Moore TEA Citizens
 
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President Obama talks about everyone paying their fair share and he uses the comparison between the top 1% Americans (Rich Millionaires) and the other 99% of Americans (This set of percentages is already a gigantic over-stated LIE). 

Well, let’s look at these two groups and find out what the truth is about these groups paying their fair share (Let’s use the statistics from the Liberal Urban Institute/Brookings Institution Tax Policy Center to determine the facts).  The 46% of Americans who did not pay a dime of taxes and who take the bulk of Federal welfare benefits vote Democrat in elections.  In the first quarter of 2010, according to the Wall Street Journal, 48.5% of the American population lives in a household where at least one of the family members receives some type of Federal government benefits.  More than one-third of Americans (34.2%) live in a household that received benefits from more than one of the 70 federal programs that provide cash, food, housing, medical care, and social services to the poor and low-income persons; this is a record high.

No wonder, the Office of Management and Budget (OMB) figures show that “The Federal Anti-poverty spending has soared from $190 Billion in 1990, to $348 Billion in 2000, and to $638 Billion in 2010 (All adjusted for Inflation).”  The growth since 2000 for the Children’s Health Insurance program (CHIP) “has been remarkable at 470%, food stamps at 229%, energy assistance at 89%, and Medicaid at 80%.”   Adjusted for inflation, anti-poverty spending is 13 times higher today than it was in 1965, when the War on poverty began; at the same time families in poverty has only doubled!

Now, let’s look at the achievers in America (Heritage Foundation):
  • The richest 20% of American taxpayers shoulder 86% of the Federal Income.
  • The riches 1% of American taxpayers (The top16% of taxpayers) shoulder 36.7% of the Federal Income.

Now I support the idea of the Millionaires paying more (1 or 2%), but it is a lie to say they presently don’t pay their fair share!  By the way there are 3679 new millionaires this year.

“President Obama intends to destroy the USA through his Plan for Redistribution and Federal Government control:
  • 48% of all Americans are considered “low-income” or are living in the “poverty level.”
  • 57% of all children in the USA are living in impoverishment.
  • 16% of all Americans are without work today as measured by 2007 Standards (The Obama Administration have changed the measurement).
  • The average American needs 40 Weeks to find a job, if they are looking for one.
  • There are fewer jobs in America today than in 2000 even though there are 30 million more people in the USA.
  • The median household income has declined 6.8% since January 2008.”


“Welfare Spending Up 41 Percent under President Obama

In 1964, when President Lyndon Johnson declared a “war on poverty” in America, the poverty rate stood at around 19 percent.  Since then, total federal, state, and local spending on anti-poverty programs has amounted to $15 trillion, yet the poverty rate now stands at 15.1 percent, the highest level in nearly a decade

 “Clearly we are doing something wrong,” according to the Cato Institute, which has released a new policy analysis on welfare spending that calls the war on poverty a “failure.”

The federal government will spend more than $668 billion on anti-poverty programs this year, an increase of 41 percent or more than $193 billion since President Barack Obama took office.  State and local government expenditures will amount to another $284 billion, bringing the total to nearly $1 trillion — far more than the $685 billion spent on defense.

Federal, state and local governments now spend $20,610 a year for every poor person in the United States, or $61,830 for each poor family of three.

“Given that the poverty line for that family is just $18,530, we should have theoretically wiped out poverty in America many times over,” writes Michael Tanner, director of health and welfare studies at the Cato Institute and author of “The Poverty of Welfare: Helping Others in Civil Society”.

Most welfare programs are means-tested programs providing cash, food, housing, medical care, or other benefits to low-income persons and families, or programs targeted at communities or disadvantaged groups, such as the homeless.  The federal government alone now funds 126 separate and often overlapping programs designed to fight poverty, Tanner points out.

There are 33 housing programs run by four different cabinet departments, 21 programs providing food or food-purchasing assistance administered by three different federal departments and one independent agency, and eight healthcare programs administered by five separate agencies within the Department of Health and Human Services.

