Posts Tagged ‘budget deficit’

Our Children

When these cute little kids get old enough to understand – who is going to explain to them that they were born owing hundred of thousands of dollars to faceless bondholders around the world?

Americans love their children. It makes no difference whether we are liberal, conservative, progressive, independent, or even politically sterile – our children are our hopes and dreams projecting our lineage into the future. At this moment, their future is in jeopardy and our generation has the moral responsibility and imperative to reverse that.

We see a future for our kids on the horizon that we have to change before it arrives. Our entitlement programs – Social Security, Medicare, and Medicaid – are spiraling into insolvency. The Federal Budget Deficit has tripled in two years. Our government is mortgaging our kids’ future earnings at an alarming rate and shows no signs of exerting any sanity.

Combining the liabilities of the National Debt at over $13 Trillion at present and the unfunded liabilities of the above mentioned entitlement programs; every baby born today is on the hook for just under $400,000. That, of course, includes every living American of any age. Now we have piled the Health Care Bill on top of all the previous government commitments to entitlement largesse and the long term costs of that are not being truly enunciated. Only time will tell if it will be the final nail in the destruction of our nation’s fiscal stability.

We can no longer sit in front of the TV with 500 channels of sports, porn, and sappy sit-coms and ignore the peril in which we have placed our children’s future. We must awake and realize that piling up unmanageable debt and then dying to escape repayment is nothing short of criminal.

We have to stand up and demand the drastic reform of the entitlement monster before it destroys the opportunity our kids deserve. As individuals we must be strong enough to swear that we will not enroll in any of these programs unless fate and bad fortune leave them as the only way to preserve our lives. We have to get back to the concept that a government handout is not a right – but an insult, and an affront to our dignity. Sure you say you paid in and want your benefits. Too bad the government stole every penny of what you contributed and left the funds empty – it’s GONE! The people we elected over the past half century stole every penny! It is our burden and responsibility to realize the dough is gone and we have to take the hit – not our kids.

Watch that cute clip again and think hard on whether you want to be part of the problem, or part of the solution. Your little loved ones need your involvement now.

Advertisements

You Choose

Look what Patty Murray and the Democrats think is good for America – deficits that plunge us towards bankruptcy!

Whose children and grandchildren will end up paying for this catastrophe?

Unsustainable Federal Budget Deficits

Murray rose from a faculty position, fully baked in the hothouse of liberal PC groupthink, to US Senator in a few short years; swept into the office in “the year of the woman,” 1992. She means well, but her voting record is does not help America’s future.

The Democratic Party’s belief in big government solutions to every problem has created legislation that has proven counterproductive, expensive, harmful, and unsustainable for 77 years. Patty Murray has been a myopic cheerleader for such buffoonery all her adult life. During the 110th Congress, her voting record was 97.5% along party lines; a tie for the very top spot with Richard Durban of Illinois. That is not legislating – it is rubber stamping anything the party tells her to vote for.

Of course, Murray voted for Obamacare and the unintended consequences are now emerging from the closet like Willard’s rats. Contrary to the President’s solemn promise, more than half of the presently insured will lose the coverage they prefer within 3 years. Now she is tuning up to vote for Cap & Trade which will burden job creating businesses with punitive energy costs during the depths of a severe recession.

Murray is blind to the fact that as the future unfolds, far too many have claims upon the earnings of far too few. The massive entitlement programs we already have are nearly bankrupt. Her knee jerk support for yet more government control and spending can only be explained by her typical liberal preoccupation with the present time. She knows not about history, cares not about reality, and sees not the future. Her only vision is limited to her slavish devotion to yet more big government solutions she mistakenly “feels” would make things better. “Reasoning” out the costs and unintended consequences is obviously beyond her capacity.

The future of our nation depends on whether the march of the nanny state and its exploding debt can be arrested and rolled back. If not, it will destroy liberty as we have known it and condemn our children to serfdom. Murray is a major enabler of our potential future under Big Brother. Leaving her in office for 6 more years only exacerbates the possibility of the day when it will be too late to stop it. We in Washington have to elect a different Senator.

Murray went to the Senate as “The Mom in Tennis Shoes” but quickly turned them into a rubber stamp. Her hardwired base will back her forever since they pay no more attention to history and future consequences than she does. It is up to those of us who can see the long term damage of liberal policies, spending, entitlements, and social engineering to send Murray back to a college classroom. There she can damage only a few young minds at a time instead of continuing to help push America off the precipice of dependency, indebtedness and international impotence. She must be fired in November!

Here is a cute description of Murray’s propensity for earmarks, followed by links to two great candidates who should be seriously considered to replace her:

click here for Paul Akers’ Website

click here for Clint Didier’s Website

Obama’s Hockey Stick

“I say after eight years of this Administration we have just as much unemployment as when we started. … and an enormous debt to boot.”

These were the words of Treasury Secretary Henry Morgenthau spoken to Congress in May, 1939. Exasperated after experiencing massive unemployment for 10 years and spending heavily year after year to try to end it, Morgenthau was a beaten man. He was admitting that massive government spending and make-work projects had failed to revive the American economy. Over that period, unemployment had peaked at 25%, never went below 14%, and was 20% again when those words were spoken.

Now we have an administration in office that is mimicking the acts of the Roosevelt years with unprecedented borrowing and spending in their attempt to revive the economy. No less than Vice President Joe Biden recently stated: “We have to go spend money to keep from going bankrupt.” These people refuse to acknowledge history.

Below is a graph which I call “Obama’s Hockey Stick”. The environmental “hockey stick graph” has been discredited, but this one is frighteningly real. It shows that the US Budget Deficit has gone over a cliff; the deficit quadrupling between 2008 & 2009.

The next graph is projected future deficits based on present government budget plans. One estimate is from the Obama Administration, the other from the Congressional Budget Office (CBO):

The plunge in 2009 (which added $6,065 of debt for every living American) appears to begin to recede in 2010 and after until retracing back deeper starting in 2013. Note that the White House projections are far more optimistic than CBO. Who are we to believe; an administration attempting to cling to power, or a non-partisan budget watchdog? No matter which is right, the scenario is dire.

Based on 1933-41 experience, the above projected deficits appear a recipe for disaster. Government borrowing sucks available capital out of the system starving business of loans to expand and hire. Interest rates will rise choking off recovery of the housing market. Taxes will be raised to pay both the debt and interest; draining vital earnings of firms and individuals for decades to come.

Deficit spending does not create recovery; it only buys votes today with the fruits of future labor. Our government is selling our children’s future down a rat hole. Next time you see a baby, think seriously about apologizing in advance.

Here is a cute one that has been around a while about the TARP bailout: