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

Posted on July 30, 2011. Filed under: Blogroll, Communications, Computers, Foreign Policy, government, Inflation, Investments, Language, Law, liberty, People, Philosophy, Politics, Rants, Raves, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , |

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!

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Fiscally Responsible Republicans Number Only 22 In The House of Representatives–Time For The Fiscal Responsibility Pledge– Videos

Posted on July 29, 2011. Filed under: Banking, Blogroll, Business, Communications, Economics, Federal Government, Fiscal Policy, government, government spending, Language, Law, liberty, Links, media, Microeconomics, Monetary Policy, People, Philosophy, Politics, Public Sector, Rants, Raves, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , |

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

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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

Posted on July 29, 2011. Filed under: American History, Banking, Blogroll, College, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Homes, Investments, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Strategy, Taxes, Unions, Video, Wealth, Wisdom | Tags: , , , , , , , , |

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)

Series Id:     CES0000000001Seasonally AdjustedSuper Sector:  Total nonfarmIndustry:      Total nonfarmNAICS 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)              
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

Related Post On Pronk Palisades

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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

Posted on July 29, 2011. Filed under: Banking, Blogroll, Books, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Inflation, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, People, Philosophy, Politics, Public Sector, Rants, Raves, Talk Radio, Taxes, Transportation, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , |

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

 

Current Numbers:

  • 2nd quarter 2011: 1.3 percent
  • 1st quarter 2011: 0.4 percent
Quarterly data: 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.
 
 
 

 

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

 

Index = Unemployment rate + Inflation rate
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

 

 

National Income and Product Accounts
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 1-38, Podcasts and Download–Give It A Listen–Videos

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Raymond Thomas Pronk’s Podcasts

Pronk Pops Show 38:July 27, 2011

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Pronk Pops Show 38

July 27, 2011 03:17 PM PDT

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

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/27/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-ceil/

Segment 1: It’s Time For A Permanent, Prevasive and Predictable Stimulus Package–The FairTax–Launching A Peace and Prosperity Economy–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/27/pronk-pops-show-38-july-27-2011-segment-1-segment-1-it%E2%80%99s-time-for-a-permanent-prevasive-and-predictable-stimulus-package%E2%80%93the-fairtax%E2%80%93launching-a-peace-and-prosperity-econ/

Pronk Pops Show 37

July 21, 2011 03:44 PM PDT

Pronk Pops Show 37, July 21, 2011, Part 1

Segment 0: President Obama Lies and Scares People On Social Security–Stop Spending and Balance The Budget!–Videos

For Additional Information and Videos

http://pronkpops.wordpress.com/2011/07/18/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

For Additional Information and Videos

http://pronkpops.wordpress.com/2011/07/18/pronk-pops-show-37-july-20-2011-segment-1-the-american-people%E2%80%99s-solution-to-economic-stagnation-increase-national-debt-ceiling-by-2000-billion-to-16300-billion-in-exchange-for-passage/

Part 2 Segments 2, 3 and 4 will be broadcast next Wednesday, July 27, 2011 from 3-5pm and posted on Thursday, July 28, 2011

Pronk Pops Show 36

July 13, 2011 04:23 PM PDT

Pronk Pops Show 36, July 13, 2011

Segment 0: Lipstick On A Pig–Great Obama Depression– Deeper and Longer–Official U-3 Unemployment Rate Hits 9.2% In June 2011 With 14 Million Unemployed and Total Unemployment Rate U-6 Hits 16.2% With Over 24.8 Million Americans Seeking Full Time Job–Obama Is Not Working–2012–End An Error!–Fire Obama–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/12/pronk-pops-show-36-july-13-2011-segment-0-lipstick-on-a-pig-great-obama-depression-deeper-and-longer-official-u-3-unemployment-rate-hits-9-2-in-june-2011-with-14-million-unemployed-and-total-u/?preview=true&preview_id=1359&preview_nonce=35f48d29ca

Segment 1: Gretchen Morgenson & Joshua Rosner–Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led To Economic Armageddon–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/12/pronk-pops-show-36-july-13-2011-segment-1-gretchen-morgenson-joshua-rosner-reckless-endangerment-how-outsized-ambition-greed-and-corruption-led-to-economic-armageddon-videos/?preview=true&preview_id=1370&preview_nonce=a92ff3f2ca

Segment 2: Jim Rogers, Peter Schiff, Marc Farber and Ron Paul On The National Debt Ceiling and Balancing The Budget–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/12/pronk-pops-show-36-july-3-2011-segment-2-ron-paul-on-the-national-debt-ceiling-and-balancing-the-budget-videos/?preview=true&preview_id=1377&preview_nonce=51b47fd93e

Segment 3: 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

For additional information and videos:

http://pronkpops.wordpress.com/2011/07/12/pronk-pops-show-36-july-13-2011-segment-3-obamas-gungate-operation-fast-and-furious-arming-mexican-drug-cartels-and-criminals-killing-american-and-mexican-citizens-a-pretext-for-the-ultimate/?preview=true&preview_id=1366&preview_nonce=811986bc80

Segment 4: 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

For additional information and videos:
http://pronkpops.wordpress.com/2011/07/13/pronk-pops-show-36-july-13-2011-segment-4-ron-paul-won%E2%80%99t-seek-re-election-for-congress%E2%80%93why-can-you-say%E2%80%93president-ron-paul%E2%80%93vote-for-a-committed-and-principled-const/?preview=true&preview_id=1406&preview_nonce=16c661faf2

Pronk Pops Show 35

July 06, 2011 03:44 PM PDT

Pronk Pops Show 35, July 6, 2015

Segment 0: The Meaning of Independence Day–Videos

For additional information and Videos:

http://pronkpops.wordpress.com/2011/07/06/pronk-pops-show-35-july-6-2011-segment-0-the-meaning-of-independence-day-videos/?preview=true&preview_id=1327&preview_nonce=d099da9d31

Segment 1: The Legal Standard In A Murder Case: Prove It Beyond A Reasonable Doubt–Suspicion And Opinion Is Not Enough–Casey Anthony Murder Case–Not Guilty–Videos

