“This amnesty will give citizenship to only 1.1 to 1.3 million illegal aliens. We will secure the borders henceforth. We will never again bring forward another amnesty bill like this.”
~Senator Edward “Ted” Kennedy, D-Mass, regarding an amnesty bill passed in 1986
Immigration by the Numbers — Off the Charts
Immigration, World Poverty and Gumballs – Updated 2010
1984 – Ronald Reagan on Amnesty
In this brief video-clip from the 1984 presidential debates Ronald Reagan discusses immigration, amnesty and the failure of the first attempt to pass the Simpson-Mazzoli Immigration Reform and Control Act. [When the act finally passed (1986) did we get reform? Did we get control?]
The Immigration Reform and Control Act of 1986
Illegal Alien
A foreigner who has either entered a country illegally (e.g. without inspection or proper documents) or who has violated the terms of legal admission to the country (e.g. by overstaying the duration of a tourist or student visa).
8 USC § 1101 – Definitions
(3) The term “alien” means any person not a citizen or national of the United States.
How Many Illegal Aliens Are in the US? – Walsh – 1
How Many Illegal Aliens Are in the United States? Presentation by James H. Walsh, Associate General Counsel of the former INS – part 1.
How Many Illegal Aliens Are in the US? – Walsh – 2
How Many Illegal Aliens Are in the United States? Presentation by James H. Walsh, Associate General Counsel of the former INS – part 2.
Census Bureau estimates of the number of illegals in the U.S. are suspect and may represent significant undercounts. The studies presented by these authors show that the numbers of illegal aliens in the U.S. could range from 20 to 38 million.
US immigration system moves towards reform
Sen. Ted Cruz Speaks on the Senate Floor in Opposition to the Gang of Eight’s Immigration Bill
Glenn Beck to Release Name of 70 House Republicans for Showdown w John Boehner on Amnesty Bill
Glenn Beck: Interview with House Republicans Planning Revolt On Immigration Bill
Glenn Beck Program Immigration and Equal Opportunity 06132013
US Senate Votes to Consider Citizenship for Illegal Immigrants
News Wrap: Senate Votes to Begin Immigration Reform Debate
Border Insecurity Citizens Track Surge Of Illegal Immigration! – Wake Up America!!
Chris Pyle, Whistleblower on CIA Domestic Spying in 70s, Says Be Wary of Attacks on NSA’s Critics
NSA Chief Grilled at Senate Hearing on Surveillance Programs
He told you so: Bill Binney talks NSA leaks
“In the wake of multiple leaks regarding the data mining programs PRISM and Boundless Informant, whistleblowers are coming out in droves to talk about the unprecedented government surveillance on the American public. RT Correspondent Meghan Lopez had a chance to sit down with NSA whistleblower William Binney to talk about the latest developments coming out of the NSA case. Binney is a 32 year veteran of the NSA, where he helped design a top secret program he says helps collect data on foreign enemies. He is regarded as one of the best mathematicians and code breakers in NSA history. He became an NSA whistleblower in 2002 when he realized the program he helped create to spy no foreign enemies was being used on Americans.”
A Massive Surveillance State Glenn Greenwald Exposes Covert NSA Program Collecting Calls, Emails
What You Should Know About The New NSA Utah Data Center
Glenn Greenwald Vs Bush Press Sec. Ari Fleischer Over NSA’s PRISM
NSA Whistleblowers: “All U.S.Citizens” Targeted By Surveillance Program, Not Just Verizon Customers
Experts Say NSA Leak Damage Could be Significant
“SPY AND DENY” IS THE NEW NORMAL IN USA!
Era of Online Sharing Offers ‘Big Data,’ Privacy Trade-Offs
Rep King Drops Bombshell; Sen Lee To Talk Claim Chief Justice Roberts Blackmailed
How PRISM Easily Gives Your Private Data Over to Big Brother
“The National Security Agency has obtained direct access to the systems of Google, Facebook, Apple and other US internet giants, according to a top secret document obtained by the Guardian.
The NSA access is part of a previously undisclosed program called Prism, which allows officials to collect material including search history, the content of emails, file transfers and live chats, the document says.”*
We’ve been assured by the president that the NSA’s PRISM program won’t affect “ordinary” U.S. citizens, but what is the criteria for deciding who gets their data mined and monitored? Cenk Uygur, Ben Mankiewicz, and John Iadarola (Host, TYT University) discuss the egregious reach of the Obama administration’s secret mass surveillance program.
NSA whistleblower Edward Snowden: ‘I don’t want to live in a society that does these sort of things’
Microtargeting
RNC/DNC Collecting Your Info En Masse
ILLEGAL IMMIGRATION IS DESTROYING AMERICA
The Dangers of Unlimited Legal & Illegal Immigration
Immigration by the Numbers — Off the Charts
Immigration, World Poverty and Gumballs – Updated 2010
THEY COME TO AMERICA II. The Cost of Amnesty
They Come to America (Trailer 2)
2012: They Come to America. The Cost of Illegal Immigration.
Schumer Refuses To Estimate Future Immigration Flow Under Gang Of Eight Proposal
Obama To Stop Deporting Young Illegal Immigrants
“The Obama administration will stop deporting young illegal immigrants who came to the U.S. as children and who do not pose a security threat, senior administration officials said this morning, a move that could prove important in a presidential campaign that will turn in part on who wins over Latino voters.
Effective immediately, young immigrants who arrived in the U.S. illegally before they turned 16 will be allowed to apply for work permits as long as they have no criminal history and meet other criteria, officials said.
Reality Check: President Obama’s Immigration Reform Rings Hollow
(Part I) A Day in the Life of an Arizona Rancher: Fences, Illegal Aliens, and One Man’s Watchtower
(Part II) A Day in the Life of an Arizona Rancher: Fences, Illegal Aliens, and One Man’s Watchtower
Background Articles and Videos
Ap’s “Illegal Immigrant” Stand – Leno: Illegal Immigrants That is Out, Now “Undocumented Democrats”
Illegal immigration to the United States – Wiki Article
Illegal immigration to the United States is the act of foreign nationals entering the United States, without government permission and in violation of United States nationality law, or staying beyond the termination date of a visa, also in violation of the law.
The illegal immigrant population of the United States in 2008 was estimated by the Center for Immigration Studies to be about 11 million people, down from 12.5 million people in 2007. Other estimates range from 7 to 20 million. According to a Pew Hispanic Center report, in 2005, 56% of illegal immigrants were from Mexico; 22% were from other Latin American countries, primarily from Central America; 13% were from Asia; 6% were from Europe and Canada; and 3% were from Africa and the rest of the world.
Profile and demographics
Illegal immigrants continue to outpace the number of legal immigrants —a trend that’s held steady since the 1990s. While the majority of illegal immigrants continue to concentrate in places with existing large Hispanic communities, increasingly illegals are settling throughout the rest of the country.
An estimated 14 million people live in families in which the head of household or the spouse is in the United States illegaly . The number of illegal immigrants arriving in recent years tend to be better educated than those who have been in the country a decade or more. A quarter of all immigrants who have arrived in recent years have at least some college education. Nonetheless, illegal immigrants as a group tend to be less educated than other sections of the U.S. population: 49 percent haven’t completed high school, compared with 9 percent of native-born Americans and 25 percent of legal immigrants.
Illegal immigrants work in many sectors of the U.S. economy. According to National Public Radio in 2005, about 3 percent work in agriculture; 33 percent have jobs in service industries; and substantial numbers can be found in construction and related occupations (16 percent), and in production, installation, and repair (17 percent). According to USA Today in 2006, about 4 percent work in farming; 21 percent have jobs in service industries; and substantial numbers can be found in construction and related occupations (19 percent), and in production, installation, and repair (15 percent), with 12% in sales, 10% in management, and 8% in transportation. Illegal immigrants have lower incomes than both legal immigrants and native-born Americans, but earnings do increase somewhat the longer an individual is in the country.
A percentage of illegal immigrants do not remain indefinitely but do return to their country of origin; they are often referred to as “sojourners: they come to the United States for several years but eventually return to their home country.”
Breakdown by state
As of 2006, the following data table shows a spread of distribution of locations where illegal immigrants reside by state.
Number of illegal immigrants
According to the Government Accountability Office (GAO), different estimates of the total number of illegal immigrants vary depending on how the term is defined. There are also questions about data reliability.
The GAO has stated that “it seems clear that the population of undocumented foreign-born persons is large and has increased rapidly.” On April 26, 2006 the Pew Hispanic Center (PHC) estimated that in March 2005 the number of illegal immigrants in the U.S. ranged from 11.5 to 12 million individuals. This number was derived by a statistical method known as the “residual method.” According to the General Accounting office the residual estimation (1) starts with a census count or survey estimate of the number of foreign-born residents who have not become U.S. citizens and (2) subtracts out estimated numbers of legally present individuals in various categories, based on administrative data and assumptions (because censuses and surveys do not ask about legal status). The remainder, or residual, represents an indirect estimate of
Senate Dismisses Any Pretense of Enforcement in the Gang of Eight Immigration Bill
Rubio Reneges on Promise to Fix Flaws in the Bill
(Washington, D.C. June 13, 2013) In the first important vote on amendments to the Gang of Eight immigration bill, S.744, the United States Senate quickly dismissed any pretense that they intend to deliver on promises of future immigration enforcement, declared the Federation for American Immigration Reform (FAIR). By a 57-43 vote, the Senate tabled an amendment by Sen. Chuck Grassley (R-Iowa) that would have required that the Department of Homeland Security (DHS) demonstrate effective control of U.S. borders for six months before illegal aliens could gain amnesty.
“Today’s vote makes it clear that a majority of senators place a higher priority on granting amnesty to illegal aliens than they do on fulfilling their promises to the American people that our borders will be secured and that our immigration laws will be enforced,” said Dan Stein, president of FAIR. “Tellingly, Gang of Eight member Marco Rubio (R-Fla.), who has repeatedly vowed to oppose the bill if border enforcement provisions are not strengthened, was among the majority of senators who voted to kill the Grassley amendment.”
Majority Leader Harry Reid (D-Nev.) described the amendment as a “poison pill” and used a parliamentary procedure to shut off debate on it. “In the Alice in Wonderland world of the United States Senate, securing our borders and fulfilling promises to the American people, before rewarding illegal aliens, is considered a ‘poison pill,’” observed Stein.
“The vote also undermines whatever credibility Sen. Rubio had left as an honest broker on behalf of the interests of the American people. The fix is in and Rubio is off the fence. The Gang of Eight and the Senate leadership will employ any tactic to prevent amendments that might upset special interest constituencies from supporting the bill,” Stein continued.
“Under this bill there will be no border security. There will be no immigration enforcement. The Gang of Eight bill is about delivering amnesty to illegal aliens and cheap labor to business interests, and nothing else,” Stein concluded.
Defeat The Gang of 8 Amensty For Illegal Immigation Bill
Gang Of Eight Senators Kill Amendment Requiring Border Fence
Rep. Steve King: Immigration Legislation is ‘Breathtaking, Outrageous Form of Amnesty’
Heritage Foundation Report on the cost of legalizing 11 mn illegal immigrants
Legalizing Illegals Will Cost $6.3 Trillion!
Wood Says Immigration Amnesty to Cost $6.3 Trillion
Schumer Refuses To Estimate Future Immigration Flow Under Gang Of Eight Proposal
Cruz Offers Amendments to ‘Gang of Eight’ Bill
Congressman Steve King leads House opposition to Senate’s Gang of Eight immigration bill
Law Officers Plead With Congress To Hear Their Concerns Over Proposed Amnesty Bill
Sessions: Gang Of Eight Sticking Together To Defeat Improvements To Their Bill
Top ICE Agent: ‘Zero Confidence In This Administration’ To Deliver On Immigration Enforcement
The Gang Of 8′s Opposition Cost $6.3 Trillion – Sessions: 35 million Illegals New Citizen – Dobbs
Sessions: Gang Of Eight Bill Would Surge Low-Skill Immigration, Hurt Working Americans
Sessions: Senate Rushing Immigration Bill Lawmakers Haven’t Read
US. & Mexican Government Working Together To Provide Legal & illegal Aliens Food Stamp – O’Reilly
Border Patrol Official: Illegal Immigrants To Get ‘A Free Pass’ Under President’s New Policy
Sen. Sessions: Senate immigration bill will ‘hammer working Americans’
By Bernie Becker
Sen. Jeff Sessions (R-Ala.) said Friday that the Senate immigration reform bill would “hammer working Americans.”
Sessions, one of the immigration overhaul’s most strident critics, suggested the measure would prioritize foreign-born workers over people already in the U.S. struggling to find a job.
“This is far, far too many low-skilled workers that are going to take jobs and pull down wages of people unemployed and underemployed right now,” Sessions, a senior member of the Senate Judiciary Committee, said on Fox Business. “It’s really, really dangerous.”
The Senate Judiciary panel cleared the immigration bill crafted by the so-called “Gang of Eight” this week by a bipartisan 13-5 vote, and its supporters hope to rack up 70 votes in the chamber.
But Sen. Robert Menendez (D-N.J.), one of the Gang of Eight, said Friday that the vote doesn’t yet have 60 votes in the chamber. Sen. Orrin Hatch (Utah), another senior Republican on the Judiciary panel, voted for the measure in committee, but has said he might not back it on the Senate floor.
Slow “growth”,GDP makeover, Keynesians demand more debt and inflation
The Fed, Ben Bernanke & the Economy (4/30/13)
Coming Economic Collapse Peter Schiff RT America
Austrian Theory of the Trade Cycle | Roger W. Garrison
Tom Woods Discusses his New Documentary, The Bubble
Director of “The Bubble” Jimmy Morrison interview with ManifestLiberty.com Part 1/2
Director of “The Bubble” Jimmy Morrison interview with ManifestLiberty.com Part 2/2
Fed Keeps Interest Rates Low, Continues Bond Buying Program
The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.
Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.
While recent meetings have been remarkable for signs of dissent over the long-standing Fed policy, the sentiment this month turned towards concerns about “downside risks” to growth, though the FOMC made no mention of the recent set of weak economic data.
The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.
Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.
While recent meetings have been remarkable for signs of dissent over the long-standing Fed policy, the sentiment this month turned towards concerns about “downside risks” to growth, though the FOMC made no mention of the recent set of weak economic data.
While stocks have soared to new highs, the economy remains in slow-growth mode as it has throughout Chairman Ben Bernanke’s term, which began just before the onset of the financial crisis.
The stock market reacted little to the 2 pm news, maintaining an earlier selloff spurred over jobs fears.
Fed officials have long bemoaned Washington fiscal policy, with Congress and the White House in a continued stalemate that has resulted in a raft of mandated tax increases and spending cuts known as the sequester.
The May FOMC statement kept up the heat.
“Household spending and business fixed investment advanced, and the housing sector has strengthened further, but fiscal policy is restraining economic growth,” the statement said.
The Fed’s decision came the same day as a report on private payrolls fell well below expectations, indicating just 119,000 new jobs created, a seven-month low.
While critics worry about inflation, the Fed continued to conclude that “expectations have remained stable.”
The Fed has vowed to keep interest rates exceptionally low until unemployment falls to 6.5 percent from its current 7.6 percent and until inflation reaches 2.5 percent from its current 1.5 percent.
Ben Bernanke Is The Most Dangerous Man In US History
US BOND BUBBLE’S READY TO BURST!
Max Keiser: Propped Up Bond Market Set To Burst In April
U.S. Government Bond Bubble to Burst, Faber Says
James Grant and James Turk discuss gold, the Fed and the fiscal situation of the USA
USA Will Die – Economic Collapse 2013 – Jim Rogers
JIM ROGERS – 2013 to Be Bad, ‘God Knows What Will Happen in 2014′
Jim Rogers Predicts Global Depression In 2013-2014
Peter Schiff on Max Keiser – Stopping the Global Financial Crisis
Keiser Report: Psyops & Debt Diets
Max Keiser: Will the next crash be on Bonds?
MAX KEISER: Colossal Collapse Coming! Keiser Report
MAX KEISER: Colossal Collapse Coming! Keiser Report
ALEX JONES & Max Keiser 2013, Year of The GREAT CRASH!
Peter Schiff – Dollar Could Collapse This Fall 2013
Peter Schiff – Economic Collapse 2013
Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards
Jim Rickards Gold is Money ($7,000 Gold Price)
James Rickards Predicts US Inflation in 2013 due to the Devaluation of the US dollar
Currency Wars: Jim Rickards
Financial Pearl Harbor’ is a Real Threat Warns a Pentagon Adviser
CNBC Global Recession Is Coming – Marc Faber
Dr. Marc Faber – US is in 50-100 trillion worth of debt!
Marc Faber ‘We Are in the End Game’ Part 1
Marc Faber ‘We Are in the End Game Part 2
Marc Faber – We Could See a 1987-Like Market Crash – Be Prepared and Get OUT!
Marc Faber-No Government Complies With Anything
Total Economic Collapse, Death of the Dollar, Impovershment, WWIII, Marc Faber Interview
Gerald Celente Deal Or No Debt Deal, The Debt Still Exists
Bill Gross: Economy Faces Structural Headwinds, “I Think We Are Facing Bubbles Almost Everywhere”
ECONOMIC CRASH WORLDWIDE STARTING
Harry Dent predicts global economic crash in 2013
Planned Economic Collapse 2013-2014
Background Articles and Videos
Meltdown (pt 1-4) The Secret History of the Global Financial Collapse 2010
Meltdown (pt 2-4) The Secret History of the Global Financial Collapse 2010
Meltdown (pt 3-4) The Secret History of the Global Financial Collapse.2010
Meltdown – pt 4-4 The Secret History of the Global Financial Collapse (2010)
The Fall of Lehman Brothers
Goldman Sachs: Power and Peril – Documentary
The Ascent of Money: A Financial History of The World by Niall Ferguson Epsd. 1-5 (Full Documentary)
The Fall of the Dollar – The Death of a Fiat Currency part 1
The Fall of the Dollar – The Death of a Fiat Currency part 2
The First 12 Hours of a US Dollar Collapse
LIFE HIDDEN TRUTH 2013 GLOBAL FINANCIAL CRISIS
Billionaires Dumping Stocks, Economist Knows Why
Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.
Unfortunately Buffett isn’t alone.
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.
Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
So why are these billionaires dumping their shares of U.S. companies?
After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.
It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.
One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.
Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.
In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.
The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.
A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”
The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”
And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”
In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.
Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.
It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.
“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.
“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”
Series exploring the history of the people and ideas behind what became known as Thatcherism. When Thatcher became Prime Minister, the monetarist policies used to combat inflation created large-scale unemployment and weakened the unions. As riots broke out across Britain, there was growing dissent even inside the government. How would Mrs Thatcher survive her plummeting popularity?
Tory! Tory! Tory! – Ep 2: The Road to Power – BBC 2007
Tory! Tory! Tory! – Ep 3: The Exercise of Power – BBC 2007
Conservative savior of UK’s economy, Margaret Thatcher dead at 87
By Raymond Thomas Pronk
“Some Socialists seem to believe that people should be numbers in a State computer. We believe they should be individuals. We are all unequal. No one, thank heavens, is like anyone else, however much the Socialists may pretend otherwise. We believe that everyone has the right to be unequal but to us every human being is equally important.”
~Margaret Thatcher, Speech to Conservative Party Conference, October 10, 1975
Ceremonial funeral services with military honors for Margaret Thatcher, former prime minister of the United Kingdom, known as Maggie to her friends and “the Iron Lady” to her opponents, will be held this Wednesday at St Paul’s Cathedral, according to Prime Minister David Cameron’s office.
Her legacy was to change her country’s dominant ideology from collectivist state socialism implemented in decades of Labour Party policies to an individualist market capitalism implemented in Conservative Party policies. In the process she returned the U.K. to eight years of economic growth and prosperity in the 1980s.
Thatcher supported President Ronald Reagan and the United States in defeating communism in the Soviet Union and winning the Cold War.
Thatcher had been in declining health for a number of years and died peacefully in her sleep the morning of April 8 following a stroke.
British Prime Minister David Cameron said of Thatcher, “As our first woman prime minister, Margaret Thatcher succeeded against all the odds and the real thing about Margaret Thatcher is that she didn’t just lead our country, she saved our country, and I believe she’ll go down as the greatest British peacetime prime minister.”
President Barack Obama said, “The world has lost one of the great champions of freedom and liberty and America has lost a true friend.” Obama said she had taught “our daughters that there is no glass ceiling that can’t be shattered.”
John Boehner, speaker of the house, said, “The greatest peacetime prime minister in British history is dead. Margaret Thatcher, a grocer’s daughter, stared down elites, union bosses and communists to win three consecutive elections, establish conservative principles in Western Europe and bring down the Iron Curtain. There was no secret to her values – hard work and personal responsibility – and no nonsense in her leadership.”
Nancy Reagan, widow of former President Ronald Reagan said: “Ronnie and Margaret were political soul mates, committed to freedom and resolved to end Communism. As Prime Minister, Margaret had the clear vision and strong determination to stand up for her beliefs at a time when so many were afraid to ‘rock the boat.’ As a result, she helped to bring about the collapse of the Soviet Union and the liberation of millions of people.”
In 1975 Thatcher was elected leader of the Conservative Party. She was subsequently elected prime minister of the United Kingdom on May 4, 1979. Thatcher served three terms from 1979 to 1990 becoming Britain’s longest-serving prime minister in over a century as well as the most dynamic, inspirational and controversial.
