I Do Not Like This...

found on facebook:

 

Pretty much says it all...

Congress Doesn't have a Spending Problem?

From Twitter:

David Jones‏@davidjones72019s

Treasury dept: debt added 

$37,829 a second 

$2.2 million a min. 

$136.19 million a hr 

$3.268 billion a day 

And Obama said no spending problem!

DEBT FACTS:

US National debit
16,618,292,042,950

Debit per citizen
52,733.92

Debit per Taxpayer
131,834.81
Pop. 315,136,653

A Budget That Can't Be Balanced!

Sequestration: The Big Lie

You know what really annoys me about all of the Obama administration rhetoric is that spending cuts will occur.  That's the lie.  Sequestration isn't about spending cuts...it's about FUTURE GROWTH of spending.  That has nothing to do with spending cuts now.  It means that Congress (should) bind itself to an agreement they made in 2011. Unfortunately, no Congress has EVER kept a promise to not increase spending.  At least not since the 1920's.

Sequestration: Stop the Madness!

Here's a few ideas I had on how to fix the budget issues that are now facing America..  They're fairly basic, but they would eliminate the deficit AND allow us to start paying back our grandchilren's legacy that we've stolen from them.

1. Eliminate the Fed Dept of Education (it has failed to meet any of the goals set for when founded). Education is a state matter, not a Federal one.
2. Eliminate the TSA. Turn over airport security to the airlines. Make them liable (in civil court) for ANY terrorist acts that occur on their airlines.
3. Eliminate Dept of Homeland Security.
4. Eliminate the Dept off HHS
5. Eliminate Dept of HUD
6. Cut back ALL Federal spending by 25% (40% would be better...that's how much the Dem's racheted it up after they took control of Congress in 2006).
7. Pass a Balanced Budget Amendment to the US Constitution.
8. Repeal ObamaCare...government doesn NOTHING efficiently...and this act has already increased the costs of health care by 25%.
9. Have 37 states pass an amendment to the US Constition requiring ALL laws passed by Congress to APPLY to Congress (no more exemptions)
10. Eliminate ALL exemptions from the tax code. Pass a flat tax for ALL individuals AND businesses. No more subsidies for "green jobs" or oil companies or...the auto industry.
11. Eliminate ALL government subsidies to business and agriculture.

If we could do this, we would be able to begin paying off the debt within 4 years...but our political class consists of cowards, rogues and thieves. They don't have the will to make the tough decisions that are required to save our Republic. We have just about run out of other people's money. It's time to face facts, we've been borrowing from our great grand children for more than 70 years. They're going to demand payback very soon. What can't go on, won't...

 

US Federal Deficit Revised:

Obama promised to cut his deficit spending by end of his first term.  

 

 

You can see that was yet another lie...

via Instapundit.

This is Sustainability?

Via Vodkapundit:

Since Obama has taken office ….

[through Q2 2012 for comparative purposes]

–> For every $1 added to the economy, we’ve added more than $3 in debt

–> added $5.23 trillion in debt vs. $1.68 trillion to the economy

–> 50% increase in debt vs. 12% increase in economic output

Total Public Debt:

$10,626T [Jan 20, 2009]

$15,856T [Jun 30, 2012]

–> $5.23 trillion increase in debt
[source: Treasury Dept]

As Stephen says...this is "sustainability?"  How in the hell can Democrats justify this kind of spending?  Not terribly long ago, Mr. Obama said it was unpatriotic of George Bush to add $4 Trillion dollars to the debt...over 8 years.






WTF do you call adding almost $6 trillion dollars to the debt in just over 3  years?

The "Super Committee"s Failure...

Here's an interesting video of Chris Chritie, governor of New Jersey commenting on the failure of Obama's "Super Committee."

Dangers Of Deficit Spending

In the not too distant past, a candidate for President warned America about the dangers of deficit spending...



I guess he didn't mean it.

Deficit Crisis Explained!

I found this on Don Surber's blog it's by Kate @ Small Dead Animals...and it's a great way to explain just what the recent "deficit deal" was about, and how it cuts spending...in the future, but not today:

America's Fiscal Reality 

A friend of mine in Texas republished some recent financial numbers:
U.S. Tax revenue: $2,170,000,000,000
Federal budget: $3,820,000,000,000
New debt: $1,650,000,000,000
National debt: $14,271,000,000,000
Recent budget cut: $38,500,000,000

Most people glaze over such numbers so he then equated it in simpler terms:
Annual family income: $21,700
Money the family spent: $38,200
New debt on the credit card: $16,500
Outstanding balance on the credit card: $142,710
Total budget cuts: $385
Finally, he wrote: "This is an impossible way for a family to survive. Bankruptcy is the only way out. This family is headed for complete failure."

