"When the people find they can vote themselves money, that will herald the end of the republic." - Benjamin Franklin;
"And when politicians find that honor and character matter less than buying votes and a constituency, that too will herald the end of the Constitution. When that happens we must work tirelessly to change their minds, or their occupation!" - Hoping The Blind Will See

Friday, April 23, 2010

ProEnglish: The English Language Advocates

ProEnglish: The English Language Advocates

We Have No Choice But To Pay Exhorbitant Taxes For The Next 10+ Years If We Want To Reduce The Debt This Administration Has So Irresponsibly Racked Up! Where Are The People Who Were Screaming About The Debt When George Bush Racked It Up To $700B?

Dear God,

This year You took my favorite actor - Patrick Swayze; You took my favorite actress - Farrah Fawcett; and You took my favorite singer - Michael Jackson. Did I tell You my favorite President was Barack Obama?! - Anonymous

Financial Times: U.S. Debt to Hit $20 Trillion in 10 Years

Wednesday, April 21, 2010 08:51 PM

While the global financial system remains transfixed by the problems of Greece and several other European countries risking default over their massive debts, the real threat is whether the credit standing and currency stability of the world’s biggest borrower, the United States, will be jeopardized by its disastrous outlook on deficits and debt.

That’s the fear raised in a devastating Op-Ed on the Financial Times website written by Roger Altman, a former deputy U.S. Treasury secretary under President Clinton who is now chairman of Evercore Partner, a leading global advisory and investment firm.

“America’s fiscal picture is even worse than it looks,” Altman writes. “The non-partisan Congressional Budget Office just projected that over 10 years, cumulative deficits will reach $9.7 trillion and federal debt 90 percent of gross domestic product – nearly equal to Italy’s.

“Global capital markets are unlikely to accept that credit erosion,” Altman says. “If they revolt, as in 1979, ugly changes in fiscal and monetary policy will be imposed on Washington. More than Afghanistan or unemployment, this is President Barack Obama’s greatest vulnerability.”

The financial outlook for the United States is frightening. The CBO projects the size of the federal debt to increase by nearly 250 percent over 10 years, from $7.5 trillion to a whopping $20 trillion.

The only remote comparison to such a debt load occurred during World War II, a global conflict that killed 50 million people, Altman and other analysts have written.

But there is no real comparison even in the 1940s and '50s for such a rise in indebtedness – nothing remotely like it has occurred since record keeping began in 1792, Altman writes.

“It is so rapid that, by 2020, the Treasury may borrow about $5 trillion per year to refinance maturing debt and raise new money; annual interest payments on those borrowings will exceed all domestic discretionary spending and rival the defense budget,” Altman writes in Financial Times.

“Unfortunately, the healthcare bill has little positive budget impact in this period.

“Why is this outlook dangerous? Because dollar interest rates would be so high as to choke private investment and global growth,” Altman points out.

Altman makes clear that this mess is not entirely Obama’s doing. But the massive spending programs his administration proffers have taken a potential catastrophe in the making and made it much worse.

The severe fiscal decline during the past year reflects a continuation of the Bush deficits and the lower revenue and countercyclical spending triggered by the recession. Obama’s own initiatives are responsible for only 15 percent of the deterioration.

But Obama now owns this crisis. The economy is simply too weak right now to handle a severe deficit reduction plan, Altman says. And the budget commission Obama has appointed to study deficit reduction will not report until December, meaning much of 2011 could by consumed by further debate with little tough action.

But Altman says the solution is clear to everyone: “The deficit/GDP ratio must be reduced by at least 2 percent, or about $300 billion in annual spending. It must include large spending cuts, such as to entitlements, and new revenue."

Altman says it also must come from higher taxes on income, capital gains and dividends, or a new tax, such as a progressive value-added tax (VAT).

But that clearly will be anathema to fiscal conservatives, especially in the wake of the enactment of the largest piece of social spending legislation in the past half century, the Obama healthcare law.

But to do nothing is unthinkable, Altman writes. “The second possible course is the opposite: government paralysis and 10 years of fiscal erosion. Debt reaches 90 percent of GDP. Interest rates go much higher, but the world’s capital markets finance these needs without serious instability.

“History suggests a third outcome is the likely one: one imposed by global markets. Yes, there may be calm in currency and credit markets over the next year or two. But the chances that they would accept such a long-term fiscal slide are low. Here, the 1979 dollar crash is instructive. The Iranian oil embargo, stagflation and a weakening dollar were roiling markets. Amid this nervousness, President Jimmy Carter submitted his budget, incorporating a larger than expected deficit.”

