Showing posts with label national debt. Show all posts
Showing posts with label national debt. Show all posts

Sunday, February 16, 2014

The debt ceiling: We were tricked, y’all!

The Daily Haymaker, by Brant Clifton, 
American Hustle is not just lighting up the movie screens.  It’s playing out on Capitol Hill as well.
Following last week’s disgraceful surrender by House Republicans on the debt ceiling, we got all kinds of stories about how Howard Coble was the only NCGOPer to vote for Boehner’s bill.  Actually, it appears that most Republicans voted to allow others to raise the debt limit, and then turned around and voted against the debt ceiling increase.  Like John Kerry, they were FOR it, before they were AGAINST it. 

How did this all go down? Pull up a chair.  Class is in session.

READ THE ARTICLE!

Saturday, February 15, 2014

Obama faces budget dilemma

The Hill, By Erik Wasson, February 15, 2014

President Obama is facing a deepening dilemma about whether to abandon cuts to Social Security in his next fiscal blueprint, which is due out in March.

Obama touched the third rail of American politics last year when he proposed a new formula for Social Security and other entitlements that would result in benefits being cut over time.
Now congressional Democrats and unions are ramping up their pressure on Obama to drop the proposal, which many fear could become an albatross for the party in the midterm elections.


Monday, January 6, 2014

The Heritage Foundation: The National Debt in One Picture

01/06/2014

Congress is beginning its new year with a budget deal that busts right through "caps" it was supposed to have on spending. At Heritage, we want to hold Congress accountable for its tax-and-spend ways, even as Members claim there's no room to cut.

A good place to start is understanding the mountain of debt Americans are already under. Check out and share our infographic that puts it in perspective.


Wednesday, October 16, 2013

The Tea Party is Both Sensible and Victorious

GREAT ARTICLE WELL WORTH THE READ!


by KEITH KOFFLER on OCTOBER 16, 2013


I realize that sounds quite delusional to many people, particularly here in Washington. But it makes total, absolute sense.

The muttering class Inside the Beltway is very pleased with itself: The doomed Tea Party strategy is foundering on the shoals of idiocy, just like they said it would. The Republican “brand” has been downgraded yet again. America is looks foolish abroad: “The world has reacted mostly with disbelief that a superpower could fall into such dysfunction,” wrote the New York Times today. Reasonable people will soon be back in charge so they can do reasonable things in a reasonable way without all these Tea Party lunatics stirring up trouble.

Let me tell all of you something:

THIS COUNTRY IS ALREADY IN A STATE OF TOTAL DYSFUNCTION, AND HAS BEEN FOR YEARS.

A state of dysfunction, mind you, brought to you by the “reasonable” people who have been striking deals for years that have created $17 trillion in debt and a possibly irreversible degree of Socialism that is lobotomizing our tradition of independent thinking and creativity, crippling free enterprise, and carving the soul out of the moral, God-fearing ethic that has made this nation the greatest on earth.

Thursday, October 10, 2013

Why Obama Won’t Negotiate

It’s no secret that I believe this is the most evil (and yes, I do mean “evil”) administration in the history of the United States.  Unless you live without the benefit of any news sources, you should have heard by now that the man presently occupying the White House is refusing to negotiate with Congress.  Some have commented that he is behaving childishly, some say he is an incompetent leader, and others have commented that he is playing some kind of high stakes chess game.  I believe all of these observations are incorrect.

Since his election in 2008, this man has done everything within his power to destroy this country– and he has lied with a straight face as he looked directly into the cameras without so much as a flinch, which is evil in-and-of-itself. He has tried to disarm us in every possible way – including sending firearms to Mexican drug lords.  He has fought the Keystone Pipeline for no discernible reason and kept us dependent on foreign oil, continually enriching those who hate us. He has closed deep water drilling wherever possible on the grounds of environmental protection but he sent $2 billion to Brazil for offshore drilling. He has used the tragedy of the children of Sandy Hook to infringe upon our right to bear arms – although he had voted while a senator in Illinois to have babies born alive after botched abortions to be discarded like trash. He forced healthcare upon us under the protest of the American people – knowing full well that it would escalate our financial woes. He has opened our borders without any concern about what it is doing to our economy or if it is allowing terrorists entre in the process. He has attempted to common gear our education system with untested standards that glorify Islam and dumb down  our children by offering money to the states while knowing it will cost the states exponentially more than they are being funded.  He has fanned the flames of racial division. He has consistently backed Islamic uprisings in countries where the Muslim Brotherhood is strong.  He is directly responsible for the deaths of our ambassador and 3 brave heroes for giving the order for help to stand down – while he continued on to a fundraising event. He has tried to destroy our farming industry with his Rural Council that would have made farming in this country unfeasible. He has closed our military commissaries to inflict harm on our real patriots but kept the White House kitchen fully staffed. He has slashed military spending while sending 16 F-16 fighter jets to the Muslim Brotherhood in Egypt at a cost of over $1 billion. And he has gone as far as to try to close privately held parks, which have nothing to do with the treasury.  Keep in mind, these are only the things I can think of off the top of my head.


CONTINUE READING:  http://mychal-massie.com/premium/why-obama-wont-negotiate/

Sunday, June 30, 2013

THE OBAMA ERA--Interesting Statistics!

Proud moment here for all socialists...








proud moment if you’re a socialist


why work when its free.

 
 
 
 socialism on the rise.......


& yet government expanded. Of course..... it takes more idiots to do the work of 1

who is going to pay for the food stamps, health care, illegal immigrants, and the rest of the free stuff ?


HOW CAN YOU HELP?


Share these statistics with at least two other people. 100 would be even better.