P.S. Keep in mind that anyone who "dares" suggest that much more should be done to get America's fiscal house in order: is mentally unstable, wants to destroy their country, is a terrorist, and/or is a right-wing extremist. So says Obama's foot soldiers in government and in the MSM.

Now...does that make things a little easie to understand?  Or...to put them in Mr. Surber's words:

If anyone is wondering why we are in financial straits as a nation, consider that the president we elected in 2008 spent more money than anyone has ever spent in any election anywhere — 50% more more than John McCain — just to finish 6 points ahead on Election Day. President Obama is not exactly a penny-pincher or even a Benjamin-pincher. A Democratic Congress gave Obama a boxload of blank checks. The amount of misspending by this administration is nearly impossible to comprehend for most of humanity, and so Kate at Small Dead Animals put federal spending in terms of a family’s spending, but the numbers she described were rather lowball.

She gave the annual income of this family as $21,700. But the median household income in 2009 (the point where half earn less and half earn more) was $50,277. So I will adjust her figures accordingly.

Family income: $50,277.
Family spending: $88,506.
Added to the credit card: $38,229.
Outstanding credit card debt: $330,646.
Proposed cuts: $829.

That $829 cut means we will borrow another $37,400 next year.

But some will say it is a mortgage not a credit card. If so, we just took out a home equity loan of $38,229 last year on a house that is already underwater.

Barack Obama may do things this way. But not the rest of us.

What I don't understand is how our current political elite can justify continuing spending at this rate?  Are they stupid?  Retarded?  Do they think that the bills just won't come due?  They're coming due at a rapid rate...and we just can't continue spending like this.  The GOP & Democratic leadership had better understand, that the time for insane spending is over.

Economic History 101: WaPo Blames Bush...again

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough, a lot of people swallow this BULL. So once more, a short civics lesson

Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.

Furthermore, the Democrats controlled the budget process for FY 2008 & FY 2009 as well as FY 2010 & FY 2011. (FY = fiscal year)

In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For FY 2009 though, Nancy Pelosi

& Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until

Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.  And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009. Let's remember what the deficits looked like during that period: (below)

If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, including Barack Obama, who voted for the budgets.

If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.

Submitted by a regular reader,  who asks to remain anonymous.

Democratic Control Of Congress

For the most part since 1932, the Democratic party has controled Congress.  Not just one house occasionally, but both, as well as the office of the Presidency.  From the comments section on "what the little people think" about the recent downgrading of US debt by S&P.  The article the comments come from is linked here.

Iceman, the Dems are not blind, or stupid. They just want job security: their own. Carville says in his book that the Dems will rule for 40 years. The Dems have been the dominant party since 1930. Here's some facts on that since 1930:

The Democrats controlled the House:
1930-46
1948-52
1954-94
2006-present
R-16 years, D=60 years

The Democrats controlled the Senate:

1932-46
1948-52
1954-80
1986-94
2000 (a week)
2001-02
2006-present
R-21 years, D=55 years

The Democrats controlled the Presidency
1932-52
1960-68
1976-80
1992-00
2008-present
R-36 years, D-40 years.

There has been Democratic control over both houses of Congress and the Presidency:

2008 to present
1992-94
1976-80
1960-68
1948-52
1932-46.
That is, 28 years in the lifetime of most Americans.

There has been Republican control over both houses of Congress and the Presidency:

1952-54
Jan. 20-June 6, 2001
2002-06.

See what I mean. And don't forget, Congress makes the budget, not the President. If it wasn't for Brown's election, followed by the November 2010's election, this Country would be closer to bankruptcy than it is now, the Constitution would be a memory, and our Democratic government would take care of everyone, via taxes, and the beginning of our new socialist form of living, like eastern Europe.
Don't think the Dems are blind, or stupid. They know what they're doing

What Democrats are truly afraid of is that "the little people" will finally figure out that the vast majority of US debt stems from Democratic party policies that were passed and larded upon through their control of Congress...and that they will be blamed, rightly, for what we are now going through.

