Posted by
Brenda Bee on Friday, September 12, 2008 9:29:56 PM
Read the following report from the
Congressional Budget Office's latest report on the budget deficit this
year. Then go again to Suicidal Spending put out by Ross Perot. (
http://perotcharts.com/challenges/ ) The little man appears to be
right on. He was right in 1996 and he is right now. Our goose is
cooked for sure and the greatest nation on Earth, the richest and the
most democratic and free nation of it's time is being destroyed by the
mob who know nothing but what they want and to Hell with the society
as a whole. And to Hell with the nation as they squandered away our
resources.
People, do you not understand that when you kill the Golden Goose you too will starve? BB
Headlines: Estimates say fed budget deficit nearing $407B
By ANDREW TAYLOR, Associated Press Writer Tue Sep 9, 12:35 PM ET
WASHINGTON - The federal government will run a near-record deficit of
$407 billion this year, according to the latest Capitol Hill estimates.
The Congressional Budget Office
released figures Tuesday that indicate the red ink will spill over into
next year, when the deficit would reach a record $438 billion — and
could go even higher as the government takes over mortgage giants
Fannie Mae and Freddie Mac.
The
worsening deficit is largely due to continuing weakness in the economy,
high energy and food prices, and the slump in the housing and financial
markets, the CBO said. And the economy could still slide into a
recession, according to the forecast.
"The
economy is likely to experience at least several more months of very
slow growth," the new report said. "Whether this period will ultimately
be designated a recession or not is still uncertain, but the increase
in the unemployment rate and the pace of economic growth are similar to conditions during previous periods of mild recession."
The CBO predicts that the economy will grow 1.5 percent this year in real terms and slip to just 1.1 percent growth in 2009."
To better understand what this all means you should go to:
http://perotcharts.com/challenges/