Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts

Friday, September 8, 2017

Ah, the troubles caused by those who complain!

America is by most measure, still the best place to live in all the world! Lately, it's even improved somewhat, if you happen to follow the stock market. But, I fear that this momentum may well begin to flag soon. Not because of work force shortages, wars or rumors of wars, but because of those who seem to make living out of complaining!

Let me take a page out of the Democratic play book. There is something to be gained at times by stalling, pointing fingers and the outright spreading of falsehoods. For eight months now, nothing of any consequence has occurred in with the House or the Senate in terms of bill passing. Trump is witnessing obstructionism first hand as he has tried for Healthcare reform, tax reform and immigration control. The country, under Republican control, has drifted now for eight months! And sadly, it looks like that trend will continue indefinitely. Yes, things will just keep running along, until we hit a number of walls, that is.

Wall #1 – That pesky healthcare insurance hike, as figured by insurance actuaries each fall. 
Preliminary analysis suggests some of the most popular plans could see double-digit premium increases. Health care consulting firm Avalere analyzed initial rate estimates from eight states and found that premiums for "silver" plans (the most popular plans) are rising 18% next year, after a 12% increase this year! On top of that, 41% of counties in the U.S. will have just one insurer option on the marketplace. Not good and certainly something to complain about!

Wall #2 – The Debt Ceiling. Come December (and perhaps for every three months thereafter), Congress will be forced to raise the National Debt ceiling thereby kicking that old dented can down the road once again, as the country continues to struggle on. (This move is somewhat similar to the head of a family whose credit cards have all be maxed, yet with a sense pride, that same person announces at the dinner table that they have secured a new credit card)! Yes, problem solved... for awhile.

For those unsure as to exactly what the Debt Ceiling is: The debt ceiling is the legal limit on the total amount of federal debt that the government can accrue. The limit applies to almost all federal debt, including the roughly $14.4 trillion of debt held by the public and the roughly $5.5 trillion the government owes itself as a result of borrowing from various government accounts, like the Social Security and Medicare trust funds. As a result, the debt continues to increase due to both annual budget deficits financed by borrowing from the public and from trust fund surpluses, which are invested in Treasury bills with the promise to be repaid later with interest. Can I get a good laugh here? That money is never ever going to be repaid!

Wall #3 – Actually, this could be termed the lack of a wall. Illegal residents, here in the US, cost taxpayers about 113 billion dollars a year! Money that could have been used for infrastructure, education and better healthcare. Interestingly, there are many people who complain that we should have completely open our borders and perhaps even rename the country The United Banana Republic of America or UBRA! A great idea! Note that in a stereotypical banana republic, income inequality is dramatic: one finds an ultra-rich minority, a poor majority, a small or nonexistent middle class, and a lack of upward mobility for most of the population. Wow! Which one are you?

Well, there are many more walls that were are sure to hit, this assuming the average American's brain haven't become totally addled by the above three....

Friday, October 4, 2013

What future?

I took a picture from Facebook of two kids standing around a campfire and thought to make the following statement.

The fact is, our kids, the young and the innocent, have no clue as to what their parents have done to their future. College? Forget it. A house of their own? Not gonna happen for most of them. A chance at a rich and prosperous future? I don't think so...

Seventeen trillion dollars! The fact is, that baring a revolution, there is no way for a National Debt of this magnitude to be retired in any one lifetime...perhaps not in many lifetimes. So, what's that mean for these two kids? I don't know and I'm not sure I want to...

Even as this post went up, our President along with a 
I think I see some friends! Maybe I'll jump too...
a host of Democrats are in process of destroying the Republic! And why are they doing this? Simply put, it's over pride. The saying that 'pride goith before a great fall' has never been more true. The only problem is that, like lemmings, many of us are mindlessly following what amounts to insane leadership. No family in America could continue to spend money they didn't have without dire consequences ensuing. And now, I'm afraid, America is now much like the Titanic; only we aren't getting the benefit of a band as we sink beneath the waves.... Go now everyone and watch as the National Debt Clock ticks away your children's future....then go home and prepare them for a future that, in all likelihood, will be both brutal as well as short!

Tuesday, November 30, 2010

Come January, will US citizens see some action from the House?

Republicans need to focus on just three issues when the new Congress convenes in January; 10% more jobs, one third smaller government and a drastic cut in spending. That’s it. That’s all I would like to see them accomplish. I think many American feel the same way.

What do I think is actually going to happen? A larger and larger bureaucracy, continued out of control spending and a dismal job market. That will be the reality I’m afraid. Anyone wanting to make a bet I’m wrong, please reply.

Saturday, September 11, 2010

AMERICA’S ($)PENDING CRISIS

In the coming months, after the November midterm elections, the citizens of the United States will face the harsh reality of atoning for a government bureaucracy that is out of control. Someone will be tasked to come up with a solution and a plan to reverse the orgy of spending that has gripped this nation since the Democratic Party came into power over eighteen months ago.

With a daily interest bill of 1.2 billion dollars, our government must now resort to printing money with absolutely nothing to back it. They’re also running out of pockets to move funds from and to.

Foreign nations that have been floating the US a line of credit to the tune of over three trillion dollars have finally begun to wise up. Countries like Japan are becoming increasingly reluctant to hold our currency as they face problems of their own. The result may likely bring increasing pressure on President Obama to find some relief through increased taxation at all levels of our economy. This may take the form of taxes being raised on certain via a VAT or Value Added Tax. Other taxes being considered are a Gas Tax, an increase in cigarette taxes, the so-called Obesity tax on soda, capital gains taxes and well, you get the idea. Every day, new tax codes and regulations are being added daily to the current Federal Tax Codes which encompasses over 71,684 pages. As I speak, the Feds have already passed a tax increase on tanning Spas which amount to 10% per customer per visit. Get ready America, the shit is about to hit the fan!

While the future of America is looking grim, Capitol Hill doesn’t look the least predisposed to change things. Even when almost every expert on the economy has agreed on one point. That the US Governments spending must be slashed by at least twenty percent if we are ever to get out of the hole we find ourselves in. And this would BE IN ADDITION to massive cuts in entitlement benefits such as Social Security, Medicare and Union pensions. There will be very few citizens who will not have to make some large sacrifices and let me add that the process will be painful. The real issue right now is that these drastic actions must happen soon, as the clock is ticking on the massive 13 trillion dollar debt each and every day.