When it comes to taking a chainsaw to the future of America, nobody seems more eager than Barack Obama. Despite the fact that the U.S. national debt is on pace to approximately double during his eight years in the White House, he has just proposed a budget that would take government spending to crazy new heights. When Barack Obama took the oath of office, the U.S. national debt was 10.6 trillion dollars. Today, it has surpassed the 18 trillion dollar mark. And even though we are being told that “deficits are going down”, the truth is that the U.S. national debt increased by more than a trillion dollars in fiscal 2014. But that isn’t good enough for Obama. He says that we need to come out of this period of “mindless austerity” and steal money from our children and our grandchildren even faster. In addition, Obama wants to raise taxes again. His budget calls for 2 trillion dollars in tax increases over the next decade. He always touts these tax increases as “tax hikes on the rich”, but somehow they almost always seem to end up hitting the middle class too. But whether or not Congress ever adopts Obama’s new budget is not really the issue. The reality of the matter is that the “tax and spend Democrats” and the “tax and spend Republicans” are both responsible for getting us into this mess. Future generations of Americans are already facing the largest mountain of debt in the history of the planet, and both parties want to make this mountain of debt even higher. The only disagreement is about how fast it should happen. It is a national disgrace, but most Americans have come to accept this as “normal”. If our children and our grandchildren get the opportunity, they will curse us for what we have done to them.
All debt destroys.
All debt enslaves.
And when you are talking about an 18 trillion dollar debt, you are talking about an amount of money that is almost unimaginable.
If our national debt was reduced to a stack of one dollar bills, it would circle our planet at the equator 45 times.
How could we have done such a thing?
Thomas Jefferson once said that “the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” He correctly understood that government debt is stealing. We are financially raping our children, our grandchildren and all future generations of Americans. It is an incredibly wicked thing to do.
But instead of men like Thomas Jefferson running our country, we have men like Barack Obama running it.
“I want to work with Congress to replace mindless austerity with smart investments that strengthen America,” Obama said in a speech at the Department of Homeland Security. “I’m not going to accept a budget that locks in sequestration going forward. It would be bad for our security, and bad for our growth.”
Yes, if we steal money from future generations it will artificially inflate our current standard of living and make our economy look temporarily better than it should be.
But it is morally wrong to do this, and our current crop of politicians have no intentions of ever bringing the debt party to an end.
Even with the ridiculously optimistic economic assumptions that are used in Obama’s new budget, the federal budget is never projected to balance within the next decade. Instead, Obama’s budget projects that the national debt will rise from 18.1 trillion dollars right now to 26.2 trillion dollars in 2025.
Of course it would greatly help if the federal government actually spent our money wisely. But instead, the feds often waste our hard-earned tax dollars in some of the most bizarre ways imaginable. The following is just one example…
The U.S. federal government has prompted controversy after spending over $33,000 on a study to find out whether same-sex couples live closer to tobacco shops than heterosexuals.
The large sum was spent on a study by the National Institutes of Health entitled, ‘Relationship Between Tobacco Retailer Density and Sexual Minority Couples.’
Thanks to this kind of insane spending, our debt is completely and totally out of control.
While Barack Obama has been in the White House, the U.S. national debt has increased by $84,266 per full-time private sector worker. Anyone that believes that this kind of debt accumulation is sustainable is absolutely delusional.
The only reason why our house of cards has not completely collapsed already is because the rest of the world has been willing to lend us gigantic piles of money at artificially low interest rates.
In December, the average rate of interest on the government’s marketable debt was 2.013 percent. But in the past, interest rates have been much higher than that. For example, in January 2000 the average rate of interest on the government’s marketable debt was 6.620 percent. If we returned to that level today, we would be paying well over a trillion dollars a year just in interest on the national debt.
And the issue isn’t just the more than one trillion dollars in new debt that we are accumulating every 12 months.
As I have discussed previously, the U.S. government has more than seven trillion dollars of debt that must be “rolled over” each year. In other words, the federal government must issue more than seven trillion dollars of new debt just to pay off old debts that are coming due.
If something were to happen which would cause the rest of the planet to either be unwilling or unable to lend us trillions of dollars at ridiculously low interest rates all of a sudden, the game would be over.
We were handed the keys to the greatest and most prosperous economy in the history of the planet, and our greed has totally wrecked it.
We were wealthy beyond imagination, but that was never good enough for us. We always had to have more.
And now we are hurtling toward financial oblivion, and we have a man in the White House that wants us to go into debt even faster.
Do you think that is an alarmist headline? Well, I am not the one saying this. Law enforcement authorities all over the country are telling citizens that they can no longer deal with all the crime and that people need to lock their doors and prepare to defend their families. Just recently, the city attorney of San Bernardino, California told citizens to “lock their doors and load their guns” because there is not enough money to pay for adequate police protection any longer. The murder rate in San Bernardino is up 50 percent this year, but the city is dealing with bankruptcy and has been forced to lay off 80 police officers. But San Bernardino is not the only city dealing with this kind of a thing. In Oakland, burglaries are up 43 percent so far this year, and to say that there is a “crime wave” going on in Oakland would be a massive understatement. If you can believe it, in Oakland “more than 11,000 homes, cars or businesses have been broken into so far this year – translating to about 33 burglaries a day.” Sadly, there simply are not enough police to keep up with it all. Due to budget cuts, it is being projected that by February the size of the police force in Oakland will be about 25 percent smaller than it was back in 2008. But what is happening in Detroit is perhaps even more frightening. Today there are about 1,000 fewer police officers in Detroit than there was a decade ago. But crime just continues to rise. So now even the police are telling people to “enter Detroit at your own risk“. With very little police protection, an increasing number of citizens are taking matters into their own hands. As I noted in a previous article, justifiable homicide in the city of Detroit increased by 79 percent in 2011, and the rate of self-defense killings in Detroit is approximately 2200 percent above the national average. But don’t laugh at what is happening in cities like San Bernardino, Oakland and Detroit. What is happening in those cities will be coming to your community soon enough.