When Thatcher took office, the British economy was in shambles and in recession, inflation was rising and the government faced possible bankruptcy. This was a direct result of many years of Labour Party socialistic policies of out-of-control government spending, confiscatory taxation and the nationalization or state control of many industries including coal, steel, railways, gas, electricity, water, trucking, airlines and telecommunications.
The writings of Austrian economist and political philosopher, Friedrick A. Hayek, winner of the 1973 Nobel Prize in Economics, in particular his book, “The Road to Serfdom”, inspired and guided Thatcher’s economic policies.
Thatcher turned the economy around and made Britain governable again by taking on and taming the trade unions with labor reform legislation. No longer were the unions able to dictate the nation’s economic policies. Under Thatcher the British government pursued a policy of selling state assets with privatization of industry, thus reversing the Labour Party’s nationalization of industry.
When the Argentina government under the fascist junta invaded the British protectorate of the Falkland Islands in April 1982, she led the U.K. to victory. The Argentinians soon toppled the military junta.
In October 1984 there was an assassination attempt on her life when a hotel in Brighton where she and her husband and other members of her cabinet were staying was bombed by Irish Republican Army (IRA) terrorists.
Thatcher supported Reagan in opposing communism and confronting the “evil empire” of the Soviet Union. She was instrumental in the introduction of cruise missiles in Britain to counter the Soviet military threat. She allied the United Kingdom with the United States against the communist expansion and subversion in the West and the winning of the Cold War with the Soviet Union.
A concise biography of her life can be found at the Margaret Thatcher Foundation web site http://www.margaretthatcher.org/essential/biography.asp. An excellent critical biography is Claire Berlinsky’s “There is No Alternative: Why Thatcher Matters” and related interview on YouTube video titled, “Thatcher & More with Claire Berlinski.”
An excellent multi-part documentary about Thatcher produced in 2008 by the conservative paper, The Daily Telegraph, can be viewed on YouTube as well as an entertaining movie about her early political career titled, “Margaret Thatcher – The Long Walk to Finchley.”
Her husband of more than 50 years, Denis Thatcher, died in June 2003. She is survived by her twin son, Mark, and daughter, Carol, born in 1953.
Thatcher remains a controversial figure in Britain. She was loved and revered by many as well as loathed and reviled by some. She will be remembered by all who value economic freedom and individual liberty.
“Freedom to choose is something we take for granted—until it is in danger of being taken away. Socialist governments set out perpetually to restrict the area of choice, Conservative governments to increase it. We believe that you become a responsible citizen by making decisions yourself, not by having them made for you.”
~Margaret Thatcher, Speech to Conservative Party Conference, October 10, 1975
David Cameron’s Commons tribute to Margaret Thatcher in full
Margaret Thatcher – Falklands War – YouTube
MARGARET THATCHER – Pt 1 The Making of Margaret (Telegraph Documentary)
MARGARET THATCHER – Pt 2 The Falklands (Telegraph Documentary)
MARGARET THATCHER – Pt 3 World Stage (Telegraph Documentary)
MARGARET THATCHER – Pt 4 The Age of Dissent (Telegraph Documentary)
MARGARET THATCHER – Pt 5 Taking on the Unions (Telegraph Documentary)
MARGARET THATCHER – Pt 6 Public Image, Private Life. (Telegraph Documentary)
MARGARET THATCHER – Pt 7 The Fall (Telegraph Documentary)
MARGARET THATCHER – Pt 8 The Legacy (Telegraph Documentary)
Margaret Thatcher – The Long Walk To Finchley Full Movie
David Cameron’s Commons tribute to Margaret Thatcher in full
Malcolm Rifkind: Working with Margaret Thatcher was ‘never dull’
Margaret Thatcher Dead At 87 – “The Iron Lady” – Stuart Varney
‘Iron Lady’ Margaret Thatcher dies at 87 after stroke
Margaret Thatcher “The Iron Lady” Dead At 87
Obituary: Margaret Thatcher
MARGARET THATCHER DIES AT 87 (WARNING! FLASH PHOTOGRAPHY)
BBC News Announcement – Margaret Thatcher Has Died
Margaret Thatcher dies: David Cameron pays tribute to ‘patriot Prime Minister’
Margaret Thatcher: Boris Johnson pays tribute
Margaret Thatcher changed global political landscape: Tony Blair
Remembering Margaret Thatcher: Pioneering Female Politician
Margaret Thatcher on The MacNeil/Lehrer Report
Thatcher and Reagan’s special relationship
Margaret Thatcher, British Conservative Hero, Dies at 87
MARGARET THATCHER 30TH ANNIVERSARY CLIPS – ’79 RESULT & JANET BROWN SPOOF
Margaret Thatcher – Capitalism and a Free Society
Margaret Thatcher Dies: How She Ended ‘Nanny State’
What did Margaret Thatcher do for Britain’s economy?
Margaret Thatcher dead: A look at her role as MP and mother
Sunrise: Remembering Margaret Thatcher
Sunrise: Margaret Thatcher: The early years
Margaret Thatcher – Thames Television – 1971 -1979
Margaret Thatcher, U.K. Prime Minster, Dies at 87
Margaret Thatcher concerned about “U.S. decline”
The Real Legacy of Margaret Thatcher, Britain’s Iron Lady
Mike Pattison | A former private secretary to Margaret Thatcher
Introducing Margaret Thatcher! 5 March 1975
MARGARET THATCHER book discussion “The Downing Street Years” 1993
Former prime minister Margaret Thatcher discussing her memoirs “The Downing Street Years” with Brian Lamb on 4 November 1993.
margaret thatcher on her path to power
mrs thatcher gives an interview on her early life
Margaret Thatcher on Socialism
Would Hayek Have Approved Obamacare?
Margaret Thatcher – Falklands War – YouTube
MARGARET THATCHER – Pt 1 The Making of Margaret (Telegraph Documentary)
MARGARET THATCHER – Pt 2 The Falklands (Telegraph Documentary)
MARGARET THATCHER – Pt 3 World Stage (Telegraph Documentary)
MARGARET THATCHER – Pt 4 The Age of Dissent (Telegraph Documentary)
MARGARET THATCHER – Pt 5 Taking on the Unions (Telegraph Documentary)
MARGARET THATCHER – Pt 6 Public Image, Private Life. (Telegraph Documentary)
MARGARET THATCHER – Pt 7 The Fall (Telegraph Documentary)
MARGARET THATCHER – Pt 8 The Legacy (Telegraph Documentary)
Thatcher: The Downing Street Years (1/4 BBC)
Thatcher: The Downing Street Years (2/4 BBC)
Thatcher: The Downing Street Years (3/4 BBC)
Thatcher: The Downing Street Years (4/4 BBC)
Margaret Thatcher – The Long Walk To Finchley Full Movie
Hitchens ’10: Margaret Thatcher & the Unions
Hitchens 2010: In Love with Argument
Margaret Thatcher – The Flame of Capitalism
1975 Oct 10 Fr
Margaret Thatcher
Speech to Conservative Party Conference
Document type:
speeches
Document kind:
Speech
Venue:
Winter Gardens, Blackpool
Source:
Thatcher Archive: speaking text
Journalist:
-
Editorial comments:
1045. MT spoke for 41 minute 16 seconds; the BBC Sound Archive has a complete recording. Evening Standard (10 October 1975) noted that the audience applauded every passage of the speech – not one was delivered without interruption. Parts of the text have been checked against material broadcast on ITN during the day.
Importance ranking:
Key
Word count:
3722
Themes:
Conservative Party (organisation), Autobiographical comments, Conservative Party (history), Economy (general discussions), Labour Party and Socialism, Economy (general discussions), Employment, Public spending and borrowing, Economy (general discussions), Labour Party and Socialism, Foreign policy (USSR and successor states), Foreign policy (Central and Eastern Europe), Economy (general discussions), Labour Party and Socialism, Higher and further education, Industry, Science and technology, Conservatism, Social security and welfare, Labour Party and Socialism, Industry, Conservatism, Labour Party and Socialism, Agriculture, Employment, Labour Party and Socialism, Conservatism, Secondary education, Health policy, Private health care, Labour Party and Socialism, Trade unions, British constitution (general discussions), Law and order, Labour Party and Socialism, Northern Ireland
Note by MT: “Relax. Low Speaking Voice. Not too slow”.
The first Conservative Party Conference I attended was in 1946.
I came to it as an undergraduate representing Oxford University Conservative Association (I know our Cambridge supporters will not mind.) That Conference was held in this very hall and the platform then seemed a long way away, and I had no thought of joining the lofty and distinguished people sitting up there.
But our Party is the Party of equality of opportunity—as you can see. (Laughter).[fo 1]
You will understand, I know, the humility I feel at following in the footsteps of great men like our Leader that year, Winston Churchill a man called by destiny who raised the name of Britain to supreme heights in the history of the free world. (Applause).
In the footsteps of Anthony Eden , who set us the goal of a property-owning democracy—a goal we still pursue today.(Applause).
Of Harold Macmillan whose leadership brought so many ambitions within the grasp of every citizen. (Applause).[fo 2]
Of Alec Douglas-Home whose career of selfless public service earned the affection and admiration of us all. (Applause).
And of Edward Heath who successfully led the Party to victory in 1970 and brilliantly led the nation into Europe in 1973. (Applause).
During my lifetime, all the leaders of the Conservative Party have served as Prime Minister. I hope the habit will continue. (Laughter)
Our leaders have been different men with different qualities and different styles. But they have one thing in common. Each met the challenge-of-his-time.[fo 3]
What is the challenge of our time?
I believe there are two—to overcome the country’s economic and financial problems, and to regain our confidence in Britain and ourselves.
The Economic Challenge
The economic challenge has been debated at length in this hall.
Last week it gave rise to the usual scenes of cordial brotherly strife.[fo 4]
Day after day the comrades called one another far from comradely names, and occasionally, when they remembered, they called us names too.
Some of them, for example, suggested that I criticised Britain when I was overseas. They are wrong.
It wasn’t Britain I was criticising. It was-Socialism. (Applause).
And I will go on criticising Socialism, and opposing Socialism because it is bad for Britain—and Britain and Socialism are not the same thing.[fo 5]
As long as I have health and strength, they never will be. (Applause).
But whatever could I say about Britain that is half as damaging as what this Labour Government have done to our country?
Let’s look at the record.
It is the Labour Government that have caused prices to rise at a record rate of 26 per cent a year.[fo 6]
They told us that the Social Contract would solve everything. But now everyone can see that the so-called contract was a fraud—a fraud for which the people of this country have had to pay a very high price.
It is the Labour Government whose policies are forcing unemployment higher than it need have been—thousands more men and women lose their jobs every day.
There are going to be men and women many of them youngsters straight out of school—who will be without a job this winter because Socialist Ministers spent last year attacking us, instead of attacking inflation.[fo 7]Beginning of section checked against ITN News at Ten, 10 October 1975:
And it’s the Labour Government that have brought the level of production below that of the 3-day week in 1974. W’ve really got a 3-day week now,—only it takes five days to do it. (Applause).
It’s the Labour Government that have brought us record peace-time taxation. They’ve got the usual Socialist disease—they’ve run out of other people’s money. (Laughter).
And it’s the Labour Government that have pushed public spending to record levels.
And how’ve they done it? By borrowing, and borrowing and borrowing.
Never in the field of human credit has so much been owed. (Laughter).End of section checked against ITN News at Ten, 10 October 1975.[fo 8]
But serious as the economic challenge is, the political and moral challenge is just as grave, perhaps more so.
POLITICAL AND MORAL CHALLENGE
Economic problems never start with economics. They have deeper roots—in human nature and in politics.
They don’t finish at economics either.
Labour’s failure to cope, to look at the nation’s problems from the point of view of the whole nation, not just one section of it, has led to loss of confidence and a sense of helplessness.[fo 9]
With it goes a feeling that Parliament, which ought to be in charge, is not in charge—that the actions and the decisions are taken elsewhere.
And it goes deeper than that. There are voices that seem anxious not to overcome our economic difficulties, but to exploit them, to destroy the free enterprise society and put a Marxist system in its place.
Today those voices form a sizeable chorus in the Parliamentary Labour Party. A chorus which, aided and abetted by many Constituency Labour Parties, seems to be growing in numbers.[fo 10]
Anyone who says this openly is promptly accused of seeing Reds Under the Bed.
But look who’s seeing them now!
On his own admission, Mr Wilson has at last discovered that his own Party is infiltrated by extreme left-wingers—or to use his own words it is infested with them.
When even Mr Wilson gets scared about their success in capturing key positions in the Labour Party, shouldn’t the rest of us be?[fo 11]
And shouldn’t the rest of us ask him “Where have you been while all this has been going on, and what are you doing about it?” (Applause). The answer is nothing.
I sometimes think the Labour Party is like a pub where the mild is running out. If someone doesn’t do something soon, all that’s left will be bitter. (Laughter). And all that’s bitter will be Left. (Laughter).
Whenever I visit Communist countries, their politicians never hesitate to boast about their achievements.[fo 12]
They know them all by heart and reel off the facts and figures, claiming that this is the rich harvest of the Communist system.
Yet they are not prosperous as we in the West are prosperous, and they are not free as we in the West are free.
Our capitalist system produces a far higher standard of prosperity and happiness because it believes in incentive and opportunity, and because it is founded on human dignity and freedom. (Applause).[fo 13]
Even the Russians have to go to a capitalist country, America to buy enough wheat to feed their people. And that aftermore than 50 years of a State controlled economy.
Yet they boast incessantly while we, who have so much more to boast about, forever criticise and decry.
Isn’t it time we spoke up for our way of life? (Applause) After all, no Western nation has to build a wall round itself to keep its people in. (Applause).[fo 14]
So let us have no truck with those who say the free enterprise system has failed. What we face today is not a crisis of capital ism, but of Socialism. No country can flourish if its economic and social life is dominated by nationalisation and state control.
The cause of our shortcomings does not therefore lie in private enterprise. Our problem is not that we have too little socialism. It is that we have too much.
If only the Labour Party in this country would act like Social Democrats in West Germany. If only they would stop trying to prove their Socialist virility by relentlessly nationalising one industry after another.[fo 15]
Of course, a halt to further State control will not on its own restore our belief in ourselves, because something else is happening to this country. We are witnessing a deliberate attack on our values, a deliberate attack on those who wish to promote merit and excellence, a deliberate attack on our heritage and great past. (Applause).Beginning of section checked against ITN News at Ten, 10 October 1975:
And there are those who gnaw away at our national self-respect, rewriting British history as centuries of unrelieved gloom, oppression and failure.
As days of hopelessness—not Days of Hope.[fo 16]
And others, under the shelter of our education system, are ruthlessly attacking the minds of the young. Everyone who believes in freedom must be appalled at the tactics employed by the far Left in the systematic destruction of the North London Polytechnic. (Applause).
Blatant tactics of intimidation, designed to undermine the fundamental beliefs and values of every student.
Tactics pursued by people who are the first to insist on their own civil rights while seeking to deny them to the rest of us. We must not be bullied and brainwashed out of our beliefs. (Applause).[fo 17]
No wonder so many of our people—some of the best and brightest—are depressed and talk of emigrating.
Even so, I think they are wrong at giving up too soon. Many of the things we hold dear are threatened as never before, but none has yet been lost.
So stay here. (Applause). Stay and help us defeat Socialism, so that the Britain you have known may be the Britain your children will know. (Applause).End of section checked against ITN News at Ten, 10 October 1975.[fo 18]
Those are the two great challenges of our time.
The moral and political challenge, and the economic challenge.
They have to be faced together—and we have to master them both.
POTENTIAL
What are our chances of success? It depends what kind of people we are. Well, what kind of people are we?[fo 19]
We are the people that in the past made Great Britain the Workshop of the World. The people who persuaded others to buy British not by begging them to do so, but because it was best.
We are a people who have received more Nobel prizes than any other nation except America, and head for head we have done better than America. Twice as well, in fact.
We are the people who, among other things, invented the computer, refrigerator, electric motor, stethoscope, rayon, steam turbine, stainless steel, the tank, television, penicillin, radar, jet engine, hovercraft, float glass and carbonfibres. Oh, and the best half of Concorde. (Laughter).[fo 20]
We export more of what we produce than either West Germany, France, Japan or the United States.
And well over 90%; of these exports come from private enterprise. It’s a triumph for the private sector and all who work in it. Let us say so, loud and clear. (Applause).
With achievements like that who can doubt that Britain can have a great future? What our friends abroad want to know is whether that future is going to happen.
Well, how can we Conservatives make it happen?[fo 21]
Many of the details have already been dealt with in the various debates. But policies and programmes should not be just a list of unrelated items. They are part of a total vision of the kind of life we want for our country and our children. [Beginning of section checked against ITN Early Evening News, 10 October 1975] Let me give you my vision.
THE FREE SOCIETY AND THE ECONOMY
A man’s right to work as he will to spend what he earns to own property to have the State as servant and not as master these are the British inheritance.
They are the essence of a free economy. And on that freedom all our other freedoms depend. (Applause).End of section checked against ITN Early Evening News, 10 October 1975.[fo 22]
But we want a free economy, not only because it guarantees our liberties, but also because it is the best way of creating wealth and prosperity for the whole country.
It is this prosperity alone which can give us the resources for better services for the community, better services for those in need. (Applause).
By their attack on private enterprise, this Labour Government have made certain that there will be next to nothing available for improvements in our social services over the next few years.[fo 23]
We must get private enterprise back on the road to recovery, not merely to give people more of their own money to spend as they choose, but to have more money to help the old and the sick and the handicapped.
The way to recovery is through profits. Good profits today, leading to high investment, well-paid jobs and a better standard of living tomorrow. (Applause).
No profits mean no investment, and a dying industry geared to yesterday’s world.
Other nations have recognised that for years now. They are going ahead faster than we are; and the gap between us will continue to increase unless we change our ways.[fo 24]
The trouble here is that for years the Labour Party have made people feel that profits are guilty-unless proved innocent.
But when I visit factories and businesses I do not find that those who actually work in them are against profits. On the contrary, they want to work for a prosperous concern. With a future—their future. (Applause).
Governments must learn to leave these companies with enough of their own profits to produce the goods and jobs for tomorrow.
If the Socialists won’t or can’t there will be no profit making industry left to support the losses caused by fresh bouts of nationalisation.[fo 25]
And if anyone says I am preaching laissez-faire, let me say this.
I am not arguing, and never have argued, that all we have to do is to let the economy run by itself.
I believe that, just as each of us has an obligation to make the best of his talents so governments have an obligation to create the framework within which we can do so. Not only individual people, but individual firms and particularly small firms. (Applause).
Some of these will stay small but others will expand and become the great companies of the future.[fo 26]
The Labour Government have pursued a disastrous vendetta against small businesses and the self-employed. We will reverse their damaging policies. (Applause).
Nowhere is this more important than in Agriculture—one of our most successful industries made up entirely of small businesses. We live in a world in which food is no longer cheap or plentiful. Everything we cannot produce here must be imported at a high price.
Yet the Government could not have destroyed the confidence of the industry more effectively if they had tried deliberately to do so, with their formula of empty promises and penal taxation.[fo 27]
So today what is the picture? Depressed profits, low investment, no incentive, and overshadowing everything government spending, spending far beyond the taxpayers means. (Applause).
To recover, to get from where we are to where we want to be, will take time.
“Economic policy” wrote Maynard Keynes “should not be a matter of tearing up by the roots but of slowly training a plant to grow in a different direction.”[fo 28]
It will take time to reduce public spending, rebuild profits and incentives, to benefit from the investments which must be made. The sooner that time starts, the better for Britain’s unemployed.
One of the reasons why this Labour Government has incurred more unemployment than any Conservative Government since the War is because they have concentrated too much on distributing what we have, and too little on seeing that we have more. (Applause).[fo 29]
We Conservatives hate unemployment.
We hate the idea of men and women not being able to use their abilities. We deplore the waste of national resources, and the deep affront to peoples’ dignity from being out of work through no fault of their own. (Applause).
It is ironic that we should be accused of wanting unemployment to solve our economic problems by the very Government which has produced a record post-War unemployment, and is expecting more.[fo 30]
The record of Mr Wilson and his colleagues on this is unparallelled in the history of political hypocricy.
We are now seeing the full consequences of nearly twenty months of Labour Government.
They have done the wrong things at the wrong time in the wrong way.
They have been a disaster for this country.[fo 31]
EQUALITY
Now let me turn to something I spoke about in America.
Some Socialists seem to believe that people should be numbers in a State computer. We believe they should be individuals.
We are all unequal. No one, thank heavens, is like anyone else, however much the Socialists may pretend otherwise.
We believe that everyone has the right to be unequal but to us every human being is equally important.[fo 32]
Engineers, miners, manual workers, shop assistants, farm workers, postmen, housewives—these are the essential foundations of our society. Without them there would be no nation. (Applause).
But their are others with special gifts who should also have their chance, because if the adventurers who strike out in new directions in science, technology, medicine, commerce and industry the arts are hobbled, there can be no advance.
The spirit of envy can destroy. It can never build.[fo 33]
Everyone must be allowed to develop the abilities he knows he has within him, and she knows she has within her, in the way they choose.
CHOICE
Freedom to choose is something we take for granted—until it is in danger of being taken away.
Socialist governments set out perpetually to restrict the area of choice, Conservative governments to increase it.
We believe that you become a responsible citizen by making decisions yourself, not by having them made for you.[fo 34]
But they are made for you under Labour all right.
Take education.
