America’s Fiscal High Noon
Right now, it’s 1941 all over again.
We’re just months away from another Pearl Harbor — potentially — and all we hear from President Barack Obama and company, as Governor Haley Barbour (R-MS) puts it, is “happy talk.”
According to the unclassified 2009 report “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, what’s referred to as “Bear Raid II” — phase III of an economic terrorist attack against the United States — is poised to fatally hit the U.S. Treasury and the U.S. dollar, causing the collapse of America’s economy.
It was a threat former Secretary of State James A. Baker III underscored on CNN’s Fareed Zakaria GPS on April 10, noting if the dollar was replaced as the global reserve currency, it would be catastrophic for America.
Yet red flags galore signal that the train has already left the station.
Three weeks ago, George Soros hosted his Bretton Woods II summit, “CRISIS and RENEWAL: International Political Economy at the Crossroads,” focused on reordering the world’s financial architecture. At the same time, our political leaders were haggling over fiscal peanuts — Obama proudly announcing at the 11th hour, crisis averted: the Washington Monument would remain open after all.
Three weeks earlier, Obama began bombing Libya. It was the straw that broke the camel’s back energy-wise, sending gas prices soaring, OPEC countries reaping rich rewards. It’s right out of the economic terrorism playbook Freeman writes about. But wiser heads are beginning to get it. As the Financial Times reports, “The western allies are in a fine Libyan pickle. The real mission of the British and French military ‘advisers’ being dispatched to the rebel camp is to explore what the west might do to get out of it.”
Then, just as Americans were wrapping up their taxes, BRICS (Brazil, Russia, India, China, South America) met in China, and announced that, it would, in fact, like to displace the U.S. dollar as the world’s reserve currency.
At the same time, the International Monetary Fund declared, as reported in Financial Times, “The US lacks a ‘credible strategy’ to stabilize its mounting public debt posing a small but significant risk of a new global economic crisis….”
Then, Standard & Poor’s issued its “stark warning” regarding America’s debt on Tax Day, sending stocks plunging. While maintaining our triple-A rating, for the first time since it began rating U.S. debt — the same year as the Pearl Harbor attack — S&P lowered its outlook from “stable” to “negative,” threatening a downgrade within two years.
And now the dollar has slid to its lowest level in three years given disappointing growth, higher inflation, and the Fed’s cheap money.
It’s almost a perfectly executed set-up for this potential economic Pearl Harbor.
Wake up, America! It’s no longer OK to say, let’s just issue ourselves another credit card and take some happy pills — or happy spirits — and everything will be fine.
Rather, as Republican and Democratic legislators alike ponder the debt ceiling vote, hurtling down the road at a dizzying pace, it’s critical that they admit and confront the reality that, unless we sober up vis-à-vis deficit spending, the party is over.
Fortunately, the impending debt ceiling is the perfect bucket of cold water to sober us up and fast. Treasury Secretary Timothy Geithner estimates the U.S. Treasury will run out of money by May 16 — emergency interim steps allowing America to stay solvent until about July 16. After that it’s a new credit card or bust.
The debt ceiling vote is the only leverage Americans have to demand a serious, come-to-Jesus moment of fiscal sanity regarding the imperative to scrub the $1.6 trillion deficit for FY 2011.
To give an idea of how large that deficit is, every American household would need to pony up $15,000 to pay it off.
That’s a lot of lemonade stands.
Of course, there’s a better way. America has had a tsunami of red ink and, just like in other disasters where Americans step up to the plate and pitch in, now should be no different.
So why not ask key players to tighten their belts for one year, e.g., emergency across-the-board federal spending reductions and a one-time emergency tax levy on America’s richest corporations and individuals. In exchange, the government would lower tax rates on corporations and individuals to growth-inducing levels starting in FY ’12 — to spur not class warfare but a humming “Morning in America” economy, which is the best safeguard against class animosity.
