Broke U.S. resumes spending

[mike.redd1266]

I have a feeling we will never spend with in the US budget. Can we please get some accountants into office? Im sick of these "lawyers" trying to do jobs they do not know how to.

Found this article saying how we can help balance the budget by just cutting a few things.

Rare.us | JOHN STOSSEL: Broke U.S. resumes spending

So, let me make some suggestions: Eliminate NPR and PBS funding. Cut foreign aid. End the war on drugs. Kill Fannie and Freddie, which financed America’s mortgages and helped cause the financial crisis. Eliminate cabinet departments like Commerce, Energy, Agriculture and Education, all activities that happen without any need for the federal government. (Education is a local function, and the department spending $100 billion a year hasn’t raised test scores one bit.)

Shrink the military by reducing our overseas commitments. Reform Social Security by raising the retirement age. And, instead of increasing government involvement in healthcare, turn Medicare into a self-sustaining insurance program.

But, to save America from bankruptcy, we don’t even need to make all those cuts. We could grow our way out of debt if Congress simply froze spending. They won’t do that either, but if they limited spending growth to 2 percent per year, we could balance the budget in just three years.

Hopefully our representatives watch the news or have seen this. Maybe we can add finance classes at a local junior college in DC to the budget so all representatives can attend.

 

[Rebelitarian]

As Ye Sow, So Shall Ye Reap


Paul Craig Roberts
Prison Planet.com
October 24, 2013

The year 2014 could be shaping up as the year that the chickens come home to roost.


Image: White House.
Americans, even well-informed ones, don’t know all of the mistakes made by neoconized and corrupted Washington in the past two decades. However, enough is known to see that the US has lost economic and political power, and that the loss is irreversible.

The economic cost of this lost will be born by what remains of the middle class and the increasingly poverty-stricken lower class. The one percent will have offshore gold holdings and large sums of money in foreign currencies and other foreign assets to see them through.

In the political arena, the collapse of the Soviet Union presented Washington with the grand opportunity to reallocate the Pentagon budget to other uses. Part of the reduction could have been returned to taxpayers for their own use. Another part could have been used to improve worn out infrastructure. And another part could have been used to repair and improve the social safety net, thus insuring domestic tranquility. A final, but perhaps most important part, could have been used to begin repaying the Treasury IOUs in the Social Security Trust Fund from which Washington has borrowed and spent $2 trillion, leaving non-marketable IOUs in the place of the Social Security payroll tax revenues that Washington raided in order to fund its wars and current operations.

Instead, influenced by neoconservative warmongers who advocated America using its “sole superpower” status to establish hegemony over the world, Washington let hubris and arrogance run away with it. The consequence was that Washington destroyed its soft power with lies and war crimes, only to find that its military power was insufficient to support its occupation of Iraq, its conquest of Afghanistan, and its financial imperialism.

Now seen universally as a lawless warmonger and a nuisance, Washington’s soft power has been squandered. With its influence on the wane, Washington has become more of a bully. In response, the rest of the world is isolating Washington.

The prime minister of India, Manmohan Singh, recently declared China and Russia to be India’s “most important partners” with whom India shares “common strategic interests.” Prime Minister Singh said: “ India and Russia have always had a convergence of views on global and regional issues, and we value Russia’s perspective on international developments of mutual interest.”
A d v e r t i s e m e n t
India joined China in expressing concerns about the Federal Reserve’s practice of printing money in order to cover Washington’s vast red ink. The BRICS (Brazil, Russia, India, China, South Africa) are taking steps to create their own method of settling trade accounts in order to protect themselves from the looming dollar implosion,

China has forcefully called for a “de-Americanized world.” After watching the “superpower” offshore a large part of its GDP to China and then add to the diminished tax base the burden of $6 trillion in wars that brought no booty and served no US interest, China has concluded that American power is spent. The London Telegraph thinks “it is only a matter of time before the renminbi replaces the dollar as the primary currency for trading commodities and resources.”

