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President Obama To The 50 States: Drop Dead!

September 24, 2009 (LPAC)—Lyndon LaRouche today forcefully denounced President Obama's callous refusal to provide Federal assistance to the 50 states that are either bankrupt or near bankrupt. Sources close to the White House confirmed today that the Obama Administration has taken a "Social Darwinist" approach to the desperate plight of all 50 states, forcing them to impose murderous levels of austerity, rather than provide any assistance. At the same time, the U.S. Federal Reserve has printed a reported $1.47 trillion in cash, to purchase U.S. Treasury bonds, to keep the financial bubble from exploding at the end of the Federal government's fiscal year, Sept. 30.

"Without the Fed having turned on the printing press to buy up Treasuries, the banking system would have collapsed already," the source commented. "The Fed's actions have not addressed any of the underlying causes of the systemic collapse. All they have done is print money, to bail out the biggest, and most bankrupt banks." But, the source concluded, "What are they going to do now? They cannot just print another $1 trillion to continue buying Treasury paper. They are desperate to get past the October crisis, but they are running out of tricks."

Lyndon LaRouche denounced President Obama for his "hysterical response" to the crisis. "He cares about his feelings, but will do nothing to save the American people. Forty-eight of the 50 states are already totally bankrupt. The failure to assist the states means that people are going to die. When you cut the budgets for fire departments, police departments, sanitation departments, schools and hospitals, there are real-world consequences.

"The only solution," LaRouche emphasized, "is a return to Glass-Steagall. A Glass-Steagall-based reorganization of the entire bankrupt banking system is the only solution at this point. This is the only thing that can save the United States from a deep disintegration. We need a reorganization in bankruptcy, under Glass-Steagall standards. Anyone peddling any alternative, at this moment, is acting as a traitor against the United States—whether they know it or not. We need to restore Glass-Steagall, and Congress must act before the end of the fiscal year. We need action this week or next."

LaRouche also called for the Federal Reserve to be stripped of all responsibilities for oversight over this reorganization. "The authority must be put in the U.S. Treasury Department, as spelled out in the U.S. Constitution."

LaRouche declared, "Besides, the Federal Reserve and the International Monetary Fund (IMF) are the two most bankrupt institutions in the world!"


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