Archive for July, 2011
Democratic and Republican Party’s Dirty Secret: The National Debt Will Increase Over $7,000 Billion In Next 10 Years and Over $1,000 Billion In Fiscal Year 2012–Unbelievably Irresponsbile And Arrogant–Videos
National Cancer: ‘No plan treats debt, just its growth speed’
Brother, Can You Spare A Trillion?: Government Gone Wild!
The National Debt Road Trip
The only thing both political parties argue about is the rate of growth of the budget baseline.
Neither party actual cuts the budget baseline.
As a result the Fiscal Year 2012 budget which starts on October 1 and end September 30, 2012 will be about $1,000 billion in deficit!
This is not being fiscally responsible.
For the next ten years the total deficits will exceed over $7,000 billion.
Thus the National Debt will increase over $7,000 billion and Federal government outlays will increase in every Fiscal Year.
The so-called political ruling class are addicted to spending the American people money.
Both political parties refuse to balance the budget.
Through the bums out!
Read Full Post | Make a Comment ( None so far )Fiscally Responsible Republicans Number Only 22 In The House of Representatives–Time For The Fiscal Responsibility Pledge– Videos
Speaker Boehner: “This House Has Acted”
The Boehner Bill Is Passed 218 – 210
Ron Paul: No Doubt The Debt Limit Will Be Raised
Only 22 Republicans voted no to the Boehner Bill:
Justin Amash (Mich.)
Michele Bachmann (Minn.)
Chip Cravaack (Minn.)
Jason Chaffetz (Utah)
Scott Desjarlais (Tenn.)
Tom Graves (Ga.)
Tim Huelskamp (Kans.)
Steve King (Iowa)
Tim Johnson (Ill.)
Tom McClintock (Calif.)
Mick Mulvaney (S.C.)
Ron Paul (Texas)
Connie Mack (Fla.)
Jim Jordan (Ohio)
Tim Scott (S.C.)
Paul Broun (Ga.)
Tom Latham (Iowa)
Jeff Duncan (S.C.)
Trey Gowdy (S.C.)
Steve Southerland (Fla.)
Joe Walsh (Ill.)
Joe Wilson (S.C.)
Thank you.
Time to get all candidates for public office to sign the Fiscal Responsibility Pledge:
American Citizens for Fiscal Responsibility
“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.”
~Thomas Jefferson
Fiscal Responsibility Pledge
I, ________________________________________, pledge to the taxpayers of the state
of ____________________________, and to the American people that I will:
1. Support and vote for only balanced budgets or surplus budgets where total estimated Federal government tax revenues for each fiscal year equals or exceeds total estimated Federal government spending outlays.
2. Support and vote for only decreases in the national debt ceiling.
3. Support and vote for the FairTax. The FairTax abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax on new goods and services, and administered primarily by existing state sales tax authorities. Once enacted any changes in the FairTax or increases in the FairTax rate will require two-thirds roll call vote of the House of Representatives and Senate.
4. Support and vote for the repeal of the 16th Amendment to the Constitution of the United States.
5. Support and vote for a balanced budget Amendment to the Constitution of the United State which allows budget surpluses or requires the balancing of tax revenues and spending outlays each fiscal year, limits Federal Government spending to eight-teen percent (18%) of Gross Domestic Product or less, requires a two-thirds majority roll call vote for any proposed tax increase in the House of Representatives and Senate and where the only exception to a surplus budget or balanced budget is the passage of a declaration of war that would require unbalanced budgets and increases in the national debt.
___________________________________________ ___________________________________
Signature Date Signed
__________________________________________ ___________________________________
Witness Witness
Pledge must be signed, dated, witnessed and returned to the:
American Citizens for Fiscal Responsibility
10455 N. Central Expressway-#109-228
Dallas, Texas 75231
Tea Party Candidates And Elected Officials New Gold Standard For Balanced And Surplus Budgets, Lower Debt Ceilings and Tax Reform: Fiscal Responsibility Pledge To The American People–Videos
Read Full Post | Make a Comment ( None so far )When Will The National Bureau of Economic Research Business Cycle Dating Committee Determine The U.S. Economy Is In A Recession?–Within 90 Days–Yes We Are In A Double-Dip Recession!–Videos
Achuthan Expects `Double Dip Scare’ for U.S. Economy
Komileva Says a `Double Dip’ U.S. Recession Is Possible
Double-Dip Recession Concerns
Obama: “I’m Not Concerned About A Double-Dip Recession”
Are we at risk of a double dip?
Employment, Hours, and Earnings from the Current Employment Statistics survey (National)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 137094 | 137182 | 137400 | 137479 | 137620 | 137687 | 137638 | 137612 | 137681 | 137772 | 137899 | 137983 | |
| 2008 | 137996 | 137913 | 137841 | 137656 | 137423 | 137245 | 137014 | 136747 | 136313 | 135804 | 135002 | 134383 | |
| 2009 | 133563 | 132837 | 132041 | 131381 | 130995 | 130493 | 130193 | 129962 | 129726 | 129505 | 129450 | 129320 | |
| 2010 | 129281 | 129246 | 129438 | 129715 | 130173 | 129981 | 129932 | 129873 | 129844 | 130015 | 130108 | 130260 | |
| 2011 | 130328 | 130563 | 130757 | 130974 | 130999(P) | 131017(P) | |||||||
| P : preliminary | |||||||||||||
It appears the U.S. economy hit a peak in economic activity around June 2010.
Since then the growth rate of Gross Domestic Product has fallen for four consecutive quarters.
This definitely looks like the U.S. economy is in a contractionary period or recession.
When will the NBER’s Business Cycle Dating Committee officially call this a recession?
I suspect they will wait for at least another quarter of gross domestic product and employment data.
Let the committee take all the time it wants but once total nonfarm employment declines they will have little choice but to call the start of the recession around the middle of 2010.
Once this happens, a second term for President Obama is very unlikely.
The American people already know the U.S. economy has been in a double dip recession for nearly a year.
Now is the time for economists to make it official.
Recession done in ’09-NBER
News Update: NBER Calls An End To Longest Recession Since WWII
Background Articles and Videos
The NBER’s Business Cycle Dating Committee
“…The NBER’s Business Cycle Dating Committee maintains a chronology of the U.S. business cycle. The chronology comprises alternating dates of peaks and troughs in economic activity. A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. During a recession, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year. Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years.
In both recessions and expansions, brief reversals in economic activity may occur-a recession may include a short period of expansion followed by further decline; an expansion may include a short period of contraction followed by further growth. The Committee applies its judgment based on the above definitions of recessions and expansions and has no fixed rule to determine whether a contraction is only a short interruption of an expansion, or an expansion is only a short interruption of a contraction. The most recent example of such a judgment that was less than obvious was in 1980-1982, when the Committee determined that the contraction that began in 1981 was not a continuation of the one that began in 1980, but rather a separate full recession.
The Committee does not have a fixed definition of economic activity. It examines and compares the behavior of various measures of broad activity: real GDP measured on the product and income sides, economy-wide employment, and real income. The Committee also may consider indicators that do not cover the entire economy, such as real sales and the Federal Reserve’s index of industrial production (IP). The Committee’s use of these indicators in conjunction with the broad measures recognizes the issue of double-counting of sectors included in both those indicators and the broad measures. Still, a well-defined peak or trough in real sales or IP might help to determine the overall peak or trough dates, particularly if the economy-wide indicators are in conflict or do not have well-defined peaks or troughs. …”
http://www.nber.org/cycles/recessions.html
The NBER’s Recession Dating Procedure
Business Cycle Dating Committee, National Bureau of Economic Research
January 7, 2008
“…The National Bureau’s Business Cycle Dating Committee maintains a chronology of the U.S. business cycle. The chronology identifies the dates of peaks and troughs that frame economic recession or expansion. The period from a peak to a trough is a recession and the period from a trough to a peak is an expansion. According to the chronology, the most recent peak occurred in March 2001, ending a record-long expansion that began in 1991. The most recent trough occurred in November 2001, inaugurating an expansion.
A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades.
In choosing the dates of business-cycle turning points, we follow standard procedures to assure continuity in the chronology. Because a recession influences the economy broadly and is not confined to one sector, we emphasize economy-wide measures of economic activity. We view real GDP as the single best measure of aggregate economic activity. In determining whether a recession has occurred and in identifying the approximate dates of the peak and the trough, we therefore place considerable weight on the estimates of real GDP issued by the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce. The traditional role of the committee is to maintain a monthly chronology, however, and the BEA’s real GDP estimates are only available quarterly. For this reason, we refer to a variety of monthly indicators to determine the months of peaks and troughs.
The committee places particular emphasis on two monthly measures of activity across the entire economy: (1) personal income less transfer payments, in real terms and (2) employment. In addition, we refer to two indicators with coverage primarily of manufacturing and goods: (3) industrial production and (4) the volume of sales of the manufacturing and wholesale-retail sectors adjusted for price changes. We also look at monthly estimates of real GDP such as those prepared by Macroeconomic Advisers (see http://www.macroadvisers.com). Although these indicators are the most important measures considered by the NBER in developing its business cycle chronology, there is no fixed rule about which other measures contribute information to the process.
The committee’s approach to determining the dates of turning points is retrospective. We wait until sufficient data are available to avoid the need for major revisions. In particular, in determining the date of a peak in activity, and thus the onset of recession, we wait until we are confident that, even in the event that activity begins to rise again immediately, it has declined enough to meet the criterion of depth. As a result, we tend to wait to identify a peak until many months after it actually occurs. …”
http://www.nber.org/cycles/jan2003.html
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The Second Obama Recession Starts Or The Great Obama Depression Continues–The Growth Rate of Gross Domestic Product Declines For Four Consecutive Quarters–The Economy Has Peaked And Entered A Period Of Stagflation–Rising Prices, Unemployment And Obama Misery Index!–Ron Paul To The Rescue?–Videos
National Bureau of Economic Research (NBER) Declares The Longest Post World War II Recession Over In June 2009–Over 25 Million Americans Still Looking For Full Time Job In September 2010!
President Obama’s Plan of Massive Deficit Spending Is Destroying The US Economy–The American People Say Stop Socialism BS Now!
The Second Obama Recession Starts Or The Great Obama Depression Continues–The Growth Rate of Gross Domestic Product Declines For Four Consecutive Quarters–The Economy Has Peaked And Entered A Period Of Stagflation–Rising Prices, Unemployment And Obama Misery Index!–Ron Paul To The Rescue?–Videos
Silvia Says GDP `Worst of All Worlds’ for Investors, Fed
Englund Cites Lower Consumption Figures in U.S. GDP Data
Morning Market Alert for July 29, 2011
July 29th 2011 CNBC Stock Market Squawk Box (Q2 GDP)
Stagflation by Ben Stein
- 2nd quarter 2011: 1.3 percent
- 1st quarter 2011: 0.4 percent
Government Debt and You
Ron Paul Says `No Doubt’ Debt Limit Will Be Raised
Ron Paul Speech on Debt Ceiling July 19 2011
Ron Paul 2012: Debt Ceiling, Default, & Inflation
Ron Paul Bring the Troops Home & Balance the Budget
Ron Paul’s Debt Solution: Bring the Troops Home, Fire Useless Bureaucrats, Phase Out Entitlements
The first quarter 2011 growth rate of Gross Domestic Product of 1.9% was revised downward to .4%.
The second quarter 2011 growth rate of Gross Domestic Product was 1.3%.
This is the fourth consecutive decline the quarterly growth rates of the Gross Domestic Product.
When the revised second quarter 2011 growth rate of Gross Domestic Product is published in late October 2011, the rate of growth of Gross Domestic Product could be negative.
The Great Obama Recession started June 2010 when the economy peaked.
This would mean that the economic recovery or expansion that started in July 2009 and ended in June 2010 was one of the shortest recovery or expansion periods in U.S. economic history with a duration of about one year.
Since the growth in Gross Domestic Product has fallen and the unemployment rates and consumer prices are rising, the U.S. economy is clearly in a period of stagflation–a period of low economic growth and high inflation.
Unemployment rates are heading for an estimated unemployment rate of about 10.2% in the first quarter of 2012.
Inflation rate depending upon how the rate is measured is heading for a range of between 6% to 10% in the first quarter of 2012.
The National Bureau of Economic Research Business Cycle Dating Committee chaired by Robert R. Hall needs to meet to officially call the start of a recession where the NBER committee defines a recession and expansion as follows:
A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. During a recession, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year. Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years.
http://www.nber.org/cycles/recessions.html
The Business Cycle Dating Committee dated the last recession from December 2007 when the economy reached a peak through June 2009 when the economy hit bottom or a trough :
“…The following graph shows the two main indicators the committee considers in deciding on the dates of turning points in economic activity, real GDP and payroll employment: …”
http://www.nber.org/programs/efg/efg.html
Employment, Hours, and Earnings from the Current Employment Statistics survey (National)
Series Id: CES0000000001
Seasonally Adjusted
Super Sector: Total nonfarm
Industry: Total nonfarm
NAICS Code: -
Data Type: ALL EMPLOYEES, THOUSANDS
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 137094 | 137182 | 137400 | 137479 | 137620 | 137687 | 137638 | 137612 | 137681 | 137772 | 137899 | 137983 | |
| 2008 | 137996 | 137913 | 137841 | 137656 | 137423 | 137245 | 137014 | 136747 | 136313 | 135804 | 135002 | 134383 | |
| 2009 | 133563 | 132837 | 132041 | 131381 | 130995 | 130493 | 130193 | 129962 | 129726 | 129505 | 129450 | 129320 | |
| 2010 | 129281 | 129246 | 129438 | 129715 | 130173 | 129981 | 129932 | 129873 | 129844 | 130015 | 130108 | 130260 | |
| 2011 | 130328 | 130563 | 130757 | 130974 | 130999(P) | 131017(P) |
Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product
[Percent] Seasonally adjusted at annual rates
Last Revised on: July 29, 2011 – Next Release Date August 26, 2011
| Line | 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| I | II | III | IV | I | II | III | IV | I | II | III | IV | I | II | III | IV | I | II | ||
| 1 | Gross domestic product | 0.5 | 3.6 | 3.0 | 1.7 | -1.8 | 1.3 | -3.7 | -8.9 | -6.7 | -0.7 | 1.7 | 3.8 | 3.9 | 3.8 | 2.5 | 2.3 | 0.4 | 1.3 |
| 2 | Personal consumption expenditures | 2.2 | 1.5 | 1.8 | 1.2 | -1.0 | -0.1 | -3.8 | -5.1 | -1.5 | -1.9 | 2.3 | 0.4 | 2.7 | 2.9 | 2.6 | 3.6 | 2.1 | 0.1 |
| 3 | Goods | 2.6 | 1.9 | 3.0 | 1.0 | -5.6 | 0.5 | -7.7 | -12.6 | 0.1 | -2.3 | 7.6 | 0.5 | 6.4 | 3.8 | 4.8 | 8.3 | 4.7 | -1.3 |
| 4 | Durable goods | 5.1 | 5.7 | 5.2 | 2.3 | -9.6 | -2.9 | -12.3 | -25.4 | 2.4 | -4.0 | 20.3 | -4.8 | 9.9 | 7.8 | 8.8 | 17.2 | 11.7 | -4.4 |
| 5 | Nondurable goods | 1.3 | -0.1 | 1.9 | 0.4 | -3.3 | 2.3 | -5.4 | -5.8 | -1.0 | -1.5 | 2.0 | 3.1 | 4.8 | 1.9 | 3.0 | 4.3 | 1.6 | 0.1 |
| 6 | Services | 2.0 | 1.4 | 1.1 | 1.3 | 1.5 | -0.5 | -1.7 | -1.2 | -2.3 | -1.7 | -0.1 | 0.4 | 1.0 | 2.5 | 1.6 | 1.3 | 0.8 | 0.8 |
| 7 | Gross private domestic investment | -3.9 | 9.2 | -3.0 | -9.3 | -12.2 | -6.0 | -16.5 | -33.9 | -46.7 | -22.8 | 2.9 | 36.8 | 31.5 | 26.4 | 9.2 | -7.1 | 3.8 | 7.1 |
| 8 | Fixed investment | -1.2 | 3.5 | -1.4 | -4.9 | -8.3 | -5.2 | -12.3 | -25.2 | -32.2 | -17.0 | 0.7 | -3.8 | 1.2 | 19.5 | 2.3 | 7.5 | 1.2 | 5.9 |
| 9 | Nonresidential | 6.5 | 10.8 | 9.1 | 5.4 | -0.8 | -2.3 | -9.9 | -22.9 | -31.3 | -15.8 | -3.3 | -3.7 | 6.0 | 18.6 | 11.3 | 8.7 | 2.1 | 6.3 |
| 10 | Structures | 10.7 | 28.0 | 24.3 | 7.4 | 0.8 | 9.4 | -3.7 | -10.2 | -32.1 | -33.3 | -20.1 | -30.8 | -24.7 | 7.5 | 4.2 | 10.5 | -14.3 | 8.1 |
| 11 | Equipment and software | 4.7 | 3.9 | 2.5 | 4.4 | -1.7 | -7.9 | -13.1 | -29.3 | -30.8 | -4.2 | 6.4 | 11.7 | 21.7 | 23.2 | 14.1 | 8.1 | 8.7 | 5.7 |
| 12 | Residential | -16.4 | -12.0 | -24.1 | -29.3 | -28.5 | -14.5 | -20.0 | -33.2 | -35.4 | -21.3 | 17.8 | -3.8 | -15.3 | 22.8 | -27.7 | 2.5 | -2.4 | 3.8 |
| 13 | Change in private inventories | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 14 | Net exports of goods and services | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 15 | Exports | 6.4 | 6.8 | 15.7 | 11.6 | 5.5 | 12.7 | -3.5 | -21.4 | -29.0 | -0.5 | 13.9 | 23.5 | 7.2 | 10.0 | 10.0 | 7.8 | 7.9 | 6.0 |
| 16 | Goods | 12.8 | 7.6 | 12.7 | 9.9 | 9.3 | 14.1 | -2.4 | -27.4 | -34.9 | -2.9 | 21.3 | 28.4 | 12.1 | 11.8 | 8.9 | 9.2 | 10.6 | 6.8 |
| 17 | Services | -6.9 | 4.9 | 23.0 | 15.7 | -2.7 | 9.5 | -6.2 | -5.6 | -14.7 | 4.7 | 0.1 | 13.7 | -2.7 | 6.1 | 12.6 | 4.7 | 1.7 | 4.0 |
| 18 | Imports | 5.9 | 2.0 | 1.0 | -5.2 | 1.4 | -2.5 | -6.6 | -14.9 | -34.0 | -15.0 | 16.3 | 17.4 | 12.5 | 21.6 | 12.3 | -2.3 | 8.3 | 1.3 |
| 19 | Goods | 8.4 | 1.7 | 0.3 | -5.5 | -0.6 | -2.2 | -9.1 | -18.5 | -37.1 | -17.9 | 19.6 | 21.8 | 14.4 | 26.0 | 12.4 | -0.5 | 9.5 | 1.5 |
| 20 | Services | -6.3 | 3.6 | 4.4 | -4.0 | 13.0 | -4.2 | 8.2 | 5.6 | -19.3 | -2.5 | 4.2 | 0.4 | 4.6 | 3.3 | 11.6 | -10.4 | 2.2 | 0.2 |
| 21 | Government consumption expenditures and gross investment | -0.5 | 3.4 | 3.5 | 1.2 | 3.1 | 1.7 | 4.3 | 1.6 | -1.7 | 5.9 | 1.3 | -0.9 | -1.2 | 3.7 | 1.0 | -2.8 | -5.9 | -1.1 |
| 22 | Federal | -4.8 | 7.1 | 9.6 | 1.1 | 9.7 | 4.9 | 11.7 | 9.1 | -3.3 | 14.4 | 5.9 | 2.2 | 2.8 | 8.8 | 3.2 | -3.0 | -9.4 | 2.2 |
| 23 | National defense | -7.2 | 8.3 | 10.2 | 0.0 | 8.2 | 5.4 | 17.6 | 8.3 | -7.5 | 16.3 | 8.2 | -1.3 | 0.5 | 6.0 | 5.7 | -5.9 | -12.6 | 7.3 |
| 24 | Nondefense | 0.5 | 4.7 | 8.2 | 3.4 | 13.0 | 3.9 | -0.1 | 10.9 | 6.5 | 10.4 | 1.0 | 9.9 | 7.8 | 14.7 | -1.8 | 3.1 | -2.7 | -7.3 |
| 25 | State and local | 2.1 | 1.3 | 0.2 | 1.3 | -0.6 | -0.1 | 0.1 | -2.8 | -0.8 | 0.9 | -1.5 | -2.9 | -3.9 | 0.4 | -0.5 | -2.7 | -3.4 | -3.4 |
Series Id: LNS14000000 Seasonally Adjusted Series title: (Seas) Unemployment Rate Labor force status: Unemployment rate Type of data: Percent or rate Age: 16 years and over
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2001 | 4.2 | 4.2 | 4.3 | 4.4 | 4.3 | 4.5 | 4.6 | 4.9 | 5.0 | 5.3 | 5.5 | 5.7 | |
| 2002 | 5.7 | 5.7 | 5.7 | 5.9 | 5.8 | 5.8 | 5.8 | 5.7 | 5.7 | 5.7 | 5.9 | 6.0 | |
| 2003 | 5.8 | 5.9 | 5.9 | 6.0 | 6.1 | 6.3 | 6.2 | 6.1 | 6.1 | 6.0 | 5.8 | 5.7 | |
| 2004 | 5.7 | 5.6 | 5.8 | 5.6 | 5.6 | 5.6 | 5.5 | 5.4 | 5.4 | 5.5 | 5.4 | 5.4 | |
| 2005 | 5.3 | 5.4 | 5.2 | 5.2 | 5.1 | 5.0 | 5.0 | 4.9 | 5.0 | 5.0 | 5.0 | 4.9 | |
| 2006 | 4.7 | 4.8 | 4.7 | 4.7 | 4.6 | 4.6 | 4.7 | 4.7 | 4.5 | 4.4 | 4.5 | 4.4 | |
| 2007 | 4.6 | 4.5 | 4.4 | 4.5 | 4.4 | 4.6 | 4.7 | 4.6 | 4.7 | 4.7 | 4.7 | 5.0 | |
| 2008 | 5.0 | 4.8 | 5.1 | 4.9 | 5.4 | 5.6 | 5.8 | 6.1 | 6.2 | 6.6 | 6.8 | 7.3 | |
| 2009 | 7.8 | 8.2 | 8.6 | 8.9 | 9.4 | 9.5 | 9.5 | 9.7 | 9.8 | 10.1 | 9.9 | 9.9 | |
| 2010 | 9.7 | 9.7 | 9.7 | 9.8 | 9.6 | 9.5 | 9.5 | 9.6 | 9.6 | 9.7 | 9.8 | 9.4 | |
| 2011 | 9.0 | 8.9 | 8.8 | 9.0 | 9.1 | 9.2 |
Nonfarm employment is leveling off at 131 million and the growth in real GDP has reached a peak of 3.8% in the second quarter of 2010 and is falling.