The Obama regime attempted to attack Syria based on the sort of lies that the Bush regime used to invade Iraq, only to be slapped down by the British Parliament and Russian government. This rebuke was followed by the childishness of the government shutdown and threat of default. Consequently, the Washington morons have lost their monopoly on economic and political leadership. A few days ago the British government announced a historic agreement that permits British investors direct access to China’s markets and allows Chinese banks to expand their operations in Great Britain.

In Australia, the US dollar will no longer be used as the currency in which to settle the Australian trade accounts with China. Instead of dollars, trade will be settled in the Chinese currency.

Washington served as cheerleader, as did most economists and libertarians, while US corporations, greedy for short-term profits and executive bonuses, offshored US industry and manufacturing, calling it free trade. The obvious and predicted result is that China’s demand for resources needed to fuel its industrial and manufacturing power now dominates markets. This means that the US dollar is being displaced as world currency. The only market that America dominates is the market for financial fraud.

When industrial, manufacturing, and tradeable professional service jobs are offshored, they take US GDP and tax base with them. The foreign country gets the benefit of the relocated economic activity. Due to the revenues lost from jobs offshoring, there is a large gap between federal revenues and federal expenditures. As Washington’s irresponsible behavior has raised so many doubts about the dollar’s value and the government’s commitment to stand behind its massive debt, foreign countries with trade surpluses with the US are less and less willing to recycle those surpluses into the purchase of US Treasury debt.

Today the two largest holders of US Treasury debt are not investors or even foreign central banks. The two largest holders are the Federal Reserve and the Social Security Trust Fund.

As for those $6 trillion wars, that’s to pay for national defense to protect us from women, children, and village elders in far away countries devoid of air forces and navies, and to provide those recycled taxpayer monies from the military/security complex that find their way into political contributions.

The Wall Street gangsters sighed for relief over the last minute debt ceiling agreement. This shows how short-term Wall Street’s outlook is. All the October agreement did was to push off the crisis to January and February. The “debt ceiling agreement” did not produce a new debt ceiling that would last beyond February, and it did not resolve the large difference between federal revenues and expenditures. In other words, the can was again kicked down the road. A repeat of the October fiasco won’t play well.

Obamacare is causing the premiums on private insurance polices to rise substantially, almost doubling in some situations unless people move to the uncertain exchanges, and Obamacare’s raid on Medicare payroll tax revenues has resulted in a cut in Medicare payments to health care providers. The result is a further reduction in consumer discretionary income and a further drop in the economy.

This in turn means a larger federal budget deficit and the need for the Federal Reserve to purchase more debt.

Entire article: Prison Planet.com » As Ye Sow, So Shall Ye Reap

 

[Rshermr]

Jesus. we are all truly impressed that you can copy and paste from bat shit crazy web sites like prison planet. Do you EVER use rational sites??

 

[Rshermr]

I have a feeling we will never spend with in the US budget. Can we please get some accountants into office? Im sick of these "lawyers" trying to do jobs they do not know how to.

Found this article saying how we can help balance the budget by just cutting a few things.

Rare.us | JOHN STOSSEL: Broke U.S. resumes spending

So, let me make some suggestions: Eliminate NPR and PBS funding. Cut foreign aid. End the war on drugs. Kill Fannie and Freddie, which financed America’s mortgages and helped cause the financial crisis. Eliminate cabinet departments like Commerce, Energy, Agriculture and Education, all activities that happen without any need for the federal government. (Education is a local function, and the department spending $100 billion a year hasn’t raised test scores one bit.)

Shrink the military by reducing our overseas commitments. Reform Social Security by raising the retirement age. And, instead of increasing government involvement in healthcare, turn Medicare into a self-sustaining insurance program.

But, to save America from bankruptcy, we don’t even need to make all those cuts. We could grow our way out of debt if Congress simply froze spending. They won’t do that either, but if they limited spending growth to 2 percent per year, we could balance the budget in just three years.

Hopefully our representatives watch the news or have seen this. Maybe we can add finance classes at a local junior college in DC to the budget so all representatives can attend.

John Stossel is not the news, me boy. John Stossel is simply entertainment for cons. Jesus, you like to waste time.

