It is currently Tue Nov 25, 2014 5:55 pm

All times are UTC - 4 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Federal obligations exceed world GDP
PostPosted: Mon Feb 16, 2009 1:38 pm 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Thu Oct 13, 2005 12:50 am
Posts: 1456
Location: Ct.
Quote:
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.






http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851

_________________
CrimsonEagle
The war to end all wars can only be fought on the front-lines of the mind.

The greatest deception they have perpetrated is that we need them. Our greatest mistake is that we believe them.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 4 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
cron
Blue Moon by Trent © 2007
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group