To find the remaining money, now would be the time to defund — for real — budget-busting ObamaCare. In its place, put the Patients’ Choice Act, introduced in the 110th Congress — the most brilliant aspect of which is, according to one of its sponsors, Congressman Devin Nunes (R-CA), its Medicaid transformation — which would: a) save the states a trillion per year, the feds $300 million, administratively; b) replace current third-rate medical care with first-class care; and c) provide a template to decelerate health-care spending across-the-board.
With these kind of steps, lawmakers could, in good conscience, raise the debt ceiling, as needed.
Failing such voluntary efforts, a big bucket of cold water will have to do.
America’s fiscal high noon
By Mary Claire Kendall
Right now, it’s 1941 all over again.
We’re just months away from another Pearl Harbor – potentially – and all we hear from President Barack Obama and company, as Governor Haley Barbour (R-MS) puts it, is “happy talk.”
According to the Unclassified 2009 report, “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, what’s referred to as “Bear Raid II” – Phase III of an economic terrorist attack against the United States – is poised to fatally hit the U.S. Treasury and the U.S. Dollar, causing the collapse of America’s economy. http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/print/
It was a threat Secretary James A. Baker III underscored on CNN’s “Fareed Zakaria GPS” on April 10, noting if the dollar was replaced as the global reserve currency, it would be catastrophic for America.
Yet, red flags galore signal the train has already left the station.
Three weeks ago, George Soros hosted his Bretton Woods II summit, “CRISIS and RENEWAL: International Political Economy at the Crossroads,” focused on reordering the world’s financial architecture; while at the same time, our political leaders haggling over fiscal peanuts – Obama proudly announcing at the 11th hour, crisis averted: the Washington Monument would remain open after all.
Three weeks earlier, Obama began bombing Libya. It was the straw that broke the camel’s back energy-wise, sending gas prices soaring, OPEC countries reaping rich rewards. It’s right out of the economic terrorism playbook Freeman writes about. But, wiser heads are beginning to get it. As the Financial Times reports, “The western allies are in a fine Libyan pickle. The real mission of the British and French military ‘advisers’ being dispatched to the rebel camp is to explore what the west might do to get out of it.” http://link.ft.com/r/CTBPCC/7261X8/KQFPM/JI5QOF/BM0E2H/ID/h?a1=2011&a2=4&a3=20
Then, just as Americans were wrapping up their taxes, BRICS (Brazil, Russia, India, China, South America) met in China, and announced that, it would, in fact, like to displace the U.S. dollar as the world’s reserve currency. http://www.washingtontimes.com/news/2011/apr/14/brics-wary-of-financial-volatility/
At the same time, the International Monetary Fund declared, as reported in Financial Times, “The US lacks a ‘credible strategy’ to stabilise its mounting public debt posing a small but significant risk of a new global economic crisis…” http://www.ft.com/cms/s/0/dc1aadea-652e-11e0-b150-00144feab49a.html?ftcamp=rss&ftcamp=crm/email/2011412/nbe/InTodaysFT/product#axzz1JnANvhmQ
Then, Standard & Poor’s issued its “stark warning” regarding America’s debt on Tax Day, sending stocks plunging. While maintaining our triple-A rating, for the first time since it began rating U.S. debt – the same year as the Pearl Harbor attack – S&P lowered its outlook from “stable” to “negative,” threatening a downgrade within two years. http://www.ft.com/cms/s/0/d6c97342-69bd-11e0-826b-00144feab49a.html#ixzz1K68zcEI6 http://www.ft.com/cms/s/0/d6c97342-69bd-11e0-826b-00144feab49a.html#ixzz1K68zcEI6
And, now the dollar has slid to its lowest level in three years given disappointing growth, higher inflation and the Fed’s cheap money. http://www.ft.com/cms/s/0/4906edc4-6fb1-11e0-952c-00144feabdc0.html?ftcamp=rss&ftcamp=crm/email/2011428/nbe/MarketsAfternoon/product#axzz1KrO7A5qG
It’s almost a perfectly executed set-up for this potential economic Pearl Harbor.
