"US to borrow 46 cents on every dollar spent, White House projects; Estimates point to massive deficit" by Andrew Taylor, Associated Press | May 12, 2009
WASHINGTON - The federal government will have to borrow nearly 50 cents for every dollar it spends this year, exploding its record deficit past $1.8 trillion, the White House estimated yesterday.
The unprecedented deficit figures flow from the deep recession, the Wall Street bailout, and the cost of President Obama's economic stimulus bill, as well as a seemingly embedded structural imbalance between what the government spends and what it takes in.
Translation: we can't fix it. Pffffttt!
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"Short-term Treasury bill rates slip" by Associated Press | May 12, 2009
WASHINGTON - The deficit is ballooning because of the impact of the billions of dollars the government is spending on a bailout of the financial system amid the recession, which has cut sharply into revenues and raised the cost of unemployment insurance, food stamps, and other programs.
Unbelievable!
Yeah, the implication being that social services are responsible for such a gap.
Honestly, I have fucking had it with business liars!
There are concerns the government's huge borrowing needs could trigger steep increases in interest rates if domestic and foreign investors start demanding a larger return for holding Treasury debt.
I'm expecting them. All part of the plan.
But so far, the big increase in the supply of Treasury securities has occurred at a time when interest rates have been pushed lower by heavy demand for what investors see as super-safe investments during a time of high anxiety about other types of debt.
The bankrupt U.S. government is seen as a safe bet?
Why? Because they can bend over taxpayers whenever they want?
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