That triggered a plunge in the dollar that destabilized markets, forcing Carter to resubmit a tighter budget and the Fed to raise interest rates. Both actions harmed the economy and severely injured his presidency.

“America’s addiction to debt poses a similar threat now,” Altman concludes. “To avoid an imposed and ugly solution, Obama will have to invest all his political capital in a budget agreement next year. He will be advised that cutting spending and raising taxes is too risky for his 2012 re-election. But the alternative could be much worse.”

If You Aren't Outraged, You Aren't paying Attention!

Thursday, April 22, 2010

Food For Thought...

Isn't it interesting that Hillary and Bill Clinton, progressives, were brought to court for accepting illegal campaign contributions from communist Chinese "money men" - and here we find ourselves 20 years or so later, indebted to those same communist Chinese? Coincidence? A progressive strategy put in place years ago to help perpetuate the slide towards socialism in America? Is there more here than meets the eye?

If You Aren't Outraged, You're Not Paying Attention!!

Looks Like Dodd Isn't Finished Doing As Much Damage As Possible Before He Leaves...

Gangster Government Becomes a Long-Running Series

By Michael Barone

April 22, 2010

Almost a year ago, in a Washington Examiner column on the Chrysler bailout, I reflected on the Obama administration's decision to force bondholders to accept 33 cents on the dollar on secured debts while giving United Auto Worker retirees 50 cents on the dollar on unsecured debts.

This was a clear violation of the ordinary bankruptcy rule that secured creditors are fully paid off before unsecured creditors get anything. The politically connected UAW folk got preference over politically unconnected bondholders. "We have just seen an episode of Gangster Government," I wrote. "It is likely to be a continuing series."

Fast forward to last Friday, when the Securities and Exchange Commission filed a complaint against Goldman Sachs, alleging that the firm violated the law when it sold a collateralized debt obligation based on mortgage-backed securities without disclosing that the CDO was assembled with the help of hedge fund investor John Paulson.

On its face, the complaint seems flimsy. Paulson has since become famous because his firm made billions by betting against mortgage-backed securities. But he wasn't a big name then, and the sophisticated firm buying the CDO must have assumed the seller believed its value would go down.

That's not the only fishy thing about the complaint. Yesterday came the news, undisclosed by the SEC Friday, that the commissioners approved the complaint by a 3-2 party-line vote. Ordinarily, the SEC issues such complaints only when the commissioners unanimously approve.

Fishy thing No. 3: Democrats immediately used the complaint to jam Sen. Christopher Dodd's financial regulation through the Senate.

You may want to believe the denials that the Democratic commissioners timed the action in coordination with the administration or congressional leaders. But then you may want to believe there was no political favoritism in the Chrysler deal, too. The SEC complaint looks a lot like Gangster Government to me.

The Dodd bill, however, has it trumped. Its provisions promise to give us one episode of Gangster Government after another.

At the top of the list is the $50 billion fund that the Federal Deposit Insurance Corp could use to pay off creditors of firms identified as systemically risky -- i.e., "too big to fail."

"The Dodd bill," writes Democratic Rep. Brad Sherman, "has unlimited executive bailout authority. That's something Wall Street desperately wants but doesn't dare ask for."

Politically connected creditors would have every reason to assume they'd get favorable treatment. The Dodd bill specifically authorizes the FDIC to treat "creditors similarly situated" differently.

Second, as former Bush administration economist Larry Lindsey points out, the Dodd bill gives the Treasury and the FDIC authority to grant an unlimited number of loan guarantees to "too big to fail" firms. CEOs might want to have receipts for their contributions to Sen. Charles Schumer and the Obama campaign in hand when they apply.

Lindsey ticks off other special favors. "Labor gets 'proxy access' to bring its agenda items before shareholders as well as annual 'say on pay' for executives. Consumer activists get a brand new agency funded directly out of the seniorage the Fed earns. No oversight by the Federal Reserve Board or by Congress on how the money is spent."

Then there are carve-out provisions provided for particular interests. "Obtaining a carve-out isn't rocket science," one Republican K Street lobbyist told the Huffington Post. "Just give Chairman Dodd and Chuck Schumer a s---load of money."

The Obama Democrats portray the Dodd bill as a brave attempt to clamp tougher regulation on Wall Street. They know that polls show voters strongly reject just about all their programs to expand the size and scope of government, with the conspicuous exception of financial regulation.

Republicans have been accurately attacking the Dodd bill for authorizing bailouts of big Wall Street firms and giving them unfair advantages over small competitors. They might want to add that it authorizes Gangster Government -- the channeling of vast sums from the politically unprotected to the politically connected.

