A Serious Warning: The Facts Behind America’s Coming Collapse
By Porter S
Monday, June 6, 2011
On May 11, the U.S. Treasury updated the public on our federal government’s finances.
So far this fiscal year (which began October 1, 2010), the feds have borrowed nearly $1 trillion. April marked the 31st consecutive month of deficit spending at the federal level. It did not matter that tax receipts have rebounded substantially – growth in spending on social programs has far outpaced the increase in revenues.
In total, President Obama’s economic mandarins now forecast the fiscal year 2011 deficit will come in at $1.6 trillion.
To put this figure in perspective for you, when Ronald Reagan took office, the entire national debt totaled less than $1 trillion. Even as late as 2002, the national debt was only $6 trillion. Obama’s administration will almost surely borrow more than $6 trillion in only his first term. In four years, Obama will double our entire national debt from its pre-financial crisis levels.
This has never happened in peacetime.
Keep in mind, this is the same president who, after taking office in 2009, held a widely publicized Fiscal Responsibility Summit and pledged to “halve the deficit we inherited” by 2013.
The budget deficit in Bush’s last year in office (the 2008-09 calendar year) was $1.2 trillion – due largely to the Wall Street bailout and Iraq war.
Today, both of these major sources of spending have largely disappeared. The government is selling assets acquired during the financial crisis. That generates revenue. Yet rather than decrease the deficit, Obama has allowed it to grow by 33% annually.
This same man, while a U.S. senator, called 2006 efforts to raise the debt ceiling “a sign of leadership failure.” He voted against raising the debt ceiling to $9 trillion, proclaiming, “Americans deserve better.” Obama noted, accurately in our view, these mounting federal debts were “shifting the burden of bad choices onto the backs of our children and grandchildren.”
We hope history will hold Obama accountable for his actions. But we’re not holding our breath. Federal, state, and local government spending now makes up about 45% of the U.S. economy. Hardly any major business in America doesn’t count on the government for a significant amount of its earnings. While we used to call this kind of system “socialism,” today the popular term is “crony capitalism.”
Whatever you call it, it leads to collapse.
Another worrisome sign? A record number of people (almost 70 million) now depend on the U.S. government for their daily housing, food, and – most of all – health care…
Today, 45% of American households receive some form of direct government payments. And 132.5 million people pay no federal taxes whatsoever – a record number of people who neither paid federal income taxes in 2010 nor were claimed as a dependent by another taxpayer.
Tallying up all these numbers, you discover something amazing. A tiny number of Americans pay for the well-being of nearly a majority. While half of the population may pay something in taxes, only the top 10% – people earning more than $113,000 – pay a substantive amount. These few citizens pay 70% of all the income taxes collected.
Benefits funded this way are unsustainable. According to a recent study published in the Wall Street Journal, the average couple that retires at age 66 on Social Security and Medicare will receive $1 million in benefits. On average, they and their employers paid $500,000 into the system.
The federal government is taking an excessive amount of money from its few high earners – a wealthy minority – and redistributing inefficiently to pay for services the country can’t realistically afford…
Individuals, of course, are not the only beneficiaries. Entire industries gush cash thanks to the generosity of the federal Treasury – mortgage REITs, defense companies, and most of the health care complex.
The system is so broken, not even the already lopsided payment scheme is enough. Not even close. Every week we hear more demands for the “rich” to pay their “fair share.” The political reasons for spending are so powerful, until the government can take more from the rich, they will continue to borrow it from somewhere else.
Any American with the ability to balance a checkbook can discern the serious nature of this financial situation and the politics that explain its origins. Yet in the battle between political expediency and financial probity, the lust for power will always win.
So what can we do to protect ourselves as the borrowing and spending continues to accelerate?
President Barack Obama is proud of his record of accomplishment. Watch his first ad of the 2012 campaign brought to you by the National Republican Senatorial Committee. http://www.nrsc.org *Not actually an Obama 2012 ad*
June 30th 2011
FAIR USE NOTICE
April 11, 2011, Marco of Terry Lakin Action Fund Radio interviewed Cpt Pamela Barnett, U.S. Army, Ret. about her Obama eligibility hearing Barnett, Keyes et al v. Obama on May 2 at the 9th Circuit in Pasadena, her other activism and her new soon to be released book “Never Vetted/Unlawful President.” Within the interview she states that an immigration record does exist for Barry Soetoro an alias of Obama.