For additional information and Videos:

http://pronkpops.wordpress.com/2011/07/06/pronk-pops-show-35-july-5-2011-segment-1-the-legal-standard-in-a-murder-case-prove-it-beyond-a-reasonable-doubt-suspicion-and-opinion-is-not-enough-casey-anthony-murder-case-not-quilty-videos/

Segment 2: George Bureau of Investigations Finds Atlanta School Teachers and Principals Cheating Scandal:Raised Students Scores On Tests –Government Corrupt Schools–

For additional information and Videos:

http://pronkpops.wordpress.com/2011/07/06/pronk-pops-show-35-july-6-2011-segment-2-george-bureau-of-investigations-finds-atlanta-school-teachers-and-principals-cheating-scandalraised-students-scores-on-tests-government-corrupt-schools/

Segment 3: Obama’s Marxist Class Warfare On Millionaires and Billionaires–Tax The Job Creators–President’s Unbalanced Budget Would Result In A Big $1,100 Billion Deficit In Fiscal Year 2012–This Is Obama’s So-Called Balanced Approach–Obama Is Not Working–Fire Obama Right Now!–Videos

For additional information and Videos:

http://pronkpops.wordpress.com/2011/07/06/pronk-pops-show-35-july-6-2011-segment-3-obamas-marxist-class-warfare-on-millionaires-and-billionaires-tax-the-job-creators-presidents-unbalanced-budget-would-result-in-a-big-1100-billion/

Pronk Pops Show 34

June 29, 2011 03:38 PM PDT

Pronk Pops Show 34, June 29, 2011

Segment 0: Sexist Elitist Chris Wallace Asks Michele Backmann Are You A Flake?–Chris, Are You A Wimp?–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/29/pronk-pops-show-34-june-29-2011-segment-0-sexist-elitist-chris-wallace-asks-michele-backmann-are-you-a-flake-chris-are-you-a-wimp-videos/?preview=true&preview_id=1287&preview_nonce=d47e8281df

Segment 1: Is Ron Paul An Isolationist–No–He Is For Free Trade and A Nonterventionist Foreign Policy–Are The NeoCons Warmongers–Yes–Aggressive Interventionist Foreign Policy–Empire or Nation Building!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/29/pronk-pops-show-34-june-29-2011-segment-1-is-ron-paul-an-isolationist-no-he-is-for-free-trade-and-a-nonterventionist-foreign-policy-are-the-neocons-warmongers-yes-aggressive-interventist-fore/?preview=true&preview_id=1295&preview_nonce=17ff44ad0c

Segment 2: Cut, Cap, And Balance Pledge–The Washington D.C. Howdy Doody Debt Ceiling Show–“Say Kids What Time Is It?”–Howdy Doody Time–Fiscal Year 2020 Balanced Budget Time–Not Serious–Send In The Clowns–There Already There!– Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/29/pronk-pops-show-34-june-29-2011-segment-2-cut-cap-and-balance-pledge-the-washington-d-c-howdy-doody-debt-ceiling-show-say-kids-what-time-is-it-howdy-doody-time-fiscal-year-2020-balance/

Pronk Pops Show 33

June 22, 2011 03:21 PM PDT

Pronk Pops Show 33, June 22, 2011

Segment 0: Jon Huntsman Launches 2012 Candidacy for President At Liberty Park–Should Become A Democrat Like John V. Lindsay And Run Against President Obama in 2012!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/21/pronk-pops-show-june-22-2011-segment-0-jon-huntsman-launches-2012-candidacy-for-president-at-liberty-park%e2%80%93should-become-a-democrat-like-john-v-lindsay-and-run-against-president-obama-in-2/

Segment 1: Republican Candidates For President Romney, Cain, and Johnson Refuse To Sign Pro-Life Citizen’s Pledge–While Sarah Palin’s Trig’s Creator E-Mail Moves Millions–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/21/pronk-pops-show-june-22-2011-segment-1-republican-candidates-for-president-romney-cain-and-johnson-refuse-to-sign-pro-life-citizens-pledge-while-sarah-palins-trigs-creator-e-mail-moves-mi/

Segment 2: Rick Perry/Sarah Palin Republican Establishment Candidate Ticket vs. Ron Paul/Michele Bachmann Republican Constitutional Candidate Ticket for the 2012 Presidential Race–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/22/pronk-pops-show-33-june-22-2011-segment-2-rick-perrysarah-palin-republican-establishment-candidate-ticket-vs-ron-paulmichele-bachmann-republican-constitutional-candidate-ticket-for-the-2012-pr/

Segment 3: The Next President Of The United States Tells Truth To Power At Republican Leadership Conference–Great Speech!

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/22/pronk-pops-show-33-june-22-2011-segment-3-the-next-president-of-the-united-states-tells-truth-to-power-at-republican-leadership-conference-great-speech/

Segment 4: Bloomberg Poll Bad News For Obama–Only 30% Certain They Will Vote For Obama in 2012!–66% Think Country On The Wrong Track!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/22/pronk-pops-show-33-june-22-2011-segment-4-bloomberg-poll-bad-news-for-obama-only-30-certain-they-will-vote-for-obama-in-2012-66-think-country-on-the-wrong-track-videos/

Pronk Pops Show 32

June 15, 2011 03:10 PM PDT

Pronk Pops Show 32, June 15, 2011

Segment 0: Money, Organization, Message, Momentum, Ambition–MOMMA–You Need MOMMA To Win A Presidential Race!–Videos

For Additional Information and Videos:

http://pronkpops.wordpress.com/2011/06/15/pronk-pops-show-32-june-15-2011-segment-0-money-organization-message-momentum-ambition-momma-you-need-momma-to-win-a-presidential-race-videos/?preview=true&preview_id=1173&preview_nonce=d056ccee9f

Segment 1: Republican Presidential Debate In New Hampshire June 13, 2011–American People The Winner–Obama The Loser–Videos

For Additional Information and Videos:

http://pronkpops.wordpress.com/2011/06/15/pronk-pops-show-32-june-15-2011-segment-1-republican-presidential-debate-in-new-hampshire-june-13-2011%E2%80%93american-people-the-winner%E2%80%93obama-the-loser%E2%80%93videos/?preview=true&preview_id=1176&preview_nonce=0196810e90

