The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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Meet One Of The Victims Of Obama’s “Economic Recovery”

Barack Obama speaking into a microphone and pointing to the right - Photo by Pat HawksHave you ever cried yourself to sleep because you had no idea how you were going to pay the bills even though you were working as hard as you possibly could?  You are about to hear from a single mother that has been there.  Her name is Yolanda Vestal and she is another victim of Obama's "economic recovery".  Yes, things have never been better for the top 0.01 percent of ultra-wealthy Americans that have got millions of dollars invested in the stock market.  But for most of the rest of the country, things are very hard right now.  At this point, more than 102 million working age Americans do not have a job, and 40 percent of those that are actually working earn less than $20,000 a year in wages.  If we actually are experiencing an "economic recovery", then why is the federal government spending nearly a trillion dollars a year on welfare?  And that does not even include entitlement programs such as Social Security and Medicare.  We live in a nation where poverty is exploding and the middle class is shrinking with each passing day.  But nothing is ever going to get fixed if we all stick our heads in the sand and pretend that everything is "just fine". (Read More....)

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The Percentage Of Americans That Consider Themselves To Be “Lower Class” Is At An All-Time High

Urban Decay In BuffaloDo you consider yourself to be "lower class"?  Most Americans wouldn't dream of thinking that way.  Even at the toughest times of my own life, I always considered myself to be "middle class".  Traditionally, the vast majority of Americans have described themselves as either "middle class" or "working class", but now we are witnessing a huge shift.  According to survey results that were just released, the percentage of Americans that identify themselves as "lower class" is now at an all-time high.  It is still only 8.4 percent of the country, but the fact that this number is rapidly growing shows that something is changing on a very fundamental level.  In America today, less people than ever believe that they have the opportunity to make a better life for themselves, and according to a brand new Gallup poll that was just released, 20 percent of all Americans did not have enough money to buy food that they or their families needed at some point over the past year.  We have 47 million people on food stamps and we have more than 100 million Americans enrolled in at least one welfare program, and that does not even count Social Security or Medicare.  We have gone from a "land of opportunity" to a land where tens of millions of people are being crushed by the system. (Read More....)

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Do You Want To Scare A Baby Boomer?

Do You Want To Scare A Baby Boomer?If you want to frighten Baby Boomers, just show them the list of statistics in this article.  The United States is headed for a retirement crisis of unprecedented magnitude, and we are woefully unprepared for it.  At this point, more than 10,000 Baby Boomers are reaching the age of 65 every single day, and this will continue to happen for almost the next 20 years.  The number of senior citizens in America is projected to more than double during the first half of this century, and some absolutely enormous financial promises have been made to them.  So will we be able to keep those promises to the hordes of American workers that are rapidly approaching retirement?  Of course not.  State and local governments are facing trillions in unfunded pension liabilities.  Medicare is facing a 38 trillion dollar shortfall over the next 75 years.  The Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.  Meanwhile, nearly half of all American workers have less than $10,000 saved for retirement.  The truth is that I was being incredibly kind when I said earlier that we are "woefully unprepared" for what is coming.  The biggest retirement crisis in history is rapidly approaching, and a lot of the promises that were made to the Baby Boomers are going to get broken. (Read More....)

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Show This To Anyone That Believes That Taxes Are Too Low

Every year average Americans pay dozens of different types of taxes, and yet many of our politicians are very open about the fact that they want to raise rates even higher and invent even more ways to bleed us all dry.  Someday historians will look back and be absolutely amazed at how stupid we were.  We have the most complicated tax code in all of human history and at this point the federal tax code is more than four times as long as the entire collected works of William Shakespeare.  In many places it is so incomprehensible that nobody actually understands what it means and the entire thing is absolutely riddled with loopholes from the beginning to the end.  Trust me, I used to study this stuff.  Nobody could ever read the entire thing - it is close to four million words long.  But that is just for federal income taxes.  We have a number of other taxes taken out of our paychecks such as state income taxes, Social Security taxes and Medicare taxes.  Sadly, the taxes taken out of your paycheck are only just the beginning.  As I will detail below, there are more than 40 other taxes that average Americans pay each year in addition to the taxes that are taken out of our paychecks.  Our politicians love to find ways that they can "raise revenue" without us feeling it.  Most people just focus on income tax rates and they forget about the dozens of other ways that they are bleeding us dry.  It really is kind of like "death by a thousand cuts", and of course the middle class gets hit the hardest.  The poor are exempt from many taxes, the ultra-wealthy are masters at cheating the system and avoiding taxes, and so the most pain is always felt by those in the middle.  Hard working middle class families and small businesses all over America are being financially raped by this insidious system.  If you know of anyone out there that believes that taxes are "too low", please show this article to them. (Read More....)

