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Thursday, 17 October 2013

Debt Ceiling deal - winners and losers

Posted on 20:12 by Unknown

The debt ceiling deal suspended the debt ceiling until January with no cuts to the over $1.3tn a year of Corporate Welfare.
The government will now issue new Treasury Notes to reverse the "emergency measures" in place since May.
$300bn+ of new borrowing to replace the funds borrowed from Federal Employee retirement funds etc.

Biggest Winners

Banksters
Arrms companies
Big pharma
Big oil
Big food
Big Health Insurance companies
Top 0.1%
Mitch McConnell - $2bn of more Pork for Kentucky was included in the bill
Mitt Romney - Bain Capital are set up to make a fortune out of Obamacare
http://ian56.blogspot.com/2012/09/sick-money-how-mitt-romneys-bain.html

The Neocon Fascists who currently control DC.
They have successfully split the people straight down the middle again on a so called partisan divide, when both party leaders agree on everything of importance - see the debt ceiling deal.
They had suffered a couple of setbacks with the developing NSA scandal and the opposition to starting a war in Syria.
There really is only one major party in America - the big business party.

When MSNBC present people like John McCain, Peter King and the American Enterprise Institute as "moderates" you know you are being conned.

Biggest Losers 

The American people
The American economy

China downgrades American debt.
http://www.france24.com/en/20131017-chinese-agency-downgrades-us-credit-rating
China knows it is only a matter of time before the U.S. defaults on it's unsustainable debts.
GDP growth of $320bn a year and an increase in the National Debt of $750bn+ a year is unsustainable.

And it is only going to get worse due to demographics, by 2023:
Spending is expected to be around $6tn
The annual deficit is expected to be $3tn+
The National Debt is expected to be over $40tn or 250% of GDP (providing the rest of the world has not already called foul and forced a dollar collapse and debt default).

The unsustainable increase in gov't spending from $1.5tn in 2000 to $3.5tn now. But it's going to get FAR Worse 
http://ian56.blogspot.com/2013/09/the-unsustainable-increase-in-govt.html
The government is being INCREDIBLY STUPID. It is allowing the Federal Reserve private bank to behave INCREDIBLY STUPIDLY as well.
http://ian56.blogspot.com/2013/03/the-government-is-being-incredibly.html

How to fix America's economy & create jobs & prosperity again
http://ian56.blogspot.com/2013/05/how-to-fix-americas-economy-create-jobs.html

The disastrous Fiscal Cliff deal needs to be completely reversed.
How to fix the deficits and the economy long term.
http://ian56.blogspot.com/2013/10/the-disastrous-fiscal-cliff-backroom.html




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