A new law that has been introduced in the U.S. House of Representatives “would prohibit the sale, transfer or possession of military-level body armor by civilians”. In other words, private citizens all over the entire nation would be permanently banned from owning body armor if this bill gets passed and signed into law. The bill that I am talking about is H.R. 5344 (The Responsible Body Armor Possession Act), and you can view the proposed legislation for yourself right here. The driving force behind this new law is Democrat Mike Honda from California. To Honda, it doesn’t matter that large numbers of very responsible Americans have purchased body armor to protect themselves and their families in a society that is rapidly decaying. Instead, it makes perfect sense to Honda to ban body armor because “access to military-grade body armor emboldens criminals and mass shooters to act.” And Honda wants to make possession of body armor a criminal offense with a penalty of up to 10 years in prison. This is absolutely crazy, and it is yet another example of the “police state mentality” that is so prevalent among our politicians these days.
When I first learned about this new law, I could hardly believe it. But it is actually true. The following is an excerpt from a news story about the introduction of this new bill…
Rep. Mike Honda, D-San Jose, has announced legislation that would block civilians from accessing military-grade body armor to prevent criminals from using them in gun battles with law enforcement.
Honda, speaking at a news conference in San Jose Wednesday morning with police chiefs and the district attorneys and sheriffs from Santa Clara and Alameda counties, said his proposal would discourage criminals from wearing enhanced body armor to commit mass shootings.
“This bill will keep military body armor out of the wrong hands,” Honda said. “It would ensure that only law enforcement, firefighters and other first responders would be able to access enhanced body armor.”
Fortunately, it is incredibly tough to get just about anything accomplished in Congress these days, so the odds of this bill ever becoming law are probably pretty low.
But without a doubt those that are attempting to systematically disarm the American people will just keep on trying.
And we need to be vigilant, because history has shown what happens when entire populations are disarmed. All we have to do is look back at the millions that were killed under Nazi Germany or the tens of millions that were killed under the communist Chinese.
Of course one of the greatest examples of this phenomenon was what happened under Joseph Stalin as Simon Black recently explained…
By the late 1920s, Joseph Stalin became the unchallenged leader of the Soviet Union after having eliminated his opposition.
He topped it off in 1929 by serving a decisive blow to anyone that would dare to oppose him by outlawing private gun ownership in the country.
From that year on until 1953 when Stalin died, it’s estimated that more than 20 million Soviet citizens that were seen as a threat to the country’s leadership.
Many Americans are tempted to believe that it is impossible for that kind of tyranny to happen in our day and age, but the truth of the matter is that America is becoming more like Nazi Germany with each passing day.
For example, the “Department of Homeland Security” recently raided dozens of families all over the nation because they “imported unsafe vehicles“…
Jennifer Brinkley of North Carolina says when saw a line of law enforcement vehicles coming up her driveway earlier this month she didn’t know what to think. “I haven’t done anything wrong.”
According to WBTV, the Homeland Security agents were not there to take her away, they were looking for illegally imported Land Rover Defenders.
It was a task government officials were performing in several states in early July. Forums on defendersource.com contain posts from Defender owners claiming their vehicles were seized by the government.
All vehicles coming into the United States must meet U.S. safety and emissions standards. Many British manufactured Land Rover Defenders do not.
Why in the world are armed Homeland Security agents roaming the countryside hunting down vehicles that don’t conform to federal regulations?
That is absolutely absurd.
But this is the kind of society that we now live in.
In a recent article, John W. Whitehead shared some more examples of how our control freak bureaucrats are ruining our society…
Debra Harrell, a 46-year-old South Carolina working mother, was arrested, charged with abandonment and had her child placed in state custody after allowing the 9-year-old to spend unsupervised time at a neighborhood playground while the mom worked a shift at McDonald’s. Mind you, the child asked to play outside, was given a cell phone in case she needed to reach someone, and the park—a stone’s throw from the mom’s place of work—was overrun with kids enjoying its swings, splash pad, and shade.
A Connecticut mother was charged with leaving her 11-year-old daughter in the car unsupervised while she ran inside a store—despite the fact that the child asked to stay in the car and was not overheated or in distress. A few states away, a New Jersey man was arrested and charged with endangering the welfare of his children after leaving them in a car parked in a police station parking lot, windows rolled down, while he ran inside to pay a ticket.
A Virginia teenager was charged with violating the state’s sexting law after exchanging sexually provocative videos with his girlfriend. Instead of insisting that the matter be dealt with as a matter of parental concern, police charged the boy with manufacturing and distributing child pornography and issued a search warrant to “medically induce an erection” in the 17-year-old boy in order to photograph his erect penis and compare it to the images sent in the sexting exchange. The police had already taken an initial photograph of the boy’s penis against his will, upon his arrest.
In Georgia, a toddler had his face severely burned when a flash bang grenade, launched by a SWAT team during the course of a no-knock warrant, landed in his portable crib, detonating on his pillow. Also in Georgia, a police officer shot and killed a 17-year-old boy who answered the door, reportedly with a Nintendo Wii controller in his hands. The cop claimed the teenager pointed a gun at her, thereby justifying the use of deadly force. Then there was the incident wherein a police officer, responding to a complaint that some children were “chopping off tree limbs” creating “tripping hazards,” pulled a gun on a group of 11-year-old boys who were playing in a wooded area, attempting to build a tree fort.
For many more examples like this, please see my previous article entitled “30 Signs That America Is Being Transformed Into A ‘Big Brother’ Police State“.
The United States was supposed to be a beacon of liberty and freedom for the entire globe.
Instead, we are going to end up looking just like North Korea eventually if we are not careful.
Our freedoms and liberties are being eroded a little bit more with each passing day. And if the American people don’t start standing up and objecting to all of this craziness, the control freaks are going to feel empowered to keep on pushing the envelope even further.
So what do you think about all of this? Please feel free to share your thoughts by posting a comment below…
The American people are increasingly waking up to the fact that nothing ever seems to change in Washington D.C. no matter which political party is in power. In fact, as you will see later on in this article, an all-time high 53 percent of all Americans believe that neither party “represents the American people”. Over the past several decades, we have sent a Bush, a Clinton, another Bush and an Obama to the White House, but the policies coming out of Washington have remained pretty much the same the entire time. The mainstream media would have us believe that the Republicans and the Democrats are constantly fighting like cats and dogs, but the truth is that the Republicans want to take us to the same place that the Democrats want to take us – just a little more slowly perhaps. And behind the scenes, Republicans and Democrats have a good time with one another and they are ultimately controlled by the same set of oligarchs. The Americans people are really starting to recognize what a sham our system has become, and the numbers show that they are quite fed up with it.
I truly wish that things were different. When I was much younger, I was actively involved in politics and I enthusiastically campaigned for certain candidates. But then when they got to Washington D.C., they never did most of the things that they promised to do during their campaigns.
