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Washington D.C. Is Essentially Just A Gigantic Money Machine

If you have ever wondered why our leaders in Washington D.C. seem to act so strangely, the truth is that it almost always comes down to just one thing.  It has been said that “money makes the world go round”, and that is definitely true in Washington.  This year the federal government will spend more than 4 trillion dollars, and that represents well over one-fifth of our national GDP.  With so much money coming in and so much money going out, the stakes are incredibly high, and that is why so much money is poured into political campaigns on the national level.

And it shouldn’t surprise anyone that those that live the closest to this gigantic money machine have benefited greatly.  Forbes just released their brand new rankings for 2017, and they found that five out of the top 10 wealthiest counties in the entire country are suburbs of Washington D.C.

Virginia’s Loudoun County holds the title of the nation’s richest county with a median household income of $125,900. While nearly 10,000 residents commute to the District, according to Forbes, about 11,700 businesses employ 161,000 county residents, with Dulles International Airport, Loudoun County Public Schools and the Department of Homeland Security leading that charge.

The nearby city of Falls Church, Fairfax and Arlington counties in Virginia and Howard County in Maryland also lead the nation based on wealth.

In general, salaries for federal workers are significantly higher than in the private sector, and benefit packages are usually much better.

But in addition to having a very high concentration of federal workers, the D.C. area is also home to hordes of lawyers, lobbyists, defense contractors and other government vendors.  Big government means big business for those guys, and business has been very good in recent years…

The federal government has a lot to do with this: The Capitol and the economy orbiting around it (including lawyers, defense contractors, computer engineers along the Dulles Corridor, and doctors near NIH) attract college graduates who reliably contribute to six-figure households. Crucially, there was a $1.7 billion increase in lobbying between 1998 and 2010, as Dylan Matthews explained. With each $1 million of lobbying “associated with a $3.70 increase in the D.C. wage premium,” the money pouring into Washington wound up in the pockets of its residents.

This certainly isn’t the limited government that our founders intended.

So where did we go wrong?

One of the big turning points came in 1913.  That is the year when the Federal Reserve and the modern version of the income tax were established.  The Federal Reserve was designed by the elite to get the federal government very deeply into debt, and an income tax was needed to help service that debt and to help pay for the much larger government that the progressives were wanting.

Back then, D.C. was nothing like it is today.  In fact, even in the 1970s there were still large farms inside the Beltway.  But the federal government just kept getting bigger and bigger and bigger, and now it is a four trillion dollar monstrosity.

What I believe we should do is to dismantle as much of that monstrosity as we possibly can.  Instead of asking which government agencies we should close, I believe that we should be asking which government agencies we really need to leave open.

A great place to start would be by abolishing the Federal Reserve, the IRS and the income tax.  Those institutions are at the very core of the Washington money machine, and so it would essentially be like tearing the heart out of big government.

And don’t worry, the federal government would still have plenty of money coming in.  The individual income tax only accounts for about 46 percent of all federal revenue, and theoretically we could still have an absolutely enormous federal government without an income tax.  I once wrote an article that listed 97 different ways that various levels of government get money out of us each year, and so getting rid of the federal income tax would still leave 96 ways for the politicians to extract money from us.

As I remind my readers so frequently, the greatest period of economic growth in U.S. history was when there was no income tax and no central bank.  But I know that a lot of people out there love the 1.33 percent average yearly GDP growth rate that we have been experiencing over the past decade and would have a really hard time giving that up.

Unfortunately, it would actually be a very tough transition to a much more limited federal government because so much of our society is geared around the enormous money machine in Washington.  In 2018, more than a billion dollars will be spent on the mid-term elections, and most of that money will be going to incumbents that are committed to maintaining the status quo.

If we ever want things to really start changing in Washington, we have got to start sending people there that haven’t been bought off by the big money interests.

In my congressional district there is no incumbent running in 2018, and nobody else in the race is nearly as conservative as I am.  But since I can’t be bought by the special interests, I am going to have to rely on grassroots support.

Donald Trump showed us that anything is possible in American politics.  When Jeb Bush decided to run for president, he had an extremely long list of endorsements and a hundred million dollars behind him, and he still got trounced by Trump because Trump had a much stronger message.

If we stand united, we can take our government back and there won’t be anything that the establishment will be able to do about it.

But if we sit back and do nothing, the cesspool of corruption in Washington D.C. will just continue to get deeper and deeper.

Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

Is This The Generation That Is Going To Financially Destroy America?

Did you know that the federal government is going to spend more than 4 trillion dollars this year?  To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.  So when you are talking about 4 trillion dollars you are talking about a huge chunk of our economy.  But of course the federal government doesn’t bring in 4 trillion dollars a year.  At the beginning of Barack Obama’s first term, we were 10.6 trillion dollars in debt, and now we are nearly 20 trillion dollars in debt.  That means that we have been adding more than a trillion dollars a year to the national debt.  When you break that down, that means that we have essentially been stealing more than a hundred million dollars from future generations of Americans every single hour of every single day to pay for our debt-fueled lifestyle.  Even Federal Reserve Chair Janet Yellen is warning that this is not sustainable, and yet we just keep on doing it.

Nobody can pretend that what we have today is the kind of limited federal government that our founders intended.  When federal spending accounts for more than 20 percent of GDP, it is hard to argue that we haven’t moved very far down the road toward socialism.  As I mentioned above, total federal spending will surpass 4 trillion dollars for the first time ever in 2017…

Both the Congressional Budget Office and the White House Office of Management and Budget project that federal spending will top $4 trillion for the first time in fiscal 2017, which began on Oct. 1, 2016 and will end on Sept. 30.

In its “Update to the Budget and Economic Outlook: 2017 to 2027” published last week, CBO projected that total federal spending in fiscal 2017 will hit $4,008,000,000,000.

I was recently asked how we are going to pay for a 4 trillion dollar government if we abolish the income tax like I am proposing.

Well, the truth is that we would have to dramatically reduce the size and scope of the federal government.  Our founders always intended for the individual state governments to be much stronger than they are right now, and it is time for us to restore that constitutional balance.

