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Govt. sets record deficit in February

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posted on Mar, 8 2012 @ 07:55 PM
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The biggest deficit in history was set by the U.S. Government in February !!

The largest ever !!


Thursday, March 8, 2012 -- The Washington Times

The federal government recorded its worst monthly deficit in history in February, according to a preliminary report Wednesday from the Congressional Budget Office that said the deficit in fiscal year 2012 is already more than half a trillion dollars.

The CBO’s figures show that despite repeated efforts to trim spending, the government has borrowed 42 cents of every dollar it spent during the first five months of this fiscal year.

The nonpartisan agency projected the government will run a deficit of $229 billion in February, the highest monthly figure ever. The previous high was $223 billion a year ago, in February 2011.

It is the 41st straight month the government has run a deficit — itself a record streak that dates back to the final months of President George W. Bush’s tenure. Before now, the longest streak on record was 11 months.

Big $$ Deficits


The money seems to be going in one direction only .... away from the people !!

I thought all the smart people running things were supposed to prevent these problems,

not cause them !!




WHO robbed all that money anyway ??

Have we all been taken for fools ??




posted on Mar, 8 2012 @ 08:01 PM
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Well in their defense, last month did have a leap day.



Seriously though, is anyone really surprised at that headline?


ETA:

Meanwhile at the Congressional budget office...



edit on 3/8/12 by FortAnthem because:
___________ extra DIV



posted on Mar, 8 2012 @ 09:55 PM
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reply to post by xuenchen
 


Tell me how is the US ever going to be able to pay of all the debt?
And the weird thing here is that this is not just the US, Europe is in the same mess and so are many other countries around the globe.
In the old days the debt would be sold for interest but these days countries can't even pay their own debt interest anymore ie Greece and Italy soon.

All this clearly shows that our economic world will stop and what do they do about it they loan more money.

If this was an house and the roof is clearly up for repair we already fixed it by taking it of.
They are spending money like there is no tomorrow which worries me a lot.

Looking at the bigger picture with solar flare, CME's potential war in the middle east makes me wonder what the end game is and more important when they are going to play that game because right now it looks like we are already in the end game and in the last quarter of that game.

I'm not talking about NWO or planets that could crash into the earth but there is something happening around us and i have a feeling that we do not have to wait to long before the real direction where moving towards will be seen.

just my 2 cents



posted on Mar, 8 2012 @ 10:21 PM
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Originally posted by cayote
reply to post by xuenchen
 


Tell me how is the US ever going to be able to pay of all the debt?
And the weird thing here is that this is not just the US, Europe is in the same mess and so are many other countries around the globe.
In the old days the debt would be sold for interest but these days countries can't even pay their own debt interest anymore ie Greece and Italy soon.

All this clearly shows that our economic world will stop and what do they do about it they loan more money.

If this was an house and the roof is clearly up for repair we already fixed it by taking it of.
They are spending money like there is no tomorrow which worries me a lot.

Looking at the bigger picture with solar flare, CME's potential war in the middle east makes me wonder what the end game is and more important when they are going to play that game because right now it looks like we are already in the end game and in the last quarter of that game.

I'm not talking about NWO or planets that could crash into the earth but there is something happening around us and i have a feeling that we do not have to wait to long before the real direction where moving towards will be seen.

just my 2 cents


They have choices on how to pay off the U.S. debt (as well as other nations).

1) keep borrowing (and printing currency) until nobody will buy the bonds.

2) tax the hell out of whoever is left of the taxpayers.

A value added tax will probably be imposed in 2013 after the elections.

The "world" system is based on all the central banks essentially switching and spinning each other's debts.

It's the "borrow from Peter to pay Paul" dilemma.


The U.S. debt is $15.5 Trillion
That's a little less than $50,000.00 per person
The U.S. debt clock



posted on Mar, 8 2012 @ 11:28 PM
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reply to post by xuenchen
 


yeah i get that but any giving day now they will be unable to sell it or to transfer this debt to someone else and then they will have to create a war with the country that holds all the bonds hoping they will win that and they can clear their debt.

the one that loses the war has to pay like Germany did pay for WW2.

Looking at who own most bonds right now i would say China.



posted on Mar, 8 2012 @ 11:43 PM
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reply to post by cayote
 


this report is interesting:

Biggest Holders of US Government Debt

1. Federal Reserve and Intragovernmental Holdings

U.S. debt holdings: $6.328 trillion

That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed's system of banks owns approximately $1.65 trillion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings - which include large funds such as the Medicare Trust Fund and the Social Security Trust Fund - hold the rest.

In the monthly Treasury bulletin, both are combined into one category and the total accounts for a stunning $6.328 trillion in holdings as of September 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities. The Social Security Trust fund is required by law to invest in securities where the principal and interest is guaranteed by the Federal government.

About a decade ago, the total government holdings were "only" $2.5 trillion.

2. China
......


Who owns Who ?



posted on Mar, 10 2012 @ 09:21 AM
link   

Originally posted by xuenchen

Originally posted by cayote
reply to post by xuenchen
 


Tell me how is the US ever going to be able to pay of all the debt?
And the weird thing here is that this is not just the US, Europe is in the same mess and so are many other countries around the globe.
In the old days the debt would be sold for interest but these days countries can't even pay their own debt interest anymore ie Greece and Italy soon.

All this clearly shows that our economic world will stop and what do they do about it they loan more money.

If this was an house and the roof is clearly up for repair we already fixed it by taking it of.
They are spending money like there is no tomorrow which worries me a lot.

Looking at the bigger picture with solar flare, CME's potential war in the middle east makes me wonder what the end game is and more important when they are going to play that game because right now it looks like we are already in the end game and in the last quarter of that game.

I'm not talking about NWO or planets that could crash into the earth but there is something happening around us and i have a feeling that we do not have to wait to long before the real direction where moving towards will be seen.

just my 2 cents


They have choices on how to pay off the U.S. debt (as well as other nations).

1) keep borrowing (and printing currency) until nobody will buy the bonds.

2) tax the hell out of whoever is left of the taxpayers.

A value added tax will probably be imposed in 2013 after the elections.

The "world" system is based on all the central banks essentially switching and spinning each other's debts.

It's the "borrow from Peter to pay Paul" dilemma.


The U.S. debt is $15.5 Trillion
That's a little less than $50,000.00 per person
The U.S. debt clock




Don't forget Option 3: Grow the US economy. Put everyone back to work.

Lower the unemployment number to 3.8%. That would create a tidal wave of

payroll taxes that would wash away the huge deficit that we have had to

contend with.

All we need is something new. The last something new was something called

the World Wide Web. Google, Yahoo, eBay and Amazon.com appeared out of

nowhere. Jobs - Jobs - Jobs !!!

See?



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