Editorial
Debt Burden Threatens American Families
Last week, as most Americans were celebrating the holidays with family and friends, the Obama Administration announced plans to seek yet another debt ceiling increase in the New Year. While some fiscal conservatives will try to block this increase, their efforts are designed to fail thanks to the procedure set up by the last debt ceiling negotiations. Congress would have to pass a joint resolution opposing the increase, which the president could simply veto. Thus, an additional $1.2 trillion on top of our already unsustainable debt is a foregone conclusion. Our Gross Domestic Product continues to contract and now stands at $14.5 trillion. The debt already far exceeds that and will soon hit the new ceiling of $16.39 trillion.
Everyone in DC acknowledges that the debt is unsustainable, yet few are willing to take serious steps toward addressing it. Politicians in Washington cannot face the fact that the blank checks must stop. Many think we can ignore the mounting debts and deficits and eventually the economy will magically turn around and grow its way out of the mess. If you really understand why the economy is foundering, you understand the burden cannot all be put on the backs of the American people while politicians stick their heads in the sand.
According to a USA Today analysis, there are currently over $61.6 trillion in unfunded future government liabilities, which amounts to $528,000 per American household. A huge part of these liabilities are Medicare, Medicaid and Social Security – promises made to make the American people feel secure in their futures. But how secure should the American people feel knowing that a default is becoming more mathematically unavoidable with every NEW program added, every bailout, every debt ceiling increase, every new war we rush into, and every round of quantitative easing from the Federal Reserve? The last thing politicians should be doing is adding to that $528,000 household burden with either more spending or more taxes. This is unequivocally a problem of too much spending by a government far outside its Constitutional bounds.
It is especially a slap in the face to the American family when the Federal Reserve dilutes the dollars we work for in order to bail out profligate banks and governments in Europe. The already perilous state of our economy and our currency should not be further endangered in a futile attempt to save the euro. The least the government can do is allow Americans a choice in how to actually secure their financial futures that doesn't depend on a sinking dollar and irresponsible government. My competing currency bill allows for that and I will continue to fight for economic freedom from foolish and selfish whims of the central bank.
It is nothing new for Washington to kick economic pain down the road. Optimistic politicians hope things will stay cobbled together just long enough to get through another election cycle, or that another administration will have to deal with the mess. The longer this cowardly attitude prevails, the bigger the problems become. Congress and the administration should exercise some good judgment, some political courage, and make the needed budgetary changes now. It would not be that difficult to do if Washington would simply work its way back to the Constitution instead of straying even further from it.
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Posted by Danny B on 01/04/12 11:08 AM
I'm not sure that "budgetary changes" are what congress is working on.
Click to view link
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Posted by pjmauigirl1 on 01/03/12 09:36 PM
Thanks for posting that link---absolutely fabulous!!!!!
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Posted by jkluttz on 01/03/12 06:26 PM
"Congress and the administration should exercise some good judgment, some political courage, and make the needed budgetary changes now. It would not be that difficult to do if Washington would simply work its way back to the Constitution instead of straying even further from it."
Dr. Paul, whom I admire greatly, is being optimistic here. With unfunded liabilities at least four times the official national debt, there is no way out. Dr. Paul has also said that obligations to seniors dependent upon welfare programs should be met. Again, there is no way to accomplish such a thing without taxing the young, who expect to get nothing in return.
The federal government is dead financially, it just hasn't fallen over yet. Will the American people recognize the full extent of this disaster and willingly face it? I sincerely doubt that they will do either. Anyone telling the truth will be vilified and the people will run into the arms of the NWO. Dr. Paul is a very brave man for jumping into this mess.
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Posted by free on 01/03/12 05:44 PM
Ron Paul is a great man.
