Obama Wants Dictatorial Power to Increase Debt

“I wish it were possible to obtain a single amendment to our Constitution — taking from the federal government their power of borrowing. “
– Thomas Jefferson

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”
– Thomas Jefferson

See also:

Since Obama Has Been President The National Debt Has Increased $49,432.73 Per Household (CNS News)


Obama Wants Dictatorial Power To Increase Debt (PressTv, Nov 30, 2012):

The former president of the Federal Reserve Bank of New York and current Treasury boss Timothy Geithner has informed Republicans that Obama wants absolute authority to increase the national debt.

Geithner’s proposal was met with derision and laughter by Republicans.

“Well, it’s outrageous,” Sen. John Cornyn (R-Texas) told Fox News when asked about Obama’s plan to personally dictate the finances of the United States. “It’s profoundly irresponsible. So that’s a crazy idea and I’m amazed that Secretary Geithner had the courage to float that yesterday.”

The idea floated by Geithner would give the president sole power to unilaterally raise the debt ceiling at any time. Congress could pass a resolution to stop the increase, but it would require a two-thirds vote of both chambers to pass and could still be vetoed by the president.

As it now stands, the so-called debt ceiling can only be increased following a vote by Congress.

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Obama ‘Crazy’ To Claim Unilateral Debt Ceiling Power (The Hill)

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Since Obama Has Been President The National Debt Has Increased $49,432.73 Per Household (CNS News)


Cornyn: Obama ‘crazy’ to claim unilateral debt ceiling power (The Hill, Nov 30, 2012):

Sen. John Cornyn (R-Texas), who will soon be the second-ranking Republican in the Senate, on Friday panned a proposal by the White House that would allow President Obama to raise the debt ceiling without congressional approval.

Cornyn was referring to a plan Treasury Secretary Tim Geithner presented to Speaker John Boehner (R-Ohio) on Thursday that was meant to avoid the “fiscal cliff” of tax increases and spending cuts.

The plan, which sparked strong Republican criticism, included a provision allowing the White House to raise the debt ceiling without the consent of Congress.

“Well, it’s outrageous,” Cornyn said on Fox News.

“It’s like saying we maxed out our credit card so I’m going to get a new credit card with no limit so I can keep spending. There needs to be some accountability here and, so far, we’re spending 42 cents out of every dollar in Washington and that’s borrowed money. And that’s money that our kids and grandkids are gonna have to pay back.”The provision is meant to avoid the standoff that occurred in the summer of 2011 when Obama struggled to win congressional Republicans’ consent to raise the debt ceiling.

Cornyn went on to say that the proposal was “irresponsible.”

“It’s profoundly irresponsible,” Cornyn said. “So that’s a crazy idea and I’m amazed that Secretary Geithner had the courage to float that yesterday.”

How Amazon Followed Google Into The World Of Secret Servers

How Amazon Followed Google Into the World of Secret Servers (Wired, Nov 30, 2012):

Chris Pinkham was walking through a data center that would one day house Amazon’s seminal cloud computing service — the Elastic Compute Cloud — when he came face to face with a cage of Google machines.

This was a decade ago, when Pinkham oversaw the hardware and software that ran Amazon, and the company was considering a spot in the data center, which housed machines for many web operations and other businesses. Google would later pull a curtain around its data-center hardware, moving much of it into private facilities, but in those days, it was easier for competitors like Pinkham to lay their eyes on Google machines.

Pinkham was struck by how different the machines looked — and how hot they were. Even then, Google was running its website on dirt-cheap, stripped-down servers slotted into extremely tight spaces. They didn’t even have plastic cases.

“They were clearly not your average Dell, HP, IBM servers. They were white box machines, very densely packed. They weren’t in containers. They were just blades jammed into these custom racks,” remembers Pinkham, who went on to lead the team that built the Elastic Compute Cloud and now runs a cloud software startup called Nimbula. “And I remember a lot of heat coming off them — an indication of a lot of concentrated power.”

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Wake Up! 11 Facts That Show That Europe Is Heading Into An Economic Depression

Most countries in Europe are already in depression.

Ask Gerald Celente and others if you don’t believe me.

The big reset, the greatest economic collapse in world history is coming.

This is the ‘Greatest Depression’.

And many people seem not to get what I am really talking about when I say ‘prepare for collapse’ and what I mean by ‘total collapse’ and the resulting consequences.

(You need food, water and full survival gear [And don’t forget that sleeping bag for extreme cold conditions!], gold & silver and if possible a fully equipped, self-sufficient remote farm … and friends.)


