Washington's money tree just got bigger.
 

Obama literally now has a blank checkbook.. Unfucking believable..



America's New Budgetless Reality Is "Betrayal Of American Taxpayers", Says Republican House Leader John Boehner
Submitted by Tyler Durden on 06/22/2010 11:41 -0500

Budget Deficit Creditors Fail Market Manipulation Peter Orszag Reality Steny Hoyer


House Democrat leader Steny Hoyer will today announce that the US will not pass a budget in 2010 as “It isn’t possible to debate and pass a realistic, long-term budget until we’ve considered the bipartisan commission’s deficit-reduction plan, which is expected in December." Yet "the House has never failed to pass an annual budget resolution since the current budget rules were put into place in 1974." The real reason of course is that the budget would indicate new and unprecedented trillions in deficits, which would wreak havoc on Democrat chances to contain their upcoming mid-term election loss to just "landslide" status, instead of what is increasingly shaping up as being more in the "apocalyptic" category. Those whose memory spans longer than 24 hours, will recall that Peter Orszag resigned yesterday. Something tells us these two events may be correlated. In the meantime, we are now convinced that realizing the hopelessness of its political situation, the administration and the Fed will now create the most ridiculous, unprecedented, destructive and historic market melt up in history to preserve any chances of demonstrating just how "effective" their market manipulation, pardon, economic resurgence efforts are. If you are short, be ready to have all your shares forcibly called in over the next 4 months. At least the humor of the situation is not lost on one person: House Republican leader John Boehner has taken out a page on his website to lampoon the tragicomedy that US economic and fiscal reality has become.

From John Boehner's Website

Cancelled: There Will Be No Congressional Budget This Year
***The Following Is An Important Fiscal Health Announcement***



Washington (Jun 22)
In light of House Majority Leader Steny Hoyer’s (D-MD) announcement this morning that House Democrats will not pass a budget this year – failing to fulfill what he has called “the most basic responsibility” of governing – the following important fiscal health warning has been issued:

THE BUDGET HAS BEEN

CANCELLED

WE REGRET TO INFORM YOU THAT

THE CONGRESSIONAL BUDGET

PLANNED FOR FISCAL YEAR 2011 HAS BEEN CANCELLED DUE TO WASHINGTON DEMOCRATS’ OUT-OF-CONTROL SPENDING SPREE.

AN APOLOGY FOR THIS BETRAYAL OF AMERICAN TAXPAYERS DOES NOT APPEAR TO BE FORTHCOMING AT THIS TIME

Continued
http://www.zerohedge.com/article/ame...use-leader-joh

What did they do before 1974 and why wasn't it a betrayal of America before then? Serious questions...

I'll have to look into pre-1974 but it doesn't really matter. It should be pretty obvious that these people are out of control. More or less this is saying they are just going to keep writing checks and sending us the bill.

Aren't they going to keep spending money even if they came out with a budget? It's not like we ever actually stick to the budget anyway.

So, you are okay with this? You don't think they should at least have something to adhere to? You really think this is a good idea?

Who's we?

Thank god we can keep borrowing an endless supply of cash from China to pay for this administration.

If they made it and stuck to it, then yes... but they never do anyway, so what's the point? It's not like Bush stuck with the budget when he did his record bailouts...

It's not like the budget is what says they can or can't spend money. It's just a pretty paper that tells you how they think money could be spent.

And the budget is coming, it's just late... not like our Gov hasn't put things off before, all of which make no difference.

When I say "we never stick to a budget" that confused you? You're an American I would assume?

Give me control of a nation's money and I care not who makes her laws. Mayer Amschel Rothschild

Okay? Not having a budget doesn't give them anymore control than these people already have over everything.

I have to stick to my budget as an American. I don't get an unlimited checkbook. If I can't pay my bills I get booted from my home. If I don't pay my taxes which is how their unlimited checkbook is payed for I get my shit seized and auctioned off. I don't want ANYONE spending my, my kids, and their kids money without telling me how it's spent.

You're still getting a new budget... it's just delayed.

With your example, you wouldn't get booted you would simply take out another loan and keep going on. Difference is, you don't have to repay this loan.

You also just made a Rothschild quote, I assumed you understand how the fake money system works. It's already one system across the world. When America buys something, that something was already paid for by someone, before we pay for it again. Nothing is ever cleared from the ledger, anywhere. Anytime the gov prints money for any reason, it's debt every single time - that will never be paid off, nothing is ever removed from the ledger. It will never stop, never be paid off and it doesn't have to be.

It makes no difference that they spend money, it would just be nice if they spent it in some better places to help keep the money flow moving into smarter areas, like companies that hire people.

Without this system, wealth as we know it would stop being created.

I do, which is why I don't like it.


Exactly, a small group of people couldn't manipulate society and get rich doing it from the unlimited checkbook. All the while taking more and more away from me.

You should tell that to the people in Iceland, Greece, France, etc, etc.. It seems to me that someone or something wants their money.

capitalism is dying. this is it's death throes. :pimp

uh, great source.