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Posted by chad2 on 01/03/12 05:25 PM
Ever heard of a Jewbilee? You should learn about it. You see, given the obvious; the imperfection of everything man made God knew that a Jewbilee was needed ever so often. Here's the concept for Israel which was to be an example for the world: The people don't own the land, God owns the land and he gave it to the twelve tribes to live on. Well over time, He knew that corruption would start, that the rich/poor divide would set in, for instance. Thus, after many years the people had to start over! So the land was reallocated based on tribe so that people could have a new balanced start. In fact when land was rented it was based on the number of years left before it had to revert to the original owner. So, here we are in America trying to continue a system for ever and we know humans can't do that as failure is in all human systems. Only God's system is eternal. Why do we think america won't go the way of all other civilizations? Given we have no Jewbilee and we are not the nation of Israel, I'd say you can be confident the US will go the way of other civilizations. The nation of Israel however will be reborn, it has already started... Jewbilee!
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Posted by Frank on 01/03/12 04:17 PM
Ron Paul speaks the truth very plainly. America should heed his warnings! Keynesian economics doesn't work, especially when you are starting out with already high debt levels & very high deficits. You need to balance the budget asap by cutting spending. Paying for deficits by printing money out of thin air causes inflation & robs the buying power of savers & those on fixed income (like retired people). Congress & the President are a den of thieves that are killing off our economy, burying our kids with staggering debt burdens & stealing the buying power of the US Dollar from prudent savers & people on fixed income. I cannot believe this once great Republic has been reduced to a selfish mobocracy & everyone is out to steal as much as they can get away with as our nation goes down the drain!
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Posted by tjdetmers on 01/03/12 03:37 PM
Here is an interesting link that many would consider an unlikely source of support for Ron Paul.
Click to view link
If you do a litttle little math... .it will also put some perspective to a rosier future for the American people.
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Posted by kkhinton on 01/03/12 02:48 PM
With the INCREASE IN QUANTITY (In this case - the increase of debt) - there will come about a SUDDEN and DRAMATIC CHANGE IN QUALITY - However, after the change we will be able to re-structure and move on - having learned a valuable lesson (Is that possible?)
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Posted by DwightMann on 01/03/12 02:22 PM
Truth be told,Dr Paul is absolutely right. . .
Good luck 2night in IA!
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Posted by laceja on 01/03/12 01:49 PM
The problem with solving the problem, by shrinking the very entitlements that are causing the problem is, a huge percentage of the population now depends on them. And, that number will only grow. This, of course, is thanks to the foolish promises made we've accepted from the folks we've elected in the past. Unfortunately, too many have been brainwashed into believing their is an easy way out. Also unfortunately, the very folks, who benefit the most from Social Security and Medicare in particular, see themselves as being too far down the road of life to make it to the end, without those programs. Basically, we've been made to be so weak, we simply cannot see ourselves being able to take a step beyond 65 years of age, without that promised gold watch.
Whether Ron Paul manages to get elected or not, it's going to be very painful for us all. But, either way, I see a lot of baby boomers suffering for a shorter period of time.
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Posted by clark on 01/03/12 12:15 PM
Levantine asked, "I wish you'll soon respond... "50 million Hungry Americans to suffer under #RonPaul's austerity plan cutting 63% of #FoodStampbudget, leaving max benefit of $17 weekly"
Psft,... there are many private organizations and People who want to feed the destitute, yet they are stopped cold by government!
Charitaible organizations and individuals Will step up to the plate and provide for some of those who cannot do so on their own. The rest? Well, Half of those on food stamps simply need to get a job. Removing minimum wage laws will allow that to happen for most, read some articles by Walter Willams to understand more.
Click to view link
Also, try to understand why the early Pilgram settlements failed in the New World. Hint: it was due to the same socialist policies similar to welfare today.
Click to view link
The only free cheese, is in a mousetrap.
