The United States national debt currently stands at 10.71 trillion dollars. Individually that comes out to a 37,000 dollar tab for every American citizen. If you're earning less than 37,000 dollars you have a problem because the government is busy piling on a debt that you can't repay.
If you're earning more than 37,000 dollars, you've got an even bigger problem, because the government isn't about to stop its spending, and the money has to come from somewhere. If you're not on welfare, or unemployed, or an illegal alien doing one of those jobs that Americans won't do-- congratulations you're the 'somewhere' that money has to come from.
The bailouts and spending packages attempt to use government spending as a remedy for the "failures of the free market". But where can the government raise that money except by skimming more off the top of that same free market? The government does not generate revenue, it spends it.
If the free market is gambling in Las Vegas, the government is sitting at home watching the Home Shopping Network and running up fantastic amounts of debt on the free market's credit cards. The more the government taxes and spends, the more blatantly parasitic it becomes, and the latest attempts to leash the free market to do the bidding of the government is right up there with killing the goose that laid the golden eggs.
Obama's giant spending bill disguised as a stimulus package is set to push the debt ceiling even higher. The potentially 1 Trillion Dollar spending bill, rushed through by the Congress of Corruption, and backed by Tax Cheat Geithner, the man responsible for doing more damage to the US economy than a tornado to a pine forest, the massive frivolous spending bill will only spend the US deeper into debt.
We're already headed for a budget deficit of 1.2 trillion, but rather than exercising budgetary discipline, Obama and his cohorts are piling on the pork as if there was no tomorrow. As the National Debt continues to climb, the value of US Bonds becomes further devalued. Increasing deficit spending makes America's financial situation that much worse. If the national debt passes 70 percent of GDP, something it was projected to do even before Obama's Spending Spree, we might be looking at a true economic free fall.
Obama's fallacy of insisting that government spending drive economic recovery overlooks the fact that the money the government is spending can only be derived by further bleeding an already depressed economy through taxation and higher debt levels. Fairly soon Geithner will be forced to raise the debt ceilling again, taking the US national debt past 12 trillion dollars. And by the time 3/4rs of the GDP is debt, the US economy will quickly begin to look like that of an African nation that keeps borrowing itself deeper and deeper into a hopeless spiral of debt.
As Margaret Thatcher pointed out, the problem with socialism is that sooner or later you run out of other people's money. Of course when you begin nationalizing other people's money thereby cutting off their productive ability to create more revenue, you run out of their money a lot faster... as every Communist country in the world has demonstrated exhaustively for our benefit.
That is why Obama's attempt to pass off a blatant spending bill as a stimulus package is nothing short of economic fraud, a problem most of his Cabinet of Crooks seems to suffer from. The government is not our economic savior, most of the time it is the problem. The free market has its flaws, but a tax and spend government draws more and more money out of the system, and into the rat holes of its own bureaucracy, and in kickbacks to its own political supporters.
Paying taxes may be patriotic, but spending tax money isn't. Generations of irresponsible tax and spend politics has bulked up the national debt well above the belt. And the longer it goes on, the weaker the economy becomes, turning more vulnerable to even small setbacks, and relying on riskier and riskier investment strategies in order to stay ahead of the ever hungrier appetite of the Taxman.
The pro-Obama media pushed the perception of a collapsing economy, which combined with the antics of government mandated mortgage lending, as well as some of Obama's own supporters at places like Countrywide, created the current economic crisis. Rather than take responsibility for it, Obama is pushing the same tax and spend politics combined with increased government control that have turned America into a debtor nation in the first place.
A true economic recovery begins by cutting government spending. Taking the government boot off the economy's neck, and its greasy hand out of its pockets, is vital for any real economic recovery to begin.
The bailouts and spending packages attempt to use government spending as a remedy for the "failures of the free market". But where can the government raise that money except by skimming more off the top of that same free market? The government does not generate revenue, it spends it.
If the free market is gambling in Las Vegas, the government is sitting at home watching the Home Shopping Network and running up fantastic amounts of debt on the free market's credit cards. The more the government taxes and spends, the more blatantly parasitic it becomes, and the latest attempts to leash the free market to do the bidding of the government is right up there with killing the goose that laid the golden eggs.
Obama's giant spending bill disguised as a stimulus package is set to push the debt ceiling even higher. The potentially 1 Trillion Dollar spending bill, rushed through by the Congress of Corruption, and backed by Tax Cheat Geithner, the man responsible for doing more damage to the US economy than a tornado to a pine forest, the massive frivolous spending bill will only spend the US deeper into debt.
We're already headed for a budget deficit of 1.2 trillion, but rather than exercising budgetary discipline, Obama and his cohorts are piling on the pork as if there was no tomorrow. As the National Debt continues to climb, the value of US Bonds becomes further devalued. Increasing deficit spending makes America's financial situation that much worse. If the national debt passes 70 percent of GDP, something it was projected to do even before Obama's Spending Spree, we might be looking at a true economic free fall.
