Senate follows House, approves budget (Congress, health care, Canada, Barack Obama)

[JackTheRipper]

WASHINGTON - The Democratic-controlled Senate passed a budget drafted to President Barack Obama's specifications, voting a few hours after the House approved a similar plan.

The Senate vote was 55-43, along party lines.

The plan calls for spending of $3.5 trillion for the budget year beginning Oct. 1 and has a deficit projected at $1.2 trillion.

It provides for higher spending on domestic programs and clears the way for action later in the year on Obama's call for an overhaul of health care, a new energy policy and changes in federal support for education.

Senate follows House, approves budget - Capitol Hill- msnbc.com

[Dukester]

Finally we have a congress thanks largely for the Democratic Caucus we are getting it done. Next Health Care Reform, Green Energy Alternatives, and Education. Going to be a busy year but looking forward to the accomplishments.

[oz in SC]

It will be interesting thats for sure....I wonder where the money is coming from???

All you leftists better get working....

[ViewFromThePeak]

China's gonna grind this "progress" to a screeching halt, then the government will need a bailout

[oz in SC]

I will laugh out loud if China says thanks but no thanks,we don't want any more of your debt.

No other nation will be buying,the various Gulf states have serious problems of their own.

I wonder what the Party faithful would do then???

[Dukester]

Originally Posted by ViewFromThePeak

China's gonna grind this "progress" to a screeching halt, then the government will need a bailout

Don't think it's going to happen. You see, it's a two way street. China needs us as much as we need them. So put away your gloom/doom face mask and save it for another day...

[oz in SC]

Actually all that has to happen is for it or other nations to no longer use the US dollar as the currency of choice for trade.

I think a LOT of people have no idea how fragile the USA is.

[Ever Adrift]

Originally Posted by Dukester

Don't think it's going to happen. You see, it's a two way street. China needs us as much as we need them. So put away your gloom/doom face mask and save it for another day...

The US and China are two sides of a janus-faced coin. The international economy has become so deeply globalized, creating so many interdependencies, that the failure of any one of the world's major economies (the US, China, Germany, Japan, Brazil, France, UK, Italy, Spain and Canada) would cause economic destruction of tremendous magnitude for everyone. We need China just as much as they need us; despite all the rhetoric from both sides about human rights, Taiwan, Tibet, imperialism, ect., it is in neither our nor China's interest to undermine the other's economy. Without this fact in mind, the amount of cooperation between the US and China as of late may seem surprising.

[oz in SC]

Just keep repeating that China needs the USA as much as we need them...because if it was found to not be true the USA would be finished.

[oz in SC]

China has an expanding internal market....why should China take the risk of buying our debt....what is the benefit to them?