After all, from January of 2007, when the Democratic Party took control of Congress, they passed the largest of "Bush's" deficit budgets ($400 billion dollars)...once Mr. Obama took over the White House,  the deficit spigot became gusher, and they have in the past several years added fully 1/3rd to the US debt...it's so bad, that in 2010, neither the House of Representatives, under Nancy Pelosi (D-CA) or the Senate under Harry Reid (D-UT) passed a budget bill, because they were terrified of what would happen to their rather slim majorities if they did...they're still playing politics...and We The People will end up paying for this.

National Debt Road Trip

Here's a great video:

The Budget: How I Would Pare Down The Deficit

If I were president...(fat chance that, ed.) I would take the last GOP congressional budget, which what was considered to be a huge deficit...$400+ billion dollars, and I would make across the board cuts...of  30% in every single program, across all departments.  Additionally, I would layoff 30% of all federal workers.

I would also require means testing for Medicare, Medicaide and Social Security.  I  would also submit a bill to Congress that would repeal ALL of ObamaCare, as well as a bill that would:

propose the following as the 28th Amendment to the United States Constitution.

28th Amendment to the United States Constitution
The purpose of this amendment is to restrict the duration and number of consecutive terms any President, United States Senator and Congressman may serve consecutively.  It will additionally limit the number of days Congress may meet and so designate the meeting times of those sessions.

1. No citizen of the United States shall be elected to the House of Representatives to more than four (4) consecutive, two (2) year terms to office.
2. No citizen of the United States shall be elected to the United States Senate for more than two (2) consecutive, six (6) year terms of office. 
3. No citizen of the United States shall receive any retirement benefits from serving in either the United States House of Representatives or the United States Senate.
4. The term of office of the President of the United State shall be for one (1), six (6) year term and he may not succeed him or herself.
5. Congress shall not exempt itself from any laws of the United States of America, in whole or in part. 
6. Congress shall be in session for a period of not less than 60 consecutive days in the Spring, and 60 consecutive days in the Summer of each year. Each sitting of Congress may be extended by the President for a period not to exceed 15 days. The Spring session shall start on the first Monday of March. The Summer session shall begin on the first Monday in August. An additional 15 day session to begin on the 2nd Monday of December may be called by the President if so deemed necessary by declaration of a national emergency and voted so by a 2/3rds majority of the sitting Congress and may not be extended. 

as well as this one:

29th Amendment to the United States Constitution
The purpose of this Amendment is to provide that the Congress of the United States will not spend monies that exceed those taken by the IRS and Treasury Department.

• Section 1. Prior to each fiscal year, the Congress shall adopt a statement of receipts and outlays for that year in which total outlays are no greater than total receipts. The Congress may amend such statement provided revised outlays are not greater than revised receipts. Whenever three-fifths of the whole number of both Houses shall deem it necessary, Congress in such statement may provide for a specific excess of outlays over receipts by a vote directly to that subject. The Congress and the President shall ensure that actual outlays do not exceed the outlays set forth in such statement.
• Section 2. Total receipts for any fiscal year set forth in the statement adopted pursuant to this article shall not increase by a rate greater than the rate of increase in national income in the last calendar year ending before such fiscal year, unless a majority of the whole number of both Houses of Congress shall have passed a bill directed solely to approving specific additional receipts and such bill has become law.
• Section 3. The Congress may waive the provisions of this article for any fiscal year in which a declaration of war is in effect by affirmative vote of two-thirds..
• Section 4. The Congress may not require that the states engage in additional activities without compensation equal to the additional costs.
• Section 5. Total receipts shall include all receipts of the United States except those derived from borrowing and total outlays shall include all outlays of the United States except those for repayment of debt principal.
• Section 6. This article shall take effect for the second fiscal year beginning after its ratification.
• Section 7. If Congress fails to pass a balanced budget, then both chambers will be disolved and a Special election will be held in 90 days following the recess without passage of a bill. This election will be fore the remainder of the current session of Congress.

 In 2007, Nancy Pelosi, as Speaker of the House, and Harry Reid, as Majority Leader of the US Senate increased spending by 30 percent.  Once Barack Obama assumed office, that rate was excellerated...until the deficit in each of the last 3 years has been FOUR TIMES the size of the last GOP controlled Congress.  They have added one-third to othe national debt...and have set the country on the course to financial ruin. 

It's well past time that the Constitution be amended to first, eliminate the "professional political class," and secondly, force Congress to do what every one else must do...not spend money we don't have except in times of emergency.

