http://www.flickr.com/photos/themoshingartist/2972815294/
Posted on 02/26/2009 7:47:40 AM PST by Nachum
WASHINGTON, Feb 26 (Reuters) - President Barack Obama will forecast the biggest U.S. deficit since World War Two in a budget on Thursday that urges a costly overhaul of the healthcare system and would spend billions to arrest the economy's freefall.
An eye-popping $1.75 trillion deficit for the 2009 fiscal year is projected in Obama's first budget, according to U.S. officials who briefed reporters on the numbers.
That is equal to 12.3 percent of U.S. gross domestic product -- the largest share since 1945 when the country ran a shortfall of 21.5 percent of GDP.
(Excerpt) Read more at reuters.com ...
If you look at what the 0bama regime is doing through the litmus test of whether a specific the policy will promote destruction of the wealth and independence of the middle class, then it all become rather clear. Like typical communists, the actual policies are shrouded in lies and double-speak.
This is nothing less than the collectivization and sovietization of America. All members of the American middle class are now kulaks.
let’s backtrack.....
when shoving the welfare bill down the throats of Americans, dear leader hussien responded “they have no credibility- they doubled the national debt in 8 years” when asked about Republicans who voted against the bill...
during his propaganda address the other night dear leader said he inherited a debt of $1-trillion....
he’s now saying the debt will be $1.75 trillion next year- hence dear leader has almost doubled the national debt in his first year...
if I am mising something please tell me...
Obama’s Fifth week in office:
* President Obama will forecast the biggest U.S. deficit since World War Two in a budget on Thursday (2/26/2009) that urges a costly overhaul of the healthcare system and would spend billions to arrest the economy's freefall. An eye-popping $1.75 trillion deficit for the 2009 fiscal year is projected in Obama's first budget, according to U.S. officials who briefed reporters on the numbers. That is equal to 12.3 percent of U.S. gross domestic product -- the largest share since 1945 when the country ran a shortfall of 21.5 percent of GDP
http://www.reuters.com/article/marketsNews/idUSN2644850320090226?sp=true
*Obama will propose a massive business tax on greenhouse gases in his FY 2010 federal budget to be presented this week.
The massive tax increase and power grab was buried at the end on article on Obama's forthcoming budget proposal in The New York Times:
http://www.nytimes.com/2009/02/22/us/politics/22budget.html?_r=1&ref=business
*Obama Upholds Detainee Policy In Afghanistan:
The Obama administration told a federal judge military detainees in Afghanistan have no legal right to challenge their imprisonment there, embracing a key argument of former President Bush’s legal team
http://www.nytimes.com/2009/02/22/washington/22bagram.html?hp
*Obama appoints "The Vacuum Cleaner" to be the new US ambassador in London. Obama has been embroiled in a cronyism row after reports that he intends to make Louis Susman, one of his biggest fundraisers, the new US ambassador in London.
http://www.freerepublic.com/%5Ehttp://legalinsurrection.blogspot.com/
*Obama's administration attended four full days of negotiation at the "Durbin II" conference. During that time his people sat and passively watched the following: the failure to adopt a proposal to act against Holocaust denial, a new proposal to single out Israel, which will now be included in the draft without brackets, broad objections to anything having to do with sexual orientation, vigorous refusal by many states to back down on references to "Islamophobia" (the general allegation of a racist Western plot to discriminate against all Muslims), and numerous attacks on free speech.
http://www.forbes.com/2009/02/22/obama-israel-holocaust-durban-opinions-contributors_united_nations.html
*In response to the backlash against the bailout for failing home owners, triggered in part by Rick Santelli on CNN's rant on the floor of the Chicago stock exchange, Housing Secretary Shaun Donovan responded publicly; "the Obama administration's efforts to help struggling homeowners will aid "responsible" borrowers, not deadbeats or speculators."
http://www.cnn.com/2009/POLITICS/02/22/obama.housing/index.html
*Obama gives his blessing to Sheik Sharif Ahmed's appointment as President in Somalia. The UIC was viewed as a terrorist organization by the Bush administration, but is viewed as moderate by the new US Obama administration.
http://gatewaypundit.blogspot.com/2009/02/terror-group-leader-takes-control-of.html
*President Barack Obama now likes to talk at commissions" and summits” after making fun of Sen. John McCain for proposing a commission to look at the economic crisis facing the country. In the "Fiscal Responsibility Summit" at the White House, the President listens "to the best and the brightest on the subject of the budget as well as the larger issues related to the economy".
