ECONOMICS: The “ugly chicken” of unfunded liabilities

Tuesday, April 2, 2013

http://www.survivalblog.com/2013/03/become-your-own-central-banker-by-lbg.html

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Today the U.S. has spent the nation’s blood and treasure as well as our emotional capital on the conflicts in Iraq and Afghanistan. We have become involved in Libya, Egypt, and Syria.  Potential issues with Iran and North Korea loom large. There are 47 million people on food stamps. Unreported millions are unemployed. Spending on social programs has exploded.  The housing market collapsed and has never fully recovered. The banking system is on life support. The Federal Reserve is purchasing $85 billion dollars each month (a trillion dollars a year) in U.S. Treasury issues because no one else is willing to do so.  Despite government statistics and reports Inflation has driven prices on energy, food, clothing, health insurance, and everyday items beyond reason.  Expenditures outstrip tax revenues. Government spending is out of control and we are approaching $17 trillion dollars in national debt with untold (and unfathomable) amounts in promised future benefits, entitlements, mandates, and promissory notes.  By some estimates the U.S. has 238 TRILLION DOLLARS in unfunded liabilities.  We can’t cover it. We are flat busted.  And if our leadership refuses to address and fix the problem, the rest of the world will fix it for us.

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And why are the Sheeple and Clovers happy? Dancing Idol is on TV!

Fools.

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POLITICAL: Bozell Blasts GOP Leaders In CPAC Speec

Wednesday, March 20, 2013

http://cnsnews.com/blog/craig-bannister/bozell-blasts-gop-leaders-cpac-speech-you-are-not-what-you-promised-be

Bozell Blasts GOP Leaders In CPAC Speech: ‘You Are Not What You Promised To Be’ (Conservative)
March 16, 2013

By Craig Bannister

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“You’ve done nothing for over two years but give us excuses and more commitments that tomorrow, yes tomorrow, you’ll honor your promises. Gentlemen, where promises are concerned, you are not what you promised to be.

“Do you want to restore your reputations as conservative leaders? All you need to do is honor your promises. They were good ones. Watch what happens next. You’ll be heroes.”

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Absolutely true.

We don’t need bigger Gooferment!

Balance the budget today!

Eliminate the national debt!

Kill the FED!

Honest money!

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RANT: 1M$ gooferment employee!

Wednesday, February 27, 2013

http://watchdog.org/62420/co-secret-energy-lab-spawns-million-dollar-govt-employee/

CO: Secret energy lab spawns million dollar govt employee

By Tori Richards / November 24, 2012 / Colorado Watchdog

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GOLDEN, Colo. – The federal government’s dream of a renewable energy empire hinges on a scrubby outpost here, where scientists and executives doggedly explore a

If you live outside Colorado, you probably haven’t heard of the National Renewable Energy Laboratory – NREL for short. It’s the place where solar panels, windmills and corn are deemed the energy source of the future and companies who support such endeavors are courted.

It’s also the place where highly paid staff decide how to spend hundreds of millions in taxpayer dollars.

And the public pays those decision-makers well: NREL’s top executive, Dr. Dan Arvizu, makes close to a million dollars per year. His two top lieutenants rake in more than half a million each and nine others make more than $350,000 a year.

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And no one can figure out how to cut the budget?!!!!

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MONEY: This economy, and lack of political fiscal discipline, is hardest on the poor

Sunday, February 24, 2013

http://www.csmonitor.com/Business/2013/0222/Why-is-Wal-Mart-worried-Payroll-tax-could-cut-consumer-spending.-video?nav=87-frontpage-entryLeadStory

Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)
Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.

By Husna Haq, Correspondent / February 22, 2013

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“It’s a big deal,” says Morgan Housley, a macroeconomic analyst with Motley Fool, an online financial education website. “The biggest impact is on lower-income households since the payroll tax is regressive, only applying to the first $113,000 of income. Wealthier households don’t feel the same pinch because the tax doesn’t hit all of their income. Lower-income households also spend a larger share of their income than wealthier consumers.… Low-income families are in one of the toughest spots they’ve been in since 2009.”

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Anyone believe a less that 2% cpi?

Not me!

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Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.

By Husna Haq, Correspondent / February 22, 2013


POLITICAL: France has a top rate of 75%

Friday, September 28, 2012

http://www.reuters.com/article/2012/09/28/us-france-budget-idUSBRE88R0AK20120928

France taxes rich and business to slash deficit
By Daniel Flynn and Leigh Thomas
PARIS | Fri Sep 28, 2012 7:49am EDT

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(Reuters) – President Francois Hollande’s Socialist government unveiled sharp tax hikes on business and the rich on Friday in a 2013 budget aimed at showing France has the fiscal rigor to remain at the core of the euro zone.

The package will recoup 30 billion euros ($39 billion) for the public purse with a goal of narrowing the deficit to 3.0 percent of national output next year from 4.5 percent this year – France’s toughest single belt-tightening in 30 years.

But with record unemployment and a barrage of data pointing to economic stagnation, there are fears the deficit target will slip as France falls short of the modest 0.8 percent economic growth rate on which it is banking for next year.

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Here’s a country that’s going be a laboratory for high tax rates.

Better them than us.

The USA has growth rate below 2 and the true unemployment rate (U6) above 15%.

The Gooferment deficit, debt, and spending are spinning out of control; the Senate doesn’t even deign to do a budget.

I’m no fan of either party’s offering. But four more years of European style Gooferment is going to push the economy over the edge.

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FUN: Bernard McGirk on “replacement refs”

Thursday, September 27, 2012

“Our long national nightmare is over!. — Bernard McGirk on the Don Imus show about the regular refs coming back to work

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We have so many problems. Serious problems — unemployment, deficit, debt, crime in Chicago, immigration, … … California finances, crony capitalism … … 

… … where in this list is “replacement refs”?

Argh!

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POLITICAL: Big Gooferment is even bigger than we think?

Friday, April 20, 2012

http://www.theblaze.com/stories/report-govt-may-be-bigger-than-you-think/

Business Report: Gov’t May Be Bigger Than You Think
Posted on April 2, 2012 at 6:45pm by Becket Adams

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But the tax break isn’t counted as spending. In fact, while the check for $2,100 is classified as “federal spending,” the tax break doesn’t even show up on the federal budget. So when you hear a policymaker talk about lowering the deficit or expanding/reducing the size of government, most of them don’t factor in tax breaks.

The CNN report goes on to argue that because tax breaks get the same results as government checks (e.g. giving homeowners deductions on mortgage interest, giving tax credits to “green” energy companies, etc), they’re practically interchangeable, right?

Not quite: the government check is directly funded by taxpayers while the tax break comes at a cost to no one.

But this is not to say that tax breaks should be disregarded from the deficit discussion. As taxes generate income, and fixing the deficit is all about balancing revenue with expenditures, then tax breaks should be included.

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That makes me ill.

Bigger?

Seriously. Are you kidding me!

23.7%

Argh!

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Business Report: Gov’t May Be Bigger Than You Think
Posted on April 2, 2012 at 6:45pm by Becket Adams Becket Adams

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