Thursday, June 14, 2012

LEGISLATIVE UPDATE JUNE 11, 2012

Federal Budget, Spending & Taxes


  • No Budget: Tuesday, June 12 marks the 1140th day since the Senate has passed a budget under the leadership of Harry Reid (D-NV).
  • Difference in Debt: Some of you may have noticed the media claiming that the CBO recently said that our federal debt would reach 70% of GDP sometime this year. But those of us paying attention noted that our debt passed 100% of GDP in December of 2011. So why the difference? The CBO is NOT counting intragovernmental debt. There is publicly held debt (debt held by bondholders, etc.) and debt held by government agencies. The CBO’s numbers only reflect the debt held by the public – they do not account for the debt held by the government! But it’s all debt that we are responsible for paying back, so the accurate number is the one that shows the debt exceeding 100% of GDP.
  • Blame Game: The Democrats are now trying to say that the Republicans and the Tea Party have sabotaged the economy in order to win an election. This will be the new narrative for a while, so think about how you would like address it and respond to it.
  • Meaning of Austerity: Watch this video of Veronique de Rugy discussing the different types of austerity. Also read her article about how European fiscal austerity doesn’t mean spending cuts.  And don’t forget to read the report by Harvard academics about how cutting spending and raising taxes has a historically bad track record, & how spending cuts only are the way to go.
  • Tripled: Also in that CBO report was the fact that the debt is on track to TRIPLE in one generation! Now, remember they only looked at publicly held debt, so you can imagine how much worse it really is when we take into account the intragovernmental debt.
Regulations and Jobs


  • REIN-ing in the Regulators:  Last December the House passed the REINS Act, which would have required Congress to vote “on a resolution of approval concerning every “major” regulation (with an economic impact of $100 million or more).” The Senate, of course, is useless when it comes to doing anything. Obama has threatened to veto the REINS Act should it reach his desk. This could be a great campaign issue in 2012 – ask your candidates about where they stand on it. Read more about the REINS Act here.
  • Not Hiring:  Read about the personal stories of business owners who are afraid to start hiring again because of the regulatory adventurism of this administration, and the uncertainty of future tax rates.
  • 3 Lies:  Read about the three lies of government statistics on unemployment - Remember this when you hear Obama’s Department of Labor crowing over some less-than-stellar unemployment numbers. And be sure to pass this on to anyone who you talk to that thinks the numbers are looking good. Apparently some people think that adding 69,000 jobs in one month is pretty darn impressive.
    Horrible Recovery:  In light of Obama’s comment about the private sector “doing fine,” check out this graph from the RSC to see how “fine” the private sector is really doing. Hint: waaaaaaaaaaay below average.
Obamacare

Thank you to the Alexandria Tea Party for collecting these links.

Property Rights & Sustainability



Illegal Immigration


House of Representatives



Weekly summary and look-ahead provided by the RSC. Posting information from the RSC does not imply TPP endorsement of the RSC.


Weekly Wrap Up


  • Partial Obamacare Repeal Last Thursday, the House approved H.R. 436, the Health Care Cost Reduction Act, by a vote of 270-146. The legislation combines four bipartisan bills that would remove harmful limitations put in place by Obamacare. This will result in saving up to 47,000 jobs, supporting medical innovation, reducing health care costs, and providing Americanfamilies more choice and flexibility. The bill repeals the 2.3 percent excise tax on medical devices scheduled to take place in 2013; repeals the limitation on reimbursement of the over-the-counter medications from health savings account (HSA), flexible spending arrangement (FSA), health reimbursement arrangement (HRA), or medical savings accounts (MSA) that took effect in 2011; and allows 33 million consumers of health FSAs to “cash out” unused funds (capped at $500) at the end of the year. Finally, the bill eliminates exchange subsidy overpayments (the subsidies—refundable tax credits—are determined based on the most recent tax return, thus an overpayment could occur when actual incomes exceed subsidy eligibility thresholds). The Congressional Budget Office estimates that H.R. 436 reduces the deficit by $6.7 billion over the 2013-2022 period. Conservatives remain committed to the full and total repeal of Obamacare, especially in light of the looming Supreme Court decision. Many conservatives worry that partial repeal and “fix-it” bills will divide and distract the coalition for repealing Obamacare and restarting on conservative health care reform.
  • Transportation Spending – Last week, conservatives used a procedural vote called a “motion to instruct conferees” to force a debate and vote on transportation spending. These motions are used to send a message to the conference committee—this time on the highway bill—regarding the prerogatives of one chamber of Congress. Although not binding, conservatives hope that these motions will highlight conservative priorities on transportation The first motion, offered by Rep. Jeff Flake (AZ), stipulates that states must receive back from the federal government at least 95% of the revenue they pay into the Highway Trust Fund. Under the current system, some states are unfairly rewarded at the expense of other states. The motion passed 259-154. The second motion, offered by Rep. Paul Broun (GA), states that federal highway spending cannot exceed the user fee revenues of the Highway Trust Fund. Currently, highway spending exceeds the revenues of the trust fund and borrows from the general fund. Conservatives have long argued that federal highway spending should not spend money that does not come from the Highway Trust Fund. Unfortunately, this motion was rejected82-323.
NOTE: 145 Republicans voted AGAINST this bill that would have forced federal highway spending to operate within the existing revenue. See the votes here, meaning they voted FOR irresponsibility and higher spending - even when the money isn't there.


