HEADS UP - STOCK MARKET IS GETTING NERVOUS AGAIN President Obama Sets Stage for Government Financial Crisis in February as he Refuses to Cut Federal Spending as Federal Debt Ceiling Peaks - AGAIN President Says He Wants Unlimited Spending and Debt, or Else.....AGAIN Last October, President Obama objected to Congress closing part of the government for his refusal to pass an annual budget, cut spending and pass a plan to balance the federal budget. In October, Congress gave the President an extension until February 15th to come up with a plan of action. To date, the President has once again refused to act citing that the he must have the right to created unlimited national debt as he increases government spending including entitlement and re-distribution programs. Our President appears to be once again citing his way or the highway that frankly bypasses the Legislative process all together. If Congress does not do what the President wants, he will once again refuse to sign a budget deal and threaten to crash the entire world banking system in the press which includes holding back all debt interest payments, and Social Security checks in order to blackmail the Congress. Under the Presidents current plan the Nation Debt will exceed $23 Trillion by 2020. This compares to $17 Trillion today, and $10 Trillion when Obama took office. in 2008, before Obama became President he said that having Bush adding $5 Trillion in debt over 8 years was a crime against the country. However, when Obama leaves office in 2016, he would have created $10+ Trillion in debt. Wall Street concludes that Congress will once again surrender to Obama, thus giving more power to the White House to do anything that it wants to. This is not exactly how the US Constitution works, but Washington seems to have gotten away with ignoring these laws for a while now.
Posted on: Thu, 23 Jan 2014 11:58:01 +0000
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