I was quite bewildered by this. At the time, I concluded that we just needed to send even more “good politicians” to D.C. and then things would finally turn around.
But things never did turn around. No matter which party had the upper hand, the same garbage continued to spew forth from Washington.
Ultimately, like millions of other Americans, I have come to see that there is not really much of a difference between Barack Obama, Hillary Clinton, Harry Reid and Nancy Pelosi on one side, and John Boehner, John McCain, Mitch McConnell and Jeb Bush on the other side.
Sure, if you listen to their campaign speeches you might be tempted to think that they were polar opposites, but when you watch what they actually do there is not that much that really separates them.
Fortunately, large numbers of Americans are starting to see through this disgusting charade. Most of our politicians are con men that tell us what we want to hear during their campaigns, and then after they are elected they forget all about us. Dissatisfaction with these politicians has risen to unprecedented levels in recent years, and that could be a good thing. The following are 12 numbers which prove that Americans are sick and tired of politics as usual…
#1 A national Rasmussen Reports survey has found that an all-time high 53 percent of all Americans believe that neither major political party “represents the American people”.
#2 According to a Real Clear Politics average of national polls, only 29 percent of Americans believe that the country is heading in the right direction.
#3 According to a Real Clear Politics average of national polls, Americans disapprove of the job that Barack Obama is doing by a 52.2 to 43.7 percent margin.
#4 According to a Real Clear Politics average of national polls, Americans disapprove of the job that Congress is doing by a 77.6 percent to 14.2 percent margin.
#5 52 percent of Americans “do not think the economy is fair to those willing to work hard”.
#6 65 percent of Americans are dissatisfied “with the U.S. system of government and its effectiveness”. That is the highest level of dissatisfaction that Gallup has ever recorded.
#7 Only 4 percent of Americans believe that it would “change Congress for the worse” if every member was voted out during the next election.
#8 An all-time low 31 percent of Americans identify themselves as Democrats.
#9 An all-time low 25 percent of Americans identify themselves as Republicans.
#10 An all-time high 42 percent of Americans identify themselves as Independents.
#11 60 percent of Americans report feeling “angry or irritable”. Two years ago that number was at 50 percent.
#12 70 percent of Americans do not have confidence that the federal government will “make progress on the important problems and issues facing the country in 2014″.
Of course at the heart of much of this dissatisfaction is the continuing problems in our economy. For example, check out the Gallup daily employment tracking survey that you can find right here. As you can see, the payroll to population number (those Americans working 30 hours a week or more) has been flatlining in the low forties for more than four years now. The truth is that there never has been an employment recovery in this nation since the last recession. For much more on all this, please see my previous article entitled “This Is What Employment In America Really Looks Like…”
The last wave of the economic crisis really devastated the middle class, and as a result record numbers of Americans have become dependent on the government. As I mentioned in one recent article, ten years ago the number of women working outnumbered the number of women on food stamps by more than a 2 to 1 margin. But now the number of women on food stamps actually exceeds the number of women that have jobs.
No wonder so many Americans are so angry. Things are not nearly as good as they used to be.
Unfortunately, even though so many people are angry and frustrated, there is very little consensus on the solutions to our problems.
Many Americans even want to throw out the principles that this country was founded upon entirely. For example, one recent survey discovered that 59 percent of all Americans believe that the U.S. Constitution is “outdated”.
That is a very chilling number. We live at a time when Americans are becoming increasingly ignorant about who we are, where we came from and how we get here.
And a lot of our fellow citizens do not even know how our system of government works. One survey actually found that only 25 percent of all Americans knew how long U.S. Senators are elected for (6 years), and only 20 percent of all Americans knew how many U.S. senators there are (100).
In the final analysis, it is hard to be optimistic about a political solution to any of our major problems in the near future. Most of our politicians are deeply corrupt, the American people are incredibly angry and are deeply divided, and the vast majority of campaigns for federal office are won by the candidate that raises the most money.
But perhaps there is something that I am missing. So what do you think? Do you believe that there is hope that we can get Washington D.C. turned around in the near future? Please feel free to share your thoughts by posting a comment below…
The fiscal cliff is coming! Run for the hills! There have been endless stories in the mainstream media about the “fiscal cliff” that our country is facing if the Democrats and the Republicans can’t come to some sort of an agreement. If there is no agreement, taxes will go up and government spending will be reduced by a very small amount. And yes, that would likely push the U.S. economy into another recession, although there are many that would argue that we are already in a recession right now. In any event, there is a tremendous amount of distress out there about the fact that something might interrupt the debt-fueled prosperity that we have all been enjoying. You can almost hear them now: “No! Please don’t cut government spending! Please don’t raise taxes! Please keep stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day so that we can continue this economic illusion that feels so very good.” The American people want the government to give everything to everybody, but they definitely do not want to pay for it. They want a big government that showers them with government checks and government benefits, but they don’t want to cough up the ridiculous amount of money that it would take to fund such a government. So we just keep ripping off our kids and our grandkids. What we are doing to future generations is not just immoral, it is criminal. If they get the chance, someday they will look back and curse us for destroying their futures and destroying their country. So why do we continue to do this to them? Because we are greedy and selfish and we are absolutely desperate to maintain the massively overinflated standard of living that we have been enjoying. We have lived way above our means for so long that we don’t even know what “normal” is supposed to be anymore.
But nobody can spend far more money than they bring in forever. At some point an adjustment comes, and our adjustment is going to be exceedingly painful.
Right now, the overwhelming consensus in the United States seems to be that we should put off any economic pain for as long as possible. The American people don’t want significant cuts to government spending and they don’t want taxes to be raised to pay for the spending that we are already doing.
But if the Republicans and the Democrats don’t agree to a deal soon, we are going to see taxes raised substantially and government spending cut by a little bit. A recent CBS News article did a good job of describing exactly what this “fiscal cliff” that we are facing actually is…
There are two parts to the so-called fiscal cliff. The first is the scheduled expiration of the tax cuts enacted in 2001 and 2003 under President George W. Bush, the payroll tax holiday enacted under President Obama, and a host of other tax breaks. The second is $1.2 trillion in automatic spending cuts to defense and domestic programs that are looming due to a 2011 deal that resulted from House Republicans’ reluctance to raise the debt limit.
Now, it’s true that if lawmakers fail to work out any sort of deal, there will be severe long-term consequences for the economy: According to the Tax Policy Center, going off the “cliff” would affect 88 percent of U.S. taxpayers, with their taxes rising by an average of $3,500 a year. Many economists, as well as the nonpartisan Congressional Budget Office, say the combination of spending cuts and tax hikes that are set to take effect would tip the economy into a new recession.
Please keep in mind that the “$1.2 trillion in automatic spending cuts” is not for a single year. When you break it down, the cuts to spending would be somewhere around 100 billion dollars a year. And a lot of those “cuts” are actually spending increases that would be cancelled. So those spending cuts would not really put much of a dent in our yearly budget deficits at all.
