Congress To Skip A Budget This Year

Discussion in 'Wall St. News' started by pspr, Apr 12, 2010.

  1. pspr


    Can you believe it? Politics trumps sanity in Congress once again.

    Congress is poised to miss its April 15 deadline for finishing next year’s budget without even considering a draft in either chamber.

    Unlike citizens’ tax-filing deadline, Congress’s mid-April benchmark is nonbinding. And members seem to be in no rush to get the process going.

    Indeed, some Democratic insiders suspect that leaders will skip the budget process altogether this year — a way to avoid the political unpleasantness of voting on spending, deficits and taxes in an election year — or simply go through a few of the motions, without any real effort to complete the work..............
  2. Ha. The US is so bankrupt its hot even funny. No one is congress has realized that the financial collapse of the west is near if they dont do something to get our debt down.
  3. Saw a good movie recently called I.O.U.S.A. check it out if you haven't already. We're so f*cked, it's only a matter of when not if at this point. The status quo will continue until we drive over the cliff. The sad part about it is when the I.O.U.S.A movie was filmed the debt was *only* 8 trillion. Tack on another 4+ in less than two years to the debt plus unfunded liabilities and you are looking at 60+ trillion and growing. :eek:
  4. aegis


    Government debt is not the same as private debt. It's of little relevance. Just keep printing the money and worry about the next bubble later.
  5. Wait until the govt doesn't have enough money to pay for the military... then you will see why this is not true.
  6. all money is debt in th system we have right now. compound interest is the death of this system
  7. And people are actually wondering the real reason the fed wont budge. :D
  8. At somepoint this system is going to give the biggest middle finger to the whole world and crash in such a spectacular fashion that they will talking about it for the next 2000 years.
  9. Mistos


    I wonder why
  10. How can Congress just skip the budget process entirely? Who will decide who gets what funds? I am not very knowledgeable about the USA budgetary process.
    #10     Apr 12, 2010