That can boomerang even against the latter. Goldman Sachs employees gave nearly $1 million to the Obama campaign and $4.5 million to Democrats in 2008. That didn't prevent Goldman from being shoved under the SEC bus.
Gangster Government may look good to those currently in favor, but as some of Al Capone's confederates found out, that status is not permanent, and there is always more room under the bus.

Michael Barone is senior political analyst for The Washington Examiner.

If You Aren't Outraged, You Aren't Paying Attention...Or, You're Just Part Of The Problem

American Liberty And Freedeom vs. A Secular Socialist Machine - The Choice Is Yours In November!

Wednesday, April 21, 2010

Tea Partiers Fight Obama's Culture of Dependence -- Michael Barone -- GOPUSA

Tea Partiers Fight Obama's Culture of Dependence -- Michael Barone -- GOPUSA

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If You Aren't Outraged, You Aren't paying Attention!

ALIPAC President William Gheen

I hadn't heard of this guy before today. He is the President of Americans for Legal Immigration, and he has it mostly right!

If You Aren't Outraged, You Aren't Paying Attention!

Tuesday, April 20, 2010

Charlie Crist: The Problem Personified

Back in August, when Charlie Crist was way ahead in the polls to be the next Senator from Florida, I posted on this blog about Marco Rubio who I supported for that position. Rubio has since surged in the polls and currently holds a 23 point lead if the election were held today. At the time, and still currently, both men are members of the Republican Party. Last month, in a Fox News interview Crist acknowledged he was behind in the polls and announced that he would still run as a Republican and had no intention of running on an Independent ticket. Well it looks like Mr. Crist's resolve has waned as it has been reported that he is now thinking about his chances as an Independent candidate. The polls seem to favor him, but in reality he may just be the catalyst that propels another progressive (a Democrat with little chance to win in a two-man race)into the Senate if he does choose to run on the Independent ticket.

It apperas to me that Crist is just another one of theose career politicians looking to make decisions based upon what's best for him, not what's best for the country or his constituents. Way to go Mr. Crist for showing us your true colors. Not Red, White and Blue, but Green for greed!

If You Aren't Outraged, You Aren't Paying Attention! Or, You're Just Part Of The Problem... 

Don't Mistake Passion For Extremism

"I have made a difference every day of my life by standing up for what I believe in, in a no-holds-barred, passionate way. The curse of apathy is the number one enemy of America, and I refuse to allow the sacrifices of U.S. military heroes to go for naught. Activism is the duty of all Americans. An experiment in self-government demands participation by all who benefit from it. These heroes, these military warriors, who volunteered to crush evil wherever they could find it - if they are so willing to sacrifice so much, how dare any of us not particpate? So to each of those gun owners who don't participate in freedom provided by the sacrifices of warriors, I would beg thee, to do some research, visit a vet's home, salute some flag-draped coffins, hold a crying mother and reconsider whether you might owe somebody something."

Extremism is the American Way. A student at a school where I recently spoke asked if I dabbled with instuments other than guitar. I simply stated that I do not dabble in anything. I go for it in everything I do. I cherish life extremely. I extremely love my country and family. I feel extremely committed to participate in the freedosm provided by hero warriors of the U.S. military who sacrifice it all so that I can be free. I am extremely alive.

This wonderful "we the people" reawakening is headed for where I was way back in the 1960s. We are driven to take control back from bureaucrats out of control. We are demanding accountability and representation driven by the U.S. Constitution. I was a "tea partier" back in the '60's. - Ted Nugent!

I could say that his statements hold true not only for gun owners, but for every person who holds the designation, American. Read the whole interview with Ted Nugent, conducted by Chris W. Cox,  in 1st Freedom magazine. Be passionate! There is nothing wrong with that. Let the progressive left paint us as extremists. It just goes to show they aren't as smart as they want us to believe. For passion is a positive characteristic; while they paint us negatively as "extemists". The joke is on them, because we are all pretty much aware of their word-game tactics. We've had enough.  As a Marine Corporal I know and love, and who is very close to me, once wrote: Don't Settle 2010! We "tea partiers", "we the people" aren't going to "settle" any longer.

Not a member of the NRA? Shame on you!

If You Are Not Outraged, You Aren't Paying Attention! Or, You're Just Part Of The Problem...

Monday, April 19, 2010

The Campaign To Silence The Awakening America

It's been subtlely introduced into our consciuosness. It's been identified by talk radio and other conservative news/opinion outlet hosts, and is now being discussed openly on those stations. And now Rush Limbaugh has called them out. I'm talking about the progressive political machine trying to paint patriotic Americans as violence-hungry seditionists, bent on destroying the government. See my post on our esteem president's comments dated 4/2/10 and you'll see another example of this. The progressives haven't actually called us that, but through their comments they have intimated that we are prone to that tact. In fact, the name Timothy McVie is being thrown around by Bill Clinton like confetti!

