It’s War – Media Jump On GOP Brawl – Boehner Attacks Overshadow Budget – Media Buzz Spotlight
It’s War – Media Jump On GOP Brawl – Boehner Attacks Overshadow Budget – Media Buzz Spotlight
December 11, 2013 in Congress, Debt Crisis, Debt Limit, Depression, Economic Deception, Economy, Political Class, Political Deception, Political Incompetence, Quantitative Easing, Republicans Vs. Tea Party, Sequestration, Taxiation with Representation
We have a Bipartisan “Deal” in Congress that will roll back the Sequester and add back at least $63B in additional Debt. The “Deal” will result in raising Revenue to offset the new spending and to make it appear like spending has been reduced! For those of you that don’t understand the Washington jargon, raising “Revenue” means raising “Taxes”.
When our good friend of Liberty and Fiscal Responsibility, Louie Gohmert (R-TX) has qualms about the ” Deal”, then Houston, we have a problem!
The “Deal” is great for most of our “Political Class” on both sides of the aisle that just want to continue their comfy spending habits without any accountability, interference or distressing phone calls from their constituents. Hence, this “Deal compromise” promises to exacerbate and accelerate our present economic ticking time-bomb.
On his “The Economic Collapse Blog” of December 10th, 2013, with our economy in such a precarious situation, Michael Snyder asks, How Far Will Stocks Fall This Time When The Fed Decides To Slow Down Quantitative Easing? Read his article at http://theeconomiccollapseblog.com/archives/how-far-will-stocks-fall-this-time-when-the-fed-decides-to-slow-down-quantitative-easing
We already have a monumental Federal Deficit of $17.2 Trillion and super-Monumental Unfunded Liabilities of anywhere between $60 and $90 Trillion “…or 550 percent of our GDP. And the debt per household is more than 10 times the median family income.”
Folks, we have Local, State and Federal Governments that are totally out of control and are literally taxing us to death and a Federal Reserve that has been feeding $85 B/ month in Quantitative Easing into our banking system. Every time the Fed attempts to withdraw what some characterize as the QE “Heroin Fix” our economy pulls back. Will the imminent pull back by the Federal Reserve of of QE3 be the trigger that will plunge us into an unprecedented economic Collapse?
Whatever the case, as you will see from the following signs, Americans can no longer afford the debt being placed upon us and future generations by our Legislators without some sort of personal financial buckling!
The time has come to stand up and be counted. Enough is Enough! Our Governments continue to squander and misappropriate our hard earned treasure on cronyism. Career Congressmen and Senators become multimillionaires while working as public servants.
Meanwhile, the “Standard of Living” for American who work deteriorates as both the “Government class” and their rapidly growing “class of non-producer perpetrators” at the Local, State and Federal levels continue to feed on and to suck the “Systems” dry.
The following are the first 10 signs that Americans will be wiped out by an Economic Collapse and are excerpted from an article by Michael Snyder, on June 24th, 2013, in his Economic Collapse Blog at : http://theeconomiccollapseblog.com/archives/how-far-will-stocks-fall-this-time-when-the-fed-decides-to-slow-down-quantitative-easing
#1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck. But most Americans are acting as if their jobs will always be there. But the truth is that mass layoffs can occur at any time. In fact, it just happened at one of the largest law firms in New York City.
#2 27 percent of all Americans do not have even a single penny saved up.
#3 46 percent of all Americans have $800 or less saved up.
#4 Less than one out of every four Americans has enough money stored away to cover six months of expenses.
#5 Wages continue to fall even as the cost of living continues to go up. Today, the average income for the bottom 90 percent of all income earners in America is just $31,244. An increasing percentage of American families are just trying to find a way to survive from month to month.
#6 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.
#7 Small business is becoming an endangered species in America. In fact, only about 7 percent of all non-farm workers in the United States are self-employed at this point. That means that the vast majority of Americans are depending on someone else to provide them with an income. But what is going to happen as those jobs disappear?