Wake up, America! It’s no longer OK to say, let’s just issue ourselves another credit card and take some happy pills – or happy spirits – and everything will be fine.
Rather, as Republican and Democratic legislators alike ponder the debt ceiling vote, hurtling down the road at a dizzying pace, it’s critical that they admit and confront the reality that, unless we sober up vis-à-vis deficit spending, the party IS over.
Fortunately, the impending debt ceiling is the perfect bucket of cold water to sober us up and fast. Secretary of Treasury Timothy Geithner estimates the U.S. Treasury will run out of money by May 16 – emergency interim steps allowing America to stay solvent until about July 16. After that it’s a new credit card or bust.
The debt ceiling vote is the only leverage Americans have to demand a serious, come-to-Jesus moment of fiscal sanity regarding the imperative to scrub the $1.6 trillion deficit for FY 2011.
To give an idea of how large that deficit is, every American household would need to pony up $15,000, to pay it off.
That’s a lot of lemonade stands.
Of course, there’s a better way. America has had a Tsunami of red ink and, just like in other disasters where Americans step up to the plate and pitch in, now should be no different.
So, why not ask key players to tighten their belts for one year, e.g., emergency across-the-board federal spending reductions and a one-time emergency tax levy on America’s richest corporations and individuals. In exchange, the government would lower tax rates on corporations and individuals to growth-inducing levels starting in FY ’12 – to spur not class warfare but a humming Morning in America economy http://www.youtube.com/watch?v=EU-IBF8nwSY, which is the best safeguard against class animosity.
To find the remaining money, now would
America’s fiscal high noon
By Mary Claire Kendall
Right now, it’s 1941 all over again.
We’re just months away from another Pearl Harbor – potentially – and all we hear from President Barack Obama and company, as Governor Haley Barbour (R-MS) puts it, is “happy talk.”
According to the Unclassified 2009 report, “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, what’s referred to as “Bear Raid II” – Phase III of an economic terrorist attack against the United States – is poised to fatally hit the U.S. Treasury and the U.S. Dollar, causing the collapse of America’s economy. http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/print/
It was a threat Secretary James A. Baker III underscored on CNN’s “Fareed Zakaria GPS” on April 10, noting if the dollar was replaced as the global reserve currency, it would be catastrophic for America.
Yet, red flags galore signal the train has already left the station.
Three weeks ago, George Soros hosted his Bretton Woods II summit, “CRISIS and RENEWAL: International Political Economy at the Crossroads,” focused on reordering the world’s financial architecture; while at the same time, our political leaders haggling over fiscal peanuts – Obama proudly announcing at the 11th hour, crisis averted: the Washington Monument would remain open after all.
Three weeks earlier, Obama began bombing Libya. It was the straw that broke the camel’s back energy-wise, sending gas prices soaring, OPEC countries reaping rich rewards. It’s right out of the economic terrorism playbook Freeman writes about. But, wiser heads are beginning to get it. As the Financial Times reports, “The western allies are in a fine Libyan pickle. The real mission of the British and French military ‘advisers’ being dispatched to the rebel camp is to explore what the west might do to get out of it.” http://link.ft.com/r/CTBPCC/7261X8/KQFPM/JI5QOF/BM0E2H/ID/h?a1=2011&a2=4&a3=20
Then, just as Americans were wrapping up their taxes, BRICS (Brazil, Russia, India, China, South America) met in China, and announced that, it would, in fact, like to displace the U.S. dollar as the world’s reserve currency. http://www.washingtontimes.com/news/2011/apr/14/brics-wary-of-financial-volatility/
At the same time, the International Monetary Fund declared, as reported in Financial Times, “The US lacks a ‘credible strategy’ to stabilise its mounting public debt posing a small but significant risk of a new global economic crisis…” http://www.ft.com/cms/s/0/dc1aadea-652e-11e0-b150-00144feab49a.html?ftcamp=rss&ftcamp=crm/email/2011412/nbe/InTodaysFT/product#axzz1JnANvhmQ
Then, Standard & Poor’s issued its “stark warning” regarding America’s debt on Tax Day, sending stocks plunging. While maintaining our triple-A rating, for the first time since it began rating U.S. debt – the same year as the Pearl Harbor attack – S&P lowered its outlook from “stable” to “negative,” threatening a downgrade within two years. http://www.ft.com/cms/s/0/d6c97342-69bd-11e0-826b-00144feab49a.html#ixzz1K68zcEI6 http://www.ft.com/cms/s/0/d6c97342-69bd-11e0-826b-00144feab49a.html#ixzz1K68zcEI6
And, now the dollar has slid to its lowest level in three years given disappointing growth, higher inflation and the Fed’s cheap money. http://www.ft.com/cms/s/0/4906edc4-6fb1-11e0-952c-00144feabdc0.html?ftcamp=rss&ftcamp=crm/email/2011428/nbe/MarketsAfternoon/product#axzz1KrO7A5qG
It’s almost a perfectly executed set-up for this potential economic Pearl Harbor.