Beginning of section checked against ITN News at Ten, 10 October 1975:
Our education system used to serve us well. A child from an ordinary family, as I was, could use it as a ladder as an advancement.
But the Socialists are better at demolition than reconstruction, are destroying many good grammar schools.
Now this is nothing to do with private education. It’s opportunity and excellence in our State schools that are being diminished under Socialism.
And naturally enough, parents don’t like this. But in a Socialist society parents should be seen and not heard. (Laughter).[fo 35]
And another denial of choice is being applied to health.
The private sector helps to keep some of our best doctors here, and so are available part time to the National Health Service. It also helps to bring in more money for the general health of the nation.
But under Labour, private medicine is being squeezed out, and the result will be to add to the burden on the National Health Service without adding one penny to its income.[fo 36]
Let me make this absolutely clear.
When we return to power we shall reverse Mrs Castle ‘s stupid and spiteful attack on hospital pay beds. (Applause).
We Conservatives do not accept that because some people have no choice, no one should have it.
Every family should have the right to spend their money, after tax, as they wish, not as the Government dictates.End of section checked against ITN News at Ten, 10 October 1975.
Let us extend choice, the will to choose and the chance to choose.[fo 37]
TRADE UNIONS
I want to come now to the argument which Mr Wilson is trying to put across the country: namely that the Labour Party is the natural party of Government because it is the only one that the Trade Unions will accept.
From what I saw on television last week, the Labour Party did not look like a party of Government at all, let alone a natural one.
But let’s examine the argument.Beginning of section checked against ITN First Report, 10 October 1975
If we are to be told that a Conservative Government could not govern because certain extreme leaders would not let it, then General Elections are a mockery we’ve arrived at[fo 38] the one party state, and parliamentary democracy in this country will have perished. (Applause).
The democracy for which our fathers fought and died is not to be laid to rest as lightly as that.
When the next Conservative Government comes to power many Trade Unionists will have put it there. Millions of them vote for us at every Election.
I want to say this to them, and to every one of our supporters in industry.[fo 39]
Go out and join in the work of your Union.
Go to its meetings—and stay to the end.
Learn the Union rules as well as the Far Left know them, and remember this. If Parliamentary democracy dies, free Trade Unions die with it. (Applause).End of section checked against ITN First Report, 10 October 1975.[fo 40]
RULE OF LAW
I come last to what many would put first. The Rule of Law.
The first people to uphold the law should be governments. It is tragic that the Socialist Government, to its lasting shame, should have lost its nerve and shed its principles over the People’s Republic of Clay Cross. And that a group of the Labour Party should have tried to turn the Shrewsbury pickets into martyrs.
On both occasions the law was broken. On one, violence was done.[fo 41]No decent society can live like that. No responsible party should condone it. (Applause).
The first duty of Government is to uphold the law. If it tries to bob and weave and duck around that duty when its inconvenient, if government does that, then so will the governed, and then nothing is safe—not home, not liberty, not life itself.
There is one part of this country where tragically defiance of the law is costing life day after day.[fo 42]
In Northern Ireland our troops have the dangerous and thankless task of trying to keep the peace and hold the balance. We are proud of the way they have discharged their duty.
This Party is pledged to support the unity of the United Kingdom. To preserve that unity and to protect the people, Catholic and Protestant alike, we believe that our armed forces must remain until a genuine peace is made.
Our thoughts are with them, and our pride is with them too. (Applause).[fo 43]
I have spoken of the challenges that face us here in Britain. The challenge to recover economically. The challenge to recover our belief in ourselves.
I have shown our potential for recovery.
I have dealt with some aspects of our strength and approach.
And I have tried to tell you something of my personal vision, my belief in the standards on which this nation was greatly built, on which it greatly thrived, and from which in recent years it has greatly fallen away.[fo 44]
We are coming, I think, to yet another turning point in our long history.
We can go on as we have been going and continue down.
Or we can stop—and with a decisive act of will we can say “Enough”.
Let us, all of us, here today and others, far beyond this hall who believe in our cause make that act of will.
Let us proclaim our faith in a new and better future for our Party and our people.[fo 45]
Let us resolve to heal the wounds of a divided nation.
And let that act of healing be the prelude to a lasting victory. (Prolonged applause).
John Brennan: The Nexus of Torture and Drone Assassinations
America’s War Drones Kill Over 800 Civilians – 200 Children – Casualties Of War
Obama Kill List Exposed: Leaked Drone Memo; Assassination of U.S. Citizens
Drone Strike Kills 4 In Pakistan
Attack of the Drones – USA
Rise of the Machines – USA
Pentagon drones flying domestic; declaring war on your privacy?
Congress launches ‘Attack of the drones’
By Michael Isikoff National Investigative Correspondent, NBC News
A confidential Justice Department memo concludes that the U.S. government can order the killing of American citizens if they are believed to be “senior operational leaders” of al-Qaida or “an associated force” — even if there is no intelligence indicating they are engaged in an active plot to attack the U.S.
The 16-page memo, a copy of which was obtained by NBC News, provides new details about the legal reasoning behind one of the Obama administration’s most secretive and controversial polices: its dramatically increased use of drone strikes against al-Qaida suspects abroad, including those aimed at American citizens, such as the September 2011 strike in Yemen that killed alleged al-Qaida operatives Anwar al-Awlaki and Samir Khan. Both were U.S. citizens who had never been indicted by the U.S. government nor charged with any crimes.
The secrecy surrounding such strikes is fast emerging as a central issue in this week’s hearing of White House counterterrorism adviser John Brennan, a key architect of the drone campaign, to be CIA director. Brennan was the first administration official to publicly acknowledge drone strikes in a speech last year, calling them “consistent with the inherent right of self-defense.” In a separate talk at the Northwestern University Law School in March, Attorney General Eric Holder specifically endorsed the constitutionality of targeted killings of Americans, saying they could be justified if government officials determine the target poses “an imminent threat of violent attack.”
But the confidential Justice Department “white paper” introduces a more expansive definition of self-defense or imminent attack than described by Brennan or Holder in their public speeches. It refers, for example, to what it calls a “broader concept of imminence” than actual intelligence about any ongoing plot against the U.S. homeland.
Michael Isikoff, national investigative correspondent for NBC News, talks with Rachel Maddow about a newly obtained, confidential Department of Justice white paper that hints at the details of a secret White House memo that explains the legal justifications for targeted drone strikes that kill Americans without trial in the name of national security.
“The condition that an operational leader present an ‘imminent’ threat of violent attack against the United States does not require the United States to have clear evidence that a specific attack on U.S. persons and interests will take place in the immediate future,” the memo states.
Instead, it says, an “informed, high-level” official of the U.S. government may determine that the targeted American has been “recently” involved in “activities” posing a threat of a violent attack and “there is no evidence suggesting that he has renounced or abandoned such activities.” The memo does not define “recently” or “activities.”
As in Holder’s speech, the confidential memo lays out a three-part test that would make targeted killings of American lawful: In addition to the suspect being an imminent threat, capture of the target must be “infeasible, and the strike must be conducted according to “law of war principles.” But the memo elaborates on some of these factors in ways that go beyond what the attorney general said publicly. For example, it states that U.S. officials may consider whether an attempted capture of a suspect would pose an “undue risk” to U.S. personnel involved in such an operation. If so, U.S. officials could determine that the capture operation of the targeted American would not be feasible, making it lawful for the U.S. government to order a killing instead, the memo concludes.
The undated memo is entitled “Lawfulness of a Lethal Operation Directed Against a U.S. Citizen who is a Senior Operational Leader of Al Qa’ida or An Associated Force.” It was provided to members of the Senate Intelligence and Judiciary committees in June by administration officials on the condition that it be kept confidential and not discussed publicly.
Although not an official legal memo, the white paper was represented by administration officials as a policy document that closely mirrors the arguments of classified memos on targeted killings by the Justice Department’s Office of Legal Counsel, which provides authoritative legal advice to the president and all executive branch agencies. The administration has refused to turn over to Congress or release those memos publicly — or even publicly confirm their existence. A source with access to the white paper, which is not classified, provided a copy to NBC News.
“This is a chilling document,” said Jameel Jaffer, deputy legal director of the ACLU, which is suing to obtain administration memos about the targeted killing of Americans. “Basically, it argues that the government has the right to carry out the extrajudicial killing of an American citizen. … It recognizes some limits on the authority it sets out, but the limits are elastic and vaguely defined, and it’s easy to see how they could be manipulated.”
In particular, Jaffer said, the memo “redefines the word imminence in a way that deprives the word of its ordinary meaning.”
A Justice Department spokeswoman declined to comment on the white paper. The spokeswoman, Tracy Schmaler, instead pointed to public speeches by what she called a “parade” of administration officials, including Brennan, Holder, former State Department Legal Adviser Harold Koh and former Defense Department General Counsel Jeh Johnson that she said outlined the “legal framework” for such operations.
Pressure for turning over the Justice Department memos on targeted killings of Americans appears to be building on Capitol Hill amid signs that Brennan will be grilled on the subject at his confirmation hearing before the Senate Intelligence Committee on Thursday.
On Monday, a bipartisan group of 11 senators — led by Democrat Ron Wyden of Oregon — wrote a letter to President Barack Obama asking him to release all Justice Department memos on the subject. While accepting that “there will clearly be circumstances in which the president has the authority to use lethal force” against Americans who take up arms against the country, it said, “It is vitally important … for Congress and the American public to have a full understanding of how the executive branch interprets the limits and boundaries of this authority.”
The completeness of the administration’s public accounts of its legal arguments was also sharply criticized last month by U.S. Judge Colleen McMahon in response to a lawsuit brought by the New York Times and the ACLU seeking access to the Justice Department memos on drone strikes targeting Americans under the Freedom of Information Act. McMahon, describing herself as being caught in a “veritable Catch-22,” said she was unable to order the release of the documents given “the thicket of laws and precedents that effectively allow the executive branch of our government to proclaim as perfectly lawful certain actions that seem on their face incompatible with our Constitution and laws while keeping the reasons for the conclusion a secret.”
In her ruling, McMahon noted that administration officials “had engaged in public discussion of the legality of targeted killing, even of citizens.” But, she wrote, they have done so “in cryptic and imprecise ways, generally without citing … any statute or court decision that justifies its conclusions.”
In one passage in Holder’s speech at Northwestern in March, he alluded – without spelling out—that there might be circumstances where the president might order attacks against American citizens without specific knowledge of when or where an attack against the U.S. might take place.
“The Constitution does not require the president to delay action until some theoretical end-stage of planning, when the precise time, place and manner of an attack become clear,” he said.
But his speech did not contain the additional language in the white paper suggesting that no active intelligence about a specific attack is needed to justify a targeted strike. Similarly, Holder said in his speech that targeted killings of Americans can be justified if “capture is not feasible.” But he did not include language in the white paper saying that an operation might not be feasible “if it could not be physically effectuated during the relevant window of opportunity or if the relevant country (where the target is located) were to decline to consent to a capture operation.” The speech also made no reference to the risk that might be posed to U.S. forces seeking to capture a target, as was mentioned in the white paper.
The white paper also includes a more extensive discussion of why targeted strikes against Americans does not violate constitutional protections afforded American citizens as well as a U.S. law that criminalizes the killing of U.S. nationals overseas.
It also discusses why such targeted killings would not be a war crime or violate a U.S. executive order banning assassinations.
“A lawful killing in self-defense is not an assassination,” the white paper reads. “In the Department’s view, a lethal operation conducted against a U.S. citizen whose conduct poses an imminent threat of violent attack against the United States would be a legitimate act of national self-defense that would not violate the assassination ban. Similarly, the use of lethal force, consistent with the laws of war, against an individual who is a legitimate military target would be lawful and would not violate the assassination ban.”
Ask the experts: Drones
By Sydney Sarachan
“…How precise are drone attacks?RC: Pretty precise is my understanding. If you think about it, a drone pilot first sits outside of a structure doing surveillance for a long time. Upon getting the order, he or she delivers the missile from relatively nearby. That is why some experts (for instance, American University’s Kenneth Anderson) argue that drones strikes may be more consistent with limits on collateral damage. It may also explain higher observed rates of PTSD (Post-Traumatic Stress Disorder) in drone pilots. Of course, even manned missile attacks are often preceded by on-the-ground reconnaissance that paints a specific target.CF: This depends upon the kind of drone attack. In Pakistan’s FATA (Federally Administered Tribal Areas) they are all intelligence-led (as opposed to “troops in contact”). On this, please see the other pieces I have written on this: Drone Wars and Drones Over Pakistan – Menace or Best Viable Option?JF:Drones are extremely precise. The debate over their use has been whether they are accurate: whether they target the right people. In terms of precision, they do hit the targets we give them very consistently, we just don’t always know who that target is.RN: Since the answer to this question depends on how many civilians are killed or injured for each targeted “militant” who has been killed, it can’t be answered without answering the question of how many civilian casualties there have been.NW: Although missiles launched from drones may be more precise than some other weapons systems, they are known to have caused the deaths of hundreds of civilian bystanders. The issue is less one of technical precision than it is the standards under which the U.S. government decides who may be targeted and how it protects civilian bystanders from death or injury, as it is required to do under international law. Outside the context of armed conflict, the use of lethal force is illegal unless it is a last resort to avert a concrete, specific, and imminent threat. Further, the government is obligated to take all feasible precautions to protect civilian bystanders from harm. But those aren’t the standards that the government is using. The New York Times has reported that the U.S. “counts all military-age males in a strike zone as combatants unless there is explicit intelligence posthumously proving them innocent.” Regardless of the theoretical precision of drone attacks, when the government uses such flawed reasoning it will inevitably cause civilian bystander deaths, in violation of international law. …”
Rand Paul Gives The Tea Party Response To The President’s State of the Union Address
Marco Rubio – 2013 State of the Union – GOP Response w/ Water Break (12:01) (English)
Transcript: Obama’s State Of The Union Address As Prepared For Delivery
Mr. Speaker, Mr. Vice President, Members of Congress, fellow citizens:
Fifty-one years ago, John F. Kennedy declared to this Chamber that “the Constitution makes us not rivals for power but partners for progress…It is my task,” he said, “to report the State of the Union – to improve it is the task of us all.”
Tonight, thanks to the grit and determination of the American people, there is much progress to report. After a decade of grinding war, our brave men and women in uniform are coming home. After years of grueling recession, our businesses have created over six million new jobs. We buy more American cars than we have in five years, and less foreign oil than we have in twenty. Our housing market is healing, our stock market is rebounding, and consumers, patients, and homeowners enjoy stronger protections than ever before.
Together, we have cleared away the rubble of crisis, and can say with renewed confidence that the state of our union is stronger.
But we gather here knowing that there are millions of Americans whose hard work and dedication have not yet been rewarded. Our economy is adding jobs – but too many people still can’t find full-time employment. Corporate profits have rocketed to all-time highs – but for more than a decade, wages and incomes have barely budged.
It is our generation’s task, then, to reignite the true engine of America’s economic growth – a rising, thriving middle class.
It is our unfinished task to restore the basic bargain that built this country – the idea that if you work hard and meet your responsibilities, you can get ahead, no matter where you come from, what you look like, or who you love.
It is our unfinished task to make sure that this government works on behalf of the many, and not just the few; that it encourages free enterprise, rewards individual initiative, and opens the doors of opportunity to every child across this great nation.
The American people don’t expect government to solve every problem. They don’t expect those of us in this chamber to agree on every issue. But they do expect us to put the nation’s interests before party. They do expect us to forge reasonable compromise where we can. For they know that America moves forward only when we do so together; and that the responsibility of improving this union remains the task of us all.
Our work must begin by making some basic decisions about our budget – decisions that will have a huge impact on the strength of our recovery.
Over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion – mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of Americans. As a result, we are more than halfway towards the goal of $4 trillion in deficit reduction that economists say we need to stabilize our finances.
Now we need to finish the job. And the question is, how?
In 2011, Congress passed a law saying that if both parties couldn’t agree on a plan to reach our deficit goal, about a trillion dollars’ worth of budget cuts would automatically go into effect this year. These sudden, harsh, arbitrary cuts would jeopardize our military readiness. They’d devastate priorities like education, energy, and medical research. They would certainly slow our recovery, and cost us hundreds of thousands of jobs. That’s why Democrats, Republicans, business leaders, and economists have already said that these cuts, known here in Washington as “the sequester,” are a really bad idea.
Now, some in this Congress have proposed preventing only the defense cuts by making even bigger cuts to things like education and job training; Medicare and Social Security benefits.
That idea is even worse. Yes, the biggest driver of our long-term debt is the rising cost of health care for an aging population. And those of us who care deeply about programs like Medicare must embrace the need for modest reforms – otherwise, our retirement programs will crowd out the investments we need for our children, and jeopardize the promise of a secure retirement for future generations.
But we can’t ask senior citizens and working families to shoulder the entire burden of deficit reduction while asking nothing more from the wealthiest and most powerful. We won’t grow the middle class simply by shifting the cost of health care or college onto families that are already struggling, or by forcing communities to lay off more teachers, cops, and firefighters. Most Americans – Democrats, Republicans, and Independents – understand that we can’t just cut our way to prosperity. They know that broad-based economic growth requires a balanced approach to deficit reduction, with spending cuts and revenue, and with everybody doing their fair share. And that’s the approach I offer tonight.
On Medicare, I’m prepared to enact reforms that will achieve the same amount of health care savings by the beginning of the next decade as the reforms proposed by the bipartisan Simpson-Bowles commission. Already, the Affordable Care Act is helping to slow the growth of health care costs. The reforms I’m proposing go even further. We’ll reduce taxpayer subsidies to prescription drug companies and ask more from the wealthiest seniors. We’ll bring down costs by changing the way our government pays for Medicare, because our medical bills shouldn’t be based on the number of tests ordered or days spent in the hospital – they should be based on the quality of care that our seniors receive. And I am open to additional reforms from both parties, so long as they don’t violate the guarantee of a secure retirement. Our government shouldn’t make promises we cannot keep – but we must keep the promises we’ve already made.
To hit the rest of our deficit reduction target, we should do what leaders in both parties have already suggested, and save hundreds of billions of dollars by getting rid of tax loopholes and deductions for the well-off and well-connected. After all, why would we choose to make deeper cuts to education and Medicare just to protect special interest tax breaks? How is that fair? How does that promote growth?
Now is our best chance for bipartisan, comprehensive tax reform that encourages job creation and helps bring down the deficit. The American people deserve a tax code that helps small businesses spend less time filling out complicated forms, and more time expanding and hiring; a tax code that ensures billionaires with high-powered accountants can’t pay a lower rate than their hard-working secretaries; a tax code that lowers incentives to move jobs overseas, and lowers tax rates for businesses and manufacturers that create jobs right here in America. That’s what tax reform can deliver. That’s what we can do together.
I realize that tax reform and entitlement reform won’t be easy. The politics will be hard for both sides. None of us will get 100 percent of what we want. But the alternative will cost us jobs, hurt our economy, and visit hardship on millions of hardworking Americans. So let’s set party interests aside, and work to pass a budget that replaces reckless cuts with smart savings and wise investments in our future. And let’s do it without the brinksmanship that stresses consumers and scares off investors. The greatest nation on Earth cannot keep conducting its business by drifting from one manufactured crisis to the next. Let’s agree, right here, right now, to keep the people’s government open, pay our bills on time, and always uphold the full faith and credit of the United States of America. The American people have worked too hard, for too long, rebuilding from one crisis to see their elected officials cause another.
Now, most of us agree that a plan to reduce the deficit must be part of our agenda. But let’s be clear: deficit reduction alone is not an economic plan. A growing economy that creates good, middle-class jobs – that must be the North Star that guides our efforts. Every day, we should ask ourselves three questions as a nation: How do we attract more jobs to our shores? How do we equip our people with the skills needed to do those jobs? And how do we make sure that hard work leads to a decent living?
A year and a half ago, I put forward an American Jobs Act that independent economists said would create more than one million new jobs. I thank the last Congress for passing some of that agenda, and I urge this Congress to pass the rest. Tonight, I’ll lay out additional proposals that are fully paid for and fully consistent with the budget framework both parties agreed to just 18 months ago. Let me repeat – nothing I’m proposing tonight should increase our deficit by a single dime. It’s not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth.
Our first priority is making America a magnet for new jobs and manufacturing.
After shedding jobs for more than 10 years, our manufacturers have added about 500,000 jobs over the past three. Caterpillar is bringing jobs back from Japan. Ford is bringing jobs back from Mexico. After locating plants in other countries like China, Intel is opening its most advanced plant right here at home. And this year, Apple will start making Macs in America again.
There are things we can do, right now, to accelerate this trend. Last year, we created our first manufacturing innovation institute in Youngstown, Ohio. A once-shuttered warehouse is now a state-of-the art lab where new workers are mastering the 3D printing that has the potential to revolutionize the way we make almost everything. There’s no reason this can’t happen in other towns. So tonight, I’m announcing the launch of three more of these manufacturing hubs, where businesses will partner with the Departments of Defense and Energy to turn regions left behind by globalization into global centers of high-tech jobs. And I ask this Congress to help create a network of fifteen of these hubs and guarantee that the next revolution in manufacturing is Made in America.
If we want to make the best products, we also have to invest in the best ideas. Every dollar we invested to map the human genome returned $140 to our economy. Today, our scientists are mapping the human brain to unlock the answers to Alzheimer’s; developing drugs to regenerate damaged organs; devising new material to make batteries ten times more powerful. Now is not the time to gut these job-creating investments in science and innovation. Now is the time to reach a level of research and development not seen since the height of the Space Race. And today, no area holds more promise than our investments in American energy.