While the National Bureau of Economic Research Business Cycle Dating Committee might wait for another quarter of real GDP and employment data, they will be forced to conclude that the U.S. economy is in another recession by November 1 at the very latest.
Once this happens, President Obama’s chances for a second term will fall dramatically.
By election day November 2012 I fully expect the unemployment rate will be at or above 9% and inflation exceeding 9% for an estimated Obama Misery Index of about 18%. The Misery Index is simply the sum of the inflation and unemployment rates and is often used as a predictor of who will win a Presidential election.
The American people will vote their wallets with the most important issues being jobs, the economy and rising inflation.
Whoever the Republicans decide to be their candidate for the office of President of the United States will be elected President and the Republican Party will regain their majority in the Senate and increase their majority is the House of Representatives.
The only Republican candidate who fully understands the economic crisis the United States is in and what needs to be done is Ron Paul.
The American people trust Ron Paul based on his principled and consistent twenty year voting record in Congress against massive Government spending and debt and against government intervention into the economy at home and against government intervention abroad.
Should Ron Paul be nominated by the Republican Party he will be the next President of the United States.
Both the Democratic and Republican Party establishments in Washington D.C. , the so-called “ruling class”, will oppose him.
Ron Paul wants to limit the size and scope of the Federal Government.
This would mean cuts in warfare and welfare spending and closing permanently eight Federal Departments, the Internal Revenue Service and Federal Reserve.
Only a grassroots movement of the American people will result in Ron Paul being nominated and elected President of the United States.
When the Obama Misery Index (OMI) is over 15% and the economy in the middle of the Great Obama Depression, Ron Paul may just get the support and votes of the American people.
The “Obama Misery Index”
Romney Wants to Hang Misery Index Around Obama’s Neck
Rank |
President |
Time Period |
Average |
Low | High | Start |
End |
Change |
|---|---|---|---|---|---|---|---|---|
| 4 | Harry Truman | 1948–1952 | 7.88 | Dec 1952 = 3.45 | Jan 1948 = 13.63 | 13.63 | 3.45 | -10.18 |
| 1 | Dwight D. Eisenhower | 1953–1960 | 6.26 | Jul 1953 = 2.97 | Apr 1958 = 10.98 | 3.28 | 7.96 | +4.68 |
| 3 | John F. Kennedy | 1961–1962 | 7.14 | Jul 1962 = 6.40 | Jul 1961 = 8.38 | 8.31 | 6.82 | -1.49 |
| 2 | Lyndon B. Johnson | 1963–1968 | 6.77 | Nov 1965 = 5.70 | Jul 1968 = 8.19 | 7.02 | 8.12 | +1.10 |
| 8 | Richard Nixon | 1969–1973 | 10.57 | Jan 1969 = 7.80 | Jul 1974 = 17.01 | 7.80 | 17.01 | +9.21 |
| 10 | Gerald Ford | 1974–1976 | 16.00 | Dec 1976 = 12.66 | Jan 1975 = 19.90 | 16.36 | 12.66 | -3.70 |
| 11 | Jimmy Carter | 1977–1980 | 16.26 | Apr 1978 = 12.60 | Jun 1980 = 21.98 | 12.72 | 19.72 | +7.00 |
| 9 | Ronald Reagan | 1981–1988 | 12.19 | Dec 1986 = 7.70 | Jan 1981 = 19.33 | 19.33 | 9.72 | -9.61 |
| 7 | George H. W. Bush | 1989–1992 | 10.68 | Sep 1989 = 9.64 | Nov 1990 = 12.47 | 10.07 | 10.30 | +0.23 |
| 6 | Bill Clinton | 1993–2000 | 7.80 | Apr 1998 = 5.74 | Jan 1993 = 10.56 | 10.56 | 7.29 | -3.27 |
| 5 | George W. Bush | 2001–2008 | 8.11 | Oct 2006 = 5.71 | Aug 2008 = 11.47 | 7.93 | 7.49 | -0.44 |
| N/A | Barack Obama | 2009–Present Incomplete data Data updated through June 2011 |
10.45 | July 2009 = 7.30 index offset by negative inflation (-2.10) |
June 2011 = 12.76 | 7.73 | 12.76 | +4.93 |
Weak growth raises concerns on economy
“…The U.S. economycame perilously close to flat-lining in the first quarter and grew at a meager 1.3 percent annual rate in the April-June period as consumer spending barely rose.
The Commerce Department data on Friday also showed the current lull in the economy began earlier than had been thought, with the growth losing steam late last year.
That could raise questions on the long held view by both Federal Reserve officials and independent economists that the slowdown in growth as the year started was largely the result of transitory factors.
Growth in gross domestic product — a measure of all goods and services produced within U.S. borders – rose at a 1.3 percent annual rate. First-quarter output was sharply revised down to a 0.4 percent pace from a 1.9 percent increase.
Economists had expected the economy to expand at a 1.8 percent rate in the second quarter. Fourth-quarter growth was revised to a 2.3 percent rate from 3.1 percent.
“The second quarter disappointed, but the first-quarter downward revision is more disturbing. It advances the pangs of concern. The debt ceiling nonsense is not going to help us. We’re already in an economy that is subpar,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. …”
http://www.reuters.com/article/2011/07/29/us-usa-economy-idUSTRE7662I420110729
Rodney Dangerfield’s First Economics Class
Background Articles and Videos
Americans cut spending for first time in 20 months
By MARTIN CRUTSINGER – AP Economics Writer
“…Americans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing.
Consumer spending dropped 0.2 percent in June, the Commerce Department said Tuesday. Some of the decline was caused by declining food and energy prices, which had spiked in recent months. When excluding spending on those items, consumer spending was flat.
Incomes rose 0.1 percent, the weakest growth since September. Many people are responding by saving more. The personal savings rate rose to 5.4 percent of after-tax incomes, the highest level since August 2010.
The data confirmed last week’s report that showed the U.S. economy expanded at a tepid annual rate of 1.3 percent in the spring after only 0.4 percent growth in the first three months of the year. But it also highlighted that consumer spending weakened during the April-June quarter, which could mean the sluggish economy is worsening. …”
http://news.yahoo.com/americans-cut-spending-first-time-20-months-123819626.html
Gross Domestic Product: Second Quarter 2011 (Advance Estimate)
Revised Estimates: 2003 through First Quarter 2011
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.3 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.4 percent. The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 3). The "second" estimate for the second quarter, based on more complete data, will be released on August 26, 2011. The estimates released today reflect the annual revision of the national income and product accounts (NIPAs). In addition to the regular revision of estimates for the most recent 3 years and the first quarter of 2011, current-dollar GDP and some components are revised back to the first quarter of 2003. In cases for which the estimates for the reference year (2005) are revised, this results in revisions to the levels of the related index numbers and chained-dollar estimates for the entire historical period; revisions to percent changes before the first quarter of 2003 are small. Annual revisions, which are usually released in July, incorporate source data that are more complete, more detailed, and otherwise more reliable than those previously available. This release includes the revised quarterly estimates of GDP, corporate profits, and personal income and provides an overview of the results of the revision. The August 2011 Survey of Current Business will contain NIPA tables and an article describing the revisions. The complete set of revised estimates will be available on BEA’s Web site at www.bea.gov. ________________ FOOTNOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent changes are calculated from unrounded data and are annualized. “Real” estimates are in chained (2005) dollars. Price indexes are chain-type measures. This news release is available on BEA’s Web site along with the Technical Note and Highlightsrelated to this release. ________________ The increase in real GDP in the second quarter primarily reflected positive contributions from exports, nonresidential fixed investment, private inventory investment, and federal government spending that were partly offset by a negative contribution from state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased. The acceleration in real GDP in the second quarter primarily reflected a deceleration in imports, an upturn in federal government spending, and an acceleration in nonresidential fixed investment that were partly offset by a sharp deceleration in personal consumption expenditures. Final sales of computers added 0.15 percentage point to the second-quarter change in real GDP after adding 0.08 percentage point to the first-quarter change. Motor vehicle output subtracted 0.12 percentage point from the second-quarter change in real GDP after adding 1.08 percentage points to the first-quarter change. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 3.2 percent in the second quarter, compared with an increase of 4.0 percent in the first. Excluding food and energy prices, the price index for gross domestic purchases increased 2.6 percent in the second quarter, compared with an increase of 2.4 percent in the first. Real personal consumption expenditures increased 0.1 percent in the second quarter, compared with an increase of 2.1 percent in the first. Durable goods decreased 4.4 percent, in contrast to an increase of 11.7 percent. Nondurable goods increased 0.1 percent, compared with an increase of 1.6 percent. Services increased 0.8 percent, the same increase as in the first. Real nonresidential fixed investment increased 6.3 percent in the second quarter, compared with an increase of 2.1 percent in the first. Nonresidential structures increased 8.1 percent, in contrast to a decrease of 14.3 percent. Equipment and software increased 5.7 percent, compared with an increase of 8.7 percent. Real residential fixed investment increased 3.8 percent, in contrast to a decrease of 2.4 percent. Real exports of goods and services increased 6.0 percent in the second quarter, compared with an increase of 7.9 percent in the first. Real imports of goods and services increased 1.3 percent, compared with an increase of 8.3 percent. Real federal government consumption expenditures and gross investment increased 2.2 percent in the second quarter, in contrast to a decrease of 9.4 percent in the first. National defense increased 7.3 percent, in contrast to a decrease of 12.6 percent. Nondefense decreased 7.3 percent, compared with a decrease of 2.7 percent. Real state and local government consumption expenditures and gross investment decreased 3.4 percent, the same decrease as in the first. The change in real private inventories added 0.18 percentage point to the second-quarter change in real GDP after adding 0.32 percentage point to the first-quarter change. Private businesses increased inventories $49.6 billion in the second quarter, following increases of $49.1 billion in the first quarter and $38.3 billion in the fourth. Real final sales of domestic product -- GDP less change in private inventories -- increased 1.1 percent in the second quarter, after increasing less than 0.1 percent. Gross domestic purchases Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- increased 0.7 percent in the second quarter, the same increase as in the first. Disposition of personal income Current-dollar personal income increased $132.5 billion (4.2 percent) in the second quarter, compared with an increase of $251.9 billion (8.3 percent) in the first. Personal current taxes increased $22.6 billion in the second quarter, compared with an increase of $122.3 billion in the first. Disposable personal income increased $109.9 billion (3.9 percent) in the second quarter, compared with an increase of $129.6 billion (4.7 percent) in the first. Real disposable personal income increased 0.7 percent, the same increase as in the first quarter. Personal outlays increased $83.5 billion (3.1 percent) in the second quarter, compared with an increase of $153.5 billion (5.8 percent) in the first. Personal saving -- disposable personal income less personal outlays -- was $590.6 billion in the second quarter, compared with $564.3 billion in the first. The personal saving rate -- saving as a percentage of disposable personal income -- was 5.1 percent in the second quarter, compared with 4.9 percent in the first. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to www.bea.gov/national/nipaweb/Nipa-Frb.asp. Current-dollar GDP Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 3.7 percent, or $136.0 billion, in the second quarter to a level of $15,003.8 billion. In the first quarter, current-dollar GDP increased 3.1 percent, or $112.8 billion. http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
The NBER’s Business Cycle Dating Committee
“…The NBER’s Business Cycle Dating Committee maintains a chronology of the U.S. business cycle. The chronology comprises alternating dates of peaks and troughs in economic activity. A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. During a recession, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year. Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years.
In both recessions and expansions, brief reversals in economic activity may occur-a recession may include a short period of expansion followed by further decline; an expansion may include a short period of contraction followed by further growth. The Committee applies its judgment based on the above definitions of recessions and expansions and has no fixed rule to determine whether a contraction is only a short interruption of an expansion, or an expansion is only a short interruption of a contraction. The most recent example of such a judgment that was less than obvious was in 1980-1982, when the Committee determined that the contraction that began in 1981 was not a continuation of the one that began in 1980, but rather a separate full recession.
The Committee does not have a fixed definition of economic activity. It examines and compares the behavior of various measures of broad activity: real GDP measured on the product and income sides, economy-wide employment, and real income. The Committee also may consider indicators that do not cover the entire economy, such as real sales and the Federal Reserve’s index of industrial production (IP). The Committee’s use of these indicators in conjunction with the broad measures recognizes the issue of double-counting of sectors included in both those indicators and the broad measures. Still, a well-defined peak or trough in real sales or IP might help to determine the overall peak or trough dates, particularly if the economy-wide indicators are in conflict or do not have well-defined peaks or troughs. …”
http://www.nber.org/cycles/recessions.html
Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product
[Percent] Seasonally adjusted at annual rates
Last Revised on: July 29, 2011 – Next Release Date August 26, 2011
| Line | 2009 | 2010 | 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| I | II | III | IV | I | II | III | IV | I | II | ||
| 1 | Gross domestic product | -6.7 | -0.7 | 1.7 | 3.8 | 3.9 | 3.8 | 2.5 | 2.3 | 0.4 | 1.3 |
| 2 | Personal consumption expenditures | -1.5 | -1.9 | 2.3 | 0.4 | 2.7 | 2.9 | 2.6 | 3.6 | 2.1 | 0.1 |
| 3 | Goods | 0.1 | -2.3 | 7.6 | 0.5 | 6.4 | 3.8 | 4.8 | 8.3 | 4.7 | -1.3 |
| 4 | Durable goods | 2.4 | -4.0 | 20.3 | -4.8 | 9.9 | 7.8 | 8.8 | 17.2 | 11.7 | -4.4 |
| 5 | Nondurable goods | -1.0 | -1.5 | 2.0 | 3.1 | 4.8 | 1.9 | 3.0 | 4.3 | 1.6 | 0.1 |
| 6 | Services | -2.3 | -1.7 | -0.1 | 0.4 | 1.0 | 2.5 | 1.6 | 1.3 | 0.8 | 0.8 |
| 7 | Gross private domestic investment | -46.7 | -22.8 | 2.9 | 36.8 | 31.5 | 26.4 | 9.2 | -7.1 | 3.8 | 7.1 |
| 8 | Fixed investment | -32.2 | -17.0 | 0.7 | -3.8 | 1.2 | 19.5 | 2.3 | 7.5 | 1.2 | 5.9 |
| 9 | Nonresidential | -31.3 | -15.8 | -3.3 | -3.7 | 6.0 | 18.6 | 11.3 | 8.7 | 2.1 | 6.3 |
| 10 | Structures | -32.1 | -33.3 | -20.1 | -30.8 | -24.7 | 7.5 | 4.2 | 10.5 | -14.3 | 8.1 |
| 11 | Equipment and software | -30.8 | -4.2 | 6.4 | 11.7 | 21.7 | 23.2 | 14.1 | 8.1 | 8.7 | 5.7 |
| 12 | Residential | -35.4 | -21.3 | 17.8 | -3.8 | -15.3 | 22.8 | -27.7 | 2.5 | -2.4 | 3.8 |
| 13 | Change in private inventories | — | — | — | — | — | — | — | — | — | — |
| 14 | Net exports of goods and services | — | — | — | — | — | — | — | — | — | — |
| 15 | Exports | -29.0 | -0.5 | 13.9 | 23.5 | 7.2 | 10.0 | 10.0 | 7.8 | 7.9 | 6.0 |
| 16 | Goods | -34.9 | -2.9 | 21.3 | 28.4 | 12.1 | 11.8 | 8.9 | 9.2 | 10.6 | 6.8 |
| 17 | Services | -14.7 | 4.7 | 0.1 | 13.7 | -2.7 | 6.1 | 12.6 | 4.7 | 1.7 | 4.0 |
| 18 | Imports | -34.0 | -15.0 | 16.3 | 17.4 | 12.5 | 21.6 | 12.3 | -2.3 | 8.3 | 1.3 |
| 19 | Goods | -37.1 | -17.9 | 19.6 | 21.8 | 14.4 | 26.0 | 12.4 | -0.5 | 9.5 | 1.5 |
| 20 | Services | -19.3 | -2.5 | 4.2 | 0.4 | 4.6 | 3.3 | 11.6 | -10.4 | 2.2 | 0.2 |
| 21 | Government consumption expenditures and gross investment | -1.7 | 5.9 | 1.3 | -0.9 | -1.2 | 3.7 | 1.0 | -2.8 | -5.9 | -1.1 |
| 22 | Federal | -3.3 | 14.4 | 5.9 | 2.2 | 2.8 | 8.8 | 3.2 | -3.0 | -9.4 | 2.2 |
| 23 | National defense | -7.5 | 16.3 | 8.2 | -1.3 | 0.5 | 6.0 | 5.7 | -5.9 | -12.6 | 7.3 |
| 24 | Nondefense | 6.5 | 10.4 | 1.0 | 9.9 | 7.8 | 14.7 | -1.8 | 3.1 | -2.7 | -7.3 |
| 25 | State and local | -0.8 | 0.9 | -1.5 | -2.9 | -3.9 | 0.4 | -0.5 | -2.7 | -3.4 | -3.4 |
Stagflation
“…In economics, stagflation is a situation in which the inflation rate is high and the economic growth rate is low. It raises a dilemma for economic policy since actions designed to lower inflation may worsen economic growth and vice versa. The portmanteau stagflation is generally attributed to British politician Iain Macleod, who coined the phrase in his speech to Parliament in 1965.[1][2][3] [4]
The concept is notable becase, in Keynesian macroeconomic theory which was dominant between the end of WWII and the late-1970′s, inflation and recession were regarded as mutually exclusive, the relationship between the two being described by the Phillips curve. In addition because stagflation has generally proven to be difficult and, in human terms as well as budget deficits, very costly to eradicate once it starts.