The tax increases would be more significant. Middle class families would be paying thousands of dollars more per year in taxes. These tax increases would raise some more revenue for the federal government, but they would also do significant damage to the economy in the short-term.
Do you know what they call a combination of government spending cuts and tax increases over in Europe?
They call it “austerity”.
Nations like Greece and Spain have tried this. They cut spending and raised taxes in an attempt to reduce government budget deficits. What happens is that the spending cuts and the tax increases cause a significant economic slowdown and this causes tax revenues to come in much lower than projected. So then more spending cuts and tax hikes are necessary in order to try to get closer to balancing the budget. But then tax revenues fall even more.
In the end, both Greece and Spain still have large budget deficits and yet the economies of both nations are suffering through depression-like conditions. The unemployment rate in both nations is now over 25 percent. Just check out this chart right here to see how nightmarish austerity has been for the economies of both Greece and Spain.
So that is why everybody is freaking out about the fiscal cliff. They don’t want to go down the same road of austerity. They want to keep living in an economic fantasy land where we can borrow our way to “prosperity”.
But it is all a lie. The lines at the Apple stores, the crazed consumers on Black Friday, the restaurants teeming full with people and the government that thinks that it can take care of everyone from the cradle to the grave and yet keep taxes low. It is all a giant lie.
And no, please do not think that I am in favor of raising taxes. I most definitely am not. I believe that the government brings in more than enough money already.
Personally, I believe that we could have a system that completely eliminates income taxes and that funds the government through tariffs and various other forms of taxation. It was good enough for the Founding Fathers and it should be good enough for us. But that is a subject for another article.
Our current system has allowed us to live way beyond our means for an extended period of time, but it is only a matter of time until it all comes crashing down.
In fact, the game is already over. We have already destroyed the future. At this point it is only a matter of how long we can keep kicking the can down the road and putting off the pain.
Sadly, what we have done on a national level is simply a reflection of our “buy now, pay later” society. We have become a nation that is constantly willing to sacrifice the future in order to make the present more pleasant.
Just check out this video. We have become addicted to a prosperity that we cannot possibly pay for. But as long as someone will keep lending us the money we will continue to enjoy it.
As I have mentioned previously, the government has spent about 11 dollars for every 7 dollars of revenue that it has actually brought in while Barack Obama has been president.
We print, borrow and spend without giving any thought to what we are doing to the future of this country. We are shredding confidence in our currency and we are wrecking the greatest economic machine that the world has ever seen.
And all of our politicians and all of our “leaders” prance about as if they are the smartest generation of Americans ever, and they think that they are an “example” for the rest of the world, but if our Founding Fathers were around today they would be absolutely horrified about what they have done to the country that they built.
If you think that the economy is bad now, you just wait.
We are still in the “economic fantasy land” phase where we are enjoying a massively inflated standard of living constructed on a mountain of borrowed fiat currency. Our economy is being held up by trillions of borrowed dollars, and all of that money makes the U.S. economy appear to be far more prosperous than it actually should be.
When we have to start living closer to what our real standard of living should be things are going to get really bad.
Most Americans simply don’t understand that if the federal government went to a balanced budget tomorrow it would instantly plunge the U.S. economy into a depression.
Just look at Greece and Spain. The same thing is going to happen to us one way or another.
So enjoy this false prosperity while you still can. This is about as good as things are going to get, and from here on out it is downhill for America.
Will the most divisive campaign in modern American history culminate in massive riots in our major cities? Right now, supporters of Barack Obama and supporters of Mitt Romney are both pinning all of their hopes on a victory on November 6th. The race for the presidency is extremely tight, and obviously the side that loses is going to be extremely disappointed when the election results are finalized. But could this actually lead to violence? Could we actually see rioting in communities all over America? Well, the conditions are certainly ripe for it. A whole host of surveys over the past few years have shown that Americans are very angry and very frustrated right now. In fact, a Pew Research Center poll from late last year found that 86 percent of all Americans are either angry or frustrated with the federal government. We have seen this frustration manifest in protest movements such as the Tea Party and Occupy Wall Street, but right now things are fairly calm as liberals and conservatives both look forward to November 6th. Many Republicans started the countdown to the next election literally the day after John McCain lost back in 2008. All of their hopes of getting Obama out of the White House are riding on a Romney victory. For many Democrats, Barack Obama is a “once in a generation” icon. Just the thought of Mitt Romney replacing Obama in the White House is enough to push many of them to the brink of insanity. In recent years we have seen horrible rioting erupt in cities after major sports championship games. How much worse could the rioting potentially be if this bitterly contested election is decided by a very narrow margin – especially if there are allegations that the election is “stolen”?
The election is nearly four weeks away, and many Obama supporters are already threatening to riot if Obama loses. The following are some very disturbing messages that were posted on Twitter recently that have been reposted on Twitchy.com….
“If Romney wins I’m Starting a Riot….Who’s WIT ME???”
“I Hope The USA Is Well Aware That If In The Event This Character Romney Wins The Election, The People Will Start A Country Wide Riot! #Power”
“If Romney is elected president, its gon be a riot its gon be a riot.”
“If ROMNEY GETS IN THE WHITE HOUSE …U MIGHT AS WELL KILL ME NOW …..CAUSE ITS GONNA BE A ************ RIOT !!!”
“If Romney became President and took away welfare Downtown Cincinnati would become a riot”
“If Romney takes away food stamps 2 Chainzz in this bit IMMA START A RIOT”
“If Romney wins. (which i highly doubt) THERE WILL BE A RIOT—”
The following are a few more tweets that I found which threaten a potential riot if Obama loses the election….
“Need 2 come up wit a game plan if Romney win…. Riot all thru Newark”
“I swear on everything I love if Romney wins ima riot. I don’t even care if its just me.”
Romney supporters are not really threatening to riot, but many of them are proclaiming that they may leave the country if Obama wins. Here are some examples….
“If Obama gets reelected I may leave the country”
“im sorry but if obama were to win again, i might as well leave the country and live in zimbabwe”
This presidential campaign has been getting increasingly heated, and individuals on both sides have been committing some despicable acts.
For example, in a previous article I mentioned that some Romney campaign signs down in Virgina have been smeared with excrement.
Over in Ohio, a huge pile of manure was dumped right in front of Warren County Democratic headquarters early on Tuesday morning….
Volunteers at the Warren County Democratic headquarters, just north of Cincinnati, were shocked and disappointed by a political prank unloaded on them early Tuesday morning – someone dumped a pile of horse manure in the parking lot of the headquarters building on US 42, just north of Lebanon.
It appears that both sides have resorted to literally slinging crap around.
There is so much hate in America today, and this campaign is bringing a lot of it to the surface. It is even being reported that a bus driver told a 12-year-old boy that he should have been aborted because his family has a Romney campaign sign in their yard….