http://news.yahoo.com/s/ap/20090223/ap_on_go_pr_wh/obama_economy
*Among the eight members named Friday to the Presidential Task Force on the Auto Industry and the 10 senior policy aides who will assist them in their work, two own American models. Add the Treasury Department's special adviser to the task force and the total jumps to three.
http://blogs.edmunds.com/greencaradvisor/2009/02/members-of-the-presidential-task-force-on-the-auto-industry-prefer-to-drive-imports.html
*Obama’s Homeless Woman Is Actually Real Estate Investor
New information about Henrietta Hughes has come to light. It appears that the desperate homeless woman owns real estate she shifted into the name of her son to avoid taxes and acquire government aid. Henrietta Hughes also apparently sold real estate at a significant profit in 2005.
http://theliepolitic.com/2009/02/obamas-homeless-woman-is-actually-real-estate-investor/
*The United States (Obama) plans to pledge more than $900 million to help rebuild Gaza after Israel's offensive against Hamas and strengthen the Palestinian Authority, a U.S. official said on Monday.
http://www.haaretz.com/hasen/spages/1066381.html
*Vice President Joe Biden's Son and Brother Marketed Hedge Fund Through Stanford Company: The fund was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud. The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund
http://www.foxnews.com/politics/2009/02/24/report-bidens-son-brother-marketed-hedge-fund-stanford-company/
*Thomas Perez, current Labor Secretary for the State of Maryland, and former board director for Casa de Maryland, is Obama's choice to take over as the Head of the United States Citizenship and Immigration Services (USCIS). CASA is affiliated with the National Council of La Raza. CASA has also received a two-year grant from George Soros's Open society Institute.
http://voices.washingtonpost.com/annapolis/2009/02/perez_in_the_mix_for_immigrati.html
*Homeland Security Secretary Janet Napolitano avoids mention of the terms "terrorism" or "Sept. 11" in remarks prepared for her first congressional testimony since taking office, signaling a sharp change in tone from her predecessors.
http://www.foxnews.com/politics/first100days/2009/02/24/napolitano-avoids-mentioning-terrorism-remarks-congress/
*Two of President Obama's Cabinet members authored a variety of earmarks in the $410 billion omnibus spending bill the House is poised to pass Wednesday to keep the government running through Oct. 1. Transportation Secretary Ray LaHood and Labor Secretary Hilda Solis were both House members when appropriators began to forge this legislation last year. However, a stalemate between President Bush and congressional Democrats forced the sides to punt the rest of the spending provisions until now.
http://www.foxnews.com/politics/first100days/2009/02/25/obama-cabinet-members-added-earmarks-omnibus-spending/
I heard Obama on News today claiming he inherited that trillion dollars of debt they spent...Amazing that in another statement he says we will be in debt 3% of GDP in 2011...absurd arrogance.
I would look for a somewhat bounce in stock market in next year in response to stimulus, and somewhere before or after 2011 serious financial problems, when all this debt becomes due.
Y2K was a practice session, and you have about 2 yrs to pull together plans for survival. Leaving the US may not make a difference with a global economy, so dig in.
Are you missing something? NOPE...but the bounce upward coming from this stimulus will be short and prepare for the later downfall...2011-2012 somewhere in that vicinity...Y2K was just a trial run learning how to prepare.
It seems that you missed that that is not the DEBT, it is the DEFICIT.
He is sucking the lifeblood out of my country. He has to be stopped one way or another.
Imagine collecting a trillion in revenue for universal healthcare and there is absolutely no plan??? This is pure confiscation for later use. A trillion $$ slush fund that can be used to destroy the health system.
The Obama policies are insanely irresponsible and people at the moment are falling for his obfuscations.
Wonder how The Markets will cipher all this debt today at the close?
Just like ever other time, the’ll spend the money on BS now and hit use us for MORE taxes later when it’s actually needed. Another Ponzi scheme is hatched.
Rat bastards.
Drudge say this is $11,833 for every American. Is this correct?
But lest we forget, Hussein INHERITED all of this! If you don’t believe it, just ask him!
reference
I haven’t seen any outrage over Obama’s so-called transparency when the Social Security debt isn’t shown.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.