S&P downgrades US debt

“If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.”

– Dave Ramsey

3 months ago S&P downgraded the economic outlook on US debt from “stable” to “negative.”

Last week Moody’s downgraded the economic outlook on US debt from “stable” to “negative.”

Last night S&P downgraded the US debt from it’s sterling “AAA” rating to” AA+ with a negative outlook.”

Just like S&P and Moody’s didn’t downgrade subprime CDOs until the mortgage-backed bonds they held were practically worthless, S&P waited for U.S. debt obligations to reach five times GDP and for the U.S. dollar to lose 84% of its purchasing power over the course of a single decade.

 

Stand Up Middle Class!!!!

545 vs. 300,000,000 People  

        -By Charlie Reese

Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?

Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?

You and I don’t propose a federal budget. The President does.

You and I don’t have the Constitutional authority to vote on appropriations. The House of Representatives does.

You and I don’t write the tax code, Congress does.

You and I don’t set fiscal policy, Congress does.

You and I don’t control monetary policy, the Federal Reserve Bank does.

One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.

I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.

I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don’t care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator’s responsibility to determine how he votes.

Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.

What separates a politician from a normal human being is an excessive amount of gall.  No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating  deficits. The President can only propose a budget. He cannot force the Congress to accept it.

The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? John Boehner. He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want.  If the President vetoes it, they can pass it over his veto if they agree to.

It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted — by present facts — of incompetence and irresponsibility. I can’t think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal  government, then it must follow that what exists is what they want to exist.

If the tax code is unfair, it’s because they want it unfair.

If the budget is in the red, it’s because they want it in the red.

If the Army & Marines are in Iraq and Afghanistan it’s because they want them in  Iraq and Afghanistan ….

If they do not receive social security but are on an elite retirement plan not available to the people, it’s because they want it that way.

There are no insoluble government problems.

Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like “the economy,” “inflation,” or “politics” that prevent them from doing what they take an oath to do.

Those 545 people, and they  alone, are responsible.

They, and they alone, have the power.

They, and they alone, should be held accountable by the people who are their bosses.

Provided the voters have the gumption to manage their own employees…

We should vote all of  them out of office and clean up their mess!

Charlie Reese is a former columnist of the Orlando  Sentinel  Newspaper.

What you do with this article now that you have read it… is up to you.
This might be funny if it weren’t so  true.
Be sure to read all the way to the end:

Tax his land,
Tax his bed,
Tax the table,
At which he’s fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his work,
Tax his pay,
He works for
peanuts anyway!

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries
Tax his tears.

Tax all he has
Then let him know
That you won’t be done
Till he has no dough.

When he screams and hollers;
Then tax him some more,
Tax him till
He’s good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he’s laid…

Put these words
Upon his tomb,
‘Taxes drove me
to my doom…’

When he’s gone,
Do not relax,
Its time to apply
The inheritance tax.

Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
  Telephone    State   and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax

STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.

What in the heck happened?  Can you spell ‘politicians?’

I hope this goes around THE USA at least 545 times!!!  YOU can help it get there!!!

           GO AHEAD. . .  BE AN AMERICAN!!!

Roman economy VS modern day United States

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.”
-Cicero , 55 BC (who said history doesn’t repeat!?)

State of the Union…”Don’t nothin ever change??”

By: Joshua Gamen

We already knew President Obama had polished speaking skills, now he’s got jokes too. I must admit that I really liked some of the points made by President Obama in his State of the Union address to the nation. I liked how he was optimistic and talked about the positives of our future. I was frustrated however to see him ignore huge issues and appear to say exactly what the masses want to hear, despite his actions in office.

I did not like how the President began the speech by talking about how great the recovery is in the first 5 minutes, stating that Corporate profits are up as well as Wall Street’s with the Dow Jones. He failed to mention unemployment is still crucifying us and the dollar is becoming worthless, or that millions of Americans are still losing their homes to the banks..