#8 In 1989, the debt to income ratio of the average American family was about 58 percent. Today it is up to 154 percent.
#9 Today, a higher percentage of Americans are dependent on the government than ever before. In fact, according to the U.S. Census Bureau 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government. So what is going to happen when the government handout gravy train comes to an end?
#10 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
October 5, 2013 in Abuse of Power, America's Collapse, Anarchist, Anarchy, Congress, Debt Crisis, Debt Limit, dictator, DICTATORSHIP, Fiscal Cliff, Freedom, Generational Theft, Government, Homeland Security, Hope and Change, Politics, President Obama, Propaganda, United States Constitution, United States Sovereignty, Veterans
Obama Admin Masters Of Pain! – Making Shutdown Hurt Americans As Much As Possible – Lou Dobbs
Workers Are Being Order To Make It As Painfull As Possible To Americans
Open Air Memorials, Monuments Remain Close As Government Shutdown Hits Day 4
Obama Admin Is Also Forcing 100 Of Privately Operated Businesses On Federal Land To Close!
The Weimar Republic is the name given to the federal republic and parliamentary representative democracy established in 1919 in Germany to replace its pre-WWI imperial form of government. It was named after Weimar, the city where the constitutional assembly took place. The Weimar‘s Constitution was signed on August 11, 1919 and was deposed by Hitler’s Third Reich ascendency in February/March 1933. During its fourteen year existence the Weimar Republic was burdened by hefty reparations imposed by the victors of WWI, political extremist from both the Left and Right as well as rampant hyperinflation that permitted Hitler to seize power and dissolve the Constitution. The caption below the above photo of a one Hundred Million Mark note[A mark was equivalent to our $1-dollar bill] reads: In 1923, a German housewife burned mark notes in her kitchen stove since it was cheaper to burn marks than to buy firewood.
The vision most vividly embedded into the minds of school children studying the era is one of a wheelbarrow filled with thousands or millions of marks to purchase a single loaf of bread! The photo at left taken during this period, depicts that scenario.
When Barack Hussein Obama came into office, our FY2009 Budget stood at $3.1Trillion. Today the FY2013 Budget is at $3.8Trillion. Sequestration, which is a program devised by President Obama, cuts $85B across-the-board from THE RATE OF INCREASE of theFY2012 budge of 3.72Trillion. It DOES NOT DECREASE the FY2013 total budget amount from that of FY2012. Of the phantom $85B in cuts, half isslated to be removed from Defense Spending and half from Entitlement Spending. The $85B in phantom cuts represents measly 2.2% of our $3.8T Budget.
The FY2013 Budget consists of 60% Mandatory Spending and 40% Discretionary Spending. Mandatory spending is spending that is required under existing law. In passing, it needs to be noted that while Defense spending represents 19% of the FY2012 Budget, it is slated for 50% of the FY2013 Sequestration cuts.
Last Fall, Jim Rogers, the founder of Rogers International Commodity Index and economic guru,” predicted that America is headed to a “Financial Armageddon”. Rogers stated that he was absolutely convinced that the economy would burst soon after the election. He also stated that he has never been a supporter of the policy of quantitative easing.[ The Federal Reserve can just create dollars out of thin air by buying up assets like long-term Treasuries or mortgage-backed securities from commercial banks and other institutions. These “thin air” dollars created by the Federal Reserve flow into the banks, and in turn are pumped into the U.S. economy and ultimately reduce our long-term interest rates. The theory is that when long-term interest rates go down, investors have a greater incentive to spend their money.] Jim Rogers is also quite certain that our Government needs to cut spending in order to reduce our burgeoning debt. Rogers also stated that German Chancellor Angela Marker and Obama were promoting policies which were just another disguise for hiding the real state of their economies.
www.usgovernmentpending.com is estimating that the US debt to GDP will exceed 100% for 2012. Two American economists, Carmen Reinhardt and Ken Rogoff, argue that growth slows sharply in countries where the ratio of debt to GDP exceeds 90 percent.