Wake up, America! It’s no longer OK to say, let’s just issue ourselves another credit card and take some happy pills – or happy spirits – and everything will be fine.
Rather, as Republican and Democratic legislators alike ponder the debt ceiling vote, hurtling down the road at a dizzying pace, it’s critical that they admit and confront the reality that, unless we sober up vis-à-vis deficit spending, the party IS over.
Fortunately, the impending debt ceiling is the perfect bucket of cold water to sober us up and fast. Secretary of Treasury Timothy Geithner estimates the U.S. Treasury will run out of money by May 16 – emergency interim steps allowing America to stay solvent until about July 16. After that it’s a new credit card or bust.
The debt ceiling vote is the only leverage Americans have to demand a serious, come-to-Jesus moment of fiscal sanity regarding the imperative to scrub the $1.6 trillion deficit for FY 2011.
To give an idea of how large that deficit is, every American household would need to pony up $15,000, to pay it off.
That’s a lot of lemonade stands.
Of course, there’s a better way. America has had a Tsunami of red ink and, just like in other disasters where Americans step up to the plate and pitch in, now should be no different.
So, why not ask key players to tighten their belts for one year, e.g., emergency across-the-board federal spending reductions and a one-time emergency tax levy on America’s richest corporations and individuals. In exchange, the government would lower tax rates on corporations and individuals to growth-inducing levels starting in FY ’12 – to spur not class warfare but a humming Morning in America economy http://www.youtube.com/watch?v=EU-IBF8nwSY, which is the best safeguard against class animosity.
To find the remaining money, now would be the time to defund – for real – budget-busting Obamacare. In its place, put the Patients’ Choice Act, introduced in the 110th Congress – the most brilliant aspect of which is, according to one of its sponsors, Congressman Devin Nunes (R-CA), its Medicaid transformation – which would: a) save the states a trillion per year, the feds $300 million, administratively; b) replace current third-rate medical care with first-class care; and c) provide a template to decelerate health-care spending across-the-board.
With these kind of steps, lawmakers could, in good conscience, raise the debt ceiling, as needed.
Failing such voluntary efforts, a big bucket of cold water will have to do.
be the time to defund – for real – budget-busting Obamacare. In its place, put the Patients’ Choice Act, introduced in the 110th Congress – the most brilliant aspect of which is, according to one of its sponsors, Congressman Devin Nunes (R-CA), its Medicaid transformation – which would: a) save the states a trillion per year, the feds $300 million, administratively; b) replace current third-rate medical care with first-class care; and c) provide a template to decelerate health-care spending across-the-board.
With these kind of steps, lawmakers could, in good conscience, raise the debt ceiling, as needed.
Failing such voluntary efforts, a big bucket of cold water will have to do.
