It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Democrats Refuse To Pass Budget

page: 1
6

log in

join
share:

posted on Jun, 22 2010 @ 02:43 PM
link   
From my personal blog Fascist Soup:

The criminal congress critters have decided it is better you not know just how screwed you are.

They have refused to pass a budget this year, mostly because doing so would force them to summarize and publicly disclose the severe financial distress of the nation. The banker bailouts have cost the American tax payer more than 23.7 trillion dollars to supposedly save “too big to fail” financial institutions. Included in that epic number, which is nearly twice the GDP of America, are the trillions of off-balance sheet holdings of Fannie and Freddie. To put the number in perspective, the entire net wealth of all combined households in America is 51.48 trillion dollars. – We have given half the wealth of America to bankers in less than a year.

In a free market, businesses that make bad loans and bad investments are forced into bankruptcy. Their assets are liquidated. Their holdings sold on the market. Their creditors are paid back as much as possible out of what is left. The management is fired. The doors are closed.

In a fascist criminal oligarchy, guns are pointed at innocent property owners and they are robbed of their labor/property through vast swaths of bureaucratic taxation, the loot of which is then redistributed to the finanicial and industrial titans through bailouts, subsidies, kickbacks, contracts, tax breaks, and other “incentives”.

Losses are passed off to the tax payer, the criminals are rewarded, no one is fired, and the bureaucrats reap the rewards of their combined efforts of looting.

You will pay for being a democrat.

You will pay for being a neo-con republican.

Oh yes, you will pay.

Zero Hedge reports:


House Democrat leader Steny Hoyer will today announce that the US will not pass a budget in 2010 as “It isn’t possible to debate and pass a realistic, long-term budget until we’ve considered the bipartisan commission’s deficit-reduction plan, which is expected in December.” Yet ”the House has never failed to pass an annual budget resolution since the current budget rules were put into place in 1974.”

The real reason of course is that the budget would indicate new and unprecedented trillions in deficits, which would wreak havoc on Democrat chances to contain their upcoming mid-term election loss to just “landslide” status, instead of what is increasingly shaping up as being more in the “apocalyptic” category. Those whose memory spans longer than 24 hours, will recall that Peter Orszag resigned yesterday. Something tells us these two events may be correlated. In the meantime, we are now convinced that realizing the hopelessness of its political situation, the administration and the Fed will now create the most ridiculous, unprecedented, destructive and historic market melt up in history to preserve any chances of demonstrating just how “effective” their market manipulation, pardon, economic resurgence efforts are.

If you are short, be ready to have all your shares forcibly called in over the next 4 months. At least the humor of the situation is not lost on one person: House Republican leader John Boehner has taken out a page on his website to lampoon the tragicomedy that US economic and fiscal reality has become.



This year’s budget collapse is an unprecedented failure. Even when previous Congresses have failed to pass budget conference reports, the House always completed and passed its own budget resolution. Not only will House Democrats fail to pass a budget resolution, they will make no attempt to even propose a budget.


As an ode to looting bureaucrats everywhere, Al Gore's new villa in CA:



Think Gore made all that money because he made a crappy documentary and held a public office?


[edit on 22-6-2010 by mnemeth1]




posted on Jun, 22 2010 @ 02:51 PM
link   



posted on Jun, 22 2010 @ 02:54 PM
link   

Originally posted by ~Lucidity
Already posted here, with a less "politcally mad" titlle

[edit on 22-6-2010 by ~Lucidity]


A less politically mad title does the tragedy a disservice.

This is my topic, my opinion, with additional relevant facts and commentary.

Simply posting that the democrats are refusing to pass a budget does not fully convey the extreme dire consequences of what the nation faces.


[edit on 22-6-2010 by mnemeth1]



posted on Jun, 22 2010 @ 03:54 PM
link   
This makes me think of this guy !









posted on Jun, 22 2010 @ 03:58 PM
link   
reply to post by nh_ee
 


I love that guy.

Cynicism at its finest.



posted on Jun, 22 2010 @ 04:59 PM
link   
mnemeth1, I am in agreement with you almost across the board, but I do not share your contempt for the current administration. They are a bunch of flat-earth Keynesians, but they are only killing themselves. I believe the glimmer of freedom still left in this world will not wane even if the masters and ambiguous borders change drastically.

They have already lost the intellectual battle and now the two sides are just trading blows on each other for sport.



posted on Jun, 22 2010 @ 05:10 PM
link   
You are not the only one saying they will pay.

Check this out.
www.thatssaulfolks.com...



posted on Jun, 22 2010 @ 05:41 PM
link   
No budget ! thats a fantastic move and one we in the UK should follow since we have our own GM money tree so we can keep giving money to the bansters to gamble at the casino.

You know your mistake don't you ? Thats putting interest rates back up and you should get them back down to 0.5% like we have them here in the UK so you can all enjoy the tat from China on credit.

Anyway i want all you americans to know that i've been importing quite a bit from the USA over the past year to try and help you guys out but it's been in the form of 1oz silver eagles and what a fantastic buy it's been and the quality is so good that you all now want to buy then back and give me a 40% mark-up for my trouble.

Americans realy are the best in the world and not only do you give money to your enermy, the taliban to protect the opium in afganistan but you also keep giving your zionist friends money in Iserail plus you helped me to save a fortune on a new Toyota motor after you made up a load of stories that the brakes fail any faster then your average Ford does.

You guys are the best



posted on Jun, 22 2010 @ 05:43 PM
link   

Originally posted by DINSTAAR
mnemeth1, I am in agreement with you almost across the board, but I do not share your contempt for the current administration. They are a bunch of flat-earth Keynesians, but they are only killing themselves. I believe the glimmer of freedom still left in this world will not wane even if the masters and ambiguous borders change drastically.

They have already lost the intellectual battle and now the two sides are just trading blows on each other for sport.


I see it as them robbing me personally.

They are looting me and using the power of government guns to accomplish this task.

While the market will ultimately win in the end, that does not excuse their behavior.

They have destroyed this country and I don't think it will ever fully recover unless the debt is rejected and liquidated - fat chance of that ever happening.



posted on Jun, 23 2010 @ 08:06 AM
link   
Now is as good a time as any to expatriate oneself.

It certainly isn't going to get easier from this point on and the government might start charging an exit fee...

Short of your state declaring sovereignty and letting the District of Columbia keep the debts, this is the only way to avoid the sucking sound in the distance which is bound to wind up at our wallets, pensions and assets.



new topics

top topics



 
6

log in

join