Buget deficit at $250 billion

With the new stimulus package the budget deficit could reach $350 billion, which is more than twice as high as last years deficit of $163 billion. The economy is entering a state of collapse, not just in the US, but across the world.

Home sales have dropped to the lowest level in 25 years. The dow is dropping like a rock, and now there is talk that the second largest bank in France, Society Generale is in trouble due to a rogue trader. This means problems in the eurozone could collapse the economy there.

In both India and China the stock markets are in financial freefall as the sputtering world economy anticipates a prolonged recession that could cause many banks to crash.