Posts Tagged ‘ United States ’

7 Myths about Taxes

Stephen Moore, Senior Economics Writer, for the Wall Street Journal, published an extremely interesting report on Tax Myths on the Manhattan Institute for Policy Research’s website.  I highly recommend reading it but it is a bit in-depth.

By no means do I wish to plagiarise his wonderful work but I would like to condense it.  I’m only going to list the ones I think are pervasive and make my own conclusions. Continue reading

Obama believes he can’t be wrong

By Herman Cain

President Obama says very strange things, especially for a guy who presumably wants very badly to be re-elected. As if it wasn’t enough that he last week went off on small business owners for having pride in their accomplishments, this week he actually told a rally audience in reference to the economy – with a straight face – “We tried our plan, and it worked.”

It almost seems gratuitous to start citing all the numbers that obliterate this claim – the 8.2 percent unemployment, the anemic 1.5 percent GDP growth this past quarter, the soaring federal deficit that will top $1 trillion yet again this year. It’s like when the head coach of a 1-15 NFL team tries to make the case that his team is really good. Why sit there and debate him? You just nod your head and think to yourself, “Whatever you say, Coach.” Continue reading

Hillary Clinton recounts tense minutes during OBL mission

In a speech given before cadets at Annapolis on April 10, the Secretary of State recounted her impressions of the Navy Seal raid that ended in the death of Osama bin Laden.  She dramatically told those gathered that she, “was not sure anyone breathed for, you know, 35 or 37 minutes.” (Widely misquoted in the press but, hey, contemporary journalists aren’t known for accuracy.)

She’s told the story before, in nearly the same phrasing in past press interviews.  In fact, her speech last night didn’t touch on the OBL episode; these comments were merely a response to a question from the audience.  So what did she talk about and why is OBL the headline on CNN and elsewhere? Continue reading

Raise the debt limit

This video illustrates the analogy I made a few weeks back.  Republican or Democrat, you should watch this video all the way through.  If you are an elected official please watch it several times.  Better yet, watch it until you can recite the lines before they are spoken.  I want you to understand the mess you’ve created and refuse to get us out of.

The numbers

At the end of the video they display the numbers.  Lets take another look:

Total Household Debt:     $140,000
Household Income:          $21,700
Household Spending:        $38,200
Additional Debt*:          $16,500
Amount Cut:                   $385
     -about 1% of the total budget

This chart dissolves to the U.S. situation:

Total Federal Debt:  $14,000,000,000,000
Federal Income:       $2,170,000,000,000
Federal Spending:     $3,820,000,000,000
Additional Debt*:     $1,650,000,000,000
Amount Cut:              $38,500,000,000
           -about 1% of the total budget
* The video incorrectly labels this as “New Debt” it is not the new debt as that would equal Total Debt + the requested debt limit increase, I corrected this value in both charts.

Understand history and maybe you’ll avoid repeating it

Now pick up a history book on the French Revolution.  Every elected official in modern America should become very conversant on this topic.  France in the late 1780s was a nation with run-away debt, loose adherence to and even antagonistic attitudes toward religion.  This resulted in a revolution rooted in atheism, dissatisfaction with the government, economic collapse, and a government unable to control or change its course.

The result was a terrifying holocaust unlike any before and was unmatched until a similar economic collapse thrust a certain angry Austrian to absolute power over the Weimar Republic.

When there is a total financial collapse, society will also collapse.  The arrogance that always leads to this result is the attitude, it’ll never happen here.

Keep forcing our unborn grand-children co-sign the loans and the result will someday either resemble France, 1794, or Germany 1933.

15.2 TRILLION and there ain’t no stopping us now

January 9, 2012 was a historic day in America.  It came and went without much notice in the press or by the millions of Americans affected.  Without Congressional approval, without a vote, without a whimper, the debt limit was automatically raised and the national debt became a record 15.2 trillion dollars.

The new debt number exceeds the total Gross Domestic Product of the entire nation,* which was $15.176 trillion in 2011.  As Americans we should be outraged.  We should recall and impeach all our elected officials who silently approved.  But will we?

No.  Most Americans don’t even realize the danger.  Most won’t care until collapse is imminent.  Then just like in Greece, riots will erupt and people will be confused wondering why they never saw this coming.  I’ve been predicting this since 2004 and writing about it here since 2008.  People smarter than me have as well, but no one listens.

Would you like some fries with that?

Some with shallow understandings of macro economics argue, “it’s a harmless debt, we owe it to ourselves.”  That’s like walking across the Sahara without water and saying, “But it’s a dry heat.”  Nor is it unlike a 900 pound man claiming the extra 1300 calories in the Monster Thickburger won’t make a difference in his 20,000 calorie per day diet.  In both examples the result is the same. Continue reading

An Undecided

“I cannot spare this man! He fights!”

                                    — Abraham Lincoln

I’ve been silent on the Republican primaries.  Mainly because I have had little to say.  Even now I am one of the undecided.  However, as I watched the debates and listened to the political pundits, I have come to a few conclusions.  Opinions are like…  well you know, and I am just sharing mine.  I’d love to get feedback on this before the election.  Like I said I’m undecided but leaning.

First a preface, in 2008 I declared, “I am a man without a party.”  The Republicans lost their spines sometime during Bush’s first term and the party nominated a spineless old man to oppose a vigorous and energetic Socialist.  Conservatism was on the defense even from its traditional allies.  As far back as 2006, I could see the storm coming and why?  Conservatives had lost their ideals and their will.  The rest is history.  Or is it? Continue reading

So much time, so little honesty

So much to say

I have a few different points to make in this essay. I’d love you to read them all but I’ll list them here and you can decide. If you’re left-leaning I encourage you to at least scroll to the “The spending issue.”

  1. History shows a lot can change in 15 months – don’t count Obama out yet.
  2. Facts are stubborn things.
  3. The best defense is a good offense.
  4. The spending issue or why my boss and banker are terrorists.

Continue reading

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