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

For Additional Information and Videos:

http://pronkpops.wordpress.com/2011/06/15/pronk-pops-show-32-june-15-2011-
segment-2-1-the-issues-unemployment-jobs-2-government-spending-balanced-budgets-3-tax-reform-the-fairtax-4-inflation-end-the-fed-5-wars-bring-the-t/?preview=true&preview_id=1183&preview_nonce=577da72775

Segment 3: Pronk Presidential Prediction–The Winner Is?–The American People!–Videos

For Additional Information and Videos:

http://pronkpops.wordpress.com/2011/06/15/pronk-pops-show-32-june15-2011-segment-3-pronk-presidential-prediction-the-winner-is-the-american-people-videos/?preview=true&preview_id=1169&preview_nonce=52b4648eff

Pronk Pops Show 31

June 08, 2011 03:17 PM PDT

Pronk Pops Show 31: June 8, 2011

Segment 0: ENTJ–Know Thyself–This above all: to thine own self be true–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/08/pronk-pops-show-31-segment-0-entj%E2%80%93know-thyself%E2%80%93this-above-all-to-thine-own-self-be-true%E2%80%93videos/?preview=true&preview_id=1122&preview_nonce=938bb3c129

Segment 1: A Breach of Public Trust–Hound Dogs–Clinton, Weiner, and Obama–Notorious Habitual Liars–Wake Up–Start A Revolution–Ron Paul–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/08/pronk-pops-show-31-segment-1-a-breach-of-public-trust%E2%80%93hound-dogs%E2%80%93clinton-weiner-and-obama%E2%80%93notorious-habitual-liars%E2%80%93wake-up%E2%80%93start-a-revolution%E2%80%93ron-pa/

Segment 2: June 2011–Unemployment Situation Worsens–9.1% Official Unemployment Rate (U-3) with 13,900,000 Unemployed and 15.8% Total Unemployment Rate (U-6) With 24,283,000 Americans Looking For Full Time Jobs!–Great Obama Depression (GOD)!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/08/pronk-pops-show-31-segment-2-june-2011-unemployment-situation-worsens-9-1-official-unemployment-rate-u-3-with-13900000-unemployed-and-15-8-total-unemployment-rate-u-6-with-24283000-america/

Pronk Pops Show 30

June 02, 2011 01:26 PM PDT

Pronk Pops Show, June 2, 2011

Segment 0: The Facebook Effect–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/02/pronk-pops-show-30-june-2-2011-segment-0-the-facebook-effect-videos/

Segment 2: Paul Allen–Idea Man: A Memoir By The Cofounder of Microsoft–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/02/pronk-pops-show-30-june-6-2011-segment-1-paul-allen%E2%80%93idea-man-a-memoir-by-the-cofounder-of-microsoft%E2%80%93videos/

Segment 3: Last Dance For Love–Congress Blocks Debt Limit Hike–For Now–Who Is The Political Class Fooling–Bring The Troops and Jobs Home and Send The Bureaucrats and Big Spenders Home–Save Medicare and Social Security–Hot Stuff–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/06/02/pronk-pops-show-30-june-2-2011-segment-3-last-dance-for-love%E2%80%93congress-blocks-debt-limit-hike%E2%80%93for-now%E2%80%93who-is-the-political-class-fooling%E2%80%93bring-the-troops-and-jobs-ho/

Pronk Pops Show 29

May 26, 2011 01:12 PM PDT

Pronk Pops Show 29, May 26, 2011

Segment 1: Herman Cain–The Tea Party Movement Candidate–Running On Cutting Spending, Opposing Higher Debt Ceiling, Enforcing Immigration Laws, Defunding Planned Parenthood, Nominating Pro Life Judges, And Passing The FairTax–Common Sense Solutions!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/23/pronk-pops-show-29-may-25-2011-segment-1-herman-cain-the-tea-party-movement-candidate-running-on-cutting-spending-opposing-higher-debt-ceiling-enforcing-immigration-laws-defunding-planned-pa/?preview=true&preview_id=1018&preview_nonce=3fac63d9d6

Segment 2: Taxman Obama’s Hidden Tax Increase On The Rich That Results In Fewer Jobs And Lower Economic Growth vs. Ryan’s Long and Winding Road To Economic Stagnation vs. Senators Lee, DeMint and Paul’s Stairway To Peace and Prosperity With A Balanced Budget!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/24/pronk-pops-show-29-may-25-2011-segment-2-taxman-obamas-hidden-tax-increase-on-the-rich-that-results-in-fewer-jobs-and-lower-economic-growth-vs-ryans-long-and-winding-road-to-economic-stagnat/

Segment 3: Israeli Prime Minister Benjamin Netanyahu Addresses Congress–A Lesson In Leadership–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/24/pronk-pops-show-29-may-25-2011-segment-3-israeli-prime-minister-benjamin-netanyahu-addresses-congress-a-lesson-in-leadership-videos/

Segment 4: Memo To Washington Republican Party Establishment–You Are Not Listening To The American People–Read Our Lips–“Cut Spending and Balance The Budget Starting With Fiscal Year 2012″–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/25/pronk-pops-show-29-may-25-2011-segment-4-memo-to-washington-republican-party-establishment-you-are-not-listening-to-the-american-people-read-our-lips-cut-spending-and-balance-the-budget-start/

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

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/18/pronk-pops-show-28-may-18-2011-segment-1-newt-gingrich-running-for-president-as-a-big-govenment-interventionist-republican-progressive-aka-green-compassionate-conservative-favors-individual/

Segment 2: Leave It To Beaver–Newt Gingrich–The Beaver Puppet of The Republican Washington D.C. Establishment Political Class With It Social Engineered Warfare and Welfare Economy with A $3,500 Billion Unbalanced Budget For Fiscal Year 2012 with Nearly $1,000 Billion In Deficit Spending!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/18/pronk-pops-show-28-may-18-2011-segment-2leave-it-to-beaver-newt-gingrich-the-beaver-puppet-of-the-republican-washington-d-c-establishment-political-class-with-it-social-engineered-warfare-and-w/

Segment 3: Ron Paul Running For President Of The United States in 2012–It Is Official–The Third Time Is The Charm!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/18/pronk-pops-show-28-may-28-2011-segment-3-ron-paul-running-for-president-of-the-united-states-in-2012-it-is-official-the-third-time-is-the-charm-videos/

