US gov bankrupt; Soros bets against dollar; Stealth $247 billion in deficit healthcare spending

1) It's official! U.S. government is bankrupt 'It's only a matter of time before the public realizes it' The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the 2008 Financial Report of the United States Government released by the U.S. Department of Treasury, Jerome Corsi's Red Alert reports.  The difference between the $455 billion "official" budget deficit numbers and the $5.1 trillion budget deficit based on data reported in the 2008 financial report is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.  The calculations in the 2008 financial report are calculated on a GAAP basis ("Generally Accepted Accounting Practices") that includes year-for-year changes in the net present value of unfunded liabilities in social insurance programs such as Social Security and Medicare. Under cash accounting, the government makes no provision for future Social Security and Medicare benefits in the year in which those benefits accrue. …Williams told Corsi the federal government's deficit is hemorrhaging at a pace that threatens the viability of the financial system. He said the 2009 budget deficit will clearly exceed $2 trillion on a cash basis and the full amount must be funded by Treasury borrowing. He noted that it's not likely to happen without the Federal Reserve acting as lender of last resort by buying Treasury debt and monetizing the debt.  Corsi explained, "'Monetizing the debt' is a term used to signify that the U.S. Treasury will ultimately be required to print cash to meet Treasury debt obligations, acting in this capacity only because the Treasury cannot sell the huge amount of debt elsewhere, possibly not even to the Federal Reserve." See: http://www.wnd.com/index.php?fa=PAGE.view&pageId=113366 1a) Is alternative to dollar in works? Plan for 'Special Drawing Rights' creates competition for reserve currency The administration of President Barack Obama, without congressional authorization, is advancing a plan that could end the use of the U.S. dollar as the world reserve currency by setting up International Monetary Fund Special Drawing Rights to compete.  The move comes as the dollar heads toward a 14-month low of $1.50/euro and as some top fund managers, including some of President Obama's top financial supporters, worry the decline will continue as long as Obama depends on China to fund trillion dollar budget deficits.  It is Obama's promise to participate in a G20 nations agreement by giving $250 billion to the IMF to set up the alternative reserve currency that now has been documented in the final communiqué of the London meeting, according to the G20 website. At G20.org, a report under "The London Summit 2009" reveals the LondonSummit.gov.uk/en/ site where "Point 5" of the final communiqué says the G20 agreed to allocate that amount to Special Drawing Rights in a move calculated to provide the liquidity needed to position SDRs as a dollar alternative in international trade. Plans for the dollar alternative are coming into play just as a former science adviser to British Prime Minister Margaret Thatcher says the real purpose of the United Nations Climate Change Conference in Copenhagen on Dec. 7-18 is to use global warming hype as a pretext to lay the foundation for a one-world government.  "At [the 2009 United Nations Climate Change Conference in] Copenhagen this December, weeks away, a treaty will be signed," Lord Christopher Monckton told a Minnesota Free Market Institute audience recently at Bethel University in St. Paul.  "Your president will sign it. Most of the Third World countries will sign it, because they think they're going to get money out of it. Most of the left-wing regimes from the European Union will rubber stamp it. Virtually nobody won't sign it," he said. “I think the dollar is now under question," billionaire investor George Soros told CNBC during the G20 summit in London, noting that Obama agreed with the G20 to utilize the IMF to fund a "one-world currency" dollar alternative for international trade.  Soros, one of presidential candidate Obama's leading financial backers, also has launched a new attack against the dollar by calling on China to stop pegging Chinese currency to the dollar, a move that would cause the dollar to fall in value.  The Soros-run hedge firm Soros Fund Management continues to bet against the dollar in keeping with the hedge firm's reputation for betting against currencies Soros sees as weak.  International investment managers take warnings by Soros seriously, remembering that Soros earned his first $1 billion in 1992 by betting against the British pound. See: http://www.wnd.com/index.php?fa=PAGE.view&pageId=113550 2) Cap-And-Trade For Babies? Earth: An environmental writer mainstreams an idea floating around the green fringe — save the earth by population control and give carbon credits to one-child families. Are we threatened by the patter of little carbon footprints? …New York Times environmental writer Andrew Revkin participated in an Oct. 14 panel discussion on climate change with other media pundits titled "Covering Climate: What's Population Got To Do With It?" People who need people they are not. Participating via Web cam, Revkin volunteered that in allocating carbon credits as part of any cap-and-trade scheme, "if you can measurably somehow divert fertility rate, say toward accelerating decline in a place with a high fertility rate, shouldn't there be a carbon value to that?" He went on to say that "probably the single most concrete and substantive thing an American, young American, could do to lower our carbon footprint is not turning off the light or driving a Prius, it's having fewer kids, having fewer children." …Would this proposed carbon-credit carrot turn someday into a large stick? Would child exemptions disappear after the first child or worse? After all, we have a White House communications director, Anita Dunn, who considers mass murderer Mao Zedong her favorite philosopher. China has its one-child policy, which it vigorously enforces. I’ve got an idea. If you feel that people are destroying the planet, do us all a favor and rid us of YOUR presence, and the earth and all of us will be happier.  