Deficits By Design?

February 18th, 2010 Dan No comments

NIGHTFALL IN AMERICA

(This analysis offered by ex-governor of Delaware, Pete du Pont)

Earlier this month, the Wall Street Journal’s editorial page did an analysis of the federal government’s debt that will be held by the public over the coming decade: 

  • When the Democrats took control of Congress in 2007, the debt held by the public was 36.2 percent of gross domestic product.
  • It rose to 40.2 percent the next year.
  • This year it will be about 63.6 percent, next year 68.6 percent, then 77 percent of GDP in 2020.
  • And the Obama administration’s budget estimates 218 percent in 2050. 

The reason for these rising deficits is the huge increases in federal spending — the intended growth of the federal government — that Congress and the president are pushing, says du Pont: 

  • The deficit in 2007 was $160 billion.
  • In the next year the Pelosi-Reid Congress took it up to $458 billion, and when President Obama came into office in 2009 it hit $1.4 trillion.
  • The current 2010 projected deficit is $1.6 trillion, which will lead to a tripling of our national debt from 2008 to 2010. 

To the White House and congressional Democrats, these large figures are not a surprise, a mistake or a worry.  They are part of a strategy to Europeanize America, to make the government larger, broader and in charge of almost everything.  And that would of course require broad and massive tax increases, says du Pont.  

Source: Pete du Pont, “Nightfall in America; The Obama deficits portend a gloomy future,” Online Journal, February 16, 2010. 

(Editor’s Note:  How can any group, whether from the Executive or Legislative Branch of government, feign shock and surprise at the cavernous deficit that they are all too well aware that they are creating?  Pete du Pont’s theory, while deeply disturbing, is entirely plausible.  “Quel surprise???”  N’est ce pas, citizens. ~~Dan Blanchard)

 

 

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Bayh, Bayh Congress–Hello New Business

February 16th, 2010 Dan No comments

Indiana’s Senator leaves the Senate. The chatter from the political class centers around how this affects the 2010 election, and some of it bemoans the “partisanship” of Washington.  But the bigger story–the very big story–is that a politician, a Senator, a Democratic Senator just said, “I can do more good for my country by creating a business.”

From his press conference:

After all of these years, my passion for service to our fellow citizens is undiminished. But my desire to do so by serving in Congress has waned.

…I love helping our citizens make the most of their lives. But I do not love Congress. At this time, I simply believe that I can best contribute to society in another way: creating jobs by helping to grow a business, helping guide an institution of higher learning to educate our children, or helping run a worthy charitable or philanthropic endeavor.

Wow. By all accounts, he would have easily won re-election. How rare and refreshing when a politician voluntarily steps down.  How even more rare and refreshing for him to acknowledge that he can contribute more in the private sector.

The truth is, he certainly can.  If Bayh succeeds at business, he will enhance more lives and create more jobs than all of Congress ever does.

Read more: http://stossel.blogs.foxbusiness.com/2010/02/16/hooray-for-evan-bayh/#ixzz0fkBEeTpo

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Over Our Head in a Sea of RED

February 16th, 2010 Dan No comments

Check out the graph tracking the US’ annual budget below.  It shows where we’ve been, where we are and where we’re projected to be through the next decade.  The CBO is the Congressional Budget Office and functions as an independent entity whose purpose is to provide some semblance of accountability in the budgetary process.  The last budget surplus was in 2001.  After that, and all through the Bush years, the deficits began mounting.  Clearly, neither party can boast of their having been fiscally responsible.   But watch how the marble has rolled off the table in the past 12 months and how sharply–and alarmingly–the financial scenario worsens. 

 

 

 

 

 

 

 

 

 

If you had a team of experts handling your money and this was their track record, you would fire them.  Well, America, it is your money.  No wonder a Rasmussen Poll released last week states that 63% of Americans favor the standing guard in Congress being voted out come November.  This madness must be stopped. 