From coast to coast, criminals are becoming increasingly bold and increasingly desperate. My sister lives near a large city in the middle part of the country, and a house across the street from the one her family just moved into was recently vandalized. The criminals took all of the exposed copper pipe and copper wire that could be accessed easily.
Other criminals have become very focused on gold because it has soared in value and it is easy to resell. For example, there have been more than 250 gold chain robberies in Stockton, California just since the month of April. According to the CBS News affiliate in Sacramento, criminals are just ripping these chains right off of the necks of unsuspecting citizens, and many of the victims that have tried to resist have ended up getting hurt. Normally the criminals sell off the jewelry within 24 hours, so solving these crimes is a real challenge…
Most victims of the robberies are female (65 percent), and 44 percent of victims are age 50 or older, the data showed. The most common time of day for the crimes were between 12 and 5 p.m., though this only accounts for about a third of the crime.
Parino said robbers took even police by surprise initially.
“When [criminals] do these crimes, they normally get rid of the items within 24 hours,” he said.
That’s why police are now checking up on secondhand stores and pawn shops on a weekly basis.
Personally, there are many major U.S. cities that I would not want to be living right in the middle of right now.
Just take a look at Chicago. It has become one of the deadliest major cities on the entire globe. In recent years we have seen massive cuts to the police budget coupled with a dramatic increase in gang activity in Chicago.
The murder rate in Chicago is way up this year and the police force is massively outnumbered.
As I have written about previously, there are only about 200 police officers assigned to Chicago’s Gang Enforcement Unit. It is their job to handle the estimated 100,000 gang members living in the city.
How would you like to be outnumbered 100,000 to 200?
When things really hit the fan, Chicago is going to be a complete and utter nightmare.
And sometimes we get a peek into how people will behave when things break down. Just look at what happened during the aftermath of Hurricane Sandy.
If you can believe it, some criminals actually took advantage of the Thanksgiving holiday to loot homes in the Breezy Point neighborhood of Queens. That was the neighborhood where approximately 100 homes burned down. The suffering of the residents of that neighborhood made headlines all over the nation. But that has not stopped criminals from moving in and taking advantage of their vulnerability…
Cops told the victims burglaries are on the rise in Breezy Point.
There were 14 home break-ins from Nov. 12 to Nov. 18, compared with none a year before.
And in the 28 days before that, there were 48 burglaries. Only four break-ins were reported in that time period the year before.
In the days after Sandy, some of the hardest-hit areas were plagued with store looting, home burglaries, street muggings and other crimes.
There are some very sick people out there. These days you simply do not know who you can trust. The person you meet on the street may be perfectly fine or they may be a total sicko. It is so hard to tell. But without a doubt there are a lot of sickos out there. Just check out what authorities in Pennsylvania found recently…
Animal welfare workers say 11 puppies were found dead and skinned near an eastern Pennsylvania park.
Sadly, authorities in that area had come across another similar incident recently…
The discovery is second disturbing incident in the county in less than a week. About 20 miles away in Lynn Township police say a dog was discovered skinned and cooked.
Who would do such things?
What in the world is happening to this country?
Things are changing, and this is just the tip of the iceberg. As conditions shift, we are all going to have to carefully evaluate what is necessary to protect our families. Don’t ignore all of the warning signs. Sticking our heads in the sand and pretending that everything is going to be okay is not going to help anything.
So what do all of you think about all of this? Please feel free to post a comment with your opinion below…
If you plan on visiting Detroit any time soon, the police have a message for you: “Enter Detroit at your own risk”. That ominous message was actually emblazoned across the top of a flyer that the Detroit Police Officer Association was passing out prior to a rally on Saturday. The flyer pointed out that Detroit is the most violent city in the nation and that more homicides are committed in Detroit than anywhere else. Meanwhile, the number of police officers in Detroit has been steadily decreasing. There are more murders in Detroit today than there were a decade ago, but the number of police officers in the city has decreased by about 1,000 over that time period. The remaining police officers are overworked and incredibly frustrated. But Detroit is far from alone. All over the nation there are major cities that are reporting a spike in crime even as police budgets are being slashed. Sadly, this is just the beginning. As the economy gets even worse, budget cuts will become even more severe and crime will become an even bigger problem.
In many areas of the country, police have become little more than report takers. If you report a crime that is not considered “high priority”, you will be lucky to get an officer to come out a few hours later to fill out a report.
In cities such as Detroit, criminals are becoming much bolder and are openly mocking the police. For example, according to a recent WND article, one gang has literally taken over a convenience store in Detroit and the police literally seem powerless to do anything about it….
Even the old-timers in Detroit never have seen anything like this: A mob of 40 black people moved into a convenience store and will not leave.
They say they now own it. They eat. Smoke. Cuss. Threaten. Spit. Rob. Sell drugs. All on video.