After years of talking about it, we are finally poised to control our own energy future. We produce more oil at home than we have in 15 years. We have doubled the distance our cars will go on a gallon of gas, and the amount of renewable energy we generate from sources like wind and solar – with tens of thousands of good, American jobs to show for it. We produce more natural gas than ever before – and nearly everyone’s energy bill is lower because of it. And over the last four years, our emissions of the dangerous carbon pollution that threatens our planet have actually fallen.
But for the sake of our children and our future, we must do more to combat climate change. Yes, it’s true that no single event makes a trend. But the fact is, the 12 hottest years on record have all come in the last 15. Heat waves, droughts, wildfires, and floods – all are now more frequent and intense. We can choose to believe that Superstorm Sandy, and the most severe drought in decades, and the worst wildfires some states have ever seen were all just a freak coincidence. Or we can choose to believe in the overwhelming judgment of science – and act before it’s too late.
The good news is, we can make meaningful progress on this issue while driving strong economic growth. I urge this Congress to pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago. But if Congress won’t act soon to protect future generations, I will. I will direct my Cabinet to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy.
Four years ago, other countries dominated the clean energy market and the jobs that came with it. We’ve begun to change that. Last year, wind energy added nearly half of all new power capacity in America. So let’s generate even more. Solar energy gets cheaper by the year – so let’s drive costs down even further. As long as countries like China keep going all-in on clean energy, so must we.
In the meantime, the natural gas boom has led to cleaner power and greater energy independence. That’s why my Administration will keep cutting red tape and speeding up new oil and gas permits. But I also want to work with this Congress to encourage the research and technology that helps natural gas burn even cleaner and protects our air and water.
Indeed, much of our new-found energy is drawn from lands and waters that we, the public, own together. So tonight, I propose we use some of our oil and gas revenues to fund an Energy Security Trust that will drive new research and technology to shift our cars and trucks off oil for good. If a non-partisan coalition of CEOs and retired generals and admirals can get behind this idea, then so can we. Let’s take their advice and free our families and businesses from the painful spikes in gas prices we’ve put up with for far too long. I’m also issuing a new goal for America: let’s cut in half the energy wasted by our homes and businesses over the next twenty years. The states with the best ideas to create jobs and lower energy bills by constructing more efficient buildings will receive federal support to help make it happen.
America’s energy sector is just one part of an aging infrastructure badly in need of repair. Ask any CEO where they’d rather locate and hire: a country with deteriorating roads and bridges, or one with high-speed rail and internet; high-tech schools and self-healing power grids. The CEO of Siemens America – a company that brought hundreds of new jobs to North Carolina – has said that if we upgrade our infrastructure, they’ll bring even more jobs. And I know that you want these job-creating projects in your districts. I’ve seen you all at the ribbon-cuttings.
Tonight, I propose a “Fix-It-First” program to put people to work as soon as possible on our most urgent repairs, like the nearly 70,000 structurally deficient bridges across the country. And to make sure taxpayers don’t shoulder the whole burden, I’m also proposing a Partnership to Rebuild America that attracts private capital to upgrade what our businesses need most: modern ports to move our goods; modern pipelines to withstand a storm; modern schools worthy of our children. Let’s prove that there is no better place to do business than the United States of America. And let’s start right away.
Part of our rebuilding effort must also involve our housing sector. Today, our housing market is finally healing from the collapse of 2007. Home prices are rising at the fastest pace in six years, home purchases are up nearly 50 percent, and construction is expanding again.
But even with mortgage rates near a 50-year low, too many families with solid credit who want to buy a home are being rejected. Too many families who have never missed a payment and want to refinance are being told no. That’s holding our entire economy back, and we need to fix it. Right now, there’s a bill in this Congress that would give every responsible homeowner in America the chance to save $3,000 a year by refinancing at today’s rates. Democrats and Republicans have supported it before. What are we waiting for? Take a vote, and send me that bill. Right now, overlapping regulations keep responsible young families from buying their first home. What’s holding us back? Let’s streamline the process, and help our economy grow.
These initiatives in manufacturing, energy, infrastructure, and housing will help entrepreneurs and small business owners expand and create new jobs. But none of it will matter unless we also equip our citizens with the skills and training to fill those jobs. And that has to start at the earliest possible age.
Study after study shows that the sooner a child begins learning, the better he or she does down the road. But today, fewer than 3 in 10 four year-olds are enrolled in a high-quality preschool program. Most middle-class parents can’t afford a few hundred bucks a week for private preschool. And for poor kids who need help the most, this lack of access to preschool education can shadow them for the rest of their lives.
Tonight, I propose working with states to make high-quality preschool available to every child in America. Every dollar we invest in high-quality early education can save more than seven dollars later on – by boosting graduation rates, reducing teen pregnancy, even reducing violent crime. In states that make it a priority to educate our youngest children, like Georgia or Oklahoma, studies show students grow up more likely to read and do math at grade level, graduate high school, hold a job, and form more stable families of their own. So let’s do what works, and make sure none of our children start the race of life already behind. Let’s give our kids that chance.
Let’s also make sure that a high school diploma puts our kids on a path to a good job. Right now, countries like Germany focus on graduating their high school students with the equivalent of a technical degree from one of our community colleges, so that they’re ready for a job. At schools like P-Tech in Brooklyn, a collaboration between New York Public Schools, the City University of New York, and IBM, students will graduate with a high school diploma and an associate degree in computers or engineering.
We need to give every American student opportunities like this. Four years ago, we started Race to the Top – a competition that convinced almost every state to develop smarter curricula and higher standards, for about 1 percent of what we spend on education each year. Tonight, I’m announcing a new challenge to redesign America’s high schools so they better equip graduates for the demands of a high-tech economy. We’ll reward schools that develop new partnerships with colleges and employers, and create classes that focus on science, technology, engineering, and math – the skills today’s employers are looking for to fill jobs right now and in the future.
Now, even with better high schools, most young people will need some higher education. It’s a simple fact: the more education you have, the more likely you are to have a job and work your way into the middle class. But today, skyrocketing costs price way too many young people out of a higher education, or saddle them with unsustainable debt.
Through tax credits, grants, and better loans, we have made college more affordable for millions of students and families over the last few years. But taxpayers cannot continue to subsidize the soaring cost of higher education. Colleges must do their part to keep costs down, and it’s our job to make sure they do. Tonight, I ask Congress to change the Higher Education Act, so that affordability and value are included in determining which colleges receive certain types of federal aid. And tomorrow, my Administration will release a new “College Scorecard” that parents and students can use to compare schools based on a simple criteria: where you can get the most bang for your educational buck.
To grow our middle class, our citizens must have access to the education and training that today’s jobs require. But we also have to make sure that America remains a place where everyone who’s willing to work hard has the chance to get ahead.
Our economy is stronger when we harness the talents and ingenuity of striving, hopeful immigrants. And right now, leaders from the business, labor, law enforcement, and faith communities all agree that the time has come to pass comprehensive immigration reform.
Real reform means strong border security, and we can build on the progress my Administration has already made – putting more boots on the southern border than at any time in our history, and reducing illegal crossings to their lowest levels in 40 years.
Real reform means establishing a responsible pathway to earned citizenship – a path that includes passing a background check, paying taxes and a meaningful penalty, learning English, and going to the back of the line behind the folks trying to come here legally.
And real reform means fixing the legal immigration system to cut waiting periods, reduce bureaucracy, and attract the highly-skilled entrepreneurs and engineers that will help create jobs and grow our economy.
In other words, we know what needs to be done. As we speak, bipartisan groups in both chambers are working diligently to draft a bill, and I applaud their efforts. Now let’s get this done. Send me a comprehensive immigration reform bill in the next few months, and I will sign it right away.
But we can’t stop there. We know our economy is stronger when our wives, mothers, and daughters can live their lives free from discrimination in the workplace, and free from the fear of domestic violence. Today, the Senate passed the Violence Against Women Act that Joe Biden originally wrote almost 20 years ago. I urge the House to do the same. And I ask this Congress to declare that women should earn a living equal to their efforts, and finally pass the Paycheck Fairness Act this year.
We know our economy is stronger when we reward an honest day’s work with honest wages. But today, a full-time worker making the minimum wage earns $14,500 a year. Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. That’s why, since the last time this Congress raised the minimum wage, nineteen states have chosen to bump theirs even higher.
Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets. In fact, working folks shouldn’t have to wait year after year for the minimum wage to go up while CEO pay has never been higher. So here’s an idea that Governor Romney and I actually agreed on last year: let’s tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.
Tonight, let’s also recognize that there are communities in this country where no matter how hard you work, it’s virtually impossible to get ahead. Factory towns decimated from years of plants packing up. Inescapable pockets of poverty, urban and rural, where young adults are still fighting for their first job. America is not a place where chance of birth or circumstance should decide our destiny. And that is why we need to build new ladders of opportunity into the middle class for all who are willing to climb them.
Let’s offer incentives to companies that hire Americans who’ve got what it takes to fill that job opening, but have been out of work so long that no one will give them a chance. Let’s put people back to work rebuilding vacant homes in run-down neighborhoods. And this year, my Administration will begin to partner with 20 of the hardest-hit towns in America to get these communities back on their feet. We’ll work with local leaders to target resources at public safety, education, and housing. We’ll give new tax credits to businesses that hire and invest. And we’ll work to strengthen families by removing the financial deterrents to marriage for low-income couples, and doing more to encourage fatherhood – because what makes you a man isn’t the ability to conceive a child; it’s having the courage to raise one.
Stronger families. Stronger communities. A stronger America. It is this kind of prosperity – broad, shared, and built on a thriving middle class – that has always been the source of our progress at home. It is also the foundation of our power and influence throughout the world.
Tonight, we stand united in saluting the troops and civilians who sacrifice every day to protect us. Because of them, we can say with confidence that America will complete its mission in Afghanistan, and achieve our objective of defeating the core of al Qaeda. Already, we have brought home 33,000 of our brave servicemen and women. This spring, our forces will move into a support role, while Afghan security forces take the lead. Tonight, I can announce that over the next year, another 34,000 American troops will come home from Afghanistan. This drawdown will continue. And by the end of next year, our war in Afghanistan will be over.
Beyond 2014, America’s commitment to a unified and sovereign Afghanistan will endure, but the nature of our commitment will change. We are negotiating an agreement with the Afghan government that focuses on two missions: training and equipping Afghan forces so that the country does not again slip into chaos, and counter-terrorism efforts that allow us to pursue the remnants of al Qaeda and their affiliates.
Today, the organization that attacked us on 9/11 is a shadow of its former self. Different al Qaeda affiliates and extremist groups have emerged – from the Arabian Peninsula to Africa. The threat these groups pose is evolving. But to meet this threat, we don’t need to send tens of thousands of our sons and daughters abroad, or occupy other nations. Instead, we will need to help countries like Yemen, Libya, and Somalia provide for their own security, and help allies who take the fight to terrorists, as we have in Mali. And, where necessary, through a range of capabilities, we will continue to take direct action against those terrorists who pose the gravest threat to Americans.
As we do, we must enlist our values in the fight. That is why my Administration has worked tirelessly to forge a durable legal and policy framework to guide our counterterrorism operations. Throughout, we have kept Congress fully informed of our efforts. I recognize that in our democracy, no one should just take my word that we’re doing things the right way. So, in the months ahead, I will continue to engage with Congress to ensure not only that our targeting, detention, and prosecution of terrorists remains consistent with our laws and system of checks and balances, but that our efforts are even more transparent to the American people and to the world.
Of course, our challenges don’t end with al Qaeda. America will continue to lead the effort to prevent the spread of the world’s most dangerous weapons. The regime in North Korea must know that they will only achieve security and prosperity by meeting their international obligations. Provocations of the sort we saw last night will only isolate them further, as we stand by our allies, strengthen our own missile defense, and lead the world in taking firm action in response to these threats.
Likewise, the leaders of Iran must recognize that now is the time for a diplomatic solution, because a coalition stands united in demanding that they meet their obligations, and we will do what is necessary to prevent them from getting a nuclear weapon. At the same time, we will engage Russia to seek further reductions in our nuclear arsenals, and continue leading the global effort to secure nuclear materials that could fall into the wrong hands – because our ability to influence others depends on our willingness to lead.
America must also face the rapidly growing threat from cyber-attacks. We know hackers steal people’s identities and infiltrate private e-mail. We know foreign countries and companies swipe our corporate secrets. Now our enemies are also seeking the ability to sabotage our power grid, our financial institutions, and our air traffic control systems. We cannot look back years from now and wonder why we did nothing in the face of real threats to our security and our economy.
That’s why, earlier today, I signed a new executive order that will strengthen our cyber defenses by increasing information sharing, and developing standards to protect our national security, our jobs, and our privacy. Now, Congress must act as well, by passing legislation to give our government a greater capacity to secure our networks and deter attacks.
Even as we protect our people, we should remember that today’s world presents not only dangers, but opportunities. To boost American exports, support American jobs, and level the playing field in the growing markets of Asia, we intend to complete negotiations on a Trans-Pacific Partnership. And tonight, I am announcing that we will launch talks on a comprehensive Transatlantic Trade and Investment Partnership with the European Union – because trade that is free and fair across the Atlantic supports millions of good-paying American jobs.
We also know that progress in the most impoverished parts of our world enriches us all. In many places, people live on little more than a dollar a day. So the United States will join with our allies to eradicate such extreme poverty in the next two decades: by connecting more people to the global economy and empowering women; by giving our young and brightest minds new opportunities to serve and helping communities to feed, power, and educate themselves; by saving the world’s children from preventable deaths; and by realizing the promise of an AIDS-free generation.
Above all, America must remain a beacon to all who seek freedom during this period of historic change. I saw the power of hope last year in Rangoon – when Aung San Suu Kyi welcomed an American President into the home where she had been imprisoned for years; when thousands of Burmese lined the streets, waving American flags, including a man who said, “There is justice and law in the United States. I want our country to be like that.”
In defense of freedom, we will remain the anchor of strong alliances from the Americas to Africa; from Europe to Asia. In the Middle East, we will stand with citizens as they demand their universal rights, and support stable transitions to democracy. The process will be messy, and we cannot presume to dictate the course of change in countries like Egypt; but we can – and will – insist on respect for the fundamental rights of all people. We will keep the pressure on a Syrian regime that has murdered its own people, and support opposition leaders that respect the rights of every Syrian. And we will stand steadfast with Israel in pursuit of security and a lasting peace. These are the messages I will deliver when I travel to the Middle East next month.
All this work depends on the courage and sacrifice of those who serve in dangerous places at great personal risk – our diplomats, our intelligence officers, and the men and women of the United States Armed Forces. As long as I’m Commander-in-Chief, we will do whatever we must to protect those who serve their country abroad, and we will maintain the best military in the world. We will invest in new capabilities, even as we reduce waste and wartime spending. We will ensure equal treatment for all service members, and equal benefits for their families – gay and straight. We will draw upon the courage and skills of our sisters and daughters, because women have proven under fire that they are ready for combat. We will keep faith with our veterans – investing in world-class care, including mental health care, for our wounded warriors; supporting our military families; and giving our veterans the benefits, education, and job opportunities they have earned. And I want to thank my wife Michelle and Dr. Jill Biden for their continued dedication to serving our military families as well as they serve us.
But defending our freedom is not the job of our military alone. We must all do our part to make sure our God-given rights are protected here at home. That includes our most fundamental right as citizens: the right to vote. When any Americans – no matter where they live or what their party – are denied that right simply because they can’t wait for five, six, seven hours just to cast their ballot, we are betraying our ideals. That’s why, tonight, I’m announcing a non-partisan commission to improve the voting experience in America. And I’m asking two long-time experts in the field, who’ve recently served as the top attorneys for my campaign and for Governor Romney’s campaign, to lead it. We can fix this, and we will. The American people demand it. And so does our democracy.
Of course, what I’ve said tonight matters little if we don’t come together to protect our most precious resource – our children.
It has been two months since Newtown. I know this is not the first time this country has debated how to reduce gun violence. But this time is different. Overwhelming majorities of Americans – Americans who believe in the 2nd Amendment – have come together around commonsense reform – like background checks that will make it harder for criminals to get their hands on a gun. Senators of both parties are working together on tough new laws to prevent anyone from buying guns for resale to criminals. Police chiefs are asking our help to get weapons of war and massive ammunition magazines off our streets, because they are tired of being outgunned.
Each of these proposals deserves a vote in Congress. If you want to vote no, that’s your choice. But these proposals deserve a vote. Because in the two months since Newtown, more than a thousand birthdays, graduations, and anniversaries have been stolen from our lives by a bullet from a gun.
One of those we lost was a young girl named Hadiya Pendleton. She was 15 years old. She loved Fig Newtons and lip gloss. She was a majorette. She was so good to her friends, they all thought they were her best friend. Just three weeks ago, she was here, in Washington, with her classmates, performing for her country at my inauguration. And a week later, she was shot and killed in a Chicago park after school, just a mile away from my house.
Hadiya’s parents, Nate and Cleo, are in this chamber tonight, along with more than two dozen Americans whose lives have been torn apart by gun violence. They deserve a vote.
Gabby Giffords deserves a vote.
The families of Newtown deserve a vote.
The families of Aurora deserve a vote.
The families of Oak Creek, and Tucson, and Blacksburg, and the countless other communities ripped open by gun violence – they deserve a simple vote.
Our actions will not prevent every senseless act of violence in this country. Indeed, no laws, no initiatives, no administrative acts will perfectly solve all the challenges I’ve outlined tonight. But we were never sent here to be perfect. We were sent here to make what difference we can, to secure this nation, expand opportunity, and uphold our ideals through the hard, often frustrating, but absolutely necessary work of self-government.
We were sent here to look out for our fellow Americans the same way they look out for one another, every single day, usually without fanfare, all across this country. We should follow their example.
We should follow the example of a New York City nurse named Menchu Sanchez. When Hurricane Sandy plunged her hospital into darkness, her thoughts were not with how her own home was faring – they were with the twenty precious newborns in her care and the rescue plan she devised that kept them all safe.
We should follow the example of a North Miami woman named Desiline Victor. When she arrived at her polling place, she was told the wait to vote might be six hours. And as time ticked by, her concern was not with her tired body or aching feet, but whether folks like her would get to have their say. Hour after hour, a throng of people stayed in line in support of her. Because Desiline is 102 years old. And they erupted in cheers when she finally put on a sticker that read “I Voted.”
We should follow the example of a police officer named Brian Murphy. When a gunman opened fire on a Sikh temple in Wisconsin, and Brian was the first to arrive, he did not consider his own safety. He fought back until help arrived, and ordered his fellow officers to protect the safety of the Americans worshiping inside – even as he lay bleeding from twelve bullet wounds.
When asked how he did that, Brian said, “That’s just the way we’re made.”
That’s just the way we’re made.
We may do different jobs, and wear different uniforms, and hold different views than the person beside us. But as Americans, we all share the same proud title:
We are citizens. It’s a word that doesn’t just describe our nationality or legal status. It describes the way we’re made. It describes what we believe. It captures the enduring idea that this country only works when we accept certain obligations to one another and to future generations; that our rights are wrapped up in the rights of others; and that well into our third century as a nation, it remains the task of us all, as citizens of these United States, to be the authors of the next great chapter in our American story.
Thank you, God bless you, and God bless the United States of America.
Full Text of Rand Paul’s Tea Party Response to State of the Union
Kentucky Sen. Rand Paul delivered the Tea Party rebuttal to Obama’s State of the Union speech
These are the prepared remarks of Rand Paul’s Tea Party rebuttal to President Obama’s State of the Union Speech. Follow U.S. News’s live coverage here.
I speak to you tonight from Washington, D.C. The state of our economy is tenuous but our people remain the greatest example of freedom and prosperity the world has ever known.
People say America is exceptional. I agree, but it’s not the complexion of our skin or the twists in our DNA that make us unique. America is exceptional because we were founded upon the notion that everyone should be free to pursue life, liberty, and happiness.
For the first time in history, men and women were guaranteed a chance to succeed based NOT on who your parents were but on your own initiative and desire to work.
We are in danger, though, of forgetting what made us great. The President seems to think the country can continue to borrow $50,000 per second. The President believes that we should just squeeze more money out of those who are working.
The path we are on is not sustainable, but few in Congress or in this Administration seem to recognize that their actions are endangering the prosperity of this great nation.
Ronald Reagan said, government is not the answer to the problem, government is the problem.
Tonight, the President told the nation he disagrees. President Obama believes government is the solution: More government, more taxes, more debt.
What the President fails to grasp is that the American system that rewards hard work is what made America so prosperous.
What America needs is not Robin Hood but Adam Smith. In the year we won our independence, Adam Smith described what creates the Wealth of Nations.
He described a limited government that largely did not interfere with individuals and their pursuit of happiness.
All that we are, all that we wish to be is now threatened by the notion that you can have something for nothing, that you can have your cake and eat it too, that you can spend a trillion dollars every year that you don’t have.
I was elected to the Senate in 2010 by people worried about our country, worried about our kids and their future. I thought I knew how bad it was in Washington. But it is worse than I ever imagined.
Congress is debating the wrong things.
Every debate in Washington is about how much to increase spending – a little or a lot.
About how much to increase taxes – a little or a lot.
The President does a big “woe is me” over the $1.2 trillion sequester that he endorsed and signed into law. Some Republicans are joining him. Few people understand that the sequester doesn’t even cut any spending. It just slows the rate of growth. Even with the sequester, government will grow over $7 trillion over the next decade.