~Dan Blanchard

 

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The $787 Billion Stimulus That Didn’t

February 16th, 2010 Dan No comments

What is the Federal government’s solution to any crisis, real or contrived?  To throw money at it.  Your money.  Bucket loads of money.  Obscene amounts of money.   Money that they cannot afford because they do not have it to spend.  Take 30 seconds of your time and watch the visualization of a job crisis (and each job lost represents a hurting family in America) as it has swept across the US…inclusive of the “Stimulus.”  (Click on blue link below)

Updated 02.05.10, The Geography of a Recession

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The Greate$t I$$ue Facing U$ All

February 12th, 2010 Dan No comments

THE NATIONAL DEBT: DO YOU KNOW HOW MUCH YOU OWE?

President Obama announced his 2011 Budget which is $3.834 trillion dollars with a projected deficit of $1.267 trillion or 8.3 percent of gross domestic product (GDP).   As of Feb. 7, our total national debt was $12,348,804,540,946.54 or $12.35 trillion which is larger than the economies of China, the United Kingdom and Australia combined, says Don C. Brunell, President of the Association of Washington Businesses. 

The national debt is growing with the spending spree in Washington, D.C.  According to the Congressional Budget Office and the Office of Management and Budget: 

  • Our national debt will grow an additional $9 trillion over the next decade, to more than $20 trillion.
  • During that time, the United States will accumulate $2.5 billion in new debt each and every day.
  • That’s $1.72 million per minute, for the next ten years. 

According to the Department of the Treasury: 

  • Foreign holders of our national debt are owed a combined total of about $3.3 trillion.
  • The top 10 countries and entities holding U.S. debt are: China, Japan, the United Kingdom, Oil Exporters, Caribbean Banking Centers, Brazil, Russia, Luxembourg, Hong Kong and Taiwan.
  • Our debt to China is approximately $776.4 billion, having grown more than $240 billion in the last year; that is more than $10,000 in debt for the average American working family — just to China.
  • The estimated population of the United States is 307,795,997 so each citizen’s share of this debt is $40,146.02. 

The National Debt has continued to increase and that is before Congress tacks on trillions for health care, cap and trade, new federal stimulus programs, and other yet to be identified spending programs, says Brunell. 

Part of the way President Obama plans to pay for his new round of spending is to eliminate the 2001 and 2003 Bush tax cuts families making more than $250,000 per year which impacts a ton of family-owned, small businesses which are the backbone of our economy and nation, says Brunell. 

Source: Don C. Brunell, “The National Debt: Do You Know How Much You Now Owe?” Olympia Business Watch/Association of Washington Businesses, February 7, 2010. 

Editor’s Note: Instead of partisan debate over how we should be doing “it,”  whatever the “it” may be, the only question that really matters is “should we be doing it?”   If we can’t afford it, we shouldn’t be doing it.   We cannot pay for the unfunded obligations we’re already committed to as a country.  The centuries’ old truth is just as universal and ominous as ever: “The borrower is slave to the lender.”   ~ Dan Blanchard

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2010: The Year of State Sovereignty

February 10th, 2010 Dan No comments

The Year of State Sovereignty?
By Bernie Quigley

At a press conference last October, Speaker of the House Nancy Pelosi (D-Calif.) was asked: “Madam Speaker, where specifically does the Constitution grant Congress the authority to enact an individual health insurance mandate?”

She replied with that wild-eyed self-assurance that grew more shrill and extreme as we got to Christmas: “Are you serious? Are you serious?”

She shook her head and moved on. Her aide, Nadeam Elshami, said that questioning the Speaker about whether the Constitution authorizes Congress to mandate that individuals buy healthcare was not “a serious question.”

This week the Virginia Senate passed a bill prohibiting a requirement for Virginians to purchase healthcare insurance. With a Republican state House and governor, this bill will likely make it into law.

In an effort led by Texas Gov. Rick Perry (R), more than two-thirds of the states have introduced measures to stop individual mandates on healthcare. Many state attorneys general threaten lawsuits if current federal reform proposals are passed into law. The Heritage Foundation reports that state legislators across the country are considering various bills that would allow their state to opt out of key provisions of ObamaCare or provide state voters a chance at the ballot box to reject nationalized healthcare in their state.

