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| Economy |
| Fed spending rose a record 16% in 2009 |
| 2010-09-02 |
 Federal domestic spending increased a record 16 percent to $3.2 trillion in 2009, the Census Bureau reported Tuesday, largely because of a boost in aid to the unemployed and the huge economic stimulus package enacted to rescue the sinking economy....and a fine job it did on that. The rise in spending was the largest since the Census Bureau began compiling the data in 1983. The Washington DC region was among the biggest beneficiaries of the government's spending. Johnson! Stop the presses!! |
| Posted by:tu3031 |
| #6 Yep, The trade was unfair to the CHINESE. I cannot believe how silly they were. The Chinese worked for low wages to produce goods in exchange for bits of paper with IOUs on hot off the photocopier. Daft. The only thing dafter was the West using Chinese beneficial deflation to expand the size of the state. |
| Posted by: Bright Pebbles 2010-09-02 18:41 |
| #5 When the bank has a big enough problem then suddenly the taxpayer has that same problem and the bank no longer has it. |
| Posted by: Canuckistan sniper 2010-09-02 12:49 |
| #4 When you owe the bank a billion dollars you have a problem (well, you used to.) When you owe the bank a trillion dollars the bank has a problem. |
| Posted by: Glenmore 2010-09-02 10:18 |
| #3 ahh Besoeker, after mine own heart. Let us not forget the Chinese "miracle" is built on the back of UNFAIR trade practices namely the artificial suppression of the yuan. A low Yuan is a subsidy for Chinese exporters. |
| Posted by: anon1 2010-09-02 09:36 |
| #2 4) Restrict and eventually end imports from mainland China. |
| Posted by: Besoeker 2010-09-02 03:54 |
| #1 Govt funds increased spending by issuing bonds. Bonds bought in turn by: the Federal Reserve Bank (a private entity) China Japan The borrower is slave to the lender. If the lender refuses to buy more bonds the US G won't be able to pay its workers, military, etc. Interest rates would soar. Economists are now speculating there is a bubble forming in US Bonds as buyers distrustful of stocks pile in for negative real interest rates. It is a big threat. If the bond bubble busts, interest rates rise. Kiss goodbye to what is left of the housing market... It won't though as China and Japan will keep buying to artificially repress the Yuan and Yen. But China does have the US by the balls. If I were able to rule the US for a day I could fix your woes by: 1) Withdrawing all funding for the UN. Can't afford it, sorry, broke. 2) Withdrawing all foreign aid 3) bringing the troops home from afpak, iraq Next step: pay off all debt, get budget to surplus, issue no more debt. Then when China no longer has the US G by the purse strings it will be time to talk about the unfair subsidy that is the artificially low yen. Tarrifs then on CHinese-made goods until they float. |
| Posted by: anon1 2010-09-02 03:27 |