Only in Washington could an increase of $7 trillion in spending over a decade be called a cut.
So, what is the President’s answer? Over the past four years he has added over $6 trillion in new debt and may well do the same in a second term. What solutions does he offer? He takes entitlement reform off the table and seeks to squeeze more money out of the private sector.
He says he wants a balanced approach.
What the country really needs is a balanced budget.
Washington acts in a way that your family never could – they spend money they do not have, they borrow from future generations, and then they blame each other for never fixing the problem.
Tonight I urge you to demand a new course.
Demand Washington change their ways, or be sent home.
To begin with, we absolutely must pass a Balanced Budget Amendment to the Constitution!
The amendment must include strict tax and spending limitations.
Liberals complain that the budget can’t be balanced but if you cut just one penny from each dollar we currently spend, the budget would balance within six or seven years.
The Penny Plan has been crafted into a bill that millions of conservatives across the country support.
It is often said that there is not enough bipartisanship up here.
That is not true.
In fact, there is plenty.
Both parties have been guilty of spending too much, of protecting their sacred cows, of backroom deals in which everyone up here wins, but every taxpayer loses.
It is time for a new bipartisan consensus.
It is time Democrats admit that not every dollar spent on domestic programs is sacred. And it is time Republicans realize that military spending is not immune to waste and fraud.
Where would we cut spending; well, we could start with ending all foreign aid to countries that are burning our flag and chanting death to America.
The President could begin by stopping the F-16s and Abrams tanks being given to the radical Islamic government of Egypt.
Not only should the sequester stand, many pundits say the sequester really needs to be at least $4 trillion to avoid another downgrade of America’s credit rating.
Both parties will have to agree to cut, or we will never fix our fiscal mess.
Bipartisanship is not what is missing in Washington. Common sense is.
Trillion-dollar deficits hurt us all.
Printing more money to feed the never-ending appetite for spending hurts us all.
We pay higher prices every time we go to the supermarket or the gas pump. The value of the dollar shrinks with each new day.
Contrary to what the President claims, big government and debt are not a friend to the poor and the elderly. Big-government debt keeps the poor poor and saps the savings of the elderly.
This massive expansion of the debt destroys savings and steals the value of your wages.
Big government makes it more expensive to put food on the table. Big government is not your friend. The President offers you free stuff but his policies keep you poor.
Under President Obama, the ranks of America’s poor swelled to almost 1 in 6 people last year, reaching a new high as long-term unemployment left millions of Americans struggling and out of work.
The cycle must be broken.
The willpower to do this will not come from Congress. It must come from the American people.
Next month, I will propose a five-year balanced budget, a budget that last year was endorsed by taxpayer groups across the country for its boldness, and for actually solving the problem.
I will work with anyone on either side of the aisle who wants to cut spending.
But in recent years, there has been no one to work with.
The President’s massive tax hikes and spending increases have caused his budgets to get ZERO votes in both houses of Congress. Not a single Democrat voted for the President’s budget!
But at least he tried.
Senate Democrats have not even produced a budget in the time I have been in office, a shameful display of incompetence that illustrates their lack of seriousness.
This year, they say they will have a budget, but after just recently imposing hundreds of billions in new taxes, they now say they will include more tax hikes in their budget.
We must stand firm. We must say NO to any MORE tax hikes!
Only through lower taxes, less regulation and more freedom will the economy begin to grow again.
Our party is the party of growth, jobs and prosperity, and we will boldly lead on these issues.
Under the Obama economy, 12 million people are out of work. During the President’s first term 800,000 construction workers lost their jobs and another 800,000 simply gave up on looking for work.
With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses.
The only stimulus ever proven to work is leaving more money in the hands of those who earned it!
For those who are struggling we want to you to have something infinitely more valuable than a free phone, we want you to have a job and pathway to success.
We are the party that embraces hard work and ingenuity, therefore we must be the party that embraces the immigrant who wants to come to America for a better future.
We must be the party who sees immigrants as assets, not liabilities.
We must be the party that says, “If you want to work, if you want to become an American, we welcome you.”
For those striving to climb the ladder of success we must fix our schools.
America’s educational system is leaving behind anyone who starts with disadvantages.
We have cut classroom size in half and tripled spending on education and still we lag behind much of the world.
A great education needs to be available for everyone, whether you live on country club lane or in government housing.
This will only happen when we allow school choice for everyone, rich or poor, white, brown, or black.
Let the taxes you pay for education follow each and every student to the school of your choice.
Competition has made America the richest nation in history. Competition can make our educational system the envy of the world.
The status quo traps poor children in a crumbling system of hopelessness.
When every child can, like the President’s kids, go to the school of their choice, then will the dreams of our children come true!
Washington could also use a good dose of transparency, which is why we should fight back against middle of the night deals that end with massive bills no one has read.
We must continue to fight for legislation that forces Congress to read the bills!
We must continue to object when Congress sticks special interest riders on bills in the dead of night!
And if Congress refuses to obey its own rules, if Congress refuses to pass a budget, if Congress refuses to read the bills, then I say:
Sweep the place clean. Limit their terms and send them home!
I have seen the inner sanctum of Congress and believe me there is no monopoly on knowledge there.
If they will not listen, if they will not balance the budget, then we should limit their terms.
We are the party that adheres to the Constitution. We will not let the liberals tread on the Second Amendment!
We will fight to defend the entire Bill of Rights from the right to trial by jury to the right to be free from unlawful searches.
We will stand up against excessive government power wherever we see it.
We cannot and will not allow any President to act as if he were a king.
We will not let any President use executive orders to impinge on the Second Amendment.
We will not tolerate secret lists of American citizens who can be killed without trial.
Montesquieu wrote that there can be no liberty when the executive branch and the legislative branch are combined. Separation of powers is a bedrock principle of our Constitution.
We took the President to court over his unconstitutional recess appointments and won.
If necessary, we will take him to court again if he attempts to legislate by executive order.
Congress must reassert its authority as the protector of these rights, and stand up for them, no matter which party is in power.
Congress must stand as a check to the power of the executive, and it must stand as it was intended, as the voice of the people.
The people are crying out for change. They are asking for us to hear their voices, to fix our broken system, to right our economy and to restore their liberty.
Let us tonight let them know that we hear their voices. That we can and must work together, that we can and must re-chart our course toward a better future.
America has much greatness left in her. We will begin to thrive again when we begin to believe in ourselves again, when we regain our respect for our founding documents, when we balance our budget, when we understand that capitalism and free markets and free individuals are what creates our nation’s prosperity.
Text of Senator Marc Rubio’s response to the Union address on Tuesday night
Good evening. I’m Marco Rubio. I’m blessed to represent Florida in the United States Senate. Let me begin by congratulating President Obama on the start of his second term. Tonight, I have the honor of responding to his State of the Union address on behalf of my fellow Republicans. And I am especially honored to be addressing our brave men and women serving in the armed forces and in diplomatic posts around the world. You may be thousands of miles away, but you are always in our prayers.
The State of the Union address is always a reminder of how unique America is. For much of human history, most people were trapped in stagnant societies, where a tiny minority always stayed on top, and no one else even had a chance.
But America is exceptional because we believe that every life, at every stage, is precious, and that everyone everywhere has a God-given right to go as far as their talents and hard work will take them.
Like most Americans, for me this ideal is personal. My parents immigrated here in pursuit of the opportunity to improve their life and give their children the chance at an even better one. They made it to the middle class, my dad working as a bartender and my mother as a cashier and a maid. I didn’t inherit any money from them. But I inherited something far better – the real opportunity to accomplish my dreams.
This opportunity – to make it to the middle class or beyond no matter where you start out in life – it isn’t bestowed on us from Washington. It comes from a vibrant free economy where people can risk their own money to open a business. And when they succeed, they hire more people, who in turn invest or spend the money they make, helping others start a business and create jobs.
Presidents in both parties – from John F. Kennedy to Ronald Reagan – have known that our free enterprise economy is the source of our middle-class prosperity.
But President Obama? He believes it’s the cause of our problems. That the economic downturn happened because our government didn’t tax enough, spend enough and control enough. And, therefore, as you heard tonight, his solution to virtually every problem we face is for Washington to tax more, borrow more and spend more.
This idea – that our problems were caused by a government that was too small – it’s just not true. In fact, a major cause of our recent downturn was a housing crisis created by reckless government policies.
And the idea that more taxes and more government spending is the best way to help hardworking middle-class taxpayers – that’s an old idea that’s failed every time it’s been tried.
More government isn’t going to help you get ahead. It’s going to hold you back.
More government isn’t going to create more opportunities. It’s going to limit them.
And more government isn’t going to inspire new ideas, new businesses and new private sector jobs. It’s going to create uncertainty.
Because more government breeds complicated rules and laws that a small business can’t afford to follow.
Because more government raises taxes on employers who then pass the costs on to their employees through fewer hours, lower pay and even layoffs.
And because many government programs that claim to help the middle class, often end up hurting them instead.
For example, Obamacare was supposed to help middle-class Americans afford health insurance. But now, some people are losing the health insurance they were happy with. And because Obamacare created expensive requirements for companies with more than 50 employees, now many of these businesses aren’t hiring. Not only that; they’re being forced to lay people off and switch from full-time employees to part-time workers.
Now does this mean there’s no role for government? Of course not. It plays a crucial part in keeping us safe, enforcing rules, and providing some security against the risks of modern life. But government’s role is wisely limited by the Constitution. And it can’t play its essential role when it ignores those limits.
There are valid reasons to be concerned about the president’s plan to grow our government. But any time anyone opposes the president’s agenda, he and his allies usually respond by falsely attacking their motives.
When we point out that no matter how many job-killing laws we pass, our government can’t control the weather – he accuses us of wanting dirty water and dirty air.
When we suggest we strengthen our safety net programs by giving states more flexibility to manage them – he accuses us of wanting to leave the elderly and disabled to fend for themselves.
And tonight, he even criticized us for refusing to raise taxes to delay military cuts – cuts that were his idea in the first place.
But his favorite attack of all is that those who don’t agree with him – they only care about rich people.
Mr. President, I still live in the same working-class neighborhood I grew up in. My neighbors aren’t millionaires. They’re retirees who depend on Social Security and Medicare. They’re workers who have to get up early tomorrow morning and go to work to pay the bills. They’re immigrants, who came here because they were stuck in poverty in countries where the government dominated the economy.
The tax increases and the deficit spending you propose will hurt middle-class families. It will cost them their raises. It will cost them their benefits. It may even cost some of them their jobs.
And it will hurt seniors because it does nothing to save Medicare and Social Security.
So Mr. President, I don’t oppose your plans because I want to protect the rich. I oppose your plans because I want to protect my neighbors.
Hard-working middle-class Americans who don’t need us to come up with a plan to grow the government. They want a plan to grow the middle class.
Economic growth is the best way to help the middle class. Unfortunately, our economy actually shrank during the last three months of 2012.
But if we can get the economy to grow at just 4 percent a year, it would create millions of middle class jobs. And it could reduce our deficits by almost $4 trillion dollars over the next decade.
Tax increases can’t do this. Raising taxes won’t create private-sector jobs. And there’s no realistic tax increase that could lower our deficits by almost $4 trillion. That’s why I hope the president will abandon his obsession with raising taxes and instead work with us to achieve real growth in our economy.
One of the best ways to encourage growth is through our energy industry. Of course solar and wind energy should be a part of our energy portfolio. But God also blessed America with abundant coal, oil and natural gas. Instead of wasting more taxpayer money on so-called “clean energy” companies like Solyndra, let’s open up more federal lands for safe and responsible exploration. And let’s reform our energy regulations so that they’re reasonable and based on common sense. If we can grow our energy industry, it will make us energy independent, it will create middle-class jobs and it will help bring manufacturing back from places like China.
Simplifying our tax code will also help the middle class, because it will make it easier for small businesses to hire and grow.
And we agree with the president that we should lower our corporate tax rate, which is one of the highest in the world, so that companies will start bringing their money and their jobs back here from overseas.
We can also help our economy grow if we have a legal immigration system that allows us to attract and assimilate the world’s best and brightest. We need a responsible, permanent solution to the problem of those who are here illegally. But first, we must follow through on the broken promises of the past to secure our borders and enforce our laws.
Helping the middle class grow will also require an education system that gives people the skills today’s jobs entail and the knowledge that tomorrow’s world will require.
We need to incentivize local school districts to offer more advanced placement courses and more vocational and career training.
We need to give all parents, especially the parents of children with special needs, the opportunity to send their children to the school of their choice.
And because tuition costs have grown so fast, we need to change the way we pay for higher education.
I believe in federal financial aid. I couldn’t have gone to college without it. But it’s not just about spending more money on these programs; it’s also about strengthening and modernizing them.
A 21st century workforce should not be forced to accept 20th century education solutions. Today’s students aren’t only 18-year-olds. They’re returning veterans. They’re single parents who decide to get the education they need to earn a decent wage. And they’re workers who have lost jobs that are never coming back and need to be retrained.
We need student aid that does not discriminate against programs that non-traditional students rely on – like online courses, or degree programs that give you credit for work experience.
When I finished school, I owed over $100,000 in student loans, a debt I paid off just a few months ago. Today, many graduates face massive student debt. We must give students more information on the costs and benefits of the student loans they’re taking out.
All these measures are key to helping the economy grow. But we won’t be able to sustain a vibrant middle class unless we solve our debt problem.
Every dollar our government borrows is money that isn’t being invested to create jobs. And the uncertainty created by the debt is one reason why many businesses aren’t hiring.
The president loves to blame the debt on President Bush. But President Obama created more debt in four years than his predecessor did in eight.
The real cause of our debt is that our government has been spending $1 trillion more than it takes in every year. That’s why we need a balanced budget amendment.
The biggest obstacles to balancing the budget are programs where spending is already locked in. One of these programs, Medicare, is especially important to me. It provided my father the care he needed to battle cancer and ultimately die with dignity. And it pays for the care my mother receives now.
I would never support any changes to Medicare that would hurt seniors like my mother. But anyone who is in favor of leaving Medicare exactly the way it is right now, is in favor of bankrupting it.
Republicans have offered a detailed and credible plan that helps save Medicare without hurting today’s retirees. Instead of playing politics with Medicare, when is the president going to offer his plan to save it? Tonight would have been a good time for him to do it.
Of course, we face other challenges as well. We were all heart broken by the recent tragedy in Connecticut. We must effectively deal with the rise of violence in our country. But unconstitutionally undermining the Second Amendment rights of law-abiding Americans is not the way to do it.
On foreign policy, America continues to be indispensable to the goal of global liberty, prosperity and safeguarding human rights. The world is a better place when America is the strongest nation on earth. But we can’t remain powerful if we don’t have an economy that can afford it.
In the short time I’ve been here in Washington, nothing has frustrated me more than false choices like the ones the president laid out tonight.
The choice isn’t just between big government or big business. What we need is an accountable, efficient and effective government that allows small and new businesses to create middle class jobs.
We don’t have to raise taxes to avoid the president’s devastating cuts to our military. Republicans have passed a plan that replaces these cuts with responsible spending reforms.
In order to balance our budget, the choice doesn’t have to be either higher taxes or dramatic benefit cuts for those in need. Instead we should grow our economy so that we create new taxpayers, not new taxes, and so our government can afford to help those who truly cannot help themselves.
And the truth is every problem can’t be solved by government. Many are caused by the moral breakdown in our society. And the answers to those challenges lie primarily in our families and our faiths, not our politicians.
Despite our differences, I know that both Republicans and Democrats love America. I pray we can come together to solve our problems, because the choices before us could not be more important.
If we can get our economy healthy again, our children will be the most prosperous Americans ever.
And if we do not, we will forever be known as the generation responsible for America’s decline.
At a time when one showdown after another ends in short-term deals that do little or nothing about our real problems, some are starting to believe that our government leaders just can’t or won’t make the right choices anymore.
But our strength has never come from the White House or the Capitol. It’s always come from our people. A people united by the American idea that, if you have a dream and you are willing to work hard, nothing should be impossible.
Americans have always celebrated and been inspired by those who succeed. But it’s the dreams of those who are still trying to make it that sets our nation apart.
Tonight, all across this land, parents will hold their newborn children in their arms for the first time. For many of these parents, life has not gone the way they had planned.
Maybe they were born into circumstances they’ve found difficult to escape. Maybe they’ve made some mistakes along the way. Maybe they’re young mothers, all alone, the father of their child long gone.
But tonight, when they look into the eyes of their child for the first time, their lives will change forever. Because in those eyes, they will see what my parents saw in me, and what your parents saw in you. They will see all the hopes and dreams they once had for themselves.
This dream – of a better life for their children – it’s the hope of parents everywhere. Politicians here and throughout the world have long promised that more government can make those dreams come true.
But we Americans have always known better. From our earliest days, we embraced economic liberty instead. And because we did, America remains one of the few places on earth where dreams like these even have a chance.
Each time our nation has faced great challenges, what has kept us together was our shared hope for a better life.
Now, let that hope bring us together again. To solve the challenges of our time and write the next chapter in the amazing story of the greatest nation man has ever known.
Thank you for listening. May God bless all of you. May God bless our president. And may God continue to bless the United States of America.
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: 01/13
PERIOD RECEIPTS OUTLAYS DEFICIT/SURPLUS (-)
+ ____________________________________________________________ _____________________ _____________________ _____________________
PRIOR YEAR
OCTOBER 163,072 261,539 98,466
NOVEMBER 152,402 289,704 137,302
DECEMBER 239,963 325,930 85,967
JANUARY 234,319 261,726 27,407
FEBRUARY 103,413 335,090 231,677
MARCH 171,215 369,372 198,157
APRIL 318,807 259,690 -59,117
MAY 180,713 305,348 124,636
JUNE 260,177 319,919 59,741
JULY 184,585 254,190 69,604
AUGUST 178,860 369,393 190,533
SEPTEMBER 261,566 186,386 -75,180
YEAR-TO-DATE 2,449,093 3,538,286 1,089,193
CURRENT YEAR
OCTOBER 184,316 304,311 119,995
NOVEMBER 161,730 333,841 172,112
DECEMBER 269,508 270,699 1,191
JANUARY 272,225 269,342 -2,883
YEAR-TO-DATE 887,778 1,178,193 290,415
http://www.fms.treas.gov/mts/mts0113.txt
“…A massive cargo-carrying airship has taken shape inside one of the 17-story wooden blimp hangars at the former military base in Tustin.
According to aircraft maker Worldwide Aeros Corp., construction is complete on a 36,000-pound blimp-like aircraft designed for the military to carry tons of cargo to remote areas around the world.
The Montebello company hopes to have a first flight in the coming months and to demonstrate cargo-carrying capability shortly thereafter.
“This is truly the beginning of a vertical global transportation solution for perhaps the next 100 years,” Chief Executive Igor Pasternak said in a statement.
Worldwide Aeros, a company of about 100 employees, built the prototype under a contract of about $35 million from the Pentagon and NASA.
The Aeroscraft is a zeppelin with a 230-foot rigid skeleton made of aluminum and carbon fiber. It’s a new type of hybrid aircraft that combines airplane and airship technologies and doesn’t need a long runway to take off or land because it has piston engines that allow it to move vertically and a new high-tech buoyancy control system.
Ultimately, the company wants to be able to carry up to 66 tons. …”
The bar chart comes directly from the Monthly Treasury Statement published by the U. S. Treasury Department. <<< Click on the chart for more info.The “Debt Total” bar chart is generated from the Treasury Department’s “Debt Report” found on the Treasury Direct web site. It has links to search the debt for any given date range, and access to debt interestinformation. It is a direct source to government provided budget information.
— “Deficit” vs. “Debt”—Suppose you spend more money this month than your income. This situation is called a “budget deficit”. So you borrow (ie; use your credit card). The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you spend more than your income, another deficit, you must borrow some more, and you’ll still have to pay the interest on your debt (now larger). If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don’t have any money left over for anything else. This situation is known as bankruptcy.
“Reducing the deficit” is a meaningless soundbite. If the DEFICIT is any amount more than ZERO, we have to borrow more and the DEBT grows.
Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress’s appropriations. Here is a direct link to the Congressional Budget Office web site’s deficit analysis. We have to pay interest* on that huge, growing debt; and it cuts into our budget big time.
http://www.federalbudget.com/
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: 10/12
PERIOD RECEIPTS OUTLAYS DEFICIT/SURPLUS (-)
+ ____________________________________________________________ _____________________ _____________________ _____________________
PRIOR YEAR
OCTOBER 163,072 261,539 98,466
NOVEMBER 152,402 289,704 137,302
DECEMBER 239,963 325,930 85,967
JANUARY 234,319 261,726 27,407
FEBRUARY 103,413 335,090 231,677
MARCH 171,215 369,372 198,157
APRIL 318,807 259,690 -59,117
MAY 180,713 305,348 124,636
JUNE 260,177 319,919 59,741
JULY 184,585 254,190 69,604
AUGUST 178,860 369,393 190,533
SEPTEMBER 261,566 186,386 -75,180
YEAR-TO-DATE 2,449,093 3,538,286 1,089,193
CURRENT YEAR
OCTOBER 184,316 304,311 119,995
YEAR-TO-DATE 184,316 304,311 119,995
Another Day Older & Deeper In Debt: Federal Deficit to Top $1 Trillion for Fiscal Year 2012
Peter Schiff U.S. Debt Crisis
Vicious cycle of the US Debt & Deficit
President Obama Blaming Bush for Debt
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
Public Opinion for Libertarians – Bryan Caplan
Social Security trustees: We’re going broke
John C. Goodma
“…Here’s some bad news: The latest report of the Social Security and Medicare trustees shows an unfunded liability for both programs of $63 trillion. That is equal to about 4.5 times the entire U.S. gross domestic product.