Obama's fallacy of insisting that government spending drive economic recovery overlooks the fact that the money the government is spending can only be derived by further bleeding an already depressed economy through taxation and higher debt levels. Fairly soon Geithner will be forced to raise the debt ceilling again, taking the US national debt past 12 trillion dollars. And by the time 3/4rs of the GDP is debt, the US economy will quickly begin to look like that of an African nation that keeps borrowing itself deeper and deeper into a hopeless spiral of debt.
As Margaret Thatcher pointed out, the problem with socialism is that sooner or later you run out of other people's money. Of course when you begin nationalizing other people's money thereby cutting off their productive ability to create more revenue, you run out of their money a lot faster... as every Communist country in the world has demonstrated exhaustively for our benefit.
That is why Obama's attempt to pass off a blatant spending bill as a stimulus package is nothing short of economic fraud, a problem most of his Cabinet of Crooks seems to suffer from. The government is not our economic savior, most of the time it is the problem. The free market has its flaws, but a tax and spend government draws more and more money out of the system, and into the rat holes of its own bureaucracy, and in kickbacks to its own political supporters.
Paying taxes may be patriotic, but spending tax money isn't. Generations of irresponsible tax and spend politics has bulked up the national debt well above the belt. And the longer it goes on, the weaker the economy becomes, turning more vulnerable to even small setbacks, and relying on riskier and riskier investment strategies in order to stay ahead of the ever hungrier appetite of the Taxman.
The pro-Obama media pushed the perception of a collapsing economy, which combined with the antics of government mandated mortgage lending, as well as some of Obama's own supporters at places like Countrywide, created the current economic crisis. Rather than take responsibility for it, Obama is pushing the same tax and spend politics combined with increased government control that have turned America into a debtor nation in the first place.
A true economic recovery begins by cutting government spending. Taking the government boot off the economy's neck, and its greasy hand out of its pockets, is vital for any real economic recovery to begin.
Comments
Well socialism is now in place.
ReplyDeleteThe possessed one has done his work to damage the nation he and his wife hate so much.
Goodmorning Sultan. This is slightly off topic, but I found this this morning through Drudge Report and thought you should see it
ReplyDeleteRuin Your Health With the Obama Stimulus Plan: Betsy McCaughey
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Commentary by Betsy McCaughey
Feb. 9 (Bloomberg) -- Republican Senators are questioning whether President Barack Obama’s stimulus bill contains the right mix of tax breaks and cash infusions to jump-start the economy.
Tragically, no one from either party is objecting to the health provisions slipped in without discussion. These provisions reflect the handiwork of Tom Daschle, until recently the nominee to head the Health and Human Services Department.
Senators should read these provisions and vote against them because they are dangerous to your health. (Page numbers refer to H.R. 1 EH, pdf version).
The bill’s health rules will affect “every individual in the United States” (445, 454, 479). Your medical treatments will be tracked electronically by a federal system. Having electronic medical records at your fingertips, easily transferred to a hospital, is beneficial. It will help avoid duplicate tests and errors.
But the bill goes further. One new bureaucracy, the National Coordinator of Health Information Technology, will monitor treatments to make sure your doctor is doing what the federal government deems appropriate and cost effective. The goal is to reduce costs and “guide” your doctor’s decisions (442, 446). These provisions in the stimulus bill are virtually identical to what Daschle prescribed in his 2008 book, “Critical: What We Can Do About the Health-Care Crisis.” According to Daschle, doctors have to give up autonomy and “learn to operate less like solo practitioners.”
Keeping doctors informed of the newest medical findings is important, but enforcing uniformity goes too far.
New Penalties
Hospitals and doctors that are not “meaningful users” of the new system will face penalties. “Meaningful user” isn’t defined in the bill. That will be left to the HHS secretary, who will be empowered to impose “more stringent measures of meaningful use over time” (511, 518, 540-541)
What penalties will deter your doctor from going beyond the electronically delivered protocols when your condition is atypical or you need an experimental treatment? The vagueness is intentional. In his book, Daschle proposed an appointed body with vast powers to make the “tough” decisions elected politicians won’t make.
The stimulus bill does that, and calls it the Federal Coordinating Council for Comparative Effectiveness Research (190-192). The goal, Daschle’s book explained, is to slow the development and use of new medications and technologies because they are driving up costs. He praises Europeans for being more willing to accept “hopeless diagnoses” and “forgo experimental treatments,” and he chastises Americans for expecting too much from the health-care system.
Elderly Hardest Hit
Daschle says health-care reform “will not be pain free.” Seniors should be more accepting of the conditions that come with age instead of treating them. That means the elderly will bear the brunt.
