US Approaching Insolvency but there’s always money for Israel

The following was sent to me by General (Ret) James David who is mentioned on the cover of the third edition of former Republican Congressman Paul Findley’s ‘They Dare to Speak Out’ book about the power/influence of the pro-Israel (AIPAC and similar) on the US political system and media:

Tuesday, March 22, 2011 11:58 AM
From: General (Ret) James David
 
I hope this Federal Reserve official (see article below) is wrong because the United States needs to stay solvent in order to continue paying Israel the $30 billion we promised them.

 
 
And now that Israel is asking for another $20 billion on top of the already promised $30 billion that we already give them, it just makes our solvency that much more important. 
  
I’m sure that the people on FOX News will convince the American people that this is the only right thing to do.  And with the exception of a few in Congress, it will pass the vote with flying colors. After all, isn’t Israel our strongest ally in the Middle East?  This systematic psychological conditioning has been used to brainwash most dumbfounded Americans for the past 40 years. It won’t stop now.
  
 
  
 
 
 
 
 

US Approaching Insolvency, Fix To Be ‘Painful’: Fisher

Published: Tuesday, 22 Mar 2011 | 10:10 AM ET
 
The President of the Federal Bank of Dallas, Richard W. Fisher
Jean Ayissi | AFP | Getty Images

 

The United States is on a fiscal path towards insolvency and policymakers are at a “tipping point,” a Federal Reserve official said on Tuesday.

“If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt.

“The short-term negotiations are very important, I look at this as a tipping point.”

But he added he was confident in the Americans’ ability to take the right decisions and said the country would avoid insolvency.

“I think we are at the beginning of the process and it’s going to be very painful,” he added.

Fisher earlier said the US economic recovery is gathering momentum, adding that he personally was extremely vigilant on inflation pressures.

 Fisher added that the U.S. Federal Reserve had ways to tighten its monetary policy other than interest rates, including by selling treasuries, changing reserves levels and using time deposits.

 Copyright 2011 Thomson Reuters. Click for restrictions.

 

4 Responses to “US Approaching Insolvency but there’s always money for Israel”

  • Patriot says:

    Ron Paul on AC 360 about sound money, peace and liberty

    http://www.dailypaul.com/161789/ron-paul-will-be-on-ac360-tonight

    Why is Israel Aid Exempt

    As US fiscal conservatives cut food programmes for poor children, military aid for Israel is left untouched.

    http://english.aljazeera.net/indepth/opinion/2011/03/201135115850632729.html

    Talking about the Israel Lobby with Brig. Gen. James David on the Liberty Hour

    http://neoconzionistthreat.blogspot.com/2008/09/talking-about-israel-lobby-with-brig.html

    http://www.youtube.com/watch?v=E2a96gTt6I8&feature=PlayList&p=661DC633F4106EC9&index=0&playnext=1

  • Patriot says:

    Congress to cut about $38 billion in federal spending and avert the first federal closure in 15 years but won’t touch the 30 additional billion going to Israel

    http://news.yahoo.com/s/ap/ap_on_re_us/us_spending_showdown

    ‘Historic’ deal to avoid government shutdown

    By DAVID ESPO, AP Special Correspondent David Espo, Ap Special Correspondent 15 mins ago
    WASHINGTON – Perilously close to a government shutdown, President Barack Obama and congressional leaders reached a historic agreement late Friday night to cut about $38 billion in federal spending and avert the first federal closure in 15 years.

    Obama hailed the deal as “the biggest annual spending cut in history.” House Speaker John Boehner said that over the next decade it would cut government spending by $500 billion, and won an ovation from his rank and file _tea party adherents among them.

    “This is historic, what we’ve done,” agreed Senate Majority Leader Harry Reid, D-Nev., the third man involved in negotiations that ratified a new era of divided government.

    They announced the agreement less than an hour before government funding was due to run out. The shutdown would have closed national parks, tax-season help lines and other popular services, though the military would have stayed on duty and other essential efforts such as air traffic control would have continued in effect.