Wake Up! 11 Facts That Show That Europe Is Heading Into An Economic Depression (Economic Collapse, Nov 30, 2012):

Europe is not just heading into another recession.  The truth is that Europe is heading into a full-blown depression.  The economy of the EU is actually larger than the U.S. economy, and we are watching it melt down right in front of our eyes.  Things just continue to get worse in Europe, and yet somehow the authorities over in Europe just keep insisting that everything is going to be “just fine”.  Well, everything is not “just fine” over in Europe right now.  Unemployment in the eurozone has just hit another brand new record high.  In some nations in Europe, the unemployment rate is already significantly higher than anything the United States experienced during the Great Depression of the 1930s.  Europe is a continent that is collapsing under the weight of its own debt, and this is just the beginning.  A lot more pain is on the way.  Officials over in Europe are trying to hold the European financial system together with duct tape and prayers, but it could literally fall apart at any moment.  Europe has a much larger banking system than the United States does, so when a financial collapse happens in Europe, it is going to be very significant for the entire globe.  Sadly, most Americans do not even pay attention to much of anything that is happening in Europe.  They tend to think that the United States is the center of the universe and that as long as we are fine that everything will be okay.  Well, all of those people who are not paying attention need to wake up.  First of all, the U.S. economy is most definitely in decline.  Secondly, the European economy is imploding right in front of our eyes and Europe is going to end up dragging the entire globe down with it.The following are 11 facts that show that Europe is heading into an economic depression…

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34 Signs That America Is In Decline

34 Signs That America Is In Decline (Economic Collapse, Nov 29, 2012):

The United States is clearly in an advanced state of decline.  Many people around the world (and even inside America) rejoice at this, but not me.  I mourn for the country that I was born in and that I still love.  Yes, the United States has never been perfect, but the Republic that our Founding Fathers started truly has been a light to the rest of the world in a lot of ways over the centuries.  Unfortunately, our foundations are badly rotting and our nation is collapsing all around us.  Many Americans like to think that the United States is greater today than it has ever been before, but the truth is that America is like a patient that has stage 4 cancer that has spread to almost every area of the body.  Our nation is being destroyed in thousands of different ways, and more distressing news emerges with each passing day.  This article will mainly focus on the economic decline of America, but much could also be said about our social, political, moral and spiritual decline as well.  We are simply not the same country that we used to be.  Americans are proud, selfish, greedy, arrogant, ungrateful, treacherous and completely addicted to entertainment and pleasure.  Our country is literally falling apart all around us, but most Americans are so plugged into entertainment that they can’t even be bothered to notice what is happening.  Most Americans seem to assume that we will always have endless prosperity just because of who we are, but unfortunately that simply is not true.  We inherited the greatest economic machine the world has ever seen and we have wrecked it, and now a very painful day of reckoning is approaching.  But most people will not understand until it is too late.The following are 34 signs that America is in decline…

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All Of This Whining About The Fiscal Cliff Is Pathetic

See also:

The Cost Of Kidding Yourself: Proof That The US Has Been In Recession 9 Of The Last 10 Years – Japan Is Even Worse


All Of This Whining About The Fiscal Cliff Is Pathetic (Economic Collapse, Nov 28, 2012):

The fiscal cliff is coming!  Run for the hills!  There have been endless stories in the mainstream media about the “fiscal cliff” that our country is facing if the Democrats and the Republicans can’t come to some sort of an agreement.  If there is no agreement, taxes will go up and government spending will be reduced by a very small amount.  And yes, that would likely push the U.S. economy into another recession, although there are many that would argue that we are already in a recession right now.  In any event, there is a tremendous amount of distress out there about the fact that something might interrupt the debt-fueled prosperity that we have all been enjoying.  You can almost hear them now: “No! Please don’t cut government spending! Please don’t raise taxes! Please keep stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day so that we can continue this economic illusion that feels so very good.”  The American people want the government to give everything to everybody, but they definitely do not want to pay for it.  They want a big government that showers them with government checks and government benefits, but they don’t want to cough up the ridiculous amount of money that it would take to fund such a government.  So we just keep ripping off our kids and our grandkids.  What we are doing to future generations is not just immoral, it is criminal.  If they get the chance, someday they will look back and curse us for destroying their futures and destroying their country.  So why do we continue to do this to them?  Because we are greedy and selfish and we are absolutely desperate to maintain the massively overinflated standard of living that we have been enjoying.  We have lived way above our means for so long that we don’t even know what “normal” is supposed to be anymore.But nobody can spend far more money than they bring in forever.  At some point an adjustment comes, and our adjustment is going to be exceedingly painful.

Read moreAll Of This Whining About The Fiscal Cliff Is Pathetic