Segment 4: Ron Paul Is Running For President of The United States In 2012!–The Third Time Is The Charm–A Man Of Integrity–A Candidate For Peace and Prosperity–Neither A Big Government Warfare Republican Nor A Massive Government Welfare Democrat–A Man Of And For The American People–A Tea Party Patriot–Ron Paul–Videos

http://pronkpops.wordpress.com/2011/05/18/pronk-pops-show-28-may-18-2011-segment-4-ron-paul-is-running-for-president-of-the-united-states-in-2012-the-third-time-is-the-charm-a-man-of-integrity-a-candidate-for-peace-and-prosperity-nei/

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

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/09/pronk-pops-show-27-may-9-2011-segment-1-bureau-of-labor-statistics-offical-unemployment-rate-u-3-increased-to-9-0-with-13-7-million-americans-unemployed-and-total-unemployment-rate-u-6-increas/

Segment 2: OMI-Obama Misery Index–U.S. Misery Index Is Rising As Both The Unemployment Rate and Inflation Rate Increase!–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/10/pronk-pops-show-27-may-10-2011-segment-2-omi-obama-misery-index-u-s-misery-index-is-rising-as-both-the-unemployment-rate-and-inflation-rate-increase-vidoes/

Segment 3: Segment 3: Speaker Boehner’s Address to the Economic Club of New York on Jobs, Debt, Gas Prices–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/05/10/pronk-pops-show-27-may-10-2011-segment-3-speaker-boehners-address-to-the-economic-club-of-new-york-on-jobs-debt-gas-prices/

Pronk Pops Show 26

April 27, 2011 11:28 AM PDT

Pronk Pops Show 25, April 26, 2011

Segment 0: Eva Cassidy–A Singer’s Singer

Segment 1: Ron Paul Is Running For President of The United States In 2012!–The Third Time Is The Charm–A Man Of Integrity–A Candidate For Peace and Prosperity–Neither A Big Government Warfare Republican Nor A Massive Government Welfare Democrat–A Man Of And For The American People–A Tea Party Patriot–Ron Paul–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/04/26/pronk-pops-show-25-april-26-2011-segment-0-eva-cassidy-a-singers-singer-segment-1-ron-paul-is-running-for-president-of-the-united-states-in-2012%E2%80%93the-third-time-is-the-charm%E2%80%93a/?preview=true&preview_id=808&preview_nonce=d3d9842e9a

Segment 3: President Obama Is The Reason Your Gasoline Prices Are Going Up!–American People Favor Drilling For Oil and Gas!–Drill Baby Drill–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/04/26/pronk-pops-show-25-april-26-2011-segment-3-president-obama-is-the-reason-your-gasoline-prices-are-going-up-american-people-favor-drilling-for-oil-and-gas-drill-baby-drill-videos/

Pronk Pops Show 24

April 20, 2011 12:47 PM PDT

Pronk Pops Show 24: April 19, 2011

Segment 0: S&P Rating Outlook Changed From “Stable” To “Negative” For U.S. Treasury Debt–Videos

Segment 1: Who is John Galt? Who is Ayn Rand–Videos

For additional information and videos:

http://pronkpops.wordpress.com/2011/04/17/pronk-pops-show-24-april-19-2011-segment-1-who-is-john-galt-who-is-ayn-rand-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:

http://pronkpops.wordpress.com/2011/04/18/pronk-pops-show-24-april-19-2011-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/

Pronk Pops Show 23

April 13, 2011 10:31 AM PDT

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:

http://pronkpops.wordpress.com/2011/04/11/tea-party-movement-demands-passage-of-balance-budget-amendment-and-balanced-budget-rule-as-the-price-for-raising-the-national-debt-ceiling-one-last-time-by-1000000000000-videos/?preview=true&preview_id=701&preview_nonce=5e679dbc1d

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:

http://pronkpops.wordpress.com/2011/04/11/pronk-pops-show-23-april-12-2011-segment-2the-fairtax-national-consumption-sales-tax-vs-the-flat-tax-one-rate-federal-income-tax-who-pays-the-most-federal-individual-income-tax-videos/

Pronk Pops Show 22 (Part 2)

April 08, 2011 11:16 AM PDT

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:

http://pronkpops.wordpress.com/2011/04/04/pronk-pops-show-22-april-5-2011-segment-113500000-million-americans-unemployed-in-march-2011-still-exceeds-great-depression-high-of-13000000-in-march-1933%E2%80%93the-obama-depressions-contin/

Pronk Pops Show 22 (Part 1)

April 07, 2011 10:41 AM PDT

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:

http://pronkpops.wordpress.com/2011/04/04/pronk-pops-show-22-april-5-2011-segment-113500000-million-americans-unemployed-in-march-2011-still-exceeds-great-depression-high-of-13000000-in-march-1933%E2%80%93the-obama-depressions-contin/

Pronk Pops Show 21

March 29, 2011 03:41 PM PDT

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:

http://pronkpops.wordpress.com/2011/03/29/pronk-pops-show-21-march-29-2011-the-truth-and-consequences-about-undeclared-wars%E2%80%93real-strange-bedfellows%E2%80%93obama-allies-u-s-with-libyan-rebels-including-islamic-jihadists-moslem-b/

Pronk Pops Show 20

March 23, 2011 12:02 PM PDT

Pronk Pops Show 20: March 22, 2011

Segment 1:F-15 Crashes In Libya

Segment 2surprisedne 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:

http://pronkpops.wordpress.com/2011/03/22/pronk-pops-show-20-march-22-2011-segment-1-f-15-crashes-in-libya-segment-2-videos/?preview=true&preview_id=569&preview_nonce=40500c814b

Pronk Pops Show 19

March 09, 2011 10:57 AM PST

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:

http://pronkpops.wordpress.com/2011/03/08/pronk-pops-show-19-march-8-2011segment-1-the-washington-political-elites-of-both-parties-are-not-serious-about-balancing-the-federal-budget-and-funding-entitlement-liabilities-send-in-the-clowns/

http://pronkpops.wordpress.com/2011/03/08/pronk-pops-show-19-march-8-2010-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-wi/

Pronk Pops Show 18

March 03, 2011 03:35 PM PST

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:

http://pronkpops.wordpress.com/2011/03/01/pronk-pops-show-18-march-1-2011-remembering-the-brooklyn-dodgers-and-duke-snider-the-union-corruption-of-government-delusion-of-the-unconstrained-vision-of-unlimited-government-and-the-2000000/

