Troubling economic news most important news of week

In general, the most important political events of the past week have are linked to poor economic news. It just keeps coming, and coming, and coming. 


A news story posted earlier today at Fox News business says the U.S. posted a $125 million budget deficit in May, more than twice than was measured last year. 


The more ominous economic news report from today however is this one from Irish Times, which told of EU officials who have at least discussed contingency plans that include limiting ATM withdrawals, should Greece decide to leave the Euro. The general mood has been grim in Europe this past week, and many now see a complete breakup of the connecting currency as a very real possibility.


But the most troubling news report of the day is that International Monetary Fund Chairwomen, Christina Legarde, issued her "clearest backing yet," for green, or what some have termed, worldwide carbon taxes. 


I was fairly sure for a few months that Americans had cleared that hurdle and avoided notions of carbon taxes and one-world markets, but Legarde's comments today are striking. In this article posted at the Guardian, Lagarde forwards notion that makes Americans bristle, "The idea that different economic, environmental and social objectives can be seen as distinct aspects of a single vision, essential parts of a connected whole." 


I can't even begin to wrap my head around the fact that she chose today to make her remarks during a speech in Washington, in light of the downright putrid report by the Fox News website about border checks in Europe to make sure folks aren't moving money from one country to another, which followed a report yesterday about an Italian bank holiday.


It seems there is no end in sight with regard to negative economic news, especially for nations such as the U.S. who (are supposed to) value their sovereignty. 


That Legarde takes into account that Europe is broke, America is broke, Japan is broke, and China is already beginning it's own money printing escapades ahead of a real estate bubble of their own, and she still sees a need to ask for green taxes is repulsive.