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Economics and Investing:

G.G. flagged this: Obama’s Budget Puts 2012 Deficit at $1.33 Trillion [1].

Courtesy of Kevin S.: Straight Talk with Tyler Durden: The U.S. Is Free-Falling Into Bankruptcy [2]

Items from The Economatrix:

Bad Home Loans Top $72 Billion In “Colossal Failure” [3]

Mortgage Giants To Pay $25 Billion In Foreclosure Settlement [4]

S&P Threatens US With Another Downgrade [5]

Possible Next Debt Bomb:  Student Debt Pushing More People Towards Bankruptcy [6]