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Posted by Abu Aardvark on 01/03/12 09:57 AM
"Error" on Poll Results Put Santorum Ahead of Ron Paul
Click to view link
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Posted by Levantine on 01/03/12 09:28 AM
Dear Dr Paul,
I wish you'll soon respond to the voices of fear and panic about the the 1 trillion cut. Citing @WebsterGTarpley:
"50 million Hungry Americans to suffer under #RonPaul's austerity plan cutting 63% of #FoodStampbudget, leaving max benefit of $17 weekly
15 hours ago"
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Posted by Merridth80 on 01/03/12 06:29 AM
Dear Dr. Paul:
Keep on telling it like it is! You have more supporters than you know!
Unless the Dems pull a "Harry Reid", you will have the votes to win!
Are these other demopublicans so dense they stand up and call you names for telling the TRUTH?
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Posted by Agent Pete 8 on 01/03/12 04:49 AM
Dr Ron, even though I am against politics per se, and not a US voter, I would like to see you win this matey, as your logic is sound for the safety of all.
Thanks and Win.
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Posted by 4204life on 01/03/12 04:49 AM
Possible collusion to corrupt Iowa caucuses?
Click to view link
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Posted by Rrust on 01/03/12 04:29 AM
Thank you speedygonzales for bringing up two of the world's finest, Bastiat and Joe Sobran -- and in one post!
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Posted by speedygonzales on 01/03/12 03:14 AM
French legislator Frédéric Bastiat single sentence: 'Look at the law, and see if it does for one man at the expense of another what it would be a crime for the one to do to the other himself.'
If Bastiat was right, the United States was already profoundly corrupt. It took me years to come to terms with this idea. Today it seems to me almost self-evident. I marvel that anyone with common sense thinks otherwise.
This means, for openers, that taxation is a gigantic system of fraud, robbery, and extortion. Most taxpayers receive nothing to justify the amounts they are forced to pay. Yet it's the taxpayer, not the ruler, who is treated as a criminal suspect and required to 'confess' his earnings and holdings. The ruler isn't penalized for anything he does to the taxpayer.
This fact makes me wildly indignant, and I'm frustrated and baffled that so few Americans share my feelings. We are being robbed and cheated on an astonishing scale.
Click to view link
Whenever I hear someone brag that America is 'the greatest country on earth,' I want to ask, 'Have you ever been to Switzerland?'
Well, I have. I spent a whole week there once. Very dull. No war, no international crisis, no crime, none of the things that give life its savor for red-blooded people like us. Nobody even knew who the president of the country was. The Swiss have never even had a great president. Their national hero is still that guy with the crossbow. Their national pastime is yodeling.
I don't intend the blasphemous suggestion that Switzerland is the Greatest Country on Earth, but it has a fair claim to be the sanest. It has had less history over the last thousand years than most African countries have had in the last generation. You know the old Chinese curse: 'May you live in interesting times.' The Swiss have no memory of interesting times. They have a proud history of not making history.
Oh, by the way, the Swiss aren't afflicted by terrorism. Osama bin Laden has probably never heard of Switzerland, unless he stashes his money there. It may not be the Greatest Country on Earth, but nobody calls it the Great Satan, either.
Not that the Swiss aren't ready to defend themselves. The men are required by law to serve in the militia and to keep firearms in their homes. But when they say 'defense,' they mean defense - not empire, not New World Order, not 'global leadership.'
They have a federal system of government, and in Switzerland federal still, oddly enough, means DECENTRALIZED. Each canton treasures its independence. The national president has little power, little opportunity to achieve 'greatness.' The Swiss franc is one of the world's most stable currencies. Swiss banks are the world's most secure vaults.
Independence is always hated by centralizers and internationalists.
Click to view link
If you want a government to give people money they haven't persuaded others to give them voluntarily, you are in effect demanding an agency like the IRS. If you want a huge military force beyond any needs of genuine defense, you will get the IRS into the bargain. If you want a government that performs countless functions and exercises countless powers nowhere authorized by the Constitution, you are summoning the IRS into existence.
Click to view link
