Category Archives: debt

You Deserve This Depression!

I warned you.  I have been warning you for years.  Instead of listening to me, you decided to vote the way for Republicans and Democrats.  I warned that the spending can not continue.  You opted to vote for Republicans and Democrats because other parties “didn’t have a chance.”  You opted to vote for one of the parties who can’t balance a budget.  You voted for a party that believes that saving the middle class is to write a blank check to financial institutions, only to come back a month later because they need more money.

You voted for this shit.  Eat it.

Fuck you!  You DESERVE this Depression!

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Filed under debt, Democrat, Election, Libertarian Party, McCain, media, Obama, politics, Republican, spending, taxes, Washington

The Bailout – Will it Work?

In the last month, it seems like every financial giant was on the verge of failing.  Lines of credit began to freeze.  There were claims that the financial world is about to crumble unless government acted.  We were warned by President Bush, Treasury Secretary Paulson, and congressional leaders from both parties that if the government didn’t act, credit lines would freeze.  

Last Monday (September 29), the House failed to adopt the bailout as was presented to them.  The Senate added tax breaks for wooden arrow makers and rum producers to help the plan pass.  After much arm twisting, the House passed the plan on Friday.  

It is important to know that the financial sector throws in over $100 million in PAC money every year to both parties.  Many financial experts have been saying that the bailout plan will do little for the economy.  Buying bad debt will liquidate markets, but will not necessarily make it easier for small businesses to get a loan.

Credit lines were beginning to loosen on October 1, two days before the bailout bill was passed by the House and signed into law by President Bush.  They started to tighten again as soon as the bill was passed by the House.  Wall Street soon realized that the bill would not help most sectors of the economy and the bill would not do what it was intended to do.

What would have happened if Congress were to do nothing until after the election?  Credit lines would have gotten tighter temporarily, until the banks had enough capital generated from the loans it was collecting from.  The capital would have opened lines of credit because the banks need to give out loans to make money.  

The media did not tell the consequences of a bailout:  Since the treasury had to borrow money, it had to create $700 billion to loan to the financial sector affected by failing banks and corporations.  The end result is inflation.  Prices will continue to rise because the dollar is weakened because each dollar created by the treasury weakens the value of the dollars in the marketplace.  Precious metals like gold and silver rose iin value, mostly due to a weaker dollar.  The bailout bill did nothing to relieve what caused the root of the problem:  Congress mandating banks take sub-prime loans.  The government assured that the losses would be covered.  Foreclosures were happening at a faster rate than the government was expecting and soon the banks had so many bad loans, they did not have liquid assets to offer loans for anybody else. 

We need leaders.  We don’t need people who react in a panic mode when something goes wrong.  John McCain and Barack Obama both panicked and voted for the bailout package.  This is not the leadership we need to get us out of the economic mess that government caused.

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Filed under debt, Democrat, McCain, Obama, policy, politics, Republican, spending, Washington

Wake Up, America!

If you ever watched presidential debates from the past, one of the things you will notice is that many of the issues they were debating then are being debated today.  The two parties take turns playing “Good Cop, Bad Cop.”  The Democrats play the “good cops” by promising social programs.  The Republicans play “Good Cop” by offering tax cuts.  The two parties take turns playing the “bad cop” with our civil liberties.

Once upon a time, the United States had the best health care and the best education system in the world.  Then government got involved, and we have been in a downward spiral since.  Why has our education and health care systems gotten worse even as we throw more money towards them every year?  The answer is “Human Nature.”  The more one has, the more one wants.  

Another problem is that there is no accountability with government.  Some elected officials get caught in scandals.  Even when they are caught, little is done.  While Americans want to make a politician from an opposing party pay for his or her crimes, we make excuses when our officials fail ethically.

With less than two months until Election Day, the cable news network has been giving extensive coverage to the mainstream presidential candidates.  In spite of the coverage, little is known about their policies.  The media is too fixated on such urgent topics like lipstick on a pig and Obama’s middle name to spend time on the issues affecting America and the plans Obama and McCain plan to offer.  The two parties have stripped many of our liberties and have run up a $10 trillion debt. 

There are alternatives to the stranglehold the Republicans and Democrats have had on our country.  People will tell you that other parties don’t have a chance.  This is no excuse to give the Republicans and Democrats another chance.  Choosing between a Democrat and a Republican is like choosing between cyanide and arsenic as a health supplement.

Another problem is that both parties say one thing and do another.  Republicans claim to be fiscally conservative, but spend more than what is brought in from taxes.  Democrats claim to be against the war, but continue to fund it because they want to look “patriotic”.

The sooner we kick both of these anti-American parties out of Washington, the better chance we have of saving our country.

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Filed under debt, Democrat, Election, media, policy, politics, Republican, spending, war, Washington

The AIG Debacle – A Precursor to U.S. Federal Budget Woes

When will we learn?  Will we learn at all?

Fannie Mae, Freddy Mac, and AIG should be a lesson for us all – too much debt can wipe you out in a bad economy.  They needed major infusions of cash to save themselves. 

The United States is currently running a $10 trillion debt.  Who will save the United States if the government cannot pay off its debts?  What will happen to American sovereignty?  Why is the debt not being addressed by the media nor by the presidential candidates.

We need a balanced budget.  The best way to balance the budget is to cut spending.  Abolish or privatize all non-essential government services.  The government will be fine limiting itself to constitutionally essential functions.

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Filed under debt, Election, McCain, media, Obama, policy, spending, Washington

I’d Rather Have Earmarks!

Earmarks are unconstitutional but if there is anything good about them, it is that the monies go back to the communities.  Let’s take a look at what our statist candidates want to do with our money.

Senator McCain wants to send a man to Mars.  I would support his wanting that provided that it was privately funded.  Who knows, he might find some lost relatives there.

Senator Obama wants to increase taxes and keep more money in Washington in socialist programs where the majority of the monies get tied up in bureaucracy with little left for those it was intended to help.

Pork barrel spending is bad enough.  We really need to cut bureaucratic spending by abolishing or privatizing agencies like NASA, NEA, FDA, NIH, and the like.

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The President’s First Day in Office

The president’s first day in office

I hope whoever becomes our next president follows the steps outlined by the late Harry Browne on January 21, 2009. It would be nice if President Bush got the ball rolling and enacted the plan now.

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Filed under Bob Barr, debt, Election, libertarian, Libertarian Party, policy, politics, spending, taxes, Washington

Will Washington EVER Stop Deficit Spending? – “Vortex of Freedom” Radio

Tonight 6:00PM Eastern

The federal debt has risen from $1 trillion in the 1980s to $9 trillion today. Studies have shown that none of the “major” candidates will come close to reversing this trend. How much longer will there be a United States of America if this keeps up?

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Filed under debt, politics, spending, taxes