US should Admit Bankrupt or Default

During 2008 financial crisis Hank Paulson has warned congress this world is in great danger of entering into another depression so he wants $700b bailout package to banks.Now Timmy wants to raise the debt ceiling otherwise we will see catastrophic economic consequences.......now this guy is warning loss of jobs, future riots in the streets ...........does the govt wanted to take total control on the people itself...................

watch out this video.......




Are govts around world on steroids with

1.Bailouts
2.QE versions.
3.monetization of debt
4.race to devaluation of currency blah blah

look for the article about the debt ceiling and US default video......

WASHINGTON (AFP) – Treasury Secretary Timothy Geithner asked Congress to raise the US debt ceiling on Thursday, firing the starting gun on a fresh political battle over the country's massive debt.

In a letter to senior members of Congress Geithner warned a failure to raise the debt ceiling from $14.29 trillion could prompt a US default as soon as this March, with "catastrophic economic consequences."

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States." More