OBAMA GETS SET TO CAVE TO REPUBLICAN PRESSURE TO CUT SOCIAL SECURITY, MEDICARE, AND MEDICAIDE -- SUPPOSEDLY TO CUT THE BUDGET DEFICIT BUT IN REALITY TO TAKE THE VAULES OF THESE SERVICES AND GIVE THE MONEY TO WALL STREET, WHICH WILL POCKET THE MONEY WITHOUT CREATING A SINGLE JOB

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  theREALnews

Debt Ceiling Charade a Move to the Right

Michael Hudson: Panic about debt ceiling used to attack social programs; no real need for more borrowing

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Bio

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971). ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East. Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law.