In the political arena one measure of stagflation termed the Misery Index (derived by the simple addition of the inflation rate to the unemployment rate) was used to swing presidential elections in the United States in 1976 and 1980. …”
http://en.wikipedia.org/wiki/Stagflation
Misery Index
“…The misery index is an economic indicator, created by economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.[1] It is often incorrectly attributed to Harvard economist Robert Barro in the 1970s, due to the Barro Misery Index that additionally includes GDP and the bank rate.[2]
A 2001 paper looking at large-scale surveys in Europe and the United States concluded that the basic misery index underweights the unhappiness caused by joblessness: “the estimates suggest that people would trade off a 1-percentage-point increase in the unemployment rate for a 1.7-percentage-point increase in the inflation rate.”[3] …”
http://en.wikipedia.org/wiki/Misery_index_(economics)
US Business Cycle Expansions and Contractions
http://www.nber.org/cycles/cyclesmain.html
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Pronk Pops Show 38
Pronk Pops Show 38, July 27, 2011
Segment 0: Tea Party Democrats, Republicans, and Independents Betrayed–Tell The Democratic and Republican Establishments To Balance The Budget and Cut The Debt Ceiling–Just Say No To Obama, Reid, Boehner and Ryan Unbalanced Budgets–Videos
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Pronk Pops Show 37
Pronk Pops Show 37, July 21, 2011, Part 1
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Pronk Pops Show 36
Pronk Pops Show 36, July 13, 2011
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Pronk Pops Show 35, July 6, 2015
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Pronk Pops Show 34
Pronk Pops Show 34, June 29, 2011
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Pronk Pops Show 33
Pronk Pops Show 33, June 22, 2011
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Pronk Pops Show 32
Pronk Pops Show 32, June 15, 2011
Segment 0: Money, Organization, Message, Momentum, Ambition–MOMMA–You Need MOMMA To Win A Presidential Race!–Videos
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Segment 1: Republican Presidential Debate In New Hampshire June 13, 2011–American People The Winner–Obama The Loser–Videos
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Segment 2: The Political Issues of 2012 Elections: #1–Unemployment–Jobs, #2–Government Spending–Balanced Budgets, #3-Tax Reform–The FairTax, #4-Inflation–End The Fed, #5-Wars–Bring The Troops Home–Videos
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Pronk Pops Show 31
Pronk Pops Show 31: June 8, 2011
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Pronk Pops Show 30
Pronk Pops Show, June 2, 2011
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Pronk Pops Show 29
Pronk Pops Show 29, May 26, 2011
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Pronk Pops Show 28
May 18, 2011 04:26 PM PDT
Pronk Pops Show 28, May 18, 2011
Segment 1: Segment 1: Newt Gingrich Running For President As A Big Government Interventionist Republican Progressive aka Green “Compassionate” Conservative?–Favors Individual Health Care Mandates While Attacking Paul Ryan As A Right Wing Radical Social Engineer For Proposing A Premium Support or $15,000 Voucher System To Save Medicare From Bankruptcy!–Videos
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Pronk Pops Show 27
May 11, 2011 10:13 AM PDT
Pronk Pops Show 27, May 10, 2011
Segment 1: Bureau of Labor Statistics Official Unemployment Rate (U-3) Increased To 9.0% With 13.7 Million Americans Unemployed and Total Unemployment Rate (U-6) Increased To 15.9% With 24.4 Million Americans Seeking Full Time Job–Economy Adds 244,000 Jobs But Initial Unemployment Claims Hit Eight Month High of 474,000!–Videos
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Pronk Pops Show 26
April 27, 2011 11:28 AM PDT
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Pronk Pops Show 24: April 19, 2011
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Segment 1: Who is John Galt? Who is Ayn Rand–Videos
For additional information and videos:
Segment 2: President Obama’s Fiscal Year 2012 Budget Speech Of April 13, 2011–Eat The Rich And Killing The American Dream Class Warfare–Cuts National Security Spending and Raise Taxes On The Rich–Produces Massive Deficits, National Debt, and Higher Unemployment For 12 More Years–Progressive Radical Socialist Economic Stagflation–Videos
For additional information and videos:
http://pronkpops.wordpress.com/2011/04/18/pronk-pops-show-24-april-18-2011-segment-2-president-obamas-fiscal-year-2012-budget-speech-of-april-13-2011-eat-the-rich-and-killing-the-american-dream-class-warfare-cuts-national-security-sp/
Segment 3: The FairTax (National Consumption Sales Tax) vs. The Flat Tax (One Rate Federal Income Tax)–Who Pays The Most Federal Individual Income Tax? Videos
For additional information and videos:
Pronk Pops Show 23
Pronk Pops Show 23: April 12, 2011
Segment 0: Sidney Lumet–Rest In Peace–Videos
Segment 1: Tea Party Movement Demands Passage of Balanced Budget Amendment and The FairTax As The Price For Raising The National Statutory Debt Limit of $ 14,294,000,000 One Last Time By $1,000,000,000,000!–Videos
For additional information and videos:
Segment 2: The FairTax (National Consumption Sales Tax) vs. The Flat Tax (One Rate Federal Income Tax)–Who Pays The Most Federal Individual Income Tax? Videos
For additional information and videos:
Pronk Pops Show 22 (Part 2)
Pronk Pops Show 22, April 7, 2011
Segment 1: 3,500,000 Million Americans Unemployed in March 2011 Still Exceeds Great Depression High of 13,000,000 In March 1933–The Obama Depressions Continues–Bureau of Labor Statistics: 8.8% Official Unemployment Rate (U-3) vs. Gallup Unemployment Rate of 10.0%–Nonfarm Payroll Increased By 216,000–The Government Makes The Depression Worse!–Videos
Segment 2: Obama’s Anti-American, Anti-Capitalist, Anti-Growth, Anti-Jobs, and Anti-Security Energy Policy–Videos
Segment 3: Republican Establishment Will Propose A Ten Year $6,200 Billion Cut In Spending Over Ten Years–The Problem Is It Does Not Balance The Budget For Another Five Years At The Earliest–Tea Party Movement Demands Balanced Budgets Starting In 2012 For The Next Ten Years!–A Jet Plane To Prosperity Not A Path To Prosperity–Videos
Segment 4: Just One More Thing Congressman Ryan: When Does The Republican’s Path To Prosperity Balance The Budget?–The Twelth of Never!–Videos
For additional information and videos on the above segments:
Pronk Pops Show 22 (Part 1)
Pronk Pops: Show 22, April 7, 2011
Segment 0: Glenn Beck Ending His Show At Fox News
Segment 1: 3,500,000 Million Americans Unemployed in March 2011 Still Exceeds Great Depression High of 13,000,000 In March 1933–The Obama Depressions Continues–Bureau of Labor Statistics: 8.8% Official Unemployment Rate (U-3) vs. Gallup Unemployment Rate of 10.0%–Nonfarm Payroll Increased By 216,000–The Government Makes The Depression Worse!–Videos
Segment 2: Obama’s Anti-American, Anti-Capitalist, Anti-Growth, Anti-Jobs, and Anti-Security Energy Policy–Videos
Segment 3: Republican Establishment Will Propose A Ten Year $6,200 Billion Cut In Spending Over Ten Years–The Problem Is It Does Not Balance The Budget For Another Five Years At The Earliest–Tea Party Movement Demands Balanced Budgets Starting In 2012 For The Next Ten Years!–A Jet Plane To Prosperity Not A Path To Prosperity–Videos
Segment 4: Just One More Thing Congressman Ryan: When Does The Republican’s Path To Prosperity Balance The Budget?–The Twelth of Never!–Videos
For additional information and videos on the above segments:
Pronk Pops Show 21
Pronk Pops Show 21, March 29, 2010
Segment 1: The Truth And Consequences About Undeclared Wars–Real Strange Bedfellows–Obama Allies U.S. with Libyan Rebels Including Islamic Jihadists, Moslem Brotherhood, and Al-Qaeda!–Give Peace A Chance–AC-130 Gunship–A-10 Warthogs–F-15E Strike Eagles and Special Operation Smash Squads
For Additional Information and Videos:
Pronk Pops Show 20
Pronk Pops Show 20: March 22, 2011
Segment 1:F-15 Crashes In Libya
Segment 2
ne Unconstitutional and Undeclared War Too Many: The Great Pretender, Peace Candidate And Noble Peace Prize Winner, President Barack Obama Undeclared War On Libya’s Muammar Ghaddafi In Defense Of Libyian Islamic Fighting Group (LIFG) Rebels Linked To al-Qaeda and The BP Libyian Oil Deal Linked To Obama Campaign Contributions–A Political Payoff!–Obama Has To Go In 2012–Videos
Segment 3:Earthquake Damages Japanese Nuclear Plant At Fukushima Daiichi, Four Explosions and Four Nuclear Reactors Flooded With Seawater To Contain Release Of Radioactive Material and Plant Released Radioactive Materials To Stop Pressure Buildup–Partial Meltdown Of Nuclear Core Feared–Radioactive Material Escaping From Plant–Over 250,000 Ordered Evacuated From 20 Kilometer (12.4 Miles) Radius From Plant–Videos
For Additional Information and Videos:
Pronk Pops Show 19
Pronk Pops Show 19: March 8, 2011
Segment 1: The Washington Political Elites of Both Parties Are Not Serious About Balancing The Federal Budget And Funding Entitlement Liabilities–Send In The Clowns–Don’t Bother There Here–Videos
Segment 2, Gallup–U.S. Unemployment Hits 10.3% In February 2011 Vs. Bureau of Labor Statistics (BLS) U.S. Unemployment Rate Declined By .1% To 8.9% in February 2011 With Job Creation of 192,000 In February 2011–Over 13.7 Million Americans Unemployed More Than Worse Month of Great Depression!
For more information and videos related to this show click on links below:
Pronk Pops Show 18
Pronk Pops Show 18: March 3, 2011
Segment 1: Remembering The Brooklyn Dodgers and Duke Snider
Segment 2: The National Debt Will Hit $20,000,000,000,000 By 2020!
Segment 3 Public Sector Unions vs. The America People: Replacing The American Dream With The Socialist Union Nightmare
For additional information and videos on the above segments:
Pronk Pop Show 17
Pronk Pops Show 17: February 22, 2011
Black History Month–Progressives–Eugenics–Black Population Control–Abortion–Black Genocide–Planned Parenthood–Barack Obama
For more information and videos relating to the show:
Pronk Pops Show 16
Pronk Pops Show 16: February 15, 2011
Conservative Political Action Conference 2011
President Obama’s Saint Valentine’s Massacre of The American People–Fiscal Year 2012 Budget Buster–Spending $3,729 Billion–Taxes $2,627 Billion–Deficit $1,101 Billion–Dead On Arrival–DOA– 3 Million Tea Party Patriots To March On Washington D.C. On Friday, April 15, 2011 In Protest!
For more information and videos related to this show click on link below:
Pronk Pops Show 15: Hour 3
Pronk Pops Show 15:February 8,2011, Hour 3
Lies, Damn Lies, Statistics, and Obama’s Unbelievable Unemployment Numbers
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Pronk Pops Show 15: Hour 2
Pronk Pops Show 15: February 8, 2011 Hour 2
Rolling Power Outages in Texas
Obama Care Declared Unconstitutional and Void By Federal Judge
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Pronk Pops Show 15: Hour 1
Pronk Pops Show 15: February 8,2011, Hour 1
Super Storm and Super Bowl In Dallas, Texas
Man-Made Carbon Dioxide Emission and Global Warming–Science vs. Politics
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Pronk Pops Show 14
Pronk Pops Show 14: January 27, 2011
The Big Lie and Free Speech
President Obama’s State of the Union Campaign Speech
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Pronk Pops Show 13
Pronk Pops Show 13: December 9, 2010
Latest News Update on WikiLeaks
Federal Reserve Unconventional Monetary Policy
President Obama and Republicans Agree To Two Year Tax Rate Extension and
One Year Unemployment Benefit Extension–More Deficit Spending and Debt!
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Pronk Pops Show 12
Pronk Pops Show 12: December 8, 2010
News Update On WikiLeaks and Julian Assange
The Chairman of The Federal Reserve and Quantitative Easing 2
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Pronk Pops Show 11
Pronk Pops Show 11: December 3, 2010
News and Commentary On November 2010 Unemployment Rate and Level Statistics
WikiLeaks
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Pronk Pops Show 10
Pronk Pops Show 10: December 1, 2010
Update on new TSA Airport Screening Procedures
Portland, Oregon Terrorist Bomber Arrested by F.B.I.
WikiLeaks Posts Department of State Cables
For more information and videos related to this show click on link below:
http://pronkpops.wordpress.com/2010/11/24/pronk-pops-show-10-november-24-2010-food-prices-rising-fairtax-updates-on-tsa-and-quantitative-easing-money-printing-videos/
Pronk Pops Show 9
Pronk Pops Show 9: November 19, 2010
Federal Reserve Chairman Bernanke Responds To Critics of Monetary Policy
Transportation Security Administration or TSA New Screening Procedures:
Full Body Scanners and Extended Pat-Downs
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Pronk Pops Commentary 1
Pronk Pops Commentary 1: November 11, 2010
Stop Federal Reserve Quantitative Easing or Money Printing
Pronk Pops Show 8
Pronk Pops Show 8: November 10, 2010
Tea Party Major Issues: Jobs, Spending, Deficits, Debt, Taxes, Health Care and Illegal Immigration
Tea Party Stars: Senators: Rand Paul and Marco Rubio
Republican Tea Party Test: Cutting Federal Spending By Over $1,000 Billion To Balance The Budget For Fiscal Years 2011, 2012, and 2013.
For more information and videos related to this show click on link below:
Pronk Pops Show 7
Pronk Pops Show 7: November 9, 2010
Unemployment News
Tea Party Effect On 2010 Elections
Key Issues: Federal Budget Deficits and National Debt
Cutting Federal Government Spending and Balancing The Federal Budget
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Pronk Pops Show 6
Pronk Pops Show 6: November 3, 2010
Winning Elections With MOMMA (Money, Organization, Message, Momentum, Ambition) and The Tea Party Movement Effect
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Pronk Pops Show 5
Pronk Pops Show 5: October 27, 2010
Democratic Party’s National Attack Ad Campaign on Candidates and the Flat Tax
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Pronk Pops Show 4
Pronk Pops Show 4: October 20, 2010
Money, Quantitative Easing and Inflation in the United States Economy
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Pronk Pops Show 3
Pronk Pops Show 3: October 14, 2010
Unemployment and inflation in the United States economy
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Pronk Pops Show 2
Pronk Pops Show 2: October 13, 2010
The 10:10 carbon emission ad campaign on climate change
http://www.youtube.com/watch?v=wliC2Eiwoyw
Secretary of State Hillary Clinton replacing Vice President Joseph Biden on the 2010 Democratic Party ticket
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Pronk Pops Show 1
Pronk Pops Show 1: September 29, 2010
University of Texas at Austin shooting/suicide
The Tea Party Movement in the United States
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Raymond Thomas Pronk’s Podcasts
Pronk Pops Show 38:July 27, 2011
Pronk Pops Show 37:July 20, 2011
Pronk Pops Show 36:July 13, 2011
Pronk Pops Show 35:July 6, 2011
Listen To Pronk Pops Podcast or Download Shows 38-
Listen To Pronk Pops Podcast or Download Shows 34-37
Listen To Pronk Pops Podcast or Download Shows 30-33
Listen To Pronk Pops Podcast or Download Shows 27-29
Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26
Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)
Listen To Pronk Pops Podcast or Download Shows 10-15
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The Tea Party’s Compromise Offer Of A $2 Hike In The National Debt Ceiling For Every $1 Cut In Fiscal Year 2012 Budget Spending Outlays–$2,400 Billion Hike In National Debt Ceiling For $1,200 Billion Cut In Fiscal Year 2012 Budget –The Great Deal–A Balanced Budget!–Videos
The Tea Party movement Representatives, Senators and supporters in the spirit of compromise, a balanced approach and fiscal responsibility offers both the Democratic and Republican Party establishments and their leadership a Great Deal that the American people fully support–A Balanced Budget!
The Tea Party movement will agree to a $2,400 billion immediate increase in the National Debt ceiling in exchange for balancing the Fiscal Year 2012 budget by an immediate decrease in estimated spending outlays of $1,200 billion which will balance the Fiscal Year 2012 with estimated tax revenues of about $2,500 billion.
Do the right thing for your children, grandchildren and future generations by announcing your acceptance of The Great Deal today.
This would restore consumer and business confidence, grow the economy and dramatically reduce the unemployment rates.
This may even get you re-elected in November 2012!
Ron Paul on Debt limit and Boehner’s bill
Ron Paul on Freedom Watch: We Are Defaulting Either Way
Ron Paul on FED Manipulation of US Dollar & Debt Ceiling
7-28-11 – Sen. Rand Paul on Fox News with Greta Van Susteran – 07-27-11
Rand Paul Blasts Reid, Boehner Plans [FOX 7-27-2011]
Dan Mitchell Explaining the Debt Limit Fight for Bloomberg Asia
Underwhelming Spending Cuts from Congress and Obama
Cut, Cap and Balance,” the Debt Ceiling and Federal Spending
Rush Limbaugh – Ok Here Is The History Of The Base Line Budget
Debt Ceiling Crisis: Boehner vs. Tea Party
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
Ron Paul to Congress: If Debt Is the Problem, Why Do You Want More of It?
House GOP’s $61 Billion Spending Cuts in Perspective
Smoke and Mirrors on Spending Cuts
It’s Simple to Balance The Budget Without Higher Taxes
Neither the Republican Party nor Democratic Party Fiscal Year 2012 budget proposals are the road to peace and prosperity but a Tea Party budget with balanced budgets most definitely is:
Which Budgets Are Balanced And Living Within The Means of The American People?
4/5/11 Republican Leadership Press Conference
Democratic Party Budget Proposals
|
S-1 FY2012 President’s Budget (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,819 | 2,174 | -1,645 | 10,856 |
| 2012 | 3,729 | 2,627 | -1,101 | 11,881 |
| 2013 | 3,771 | 3,003 | -768 | 12,784 |
| 2014 | 3,977 | 3,333 | -646 | 13,562 |
| 2015 | 4,190 | 3,583 | -607 | 14,301 |
| 2016 | 4,468 | 3,819 | -649 | 15,064 |
| 2017 | 4,669 | 4,042 | -627 | 15,795 |
| 2018 | 4,876 | 4,257 | -619 | 16,513 |
| 2019 | 5,154 | 4,473 | -681 | 17,284 |
| 2020 | 5,442 | 4,686 | -735 | 18,103 |
| 2021 | 5,697 | 4,923 | -774 | 18,967 |
| 2012-2021 | 45,952 | 38,747 | -7,205 | n.a. |
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf
Republican Party Budget Proposals
|
S-1 FY2012 Chairman’s Markup (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,618 | 2,230 | -1,388 | 10,351 |
| 2012 | 3,529 | 2,533 | -995 | 11,418 |
| 2013 | 3,559 | 2,860 | -699 | 12,217 |
| 2014 | 3,586 | 3,094 | -492 | 12,801 |
| 2015 | 3,671 | 3,237 | -434 | 13,326 |
| 2016 | 3,858 | 3,377 | -481 | 13,886 |
| 2017 | 3,998 | 3,589 | -408 | 14,363 |
| 2018 | 4,123 | 3,745 | -379 | 14,800 |
| 2019 | 4,352 | 3,939 | -414 | 15,254 |
| 2020 | 4,544 | 4,142 | -402 | 15,681 |
| 2021 | 4,739 | 4,354 | -385 | 16,071 |
| 2012-2021 | 39,958 | 34,870 | -5,088 | n.a. |
http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf
Sen. Toomey Unveils his FY 2012 Budget
Senator Pat Toomey Talks with Michael Medved about his Budget
| S-1 FY2012 Senator Pat Toomey(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurplus | Debt Held By Public |
| 2011 | 3,625 | 2,230 | -1,351 | 10,351 |
| 2012 | 3,477 | 2,538 | -919 | 11,418 |
| 2013 | 3,485 | 2,964 | -521 | 12,217 |
| 2014 | 3,509 | 3,216 | -291 | 12,801 |
| 2015 | 3,623 | 3,391 | -233 | 13,326 |
| 2016 | 3,765 | 3,524 | -241 | 13,886 |
| 2017 | 3,853 | 3,736 | -117 | 14,363 |
| 2018 | 3,955 | 3,916 | -39 | 14,800 |
| 2019 | 4,140 | 4,108 | -32 | 15,254 |
| 2020 | 4,302 | 4,325 | 23 | 15,681 |
| 2021 | 4,493 | 4,566 | 73 | 16,071 |
| 2012-2021 | 38,602 | 36,304 | -2298 | n.a. |
http://www.scribd.com/doc/55116239/Restoring-Balance-Final
SA@TAC – The GOP, War and the Debt
3/09/11: Sen. Rand Paul on balancing the budget
03/17/11: Sen. Rand Paul Introduces Five-Year Balanced Budget Plan
| S-1 FY2012 Senator Rand Paul(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurpluses | Debt Held By Public |
| 2011 | 3,708 | 2,228 | -1,480 | 10,430 |
| 2012 | 3,100 | 2,547 | -553 | 11,051 |
| 2013 | 3,152 | 2,755 | -397 | 11,532 |
| 2014 | 3,227 | 3,088 | -139 | 11,748 |
| 2015 | 3,360 | 3,244 | -116 | 11,942 |
| 2016 | 3,430 | 3,349 | 19 | 11,997 |
| 2012-2016 | 16,269 | 15,083 | -1,188 | n.a. |
http://campaignforliberty.com/materials/RandBudget.pdf
Tea Party Budget Proposals
| S-1 FY2012 Tea Party’s Balanced/Surplus Budget(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | Surpluses | Debt Held By Public |
| 2012 | 2,500 | 2,500 | 0 | 10,900 |
| 2013 | 2,800 | 2,800 | 0 | 10,900 |
| 2014 | 3,000 | 3,000 | 0 | 10,900 |
| 2015 | 3,200 | 3,200 | 0 | 10,900 |
| 2016 | 3,300 | 3,300 | 0 | 10,900 |
| 2017 | 3,400 | 3,500 | 100 | 10,800 |
| 2018 | 3,500 | 3,700 | 200 | 10,600 |
| 2019 | 3,600 | 3,900 | 300 | 10,300 |
| 2020 | 3,700 | 4,000 | 300 | 10,000 |
| 2021 | 3,800 | 4,300 | 500 | 9,500 |
| 2012-2021 | 32,800 | 34,200 | 1,400 | n.a. |
Baseline (budgeting)
“…Baseline budgeting is a method of developing a budget which uses existing spending levels as the basis for establishing future funding requirements. The concept assumes that the organization is generally headed in the right direction and only minor changes in spending levels will be required. The baseline is normally enhanced by adding adjustment factors based on issues such as inflation, new programs, and anticipated changes to existing programs.
The genesis of baseline budget projections can be found in the Congressional Budget Act of 1974. That act required the Office of Management and Budget (OMB) to prepare projections of federal spending for the upcoming fiscal year based on a continuation of the existing level of governmental services. It also required the newly established Congressional Budget Office to prepare five-year projections of budget authority, outlays, revenues, and the surplus or deficit. OMB published its initial current-services budget projections in November 1974, and CBO’s five-year projections first appeared in January 1976. Today’s baseline budget projections are very much like those prepared more than two decades ago, although they now span 10 years instead of five.
The Budget Act was silent on whether to adjust estimates of discretionary appropriations for anticipated changes in inflation. Until 1980, OMB’s projections excluded inflation adjustments for discretionary programs. CBO’s projections, however, assumed that appropriations would keep pace with inflation, although CBO has also published projections without these so-called discretionary inflation adjustments.
CBO’s budget projections took on added importance in 1980 and 1981, when they served as the baseline for computing spending reductions to be achieved in the budget reconciliation process. The reconciliation instructions contained in the fiscal year 1982 budget resolution (the so-called Gramm-Latta budget) required House and Senate committees to reduce outlays by a total of $36 billion below baseline levels, but each committee could determine how those savings were to be achieved. The CBO baseline has been used in every year since 1981 for developing budget resolutions and measuring compliance with reconciliation instructions.