    On side issues — “riders,” the negotiators called them — the Democrats and the White House rebuffed numerous Republican attempts to curtail the reach of the Environmental Protection Agency and sidetracked their demand to deny federal funds to Planned Parenthood.

    Anti-abortion lawmakers succeeded in winning a provision to ban the use of federal or local government funds to pay for abortions in the District of Columbia.

    Lawmakers raced to pass an interim measure to prevent a shutdown, however brief, and keep the federal machinery running for the next several days. The Senate acted within minutes. The House worked past midnight, so the federal government was to be technically unfunded for a short period of time, but there would be little — if any — practical impact

    The deal came together after six grueling weeks and an outbreak of budget brinksmanship over the past few days as the two sides sought to squeeze every drop of advantage in private talks.

    “We know the whole world is watching us today,” Reid said earlier in a day that produced incendiary, campaign style rhetoric as well as intense negotiation.

    Reid, Obama and Boehner all agreed a shutdown posed risks to an economy still recovering from the worst recession in decades.

    But there were disagreements aplenty among the principal players in an early test of divided government — Obama in the White House, fellow Democrats in control in the Senate and a new, tea party-flavored Republican majority in the House.

    “Republican leaders in the House have only a few hours left to look in the mirror, snap out of it and realize how positively shameful that would be,” Reid said at one point, accusing Republicans of risking a shutdown to pursue a radical social agenda.

    For much of the day, Reid and Boehner disagreed about what the disagreement was about.

    Reid said there had been an agreement at a White House meeting Thursday night to cut spending by about $38 billion. He said Republicans also were demanding unspecified cuts in health services for lower income women that were unacceptable to Democrats. “Republicans want to shut down our nation’s government because they want to make it harder to get cancer screenings,” he said. “They want to throw women under the bus.”

    Boehner said repeatedly that wasn’t the case — it was spending cuts that divided two sides.

    “Most of the policy issues have been dealt with, and the big fight is about spending,” he said. “When will the White House and when will Senate Democrats get serious about cutting federal spending.”

    By midday Friday, 12 hours before the funding would run out, most federal employees had been told whether they had been deemed essential or would be temporarily laid off in the event of a shutdown.

    Obama canceled a scheduled Friday trip to Indianapolis — and a weekend family visit to Colonial Williamsburg in Virginia — and kept in touch with both Boehner and Reid.

    The standoff began several weeks ago, when the new Republican majority in the House passed legislation to cut $61 billion from federal spending and place numerous curbs on the government.

    In the weeks since, the two sides have alternately negotiated and taken time out to pass interim measures.

    Originally, Republicans wanted to ban federal funds for Planned Parenthood, a health care services provider that is also the nation’s largest provider of abortions.

    Federal funds may not be used to pay for abortions except in strictly regulated cases, but supporters of the ban said cutting off government funds for the organization — currently about $330 million a year — would make it harder for it to use its own money for the same purpose.

    Democrats rejected the proposal in private talks. Officials in both parties said Republicans returned earlier in the week with a proposal to distribute federal funds for family planning and related health services to the states, rather than directly to Planned Parenthood and other organizations.

    Democrats said they rejected that proposal, as well, and then refused to agree to allow a separate Senate vote on the issue as part of debate over any compromise bill.

    Instead, they launched a sustained campaign at both ends of the Capitol to criticize Republicans.

    “We’ll not allow them to use women as pawns,” said Sen. Patty Murray, a fourth-term lawmaker from Washington who doubles as head of the Democratic senatorial campaign committee.

    For Congress and Obama there are even tougher struggles still ahead — over a Republican budget that would remake entire federal programs, and a vote to raise the nation’s debt limit.

    ____

    Associated Press writers Donna Cassata, Andrew Taylor, Alan Fram, Julie Pace and Ben Feller contributed to this story.

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