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 Why isn't the U.S. economy in a depression right now? The number one reason is because the federal government has stolen more than five trillion dollars from future generations since Barack Obama was elected and has used that money to pump up our grossly inflated standard of living. Whether the federal government spends money wisely or foolishly, the truth is that the vast majority of it still ends up in the pockets of the American people who then use it to buy the things they need for their daily lives. If the U.S. government had not borrowed and spent an extra five trillion dollars that we did not have over the past several years, we would be in the middle of a rip-roaring economic depression right now. So any talk that Barack Obama is "improving the economy" is a total farce. It is a five trillion dollar lie. The reality is that Barack Obama and the U.S. Congress have been stealing trillions of dollars from future generations in order to make things tolerable in the present. If the federal government adopted a balanced budget next year, the debt-fueled prosperity that we are currently enjoying would start disappearing very rapidly and all hell would break loose in America. (Read More....)
 69 members of the U.S. House of Representatives have sent Barack Obama a letter expressing their concern that a new international treaty currently being negotiated would essentially ban all "Buy American" laws. This new treaty is known as the Trans-Pacific Partnership, and it is going to be one of the biggest "free trade" agreements in history. Critics are referring to it as the "NAFTA of the Pacific", and it would likely cost the U.S. economy even more jobs than NAFTA did. At the moment, the Trans-Pacific Partnership includes Brunei, Chile, New Zealand and Singapore. Barack Obama is pushing hard to get the United States into the TPP, and Australia, Peru, Malaysia, Vietnam, Canada, Japan and South Korea are also reportedly interested in joining. But quite a few members of Congress have heard that "Buy American" laws will essentially be banned under this agreement, and this has many of them very concerned. You can read the entire letter that was sent to Obama right here. Unfortunately, the leaders of both major political parties are overwhelmingly in favor of the Trans-Pacific Partnership, so the objections of these 69 members of Congress are likely to fall on deaf ears. The Trans-Pacific Partnership will accelerate the flow of American jobs out of this country, and meanwhile our politicians will continue to insist that they are doing everything that they can to "create jobs". (Read More....)
 Is there one thing that Tony Robbins, Ron Paul and Ben Bernanke can all agree on? Yes, there actually is. Recently they have all come forward with warnings that the national debt crisis could destroy America if something is not done. Unfortunately, our politicians continue to spend us into oblivion as if there will never be any consequences. When Barack Obama took office, the U.S. national debt was 10.6 trillion dollars. Today, it is 15.6 trillion dollars and it is rising at the rate of about 150 million dollars an hour. During the Obama administration so far, the U.S. government has accumulated more debt than it did from 1776 to 1995. The United States now has a debt to GDP ratio of over 100 percent, and another credit rating agency downgraded U.S. debt earlier this month. Any talk of a positive economic future is utter nonsense as long as we are bleeding red ink as a nation far faster than we ever have before. It is absolutely immoral to wreck the financial future of our children and our grandchildren and to leave them with a bill for the greatest mountain of debt in the history of the world, but that is exactly what we are doing. Unless our current debt-based financial system is thrown out, there are only two ways that this game is going to play out. One would involve absolutely bitter austerity and deflation unlike anything ever seen before, and the other would involve nightmarish hyperinflation. Either path would be hellish beyond what most Americans could possibly imagine. (Read More....)
 Barack Obama is a man without a plan. When you are young, they often tell you to "fake it until you make it", but Barack Obama is taking this to ridiculous extremes. Barack Obama has absolutely no idea what he is doing when it comes to the economy, and yet he continues to give speeches in which he declares that he is the man for the job. The State of the Union speech the other night was just abysmal. The federal government is spending way too much money, and yet Barack Obama is proposing even more government spending. Entrepreneurs and small businesses are being taxed into oblivion and yet Barack Obama is proposing even higher taxes. Our economy is being strangled to death by crippling regulations, and yet Barack Obama is proposing a vast array of new regulations. Barack Obama always gives a nice speech, but it has become appallingly evident that he is totally out of ideas. So our country will continue to drift aimlessly along without a direction and without a plan until the next financial tsunami comes along and makes things even worse. (Read More....)
 What in the world is Barack Obama thinking? The United States of America is falling apart all around him, and yet he decides to take a 17 day Hawaiian vacation. Does he even understand that he is the leader of the free world? Does he even understand that this country is mired in the worst economic downturn since the Great Depression? Last year, a similar Hawaiian vacation by the Obamas ending up costing more than 1 million dollars. Other than when I was in school, I don't remember ever taking a 17 day vacation. In fact, most Americans do not even get 17 vacation days for an entire year. Yet the Obamas seem to think that part of occupying the White House is to take as many vacations as possible. It has been reported that Michelle Obama spent over 10 million dollars of U.S. taxpayer money on vacations during just one recent 12 month period alone. It would be one thing if they were taking these vacations at a time when America was thriving, but the truth is that the U.S. is facing one crisis after another right now. Our debt is now over 15 trillion dollars. If you can believe it, the U.S. government has not been operating under an approved budget for over 900 days. More Americans fell into poverty last year than ever before. More Americans are on food stamps than ever before. An average of 23 manufacturing facilities were shut down every single day in the United States last year. According to one recent report, only 7 percent of Americans that lost their jobs during the recession have "made it back" to where they were before the recession. So perhaps Barack Obama should spend more time doing his job rather than taking extended vacations. (Read More....)
 As the deadline to raise the debt ceiling draws closer, many are now wondering if Barack Obama will try to go around Congress if a deal is not reached by August 2nd. In particular, a number of voices (including U.S. Treasury Secretary Timothy Geithner) are now touting the 14th Amendment as a way to get around the debt ceiling. There are others that believe that Barack Obama should invoke "national security" in order to avoid a default. If the Republicans and the Democrats do not reach a deal by the end of July, things are going to get really, really interesting and there is no telling what Barack Obama may do. (Read More....)
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The Man Without A Plan