"Instead of making any serious effort to address the deficit, Washington politicians have decided to take a second drink at the federal employees' well," said William Dougan, president of the 110,000-member National Federation of Federal Employees, which said it has met with the administration.
U.S. hits the debt ceiling http://money.cnn.com/2011/05/16/news/economy/federal_workers_obama_debt/index.htm?iid=HP_LN
The two-year pay freeze was considered a preemptive strike against the burgeoning federal deficit and was carried out by the White House.
Now Vice President Joe Biden is working with lawmakers from both parties on a deal to raise the debt ceiling and cut spending at the same time."
TRUST should be a 4 letter word, that is what has been LOST in this crisis. The voting machine, the stock market is no longer valid, nor working. With PROGRAM TRADING and HFT dominating the landscape, machines do the bulk of the work, not individuals making informed investing decisions based on quality of company, earnings etc.
Change in accounting rules breeds mistrust of earnings data from financial institutions. MISDIRECTED TARP funds meant to cleanse systeme of bad paper instead went to bail out bad institutions, so no real reform has taken place.
A HUGE divide is being created between the have's and the not's, the connected and everyone else. NOT ONE SINGLE SHITHEAD has been brought to justice for what has been wrought upon us.
AS stocks fly, the main source of American value the home lays wasted and dormant trapping millions....and you will hear is political rhetoric and promises.
LARGE companies reporting BIG earnings, mostly got there by weak $ and cuts from overhead.....and are RELUCTANT to hire.....over 2 years into recovery so much more needs to be done....with no plan to do it.
$1.5-$1.6 TRILLION deficits as far as eye can see. We thought $600 Billion a year was bad...the EXTRA $TRILLION is taking the place of the private sector spending now GONE....recovery is a fraud.
D
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