Police, ministers, neighbors, the store owner and just about everyone else seems powerless to stop them.
“It’s a Bad Crew gas station,” said one of the mob to the local Fox affiliate. “If you don’t know what that is, I can’t even tell you.”
The owner calls police, but nothing happens. The police “come here and then they leave. Two minutes later they (the mob) are back.”
Once upon a time it was one of the greatest cities in the entire world.
Now it has become a war zone.
As I wrote about a while back, justifiable homicide in the city of Detroit rose by 79 percent in 2011, and the rate of self-defense killings in Detroit is now about 2200 percent above the national average.
But like I said, Detroit is far from alone.
In some ways, what is happening in Chicago is even more frightening.
Many areas of Chicago have essentially been completely taken over by the gangs. Violent crime has dramatically increased in Chicago so far this year, and nobody seems to know what to do about it.
Driven by gangs, drugs and guns, the bloodshed in President Obama’s adopted hometown has resulted in a body count that exceeds the 312 murders this year in New York and 212 in Los Angeles, cities with populations dwarfing that of the Windy City. The toll here is up 25% from 2011: 391 through Sept. 23.
CBS News reporter Walter Jacobson recently sat down with some young gang members in Chicago and asked them some direct questions. Many of the answers that he got to those questions were quite frightening….
“There’s no solution to the violence,” one gang member tells him. “Killing, killing is the solution.”
When Jacobson asked them how they survive, the following was one of the responses that he received….
“Rob, steal and kill. That’s the only way. We didn’t grow up in Beverly Hills. We don’t get it handed to us”
And the number of gang members in Chicago grows with each passing day.
The violence in Chicago has gotten so bad that it is making headlines all over the globe. For example, the following is a brief excerpt from an article about the violence in Chicago that appeared in the Telegraph….
“This is a block-to-block war here, a different dynasty on every street,” said a dreadlocked young man heavily inked in gang tattoos who calls himself “Killer”.
“All the black brothers just want to get rich, but we got no jobs and no hope. We want the violence to stop but you ain’t safe if you ain’t got your pistol with you. Too many friends, too many men are being killed. We don’t even cry at funerals no -more. Nobody expects to live past 21 here.”
When young people lose all hope for a better future they become very desperate.
And very desperate people are capable of just about anything.
Nearly 47 million Americans are on food stamps at this point, and overall more than 100 million Americans are enrolled in at least one welfare program run by the federal government.
But what happens someday if the federal government is forced to cut back significantly on those programs or if food prices increase so much that people can’t buy nearly enough food to eat with their food stamps?
When people get really hungry they will do some crazy things.
But the mayor of Costa Mesa, California says that he has an answer to this problem. He has proposed reducing the homeless population of Costa Mesa by putting all soup kitchens in the city out of business….
The mayor of Costa Mesa proposed to get rid of soup kitchens to deal with the area’s homeless problem at a city council meeting on Tuesday.
“My belief is that if we manage to put the soup kitchen out of business that will go a long way to addressing the attractiveness in our city that’s creating a huge negative impact,” Eric Bever said.
Unfortunately, we are going to see a lot more of this kind of thing in the years ahead. The number of people that are really hurting is going to continue to increase, and the efforts to remove them from “respectable” areas is going to become more forceful.
Already we have seen feeding the homeless being banned in major cities all over the country.
But no rules, regulations or laws are going to be able to prevent what is coming in the years ahead. I believe that eventually we are going to see “flash mobs” of poor Americans storm into wealthy neighborhoods and take whatever they want.
Those doing the looting will justify it by saying that they are just taking from the rich and giving to the poor like “‘Robin Hood” did, but most other Americans will see it as more evidence that society is breaking down.
And without a doubt our society is starting to break down. What we are seeing in Detroit and Chicago right now is just the tip of the iceberg.
Why does the state of California seem to be so incredibly hopeless? These days California can’t seem to do anything right, and if you live in California things just got a whole lot worse. Governor Brown has announced that the state budget deficit for this year is going to be much larger than projected, that more government services are going to be cut and that voters are going to vote on another round of tax increases in November. Meanwhile, unemployment is sitting at 11 percent and extended federal unemployment benefits for workers in the state are ending. Because California is one of the worst places in the nation to conduct business, there has been a steady flow of companies leaving the state. Those companies have taken a whole lot of good jobs with them. Due to the lack of jobs and a steady stream of impoverished immigrants coming in from Mexico and other countries, poverty in the state has exploded and crime is rapidly increasing. California may be the land of “endless sunshine”, but for the California economy there are only dark clouds on the horizon. The state is coming apart at the seams and there is not much hope that things are going to turn around any time soon.
These days, California is very similar to Greece in many ways.
Just like Greece, California has had round after round of “austerity” and yet still cannot seem to balance the budget.
Even after all of the cuts that have been implemented in recent years, the California budget deficit is still going to be far larger than originally projected this year. The following is from the Los Angeles Times….
Gov. Jerry Brown announced on Saturday that the state’s deficit has ballooned to $16 billion, a huge increase over his $9.2-billion estimate in January.
The bigger deficit is a significant setback for California, which has struggled to turn the page on a devastating budget crisis. Brown, who announced the deficit on YouTube, is expected to outline his full budget proposal on Monday in Sacramento.
“This means we will have to go much further, and make cuts far greater, than I asked for at the beginning of the year,” Brown said in the video.
During his remarks on YouTube, Governor Brown stated that California is “still recovering from the worst recession since the 1930s” and he stressed that hard choices are ahead.
