Economic News Round-Up: A slow, downward spiral for the dollar

Congress Approves $636.3 Billion for Defense in Fiscal 2010

DoD To Add $100B to 2011-15 Spending  

U.S. National Debt Tops Debt Limit

The latest calculation of the National Debt as posted by the Treasury Department has – at least numerically – exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.  The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.  A senior Treasury official told CBS News that the department has some “extraordinary accounting tools” it can use to give the government breathing room in the range of $150-billion when the Debt exceeds the Debt Ceiling.

Senate votes to raise federal debt limit by $290 billion

CHINA: ‘The world does not have Money to buy more US Treasuries’

ALBA Alliance Forgoes US Dollar

Gulf petro-powers to launch currency in latest threat to dollar hegemony

Calls rise for new global currency

‘Basket’ should replace U.S. dollar as reserve currency, IMF says

The imperative of greater global currency stability means the world can no longer rely, as it has done since the end of the gold standard, on a currency issued by a single country, the head of the IMF said on Tuesday.

2010: The Year of Severe Economic Contraction

Graphic: Here Is Why The Dollar Is Now Effectively Worthless

HR 3996, the Automatic Bailout Bill of 2009

Current And Former IMF Heads Call For New Global Currency

$4.8 trillion – Interest on U.S. debt

US public debt tops $12 trillion for first time ever

Belly up: 10 states face imminent bankruptcy

Ten states are facing imminent bankruptcy, confounding any possibility of economic recovery as tax revenues continue to decline and unemployment increases nationwide, Jerome Corsi’s Red Alert reports.  Those states in fiscal peril include California, Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey, Illinois and Wisconsin.

Going hungry in the USA

Almost 15 percent of US households are “food insecure”. Last year, nearly 17 million children, or 22.5 per cent, lived in households in which food at times was scarce – 4 million children more than the year before. And the number of youngsters who sometimes went hungry rose from nearly 700,000 to almost 1.1 million.

The Silent Hunger Crisis, One-Sixth of all of Humanity is Malnourished  

RELATED: Economic Analysis: Global Currency, Hyperinflation, Fiat Money and More

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