Something desperately needs to be done, because we have a federal government that is completely and totally out of control.  Even the Congressional Budget Office agrees that we are headed toward absolute disaster if our leaders in Washington don’t start displaying some fiscal responsibility…

A large and continuously growing federal debt would increase the chance of a fiscal crisis in the United States. Specifically, investors might become less willing to finance federal borrowing unless they were compensated with high returns. If so, interest rates on federal debt would rise abruptly, dramatically increasing the cost of government borrowing. That increase would reduce the market value of outstanding government securities, and investors could lose money. The resulting losses for mutual funds, pension funds, insurance companies, banks, and other holders of government debt might be large enough to cause some financial institutions to fail, creating a fiscal crisis. An additional result would be a higher cost for private-sector borrowing because uncertainty about the government’s responses could reduce confidence in the viability of private-sector enterprises.

It is impossible for anyone to accurately predict whether or when such a fiscal crisis might occur in the United States. In particular, the debt-to-GDP ratio has no identifiable tipping point to indicate that a crisis is likely or imminent. All else being equal, however, the larger a government’s debt, the greater the risk of a fiscal crisis.

The likelihood of such a crisis also depends on conditions in the economy. If investors expect continued growth, they are generally less concerned about the government’s debt burden. Conversely, substantial debt can reinforce more generalized concern about an economy. Thus, fiscal crises around the world often have begun during recessions and, in turn, have exacerbated them.

I get so frustrated with Republicans in Congress, because they are supposed to be watching out for us.

During the 2010 elections, one of the biggest mid-term landslides of all time gave Republicans control of the House of Representatives and they have had it ever since.  One of the pillars of the “Tea Party revolution” was fiscal responsibility, but the national debt has just continued to explode.

When the Republicans took control of the House in early 2011, we were about 14 trillion dollars in debt, and now we are nearly 20 trillion dollars in debt.

We have been betrayed, and those that have done this to us need to be held accountable.

Of course the big reason why our politicians never want to control spending is because they know what it will do to our economy.

During the Obama years, we spent more than 9 trillion dollars that we didn’t have.  If we could somehow go back and take 9 trillion dollars out of the economy over those 8 years, we would be in the worst depression in U.S. history right now.

Nobody in Washington wants to be responsible for plunging us into an economic depression, and so they just keep stealing from the future in order to prop things up in the short-term.

And a similar thing could be said about central bank intervention.  If the Federal Reserve and other global central banks had not pumped trillions upon trillions of dollars into the financial system over the past 8 years, we would be in the midst of a horrific economic nightmare right now.

But now all of that “hot money” has created epic financial bubbles all over the planet, and when they finally burst the ensuing crisis will be far, far worse than if they had never intervened in the first place.

Global central banks now have more than 20 trillion dollars in assets on their balance sheets and the world is more than 217 trillion dollars in debt.  The desperate measures that national governments and central banks have been taking have delayed the coming crisis, but they have also guaranteed that it will be far worse than it could have otherwise been.

The stage is set for the worst financial crisis in world history, and the only way that it can continue to be delayed is for our leaders to continue to inflate the bubbles larger and larger and larger.

But of course no bubble can last forever, and the bigger they become the harder they burst.

The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way

The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers.  Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation.  As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts.  In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite.  It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.

According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars

Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual economic output (GDP), reports the Institute of International Finance (IIF).

The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

Never before in human history has our world been so saturated with debt.

And what all of this debt does is that it funnels wealth to the very top of the global wealth pyramid.  In other words, it makes global wealth inequality far worse because this system is designed to make the rich even richer and the poor even poorer.

Every year the gap between the wealthy and the poor grows, and it has gotten to the point that eight men have as much wealth as the poorest 3.6 billion people on this planet combined

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

This didn’t happen by accident.  Sadly, most people don’t even understand that this is literally what our system was designed to do.

Today, more than 99 percent of the population of the planet lives in a country that has a central bank.  And debt-based central banking is designed to get national governments trapped in endless debt spirals from which they can never possibly escape.

For example, just consider the Federal Reserve.  During the four decades before the Federal Reserve was created, our country enjoyed the best period of economic growth in U.S. history.  But since the Fed was established in 1913, the value of the U.S. dollar has fallen by approximately 98 percent and the size of our national debt has gotten more than 5000 times larger.

It isn’t an accident that we are 20 trillion dollars in debt.  The truth is that the debt-based Federal Reserve is doing exactly what it was originally designed to do.  And no matter what politicians will tell you, we will never have a permanent solution to our debt problem until we get rid of the Federal Reserve.

In 2017, interest on the national debt will be nearly half a trillion dollars.

That means that close to 500 billion of our tax dollars will go out the door before our government spends a single penny on the military, on roads, on health care or on anything else.

And we continue to pile up debt at a rate of more than 100 million dollars an hour.  According to the Congressional Budget Office, the federal government will add more than a trillion dollars to the national debt once again in 2018…

Unless current laws are changed, federal individual income tax collections will increase by 9.5 percent in fiscal 2018, which begins on Oct. 1, according to data released today by the Congressional Budget Office.

At the same time, however, the federal debt will increase by more than $1 trillion.

We shouldn’t be doing this, but we just can’t seem to stop.

Let me try to put this into perspective.  If you could somehow borrow a million dollars today and obligate your children to pay it off for you, would you do it?

Maybe if you really hate your children you would, but most loving parents would never do such a thing.

But that is precisely what we are doing on a national level.

Thomas Jefferson was strongly against government debt because he believed that it was a way for one generation to steal from another generation.  And he actually wished that he could have added another amendment to the U.S. Constitution which would have banned government borrowing…

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.”

And the really big secret that none of us are supposed to know is that governments don’t actually have to borrow money.

But if we start saying that too loudly the people that are making trillions of dollars from the current system are going to get very, very upset with us.

Today, we are living in the terminal phase of the biggest debt bubble in the history of the planet.  Every debt bubble eventually ends tragically, and this one will too.

Bill Gross recently noted that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.  One wrong move and the whole thing could blow sky high.

When everything comes crashing down and a great crisis happens, we are going to have a choice.

We could try to rebuild the fundamentally flawed old system, or we could scrap it and start over with something much better.

My hope is that we will finally learn our lesson and discard the debt-based central banking model for good.

The reason why I am writing about this so much ahead of time is so that people will actually understand why the coming crisis is happening as it unfolds.