The Deficit Control Act of 1985 provided the first legal definition of baseline. For the most part, the act defined the baseline in conformity with previous usage. If appropriations had not been enacted for the upcoming fiscal year, the baseline was to assume the previous year’s level without any adjustment for inflation. In 1987, however, the Congress amended the definition of the baseline so that discretionary appropriations would be adjusted to keep pace with inflation. Other technical changes to the definition of the baseline were enacted in 1990, 1993, and 1997.
Baseline budget projections increasingly became the subject of political debate and controversy during the late 1980s and early 1990s, and more recently during the 2011 debt limit debate. Some critics contend that baseline projections create a bias in favor of spending by assuming that federal spending keeps pace with inflation and other factors driving the growth of entitlement programs. Changes that merely slow the growth of federal spending programs have often been described as cuts in spending, when in reality they are actually reductions in the rate of spending growth.
There have been attempts to eliminate the baseline budget concept and replace it with zero based budgeting, which is the opposite of baseline budgeting. Zero based budgeting requires that all spending must be re-justified each year or it will be eliminated from the budget regardless of previous spending levels.
According to the Government Accountability Office, a Baseline is as follows:
Baseline
“An estimate of spending, revenue, the deficit or surplus, and the public debt expected during a fiscal year under current laws and current policy. The baseline is a benchmark for measuring the budgetary effects of proposed changes in revenues and spending. It assumes that receipts and mandatory spending will continue or expire in the future as required by law and that the future funding for discretionary programs will equal the most recently enacted appropriation, adjusted for inflation. Under the Budget Enforcement Act (BEA), which will expire at the end of fiscal year 2006, the baseline is defined as the projection of current-year levels of new budget authority, outlays, revenues, and the surplus or deficit into the budget year and outyears based on laws enacted through the applicable date.
CBO Baseline
Projected levels of governmental receipts (revenues), budget authority, and outlays for the budget year and subsequent fiscal years, assuming generally that current policies remain the same, except as directed by law. The baseline is described in the Congressional Budget Office’s (CBO) annual report for the House and Senate Budget Committees, The Budget and Economic Outlook, which is published in January. The baseline, by law, includes projections for 5 years, but at the request of the Budget Committees, CBO has provided such projections for 10 years. In most years the CBO baseline is revised in conjunction with CBO’s analysis of the President’s budget, which is usually issued in March, and again during the summer. The “March” baseline is the benchmark for measuring the budgetary effects of proposed legislation under consideration by Congress.” …”
External links
- Congressional Budget Act
- Office of Management and Budget
- Government Accountability Office
- House Budget Committee (Republican Site)
- House Budget Committee (Democratic Site)
- Senate Budget Committee (Republican Site)
- Senate Budget Committee (Democratic Site)
http://en.wikipedia.org/wiki/Baseline_(budgeting)
Background Articles and Video
Sen. Toomey Gives a Speech on the Debt Limit at AEI
Smoke and Mirrors on Spending Cuts
Ron Paul on the U.S. Government’s Debt Crisis
The Debt Limit: Made Simple
Ron Paul 2012 Amazing!!!
Rasmussen Reports
Most Voters Are Unhappy With Both Sides in the Debt Ceiling Debate
“…Most voters don’t care much for the way either political party is performing in the federal debt ceiling debate.
The latest Rasmussen Reports national telephone survey finds that 58% of Likely U.S. Voters at least somewhat disapprove of the way President Obama and congressional Democrats are handling the debate over the debt ceiling, with 38% who Strongly Disapprove. But 53% also disapprove of how congressional Republicans are handling the debate, including 32% who Strongly Disapprove.
Just 36% approve of how Obama and Democrats are doing, with 10% who Strongly Approve. Forty percent (40%) approve of the GOP’s performance, including 13% who Strongly Approve. (To see survey question wording, click here.)
While the two sides continue to wrangle over how to avoid defaulting on the government’s massive debt load, most voters nationwide are worried the final deal will raise taxes too much and cut spending too little.
Whatever spending cuts are in the final deal, 49% of all voters don’t think the government will actually cut the spending agreed upon. A commentary by Scott Rasmussen, published in Politico, put it this way: “Based on the history of the past few decades, voters have learned that politicians promising unspecified spending cuts should be treated with all the credibility of a six-year old boy caught with his hand in the cookie jar promising to be good for the rest of his life.” …”
Rasmussen Reports
55% Oppose Tax Hike In Debt Ceiling Deal
“…As the Beltway politicians try to figure out how they will raise the debt ceiling and for how long, most voters oppose including tax hikes in the deal.
Just 34% think a tax hike should be included in any legislation to raise the debt ceiling. A new Rasmussen Reports national telephone survey finds that 55% disagree and say it should not. …”
“…There is a huge partisan divide on the question. Fifty-eight percent (58%) of Democrats want a tax hike in the deal while 82% of Republicans do not. Among those not affiliated with either major political party, 35% favor a tax hike and 51% are opposed.
Americans who earn more than $75,000 a year are evenly divided as to whether a tax hike should be included in the debt ceiling deal. Those who earn less are opposed to including tax hikes.
Voters remain very concerned about the debt ceiling issue. Sixty-nine percent (69%) believe that it would be bad for the economy if a failure to raise the debt ceiling led to government defaults. Only 6% believe it would be good for theeconomy. Fourteen percent (14%) believe it would have no impact and 11% are notsure. These figures are little changed from a few weeks ago. …”
House passes Ryan’s ’12 budget; conservatives want more cuts
“…The House on Friday approved a fiscal year 2012 budget resolution from Budget Committee Chairman Paul Ryan (R-Wis.) that seeks to drastically limit government spending next year and in years to follow.
But the vote on the measure — which imposes $5.8 trillion in spending cuts over the next decade — came after a clear sign that at least half of the Republican Caucus supports even tougher spending cuts.
The final tally was 235-193, with four Republicans opposing it. They were Reps. Ron Paul (Texas), Denny Rehberg (Mont.), Walter Jones (N.C.) and David McKinley (W.Va.).
Rehberg, the appropriator in charge of health spending, is running for Montana’s Senate seat.
Majority Whip Kevin McCarthy (R-Calif.) said listening sessions with Republican members made it the strongest vote of the year.
“This is the process we should follow on all votes,” he said.
Every Democrat voted “no.” …”
House passes cut, cap and balance — and a deal is in sight
By Jennifer Rubin
“…The Republican-controlled House defied a presidential veto threat Tuesday night in approving a bill to amend the Constitution to require a balanced federal budget. But Speaker John A. Boehner acknowledged that a backup plan is needed, and a Senate GOP leader said he expects such an alternative to win his chamber’s approval.
Read Full Post | Make a Comment ( None so far )The House voted 234 to 190 in favor of the “Cut, Cap and Balance Act,” which the White House has said will be vetoed in the unlikely event it passes the Senate and reaches President Obama’s desk. Faced with those prospects, Boehner told reporters that it would also be responsible to consider a backup plan for raising the federal debt ceiling and thus averting a potentially disastrous default on U.S. obligations.
Obama’s Gungate: Update On Operation Fast and Furious–Videos
Fast, Furious & Fouled Up
Agent’s family prepares to sue as ATF admits mistakes
ATF Denies Gunwalking
ATF Agent Shared Fast & Furious Info with White House
Rep. Issa on AG Holder’s claim he had no prior knowledge of Operation Fast and Furious
Related Posts On Pronk Palisades
Obama’s Gungate: Operation Fast and Furious–Arming Mexican Drug Cartels and Criminals–Killing American and Mexican Citizens–A Pretext For The Ultimate Aim of Disarming The American People and Repealing the Second Amendment–Department of Justice, Department of Homeland Security, FBI, BATFE, ICE and DEA Coverup and Stonewalling–Call For Special Prosecutor–President Obama and Attorney General Holder Should Be Impeached For Obstruction of Justice–Videos–Updated
Read Full Post | Make a Comment ( None so far )Tea Party Democrats, Republicans, and Independents Betrayed–Tell The Democratic and Republican Establishments To Balance The Budget and Cut The Debt Ceiling–Just Say No To Obama, Reid, Boehner and Ryan Unbalanced Budgets–Videos
Lying Politicians And Words
“By and large, language is a tool for concealing the truth.”
~George Carlin
“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.”
~Abraham Lincoln
Freedom is the Only Solution
Ron Paul on Debt limit and Boehner’s bill
Ron Paul on Freedom Watch: We Are Defaulting Either Way
7-28-11 – Sen. Rand Paul on Fox News with Greta Van Susteran – 07-27-11
Rand Paul Blasts Reid, Boehner Plans [FOX 7-27-2011]
Ron Paul on Freedom Watch 07/27/11
Ron Paul to Congress: If Debt Is the Problem, Why Do You Want More of It?
The Laura Ingraham Show – Speaker John Boehner answers tea party criticism
Office of the Majority Whip | Balanced Budget Amendment Video
Debt Ceiling Crisis: Boehner vs. Tea Party
SA@TAC – Ron Paul’s Pledge to America
Smoke and Mirrors on Spending Cuts
House GOP’s $61 Billion Spending Cuts in Perspective
John Boehner Goes Back On The Head Of The Republican Parties Radio Show Rush Limbaugh
McCain to Republicans: Pushing Balanced Budget Amendment is “Bizarro”
FOX: DeMint Slams Reid & Boehner Plans
Mark Levin Interviews Jim Demint – I’m Not Encouraged By Whats Going On In Washington Right Now
Ron Paul Ad – Conviction
The tea party movement has been betrayed by the Republican Party establishment leadership including John Boehner, Eric Cantor, Mitch McConnell and Paul Ryan.
The big dirty secret the ruling class in Washington D.C. do not want the American people to know is the Fiscal Year 2012 budget will be in deficit by about $1,000 billion.
The Boehner bill will add over $7,000 billion in additional debt over the next ten years and would not balance in any of the next ten years!
This is not fiscally responsible nor is it a “balanced approach”.
This is business as usual and a betrayal of the American people and the conservative, libertarian and tea party movements.
The Democratic and Republican Establishments aka the “ruling class” are addicted to spending money the American people do not have on things the American people do not need.
The Democratic and Republican Establishments try to fool the American people with phony cuts in the growth of the current services baseline budget by emphasizing trillion-dollar ”cuts” over a ten-year budget timeframe.
There are never any cuts in the current service baseline budget only cuts in the growth rates over ten years of the budget baseline.
Underwhelming Spending Cuts from Congress and Obama
“Cut, Cap and Balance,” the Debt Ceiling and Federal Spending
The American people are not fooled by this nonsense and rubbish.
The only year that counts is Fiscal Year 2012 that starts October 1, 2011 and ends September 30, 2012.
The only cuts that are real are actual cuts in the budget baseline itself and not cuts in the rate of growth of that baseline.
Dan Mitchell Exposing DC’s Fake Spending-Cut Scam with Judge Napolitano
It’s Simple to Balance The Budget Without Higher Taxes
Ron Paul to Congress: Freeze Big Government!
Ron Paul knew everything
Stop budgeting to the current services budget baseline and budget to estimated tax revenue collections.
Stop closed-door deals, commissions, select committees and gangs.
Stop lying and misleading the American people.
Vote against any budget that is not balanced.
Vote against any increase in the National Debt ceiling.
Vote for closing permanently Government Departments, agencies and hundreds of programs.
Vote for cutting the Budget Baseline not for cutting the rate of growth of the Budget Baseline!
Vote for the FairTax.
The political ruling class is bought and paid for and are wrecking the economy, destroying jobs and killing the American Dream.
The American people will eventually learn the secret and that both political parties have been lying to them.
A plague on both political parties.
Both political parties are responsible for the bloated budgets and massive deficits.
Let the party establishments clean their own mess up.
The Democratic and Republican Party establishments simply do not give a flip about the American people.
The conservative, libertarian and tea party movements will need to challenge Republican office holders in the primaries and the Democrats in the general election.
Suggest you listen to the late George Carlin.
George Carlin -”Who Really Controls America”
“Inside every cynical person, there is a disappointed idealist.”
“Always do whatever’s next.”
~George Carlin
Background Articles and Videos
Neither the Republican Party nor Democratic Party Fiscal Year 2012 budget proposals are the road to peace and prosperity but a Tea Party budget with balanced budgets most definitely is:
Which Budgets Are Balanced And Living Within The Means of The American People?
4/5/11 Republican Leadership Press Conference
O’Reilly — Does Obama Care About the Economy?
Democrats’ Budget Plan – “Blank Check”
Democratic Party Budget Proposals
|
S-1 FY2012 President’s Budget (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,819 | 2,174 | -1,645 | 10,856 |
| 2012 | 3,729 | 2,627 | -1,101 | 11,881 |
| 2013 | 3,771 | 3,003 | -768 | 12,784 |
| 2014 | 3,977 | 3,333 | -646 | 13,562 |
| 2015 | 4,190 | 3,583 | -607 | 14,301 |
| 2016 | 4,468 | 3,819 | -649 | 15,064 |
| 2017 | 4,669 | 4,042 | -627 | 15,795 |
| 2018 | 4,876 | 4,257 | -619 | 16,513 |
| 2019 | 5,154 | 4,473 | -681 | 17,284 |
| 2020 | 5,442 | 4,686 | -735 | 18,103 |
| 2021 | 5,697 | 4,923 | -774 | 18,967 |
| 2012-2021 | 45,952 | 38,747 | -7,205 | n.a. |
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf
Republican Party Budget Proposals
|
S-1 FY2012 Chairman’s Markup (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,618 | 2,230 | -1,388 | 10,351 |
| 2012 | 3,529 | 2,533 | -995 | 11,418 |
| 2013 | 3,559 | 2,860 | -699 | 12,217 |
| 2014 | 3,586 | 3,094 | -492 | 12,801 |
| 2015 | 3,671 | 3,237 | -434 | 13,326 |
| 2016 | 3,858 | 3,377 | -481 | 13,886 |
| 2017 | 3,998 | 3,589 | -408 | 14,363 |
| 2018 | 4,123 | 3,745 | -379 | 14,800 |
| 2019 | 4,352 | 3,939 | -414 | 15,254 |
| 2020 | 4,544 | 4,142 | -402 | 15,681 |
| 2021 | 4,739 | 4,354 | -385 | 16,071 |
| 2012-2021 | 39,958 | 34,870 | -5,088 | n.a. |
http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf
Sen. Toomey Unveils his FY 2012 Budget
Senator Pat Toomey Talks with Michael Medved about his Budget
| S-1 FY2012 Senator Pat Toomey(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurplus | Debt Held By Public |
| 2011 | 3,625 | 2,230 | -1,351 | 10,351 |
| 2012 | 3,477 | 2,538 | -919 | 11,418 |
| 2013 | 3,485 | 2,964 | -521 | 12,217 |
| 2014 | 3,509 | 3,216 | -291 | 12,801 |
| 2015 | 3,623 | 3,391 | -233 | 13,326 |
| 2016 | 3,765 | 3,524 | -241 | 13,886 |
| 2017 | 3,853 | 3,736 | -117 | 14,363 |
| 2018 | 3,955 | 3,916 | -39 | 14,800 |
| 2019 | 4,140 | 4,108 | -32 | 15,254 |
| 2020 | 4,302 | 4,325 | 23 | 15,681 |
| 2021 | 4,493 | 4,566 | 73 | 16,071 |
| 2012-2021 | 38,602 | 36,304 | -2298 | n.a. |
http://www.scribd.com/doc/55116239/Restoring-Balance-Final
SA@TAC – The GOP, War and the Debt
3/09/11: Sen. Rand Paul on balancing the budget
03/17/11: Sen. Rand Paul Introduces Five-Year Balanced Budget Plan
| S-1 FY2012 Senator Rand Paul(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurpluses | Debt Held By Public |
| 2011 | 3,708 | 2,228 | -1,480 | 10,430 |
| 2012 | 3,100 | 2,547 | -553 | 11,051 |
| 2013 | 3,152 | 2,755 | -397 | 11,532 |
| 2014 | 3,227 | 3,088 | -139 | 11,748 |
| 2015 | 3,360 | 3,244 | -116 | 11,942 |
| 2016 | 3,430 | 3,349 | 19 | 11,997 |
| 2012-2016 | 16,269 | 15,083 | -1,188 | n.a. |
http://campaignforliberty.com/materials/RandBudget.pdf
Tea Party Budget Proposals
| S-1 FY2012 Tea Party’s Balanced/Surplus Budget(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | Surpluses | Debt Held By Public |
| 2012 | 2,500 | 2,500 | 0 | 10,900 |
| 2013 | 2,800 | 2,800 | 0 | 10,900 |
| 2014 | 3,000 | 3,000 | 0 | 10,900 |
| 2015 | 3,200 | 3,200 | 0 | 10,900 |
| 2016 | 3,300 | 3,300 | 0 | 10,900 |
| 2017 | 3,400 | 3,500 | 100 | 10,800 |
| 2018 | 3,500 | 3,700 | 200 | 10,600 |
| 2019 | 3,600 | 3,900 | 300 | 10,300 |
| 2020 | 3,700 | 4,000 | 300 | 10,000 |
| 2021 | 3,800 | 4,300 | 500 | 9,500 |
| 2012-2021 | 32,800 | 34,200 | 1,400 | n.a. |
Peter Ferrara’s Too-Nice Attack on Phony Washington Budget Deals
Posted by Daniel J. Mitchell
“…Writing in the Wall Street Journal, Peter Ferrara of the Institute for Policy Innovation explains that Washington budget deals don’t work because politicians never follow through on promised spending cuts. This is a very relevant argument, since President Obama’s so-called Deficit Reduction Commission supposedly is considering a deal featuring $3 of spending cuts for every $1 of tax increases (disturbingly reminiscent of what was promised — but never delivered — as part of the infamous 1982 TEFRA budget scam).
Washington’s traditional approach to balancing the budget is to negotiate an agreement on a package of benefit cuts and tax increases. President Obama’s deficit commission seems likely to recommend just this strategy in December. The problem is that it never works. What happens is the tax increases get permanently adopted into law. But the spending cuts are almost never fully adopted and, even if they are, they are soon swept away in the next spendthrift budget. Then — because taxes weaken incentives to produce — the tax increases don’t raise the revenue that Congress initially projected and budgeted to spend. So the deficit reappears.
In 1982, congressional Democrats promised President Ronald Reagan $3 in spending cuts for every dollar in tax increases. Reagan went to his grave waiting for those spending cuts. Then there was the budget deal in 1990, when President George H.W. Bush agreed to violate his famous campaign pledge — “Read my lips, no new taxes,” he had said in 1988 — in pursuit of a balanced budget. But after the deal, the deficit increased substantially: to $290 billion in 1992 from $221 billion in 1990.
As the excerpt indicates, Peter’s column is solid and everything he writes is correct, but it suffers from one major sin of omission. He should have exposed the dishonest practice of using “current services” or “baseline” budgeting. This is the clever Washington practice of assuming that all previously planned spending increases should go into effect and categorizing any budget that increases spending by a lower amount as a spending cut. In other words, if the hypothetical “baseline” budget increases by 7 percent, and a budget is proposed that increases spending by 4 percent, that 4 percent spending increase magically gets transformed into a 3 percent spending cut.
Politicians love “current services” or “baseline” budgeting for two reasons. First, it allows them to have their cake and eat it too. They can simultaneously shovel more money to interest groups while telling voters they are “cutting” spending. Second, it rigs the process in favor of bigger government. This is because lawmakers who actually propose to restrain the growth of spending can be lambasted for wanting “savage” and “draconian” budget cuts totaling “trillions of dollars” when all they’re actually proposing is to have spending grow by less than the so-called baseline. But since people in the real world use honest math rather than “current services” math, they assume that spending is being reduced next year by some large amount compared to what is being spent this year. And if the phony budget cut numbers sound too big (especially for specific programs such as Medicare or Medicaid), they sometimes conclude that it would be better to raise taxes.
Speaking of which, the same misleading process works on the revenue side of the budget. The politicians automatically get to keep whatever additional revenue is generated by population growth and higher incomes, which is not trivial since revenue in a typical year grows faster than nominal GDP. But when they do a budget deal featuring X dollars of tax increases for every Y dollars of spending cuts, the additional taxes are always on top of the revenue increases that already are occurring. And since the supposed spending cuts invariably are nothing more than reductions in planned increases, it should come as no surprise that the burden of spending always seems to increase. …”
http://www.cato-at-liberty.org/peter-ferraras-too-nice-attack-on-phony-washington-budget-deals/
Tim Russert Interviews George Carlin
George Carlin interview (1996) – Late Show with Tom Snyder, part 1
George Carlin interview (1996) – Late Show with Tom Snyder, part 2
George Carlin interview (1996) – Late Show with Tom Snyder, part 3
George Carlin On His Time In The Military
Related Posts On Pronk Palisades
The President Obama Exposed As An Empty Suit That Negotiates In Bad Faith With No Democratic Party or Presidential Plan–All Talk and No Walk–Videos
The Pronk Plan for A Peace and Prosperity Economy–Videos
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Pronk Pops Show 37, July 20, 2011–Segment 0: President Obama Lies and Scares People On Social Security–Stop Spending and Balance The Budget!–Videos
Pronk Pops Show 37, July 20, 2011: Segment 1: The American People’s Solution To Economic Stagnation: Increase National Debt Ceiling By $2,000 Billion To $16,300 Billion In Exchange For Passage of A Balanced Budget Amendment And The FairTax Bills And Repealing The Income Tax 16th Amendment To U.S. Constitution–A Balanced, Fair And Transparent Approach To Creating Jobs and Growing A Peace and Prosperity Economy–Videos
Pronk Pops Show 37, July 20, 2011: Segment 2: It’s Time For A Permanent, Prevasive and Predictable Stimulus Package–The FairTax–Launching A Peace and Prosperity Economy–Videos
Pronk Pops Show 37, July 20, 2011: Segment 3: Senator Tom Coburn’s
Read Full Post | Make a Comment ( None so far )Tea Party Candidates And Elected Officials New Gold Standard For Balanced And Surplus Budgets, Lower Debt Ceilings and Tax Reform: Fiscal Responsibility Pledge To The American People–Videos
American Citizens for Fiscal Responsibility
“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.”