So there you have it. Barack Hussein Obama is jawboning Congress about Sequestration, seeking even more deficit spending that will most certainly result in even slower growth, less jobs and further US credit rating downgrades. Are you going to push back on the President and his propaganda squads and support a strong America, or are you going to sit idly by and watch our economy and country slide further into the abyss?
Government spending and debt are both too high, and thisthreatens all Americans with a weaker economy and a lower standard of living. Every opportunity to reduce spending and put the government on the path to a balanced budget must be taken. Anything less is a path to defeat.
We need spending cuts that are targeted to the programs that need reforms—the entitlements that are the major drivers of our growing deficit. Sequestration leaves many programs like Social Security, welfare, food stamps, and Medicaid untouched, while having devastating effects on national security. Trying to use defense cuts to balance the out-of-control entitlement spending while we still face growing threats (Russia, China, Iran, and al-Qaeda affiliates) is a fool’s errand that will create a hollow military and do nothing to fix economic troubles. But if Congress does not replace the sequestration cuts with smarter cuts—like eliminating Obamacare funding or other ineffective programs—then the sequestration cuts will be our first step toward getting serious about federal spending. The Foundry: Conservative Policy News Blog from The Heritage Foundation
Let’s try to break down the consequences of Obama’s fondness for a disgraceful Spending appetite.
$165,000 Cumulative debt + $16,000 Current Debt = $181,000 Total Cumulative Household Debt
Yes this is the Obama Math in play. How long could you or would your creditors allow you to rack up these credit card charges without forcing you into bankruptcy? Yet we have been doing just this for decades now. Once our creditors acknowledge our inability to pay off our debt, our interest rate, as we have seen in Greece, will be so onerous that there will be riots in the streets when basic government necessities can no longer be provided. We’re not talking about “Obama phones”, but rather necessities like food medicine etc.
Our federal government can and must do better than that.
Whenever the President and Congress talk about Borrowing, we should look at it in household terms. In the above example it should be evident to all, that there is really no real ability and therefore no real intention to pay back the accumulated $15,961.50 debt.
Borrowing is when you ask a lender to give you money and based upon your financial position, he agrees and you agree to pay it back in some predetermined term at an agreed upon interest rate.
What is occurring in the above example and what the Obama Administration is advocating is generational theft from our Children and grandchildren who have no voice in the matter!
This generational borrowing is stealing, and criminal behavior that must be punished because we must Stop Stealing from our Children and Stop the Overspending.
They are using their constituents as a Trojan Horse to hide yet again,billions in pork to connected contributors. This while we have just concluded the Fiscal Cliff Legislation with No spending cuts and contemplate the Debt Limit!
Sounds to me that Congress is back to their old tricks and don’t give a damnn about their constitutiencies or the debt load to present and future generations.
Published January 08, 2013
Dow Jones Newswires
The insurance industry will likely post losses totaling $20 billion or more from Hurricane Sandy, as losses reported so far reached $16 billion to $17 billion, Fitch Ratings said.
That estimate would put the total industry loss just below the high end of the range of the most recent insured losses estimated by third-party catastrophe modelers, the ratings firm said.
Fitch added that the complexity of assessing the losses from such a large and intense storm over such a large area–particularly when evaluating the impacts of flooding and business interruption claims–has created uncertainty in estimating total insurance losses from Sandy. With that in consideration, insurance companies were unable to report credible loss estimates until almost two months after the storm hit on Oct. 29.
Due to the size and nature of Sandy, a larger proportion of losses were incurred from commercial lines versus personal lines, Fitch said. Primary writers with substantial Northeast catastrophe exposures are incurring the most significant losses, with reinsurers taking a more reduced, although still meaningful, share.
Write to Ben Fox Rubin at email@example.com
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