  • Energy and Water Appropriations Last Wednesday, the House approved H.R. 5325, the Energy and Water Appropriations Act of 2013, by a vote of 255-165. The bill provides a total of $32.09 billion in non-emergency, discretionary budget authority for the agencies and programs funded through the Energy and Water Development Appropriations bill. Budget authority in the bill is a reduction of $965 million, or 3 percent below, the spending level requested by the President for FY 2013. Unfortunately, the bill is also $87 million, or 0.2 percent, above the FY 2012 funding level.
The following amendments to the Energy & Water Appropriations bill should be of interest to conservatives.


o McClintock (R-CA) – Cuts the Energy Efficiency and Renewable Energy program by $1.45 billion. Rejected 113-275.
o Chaffetz (R-UT) – Cuts the Advanced Manufacturing Program by $74 million, to FY 2011 levels. Rejected 140-245.
o Broun (R-GA) – Cuts the Energy Efficiency and Renewable Energy program by $335 million. Rejected on voice vote.
o McClintock (R-CA) – Eliminates nuclear energy research subsidies (saves $514 million). Rejected 106-281.
o Connolly (D-VA) – Eliminates oil shale research and development subsidies (saves $25 million). Passed 208-207-1.
o Chabot (R-OH) – Eliminates funding for the regional commissions, such as the Appalachian Regional Commission (saves $99.3 million). Rejected 141-276.
o Kucinich (D-OH) – Prohibits funding for loan guarantees under Title 17 of the Energy Policy Act of 2005 (this is the program that funded Solyndra). Rejected 136-282.
o Blackburn (R-TN) – 1% across the board cut to discretionary spending (would cut $321 million). Rejected 157-261.
o Mulvaney (R-SC) – Would bring the bill toward RSC budget levels by cutting $3.1 billion. Rejected 125-293.
o King (R-IA) – Prohibits funding of Davis-Bacon union wage requirements. Rejected 184-235.
o Jordan (R-OH) – Prohibits loan guarantees for renewable energy systems, electric power transmission systems, or leading edge biofuel projects—aka Solyndra. Passed by voice vote.
o Landry (R-LA) – Prohibits funds being used for a national media campaign on green technologies. Passed by voice vote.
o Schweikert (R-AZ) – Prohibits funds being used to enforce federal shower head regulations. Passed by voice vote.
o Flake (R-AZ) – Across the board spending cut that would keep funding at FY 2012 levels ($87.5 million savings). Rejected 144-274.

  • Homeland Security Appropriations — Thursday, the House approved H.R. 5855, the Department of Homeland Security Appropriations Act of 2013, by a vote of 234-182. The bill provides $39.1 billion in discretionary budget authority for programs funded through the Department of Homeland Security (DHS) for Fiscal Year 2013. Unlike previous years, funding for the Coast Guard’s support of the Global War on Terror/Overseas Contingency Operations are not included in the bill and are instead provided via transfer of $254 million from Department of Defense, Navy, Operations & Maintenance. Discretionary budget authority in the bill is $484 million, or 1.2 percent, less than last year and $393 million, or 1 percent, below the President’s request.
The following amendments to the Homeland Security Appropriations bill should be of interest to conservatives.


o Broun (R-GA) – Reduces administrative expense accouns by 3% (saves $500,000). Rejected 140-273.
o Broun (R-GA) – Eliminates all funding for TSA (saves $5.041 billion). Rejected by voice vote.
o Flake (R-AZ) – Cuts $412.9 million from FEMA state and local programs (a reduction to FY 2012 levels). Rejected by voice vote.
o Black (R-TN) – Prohibits funding for the position of Public Advocate within Immigration and Customs Enforcement. Passed by voice vote.
o King (R-IA) – Prohibits funding to enforce an executive order which mandates the Department of Homeland Security to use languages other than English. Passed 224-189.
o King (R-IA) – Prohibits funding to enforce “Morton Memos” concerning administrative amnesty. Passed 238-175.
o Blackburn (R-TN) – Prohibits funding to provide TSA employees badges, shields, or uniforms with epaulets or a badge tab. Rejected 131-282.
o Blackburn (R-TN) – Prohibits funding for TSA employees outside of airports. Rejected 204-210.
o Sullivan (R-OK) – Prohibits funds from being used to prevent state and local law enforcement from enforcing immigration laws. Passed 250-164.
o Barletta (R-PA) – Prohibits funding for sanctuary cities. Passed by voice vote.
o Polis (D-CO) – 2% across the board cut to the bill. Rejected 99-316.

  • Legislative Branch Appropriations — Friday, the House approved H.R. 5882, the Legislative Branch Appropriations Act of FY 2013, by a vote of 307-102. The bill provides a total of $3.33 billion in discretionary budget authority for all non-Senate Legislative Branch activities, which is $34 million, or 1 percent, below last year’s levels and $189 million, or 5.4 percent, below the President’s requested level. The House and Senate traditionally determine their own funding separately and concur with each other’s bill in a conference committee. According to House Report 112-511, which accompanies the legislation, the Senate appropriations estimate is $956.1 million. When House and Senate appropriations are combined, total Legislative Branch funding would be $4.28 billion. According to the Appropriations Committee, since Fiscal Year 2010, the spending overseen by the Legislative Branch Subcommittee has been cut by 10.5 percent.
The following amendments to the Legislative Branch Appropriations bill should be of interest to conservatives.

o Gosar (R-AZ) – Reduces funding for the U.S. Botanic Garden to FY 2009 levels (saves $1.235 million). Passed 213-193.
o Broun (R-GA) – Reduces funding for the Congressional Research Services to FY 2012 levels (saves $878,000). Passed 214-189.

o Scalise (R-LA) – Eliminates all funding for the Open World Leadership Center Trust Fund (saves $1 million). Passed 204-203.
o Moran (D-VA) – Prohibits House food service facilities from buying Styrofoam. Rejected 178-229.
o Flake (R-AZ) – Prohibits Members of Congress from using official funds to buy advertisements on non-official sites (like Facebook, etc.). Rejected 148-261.

Check out these weekly updates from caucuses, task forces, working groups, and special projects of the RSC!


The Week Ahead

The House is in recess this week.
 
