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Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts

Friday, May 20, 2016

The Way To Crush A Nation Is With Unrestrained Debt. One Of Obama's Accomplishments




Obama on track to double national debt

President Obama (White House photo)
NEW YORK – President Obama is on track to double the national debt by the end of his eight years in office.
Currently at $19.4 trillion, the debt is projected to hit $20 trillion by Inauguration Day 2016, up from $10.6 trillion when Obama entered the White House on Jan. 20, 2009.
Put in perspective, it means Obama will have added to the debt as much as all previous 43 presidents have done cumulatively.
Two graphs illustrate why many financial analysts are concerned. The first shows the steep climb in debt under Obama.
The second shows the sharp rise in total U.S. credit market debt, including household debt and credit card debt, that has occurred since the 1980s. The total U.S. credit market debt hit a high of approximately 385 percent of U.S. Gross Domestic Product in 2009-2010 during the recession brought on by the collapse of the U.S. subprime mortgage market at the end of President George W. Bush’s second term in office.
OBAMA DEBT chart 2 TOTAL US CREDIT MARKET DEBT AS % OF GDP May 17 2016
The graph shows the ratio of total U.S. credit market debt to the GDP has fallen off in recent years, down to a current level of about 355 percent of GDP.
The drop-off has occurred only because household debt has been declining since 2010 while government spending has continued to rise.
Among the many concerns is that the staggering increase in U.S. national debt evident over the past eight years has limited the ability of the federal Click to see the original article

Tuesday, November 26, 2013

A Republican Of A Different Cloth

Republican Establishment Should Take Note Of Minnesota GOP Congressional Candidate

November 26, 2013 by 
 9 1

 1 116
Republican Establishment Should Take Note Of Minnesota GOP Congressional Candidate
SPECIAL
It’s no secret that Americans are frustrated with the state of affairs in Washington, D.C., and with the career politicians who are responsible for Nation’s current condition. A growing number of Americans are also beginning to realize that changing Washington from the outside is going to be impossible as long as the political status quo is intact. The discontent is creating a new type of unlikely politicians, like Minnesota resident Stewart Mills, who could be the key to repairing the American political system.
Mills is the vice president of Mills Fleet Farms, a family business specializing in hunting and fishing gear — including many firearms high on gun grabbers’ list — who decided to run for Democratic Representative Rick Nolan’s Congressional seat in northern Minnesota to combat the incumbent’s gun control agenda. While Mills’ anti-gun control message is strong, he also hopes for a chance to push back against Obamacare, restore respect for the Constitution and protect American businesses, among other things.
The 41-year-old married father of five doesn’t look like the average politician. With shoulder-length hair and a casual style, Mills appears youthful and approachable and maintains a conservative political agenda that is very different from that of both the establishment Republican and Democratic parties.
In an interview with MinnPost, Mills said his decision to run for office was based on the “hunting camp doctrine”: Because he found himself complaining about the way government operates, he’s responsible for helping to find a solution to the problem.
Mills defines the four pillars of his campaign as follows:
The first pillar is … Obamacare.
The other was a Main Street tax policy that was from the ground up. The 8th District is a Main Street economy, and I don’t believe that Washington D.C. creates jobs. If we’re going to create and sustain the jobs that our part of Minnesota needs, it’s going to be coming from Main Street businesses, from the ground up, businesses that are taxed at the personal level. If we want a sustainable economy, we have to look toward our Main Street businesses because the 8th District is not a place of big corporations.
Respect for the Constitution is my third pillar. Certainly I’m a hunter, I’m somebody who uses firearms recreationally, I’m a shooter, I shoot competitively, that is my golf. I know how guns work. I know that one gun is not morally superior or inferior to the next, and I also have read the Constitution, I believe that we should uphold and abide by the Constitution.
Finally my fourth pillar is our national debt. $17 trillion is way too much. But the very fact that we keep kicking the can down the road and adding to our debt is endangering the future of our nation and our children’s future. We are passing on along to them a fiscal mess. Part of my hunting camp doctrine I’m running underneath is when you go to hunting camp or you go to a campsite in our part of Minnesota, there’s usually a sign that says leave it better than when you found it. I believe that we should do that.
The candidate, a former libertarian, told local media that the disastrous policies of the Barack Obama Administration combined with the ongoing partisan gridlock in Washington could create the perfect storm of support for a candidate who is a non-traditional Republican.
“This is the year, with what our country is facing, in which people are, Democrats in particular, are going to be taking a very hard look at somebody who may not be a traditional Republican,” he said. “I believe that I can reach the conservative Democrats and some of the people who have just always voted Democrat year after year, and I can win them over.
“My current campaign strategy isn’t getting a large turnout from Republicans and conservatives to overwhelm the Democrats, my current campaign strategy is to reach out to traditionally Democratic voters who care about things such as the future and sustainability of our country, who care about our Constitution, not limited to, but certainly inclusive of, the Second Amendment.”
Learn more about Mills here.