Belling read a letter from the 12-year-old boy’s mother, detailing the alleged abusive behavior by the bus driver.
Apparently, the Romney-Ryan yard sign bugs the bus driver and she’s been harassing the boy, making rude comments to him related to politics.
When the driver engaged the 12-year-old boy in a political conservation, he responded by saying that Obama is pro-abortion.
The bus driver allegedly said to the child, “Maybe your mom should have chosen abortion for you.”
How sick is that?
You can strongly disagree with someone without being mean and without being hateful.
Right now, the United States is a bubbling cauldron of frustration and anger that could be set off at any moment. This election could potentially be a “trigger point” which could end up unleashing a lot of that anger and frustration.
Already, there have been allegations that the Republicans have been committing voter registration fraud. Democrats are furious about this.
Evidence has also emerged that Democrats have been willing to assist voters in registering to vote in two different states. The following is from a recent article by Mac Slavo….
When undercover reporters visited various locations across the country they received the same response from Obama campaign staffers – that it’s basically okay to vote multiple times if you happen to be registered in two or more states.
In Houston, Texas, for example, the Project Veritas reporter made her intentions known, and rather than being rebuffed for her planned illegal activity, she was provided assistance with obtaining the proper forms to be registered in two states and was told to say “I don’t know” if the double-voting ever became an issue.
Similar situations unfolded at other DNC funded community organizations.
It appears quite probable that whichever side loses this election will accuse the other side of stealing the election.
And if millions of Americans feel that the election has been stolen from them, that will make it much more likely that we will see rioting.
Keep your ears open for phrases such as “voter fraud” and “election fraud” following this election. People are so angry already that even allegations that someone stole the election could be enough to set the streets of America on fire.
As always, let us hope for the best, but let us also prepare for the worst.
Are you better off today than you were four years ago? This is a question that comes up nearly every election. This year the Romney campaign has even created a Twitter hashtag for it: #AreYouBetterOff. The Democrats are making lots of speeches claiming that we are better off, and the Republicans are making lots of speeches claiming that we are not. So are most Americans actually better off than they were four years ago? Of course not. One recent poll found that only 20 percent of Americans believe that they are better off financially than they were four years ago. But the same thing was true four years ago as well. Our economy has been in decline and the middle class has been shrinking for a very long time. The Democrats want to put all of the blame on the Republicans for this, and the Republicans want to put all of the blame on the Democrats for this. A recent CNN headline defiantly declared the following: “Decline of middle class not Obama’s fault“, and this is the kind of thing we are going to hear day after day until the election in November. But obviously something has gone fundamentally wrong with our economy. So who should we blame?
Sadly, you hear very little on the mainstream news networks or the talk radio shows about the institution that has the most power over our economy. The Federal Reserve has far more power over our financial system than anyone else does, but the media and both political parties tell us that the Federal Reserve is “above politics” and that their “independence” must never be questioned.
Unfortunately, most Americans have gone along with that.
But the truth is that the debt-based financial system that the Federal Reserve is at the core of is absolutely central to our economic problems. If you do not understand this, please see this article: “10 Things That Every American Should Know About The Federal Reserve“.
The Federal Reserve has done more to mess up our economy than anyone else has.
So shouldn’t they be held accountable?
That is a very good question.
Have you ever wondered why financial markets move so dramatically whenever Federal Reserve Chairman Ben Bernanke gives a speech?
The same thing does not happen when Barack Obama gives a speech.
That is because the financial markets know who holds the real power in our financial system.
But during this election season the American people are told to put all of their attention on the “red team” and the “blue team”. We are told that the two major political parties are philosophical opposites and that they want to take the United States is two completely different directions.
The “true believers” on the blue team are completely and totally convinced that Barack Obama will be able to rescue the economy and save America.
The “true believers” on the red team are completely and totally convinced that Mitt Romney will be able to rescue the economy and save America.
Once upon a time I was one of those political activists. I was fully convinced that America could be turned around if we could just get enough Republicans into office.
But then I noticed that nothing really seemed to change no matter who was in power. I became disillusioned as I realized that Republicans were doing things pretty much the exact same way that Democrats were doing them when they got into power.
Yes, there are some minor differences between the two parties on taxes and regulations.
If we elect one guy over the other our economy might decline at a slightly different pace.
But in the end both political parties are taking us to the exact same place.
Down the toilet.
I wish that wasn’t true.
But we need to be honest with ourselves….
-Both parties fully support the Federal Reserve.
-Both parties supported the nomination of Ben Bernanke to a second term as the head of the Federal Reserve.
-Both parties endlessly push the job-killing “free trade” agenda of the global elite.
-Both parties see nothing wrong with running absolutely enormous trade deficits with the rest of the world.
-Both parties supported TARP.
-Both parties supported the “economic stimulus” packages.
-Both parties supported the auto industry bailouts.
-Both parties have run up massive amounts of federal debt when in power.
-Both parties have greatly expanded the size of the federal government when in power.
-Both parties are full of control freaks and both parties have added more layers of ridiculous regulations to our already overburdened society when in power.
-Neither party supports getting rid of the income tax or the IRS.
-Neither party has any intention of doing anything to prevent the coming derivatives crisis that could bring down the entire global financial system.
-Both parties are absolutely showered with cash from the big Wall Street banks.
-Both parties think that the TSA is doing a great job.
-Both parties supported the NDAA and the renewal of the Patriot Act.
-Both parties have greatly expanded the unconstitutional surveillance of American citizens by government agencies.
-Both parties are extremely soft on illegal immigration.
-Both parties have treated military veterans horribly.
-Both parties are absolutely packed with corrupt politicians that are living the high life at your expense.
-Neither party plans to balance the federal budget in 2013 if their candidate wins the election.
-Neither party has a plan that will fix our deeply broken health care system.
-Neither party has any plans to shut down the Federal Reserve. In fact, both parties see absolutely nothing wrong with our current system.
Of course this list could go on indefinitely, but hopefully you get the point.
But I can understand those that are deeply frustrated with Barack Obama and that desperately want to avoid another four years of his policies.
I also believe that Barack Obama has been the worst president in U.S. history and that he and his entire cabinet should immediately resign in disgrace.
However, the Republican party foolishly chose to nominate the Republican candidate that was most like Barack Obama to run against him.
That was an enormous mistake.
No matter what the talk radio shows are telling you, the truth is that this country will continue on pretty much the same path no matter who wins the election.
I know that statement is going to make a lot of people angry. But it is the sad reality of what we are facing.
Even if you focus on just the economy, the truth is that Mitt Romney’s “five point plan” is almost exactly the same thing that Barack Obama has been saying.
Many Americans believe that since Mitt Romney made lots of money on Wall Street conducting leveraged buyouts of vulnerable corporations that he understands how to fix our economy.
Sadly, that is not the truth.
