Posted on 08/10/2011 10:59:53 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — President Barack Obama is meeting at the White House Wednesday afternoon with Federal Reserve chairman Ben Bernanke.
The meeting comes a day after the Fed announced it would offer super-low interest rates for two more years. The move was an unprecedented step to stem an economic free fall that dragged the stock market down earlier this week.
The president was also scheduled to meet separately with Treasury Secretary Timothy Geithner on Wednesday.
(Excerpt) Read more at google.com ...
I thought the Fed was independent of the Executive.
What’s up with this collusion crap?
LOL.
I’m sure the MESSIAH is going to be unhappy about yesterday’s “Economy won’t improve until Obama is GONE!” press release...
No wonder the market is down today. If 0bama goes in front of the cameras look out below.
Obama should ask for a personal loan on his own time.
Nothing is independent of the Executive, any more...it’s all collusion, all the time, now.
Obama is sitting down with Bernanke to talk about how the FED is going to create $1.6 Trillion or more to pay for Michelle’s clothes.
Subject: The new Budget “Deal”
2011 Federal Budget “Deal”
Federal Budget: $ 3,820,000,000,000 (3.82 Trillion)
Income: $ 2,170,000,000,000 (2.17 Trillion)
New Debt: $ 1,650,000,000,000 (1.65 Trillion)
Amount Cut: $ 38,500,000,000 (38.5 Billion) – about
1% of the total budget.
National Debt Total: $ 14,271,000,000,000 before this years budget.
Harry Reid is calling this a “historic amount“. The President said it
is a “historic deal”. John Boehner simply said, “We’ve come to an
agreement”.
Let’s Put This In Perspective. It helps me to think about these
numbers in terms that we can relate to.
Let’s remove eight zeroes from those numbers and pretend this is a
household budget for the fictitious Jones family.
Amount of money the Jones’s family spent this Year: $ 38,200
Total income for the Jones’s family this Year:
$ 21,700
Amount of new debt added to the credit card this Year: $
16,500
Outstanding balance on the credit
card: $142,710
New outstanding balance on credit
card: $159,210
So last week, the Joneses sat down at the kitchen table and agreed to
cut $385 from their yearly budget. A historic amount!
This should be where he ask for his resignation, but I doubt that will happen.
---------------------------
Titanic, deck chairs.
One would wonder if Bernanke & BAM will be skyping with George Soros, while the meeting takes place.
The blind leading the Blind......
Indeed.
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