The unfunded liability is the amount we have promised in benefits, looking indefinitely into the future, minus the payroll taxes and premiums we expect to collect. It’s the amount we must have in the bank today, earning interest, for these entitlement programs to be solvent.
We not only don’t have the money in the bank, no one has a serious plan to put it there.
Now — some really bad news. The actual liability is almost twice what the government is reporting. In 2009, the trustees calculated the two programs’ unfunded liability at about 6.5 times the size of the U.S. economy. But the next year the unfunded liability was cut in half. The reason: “Obamacare.” The minute President Barack Obama signed his health reform bill, he cut Medicare’s unfunded liability by more than $50 trillion.
You would think this accomplishment would be an occasion for great joy — for dancing and celebration in the streets. If you’re like most Americans, however, you probably haven’t heard about it. Certainly, the Obama administration isn’t talking.
Here is what’s going on: Obamacare uses cuts in Medicare to pay for more than half the cost of expanding health insurance for young people. So even if the Medicare cuts take place, they won’t reduce the government’s overall obligations. They just replace entitlements for seniors with entitlements for young people. In addition, the health reform bill contains no serious plan for making Medicare more efficient.
So the only realistic way to make cuts in Medicare spending is a mechanism that will pay less and less to doctors and hospitals over time.
The Center for Medicare & Medicaid Service’s Office of the Actuaries has predicted what this can mean for seniors. By the end of this decade, the fees that Medicare pays to doctors will be lower than what Medicaid pays. From an economic view, seniors will represent a less profitable sector than welfare mothers represent. Also by the end of the decade, one in seven hospitals will be forced out of business. In the decades that follow, the consequences only seem to get worse.
Many serious people inside the Beltway believe these cuts will never take place, however. The reason: Congress has been unwilling to allow similar reductions in doctor fees for nine straight years under previous legislation.
In fact, the possibility of “Obamacare” policies cutting Medicare’s unfunded liability in half is so unlikely that Medicare’s chief actuary, Richard Foster, provides an “alternative” report, in addition to the official trustees report, in which he projects much higher levels of Medicare spending.
What about the Medicare trust fund? Workers have been repeatedly told that their payroll taxes are being securely held in trust funds. But they are actually spent the very minute they arrive in the Treasury’s bank account. No money has been saved. No investments have been made. No cash has been stashed in bank vaults. Today’s payroll tax payments are being spent to pay medical bills for today’s retirees. And if any surplus materializes, it is spent on other government programs. As a result, when today’s workers reach the eligibility age of 65, they will be able to receive benefits only if future taxpayers pay (even higher) taxes to support them.
To address these defects, Medicare must be truly reformed. That means shifting from the current “pay as you go” system to one in which workers pay their own way.
My colleagues and I have calculated that workers (and their employers) must save and invest 4 percent of payroll. Eventually, we will reach the point where each generation of retirees will pay for the bulk of its own post-retirement medical care — with a payroll tax no higher than the one we have today.
We also need other reforms, of course. Seniors should be free to manage more of their own health care dollars. Doctors should be free to repackage their services in ways that lower the cost to patients and raise the quality of care. Seniors should also have access to more services, whose price is set in the marketplace rather than dictated by governments.
Most importantly, we need bipartisan commitment from those on Capitol Hill who can make all of this happen.
John C. Goodman is president of the National Center for Policy Analysis, research fellow at the Independent Institute and author of the book “Priceless: Curing the Healthcare Crisis,” due out in June. …”
US could be on path to fifth straight $1 trillion deficit after government runs $120 billion October deficit
“…The federal government started the 2013 budget year with a $120 billion deficit, an indication that the nation is on a path to its fifth straight $1 trillion-plus deficit.
Another soaring deficit puts added pressure on President Barack Obama and Congress to seek a budget deal in the coming weeks.
The Treasury Department said Tuesday that the October deficit — the gap between the government’s tax revenue and its spending — was 22 percent higher than the same month last year.
Tax revenue increased to $184.3 billion — 13 percent greater than the same month last year. Still, spending also rose to $304.3 billion, a 16.4 percent jump. The budget year begins on Oct. 1. Officials said last year’s figures were held down by a quirk in the calendar: the first day of October fell on a Saturday, which resulted in some benefits being paid in September 2011.
The deficit, in simplest terms, is the amount of money the government has to borrow when revenues fall short of expenses. The government ran a $1.1 trillion annual budget deficit in fiscal year that ended in September. That was lower than the previous year but still painfully high by historical standards.
Obama’s presidency has coincided with four straight $1 trillion-plus deficits — the first in history and record he had to vigorously defend during his successful re-election campaign.
The size and scope of this year’s deficit will largely depend on what happens with the so-called fiscal cliff — a package of tax increases and spending cuts set to take effect in January unless the White House and Congress reach a budget deal by then.
If the economy goes over the fiscal cliff, this year’s deficit would shrink to $641 billion, according to the Congressional Budget Office. But the CBO also warns that the economy would sink into recession in the first half of 2013.
If the White House and Congress can reach a budget deal that extends the tax cuts and avoids the spending cuts, the deficit will end up roughly $1 trillion for the budget year, the CBO says.
The deficits have been growing for more than a decade but reached a record $1.41 trillion in 2009, Obama’s first year in office. That was largely because of the worst recession since the Great Depression. Tax revenue plummeted during the downturn, while the government spent more on stimulus programs.
The deficits first began to widen after President George W. Bush won approval for broad tax cuts and launched wars in Afghanistan and Iraq.
One of the biggest challenges for the federal budget is the aging of the baby boom generation. That is raising government spending on Social Security and on Medicare and Medicaid. At the same time, the fragile economy, along with tax cuts, has reduced government revenue.
Over the past three years, revenue has fallen below 16 percent of the total economy as measured by the gross domestic product. Spending has exceeded 22 percent of GDP. The government has been forced to borrow to make up the gap, which has pushed the federal debt to $16.2 trillion.
The government is expected to hit its borrowing limit of $16.39 trillion by the end of December, unless Congress votes to raise it again. …”
The Facts About Budget Deficits: How The Presidents Truly Rank
James K. Glassman, Contributor
“…Please forgive me. Over and over, I hear misinformation about deficits in prior administrations, and I can’t keep quiet any longer. I have to correct the record.
The latest was on “Squawk Box” on Monday morning. Joe Kernan, the host, is interviewing former Vermont Gov. Howard Dean, ex-candidate for president and chairman of the Democratic National Committee. Kernen cites campaign comments about “bad policies” going back “decades” affecting the high rate of unemployment today.
He asks, “What specific policies in the Bush Administration do you think are still being used to explain 8 percent unemployment?”
Dean responds, “The biggest ones are the deficits that were run up…. The deficits were enormous
Let’s shed some factual light on the situation by turning to table B-79 of the current Economic Report of the President. There we find the official statistics on federal spending, receipts, and deficits (or surpluses) as proportions of Gross Domestic Product. These are the figures that economists use in determining the relationship of the deficit to the overall economy, answering the question, “How much more are we spending than taking in?”
We can average the deficit-to-GDP ratio during a presidential term and get a good take on whether “deficits were enormous” in historic terms or not. The only tricky part is whether to give a president credit (or blame) for his incoming and outgoing years. For example, President Reagan took office on Jan. 20, 1980, but fiscal year 1980 started four months earlier. Similarly, he left office Jan. 20, 1989, but fiscal 1989 still had four months to run.
I decided to use three sets of calculations for each president: first, the deficit-to-GDP ratio from the fiscal year he took office to the fiscal year he left minus one (thus, for Reagan: 1981-88); second, from his first fiscal year plus one to the fiscal year he left (thus, 1982-89); and third, an average of the first two
Here are the ratios of deficit to GDP for the past five presidents:
Ronald Reagan 1981-88 4.2 % 1982-89 4.2 Average 4.2
George H. W. Bush 1989-92 4.0 1990-93 4.3 Average 4.2
Bill Clinton 1993-2000 0.8 1994-2001 0.1 Average 0.5
George W. Bush 2001-08 2.0 2002-09 3.4 Average 2.7
Barack Obama 2009-12* 9.1 2010-12 8.7 Average 8.9 *fiscal 2012 ends Sept. 30, 2012, so this figure is estimated
Source: Economic Report of the President, February 2012
The results for President Bush are skewed by the 10.1 percent deficit/GDP ratio in fiscal 2009. A large chunk of spending in that year went to the Troubled Asset Relief Program, or TARP. In fiscal 2009, TARP contributed $151 billion to the budget deficit, but in 2010 and 2011, $147 billion of that amount was recouped and thus reduced the size of the deficit during President Obama’s watch. (These calculations are complicated and are laid out by the Office of Management and Budget. See http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/spec.pdf, p. 49.)
As for spending itself, during the George W. Bush years (2001-08), federal outlays averaged 19.6 percent of GDP, a little less than during the Clinton years (1993-2000), at 19.8% and far below Reagan, whose outlays never dropped below 21 percent of GDP in any year and averaged 22.4%. Even factoring in the TARP year (2009), Bush’s average outlays as a proportion of the economy was 20.3 percent – far below Reagan and only a half-point below Clinton. As for Obama, even excluding 2009, his spending has averaged 24.1 percent of GDP – the highest level for any three years since World War II.
Americans can judge for themselves whether deficits are “enormous”– but only if they have the facts. In this case, there is no denying the order in which the last five presidents rank on the basis of deficits: Clinton, Bush 43, Bush 41 and Reagan in a virtual tie, and Obama. …”
“…Therefore, the most accurate way to measure the debt by President is to sum all the budget deficits. That’s because the President is responsible for his budget priorities. It takes into account spending, and anticipated revenue from proposed tax cuts or hikes.
There are a few caveats, however. First, Congress does have a role, since it must approve the budget. Second, each President inherits a previous President’s policies. For example, every President has had to compensate for lower revenue thanks to President Reagan’s tax cuts. That’s because tax increases are a sure way to prevent re-election.
Third, while every President has had to deal with a recession, all recessions were not created equal. Furthermore, some Presidents have had to deal with unusual events, like the 9/11 terrorist attack and Hurricane Katrina. While these weren’t part of the business cycle, they required responses that came with economic price tags.
President Barack Obama:
President Obama contributed the most to the debt, with cumulative deficits totaling $5.073 trillion in just four years. Obama’s budgets included the economic stimulus package, which added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt over two years. Obama’s budget included increased defense spending to around $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis.Both Presidents Bush and Obama had to contend with higher mandatory mandatory spending for Social Security and Medicare. He also sponsored the Patient Protection and Affordable Care Act, which was designed to reduce the debt by $143 billion over 10 years. However, these savings didn’t show up until the later years.
President George W. Bush:
President Bush is next, racking up $3.294 trillion over two terms. He responded to the attacks on 9/11 by launching the War on Terror. This drove military spending to a new records, between $600-$800 billion a year. President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA, otherwise known as the Bush tax cuts.
President Ronald Reagan:
President Reagan added $1.412 trillion to the debt during his two terms. He fought the 1982 recession by cutting the top income tax rate from 70% to 28%, and the corporate rate from 48% to 34%. He also increased government spending by 2.5% a year. This included a 35% increase in the defense budget, and an expansion of Medicare. Although $1.412 trillion doesn’t sound like a lot, compared to 2012 debt levels, in fact Reagan’s economic policies doubled the debt during his Presidency.
President George H.W. Bush:
President George H.W. Bush added $1.03 trillion to the debt in one term. He responded to Iraq’s invasion of Kuwait with Desert Storm. He oversaw the $125 billion bailout to end the 1989 Savings and Loan crisis. Part of his debt contribution was due to lost tax revenue from the 1991 recession.
Although many other Presidents added to the debt, none comes close to these four in terms of overall spending. Part of that is because the U.S. economy, as measured by GDP, was so much smaller for other Presidents. For example, in 1981 GDP was only $3 trillion, growing by five times to $15 trillion in 2012. See the table below for a year-by-year detail of each President’s budget deficit since President Woodrow Wilson. (Updated September 12, 2012)
Budget Deficits by Fiscal Year Since 1960:
President Barack Obama: First Term = $5.073 trillion.
Mitt Romney Acceptance Speech at the Republican National Convention (C-SPAN) – Full Speech
“I was born in the middle of the century in the middle of the country, a classic baby boomer. It was a time when Americans were returning from war and eager to work. To be an American was to assume that all things were possible. When President Kennedy challenged Americans to go to the moon, the question wasn’t whether we’d get there, it was only when we’d get there.
The soles of Neil Armstrong’s boots on the moon made permanent impressions on OUR souls and in our national psyche. Ann and I watched those steps together on her parent’s sofa. Like all Americans we went to bed that night knowing we lived in the greatest country in the history of the world.
God bless Neil Armstrong.
Tonight that American flag is still there on the moon. And I don’t doubt for a second that Neil Armstrong’s spirit is still with us: that unique blend of optimism, humility and the utter confidence that when the world needs someone to do the really big stuff, you need an American.”
“It’s the genius of the American free enterprise system – to harness the extraordinary creativity and talent and industry of the American people with a system that is dedicated to creating tomorrow’s prosperity rather than trying to redistribute today’s.
That is why every president since the Great Depression who came before the American people asking for a second term could look back at the last four years and say with satisfaction: “you are better off today than you were four years ago.”
Except Jimmy Carter. And except this president.”
“Now is the time to restore the Promise of America. Many Americans have given up on this president but they haven’t ever thought about giving up. Not on themselves. Not on each other. And not on America.
What is needed in our country today is not complicated or profound. It doesn’t take a special government commission to tell us what America needs.
What America needs is jobs.
Lots of jobs.”
“I am running for president to help create a better future. A future where everyone who wants a job can find one. Where no senior fears for the security of their retirement. An America where every parent knows that their child will get an education that leads them to a good job and a bright horizon.
And unlike the President, I have a plan to create 12 million new jobs. It has 5 steps.
First, by 2020, North America will be energy independent by taking full advantage of our oil and coal and gas and nuclear and renewables.
Second, we will give our fellow citizens the skills they need for the jobs of today and the careers of tomorrow. When it comes to the school your child will attend, every parent should have a choice, and every child should have a chance.
Third, we will make trade work for America by forging new trade agreements. And when nations cheat in trade, there will be unmistakable consequences.
Fourth, to assure every entrepreneur and every job creator that their investments in America will not vanish as have those in Greece, we will cut the deficit and put America on track to a balanced budget.
And fifth, we will champion SMALL businesses, America’s engine of job growth. That means reducing taxes on business, not raising them. It means simplifying and modernizing the regulations that hurt small business the most. And it means that we must rein in the skyrocketing cost of healthcare by repealing and replacing Obamacare.
Today, women are more likely than men to start a business. They need a president who respects and understands what they do.
And let me make this very clear – unlike President Obama, I will not raise taxes on the middle class.
As president, I will protect the sanctity of life. I will honor the institution of marriage. And I will guarantee America’s first liberty: the freedom of religion.”
“President Obama promised to begin to slow the rise of the oceans and heal the planet. MY promise…is to help you and your family.”
The Politically Incorrect Guide to American History, Lecture 1 | Thomas E. Woods, Jr.
Lecture 1, “Themes and Lessons from Colonial America” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 2 | Thomas E. Woods, Jr.
Lecture 2, “The Constitution: Four Disputed Clauses” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 3 | Thomas E. Woods, Jr.
Lecture 3, “The Principles of ’98″ by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 4 | Thomas E. Woods, Jr.
Lecture 4, “Lysander Spooner and Other Antebellum Radicalism” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 5 | Thomas E. Woods, Jr.
Lecture 5, “Secession and the American Experience” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 6 | Thomas E. Woods, Jr.
Lecture 6, “Secession and War” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 7 | Thomas E. Woods, Jr.
Lecture 7, “Reconstruction” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 8 | Thomas E. Woods, Jr.
Lecture 8, “Myths and Facts About Big Business” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 9 | Thomas E. Woods, Jr.
Lecture 9, “World War I” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 10 | Thomas E. Woods, Jr.
Lecture 10, “The 1920s – Domestic and International” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 11 | Thomas E. Woods, Jr.
Lecture 11, “Herbert Hoover and the Great Depression” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 12 | Thomas E. Woods, Jr.
Lecture 12, “The Economics of the New Deal and World War II” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 13 | Thomas E. Woods, Jr.
Lecture 13, “The History of Foreign Aid Programs” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 14 | Thomas E. Woods, Jr.
Lecture 14, “Civil Rights and the Supreme Court” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
The Politically Incorrect Guide to American History, Lecture 15 | Thomas E. Woods, Jr.
Lecture 15, “Welfare Programs and the Great Society” by Dr. Thomas E. Woods, Jr., a senior fellow in history at the Ludwig von Mises Institute, presents this fifteen-lecture course covering the material in his book The Politically Incorrect Guide to American History. Presented to the Auburn University Academy for Lifelong Learners, and recorded at the Mises Institute in Auburn, Alabama between September 2006 and March 2007.
By the middle of the 19th century, the benefits brought by the host of advances of the industrial age were gradually beginning to reach America, which soon developed a spectacular achievement of its own – the Transcontinental Railway, reaching right across the continent. They battled against hostile terrain, hostile inhabitants, civil war and the Wild West. With two teams, one building from the east and the other from California in the west, they battled against hostile terrain, hostile inhabitants, civil war and the Wild West. Yet in 1869, the two teams’ tracks were joined, shrinking the whole American continent, as the journey from New York to San Francisco was reduced from months to days.
Transcontinental Railroad (2 of 5)
Transcontinental Railroad (3 of 5)
Transcontinental Railroad (4 of 5)
Transcontinental Railroad (5 of 5)
Richard White (6/8/11)
Myths About the Transcontinental Railroad and the Building of the American West
Richard White, Professor of History, Stanford University; Author, Railroaded: The Transcontinentals and the Making of Modern America
Drawing on his extensive knowledge on the American West and 12 years of research on the railroads, White will reveal the social and economic impact the transcontinental railroad has had on shaping the United States into what it is today. With an iconoclastic perspective, White recasts our understanding of the Gilded Age. Hop aboard as White explores 19th-century politics, greed, corruption, money, and corporate arrogance — and the America formed out of them after the Civil War.
The attack on the World Trade Center was the most watched event in human history. And the footage seen of that day came not only from TV cameras, but also from workers, tourists, and passersby, each of whose lives would change dramatically when confronted with the sight of the attacks. David Friend has uncovered the stories behind those images–from the street-level shots of the north tower crumbling to firefighters raising the American flag over the rubble. In Watching the World Change, he traces the images back to their sources and charts their impact over the next seven days. That week was the beginning of a digital age, a moment when all the advances in television, photography, and the Web converged on a single event.
David Friend is Vanity Fair’s Editor of Creative Development.
This event happened on September 5, 2007 at the Google NYC office
“I PHOTOGRAPHED MOHAMMED ATTA”
In January, while giving a talk about my book at the 2007 FotoFusion festival in Delray Beach, Florida, I fell into conversation with Art NeJame, one of the organizers of the annual slate of workshops for members of the photo community. Art told me a mesmerizing story of how he had come to encounter four of the September 11 hijackers — more than a dozen of whom had lived in South Florida during their preparation for their “mission.” It all happened because of a passport photo.
“…Minute by minute documentary about September 11 2001 and the terrorist attacks that day. It contains tons of footage from the WTC impacts and collapse as well as the pentagon.It contains interviews with survivors and actual recordings from the WTC , passengers, flight crew and the terrorists on the planes. This is a National Geographic Channel documentary from 2005-06 …”
INSIDE 9/11 : ZERO HOUR (PART 2 of 4)
INSIDE 9/11 : ZERO HOUR (PART 3 of 4)
INSIDE 9/11 : ZERO HOUR (PART 4 of 4)
The Falling Man
“…Do you remember this photograph? In the United States, people have taken pains to banish it from the record of September 11, 2001. The story behind it, though, and the search for the man pictured in it, are our most intimate connection to the horror of that day. …”
By Tom Junod
“…In the picture, he departs from this earth like an arrow. Although he has not chosen his fate, he appears to have, in his last instants of life, embraced it. If he were not falling, he might very well be flying. He appears relaxed, hurtling through the air. He appears comfortable in the grip of unimaginable motion. He does not appear intimidated by gravity’s divine suction or by what awaits him. His arms are by his side, only slightly outriggered. His left leg is bent at the knee, almost casually. His white shirt, or jacket, or frock, is billowing free of his black pants. His black high-tops are still on his feet. In all the other pictures, the people who did what he did — who jumped — appear to be struggling against horrific discrepancies of scale. They are made puny by the backdrop of the towers, which loom like colossi, and then by the event itself. Some of them are shirtless; their shoes fly off as they flail and fall; they look confused, as though trying to swim down the side of a mountain. The man in the picture, by contrast, is perfectly vertical, and so is in accord with the lines of the buildings behind him. He splits them, bisects them: Everything to the left of him in the picture is the North Tower; everything to the right, the South. Though oblivious to the geometric balance he has achieved, he is the essential element in the creation of a new flag, a banner composed entirely of steel bars shining in the sun. Some people who look at the picture see stoicism, willpower, a portrait of resignation; others see something else — something discordant and therefore terrible: freedom. There is something almost rebellious in the man’s posture, as though once faced with the inevitability of death, he decided to get on with it; as though he were a missile, a spear, bent on attaining his own end. He is, fifteen seconds past 9:41 a.m. EST, the moment the picture is taken, in the clutches of pure physics, accelerating at a rate of thirty-two feet per second squared. He will soon be traveling at upwards of 150 miles per hour, and he is upside down. In the picture, he is frozen; in his life outside the frame, he drops and keeps dropping until he disappears.
