The federal government receives about $3 TRILLION annually from its BURDENSOME taxation of citizens, legal aliens, and corporations. Then the federal government BORROWS $480 BILLION by floating treasury bills, notes and bonds to buyers around the world. The past two administrations and especially the current administration (Obama) have borrowed as much as $1 trillion per year.
The treasuries are federal government debt obligations to people and governments that have loaned money to the US government. About 14.3% ($431 BILLION) of the US government's $3 TRILLION annual revenue (onerous burden on the backs of occupants WHO PAY TAXES) is required to pay interest on the US debt obligation of $18,000,000,000,000 (18 trillion). While there are many "funny money" theories about how a government can rely on the elasticity of the currency, if the feds don't begin soon to "call" the bonds and refund money to creditors, the "full faith" in the United States will be destroyed and no person or country will loan money to a bankrupt nation. No one will make a N.I.N.J.A. loan to the US.
Progressives and Socialists in the Legislative/Executive branches of federal government since Teddy Roosevelt, followed by Woodrow Wilson, Franklin Roosevelt, and Lyndon Johnson, have continually transformed America (over the last 120 years) partly because of the theories of Karl Marx and John Maynard Keynes into a country populated by citizens who were promised much more than government can ever expect to provide. Citizens who because of over-reliance on government have neglected to prepare for a future independent of government checks by continually re-educating themselvesare to provide the current skills necessary to fight for freedom, individual liberty, and independence from government.
Socialism: Collect $1300 per month for doing nothing!
OK, you don't think the feds need to cut spending, right? If you're employed by government or elected, you just think the government should raise taxes to lower the debt.
Does anyone believe that the feds would use the extra revenue to pay down debt?
Since the US government has built a worldwide empire for itself with the help of socialist unions, the SOLUTION is: CONgress DEFUNDS all non-essential departments, agencies, and programs leaving only Defense, State, Treasury, and Justice (without Eric "Fast & Furious" Holder), and after paying interest on debt obligations, $2.569 TRILLION remains annually for paying the following essentials:
Defense Department including CIA and NSA (after closing ALL non-strategic national and international military bases). As a matter of public policy, the U.S. will proclaim that any military attack or proven threat of attack on U.S. sovereignty will result in a RAPID and DEVASTATING liquidation of the aggressors. This proclamation includes any militaristic type attack on U.S. traders attempting to conduct business in foreign countries.
Remaining active duty men/women after ending 50% of active duty enlistments early
Veterans benefits without limitation. All VA medical shifted to the private sector
All submarine and aircraft carrier groups that enable presence and rapid response internationally
Necessary air force fast response deployment groups
Unmanned weapons development programs.
Justice after laying off ALL UNNECESSARY employees (about 50%).
Legislative branch after laying off ALL UNNECESSARY employees (about 50%)
Executive branch after laying off ALL UNNECESSARY bureaucrats and employees (about 50% after shutting down departments and programs including elimination of wasteful, fraudulent, duplicative agencies)
Checks to Socialist Insecurity recipients. Issue Requests For Proposals (RFPs) to "privatize" Socialist Insecurity (regulatory and audit control remains with the Social Security Administration). Since FDR, Socialist Insecurity has always been just another government revenue source (an involuntary Ponzi scheme) but politically disguised as a "safety net" for those retired Americans who didn't work and save when they could. This scheme evolved during the Great Depression when the US unemployment rate was 25% and worldwide Socialism/Communism was receiving acolades from the US and foreign governments. The feds merely replace "TRUST" fund money with IOUs so the incoming involuntary Ponzi Scheme money can be spent. Then when Socialist Insecurity inflows don't cover outflows (now), the feds float more bonds (that Federal Reserve buys) and payoff some of their IOUs with more borrowed money to redeem their political promise. Any citizen today knows that the "TRUST" fund should have been invested in sound investments worldwide that return gains, dividends, annuities, and interest so the "TRUST" fund would have a surplus at all times and more than enough to cover outflows. Government uses the old, worn out, bogus propaganda about how government is safer than private investments. Well, there are many private sector wealth managers making a helluva a lot of money today and it's much safer than government!
The "ENTITLEMENTS" which combined represent more than 60% of ALL federal spending will consume the entire federal budget if not reformed.