Senate


  • The Senate resumes consideration of the motion to proceed to a five-year farm bill, although amendment votes are not expected before Tuesday.
  • The first vote of the week will be in connection with the confirmation of Andrew D. Hurwitz for the 9th U.S. Circuit Court of Appeals.
  • Two Senate Appropriations subcommittees — Labor-HHS-Education and Financial Services— mark up their draft fiscal 2013 spending bills. Later in the week, the full Appropriations panel is expected to consider both measures.
  • Environment and Public Works holds a confirmation hearing on two Nuclear Regulatory Commission nominations: Allison M. Macfarlane, who has been tapped to replace Chairman Gregory B. Jaczko, and incumbent Commissioner Kristine L. Svinicki.
  • MONDAY: Convenes 2 p.m., Roll call votes expected S 3240 — Farm bill and Nomination — Andrew D. Hurwitz for a judgeship on the 9th U.S. Circuit Court of Appeals
TUESDAY AND THE BALANCE OF THE WEEK:
S 3240 — Farm bill

Friday, February 3, 2012

A Message from NC Congressman Walter Jones

FYI!

February 3, 2012

Dear Fellow Eastern North Carolinian,


This is a critical time for Eastern North Carolina, our nation, and our armed forces. As we begin this new session of the 112th Congress, I wanted to quickly brief you on what President Barack Obama is proposing, why I think he is badly off the mark, and ways that I believe we can responsibly address the deficit while still preserving and modernizing our military strength.

I don’t need to remind you that America is $15 trillion in debt and running annual deficits of over $1 trillion. Last week the Obama Administration rolled out a new budget proposal to cut military spending by $487 billion over 10 years. Meanwhile, last year’s compromise bill to raise the debt ceiling – which I strongly opposed and voted against – requires an additional $500 billion in military “sequestration” cuts over 10 years starting in 2013.

While there is no doubt that there are billions of dollars of wasteful spending in the Defense Department (DOD), and that taxpayers’ money must be spent much more efficiently, I oppose both the President’s defense cut proposal and the ‘military’ sequestration cuts, and I’d like you to know the reasons why.

I make no apologies for being a leader in the fight to cut wasteful federal spending and eliminate the debt. Among other things, I have been a champion of and always voted for a Balanced Budget Amendment to the Constitution; I voted against the President’s $1 trillion ‘stimulus’; I voted against the bailouts for Wall Street and Detroit; I voted against every foreign aid bill in the last 16 years; I was one of only 8 members to vote against the pork-filled Highway Bill that included the infamous “Bridge to Nowhere”; I voted against Obamacare; and I am proud to be the only member of the House of Representatives to have voted against every single increase in the debt limit in the past 8 years.

Going forward, I believe there are many steps we should be taking to eradicate deficit spending and the debt. Those steps include eliminating foreign aid, the Department of Education, the National Endowment for the Arts, and the taxpayer bailouts of Fannie Mae, Freddie Mac and profligate European governments; repealing Obamacare; and downsizing many other federal agencies. But attempting to balance the budget through devastating, disproportionate cuts to our military is not the way to go.

Before the Obama Administration even thinks about proposing to take jobs, services and benefits away from our troops and veterans, or about slashing crucial programs like the F-35B fighter jet – two cost reduction proposals which I have strongly opposed throughout my career in Congress – they need to eliminate the waste, fraud and abuse of taxpayer dollars in the Pentagon.

For instance, did you know that DOD has never audited its own books even though it was statutorily required to do so over 20 years ago? As a result, a recent DOD Inspector General (IG) report demonstrated that wasteful spending at the Pentagon is out of control. In some cases taxpayers are paying nearly $1700 for items that cost $7. That’s ridiculous! Finalizing the audit of DOD and reforming the defense procurement process to cut wasteful spending and give taxpayers more bang for their buck should be this Administration’s top priority – reducing pay, benefits and services for our troops and veterans and making major cuts to the F-35B should be off the table.

I also oppose the Administration’s request for another round of domestic military base closures (BRAC). Amazingly, right now, President Obama is opening a new base in Australia and increasing our military presence in the Philippines – while at the same time threatening to close bases in the United States. The fact is that DOD already has 622 overseas sites. Before anyone talks about closing bases here at home, we need to evaluate and eliminate any overseas sites that are no longer in our national security interest.

Finally, it is no secret that I disagree with President Obama’s decision to keep our troops in Afghanistan through 2014. America is borrowing $10 billion a month from the Chinese and other foreigners – over $120 billion a year – and then sending that money back overseas to spend on that operation. At a time when this nation is over $15 trillion in debt, we simply can’t afford it. The reality is that if the President weren’t spending that money in Afghanistan, military spending reductions of any kind would be much, much less necessary.

Since being elected to Congress in 1994, I have taken my responsibility to represent Eastern North Carolina’s values seriously. As one of the most senior members of the House Armed Services Committee, I fully understand how critical our military facilities are to our economy and way of life. During the last BRAC round in 2005, I was able to use that seniority to successfully protect Camp Lejeune Marine Base, Cherry Point Marine Air Station, the Naval Air Depot at Cherry Point (NADEP) and Seymour Johnson Air Force Base. And with this seniority I will have significant input into how the recent defense cut proposals play out. Please rest assured that I will use my position to continue to do everything in my power to fight for Eastern North Carolina’s military installations and for the courageous men and women – past, present and future – who protect our freedom.

Please know that I will never forget what an honor it is to represent you. If I can be of service to you and your family, please don’t hesitate to contact me at any time. Thanks for all you do to make America the greatest nation the world has ever known.

Sincerely,
Walter B. Jones
Member of Congress (NC-03)

Monday, January 30, 2012

America Then and Now – Obama Policies Have Put America at Risk

In 1980, President Ronald Reagan asked the American people if they were better off after nearly four years of President Jimmy Carter. The answer was an obvious NO! If you listen to President Obama you might think all is well in America. We all know better. The chart below shows just how bad things are. I encourage you to review and share with others.