Pronk Pop Show 17

February 22, 2011 03:47 PM PST

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:

http://pronkpops.wordpress.com/2011/02/22/pronk-pops-show-17-february-22-2011-black-history-month-progressives-eugenics-black-population-control-abortion-black-genocide-planned-parenthood-barack-obama-videos/

Pronk Pops Show 16

February 15, 2011 03:49 PM PST

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:

http://pronkpops.wordpress.com/2011/02/15/pronk-pops-show-16-february-15-2011-conservative-political-action-conference-cpac-2011-and-president-obamas-saint-valentines-massacre-of-the-american-people-fiscal-year-2012-budget-buster-s/

Pronk Pops Show 15: Hour 3

February 10, 2011 03:32 PM PST

Pronk Pops Show 15:February 8,2011, Hour 3

Lies, Damn Lies, Statistics, and Obama’s Unbelievable Unemployment Numbers

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2011/02/08/pronk-pops-show-15-february-8-2011-from-texas-snow-storm-to-washington-snow-job-lies-damn-lies-statistics-and-obamas-unbelievable-unemployment-numbers-obama-care-unconstitutional-and-void-pa-2/

Pronk Pops Show 15: Hour 2

February 10, 2011 03:23 PM PST

Pronk Pops Show 15: February 8, 2011 Hour 2

Rolling Power Outages in Texas

Obama Care Declared Unconstitutional and Void By Federal Judge

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2011/02/08/pronk-pops-show-15-february-8-2011-from-texas-snow-storm-to-washington-snow-job-lies-damn-lies-statistics-and-obamas-unbelievable-unemployment-numbers-obama-care-unconstitutional-and-void-pa/

Pronk Pops Show 15: Hour 1

February 10, 2011 03:10 PM PST

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

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2011/02/08/pronk-pops-show-15-february-8-2011-from-texas-snow-storm-to-washington-snow-job-lies-damn-lies-statistics-and-obamas-unbelievable-unemployment-numbers-obama-care-unconstitutional-and-void-pa/

Pronk Pops Show 14

January 28, 2011 02:10 PM PST

Pronk Pops Show 14: January 27, 2011

The Big Lie and Free Speech

President Obama’s State of the Union Campaign Speech

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2011/01/27/pronk-pops-show-14-january-27-2011-the-big-lie-and-free-speech-and-president-obamas-state-of-the-union-campaign-speech-videos/

Pronk Pops Show 13

December 09, 2010 01:22 PM PST

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!

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2010/12/09/pronk-pops-show-december-9-2010-president-obama-and-republican-cut-tax-and-spend-deal-time-for-serious-spending-cuts-balance-budgets-and-the-flat-tax/

Pronk Pops Show 12

December 08, 2010 04:18 PM PST

Pronk Pops Show 12: December 8, 2010

News Update On WikiLeaks and Julian Assange

The Chairman of The Federal Reserve and Quantitative Easing 2

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2010/12/08/pronk-pops-show-12-december-8-2010-news-update-on-julian-assange-wikileaks-ben-benanke-the-fed-barack-obama-tax-and-spend-democrats-videos/

Pronk Pops Show 11

December 03, 2010 02:18 PM PST

Pronk Pops Show 11: December 3, 2010

News and Commentary On November 2010 Unemployment Rate and Level Statistics

WikiLeaks

For more information and videos related to this show click on link below:

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Pronk Pops Show 10

December 02, 2010 12:35 PM PST

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

November 19, 2010 02:23 PM PST

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

For more information and videos related to this show click on link below:

http://pronkpops.wordpress.com/2010/11/15/pronk-pops-show-9-november-17-2010-quantitative-easing-2-update-g-20-summit-a-bust-tsa-tyrants-scanning-americans-videos/

Pronk Pops Commentary 1

November 11, 2010 03:42 PM PST

Pronk Pops Commentary 1: November 11, 2010

Stop Federal Reserve Quantitative Easing or Money Printing

Pronk Pops Show 8

November 10, 2010 04:24 PM PST

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:

http://pronkpops.wordpress.com/2010/11/10/pronk-pops-show-8-november-10-2010-fiscal-policy-cut-spending-balanced-budgets-no-new-taxes-monetary-policy-no-quantitative-easing-or-printing-money-hidden-tax-videos/

Pronk Pops Show 7

November 09, 2010 02:45 PM PST

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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http://pronkpops.wordpress.com/2010/11/05/pronk-pops-show-7-november-8-2010-the-tea-party-effect-what-is-next-and-update-on-feds-qe2/

Pronk Pops Show 6

November 03, 2010 03:58 PM PDT

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

October 28, 2010 03:49 PM PDT

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

October 28, 2010 03:43 PM PDT

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

October 28, 2010 03:32 PM PDT

Pronk Pops Show 3: October 14, 2010

Unemployment and inflation in the United States economy

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Pronk Pops Show 2

October 28, 2010 03:27 PM PDT

Pronk Pops Show 2: October 13, 2010

The 10:10 carbon emission ad campaign on climate change

http://www.youtube.com/watch?v=wliC2Eiwoyw

http://www.1010global.org/uk

Secretary of State Hillary Clinton replacing Vice President Joseph Biden on the 2010 Democratic Party ticket

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Pronk Pops Show 1

October 28, 2010 03:01 PM PDT

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

Posted on July 28, 2011. Filed under: Banking, Blogroll, Business, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, Inflation, Language, Law, liberty, Microeconomics, Money, Wealth, Wisdom | Tags: , , , |

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

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.” …”

http://www.rasmussenreports.com/public_content/politics/general_politics/july_2011/most_voters_are_unhappy_with_both_sides_in_the_debt_ceiling_debate

 

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. …”

http://www.rasmussenreports.com/public_content/business/taxes/july_2011/55_oppose_tax_hike_in_debt_ceiling_deal

House passes Ryan’s ’12 budget; conservatives want more cuts

By Erik Wasson and Pete Kasperowicz – 04/15/11

“…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.” …”

http://thehill.com/blogs/on-the-money/budget/156379-house-clears-ryans-2012-budget-plan-conservatives-want-more-cuts