An analysis of the term "privatization" is necessary but beyond the scope of this short article on SPENDING CUTS. Ideally, "privatization" means to eliminate ALL government involvement in life plans for which each person should be responsible. The feds, however, forced those who earn income to deposit a portion in Socialist Insecurity during their income earning life because it is thought that income earners have no foresight and will not save responsibly for their elderly, non-earning life. Many employers offer the option of investing a portion of income in various 'retirement' or pension plans. This is one alternative to the government's theft disguised as a "safety net". Why can't citizens save for themselves? This is one of many reasons why citizens are dependent on government. The federal government need ONLY be concerned with international issues. The 'welfare' of indigent citizens must be handled locally. The ideal solution is for the feds to shutdown Socialist Insecurity by refunding all monies extracted from paychecks (involuntarily) plus interest compounded daily and the interest rate adjusted as rates changed over the years. Then, offer contact information for financial planers/wealth managers for citizens to open new private accounts. The only remaining government involvement might be strict regulation of the planners/managers to insure against the possibility of fraud. The former paycheck extraction would then be voluntary and VERY advisable.
Medicare, after laying off ALL UNNECESSARY employees (about 50%) and implementing an extensive fraud investigation program. Develop RFPs to entirely privatize Medicare with the eventual goal of complete elimination of Medicare.
Medicaid block grants to States that have implemented an extensive fraud investigation program to pay for only the REALLY indigent citizens.
Medicare and Medicaid can be privatized using a PLAN proposed in this PDF.
Private Enterprise plans for healthcare always worked well for employees, but the cost of health insurance for employers exceeded what many employers were willing to pay. Employers could create a 'cooperative', non-profit company for paying healthcare bills. Instead of paying government with paycheck extraction, employees and employers would pay the cooperative. Additionally, the healthcare funds of the 'coop' could be invested in a well diversified set of investments to enhance the value of the funds. The 'coop' would be auditted on a quarterly basis by an independent auditor. The cooperative could also handle buying supplemental insurance (maybe from AARP) for paying any excess medical charges not covered by funds in the cooperative. Essentially, government waste, fraud, and abuse would be replaced by a professionally and technologically competent company the income of which is derived from employers and employees.
MEDICAID, however, remains a government problem unless the proposed COOPERATIVE mission includes handling indigent and disabled Americans.
Interstate Highway "Trust" Fund to ensure the maintenance of highway infrastructure.
The feds currently spend this "TRUST" fund on almost anything but highway infrastructure.
Combine ALL job training and assistance programs into one program with privatization of training programs shifted to trades schools, private colleges, and public colleges. Develop a fraud investigation system to prevent theft and misappropriation of government funds especially to the remaining government employees.
The only reason for the existence of the Federal Reserve ("FED") is so that our "elastic currency", "rubber bucks", can be created out-of-thin-air to finance unending wars and social programs (freebies designed to expand dependency). In a productive society with solvent States and Localities, there would be no need for the FED. While solvency in today's world where States and Cities borrow more than they can afford — the opposite — sound money and solvency are the result of planning, budgeting, forecasting, and saving/investing a percentage of revenue to meet future obligations. This is what government DOES NOT DO! Eliminate the ("FED") and all attempts to centralize banking. If, in the future, a bank gets in trouble because of imprudent investments or policies, then the bank FAILS. The only REMAINING banking regulation would require banks to insure customer deposits with PRIVATE insurance companies required to distribute the deposits of record to depositors after bank failure no matter the cause of failure --- sort of "no fault" insurance for banks. Afterwards, banks in the USA will be restored to the strongest in the world.
"I want a government small enough to fit inside the Constitution." - Harry Browne (1933-2006)
"The American heritage WAS one of individual liberty, personal responsibility and freedom from government ... Today, it is the government that is free — free to do whatever it wants. There is no subject, no issue, no matter that is not subject to legislation." - Harry Browne
A new Congress has been seated, and it brings the prospect of perhaps, maybe, potentially, in a possible way doing something about the runaway federal deficits. And in other news, several New York area bridges are for sale, which you can acquire at a bargain price.
Excessive Spending Destroys!
Feds Have a Spending Problem — DO NOT RAISE THE CEILING!
Debt Limit!
Feds Have a Sewage Problem!
DEBT PERSPECTIVE!
Since CONgress supposedly holds the "purse strings" and If CONgress REALLY wants to redeem itself in the view of voters and correct the most dangerous runaway spending disaster in the history of the federal government, CONgress should NEVER increase the Debt Ceiling again and then DEFUND fifty (50) percent of all government programs because the Executive Branch will NOT cut spending by performing its required executive function.
