Fed Bernanke-Obama deception

Anyone still is not aware of US debt madness and the FED deception?

FED Bernanke robbery every day
US Auctions $42 Billion in 5-Year Notes at High Yield of 2.395%, Bid-to-Cover of 2.75 (Click for Story)

After bankrupting millions of Americans and now bankrupting the nation to sell trillions of their stock inventory at higher price. Who are still fooled in the Bernanke-FED scams after scams... FED=SEC=GOLDMAN=SCAMS ~~ http://www.cnbc.com/id/35562488

Robbery from Treasury and robbery hyping markets to sell stock inventory at higher price. Rottenchild Fed da boyz deception http://www.cnbc.com/id/35542268


Ballooning debt is likely to force several countries to default and the U.S. to cut spending, according to Harvard University Professor Kenneth Rogoff, who in 2008 predicted the failure of big American banks.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aAd.sSfnhpTA&pos=6

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President's budget has record debt and spending

President Barack Obama submitted his budget proposal to Congress earlier this month. I am deeply concerned about the direction the administration is proposing in this $3.8 trillion plan, which sets new records for spending and indebtedness.

Despite recent comments calling for greater bipartisanship, it appears this budget repeats and expands on the the policies we’ve seen for the last year. It includes more taxes, more deficits, and more debt. In short it appears to be more of the same.

According to the non-partisan Congressional Budget Office, we are adding debt at an unsustainable pace. As the graphs below

from the House Budget Committee Republican staff show, the publicly held debt will more than double by 2020 to more than $18 trillion. The federal budget deficit would average $1.3 trillion per year.

Another issue is the surge in government spending projected as far as the eye can see. The historic average for government spending has been about 20.7 percent of gross domestic product (GDP). By the CBO's estimate, spending will accelerate to nearly 26 percent of GDP. In fact, analysts estimate that 88 percent of additional deficits would come from higher spending.

This is not a realistic, sustainable budget. This not only puts us on the wrong track, it has us heading in the wrong direction. The American people understand that a so-called budget with this level of borrowing and spending is only a plan to take us deeper debt. It is not a plan for returning us to prosperity.

We cannot keep borrowing money from foreign nations like China and leave our children, their children, and their children's children with a staggering debt to repay. Such a legacy will burden future generations and place our nation in weakened position.

America needs serious budget reform and it needs a responsible plan for a sustainable economic future.

Sincerely yours,

Adam H. Putnam,
U.S. Congressman