Government Records $229 billion deficit for a month

Elections matter folks, this is why. Greece, here we come!

The U.S. government just notched its highest ever monthly deficit, with the red rink running to an estimated $229 billion in February.

The Congressional Budget Office, in a preliminary analysis, reported that the February 2012 deficit broke last year’s monthly record of $223 billion.

The office attributed the shortfall in part to a decline in revenue — mainly because of a $25 billion increase in income tax refunds thanks to disbursement timing issues.

According to the CBO, processing delays pushed refund payments that would have been distributed in January off into February. And the additional day in February this year allowed for extra refunds to be distributed during the month that otherwise would have been paid out in March.

The CBO projected that for the first five months of the fiscal year, the federal government is running a $578 billion deficit.

The projected deficit this year is once again projected to top $1 trillion

via Government Records Highest-ever Monthly Deficit | Fox News.

The only thing I can truly say about this one is this; elections matter. This is what happens when you put progressives and moderate Republicans in Government, they spend on your dime and you get stuck with the tab and most usually, you do not get a thing for it in return. This is why we have to get people elected to political office, in City, State and Federal levels; who at the very least, have the American people’s interests in mind and not their own political fortunes in mind. Because when the political veterans are running the show; both Republican and Democratic Parties; this is what you get —- Debt.

China cannot buy our debt forever, or eventually they will own this Country. Not to mention, China is not exactly a free Country. All China would have to do, is tell the United States that they will not be buy anymore of our debt and we, as a Nation, would be history. We, as Conservatives have no one to blame, but ourselves for this fine mess. The Republican Party elected a moderate Republican by the name of Richard Nixon, who wanted so badly to make a name for himself and that idiot liberal Republican just had to go to China and normalize relations with those Communist bastards. Which is pretty darned ironic, considering what the Communists in China did to John Birch. This is one Conservative who felt Watergate was nothing more than sweet justice. (…and No, I am NOT being snarky!)

This why we the American people, the silent majority; need to vote differently this coming November. Our Nation’s future might just depend on it.

Debate This: Is this Pete Hoekstra ad racist?

(H/T HotAir headlines)

I honestly do not know if it is or not. If anything, one could say that it is pandering to paranoia or populist sentiment in the conservative movement?

But, does it rise to the level of racism?

Comments welcomed here.

Is China’s Economy about to collapse?

This is not the first time I have heard this, but:

Which does China face? A popped real estate bubble could exert a big drag. Housing construction exceeds 10 percent of GDP. That’s historically high, says Lardy. At a similar stage of economic development, Taiwan’s housing investment was 4.3 percent of GDP. In the recent U.S. real estate boom, housing peaked at 6 percent of GDP. In China, housing stimulates much consumer spending (furniture, appliances) and accounts for 40 percent of steel production, notes Lardy. Land sales are also a big revenue source for local governments. All would suffer from a housing bust.

There are mitigating factors. Outside Beijing and Shanghai, it’s unclear that housing prices are “out of line with household income growth,” says economist Eswar Prasad of Cornell University. Chinese buyers also typically make large cash payments for their properties. Compared to United States, a housing bust is less likely to become a banking crisis as mortgages sour.

Whatever happens, China’s economic model is reaching its limits, as Lardy argues. It has relied on exports, promoted through the controlled exchange rate, and investment, including housing, subsidized by cheap credit. Meanwhile, Chinese savers have been punished by the low returns on deposits. This dampens their incomes and consumption spending. The trouble is that the global slowdown threatens exports and housing’s excesses threaten investment. Unless China can switch to stronger consumption spending, its economy will slow — or it will achieve growth by becoming even more predatory toward other countries. — Is a Chinese economic slump on the horizon? – The Washington Post

Go read that whole thing, because this is the best case for this belief. The funny thing, the people over a GoldSilver.com have been saying this for a while:

Go check them out and get into Gold and Silver; before you lose it all.

Google Says to China, 'If you keep hacking our servers, We will leave China'

I cannot blame them one bit.

We launched Google.cn in January 2006 in the belief that the benefits of increased access to information for people in China and a more open Internet outweighed our discomfort in agreeing to censor some results. At the time we made clear that “we will carefully monitor conditions in China, including new laws and other restrictions on our services. If we determine that we are unable to achieve the objectives outlined we will not hesitate to reconsider our approach to China.”

These attacks and the surveillance they have uncovered–combined with the attempts over the past year to further limit free speech on the web–have led us to conclude that we should review the feasibility of our business operations in China. We have decided we are no longer willing to continue censoring our results on Google.cn, and so over the next few weeks we will be discussing with the Chinese government the basis on which we could operate an unfiltered search engine within the law, if at all. We recognize that this may well mean having to shut down Google.cn, and potentially our offices in China.

The decision to review our business operations in China has been incredibly hard, and we know that it will have potentially far-reaching consequences. We want to make clear that this move was driven by our executives in the United States, without the knowledge or involvement of our employees in China who have worked incredibly hard to make Google.cn the success it is today. We are committed to working responsibly to resolve the very difficult issues raised.

via Official Google Blog: A new approach to China.

Which totally destroys the Conservative Meme that Google is some sort of evil socialist company. In actuality, Google strikes me as being more of a civil libertarian type of a group. Because Google is very big on privacy and has fought in court against privacy invasion; they also support many organizations that fight for privacy. The reason why Google is hammered by the right, is because they refuse to show deference to the American Christian Holidays. The reason they do this is to be fair to all of the faiths and because Google is not solely an American Company, but an international company with people from many faiths and backgrounds. Personally, I would like to see good be a bit more friendlier towards America, it’s Holidays and Customs, but, I do understand their position on the matter.

I personally commend Google’s stance on privacy and I am extremely happy to see Google stand up for the privacy of the people of China, especially those who are fighting against that Communist Government in China.