The bureaucrats and union bosses control America. The spending can ONLY be controlled and decreased by DEFUNDING all but the necessary departments, i.e. Defense, Treasury, State, and Justice.
It is a Keynesian FALLACY that reductions in government spending or eliminations of bogus, boondoggle departments will harm the economy. If our private economy were not so badly damaged by a taxing, intrusive government, even the most unqualified, terminated government employees could find employment tomorrow at Wal-Mart or McDonalds.
I'm for a flat tax -- as long as the flat rate is zero. The object is to get rid of big government, not find a new way of financing it. Harry Browne
John Adams said, “Without [term limits] every man in power becomes a ravenous beast of prey”. That being said, here are some of the reasons we believe our country needs Term Limits.
Term Limits can help break the cycle of corruption in Congress. Case studies show that the longer an individual stays in office, the more likely they are to stop serving the public and begin serving their own interests.
Term Limits will encourage regular citizens to run for office. Presently, there is a 94% re-election rate in the House and 83% in the Senate. Because of name recognition, and usually the advantage of money, it can be easy to stay in office. Without legitimate competition, what is the incentive for a member of Congress to serve the public? Furthermore, it is almost a lost cause for the average citizen to try to campaign against current members of Congress.
Term Limits will break the power special interest groups have in Congress.
Term Limits will force politicians to think about the impact of their legislation because they will be returning to their communities shortly to live under the laws they enacted.
Term Limits will bring diversity of people and fresh ideas to Congress.
[Editor's Note: If you want to get rich, i.e. advance from a low paying government bureaucrat job on the local or state level, THEN GET ELECTED TO THE US CONGRESS (House or Senate). Once you're elected, it's easy to steal from your campaign contributions or the Congressional budget allocated to your seat and staff. You can go on a government-funded junket with 'lavishly' paid expenses. The list of ways to steal from the government while in office is inexhaustible. There are only a few Congressmen who left Congress just wealthy instead of a multi-millionaire. Of course, there are several who arrived in Congress as multi-millionaires and don't need to steal from the government.]
9/6/2012: "Wenn wir beginnen würden, möchten die Probleme lösen, die mit der Finanzpolitik über die komfortabler bedeutet der Geldpolitik .. dann hätten wir ein Problem," sagt Herr Schaeble.
("If we were to begin to want to solve the problems of fiscal policy via the more comfortable means of monetary policy ... then we would have a problem," said Mr. Schaeuble)
“The more power the government has, the greater the risk to the people and the more dangerous the abuse.” Edmund Burke, 1771.
Big government is organized crime in all but name, and the man in the street is numb to the universal risk in today’s world.
Politicians and bureaucrats are spending the world into oblivion while secretly hoping and expecting to escape debt with depreciated dollars: yours. The public is unaware.
Note that your “elected” politicians never talk about the ongoing depreciation (inflation) of paper money (U.S. dollars). They don’t want you to think about this. They would rather you think about Donald Sterling and his frivolous racial comments.
But you should be on high alert. Liquidity is not only negative; it is at its most negative level in history. Are we facing the second Great Depression or worse?
For the third time in 14 years, U.S. stocks are in a bubble and far more leveraged than ever before. There are now more corporate bonds outstanding in the U.S. than there are mortgage-backed securities. This is significant, and the heart of the next crisis and the debt bubble will be non-financial corporate debt.
Investors beware! Stockholders beware!
Thanks to the Fed, it now seems that we have a bubble in all asset classes much larger than 2007. The Fed and other central banks with their expansionary monetary policies, all designed to boost asset prices, are similar to a juggler who is trying to keep all his balls in the air. The Big One is coming and there will be no place to hide except in very depressed gold stocks.
If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately. It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people. The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has increased more than 5000 times larger over the past 40 years. The Fed creates our "booms" and our "busts", and they have done an absolutely miserable job of managing our economy. But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place? Wouldn't our economy function much more efficiently if we allowed the free market to set interest rates? And according to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures". So why is the Federal Reserve doing it? Sadly, this is the way it works all over the globe today. In fact, all 187 nations that belong to the IMF have a central bank. But the truth is that there are much better alternatives. We just need to get people educated.
by Tim Iacono - The Mess that Greenspan Made
Published : March 04th, 2013
429 words - Reading time : 1 - 1 minutes
[This article, originally published on March 21st, 2012, has seen steady inbound traffic since that time and, as such, it seemed like a good idea to run it again after similar charts appeared at Bloomberg and elsewhere last week when Fed Chief Ben Bernanke commented on how great a record he has on inflation.]