I have listened to many Romney speeches about the economy and I keep waiting for some pearls of wisdom, but I have found that he is just as clueless about the economy as our other recent presidents have been.
Look, I know that there are a lot of people out there that have good hearts that want to have someone that they can believe in.
They want to believe that things can get better.
They want to have hope.
And I don’t blame them for that.
I just think that it is time to pull our heads out of the sand and realize that things are not going to be getting any better.
A political savior on a white horse is not going to come riding in to save the day.
So by this point in the article a whole lot of Democrats and a whole lot of Republicans are very upset with me.
But I am not against you. There is way too much hate in our society today. Even if we disagree with someone else we can still love them.
I just think that it is very important that we understand that there is not going to be a solution to our problems on the national level and that our economy is headed for collapse no matter who gets elected.
The total amount of debt in the United States has risen from less than 2 trillion dollars to nearly 55 trillion dollars over the past 40 years, and there is nothing that Barack Obama or Mitt Romney can do to prevent the “correction” that is coming.
So are Americans better off than they were four years ago?
Of course not.
But things will soon get a whole lot worse no matter how the election turns out.
The following are 40 statistics that will absolutely shock you….
#1 During the time Barack Obama has been in the White House, median household income has fallen by 7.3 percent.
#2 Back in 2007, 19.2 percent of all American families had a net worth of zero or less than zero. By 2010, that figure had soared to 32.5 percent.
#3 According to the Federal Reserve, the median net worth of American families dropped “from $126,400 in 2007 to $77,300 in 2010“.
#4 According to the Pew Research Center, 61 percent of all Americans were “middle income” back in 1971. Today, only 51 percent of all Americans are “middle income”.
#5 Back in 1970, middle income Americans brought home 62 percent of all income in the United States. In 2010, middle income Americans only brought home 45 percent of all income.
#6 The unemployment rate in the United States has been above 8 percent for 42 straight months.
#7 The percentage of working age Americans with a job has been below 59 percent for 35 months in a row.
#8 In June, the number of Americans added to the food stamp rolls was nearly three times larger than the number of jobs added to the U.S. economy.
#9 Approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed last year.
#10 Since Barack Obama entered the White House, the number of long-term unemployed Americans has risen from 2.7 million to 5.2 million.
#11 Today, the average duration of unemployment in the United States is about three times as long as it was back in the year 2000.
#12 According to a report that has just been released by the National Employment Law Project, 58 percent of the jobs that have been created since the end of the recession have been low paying jobs.
#13 According to the Center for Economic and Policy Research, only 24.6 percent of all of the jobs in the United States are “good jobs”.
#14 In 2010, the number of jobs created at new businesses in the United States was less than half of what it was back in the year 2000.
#15 The average pay for self-employed Americans fell by $3,721 between 2006 and 2010.
#16 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years. During 2010 it got even worse. That year, an average of 23 manufacturing facilities a day shut down in the United States.
#17 At this point, one out of every four American workers has a job that pays $10 an hour or less.
#18 While Barack Obama has been president the velocity of money has plunged to a post-World War II low.
#19 According to one recent survey, 85 percent of middle class Americans say that it is harder to maintain a middle class standard of living today compared with 10 years ago.
#20 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.
#21 There are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
#22 Over the past decade, health insurance premiums have risen three times faster than wages have in the United States.
#23 Health insurance costs have risen by 23 percent since Barack Obama became president.
#24 As I wrote about yesterday, back in 1980 less than 10 percent of U.S. GDP was spent on health care but now about 18 percent of U.S. GDP goes toward health care.
#25 In a previous article, I noted that 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.
#26 Family budgets in America are being stretched to the breaking point. Today, 77 percent of all Americans live paycheck to paycheck at least part of the time.
#27 While Barack Obama has been president, U.S. home values have fallen by another 11 percent.
#28 More than three times as many new homes were sold in the United States in 2005 as will be sold in 2012.
#29 The United States was once ranked #1 in the world in GDP per capita. Today we have slipped to #11.
#30 Since Barack Obama became president, the number of Americans living in poverty has risen by 6.4 million.
#31 The number of Americans on food stamps has grown from about 17 million in the year 2000 to 31.9 million when Barack Obama entered the White House to 46.7 million today.
#32 Approximately one-fourth of all U.S. children are enrolled in the food stamp program at this point.
#33 It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.
#34 It is estimated that child homelessness in the United States has risen by 33 percent since 2007.
#35 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, approximately one out of every 6 Americans is on Medicaid.
#36 As I wrote about the other day, it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#37 It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.
#38 The number of Americans receiving federal housing assistance increased by a whopping 42 percent between 2006 and 2010.
#39 At this point, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.
#40 Amazingly, more than half of all Americans are now at least partially financially dependent on the government.
So are you better off than you used to be or worse off?
Please feel free to post a comment with your thoughts below….
What is Barack Obama preparing for? What does Barack Obama actually expect to happen in November? Does he believe that the upcoming election could actually spark rampant civil unrest inside the United States? The conditions are certainly ripe for civil unrest in this country. A multitude of recent polls and surveys have shown that Americans are angrier and more frustrated than ever. Sadly, we are taking a lot of that anger and frustration out on each other. America is more divided today than at any other time since the Civil War era. The left absolutely hates Mitt Romney the Republicans, and the right absolutely hates Barack Obama and the Democrats. If you doubt this, just surf political blogs for a few hours and read the comments that people leave. This country is a boiling cauldron of hatred and anger and all it is going to take is just the right “spark” to cause all of this hatred and anger to absolutely explode. This upcoming election season is likely to be one of the most heated and divisive election seasons in U.S. history, and if there is not a clear winner on election night there is the potential that chaos could be unleashed that would be far, far worse than anything we saw during the Bush/Gore debacle of 2000.
Right now, the polls tell us that this is likely to be a very, very tight election. If you doubt this, just check out the daily Gallup tracking poll.
As I write this, Obama and Romney are tied at 46 percent.
In 2008, a wave of positive emotion helped Obama secure a solid victory on election night where there was no doubt about the outcome.
But this time there is not going to be the same wave of positive emotion behind Obama, and that means that the election is likely to be much, much closer.
One thing that set off alarm bells for me is when various news stories starting discussing the “legion of lawyers” that Barack Obama was recruiting for this election. The following is from a recent article in the Huffington Post….
President Barack Obama’s campaign has recruited a legion of lawyers to be on standby for this year’s election as legal disputes surrounding the voting process escalate. Thousands of attorneys and support staffers have agreed to aid in the effort, providing a mass of legal support that appears to be unrivaled by Republicans or precedent.
Did you catch that?
Obama’s “unprecedented” legion of lawyers is definitely getting prepared for something.
In a tightly contested race, would Obama use every legal angle that he possibly could to take the election away from Mitt Romney?
Would Mitt Romney potentially do the same to Obama?
How would the rest of America respond to another huge legal struggle over the presidency?