The largest welfare program is Medicaid, which provides benefits to 49 million Americans and cost more than $228 billion last year, followed by the food stamps program, with 41 million participants and a price tag of nearly $72 billion.  Other programs range from Federal Pell Grants ($41 billion) down to lower-cost programs such as Weatherization Assistance for Low Income Persons ($250 million) and the Senior Farmers Market Nutrition Program ($20 million).

At least 106 million Americans receive benefits from one or more of these programs.  Including entitlements such as Social Security and Medicare and salaries for government employees, more than half of Americans now receive a substantial portion of their income from the government.”

“Clearly we are spending more than enough money to have significantly reduced poverty, yet we haven't,”
Tanner concludes.

The vast majority of current programs are focused on making poverty more comfortable rather than giving people the tools that will help them escape poverty.  And we actually have a pretty solid idea of the keys to getting out of and staying out of poverty:  finish school, do not get pregnant outside marriage, and get a job, any job, and stick with it.

The Tea Party "Activate Debt Commission Budget" – organized by FreedomWorks – put together a serious budget –   one that cuts $9.7 TRILLION from the budget.  One that balances our budget within 4 years.

The Tea Party Budget is a crowd-sourced, grassroots-generated document.  "We traveled the country holding “field hearings.  Over 55,000 activists voted for specific cuts on our online portal. Unlike Harry Reid and the Democrats, we listened to the people."

In the end, 12 grassroots “commissioners” compiled the findings into a workable budget that:
  • Repeals Obamacare – in its entirety;
  • Fully eliminates four cabinet departments, and shrinks or privatizes many others;
  • Shrinks the federal government from 24% of GDP to 16% – a historical average;
  • Cuts, caps, and balances federal spending.

And it does all of this without raising taxes, which means that our budget – unlike the rumored Democrat proposals (which they won’t even propose!) – actually stands a chance of passing!


Allen Coburn

 
 
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Yesterday I listened to Joe Pags interview Texas Governor Rick Perry.  The left is making unusually outrageous charges against Governor Perry's refusal to take "free federal money" in order to expand Medicaid in the great state of Texas.  Governor Perry responded and commented on the truth about federal grants and "free money".

How I wish more of our local municipal, county, and state officials would think and talk like Governor Perry. This is not "free money" -- it is taxpayer money funneled to Washington where they skim off "their cut" and then "return" part of it to the local authorities where it should have been collected and spent in the first place (assuming it is for a necessary and warranted use, of course).  If these misallocated funds are, in turn, funneled through state level bureaucracies, those also take "their cut" before doling it down to the local level.  Everybody gets their cut at the expense of the beleaguered taxpayer.

And, these grants and "handouts" always come with federal strings attached.  These always require the local government to cede a part of its authority (and our liberties) to the federal bureaucracies and power brokers.  It's part of why we're headed toward an all-powerful central government.  Governor Perry is courageous and wise to begin refusing to step into these traps and fall for the lure of "free money".  There's a nasty hook hidden inside that lure!

And let's not forget a crucial principle here.  The federal government is bankrupt.  They're borrowing that grant money, adding to an untenable $16.8 TRILLION debt and $123.4 TRILLION in unfunded liabilities.  By taking that money, you're hastening our national demise.

Hey local officials!  Listen to Rick and learn!



Bill Cochrane

 
 
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Here is my latest submission to "The Public Speaking" column.  It is really timely since it addresses basic issues relative to fiscal responsibility of Federal government and unsustainable, and possibly fraudulent, expenditures from the Social  Security Trust Fund.  The basic article is  300 words, not counting the writer attribution words.  I hope this commentary will be published.

Wesley May


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Get Honest About Social Security Debt
You ask “Why GRIDLOCK in DC?”  Well, conservatives believe unsustainable spending is mortgaging the welfare of future generations!  But liberals see no spending problem and continue their mindless “kick the can” policies to please low-information voters who remain unaware of the mortal fiscal damage they do with their votes.

We’ve reached a critical turning point, and there is a need, more urgent than generally understood, to get agreement on the fiscal danger we face.  For openers, we need general understanding on how the Social Security Trust Fund has deceived us.  Then we can work together toward achievable solutions.

