It is possible to balance the budget of the leviathan if we want it....
Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-
Sheila Bair, probably one of the most competent people in the US central government today when it comes to financial matters, has this to say about government expenditures and worries that the next financial crisis will come from an engorged on debt Washington D.C.....
Retiring baby boomers, who will live longer on average than any previous generation, will have a major impact on government spending. This year, the combined expenditures on Social Security, Medicare and Medicaid are projected to account for 45 percent of primary federal spending, up from 27 percent in 1975. The Congressional Budget Office projects that annual entitlement spending could triple in real terms by 2035, to $4.5 trillion in today's dollars. Defense spending is similarly unsustainable, and our tax code is riddled with special-interest provisions that have little to do with our broader economic prosperity. Overly generous tax subsidies for housing and health care have contributed to rising costs and misallocation of resources.On entitlements: The nation will not be able to pay for the healthcare and monthly retirement checks of these baby boom seniors despite collecting taxes and making these promises to these people for their entrire lifetimes.
Unless something is done, federal debt held by the public could rise from a level equal to 62 percent of gross domestic product this year to 185 percent in 2035. Eventually, this relentless federal borrowing will directly threaten our financial stability by undermining the confidence that investors have in U.S. government obligations. Financial markets are already sending disquieting signals. The cost for bond investors and others to purchase insurance against a default by the U.S. government rose markedly during the financial crisis, from an annual premium of less than 2 basis points in January 2007 to 100 basis points in early 2009, before falling to the current level of 41 basis points.
The debt commission, formed by the socialist Obamessiah, is dead on arrival as people both receiving and expecting government handouts are loath to give up what they have 'earned' over a lifetime. Too bad that these funds, that they supposedly paid in and have been 'earned,' righteously claimed by those that want their handouts not realizing or not caring that these funds actually do not exist and they are demanding payment even from those people that are even less capable of paying these bills.
"We had the greatest generation -- I think this is the greediest generation," he said.I think that American seniors and all others that somehow have convinced themselves that they deserve such things as free healthcare and a monthly stipend are nothing but parasites and it is about time that they are identified as what they are.
You cannot help the poor by destroying the rich.The quotes were published in 1942 by William J. H. Boetcker, a Presbyterian minister. He released a pamphlet titled Lincoln On Limitations, which did include a Lincoln quote, but also added 10 statements written by Boetcker himself.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away people's initiative and independence.
You cannot help people permanently by doing for them, what they could and should do for themselves.
If Obamacare is constitutional, we have experienced the demise of limited government. If the government can, among other things, command citizens to purchase health insurance of a prescribed shape and size, you can bet it will be using this power in a variety of (other) unpleasing ways in the future. It's just a matter of time. As the Tea Party folks recognize, it's time to take a stand.From here. The central government through these kind machinations have effectively gained total control over your lives.
Few legal scholars have blown as many minds and had the tangible impact that Richard Epstein has managed. His 1985 volume, Takings: Private Property and the Power of Eminent Domain is a case in point. Epstein made the hugely controversial argument that regulations and other government actions such as environmental regulations that substantially limit the use of or decrease the value of property should be thought of as a form of eminent domain and thus strictly limited by the Constitution. The immediate result was a firestorm of outrage followed by an acknowledgment that the guy was onto something.From here.
The current economic crisis is the result of government tax policy that encourages spending over savings. The resulting debt build-up totalled 350% of GdP but it may not be a meaningful number.
To prevent an unending upward spiral of debt would require huge spending cuts or tax increases. The IMF report doesn't suggest that those be made immediately, because doing so might cripple the fragile economic recovery. But the report does argue that without these adjustments, government debts could become unmanageable.From the leftist Newsweek, here. An you foolish people that think that there will be Social security retirement income or healthcare available to you from the government, you are in for a very rude awakening. And if you do somehting so stupid as save for the expenses as a retiree, then you will be the one that will lose the benefits first!!!!! Ha ha ha.
To show the size of needed changes, the IMF performed one final exercise. It estimated the spending cuts or tax increases needed over the next decade to return a country's debt-to-GDP ratio to 60 percent by 2030. For the United States, the changes would amount to 8.8 percent of GDP. In today's dollars, that's about $1.2 trillion and roughly a third of the existing federal budget. But again, some other countries would face even larger adjustments: 12.8 percent of GDP for Great Britain, 10.7 percent for Spain, 13.4 percent for Japan, 11.8 percent for Ireland, and 9 percent for Greece. For France and Germany, the required changes would total 6.1 percent and 3.4 percent of GDP, respectively.
I have of very strong thoughts on this but the principle one is that Soros must be dealing with a very severe case of demented senility. He is just making another argument for the weak concept of the authoritarian 'benevolent dictator'. This school of thought looks at performance of the dictator in a very limited time frame or limited portfolio of problems without considering the issues associated with being stuck with this dictator well after the strong armed solutions are no longer are needed. Authoritarian governments have 2 big weaknesses; First, they shun or eliminate new ideas and fresh approaches and assign them to prisons, exile or caring for pigs. Even benevolent dictators do not tolerate dissent and this is very true in China today. Second, a nation is stuck with the approach that this dictator uses for solving problems. These are typical ideological solutions and this approach is applied for decades to every problem.