But the California state government has already cut back in so many places. For example, back in the late 1970s the state of California was number one in per-pupil spending on education, but now California has fallen to 48th place.
Unfortunately, Governor Brown does not believe that budget cuts alone will solve the problem.
So you know what that means.
The tax increases that California voters will be voting on in November were outlined in a recent Bloomberg article….
Brown this week submitted more than 1.5 million signatures to place the tax measure on the ballot. It would temporarily raise the state sales tax, already the highest in the U.S., to 7.5 percent from 7.25 percent. It would also boost rates on income starting at $250,000. The 10.3 percent levy on those making $1 million or more would rise to 13.3 percent, the most of any state.
Get ready to fire up the moving vans.
The rest of the California economy may be falling apart, but moving companies will continue to do very well.
As I have written about previously, California has already experienced a net loss of approximately four million residents to other states over the past 20 years.
If the top rate on those making a million dollars or more a year hits 13.3 percent you will see a lot more wealthy people leave.
And thousands of businesses have left California in recent years as well. Sadly, one survey found that CEOs ranked California as the worst place in the United States to do business for seven years in a row.
You would think that the state legislature would get the message.
Unfortunately they have not.
California absolutely suffocates businesses with rules and regulations and it gets worse with each passing year.
So lots of good jobs continue to leave the state.
As mentioned earlier, the official rate of unemployment in California is sitting at 11 percent. That is almost 3 points higher than for the nation as a whole.
Of course the “official” numbers greatly understate the true scope of the unemployment problem, but for more on that you can check out this article.
However you want to look at it, the reality is that California has a massive unemployment problem.
Sadly, a whole bunch of unemployed workers in California are about to lose their unemployment benefits.
On Saturday, more than 200,000 unemployed Americans were dumped off the unemployment rolls. Close to half of them live in California.
Instead of 99 weeks, unemployed workers in California will now only be able to collect unemployment benefits for a maximum of 79 weeks.
It is estimated that a total of 93,000 people in California have suddenly lost their benefits as a result of this change.
Unfortunately, the truth is that the employment picture in California is not really getting any better. It is still incredibly difficult to find a decent job.
Unless you are “connected”, it can be a horribly frustrating experience trying to find a new job in this economic environment.
But if you are truly desperate, there are some folks out there who are always hiring.
These days, “national security” is quite a growth industry. For example, if you are currently unemployed you can always apply to work as an Internment/Resettlement Specialist for the national guard.
While the economy is going to pot, you can get paid to lock up other Americans that are protesting about the state of our country.
Doesn’t that sound fun?
But seriously, if you live in California right now you probably don’t need anyone else to tell you how bad things are.
You probably already know that the number of children living in poverty in the state of California has increased by 30 percent since 2007.
California is rapidly changing, and not for the better.
But it is not just the economy that is falling apart in California. The truth is that there are a whole host of good reasons to move away from California. The traffic is nightmarish, crime is on the rise, the gangs are bigger and more active than ever before, millions of illegal immigrants have poured into the state, and the control freak politicians become more insane with each passing year.
Plus there is the constant threat that your home will be destroyed by a mudslide, a wildfire or an earthquake.
One of these days the “big one” will hit California.
What happens when debt-fueled false prosperity disappears? Just look at Spain. The 4th largest economy in the eurozone was riding high during the boom years, but now the Spanish economy is collapsing with no end in sight. When a debt bubble gets interrupted, the consequences can be rather chaotic. Just like we saw in Greece, austerity is causing the economy to slow down in Spain. But when the economy slows down, tax revenues fall and that makes it even more difficult to meet budget targets. So even more austerity measures are needed to keep debt under control and the cycle just keeps going. Unfortunately, even with all of the recently implemented austerity measures the Spanish government is still not even close to a balanced budget. Meanwhile, the housing market in Spain is crashing and unemployment is already above 24 percent. The Spanish banking system is a giant, unregulated mess that is on the verge of a massive implosion, and the Spanish stock market has been declining rapidly. The Spanish government is going to need a massive bailout and so will the entire Spanish banking system. But that is going to be a huge problem, because the Spanish economy is almost 5 times as large as the Greek economy. When the Spanish financial system collapses, the entire globe is going to feel the pain and there will be no easy solution.
So just how bad are things in Spain at this point?
The following are 22 signs that the collapsing Spanish economy is heading into a great depression….
#1 The unemployment rate in Spain has reached 24.4 percent – a new all-time record high. Back in April 2007, the unemployment rate in Spain was only 7.9 percent.
#2 The unemployment rate in Spain is now higher than the U.S. unemployment rate was during any point during the Great Depression of the 1930s.
#3 According to CNBC, some analysts are projecting that the unemployment rate in Spain is going to go above 30 percent.
#4 The unemployment rate for those under the age of 25 in Spain is now a whopping 52 percent.
#5 There are more than 47 million people living in Spain today. Only about 17 million of them have jobs.
Spain is going down the exact same road that Greece went down.
Greece is already suffering through a great depression and now Spain is joining them. The following is from a recent BBC article….
“In Spain today, a cycle similar to Greece is starting to develop,” said HSBC chief economist Stephen King.
“The recession is so deep that when you take one step forward on austerity, it takes you two steps back.”
In Spain right now there is a lot of fear and panic about the economy. In many areas, it seems like absolutely nobody is hiring right now. The following is from a recent USA Today article….
