From Volume 7, Issue 41 of EIR Online, Published Oct. 7, 2008

U.S. Economic/Financial News

British Empire Dictates Next Step: Fascist Austerity

Oct. 3 (EIRNS)—With the passage of the Bush Administrations bailout bill, British imperial mouthpieces are wasting no time demanding the next step Americans must take in national suicide: austerity.

Rupert Murdoch's The Australian ran the headline, "Bipartisan U.S. Senate Vote on Bailout Ushers in Austerity," over an article stating: "The next President of the United States voted to rescue Wall Street—and in the process clamped a $US700 billion millstone to his own Administration. Both Barack Obama and John McCain voted for the contentious bailout plan, which is destined to haunt the next U.S. Administration. Whoever wins the November election will inherit a $US11 trillion national debt ... which will ensure that austerity becomes the catchword for the next President. With fiscal conservative Democrats and Republicans uniting on Capitol Hill, ambitious spending programs and tax cuts will probably have to be shelved, leaving the next president little political capital with which to bargain."

On Oct. 8, London's "IOUSA" team will stage a press conference at the National Press Club, to promote the dismantling of Social Security, and other fascist economic measures. Lord William Rees-Mogg's American partner, Addison Wiggin, who produced the film "IOUSA" on behalf of Rees-Mogg's firm Agora, will speak alongside the film's propagandist, David Walker, the former Comptroller General now employed by financier oligarch Peter G. Peterson.

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