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UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

February 8, 2010

WHEERE THE DEFICIT COMES FROM


3 Comments:

Anonymous Anonymous said...

Here's the LINK:

http://www.cbpp.org/cms/index.cfm?fa=view&id=3036

February 8, 2010 4:39 PM  
Anonymous Anonymous said...

During the Bush years, I was surprised when some people told me how well the economy was doing, mainly because the Annual Budgetary Deficit was being quickly paid off.

This, as the Long Term National Debt was raising from 5.8 Trillion to 11.4Trillion. And it is this 5.6T that has me worried.

Using conventional Republican thinking, and possibly current popular belief, am I to believe that if we just took this Annual Deficit and moved (hid) it to the National Debt, there would be no problem?

February 8, 2010 5:29 PM  
Blogger Charles Douglas said...

The total exposure of the bankster bailouts far exceeds the TARP and Fannie/Freddie tally. Congressional representatives in open session have referred to the figure of $23.7 trillion in total liabilities, while Bloomberg and others have stated that it's above $28 trillion now.

Bush and Obama both support the bailout, in case anyone who reads prorev.com is still fooled by the two-party scam.

February 9, 2010 4:50 AM  

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