If we can get everyone to understand how we are being systematically robbed and cheated, perhaps people will finally get mad enough to do something about it.

Are The ‘Toxic’ Democrats Destined To Become A Permanent Minority Party?

It has become exceedingly clear that the Democratic Party is in deep trouble.  Close to 55 million dollars was spent on the race in Georgia’s sixth congressional district, and that shattered all kinds of records.  Democrat Jon Ossoff was able to raise and spend six times as much money as Karen Handel and yet he still lost.  This was supposed to be the race that would show the American people that the Democrats could take back control of Congress in 2018, and so for the Democrats this was a bitter failure.  The Democratic Congressional Campaign Committee actually injected almost 5 million dollars into the race themselves, and Planned Parenthood threw in another $700,000.  But after all of the time, effort and energy that was expended, Handel still won fairly comfortably.

The Democrats are trying to spin this result as some sort of “moral victory”, but as Dan Balz of the Washington Post has pointed out, there are “no moral victories in politics”…

There are no moral victories in politics. Republicans won on Tuesday in the most important special election this year. Democrats lost, as they have done in the other special elections in GOP-held seats this year.

For the national Democratic Party, the debate continues about developing a message that goes beyond attacking Trump, or assuming dissatisfaction with the president will be enough.

It has been a very long time since there has been so much national attention on a single House race.  A number of high profile Hollywood celebrities became personally involved in Ossoff’s campaign, and they were absolutely devastated when he lost

Celebrities who donated time and money to Ossoff’s campaign, including actresses Alyssa Milano and Rosie O’Donnell, used their social media accounts to react to the Democrat’s loss shortly after the election results were confirmed late Tuesday night.

Milano, who personally drove voters to the polls in April’s preliminary election and was actively campaigning for the Democrat for most of Election Day, tweeted simply: “Grouphug” and “Get in.”

Meanwhile, electronic music producer Moby and vocal Trump critic O’Donnell appeared to be frustrated by the results, with Moby questioning how Democratic “still can’t win” even with “buffoon” Donald Trump in the White House. O’Donnell tweeted: “DONALD TRUMP IS THE DARKNESS ITSELF.”

Where does the Democratic Party go from here?

Their anti-Trump message is not working, and their usual divide and conquer tactics are not working either.

At this point either the Democratic Party is going to have to reinvent itself, or they could be facing a long, painful string of election defeats for the foreseeable future.  To say that things have not been going well for the Democrats lately would be a major understatement.  I really like what Rush Limbaugh had to say about this on his radio show…

“You have no idea the degree to which the media and the Democratic Party are destroyed today. I’m talking about how they feel … which is complete and utter defeat, frustration and devastation,” he said on Wednesday, hours after Republican Karen Handel was a multiple percentage point winner over defeated Democrat Jon Ossoff.

“The dirty little secret is the media and the Democratic Party is turning off average Americans. They are not persuading, they are not convincing people Trump is a reprobate,” he continued. “They do not know how to beat Donald Trump. There are depressed and despondent.”

It doesn’t take a genius to figure out why Jon Ossoff lost.

All of the anger and violence that we have seen lately has greatly tainted the Democratic Party.

The Democrats have become the party of Kathy Griffin.

The Democrats have become the party of Antifa and mock Trump assassinations.

And the Democrats have become the party of James Hodgkinson.

U.S. Representative Tim Ryan was right on the ball when he admitted that his party’s brand has now become “toxic” in much of the nation…

Representative Tim Ryan of Ohio, who tried to unseat Ms. Pelosi as House minority leader late last fall, said she remained a political millstone for Democrats. But Mr. Ryan said the Democratic brand had also become “toxic” in much of the country because voters saw Democrats as “not being able to connect with the issues they care about.”

“Our brand is worse than Trump,” he said.

As I have discussed repeatedly, the left doesn’t have any positive vision for the future to offer the American people.  They cannot win in the marketplace of ideas, and so they use anger, frustration, intimidation and violence as weapons.  For quite a while the Democrats successfully used “the blame game” and divide and conquer tactics to win elections, but now the American people are seeing through the charade.

The more angry and violent the left becomes, the more the American people are going to turn against them.  The following comes from Daniel Greenfield

But Trump Derangement Syndrome is a symptom of a problem with the left that existed before he was born. The left is an angry movement. It is animated by an outraged self-righteousness whose moral superiority doubles as dehumanization. And its machinery of culture glamorizes its anger. The media dresses up the seething rage so that the left never has to look at its inner Hodgkinson in the mirror.

The left is as angry as ever. Campus riots and assassinations of Republican politicians are nothing new. What is changing is that its opponents are beginning to match its anger.  The left still clings to the same anger it had when it was a theoretical movement with plans, but little impact on the country. The outrage at the left is no longer ideological. There are millions of people whose health care was destroyed by ObamaCare, whose First Amendment rights were taken away, whose land was seized, whose children were turned against them and whose livelihoods were destroyed.

Of course it is quite true that the Republican Party needs to be cleaned up as well.  Many establishment Republicans use labels such as “conservative” and “Pro-Life” to win elections, but then they end up government like Democrats.  And so many members of Congress in both parties spend far more time and energy raising money for their next elections than they do serving the American people.

There is a reason why Congress only has a 17.6 percent approval rating at the moment.  Both major parties should take that as a sign that they need to clean up their acts, because the American people are sick and tired of the status quo.

The Left Refuses To Tone Down Their Inflammatory Language, And As A Result We Now Have War In The Streets

What in the world did the left think would happen?  When Kathy Griffin posed for a photo with “Trump’s bloody head”, that sent a message.  And the twisted version of “Julius Caesar” that is currently being put on by a New York theater group in which a character meant to closely resemble Donald Trump is brutally assassinated sends a message.  At any time of the day, you can find leftist radicals openly discussing violence against Trump and Republicans on Facebook and Twitter, and groups like Antifa have been employing extremely violent tactics ever since the Inauguration.  So it is not much of a surprise that a huge Bernie Sanders supporter decided that it would be a good idea to try to mow down Republican members of Congress as they were practicing for an upcoming charity baseball game on Wednesday.  66-year-old James T. Hodgkinson was simply the product of a political movement that is absolutely seething with hate.