 

[Rebelitarian]

Jesus. we are all truly impressed that you can copy and paste from bat shit crazy web sites like prison planet. Do you EVER use rational sites??

Show me something batshit crazy that isn't true from Prisonplanet ?

What's the matter am I bursting the phony left right paradyme here and forcing people to see America for how it truly is ??

Good !!!!!!!!!!!!!!!

The Globalists will be less tactful and less sympathetic than I will.

 

[Rebelitarian]

I have a feeling we will John Stossel is not the news, me boy. John Stossel is simply entertainment for cons. Jesus, you like to waste time.

He and Lou Dobbs are the only thing keeping FOX with any ratings.

Everyone else would make FOX fail.

 

[Rozman]

It just doesn't make sense for the Democrat run government to spend less then they take in.
If they did they would not be able to scream for higher taxes to get more revenue so they can spend
even more.

 

[Rshermr]

Jesus. we are all truly impressed that you can copy and paste from bat shit crazy web sites like prison planet. Do you EVER use rational sites??

Show me something batshit crazy that isn't true from Prisonplanet ?

What's the matter am I bursting the phony left right paradyme here and forcing people to see America for how it truly is ??

Good !!!!!!!!!!!!!!!

The Globalists will be less tactful and less sympathetic than I will.

PrisonPlanet is a "news" website operated by Alex Jones, a radio presenter and heroic source of truth to people who can't fart without blaming it on a conspiracy of bean producers. The site takes an almost overwhelmingly negative stance towards all recent presidents and regards government and corporations with a suspicious and twitching eye. While the latter is not necessarily a bad thing in itself, PrisonPlanet goes beyond healthy skepticism to a mind-boggling extreme — you'll soon find that PrisonPlanet takes everything to mind-boggling extremes. The bulk of the site is made up of conspiracy related stories and advertisements hawking the kinds of products valued by keen conspiracy theorists.

Alex Jones relies on the paranoia of a dystopian future, and promotes it through PrisonPlanet's blog, his radio show and his online store. The blog features articles that instil fear of vaccination,[1] promote conspiracy theories (see list below) and support alternative medicine,[2][3] because the big bad drug companies want your money and to keep you addicted. Very little of this is actually based in reality, and in most cases, small statements of truth are projected into full-blown paranoia.

Conspiracy theories promoted by PrisonPlanet
The conspiracy theories category lists many more which would also probably be promoted by Alex Jones. This is a partial list. The Bilderberg Group is controlling governments around the world[6]
A New World Order is set to kill 20% 40% 70% almost everyone[7]
Various secret societies, including Skull and Bones,[8] Freemasons[9] and others are behind contemporary politics, governance, society and economics
The devastating December 26 tsunami in south-east Asia was manmade.[10]
Hurricane Katrina was an opportunity to test out the FEMA concentration camps[11]
If they believe a big-ass ocean event wasn't made by an undersea earthquake but by humans, you bet they believe 9/11 was an inside job[12] (oh, and so were the London bombings[13])
The government is using chemicals to create gay people. [14]
Hunter S. Thompson,[15] Gary Webb[16] and Princess Diana[17] were all murdered to cover up what they knew about the New World Order, or whatever.

PrisonPlanet - RationalWiki

Your life seems to revolve around this site and the drivel it promotes. You are being dishonest by using a site like this, which is well known as nonsense, and suggesting someone take the time to disprove it. Because, of course, you are simply wasting people's time. If you have a specific issue, bring it out and provide some fact based information from a non partial site. That is, instead of the continuing cut and pate routine you are engaged in.

 

[expat_panama]

... if they limited spending growth to 2 percent per year, we could balance the budget...

Nobody wants to mention the elephant in the room: interest payments.

Right now interest rates on the debt are about one percent but we're still paying a $quarter Tril. yearly. That's what we were paying five years ago so the amount has been manageable, but back then the rates were more like six percent. The elephant just crapped. When rates go back up to normal (as they began to a few weeks ago) we'll be paying well over a $trillion/year.

That means limiting total spending growth to 2 percent per year means slashing all existing spending by a third!