Why does the author think that some kind of sane solution will be taken? Why should the vile Obama puppet show and its handlers do anything to prevent destruction of the American economy? Catastrophe is exactly what they want, in order to ‘reset’ world history and bring America to its knees. That will be the perfect excuse to either declare martial law and/or suspend voting that would otherwise insert new leadership. Meanwhile, the GOP is too mesmerized with go-along-get-along to do anything other than business-as-usual. If you think this is all just a conspiracy theory from a right-wing nutcase, then you are still asleep, just like you’ve been for over the last few decades.
We are witnessing the left putting the final nails in the coffin of this Republic. Even if the outcomes I have just posited are not exactly the intent, surely there is something else equally nefarious that the left will do because they “never want a serious a crisis to go to waste.”
TIME TO WAKE UP !!!
All according to plan so far.
Glenn, agreed. The purposeful deconstruction of the US, as the leading super power. has been in motion for years.Its destruction reached deafening speed since Obama took office.It is impossible to believe that the power brokers in Washington, as well as their handlers behind the scene, are simply too inept to execute prudent fiscal policy.They aren’t.The rational conclusion then is that they are remaking/transforming America into the United Socialist States of America. Recall, Obama spoke openly ! about transforming the US.However, many of the clueless voters had NO idea what he meant, they were high on electing the first post racial POTUS.
Losers!!
Me thinks that too many of the Republicans are busy contemplating their positions of power and privilege, in the “new order”, to solve the country’s problems. Then again, we may have already reached critical mass, whereby it’s too late. Big government benefits ALL politicians, why would anyone think they want to kill the goose (government) that lays THEIR golden egg.
Too many of them took the oath to support and defend the Constitution, with their fingers crossed, their only allegiance is to themselves.
Well, it was fun while it lasted. Being a superpower, that is. This is why Obama doesn’t believe in American exceptionalism. He really, honestly, thinks that we are no better than England or France or Greece or Spain, or any other of the now bankrupt social welfare states in Europe. And he won’t stop until we are as bankrupt and bureaucracy laden as they are. He actually had an opportunity to help America out of its financial problems, but he fell back on the usual liberal/socialist remedy for economic hard times, which was to spend even more money on more costly and inefficient social-welfare programs. And if Obamacare has not convinced Americans that this guy intends to spend us into a hole we can’t get out of, then nothing will. Has America waken up to this fact yet? We shall soon see in 2012. If this person is re-elected next year, then this country gets what it deserves. Bankruptcy.
and in typical, demented, lib fashion, instead of asking other countries to raise their standards, we are left to dumb ourselves down to fall back into the pack
We are one election away from losing our country.Like always our elected elite in Washington seem to be completely missing the mark.They seem to not realize the number one issue on the mind of the majority of the American people is JOBS. Corporate profits are up, Banks have made a fortune, thanks to the bailouts, while many Americans go to bed each night worrying about how to pay the bills, feed the children, and keep a roof over their heads.
http://potterwilliamsreport.com/2011/04/27/obamas-dipping-polls-soaring-gas-prices-joblessness.aspx
@ 4. cathnealon – “We are one election away from losing our country.”
As a generic proposition I think this is always the concern. But, alas, with every passing day I am more convinced that the last election was the one that lost our country.
As someone else said here (“Bob from Virginia?”), we have already achieved DICTATORSHIP BY BUREAUCRACY.
One of these day, in the not too distant future, we will be treated to an article in a major LSM outlet with the headline, “Barack Obama, the man who ruined America.” Smug satisfaction may be the only thing we will be able to enjoy.
Our view of the future is foggy, but as we move forward,
and the shadowy shape ahead becomes clear, people will ask
for new leadership; Hope that we have not waited too long.
“Banks have made a fortune”
On the other hand, there are some Very Scary Numbers inside thousands of banks.
Check your bank, or any bank at: http://banktracker.msnbc.msn.com/banks/
Look at the last two numbers in the columns. “Capital plus reserves” and “Total Troubled Assets”. The FDIC has been letting some banks with troubled assets larger than their capital structure stay open. Check out banks in Las Vegas.
Thanks, Doug. Helpful link.
This ‘administration’ has been in power for about five years. (Democrat dominance of Congress and the White House). They have been rolling out their blitzkrieg because they know the time is right and they might never get another chance.