“The situation is very bad. There’s no work,” said Enrique Sebastian, a 48-year-old unemployed surgery room assistant as he left one of Madrid’s unemployment offices. “The only future I see is one with wages of €400 ($530) a month for eight-hour days. And that’s if you can find it.”
But Spain is just at the beginning of a downward spiral. Just wait until they have been through a few years of economic depression. Once that happens, millions of people begin to lose all hope. A recent Reuters article discussed the epidemic of suicides that is happening in Greece right now….
On Monday, a 38-year-old geology lecturer hanged himself from a lamp post in Athens and on the same day a 35-year-old priest jumped to his death off his balcony in northern Greece. On Wednesday, a 23-year-old student shot himself in the head.
In a country that has had one of the lowest suicide rates in the world, a surge in the number of suicides in the wake of an economic crisis has shocked and gripped the Mediterranean nation – and its media – before a May 6 election.
And you know what?
The nightmares that we are seeing unfold in Spain and Greece right now are just a preview of what is coming to most of the rest of the world.
The next wave of the economic crisis will soon envelop the United States, Japan and the rest of Europe.
When it strikes, the pain will be immense.
But it won’t be the end – it will only be just the beginning.
The global financial system is starting to crumble.
At times it really is breathtaking how corrupted the U.S. government has become. Government corruption has become so endemic in our society that most people have just kind of accepted it as “normal”. But shouldn’t we all get hopping mad when we learn that the Federal Reserve sent billions of dollars in bailout money to addresses in the Cayman Islands? Shouldn’t we all be furious when one of the leading candidates for the 2012 Republican presidential nomination, Mitt Romney, declares that he is “not going to spend my time focusing on the Federal Reserve”? Shouldn’t we all be alarmed when Nancy Pelosi gives a speech in which she says that “elections shouldn’t matter”? Shouldn’t we all demand that someone be held accountable when we find out that a CBO analysis shows that the “$38.5 billion” in spending cuts will only reduce the budget deficit for this year by $352 million dollars? On top of everything else, shouldn’t we all be absolutely horrified when the TSA gropes little 6 year old girls and virtually none of our politicians demand change?
$38.5 Billion In Budget Cuts Is Really Just $352 Million In Deficit Reduction?
Yesterday I wrote about how a close examination of the “budget cut deal” reveals that the 38.5 billion dollars in budget cuts are largely illusory.
However, even I was not ready for what the Congressional Budget Office had to say about this deal. What I read in the Washington Post today absolutely floored me. According to the Washington Post, the Congressional Budget Office is saying that the budget deal will only cut the budget deficit for this year by less than one percent of what was being claimed by Republican and Democrat leaders….
The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending.
What a joke.
The reality is that U.S. government is increasing by over 2 million dollars every single minute. So the entire “savings” from this “budget deal” will account for approximately 3 hours of government spending.
Look, the U.S. government ran a budget deficit of $188 billion dollars for the month of March alone. We are in debt up to our eyeballs and it is getting worse at a mind blowing pace.
When are people going to wake up and realize that neither political party is the least bit serious about dealing with our debt problem any time soon?
The Federal Reserve Sent Billions In Bailout Aid To Millionaires and Billionaires In The Cayman Islands
Most Americans don’t even understand what the Federal Reserve is, and yet they get to throw trillions of dollars around while being more or less completely unaccountable the entire time.
The Fed sent billions in bailout aid to banks in places like Mexico, Bahrain and Bavaria, billions more to a spate of Japanese car companies, more than $2 trillion in loans each to Citigroup and Morgan Stanley, and billions more to a string of lesser millionaires and billionaires with Cayman Islands addresses. “Our jaws are literally dropping as we’re reading this,” says Warren Gunnels, an aide to Sen. Bernie Sanders of Vermont. “Every one of these transactions is outrageous.”
How in the world does it benefit the American people to send billions of dollars to some ultra-wealthy people down in the Cayman Islands?
In light of what we have already found out, it is absolutely amazing that Congress is still refusing to authorize a complete audit of the Federal Reserve.
The corruption of the Fed is crying out to be investigated.
Unfortunately, many of our top politicians are openly declaring that they have no intention of going after the Federal Reserve.
Mitt Romney Declares That He Will Not Be Going After Ben Bernanke Or The Federal Reserve
In case anyone needs one more sign that Mitt Romney is just another shill for the establishment, just check out the two statements by Romney below.
According to Politico, Romney recently told CNBC’s Larry Kudlow that he is not concerned about the Federal Reserve at all….
“I think Ben Bernanke is a student of monetary policy; he’s doing as good a job as he thinks he can do,” Romney said when Kudlow asked what kind of job Bernanke is doing. “I’m not going to spend my time going after Ben Bernanke. I’m not going to spend my time focusing on the Federal Reserve.”
That’s just great. The Republican candidate with perhaps the greatest amount of “establishment support” says that he thinks that Bernanke is doing a good job and he does not plan to spend any time focusing on the Federal Reserve.
So if Romney gets in the Federal Reserve will continue to be able to dish out trillions to their friends without any interference.
Nancy Pelosi Declares That “Elections Shouldn’t Matter”
How are we supposed to respond when the top Democrat in the House of Representatives declares that “elections shouldn’t matter as much as they do”?
During a recent speech, Pelosi implored establishment Republicans to “take back your party” so that elections won’t “matter” as much….