~Thomas Jefferson
Fiscal Responsibility Pledge
I, ________________________________________, pledge to the taxpayers of the state
of ____________________________, and to the American people that I will:
1. Support and vote for only balanced budgets or surplus budgets where total estimated Federal government tax revenues for each fiscal year equals or exceeds total estimated Federal government spending outlays.
2. Support and vote for only decreases in the national debt ceiling.
3. Support and vote for the FairTax. The FairTax abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax on new goods and services, and administered primarily by existing state sales tax authorities. Once enacted any changes in the FairTax or increases in the FairTax rate will require two-thirds roll call vote of the House of Representatives and Senate.
4. Support and vote for the repeal of the 16th Amendment to the Constitution of the United States.
5. Support and vote for a balanced budget Amendment to the Constitution of the United State which allows budget surpluses or requires the balancing of tax revenues and spending outlays each fiscal year, limits Federal Government spending to eight-teen percent (18%) of Gross Domestic Product or less, requires a two-thirds majority roll call vote for any proposed tax increase in the House of Representatives and Senate and where the only exception to a surplus budget or balanced budget is the passage of a declaration of war that would require unbalanced budgets and increases in the national debt.
___________________________________________ ___________________________________
Signature Date Signed
__________________________________________ ___________________________________
Witness Witness
Pledge must be signed, dated, witnessed and returned to the:
American Citizens for Fiscal Responsibility
10455 N. Central Expressway-#109-228
Dallas, Texas 75231
Background Articles and Videos
Dan Mitchell Exposing DC’s Fake Spending-Cut Scam with Judge Napolitano
It’s Simple to Balance The Budget Without Higher Taxes
US bankruptcy, fiscal ‘child abuse’ and six-decade Ponzi scheme
Next Generation To Suffer From Fiscal Gap…Kotlikoff Says!
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
“Cut, Cap and Balance,” the Debt Ceiling and Federal Spending
Underwhelming Spending Cuts from Congress and Obama
Obama/Boehner’s Phony Spending Cuts
House GOP’s $61 Billion Spending Cuts in Perspective
Senator Rand Paul Speaks Out Against the Continuing Resolution
Our Troubling Tax System
What is the FairTax legislation?
Lugar Cosponsors the FairTax
The FairTax: It’s Time
FairTax.org
http://www.fairtax.org/site/PageServer?pagename=about_main
Ron Paul Ad – Conviction
DEBT CEILING | Ron Paul | Debt Crisis
Michele Bachmann: Courage
Raising the Debt Ceiling: It Just Makes Sense. Not.
U.S. Senator Mike Lee Proposes a Constitutional Amendment to Limit Congress’ Spending
America is bankrupt
Laurence Kotlikof
“…THE US has a fiscal gap—the present value of all its future spending (including servicing its official debt) less all its future taxes of $202 trillion—almost 14 times GDP. Greece, by comparison, has a fiscal gap of about 11 times GDP. To close the US fiscal gap would require raising all federal taxes, immediately and permanently by almost two thirds!
The Economist as well as all other financial media as well as virtually all economists (academic and business) and policymakers are focusing on the official debt. For the US, the official debt is $9 trillion. This is minor compared to the fiscal gap, which includes all liabilities, official and unofficial. The fiscal gap is huge compare to the official debt because Uncle Sam has spent six decades accumulating massive obligations to make social insurance payments, which it carefully kept off the books. …”
http://www.economist.com/economics/by-invitation/guest-contributions/america_bankrupt
U.S. funding for future promises lags by trillions
By Dennis Cauchon, USA TODAY
“…The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.
This gap between spending commitments and revenue last year equals more than one-third of the nation’s gross domestic product.
Medicare alone took on $1.8 trillion in new liabilities, more than the record deficit prompting heated debate between Congress and the White House over lifting the debt ceiling.
Social Security added $1.4 trillion in obligations, partly reflecting longer life expectancies. Federal and military retirement programs added more to the financial hole, too.
Corporations would be required to count these new liabilities when they are taken on — and report a big loss to shareholders. Unlike businesses, however, Congress postpones recording spending commitments until it writes a check.
The $61.6 trillion in unfunded obligations amounts to $528,000 per household. That’s more than five times what Americans have borrowed for everything else — mortgages, car loans and other debt. It reflects the challenge as the number of retirees soars over the next 20 years and seniors try to collect on those spending promises.
“The (federal) debt only tells us what the government owes to the public. It doesn’t take into account what’s owed to seniors, veterans and retired employees,” says accountant Sheila Weinberg, founder of the Institute for Truth in Accounting, a Chicago-based group that advocates better financial reporting. “Without accurate accounting, we can’t make good decisions.” …”
http://www.usatoday.com/news/washington/2011-06-06-us-owes-62-trillion-in-debt_n.htm
A SUMMARY OF THE 2011 ANNUAL REPORTS
Social Security and Medicare Boards of Trustees
A MESSAGE TO THE PUBLIC:
Each year the Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs. This message summarizes our 2011 Annual Reports.
The financial conditions of the Social Security and Medicare programs remain challenging. Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative modifications if disruptive consequences for beneficiaries and taxpayers are to be avoided.
The long-run financial challenges facing Social Security and Medicare should be addressed soon. If action is taken sooner rather than later, more options and more time will be available to phase in changes so that those affected have adequate time to prepare. Earlier action will also afford elected officials with a greater opportunity to minimize adverse impacts on vulnerable populations, including lower-income workers and those who are already substantially dependent on program benefits.
Both Social Security and Medicare, the two largest federal programs, face substantial cost growth in the upcoming decades due to factors that include population aging as well as the growth in expenditures per beneficiary. Through the mid-2030s, due to the large baby-boom generation entering retirement and lower-birth-rate generations entering employment, population aging is the largest single factor contributing to cost growth in the two programs. Thereafter, the continued rapid growth in health care cost per beneficiary becomes the larger factor.
Neither the Republican Party nor Democratic Party Fiscal Year 2012 budget proposals are the road to peace and prosperity but a Tea Party budget with balanced budgets most definitely is:
Which Budgets Are Balanced And Living Within The Means of The American People?
4/5/11 Republican Leadership Press Conference
O’Reilly — Does Obama Care About the Economy?
Democrats’ Budget Plan – “Blank Check”
Democratic Party Budget Proposals
|
S-1 FY2012 President’s Budget (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,819 | 2,174 | -1,645 | 10,856 |
| 2012 | 3,729 | 2,627 | -1,101 | 11,881 |
| 2013 | 3,771 | 3,003 | -768 | 12,784 |
| 2014 | 3,977 | 3,333 | -646 | 13,562 |
| 2015 | 4,190 | 3,583 | -607 | 14,301 |
| 2016 | 4,468 | 3,819 | -649 | 15,064 |
| 2017 | 4,669 | 4,042 | -627 | 15,795 |
| 2018 | 4,876 | 4,257 | -619 | 16,513 |
| 2019 | 5,154 | 4,473 | -681 | 17,284 |
| 2020 | 5,442 | 4,686 | -735 | 18,103 |
| 2021 | 5,697 | 4,923 | -774 | 18,967 |
| 2012-2021 | 45,952 | 38,747 | -7,205 | n.a. |
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf
Republican Party Budget Proposals
|
S-1 FY2012 Chairman’s Markup (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,618 | 2,230 | -1,388 | 10,351 |
| 2012 | 3,529 | 2,533 | -995 | 11,418 |
| 2013 | 3,559 | 2,860 | -699 | 12,217 |
| 2014 | 3,586 | 3,094 | -492 | 12,801 |
| 2015 | 3,671 | 3,237 | -434 | 13,326 |
| 2016 | 3,858 | 3,377 | -481 | 13,886 |
| 2017 | 3,998 | 3,589 | -408 | 14,363 |
| 2018 | 4,123 | 3,745 | -379 | 14,800 |
| 2019 | 4,352 | 3,939 | -414 | 15,254 |
| 2020 | 4,544 | 4,142 | -402 | 15,681 |
| 2021 | 4,739 | 4,354 | -385 | 16,071 |
| 2012-2021 | 39,958 | 34,870 | -5,088 | n.a. |
http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf
Sen. Toomey Unveils his FY 2012 Budget
Senator Pat Toomey Talks with Michael Medved about his Budget
| S-1 FY2012 Senator Pat Toomey(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurplus | Debt Held By Public |
| 2011 | 3,625 | 2,230 | -1,351 | 10,351 |
| 2012 | 3,477 | 2,538 | -919 | 11,418 |
| 2013 | 3,485 | 2,964 | -521 | 12,217 |
| 2014 | 3,509 | 3,216 | -291 | 12,801 |
| 2015 | 3,623 | 3,391 | -233 | 13,326 |
| 2016 | 3,765 | 3,524 | -241 | 13,886 |
| 2017 | 3,853 | 3,736 | -117 | 14,363 |
| 2018 | 3,955 | 3,916 | -39 | 14,800 |
| 2019 | 4,140 | 4,108 | -32 | 15,254 |
| 2020 | 4,302 | 4,325 | 23 | 15,681 |
| 2021 | 4,493 | 4,566 | 73 | 16,071 |
| 2012-2021 | 38,602 | 36,304 | -2298 | n.a. |
http://www.scribd.com/doc/55116239/Restoring-Balance-Final
SA@TAC – The GOP, War and the Debt
3/09/11: Sen. Rand Paul on balancing the budget
03/17/11: Sen. Rand Paul Introduces Five-Year Balanced Budget Plan
| S-1 FY2012 Senator Rand Paul(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurpluses | Debt Held By Public |
| 2011 | 3,708 | 2,228 | -1,480 | 10,430 |
| 2012 | 3,100 | 2,547 | -553 | 11,051 |
| 2013 | 3,152 | 2,755 | -397 | 11,532 |
| 2014 | 3,227 | 3,088 | -139 | 11,748 |
| 2015 | 3,360 | 3,244 | -116 | 11,942 |
| 2016 | 3,430 | 3,349 | 19 | 11,997 |
| 2012-2016 | 16,269 | 15,083 | -1,188 | n.a. |
http://campaignforliberty.com/materials/RandBudget.pdf
Tea Party Budget Proposals
| S-1 FY2012 Tea Party’s Balanced/Surplus Budget(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | Surpluses | Debt Held By Public |
| 2012 | 2,500 | 2,500 | 0 | 10,900 |
| 2013 | 2,800 | 2,800 | 0 | 10,900 |
| 2014 | 3,000 | 3,000 | 0 | 10,900 |
| 2015 | 3,200 | 3,200 | 0 | 10,900 |
| 2016 | 3,300 | 3,300 | 0 | 10,900 |
| 2017 | 3,400 | 3,500 | 100 | 10,800 |
| 2018 | 3,500 | 3,700 | 200 | 10,600 |
| 2019 | 3,600 | 3,900 | 300 | 10,300 |
| 2020 | 3,700 | 4,000 | 300 | 10,000 |
| 2021 | 3,800 | 4,300 | 500 | 9,500 |
| 2012-2021 | 32,800 | 34,200 | 1,400 | n.a. |
Related Posts On Pronk Palisades
The President Obama Exposed As An Empty Suit That Negotiates In Bad Faith With No Democratic Party or Presidential Plan–All Talk and No Walk–Videos
The Pronk Plan for A Peace and Prosperity Economy–Videos
Related Posts On Pronk Pops
Pronk Pops Show 37, July 20, 2011–Segment 0: President Obama Lies and Scares People On Social Security–Stop Spending and Balance The Budget!–Videos
Pronk Pops Show 37, July 20, 2011: Segment 1: The American People’s Solution To Economic Stagnation: Increase National Debt Ceiling By $2,000 Billion To $16,300 Billion In Exchange For Passage of A Balanced Budget Amendment And The FairTax Bills And Repealing The Income Tax 16th Amendment To U.S. Constitution–A Balanced, Fair And Transparent Approach To Creating Jobs and Growing A Peace and Prosperity Economy–Videos
Pronk Pops Show 37, July 20, 2011: Segment 2: It’s Time For A Permanent, Prevasive and Predictable Stimulus Package–The FairTax–Launching A Peace and Prosperity Economy–Videos
Pronk Pops Show 37, July 20, 2011: Segment 3: Senator Tom Coburn’s
Read Full Post | Make a Comment ( 1 so far )Memo To Tea Party Constitutional Republicans–Insist That 10% Of Any National Debt Increase Be A Cut In The Fiscal Year 2012 House of Representatives Budget Resolution–Videos
“A Conservative is a fellow who is standing athwart history yelling ‘Stop!’”
~William F. Buckley, Jr.
Understanding The Debt Crisis In The U.S.
Ron Paul: Rein in Government Spending to Reduce the Debt
The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.
http://www.shadowstats.com/alternate_data/inflation-charts
Ron Paul to Congress: If Debt Is the Problem, Why Do You Want More of It?
Ron Paul: I’ll Vote Against Raising the Debt Limit
Ron Paul Ad – Conviction
Ron Paul ‘Annoyed’ at President Obama
Ron Paul Talks on The Federal Reserves Manipulation of US Dollar & The Tyranny of the TSA
Peter Schiff Responds to Timothy Geithner on Debt Ceiling He’s just making this stuff up!
A Promise That Cannot Be Kept | THE PLAIN TRUTH by Judge Napolitano
An open letter from Judge Andrew Napolitano to Speaker John Boehner
Underwhelming Spending Cuts from Congress and Obama
Dan Mitchell Exposing DC’s Fake Spending-Cut Scam with Judge Napolitano
“Cut, Cap and Balance,” the Debt Ceiling and Federal Spending
Dan Mitchell Talking about Downgrades and Debt Limit with Kudlow on CNBC
”Every Man Cannot Have His Way In All Things” President Obama Address
GOP Response To President Obama’s Debt Ceiling Address – 07/25/11
“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.”
~Thomas Jefferson
The American people want government spending to be cut, the budget balanced and no increase the national debt ceiling starting in Fiscal Year 2012.
The only real cuts in the Federal government spending are cuts to the budget baseline for Fiscal Year 2012 not cuts in the rate of growth of the baseline.
Please downsize the government by closing Departments, Agencies and programs and not voting for an increase the National Debt ceiling.
The time has come to furlough without pay non-essential government employees starting on August 2, 2011.
If you must betray the Tea Party and conservative movements and the American people at least insist that for every dollar increase in the national debt ceiling at least 10 cents be cut from the House of Representatives Fiscal Year 2012 Budget Resolution:
FY 2012 Budget Resolution
( Nominal Dollars In Billions)
OUTLAYS 3,529
REVENUES 2,533
DEFICIT 995
DEBT HELD BY THE PUBLIC 11,418
As A Share of GDP
OUTLAYS 22.5
REVENUES 16.1
DEFICIT 6.3
DEBT HELD BY THE PUBLIC 72.8
http://budget.house.gov/UploadedFiles/SummaryTables.pdf
If you vote for a $1,000 billion increase in the National Debt ceiling then require the House of Representatives Fiscal Year 2012 Budget Resolution be cut by $100 billion to $3,429 billion with a $885 billion dollar deficit.
If you vote for a $2,000 billion increase in the National Debt ceiling then require the House of Representatives Fiscal Year 2012 Budget Resolution be cut by $200 billion to $3,329 billion with a $785 billion dollar deficit.
If you vote for a $3,000 billion increase in the National Debt ceiling then require the House of Representatives Fiscal Year 2012 Budget Resolution be cut by $300 billion to $3,229 billion with a $685 billion dollar deficit.
If you vote for a $4,000 billion increase in the National Debt ceiling then require the Fiscal Year Budget be cut by $400 billion to $3,129 with a $585 billion dollar deficit.
If you vote for a $10,000 billion increase in the National Debt ceiling then require the Fiscal Year Budget be cut by $1,000 billion to $2, 529 with a $ 4 billion dollar surplus.
Otherwise you will be considered a traitor to the Tea Party movement and be voted out of office in 2012.
Either you are a Constitutionalist Republican or an Establishment Republican, you are either with the tea party or you are against the Tea party.
If you go back to the Fiscal Year 2005 government spending or outlay level, you can balance the budget this year.
I agree with President Obama that we need comprehensive tax reform and Speaker Boehner that we need something dramatic or a breakthrough.
Pass the FairTax to increase economic growth, jobs, savings, investment, productivity and even tax revenues by expanding the tax base.
The FairTax would replace the current Federal income, payroll, gift and estate taxation system which everyone agrees is too complex, costly and unfair.
The FairTax: It’s Time
Lugar Cosponsors the FairTax
Ron Paul on Taxes
Start listening to Ron Paul if you want to get re-elected.
No more commissions or backroom deals.
Cut spending now!
The choice is yours.
“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”
~Thomas Jefferson
Background Articles and Video
Sen. Toomey Gives a Speech on the Debt Limit at AEI
Smoke and Mirrors on Spending Cuts
Ron Paul on the U.S. Government’s Debt Crisis
The Debt Limit: Made Simple
Ron Paul 2012 Amazing!!!
Rasmussen Reports
Most Voters Are Unhappy With Both Sides in the Debt Ceiling Debate
“…Most voters don’t care much for the way either political party is performing in the federal debt ceiling debate.
The latest Rasmussen Reports national telephone survey finds that 58% of Likely U.S. Voters at least somewhat disapprove of the way President Obama and congressional Democrats are handling the debate over the debt ceiling, with 38% who Strongly Disapprove. But 53% also disapprove of how congressional Republicans are handling the debate, including 32% who Strongly Disapprove.
Just 36% approve of how Obama and Democrats are doing, with 10% who Strongly Approve. Forty percent (40%) approve of the GOP’s performance, including 13% who Strongly Approve. (To see survey question wording, click here.)
While the two sides continue to wrangle over how to avoid defaulting on the government’s massive debt load, most voters nationwide are worried the final deal will raise taxes too much and cut spending too little.
Whatever spending cuts are in the final deal, 49% of all voters don’t think the government will actually cut the spending agreed upon. A commentary by Scott Rasmussen, published in Politico, put it this way: “Based on the history of the past few decades, voters have learned that politicians promising unspecified spending cuts should be treated with all the credibility of a six-year old boy caught with his hand in the cookie jar promising to be good for the rest of his life.” …”
Rasmussen Reports
55% Oppose Tax Hike In Debt Ceiling Deal
“…As the Beltway politicians try to figure out how they will raise the debt ceiling and for how long, most voters oppose including tax hikes in the deal.
Just 34% think a tax hike should be included in any legislation to raise the debt ceiling. A new Rasmussen Reports national telephone survey finds that 55% disagree and say it should not. …”
“…There is a huge partisan divide on the question. Fifty-eight percent (58%) of Democrats want a tax hike in the deal while 82% of Republicans do not. Among those not affiliated with either major political party, 35% favor a tax hike and 51% are opposed.
Americans who earn more than $75,000 a year are evenly divided as to whether a tax hike should be included in the debt ceiling deal. Those who earn less are opposed to including tax hikes.
Voters remain very concerned about the debt ceiling issue. Sixty-nine percent (69%) believe that it would be bad for the economy if a failure to raise the debt ceiling led to government defaults. Only 6% believe it would be good for theeconomy. Fourteen percent (14%) believe it would have no impact and 11% are notsure. These figures are little changed from a few weeks ago. …”
House passes Ryan’s ’12 budget; conservatives want more cuts
“…The House on Friday approved a fiscal year 2012 budget resolution from Budget Committee Chairman Paul Ryan (R-Wis.) that seeks to drastically limit government spending next year and in years to follow.
But the vote on the measure — which imposes $5.8 trillion in spending cuts over the next decade — came after a clear sign that at least half of the Republican Caucus supports even tougher spending cuts.
The final tally was 235-193, with four Republicans opposing it. They were Reps. Ron Paul (Texas), Denny Rehberg (Mont.), Walter Jones (N.C.) and David McKinley (W.Va.).
Rehberg, the appropriator in charge of health spending, is running for Montana’s Senate seat.
Majority Whip Kevin McCarthy (R-Calif.) said listening sessions with Republican members made it the strongest vote of the year.
“This is the process we should follow on all votes,” he said.
Every Democrat voted “no.” …”
House passes cut, cap and balance — and a deal is in sight
By Jennifer Rubin
“…The Republican-controlled House defied a presidential veto threat Tuesday night in approving a bill to amend the Constitution to require a balanced federal budget. But Speaker John A. Boehner acknowledged that a backup plan is needed, and a Senate GOP leader said he expects such an alternative to win his chamber’s approval.
The House voted 234 to 190 in favor of the “Cut, Cap and Balance Act,” which the White House has said will be vetoed in the unlikely event it passes the Senate and reaches President Obama’s desk. Faced with those prospects, Boehner told reporters that it would also be responsible to consider a backup plan for raising the federal debt ceiling and thus averting a potentially disastrous default on U.S. obligations.
Neither the Republican Party nor Democratic Party Fiscal Year 2012 budget proposals are the road to peace and prosperity but a Tea Party budget with balanced budgets most definitely is:
Which Budgets Are Balanced And Living Within The Means of The American People?
