----- Original Message ----- From: Globalresearch.ca Sent: Monday, March 16, 2009 2:57 AM Subject: Obama's Budget Will Impoverish America. CRG E-Newsletter
AUDIO
"America's Fiscal Collapse - Obama's Budget Will Impoverish America"
Radio Interview with Michel Chossudovsky
Click to listen http://tinyurl.com/clr43n
By Bonnie Faulkner
www.globalresearch.ca/index.php?context=va&aid=12674
Global Research, March 12, 2009
Guns and Butter, Pacifica (KPFA)
The administration's 2010 budget will entail the most drastic curtailment
in
public spending in American history, leading to social havoc and the
potential impoverishment of millions of people. Defense spending and bank
bailouts will consume all government revenue resulting in fiscal collapse
that will lead to the privatization of the state.
Download this clip (mp3, 10.28 megabytes)
Play this clip in your Computer's media player
To consult Michel Chossudovsky detailed article on the process of fiscal
collapse, click below:
America's Fiscal Collapse / http://tinyurl.com/dzg67u
- by Michel Chossudovsky - 2009-03-02
Excerpt
At first sight, the budget proposal has all the appearances of an
expansionary program, a demand oriented "Second New Deal" geared
towards
creating employment, rebuilding shattered social programs and reviving
the
real economy.
The realities are otherwise. Obama's promise is based on a mammoth
austerity
program. The entire fiscal structure is shattered, turned upside down.
To reach these stated objectives, a significant hike in public spending
on
social programs (health, education, housing, social security) would be
required as well as the implementation of a large scale public
investment
program. Major shifts in the composition of public expenditure would
also be
required: i.e. a move out of a war economy, requiring a movement out of
military related spending in favour of civilian programs.
In actuality, what we are dealing with is the most drastic curtailment
in
public spending in American history, leading to social havoc and the
potential impoverishment of millions of people.
The Obama promise largely serves the interests of Wall Street, the
defence
contractors and the oil conglomerates. In turn, the Bush-Obama bank
"bailouts" are leading America into a spiralling public debt crisis.
The
economic and social dislocations are potentially devastating.
Obama's budget submitted to Congress on February 26, 2009 envisages
outlays
for the 2010 fiscal year (commencing October 1st 2009) of $3.94
trillion, an
increase of 32 percent. Total government revenues for the 2010 fiscal
year,
according to preliminary estimates by the Bureau of Budget, are of the
order
of $2.381 trillion.
The predicted budget deficit (according to the president's speech) is
of
the order of $1.75 trillion, almost 12 percent of the U.S. Gross
Domestic
Product.
War and Wall Street
This is a "War Budget". The austerity measures hit all major federal
spending programs with the exception of: 1. Defence and the Middle
East
War: 2. the Wall Street bank bailout, 3. Interest payments on a
staggering
public debt.
The budget diverts tax revenues into financing the war. It legitimizes
the
fraudulent transfers of tax dollars to the financial elites under the
"bank
bailouts".
The pattern of deficit spending is not expansionary. We are not dealing
with
a Keynesian style deficit, which stimulates investment and consumer
demand,
leading to an expansion of production and employment.
America's Fiscal Collapse
--------------------------------------------------------------------------
The Economic Depression was predicted in Michel Chossudovsky's 2003
best-seller
The Globalization of Poverty and the New World Order
http://tinyurl.com/cfbhhz
Global Research Articles by Michel Chossudovsky
#######
-----
From: Brian Forrest
Sent: Wednesday, March 18, 2009
Subject: Re: Obama's Budget Will Impoverish America. CRG E-Newsletter
Great interview!
Summary---
"America's Fiscal Collapse - Obama's Budget Will Impoverish America"
The administration's 2010 budget will entail the most drastic curtailment
in
public spending in American history, leading to social havoc and the
potential impoverishment of millions of people. Defense spending and bank
bailouts will consume all government revenue resulting in fiscal collapse
that will lead to the privatization of the state.
Bush was just the warm-up. Obama, as Webster Tarpley says, was brought in
under left cover. Obama has installed Wall Street directly in the new
administration, the financial agents and lobbyists who got us into this
current financial crisis now hold posts in Obama's Administration.
What Obama fears the most is a protest from the left. So the NWO agent
Rush
Limbaugh is providing distraction with the republican vs. democrat
left-right spin game. He is deliberately helping Obama to keep the
illusion
alive that there is a difference between a Republican and Democratic
Administration.
The Obama situation summed up well in this new video by Alex Jones---
Video: The Obama Deception
http://video.google.com/videoplay?docid=7886780711843120756&ei=p9-_SYncC6e6qAPz0aC-AQ&q=the+obama+deception
#################
From: Willy Maze <[email protected]>
Subject: Re: Obama's Budget Will Impoverish America.
Date: Monday, March 16, 2009, 9:25 PM
Take a listen to this interview below by Bonnie Faulkner of Michel
Chossudovsky
The outright criminalization of the financial system in progress...
Thomas Jefferson Quote
"If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them (around the banks),
will deprive the people of their property
until their children will wake up homeless
on the continent their fathers conquered."
Take a listen.
Download this clip (mp3, 10.28 megabytes)
http://tinyurl.com/ctw3lp
Play this clip in your Computer's media player
http://tinyurl.com/d6aa2h
#===
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