The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Archive for February 14th, 2009

Federal Obligations Exceed World GDP

Posted by iusbvision on February 14, 2009

If you think this doesn’t have real consequences, think again. Wasn’t it Ayn Rand who said that they would spend until they ran out of other people’s money? $65.5 Trillion.

Drudge Report/ WND News:

 

Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?


Posted: February 13, 2009
11:35 pm Eastern

By Jerome R. Corsi
© 2009 WorldNetDaily
 As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

 The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.

The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.

Posted in Chuck Norton, Government Gone Wild, Obama and Congress Post Inaugration | 1 Comment »

China to America: We hate you. You are devaluing your own currency with your spending. We are not buying any more American debt.

Posted by iusbvision on February 14, 2009

We told you that China was balking. Can’t blame them. As the man says, people will only buy our debt if we can show them that we are running our financial house with some sanity. We aren’t. There will be serious economic consequences.

UPDATE: Hillary asks China to keep buying our debt.

US Secretary of State Hillary Clinton Sunday urged China to keep buying US debt as she wrapped up her first overseas trip, during which she agreed to work closely with Beijing on the financial crisis. Clinton made the plea shortly before leaving China, the final stop on a four-nation Asian tour that also took her to Japan, Indonesia and South Korea, where she worked the crowds to try to restore America’s standing abroad.

In Beijing, she called on authorities in Beijing to continue buying US Treasuries, saying it would help jumpstart the flagging US economy and stimulate imports of Chinese goods.

“By continuing to support American Treasury instruments the Chinese are recognising our interconnection. We are truly going to rise or fall together,” Clinton said at the US embassy here.

Clinton had sought to focus on economic and environmental issues in Beijing, saying Washington’s concerns about the human rights situation in China should not be a distraction from those vital matters.

Beijing’s human rights record emerged nonetheless as an issue, as Chinese activists on Saturday reported being harassed or intimidated by Chinese authorities in a bid to stop them speaking out or meeting Clinton while she was here.

“Plainclothes police blocked me from leaving my home. They were afraid I would try to meet with Hillary Clinton or others in her delegation,” democracy campaigner Jiang Qisheng told AFP by phone on Sunday.

Clinton and Chinese Foreign Minister Yang Jiechi largely agreed to disagree on human rights as they pledged future joint action on the economy and climate change.

http://www.breitbart.com/article.php?id=CNG.42a44b0f5d9cf5c9762e80574e79a3d5.831&show_article=1

Posted in Chuck Norton, Government Gone Wild, Obama and Congress Post Inaugration | 2 Comments »

Democrats Reveal Top Secret Operations in Pakisatan

Posted by iusbvision on February 14, 2009

And screw up our relations with that country.

Posted in Chuck Norton, Government Gone Wild, Stuck on Stupid | Leave a Comment »

359 People Kidnapped from Pheonix AZ – Border Out of Control

Posted by iusbvision on February 14, 2009

Politicians don’t want to talk about it.

Posted in Chuck Norton, Government Gone Wild | 1 Comment »

World’s Hottest Economist Asks Obama Supporters What the Stimulus Should Be

Posted by iusbvision on February 14, 2009

And what comes out of their mouths is one of the GOP plans.

For what they are spending the government could suspend all taxes for a year.

Not only is she smart, but does anyone doubt that she is truly one of the world’s most lovely? She is Michelle Muccio of the Acton Institute. I wonder if she has a poster or a book or something.

(Hat Tip Hotair.com for the video link)

Posted in Chuck Norton, Government Gone Wild, Obama and Congress Post Inaugration | Leave a Comment »

Republican leader’s speech on the House floor over Porkulus

Posted by iusbvision on February 14, 2009

Barn burner.

Posted in Chuck Norton, Government Gone Wild, Obama and Congress Post Inaugration | Leave a Comment »