4/5/11 Republican Leadership Press Conference
Democratic Party Budget Proposals
|
S-1 FY2012 President’s Budget (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,819 | 2,174 | -1,645 | 10,856 |
| 2012 | 3,729 | 2,627 | -1,101 | 11,881 |
| 2013 | 3,771 | 3,003 | -768 | 12,784 |
| 2014 | 3,977 | 3,333 | -646 | 13,562 |
| 2015 | 4,190 | 3,583 | -607 | 14,301 |
| 2016 | 4,468 | 3,819 | -649 | 15,064 |
| 2017 | 4,669 | 4,042 | -627 | 15,795 |
| 2018 | 4,876 | 4,257 | -619 | 16,513 |
| 2019 | 5,154 | 4,473 | -681 | 17,284 |
| 2020 | 5,442 | 4,686 | -735 | 18,103 |
| 2021 | 5,697 | 4,923 | -774 | 18,967 |
| 2012-2021 | 45,952 | 38,747 | -7,205 | n.a. |
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf
Republican Party Budget Proposals
|
S-1 FY2012 Chairman’s Markup (Nominal Dollars in Billions) |
||||
| Fiscal Year | Outlays | Revenues | Deficits | Debt Held By Public |
| 2011 | 3,618 | 2,230 | -1,388 | 10,351 |
| 2012 | 3,529 | 2,533 | -995 | 11,418 |
| 2013 | 3,559 | 2,860 | -699 | 12,217 |
| 2014 | 3,586 | 3,094 | -492 | 12,801 |
| 2015 | 3,671 | 3,237 | -434 | 13,326 |
| 2016 | 3,858 | 3,377 | -481 | 13,886 |
| 2017 | 3,998 | 3,589 | -408 | 14,363 |
| 2018 | 4,123 | 3,745 | -379 | 14,800 |
| 2019 | 4,352 | 3,939 | -414 | 15,254 |
| 2020 | 4,544 | 4,142 | -402 | 15,681 |
| 2021 | 4,739 | 4,354 | -385 | 16,071 |
| 2012-2021 | 39,958 | 34,870 | -5,088 | n.a. |
http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf
Sen. Toomey Unveils his FY 2012 Budget
Senator Pat Toomey Talks with Michael Medved about his Budget
| S-1 FY2012 Senator Pat Toomey(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurplus | Debt Held By Public |
| 2011 | 3,625 | 2,230 | -1,351 | 10,351 |
| 2012 | 3,477 | 2,538 | -919 | 11,418 |
| 2013 | 3,485 | 2,964 | -521 | 12,217 |
| 2014 | 3,509 | 3,216 | -291 | 12,801 |
| 2015 | 3,623 | 3,391 | -233 | 13,326 |
| 2016 | 3,765 | 3,524 | -241 | 13,886 |
| 2017 | 3,853 | 3,736 | -117 | 14,363 |
| 2018 | 3,955 | 3,916 | -39 | 14,800 |
| 2019 | 4,140 | 4,108 | -32 | 15,254 |
| 2020 | 4,302 | 4,325 | 23 | 15,681 |
| 2021 | 4,493 | 4,566 | 73 | 16,071 |
| 2012-2021 | 38,602 | 36,304 | -2298 | n.a. |
http://www.scribd.com/doc/55116239/Restoring-Balance-Final
SA@TAC – The GOP, War and the Debt
3/09/11: Sen. Rand Paul on balancing the budget
03/17/11: Sen. Rand Paul Introduces Five-Year Balanced Budget Plan
| S-1 FY2012 Senator Rand Paul(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | DeficitsSurpluses | Debt Held By Public |
| 2011 | 3,708 | 2,228 | -1,480 | 10,430 |
| 2012 | 3,100 | 2,547 | -553 | 11,051 |
| 2013 | 3,152 | 2,755 | -397 | 11,532 |
| 2014 | 3,227 | 3,088 | -139 | 11,748 |
| 2015 | 3,360 | 3,244 | -116 | 11,942 |
| 2016 | 3,430 | 3,349 | 19 | 11,997 |
| 2012-2016 | 16,269 | 15,083 | -1,188 | n.a. |
http://campaignforliberty.com/materials/RandBudget.pdf
Tea Party Budget Proposals
| S-1 FY2012 Tea Party’s Balanced/Surplus Budget(Nominal Dollars in Billions) | ||||
| Fiscal Year | Outlays | Revenues | Surpluses | Debt Held By Public |
| 2012 | 2,500 | 2,500 | 0 | 10,900 |
| 2013 | 2,800 | 2,800 | 0 | 10,900 |
| 2014 | 3,000 | 3,000 | 0 | 10,900 |
| 2015 | 3,200 | 3,200 | 0 | 10,900 |
| 2016 | 3,300 | 3,300 | 0 | 10,900 |
| 2017 | 3,400 | 3,500 | 100 | 10,800 |
| 2018 | 3,500 | 3,700 | 200 | 10,600 |
| 2019 | 3,600 | 3,900 | 300 | 10,300 |
| 2020 | 3,700 | 4,000 | 300 | 10,000 |
| 2021 | 3,800 | 4,300 | 500 | 9,500 |
| 2012-2021 | 32,800 | 34,200 | 1,400 | n.a. |
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Pass the FairTax and Balance The Budget starting Fiscal Year 2012, otherwise the American people will vote all of you out of office.
Both political parties are lying to the American people.
Neither political party can balance the budget.
For Fiscal Year 2012 the deficit will be about $1,000 billion.
This is not a balanced budget nor a balanced approach.
I am with Ron Paul.
No increase in the debt ceiling.
Start cutting the budget or cut your political throats.
The choice is all yours.
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The Pronk Plan for A Peace and Prosperity Economy–Videos
“…It is a signal advantage of taxes on articles of consumption, that they contain in their own nature a security against excess. They prescribe their own limit; which cannot be exceeded without defeating the end proposed, that is, an extension of the revenue. When applied to this object, the saying is as just as it is witty, that, “in political arithmetic, two and two do not always make four.” If duties are too high, they lessen the consumption; the collection is eluded; and the product to the treasury is not so great as when they are confined within proper and moderate bounds. This forms a complete barrier against any material oppression of the citizens by taxes of this class, and is itself a natural limitation of the power of imposing them….”
~Alexander Hamilton, The Federalist No. 21, The Federalist Papers
“The income tax created more criminals than any other single act of government.”
~Barry Goldwater
The FairTax: It’s Time
Lugar Cosponsors the FairTax
Milton Friedman on Libertarianism (Part 4 of 4)
Ron Paul July 19th – If the debt is the problem, how do you solve it with more debt?
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Ron Paul & The Gold Standard
Milton Friedman on The Gold Standard
“If we cannot persuade the public that it is desirable to do these things, we have no right to impose them even if we had the power to do it.”
~ Milton Friedman
The Pronk Plan for A Peace and Prosperity Economy
1. Federal Tax Reform and End The Internal Revenue Service: The FairTax should replace all Federal taxes and the Internal Revenue Service should be ended with all Internal Revenue records destroyed. A bureau of FairTax Revenues (FTR) would be established in the Department of the Treasury to both send monthly prebates to each American citizen and collect FairTax revenues from retailers and the states.
2. Government Spending: surplus budgets to pay down the National Debt by restricting fiscal year spending outlays to 80% of previous year’s FairTax revenue collections with the remaining 20% of revenue collection to pay down the national debt.
3. Size and scope of the government: At least ten Federal Departments, many Federal agencies and hundreds of Federal programs should be closed down permanently. The number of Federal government employees and contract personnel and consultants needs to be cut by at least 50%.
4. National Defense: Budget 5% of our nation’s gross domestic product for national defense, intelligence gathering, securing our borders and homeland security.
5. Foreign Affairs: End US involvement with the United Nations and bring all the troops home from abroad including from the countries of Germany, Italy, United Kingdom, Spain, Japan, South Korea, Afghanistan, Bahrain, Djibouti, Iraq, Kuwait, Libya, and Qatar.
6. Social Security and Medicare: Transform them from a government controlled and operated system to an individual controlled and owned investment system where benefits are based upon payments into a person’s account and investment performance. All persons over the age of forty-five would have the option to remain under the existing Social Security and Medicare programs or go into the new individual controlled and owned system. All persons under age forty-five would establish, control and own their individual disability, life and health insurance and retirement savings accounts with a maximum contributions of twenty-five percent (25%) of their income per year. All persons over the age of sixty-five would continue to receive Social Security and Medicare Benefits under the existing system.
7. Immigration: immigration law enforcement, illegal alien removal and deportation, and controlled and limited legal immigration. The number of legal immigrants each year would range from a minimum of 200,000 persons when the official unemployment rate exceeds eight percent (8%) to a maximum of 500,000 persons per year when the official unemployment rate is less than two percent (2%). All new citizens must speak, read and write English before becoming a United States citizen.
8. Promote competition in education: provide all parents with school vouchers that enable them to choose the school their children attend including home schooling and online schooling.
9. Health Care Reform: affordable, portable, individual, tax favored, and competitive health insurance plans and expanded health savings accounts.
10. End the Federal Reserve System and fiat paper money and institute a new gold backed currency standard. Let money interest rates be determined in the market place and not controlled and fixed by the Federal Reserve System.
11. End all Federal subsidies to businesses no matter what form the subsidies take.
12. Eliminate Federal Government regulations that put U.S. businesses at a competitive disadvantage.
13. Energy Independence: repeal all laws and regulations that are impeding the growth and expansion of US energy production including oil and gas exploration and refining and nuclear electrical power generation plant construction and operation.
14. Preserve, protect and defend the Constitution of the United States of America: appoint judges and public servants that will uphold their oaths.
The above Fourteen Issue Positions should receive the support of the vast majority of the American people including Democrats, Republicans, Independents, Libertarians and others.
However, both the Democratic and Republican Party establishments would not support these Fourteen Issue Positions in their entirety.
The Tea Party movement must transform itself into a viable political party that is fundamentally different from both the Democratic and Republican parties.
The ruling political class and elites in Washington, D.C. are responsible for the economic, political and military mess the United States and the American people currently finds themselves.
The warfare and welfare economy of ever-expanding centralized collectivist government must be transformed into a peace and prosperity economy with a limited and constrained Constitutional republic.
Background Articles and Videos
The Gold Standard Revisited
The Gold Standard in Theory and Myth (by Joseph Salerno)
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Space Shuttle Atlantis Lands–A New Era of Competitive Free Enterprise In Space Is Launched–A Race To The Moon and Mars–Space The Final Frontier–Peter Diamandis, The X Prize And The Importance of Economic Incentives–Videos
Space shuttle Atlantis makes final landing
Private enterprise takes over space race
Peter Diamandis on the X PRIZE and Private Space Flight
Peter Diamandis: Taking the next giant leap in space
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“Inspired by Charles Lindberg’s Spirit of St. Louis, X PRIZE founder and space entrepreneur Peter Diamandis explains to interviewer George Zachary of Charles River Ventures that offering a high profile cash reward can often be more financially advantageous – and more aggressive in moving forward a societal push – than simply funding a good idea. Diamandis describes his incredible quest for funding, pitching hundreds of potential benefactors without success. Not to be deterred, he announced the first X PRIZE contest with no competing teams and not a penny of the $10 million prize money on hand. His unbelievable tale grows even longer as he describes how funding came from a bet placed with a space insurance company, and how he had to scramble for the $50 thousand premium every month.”
Peter Diamandis – The best way to predict the future
“…Peter Diamandis, Chairman and Co-Founder of Singularity University, discusses the best way to predict the future, and shares his personal philosophies on innovation and the commercial space industry. Flimed at Singularity University’s Executive Program, March 2010. …”
Falcon Heavy
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SpaceX Falcon 9 Rocket #3
Falcon/Dragon: ISS Cargo Resupply
“…A 60-second long test firing of the Falcon 9 Flight 3 second stage, conducted June 28, 2011 at the SpaceX Test Facility in McGregor. Texas. The Merlin Vacuum second stage engine generates 92,500 lb of force in vacuum, and operates with a vacuum specific impulse of 342 seconds – the highest efficiency ever for an American hydrocarbon rocket engine. In flight the engine ignites about 3 minutes after launch, delivering the Dragon spacecraft to orbit about 6 minutes later.
Atlantis has landed, ending NASA’s shuttle era
“…The space shuttle Atlantis glided home through a clear moonlit sky on Thursday to complete a 13-day cargo run to the International Space Station and a 30-year odyssey for NASA’s shuttle program.
Commander Chris Ferguson gently steered the 100-tonne spaceship high overhead, then nose-dived toward the swamp-surrounded landing strip at the Kennedy Space Center, a few miles (kilometers) from where Atlantis will go on display as a museum piece.
Double sonic booms shattered the predawn silence around the space center, the last time residents will hear the distinctive sound of a shuttle coming home.
Ferguson eased Atlantis onto the runway at 5:57 a.m. EDT, ending a 5.2 million-mile (8.4 million-km) journey and closing a key chapter in human space flight history.
“Mission complete, Houston,” Ferguson radioed to Mission Control.
Astronaut Barry Wilmore from Mission Control answered back, “We’ll take this opportunity to congratulate you Atlantis, as well as the thousands of passionate individuals across this great space-faring nation who truly empowered this incredible spacecraft, which for three decades has inspired millions around the globe.”
Background Articles and Videos
Dr. Peter H. Diamandis
“…Dr. Peter H. Diamandis (born May 20, 1961, in The Bronx, New York City, New York), of Greek immigrant parents, is considered a key figure in the development of the personal spaceflight industry, having created many space-related businesses or organizations. He is the Founder and Chairman of the X PRIZE Foundation, an educational non-profit prize institute whose mission is to create radical breakthroughs for the benefit of humanity.[1]
His foundation is best known for offering the $10 million Ansari X PRIZE for private-sector manned spaceflight, a prize that was won in October 2004 by Microsoft co-founder Paul Allen and famed aviation designer Burt Rutan with SpaceShipOne, the world’s first non-government piloted spacecraft. More recently, Diamandis has created the Rocket Racing League. Born as a cross between Indy car racing and rocket-powered flight, RRL is developing a brand-new motor sport.
In addition to serving as chairman of the X PRIZE Foundation, Diamandis is also the CEO and co-founder of Zero Gravity Corporation, which offers parabolic weightless flights to the general public. He is also the co-Founder and a Director of Space Adventures, Ltd, the company that has flown eight private citizens on Soyuz to the International Space Station. …”
http://en.wikipedia.org/wiki/Peter_Diamandis
Read Full Post | Make a Comment ( None so far )Conservative, Libertarian and Tea Party Movements Sold Out and Betrayed By Gang of Six and Progressive Republicans In Senate–Videos
Pronk Pops Show 37:July 20, 2011
Pronk Pops Show 36:July 13, 2011
Pronk Pops Show 35:July 6, 2011
Pronk Pops Show 34:June 29, 2011
Listen To Pronk Pops Podcast or Download Shows 34-37
Listen To Pronk Pops Podcast or Download Shows 30-33
Listen To Pronk Pops Podcast or Download Shows 27-29
Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26
Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)
Listen To Pronk Pops Podcast or Download Shows 10-15
Listen To Pronk Pops Podcast or Download Shows 1-9
Segment 4: Conservative, Libertarian and Tea Party Movements Sold Out and Betrayed By Gang of Six and Progressive Republicans In Senate–Videos
Gang of 6 Plan Could Offer GOP Path to Debt Deal
The CBS Evening News w…: Clock ticking on debt reform plans
2011 07 19 Crapo on Bloomberg
Senator Warner calls for a bipartisan solution to the deficit
Face The Nation with B…: Coburn, Durbin agree debt compromise will be
Solving the Debt Ceiling Crisis
Obama Applauds ‘Gang Of Six’
Meet the Senate’s “Gang of Six”
Dr. Coburn on CNBC Kudlow Report: “Came to an impasse in Gang of Six negotiations”
Michael Bennet: Gang of Six ‘Not Dead’
Crapo on Fox News’ Special Report with Brett Baier
Grover Norquist Responds to Sen. Tom Coburn- MSNBC
Debt Ceiling: Chris Mathews Dukes it Out With ‘NO’ Mastermind, Republican Grover Norquist
Sen. Toomey Talks Debt Limit on Fox and Friends
Senator Pat Toomey Explains That Failing To Raise Debt Limit Doesn’t Cause Default
Sen. Toomey Gives a Speech on the Debt Limit at AEI
“Cut, Cap and Balance,” the Debt Ceiling and Federal Spending
It’s Simple to Balance The Budget Without Higher Taxes
Conviction, Not Compromise!
Ron Paul to Congress If Debt Is the Problem, Why Do You Want More of It
The estimated total tax revenues in Fiscal Year 2012 are estimated to be between $2,500 billion and $2,600 billion.
The gang of six Fiscal Year 2012 budget will have outlays or spending between $3,500 billion to $3,700 billion
The Fiscal Year 2012 will result in a deficit of over $1,000 billion under the gang of six’s plan.
The Fiscal Year 2012 budget for outlays or spending needs to be reduced by $500 billion to $3,000 billion or less.
This would result in a deficit of about $500 billion.
Any politician who votes for the gang of six so-called compromise balanced approach of more taxes now and spending cuts in the out years will not be getting my vote.
Both President Ronald Reagan and George H.W. Bush fell for a similar compromise of tax increases now for future spending cuts that never happened.
Reagan; Taxes and Budget Deficit: Revenue 19% of GDP; Spending is 23%; Revenue is sufficient
Cut spending and balance the budget in Fiscal Year 2012 and 2013.
Pass the FairTax bill.
Tax increases will put the economy into another recession or depression.
Monetization of the debt by the Federal Reserve only leads to defaulting on the debt by debasing or devaluing of the currency which results in rising prices or inflation and a decrease in the purchasing power of the U.S. dollar.
Explanation of Fed Monetizing US Debt
Quantitative Easing Explained
The gang of six compromise is a betrayal of the American people.
No deal.
Background Articles and Videos
Debt hope: Obama praises ‘Gang of Six’ plan
Obama, some Republicans laud Senate ‘Gang of Six’ deficits plan as a way ahead on debt limit
“…President Barack Obama and a startling number of Republican senators lauded a bipartisan deficit-reduction plan Tuesday that includes $1 trillion in higher taxes, raising hopes of a last-minute compromise to repair the nation’s finances while averting a government default. Wall Street saluted as well. …”
“…Unlike Obama, Sen. Jim DeMint, R-S.C. was harshly critical, calling McConnell’s approach “smoke and mirrors.”
“If Republicans do not show the political will to stop the spending, and use the debt limit to make our case, the party is gone,” he was quoted as saying on National Review Online.
The Gang of Six envisioned a two-stage process in which $500 billion in savings would be enacted swiftly, with the more complicated changes in programs like Medicare and Medicaid to follow.
http://finance.yahoo.com/news/Debt-hope-Obama-praises-Gang-apf-120819518.html?x=0
Obama Backs New Senate Debt Plan
“…The proposal would cut spending, overhaul entitlement programs such as Medicare, rework the tax code, and make significant changes to Social Security. He said he still hadn’t read all the details of the plan, and said it will be difficult for all parties to reach agreement.
The plan is sweeping in its scope but was thought for months to be both overly ambitious and slightly ambiguous, which nearly led the effort to collapse in recent weeks. But the plan was revived, in part by its lead authors—Sens. Mark Warner (D., Va.) and Saxby Chambliss (R., Ga.)—and the flood of bipartisan support coming out of the meeting surprised them both, the lawmakers said.
Senate Democratic leaders reacted cautiously, saying the Gang of Six plan had come too late to be incorporated into legislation increasing the debt ceiling.
Sen. Richard Durbin (D., Ill), one of six senators who helped crafted the plan, said it wouldn’t form part of a debt-ceiling package that must be passed by Congress before Aug. 2. Senate Majority Leader Harry Reid (D., Nev.) said he thought there could be elements of the plan that might be wrapped into the legislation increasing the debt ceiling.
Aides said the plan still lacked many crucial details. Its release, instead, would influence the budget landscape after Aug. 2, aides said. …”
“…Central parts of the plan would:
• Impose immediate spending cuts and caps that reduce the deficit by $500 billion over 10 years.
• Make changes to Social Security to make the program solvent over 75 years.
• Direct key congressional committees to find specific levels of deficit reduction within their areas of jurisdiction. If the committees fail, then five Democratic and five Republican senators would be able to offeKr their own deficit-reduction plan as a replacement.
Messrs. Warner and Chambliss said they asked the other lawmakers at the meeting to report back to them within 24 hours with any feedback, and several lawmakers said the group had already begun drafting legislation. …”
Related Posts On Pronk Palisades
Senator Tom Coburn–A Real Conservative and An Excellent Vice-President Candidate
Read Full Post | Make a Comment ( None so far )Senator Tom Coburn’s $9,000 Billion Deficit Reduction Plan–Videos
Pronk Pops Show 37:July 20, 2011
Pronk Pops Show 36:July 13, 2011
Pronk Pops Show 35:July 6, 2011
Pronk Pops Show 34:June 29, 2011
Listen To Pronk Pops Podcast or Download Shows 34-37
Listen To Pronk Pops Podcast or Download Shows 30-33
Listen To Pronk Pops Podcast or Download Shows 27-29
Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26
Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)
Listen To Pronk Pops Podcast or Download Shows 10-15
Listen To Pronk Pops Podcast or Download Shows 1-9
Segment 3: Senator Tom Coburn’s $9,000 Billion Deficit Reduction Plan–Videos
Sen. Tom Coburn (R-OK) Unveils $9 Trillion Deficit Reduction Plan
“…Today, July 18, 2011, Senator Tom Coburn (R-OK) offered a plan to cut the U.S. deficit by $9 trillion over the next 10 years. The Senator’s plan includes tax reform measures recommended by the President’s own commission on deficit reduction, cuts to defense spending, structural entitlement reform and contains a run-away federal workforce. You might not like this plan, nor the Paul Ryan plan, but it’s at least a plan. Democrats have so far refused to put pen to paper. …”
Sen. Tom Coburn proposes budget plan to cut $9 trillion over next decade
Sen. Coburn Reveals Deficit Reduction Plan
Sen. Coburn: Worst Tax Comes From Government Printing Money
Senator Tom Coburn Tells Me Why He Likes Bloggers
“…U.S. Senator Tom Coburn, M.D. (R-OK) today released a new report “Back in Black” that outlines how the federal government can reduce the deficit by $9 trillion over the next ten years and balance the federal budget. The 614-page plan was the result of a thorough and exhaustive review of thousands of federal programs.
