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Left And Right Politics

…plus the cream in the center.

Obama And Congress Scramble To Find Money For Tax Cuts

Posted by Billy On January - 16 - 2012

This week Congress returns to work after their three week undeserved vacation. So now it’s time for them to dig their heels down and find money to support the tax cuts that Obama and friends want to continue keep in place to help get the vote they need to win this year’s election.

There are many ideas that are being floated around Washington, but the one idea that is being avoided is the one that many Libertarians and Conservatives are calling for for years. It’s the idea of cutting many programs that are not the responsibility of the federal government. It’s gotten to the point that the federal government has funded so many programs that can no longer be funded. The real issue is how many of those programs should not have ever been put in place to begin with (but that’s for another post).

There are many programs that can be dismantled and/or eliminated to lower the cost of running this country. The biggest problem America is facing when talking about the deficit or the debt ceiling is the fact that Washington is spending way too much. Instead they want to play the number game and say they’re going to cut spending over a ten year period. I laymen terms that means they will cut back on future projected spending.

Let’s look at it this way, the federal government spent $3.5 trillion in 2010 and according to the most recent available tax revenue information (2007), only collected $2.4 trillion in taxes (after refunds). Washington is already spending more than it collects. Add on to the fact that there are other programs that politicians want to have funded in the future. Let’s say they “plan” to spend an extra $300 billion each year for the next ten years, in that case they would be spending another three trillion dollars on top of the already $3.5 trillion. So now they say they just “cut” $500 billion dollars. What that really means is that now they expect to spend only an extra $250 billion dollars each year on top of what they are doing already.

The federal government has been doing nothing but growing for the past few decades and on the path they (politicians) are going, it will continue to grow. Don’t be one of the many that fall for the creative accounting practices of our politicians. Wake up and see for yourself that this country is already bankrupt. the only reason we are still operating is because China and other countries are still willing to buy our debt. Once they stop buying our treasury bonds, it will be over for America.

The ONLY way to get the deficit and the debt under control is to reduce current spending. Yes it’s not going to be easy for the American citizen to do it, but the alternative is not a pretty site what-so-ever.

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United States Bankruptcy

Posted by Billy On April - 17 - 2009

The credit crisis and the housing market crash has caused this great country to once again be in need to borrow money from foreign countries to bail out the United States from bankruptcy. It’s to the point that foreign countries own 40% of the US debt that our politicians have given to the citizens of this great nation.

There was a time that the rest of the world would come to us for assistance and aid, now they just come to us for our military aid and to buy more our debt. Over the last five months, our Presidents (Bush and Obama) have passed bills to try to stimulate the economy. It will cost the United States citizens trillions of dollars to pay back the debt that has been added to our already high debt.

China has bought most of the contracts to our debt, which is a treat on our security of this country. What will happen in seven years when we are expected to pay back the Chinese for the money they let us? Will we be able to pay them back or do we just give them the rights to some of our major components of our economy as collateral.

In the last three decades, the United States have been sending many (if not most) of our factory and manufacturing jobs oversea to China. In the process, we’ve lost our edge on being the leader of the industrial age. As we enter the technology age, we’ve already started sending quite a few of those jobs to India. India is also another country that hold a lot of America’s debt. So not only are they advancing their own country’s economy, but they’re also buying our county without us even being aware of it.

Our politicians have been spending way too much money on things they can’t afford. Yes, this country needs to be put back together economically, but they are going about it all wrong. When your family is in a financial bind, do you spend more money to get a hold of the issue or do you spend less to make ends meet?

The United States is in a bad position (between a Barack and a hard place). Our government is spending money that they don’t have, China is a good position to taking over parts of our economy and India is not too far behind them doing the same thing. Add on top of all of it, the fact that we have North Korea shooting long-range missiles and our President isn’t even doing anything about it.

Write your elect official to tell them that they need to secure the safety of this country by not selling our debt to other countries that don’t really care about us. If you’re like me and prefer to talk to them on the phone, then call the U.S. Senate @ 1-202-224-3121

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