When going out for periods of time in the sun, its not just required to slather on sunscreen. Sunscreen will cut down on ultra-violet light waves that can burn the skin, but also reduces the vitamin D that is so critical to one's health.....
Middle class children in the south of England are suffering from the '17th century disease' rickets as parents cover them in sunscreen and limit time outside in the sunshine, a leading doctor has warned.This is the kind of discussions that we have had at home. No need to put on sunscreen late in the afternoon. No need to do it either when exposure time is limited.
When a Liberal runs for national office he or she lies to you. When a conservative runs for office he or she has no trouble telling you honestly what he or she is going to do.From here.
-R. Emmett Tyrrell, Jr., founder and editor in chief of The American Spectator-
As we have heard over-and-over from the socialists in our midst, healthcare is fierce moral urgency that has been sold to us on many fronts. Some have wrongly argued that it is for poor people when this is just absolutely silly since the poor's healthcare is already provided under Medicaid. Others argue, that somehow, completely against historical experience, that government will mystically figure out how to redistribute the goods and services of healthcare cheaper, a simply ludicrous assertion. Its astonishing me that people put this kind of faith in government. Another aspect argued as to why government has to insert itself directly in the middle of our health choices and decisions, is that there are loads of people that are suffering and presumably dying, theatrically, sometimes in total agony, since they are excluded from receiving healthcare due to their pre-existing conditions.
Combined federal-state enrollment is merely 8,011 nationwide as of November 1, according to HHS.Let this sink in. WE are shifting 100's of billions of dollars of healthcare spending, rules, commissions and massive bureaucracy to serve.... 8,011 people. And this figure is relative to the estimate by our brilliant US Government that 375,000 people would have been signed up by this date with further expectations that an additional 400,000 or so per year will be added to the roles. So, our busy at work US Government has fallen short of their expectation by about 97.8%. If this is any indicator of
1. How knowledgeable they are on the supply and demand for services supposedly as critical as this andwe are in store for a disaster of biblical proportions.
2. their ability to actually get the goods delivered,
Increase regulation has the side effect of increasing expenses. It takes more eyeball, more bodies on each piece of business to meet the new regulations. This is true in the banking industry but it is also true for every single business where increased regulation is foisted upon providers....
While the decision wasn’t a reaction to any of the new U.S. rules for Wall Street, it was partly in response to increasing regulatory scrutiny, one of the people said.So for all of you people that consider regulation by the US government as necessary and net positive for American society consider these thoughts:
1. What measurable benefits are there to regulation.Of course no one should feel sorry for the $1-5 million in asset customers of Goldman Sachs, they will move to other banking companies that will love to serve them as customers, but this is just indicative of what goes on in every company in the business and other industries when new regulations and these new expenses are foisted upon participants.
2. Does the regulation actually provide greater benefits than costs and is it reasonable to make these cost benefit assumptions?
3. Is it acceptable that these increased costs be passed on to the customers, remember that someone has to pay for them.
4. Is it acceptable that the increased costs of regulation be borne by the smallest customers as is inevitably the case.
5. Does government actually have any idea what they are doing?
6. Will government be able to adjust the regulation as times change since they have been very slow or have not been able to in the past.
7. Is government actually doing this to 'prove' that they are involved in protecting people even if it is ineffective and this will only be proved possibly decades out.
Moderation in temper is always a virtue; but moderation in principle is always a vice. -Thomas Paine-
Ha ha ha ha. For all of you frothing at mouth political liberals that are deranged anti-Sarah Palin people; She made $14 million this year! One of the top 10 paid political pundits according to this Newsweek story. I just totally love this!!!!
Here is a little test that will help you decide.
Mercantilism, whether it is practiced by China today, Japan in the 1980's or the direction that the American Democrats want to take the USA, it will not work and has caused economic dislocation and in some cases, war. Mercantilism is a form of economic nationalism and is preferred by those in positions of economic power to reduce competition. Mercantilists and mercantilism assume that wealth and monetary assets are identical and that one can effectively protect markets through legislation and border interdiction. Mercantilism suggests that the ruling government should advance these goals by playing a protectionist role in the economy by encouraging exports and discouraging imports, notably through the use of subsidies and tariffs respectively. The theory dominated Western European economic policies from the 16th to the late-18th century.
The Austrian lawyer and scholar Philipp Wilhelm von Hornick, in his Austria Over All, If She Only Will of 1684, detailed a nine-point program of what he deemed effective national economy, which sums up the tenets of mercantilism comprehensively:
* That every inch of a country's soil be utilized for agriculture, mining or manufacturing.