Obama is the appliance the Democrat Party has needed to accomplish their victory over American dominance and superiority.
Does Obama care if the United States goes down? Does it look like he does?
He expresses no concern, whatsoever, in the United States’ “losing face” in the world arena. He’s got the power of the U.S. Government behind him. No matter how small this government is, it shall protect him first. He will be the last to fall, unless he is exiled to another country. And which of our enemies, would NOT embrace a disgraced U.S. President?
Obama has not kept a single promise he made during his pre-presidential campaigning. In fact, if you want to know what action he WILL take, just apply a negative to what he says he will do.
Obama knows little about how the world really works, and doesn’t really care. He does know that he and his family are protected, for the rest of their miserable lives, by the complete resources of the U.S. Government, whatever is remaining at it’s fall. This is his only concern.
With his overwhelming vacuity, and blatant incompetence, one wonders how he made it to the level he has. It is a master plan to defeat America from within. Because it could not be accomplished by external forces, and without cooperation of the foolish citizens that believe his every word.
“”And which of our enemies, would NOT embrace a disgraced U.S. President?”
Indeed. Just look at North Korea and Carter . . .
The Pubbies just have to vote against raising the debt limit. Ball is then in little Timmy Geithner’s court. They’ve got the votes to do it. Easily. If they don’t the game is up. Or les jeux sont fait as the Frogs say.
“So why not ask key players to tighten their belts for one year, e.g., emergency across-the-board federal spending reductions and a one-time emergency tax levy on America’s richest corporations and individuals”
Key players? The balloon in the federal budget has been Social Security and Medicare. How about doubling or tripling the tax specifically identified for that – FICA? Then just maybe all those ‘working poor’ who end up voting themselves more benefits will finally feel the true consequence of those actions.
About those millionaires and billionaires. Rather than increasing taxes to be spent on sex habits of Australian fruit flies, lets cut off any and all subsidies to the rich. Let them pay for their retirement, easing pressure on SS and Medicare. Eliminate corporate welfare and farm subsidies for the rich like ADM ethanol but keep them for the others. The safety net is supposed to help the vulnerable and it could do a better job, if the rich were not demanding so much from it.
All efforts to limit privileges by the State to certain groups but not others cannot work. All efforts in 5000 years have failed. I would suggest you read the Public Choice literature on this. Big Government, no matter how “noble” it begins, will NEVER become Good Government. Reason: at the end of the day Big Government people who use government as a “philanthropy” become corrupted as they are every bit as greedy, selfish, and narcissistic as anybody else. ADM supplies the cash to finance those Big Government campaigns to con us into giving up more our rights to the Apostles of Conspicuous Compassion.
This article was written well enough and even had some interesting suggestions. Unfortunately none of it will happen as Obama and his pals believe in Keynes and in their own self righteous vision of the future of a changed fair America.
The Republicans have no traction and remind me more of a Keystone Cop movie than a political movement.
I have exactly zero faith that much will change in the near term on the political front regarding debt and deficit. It is a thriving circus at this point and all participants appear to want to add more rings with more acts.
I would like to think Obama, Soros, their usefull idiot minions, the MSM can’t honestly think that the general populous (we neanderthals) is just going to roll over and be run over without one helluva fight either in the political arena or if necessary force (sorry, but we are not the sheeple yet that is Canada or the EU, we just aren’t). Of course their arrogance is beyond the pale, but are they this insane or are they thinking “well this will be a soft revolution.” (no conspiracy intended here, but it isn’t looking good)
In any event this is the last hurrah for the left, at least in this life time (if they don’t pull this one off they’ll be back, they always come back). They need to fundamentally change America now or wait. I am sure they will go for it.
The bigger question is will the people follow when Obama says follow me up this hill? I honestly do not think we will. At least this one at 62 won’t and I by God won’t go down gently.
Larsky, you may find youself an army of one. Look around you.