Ron Paul: The Worst Thing You Can Do For A People Is Purposely Devalue The Dollar
Obama’s Got America Singin’ the Blues
As Gas Prices Rise, White House Goes on Offensive, Defensive
Ron Paul tells the real reason for the oil prices in 2007 and today
END FED: Bernanke Explains How To Devalue the Dollar, Quantitative Easing AKA Asset Purchase
Glenn Beck – Devaluing The Dollar
Beck: Devaluing the Dollar
Iran Sanctions, War, Israel & Gas Prices
Ron Paul Doubles Down On War Stance
Armed Chinese Troops in Texas!
Why Gas Prices Are Rising
Playing the oil prices money game
Secret Exemptions Allowed Speculators to Distort Futures Markets
Regulations on Speculation Weak, But Better Than Nothing
The Price Of Oil
Bill Black: What I’d Demand of the Fed
Bill Black’s eye-popping opening statement at House FinServ hearing on Lehman Bros.
END FED: Goldman Sachs To Blame For Global Food-Oil Price Crisis; Speculators Outnumber Hedgers
CFTC Commissioner: “A Hair Trigger Away from Economic Calamity”
Will CFTC Limit Excessive Speculation?
Oil Supply and Demand and the Next Oil Price Spike
Bio-fuels, Speculation, Land Grabs = Food Crisis
Speculation And The Frenzy In Food Markets
Food, Speculation and Parasitical Trading
Speculation Drives Up Coffee Prices
Food Speculation
Oil Speculators
Oil speculation and oil prices
The Real TRUTH Behind The OIL PRICES
Banks Behind High Gas Prices?
Rising Gas Prices Slowing Economy
Gas Prices Soaring
Ripple Effect Of Rising Gas Prices Hits Consumers
Krauthammer: Obama’s “war on fossil fuels” causes rising gas prices
Obama Wanted High Gas Prices…Gradually (2008 Election Campaign)
Ron Paul Expains High Gas Prices & War in 2008
Can We Stop A War With Iran?
Obama admits his intentions are to skyrocket oil prices
Ford O’Connell On Fox News – February 24, 2012
Ron Paul Expains High Gas Prices & War in 2007
Obama gas prices
A Coincidence Over High Gasoline Prices- MoneyTV with Donald Baillargeon
Obama Admits the Truth: He Can’t Do Much about Gas Prices
James Grant
Jim Grant – Bloomberg Interview (30/6/11)
Government Theft 2012
Press Conference with Chairman of the FOMC, Ben S. Bernanke
Blame High Oil Prices on Speculators and Bernanke
Seven Bucks A Gallon For Gas!
2012 Energy Prices
Ed Wallace
“…That’s right, we not only reduced our overall gasoline use in America, reversing a century-long trend, but in 2011 we dropped our demand for gasoline once again. This likely explains why in December WTI oil jumped by close to $7 a barrel, but the futures market for gasoline barely budged, moving just a few cents in either direction.
Another way to look at it is in the percentage of utilization of our refineries for this time of year. According to the government’s data, the last week of December our refineries ran at 84.2 percent of capacity. But if one compares that week to the same week in the boom years, 2003 to 2007, our refineries were running at 91.7 percent, 94.2 percent, 88.9 percent, 90.9 percent and 89.4 percent. For those who have forgotten, that last figure in that chain, marking the last week of December 2007, also denotes the month we officially slipped into a recession. Interestingly, data released by the International Energy Agency in September of 2008 showed oil and fuel demand falling worldwide starting in August of 2007.
And yet with our refinery utilization running at far below normal, we managed to have the all-time-record year for the exportation of refined fuels. While the media speculation on where oil’s price is going is almost solely based on “Asian Demand” or the prospect of a total embargo on Iranian oil, the real problem is something completely different.
What is it? It’s refiners trying to find ways to get the price of gasoline on the futures market more in line with the high price of oil. To this end it appears that three refineries in the Northeast, including Sunoco’s Marcus Hook and Philadelphia refinery, along with Conoco’s Trainer unit, will be closed. To be sure, both Conoco and Sunoco claim their first choice is to sell those refineries, but failing that they will be closed.
What does that mean to you and me?
Dow Jones Newswire quoted Gene McGillian, an energy analyst with Tradition Energy, as saying, “Gasoline futures prices are based on New York Harbor prices. When you start to see disruptions in that Northeast market, it’s definitely reflected in gasoline futures.”
Translation: Close refineries and you can bump the futures price of gasoline – and by extension the retail price – regardless of where the price of oil is.
“…An oil futureis simply a contract between a buyer and seller, where the buyer agrees to purchase a certain amount of a commodity — in this case oil — at a fixed price
. Futures offer a way for a purchaser to bet on whether a commodity will increase in price down the road. Once locked into a contract, a futures buyer would receive a barrel of oil for the price dictated in the future contract, even if the market price was higher when the barrel was actually delivered.
As in all cases, Wall Street heard the word "bet" and flocked to futures, taking the market to strange new places on the fringe of legality. In the 19th and early 20th centuries it bet on grain. In the 21st century it was oil. Despite U.S. petroleum reserves being at an eight-year high, the price of oil rose dramatically beginning in 2006. While demand rose, supply kept pace. Yet, prices still skyrocketed. This means that the laws of supply and demand no longer applied in the oil markets. Instead, an artificial market developed.
Artificial markets are volatile; they’re difficult to predict and can turn on a dime. As a result of the artificial oil market, the average price per barrel of crude oil increased from $31.61 in July 2004 to $137.11 in July 2008 1. The average cost for a gallon of regular unleaded gas in the United States grew from $1.93 to $4.09 over the same period 1.
So what happened? …"
"…What speculators do is bet on what price a commodity will reach by a future date, through instruments called <strong>derivatives</strong>. Unlike an investment in an actual commodity (such as a barrel of oil), a derivative’s value is based on the value of a commodity (for example, a bet on whether a barrel of oil will increase or decrease in price). Speculators have no hand in the sale of the commodity they’re betting on; they’re not the buyer or the seller.
By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It’s simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. As energy researcher F. William Engdahl put it, "[s]peculators trade on rumor, not fact" 1. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they’ll be able to sell it later on at the future price. This drives prices up in reality — both future and present prices — due to the decreased amount of oil currently available on the market.
Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone 1.
As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40 1. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it. …"
</div>
</div>
</div>
</div>
<h4></h4>
<h4>It’s no secret that speculators are driving up fuel prices. The surprise? It’s the Fed’s fault, writes Ed Wallace</h4>
<h4>"…The Fed’s Cheap Liquidity Flood</h4>
The problem starts with Ben Bernanke, no matter how many of his Fed presidents claim they are not to blame for the high price of oil. The fact is that when you flood the market with far too much liquidity at virtually no interest, funny things happen in commodities and equities. It was true in the 1920s, it was true in the last decade, and it’s still true today.
When Richard Fisher, president of the Dallas Federal Reserve, spoke in Germany late in March, Reuters quoted him as saying: "We are seeing speculative activity that may be exacerbating price rises in commodities such as oil." Fisher added that he was seeing the signs of the same speculative trading that had fueled the first financial meltdown.
Here Fisher is in good company. Kansas City Fed President Thomas Hoenig, who has been a vocal critic of the current Fed policy of zero interest and high liquidity, has suggested that markets don’t function correctly under those circumstances. And David Stockman, Ronald Reagan’s former budget director, recently wrote a scathing article for MarketWatch, "Federal Reserve’s Path of Destruction," in which he criticizes current Fed policy even more pointedly. Stockman wrote: "This destruction is namely the exploitation of middle-class savers; the current severe food and energy squeeze on lower income households … and the next round of bursting bubbles building up among the risk asset classes."
Let’s not kid ourselves. Oil in today’s world is worth far more than the $25 a barrel it sold for over a decade ago. But the ability of markets to function properly, based on real supply and demand equations, has been destroyed by allowing ridiculous leverage and the unlimited ability to borrow the leverage at historically low interest rates.
Fortunately for our elected officials, they’ve got the public convinced that the biggest threat from government is taxation and deficits. In reality the public should be infuriated with the rising costs of nondiscretionary items such as food and gasoline, which current Fed policy actively enables. …"
The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location. Other important benchmarks include Dubai, Tapis, and the OPEC basket. The Energy Information Administration (EIA) uses the imported refiner acquisition cost, the weighted average cost of all oil imported into the US, as its "world oil price".
The demand for oil is highly dependent on global macroeconomic conditions. According to the International Energy Agency, high oil prices generally have a large negative impact on the global economic growth.<sup>[1]</sup>
The Organization of the Petroleum Exporting Countries (OPEC) was formed in 1960<sup>[2]</sup> to try and counter the oil companies cartel, which had been controlling posted prices since the so-called 1927 Red Line Agreement and 1928 Achnacarry Agreement, and had achieved a high level of price stability until 1972.
The price of oil underwent a significant decrease after the record peak of US$145 it reached in July 2008. On December 23, 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2010 began, and traded at between US$35 a barrel and US$82 a barrel in 2009.<sup>[3]</sup> On 31 January 2011, the Brent price hit $100 a barrel for the first time since October 2008, on concerns about the political unrest in Egypt.<sup>[4]</sup>
Price history before 2003
A low point was reached in January 1999 of 17 USD per barrel, after increased oil production from Iraq coincided with the Asian Financial Crisis, which reduced demand. Prices then increased rapidly, more than doubling by September 2000 to $35, then fell until the end of 2001 before steadily increasing, reaching $40–50 by September 2004.<sup>[5]</sup>
<h3>Price history from 2003 onwards</h3>
<div>Main article: 2003 to 2011 world oil market chronology</div>
<div>Further information: 2000s energy crisis</div>
<h4>Benchmark pricing</h4>
<div>Main article: Benchmark (crude oil)</div>
After the collapse of the OPEC-administered pricing system in 1985, and a short lived experiment with netback pricing, oil-exporting countries adopted a market-linked pricing mechanism.<sup>[6]</sup> First adopted by PEMEX in 1986, market-linked pricing received wide acceptance and by 1988 became and still is the main method for pricing crude oil in international trade.<sup>[6]</sup> The current reference, or pricing markers, are Brent, WTI, and Dubai/Oman.<sup>[6]</sup>
<h4> Market listings</h4>
<div>Main article: Commodities markets</div>
Oil is marketed among other products in commodities markets. See above for details. Widely traded oil futures, and related natural gas futures, include:<sup>[7]</sup>
<ul>
<li>Petroleum
<ul>
<li>Nymex Crude Future</li>
<li>Dated Brent Spot</li>
<li>WTI Cushing Spot</li>
<li>Nymex Heating Oil Future</li>
<li>Nymex RBOB Gasoline Future</li>
</ul>
</li>
<li>Natural gas
<ul>
<li>Nymex Henry Hub Future</li>
<li>Henry Hub Spot</li>
<li>New York City Gate Spot</li>
</ul>
</li>
</ul>
Most of the above oil futures have delivery dates in all 12 months of the year.<sup>[8]</sup>
<h4>Speculation</h4>
The surge in oil prices in the past several years has led some commentators to argue that at least some of the rise is due to speculation in the futures markets.<sup>[9]</sup>
<h4> Future price changes</h4>
In 2009, Seismic Micro-Technology conducted a survey of geophysicists and geologists about the future of crude oil. Of the survey participants 80 percent predicted the price for a barrel of oil will rise to be somewhere between $50 and $100 per barrel by June 2010.<sup>[10]</sup> Another 50 percent saying it will rise even further to $100 to $150 a barrel in the next five years.<sup>[10]</sup>
Oil prices could go to $200- $300 a barrel if the world’s top crude exporter Saudi Arabia is hit by serious political unrest, according to former Saudi oil minister Sheikh Yamani. Yamani has said that underlying discontent remained unresolved in Saudi Arabia. "If something happens in Saudi Arabia it will go to $200 to $300. I don’t expect this for the time being, but who would have expected Tunisia?" Yamani told Reuters on the sidelines of a conference of the Centre for Global Energy Studies (CGES) which he chaired on April 5th 2011.<sup>[11]</sup>
<h4>CFTC investigation</h4>
The U.S. Commodity Futures Trading Commission (CFTC) announced "Multiple Energy Market Initiatives" on May 29, 2008. Part 1 is "Expanded International Surveillance Information for Crude Oil Trading." The CFTC announcement stated it has joined with the United Kingdom Financial Services Authority and ICE Futures Europe in order to expand surveillance and information sharing of various futures contracts.<sup>[12]</sup> This announcement has received wide coverage in the financial press, with speculation about oil futures price manipulation.<sup>[13]</sup><sup>[14]</sup><sup>[15]</sup>
The interim report by the Interagency Task Force, released in July, found that speculation had not caused significant changes in oil prices and that fundamental supply and demand factors provide the best explanation for the crude oil price increases. The report found that the primary reason for the price increases was that the world economy had expanded at its fastest pace in decades, resulting in substantial increases in the demand for oil, while the oil production grew sluggishly, compounded by production shortfalls in oil-exporting countries.
The report stated that as a result of the imbalance and low price elasticity, very large price increases occurred as the market attempted to balance scarce supply against growing demand, particularly in the last three years. The report forecast that this imbalance would persist in the future, leading to continued upward pressure on oil prices, and that large or rapid movements in oil prices are likely to occur even in the absence of activity by speculators. The task force continues to analyze commodity markets and intends to issue further findings later in the year.
<h4>Future projections</h4>
<div>Main article: Oil depletion</div>
<div>Main article: Peak oil</div>
Peak oil is the period when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. It relates to a long term decline in the available supply of petroleum. This, combined with increasing demand, will significantly increase the worldwide prices of petroleum derived products. Most significant will be the availability and price of liquid fuel for transportation.
The US Department of Energy in the Hirsch report indicates that “The problems associated with world oil production peaking will not be temporary, and past “energy crisis” experience will provide relatively little guidance.”<sup>[16] …"</sup>
"…One of the biggest misnomers in finance and economics today is that prices work according to supply and demand. This was true when America performed in actual capitalist system, but since we moved to both fascism and crony capitalism, where corporations, banks, and government all work together at the betterment of themselves and not society, prices are fixed due to other factors such as dollar devaluation.
<div style="padding-left: 30px;"><strong><em>U.S. drivers used 2.8 percent less motor gasoline last year and consumed the smallest amount since 1999, the U.S. Department of Energy said Wednesday. Officials credited the decrease to more fuel-efficient cars and an aging population taking few trips.</em></strong></div>
<div style="padding-left: 30px;"><strong><em>Meanwhile, U.S. domestic oil production increased by more than 2 percent last year to 5.6 million barrels per day. – </em></strong><a href="http://www.desmoinesregister.com/article/20120209/BUSINESS/302090065/-1/TERMSOFSERVICE/Gas-consumption-lowest-since-1999"><strong><em>Des Moines Register</em></strong></a></div>
So… if consumption is way down, and production is actually up, should not gasoline prices be falling? They should, except if you take into consideration the amount of money printing and currency devaluation being done by the Federal Reserve over the past four years, the amount of inflation is being created by our own banking system, and not by a lack of products, or by higher demand.
In the end, Americans are being deceived by Fed Chairman Ben Bernanke. …"
"…Panic is in the air as gasoline prices move above $4.00 per gallon. Politicians and pundits are rounding up the usual suspects, looking for someone or something to blame for this latest outrage to middle class family budgets. In a rare display of bipartisanship, President Obama and Speaker of the House <a href="http://www.forbes.com/profile/john-boehner/">John Boehner</a> are both wringing their hands over the prospect of seeing their newly extended Social <a href="http://www.forbes.com/security/">Security</a> tax cut gobbled up by rising gasoline costs.
Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0.65 to $0.75 per gallon from where they are now just to be “normal”. And, because gasoline prices are low right now, it is very likely that they are going to go up more—perhaps a lot more.
What the politicians, analysts, and pundits are missing is that prices are ratios. Gasoline prices reflect crude oil prices, so let’s use West Texas Intermediate (WTI) crude oil to illustrate this crucial point.
As this is written, West Texas Intermediate crude oil (WTI) is trading at $105.88/bbl. All this means is that the market value of a barrel of WTI is 105.88 times the market value of “the dollar”. It is also true that WTI is trading at €79.95/bbl, ¥8,439.69/barrel, and £67.13/bbl. In all of these cases, the market value of WTI is the same. What is different in each case is the value of the monetary unit (euros, yen, and British pounds, respectively) being used to calculate the ratio that expresses the price.
In terms of judging whether the price of WTI is high or low, here is the price that truly matters: 0.0602 ounces of gold per barrel (which can be written as Au0.0602/bbl). What this number means is that, right now, a barrel of WTI has the same market value as 0.0602 ounces of gold.
During the 493 months since January 1, 1971, the price of WTI has averaged Au0.0732/bbl. It has been higher than that during 225 of those months and lower than that during 268 of those months. Plotted as a graph, the line representing the price of a barrel of oil in terms of gold has crossed the horizontal line representing the long-term average price (Au0.0732/bbl) 29 times.
At Au0.0602/bbl, today’s WTI price is only 82% of its average over the past 41+ years. Assuming that gold prices remained at today’s $1,759.30/oz, WTI prices would have to rise by about 22%, to $128.86/bbl, in order to reach their long-term average in terms of gold. As mentioned earlier, such an increase would drive up retail gasoline prices by somewhere between $0.65 and $0.75 per gallon.
At this point, we can be certain that, unless gold prices come down, gasoline prices are going to go up—by a lot. And, because the dollar is currently a floating, undefined, fiat currency, there is no inherent limit to how far the price of gold in dollars can rise, and therefore no ultimate ceiling on gasoline prices. …"
<strong>Why Gas Prices Are Actually Falling </strong>
<div><strong>By Gary Gibson</strong></div>
"…It’s not gold and silver prices that are volatile. Those have been incredibly consistent for thousands of years in terms of commodities they could buy. And because of the increasing standard of living being raised by free market economies, in a very real sense these eternal monies actually buy more. It’s the dollar that has been erratic in its overall declining trend ever since it’s been cut loose from gold (and silver).
Again, people looking at the cost of a gallon of gas, or of milk, or the cost of a nice suit, or rent from behind their piles of gold and silver are finding very little to worry about. In fact, to them, prices are lower than normal and declining.
Also the price of oil has tended to track the price of silver awfully closely for about as long as oil has been industrially useful. And so it’s no mistake that you can still get a gallon of gas for about about $0.20…as long as that $0.20 is composed of a pre-1964 90% silver dimes. …"
"…You see, the pre-1965 quarter is worth $6.38 as I type this. The pre-1965 dime is worth $2.55. These coins hail from a time when the dollar was still tied to gold (at the official price of $35 per ounce prior to Nixon nixing the gold standard). The dollar was still as good as gold — even though Americans themselves were forbidden to own gold bullion from 1933 till 1974 — and there was actual silver in the coinage until that content was reduced in 1964 and eliminated in 1965.
Those old silver coins shine the harsh light on the strength of the currency and the abuse that currency suffers from the feds and the Federal Reserve.
If you’d been saving in gold, then from your point of view gas prices have been coming down for the past few years. If you’d been saving in that old “junk” silver (pre-1965 quarters, dimes and half dollars), then gas prices are a downright bargain, too. …"
<a href="http://whiskeyandgunpowder.com/why-gas-prices-are-actually-falling/">http://whiskeyandgunpowder.com/why-gas-prices-are-actually-falling/</a>
<h4><strong>Consequences to Expect if the U.S. Invades Iran </strong></h4>
<h4><strong>By Whiskey Contributor<small>Feb 22nd, 2012</small></strong></h4>
<h4><strong>Exploding Oil Prices</strong></h4>
The U.S. has had a ban on Iranian oil imports since 1979, however, Iran still supplies about 5% of the global oil market. This might not seem like much, but Iran also has the means and ability to shut down the Straight of Hormuz, which is one of two major petroleum choke points in the world. Around 17 million barrels of oil per day are shipped through the Straight of Hormuz, or about 20% of all oil traded worldwide.
<p align="center"><img src="http://www.ezimages.net/WHISKEY/022212_pic2.png" alt="" width="363" height="208" /></p>
"…In 2006, during the last major Iran war scare, experts predicted gasoline price increases in excess of <a href="http://money.cnn.com/2006/02/07/news/international/iran_oil/" target="_blank">$10 a gallon if Iran was invaded.</a>
This would devastate the U.S. economy, which is already hanging by a thin thread. Iran has announced this past weekend it will cease all oil shipments to Britain and France in protest of their support of economic sanctions. This alone is causing oil to spike today. A global energy crisis will financially decimate average citizens who will have their savings sapped by extreme price inflation, not just in gasoline, but in all goods that require the use of gasoline in their production and shipping. If you like this idea, then by all means, support an invasion of Iran.
<strong>War Domino Effect</strong>
In January of 2010, I wrote an article for Neithercorp Press entitled <a href="http://www.alt-market.com/neithercorp/press/2010/01/will-globalists-trigger-yet-another-world-war/" target="_blank">“Will Globalists Trigger Yet Another World War</a>“. In that article, I warned about the dangers of an invasion of Iran or Syria being used to foment a global conflict, in order to create a crisis large enough to distract the masses away from the international banker created economic collapse.