Thanks,
Walter Jones



America Then and Now – Obama Policies Have Put America at Risk

America Before President Obama Took Office and Now


                                               Before               Now               Change

Number of Unemployed1        12.0 Million      13.1 Million          +9%
Long-Term Unemployed2         2.7 Million        5.6 Million       +107%
Unemployment Rate3                   7.8%               8.5%                +9%
“High Unemployment” States4      22                    43                  +95%
Misery Index5                             7.83               11.46                 +46%
Price of Gas6                            $1.85               $3.39                 +83%
“Typical” Monthly Family
    Food Cost7                          $974                $1,013               +4%
Median Value of Single-Family
    Home8                               $196,600           $169,100            -14%
Rate of Mortgage
       Delinquencies9                  6.62%               10.23%             +55%
U.S. National Debt10          $10.6 Trillion      $15.2 Trillion         +43%


1 Number of unemployed in January 2009 and December 2011. http://www.bls.gov/data/#unemployment.
2 “Long-term unemployed” means for over 26 weeks; data for January 2009 and December 2011. http://www.bls.gov/data/#unemployment.
3 Unemployment rates in January 2009 and December 2011. http://www.bls.gov/data/#unemployment.
4 “High unemployment” means having a 3-month average unemployment rate of 6% or higher. From the Bureau of Labor Statistics’ “Extended Benefits Trigger Notice” for January 18, 2009 and January 22, 2012. http://www.ows.doleta.gov/unemploy/trigger/2009/trig_011809.html  and http://ows.doleta.gov/unemploy/euc_trigger/2012/euc_012212.html.
5 The “Misery Index” equals unemployment plus inflation. For January 2009 and December 2012. http://www.miseryindex.us/indexbymonth.asp.
6 Average retail price per gallon, January 2009 week 3 and January 2012 week 4. http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W.
7 U.S. Department of Agriculture, values represent monthly “moderate” cost per family of four for January 2009 and November 2011. http://www.cnpp.usda.gov/USDAFoodCost-Home.htm.
8 U.S. median sales price of existing single-family homes for metropolitan areas for 2008 and 2011 Q3. http://www.realtor.org/research/research/metroprice.
9 Residential mortgage delinquencies (real estate loans) for 2008 Q4 and 2011 Q3. http://www.federalreserve.gov/releases/chargeoff/default.htm.

10 Values for January 21, 2009 and January 23, 2012. http://www.treasurydirect.gov/NP/BPDLogin?application=np.

Monday, January 23, 2012

The welfare state is destroying America

First of a five-part series.

President Franklin D. Roosevelt signed the Social Security Act into law on Aug. 14, 1935, laying what he described as a "cornerstone" of the modern welfare state.


At the time, Roosevelt claimed that the sweeping program would, "act as a protection to future administrations against the necessity of going deeply into debt to furnish relief to the needy."

He was right about the "cornerstone" part, as both parties built on the program in the decades that followed. In 1965, President Lyndon Johnson brought us Medicare and Medicaid.

In 2003, President George W. Bush and a Republican Congress added prescription drug coverage for seniors. And just last year, President Obama pushed a national health care law through Congress.

But Roosevelt was dead wrong that the program would help the nation avoid deep debt. Social Security and the entitlement programs that followed its legacy of seeking to protect citizens from the "hazards and vicissitudes of life," turned out to be fiscal disasters.

With health care costs rising and the population aging, America's welfare-state obligations are bringing the country to its financial knees. If left unchecked, the growing debt burden will not only trigger runaway inflation and stifling taxes, but it will also threaten national security.

Spending on Social Security, Medicare, Medicaid and Obamacare alone currently account for 46 percent -- or nearly half of -- federal spending, excluding interest payments. Over the next 25 years, that percentage will explode to 66 percent, or close to two-thirds, according to the Congressional Budget Office..

Numbers associated with the nation's debt crisis are almost too staggering to comprehend. Last month, total U.S. debt surpassed $15 trillion. But a recent analysis by Boston University economics professor Laurence Kotlikoff found that when long-term entitlement obligations are considered, the true fiscal gap is $211 trillion.

CONTINUED:
http://washingtonexaminer.com/opinion/columnists/2012/01/welfare-state-destroying-america/2123391?utm_source=Washington%20Examiner%20Opinion%20Digest%20-%2001/23/2012&utm_medium=email&utm_campaign=Washington%20Examiner:%20Opinion%20Digest

Sunday, August 7, 2011

How the Recent Debt Ceiling Law Affects Gun Owners

Friday, 05 August 2011 11:26

Well, the hot debate which dominated the nation for several weeks has finally simmered down. The debt ceiling deal is now law, and both sides of the political aisle are arguing over who won and who lost.


But one thing you won’t hear about -- in fact, we may not fully know the answer for several months -- is how much gun owners lost in this recent deal.

To quote Kentucky Senator Rand Paul from earlier this week:

"The Super Committee [created by the new law] limits the constitutional check of the filibuster by expediting passage of bills with a simple majority. The Super Committee is not precluded from any issue [including gun control], therefore the filibuster could be rendered moot."

MORE:  http://gunowners.org/a08052011.htm

Saturday, August 6, 2011

Standard & Poor’s Downgrades U.S. Credit Rating for First Time in History

Sadly, the fears have been confirmed. Standard & Poor‘s has downgraded the United States’ credit rating for the first time in the history of the ratings.


According to AP, the credit rating agency says that it is cutting the country’s top AAA rating by one notch to AA+. On Friday evening S&P said that the debt bill recently passed by Congress was not enough to stabilize the nation’s debt crisis.
MORE:  http://www.theblaze.com/stories/standard-poors-downgrades-u-s-credit-rating-for-first-time-in-history/

Friday, August 5, 2011

Failing the Debt Quiz: "I Vote for the Lollipops Guy!"

Written by Chip Wood
August 5, 2011

A friend of mine was trying to explain to his children the significance of the debate going on over what to do about our national debt.


