The new budget tells the story. The U.S. government collects taxes from Americans and debt tithes globally and then gives the money to the banks and funds the military.

Proposed US Budget
Global Research.ca (02 March 09)

To see the 2008 Financial Report of the US Government, click here.

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5 Comments

  1. I have just watched a documentary by a chap named Walter Burien who has researched and come to the conclusion that there is, give or take, $60 trillion of revenue stream assets which the government does not reveal on national accounts but the info is released via the states by way of CAFR’s which never makes mainstream media so the taxpayer is not aware of this fact. It seems that the government has ,in fact, two sets of books. Could you please take time to review this documentary and perhaps start a dedicated “topic” for review, exposure and commentary……. I think it is a very serious matter which needs to become transparent….best wishes…..LEE

  2. I guess this is my frustration with the whole bailout thing. The government just does NOT GET IT!!

    If the banks’ speculation puts their business at risk, it is the taxpayers’ obligation to prop them up. If, on the other hand, the speculation worked out, would the taxpayers see a benefit? Noooo…

    It just makes me so upset.

  3. I do not understand how this is supposed to work? So they are allocating spending about twice as much as they receive in taxes. That number based on what they expect to get on taxes I bet was also based on people being able to pay taxes. Personally, I am out of work and the last thing on my mind is being able to pay taxes. How do people like me factor into this. How the hell is this going to play out?

    “The fiscal crisis is further exacerbated by the compression of tax revenues resulting from decline of the real economy. Unemployed workers do not pay taxes nor do bankrupt firms. The process is cumulative. The solution to the fiscal crisis becomes the cause of further collapse. ”

    Yeah they want to give banks and the military all this money but will it even exist? I like this quote from the article

    “The feasibility of a large short-term expansion of the public debt at a time of crisis is yet another matter, particularly with interest rates at abysmally low levels.”

    Catherine, you were on Coast to Coast a few months back talking about how the worst thing that could happen would be that money would just stop. Does this scenario seem more likely now? It seems as if the people in these controlling organizations refused to accept what is actually going on in the world. The odd thing is I still have hope that we, the real people in the real economy, will make it out of this. There is something happening under the radar.

  4. Resetting most mortgages?

    I just read your link to The Huffington Post article: The Two Documents Everyone Should Read to Better Understand the Crisis by William K Black. He basically says what you’ve been saying for years. Mortgage debt is riddled with fraud.

    Andy Gause said last week something on oneradionetwork.com like the bankers might seek to have all mortgages reset by the government, say at 4%. The closing costs would put money in the economy and we can’t end the bad loans without paying them off.

    Does this sound like something that industry might try?

    John Rubino’s review of the green energy market was fascinating last evening.

    Thanks,
    Brad

  5. I’m glad you posted this story. I have been posting and emailing stories from global research diligently trying to get people to understand what is happening.

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