deficit (33)

 

 
“It now seems that Barack Obama and Ben Bernanke here in America are the equivalent of a combined level 9.0 earthquake, tsunami, and nuclear disaster elsewhere.”
 
“The only reasons that anyone anywhere would buy or accept the Yen, Euro or Dollar right now is because they are either stupid or mad or have no choice (like retirees on Social Security). Get out! Get out! Get out! Put your retirement immediately into gold and silver . . . this government has not shown itself worthy of your trust. 
 
 
 
Credit Worthiness Doubts Plague the Once ALMIGHTY $$
Gold Prices Soar, S & P Makes Long Overdue
Negative Critique of U.S. Credit Rating
 
 
 
Gold prices moved to their highest in history in response to monetary shocks involving the Euro and the American Dollar. The incalculable damage done to America's once proud monetary system (for 60 odd years now, the Dollar has been the world's reserve currency) by the policies of Barack Obama and Fed Chief Ben Bernanke over the last twenty-seven months have just received their long-awaited first official comeuppance.   Standard & Poors has for the first time in history yesterday put a “negative” outlook rating upon the AAA credit rating of U.S. government Bonds. 
The American credit rating has never been anything but “stable” up till now. This long overdue move put American stock markets in a tailspin at least for Monday, 2011’s official Tax Day. Gold finished the day at $1493.00 per ounce while silver climbed to over $43.70 per ounce on the dramatic news.  In contrast, after being down over 250 points (1.9%) for most of the session the Dow Jones Industrial Average ended Monday off 140 points or down over 1.14%.   The announcement by S&P and the falling of the Euro combined for a bad day for financial markets in the West.
European nations are taking a belated but realistic look at the devastation that the insolvency of the P.H.I.G.I.E.S. countries (Portugal, Hungary, Ireland, GREECE, Italy, England and Spain; with England recently showing semi-drastic policy-change in support of their economy) where the specter of non-stop bailouts has created huge ripples in the world currency and stock markets. The debt crisis in Europe, despite the bailouts has seen the European community as a whole show evidence of some belt-tightening.  Here in America, however, Barack Obama has been spending and creating entitlements and big government like a maniac . . . and he’s been willfully abetted by the inflationary policies of Bernanke. 
The United States is one of just nineteen governments that enjoy S&P's highest, triple-A sovereign credit rating. It has had that rating, and a stable outlook, since 1941, when Standard Statistics merged with Poor's Publishing to form S&P.  S&P’s two predecessor agencies also gave the United States their highest ratings. S&P's warning came as a surprise, but only in the sense "that somebody decided to say the emperor has no clothes," says Howard Simons, a strategist with Bianco Research.
“If an agreement (on cutting deficit, national debt and UNfunded liabilities in the U.S.A.) is not reached and meaningful implementation does not begin . . . this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns,” New York-based S&P said today in a report that maintained its top rating on U.S. long-term debt while lowering the outlook to “negative” for the first time. 
By comparison, S&P is widely rumored to be considering lowering the Japanese bond rating because of the effect of the three-pronged disaster that struck that Island recently. Up to now Japan has enjoyed an AAA rating with a “negative” outlook but been able to sell their bonds at lower interest rates because besides eschewing inflationary monetary policies, the Japanese are a long-reputed “nation of savers not debtors” and the internal demand for the nation’s bonds among its people is very high. It now seems that Barack Obama and Ben Bernanke here in America are equivalent to a combined level 9.0 earthquake, tsunami, and nuclear disaster** elsewhere.  Rajjpuut looks at some crucial wealth-protecting alternatives to normal investing in the footnotes including so-called “Forever Stamps.”
Standard & Poor’s put the U.S. government on notice it could lose its AAA credit rating unless policy makers agree on a plan by 2013 to reduce budget deficits and the national debt. “If an agreement is not reached and meaningful implementation does not begin by then, this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns,” New York-based S&P said in its report.
S&P said there’s a one-in-three chance that the rating might be cut within two years and that its “baseline assumption” is that Congress and the Obama administration will come to terms on a plan to reduce record deficits. Treasuries and the dollar rebounded from early losses following the statement, while stocks declined.  Another financial rating service, Moody’s Investor Service, which has a stable outlook on U.S. debt, today said the U.S. budget debate is “positive” for the country’s credit. The S&P  action puts pressure on Obama and House Republicans to come to agreement on plans to reduce the national debt, which S&P says could rise to 84 percent of gross domestic product by 2013 roughly a 25% increase from where it was when Obama took office in January, 2009.
In response, House Majority Leader Eric Cantor called the S&P warning “a wake-up call for those in Washington asking Congress to blindly increase the debt limit.” S&P’s negative outlook “makes clear that the debt-limit increase proposed by the Obama administration must be accompanied by meaningful fiscal reforms that immediately reduce federal spending and stop our nation from digging itself further into debt,” the Virginia Republican said in a statement. Overseas investors hold about half of the roughly $9 trillion in outstanding marketable U.S. debt, including $1.2 trillion held by China and $ 0.9 trillion held by Japan. The specter of the Japanese government and China selling out American bonds and not renewing has many in Washington worried.
S&P failed to mention the $14.29 trillion debt ceiling, but said that if current American budget negotiations fail, it might not be possible to get an agreement until at least the 2014 budget cycle. Our Treasury Department has said the borrowing limit will be reached no later than May 16, at which point it will turn to emergency measures that provide borrowing room through about July 8. Republican leaders in Congress have said they will NOT back increasing the debt ceiling unless Obama agrees to more specific steps to trim the budget deficit, estimated to top $1.6 trillion this year, as well as agreeing to significant cuts. Nevertheless, despite all the attention the Dollar has recently received, the Euro is balancing on the edge of disaster and the Euro has risen in recent months compared to the Dollar. It seems that many worldwide investors are stuck in their ways considering only two currencies. Gold and silver, however, have seen meteoric rises in value compared to the Yen, Dollar and Euro.
Yes, there are other currencies more at risk. But the U.S. has, relative to its AAA peers, very large budget deficits and rising government indebtedness and the path to addressing these is not clear according to the S&P report. The report also said that from 2003 to 2008, the U.S. total government deficit fluctuated between 2 and 5 percent of gross domestic product. "Already noticeably larger than that of most 'AAA' rated sovereigns, it ballooned to more than 11 percent (under Obama) in 2009 and has yet to recover."
 