–Barack Obama hits up Wall Street fat cats for donations, while no Wall Streeters have gone to jail, and real campaign finance reform is nowhere to be seen on the horizon.
As the debt crisis threatens America, Klavan on the Culture takes a look at two competing plans.
June 12 (Bloomberg) — Former Utah Governor Jon Huntsman discusses his possible bid for the Republican presidential nomination.
Dennis Kucinich On Barack Obama Libya Action: It’s Not Up To The President, It’s Up To Congress.
Occidental College transcripts provides concrete evidence to annul Obama presidency..avi
While being sworn in as an attorney in the State of Illinois, Mr Obama had to provide his personal information under oath. He was asked, if he had any other names, he responded none. In reality, he used the name Barry Soetoro in an entry in the journal of the California assembly in reference to grants given to foreign exchange students. Mr. Soetoro/Obama clearly defrauded the State Bar of Illinois and perjured himself while concealing his identity. Anybody else would’ve been disbarred for this and the matter would’ve been forwarded to the district attorney for prosecution for perjury and fraud, however nothing was done to Mr. Obama. More importantly, why did he conceal his identity?
If Obama didn’t legally have his name changed from Barry to Barack then the birth certificate he passed to Congress is a fake, a forgery. If his name was registered as Barry Soetoro even though Obama claims his real name is Barack Obama then Obama defrauded the state of California in order to receive college funding. Obama knowingly presented a false document to the state wherein he claimed to be a foreign student in order to illegally acquire financial aid.
http://presscore.ca/2011/?p=2929
http://alohareporter.com/2010/03/hawaii-considering-law-to-ignore-obama-birthers/
Hawaii considering law to ignore Obama ‘birthers’
By ar On March 18, 2010
Despite some political commentators insisting that the White House release of what it claims to be Barack Obama’s long form birth certificate represents the end of the “crazy birther fringe” movement, those who most fiercely pushed doubts surrounding the president’s eligibility are not convinced.
While presumptive Republican candidate Donald Trump welcomed the release of the document, he was quick to cast suspicion as to why it took so long and if the certificate was even genuine.
Trump said it was “amazing” that the document surfaced “all of a sudden” after he had begun asking questions about the controversy, adding that the certificate should be analyzed to determine its authenticity.
Indeed, the Smoking Gun website has already compiled a list of inconsistencies found in the document, including asking, “If the original document was in a bound volume (as reflected by the curvature of the left hand side of the certificate), how can the green patterned background of the document’s safety paper be so seamless?”
Meanwhile, World Net Daily editor Joseph Farah, who has been at the forefront of the birther movement, heavily promoting Jerome Corsi’s investigations into the matter along with his new book, Where’s The Birth Certificate?, reacted to the news by saying the birth certificate “raises as many questions as it answers”.
At the center of the storm is the argument about whether the fact that Obama’s father was born in Kenya, which is confirmed on the document released by the White House today, makes Obama ineligible to become president because he is not a “natural born citizen” of the United States.
A d v e r t i s e m e n t
“Some of the cases challenging Obama have explained that he was a dual citizen through his father at his birth, and they contend the framers of the Constitution excluded dual citizens from qualifying as natural born citizens,” reports WND, meaning that the document released by the White House today could even lead to proving Obama’s ineligibility.
“The news media and the political establishment were quick to rush to judgment regarding Obama’s eligibility in 2008, without any basis. It would be a big mistake for everyone to jump to a conclusion now based on the release of this document, which raises as many questions as it answers,” Farah said today.
Some political commentators have hastily insisted that the release of the document means, “The “birther” movement is now dead as a political force,” a rush to judgment given the fact that the White House’s direct involvement now means the entire controversy will only continue to generate attention.
Since the American people have been habitually lied to about everything under the sun, with trust in government at an all time low, a PDF file put out directly by the Obama administration itself isn’t going to make the furore die down at all, and will only lead to claims that the document is a carefully crafted fake.
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Obama’s long form birth certificate — http://www.whitehouse.gov/sites/default/files/rss_viewer/birth-certificate-long-form.pdf
Correspondence with the Hawaii State Department of Health can be seen here (PDF).
Duration : 0:6:7
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