Sunday, November 10, 2013

The New Church Of The US Is Big Government According To Palin

Palin: Big Government Trying to Be America's 'Church'

Image: Palin: Big Government Trying to Be America's 'Church'
Sunday, 10 Nov 2013 09:43 AM
By Sandy Fitzgerald
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Big government is trying to become a "church" in its own right, former Alaska governor and 2008 Republican vice presidential nominee Sarah Palin said Saturday during a speech at a major Iowa tea party gathering.

Palin started her speech blasting the "war on Christmas," saying secular society is stripping meaning from the holiday by outlawing nativity scenes and other religious symbols.

But soon she flipped to an attack on the Obama administration, saying "the war on Christmas is just the tip of the spear in a larger battle."



Palin said "the crowning achievement of their church of big government is Obamacare."

She blasted Republicans who she says didn't do enough to defund Obamacare, saying they "waved the white flag of surrender."

"They promised that they would do everything in their power to fight against socialized medicine, against Obamacare, but when it came time to stand and defund it, they waved the white flag of surrender and they threw under the bus the good guys who did stand up and fight for us," Palin said.

Palin, whose plans for the 2016 election haven't been announced, also fired shots at the national debt, especially the $1.3 trillion the United States owes China.

"It’s going to be like slavery when that note is due,” Palin said, emphasizing that her comparison "isn't racist."

Palin also told the Christian conservative audience that it is time to "stiffen our spines" for the 2014 elections, reports Reuters. 

Palin was just one of several tea party favorites at the Iowa Faith and Freedom Coalition's Annual Family Banquet, reports CNN. 

Others at the event included Republicans Sen. Mike Lee of Utah and Rep. Steve King of Iowa and conservative activist Phyllis Schlafly.

Lee, who along with Texas Republican Sen. Ted Cruz was behind a push to defund Obamacare, also spoke at the Christian conference Saturday.

He compared the British government the original American colonists fought against to the current government, saying it is "slow to respond to the needs of the people," reports CNN.



But instead of being revolutionary, Lee said, today's conservatives should focus on moving forward, including replacing Obamacare with a better healthcare reform plan.

The Founding Fathers, Lee said, were "moving steadily, inexorably in the direction of the kind of government they did want."


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© 2013 Newsmax. All rights reserved.


Friday, October 11, 2013

Spending Out Of Control--Debt to Double By End Of Obama's Term. This Is Un-Sustainable And Will Lead To The End Of The US As We Know It. Where Does The Explosion Occur--32 Trillion or 67 Trillion Or 100 Trillion

Image: National Debt Set to Double Before Obama Leaves Office

National Debt Set to Double Before Obama Leaves Office

Thursday, 10 Oct 2013 03:49 PM
By Courtney Coren
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The national debt is set to double by the time President Barack Obama leaves office, if it continues to increase at the current rate.

In January 2009, when Obama began his first term, the federal debt was $10.6 trillion. As of this week it has increased 57 percent to $16.7 trillion, The Washington Times reported.

As Congress is faced with raising the debt ceiling by Oct. 17 or letting the government default on its bills, Obama has argued that doing so "won't add a dime" the federal debt.

"It does not increase our debt," Obama said. "It does not grow our deficits. All it does is allow the Treasury Department to pay for what Congress has already spent."

These claims by the president gloss over the growing total debt, according to Alex Brill, a budget specialist of the American Enterprise Institute.

"It's certainly not the whole story," Brill told the Times. "We've seen a dramatic increase in the debt held by the public in the last four or five years, and it's projected to only get worse."

According to FactCheck.org, the amount that the federal government owes the public is set to double as well. The government currently owes the Treasury $11.94 trillion, which is an 89.3 percent increase from the day Obama took office.

"The Obama administration has projected an annual deficit of $750 billion in the fiscal year that began Oct. 1, and $626 billion the year after," FactCheck wrote in its third quarter update. "At that rate, the debt owed to the public will more than double during the Obama presidency."

Several in the GOP say that increasing the debt ceiling should be coupled with spending cuts.