Medicare now pays for treatments deemed safe and effective. The stimulus bill would change that and apply a cost- effectiveness standard set by the Federal Council (464).
The Federal Council is modeled after a U.K. board discussed in Daschle’s book. This board approves or rejects treatments using a formula that divides the cost of the treatment by the number of years the patient is likely to benefit. Treatments for younger patients are more often approved than treatments for diseases that affect the elderly, such as osteoporosis.
In 2006, a U.K. health board decreed that elderly patients with macular degeneration had to wait until they went blind in one eye before they could get a costly new drug to save the other eye. It took almost three years of public protests before the board reversed its decision.
Hidden Provisions
If the Obama administration’s economic stimulus bill passes the Senate in its current form, seniors in the U.S. will face similar rationing. Defenders of the system say that individuals benefit in younger years and sacrifice later.
The stimulus bill will affect every part of health care, from medical and nursing education, to how patients are treated and how much hospitals get paid. The bill allocates more funding for this bureaucracy than for the Army, Navy, Marines, and Air Force combined (90-92, 174-177, 181).
Hiding health legislation in a stimulus bill is intentional. Daschle supported the Clinton administration’s health-care overhaul in 1994, and attributed its failure to debate and delay. A year ago, Daschle wrote that the next president should act quickly before critics mount an opposition. “If that means attaching a health-care plan to the federal budget, so be it,” he said. “The issue is too important to be stalled by Senate protocol.”
More Scrutiny Needed
On Friday, President Obama called it “inexcusable and irresponsible” for senators to delay passing the stimulus bill. In truth, this bill needs more scrutiny.
The health-care industry is the largest employer in the U.S. It produces almost 17 percent of the nation’s gross domestic product. Yet the bill treats health care the way European governments do: as a cost problem instead of a growth industry. Imagine limiting growth and innovation in the electronics or auto industry during this downturn. This stimulus is dangerous to your health and the economy.
(Betsy McCaughey is former lieutenant governor of New York and is an adjunct senior fellow at the Hudson Institute. The opinions expressed are her own.)
To contact the writer of this column: Betsy McCaughey at Betsymross@aol.com
Last Updated: February 9, 2009 00:01 EST
Beth
I have read that one of the big reasons Obama is shoving this package down our throats it is to establish deep pockets of patronage at all levels to make sure he wins in 2012. Also, money will be given to ACORN in massive amounts to again defraud the public and make sure he wins the election. Further, Obama will help Mayor Daley fund the 2016 Olympics in Chicago (Daley has vowed that Chicago taxpayers such as myself will not fund the Olympics), he says it will be privately funded (I guess he thinks of taxpayer bailout money as private funding...) as well as helping to pay for the Obama Library which will be unveiled in conjunction with the Olympics in Chicago. Mayor Daley is OBSESSED with having the Olympics in our city (I am not so obsessed) and will stop at nothing to get them. An article yesterday at hillbuzz.wordpress.com entitled "The United States of Blagojevich" has mentioned all of this and it makes perfect sense when you realize how Obama and the Daley Machine and Illinois corruption are all rolled into one. The article ends by saying: Graft and corruption like this for political purposes has not been seen since the days of Ulysses S. Grant.
ReplyDeleteNow the cry-baby "poor" little rich boy president has to take up an hour of television in prime time last night to pitch his stimulus package to the American people. What a jerk.
ReplyDeleteI swear if he compares the current economic crisis to the Great Depression one more time I'm gonna scream and throw my shoe at the TV. I don't think he has a clue about what things were really like in the Depression.
I was watching a show on Robert Oppenheimer a few days ago on PBS. The narrator said that Oppenheimer like other young people became interested in Socialism because of the economy and high unemployment rate.
Apparently, when you're hopeless and truly starving the thought of sharing the wealth sounds appealing. Ah, but once hope and the economy is restored?? By that time you're stuck with a dictator leader who is bleeding you dry financially and not allowing for any real hope and incentive to achieve anything.
It becomes a society of low expectations.
On Friday I found a newsletter on a bus seat called Socialist Industrial Unionism: The Worker's Power.
Sounded nice and something the working class could rally around except when I went to the website at www.slp.org and found a white page with RED letters and articles on Marxism and De Leonism.
Just to double check I searched Wikipedia. Sure enough, Socialism is described as a transitional government between Captialism and Communism.
(I know, most people really know this already, but I wasn't entirely sure on the Socialist Party so I found all of this very interesting and in light of Obama's plans, alarming. His change is putting far too much in the hands of a few select government officials.
We're not in the Great Depression and we already have safety nets in place--food stamps, Medicaid, etc.) for people who are truly in dire straights.
I don't consider the middle class living beyond their means as people in dire straights.)
Rant over:)
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