While many Americans are tightening their belts this spring, Congress has gone on a mad spending spree! In addition to the so-called “stimulus” passed just over two weeks ago, the Senate is now considering the pork-laden 2009 Omnibus Appropriations Act. This bill will cost taxpayers $410 billion and represents an eight percent increase from 2008 levels. Combined with the “stimulus” package, total expenditures for some agencies represent an 80 percent increase in spending for fiscal 2009.
Even worse, the mammoth bill is fattened with pork, including such outrageous items as $1.9 million for the Pleasure Beach water taxi in Connecticut, the “water taxi to nowhere”; $1.8 million to conduct research in Iowa on “swine odor and manure management”; and $380,000 for the construction of a recreation and fairground area in Kotzebue, Alaska.
Instead of recognizing the fiscal reality of a projected $1.75 trillion deficit, Congress is intent on saddling you, your children, and grandchildren with enormous debt – all in a self-serving attempt to cater to the special interests and “buy” votes back home!
Your help is needed today to call on Congress to reject this overstuffed spending package! The Senate is scheduled to vote on the Omnibus Appropriations Act later this week.
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Debt, Deficits, and the Demise of the American EconomyWhat investors can do to protect their investments in the next phase of the ongoing global economic collapseThe United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon.
Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner.
- Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe
- Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation
- Provides investment strategies, including alternative investments such as timber, farm land, and oil
- Offers a detailed proposal to get the United States out of the crisis
Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.
House & Senate, Fourth EditionDrawing on interviews with United States senators who previously served in the House of Representatives as well as journalists and staff members, this volume provides a portrait of the two American Houses of Congress.
It describes the important distinctions that separate the House and the Senate.
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Wall Street & the Financial Crisis - Anatomy of a Financial CollapseConcluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn M.D., R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, released a 635-page final report on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression. The Levin-Coburn report expands on evidence gathered at four Subcommittee hearings in April 2010, examining four aspects of the crisis through detailed case studies: high-risk mortgage lending, using the case of Washington Mutual Bank, a $300 billion thrift that became the largest bank failure in U.S. history; regulatory inaction, focusing on the Office of Thrift Supervision’s failed oversight of Washington Mutual; inflated credit ratings that misled investors, examining the actions of the nation’s two largest credit rating agencies, Moody’s and Standard & Poor’s; and the role played by investment banks, focusing primarily on Goldman Sachs, creating and selling structured finance products that foisted billions of dollars of losses on investors, while the bank itself profited from betting against the mortgage market.