Ya’all live long, strong and ornery,
Rajjpuut
**
      The reader surely noticed that worldwide investors have for the most part shown little imagination in lining up their investment options for the last decade. The only reasons that anyone anywhere would buy the Yen, Euro or Dollar right now is because they are either stupid or mad or have no choice (like retirees on Social Security). Get out! Get out! Get out! Put your retirement immediately into gold and silver (or into “Forever Stamps” ???)  . . . this government has not shown itself worthy of your trust.  
      Taking the tiniest step to purchasing old-fashioned hard money (gold and silver coinage) would have provided investors a boost of roughly 450% in the case of gold and 420% for silver in the last decade. WE ARE LIVING THROUGH INFLATIONARY TIMES . . . fiat, paper currency (paper money NOT backed by gold and silver) is at great risk. Of course, one can always buy bullion gold or silver . . . but the advantage especially of junk silver (90% silver U.S. coins minted before 1965) is that they come in a “package” people are used to dealing with. Robert Ringer (author of “Winning through <despite> Intimidation”) and Harry Browne (author of “How I Found Freedom in an Unfree World) as early as 1973 were touting the opportunity in “junk silver” following the LBJ years.     
      After LBJ, Carter and now after Obama gets through with us . . . junk silver looks to be among the smartest investments possible. Shortly after the government began taking the silver content out of dimes, quarters and half dollars (55.5% in 1965 under LBJ; and the rest in 1971 by Nixon) the price of silver reached $1.65 per ounce, the break-even point. Silver is now at $43.87 per ounce. When it reaches $51.15 per ounce it will have earned its investors in 1965 3000% gain plus the original value. Let’s say two more things about silver . . . .
     Silver is heavy, so for those hoping to store great wealth:  alternatives like gold, platinum and palladium are much more desirable in the short run. Let Rajjpuut urge you, however, to keep a lot of silver handy. Why? Because . . . .
A.                           Silver is a very, very handy and very recognizable unit of exchange for emergency uses and even for everyday purchasing.
B.                           A strange thing has happened in industry. Gold and silver have always been necessary for manufacturing especially in electronics for both metals and up to recently in photography for silver. The fact is that because of silver’s relative cheapness, it has been the preferred metal in industry. Since when used industrially, a metal is seldom recovered . . . silver, at any given time is now RARER than gold in human hands. (It’s still easier to mine silver which is often found with gold in the earth and more common, but silver because of its cheapness is used so much more frequently in industry that the amount of silver held for wealth repository or for jewelry is less than the amount of gold. Rarity makes things valuable so in Rajjpuut’s twisted mind, silver is the better buy.
C.                            Historically the easily most common ratio of gold to silver value has been in the 15/1 – 16/1 range. So if gold is worth $1500 than IF the ratio was holding, silver would be selling at $100 per ounce about $150 higher than its present value. So again the balance of value now favors silver.
      Silver, alas, is heavy. Gold, platinum and palladium are so very valuable that making small purchases with them is not feasible . . . here’s another alternative:  so-called “Forever stamps.”   Background: when he was a boy, Rajjpuut lived in Germany and had a brief spell as a junior philatelist, a stamp collector. One of the most remarkable things he experienced was the beautiful mint Adolf Hitler stamps he collected with tiny values like 60 pfenning (then 15 cents American) compared to stamps issued during the German Weimar Republic with enormously high values like 200,000 Deutsch Marks many of which even had the original cost blacked out or just lined through and a higher value printed upon them.   The four Deutsch Marks to a Dollar before World War I eventually reached $26 TRillion DM to the buck by November, 1923, at the height of their severe inflation (about the time Adolf Hitler became a well-known national name by attempting the “Beer-Hall Putsch” in Munich <that is, attempting a coup d’ etat at pistol point upon the Bavarian State>). What’s that got to do with the price of tea? The U.S. Post Office “leadership” has decided they can save on printing costs and inconvenience for customers and themselves by printing “Forever Stamps.” The post offices hope to avoid constant rushes of huge customer lines for 1-cent, 3-cent, 5-cent stamps, etc. in their facilities when they start changing stamp prices more frequently due to rising## inflation. 