This is not a game.  House Majority Whip Steve Scalise was shot in the hip, and four others were injured.  You can see some footage of Scalise being taken to an ambulance here.  When Hodgkinson arrived at the practice field, he specifically asked which party was using the practice field at that moment…

Rep. Ron DeSantis (R-Fla.) recounted an “odd” encounter he had as he was leaving the field just minutes before the shooting: “There was a guy that walked up to us that was asking whether it was Republicans or Democrats out there, and it was just a little odd,” DeSantis told Fox News.

According to news reports, Hodgkinson fired dozens of shots.  This wasn’t a case of targeting a particular individual.  Rather, it was obvious that he intended to kill as many Republicans as he possibly could.

But instead of showing remorse, many on the radical left were actually celebrating the shootings on Twitter.  And there were even some that were disappointed that it wasn’t Trump that had been shot.

I hate to say this, but it is likely that this is just the beginning of the violence by the radical left.

So what would make a 66-year-old man suddenly snap like this?

His Facebook page has now been taken down, but when it was up Hodgkinson had an enormous photo of Bernie Sanders as his banner image.  And it turns out that he was a huge fan of Rachel Maddow

So, where did Hodgkinson draw inspiration for his “progressive” political beliefs?  Well, according to a letter to the editor published in the “Belleville News-Democrat” in July 2012, Hodgkinson’s favorite TV show was MSNBC’s “Rachel Maddow Show.”

What you consistently feed your mind determines what you eventually become, and this case is a perfect example.  On Facebook, Hodgkinson regularly shared his hate-filled beliefs

In a March 22 Facebook post, Hodgkinson, who  turned his ire against Trump, who he described as a “traitor.”

“Trump Has Destroyed Our Democracy,” he said. “It’s Time to Destroy Trump & Co.”

In a post earlier this week, the suspect highlighted a campaign calling for the president’s impeachment.

“Trump is Guilty & Should Go to Prison for Treason,” Hodgkinson wrote.

And just check out some of the Facebook groups that Hodgkinson belonged to

▪  “The Road to Hell is Paved with Republicans”

▪  “Donald Trump is not my President”

▪  “President Bernie Sanders”

▪  “Illinois Berners United to Resist Trump”

▪  “Boycott the Republican Party”

▪  “Expose Republican Fraud”

▪  “Terminate the Republican Party”

The hate-filled ideology of the left is intellectually and morally bankrupt, and the only thing all of this violence is going to do is to drive the American people away from their cause.

I must say that I agreed with U.S. Representative Steve King 100 percent when he told reporters that “violence is appearing in the streets”, and that it is “coming from the left”

“America has been divided,” said Rep. Steve King (R-Iowa), who, in suit and tie, stopped by the crime scene to pray and was viscerally angry about his colleagues being attacked. “And the center of America is disappearing, and the violence is appearing in the streets, and it’s coming from the left.”

And of course there has been a pattern of violence against Republican lawmakers in recent months.  The following compilation comes from Natural News

Last month, as noted by The Daily Caller,  GOP Rep. Tom Garrett’s town halls were replete with heavy security and police presence after he and his family were repeatedly threatened with death. “This is how we’re going to kill your wife,” some disgusting coward wrote, Garrett told Politico.

Also last month, Tennessee police arrested and charged a 35-year-old woman, Wendi Wright, with felonious reckless endangerment after she allegedly attempted to run GOP Rep. David Kustoff off the road following a raucous town hall event featuring the Republican health care legislation.

That same day, North Dakota police escorted a man out of a town hall meeting hosted by Rep. Kevin Cramer after a man became physical with him, shoving a fistful of dollars into Cramer’s shirt collar.

I almost didn’t want my wife to see what happened in Alexandria this morning, because I am very, very strongly considering running for Congress here in Idaho.

I couldn’t help but think that it could have been me out on that baseball field.

It would be naive to think that more Republican lawmakers won’t be targeted.  Just like radical Islam, the radical left in this country will never be satisfied until they completely eradicate our way of life.  The radical left uses tools such as threats, violence and intimidation because they simply do not have the ammunition to win in the marketplace of ideas.  And so anyone that tries to stand up to them will become a potential target.

But if we just sit back and do nothing, they will win by default.

In the end, Hodgkinson and others like him will fail.  Because every time they strike us, all they are doing is waking up a sleeping giant called “the American people”.  We will not bend, we will not bow, and we will not break, and no matter how violent they become our resolve will not waver.

Every since the very beginning of our nation Americans have had to stand up against tyranny, and we aren’t going to back down now.

House Of Cards: Netflix Is One Of The Poster Children For Tech Bubble 2.0

How can a company that is going to generate $2,000,000,000 in negative free cash flow in 2017 be worth 70 billion dollars?  Netflix has soared in popularity in recent years, but so have their financial losses.  Just like during the original tech bubble, investors are ignoring basic fundamentals and are greatly rewarding firms that are bleeding giant mountains of cash year after year just because they are trendy “tech companies”.  But somewhere along the line you actually have to quit losing money if you are going to survive.  Just ask tech bubble 1.0 victims Pets.com, Webvan and Etoys.com.  The investors that poured enormous amounts of money into those companies ended up losing everything, and similar tragedies will play out as tech bubble 2.0 bursts.

So far in 2017, the S&P 500 is up about 8 percent, but FANG stocks (Facebook, Amazon, Netflix and Google) are up a whopping 30 percent.

But at least Facebook, Amazon and Google are making money.

Netflix is not.

So why in the world has the stock shot up by more than 30 percent so far this year?  It just doesn’t make any sense at all.  According to CNBC, during the first quarter Netflix had $423 million in negative free cash flow, and for the entire year it is being projected that it will have $2 billion in negative free cash flow…

The California-based company is now dumping cash into original content to maintain its dominance over its growing field of rivals. The company’s had $423 million negative free cash flow during the quarter, wider than the $261 million negative free cash flow a year ago. Netflix expects to have $2 billion in negative free cash flow this year.

The bleeding of cash at Netflix only seems to be accelerating.  The number for the first quarter of 2017 was 62 percent worse than the number for the first quarter of 2016, and it was more than twice as bad as the number for the first quarter of 2015.

It is hard to imagine that Netflix will ever be more popular than it is right now.

So if Netflix is not making a profit at this point, when will it ever make a profit?