In a lecture yesterday, Federal Reserve Chairman Ben Bernanke made the mistake of talking about inflation during his critique of the gold standard, going so far as to say that when the barbarous relic was used as the foundation of our monetary system “over the medium run, it sometimes caused periods of inflation and deflation” (see this item from earlier in the day for links and other specifics).
That struck me as a particularly odd way of addressing a subject that probably shouldn’t have been addressed at all and that prompted the creation of the chart shown below using data from … the Federal Reserve.
Maybe it’s just me (after all, my background is as an engineer, not as an economist), but, the hard money days prior to the formation of the Federal Reserve sure seem to be a better alternative to what we’ve had over the last hundred years, inflation-wise, especially when looking at the slope of that red curve since the last vestiges of sound money were abandoned back in 1971.
When you think about it, any sensible central bank chief serving decades after the launch of another experiment with pure fiat money really shouldn’t be talking about the gold standard at all. History shows that these pure paper money systems usually run their course after a few decades (sometime much sooner) and, depending upon how many terms Bernanke serves as Fed Chairman, that could occur on his watch.
I mean, what’s the possible upside in calling attention to the gold standard in general and, in particular, to the inflation data under that system as compared to what we’ve got now?
Former Fed Chief Alan Greenspan was careful to only make substantive comments about the yellow metal before (Gold and Economic Freedom) and after (Stunner: Gold Standard Fully Supported By… Alan Greenspan!?) he ran the world’s most powerful central bank and Bernanke would do well to follow that lead.
But, if our current Fed Chief feels as though he must talk about how returning to a gold standard would be problematic today (probably as a result of increasing calls from the public as they see rising prices everywhere but in the government’s statistics), he should probably just leave out the part about inflation.When you think about it, any sensible central bank chief serving decades after the launch of another experiment with pure fiat money really shouldn’t be talking about the gold standard at all. History shows that these pure paper money systems usually run their course after a few decades (sometime much sooner) and, depending upon how many terms Bernanke serves as Fed Chairman, that could occur on his watch.
The U.S. government is a criminal enterprise and is out of control. The U.S. Constitution was drafted to limit government and affirm the natural rights held by the people, but it is serially ignored and violated by the President, the Congress, the Supreme Court and law enforcers both Federal and local.
The result is growing tyranny and a police state and a Nation that is becoming a simmering cauldron of unrest — sparked by the passage of unConstitutional laws by a Congress controlled by moneyed interests; the affirming of those laws by the Supreme Court; long-term high rates of unemployment; a declining standard of living; increased regulation by unaccountable, bought-and-paid-for psychotic government functionaries; money printing; a presstitute mass media; [Editor's Note: love that word!] increasingly militarized and militant local law enforcement officers; and a declining morality encouraged by both the political and celebrity classes — that is poised to explode.
The elected class and their handlers have been at war with the American people, the Constitution and the American way of life for many years. In the beginning, they used gradualism to sneak small abuses by an unobservant public. But as the unConstitutional encroachments gained ground, they accelerated. We are now rapidly heading toward a calamitous event that will rock the system to its core and, hopefully, restore us to Constitutional governance.
VOTE FOR TRUE CONSERVATIVES AND TRUE LIBERTARIANS EVERY NOVEMBER TO REPLACE ALL REMAINING CAREER, SOCIALISTIC, PROGRESSIVE POLITICIANS (CROOKS) WHO HAVE HELPED DESTROY THE ECONOMY OF THE USA. DEMAND INCESSANTLY THAT THE NEW PRESIDENT ELIMINATE THE ABOVE LISTED DEPARTMENTS TO RESTORE THE USA TO SOLVENCY.
If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately. It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people. The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has increased more than 5000 times larger over the past 40 years. The Fed creates our "booms" and our "busts", and they have done an absolutely miserable job of managing our economy. But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place? Wouldn't our economy function much more efficiently if we allowed the free market to set interest rates? And according to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures". So why is the Federal Reserve doing it? Sadly, this is the way it works all over the globe today. In fact, all 187 nations that belong to the IMF have a central bank. But the truth is that there are much better alternatives. We just need to get people educated.
[This article, originally published on 