He showed them a clip of something you’ve probably seen: the National Debt Clock in New York City. On Monday, the National Debt Clock said our national debt was more than $14.4 trillion, and it said each family’s share of this monstrous total was $122,303.

Steve tried to explain the situation this way to his kids:  “Who would you vote for? Someone who promises to give you lollipops every day at school, even though he can’t afford them? Or someone who says he needs to take your desks away because we can’t afford to pay for them?”

His eight-year-old piped up, “I vote for the lollipops guy!”

And of course, that is the problem. Ever since Franklin Delano Roosevelt made the redistribution of wealth the official policy of the United States, a majority of our citizens have been voting for “the lollipops guy” a majority of the time. We’ve reached the shocking situation in which more of our citizens receive something from government than contribute to paying the bills.

CONTINUED:  http://www.thenewamerican.com/opinion/chip-wood/8475-a-lesson-in-debt-qi-vote-for-the-lollipops-guyq

Thursday, July 21, 2011

Randy's Right: 31 Foregone Facts Barack Obama Fans Should Ponder!

1. If a previous president had doubled the national debt which had taken more than two centuries to accumulate, in just one year, would you have approved?
2. If a previous president had then proposed to double the debt again within 10 years, would you have approved?
3. If a previous president would have spent nearly a trillion dollars in stimulus and guaranteed unemployment would not exceed 8%, would you have called him a liar?
4. If a previous president would have played golf for thirteen weekends in a row leaving it up to congressional leaders to deal with the greatest financial crisis since the great depression, would you have considered him disengaged and out of touch?
5. If a previous president had criticized a state law that he admitted to never even reading, would you have thought him an ignoramus?
6. If a previous president had passed an unconstitutional law that would have absorbed 1/6th of the America’s entire GDP, forced Americans to purchase a private product (in violation of the commerce clause), fined them if they didn’t, hired 16,000 new IRS agents to enforce it, and exempted 1400 organizations from having to abide by that new law, would you have thought him a mafia boss?
7. If a previous president joined the country of Mexico and sued a state in America to force that state to continue to allow illegal immigration, would you have questioned his patriotism and priorities and wonder who his allegiance was to?
8. If a previous president had pronounced Army Corpsman like you pronounce a dead corpse, would you have thought he was stupid?
9. If a previous president had put 87,000 people out of work by arbitrarily placing a moratorium on offshore oil drilling on companies that have one of the best safety records because one foreign company had an accident, would you have agreed?
10. If a previous president had used a forged document as the basis of the moratorium that would render 87,000 American workers unemployed would you have supported him?
11. If a previous president had been the first president to need a teleprompter to get through a press conference, would you have thought this is more proof of how inept he is on his own and that he’s really controlled by smarter people behind the scenes?
12. If a previous president had spent hundreds of thousands of dollars to take his wife to a play in NYC, would you have approved?
13. If a previous president had reduced your retirement plan holdings of GM stock by 90%, given the unions a majority stake in the car maker and shut down 789 perfectly profitable Chrysler dealerships because they were were owned by registered republicans, would you have approved?
14. If a previous president had made a joke at the expense of the Special Olympics, would you have approved?
15. If a previous president had given Gordon Brown a set of inexpensive and incorrectly formatted DVDs when Gordon Brown gave him a thoughtful and historically significant gift, would you have approved?
16. If a previous president had given the Queen of England an iPod containing audios of his speeches, would you have thought it a proud moment for America, or that a narcissist occupied the White House?
17. If a previous president had bowed to Kings of third world countries while on an apologetic tour, would you have approved?
18. If a previous president had visited Austria and made reference to the nonexistent “Austrian language,” would you have thought it a minor slip?
19. If a previous president had filled his cabinet and circle of advisers with people who don’t pay their own income taxes, would you have approved?
20. If a previous president had said there were 57 states in the United States, wouldn’t you have been shocked?
21. If a previous president would have flown all the way to Denmark to make a five minute speech about how the Olympics would benefit him walking out of his front door in his home town, would you not have thought him a conceited, egomaniac?
22. If a previous president had been so Spanish illiterate as to refer to “Cinco de Cuatro” in front of the Mexican ambassador when it was the fourth of May (Cuatro de Mayo), and continued to flub it when he tried again, would you have not been embarrassed?
23. If a previous president had burned 9,000 gallons of jet fuel to go plant a single tree on “Earth Day,” would you have concluded he’s a hypocrite?
24. If a previous presidents’ administration had okayed Air Force One flying low over millions of people followed by a jet fighter in downtown Manhattan that caused widespread panic, would you have thought him insensitive and clueless about what actually happened on 9/11?
25. If a previous president had created the position of 45 Czars who reported directly to him, bypassing the House and Senate and usurping the Constitution, would you have ever approved?
26. If a previous president had ordered the firing of the CEO of a major corporation, even though he had no constitutional authority to do so, would you have approved?
27. If a previous president had spent nearly $2 million dollars hiding his identity all the way back to his childhood, would you have been suspicious?
28. If a previous president had been raised a muslim, spent more time living abroad in Islamic countries than he did in the United States, hung out with terrorists, and attended a hate church for 20 years, would you have not thought him brainwashed?
29. If a previous president had received a Nobel Peace Prize for nothing more than out campaigning his competitors, would you have thought him the laughing stock of recipients?
30. If a previous president had ordered a botched illegal gun running operation that resulted in American arms winding up in the hands of foreign drug cartels who in turn murdered Americans, would he have not had blood on his hands and been ordered to resign?
31. If a previous president had released a fraudulent long form birth certificate and was factually proven ineligible to even be the president whether he was born on American soil or not, would you have not demanded impeachment?  (Editor's Note:  Obama is NOT and a natural-born citizen, as required by the Constitution, NO WAY-- NO HOW!)

