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Forum Post: The Federal Government’s Debt Increased by $203,368,715,583.63 in the Month of October, According to the U.S. Treasury

Posted 2 years ago on Nov. 2, 2011, 7:35 p.m. EST by MonetizingDiscontent (1257)
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Capital Account: Max Keiser, America runs the “Special Olympics for Financial Fraud”

(((Watch Video Here))) http://maxkeiser.com/2011/12/24/capital-account-max-keiser-america-runs-the-special-olympics-for-financial-fraud/
-December 24, 2011-

(Capital Acount) US congress today approved an extension of the payroll tax cut for two months...putting off a tax increase for millions of workers. So, after much partisan politicking, they did it -- saving face for the moment, but could it hurt their "-stock price-" headed into the 2012 elections? You heard me right.

We'll talk about the --political derivatives-- market a Chicago exchange is betting on. Would it be a continuation of a climate on wall street that encourages special treatment that our guest, fiancial journalist and inventor of the virtual specialist technology, -Max Keiser- calls "the special olympics for financial fraud."

And speaking of derivatives, those bets added fuel to the fire that engulfed the financial markets in 2008...most famously seen in the explosion and bailout of AGI (backdoor bailout of the big banks like goldman sachs, jp morgan, bank of america, etc.).

More recently, MF Global customer money used to trade on these exchanges went missing. So where do futures exchanges come from and where have they gone wrong? From Ancient Greece to MF Global we'll break it down.

And, heading into 2012 -- will it be a happy new year for the US economy? Maybe not. Economists predict sluggish 2 percent growth, an economy held down by housing troubles, government budget cuts, and a lousy job market. That didn't stop hoards of people from lining up at malls and waiting all night for a chance to buy the 175 dollar "IT" Air Jordans. We'll show you what happened.


The Federal Government’s Debt Increased $203 Billion in October

http://www.cnsnews.com/news/article/debt-increased-203-billion-oct-650-every-man-woman-and-child-america

(CNSNews.com) - The federal government’s debt increased by $203,368,715,583.63 in the month of October, according to the U.S. Treasury.

That equals about $650 per person for each of the 312,542,760 people the Census Bureau now estimates live in the United States...


5 Comments

5 Comments


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[-] 1 points by HappyLove (143) 2 years ago

It's unelievable there are still tax breaks. The rich profit the most by things the government does (roads to have their products driven over, police to protect their wealth etc), but they have been laughing their ass of at the rest since Bush gave them that lovely present.

[-] 1 points by Lockean (671) from New York, NY 2 years ago

Tax reform now. We currently have the lowest tax revenue as a percent of GDP in 60 years. See http://www.brianrogel.com/the-100-percent-solution-for-the-99-percent for more.

[-] 0 points by Jimboiam (812) 2 years ago

And roughly 55 million Americans, kids and elderly weren't pulling their weight to pay that bill. That is more like $1350 for every working, or working able american.

[-] 1 points by MonetizingDiscontent (1257) 2 years ago

Are you implying that the above figure represents delinquent mortgage payments? Or credit card debt?

If so, I'd really like to see that information linked here ;)

[-] 0 points by Jimboiam (812) 2 years ago

I was just taking the $203 billion in government deficit spending that the poster was referring too, and broke it down to the people who are actually producing or trying to produce in society. Most kids and elderly do not, so can't really give them a share of the debt if they can't pay for it can we?