“Regardless of legislative components of the Virginia action yesterday, conservatives should cheer the resurgence of federalism and what it means for reining in the rapidly increasing federal government. With most states starting their legislative sessions, this may be just the beginning of what could be the ‘Year for State Sovereignty,’ ” says Dani Doane, director of government relations at the Heritage Foundation.

(Editor’s Note: If this does not show how out-of-touch or even dismissive of the People and their will our Speaker of the House is, I’m not sure what would.  No one, no one disputes the need for reform.  But a cost-effective, patient-centered approach is the only way to go.  Any plan that mandates purchase of a government “option” (please!) under penalty of a fine or even jail time cannot and should not be taken seriously.  And that’s precisely why 2/3rds of the People oppose it.  ~Dan Blanchard)

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Learning Liberal-Speak: A Primer

February 5th, 2010 Dan No comments

One of the most effective ways of making sure that 1) you’re able to accomplish your own agenda while 2) those around you are left scratching their heads is to use language that means one thing to the speaker and something entirely different to the rest of us.   This is the timeless ploy of the power-mongers of history, who first charm their listeners with slick, often-eloquent, well-turned phrases that put the masses at ease and then, following their own definitions of their carefully chosen terminology, do something that is just the opposite, usually to the detriment of the people.

So, in an effort to help you better understand what is the meaning behind what is being said, let me offer the following primer in Remedial Liberal-Speak 101.

1) What they say:  ”We’re going to put a freeze on spending”

What they really mean: “Well, we’re going to freeze spending after we increase it dramatically first.  Then, we’re going to put a freeze on those areas that amount to a fraction of 1% of our budget.  The largest and most costly budget items will continue to grow.  And beyond our control.”   The $25 billion per year in budget savings proposed amounts to less than two-tenths of a per cent of the total budget.   Please.

2) What they say:  ”We need to tighten our belts.”

What they really mean:  ”YOU need to tighten YOUR belts.  We’re planning to raise the US debt level by $1.9 trillion (the equivalent of the entire Gross National Product of France!)  even as we speak.”  (Passed 2.4.10–total budget deficit as of now:  $14.3 trillion!)

3) What they say:   “We have invited Republicans to the table to try to build consensus.”

What they really mean:  ”If they would just passively cooperate, not analyze/criticize what we’re trying to do and quietly and dutifully go along with our statist agenda, we could have ‘consensus.’”   The liberals way of “reaching out” is to announce what they’re going to do, before, during and after, no matter how much it costs.

4)  What they say:  ”They don’t like what we’re proposing for healthcare reform?  So let’s see what they’ve got.  They have nothing and have proposed no meaningful alternatives.”

What they mean:  ”We don’t like the numerous, detailed plans that have been put forth that propose simpler, far more cost-effective ways of reducing the burden of health care for Americans.  What we’re after is a total, unequivocal, government takeover of one of the largest industries that remain in the private sector and we will oppose any other cheaper, easier plan that interferes with that goal.   Better still:  We’ll just tell the American people that no real alternative has been put forth at all.’”

5)  What they say:  ”We’re making our first priority, the passing of a Jobs Bill.”

What they really mean:  ”We are committed to our ideology that real solutions to America’s problems don’t come from the private sector,  that there are no free market solutions.   What we need is yet another government solution–a huge stimulus that we’re going to give an appealing name because, after all, who could oppose job creation??”  Note: As Rand Paul has pointed out, the government cannot create jobs (unless they’re government jobs), only business can create real jobs.  The government “creating jobs” is akin to taking water from the deep end of the pool and pouring into the shallow end.   It’s still taking from those who are working and giving to those that are not.

So the next time you hear some establishment politician, whether Democrat or Republican, say something that sounds too good to be true, look beneath and behind the words.  Our leaders’ true message is revealed in what they do, not what they say.