Don't let them brow beat any of us into thinking there is something wrong with us. Don't let them make any of us believe that there is something "wrong" or "unpatriotic" about disagreeing with government policy - especially one that is taking us away from our roots and down the primrose path to socialism. It is the very kernel of patriotism! In fact, George Washington himself told us not to trust our government.There is nothing wrong with that. If the government isn't doing anything wrong, dishonorable, or underhanded, they will ahve no problem with it either. So, seeing that the government obviously DOES have a problem with it, what are they really trying to hide? What are they really worried about?

Stay strong! Speak loudly! Act honorably! But protect the Constitution and the American Republic with every tool at your disposal. If that be civil discourse or civil disobedience, so be it. This country is still We The People! If We The People don't like what's going on in OUR government, we have the right to stop it. We have the right to change the people who callously claim to represent us, but in reality represent only their own interests - getting re-elected. So take your responsibility to guard the Republic seriously, and be prepared to stand against the government that doesn't represent the people any longer. Vote your beliefs in November. Get ALL your friends and families involved and voting as well. Get them informed on the issues. There is no bigger battle we face, than the one coming on election day in November. So arm yourselves with knowledge. Vote out every progressive in your midsts. And keep voting them out until they can do us no more harm.

If You Are Not Outraged, You Are NOT Paying Attention... Or, You're Just Part Of The Problem!

When Men Weren't Afraid To Fight For What They Believed In; This Is Exactly How The Country Was Built

"Don't fire unless fired upon. But if they want a war let it begin here." --Captain John Parker, commander of the militiamen at Lexington, Massachusetts, on sighting British Troops

"What a glorious morning this is!" --Samuel Adams, to John Hancock at the Battle of Lexington, Massachusetts, 1775

Patriots' Day is a civic holiday commemorating the anniversary of the Battles of Lexington and Concord, the first battles of the American Revolutionary War.

Happy Patriots' Day Massachusetts, Maine and Wisconsin!

If You Aren't Outraged, You Aren't Paying Attention - Or, Your Just Part Of The Problem!

We Don't Need Career Politicians

If you're like me, you're sick and tired of the corruption inherent in our political system. When did it start? Why have we continued to allow it, even after we became aware of it?  Why have we become complicit in the "concept" of that's the way it's always been? And when will we, as resposnible citizens, stand up for ourselves and tell Washington (and ALL those individuals who aspire to become career politicians), "THAT IS ENOUGH!"

I think that time is fast approaching. I am guardedly hopeful the beginning of that stand will be apparent in November. I am hopeful it will continue through the 2012 and 2014 elections. And I pray that it continues for the rest of my life, at least.

We must realize that we do not need career politicians taking up space in Washington - or in any other big city or small town around America. Nor should we want them, any longer! The country didn't start out that way, and we should stop that insanity immediately. What we do need in Washington - and in everyone of our city and state governmental positions - is problem solvers. People from the business sector, and from all walks of life (expect lawyers, we've had our fill of them!) willing to analyze the problems we're faced with and make tough objective decisions to fix them. The whole world is watching America to see how the ideological battle for her future will play out. The whole world is watching to see just how strong our Founding Fathers created those documents that formed this Republic. It is an historic battle. Peaceful, but historic none-the-less. Remember, come November (and every subsequent election thereafter)...

We don't need career politicians in America, we need problem solvers!

If You Are Not Outraged, You Are Not Paying Attention - Or, You're Part Of The Problem!

If We've Learned Anything, It's That Obama Does Tell Us What He Plans To Do

So when Obama says this, "It is a vital national security interest of the United States to reduce these conflicts because whether we like it or not, we remain a dominant military superpower, and when conflicts break out, one way or another we get pulled into them. And that ends up costing us significantly in terms of both blood and treasure.", is he really telling us, in his progressive-speak code, that he has found another way to "spread the wealth"? Will we find ourselves in other conflicts in the near future? Will those lead to defense contracts for organizations headed by some of his most influential progressive "friends" from around the world - you know, from those progressive countries he's trying to transform us into? Is it another facet of his agenda to bankrupt the country, but in a quicker period of time? Time will tell. But never forget that he has no problem telling us exactly what he plans to do; it's just up to us to decipher his meaning, and believe he's telling us his truth...

If You Aren't Outraged, You Aren't Paying Attention; Or Else You're Just Part of The Problem!