To my Republican friends: take back your party. So that it doesn’t matter so much who wins the election, because we have shared values about the education of our children, the growth of our economy, how we defend our country, our security and civil liberties, how we respect our seniors. Because there are so many things at risk right now — perhaps in another question I’ll go into them, if you want. But the fact is that elections shouldn’t matter as much as they do… But when it comes to a place where there doesn’t seem to be shared values then that can be problematic for the country, as I think you can see right now.
Apparently what Pelosi wants is for America to go back to a time when all of us just went along with the false left/right paradigm and when we were all content to sleep while the establishment agenda rolled right along.
Well guess what Nancy? Some of us are starting to wake up.
6 Year Old Girl Molested By The TSA
How far have we fallen as a nation when a 6 year old girl has to have her private areas touched in public by the TSA before she is allowed to get on an airplane?
America is becoming a very strange place.
The following is video that was posted on YouTube of the recent incident involving a 6 year old girl….
So is this what we have become as a nation?
Will we subject ourselves to anything as long as the authorities insist that it will keep us a little bit safer?
Pretty soon America is going to be unrecognizable.
I have previously written about how in one town in Missouri, girls scouts have actually been banned from selling girl scout cookies in their own front yards.
How crazy is that?
In Cleveland, authorities haves announced plans to have “trash supervisors” go snooping through trash cans to ensure that people are actually recycling according to city guidelines.
The control freaks we keep voting into office seem to have an obsession with running ever detail of our lives.
In many areas of the nation we aren’t even allowed to do acts of kindness anymore.
Guess what? The Democrats and the Republicans are both lying to us again. So what else is new? The truth is that the great “budget crisis” which supposedly took us to the verge of a government shutdown was just a whole bunch of political theater. Even the Associated Press is declaring that our politicians used “accounting sleight of hand” to reach the $38.5 billion budget cut figure. Not that $38.5 billion was an impressive number to begin with. $38.5 billion would just be one percent of the federal budget. But once you strip away the accounting charades, the real budget cut number is somewhere around 14 billion dollars. It turns out that the “budget cuts” include money left unspent from previous years, earmarks that were going nowhere, unused census money and programs that Obama was already planning to cut. The more you examine the “budget deal”, the more it becomes obvious that the Republicans and the Democrats had no intention of doing anything serious about our debt problems. The U.S. government is still going to run a record-setting budget deficit in 2011 and both the Democrats and the Republicans are to blame.
So should we be surprised that our politicians have been lying to us again?
Of course not.
But if something is not done about our soaring debt it is absolutely going to crash our financial system.
According to the IMF, the U.S. government will have to borrow an amount of money equivalent to 29 percent of GDP this year alone in order to finance its budget deficit and its maturing debt.
That is what you call a crisis.
But neither political party seems the least bit serious about the national debt.
The Republicans are proposing even more tax cuts without saying how they are going to pay for them, and they even tucked an increase in military spending into the “budget cut” deal.
The Democrats don’t seem to want to cut much of anything. In fact, most Democrats seem to believe that government debt is not much of a crisis at all.
Our politicians love to talk about “cutting the budget”, but nothing ever gets done. Both parties have been promising us “fiscal responsibility” for decades but both parties have never delivered.
Sadly, the American people have not held our politicians responsible for this.
This latest episode just reveals how much of a joke Washington D.C. has become. In the 8 days leading up to the “historic” $38.5 billion budget deal, the U.S. national debt increased by $54.1 billion dollars.
Our politicians are standing by and doing nothing while the financial future of this nation is being destroyed right in front of our eyes. It is now being projected that by the year 2021, interest payments on the national debt will amount to $1.1 trillion dollars a year.
Fortunately, some bloggers out there are starting to wake up to just how pathetic this latest “budget deal” really was.
For instance, Tim Fernholz of the National Journal recently posted the following….
For example, the final cuts in the deal are advertised as $38.5 billion less than was appropriated in 2010, but after removing rescissions, cuts to reserve funds, and reductions in mandatory spending programs, discretionary spending will be reduced only by $14.7 billion.
In fact, some conservative bloggers are becoming absolutely furious with the duplicity of the Republican party. In a recent article on Business Insider, John Ellis really let John Boehner have it….
It turns out that the budget agreement that all parties were hailing this past weekend as a “great achievement” is in fact a joke. Any Republican who was elected with even a sliver of Tea Party support is now duty-bound to vote against it on Friday. Every 2012 Republican presidential hopeful is now duty-bound to demand that it be voted down.
But Boehner is already saying that it is time to “move on” and that he is really going to “get tough” during the next battle. Boehner is claiming that the “war” over the debt ceiling is going to be about “trillions” instead of “billions”.
The American people are certainly in the mood for something to be done about our debt crisis. According to a new NBC/WSJ poll, the vast majority of Republicans and the vast majority of independents do not want the debt ceiling raised. Even Democrats are roughly split on the issue.
So what pathetically low number will cause John Boehner to cave in this time?
Obama is already taking a strong stand on the debt ceiling. He is demanding that the Republicans send him a “clean bill” and is warning that they must not “play politics” with U.S. government finances.
On Monday, White House press secretary Jay Carney stated that “the consequences of not raising the debt ceiling would be Armageddon-like in terms of the economy.”
You know what? To a certain degree Carney is right. If the U.S. government hits the debt ceiling the financial markets will likely go haywire. That would cause the big boys up on Wall Street to start putting tremendous pressure on Boehner. There is no way that Boehner would watch chaos unfold on Wall Street and not end up flinching.