Let us hope that we never find out the answers to any of those questions.
But fighting in court is not the only avenue that Barack Obama could potentially use to keep his spot in the White House.
There is also the possibility that Barack Obama could use his executive powers to influence the outcome of the election.
This year, Obama has issued a whole series of very strange executive orders.
Many have been wondering what the true purpose of these executive orders really is.
For example, EO 13603 enables Barack Obama to take total control over all food, all energy, all health resources and all transportation resources with the stroke of a pen.
The following is from an article about this executive order by Jim Garrison in the Huffington Post….
President Obama’s National Defense Resources Preparedness Executive Order of March 16 does to the country as a whole what the 2012 National Defense Authorization Act did to the Constitution in particular — completely eviscerates any due process or judicial oversight for any action by the Government deemed in the interest of “national security.” Like the NDAA, the new Executive Order puts the government completely above the law, which, in a democracy, is never supposed to happen.
Later in that same article, he detailed some of the extraordinary powers that the executive branch would be given if Barack Obama decided that “national security” required it….
• The Secretary of Defense has power over all water resources;
• The Secretary of Commerce has power over all material services and facilities, including construction materials;
• The Secretary of Transportation has power over all forms of civilian transportation;
• The Secretary of Agriculture has power over food resources and facilities, livestock plant health resources, and the domestic distribution of farm equipment;
• The Secretary of Health and Human Services has power over all health resources;
• The Secretary of Energy has power over all forms of energy.
According to this executive order, a “national emergency” is not even required to activate these powers. If Barack Obama decides that there is a threat to “national security” (or to his job security) he could activate these powers at any time.
Another executive order, EO 13618, would potentially give Obama power over all communication resources in the United States.
So does that mean that Obama could potentially pull the plug on the Internet during a crisis?
That is a very good question.
Overall, Obama has issued 130 executive orders during his time as president. The amount of power that he now claims to possess is absolutely mind blowing.
So will he ever actually attempt to use the powers that he has granted himself under these executive orders?
Let’s hope not.
In addition, it appears that the Department of Homeland Security is gearing up for something.
An article posted on RT the other day entitled “DHS gears up for civil unrest prior to presidential elections” detailed some of the purchases that the Department of Homeland Security is looking to make….
The DHS submitted a rushed solicitation to the Federal Business Opportunities site on Wednesday, which is a portal for Federal government procurement requisitions over $25,000. The request gave the potential suppliers only one day to submit their proposals and a 15-day delivery requirement to Alexandria, Virginia.
As the brief explains, “the objective of this effort is to procure riot gear to prepare for the 2012 Democratic and Republican National Conventions, the 2013 Presidential Inauguration and other future similar activities.”
The total amount ordered is about 150 sets of riot helmets, thigh and groin protectors, hard-shell shin guards and other riot gear.
Specifically, DHS is looking to obtain:
– “147 riot helmets” with “adjustable tactical face shield with liquid seal”
– “147 sets of upper body and shoulder protection”
– “152 sets of thigh and groin protection”
– “147 hard-shell shin guards” with “substantial protection from flying debris, non-ballistic weapons, and blows to the leg” and “optimized protective design for severe riot control or tactical situations.”
– “156 forearm protectors”
– “147 pairs of tactical gloves”
The riot gear will be worn by Federal Protective Service agents who are tasked with protecting property, grounds and buildings owned by the federal government.
You can find the DHS solicitation right here.
Also, as I have written about previously, earlier this month FEMA posted a solicitation for a large number of pre-packaged meals. According to the solicitation, the maximum number of meals that would be provided to FEMA under the contract would be 17.5 million meals. The following is from the FEMA solicitation document….
As referred to in paragraph (b) of FAR Clause 52.216-22, “Indefinite Quantity” of this contract, the guaranteed contract minimum is 21,000 packaged meals to include the base and option periods. The contract ceiling amount shall not exceed 17,500,000 packaged meals.
So do those solicitations mean anything special or are they just part of normal government operations?
That is a good question.
But what we do know is that U.S. military personnel are going to be deployed at the Democratic and Republican national conventions in support of U.S. Secret Service personnel. The following is from a recent Stars and Stripes article….
“During the Democratic/Republican National Conventions, Department of Defense personnel will support the U.S. Secret Service,” a Northern Command spokesman said in an email.
“For operational security reasons we do not discuss the numbers of military personnel and resources that are involved,” U.S. Navy Lt. Cdr. William G. Lewis said. “Additionally, we do not share our operational plans.”
Could the same forces be deployed to quell civil unrest sparked by a controversial election result in November?
Let us hope that this upcoming election season is not as bitter and divisive as many are projecting and let us hope that there is a clear winner in November.
The conditions are definitely right for America to be absolutely torn apart if the “perfect controversy” comes rolling along.
At this moment, Americans are incredibly frustrated. Our economy has been in the dumps for quite a few years, and now it look like another recession is starting. The patience of the American people is running out.
Over much of the western United States things are so hot and dry right now that just a single spark is often enough to set off a forest fire that can burn for weeks. Well, the same thing can be said for the political climate in the United States right now.
The American people are so hot and so angry that it would not take much to set off a raging political fire.
Let us hope that cooler heads prevail, because a single spark could set this country ablaze.
On Wednesday, Ron Paul’s bill to audit the Federal Reserve was overwhelmingly passed by the U.S. House of Representatives. The vote was 327 to 98. You would think that a bill with such overwhelming support would easily become law. But it won’t, because Barack Obama and the Democrats plan to kill it. Senate Majority Leader Harry Reid has already said that the Senate will not even consider the bill. But of course if Barack Obama called Harry Reid and told him that he wants this bill to get through the Senate so that he could sign it then Harry Reid would be singing a much different tune. Sadly, we all know that is not going to happen. Barack Obama’s good buddy Ben Bernanke called the Audit the Fed bill a “nightmare scenario” last week, and Obama is certainly not going to do anything to upset Bernanke – especially this close to the election. Obama needs Bernanke to do everything that he possibly can to stimulate the economy so that Obama will look as good as possible in November. The sad truth is that there is absolutely no chance that the Audit the Fed bill will become law and that is a crying shame.
So why is an audit of the Federal Reserve so important?
Why does Federal Reserve Chairman Ben Bernanke consider an audit of the Federal Reserve to be a “nightmare scenario” that must be avoided at all costs?
Well, perhaps it is because there has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.
The Federal Reserve has more power over the economy than anyone else in the country does, and yet they are virtually unaccountable and the American people have very little idea what has been going on behind closed doors over at the Fed for the past 100 years.
A very limited audit of the Fed that was passed a couple of years ago that examined transactions during the last financial crisis discovered that the Federal Reserve had actually loaned out more than 16 trillion dollars in nearly interest-free money to the “too big to fail” banks between 2007 and 2010.
Keep in mind that U.S. GDP for the entire year of 2011 was only slightly more than 15 trillion dollars.