I'd also eliminate the Dept of Energy (there's no energy policy derived from there...failed dept), Homeland Security (isn't that what the dept of Def is for?), Education (that's a function of the states and counties), HUD, Transportation (beyond their investigating plane, train accidents, and broad planning regime, the rest is a function of the states), HHS, BATF, and a whole host of other alphabet "security" agencies...as well as several other departments. Suggestions on what else to cut? 

The Numbers They Are Aweful!

From Steven Green of VodkaPundit, via Instapundit...these numbers speak for themselves.  I don't often reproduce entire blog posts, but these...speak for themselves...

“The numbers, they are awful.”

9.2% — unemployment rate for June.
0.1% — increase since May.
16.2% — underemployment rate for June.
0.4% — increase since May.
8% — conventional wisdom for the maximum allowable unemployment rate to win reelection.
15 — remaining BLS reporting months before Election Day.
255,000 — net jobs that must be created each and every month to reach 8%.
18,000 — net jobs created last month.
44,000 — downward revision to April and May job creation.
3,825,000 — total net jobs needed before Election Day.
2,100,000 — jobs created in the last fifteen months.
11.2% — unemployment rate if the labor participation rate was as high as it was in January, 2009.
290,000 — best monthly net jobs gain during Obama administration.
231,000 — real best gain, minus temporary Census hiring.
14 — months since best monthly gain.
1% — decrease in DJIA in the opening minute of trading, day that jobs figures released.
$1,200,000,000,000 — cost of ARRA “stimulus,” with interest.
1,900,000 — net jobs lost since ARRA was signed.
2 — quantitative easing programs since 2008.
~$2,000,000,000,000 — total of first QE program during Great Recession.
$600,000,000,000 — total of second QE program, just ended.
40% — increase in federal debt since January, 2009.
30% — increase in annual federal spending since January, 2009.
20% — decrease in federal revenues since January, 2009.
12% — decline in value of US dollar since January, 2009.
37% — increase in number of Americans on food stamps since January, 2009.
62% — increase in Misery index since January, 2009.
800 — days since the Senate passed a budget.
1.9% — last quarterly GDP increase.
2.5% — consensus projection for last quarterly GPD increase.
2.7% — official White House projection.
3.0% or better — GDP growth needed to dent unemployment.
3.6% — official White House GDP growth projection for 2012.
2.7% — IMF GDP growth projection for 2012.
30% — federal debt held by public as percentage of GDP, 2005.
60% — federal debt held by public as percentage of GDP, 2010.
180% — federal debt held by public as percentage of GDP, CBO estimate, 2035.

0% — odds of current path being sustainable.

Then toss in this graphic that shows that the recovery from the current recession is the slowest-worst in modern times:

and then this:

...and then think about our "elite political leaders" in Washington argueing whether or not to raise the debt ceiling!  They are quibbling over fake "spending cuts" (which aren't really cuts at all as has been demonstrated in the past few months) that at best cut fractions of a percentage point, while our economy struggles along, it's time to dump the leadership in the GOP, and start fresh.  They don't have the courage to do what needs to be done.

Boehner Sells Out (again...)

Speaker of the House, John Boehner (R-OH) has indicated that he will raise the debt ceiling.  In doing so, he will be flying in the face of what he promised last year, substantive, substantial cuts in the both the federal budget, but the huge deficit as well.  Bloomberg is reporting that,

House Speaker John Boehner said “it’s clear” the U.S. must raise its debt limit, responding to President Barack Obama’s efforts to secure backing to extend the government’s borrowing authority.


“At some point it’s clear to me that we have to increase the debt ceiling,” Boehner, an Ohio Republican, said yesterday on CBS’s “Face the Nation.” “And as we do, we’re going to do it in a way that addresses America’s long-term fiscal challenges.”

Yet again, proving that the GOP leadership in Congress are "going along to get along."  They, the GOP leadership are part of the problem and not part of the solution. This goes along with the betrayal when we were promised that there would $100 billion dollars cuts immediately...what we got was $38 billion, and that was hailed a a huge cut...until you consider that this years deficit tops $1,700,000,000,000.00...  That comes to less than .38% cut.  Nothing, not even a drop in the bucket.

Now, we're being told that we must permit this spendthrift president to continue taking the country down the road to financial ruin, and the GOP will just help him along. 

