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American Empire Spending Its Way to Oblivion with $1.2 Trillion Deficit in 2009

By Mike Adams, January 8, 2009 | Key concepts: National debt, U.S. dollar and Debt spending

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The U.S. Congressional Budget Office today announced, to a stunned audience of financial observers, that the federal government would run a $1.2 trillion budget deficit in calendar 2009.

Why is the number so staggering? Because $1.2 trillion is equal to nearly the entire GDP of the nation of Canada.

This new debt spending will increase the already astonishing U.S. national debt by nearly 12%, plunging the United States of America into an era of rapidly-compounding debt from which there may be no fiscal escape.

How did the U.S. get to this point of runaway debt spending? U.S. Presidents and lawmakers have been nudging the nation towards a financial crisis for decades. But the real explosion happened three months ago when the U.S. Congress passed the $800 billion financial bailout legislation that sought to bail out the most incompetent bankers, insurance companies and financial institutions on Wall Street. The Federal Reserve followed that with trillions more in a seemingly Satanic blowout of money creation that saw top Treasury officials being possessed by evil demons a la The Exorcist.

The result? A virtual explosion of new money that's debasing the value of the U.S. dollar faster than a plummeting payout on a racehorse breaking its ankles mid-stride.

And the feds are just getting warmed up: Obama says the U.S. faces "years of trillion-dollar deficits," which means the compounded national debt is now a runaway train wreck that seems certain to jump the tracks in a massive hyperinflation blowout.

No nation in the history of the world has ever faced such large debts and survived. And yet the U.S. policy seems focused on borrowing and printing yet more money, even as our national leaders urge American consumers to go out and spend money rather than save money.

But the game appears to be almost over: Even China has now grown nauseous at the thought of swallowing yet more U.S. debt (http://www.iht.com/articles/2009/01...). If other international buyers walk away from the debt purchasing table, that will leave the U.S. Treasury with but one option: Print money like mad until they either run out of green ink or the dollar becomes so utterly worthless that creating more of it just isn't worth the effort.

Counterfeiting money just doesn't pay what it used to, huh? Especially at the highest levels of power, where counterfeiting currency is as routine as changing your own underwear.

Watch NaturalNews.com this Friday, January 9, 2009, for a hilarious, entertaining announcement about the U.S. financial situation. It's something new and unexpected, and it will have you either rolling with laughter or crying in disgust. Either way, it won't be boring.

Click to read:
American Empire Spending Its Way to Oblivion with $1.2 Trillion Deficit in 2009

From Finance.yahoo.com: The $1.19 trillion 2009 figure shatters the previous record of $455 billion, set only last year. It also represents more than 8 percent of the size of the economy, which is higher than the deficits of the 1980s. The 2009 budget year began last Oct. 1... more

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