Not that Boehner was ever serious about cutting the federal deficit. He was not serious about it during the Bush years and he is not serious about it now.
This is all just a whole lot of political theater.
Meanwhile, most Americans are not even paying attention to all of the financial fraud being committed by the “fourth branch of government”.
Of course the Federal Reserve is not actually part of the federal government at all. But they do get to spend trillions and lend trillions without ever having to get the approval of Congress, the president or the American people.
For example, most Americans don’t realize this, but the Federal Reserve has been handing out hundreds of millions of dollars in nearly risk-free loans to their friends and even to the wives of their friends.
Unfortunately, the Federal Reserve is above the law and is not accountable to anyone. In fact, we can’t even get our politicians to authorize a comprehensive audit of their books.
The truth is that our system is soaked in so much fraud that there is no way that it will ever recover.
We have turned our backs on the principles of our founding fathers and so now we pay the price.
The U.S. national debt is now over 14 times larger than it was 30 years ago and it is currently rising by well over 4 billion dollars every single day. This debt will destroy our financial system. We are stealing the future from our children and our grandchildren.
It is so sad to see what is happening to America.
So what do all of you think about what is going on in Washington D.C.? Feel free to leave a comment with your opinion below….
Today budget cutters are on the rampage from coast to coast and often one of their first targets is public school teachers. What we have witnessed recently in Wisconsin is just one example of this. The truth is that you do not want to become a teacher if you want to have financial security in America today. Teacher salaries are being slashed from sea to shining sea. But to a certain extent the teachers that are having their wages cut are the fortunate ones. There are thousands upon thousands of teachers that have already been laid off, and there are tens of thousands more that are about to be laid off. It is absolutely brutal out there right now. So if you are thinking about becoming a teacher you might want to think twice. Not that there are a whole lot of other jobs that are more secure right now. The truth is that there is no such thing as a “safe job” in America today.
It is very unfortunate that what is going on right now is going to scare so many young people away from becoming a teacher because the next generation could definitely use some quality teachers.
But the truth is that it is getting really hard to honestly recommend that anyone become a teacher at this point. Just consider some of the following news stories that we have seen around the nation recently….
#5 The eyes of the whole country are on Wisconsin right now. Teachers there are very alarmed about the $900 million in cuts to school funding over the next two years that are being proposed.
#6 Clay Robison, a spokesman for the Texas State Teachers Association, recently said that his organization is projecting that 100,000 school employees in the state of Texas could lose their jobs.
#7 The current plan is for more than 4,500 New York City school teachers to be laid off after this current school years ends. This will be the most significant teacher layoffs in New York since the 1970s.
#10StudentsFirst.org is projecting that 161,000 teachers across the United States are in danger of losing their jobs this year alone.
So in light of the facts above, should we advise any of our young people to try to become a teacher?
The worst thing about all this for young teachers is that in many areas of the country there is a rule that says the last teachers hired are the first ones that get laid off.
That is another huge incentive for young people not to choose teaching as a profession.
So why are so many teacher layoffs happening?
Well, the truth is that most of our state and local governments are very deep in debt and have run out of money.
State and local government debt has reached at an all-time high of 22 percent of U.S. GDP, and hordes of state and local governments are teetering on the brink of insolvency at this point.
When there is no more money, the cuts have to come from somewhere. It is just really unfortunate that so many teachers are going to be put out onto the street.
People that have gone into the teaching profession have all spent a lot of time and money to get the education that they need to teach. If they are told that they can’t do that anymore, what are they supposed to do?
Most of the time when teachers are forced out of the profession they end up having to take jobs that pay much less. In this economy, many ex-teachers will not be able to find jobs at all. Today, one out of every seven Americans is on food stamps, and sadly many teachers may soon be joining them.
So why don’t we just raise taxes so that all of these teachers can keep their jobs? Well, the truth is that middle class Americans are already being taxed into oblivion. When you add up the dozens and dozens of different taxes that Americans pay each year the overall tax burden is absolutely frightening. There is only so much that you can squeeze out of the American people.
No, the truth is that the American people are taxed way too much already, and the big corporations and the ultra-wealthy have become experts at avoiding taxation. Our current tax system needs to be completely scrapped and replaced with something entirely new.
If our state and local governments had not been so addicted to debt, and if our economy had been managed correctly and if about a hundred other things had been done differently we would not be having these problems.
But here we are.
Unfortunately, there does not seem to be any easy answers.
Or are there some solutions that most of us have been overlooking? What do you all think? What should be done about all of the teacher layoffs that are taking place all over the country? Please feel free to leave a comment with your thoughts below….
Is Barack Obama trying to play a joke on all of us? The budget that the Obama administration has submitted for fiscal 2012 is so out of touch with reality that it may as well be a budget for “Narnia”, “Fantasy Island”, “Atlantis” or some other mythical land. You can view the hard numbers for Barack Obama’s 2012 budget right here. Obama’s budget assumes that the U.S. will experience economic growth of over 5 percent for most of the coming decade. That is so far-fetched that “optimistic” is not the right word for it. It also assumes that U.S. government income (primarily made up of taxes on all of us) will more than double over the next ten years. For 2011, the budget projects that the U.S. government will take in a total of 2.1 trillion dollars, and for 2021 the budget projects that the U.S. government will take in a total of 4.9 trillion dollars. For the Obama administration to assume that the federal government will be able to drain an extra 2.8 trillion dollars per year out of the American people by the year 2021 is ridicul0us beyond belief. In his new budget Barack Obama does propose some very, very modest spending cuts that he knows have no chance of getting through Congress. Barack Obama’s budget for 2012 also does not even attempt to make any cuts to entitlement programs such as Social Security and Medicare. In essence, you can sum up Barack Obama’s budget proposal for 2012 by saying that it is a complete and total joke. This budget is so delusional and so out of touch with reality that it is hard to imagine anyone taking it seriously.
