Thread: White House: No Balanced Budget by 2012

White House: No Balanced Budget by 2012

Wednesday, November 26, 2008 12:10 PM

The U.S. government will not reach its goal of balancing the federal budget by 2012 because of the response to the global financial crisis, the White House said on Wednesday.

"That's going to be put off for some time, no question about it," White House spokesman Tony Fratto said in response to a question about whether the government would still meet the 2012 goal.

"But this is what you want to see when you're in an economic downturn," he added. "You want to see the government to be able to take the actions that it can take to help to support growth. And we're in not just an economic downturn but one that's accompanied by and occurring at the same time as a financial crisis."

http://moneynews.newsmax.com/streettalk ... 55543.html

As long as fractional reserve banking and a private central bank are part of the economy, the budget will never be balanced. It is impossible, because there is never enough money to cover the cost of the interest and the princilpe. It [the debt] will do nothing but grow, and so will the interest until the people of America are so utterly lashed to the yoke of despotism that they will either succumb to slavery, or they will stand and face this evil institution of deceit and treachery, and abolish it's very nature from the borders of the United States of America, and the minds of soul-less men who's only desire is vain power, and false self importance.

That there has been established within these [American] shores a moneyed aristocracy that has chosen to model itself on that of the old British and European aristocracies that much blood was shed to eliminate, is a travesty of Americanism.

That there will always be vain and treacherous men who desire not only wealth, and the power of influence, is the test of the American People that will never cease. It is what keeps us humble, and truthful. But more importantly, it shows us that we have the liberty to right these wrongs every time they rise to the test our honor, and our dignity, and our very being. Or we should only become tenants to lords and masters like the people did in medeviel Europe so long ago, and if that is allowed to come to fruition, it would sink the American People into a new Dark Ages that would stagante the natural progress of a true Constututional Republic.