      The idea is that stamps printed without a price label and only the words “First Class” written upon them will be issued. Again: notice that NO price will be shown. So, if say, the price of a first-class stamp is now $.50 and the cost of first-class postage increases to say $5.00 per letter in four years, for example . . . even though postage has increased nine times to now cost ten times the original value, the postal customers’ old stamps still do the trick. In INFLATIONARY times that’s a huge boon for the customer savvy enough to have bought in bulk early on in the inflationary history. Stamps, of course, are light but need more protection from the elements especially water. For convenience sake the best way to buy in Rajjpuut’s not-so-humble opinion is in 100 stamp rolls which come in a protective seal.    So a 100-roll of stamps today costs, say $50.00 and will do the same trick as a 100-roll of stamps four years from now, but the hundred-roll of stamps at that time in the future costs $500.00. For those doing a lot of posting, the value of keeping ahead of postal rates is obvious. For the rest of us, stamps can be used as a very convenient form of MONEY.
Of course, collectible stamps and coins are also great storehouses of value, however, unlike everyday items like ordinary silver coins and ordinary postage stamps -- which both can be used easily AS MONEY – collectible items are “illiquid.”   “Liquid” means easy to dispose of. Dollar bills are highly liquid, but valuable stamps or coins are hard to get rid of without losing a lot of money, because stamp collectors and coin collectors interested in paying you what the item is truly worth are hard to find especially during financial crisis.  Pawnshop dealers might give you 35%. So, at most only 5% or 6% of your “portfolio” should be tied up in illiquid assets whatever they be, unless you are amazingly rich . . . in which case, you’d buy lots of valuables and hie thee to a safer haven where inflation is not a prospect. Rajjpuut hope this overview on protecting your wealth helps. He also hopes his 100% wrong about the need to take such extraordinary means. However, in his estimation, these are desperate times courtesy of BHO and call for desperate measures.
##
      Is there any advantage from Forever Stamps for the Post Office, you might ask?  Once purchased, a forever stamp is a perpetual stamp that never expires or declines in value. It's value, therefore, is the First-Class Mail stamp postage rate for a one ounce letter at the time of use (not the purchase-day cost) . . . so isn’t the post office risking bankruptcy? Perhaps not! First of all, the Post Office gets an immediate cash flow. Nobody buys those 100-stamp rolls and uses all 100 immediately . . . if they’re such a big operation and need 100 stamps or more per day, they get a special rate and print their postage labels right at their business. These Forever Stamps are aimed at the individual postal customer. So the post office saves on employees manning their front counter and has all this cash to use now when prices are what they are now, not what they’ll be in the future . . . with good management (oh-oh?!) they’ll stay well ahead of the curve and might show a string of profits for once. However, if the hyper-inflation -- that Bernanke and Obama seemed hell-bent on giving us -- comes about, that might be a different story.   People all over the country who’ve bought up dozens or hundreds of Forever Stamps using them like money in exchanges with tiny businesses who use even five to ten stamps daily could put a dramatic strain on the post office finances. Besides Rajjpuut might go into the “Forever Stamp” counterfeiting business . . . .
 
