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Obama's 'spend, spend, spend' budget will bankrupt America, warns man President wanted in his cabinet | Mail Online

Spending America into bankrupty is what a lot of American have been fearing ever since President Obama took office and put such a rush on getting a "stimulus bill" passed.

However, the administrations plan to impose a 90% on the AIG bonuses to quell the anger of the American people is an even more stupid move.

Bloomberg wrote: This week’s Fed decision to buy $1.15 trillion of Treasuries and housing debt is “intended to improve conditions in private credit markets, Bernanke said today in a speech in Phoenix, echoing a Fed statement this week. Officials are “encouraged by market responses to Fed programs, he said.


So the fed (the name's become appropriate, wot?) is creating more than a trillion dollars out of thin air to buy treasuries - in other words to lend to Congress.



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What does a bankrupt America look like? Does it mean we tell the Chinese to take a hike because we don't have the money to pay them? Then what...we can't borrow money for 7 years? If that's it, bankruptcy is sounding better except I would expect Congress to "try to avoid it" by taxing our g-g-g-g-grandchildren. We will all end up wards of the State just like they planned it.:-5