A quick primer on the Trust Fund:  Workers and employers make payroll tax contributions to the Treasury.  These contributions pay benefits for current retirees, with any excess “remainder” being transformed into an IOU in the Trust Fund, called an “unfunded obligation”.  Future redemption of an IOU requires funding this obligation with NEW MONEY!

This accounting trick ultimately allows payroll tax contributions to be used to pay General Fund liabilities.   This accounting trickery unravels when benefit payouts exceed payroll tax income.  The Treasury gets new money to redeem enough IOU’s by borrowing (i.e. selling treasury bonds/notes) or collecting more in payroll taxes.

The trust fund is basically a Ponzi Scheme à la Bernie Madoff.

Redeeming IOU’s has already begun increasing debt, and over the next decade, more than a half trillion more will be added to the debt.  That’s just the tip of the iceberg!  “ ... [A]ctual liabilities of the federal government ... already exceed $86.8 trillion ...”  (That exceeds the Total World economy in 2011!)  And we taxpayers are left holding the $86.8T bag...no -- our children are left holding that bag!

We DEMAND ACTION now!  Starting with a TRUE and TRANSPARENT  accounting  of our TOTAL long-term debt obligations.


Wesley May
Pinehurst, NC
 
 
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That guy has picked a fight with everyone who loves the Constitution and Second Amendment.  Why?  Well, simply to distract.  He desperately wants to divert our attention from the:

  • Immoral National Debt
  • Generational Theft
  • Fast & Furious Scandal
  • Benghazi Scandal
  • EPA Scandal
  • Unemployment Numbers
  • Green Energy Scandals
  • Quantitative Easing Debacle
  • European Gold Reserves Recall and International Reserve Currency Disaster
  • Foreign Policy Failures
  • Fourth failure to produce a Federal Budget
  • ObamaCare outrages
  • Obama Tax Increases on Everyone


No, don't think about those things.  Let's get all worked up about a new assault on the Second Amendment, even though everything he's doing is ineffectual smoke and mirrors.

Stay asleep, American electorate.  Soon it will be too late.



Bill Cochrane

 
 
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Just another look at our disastrous national debt.  It's going to wreak havoc soon.  The wise will heed the warnings.

The Eurozone is larger than the United States, so America's debt per capita also exceeds the Eurozone's. According to the Census Bureau, the U.S. has a population of 313 million, whereas the Eurozone has a population in excess of 331 million.  We are in worse shape than Europe by every measure.  What is happening there must happen here.  There will be no avoiding the coming calamity.


Bill Cochrane

 
 
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Federal Reserve Building
Ben Bernanke and the Federal Reserve are desperately trying to patch the hole shot in this economy by the Congress and the Administration with artificially low interest rates -- at least until after the elections....

The patch probably won't hold.  And when it blows the effects will be awful.

The video below helps explain the dangers of our balooning national debt.



Bill Cochrane

 
 
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Greece Defaults
We were told it was coming.  Now it's here.  Greece has officially defaulted on its national treasury bonds.  In spite of all the bailouts from the European Union, the International Monetary Fund, and our own Federal Reserve....  Hundreds of billions of dollars in bailouts -- all for naught.

There are more European countries lined up to default as well.  The European Union is collapsing along with the European economy.  There will be very hard times on that socialist subcontinent soon.

Do you think those economic woes will be contained to Europe?  If you do, you are mistaken.  Our own economy is on the edge, and Europe will probably push us over.  Hold on!  We in for a jarring ride this summer.


Bill Cochrane

 
 
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Financial instrument backed with collateral reserves.











Fiat currency, backed by government borrowing.

 
 
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For those who do not understand where the United States stands in its indebtedness as compared to Greece, which is collapsing and losing its sovereignty, please consider this chart posted here by Senator Sessions.

It should be an eye-opener for many.

We are teetering over the same cliff from which the Europeans are falling.


Bill Cochrane

 
 
_We've talked about this subject before here, for example, and also here.  But the folks who produced this video (and they do excellent work consistently) really bring home the problem.  The only point I would personally add is that, when we keep doing what we're doing, and the system collapses, what system will replace it?  We know what system is trying to replace it currently.  This is not a good option.  I hope we all awaken to see the danger and begin to correct it without a system collapse.


Bill Cochrane