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 For those waiting for our economic problems to be solved, you can quit holding your breath. There is simply not going to be a solution to our economic problems on the national level. So why is that the case? Well, it is because the economic policies of both major political parties are very, very similar when you take a close look at them. Yes, that statement may sound downright bizarre to many Americans, but it is true. Both major political parties supported the Wall Street bailouts, both of them fully support the job-killing "free trade" globalization agenda, both of them have dramatically increased the national debt when in power, both of them fully support the currency-killing policies of the Federal Reserve, and neither major political party would get rid of the income tax and the IRS. And that is just for starters. Yes, there are some minor differences when it comes to taxing and spending between the two parties, but the truth is that they are a lot more similar on economic issues than they are different. What we desperately need on the national level is a fundamental change in direction when it comes to economic policy, but we simply are not going to get that from either the Democrats or the Republicans. That means that there is no hope that the economic storm that is coming will be averted. (Read More....)
 Is there one thing that Tony Robbins, Ron Paul and Ben Bernanke can all agree on? Yes, there actually is. Recently they have all come forward with warnings that the national debt crisis could destroy America if something is not done. Unfortunately, our politicians continue to spend us into oblivion as if there will never be any consequences. When Barack Obama took office, the U.S. national debt was 10.6 trillion dollars. Today, it is 15.6 trillion dollars and it is rising at the rate of about 150 million dollars an hour. During the Obama administration so far, the U.S. government has accumulated more debt than it did from 1776 to 1995. The United States now has a debt to GDP ratio of over 100 percent, and another credit rating agency downgraded U.S. debt earlier this month. Any talk of a positive economic future is utter nonsense as long as we are bleeding red ink as a nation far faster than we ever have before. It is absolutely immoral to wreck the financial future of our children and our grandchildren and to leave them with a bill for the greatest mountain of debt in the history of the world, but that is exactly what we are doing. Unless our current debt-based financial system is thrown out, there are only two ways that this game is going to play out. One would involve absolutely bitter austerity and deflation unlike anything ever seen before, and the other would involve nightmarish hyperinflation. Either path would be hellish beyond what most Americans could possibly imagine. (Read More....)
 You are not going to believe some of the things that the U.S. government is spending money on. According to a shocking new report, U.S. taxpayer money is being spent to study World of Warcraft, to study how Americans find love on the Internet, and to study the behavior of male prostitutes in Vietnam. Not only that, but money from the federal government is also being used to renovate a pizzeria in Iowa and to help a library in Tennessee host video game parties. These are just some of the examples in a new report on government waste from Senator Tom Coburn entitled "Wastebook 2010". Even as tens of millions of American families find themselves suffering through the worst economic downturn in modern history, the U.S. government continues to spend money on some of the craziest and most frivolous things imaginable. Every single year articles are written and news stories are done about the horrific government waste that is taking place and yet every single year it just keeps getting worse. So just what in the world is going on here? (Read More....)
 In a surprise move, the co-chairs of Barack Obama's national debt commission released their preliminary proposals to the media on Wednesday. The proposals are actually quite modest - they recommend that nothing be implemented until 2012 because of the weak economy, and their plan would not balance the federal budget until 2037 - but almost as soon as it was released Democrats and Republicans both started screaming bloody murder about how they would not support it. The truth is that virtually none of our politicians are willing to make the hard choices that would be necessary to get the national debt under control. Today, the U.S. national debt is rapidly approaching 14 trillion dollars and it is growing at an exponential rate. It is the single largest debt in the history of the world, and it has increased in size for 53 years in a row. It would be very difficult to understate the true horror of the debt that the U.S. federal government has accumulated. So what is the solution? As you will see below, there isn't one. In fact, it will be an absolute miracle if our leaders are able to even slow down the rate at which the debt is growing in the years ahead. (Read More....)
 Do you want to see something truly frightening? Just check out the 3 charts posted further down in this article. These charts prove that we are now in the biggest debt bubble in the history of the world. As Americans have enjoyed an incredibly wonderful standard of living over the past three decades, most of them have believed that it was because we are the wealthiest, most prosperous nation on the planet with economic and financial systems that are second to none. But that is not even close to accurate. The reason why we have had an almost unbelievably high standard of living over the past three decades is because we have piled up the biggest mountains of debt in the history of the world. Once upon a time the United States was the wealthiest country on the planet, but all of that prosperity was not good enough for us. So we started borrowing and borrowing and borrowing and we have now been living beyond our means for so long that we consider it to be completely normal. (Read More....)
 Unless the U.S. Congress acts, there is going to be a massive wave of tax increases in 2011. In fact, some are already calling 2011 the year of the tax increase. A whole host of tax cuts that Congress established between 2001 and 2003 are set to expire in January unless Congress chooses to renew them. But with Democrats firmly in control of both houses that appears to be extremely unlikely. These tax increases are going to affect every single American (at least those who actually pay taxes). But this will be just the first wave of tax increases. Another huge slate of tax increases passed in the health care reform law is scheduled to go into effect by 2019. So Americans that are already infuriated by our tax system are only going to become more frustrated in the years ahead. The reality is that the U.S. government will soon be digging much deeper into our wallets. (Read More....)
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Government Waste: 20 Of The Craziest Things That The U.S. Government Is Spending Money On