You are hereiraq-war
iraq-war
US national debt: $10+ tril, increasing $3.99 bil daily. US population: 305 mil; each citizen’s share: $35k
Shocking figures about the US National Debt:
(quote)
1.
7 Oct 08 - National Debt passes $10 trillion (Huffington Post)
Bush Administration adds $4 trillion to National Debt (CBS News)
2.
The estimated population of the United States is around 305 million.
So each citizen's share of this debt is close to $35k.
3.
The (National Debt has continued to increase an average of
$3.99 billion per day since Sept. 28, 2007!
(unquote)
Original Source: brillig.com
Trillion? US national debt clock in Times Square runs out of digits for the first time as debt exceeds $10 trillion
(quote)
The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiraling figure. The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign ran out of digits for the first time.
The clock, located in Times Square, shows the amount of money owed by the US government. It was created by the late Manhattan real estate developer Seymour Durst, who put the sign up in 1989 to call attention to what was then a $2.7 trillion debt. The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.
For the time being, the Times Square counter's electronic dollar sign has been replaced with the extra digit required. For its part, the digital dollar symbol has been supplanted by a cheaper version - perhaps a sign of the times for the American economy.
Some economists believe the $700bn bail-out plan for ailing US financial institutions could send the national debt level to $11 trillion.
(unquote) read more »
Unforeseen consequences - 2002 vote for Iraq War dug $635bil hole in 6 yrs, now another vote $700bil to fill it?
(quote)
Like the momentous 2002 decision authorizing the invasion of Iraq, Congress' vote on a $700 billion financial industry bailout figures to reverberate unpredictably, both for the economy and for the politicians vowing to protect it.
The White House and congressional leaders already have made up their minds. Confronted with the defeat of an earlier measure in the House this week and increasingly urgent warnings of economic hardship, they've begun rounding up votes the old-fashioned way.
They're buying them.
A revised bailout bill includes tens of billions of dollars in tax breaks for the middle class, for homeowners who don't itemize their deductions, and for property owners in Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Add on the $3 billion funding dollop for rural school programs over the next five years. And another $8 billion over the same period in disaster aid, much of it for Midwestern states. And toss in unrelated legislation, far-reaching in its own right, requiring insurance plans to provide better benefits for mental health.
None of these has any direct bearing on the problem afflicting Wall Street and the entire economy. Yet in the currency of Congress, each is rapidly becoming part of the solution.
Yet if the vote on Iraq is any indication, the consequences will be more profound than even the lawmakers understood at the time. read more »
Tony Blair begins Faith and Globalization lecture series at Yale, says religion has potential to harm or heal
(quote)
Former British Prime Minister Tony Blair went back to school Friday, launching his new role as a lecturer on religion at top US university Yale. During the first seminar, he said that religious faith inspired some people to do harm but it also had the potential to do great things in the modern world. The "faith and globalization" course is intended to explore religious faith's power to bring the world's people together instead of driving them apart.
"I genuinely believe that the issue to do with faith and globalization is the single-most determining issue of the 21st century", said Mr Blair During the first seminar, "Faith is important because it motivates people...to do harm. But it also has the potential to do good." The course he is co-teaching as Yale's Howland Distinguished Fellow is linked to the work of the Tony Blair Faith Foundation, which seeks to work for peace between religions in an age of globalization. Blair is also a special envoy of the Mideast Quartet, the group of big powers attempting to coordinate a peace process between Israel and the Palestinians.
Lehman bankrupt, Merrill sold; worst day on Wall Street since 9/11 shakes major markets worldwide, shares tumble
(quote)
In one of the most dramatic days in Wall Street’s history, Lehman Brothers, the 158-year-old, fourth-largest U.S. investment bank that predates the Civil War and weathered the Great Depression, filed the largest bankruptcy in American history; while Merrill Lynch, the third largest investment firm, has agreed to sell itself to Bank of America, the nation's largest bank.
Investors suffered their worst losses since the terrorist attacks of 2001. Amid worries that the bankruptcy of Lehman Brothers and the sale of Merrill Lynch might not be enough to stop the downward spiral, stocks fell sharply in the last half hour of trading. By the end of the day, the Dow Jones industrial average had dropped 504.48 points, or 4.4 percent, as a record volume of more than 8 billion shares traded hands on the New York Stock Exchange. It was the biggest decline since Sept. 17, 2001 - the day the index reopened after the 9/11 terrorist attacks - when it fell 7 percent, or 684.81 points. read more »
Ron Paul addresses crowd of more than 10000 people at Minneapolis rally, counter-convention rivals RNC next door
(quote)
MINNE- APOLIS, Minnesota (CNN) -- While Republicans pow- wowed in St. Paul, sup- porters of Ron Paul threw their own party in neighboring Minneapolis. "Freedom brings people together," Paul said before a sold-out crowd at Tuesday's Rally for the Republic.
Paul, who said he entered the presidential race reluctantly, told the roaring audience, "I lost my skepticism. I hope you lost your apathy." As the congressman stepped on stage, red, white and blue confetti fell from the ceiling during a two-minute standing ovation.
Paul said he entered the presidential race not because of what he wanted to do but because of what he did not want to do. "I did not want to run people's lives. I did not want to run the economy and I did not want to run the world. I didn't have the authority to do it, and I didn't have the Constitution behind me to do it," said Paul, who has served in the House of Representatives for more than 30 years.
Iraq Prime Minister pushes for firm withdrawal date, demands all foreign troops out by 2011
(quote)
BAGHDAD — Days after top Iraqi and American officials suggested that a draft of the security pact between the countries was close, Prime Minister Nuri Kamal al-Maliki toughened his language, reiterating earlier Iraqi demands for a fixed date for the withdrawal of American troops. “It is not possible for any agreement to conclude unless it is on the basis of full sovereignty and the national interest, and that no foreign soldiers remain in Iraqi soil after a defined time ceiling,” Mr. Maliki said in a speech to Shiite tribal leaders in Baghdad’s Green Zone.