* That all raw materials found in a country be used in domestic manufacture, since finished goods have a higher value than raw materials.
* That a large, working population be encouraged.
* That all export of gold and silver be prohibited and all domestic money be kept in circulation.
* That all imports of foreign goods be discouraged as much as possible.
* That where certain imports are indispensable they be obtained at first hand, in exchange for other domestic goods instead of gold and silver.
* That as much as possible, imports be confined to raw materials that can be finished [in the home country].
* That opportunities be constantly sought for selling a country's surplus manufactures to foreigners, so far as necessary, for gold and silver.
* That no importation be allowed if such goods are sufficiently and suitably supplied at home.
The fabled land of Cathay was once the only source for the most desirable luxury goods in the history of world trade—silk, tea and porcelain. So it's curious that the Mongolian national dress is made from brightly colored silk, while the Chinese traditionally wore coarse blue cotton. Likewise, many people around the world say they drink "English" tea and not Chinese tea. And the finest "china" is made in European cities like Meissen, Germany, rather than Jingdezhen.Additionally,
China's rulers sought to monopolize the production and trade in all these products. When they restricted trade, Central Asian nations like the Huns or the Mongols who controlled the trade routes turned to war. The "barbarian" tribes forced the Chinese to pay tribute in the form of rolls of silk. Or worse, some decided to overrun China and set up their own dynasties.
A Chinese deputy foreign minister has this to say about proposals made by the USA.....
that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back “to the days of planned economies”.China knows socialism and these kinds of dopey economic policies when they see them, since they tried them all already and have tasted the miserable failure.
But on Thursday and Friday, governments focused instead on the global impact of the Fed’s action. “With all due respect, US policy is clueless,” Wolfgang Schäuble, German finance minister, told reporters. “It’s not that the Americans haven’t pumped enough liquidity into the market,” he said. “Now to say let’s pump more into the market is not going to solve their problems.”I love this word "clueless" since it completely encompasses current US policy.
Germans calling anyone, cold, arrogant and elitist is absolutely amazing since this is exactly what they are......
J&D Foods, a company that specializes in all things bacon -- including bacon-flavored envelopes and the bacon Kevin Bacon sculpture that made headlines recently -- has taken the obsession one step further by coming up with a new drinkable pork product: bacon-flavored soda.Probably not going to be a big seller in the Middle East.
On to the aftermath of the election. On Wednesday President Obama gave a news conference to share his thoughts. Viewers would have found it disappointing if there had been any viewers. The president is speaking, in effect, to an empty room. From my notes five minutes in: "This wet blanket, this occupier of the least interesting corner of the faculty lounge, this joy-free zone, this inert gas." By the end I was certain he will never produce a successful stimulus because he is a human depression.Ack. I have always looked upon the Obamessiah as humorless individual and one that believes in his own deserved elitism. This is not a man of the people.
Actually I thought the worst thing you can say about a president: that he won't even make a good former president.
State and local government spending as a percent of GDP has been rising dramatically in recent years and this will inevitably cause some governments to default on their obligations......
"Progressivism is the belief that we have too much freedom with which to make too many stupid choices." Of course, the thinking goes that enlightened Democrats know what is better for you than you do. The concept of the 'benevolent dictator' is juvenile and seeks to force a minority position or belief upon a free thinking people. Hopefully the resounding defeat of the statist Democrats in yesterday's election will stop the hard left Marxist shift that has been experienced in the US in recent years.
A successful rancher died and left everything to his devoted wife. She was a very good-looking woman and determined to keep the ranch, but knew very little about ranching, so she decided to place an ad in the newspaper for a ranch hand.
This is the year of the extremist....
This year, there is scarcely a Republican running in a competitive race who has not been called “an extremist” by his or her opponent, and the opponent’s allies. Often those allies have included the media. These charges are often accompanied with a claim that the allegedly extremist Republican is not like Republicans of previous decades. It is true that some of the fiscally conservative Republicans on the 2010 ballot are different from their spendthrift predecessors. But one thing that has not changed in politics is the charge of “extremism.”Yes, fiscal conservatism is extremist and that therefore means that anyone that balances a budget is an extremist. Its as if the Socialist Democratic Party thinks that what normal people and businesses do every day; Live Within Their Means, is an extremist position.
When Ronald Reagan first ran for elective office, Governor of California in 1966, the opposition attempted to tar him as an extremist. Reagan was running against incumbent Governor Pat Brown, father of the 2010 Democratic California gubernatorial nominee Jerry Brown. Notwithstanding the extremist charges, Reagan won the election, and served two terms as California Governor, and then two terms of President of the United States. Let’s take a look at that the use of the extremism issue in 1966 campaign.
This really gets it all.....
That America elected a grown man with the politics that I had as a 18-25-year old stoner, America-hating, Fidel-admiring, “democratic” socialist was more than a little surprising to me. Positively freaky-deaky.Ha ha ha. He fooled you!