House Speaker John Boehner said Sunday that Republicans will not agree to raise the debt ceiling without addressing deficit spending.

"We're not going down that path," he told George Stephanopoulos while appearing on"This Week" on ABC. "It's about time to deal with America's problems. How can you raise the debt limit and do nothing about the underlying problem?"

 

Republican Sen. Tom Coburn of Oklahoma expressed a similar sentiment Tuesday.

"We are in trouble financially," Coburn said. "We are $30 trillion in the hole, plus another $17 trillion in debt. Wouldn't it be smart if we started addressing that problem before we blankly allow an increase in the level of the credit card?"

Related Stories:
Obama's 'Slippery' Claims on Obamacare, Budget
Cruz: Tie Debt-ceiling Rise to 'Obamacare' Changes
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Urgent: Should Obamacare Be Repealed? Vote Here Now!

Wednesday, February 1, 2012

Great Video On Obama Years

If you want to know what has happened between January 2009 and today, view this video. We had forgotten many of these statistics.  The situation is bad and getting worse by the day and Nero (Obama) is fiddling!


The link is: http://youtu.be/xMWVPpAE_6A 

Enjoy and tell us your comments.


Conservative Tom

Friday, November 25, 2011

Pruden & Politics

Wesley Pruden puts his view on the Super Committee failure.  Worth reading.
Pruden & Politics

Friday, November 25, 2011
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If only pigs really could fly
By Wesley Pruden
The congressional super-duper, new-and-improved deficit committee, organized to enable Congress to do what it was sent to Washington to do, failed.
Or, in the spirit of the holiday season, “faileth.” Handel should write an appropriate oratorio. The talk-talk has gone on long enough. It’s the fault of the Republicans, of course. We have the word of dozens of pundits, correspondents and other bearers of “news.” If only the troglodytes would raise taxes, the planets would come together in perfect alignment, all the smooth places would have been made plain and everyone would live happily ever after.
If only. If only there was no profound (insert word “partisan” here) and angry disagreement over how to find a detour from the road to financial oblivion. If only the Democrats would agree to cut the size of government. If only the Republicans would agree that big government is the answer. If only pigs could fly.
Sen. Pat Toomey offered to support new revenues of $500 billion. Exactly who’s being obstructionist? toomey
But they can’t, and neither can the partisan divide be bridged by a pontoon, however well meaning the pontoon men may be. Money is only part of what the debate is fundamentally about. Big government, designed to grow ever bigger with the turning of the seasons, is what the modern Democratic Party is all about. The Democrats are committed to building a bigger trough. The Republicans are committed to dismantling troughs. It’s all in the DNA.
President Obama is not to blame. He is a true believer in the European model of the welfare state. Everybody who was listening learned that three years ago. The fact that the European welfare states are crashing is irrelevant to him; true believers are never rattled by facts, not even facts that slap them in the face like a cream pie. The opportunity to impose a failing welfare state on America is what drew him to the presidency in the first place. The congressional elections last year, the Republican rout that Mr. Obama rightly called a “shellacking” of his party, made no impression, either. The results were all about cutting taxes and dismantling government, but not to Mr. Obama. Those elections were merely a few pebbles in the road to Utopia.
The president, with a con man’s confidence in the sound of his own voice, is, in the observation of the Wall Street Journal, “making it clear that he is running for re-election on a platform of consolidating the expansion of government of his first two years and raising taxes to finance it.” He makes everything clear to anyone listening, threatening to veto any cuts in government spending unless he gets $1 trillion in new taxes. This put a deal on the table that he knew the Republicans had to refuse.
The game continued, with Republicans offering “revenue increases”—in the spirit of the game, we don’t call taxes by their rightful name—far short of what Mr. Obama insisted he must have. When Sen. Pat Toomey of Pennsylvania offered to support new revenues of $500 billion, the Democrats said no. It was a trillion dollars or nothing doing. So who’s being obstructionist?
Everyone knows that unless someone does something, everything will be swallowed by one of those black holes from outer space. Health-care costs, which already consume 3.7 percent of the Gross Domestic Product, will take almost twice that by the year 2020. Democrats are determined not to reform any of that. Who will still be in Washington then? The distance to 2020 might as well be measured in light years. Next year is the short run, where Washington measures all. In the long run, as Winston Churchill famously said, there is no long run.
Mr. Obama, who understands that you can’t survive very long if you betray the people who put you at the public trough, knows very well that the Republicans, many of them beholden to Tea Party voters who sent them to Washington, couldn’t take his deal even if they wanted to, so soon after winning office on an iron-clad, cross-their-hearts-and-hope-to-die promise of no new taxes. And die they would.
You don’t have to have such a long memory to recall what happened to George Bush the Elder. He lit up the skies above the Republican National Convention in New Orleans with his famous invitation to “Read my lips: no new taxes.” A nice majority of Americans did read his lips, and soon he was no longer the president. Lip-reading is even more popular now.
Wesley Pruden is editor emeritus of The Washington Times.