See: http://www.investors.com/NewsAndAnalysis/Article.aspx?id=509554 3) Morning Bell: The Senate Begins Voting on Obamacare This Week After thousands of Americans attended hundreds of townhalls this summer, after the President of the United States delivered a rare speech to a Joint Session of Congress, after endless coverage of legislative markups in the relevant congressional committees, what if the Senate began actual floor votes on the health care overhaul and the drive-by media refused to cover it? Couldn’t happen? It already is. This week the Senate is set to vote on a measure that would approve spending for almost one quarter of Obamacare’s $1 trillion price tag. Sen. Debbie Stabenow (D-MI) has introduced, and Majority Leader Harry Reid (D-NV) is moving to the floor, S. 1776 which, as we explained yesterday, raises Medicare provider reimbursement rates by $247 billion over the next ten years and $3 trillion over the next 75. Under current law, doctors nationwide are set to take a 21.5% pay cut for every Medicare patient they see starting in January 2010. Such a cut could lead many doctors to abandon Medicare patients, thus significantly undermining our entire health care system. Doctor’s reimbursement rates do need to be fixed. But such a fix should be part of comprehensive reform of our health care system. Instead, Reid and the White House are trying to pull a fast one on the American people, claiming “the Medicare doctors’ payment discrepancy is a budgetary problem” while “health insurance reform tackles a serious regulatory problem.” The Obama administration is trying to add $247 billion in deficit health care spending one week, and then turn around and claim their health care plan is deficit neutral the next (emphasis mine). See: http://blog.heritage.org/2009/10/20/morning-bell-the-senate-begins-voting-on-obamacare-this-week/ 3a) Health Care Reform Following Senate Finance Committee Passage, 42% Support Health Care Reform Now that the Senate Finance Committee has passed its version of health care reform, 42% of voters nationwide favor the health care reform plan proposed by President Obama and congressional Democrats. That’s down two points from a week ago and down four from the week before.  The latest Rasmussen Reports national telephone survey finds that 54% are opposed to the plan. See: http://www.rasmussenreports.com/public_content/politics/current_events/healthcare/september_2009/health_care_reform 3b) Palin: Baucus Bill Creates 'Perfect Storm' for Raising Health Care Costs: In a 1,000-word essay posted to her Facebook fan site late Saturday, Palin claims the Senate Finance Committee bill does not set up proper cost offsets.  Former Alaska Gov. Sarah Palin has once more used her page on a social networking Web site to criticize the sweeping health care overhaul bill approved by the Senate Finance Committee -- claiming the legislation creates a "perfect storm" for increasing health care costs. In a 1,000-word essay posted to her Facebook fan site late Saturday, Palin said the bill put forth by Senate Finance Committee Chairman Max Baucus "attempts to offset the costs this will impose on insurance companies by requiring everyone to purchase coverage, which in theory would expand the pool of paying policy holders." "However, the maximum fine for those who refuse to purchase health insurance is $750. Even factoring in government subsidies, the cost of purchasing a plan is much more than $750," she continued. Palin asserted that young people will choose not to buy coverage, as a result, and will opt to pay the fine instead. "They'll wait until they're sick to buy health insurance, confident in the knowledge that insurance companies can't deny them coverage," wrote Palin. "Such a scenario is a perfect storm for increasing the cost of health care and creating an unsustainable mandate program." See: http://www.foxnews.com/politics/2009/10/19/palin-baucus-creates-perfect-storm-raising-health-care-costs/ 4) Glenn Beck: Manufacturing Czar says 'the free market is nonsense' Manufacturing ‘Czar’ Ron BLOOM, at a 2008 speech: “Generally speaking we get the joke. We know that the free market is nonsense. We know that the whole point is to game the system, to beat the market, or at least find someone who will pay you a lot of money because they're convinced that there is a free lunch. We know this is largely about power, that it's an adults only, no limit game. We kind of agree with Mao that political power comes largely from the barrel of a gun. And we get it that if you want a friend, you should get a dog.” See: http://www.glennbeck.com/content/articles/article/198/32133/ And: http://www.760kfmb.com/Global/story.asp?S=11346085 5) Holder Edict: The US Constitution Compels the Election of Democrats RUSH: Now, this next story is equally as infuriating as the AP story. It sounds complicated but it's really not. Let me see if I can once again (as I always do) make the complex understandable here. Here's the headline from the Washington Times: "Justice Department Concludes that Black Voters Need the Democrat Party." The story is from North Carolina, a little town called Kinston. "Voters in this small city decided overwhelmingly last year..." By the way Kinston is two-thirds black. Keep that in mind as I run through the details here. "Voters in this small city decided overwhelmingly last year to do away with the party affiliation of candidates in local elections," It's two-thirds black, one-third white, they voted 65% to do away with party affiliation to local elections. In other words, they have no Democrats or Republican identification on the ballot.  Just the candidates' names. That's not good enough for the Obama administration. The Obama administration and the attorney general, Eric Holder, have "recently overruled the electorate" in Kinston, North Carolina, "and decided that equal rights for black voters cannot be achieved without the Democratic Party." They are worried that whites will not vote for blacks unless it is said that they are Democrats in this county. This is what this all can get boiled down to. "The Justice Department's ruling, which affects races for City Council and mayor, went so far as to say partisan elections are needed so that black voters can elect their 'candidates of choice' -- identified by the department as those who are Democrats..."   See: http://www.rushlimbaugh.com/home/daily/site_102009/content/01125107.guest.html 6) Look who's married to Obama's media 'controller' Official attacking network, anti-'birther' lawyer a couple Attacking Fox News and defending President Barack Obama is a family affair for Anita Dunn, the White House communications director who has blasted Fox as an arm of the Republican Party and talked about "controlling" the news media.  She's married to Robert Bauer, the chief of the political law group at Perkins Coie, the Seattle law firm hired by the White House to defend President Obama in court cases challenging his "natural born" citizenship status in the United States and thus, his eligibility under the U.S. Constitution to be president.  Dunn is targeting Fox News with criticisms emanating from the administration that it isn't even a news network, while Bauer has done his best to prevent the American public from seeing a wide range of President Obama's records that could prove, or disprove, his eligibility to occupy the Oval Office under the Constitution's requirement that the president be a "natural born" citizen. See: http://www.wnd.com/index.php?fa=PAGE.view&pageId=113562