NY Times on another Bush legacy:the Congressional Budget Office projected a $1.2 trillion budget deficit for the fiscal year.
[...]
Mr. Obama said: “And we know that our recovery and reinvestment plan will necessarily add more. My own economic and budget team projects that, unless we take decisive action, even after our economy pulls out of its slide, trillion-dollar deficits will be a reality for years to come.”
[...]
The budget office predicted that the unemployment rate, which was 6.7 percent in November, would climb above 9 percent by the end of 2009. [and] the economy, which it predicted would contract 2.2 percent in 2009 and register anemic growth in 2010. [...] It estimated that tax revenue will sink by $166 billion, or 6.6 percent.
[...]
The agency said the deficit would equal 8.3 percent of gross domestic product, obliterating previous postwar record of 6 percent, reached in 1983 under President Ronald Reagan.
Another article comparing banking crises shows that we may not be anywhere near the bottom of the economic consequences of the ever imploding bubble.
If the bottom is not this year then we will definitely be in a depression.
HOW DO YA ENROL WHEN YA TRESPASSED?
ReplyDeleteHow do ya comment when I trespass all-caps?
ReplyDeleteNow hold on a minute.This new law to silence dissent ("Judith Tizard")is aiming at the wrong target.How about toning down the foul language, which we are all guilty of admittedly when we get excited first.Or have a go at porn as well.Then we can discuss the need for censorship, when all I'm doing is reflecting my personality in the best way I know how.O.K.
ReplyDeleteYour personality best be reflected in a better way, and you better know how, because it's very easy to reflect my personality and hit the trash button.
ReplyDeleteThe post is headed "Trillion dollar deficits" and the topic is the US federal treasury and the economic recession.
IF YOU AND OTHERS DON'T TAKE SOME TIMELY ADVICE AND TRY TO EXERCISE A LITTLE SELF RESTRAINT OR INITIATIVE WITH THE SWEARING WHICH IS PROLIFIC ON THIS BLOG AND ONLY SERVES TO FUEL THE ANGER AND HURT SOME OF US ARE FEELING THEN WE WILL ALL SUFFER FURTHER DOWN THE LINE TIM.I DON'T LIKE BEING THREATENED MUCH EITHER BY YOU ALL THE TIME IT SEEMS LIKE TO ME.BUT THAT IS THE WHOLE POINT OF THE ISP EXERCISE AFTER ALL ISN'T IT.OR IS IT JUST BAD TIMING THERE IS A WAR GOING ON AT THE MOMENT.DO THEY WANT ME TO STOP BLOGGING BEFORE IT IS ALL OVER.MAYBE BOMBER IS RIGHT ABOUT YOU GIVING UP A LITTLE TO EASILY WITH THE WAR, CALLING YOU A TRAITOR I BELIEVE OR SOMEONE DID DIDN'T THEY.I WONDER WHO THAT COULD BE.IT'S NOT OVER YET AND THAT IS "THE TOPIC" AFTER ALL ISN'T IT.
ReplyDeleteI DIDN'T SEE YOU AT STANLEY ST YESTERDAY WHEN THE ISRAELI TENNIS PLAYER DROVE OFF IN HER VOLUNTEER DRIVEN MERCEDES BUT I WAS THERE.IT COST ME FORTY BUCKS IN A CAB THERE AND BACK.INCIDENTALLY MY 2 INDIAN CAB DRIVERS WERE UNCONCERNED WITH THE WAR.THEY SEEMED A LITTLE OUT OF DATE WITH THE CASUALTIES WHICH THEY THOUGHT WERE AROUND THE 300 MARK.THEY ALSO SAID SOMETHING ABOUT SUICIDE BOMBERS, BUT I DIDN'T CATCH THEIR DRIFT SO TO SPEAK.I SHOULD HAVE YELLED OUT SHAME, BUT ALL THE PROTESTERS HAD GONE HOME EARLY.IT WAS FIFTY BUCKS TO GET IN AS WELL AND I COULDN'T AFFORD IT AND THERE WERE NO RED JANDALS TO THROW IN MY BAG EITHER.I DIDN'T HAVE ONE.I TRUST YOU ARE GOING TO PROVIDE SOME COVERAGE OF THE PROTEST TOMORROW ON YOUR BLOG PLEASE MATE?
Agh......................... Yes. It will be posted tomorrow.
ReplyDeleteSorry, I forgot thats yer day off.What are ya doing bloggin on a friday night.Are the cops still watchin ya?
ReplyDeleteTruth, lies and intelligence.Written and directed by Carmel Travers.
ReplyDeleteState of the Union;
1.Bush lies.
"The British Government has learned that Saddam Hussein recently sought 'significant quantities of uranium' from Africa/Niger.
Truth, lies and intelligence.
ReplyDeleteWritten and directed by Carmel Travers.
State of the Union;
1.Bush lies.
"The British Government has learned that Saddam Hussein recently sought 'significant quantities of uranium' from Africa."
2.Blair lies.
House of Commons;
"Saddam has bought or attempted to buy, covertly, to acquire 60,000 or more specialised aluminium tubes, which are subject to strict controls due to their potential use, in construction of gas centrifuges.In addition, we know Saddam has been trying to buy "significant quantities of uranium from Africa", though we do not know whether he has been successful.It concludes that Iraq has chemical and biological weapons, that Saddam has continued to produce them, that he has existing plans for the use of chemical and biological weapons, which could be activated in 45 minutes against his own (Shia) population...and that he is actively trying to acquire Nuclear Weapons.
3.Howard lies;Parliament.
"Uranium has been bought from Africa" that has no civil use.
Bush, Blair and Howard all singing from the same hymn book.
Secretary Powell.Address to the Security Council.Delivered the deal breaker for the case for war against Iraq;
"Saddam hasn't told the truth."
He exaggerated the capability of chemical munitions to the UNSC.