In summary, when you ask Obama to “Barack Your World,” refer to this list and try not to hurl.
Until next time . . . Wake Up America!

Kevin A. Lehmann

http://www.teapartynation.com/profiles/blog/show?id=3355873%3ABlogPost%3A1123550&xgs=1&xg_source=msg_share_post

Friday, July 15, 2011

Dopey Deadlines & Deadbeat Democrats

By Alan Caruba, Tea Party Nation


Is Tim Geithner the most clueless Secretary of the Treasury this nation has ever had? Is he the Eddie Haskell of national debt, so eager to please Obama that he has been a party to driving it up by trillions since his master took the oath of office?

Now, we are all forced to witness the idiotic political machinations of the White House trying desperately to put off the greatest financial debacle to face the nation in its entire history. It’s so bad that Moody’s Investor service has the U.S. “under review” to take away our unparalleled triple-A rating.

What makes his August 2nd deadline to raise the debt ceiling particularly obscene is that it is the anniversary of the 1776 signing of the Declaration of Independence.

For you history buffs, August 2nd was also the date in 1934 that Adolf Hitler became the Fuhrer of Germany and the same day, five years later in 1939 that Albert Einstein and Leo Szilard wrote a letter to Franklin D. Roosevelt urging him to begin developing an atomic bomb.

It makes you wonder if history isn’t just a record of wars won and lost, along with an unbroken series of mistakes that would make any sane person scratch their head in bewilderment.

How did the United States of America go from Thomas Jefferson, the brilliant author of the Declaration of Independence to Timothy Geithner, a very upwardly mobile student of government and monetary affairs?


Suffice to say, as a public servant, he has served to the satisfaction of his mentors in numerous positions and also in liberal enclaves such as the Council on Foreign Affairs and a three-year stint at Kissinger Associates, learning from one of the most Machiavellian characters of the modern era. At the tender age of 42, he was named president of the Federal Reserve Bank of New York. The liberal elite take care of its own.

Geithner is the ying to Obama’s yang. They are perfectly suited to each other because both get their jollies playing the great game of state, although it should be said that Geithner is far better prepared for that role having studied abroad, including two years, 1981-2 studying Mandarin at Peking University and Beijing Normal University. His M.A. is in international economics and Asian studies from John Hopkins University School of advanced International Studies.

Obama’s education ended with a law degree from Harvard. Nobody knows what grades he made at Occidental, Columbia University or Harvard. He is often mistakenly referred to as a former professor of constitutional law at Chicago University, but in fact he was akin to a teaching assistant or adjunct, the lowest end of the academic ladder.

Obama’s mentors included a known member of the Communist Party when he was growing up in Hawaii, various “Marxist professors” at Occidental and Columbia University, and Bill Ayers who gained fame as a domestic terrorist, a member of the Weather Underground who describes himself as a “Communist with a small c.” To bring matters full circle, Ayers is a retired University of Chicago professor.


All this is by way of background to suggest that the debt ceiling will be increased because there is no alternative.

The Washington Posts’ Jennifer Rubin, a White House reporter, posted this on their blog on July 13th.

“Today’s White House meeting suggests there is no deal remotely in sight on the debt ceiling. A GOP aide familiar with the talks told me, “Today was the most tense meeting of the week. In fact, the president ended the meeting by abruptly leaving the room. During the meeting, the speaker challenged the president to offer real spending cuts. He said the gimmicks and accounting tricks that Washington has used for decades are not applicable here.” House Speaker John Boehner (R-Ohio) has had enough. “When White House officials attempted to justify budgetary gimmicks, the speaker said pointedly ‘We’re not doing that anymore.’”

At some point you wonder what is the point of keeping the talks from public scrutiny. The pathetically passive media is not demanding particulars from the White House. So, Obama sits back, refusing to present any significant cuts. He’s serious about three things: making the Republicans out to be the bad guys, doing nothing to upset his base and insisting on tax hikes. If this is where he really stands, it’s time, perhaps, to pull the plug or pull back the curtain on the charade.”

The only thing on Obama’s mind is how to position himself as the hero that saved America from the tripling of a huge debt that is mostly his making and to make the Republicans look like horrible people for insisting that the government stop spending money faster than Ben Bernanke’s Federal Reserve can print it.


As Karl Rove recent wrote in The Wall Street Journal, “The president has not only governed as a liberal—he’s governed as an incompetent liberal, thereby reminding voters that electing a Republican Congress and president next year is the only way to change direction.” A recent Gallup poll has Obama losing to any generic Republican candidate!

Little of this before, on, or after August 2, 2011 has anything to do with a responsible response by the Democrats in Congress or the White House to a huge debt that just keeps getting bigger with every passing day.

Alexander Hamilton, the first Secretary of the Treasury, once said, “It's not tyranny we desire; it's a just, limited, federal government.” Americans, since the beginning of the 20th century have been suffering the tyranny of socialism and a bloated government with seemingly no limits on its growth or its spending.


© Alan Caruba, 2011

http://www.teapartynation.com/profiles/blogs/dopey-deadlines-amp-deadbeat

Monday, May 16, 2011

RSC Chairman Jordan Calls for “Cut, Cap, and Balance” Approach as U.S. Hits Debt Ceiling

FOR IMMEDIATE RELEASE


5.16.2011

RSC Chairman Jordan Calls for “Cut, Cap, and Balance” Approach as U.S. Hits Debt Ceiling Rebuts Liberal Rhetoric on Debt Ceiling and Default

Republican Study Committee Chairman Rep. Jim Jordan issued the following statement as the federal government hit its legal debt ceiling of $14.294 trillion today:

“Five years ago, when the national debt was $8.2 trillion, then-Senator Obama said raising the debt limit was a ‘sign of leadership failure.’ Today, with the debt nearly 75% higher and trillion-dollar deficits as far as the eye can see, the Obama administration now says it is irresponsible not to raise the debt ceiling.”