We've been told that if the Chinese, who hold huge amounts of US Treasury bonds were to reduce their holdings, that would be catastrophic to the US economy.  Guess what...the Chinese have, for the 5th straight month, reduced  their holdings of US Treasury bonds.

China, the biggest buyer of U.S. securities, trimmed its holdings for a fifth straight month.  The Treasury Department said Monday that China cut its holdings by $9.2 billion to $1.14 trillion.

Instead of cutting the deficit, we're gettinng Kabuki Theatre...just going along to get along.  Mr. Boehner, you were given a majority in the House of Representatives to substantially cut spending.  Paul Ryan (R-WI) has given you a plan to do so...so dammit, start working on real substantive cuts NOW!  We can't afford not to.

Mr. Boehner, if you don't follow up your words of last year, next year will so the GOP thrown out of office in records numbers.  Just as the Democrats were turned out wholesale.

Obama: It's His Policies, Not His Race

People are upset about Mr. Obama's policies and many, if not most, don't give a damn about his race.  Yet, when the Racers attempt to equate oposition to Mr. Obama to racism, they're merely trying to shout down debate.  Tony Katz hammers Racer Contessa Brewer on this on MSNBC.



Here's the money Quotes:  

CONTESSA BREWER, MSNBC HOST: That’s what a lot of people are saying it’s not a laughing matter. They say that there are questions about him, not because there really are questions about where he is born, but because he is black. […]

KATZ: But this whole idea of race, you know what, if there are birthers and they’re all crazy and silly for actually wanting to see a birth certificate, well let’s talk about the racers, the people who believe that everything is a conspiracy about race. It’s Obama’s race that people want to see the birth certificate. It’s Obama’s race that people don’t like the out of control spending. It’s not his race. It’s that he’s awful. The policies are terrible. ObamaCare is a lie and a failure. QE1 and QE2 didn’t work. It’s crazy.

..............

KATZ: They didn’t say it was race. Everything that comes out of the racers, and they exist – the Washington Post, the New York Times, the Huffington Post”, some people at your very network, and you know I enjoy having these conversations with you. They are so focused. Everything is about race. It’s not about race. When we talk about Obama and the policies, it’s about the awful policies. It’s about the inability to bring down debt. It’s about the inability to tackle the deficit. And when everybody says, “Oh, they’re just after this because of race,” it is nonsense. It’s a way to stop people from having conversation. Political correctness at its worst. If we want to talk about the issues, let’s talk about the issues.  {emphasis is mine, RAV}

That's it, by constantly using the race card, liberals devalue it to meaninglessness.  It's not about Mr. Obama's race, who friggin' cares about that?  Not me.  What I care about is the simple fact that his economic policies, and those of his party are sending this country down the path of financial ruin.  We simply cannot continue to spend money we don't have.  In the past 4 years of Democratic control of Congress and since 2009, of the presidency, they have added 1/3  to nearly 1/2 to the debt.  That's unacceptable.  It took 225 years to reach 7 trillion dollars.  Put only 4 years for Democrats to nearly double that figure.  Four years!

That's utterly unsustainable.  I genuinely hope that Congress doesn't raise the debt ceiling because we simply cannot continue to spend money we don't have.  It's time to pass a balanced budget amendment.  Most states must balance their budgets so must our national government.  In that balanced budget amendment, there must also be provision for a line item veto.

Our Debt

Please, take the 3 minutes to watch this video:

10 Ways to Reduce Government Spending

 Here are 10 suggestions to reduce the deficit produce a balanced budget.

1. Eliminate all ethanol subsidies (and ALL farm subsidies).
2. Eliminate all windmill subsidies.
3. Cut EPA’s budget 50%.
4. Eliminate the FCC.
5. Eliminate the NEA.
6. Eliminate public broadcasting money.
7. Eliminate the Dept  of Education.
8. Across the board 20% cut in funding.
9.  
10.  

I'm leaving spots 9 and 10 open for your suggestions.  Here are a couple of more.

But the best suggestion of all is that if (when) Congress fails to pass a balanced budget by the first day of the federal fiscal year, hold a special election 90 days later to replace all 535 of the worthless sonsabitches.  Another would be to end the full-time, year-round Congress.   Because they're there all year, they waste endless amounts of money.

The Coming Financial Crisis

Here is a link to a video by Porter Stansbury, the founder of Stansdury & Associates, a research company based in Baltimore.