The article, in my view, is not serious and does not address the issues in a serious way. Her suggestion of a one time set of emergency measures is absurd. What’s needed is sustained long-term changes in how our government runs. Why should any government be running perpetual deficits as a normal way of operating? This can only be justified if you believe that the economy will continue to grow at a dynamic rate in excess of population growth. That is not happening and is unlikely to happen anymore. America’s failure to adequately educate its middle-level students is our undoing. We still educate the top students well, but the vast middle, the ones who do most of the jobs in our society, are inferior to previous generations. Unless we address that failure, we will continue to lose ground to other nations that educate their vast middle better.
I think you’re wrong on the education point. Look at the dunces in Congress, the White House, administration, the current governing Party.
The most sparkling example is Obama himself; If he really had an education, it would have been evident by now. Is there a degree for tele-prompter narration? Maybe there is now, in his honor.
Education requires DISCIPLINE; Non of which is present in the current government.
I know from first-hand observation that there is still a slice of our young students who are high performers and motivated to learn. But our education system has condemned the middle level performers the 30-90 percenters to a subpar education, leaving them at a serious disadvantage. How can we expect these young people to vote intelligently, critically evaluate the policies pursued by their political leaders, innovate on their jobs and compete with the Asian countries if we allow them to graduate from college so deficient?
i get frustrated by suggestions that obama should do this, congress should do that
these suggestions imply that the course we are on is not desired by those in position to change it
all of our elected officials are intertwined in the tentacles of the federal government
government will consume everything in its path to grow larger (this is just the nature of the world)
it is nearly impossible to reduce government once it is in place (can anyone list government programs that have ever been killed?)
the most common sense counter, then, is to grow our economy (simultaneously hog tying the government as it is) to such an extent that the consumption of gdp (by the gov’t) gets reduced automatically
the only way to grow the economy is to move towards free market principles
the battle we are engaged in is of epic proportions; slight tinkering here or there is useless
we must not be afraid of the “us versus them” instead of the “cant we all get along”
all one hears from the drones is “free markets dont help the poor…”; “free markets only help the rich…”
is this all they have for ammunition?
lies and fallacies?
we have the better systems, arguments, and facts to support what we already know in our guts; we just need to trust our guts and match the libs’ dementia with our own convictions (remember, the goal is not to get the drones on our side- they are lost; we need to convince those that never vote, those that dont pay attention, those that have never been exposed to free market ideas)
this is a fight to the death (ideologically, at least for now) and to be shy about ones convictions is to cave to the other side
might as well appreciate our free speech while we still have it
You nailed it.
bravo!
Its again the beginnings of a presidential election cycle! As are Americans conditioned and accustomed to, they divide up and blindly follow the rhetoric.
IF we were to take high priced gas, high priced food and high unemeployment off the table, most American’s would have zero interest in the true economic crisis that looms ahead for America.
The democrat progressives are polished operatives of psychic manipulation and thus, we will see a concerted effort towards manipulating the accounting and analysis of the above three factors in favor of their election and re-election. Their entire successes rely upon such a successful diversion and misrepresentation.
I suspect the centerpiece for them will be that if only the bas*tards of private sector ‘capitalists’ sitting on trillions of dollars of profits would start hiring and spending those trillions, the nations problems would be insignificant.
Like most election cycles it becomes a battle between ideological manipulators of facts and rhetoric influencing the greater masses of dumb and dumber. For example! The ‘people’ think they gave congress an overwhelming mandate in the recent 2010 election cycle to get busy and stop government spending by attack those things in government where the most spending threats comes about….wrong! Over 60% of those people now demand that those most expensive fiscal threats to the nations economy and future NOT be touched. Approximately 70% of the ‘people’ thinks the country is headed in the wrong direction….yet they cannot precisely explain in what ways they refer to…..much less espouse any meaningful resolve.
