Obama Plans to Slash U.S. Budget Deficit by 2013

setmefree2

http://www.bloomberg.com/apps/news?pid=20601087&sid=aei7Fn0ISrwo&refer=home

"President Barack Obama plans to increase taxes on the wealthy and cut spending for the war in Iraq as part of a plan to slash the U.S. budget deficit to $533 billion by the end of his first term, according to an administration official. Obama wants to reduce the deficit because he’s concerned that over time, federal borrowing will make it harder for the economy to grow and create jobs, said the official, speaking on the condition of anonymity.
The deficit Obama inherited on taking office last month was $1.3 trillion. The administration is scheduled to hold a so- called fiscal-responsibility summit at the White House tomorrow, with about 130 people invited, including about 50 members of the House and Senate from both parties. An overview of Obama’s budget proposal for the 2010 fiscal year, which begins Oct. 1, will be released Feb. 26.
“We have been on an incredible spending spree,” Senate Minority Leader Mitch McConnell said today on CNN. “So I think it’s timely that the president’s having a meeting at the White House tomorrow to talk about the deficit because we’re spending money at a very, very rapid pace, far beyond anything in history.”
Most of the savings will be realized from increased revenue from Americans making more than $250,000 a year and winding down the war in Iraq, said the official. The New York Times said yesterday Obama will propose letting President George W. Bush’s tax cuts for the wealthy lapse in 2010. "


No more war in Iraq! How much would that save the UK? How much has the war in Iraq cost the UK? We never talk about that, do we?:o

bubblesmoney

No more war in Iraq! How much would that save the UK? How much has the war in Iraq cost the UK? We never talk about that, do we?

A 'fraud' bigger than Madoff

Senior US soldiers investigated over missing Iraq reconstruction billions

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme.

"They have pillaged the world. When the land has nothing left for men who ravage everything, they scour the sea. If an enemy is rich, they are greedy; if he is poor, they crave glory. Neither East nor West can sate their appetite. They are the only people on earth to covet wealth and poverty with equal craving. They plunder, they butcher, they ravish, and call it by the lying name of "empire." They make a desert and call it "peace"." - Roman historian Tacitus

ever wonder about this - corporates (private security firms and defense companies) helped destroy Iraq and made a lot of money doing so, then again corporates 'helped' the reconstruction efforts what ever that meant for a lot more money. only thing is nothing got built but the money went down the drain hole anyway without accountability. american (and iraqi) tax payers footed the bill for both the war and the reconstruction while corporates pocketed the profits.

same thing since time immemorial corporates made a killing through every war on both sides. sometimes the same company helped both sides like in world war 2 !!!! americans armed sadaam then americans disarmed him and corporates made money with both efforts.

" What would have happened if millions of American and British people, struggling with coupons and lines at the gas stations, had learned that in 1942 Standard Oil of New Jersey [part of the Rockefeller empire] managers shipped the enemy's fuel through neutral Switzerland and that the enemy was shipping Allied fuel? Suppose the public had discovered that the Chase Bank in Nazi-occupied Paris after Pearl Harbor was doing millions of dollars' worth of business with the enemy with the full knowledge of the head office in Manhattan [the Rockefeller family among others?] Or that Ford trucks were being built for the German occupation troops in France with authorization from Dearborn, Michigan? Or that Colonel Sosthenes Behn, the head of the international American telephone conglomerate ITT, flew from New York to Madrid to Berne during the war to help improve Hitler's communications systems and improve the robot bombs that devastated London? Or that ITT built the FockeWulfs that dropped bombs on British and American troops? Or that crucial balI bearings were shipped to Nazi-associated customers in Latin America with the collusion of the vice-chairman of the U.S. War Production Board in partnership with Goering's cousin in Philadelphia when American forces were desperately short of them? Or that such arrangements were known about in Washington and either sanctioned or deliberately ignored?" - Charles Higham, researcher, about U.S.-Nazi collaboration during WWII

FoxtonsRIP

setmefree2 wrote: »

No more war in Iraq! How much would that save the UK? How much has the war in Iraq cost the UK? We never talk about that, do we?:o

And not to mention the ongoing 20-30 year war in Afghanistan! A few more billions of pounds there too