Well, that is a nice sound bite, but as I have written about previously, unless Barack Obama suddenly finds a way to stop multinational corporations from paying slave labor wages to their workers on the other side of the globe the job losses in America are going to continue.
But that is a topic for another day. Getting back to the 2012 budget, Obama is proposing to cut more than a trillion dollars from federal budget deficits over the next ten years.
That sounds really good until you figure out that means that the cuts only amount to about $100 billion a year. Considering the fact that Obama’s budget is projecting that we will have a $1.6 trillion budget deficit this year alone, that really is not a whole heck of a lot to be cutting.
The truth is that Barack Obama should be proposing spending cuts that are at least ten times as large if he was actually serious about addressing our budget woes.
But at least Obama is not proposing an increase in spending.
Oh wait, he actually is.
In fact, under Obama’s budget, U.S. government spending will soar from 3.8 trillion dollars this year to 5.6 trillion dollars in 2021.
But the mainstream media is solely focusing on the budget cuts that Obama is proposing.
Apparently they are trying to cast him as some sort of “fiscal conservative”.
Try not to laugh.
But the modest cuts that Obama is proposing are at least some place to start.
Under Obama’s budget, approximately half of all government agencies will have their funding decreased from 2010 levels.
In fact, approximately 33 billion dollars would be saved by scaling back or shutting down 200 federal programs.
Of course Obama’s fellow Democrats in Congress will never go along with many of these cuts, but at least it is something.
However, this is where most in the mainstream media stop their analysis.
They don’t take a closer look at the numbers in Obama’s budget.
They don’t question the wacky economic growth assumptions.
They don’t question the bizarre government income projections.
But even with the Obama administration’s crooked numbers, the federal deficit still never drops below 600 billion dollars over the next decade and a total of 7.2 trillion dollars is still added to the national debt over the next decade.
If economic growth ends up being much lower, or if the U.S. government is not able to get twice as much money out of the American people by the end of the decade then the projections would look much, much different.
So where does the Obama administration assume all of that extra money for the government is going to come from?
Oh, from raising taxes of course.
The Obama budget assumes that there will be significant tax increases starting in the year 2013.
The plan unveiled Monday includes tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations. The plan would allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 and married couples making more than $250,000.
Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions and state and local taxes.
There are many liberals (such as my friend Gary) that would love to see these tax increases go into effect, but Obama knows that there is no chance that they will ever see the light of day unless the Democrats retake the House of Representatives.
But most of Obama’s budget for 2012 is based on things that simply never even have a chance of happening.
The reality is that Obama’s budget for 2012 is a great work of fiction.
Meanwhile, the U.S. government continues to accumulate staggering amounts of debt.
In fact, Obama’s budget admits that we will witness the biggest one year debt increase in history this year.
In 2011, the gross federal debt with surpass 15 trillion dollars. In fact, it is being projected by some analysts that this will be the year when the debt finally becomes larger than the size of the entire U.S. economy.
But Obama insists that he is taking this debt problem very seriously.
Obama insists that he is committed to making “deep” cuts.
In fact, as he announced this new budget Obama stated that these budget cuts hit “many programs whose mission I care deeply about, but meeting our fiscal targets while investing in our future demands no less.”
Do any of you actually believe him?
Not that the Obama administration is in an easy position. The truth is that the U.S. government (both Republicans and Democrats) have been horribly irresponsible with our money for decades.
The 14 trillion dollar national debt problem that we have now did not develop overnight.
Neither will it be solved overnight.
But Obama is not even trying to address the tough issues such as Social Security and Medicare.
The truth is that the federal debt problem cannot be solved without addressing our out of control entitlement programs.
So why didn’t Obama address them in his budget?
Well, the reality is that Obama is not stupid. Social Security and Medicare are political sacred cows. Obama is not going to do anything at this point that would cost him millions of votes in 2012.
So Barack Obama ignored most of the $4 trillion in budget cuts recommended by the White House-appointed deficit commission.
It kind of makes you wonder why Obama ever appointed a “deficit commission” in the first place.
One area that Obama does attempt to cut in his new budget is military spending. Obama’s budget for 2012 sets military spending at 5 percent below what the Pentagon requested for 2011.
In fact, Obama’s defense budget would slash military spending by $78 billion over the next five years.
His budget also assumes that we are not going to get involved in any more wars, which is not necessarily a safe assumption.
So will these military spending cuts actually get through Congress?
The Republicans control the House of Representatives, and they are not likely to take too kindly to large cuts to the defense budget.
In fact, the truth is that not too many of Barack Obama’s spending cuts are likely to survive in Congress.
As a recent article on CNN explained, Barack Obama’s budget plan must navigate a vast array of congressional committees in the coming months and by the time it emerges it is likely to be radically changed from its current form….
Before it gets back to Obama’s desk for a signature, the spending blueprint will go through no less than 40 congressional committees, 24 subcommittees, countless hearings and a number of floor votes in the House and Senate.