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$83,046 For A 3 Hour Hospital Visit – Why Are Hospital Bills So Outrageous?

The fastest way to go broke in America is to go to the hospital.  These days it seems like almost everyone has an outrageous hospital bill story to share.  It is getting to the point where most people are deathly afraid to go to the hospital.  All the financial progress that you have made in recent years can literally be wiped out in just a matter of hours.  For example, you are about to read about an Arizona woman that was recently charged $83,046 for a 3 hour hospital visit.  How in the world is anyone supposed to pay a bill like that?  I have a really hard time understanding why a visit to the doctor should ever be more than a couple hundred bucks or why a hospital stay should ever be more than a couple thousand dollars.  Outrageous hospital bills are a real pet peeve of mine and I have not even been to the hospital in ages.  What makes all of this even more infuriating is that Medicare, Medicaid and the big insurance companies are often charged less than 10 percent of what the rest of us are billed for the same procedures.  There is a reason why 41 percent of all working age Americans are struggling with medical debt right now.  It is because our health care system has become a giant money making scam.  Millions of desperate Americans go into hospitals each year assuming that they will be treated fairly, but in the end they get stuck with incredibly outrageous bills and in many cases cruel debt collection techniques are employed against them if they don't pay. (Read More....)

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Barack Obama’s Budget For 2012: A Complete And Total Joke

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. (Read More....)

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The Silent Entitlements Monster: Social Security, Medicare And Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020

There is a silent monster that looms menacingly over U.S. government finances.  Every politician knows about it, but very few of them ever want to talk about it.  This silent monster grows larger every year, and yet nobody seems to know quite what to do about it.  Those who have closely analyzed this monster all seem to agree that one day it will create a financial tsunami of a magnitude that is absolutely unprecedented, but there is vast disagreement about how to escape this financial tsunami or if it is even possible to escape it.  The name of this monster is "entitlements" - Social Security, Medicare and other social Ponzi schemes that the U.S. government has locked itself into funding.  It would be hard to understate the seriousness of the problem that entitlements present.  In fact, according to an official U.S. government report, rapidly growing interest costs on the national debt together with spending on major entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019.  By 2020, that figure will be up around 100 cents of every dollar of federal revenue.  So that means that interest on the debt and spending on entitlement programs will eat up everything the U.S. government takes in before a penny is spent on anything else.  That is a recipe for national financial suicide. (Read More....)

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The 2009 Financial Report Of The U.S. Government Is Out – America’s Economic Goose Is Cooked

The 2009 Financial Report Of The U.S. Government has finally been released, and the news is not good.  It basically confirms much of what we already know - that the United States government is a complete financial mess.  The U.S. government budget deficit for 2009 was a record-setting 1.417 trillion dollars.  The total liabilities of the U.S. government rose from 12.178 trillion dollars at the end of 2008 to 14.123 trillion dollars by the end of 2009.  At their present rates of growth, the interest on the national debt and spending on entitlement programs will gobble up almost every single dollar of federal revenue by the end of the decade.  Throughout the report, the word "unsustainable" is repeatedly used.  The authors of the report understand that the U.S. government simply cannot keep spending and borrowing like it has been recently.  But if the U.S. government slows down this reckless spending even a little bit it could literally plunge the U.S. economy into a deflationary depression.  In fact, even with all of the "bailouts" and "stimulus packages" there are many who would argue that we are already in a depression.  In any event, the authors of the report make it clear that the United States government is facing a financial crisis of unprecedented magnitude. (Read More....)

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