The Federal Reserve loaned out trillions upon trillions of dollars to their friends and never told the American people about it.
You would think that Congress would be quite eager to see what else has been going on over at the Federal Reserve.
But instead, many Democrats are completely and utterly opposed to auditing the Fed any further.
U.S. Representative Barney Frank (a Democrat) seemed to regard the bill as a joke even after it overwhelmingly passed in the House. Frank stated that “nobody here thinks this will ever become law“.
According to Politico, there is zero chance that the bill will get through the U.S. Senate….
Senate Majority Leader Harry Reid (D-Nev.) has said the Senate will not consider the bill, effectively killing its chances of becoming law.
But we all know that if Obama wanted this bill to become law that it would be a done deal.
If Barack Obama came out tomorrow in front of the television cameras and declared his support for this bill it would sail right through the Senate.
Unfortunately, the Obama administration has made it very clear that it considers a comprehensive audit of the Federal Reserve to be a really, really bad idea.
For example, Treasury Secretary Timothy Geithner once stated that auditing the Fed is a “line that we don’t want to cross” and that if we did audit the Fed it would be “problematic for the country”.
So what exactly did he mean by that?
That is a very good question.
In any event, people should take this as an opportunity to confront Barack Obama about the Audit the Fed bill wherever he goes.
Perhaps Obama will prove me wrong.
Perhaps Obama will show that he is willing to stand up to the Federal Reserve.
In fact, if Obama gets this bill pushed through Congress and signs it into law, I will not criticize him for an entire month.
But we all know that will never happen.
The Federal Reserve is going to be able to continue to keep their secrets hidden from the American people.
The following is what Ron Paul had to say following the vote on Wednesday….
“I think the whole idea that they can deal in trillions of dollars and know that nobody is allowed to ask them a question is a moral hazard.”
And Ron Paul is right.
If the Federal Reserve can zap trillions of dollars into existence out of thin air and loan that money to their friends at the big banks and to central banks in other countries, then it should not be too much to ask them to be accountable to the American people.
Over the coming months, the American people will heatedly debate whether Barack Obama or Mitt Romney would be better for the U.S. economy.
But the truth is that the Federal Reserve has far more power over the U.S. economy than the president of the United States does.
The Federal Reserve has been called the “fourth branch of government” because of how much power it has. The Federal Reserve sets our interest rates, it determines the level of our money supply, it regulates and secretly bails out our banks, it determines the “target rates” for unemployment and inflation, and every small move the Fed makes causes global financial markets to swing wildly.
The Federal Reserve does all of this without ever having to be accountable to the American people. In fact, whenever a bill is introduced that would shed some light on their activities they whine and cry about how important their “independence” is.
In a previous article, I described how preposterous this all is….
For a moment, imagine that there is a privately-owned organization in the United States that can create U.S. dollars out of thin air whenever it wants and can loan that money to whoever it wants to. Imagine that this organization is able to act with the full power of the U.S. government behind it, but that nobody in the organization is ever elected by the American people, and that for all practical purposes the organization is not accountable to the president or to Congress. Imagine that the organization is able to make trillions of dollars of secret loans to banks, to foreign governments and even to their close friends without ever having to face a comprehensive audit. Does that sound preposterous? Well, such an organization actually exists.
The American people need to stand up and demand an audit of the Federal Reserve.
We deserve to know what is going on over there.
Sadly, the mainstream media makes it sound as if hell has a better chance of freezing over than this bill does of becoming law. The following is from a USA Today article that was posted on Wednesday….
The bill stands no chance of becoming law because the Democratic-controlled Senate will not take it up. The vote, however, served as a symbolic swan song for Paul, who is not seeking re-election. It is also an indicator of how Paul’s economic views have gone more mainstream, particularly within the Republican Party, in the wake of the 2008 financial crisis that shook Americans’ confidence in Wall Street and the federal government.
Well, let us hope that this kind of a bill keeps getting introduced in Congress.
Perhaps someday we actually will get a real audit of the Federal Reserve.
When that happens, the following is a list of questions that I would like to see asked by those auditing the Fed….
If the Federal Reserve is supposed to prevent shocks to our economy, then why have there been 10 different economic recessions since 1950 and why are we about to enter another one?
Was the Federal Reserve involved in the manipulation of Libor?
What role did the Federal Reserve play in creating the housing bubble that resulted in an unprecedented housing crash?
Why has the value of the U.S. dollar fallen by 83 percent since 1970?
Why is the Federal Reserve paying U.S. banks not to lend money?
Why did Barack Obama nominate Ben Bernanke for a second term as head of the Federal Reserve when Bernanke has a track record of failure that makes the Chicago Cubs look like a roaring success?
Why is the U.S. national debt more than 5000 times larger than it was when the Federal Reserve was created in 1913?
Why were the Federal Reserve and the personal income tax both pushed through Congress in the same year in 1913?
Why does the Federal Reserve argue that it is “not an agency” of the federal government in court?
Why do all 187 nations that belong to the IMF have a central bank?
Do you have any other questions that you would like to have asked during an audit of the Federal Reserve? Please feel free to post a comment with your thoughts below….
Does anyone need any additional evidence that our political system is completely broken? The bipartisan congressional supercommittee that was given two months to come up with at least $1.2 trillion in deficit cuts over the next decade has failed to reach an agreement. It is an epic failure and a national embarrassment. The truth is that they never even came close to an agreement. In fact, as you will read below, the two sides on the panel have been barely even talking to each other. In the end, the supercommittee was a super joke. Meanwhile, the U.S. national debt has passed the 15 trillion dollar mark and we are facing trillion dollar deficits as far as the eye can see. We are heading directly for a national financial disaster, and our “leaders” seem powerless to do anything about it.
According to the supercommittee’s rules, any plan would have had to have been submitted to the Congressional Budget Office by Monday in order to give the CBO 48 hours to analyze how much the plan would reduce budget deficits over the coming decade.
When the supercommittee was announced, it made headlines all over the world, but now it is ending with a whimper.
The supercommittee was never a good idea in the first place, but you would have thought that they could have come up with something over the course of two months.
But instead all they are giving us are a whole bunch of excuses and a whole lot of hot air.
What a joke.
Is it really that difficult to come up with $1.2 trillion in cuts over a decade?
It isn’t as if they would even be cutting very deeply. $1.2 trillion in cuts would not even cut the budget by $150 billion a year. We would still be talking about trillion dollar deficits way into the future.
But instead of agreeing to some token cuts, they have chosen to do nothing and to blame each other.
So now $1.2 trillion in “automatic budget cuts” will go into effect starting in 2013. But even that $1.2 trillion figure contains a lot of “fuzzy math”. For example, it includes $169 billion in “projected savings” from “reduced interest costs” on the national debt.
I would love to see how they came up with that figure.
In any event, the truth is that none of these numbers really matter at all.
