Obama’s Borrow and Spend Bill Looks Like a Done Deal
It looks like Obama’s stimulus boondoggle will pass in the Senate. In the video here, Obama promises us light at the end of the financial tunnel after the astronomical spending bill clears the last hurdle. In fact, we will enter a period of prolonged darkness and immense suffering.
Money does not grow on trees, my father admonished when I was a child. In Washington, there are no money trees. In order to get Obama’s spending plan rolling the government will have to borrow the money, impose substantial taxation on the American people, and fire up the printing presses over at the privately owned Federal Reserve. It is thought this will “jump start” the economy. It will do no such thing.
As Dom Armentano notes, even though the federal government increased its spending from $9.8 billion in 1934 to $14.2 billion in 1940, the unemployment rate in 1940 was still a staggering 14.6%. A 45% increase in New Deal spending in 6 years did not end the Depression. It took a World War to do that.
Of course, all of this spending has nothing to do with jobs in Podunk. It has to do with increasing the national debt and interest payments owed to a cartel of international bankers.
Last November, a Treasury Department report stated that the interest payment on the federal debt for Fiscal Year 2009 would be about $450 billion, making it the fourth largest expense in the federal budget behind Medicare-Medicaid, Social Security and defense spending. It is estimated Obama’s “stimulus” (borrow and spend) bill, currently pegged at around a trillion bucks, will add more than $50 billion to those annual interest payments.
In the district of criminals, spending your money — or rather increasing the obligation of your grand children to pay off the debt — is a fluid process. Recall the initial sell plan had the bankster “bail out” giveaway plan at $700 billion. It didn’t take long for that figure to grow astronomically. It was soon jacked up to around $8.5 trillion, a figure that represents 60 per cent of the U.S. gross domestic product.
Not surprisingly, the lion’s share of this money came from the banker-owned Federal Reserve. “Most of the money, about $5.5 trillion, comes from the Federal Reserve, which as an independent entity does not need congressional approval to lend money to banks or, in ‘unusual and exigent circumstances,’ to other financial institutions,” the San Francisco Chronicle reported last November.
Bankers like to call this “creating new money.” Indeed, it is the process of creating money – out of thin air and then charging interest on it. Peter Schiff, president of Euro Pacific Capital, says the government is trying to perpetuate a “phony economy” based on borrowing and spending. The bond bubble will soon burst and will ultimately lead to a collapse of the dollar and an “inflationary depression worse than anything any of us have ever seen.” It will be an “unmitigated disaster,” warns Schiff.
Our rulers at the behest of the international bankers want an “unmitigated disaster” and have anointed Obama to deliver it. In addition to putting us — and our children, and our children’s children — in hock for many decades to come, the current “unmitigated disaster” unfolding before our very eyes is designed to usher in a scientifically engineered global serfdom with an accompanying control grid apparatus. “We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times,” declared the pre-anointed one last year.
“Obama seeks not merely to control the means of production, but also to regiment individual consumption in order to bring the population into compliance with his vision of a better society,” writes William Norman Grigg.
It isn’t Obama’s vision, though. Obama is just a cigar store Indian. It is the vision of the New World Order, a bone-crushing juggernaut steered behind the scenes by a cabal of aristocratic families and international bankers.
Obama’s borrow and spend bill that will crank up the debt and pauperize America is simply the next phase of this horrific vision.
Kurt Nimmo
Infowars
February 7, 2009
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"The wealth accumulated by Europe and North America are largely based on riches taken from Asia, Africa and Latin America. Without the destruction of India’s rich textile industry, without the takeover of the spice trade, without the genocide of the native American tribes, without African slavery, the Industrial Revolution would not have resulted in new riches for Europe or North America. It was this violent takeover of Third World resources and markets that created wealth in the North and poverty in the South. " (Source: Vandana Shiva; Two myths that keep the world poor)
ReplyDelete"'We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times,' declared the pre-anointed one last year.'Obama seeks not merely to control the means of production, but also to regiment individual consumption in order to bring the population into compliance with his vision of a better society.'"
I suppose Obama is right, if you like it or not: we, the industrialized nations, have to cut down. Peak Oil will teach us how to do it.