~~Dan Blanchard



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“We the People” Debuts Sunday, February 7th!

February 2nd, 2010 Dan No comments

Click on the “We the People” title/link for an audio intro to a special series, “We the People,” hosted by our friend in freedom, Jim Coyle, beginning this Sunday, February 7th from 1 – 2pm on AM 970, WGTK.

“We the People”

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Voters: Key Link to Prepare for Upcoming Elections

February 1st, 2010 Dan No comments

http://elections.jeffersoncountyclerk.org/

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Under a Mountain of Debt? Try A(nother) Spending Spree!

February 1st, 2010 Dan No comments

Last week, during the State of the Union speech, our President squandered a golden opportunity, one that could have been a defining moment in this, the second full year of his presidency.   He could have used it as the perfectly timed occasion to say:  ”I have heard the collective voice of Americans all across the country who are saying, ‘We oppose enormous bail outs to banks and the car companies.’  I have heard the anger of those who say, ‘We oppose an $800 billion stimulus that has created very few jobs  while during the same year 3.4 million people lost their jobs.’    I have heard loud and clear the angst of a nation who believes that our approach in the past year to spend our way out of debt is absolutely unsustainable.   I have heard the will of the people expressed at the polls, in places like New York, New Jersey, Virginia and Massachusetts, that says, ‘We want no part of a government takeover of our health care, under the guise of reform.’ And I have heard the pathos of a people who are groaning under the weight of excessive taxation, intrusion into their lives and steady erosion of their liberties.   And so, I stand before you on this night, prepared to plot a fresh, new, common-sense course for our Country.”

Yes, our President could have and should have taken advantage of his national stage this way–but alas, he did not. Sadly, we heard no such words.  Not only does our current administration not have its hand on the pulse of where Main Street USA lives and breathes, it seems not to care.  It’s not that they do not know what Americans are going through as unemployment continues to rise–and foreclosures with it–and are just acting as though they are blind to these cold, harsh realities.  It’s that they do see and they do know and are acting against the will of the people anyway.

What we got last Wednesday night was a lecture, a scolding as it were, and no one was left out (just ask your Supreme Court justices).   The President’s words, seemingly underscoring his resilience–”I’m no quitter,” in reality only served to emphasize a level of defiance of the will of the People that is unprecedented.   Translation: “We’re going to find a way, some way, any way to get our agenda pushed through, no matter what–and no matter how many object to it.”   If you doubt that, Speaker Nancy Pelosi’s commentary the very next day:  ”If the gates are closed, we’ll go over the fence.  If the fence is too high, we’ll pole vault in.   If that doesn’t work, we’ll parachute in, but we’re going to get health care reform passed.”  Make no mistake, whatever the People say and however they may protest, their government says:  ”We know better what’s better for them than they do.”

The message out of Washington isn’t anything resembling, “You know, we may have spent way too much after all.”  It’s, “We haven’t spent nearly enough.”   And so, there is more to come.  Much more.  Including the most bloated budget proposal in our nation’s history.  This fiscal insanity is a runaway train, and liberal “leadership” is its engineer.

As the American Conservative Union reported today:

“Today’s Wall Street Journal screams with the headline, ‘Deficit to Hit All-Time High,’ as they report that President Obama’s budget projects the deficit will shoot up to a record $1.6 trillion this year.”  The Associated Press says: ‘Obama unveils $3.83 trillion budget with massive deficits.’

Worse, Obama and the liberal Democrats controlling Capitol Hill now say they want even more stimulus spending, what you probably heard talked about in that State of the Union speech as a “jobs bill.”

Massive government spending does not create jobs, it merely puts America’s families, children and grandchildren in even more debt.  Massive government spending does nothing to help America’s small businesses on main street.  Massive government spending does nothing but give liberal Democrats another blank check to hand out goodies to their liberal special interest friends.

The spending must stop. The stimulus bills cloaked as jobs bills must stop.  We must speak out.”

And so, we are.  And we will.

–Dan Blanchard

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