None of the budget cuts go into effect until after the 2012 election. That means that this Congress can vote to repeal the automatic cuts well before then.
Some in Congress are already pushing for this. For example, U.S. Senator John McCain said the following recently….
“It’s something we passed. We can reverse it.”
Or, even more likely, once the new president and the new Congress are elected in 2012 they will almost certainly choose to abandon this agreement.
When it comes to politics, the only thing that matters is what happens before the next election.
All of this talk of future cuts is just an illusion. When the next president and the next Congress come to power, they will want to do their own thing.
So after all of the huffing and puffing over the last couple of years, what has actually been accomplished as far as reducing our horrific budget deficits?
Not much at all.
We racked up a $1.3 trillion budget deficit during the fiscal year that just ended, and this fiscal year we will be somewhere in the same neighborhood.
We have been living in the greatest debt bubble in the history of the world, and at some point all of this is going to end very, very badly.
The total amount of debt in this country (government, business and consumer) has been rising much, much faster than our national income has. If you don’t believe this, just check out this chart.
In particular, government debt is totally out of control. When Barack Obama first took office, the national debt was 10.6 trillion dollars.
It is now over 15 trillion dollars.
We are in debt up to our eyeballs and we desperately need our leaders to do something about it.
But according to a recent Politico article, the members of the supercommittee haven’t even been talking to each other….
The supercommittee last met Nov. 1 – three weeks ago! It was a public hearing featuring a history lesson, “Overview of Previous Debt Proposals,” with Alan Simpson, Erskine Bowles, Pete Domenici and Alice Rivlin. The last PRIVATE meeting was Oct. 26. You might as well stop reading right there: The 12 members (6 House, 6 Senate; 6 R, 6 D) were never going to strike a bargain, grand or otherwise, if they weren’t talking to each other. Yes, we get that real deal-making occurs in small groups. But there never WAS a functioning supercommittee: There was Republican posturing and Democratic posturing, with some side conversations across the aisle.
Can you believe that?
Could it really be true that they have not met since November 1st?
Is Congress really that much of a joke?
According to Real Clear Politics, the approval rating for Congress is sitting at about 12 percent right now.
After this, it may get even lower.
Instead of working on a solution to our problems, the members of the supercommittee have been busy going on television and telling us who to blame.
The following is a short exceprt from a recent article in the Washington Post….
Republicans on the supercommittee held a conference call Saturday morning, and aides said members from both parties continued to talk by phone. But neither side was predicting a last-minute breakthrough. Instead, seven panel members booked appearances on the Sunday talk shows, as both sides readied their best arguments for why the other is at fault.
Our politicians are obsessed with finding someone else to blame and with getting ready for the next election.
Meanwhile, the ship is going down and people are starting to panic.
And this is not going to look good to the rest of the world at all. There is a very real risk that one of the other major credit rating agencies will decide to downgrade U.S. debt.
The second downgrade of debt is often more important than the first. When the first downgrade happened, U.S. debt still had a AAA rating from the other two major credit rating agencies.
But after another downgrade, the average credit rating of U.S. debt will be less than AAA. That will mean that U.S. debt will no longer be a cash proxy. A lot of transactions that take place right now in the financial world would not be able to happen if that takes place.
So what do our leaders need to do?
Well, the truth is that we should recognize that they are in a really, really tough position. Decades of nightmarish decisions have left us out of good options under our current financial system.
The reality is that members of Congress are damned if they do and they are damned if they don’t.
This is what I mean – if we don’t deal with our national debt now, everyone agrees that a massive day of reckoning is coming down the road. Greece is an example of what happens when debt catches up with a nation.
However, if we did cut the federal budget very deeply right now, it would almost certainly bring on a huge economic contraction.
Right now, insane federal spending is one of the only things keeping this economy afloat. If you were to suddenly pull half a trillion dollars (or more) of federal spending out of the economy, it would have a devastating impact.
A lot of people out there correctly argue for a huge reduction in federal spending, but they greatly underestimate the amount of pain that it would cause.
Let there be no doubt, all of this federal debt has enabled us to enjoy a “false prosperity” for several decades, and when we dramatically cut back on spending a lot of that “false prosperity” is going to disappear.
Our “real economy” is rapidly being gutted and America is becoming poorer as a nation every single day. One way that we have been making up the difference is by going into almost unbelievable amounts of government debt. When the government debt bubble pops, the pain is going to be enormous.
If you do not believe this right now, you will believe it soon enough.
Not that we should keep going into huge amounts of debt.
Every dollar that we “borrow” is actually being stolen from our children and our grandchildren.
In fact, that is what Thomas Jefferson believed. According to Jefferson, when the federal government borrows money in one generation which must be paid back by future generations it is equivalent to stealing….
And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
We have got to stop stealing from future generations. If they get the chance, they will curse us for what we have done to them.
Anyone out there that supports our current system of running endless budget deficits is supporting a horrific crime against our children and our grandchildren.
But once again, we all need to clearly understand that when the borrowed money stops flowing out of Washington D.C., our economy is going to get much worse.
Are you prepared for the unemployment rate to double?
Are you prepared for foreclosures to soar to unprecedented heights?
Are you prepared for economic pain unlike anything you have ever seen before?
According to the New York Times, there are 100 million Americans that are either living in poverty or that are considered to be among the “near poor” right now.
So how bad will things get if we plunge into a depression?
Anyone that believes that we can drastically cut the federal budget and improve the economy at the same time under our current system is not being rational.
Just look at what is happening to Greece. They implemented substantial budget cuts (although not nearly big enough to bring them to a balanced budget) and they have plunged into a nightmarish economic depression.
Right now, we are in a position where we are going to experience a horrific amount of pain whatever we do. If we keep piling up debt at this rate we will experience a nightmare, but if we pop the debt bubble and try to live within our means we will also experience a nightmare.
There is a way out of this, but our politicians are not talking about it. As I have written about previously, if the federal government abolishes the Federal Reserve and starts issuing debt-free money, we could eliminate our federal budget deficits, cut taxes and improve the economy all at the same time.
But nobody is even talking about debt-free money.
Instead, all of our politicians are talking about “fixing” the current system.
Well, let me tell you, it is impossible to solve our problems under the current system. If we insist on maintaining our current debt-based financial system, it will only end in a massive amount of pain.
The American people need to get educated about our financial system. They need to learn that the Federal Reserve and the debt-based currency that they issue are at the very heart of our economic problems.
Back in 1913, prior to the passage of the Federal Reserve Act, the national debt was only about $2.9 billion.
Today, our national debt is over 5000 times larger.
Debt-based central banking is a perpetual debt machine. It is at the heart of our financial problems and it is also at the heart of the financial problems that Europe is experiencing.
Unfortunately, the American people don’t understand this, and there are virtually no politicians out there that are even talking about this.
Very dark days are ahead for America.
You had better get prepared.