“Let’s get one thing straight. Spending trillions more than you take in, that’s irresponsible. Bankrupting your children’s future to avoid today’s tough decisions, that’s failed leadership.”

“Keeping the debt ceiling at its current level would force Congress to prioritize spending, but it would not force a default on our debt. The only thing forcing a default would be Treasury Secretary Geithner allowing such a catastrophe to take place."

“Conservatives are currently building support behind a ‘Cut, Cap, and Balance’ approach to reduce spending. This plan would cut the deficit in half next year, cap spending at average revenue levels, and send to the states a strong Balanced Budget Amendment. A ‘Cut, Cap, and Balance’ solution will give job creators and the markets a strong message that the Washington is finally getting its fiscal house in order."

“Washington can either cut spending to balance the budget or continue to kick the can down the road. If we don’t choose spending cuts today, the bond markets will eventually and painfully make the choice for us. One way or another, the buck stops here.”

NOTE: The “Cut, Cap, and Balance” plan being advanced by RSC Chairman Jordan and other conservative leaders would:

•Cut – Cut the federal deficit in half from this year to next.
•Cap – Cap total federal spending at the historical average for revenue intake, 18% of GDP.
•Balance – Permanently change the game on spending by sending to the states a Balanced Budget Amendment with strong protections against tax hikes and a spending limitation at 18% of GDP.

###

Congressman Jim Jordan is Chairman of the Republican Study Committee (RSC).

http://rsc.jordan.house.gov/News/DocumentSingle.aspx?DocumentID=241665

Tuesday, December 28, 2010

111th Congress Added More Debt Than First 100 Congresses Combined

111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S.

Monday, December 27, 2010

By Terence P. Jeffrey

House Speaker Nancy Pelosi holds one of the pens used by President Barack Obama to sign the health care bill, Tuesday, March 23, 2010, in the East Room of the White House in Washington.
(CNSNews.com) - The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.

That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.

The total national debt of $13,858,529,371,601.09 (or $13.859 trillion), as recorded by the U.S. Treasury at the close of business on Dec. 22, now equals $44,886.57 for every man, woman and child in the United States.

In fact, the 111th Congress not only has set the record as the most debt-accumulating Congress in U.S. history, but also has out-stripped its nearest competitor, the 110th, by an astounding $1.262 trillion in new debt.

During the 110th Congress—which, according to the Clerk of the House, officially convened on Jan. 4, 2007 and adjourned on Jan. 4, 2009--the national debt increased $1.957 trillion. When that Congress adjourned less than two years ago, it claimed the record as the most debt-accumulating Congress in U.S. history. As it turned out, however, its record did not last long.

The $3.22 trillion in new federal debt run up during the 111th Congress exceeds by 64 percent the $1.957 trillion in new debt run up during the 110th.

Although the 111th Congress cast its last vote on Dec. 22, it will not officially adjourn until next week.

Democrats controlled both the House and Senate in the 110th and 111th Congresses.

The 108th Congress ($1.159 trillion in new debt) and 109th ($1.054 trillion in new debt) take third and fourth place among all U.S. Congresses for accumulating debt. In both these Congresses, Republicans controlled both the House and Senate.

Still, the $3.22 trillion in new debt accumulated during the record-setting 111th Congress is more than three times the $1.054 trillion in new debt accumulated by the last Republican-majority Congress (the 109th) which adjourned on Dec. 8, 2006.

Historically, according to the U.S. Treasury, the federal debt did not reach $3.22 trillion until September 1990, during the 101st Congress. Between the first Congress, which adjourned in 1791 leaving behind approximately $75 million in debt, and the convening of the 101st Congress, which occurred on Jan. 3, 1989, the national debt grew to $2.684 trillion.

During the Rep. Nancy Pelosi’s (D-Calif.) tenure as speaker, which commenced on Jan. 4, 2007, the federal government has run up $5.177 trillion in new debt. That is about equal to the total debt the federal government accumulated in the first 220 years of the nation's existence, with the federal debt rising from $5.173 trillion on July 23, 1996 to $5.181 trillion on July 24, 1996.

In her inaugural address as speaker, Pelosi vowed that Congress would engage in no new deficit spending.

"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” she said in an address from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."

Friday, November 26, 2010

Time to put the U.S.A. up for Sale

Anyone who hasn’t just landed on Earth or been in a Democrat induced comma knows that the Federal government is deep in dept.

The gross public debt as a percentage of the GDP (Gross Domestic Product) was 83.29% in 2009 and is projected to be 94.27% for 2010. Those are not good numbers. With the Republicans back in control of the purse strings, we hope that they will tighten them hard, we know that history shows that politicians can’t stop the spending. But, just in case the House decides to not increase spending by .16 cents of every dollar they bring in, they should also think about selling off U.S. Government assets.  Read more: 
http://triangle.ncfreedom.us/2010/11/time-to-put-the-u-s-a-up-for-sale/

Friday, November 12, 2010

H.R. 4646 Debt Free America Act

H.R. 4646: Debt Free America Act--2/23/2010--Introduced.

Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.

Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.


This financial transactions bill H.R. 4646 Debt Free America Act has been introduced to the 111th Congress, referred to committees, and is scheduled to be voted on in late November before the new congress takes a seat in January. It is designed to eliminate the federal income tax within 7 years. Maybe it would be a good way to change the way we pay taxes to our government but, then again, maybe not. Unlike the FairTax proposal H.R. 25, we may not be given much time to evaluate it for ourselves.


Read the short summary at the link below. We should ask questions and pay attention. You can also read the overview and the full text by clicking on the right side of the site.

http://www.govtrack.us/congress/bill.xpd?bill=h111-4646&tab=summary

The bill has been referred to the following committees for immediate consideration:

House Ways and Means
House Budget
House Rules
House Appropriations