House passes cut, cap and balance — and a deal is in sight

By

“…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.

http://www.washingtonpost.com/blogs/right-turn/post/house-passes-cut-cap-and-budget–and-a-deal-is-in-sight/2011/03/29/gIQA7JIzOI_blog.html?hpid=z3

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Obama’s Gungate: Update On Operation Fast and Furious–Videos

Posted on July 27, 2011. Filed under: American History, Blogroll, Communications, Economics, Federal Government, government, government spending, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, media, Philosophy, Pistols, Politics, Raves, Rifles, Strategy, Taxes, Technology, Weapons, Wisdom | Tags: , , , , |

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

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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

Posted on July 27, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Investments, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Taxes, Unemployment, Unions | Tags: , , , , , , , , , , |

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

 

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

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American People Send A Message To President Obama: Take The $2,400 Billion Increase In National Debt Ceiling By Supporting H.R. 2560 The Cut, Cap, and Balance Act of 2011–Or Start Furloughing Non-essential Government Employees–No More Increases To The National Debt Ceiling Or Unbalanced Budgets–Videos

Posted on July 26, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Demographics, Economics, Education, Employment, Enivornment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Strategy, Talk Radio, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

U.S. National Debt Clock

http://www.usdebtclock.org/

Public Pulse: What Do Americans Really Think about the Debt Ceiling and Government Spending?

 

Americans Still Stuck on Economy as Top Problem in the U.S.

 

Editor-in-Chief Insights: Americans Assess the Debt Debate

 

Is Washington creating our jobs crisis? 

 

H.R. 2560 The Cut, Cap, and Balance Act of 2011

http://politics.nytimes.com/congress/bills/112/hr2560

Bill Text Versions
112th Congress (2011-2012)
H.R.2560

http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.2560:

http://thomas.loc.gov/cgi-bin/query/D?c112:1:./temp/~c112pRR36I::

Cut, Cap & Balance! Senators Paul, Lee and Vitter want a Constitutional Amendment

Sen. Toomey holds press conference on bill to protect seniors and active military

Sen. Toomey on Fox and Friends discussing the debt debate

Mark Levin Interviews Congressman Jim Jordan Who Supports Cut,Cap And Balance

The Lee-Toomey-Paul Cut, Cap and Balance Act Press Conference

Sen. Rand Paul Supports Cut-Cap-Balance Pledge

Lee Says Debt Plan Must Have Balanced Budget Amendment

7-21-11 – Ron Paul on the Debt Negotiations & Cut, Cap and Balance

Sen. Rand Paul on Fox Business w/ Lou Dobbs – 07/20/11

Ron Paul on The Lou Dobbs Show: Explains Why he didn’t vote for the Cut, Cap and Balance Bill

Ron Paul on WMAL Morning Majority: Talks about Dept Limit & Cut, Cap, and Balance

Ron Paul Ad – Conviction

Bachmann: “I can not vote to raise the debt ceiling”

Thomas Sowell  

Debt-Ceiling Chicken

“…The national debt-ceiling law should be judged by what it actually does, not by how good an idea it seems to be. The one thing that the national debt-ceiling has never done is to put a ceiling on the rising national debt. Time and time again, for years on end, the national debt-ceiling has been raised whenever the national debt gets near whatever the current ceiling might be.

Regardless of what it is supposed to do, what the national debt-ceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies — and then invite the opposition party to share the blame, by either raising the national debt ceiling, or by voting for unpopular cutbacks in spending or increases in taxes.

The Obama administration is a classic example. When all its skyrocketing spending bills were being rushed through Congress without even being read, the Democrats had such overwhelming majorities in both the Senate and the House of Representatives that Republicans had all they could do to get a word in edgewise — even though their words had no chance of stopping, or even slowing down, the spending of trillions of dollars.

Now that the bill is coming due for all that spending and borrowing, Republicans are suddenly being invited in to share the blame for either raising the national debt ceiling or for whatever other unpopular measures will be legislated.

Many years ago, someone said, “If you didn’t invite me to the big take-off, don’t invite me to the crash landing.” This was Obama’s big spending spree, but “bipartisanship” requires Republicans to either split the bill or be blamed if the government shuts down or defaults.

What would happen if there were no national debt-ceiling law?

Those who got the political benefits from handing out trillions of dollars of the taxpayers’ money (plus borrowed money) would also get the clear and sole blame for the resulting skyrocketing national debt and all the unpopular consequences.

Those people who want serious and substantial spending cuts are absolutely right in what they want. There are not only government programs that need to be cut but whole government agencies, including Cabinet-level Departments, that are not merely useless but positively harmful on net balance.

There are a lot of things that could be cut, and should be cut, instead of defaulting on the nation’s debts. But that is not likely to happen, if Obama and his media chorus can instead blame the Republicans for forcing a government shutdown or a credit default. …”

http://townhall.com/columnists/thomassowell/2011/07/26/debt-ceiling_chicken/page/full/

How to Freeze the Debt Ceiling Without Risking Default

Next year, the government will have 10 times more income than it needs to honor its interest obligations.

By Pat Toomey

“…As members of Congress debate whether to raise the U.S. debt ceiling—the limit on our government’s debt—we should all agree on at least one thing: Under no circumstances is it acceptable for the U.S. to default on its debt. Not only are we morally obligated to honor our debts, but we benefit greatly from the nearly universal conviction that those who lend to us will always be repaid, on time and in full. We should never undermine that conviction.

Fortunately, even if Congress doesn’t raise the debt ceiling, a default on our debt need not follow when our borrowings reach their limit in the next few months. I intend to introduce legislation to make sure of this.

For months, some political leaders and commentators have argued that failure to raise the debt ceiling would necessarily cause the U.S. to default on its debt. President Obama’s Council of Economic Advisors chairman, Austan Goolsbee, recently warned, “If we get to the point where you’ve damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity. I don’t see why anybody’s talking about playing chicken with the debt ceiling.”

In fact, if Congress refuses to raise the debt ceiling, the federal government will still have far more than enough money to fully service our debt. Next year, for instance, about 6.5% of all projected federal government expenditures will go to interest on our debt, and tax revenue is projected to cover about 67% of all government expenditures. With roughly 10 times more income than needed to honor our debt obligations, why would we ever default?

