The U.S. Government owes more money than all of the other nations combined. It now borrows 40 cents for every dollar it spends. Soon the cash deficit will reach $14.3 trillion, which is the current limit by law. We expect the debt ceiling limit to be raised to about $17 trillion, and the best we can hope for in spending cuts is a pathetic $50 billion.
Yet the president claims with his new budget that he will save us $1.1 trillion over ten years, and that there will be a freeze on spending. Sure, after he first increases spending. He must have owned a retail store in his first life, because like a store owner, he’s going to raise prices by 50% just before announcing the “onetime only” half off sale. He plans on paying for his spending spree by increasing the marginal tax rate from 35% to 45%, dividends from 15% to 30%, and by raising the death tax. He must think we sit on the stupid bench!
Why should we be so lucky this time to think the president is telling us the truth about the meager 10 year, $1.1 trillion savings; especially after he lied to America about not mandating healthcare during his presidential campaign? His quote was, “Hillary mandates that everyone buy healthcare. She would have the government force every individual to buy health insurance. I won’t have such a mandate when I become president, because I don’t think the problem is that people don’t want health insurance as much as they can’t afford it. I’ll focus more on lowering costs, not mandating that everyone buy health insurance. If mandating everyone to buy health insurance would solve the healthcare problem, then we should mandate to solve the homelessness problem by forcing everyone to buy a home. No, I would never mandate health insurance and force people to buy it.”
Now that he is president, not only has he required that we all buy health insurance, he’ll hire 5600 more IRS agents to enforce the law. And like the Gestapo, he’ll throw anyone in jail for a year who refuses to either provide health insurance for their employees or to pay the mandatory fine. So much for the words honesty and democracy, where a promise was a promise, and a person’s word was good.
On March 20th, 2006, Senator Obama said about the debt ceiling, “the fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
Now as president, he says that a failure to raise the debt ceiling could plunge the nation into an economic crisis, costing us jobs; and that not doing so would be irresponsible. Timothy Geithner said of the president, “by increasing the debt ceiling, it’s a sign of leadership.” What Geithner should have said was… oh, by the way, Senator Obama was only kidding when he said that Bush lacked leadership and responsibility by refusing to raise the debt ceiling.
In a democracy, there is an inherent obligation to fulfill your promise. Both Obama and our politicians on either side of the aisle have failed to do this time and again. When electing a lawyer (Obama), you are electing a predator who is trained to lie; someone who’s mindset is to insert double meanings into legal documents to confuse the reader. These clauses are designed to either provide the opposite meaning of what was believed to be true, or to provide no discernable meaning whatsoever. No one has been more skillful at this than Obama. And until we stand up and stop allowing lawyers to run for public office, the very fabric of America, our constitutional rights, and our way of life will be gone forever.
Because nearly every politician in the Senate and the House is a lawyer, we have evolved from a free market capital system to a rigged market capital system. I expect a stock market crash in the next 18-24 months. Log on to WWW.PHILSGANG.COM Monday through Friday for all my stocks picks and market predictions, where you’ll hear ore od so I can’t tell you more of what Wall St. doesn’t want you to know’ !