 

Read more…

If ever we wondered just how out-of-control this administration's spending is, nothing makes an example better than the number of people now dependent on government.  This includes government jobs (doubled), food (off the charts), housing (in the tank), transportation (non-existent), energy resources (doubled), loans (pray), welfare, unemployment, and the list goes on.

At this point, it is becoming clear our real battle is in the budget and reducing the debt limit -- not increasing it. I'm done with what has become another $30 or $40 billion dollar reduction in the grand scheme of things.  This is getting serious, but the politicians are playing Monopoly, rather then their constitutional role of advise & consent.

In line with the upcoming budget and deficit battle, this Food Stamps graph is just from 2008! A clear example of Obama's spending problem.

Here's a Food Stamp Graph That Will Ruin Your Day http://bit.ly/icMB62

Read more…

WHAT WOULD DEMOCRATS CUT?

As Congress finally returns to work, many are reflecting whether or not they made the right choice in the GOP's "second chance" election. This doubt began within a few short weeks of the historic November 2010 election shellacking, and the shellacking began to fade away, as the Democrats appeared unsinged.

WHAT WOULD DEMOCRATS CUT?
It is understandable why the Senate is so afraid to offer its own spending plan. http://bit.ly/hCM34O

Read more…

THE DAMAGE OBAMA HAS DONE

With his new budget, Obama not only ducked our economic problems, he gave it his famous finger.  What was it that Tennessee Ernie Ford said -- "Another day older, and deeper in debt!  Saint Peter dontcha call me, 'cause I can't go.  I owe my soul to the company sto'e (that's the White House, my friends)" Debt, debt, debt.  Debt for you, for me, for our children, and for our grandchildren.  It's sinful, and the man in the White House has no conscience.

THE DAMAGE OBAMA HAS DONE 

"It's Debt On Arrival", Congressman Paul Ryan said. http://bit.ly/f0Weqa

Read more…

ACTIONS SPEAK LOUDER THAN WORDS, MR. PRESIDENT

"Actions speak louder than words." An old tried & true proverb said to me by my Mother over an entire childhood, and passed on by many common sense thinking families. Obama's State of the Union (SOTU) pep rally was so full of hyperbole, I lost count.

ACTIONS SPEAK LOUDER THAN WORDS, MR. PRESIDENT
Obama used his SOTU speech to disguise his liberal agenda in free-market, conservative rhetoric. http://bit.ly/fcGj5k

Read more…

earth_map.jpg


The oil spill has taken all the press as of late. It's a crime that with all our technology and trillion-dollar navy,

this country can deal with an oil leak a mile below the water. That part of the world is a place of historical

importance and true American beauty. How can it be worse to drill for oil above ground in an isolated area in Alaska?

All of these issues are important, but what's going to really hurt the economy isn't an oil leak. 100% debt vs GDP in 2015 may sound like an up important issue. Imagine for a moment you made $50,000 each year. Each year you borrowed $50,000 dollars. Your justification is that you need the money to increase you salary in the coming years.

In the past couple of weeks, I've been finding articles, mostly from Europe, on America looming debt/deficit crisis. Our oversees friends seem more involved in our financial well being than we do. Our media really is just a reflection of what America is interesting in watching and reading at a particular part of time.

Thus, the fiscal crisis doesn't have a live camera showing plumes of oil leaking into the gulf or dead birds washing up in thick crude oil. If you following the debt crisis as i have for the past year, the money begin spent and borrowed would amount to 50 oil leaks in every ocean and sea around the world.

Imagine for a moment a Satellite photo of earth. In one small area of the Gulf of Mexico, there's a black area of oil about the size of Connecticut - a horrible image for a beautiful part of the world. Then imagine that a country's debt could be visualized with red ink flowing across the land based on that country's debt. A country with 100% debt vs GDP would result in red ink flowing across 100% of that country's land.