“The American people are tired of Washington waiting until the last minute to avoid a crisis, particularly when it is a crisis Washington itself created. The crisis, though, is not the debt limit deadline. The crisis is Congress’ refusal to make hard choices and reduce a debt that has become our greatest national security threat. The plan I am offering today gives Washington 9 trillion reasons to stop making excuses and start solving the problem,” Dr. Coburn said.
“Both parties will no doubt criticize portions of this plan and I welcome that debate. My goal is not to replace the work of the budget committees but to show the American people what is possible and necessary. What is not acceptable, however, is not having a plan and delaying reform until some perfect political moment that will never arrive. The fact is doing nothing is a tax increase, a benefit cut for seniors and the poor, and a betrayal of the core values both parties hold dear,” Dr. Coburn said.
Dr. Coburn’s full report is here. A section by section outline of the report is here. A summary of savings is here. Highlights of the report here. …”
Details of Sen. Tom Coburn’s $9 trillion plan to balance the budget released
U.S. Sen. Tom Coburn, R-Muskogee, would change entitlements, end numerous tax loopholes and cut military spending by $1 trillion to balance the federal budget.
“…Would save about $9 trillion over 10 years, including $3 trillion from entitlements, $3 trillion from government departments and agencies, $1 trillion from defense, $1 trillion from ending or modifying tax breaks and deductions, and $1 trillion in interest on the debt.
Would reduce the size of government by 25 percent over 10 years.
Would balance the budget within 10 years.
Coburn proposes $9 trillion deficit cut measure
ANDREW TAYLOR
“…The plan by Sen. Tom Coburn, R-Okla., is laced with politically perilous proposals like raising to 70 the age at which people can claim their full Social Security benefits. It would cut farm subsidies, Medicare, student aid, housing subsidies for the poor, and funding for community development grants. Coburn even takes on the powerful veterans’ lobby by proposing that some veterans pay more for medical care and prescription drugs.
Coburn would also eliminate $1 trillion in tax breaks over the coming decade, earning him an immediate rebuke from Americans for Tax Reform, an anti-tax organization with which Coburn has had a running feud. He would block taxpayers from claiming the mortgage interest deduction on second homes and limit it to homes worth $500,000. He would also ease taxpayers into higher tax brackets more quickly by using a smaller measure of inflation to adjust the brackets.
Coburn was a member of President Barack Obama’s fiscal commission and voted for its plan to cut the budget by about $4 trillion over a decade. He recently dropped out of the closely watched “Gang of Six” senators seeking a bipartisan agreement to rein in deficits and break through the partisanship engulfing official Washington over the deficit.
His re-entry into the deficit debate comes as Obama and lawmakers struggle over increasing the so-called debt limit and avoid a first-ever default on U.S. obligations.
Coburn’s $9 trillion savings figure doesn’t include another $2.4 trillion in cuts to Social Security that are funneled back into the program. In addition to raising the retirement age gradually, he would peg future benefits to a less-generous measure of inflation and curb benefit increases even more for the top 40 percent of earners. …”
“…Cuts to the Medicare program for the elderly and the Medicaid health plan for the poor and disabled would total $2.6 trillion over 10 years, far more than proposed by the fiscal commission or House Republicans. He proposes raising the Medicare retirement age to 67 by 2027 and then gradually increasing it until the retirement age hits 69 in 2080. It would also raise Medicare premiums for doctor visits so that premiums pay 35 percent of such costs instead of the 25 percent currently covered.
Coburn would cut $1 trillion from the Pentagon budget over a decade. He would block military retirees from the Tricare Prime health care plan, the option with the lowest out-of-pocket cost, saving $115 billion, and he would raise the prescription drug copayment under the program, as well as require higher out-of-pocket fees. He also would reduce the fleet of aircraft carriers from 11 to 10 and Navy air wings from 10 to nine.
“I have no doubt that both parties will criticize portions of this plan, and I welcome that debate,” Coburn told reporters. “But it’s not a legitimate criticism until you have a plan of your own.” …”
Read more: http://newsok.com/coburn-proposes-9-trillion-deficit-cut-measure/article/feed/277294#ixzz1SVv9PdWz
Read more: http://newsok.com/coburn-proposes-9-trillion-deficit-cut-measure/article/feed/277294#ixzz1SVuTvAOK
Finally some adult supervision in the Senate.
In order to come even close to balancing the budget over the next ten years requires spending cuts of over $10,000 billion over the next ten years.
Senator Coburn is the first Senator to even come close to this.
Senator Rand Paul is another Senator who understands the urgency and magnitude of the problem.
That said I would much prefer implementing the FairTax over trying to reform the existing Federal income tax system.
Also, I prefer Paul Ryan’s approach to reforming Medicare by letting consumers purchase their own health insurance plan.
I applaud Senator Coburn’s courage in his Back To Black approach to fiscal responsibility and sanity.
A great first rough draft.
Keep up the good work.
I would like to see the revenues and outlays by fiscal year as broken down in the President’s U.S Budget proposals and the Republican proposals by fiscal year over the entire ten year period.
This should be forthcoming if the proposal is to be taken seriously.
Background Articles and Videos
Tom Coburn on U.S. Debt Limit: Political Capital With Al Hunt
Sen. Lieberman, Coburn Spell Out Their Plan to Save $600B
Senator Coburn “The President Submits A Budget To The Senate & No One Agrees To Vote For It!” pt.1
Senator Coburn “The President Submits A Budget To The Senate & No One Agrees To Vote For It!” pt.2
Dr. Coburn addressing underlying problems with the food safety bill
Related Posts On Pronk Palisades
Senator Tom Coburn–A Real Conservative and An Excellent Vice-President Candidate
Read Full Post | Make a Comment ( None so far )The American People’s Solution To Economic Stagnation: Increase National Debt Ceiling By $2,000 Billion To $16,300 Billion In Exchange For Passage of A Balanced Budget Amendment And The FairTax Bills And Repealing The Income Tax 16th Amendment To U.S. Constitution–A Balanced, Fair And Transparent Approach To Creating Jobs and Growing A Peace and Prosperity Economy–Videos
Pronk Pops Show 37:July 20, 2011
Pronk Pops Show 36:July 13, 2011
Pronk Pops Show 35:July 6, 2011
Pronk Pops Show 34:June 29, 2011
Listen To Pronk Pops Podcast or Download Shows 34-37
Listen To Pronk Pops Podcast or Download Shows 30-33
Listen To Pronk Pops Podcast or Download Shows 27-29
Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26
Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)
Listen To Pronk Pops Podcast or Download Shows 10-15
Listen To Pronk Pops Podcast or Download Shows 1-9
Stop Spending Our Future – The Crisis
The Story of Spending
Smoke and Mirrors on Spending Cuts
Spending Restraint, Part I: Lessons from Ronald Reagan and Bill Clinton
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
The National Debt Road Trip
How To Balance the Obama Budget
It’s Simple to Balance The Budget Without Higher Taxes
National Debt- How Much Is A Billion Dollars? Dave Walker
Obama: I’m Willing to Compromise
We Cannot Bind a Future Congress
GOP: We Need a Balanced Budget Amendment
Obama: We don’t need a balanced budget amendment
A Balanced Budget Amendment: The Path to Fiscal Sanity
The Time is NOW – Balanced Budget Amendment
Senator Lee Introduces Cut, Cap, Balance Act as a Sensible Solution for Raising the Debt Ceiling
Our Troubling Tax System
Barack Obama will raise Capital Gains Taxes…even if it means less tax revenue!!
Ron Paul & Judge Napolitano on FOX News 03/10/11
The FairTax: It’s Time
Lugar Cosponsors the FairTax
Herman Cain on Taxes
Flat Tax vs. National Sales Tax
Ron Paul – THE FAIRTAX REVOLUTION
Mike Huckabee – What is the “Fair Tax?”
Fair Tax Panel with Grover Norquist on FOX Business
Ron Paul Opposes Raising Debt Limit
Bachmann Stands Strong Against Raising Debt Ceiling
Milton Friedman on Libertarianism (Part 4 of 4)
How To Amend The U.S. Constitution
How To Amend the U.S. Constitution
Cut, Cap & Balance! Senators Paul, Lee and Vitter want a Constitutional Amendment
Cut, Cap and Balance…A Great Way To Keep Our Debt From Overtaking Our Future
Ron Paul Ad – Conviction Not Compromise
Ron Paul Will Beat Obama In 2012
I agree with Ron Paul and Michele Bachmann that the National Debt ceiling should not be increased.
I support and have signed the cut, cap, and balance pledge.
Only if both the balanced budget amendment and FairTax bills are passed with a provision repealing the income tax 16th Amendment would I support the raising of the National Debt ceiling by an amount not exceeding $2,000 billion.
This would require the Democratic Party in both the House of Representatives and Senate to vote for this and the President signing these bills.
Barring this, the President needs to start informing nonessential government employees that their jobs have been terminated.
The priorities for Federal Government outlays should be as follows:
1. Interest on the national debt
2. Social Security
3. Medicare and Medicaid
5. Department of Treasury
6. Department of Justice
7. Department of State
8. Department of Defense (60% of total budget outlays) with salaries of military personnel on active duty paid first.
The above is about 65% of total government expenditures or outlays.
The Federal government should start selling all of its real estate asset and gold to make up any shortfall in tax revenues.
The remaining Federal Departments need to be closed and only operations that are absolutely essential should continue operating.
It should take a minimum of two to five years to have the necessary 38 states ratify the Balanced Budget Amendment and an Amendment repealing the income tax 16th Amendment to the Consitution to the United States.
Until these amendments are ratified the U.S. Federal Government budget should be balanced and the income tax replaced by the consumption tax–The FairTax.
The Budget for Fiscal Year 2012 should not exceed $3,000 billion not the proposed $3,500 billion Republican budget which has a deficit of nearly $1,000 billion.
Congress should balance the budget starting in Fiscal Year 2013 at $ 3,000 billion or less.
Time for the House of Representatives to call President Obama’s bluff.
The American people want Federal Government spending to be drastically cut and all U.S. Federal Government budgets balanced starting no later than Fiscal year 2013.
The American people want all Federal Government taxes to be replaced with a national retail consumption sales tax on all new goods and services–the FairTax.
The FairTax should go into operation on January 1, 2013 at the latest and would replace all Federal Government taxes including income, payroll, gift and estate taxes.
The time has come to call the President’s bluff.
If the Democrats vote against this, then the American people will blame them for shutting down the Federal Government.
Background Articles and Videos
Legendary investor Jim Rogers- “Ron Paul is the only politician that has a clue”
http://en.wikipedia.org/wiki/Economy_of_the_United_States
| Summary of Outlays, Revenues (Receipts), Deficits, Surpluses Fiscal Years 1980-2010(Nominal Dollars in Millions) | |||
| Fiscal Year | Outlays | Revenues (Receipts) | Deficits (-), Surpluses |
| 1980 | 590,941 | 517,112 | -73,830 |
| 1981 | 678,241 | 599,272 | -78,968 |
| 1982 | 745,743 | 617,766 | -127,977 |
| 1983 | 808,364 | 600,562 | -207,802 |
| 1984 | 851,805 | 666,488 | -185,367 |
| 1985 | 946,344 | 734,037 | -212,308 |
| 1986 | 990,382 | 769,155 | -221,277 |
| 1987 | 1,004,017 | 854,288 | -149,730 |
| 1988 | 1,064,417 | 854,288 | -155,178 |
| 1989 | 1,143,744 | 991,105 | -152,639 |
| 1990 | 1,252,994 | 1,031,958 | -221,036 |
| 1991 | 1,324,226 | 1,054,988 | -269,238 |
| 1992 | 1,381,529 | 1,091,208 | -290,321 |
| 1993 | 1,409,386 | 1,154,335 | -255,051 |
| 1994 | 1,461,753 | 1,258,566 | -203,186 |
| 1995 | 1,515,742 | 1,351,790 | -163,392 |
| 1996 | 1,560,484 | 1,453,053 | -107,431 |
| 1997 | 1,601,116 | 1,579,232 | -21,884 |
| 1998 | 1,652,458 | 1,721,728 | 69,270 |
| 1999 | 1,701,842 | 1,827,452 | 125,610 |
| 2000 | 1,788,950 | 2,025,191 | 236,241 |
| 2001 | 1,862,846 | 1,991,082 | 128,236 |
| 2002 | 2,010,894 | 1,853,136 | -157,758 |
| 2003 | 2,159,899 | 1,782,314 | -377,585 |
| 2004 | 2,292,841 | 1,880,114 | -412,727 |
| 2005 | 2,471,957 | 2,153,611 | -318,346 |
| 2006 | 2,655,050 | 2,406,869 | -248,181 |
| 2007 | 2,728,686 | 2,567,985 | -160,701 |
| 2008 | 2,982,544 | 2,523,991 | -458,553 |
| 2009 | 3,517,677 | 2,104,989 | -1,412,688 |
| 2010 | 3,456,213 | 2,162,724 | -1,293,489 |
FINANCIAL MANAGEMENT SERVICE
STAR – TREASURY FINANCIAL DATABASE
TABLE 1. SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)
ACCOUNTING DATE: 06/11
PERIOD RECEIPTS OUTLAYS DEFICIT/SURPLUS (-)
+ ____________________________________________________________ _____________________ _____________________ _____________________
PRIOR YEAR
OCTOBER 135,293 311,656 176,363
NOVEMBER 133,563 253,850 120,287
DECEMBER 218,919 310,329 91,410
JANUARY 205,239 247,873 42,634
FEBRUARY 107,520 328,429 220,909
MARCH 153,358 218,745 65,387
APRIL 245,260 327,950 82,689
MAY 146,794 282,721 135,927
JUNE 251,048 319,470 68,422
JULY 155,546 320,588 165,043
AUGUST 163,998 254,524 90,526
SEPTEMBER 245,207 279,813 34,607
YEAR-TO-DATE 2,161,746 3,455,949 1,294,204
CURRENT YEAR
OCTOBER 145,951 286,384 140,432
NOVEMBER 148,970 299,364 150,394
DECEMBER 236,875 315,009 78,134
JANUARY 226,550 276,346 49,796
FEBRUARY 110,656 333,163 222,507
MARCH 150,894 339,047 188,153
APRIL 289,543 329,929 40,387
MAY 174,936 232,577 57,641
JUNE 249,658 292,738 43,080
YEAR-TO-DATE 1,734,033 2,704,557 970,524
http://www.fms.treas.gov/mts/mts0611.txt
U.S. Federal Government Budget Receipts and Outlays
Totals Include On-Budget and Off-Budget Amounts
From Coolidge To Obama, In Billions of Dollars
| Total Budget | Percent of G.D.P. | |||||||
| President | Fiscal Year |
Receipts | Outlays | Surplus orDeficits | G.D.P. | Receipts | Outlays | Surplus orDeficit |
|---|---|---|---|---|---|---|---|---|
| Calvin Coolidge | 1930 | 4.1 | 3.3 | 0.7 | 97.4 | 4.2 | 3.4 | .8 |
| Herbert Hoover | 1931 | 3.1 | 3.6 | -0.5 | 83.9 | 3.7 | 4.3 | -0.6 |
| 1932 | 1.9 | 4.7 | -2.7 | 67.6 | 2.8 | 6.9 | -4.9 | |
| 1933 | 2.0 | 4.6 | -2.6 | 57.6 | 3.5 | 8.0 | -4.5 | |
| F.D.Roosevelt | 1934 | 3.0 | 6.5 | -3.6 | 61.2 | 4.8 | 10.7 | -5.9 |
| 1935 | 3.6 | 6.4 | -2.8 | 69.6 | 5.2 | 9.2 | -4.0 | |
| 1936 | 3.9 | 8.2 | -4.3 | 78.5 | 5.0 | 10.5 | -5.5 | |
| 1937 | 5.4 | 7.6 | -2.2 | 87.8 | 6.1 | 8.6 | -2.5 | |
| 1938 | 6.8 | 6.8 | -0.1 | 89.0 | 7.6 | 7.7 | -0.1 | |
| 1939 | 6.3 | 9.1 | -2.8 | 89.1 | 7.1 | 10.3 | -3.2 | |
| 1940 | 6.5 | 9.5 | -2.9 | 96.8 | 6.8 | 9.8 | -3.0 | |
| 1941 | 8.7 | 13.7 | -4.9 | 114.1 | 7.6 | 12.0 | -4.3 | |
| 1942 | 14.6 | 35.1 | -20.5 | 144.3 | 10.1 | 24.3 | -14.2 | |
| 1943 | 24.0 | 78.6 | -54.6 | 180.3 | 13.3 | 43.6 | -30.3 | |
| 1944 | 43.7 | 91.3 | -47.6 | 209.2 | 20.9 | 43.6 | -22.7 | |
| 1945 | 45.2 | 92.7 | -47.6 | 221.4 | 20.4 | 41.9 | -21.5 | |
| 1946 | 39.3 | 55.2 | -15.9 | 222.6 | 17.7 | 24.8 | -7.2 | |
| Harry S.Truman | 1947 | 38.5 | 34.5 | 4.0 | 233.2 | 16.5 | 14.8 | 1.7 |
| 1948 | 41.6 | 29.8 | 11.8 | 256.6 | 16.2 | 6.9 | 4.6 | |
| 1949 | 39.4 | 38.8 | 0.6 | 271.3 | 14.5 | 14.3 | 0.2 | |
| 1950 | 39.4 | 38.8 | 0.6 | 273.1 | 14.4 | 15.6 | -1.1 | |
| 1951 | 51.6 | 45.5 | 6.1 | 320.2 | 16.1 | 14.2 | 1.9 | |
| 1952 | 66.2 | 67.7 | -1.5 | 348.7 | 19.0 | 19.4 | -0.3 | |
| 1953 | 60.7 | 70.9 | -6.5 | 372.5 | 18.7 | 20.4 | -1.7 | |
| D.D.Eisenhower | 1954 | 69.7 | 70.9 | -1.2 | 377.0 | 18.5 | 18.8 | -0.3 |
| 1955 | 65.5 | 68.4 | -3.07 | 395.9 | 16.5 | 17.3 | -.8 | |
| 1956 | 74.6 | 70.6 | 3.9 | 427.0 | 17.5 | 16.5 | 0.9 | |
| 1957 | 80.0 | 76.6 | 3.4 | 450.9 | 17.7 | 17.0 | 0.8 | |
| 1958 | 79.6 | 82.4 | -2.8 | 460.0 | 17.3 | 17.9 | -0.6 | |
| 1959 | 79.2 | 92.1 | -12.8 | 490.2 | 16.2 | 18.8 | -2.6 | |
| 1960 | 92.5 | 92.2 | 0.3 | 518.9 | 17.8 | 17.8 | 0.1 | |
| 1961 | 94.4 | 97.7 | -3.3 | 529.9 | 17.8 | 18.4 | -1.3 | |
| John F.Kennedy | 1962 | 99.7 | 106.8 | -4.8 | 567.8 | 17.6 | 18.8 | -1.3 |
| 1963 | 106.6 | 111.3 | -4.8 | 599.2 | 17.8 | 18.4 | -0.6 | |
| Lyndon B.Johnson | 1964 | 112.6 | 118.5 | -5.9 | 641.5 | 17.6 | 18.5 | -0.9 |
| 1965 | 116.8 | 118.2 | -1.4 | 687.5 | 17.0 | 17.2 | -0.2 | |
| 1966 | 130.8 | 134.5 | -3.7 | 755.8 | 17.3 | 17.8 | -0.5 | |
| 1967 | 148.8 | 157.5 | -8.6 | 810.0 | 18.4 | 19.4 | -1.1 | |
| 1968 | 153.0 | 178.1 | -25.2 | 868.4 | 17.6 | 20.5 | -2.9 | |
| 1969 | 186.9 | 183.6 | 3.2 | 948.1 | 19.7 | 19.4 | -0.3 | |
| Richard N.Nixon | 1970 | 192.8 | 195.6 | -2.8 | 1,012.7 | 19.0 | 19.3 | -0.3 |
| 1971 | 187.1 | 210.2 | -23.0 | 1,080.0 | 17.3 | 19.5 | -2.1 | |
| 1972 | 207.3 | 230.7 | -23.4 | 1,176.5 | 17.6 | 19.6 | -2.0 | |
| 1973 | 230.8 | 245.7 | -14.9 | 1,310.6 | 17.6 | 18.7 | -1.1 | |
| 1974 | 263.2 | 269.4 | -6.1 | 1,438.5 | 18.3 | 18.7 | -0.4 | |
| Gerald R.Ford | 1975 | 279.1 | 332.3 | -53.2 | 1,560.2 | 17.9 | 21.3 | -3.4 |
| 1976 | 298.1 | 371.8 | -73.7 | 1,738.16 | 17.1 | 21.4 | -4.2 | |
| TQ | 81.2 | 96.0 | -14.7 | 459.4 | 17.7 | 20.0 | -3.2 | |
| 1977 | 355.6 | 409.2 | -53.7 | 1,973.5 | 18.0 | 20.7 | -2.7 | |
| Jimmy Carter | 1978 | 399.6 | 458.7 | -59.2 | 2,217.5 | 18.0 | 20.7 | -2.7 |
| 1979 | 463.3 | 504.0 | -40.7 | 2,501.4 | 18.5 | 20.1 | -1.6 | |
| 1980 | 517.1 | 590.9 | -73.8 | 2,724.2 | 19.0 | 21.7 | -2.7 | |
| 1981 | 599.3 | 678.2 | -79.0 | 3,057.0 | 19.6 | 22.2 | -2.6 | |
| Ronald Reagan | 1982 | 617.8 | 745.7 | -128.0 | 3,223.7 | 19.2 | 23.1 | -4.0 |
| 1983 | 600.6 | 808.4 | -207.8 | 3,440.7 | 17.5 | 23.5 | -6.0 | |
| 1984 | 666.4 | 851.8 | -185.4 | 3,844.4 | 17.3 | 22.2 | -4.8 | |
| 1985 | 734.0 | 946.3 | -212.3 | 4,146.3 | 17.7 | 22.8 | -5.1 | |
| Ronald Reagan | 1986 | 769.2 | 990.4 | -212.2 | 4,403.9 | 17.5 | 22.5 | -4.9 |
| 1987 | 854.3 | 1,004.0 | -149.7 | 4,651.4 | 18.4 | 21.6 | -3.2 | |
| 1988 | 909.2 | 1,064.4 | -155.2 | 5,008.5 | 18.2 | 21.3 | -3.0 | |
| 1989 | 991.1 | 1,143.7 | -152.6 | 5,399.5 | 18.4 | 21.2 | -4.9 | |
| George H.W.Bush | 1990 | 1,032.0 | 1,253.0 | -221.0 | 5,734.5 | 18.0 | 21.9 | -3.9 |
| 1991 | 1,055.0 | 1,324.2 | -269.2 | 5,930.5 | 17.8 | 22.3 | -4.5 | |
| 1992 | 1,091.2 | 1,381.5 | -290.3 | 6,242.0 | 17.5 | 22.1 | -4.7 | |
| 1993 | 1,154.3 | 1,409.4 | -255.1 | 6,587.3 | 17.5 | 21.4 | -3.9 | |
| William J. Clinton | 1994 | 1,258.6 | 1,461.8 | -203.2 | 6,976.6 | 2.8 | 6.9 | -4.9 |
| 1995 | 1,351.8 | 1,515.8 | -164.0 | 7,341.1 | 18.4 | 20.6 | -2.2 | |
| 1996 | 1,453.1 | 1,560.5 | -107.4 | 7,718.3 | 18.8 | 20.2 | -1.4 | |
| 1997 | 1,579.2 | 1,601.1 | -21.9 | 8,211.7 | 19.2 | 19.5 | -0.3 | |
| William J. Clinton | 1998 | 1,721.7 | 1,652.5 | 69.3 | 67.6 | 19.9 | 19.1 | 0.8 |
| 1999 | 1,827.5 | 1,701.8 | 125.6 | 9,208.4 | 19.8 | 18.5 | 1.4 | |
| 2000 | 2,025.2 | 1,789.0 | 236.2 | 9,821.0 | 20.6 | 18.2 | 2.4 | |
| 2001 | 1,991.1 | 1,862.9 | 128.2 | 10,225.3 | 19.5 | 18.2 | 1.3 | |
| George W.Bush | 2002 | 1,853.1 | 2,010.9 | -157.8 | 10,543.9 | 17.6 | 19.1 | -1.5 |
| 2003 | 1,782.3 | 2,159.9 | -377.6 | 10,979.8 | 16.2 | 19.7 | -3.4 | |
| 2004 | 1,880.1 | 2,292.9 | -412.7 | 11,685.6 | 16.1 | 19.6 | -3.5 | |
| 2005 | 2,153.6 | 2,472.0 | -318.3 | 12,445.7 | 17.3 | 19.9 | -2.6 | |
| George W.Bush | 2006 | 2,406.0 | 2,655.1 | -248.2 | 13,224.9 | 18.2 | 20.1 | -1.9 |
| 2007 | 2,568.0 | 2,728.7 | -160.7 | 13,896.0 | 18.5 | 19.6 | -1.2 | |
| 2008 | 2,524.0 | 2,982.6 | -458.6 | 14,439.0 | 17.5 | 20.7 | -3.2 | |
| 2009 | 2,105.0 | 3,517.7 | -1,412.7 | 14,237.2 | 14.8 | 24.7 | -9.9 | |
| Barack H.Obama | 2010 | 2,165.1 | 3,720.7 | -1,555.6 | 14,623.9 | 14.8 | 25.4 | -10.6 |
| estimates | 2011 | 2,567.2 | 3,833.9 | -1,266.7 | 15,299.0 | 16.8 | 25.1 | -8.3 |
| estimates | 2012 | 2,926.4 | 3,754.9 | -828.5 | 16,203.3 | 18.1 | 23.2 | -5.1 |
Prior to fiscal year 1977 the Federal fiscal years began on July 1 and ended on June 30. For example, John F. Kennedy assumed office on January 20, 1961, but the FY 1961 budget was prepared by the Eisenhower Administration.