Similar things could be said about Twitter.  This is a company that has never made a yearly profit and that is actually starting to see revenues decline.  But somehow the stock just continues to go up.  Since the last time I wrote about Twitter, the market cap has shot up another 1.5 billion dollars.

At this point, the market values Twitter at 13 billion dollars, but in the entire history of the company it has actually lost 2 billion dollars.

What we are witnessing is a modern day version of “tulip mania”, and at some point this irrational euphoria will come to a sudden end.  In fact, there are already some signs that tech bubble 2.0 may be in a significant amount of trouble.  The following is an excerpt from a Bloomberg article entitled “Investors Go All-In on Tech Giants”

The tech-powered rally has catapulted the sector to a price-to-earnings ratio of 24.4, or 41 percent above the 10-year average. But as Google and Amazon stretch to nearly $1,000 a share, not everyone is comfortable with the valuations. Investors pulled more than $716 million from the most popular technology exchange-traded fund last week — the $17.4 billion Technology Select Sector SPDR Fund, or XLKits largest weekly outflow in over a year, data compiled by Bloomberg show.

“Most everybody remembers 2000, so they might be getting a little nervous with this development,” said Maley. “I just wonder how many people have said to themselves, ‘If AMZN gets to $1,000, I’m going to take at least some profits.’”

All over the financial world, prominent voices are warning that the enormous financial bubbles that we see all around us are not sustainable and that a major crisis is heading our way.  I wrote about some of these voices yesterday, and today we can add Paul Singer to the list…

Given groupthink and the determination of policy makers to do ‘whatever it takes’ to prevent the next market ‘crash,’ we think that the low-volatility levitation magic act of stocks and bonds will exist until the disenchanting moment when it does not. And then all hell will break loose (don’t ask us what hell looks like…), a lamentable scenario that will nevertheless present opportunities that are likely to be both extraordinary and ephemeral. The only way to take advantage of those opportunities is to have ready access to capital.

When the financial markets collapse, Donald Trump will likely get most of the blame.

But Donald Trump did not create the stock market bubble, and he will not be responsible for ending it either.

Since the Federal Reserve was created in 1913, we have seen this same story play out over and over again.  There have been 18 distinct recessions or depressions since the Fed was established, and the more the Fed interferes in the marketplace the larger the booms and busts tend to be.

And it could be argued that this time around the Fed has manipulated financial markets more than ever before.  Interest rates were pushed as low as possible and trillions of dollars were pumped into the financial system during the Fed’s quantitative easing programs.  Of course those actions were going to create a huge bubble, and of course that bubble is going to inevitably burst.

Unfortunately, this is not just a game.  Real people with real hopes and real dreams are going to be absolutely devastated.  Millions of Americans that were carefully saving for retirement are going to be financially crippled, and pension funds all over the nation are going to be wiped out.

I don’t know why we can’t seem to learn from history.  And I am not talking about events that happened decades ago.  The build up to this coming crisis is so similar to what we witnessed just before the crashes of 2000 and 2008, but we just keep getting fooled over and over again.

But once things fall apart this time, I think that the American people will finally be fed up.  I think that they will be sick and tired of an unelected, unaccountable central bank that creates endless booms and busts, and I think that they will finally be ready to push Congress to shut the Federal Reserve down for good.

5 Highly Respected Financial Experts That Are Warning That A Market Crash Is Imminent

If everything is going to be “just fine”, why are so many big names in the financial community warning about an imminent meltdown?  I don’t think that I have seen so many simultaneous warnings about a market crash since just before the great financial crisis of 2008.  And at this point, you would have to be quite blind not to see that stocks are absurdly overvalued and that a correction is going to happen at some point.  And when stocks do start crashing, lots of fingers are going to start pointing at President Trump, but it won’t be his fault.  The Federal Reserve and other central banks are primarily responsible for creating this bubble, and they should definitely get the blame for what is about to happen to global financial markets.

My regular readers are quite familiar with my thoughts on where the market is headed, so today let me share some thoughts from five highly respected financial experts…

#1 When Altair Asset Management’s chief investment officer Philip Parker was asked if a market crash was coming to Australia, he said that he has “never been more certain of anything in my life”.  In fact, he is so sure that the investments that his hedge fund is managing are going to crash that a decision was made to liquidate the fund “and return ‘hundreds of millions’ of dollars to its clients”

While hardly a novel claim – in the past many have warned that Australia’s housing and stock market are massive asset bubbles (which local banks have been forced to deny as their fates are closely intertwined with asset prices even as the RBA is increasingly worried) – so far few if any have gone the distance of putting their money where their mouth was. That changed, when Australian asset manager Altair Asset Management made the extraordinary decision to liquidate its Australian shares funds and return “hundreds of millions” of dollars to its clients according to the Sydney Morning Herald, citing an impending property market “calamity” and the “overvalued and dangerous time in this cycle”.

Giving up management and performance fees and handing back cash from investments managed by us is a seminal decision, however preserving client’s assets is what all fund managers should put before their own interests,” Philip Parker, who serves as Altair’s chairman and chief investment officer, said in a statement on Monday quoted by the SMH.

#2 Seth Klarman leads one of the biggest hedge funds in the United States, and he believes that U.S. investors are greatly underestimating the amount of risk in the market right now…

“When share prices are low, as they were in the fall of 2008 into early 2009, actual risk is usually quite muted while perception of risk is very high,” Klarman wrote. “By contrast, when securities prices are high, as they are today, the perception of risk is muted, but the risks to investors are quite elevated.”

Klarman oversees one of the US’s largest hedge fund firms, with some $30 billion under management. He has a huge following on Wall Street — investors named his book, “Margin of Safety,” their favorite investment book in a recent SumZero survey.

#3 Bill Blain is a strategist at Mint Partners, and he is actually specifically pointing to October 12th as the date when things will start to get “horribly interesting”

But…. Catch a falling knife, why don’t you… I shall spend the summer wondering just how long the Stock Market games continue. When, not if.

At the moment, my prediction is October 12th. Around that day its going to get horribly interesting..

Why that particular day?

Gut feel and knowing how the Bowl of Petunias felt in Hitchhikers. (“Not again.”)

