Obama has led US to £338bn bill - and to the edge - and to the edge of a financial abyss

MAILONLINE ^ | 11 Nov 12 | Simon Heffer

[elhombrelibre]

On the streets of Manhattan last week, the American public were more concerned about the delay in restoring their public services after Hurricane Sandy than about the entrails of politics following the presidential elections.

New York votes Democrat. It took for granted that Barack Obama would get a second term, and did not look much beyond that.

Now, though, all America is having to peer into an abyss – or, to use the metaphor of the moment, over a ‘fiscal cliff’.

It describes the moment on January 1 when, unless the Republican-controlled House of Representatives and the Democrat President come to an agreement, huge tax rises will be accompanied by some deep federal spending cuts that experts fear will tip the country into recession.

[elhombrelibre]

Keep in mind that we can turn to foreign sources to find out what is happening in the US.

[Gaffer]

Rabid Reid is about to try and raise the debt ceiling another $2.4 trillion. That should do us for 2013, huh?

[elhombrelibre]

Opposition to Obama-ism is racism. Spend it all until there is no more money.

[Diana in Wisconsin]

Let me be clear: 0bama is taking the REST of the financial world down with us.

[uncommonsense]

Not to worry - the Fed's buying up everything that the Chineese won't. We call it “printing money”, but it's even simpler than that - it's where the debits of the Fed become the credits of Treasury without so much as a drop of ink being used... Viola - new IOUs to pay off the devalued old IOUs

[ducttape45]

Duplicate post, I know, I posted it.

http://www.freerepublic.com/focus/f-news/2958148/posts

[hondact200]

the Foreign News Service is the ones that are divulge what the media in the uS will not. Pretty soon we will have to read Pravda only to get the truth of what is happening in DC. canada Free press gives more information than many of the US Papers. i can read the Guardian Telegraph from Great Britian and know more from them than even the Wall Street Journal (since it merged with NBC, it is not reliable on the radio0

[fhayek]

A couple trillion here, a couple trillion there, soon we will be talking about real money.

[bandleader]

I believe that”Sandy”did aid Obama but not because it gave him a brief “window”to appear”Presidential”;I believe it was a DISTRACTION from the importance of this election!!!!!!

[Jack Hammer]

Lenin knew well that before there can be a revolution and a communist takeover of the governing apparatus, the country must be deep in crisis - a lesson not lost on Premier Hussein.

[dfwgator]

Lenin knew well that before there can be a revolution and a communist takeover of the governing apparatus, the country must be deep in crisis - a lesson not lost on Premier Hussein.

Hitler knew the same thing.