To make absolutely sure, I intend to introduce legislation that would require the Treasury to make interest payments on our debt its first priority in the event that the debt ceiling is not raised. This would not only ensure the continued confidence of investors at home and abroad, but would enable us to have an honest debate about the consequences of our eventual decision about the debt ceiling. …”

http://online.wsj.com/article/SB10001424052748703954004576089963912388314.html?mod=googlenews_wsj

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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

Posted on July 26, 2011. Filed under: Blogroll, Business, Communications, Economics, Employment, Federal Government, Foreign Policy, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Vacations, War, Wealth, Wisdom | Tags: , , , , , , , , |

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.

http://www.ssa.gov/OACT/TRSUM/index.html

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.

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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

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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

Posted on July 25, 2011. Filed under: American History, Banking, Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Language, Law, liberty, Life, Links, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Regulations, Resources, Security, Talk Radio, Taxes, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , |

 

 

“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.” …”

http://www.rasmussenreports.com/public_content/politics/general_politics/july_2011/most_voters_are_unhappy_with_both_sides_in_the_debt_ceiling_debate

 

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. …”

http://www.rasmussenreports.com/public_content/business/taxes/july_2011/55_oppose_tax_hike_in_debt_ceiling_deal

House passes Ryan’s ’12 budget; conservatives want more cuts

By Erik Wasson and Pete Kasperowicz – 04/15/11

“…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.” …”

http://thehill.com/blogs/on-the-money/budget/156379-house-clears-ryans-2012-budget-plan-conservatives-want-more-cuts

House passes cut, cap and balance — and a deal is in sight

By

“…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.

http://www.washingtonpost.com/blogs/right-turn/post/house-passes-cut-cap-and-budget–and-a-deal-is-in-sight/2011/03/29/gIQA7JIzOI_blog.html?hpid=z3 

 

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.

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

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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

Posted on July 23, 2011. Filed under: Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Inflation, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Strategy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , |

Obama:Cut Tax Breaks For Wealthy Before Cutting Medicare

 

Watch President Obama’s Full News Conference on Debt Talks’ Latest Breakdown

 

Charles Krauthammer: Obama At His Most Sanctimonious

 

U.S: Debt ceiling talks between Obama and Republicans collapse…

 

 

 

Obama: “We’ll walk you through this process”

 

Boehner: Where Is Obama’s Plan?

 

Rubio: “Hard To Compromise When The Other Side Does Not Have A Plan”

 

Michelle Malkin on Obama’s Whimpy Debt Plan and Debt Ceiling

 

Ron Paul discusses solution for US debt

 

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.

 

 

 

 

Read Full Post | Make a Comment ( 1 so far )

The Pronk Plan for A Peace and Prosperity Economy–Videos

Posted on July 23, 2011. Filed under: Agriculture, American History, Babies, Banking, Blogroll, Business, College, Communications, Demographics, Economics, Education, Employment, Energy, Enivornment, European History, Farming, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, media, Medicine, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Psychology, Rants, Raves, Regulations, Resources, Science, Security, Strategy, Talk Radio, Taxes, Technology | Tags: , , , , , , , , , , , , , , , , , , |

“…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?

Ron Paul We Didnt Permit The Bankruptcies FOUR YEARS AGO Problems Got Worse! Debt Exploded

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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The Revolution PAC–Give It Up For Liberty–No Donation Limits–The Troops, Millionaires, Billionaires and American People’s Choice–The Peace and Prosperity Candidate For President–Ron Paul–Videos

Posted on July 22, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Microeconomics, Monetary Policy, Money, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , |

Ron Paul Supporters Form A Revolution PAC!

Ron Paul : Freedom Is a Young Idea and Were Throwing It Away!

 

Ron Paul: Abolish the Income Tax!

 

Ron Paul on The Economy – Get Rid of The Income Tax

 

Ron Paul on Taxes

 

The FairTax: It’s Time

 

Everybody likes Ron Paul!

 

Ron Paul: America on the Road to Serfdom

 

Ron Paul Revolution!

 

Ron Paul Rocks The View: Whoopi Goldberg Frustrated When Audience Cheers Ron Paul

 

 

Ron Paul is choice of troops!

 

Ronald Reagan on Ron Paul

Ronald Reagan and Ron Paul: A Comparison

 

Ron Paul’s Road to 2012

 

Ron Paul : The Preservation of Liberty

 

Conviction, Not Compromise! (Ron Paul’s First 2012 TV Ad)

 

Ron Paul 2012 “The High Tide” HD

 

Ron Paul: A New Hope

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Ron Paul Defender of Freedom–The Youth and Professional Soldiers Choice For President Of The United States–The Peace and Prosperity Candidate–Campaign for Liberty–Videos

Posted on July 22, 2011. Filed under: Blogroll, Business, Communications, Federal Government, government, government spending, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Talk Radio, Taxes, Vacations, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

 

 

Ron Paul: Bring the Troops Home & Balance the Budget

 

Ron Paul: Rein in Government Spending to Reduce the Debt

 

 

Ron Paul: #1 with the Troops

 

 

Ron Paul: Allow the Correction & Stop Printing Money

 

Conviction, Not Compromise! (Ron Paul’s First 2012 TV Ad)

 

Ron Paul Supporters Form A Revolution PAC!

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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

Posted on July 21, 2011. Filed under: American History, Blogroll, Business, Communications, Economics, Education, Employment, Energy, Federal Government, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Regulations, Security, Strategy, Taxes, Technology, Transportation, Video, Wealth, Wisdom | Tags: , , , , , , , , , , |

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

 

Bluffing Millions in Financial Backing – Peter Diamandis (X Prize)

“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

 

Falcon 9 Super Heavy  

 

SpaceX Falcon 9 Rocket Launch

 

SpaceX Falcon 9 Rocket Launch With Dragon Capsule – Full Unedited Video

 

Interview with Ken Bowersox, SpaceX Vice President

 

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

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Conservative, Libertarian and Tea Party Movements Sold Out and Betrayed By Gang of Six and Progressive Republicans In Senate–Videos

Posted on July 19, 2011. Filed under: Agriculture, Banking, Blogroll, Communications, Economics, Employment, Energy, Farming, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Inflation, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Resources, Taxes, Unemployment, Unions, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , |

 

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.