There are just too many contradictory currents out there. The unsustainability of burgeoning consumer debt, unfeasibly tight credit spreads, the sandcastle foundations of student loans, autos, housing and the CLO market, China, Trump, politics.. worries about what follows Brazil in the EM market, and whatever… The risks of a massive consumer sentiment dump..  

#4 David Stockman has also been warning about what may happen this fall.  According to Stockman, this current stock market bubble “is the greatest sucker’s rally we have ever seen”

The market is insanely valued right now.  They were trying to tag, the robo machines and day traders, they were trying to tag 2,400 on the S&P 500.  They ended up at 2,399, I think, but the point is that represents about 25 times trailing earnings for 2016.  We are at a point in the so-called recovery that has already lasted 96 months.  It’s almost the longest one in history.  What the market is saying is we have reached the point of full employment forever.  There will never be another recession or any kind of economic surprise or upset or dislocation.  The market is pricing itself for perfection for all of eternity.  This is crazy. . . . I think the market could easily drop to 1,600 or 1,300.  It could drop by 40% or even more once the fantasy ends. When the government shows its true colors, that it’s headed for a fiscal bloodbath when this crazy notion that there is going to be some Trump fiscal stimulus is put to rest once and for all.  I mean it’s not going to happen.  They can’t pass a tax cut that big without a budget resolution that incorporated $10 trillion or $15 trillion in debt over the next decade.  It’s just not going to pass Congress. . . . I think this is the greatest sucker’s rally we have ever seen.

#5 Last but certainly not least, David Kranzler seems quite certain “that the stock market bubble is getting ready to pop”

Anyone happen to notice that several market commentators have argued that Bitcoin is a bubble but the same stock “experts” look the other way as the U.S. stock market becomes more overvalued by the day vs. the deteriorating underlying fundamentals? Bitcoin going “parabolic” triggers alarm bells but it’s okay if the stock price of Amazon.com Inc (NASDAQ:AMZN) is hurtling toward parity with the price of one ounce of gold. Tesla (NASDAQ:TSLA) burns a billion per year in cash. It sold 76,000 cars last year vs. 10 million worldwide for General Motors (NYSE:GM). Yet Tesla’s market cap is $51.7 billion vs. $48.8 billion for GM.

This insanity is the surest sign that the stock market bubble is getting ready to pop. If you read between the lines of the the comments from certain Wall Street analysts, the only justification for current valuations is “Central Bank liquidity” and “Fed support of asset values.” This is the most dangerous stage of a market top because it draws in retail “mom & pop” investors who can’t stop themselves from missing out on the next “sure thing.” There will be millions of people who are permanently damaged financially when the Fed loses control of this market. Or, as legendary “vulture” investor Asher Edelman stated on CNBC, “I don’t want to be in the market because I don’t know when the plug is going to be pulled.”

Could all of these top experts be wrong?

It’s possible, but I wouldn’t bet on it.

Every stock market bubble of this magnitude in U.S. history has ended in a spectacular crash, and this one will not be any different.  We can certainly have some good arguments about the exact timing of the next crash, but what everyone should be able to agree on is that a crash is coming.

You only make money in the stock market if you get out at the right time.  Many of those that timed things well have made a tremendous amount of money, but most investors will be entirely caught off guard by the market implosion that is rapidly approaching.

As I have explained to my readers repeatedly, markets tend to go down a whole lot faster than they go up, and in the not too distant future we are going to see trillions of dollars of investor wealth wiped out very, very quickly.

Let’s hope that the coming crisis will not be as bad as 2008, but I have a feeling that it is going to be much worse.

We didn’t learn our lessons the last time around, and so now we are going to pay a very high price for our stubbornness.

The Next Stock Market Crash Will Be Blamed On Donald Trump But It Will Be The Federal Reserve’s Fault Instead

A stock market crash is coming, and the Democrats and the mainstream media are going to blame Donald Trump for it even though it won’t be his fault.  The truth is that we were headed for a major financial crisis no matter who won the election.  The Dow Jones Industrial Average is up a staggering 230 percent since the lows of 2009, and no stock market rally in our history has ever reached the 10 year mark without at least a 20 percent downturn.  At this point stocks are about as overvalued as they have ever been, and every other time we have seen a bubble of this magnitude a historic stock market crash has always followed.  Those that are hoping that this time will somehow be different are simply being delusional.

Since November 7th, the Dow is up by about 3,000 points.  That is an extremely impressive rally, and President Trump has been taking a great deal of credit for it.

But perhaps he should not have been so eager to take credit, because what goes up must come down.  The following is an excerpt from a recent Vanity Fair article

According to Douglas Ramsay, chief investment officer of the Leuthold Group, Trump administration officials will come to regret gloating about the market’s performance. That’s because Trump enters the White House during one of the most richly valued stock markets in U.S. history. The last president to come in at such valuations was George W. Bush, and the dot-com bubble burst soon afterward. Bill Clinton began his second term in a more overvalued stock market in 1997, and exited unscathed. But if his timing were different by just a year, he would have been blamed for the early-aughts market crash.

This stock market bubble was not primarily created by Barack Obama, Donald Trump or any other politician.  Rather, the Federal Reserve was primarily responsible for creating it by pushing interest rates all the way to the floor during the Obama era and by flooding the financial system with hot money during several stages of quantitative easing.

But now the economy is slowing down.  Economic growth on an annual basis was just 0.7 percent during the first quarter, and yet the Federal Reserve is talking about raising interest rates anyway.

The Federal Reserve also raised interest rates in a slowing economy in the late 1930s, and that had the effect of significantly extending the economic problems during that decade.

As I noted in my article entitled “The Federal Reserve Must Go”, there have been 18 recessions or depressions since the Federal Reserve was created in 1913, and now we stand on the precipice of another one.

After this next crisis, hopefully Congress will finally understand that it is time to shut the Federal Reserve down for good, and I am going to do all that I can to make that happen.

Ron Paul is someone that I look up to greatly, and he also agrees that the blame for the coming crisis should be placed on the Federal Reserve instead of on Trump…

“There are some dire predictions that say in the next year, or 18 months, we have something arriving worse than 2008 and 2009, the downturn is much worse,” Paul said in a recent interview with liberty-minded anti-globalist radio host Alex Jones. “They’ll say, ah, it’s all Trump’s fault. No. It wasn’t. 08 and 09 wasn’t Obama’s fault. It was the fault of the Federal Reserve, it was the fault of the Keynesian economic model, the spending too much, the deficit. So, unfortunately, there’s nothing he can do — Trump can’t do it.”