In 2006, Iran signed a mutual defense pact with its neighbor, Syria, which is also in the middle of its own turmoil and possible NATO intervention. Syria has strong ties to Russia, and even has a revamped Russian naval base off its coast, a fact rarely mentioned by the mainstream media. Both Russia and China have made their opposition clear in the case of any Western intervention in Iran or Syria. An invasion by the U.S. or Israel in these regions could quickly intensify into wider war between major world powers. If you like the idea of a world war which could eventually put you and your family in direct danger, then by all means, support an invasion of Iran.
<strong>Dollar Collapse</strong>
Make no mistake, the U.S. dollar is already on the verge of collapse, along with the U.S. economy. Bilateral trade agreements between BRIC and ASEAN nations are sprouting up everywhere the past couple months, and these agreements are specifically designed to end the dollar’s status as the world reserve currency. An invasion of Iran will only expedite this process. If global anger over the resulting chaos in oil prices doesn’t set off a dump of the dollar, the eventual debt obligation incurred through the overt costs of war will. Ron Paul has always been right; it doesn’t matter whether you think invasion is a good idea or not. We simply CANNOT afford it. America is bankrupt. Our only source of income is our ability to print money from thin air. Each dollar created to fund new wars brings our currency ever closer to its demise. …"
<h4 id="watch-headline-title" style="text-align: center;">What is a Future?</h4>
<p style="text-align: center;"></p>
<h4 id="watch-headline-title" style="text-align: center;">Investopedia Video: How Do Futures Contracts Work?</h4>
<p style="text-align: center;"></p>
<div><strong> Security Futures—Know Your Risks, or Risk Your Future</strong></div>
<div>
<strong>"…Margin & Leverage</strong>
When a brokerage firm lends you part of the funds needed to purchase a security, such as common stock, the term "margin" refers to the amount of cash, or down payment, the customer is required to deposit. By contrast, a security futures contract is an obligation not an asset and has no value as collateral for a loan. When you enter into a security futures contract, you are required to make a payment referred to as a "margin payment" or "performance bond" to cover potential losses.
For a relatively small amount of money (the margin requirement), a futures contract worth several times as much can be bought or sold. The smaller the margin requirement in relation to the underlying value of the futures contract, the greater the leverage. Because of this leverage, small changes in price can result in large gains and losses in a short period of time.
<strong>Example:</strong> Assuming a security futures contract is for 100 shares of stock, if a security futures contract is established at a contract price of $50, the contract has a nominal value of $5,000 (see definition below). The margin requirement may be as low as 20 percent, which would require a margin deposit of $1,000. Assume the contract price rises from $50 to $52 (a $200 increase in the nominal value). This represents a $200 profit to the buyer of the futures contract, and a 20 percent return on the $1,000 deposited as margin.
The reverse would be true if the contract price decreased from $50 to $48. This represents a $200 loss to the buyer, or 20 percent of the $1,000 deposited as margin. Thus, leverage can either benefit or harm an investor.
Note that a 4 percent decrease in the value of the contract resulted in a loss of 20 percent of the margin deposited. A 20 percent decrease in the contract price ($50 to $40) would mean a drop in the nominal value of the contract from $5,000 to $4,000, thereby wiping out 100 percent of the margin deposited on the security futures contract. …"
Futures margin requirements are set by the exchanges and are typically only 2 to 10 percent of the full value of the futures contract.
Margins are financial guarantees required of both buyers and sellers of futures contracts to ensure that they fulfill their futures contract obligations.
<h4>Initial Margin</h4>
Before a futures position can be opened, there must be enough available balance in the futures trader’s margin account to meet the initial margin requirement. Upon opening the futures position, an amount equal to the initial margin requirement will be deducted from the trader’s margin account and transferred to the exchange’s clearing firm. This money is held by the exchange clearinghouse as long as the futures position remains open.
<h4>Maintenance Margin</h4>
The maintenance margin is the minimum amount a futures trader is required to maintain in his margin account in order to hold a futures position. The maintenance margin level is usually slightly below the initial margin.
If the balance in the futures trader’s margin account falls below the maintenance margin level, he or she will receive a margin call to top up his margin account so as to meet the initial margin requirement.
<h4>Example</h4>
Let’s assume we have a speculator who has $10000 in his trading account. He decides to buy August Crude Oil at $40 per barrel. Each Crude Oil futures contract represents 1000 barrels and requires an initial margin of $9000 and has a maintenance margin level set at $6500.
Since his account is $10000, which is more than the initial margin requirement, he can therefore open up one August Crude Oil futures position.
One day later, the price of August Crude Oil drops to $38 a barrel. Our speculator has suffered an open position loss of $2000 ($2 x 1000 barrels) and thus his account balance drops to $8000.
Although his balance is now lower than the initial margin requirement, he did not get the margin call as it is still above the maintenance level of $6500.
Unfortunately, on the very next day, the price of August Crude Oil crashed further to $35, leading to an additional $3000 loss on his open Crude Oil position. With only $5000 left in his trading account, which is below the maintenance level of $6500, he received a call from his broker asking him to top up his trading account back to the initial level of $9000 in order to maintain his open Crude Oil position.
This means that if the speculator wishes to stay in the position, he will need to deposit an additional $4000 into his trading account.
. Futures offer a way for a purchaser to bet on whether a commodity will increase in price down the road. Once locked into a contract, a futures buyer would receive a barrel of oil for the price dictated in the future contract, even if the market price was higher when the barrel was actually delivered. …”
“…What speculators do is bet on what price a commodity will reach by a future date, through instruments called derivatives. Unlike an investment in an actual commodity (such as a barrel of oil), a derivative’s value is based on the value of a commodity (for example, a bet on whether a barrel of oil will increase or decrease in price). Speculators have no hand in the sale of the commodity they’re betting on; they’re not the buyer or the seller.
By betting on the price outcome with only a single futures contract, a speculator has no effect on a market. It’s simply a bet. But a speculator with the capital to purchase a sizeable number of futures derivatives at one price can actually sway the market. As energy researcher F. William Engdahl put it, “[s]peculators trade on rumor, not fact”
. A speculator purchasing vast futures at higher than the current market price can cause oil producers to horde their commodity in the hopes they’ll be able to sell it later on at the future price. This drives prices up in reality — both future and present prices — due to the decreased amount of oil currently available on the market.
Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone
.
As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40
. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it. …”
“…For just current CPI data, see CPI page. The following table provides all the Consumer Price Index data CPI-U from 1913 to the Present.
The Consumer Price Index (CPI-U) is compiled by the Bureau of Labor Statistics and is based upon a 1982 Base of 100. A Consumer Price Index of 158 indicates 58% inflation since 1982. The commonly quoted inflation rate of say 3% is actually the change in the Consumer Price Index from a year earlier. By looking at the change in the Consumer Price Index we can see that what cost an average of 9.9 cents in 1913 would cost us about $1.82 in 2003 and $2.02 in 2007.
To find Prior Consumer Price Index (CPI) data on this table (back through 1913) click on the date range links below the table.
Note Effective January 2007 the BLS began publishing the CPI index to three decimal places (prior to that it was only one decimal place). But InflationData.com is still the only place to get the Inflation Rate calculated to two decimal places.
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Annual
2012
226.665
2011
220.223
221.309
223.467
224.906
225.964
225.722
225.922
226.545
226.889
226.421
226.230
225.672
224.939
2010
216.687
216.741
217.631
218.009
218.178
217.965
218.011
218.312
218.439
218.711
218.803
219.179
218.056
2009
211.143
212.193
212.709
213.240
213.856
215.693
215.351
215.834
215.969
216.177
216.330
215.949
214.537
2008
211.080
211.693
213.528
214.823
216.632
218.815
219.964
219.086
218.783
216.573
212.425
210.228
215.303
2007
202.416
203.499
205.352
206.686
207.949
208.352
208.299
207.917
208.490
208.936
210.177
210.036
207.342
2006
198.300
198.700
199.800
201.500
202.500
202.900
203.500
203.900
202.900
201.800
201.500
201.800
201.600
2005
190.700
191.800
193.300
194.600
194.400
194.500
195.400
196.400
198.800
199.200
197.600
196.800
195.300
2004
185.200
186.200
187.400
188.000
189.100
189.700
189.400
189.500
189.900
190.900
191.000
190.300
188.900
2003
181.700
183.100
184.200
183.800
183.500
183.700
183.900
184.600
185.200
185.000
184.500
184.300
183.960
2002
177.100
177.800
178.800
179.800
179.800
179.900
180.100
180.700
181.000
181.300
181.300
180.900
179.880
2001
175.100
175.800
176.200
176.900
177.700
178.000
177.500
177.500
178.300
177.700
177.400
176.700
177.100
2000
168.800
169.800
171.200
171.300
171.500
172.400
172.800
172.800
173.700
174.000
174.100
174.000
172.200
1999
164.300
164.500
165.000
166.200
166.200
166.200
166.700
167.100
167.900
168.200
168.300
168.300
166.600
1998
161.600
161.900
162.200
162.500
162.800
163.000
163.200
163.400
163.600
164.000
164.000
163.900
163.000
1997
159.100
159.600
160.000
160.200
160.100
160.300
160.500
160.800
161.200
161.600
161.500
161.300
160.500
1996
154.400
154.900
155.700
156.300
156.600
156.700
157.000
157.300
157.800
158.300
158.600
158.600
156.900
1995
150.300
150.900
151.400
151.900
152.200
152.500
152.500
152.900
153.200
153.700
153.600
153.500
152.400
1994
146.200
146.700
147.200
147.400
147.500
148.000
148.400
149.000
149.400
149.500
149.700
149.700
148.200
1993
142.600
143.100
143.600
144.000
144.200
144.400
144.400
144.800
145.100
145.700
145.800
145.800
144.500
1992
138.100
138.600
139.300
139.500
139.700
140.200
140.500
140.900
141.300
141.800
142.000
141.900
140.300
1991
134.600
134.800
135.000
135.200
135.600
136.000
136.200
136.600
137.200
137.400
137.800
137.900
136.200
1990
127.400
128.000
128.700
128.900
129.200
129.900
130.400
131.600
132.700
133.500
133.800
133.800
130.700
1989
121.100
121.600
122.300
123.100
123.800
124.100
124.400
124.600
125.000
125.600
125.900
126.100
124.000
1988
115.700
116.000
116.500
117.100
117.500
118.000
118.500
119.000
119.800
120.200
120.300
120.500
118.300
1987
111.200
111.600
112.100
112.700
113.100
113.500
113.800
114.400
115.000
115.300
115.400
115.400
113.600
1986
109.600
109.300
108.800
108.600
108.900
109.500
109.500
109.700
110.200
110.300
110.400
110.500
109.600
1985
105.500
106.000
106.400
106.900
107.300
107.600
107.800
108.000
108.300
108.700
109.000
109.300
107.600
1984
101.900
102.400
102.600
103.100
103.400
103.700
104.100
104.500
105.000
105.300
105.300
105.300
103.900
1983
97.800
97.900
97.900
98.600
99.200
99.500
99.900
100.200
100.700
101.000
101.200
101.300
99.600
1982
94.300
94.600
94.500
94.900
95.800
97.000
97.500
97.700
97.900
98.200
98.000
97.600
96.500
1981
87.000
87.900
88.500
89.100
89.800
90.600
91.600
92.300
93.200
93.400
93.700
94.000
90.900
1980
77.800
78.900
80.100
81.000
81.800
82.700
82.700
83.300
84.000
84.800
85.500
86.300
82.400
1979
68.300
69.100
69.800
70.600
71.500
72.300
73.100
73.800
74.600
75.200
75.900
76.700
72.600
1978
62.500
62.900
63.400
63.900
64.500
65.200
65.700
66.000
66.500
67.100
67.400
67.700
65.200
1977
58.500
59.100
59.500
60.000
60.300
60.700
61.000
61.200
61.400
61.600
61.900
62.100
60.600
1976
55.600
55.800
55.900
56.100
56.500
56.800
57.100
57.400
57.600
57.900
58.000
58.200
56.900
1975
52.100
52.500
52.700
52.900
53.200
53.600
54.200
54.300
54.600
54.900
55.300
55.500
53.800
1974
46.600
47.200
47.800
48.000
48.600
49.000
49.400
50.000
50.600
51.100
51.500
51.900
49.300
1973
42.600
42.900
43.300
43.600
43.900
44.200
44.300
45.100
45.200
45.600
45.900
46.200
44.400
1972
41.100
41.300
41.400
41.500
41.600
41.700
41.900
42.000
42.100
42.300
42.400
42.500
41.800
1971
39.800
39.900
40.000
40.100
40.300
40.600
40.700
40.800
40.800
40.900
40.900
41.100
40.500
1970
37.800
38.000
38.200
38.500
38.600
38.800
39.000
39.000
39.200
39.400
39.600
39.800
38.800
1969
35.600
35.800
36.100
36.300
36.400
36.600
36.800
37.000
37.100
37.300
37.500
37.700
36.700
1968
34.100
34.200
34.300
34.400
34.500
34.700
34.900
35.000
35.100
35.300
35.400
35.500
34.800
1967
32.900
32.900
33.000
33.100
33.200
33.300
33.400
33.500
33.600
33.700
33.800
33.900
33.400
1966
31.800
32.000
32.100
32.300
32.300
32.400
32.500
32.700
32.700
32.900
32.900
32.900
32.400
1965
31.200
31.200
31.300
31.400
31.400
31.600
31.600
31.600
31.600
31.700
31.700
31.800
31.500
1964
30.900
30.900
30.900
30.900
30.900
31.000
31.100
31.000
31.100
31.100
31.200
31.200
31.000
1963
30.400
30.400
30.500
30.500
30.500
30.600
30.700
30.700
30.700
30.800
30.800
30.900
30.600
1962
30.000
30.100
30.100
30.200
30.200
30.200
30.300
30.300
30.400
30.400
30.400
30.400
30.200
1961
29.800
29.800
29.800
29.800
29.800
29.800
30.000
29.900
30.000
30.000
30.000
30.000
29.900
1960
29.300
29.400
29.400
29.500
29.500
29.600
29.600
29.600
29.600
29.800
29.800
29.800
29.600
1959
29.000
28.900
28.900
29.000
29.000
29.100
29.200
29.200
29.300
29.400
29.400
29.400
29.100
1958
28.600
28.600
28.800
28.900
28.900
28.900
29.000
28.900
28.900
28.900
29.000
28.900
28.900
1957
27.600
27.700
27.800
27.900
28.000
28.100
28.300
28.300
28.300
28.300
28.400
28.400
28.100
1956
26.800
26.800
26.800
26.900
27.000
27.200
27.400
27.300
27.400
27.500
27.500
27.600
27.200
1955
26.700
26.700
26.700
26.700
26.700
26.700
26.800
26.800
26.900
26.900
26.900
26.800
26.800
1954
26.900
26.900
26.900
26.800
26.900
26.900
26.900
26.900
26.800
26.800
26.800
26.700
26.900
1953
26.600
26.500
26.600
26.600
26.700
26.800
26.800
26.900
26.900
27.000
26.900
26.900
26.700
1952
26.500
26.300
26.300
26.400
26.400
26.500
26.700
26.700
26.700
26.700
26.700
26.700
26.500
1951
25.400
25.700
25.800
25.800
25.900
25.900
25.900
25.900
26.100
26.200
26.400
26.500
26.000
1950
23.500
23.500
23.600
23.600
23.700
23.800
24.100
24.300
24.400
24.600
24.700
25.000
24.100
1949
24.000
23.800
23.800
23.900
23.800
23.900
23.700
23.800
23.900
23.700
23.800
23.600
23.800
1948
23.700
23.500
23.400
23.800
23.900
24.100
24.400
24.500
24.500
24.400
24.200
24.100
24.100
1947
21.500
21.500
21.900
21.900
21.900
22.000
22.200
22.500
23.000
23.000
23.100
23.400
22.300
1946
18.200
18.100
18.300
18.400
18.500
18.700
19.800
20.200
20.400
20.800
21.300
21.500
19.500
1945
17.800
17.800
17.800
17.800
17.900
18.100
18.100
18.100
18.100
18.100
18.100
18.200
18.000
1944
17.400
17.400
17.400
17.500
17.500
17.600
17.700
17.700
17.700
17.700
17.700
17.800
17.600
1943
16.900
16.900
17.200
17.400
17.500
17.500
17.400
17.300
17.400
17.400
17.400
17.400
17.300
1942
15.700
15.800
16.000
16.100
16.300
16.300
16.400
16.500
16.500
16.700
16.800
16.900
16.300
1941
14.100
14.100
14.200
14.300
14.400
14.700
14.700
14.900
15.100
15.300
15.400
15.500
14.700
1940
13.900
14.000
14.000
14.000
14.000
14.100
14.000
14.000
14.000
14.000
14.000
14.100
14.000
1939
14.000
13.900
13.900
13.800
13.800
13.800
13.800
13.800
14.100
14.000
14.000
14.000
13.900
1938
14.200
14.100
14.100
14.200
14.100
14.100
14.100
14.100
14.100
14.000
14.000
14.000
14.100
1937
14.100
14.100
14.200
14.300
14.400
14.400
14.500
14.500
14.600
14.600
14.500
14.400
14.400
1936
13.800
13.800
13.700
13.700
13.700
13.800
13.900
14.000
14.000
14.000
14.000
14.000
13.900
1935
13.600
13.700
13.700
13.800
13.800
13.700
13.700
13.700
13.700
13.700
13.800
13.800
13.700
1934
13.200
13.300
13.300
13.300
13.300
13.400
13.400
13.400
13.600
13.500
13.500
13.400
13.400
1933
12.900
12.700
12.600
12.600
12.600
12.700
13.100
13.200
13.200
13.200
13.200
13.200
13.000
1932
14.300
14.100
14.000
13.900
13.700
13.600
13.600
13.500
13.400
13.300
13.200
13.100
13.700
1931
15.900
15.700
15.600
15.500
15.300
15.100
15.100
15.100
15.000
14.900
14.700
14.600
15.200
1930
17.100
17.000
16.900
17.000
16.900
16.800
16.600
16.500
16.600
16.500
16.400
16.100
16.700
1929
17.100
17.100
17.000
16.900
17.000
17.100
17.300
17.300
17.300
17.300
17.300
17.200
17.100
1928
17.300
17.100
17.100
17.100
17.200
17.100
17.100
17.100
17.300
17.200
17.200
17.100
17.100
1927
17.500
17.400
17.300
17.300
17.400
17.600
17.300
17.200
17.300
17.400
17.300
17.300
17.400
1926
17.900
17.900
17.800
17.900
17.800
17.700
17.500
17.400
17.500
17.600
17.700
17.700
17.700
1925
17.300
17.200
17.300
17.200
17.300
17.500
17.700
17.700
17.700
17.700
18.000
17.900
17.500
1924
17.300
17.200
17.100
17.000
17.000
17.000
17.100
17.000
17.100
17.200
17.200
17.300
17.100
1923
16.800
16.800
16.800
16.900
16.900
17.000
17.200
17.100
17.200
17.300
17.300
17.300
17.100
1922
16.900
16.900
16.700
16.700
16.700
16.700
16.800
16.600
16.600
16.700
16.800
16.900
16.800
1921
19.000
18.400
18.300
18.100
17.700
17.600
17.700
17.700
17.500
17.500
17.400
17.300
17.900
1920
19.300
19.500
19.700
20.300
20.600
20.900
20.800
20.300
20.000
19.900
19.800
19.400
20.000
1919
16.500
16.200
16.400
16.700
16.900
16.900
17.400
17.700
17.800
18.100
18.500
18.900
17.300
1918
14.000
14.100
14.000
14.200
14.500
14.700
15.100
15.400
15.700
16.000
16.300
16.500
15.100
1917
11.700
12.000
12.000
12.600
12.800
13.000
12.800
13.000
13.300
13.500
13.500
13.700
12.800
1916
10.400
10.400
10.500
10.600
10.700
10.800
10.800
10.900
11.100
11.300
11.500
11.600
10.900
1915
10.100
10.000
9.900
10.000
10.100
10.100
10.100
10.100
10.100
10.200
10.300
10.300
10.100
1914
10.000
9.900
9.900
9.800
9.900
9.900
10.000
10.200
10.200
10.100
10.200
10.100
10.000
1913
9.800
9.800
9.800
9.800
9.700
9.800
9.900
9.900
10.000
10.000
10.100
10.000
9.900
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Professor Mearsheimer will discuss his article by the same name from the January/February 2011 Issue of The National Interest. In the article, he considers the decline of US foreign policy from end of the Cold War to the “world of trouble” now: two protracted wars, nuclear stalemates in Iran and North Korea, and the inability to bring about a resolution to the Israeli-Palestinian conflict.
John Mearsheimer on the Death of U.S. Grand Strategy
John Mearsheimer & Stephen Walt – The Israel Lobby and US Foreign Policy
9/11 attack – A conspiracy of bad US government policies and half truths
Lying in International Politics with John Mearsheimer
Conversations with History: John Mearsheimer
“Israel Lobby” authors Steven Walt and John Mearsheimer
Professor of Political Science at the University of Chicago, John J. Mearsheimer, and Professor of International Affairs at Harvard University’s John F. Kennedy School of Government, Stephen M. Walt, discuss their book, THE ISRAEL LOBBY AND U.S. FOREIGN POLICY.