Friday, July 15, 2011

Our Real Enemy Identified

This is an article that has been around since the 1980's however, with the debt limit crisis, it really is appropriate to resurrect. I believe it is well worth the read. 

The problems the country now face are major, however, they all can be traced to the desire of our elected "public servants" to be re-elected. They have done everything in their power to maintain their seats by returning dollars to their districts.  Now that the problems are significant, they refuse to face the music. Will they ever or are we destined to be another Greece?

If we don't fix the problems, will there be riots in the streets? Oh, I forgot about Wisconsin, that has already occurred.  So can we expect more disturbances and civil disobedience?  My guess would be yes, especially if major cuts in services, benefits and programs occur as a result of the debt limit and budget crises.

What do you think? We are interested in your opinion?

545 vs. 300,000,000 People”
                -By Charlie Reese
The Orlando Sentinel

Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?

Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?

You and I don't propose a federal budget. The President does.

You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.

You and I don't write the tax code, Congress does.

You and I don't set fiscal policy, Congress does.

You and I don't control monetary policy, the Federal Reserve Bank does.

One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.

I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.

I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.

Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.

What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.

The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House now? He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.

It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.

If the tax code is unfair, it's because they want it unfair.

If the budget is in the red, it's because they want it in the red.

If the Army & Marines are in Iraq and Afghanistan it's because they want them in Iraq and Afghanistan ...

If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.

There are no insoluble government problems.

Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like "the economy," "inflation," or "politics" that prevent them from doing what they take an oath to do.

Those 545 people, and they alone, are responsible.

They, and they alone, have the power.

They, and they alone, should be held accountable by the people who are their bosses.

Provided the voters have the gumption to manage their own employees...

We should vote all of them out of office and clean up their mess!

     

Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.

Monday, June 20, 2011

Debt Ceiling--Is The Sky Falling?

I am amazed, our country has not fallen into default since we did not approve an increased debt ceiling.  Isn't that Secretary Tim Geithner said would happen?  Or do we have to wait until August to have the calamity befall us?

Remember in 2008, when then Secretary Paulson said that if we did not approve the 787 billion going into the banks that we would surely have another depression. Many agree that was the right message, but just for a second, lets consider might have occurred?  Housing sales would have dried up, mortgage foreclosures would have increased, unemployment would increase and the banks would have collapsed.  Pretty scary, huh?

Well, in retrospect the only thing that did not happen was that the banks did not collapse and now we are getting the same scare tactics from the present Treasury Secretary.  I am getting a "scare me once shame on you, scare me twice, shame on me" feeling.  Why should I believe these Henny Penny warnings?  

I understand that the national debt payment is half of what tax revenues are collected.  We will not default on our payments on the debt (at present, however if the debt limit is increased, that will not be true in the future.) Other payments will not be so lucky. Of course, the first ones that this Administration will cut will be the pay for the members of the Armed Forces. Why? It will bring a cry from the public much the same as does cutting police and fire when a city needs to cut its spending. 

For some reason  government cuts always start with those services that they are supposed to provide. They never look at the unnecessary ones. It is easier to cut where it hurts, other ones might take some work. Give me the power of the pen and I am sure we can round up some really juicy programs that could be cut.  I have written about the training programs that have never been audited and that have questionable results.  Or the seven layers of government that effect one salmon.  Or the Energy Department whose original goal was to make us energy independent, that really has worked well!

If I were in Congress, I would not approve an increased debt ceiling until government is put on a major diet in areas  that do not effect defense, interstate commerce, foreign trade and other areas the states cannot handle. How about eliminating drinking training for the Chinese prostitutes that I wrote about last week?  I am sure there are many other programs that could be cut, reduced or combined with similar programs that could save billions if not trillions of dollars.

Our poll last week asked if the debt limit should be lifted and a vast majority of respondents said it would.  I would hope that it will be raised only after major spending cuts were taken. If not, we are putting off the inevitable collapse of our economy and the resulting riots not unlike those occurring in Greece right now. Do we want to be like them. I hope not but we do not have much time.