Paul, a medical doctor who took a keen interest in economics throughout his celebrated career as a constitutionalist in Congress, said Trump could “help” the situation by pursuing good policies. “But you can’t avoid the correction, the correction is locked in place, because the deficits are there, the malinvestment, everybody agrees interest rates have been too low too long,” he said in the late January interview. “The only thing he can do is allow the recession to come, get it over with, liquidate the debt. Politically, nobody wants that, so you’re going to see runaway inflation before you see this country wake up.”

Over the past decade, the U.S. economy has grown at an average rate of just 1.33 percent, and there is no possible way to put a positive spin on that.

And now the economy appears to be entering a fresh slowdown.  A couple of months ago, banking giant UBS warned about “a sudden slowdown in new credit”

There’s been a sudden slowdown in new credit extended to businesses over the last year, one that strategists at UBS are calling “drastic” and “highly uncommon outside of economic downturns.”

And since that time, lending has tightened up even more.  The following comes from Zero Hedge

According to the latest Fed data [7], the all-important C&I loan growth contraction has not only continued, but over the past two months, another 50% has been chopped off, and what in early March was a 4.0% annual growth [4]is now barely positive, down to just 2.0%, and set to turn negative in just a few weeks. This was the lowest growth rate since May 2011, right around the time the Fed was about to launch QE2.

At the same time, total loan growth has likewise continued to decline, and as of the second week of May was down to 3.8%, the weakest overall loan creation in three years.

This is exactly what we would expect to see if we were entering a new recession.  Neil Howe, one of the authors of The Fourth Turning, recently warned that “winter is coming” and I have to admit that I agree with him.

So when the stock market finally crashes, how bad could it be?

Well, one analyst that spoke to CNBC said that other historic market crashes have averaged “about 42 percent”…

“If you look at the market historically, we have had, on average, a crash about every eight to 10 years, and essentially the average loss is about 42 percent,” said Kendrick Wakeman, CEO of financial technology and investment analytics firm FinMason.

And as I have explained many times in the past, stocks would have to fall about 40 to 50 percent from current levels just for the stock market to get back to “normal” again.  The valuations that we are seeing today are absolutely insane, and there is no possible way that they are sustainable.

When the crash happens, many people will be pointing their fingers at Trump, but it won’t be his fault.

Instead, it will be the Federal Reserve that will be at fault, and hopefully this coming crisis will convince the American people that it is time to end this insidious debt-based central bank for good.

Free Money: Potential Presidential Candidate Mark Zuckerberg Suggests That All Americans Should Get A ‘Universal Basic Income’

Should everyone in America receive a “basic income” directly from the federal government?  Considering the fact that we are already 20 trillion dollars in debt, such a concept may sound quite foolish to many of you, but this is an idea that is really starting to gain traction in leftist circles.  In fact, Facebook CEO Mark Zuckerberg suggested that this was something that we should “explore” during the commencement speech that he just delivered at Harvard.  For quite a while it has been obvious that Zuckerberg is very strongly considering a run for the presidency in 2020, but up until just recently we haven’t had many clues about where he would stand on particular issues.  If he is serious about proposing a universal basic income for all Americans, that would make Zuckerberg very appealing to the far left voters that flocked to the Bernie Sanders campaign.

Yesterday, I discussed the fact that the number of Americans that are receiving money from the government each month has reached an all-time high, but Zuckerberg would take things much farther.  According to Zuckerberg, society would be far better off if everyone got an income from the government

“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said during his speech. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.”

Zuckerberg said that, because he knew he had a safety net if projects like Facebook had failed, he was confident enough to continue on without fear of failing. Others, he said, such as children who need to support households instead of poking away on computers learning how to code, don’t have the foundation Zuckerberg had. Universal basic income would provide that sort of cushion, Zuckerberg argued.

Such a proposal is going to look really good to a lot of people at first glance.

But who is going to pay for this?

Of course the truth is that the money for the people that are not working would come from taxing the people that are working.

I don’t think that Zuckerberg has really thought this through.  Are young people going to have an incentive to work if they can just stay home and watch movies and play video games all day while collecting their “universal basic incomes” from the government?

And why would anyone want to bust their rear ends working for a living when their incomes are just going to be taxed extremely heavily to pay for all the people that aren’t working?

We are already 20 trillion dollars in debt, but politicians on the left just want to keep giving even more free stuff to people.  During his presidential campaign, Bernie Sanders suggested that everyone in America “deserves a minimum standard of living” and that every citizen is “entitled” to universal health care, free college education and basic housing…

So long as you have Republicans in control of the House and the Senate, and so long as you have a Congress dominated by big money, I can guarantee you that the discussion about universal basic income is going to go nowhere in a hurry. But, if we can develop a strong grassroots movement which says that every man, woman and child in this country is entitled to a minimum standard of living — is entitled to health care, is entitled to education, is entitled to housing — then we can succeed. We are living in the richest country in the history of the world, yet we have the highest rate of childhood poverty of almost any major country and millions of people are struggling to put food on the table. It is my absolute conviction that everyone in this country deserves a minimum standard of living and we’ve got to go forward in the fight to make that happen.

In previous generations, very few people would have ever taken someone like Bernie Sanders seriously.

But in our day and time socialism is really starting to catch on.  In fact, one survey found “that four out of every ten adults say they prefer socialism to capitalism”

The American Culture and Faith Institute recently conducted a survey of adults 18 and older. It shows not only how deeply divided Americans are on some issues but also how their view of the nation stands in many cases in stark contrast to our nation’s founding principles. Most Americans (58 percent) see themselves as politically moderate, while a quarter identify as conservative, and 17 percent as liberal. Those who were both socially and fiscally conservative, the group tracked by the ACFI in greatest detail, were 6 percent of the population.

