Saturday, October 4, 2008
Defence + Bailout = $1.3 Trillion Dollars!
Yep, We the Sheeple have been fleeced for $1,312,000,000,000 to prop up the Industrial War Complex and the Corporate Government that pre-emptively and systematically put us into war in the Middle East. Not only did Bu$hco lie, cheat,and steal to do so, but also entrenched Neoconservative operatives in every part of government, education, business, social programs etc. etc. etc. Bu$hco also initiated the Ownership Society and the necessary loan and credit programs to put this in place, such as Fannie Mae and Freddie Mac. Not only that but Bu$hco initiated the Healthy Forest's Initiative to make more lumber available to build the homes that are now being foreclosed on. And, as you and I know, the list of Bu$h crimes would easily fill his proposed Presidential Library.
I don't know about you, but I'm concerned about keeping warm this winter...G:
Bush signs sprawling spending bill
Sept 30, 2008
WASHINGTON (AP) — President Bush on Tuesday signed a sprawling, stopgap spending bill to keep the government running for the next 12 months.
The president's move, which came on the last day of the government's budget year, was expected even though the measure spends more money and contains more pet projects than he would have liked. The legislation is one of the few bills this election year that simply had to pass.
The $630 billion-plus spending bill wraps together a record Pentagon budget with aid for automakers and natural disaster victims, and increased health care funding for veterans returning from Iraq and Afghanistan.
The measure also lifts a quarter-century ban on oil drilling off the Atlantic and Pacific coasts, a victory for Bush and fellow Republicans.
CRISIS ON WALL STREET
Bush signs sweetened bailout bill
Chastened House reverses itself and approves potentially the most expensive government intervention in U.S. history
October 4, 2008
WASHINGTON -- A $700-billion financial bailout, now adorned with many more billions to make it politically palatable, was finally passed yesterday after a wild week in which fear sent markets plunging and the broader economy showed serious signs of stress.
U.S. President George W. Bush hastily signed the bailout bill that could cost American taxpayers $700-billion and then, in a short Rose Garden appearance, told them they would probably get their money back.
"The government will purchase troubled assets," he said. "And once the market recovers, it is likely that many of the assets will go up in value. And over time, Americans should expect that much, if not all, of the tax dollars we invest will be paid back."
Mr. Bush's successor in the Oval Office will inherit the massive payout designed to restore confidence and liquidity to a system savaged and choked by toxic debt. Any payback could be several presidents away.
Massive US military budget passed
October 4, 2008
US wrong to believe it can maintain both a military and civilian economy
While debate over the Paulson bailout package dominated the headlines, the US Congress quietly passed a landmark $615 Billion defense spending bill. One of the few people to comment on the measure was Chalmers Johnson, in his article "We have the money". Chalmers explains to Real News Senior Editor Paul Jay how the military-industrial complex is a driving force behind the current financial crisis and a determinant of much of what happens in Washington. He also criticizes the omission of the military-industrial complex from the political discourse determined by the two major parties and the media.
Bailout a "really big number"
October 4, 2008
Bailout bill no relief on foreclosures as 159,000 more jobs were lost in September, markets down again
The financial bailout package was passed by the US House of Representatives on Friday but 108 Republicans and 63 Democrats still refuse to approve the bill. Markets drop anyway with the Dow Jones losing 818 points on the week. Jobs in September slashed by 159,000 and home foreclosures at 770,000 since August 2007 expected to continue to rise. The Real News Network talks to Michael Perelman, Professor of Economics at California State University, Chico.