In calendar year 1976 the July-September period was a separate accounting period (known as the transition quarter or TQ) to bridge the period required to shift to the new fiscal year.
The Fiscal Year begins on October 1 of the previous year. For example, Fiscal Year 2012 begins on October 1, 2011. For this reason, budget years appear to not correspond with a president’s administration. For example, Barack H. Obama took office in January 2009, but the FY 2009 budget was prepared by the Bush Administration.
President Obama Lies and Scares People On Social Security–Stop Spending and Balance The Budget!–Videos
Pronk Pops Show 37:July 20, 2011
Pronk Pops Show 36:July 13, 2011
Pronk Pops Show 35:July 6, 2011
Pronk Pops Show 34:June 29, 2011
Listen To Pronk Pops Podcast or Download Shows 34-37
Listen To Pronk Pops Podcast or Download Shows 30-33
Listen To Pronk Pops Podcast or Download Shows 27-29
Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26
Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)
Listen To Pronk Pops Podcast or Download Shows 10-15
Listen To Pronk Pops Podcast or Download Shows 1-9
U.S. Debt Clock
http://www.usdebtclock.org/
The CBS Evening News w…: Obama “cannot guarantee” social security
Obama blames Congress for stalling debt talks
Peter Schiff 2011 : US debt ceiling talks in deadlock
Pres Obama “I Cannot Guarantee Social Security Checks Go Out On August 3rd” If Issue Not Resolved
Steve Wynn Speaks The Truth About Obama
Steve Wynn on Inflation & Economic Crisis
3 Reasons Why The Debt-Ceiling Debate is Full of Malarkey
Peter Schiff on Lou Dobbs Tonight 71211 Fox Business Channel
Bachmann: I call on Obama to “tell the truth”
Ron Paul: Obama Using Scare Tactics to Force Deal on Debt Limit
Ron Paul On Raising the Debt Ceiling
1 FINANCIAL MANAGEMENT SERVICE
STAR – TREASURY FINANCIAL DATABASE
TABLE 1. SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)
ACCOUNTING DATE: 06/11
PERIOD RECEIPTS OUTLAYS DEFICIT/SURPLUS (-)
+ ____________________________________________________________ _____________________ _____________________ _____________________
PRIOR YEAR
OCTOBER 135,293 311,656 176,363
NOVEMBER 133,563 253,850 120,287
DECEMBER 218,919 310,329 91,410
JANUARY 205,239 247,873 42,634
FEBRUARY 107,520 328,429 220,909
MARCH 153,358 218,745 65,387
APRIL 245,260 327,950 82,689
MAY 146,794 282,721 135,927
JUNE 251,048 319,470 68,422
JULY 155,546 320,588 165,043
AUGUST 163,998 254,524 90,526
SEPTEMBER 245,207 279,813 34,607
YEAR-TO-DATE 2,161,746 3,455,949 1,294,204
CURRENT YEAR
OCTOBER 145,951 286,384 140,432
NOVEMBER 148,970 299,364 150,394
DECEMBER 236,875 315,009 78,134
JANUARY 226,550 276,346 49,796
FEBRUARY 110,656 333,163 222,507
MARCH 150,894 339,047 188,153
APRIL 289,543 329,929 40,387
MAY 174,936 232,577 57,641
JUNE 249,658 292,738 43,080
YEAR-TO-DATE 1,734,033 2,704,557 970,524
http://www.fms.treas.gov/mts/mts0611.txt
Interest Expense on the Debt Outstanding
The Interest Expense on the Debt Outstanding includes the monthly interest for:
- U.S. Treasury notes and bonds
- Foreign and domestic series certificates of indebtedness, notes and bonds
- Savings bonds
- Government Account Series (GAS)
- State and Local Government series (SLGs) and other special purpose securities.
Amortized discount or premium on bills, notes and bonds is also included in the monthly interest expense.
The fiscal year represents the total interest expense on the Debt Outstanding for a given fiscal year. This includes the months of October through September. View current month details (XLS Format, File size 142KB, uploaded 07/07/2011).
| Interest Expense Fiscal Year 2011 | |
|---|---|
| June | $110,536,850,221.63 |
| May | $30,858,726,707.77 |
| April | $28,895,123,159.28 |
| March | $24,460,282,823.69 |
| February | $21,759,253,957.26 |
| January | $21,122,729,715.18 |
| December | $104,700,174,845.03 |
| November | $19,396,316,137.56 |
| October | $24,142,491,931.22 |
| Fiscal Year Total | $385,871,949,498.62 |
| Available Historical Data Fiscal Year End | |
|---|---|
| 2010 | $413,954,825,362.17 |
| 2009 | $383,071,060,815.42 |
| 2008 | $451,154,049,950.63 |
| 2007 | $429,977,998,108.20 |
| 2006 | $405,872,109,315.83 |
| 2005 | $352,350,252,507.90 |
| 2004 | $321,566,323,971.29 |
| 2003 | $318,148,529,151.51 |
| 2002 | $332,536,958,599.42 |
| 2001 | $359,507,635,242.41 |
| 2000 | $361,997,734,302.36 |
| 1999 | $353,511,471,722.87 |
| 1998 | $363,823,722,920.26 |
| 1997 | $355,795,834,214.66 |
| 1996 | $343,955,076,695.15 |
| 1995 | $332,413,555,030.62 |
| 1994 | $296,277,764,246.26 |
| 1993 | $292,502,219,484.25 |
| 1992 | $292,361,073,070.74 |
| 1991 | $286,021,921,181.04 |
| 1990 | $264,852,544,615.90 |
| 1989 | $240,863,231,535.71 |
| 1988 | $214,145,028,847.73 |
http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
Suggest the President read this report.
President Obama is lying as are the major networks in repeatedly telling the American people the United States will default on its debt if the National debt ceiling is not increased.
This is simply not true and is a lie.
Interest on the national debt is less than 10% of total tax revenues.
There is more than enough money being paid into to the United States Department of the Treasury each month to pay the interest on the national debt as well as pay out all Social Security and disability checks.
Suggest the President start closing down and terminating employees in the bloated Federal bureaucracy.
Alternatively cut Federal Government spending across the board by 25%!
The President simply does not want to decrease Federal spending or outlays and instead wants to increase taxes.
The American people want Federal Government to be cut and the Federal Government’s budget to be balanced.
Stop spending and balance the budget Mr. President.
Otherwise you will be replaced.
Background Articles and Videos
Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call
Joe Weisenthal
“…And I’m saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.
You bet and until we change the tempo and the conversation from Washington, it’s not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don’t want to say that. They’ll say, God, don’t be attacking Obama. Well, this is Obama’s deal and it’s Obama that’s responsible for this fear in America.
The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don’t invest, their holding too much money. We haven’t heard that kind of talk except from pure socialists. Everybody’s afraid of the government and there’s no need soft peddling it, it’s the truth. It is the truth. And that’s true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I’m telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs. …”
Read more: http://www.businessinsider.com/wynn-ceo-steve-wynn-conference-call-transcript-obama-2011-7#ixzz1SViTY7HK
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It’s Time For A Permanent, Prevasive and Predictable Stimulus Package–The FairTax–Launching A Peace and Prosperity Economy–Videos
The Problem
The Warfare and Welfare Economy With
Temporary,Targeted and Timely Stimulus Packages
The Road Ahead: Unemployment, Poverty and the Recession
The predictions in the above videos were off by two years.
The predictions for 2010 are now the predictions of many for 2012.
The Great Stimulus Debate: What You Need To Know About How Will The Stimulus Will Affect Our Economy
“…A fact-based look at how the Economic Stimulus will affect our economy. Because this stimulus was poorly designed, it will not be timely enough to help, it targets the wrong sectors, and it will be anything but temporary. It will lead to higher debts and lower long-term GDP, which hurts you, your children and rewards political special interests. It is time to hold politicians accountable for creating this mess and failing to fix it. …”
Massive unemployment could lead to riots says Dr. Brzezinski
END FED: Keiser Explains How Fed-Banks Create Revolutions & Genocide; Speculation, Food-Oil Prices
Updated 01.12.11 – The Decline: The Geography of a Recession by LaToya Egwuekwe (OFFICIAL)
According to the U.S. Department of Labor’s Bureau of Labor Statistics, there are nearly 31 million people currently unemployed — that’s including those involuntarily working part time and those who want a job, but have given up on trying to find one. In the face of the worst economic upheaval since the Great Depression, millions of Americans are hurting. “The Decline: The Geography of a Recession,” as created by labor writer LaToya Egwuekwe, serves as a vivid representation of just how much. Watch the deteriorating transformation of the U.S. economy from January 2007 — approximately one year before the start of the recession — to the most recent unemployment data available today. Original link: http://www.latoyaegwuekwe.com/geographyofarecession.html. For more information, email latoya.egwuekwe@yahoo.com
Gerald Celente on The Peter Schiff Show 14 Apr 2011
Trend Prophet Forecasts Food Riots For US by 2012
Our Troubling Tax System
The Solution
Launch The Peace and Prosperity Economy
With A Premanent, Pervasive and Predictable Stimulus Package
The FairTax: It’s Time
What is the FairTax legislation?
Mike Huckabee – What is the “Fair Tax?”
Lugar Cosponsors the FairTax
Marco Rubio on the FairTax
HERMAN CAIN ON “FAIR TAX” 110611
Herman Cain Discusses Fair Tax with Neil Cavuto
Ron Paul On Taxes
Ron Paul on Taxes
Ron Paul – THE FAIRTAX REVOLUTION
Bachmann Reacts to Obama’s Call to Raise Taxes
Tax Rates are High Enough Already
What Are Taxes For? PJTV Goes to The Hill to Get Answers From Bachmann, Price, Jordan & Others
The Fair Tax
The Fair Tax Explained
Fair Tax… explained by a 17 year old
Support the FairTax
My FAIRTAX Story_Paul Wizikowski
Taylor discusses the economy with Tom Keene on Bloomberg TV
“…John Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, discusses economics, finance, QE2, taxes, and investments with Tom Keene on Bloomberg TV. …”
No, A Bigger Stimulus Would Not Have Worked Either
By JOHN B. TAYLOR
“…For these reasons I argued in the November 2008 article which Krugman cites that a better fiscal policy would be to rely on the automatic stabilizers and enact more permanent reductions in tax rates (or at least pledge not to increase tax rates in a recession).
As early as the summer of 2009 it was clear that ARRA was not working as intended, as John Cogan, Volker Wieland and I reported. Research since then has uncovered the reasons why. One reason is that very large stimulus grants to the states did not go to infrastructure spending as intended, and that’s what Ned Gramlich found out about Keynesian stimulus packages thirty years ago.
Why Permanent Tax Cuts Are the Best Stimulus
Short-term fiscal policies fail to promote long-term growth.
By JOHN B. TAYLOR
“…What are the implications for a second stimulus early next year? The mantra often heard during debates about the first stimulus was that it should be temporary, targeted and timely. Clearly, that mantra must be replaced. In testimony before the Senate Budget Committee on Nov. 19, I recommended alternative principles: permanent, pervasive and predictable.
- Permanent. The most obvious lesson learned from the first stimulus is that temporary is not a principle to follow if you want to get the economy moving again. Rather than one- or two-year packages, we should be looking for permanent fiscal changes that turn the economy around in a lasting way.
- Pervasive. One argument in favor of “targeting” the first stimulus package was that, by focusing on people who might consume more, the impact would be larger. But the stimulus was ineffective with such targeting. Moreover, targeting implied that increased tax rates, as currently scheduled, will not be a drag on the economy as long as increased payments to the targeted groups are larger than the higher taxes paid by others. But increasing tax rates on businesses or on investments in the current weak economy would increase unemployment and further weaken the economy. Better to seek an across-the-board approach where both employers and employees benefit.
- Predictable. While timeliness is an admirable attribute, it is only one property of good fiscal policy. More important is that policy should be clear and understandable — that is, predictable — so that individuals and firms know what to expect. …”
http://online.wsj.com/article/SB122757149157954723.html
Vote only for candidates for public office that support the FairTax.
Vote out of office those polticians who continue to support Federal income and payroll taxes.
No exceptions.
Demand that the FairTax be implemented and go into operation starting January 2012.
Only vote for that presidential candidate that clearly supports the FairTax and repeal of the tewnty-sixth amendment that gave us the income tax.
Background Articles and Videos
An Argument for the Fair Tax
Gerald Celente- Jeff Rense Radio – 14 July 2011
Roskam to Fox News: Our National Debt is Dragging Down the Economy
Economy: The Worst Yet to Come?
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Real Hope–Real Change–Ron Paul–The Peace and Prosperity Constitutional Candidate For President of The United States in 2012
Ron Paul Official Campaign Ad: Conviction
Ron Paul On FOX: His New Ad And Opposing Raising Debt Limit
Ron Paul 2012 – Can you Hear us Now? Join the 2012 Revolution.
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Trickle Down Economics–Obama’s Theme Song–Cry Baby–Sung By The Late Janis Joplin–Videos
Janis Joplin – Cry Baby
“Cry baby, cry baby, cry baby,
Honey, welcome back home.
I know she told you,
Honey I know she told you that she loved you
Much more than I did,
But all I know is that she left you,
And you swear that you just don’t know why,
But you know, honey I’ll always,
I’ll always be around if you ever want me
Come on and cry, cry baby, cry baby, cry baby,
Oh honey, welcome back home.
Don’t you know, honey,
Ain’t nobody ever gonna love you
The way I try to do ?
Who’ll take all your pain,
Honey, your heartache, too ?
And if you need me, you know
That I’ll always be around if you ever want me
Come on and cry, cry baby, cry baby, cry baby,
Oh daddy, like you always seem to do.
And when you walk around the world, babe,
You said you’d try to look for the end of the road,
You might find out later that the road’ll end in Detroit,
Honey, the road’ll even end in Kathmandu.
You can go all around the world
Trying to find something to do with your life, baby,
When you only gotta do one thing well,
You only gotta do one thing well to make it in this world, babe.
You got a woman waiting for you there,
All you ever gotta do is be a good man one time to one woman
And that’ll be the end of the road, babe,
I know you got more tears to share, babe,
So come on, come on, come on, come on, come on,
And cry, cry baby, cry baby, cry baby.
And if you ever feel a little lonely, dear,
I want you to come on, come on to your mama now,
And if you ever want a little love of a woman
Come on and baby baby baby babe babe baby now
Cry baby yeah.”
Hannity – I Think President Cry Baby Is Capable Of Anything At This Point
Big Baby Obama: “They Talk About Me Like a Dog”
Obama Lashes out, Scolds Republicans, Mocks Cable Chatter, and Bush over Stimulus Plan, Bill
Ann Coulter “Obama is a thin-skinned crybaby”
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Ron Paul won’t seek re election for Congress–Why? Can You Say–President Ron Paul–Vote For A Committed and Principled Constitutionalist–The Peace and Prosperity Candidate For President–Ron Paul–Videos
Ron Paul on Freedom Watch 07/13/11
Ron Paul is all in
Ron Paul won’t seek re election for Congress
YouTube BREAKING Ron Paul Sacrificing Congressional Seat, Tom Woods Responds
Ron Paul: U.S. Government Is Defaulting on the Average American All the Time
Ron Paul: The Power Elite Is Scared and Won’t Go Away Quietly
The Amazingly Accurate Predictions of Ron Paul
Ron Paul: America on the Road to Serfdom
Ron Paul: Privatize Airport Security
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Fn Five-Seven pistol–Videos
Fn Five-Seven pistol: Long Range Firepower, Part 1
Fn Five-Seven pistol: Long Range Firepower, Part 2
Fn Five-Seven pistol: Long Range Firepower, Part 3
Fn Five-Seven pistol: Long Range Firepower, Part 4
FN Five-seveN Review
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War On Drugs–War On American People and Their Right To Own Guns–Videos
War on Drugs: The Globalists Biggest Ponzi Scheme of All Time! – Alex Jones Sunday Edition 1/2
War on Drugs: The Globalists Biggest Ponzi Scheme of All Time! – Alex Jones Sunday Edition 2/2
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Nick Gillespie and Matt Welch–The Declaration of Independents–Videos
Reason’s Nick Gillespie and Matt Welch Present The Declaration of Independents
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