It frustrates me that politicians think they are economists. Sometimes it frustrates me that economists think they are economists tho too(Hah). In relation to the deficit(the governments budgets which currently spends more than it takes in.), President Obama talked about the cuts they would make for hundreds of billions of dollars. He failed to touch on the fact that we are a few months away from hitting the federal debt ceiling(the limit in which the government has reached it’s limit on how much it can borrow to spend, which can only be raised by an act of Congress.) The truth of the matter is, when we hit that debt ceiling later this spring, only one of two things can happen, and neither is good. Either Congress can deny raising the debt ceiling, which will cause America to default on it’s loans and cause a global crisis which would devestate trade and employment, or they can raise the debt ceiling, which would allow for the printing presses to ramp up even more and devalue the dollar further in order for the government to pay their debt with monopoly money. The latter would also devalue American’s savings, checking, and retirement accounts, not to mention make your pay check buy you less. Quite the catch 22 here, but no, it wasn’t touched on tonight, not important enough for the “state of the union” I guess..

Another thing that wasn’t touched on, was the fact that medicare and medicaid are broke. The President did say that he was open to all suggestions on ways to make the current health care bill more affordable, but God forbid him from telling the American people that the government funds for medicare and medicaid don’t have any money, and are simply a ponzi scheme in which the current costs are paid by new taxes to cover the fact that there is no money in the funds. Nope, he just said that he is going to continue to push “free” health care for everyone. After all, what does it matter that the current government funded health programs don’t have any more money, they can just print more anyways. Nobody will notice that is just causes our money to be worth less and less, and the cost of living to go up and up..

In relation to finance, the President said everything that everyone wants to hear. The problem is however, he speaks in fairy tales. He didn’t mention that the dollar is falling like never before, that paychecks are thinner than ever, that unemployment is still crippling the production of our nation, that China is crushing us with production and exports, that the world is no longer buying our biggest product(debt), that China is trying to make their currency(the Yuan) the reserve currency of the World. No…none of that was mentioned.

All Mr. Obama did was pushed for new government spending on infrastructure projects, education, and scientific research while calling for deep cuts in other parts of the nation’s budget.

The President spoke about how we need to “level the playing field,” by not extending the tax breaks to the top 2% of the population in terms of income.(The group that is responsible for creating the most jobs in our country by the way, and are responsibly for majority of donations and charities that exist in our nation..) He said that it doesn’t make any sense that people who have accountants and attorneys can get away with not paying taxes, while the rest of the people get stuck with the bill. This translates in my book to, “bye bye middle class.” The President was put in office by the richest men in the world, he surely is not going to make them pay more taxes, hell, they benefit from taxes, especially the biggest tax of all(inflation). The way to level the playing field is not by stopping tax cuts to the top 2% in income, the way to level the playing field would be to extend tax cuts to the bottom 98% in terms of income. Make it so that the middle and poor class pay the same amount of taxes as the true rich.(Who account for less than 1/10 of 1% of the world’s population..)

I agree completely with President Obama on the fact that we need more good teachers in our country. I agree with him that our teachers are our “future makers” of our nation as well. However, I don’t understand that he can acknowledge how important teachers and education are, but leave out anything to do with financial literacy not being taught in our schools. Maybe if we taught about the difference between as asset and a liability in the classroom, or cash flow and capital gains, then we would not have these MASSIVE spending deficits in our country…just a thought.. My financial mentor Robert Kiyosaki put it this way, “It’s my belief that the countries that prosper in the future will be those that properly educate their people about money and investing. If the US desires to be competitive, it must teach its children how to be financially intelligent and to stop living by the old rules of money.”

The President mentioned that we will be bringing home our troops from Iraq this year. Neat, didn’t he say he would be bringing them home as soon as he took office?? Let’s face it, the troops are not over there to preserve democracy or freedom for Iraqi’s, they are there because that land is rich in oil.

What I got out of the speech the most was this, “Government, both sides, Democrats and Republicans, we need to work together to continue to take care of the country. The people need us, we have the answers to everything, but only if we work together.”

I’m sorry, I’m just not much for big government. It seems to me that any government that tries to do to much, doesn’t do anything enough correctly.

What I would have liked to see addressed(which I’m not surprised at all that they weren’t) are the following issues: unemployment, unfunded liabilities(such as medicare, medicaid, and social security), inflation, and financial education.

I will continue to stay educated financially, so that regardless of what the government does with the tax laws or to our currency, I am sheltered and secure financially, as is my family. I urge others to do the same. What I beg of you however, is that you do not simply listen to the President, or anyone else for that matter, but that you also WATCH their actions. If you want to stay REAL, follow the government’s ACTIONS, not their WORDS.

PS: We all saw you in the audience with that stick up your ass Nancy Pelosi, and I personally wanted to backhand you more than ever.