Mr. Obama’s endorsement of a bipartisan Senate deficit-reduction proposal, however, could isolate conservative House Republicans who have yet to embrace the president’s call for a deficit-cutting plan that includes tax-code changes. It faces an uncertain future in the House, and even in the Senate, however.

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. …”

http://online.wsj.com/article/SB10001424052702303661904576456042405686316.html?mod=WSJ_hp_LEFTTopStories

Related Posts On Pronk Palisades

Senator Tom Coburn–A Real Conservative and An Excellent Vice-President Candidate

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Senator Tom Coburn’s $9,000 Billion Deficit Reduction Plan–Videos

Posted on July 18, 2011. Filed under: Agriculture, American History, Banking, Blogroll, Communications, Economics, Employment, Farming, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Inflation, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Regulations, Security, Taxes, Video, Wealth, Wisdom | Tags: , , , , , , , |

 

 

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. …”

http://coburn.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=1d817708-76ed-4b2b-9cc2-076415409d44

 

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.

Read more: http://newsok.com/details-of-sen.-tom-coburns-9-trillion-plan-to-balance-the-budget-released/article/3586676#ixzz1SVt1zave

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

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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

Posted on July 18, 2011. Filed under: Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Fiscal Policy, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Talk Radio, Taxes, Technology, Unemployment, Unions, Video, War, Wealth | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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.

http://www.presidency.ucsb.edu/data/budget.php

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President Obama Lies and Scares People On Social Security–Stop Spending and Balance The Budget!–Videos

Posted on July 16, 2011. Filed under: American History, Banking, Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Psychology, Rants, Raves, Security, Strategy, Talk Radio, Taxes, Unions, Video, War, Wealth, Wisdom | Tags: , , |

 

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

Posted on July 15, 2011. Filed under: Banking, Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Language, Life, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Strategy, Talk Radio, Taxes, Unemployment, Video, Wealth, Wisdom | Tags: , , , |

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

Posted on July 15, 2011. Filed under: American History, Banking, Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Homes, Immigration, Inflation, Language, Law, liberty, Life, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Raves, Taxes, Technology, Video, War, Wealth, Wisdom | Tags: , , , |

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

Posted on July 14, 2011. Filed under: American History, Babies, Blogroll, Communications, Culture, Entertainment, government, government spending, history, Language, liberty, Life, Links, media, Music, People, Philosophy, Politics, Rants, Raves, Strategy, Taxes, Video, Wisdom | Tags: , , , |

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

Posted on July 13, 2011. Filed under: Banking, Blogroll, Communications, Economics, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Law, liberty, Life, Links, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Wealth, Wisdom | Tags: , , , |

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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Ron Paul On The National Debt Ceiling, Government Deficit Spending and The Federal Reserve–Videos

Posted on July 12, 2011. Filed under: American History, Blogroll, Communications, Economics, European History, Federal Government, Foreign Policy, government, government spending, Health Care, history, Inflation, Language, Law, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Raves, Video, Wealth, Wisdom | Tags: , , , , , , , |

Ron Paul on Debt Limit, FED And Default…What To Do About IT

 

Ron Paul won’t seek re election for Congress

 

Ron Paul 2012: Debt Ceiling, Default, & Inflation

 

Ron Paul: The World Will Give Up on the Dollar

 

Ron Paul: The Purpose of a Central Bank Is to Deceive and Defraud the People

 

Ron Paul – Will Congress Raise the Debt Ceiling – Your share in debt ceiling 2011

 

 

Ron Paul on the Debt Ceiling, Sanctuary Cities and Entitlement Program

 

 

 

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The History of Gun Control –Videos

Posted on July 12, 2011. Filed under: American History, Blogroll, Communications, Economics, Education, Federal Government, government, government spending, history, Law, liberty, Life, Links, People, Philosophy, Politics, Raves, Regulations, Security, Video, War, Wisdom | Tags: , , , , , , , , , |

The History of Gun Control – Innocence Lost Part 1 of 6

 

The History of Gun Control – Innocence Lost Part 2 of 6

 

The History of Gun Control – Innocence Lost Part 3 of 6

 

The History of Gun Control – Innocence Lost Part 4 of 6

 

The History of Gun Control – Innocence Lost Part 5 of 6

 

The History of Gun Control – Innocence Lost Part 6 of 6

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Fn Five-Seven pistol–Videos

Posted on July 11, 2011. Filed under: Blogroll, Law, liberty, Life, People, Pistols, Rifles, War, Weapons | Tags: , , |

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

Posted on July 11, 2011. Filed under: Blogroll, Business, Communications, Crime, Drug Cartels, Economics, Federal Government, government, government spending, Video, War, Wealth, Wisdom | Tags: , , , |

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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Second Amendment To The U.S. Constitution–The Individual’s Right To Keep and Bear Arms–Gun Registration, Bans and Gun Confiscation–Videos

Posted on July 11, 2011. Filed under: Blogroll, Communications, Crime, Drug Cartels, Federal Government, government, government spending, Law, liberty, Life, Links, People, Philosophy, Politics, Rants, Raves, Regulations, Taxes, Video, War, Wealth, Wisdom | Tags: , , , , , |

part 1 GUN REGULATION, ASSAULT WEAPONS BAN, SECOND AMMENDMENT, GUN CONFISCATION, OBAMA

 

part 2 GUN REGULATION, ASSAULT WEAPONS BAN, SECOND AMMENDMENT, GUN CONFISCATION, OBAMA

 

part 3 GUN REGULATION, ASSAULT WEAPONS BAN, SECOND AMMENDMENT, GUN CONFISCATION, OBAMA

 

Gun Confiscation

 

Background Articles and Videos

The Truth About Semi-Auto Firearms

 

The Truth About AK-47 Firepower

 

NRA: “Assault Weapons”, the Clinton Gun Ban Story

 

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Nick Gillespie and Matt Welch–The Declaration of Independents–Videos

Posted on July 9, 2011. Filed under: American History, Blogroll, Business, Economics, government, government spending, history, Inflation, Investments, Law, liberty, Life, media, People, Philosophy, Politics, Psychology, Rants, Raves, Regulations, Unemployment, Video, War, Wisdom | Tags: , , , , , |

Reason’s Nick Gillespie and Matt Welch Present The Declaration of Independents

 

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