Another example! Rhetoric of politicians indicate that there is a jobless economic recover at the same time, most recent growth indicators shows only a sickly 1.8% economic growth that should be upwards of 3.5% in the given economic environment. Most of that domestic growth comes from inflated food and fuel prices, neither of which are included as inflation indicators
This election cycle will be no different than most of more recent decades. It will continue to boil down to superficial super star characteristics and BS salesmanship rhetoric the people want to hear…. void of real facts and consequences.
long term solutions to the deficit? check
repayment, over time, of the debt? check
equal treatment of all before tax law? check
curtailment of all entitlements in a responsible way? check
means for states and municipalities to fulfill their added responsibilities? check
All of these ideas are part of the following comprehensive plan for reform of taxes and entitlements which must occur together:
1. All persons residing in the U.S. shall come together in “tax units”. Members need not be related, need not reside together, and a tax unit may consist of as few as one person.
2. Each year congress shall set a “minimum wage” and a “tax rate”.
3. The following shall not be subject to taxation:
• An amount equal to a year’s earnings at the minimum wage, for each adult (age 20-65), decreasing 10% per year to 50% at age 15, and increasing 10% per year to 150% at age 70.
• All payments for necessary health care including medical care, pharmaceuticals prescribed by a health care professional, vision and hearing aids, and fees for health-enhancing entities such as gyms. Health care insurance premiums may be deducted but not health care expense paid for by such insurance.
• All educational expenses including day care for children or legally incompetent persons, the portion of state and local taxes used for education, that portion of parochial school tuition and other expenses going for non-sectarian education, and tuition, fees and educational materials for private school education.
• All income saved into an account for investments; withdrawals from this account for the benefit of any member of the tax unit shall be reported as income.
4. The “tax rate” shall be applied to any income greater than the deductions listed above, regardless of amount.
5. Any municipality having greater than 100,000 inhabitants or any state may impose on their citizens a surtax which shall be applied the same as the Federal tax.
6. Tax units whose deductions exceed income, shall be paid a sum equal to the tax rate multiplied by the shortfall in income.
7. There shall be no federal tax on corporations or other business entities.
8. The Office of Management and Budget shall compute revenues to be expected using the newly set tax rate and minimum wage, applied to the previous year’s reported incomes. No expenses in excess of that amount may be made without approval by 75% of each house of Congress.
I can go ya one better than all this progressive tripe.
1. Every person’s income shall be taxed at a rate of 12%. NO exceptions.
2. Congress shall have no power to pass a budget more than last year’s federal revenue.
The rest of it is just a continuation of our dictatorship in the making.
Tot…By in large I agree with you. However, tax revenue is NOT the problem! What the government spends the tax revenue and borrowed monies on is the problem. When you have an out of control, corrupted and basically an unconstitutional government…no amount of taxation will be enough to feed it.
The Pearl Harbor analogy would be better if Tojo had been the governor of Hawaii.
Nice one.
The rising price of gold and silver proves the world is already fleeing the dollar. $1,000 face value in pre-1965 silver coins will cost you $34,900 today.
Our dollars are sublimating like dry ice before our very eyes, leaving no trace.
Obama purposefully deconstructing the US? Come on, folks. In over his head? Sure. Listening to the wrong advice? Definitely.
What we need now is JOBS. That will reduce the deficit. Plus a flat tax, no exceptions, no mercy for violators. Hear that, GE?
And the left is worried about the Koch brothers ! Oh, and Fox News.
I do wonder where the so called elite will hide when the feces hits the fan, it may not be deep enough or far enough away.
The author recommends “a one-time emergency tax levy on America’s richest corporations and individuals.” There is no such thing as a “rich corporation”. The owners of a corporation are its stock holders, who may or may not be rich, regardless of corporate profits. As for a nice “one-time levy” on the rich, clearly the author does not understand that punishing success will reduce growth and revenues, aggravating the debt problem. I would also add that the “rich” will likely be defined down to include the very modestly successful, and that “a one time levy” would with all probability become permanent. The author has identified a critical problem, now we need to find someone who understands economics to write about it.
Glad to see that PJM is read by the quislings of the WH. Shows that we are on target since we are drawing flak.