The satellite image would show that almost all the land in the entire world would be covered in 100% red. Not only would most countries be red, they'd be dark red because their debt is beyond 100% GDP vs. Debt. The photo would show a world with blue water, except in one tiny blackened area of Gulf, with red inked land almost everywhere.

Does it matter?

Read more…

DeficitAid.com posted this article, below, found on the Wall Street Journal to point out the basic problem the American people have with Congress and it's ability to cut the deficit. This article, written by Steny Hoyer House Majority Leader, points out how difficult cutting the deficit will for Congress. Mandatory increases in entitlements are the main problem because they can't be cut. Thus, the only way to reduce the deficit is to raise taxes, but raising taxes on only the Americian's making over $250,000 per year isn't going to come close to solving the spending gap. The commission is going to recommend a huge tax increase on all American's.

Given the fact that there have been some extraordinary circumstances in the past few years, most American's are ready to swallow the bitter reality of smaller take home pay. What is most alarming about Mr. Hoyer's article and basic philosophy, which typifies the attitude in Congress, is the fact that he never discusses the idea of Congress living on a set budget. Why should he think that way? Congress is allowed to print as much money as they need to make up the deficit. They don't live in the real world of having a set amount of money to spend. Thus, they aren't put into a position of having to cut spending. The print and borrow more money on demand.

For example, the new Health Care laws, Mr. Hoyer sites in article, are predicted to cut the costs of The Health Care Entitlements Program. The cost setting measures in the bill are not based on a set budget. The costs savings are based on economic conditions that must happen in the future. If these predictions are wrong, the savings will not happen. Congress will be allowed to print more money to make up for getting bad info from their crystal ball.

On the other hand, when Congress raises taxes. The money is gone. This is an immediate here and now reality. American's don't get the money back if future economic conditions change. Congress asks the tax payer to make a difficult commitment to make less money, but Congress is not setting limits on what they can spend. The tax payer commits but congress doesn't. That's unfair!

This is what worries everyone in The United States. Citizens have to give up more of their paychecks, but Congress doesn't have to live on a set budget. If the new tax dollars don't reduce the deficits, they have the right to put the country into deeper debt by borrowing and printing more money. If that happens, Congress will be forced to come back to American public to ask again for more of their pay checks to cut the deficit.

Congress should be given a set amount of money to live on. It's called a budget. Make a law to do that first. Then come to the American Tax Payer to ask for more of their paycheck. Congress should show "us" they can live on a budget, and we will then give Congress more money. That's Fair!

Here's the article..


Read more…

The big debate in Washington is how to fix Wall Street. Wall Street’s greed caused the financial collapse. Wall Street earns too much money. Wall Street is the root of the problem in “haves” and “have-nots”.

H.R. 4173, Wall Street Reform and Consumer Protection Act of 2009 is bill that the House Committee on Financial Services has written to fix the problems with Wall Street. The bill’s intention will be to avoid another financial meltdown. The Chairman of this committee is Congressman Barney Frank.

The highlights of the bill are as followed:

1) Consumer Protections: A new consumer protection agency, CFPA, to protect Americans from Wall Street. The sounds good, but the idea of Wall Street is based on speculating. No bill can protect the consumer from loosing money on a bad speculation. However, this new agency, CFPA, will create more deficit spending, increase the national debt and reduce America’s ability to compete.

Read More at deficitaid.com....
Read more…

At deficitaid.com, I've been working for a year building content to inform, educate and entertain those interested in government spending, deficit spending and the National Debt. Our belief and approach is that this country can not change without first understanding the basic issues. Many don't know the difference between the deficit and National debt which is a real big problem. More don't even care - that's worse.

Using an animated cartoon character, Sensible Sally, with a bit of humor, iphone apps for National Debt Counter and providing a resource to find articles, videos and charts on government spending is what we are doing to try to spark an interest and debate.

Sensible Sally, the cartoon series, is currently running three episodes. My favorite is Monopoly Money. You can find it on the homepage deficitaid.com.

I'm happy to participate on this website.

Thanks.
Read more…

DECEPTION AS A PRINCIPLE OF GOVERNANCE

Everytime you hear the lie that Bush inherited a surplus when he took office after Clinton, always keep in mind "Every economic crisis we have suffered since WWII has been the result of Democratic Party malfeasance or misfeasance." There is another tidbit to always keep in mind -- The left lies all the time; they have to.

