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POPSDeficit – What Is It and How Much Is It? For the 2010 budget year, the federal government has budgeted tax receipts of approximately $2.4 trillion and budgeted expenditures of approximately $3.6 trillion, leaving a budget deficit of roughly $1.2 trillion. That means the federal government expects to add about $1.2 trillion to the national debt in 2010. Stated another way, the federal government plans on spending 50% more than it collects in taxes in 2010. If American families ran their household budgets this way, they would go bankrupt. But our Washington politicians seem to think they can keep spending as much as they want to, regardless of how much money our government actually has. Thank you for visiting this site and reading this article on the deficit and the national debt. Your interest in the national debt and related topics is very much appreciated, and you are invited to read additional articles on this site. http://twitter.com/TheNationalDebt
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POPSG7 Pledges to Forgive Haiti's Debtby
dcoda Yesterday 7:41 AM They're also looking for ways to fund recovery (which I hope doesn't just put them right back into unmanageable debt).Anyway, a round of applause for the voice of reason.
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POPSBeware Of The IRS Tax Bite This happened to a friend of mine and I was shocked to learn she had to claim part of her forgiven debt as income. For people who have fallen on hard times, and are trying to pay their debt off--they are slammed with THIS. I think it's horrible and I think it gives people ZERO incentive to do the right thing.
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POPSWars sending U.S. into ruin. Obama’s Afghan “surge” of 30,000 new troops will cost an additional $33 billion — more than Germany’s total defence budget. Military and intelligence spending relentlessly increase as unemployment heads over 10% and the economy bleeds red ink. America has become the Sick Man of the Western Hemisphere, an economic cripple like the defunct Ottoman Empire. The Pentagon now accounts for half of total world military spending. Add America’s rich NATO allies and Japan, and the figure reaches 75%. China and Russia combined spend only a paltry 10% of what the U.S. spends on defence. There are 750 U.S. military bases in 50 nations and 255,000 service members stationed abroad, 116,000 in Europe, nearly 100,000 in Japan and South Korea. Military spending gobbles up 19% of federal spending and at least 44% of tax revenues. During the Bush administration, the Iraq and Afghanistan wars — funded by borrowing — cost each American family more than $25,000.
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POPSdebt settlement If you have become hostage to your unsecured credit card debt and are in need of assistance, ACI can work with your creditors to help relieve you from that shackle of debt. We negotiate on your behalf to settle your unsecured credit card debt. Find out more information about debt consolidation visit on http://aci-solutions.com
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POPSETERNAL DEBT-The American Way! Well, for one very simple reason. That is not the way our system works. You see, for more dollars to enter the system, the U.S. government has to go into more debt. The U.S. government does not issue U.S. currency - the Federal Reserve does. The Federal Reserve is a private bank owned and operated for profit by a very powerful group of elite international bankers. If you will pull a dollar bill out and take a look at it, you will notice that it says "Federal Reserve Note" at the top. It belongs to the Federal Reserve. The U.S. government cannot simply go out and create new money whenever it wants under our current system. Instead, it must get it from the Federal Reserve. So, when the U.S. government needs to borrow more money (which happens a lot these days) it goes over to the Federal Reserve and asks them for some more green pieces of paper called Federal Reserve Notes.
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POPS Moody’s Warns US Of Credit Rating Fears
the federal financial picture as presented in the projections for the next decade will at some point put pressure on the triple A government bond rating,” the rating agency added in an issuer note. This week, the White House forecast a $1,565bn budget deficit for 2010, which represents 10.6 per cent of gross domestic product and is the highest such ratio of debt to GDP since the second world war. While the budget gap is forecast to fall to about 4 per cent by 2013, it is based in part on economic growth not falling below government expectations, Congress agreeing to tax rises and a spending freeze on non-security discretionary spending. Crucially, projections of the overall debt-to-GDP ratio for the US are seen rising from 53 per cent in 2009 to 73 per cent in 2015 and 77 per cent by 2020. Moody’s, however, says this understates the overall US debt level. “Using the general government measure, including state and local governments as well as the federal government ....
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POPSDebt Consolidation Credit counseling,debt consolidation and credit card help through financial education and debt management.Our debt consolidation services can help you get out of debt and stay out of debt.
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