But those differences don’t reveal the greatest divide and danger to America’s future. “The most alarming result, according to [George] Barna, was that four out of every ten adults say they prefer socialism to capitalism,” the ACFI noted in its commentary on the poll. “That is a large minority,” Barna said, “and it includes a majority of the liberals — who will be pushing for a completely different economic model to dominate our nation. That is the stuff of civil wars. It ought to set off alarm bells among more traditionally-oriented leaders across the nation.’” That 40 percent of Americans now prefer socialism to capitalism could spell major change to the policies advanced by legislators and political leaders and to the interpretations of judges ruling on the application of new and pre-existing laws.

And as I noted yesterday, Millennials are particularly attracted to socialism.  This could have dramatic implications for our society as older generations of Americans slowly die off.

Unfortunately, there is just one huge problem with socialism.

It doesn’t work.

If you want to see the end result of socialism, just move to Venezuela or North Korea for a while.

In socialist nations, there is very little incentive to work hard.  Instead, people tend to become very lazy and expect the government to provide everything that they need.

When people work hard and are productive, the overall wealth of a society goes up.  And when people sit around and wait for someone else to provide for them, the overall wealth of a society goes down.

Would Mark Zuckerberg have worked so hard to develop Facebook if he knew that the government would just come in and take most of the money away so that others could have a “universal basic income”?

Yes, we want to do all that we can to reduce poverty and to build a strong, vibrant middle class.

But socialism is not the answer and it never will be.

Handout Nation: Combined Enrollment In America’s 4 Largest Safety Net Programs Hits A Record High Of 236 Million

Margaret Thatcher once said that the problem with socialism “is that eventually you run out of other people’s money”.  As you will see below, the combined enrollment in America’s four largest safety net programs has reached a staggering 236 million.  Of course that doesn’t mean that 236 million people are getting benefits from the government each month because there is overlap between the various programs.  For example, many Americans that are on Medicaid are also on food stamps, and many Americans that are on Medicare are also on Social Security.  But even accounting for that, most experts estimate that the number of Americans that are dependent on the federal government month after month is well over 100 million.  And now that so many people are addicted to government handouts, can we ever return to a culture of independence and self-sufficiency?

On Wednesday, CNN ran an editorial by Bernie Sanders in which he called President Trump’s proposed budget “immoral” because it would cut funding for government aid programs.

But is it moral to steal more than a hundred million dollars from future generations of Americans every single hour of every single day to pay for these programs?

Of course the answer to that question is quite obvious.

There will always be some Americans that are unable to take care of themselves, and we should want to help them.

But as millions upon millions of Americans continue to jump on to the safety net, eventually we are going to get to the point where it is going to break.

As I mentioned above, the combined enrollment in the four largest safety net programs has reached a new all-time record high…

More than 74 million Americans are on Medicaid and CHIP (Children’s Health Insurance Program).

More than  58 million Americans are on Medicare.

More than 60 million Americans are on Social Security.

Approximately 44 million Americans are on food stamps.  And even though we are supposedly in an “economic recovery”, this number is still dramatically higher than the 26 million Americans that were on food stamps prior to the last financial crisis.

When you add the figures for those four programs together, you get a grand total of 236 million, and that doesn’t even count any of the other federal programs which are helping people.

Once again, there is overlap in enrollment between these various programs, but even accounting for that most experts believe that well over a third of the country is currently receiving benefits from the government each month.

How far down this road do we have to go before people start calling it “socialism”?

As I was writing this, I was reminded of one of Benjamin Franklin’s most famous quotes

“When the people find that they can vote themselves money that will herald the end of the republic.”

In our country today, many politicians have discovered that one of the best ways to win elections is to promise the voters as much free stuff as possible.  This is one of the primary reasons why Bernie Sanders did so well.  Young people loved his socialist policies, and he received more votes from Millennials in the primaries and caucuses than Donald Trump and Hillary Clinton combined.

As older generations of Americans continue to die off, the Millennials will just become even more powerful politically.  And considering the fact that they are far more liberal than other generations, that is a very alarming prospect…

In the minds of 80 percent of baby boomers and 91 percent of elderly Americans, communism was a major problem in years past and remains a significant concern today. But millennials, aged 16 to 20 years, see it differently. Only 55 percent of the younger generation take issue with communism, 45 percent say they would vote for a socialist and 21 percent say they’d vote for a communist.

And millennials made all that clear during the Democratic presidential primary, when many of them cast their vote for Vermont Sen. Bernie Sanders, a self-avowed socialist. In fact, the report credits the New England lawmaker with a “bounce” that led to less than half of millennials — 42 percent — having a favorable view of capitalism.

At this point, the Republic that our founders established is barely recognizable, and if it is going to be saved we need a conservative revolution as soon as possible.

A good place to begin would be to dramatically reduce the size and scope of the federal government, and there are some promising signs in the budget that President Trump has proposed.  He wants to completely eliminate 66 federal programs, and liberals are screaming bloody murder over this.

Of course Trump’s budget is “dead on arrival” in Congress because many among his own party do not support him.  Most Republicans campaign as conservatives but govern like Democrats, and it is high time that we held them accountable for that.  In 2018 we are going get Trump a whole bunch of friends in Congress, and a lot of those establishment Republicans that have been betraying conservatives for years are going to have to find a new line of work.

We simply cannot afford to keep sending the same cast of characters back to Washington time after time.  Just look at the debacle that the effort to repeal Obamacare has become.  According to Senate Majority Leader Mitch McConnell, getting any sort of bill through the Senate is going to be extremely challenging

Referring to behind-the-scenes work among Senate Republicans on a healthcare bill, McConnell said, “I don’t know how we get to 50 (votes) at the moment. But that’s the goal.”

Under a scenario of gathering the votes needed for passage in the 100-seat chamber, Republican Vice President Mike Pence would be called upon to cast any potential tie-breaking Senate vote.

McConnell opened the interview by saying, “There’s not a whole lot of news to be made on healthcare.” He declined to provide any timetable for producing even a draft bill to show to rank-and-file Republican senators and gauge their support.

And yet somehow when Obama was in office the Republicans in the House and the Senate were able to easily pass a bill to repeal Obamacare and get it to Obama’s desk.

Why can’t they get that exact same bill to Trump’s desk?

We definitely need to “drain the swamp” in D.C., and we can start with Congress.

But the alliance between big money and big government is going to be hard to defeat, and so if we want our country back we are going to have to fight harder than we have ever fought before.

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