DECEPTION AS A PRINCIPLE OF GOVERNANCE

http://tinyurl.com/ygxp7w8

Read more…

BEHIND OBAMA'S PHONY DEFICIT NUMBERS

BEHIND OBAMA'S PHONY DEFICIT NUMBERSBy DICK MORRISPublished on DickMorris.com on February 1, 2010President Obama is being disingenuous when he says that the budget deficit he faced "when I walked in the door" of the White House was $1.3 trillion. He went on to say that he only increased it to $1.4 trillion in 2009 and was raising it to $1.6 trillion in 2010.Congressman Joe Wilson might have said "you lie," but we'll settle for "you distort."(As Mark Twain once said, there are three kinds of lies: "lies, damn lies, and statistics.")Here are the facts:In 2008, Bush ran a deficit of $485 billion. By the time the fiscal year started on October 1, 2008, it had gone up by another $100 billion due to increased recession-related spending and depressed revenues. So it was about $600 billion at the start of the fiscal crisis. That was the real Bush deficit.But when the fiscal crisis hit, Bush had to pass TARP in the final months of his presidency ( At the Request of the Obama Administration if you remember the begging) which cost $700 billion. Under the federal budget rules, a loan and a grant are treated the same. So the $700 billion pushed the deficit -- officially -- up to $1.3 trillion. But not really. The $700 billion was a short term loan. $500 billion of it has already been repaid.So what was the real deficit Obama inherited? The $600 billion deficit Bush was running plus the $200 billion of TARP money that probably won't be repaid (mainly AIG and Fannie Mae and Freddie Mac). That totals $800 billion. That was the real deficit Obama inherited.Then...he added $300 billion in his stimulus package, bringing the deficit to $1.1 trillion. This $300 billion was, of course, totally qualitatively different from the TARP money in that it was spending not lending. It would never be paid back. Once it was out the door, it was gone. Other spending and falling revenues due to the recession pushed the final numbers for Obama's 2009 deficit up to $1.4 trillion.So, effectively, Obama came close to doubling the deficit.Obama seems not to understand that the deficit is the jobs problem. To add to the deficit in the hope of creating more jobs is an oxymoron. Additional deficit spending just crowds out small businesses trying to borrow money to create jobs and consumers seeking credit to buy cars and homes.Soon, when the Fed stops printing money and we have to borrow real funds from real lenders, the high deficit will send interest rates soaring, further retarding growth and creating a cost-push inflation.The interest rate we are now paying for the debt -- about 3.5% -- is totally artificial and based on the massive injection of money supply created by the purchase of mortgage backed securities by an obliging Federal Reserve. Once these injections of currency/heroin stop, the rate will more than double, sending our debt service spending into the stratosphere. Once we had to choose between guns and butter. Now we will have to choose between guns and butter on the one hand and paying our debt service on the other.Obama's program of fiscal austerity in this new budget is a joke. He freezes very selected budget items while he shovels out new spending in his stimulus packages. If he wanted to lower the deficit, here's what he could do:1. Cancel the remaining $500 billion of stimulus spending and2. Cancel the $300 billion of spending in stimulus II.Those are the real numbers. Or, as Al Gore would have it, "the inconvenient truth."
Read more…

BEHIND OBAMA'S PHONY DEFICIT NUMBERS

Over and over again, Obama spouts "I inherited this deficit, I inherited this recession, I inherited this financial crisis, I saved America from the brink, I gave tax cuts (REBATES) to of America". I -- I -- I, and still it's not about him. Uh-huh. Of course, the numbers are a lie in order to show off his magnificence, but the true numbers are far more interesting.BEHIND OBAMA'S PHONY DEFICIT NUMBERSObama's program of fiscal austerity in this new budget is a joke.http://tinyurl.com/ykkuoc6
Read more…
In light of the spin we will inevitably be subject to tonight, let's get some real figures down. Firstly, a freeze is not a cut, and in order to get a grip on reducing our deficit, you have to reduce spending, Mr. President, but you already know that. That's just going to be Spin No. 1, and the most critical to our existance. Everything else takes a second seat, because if this county goes backrupt, the rest cannot be dealt with.PRESIDENT OBAMA IS RIGHT, WE HAVE A SPENDING PROBLEMCrippling debt caused by govt's inability to curb spendinghttp://tinyurl.com/yfk39mr
Read more…