Quote of the Day

"The Only thing we have to fear is fear itself....we humbly ask the blessing of God. May he protect each and everyone of us! May he guide me in the days to come!"  Franklin Delano Roosevelt

CBO 2037 Predictions-Motivation for lawmakers?

The Congressional Budget Office budget model predicts the U.S. budget will be unsustainable and crash by the year 2037. Reducing and eliminating the deficit and starting to pay down the public debt should be at the top of every one's to-do list in D.C. We are talking about the end of our country as we know it. The CBO budget model literally predicts that America as we know her will cease to exist! Minority Leader Nancy Pelosi made some statements about Budget Chairman Paul Ryan's proposed budget today. She seemed to be suggesting that he wanted to steal money and take food away from seniors. Why don't the Democrats get it. We need to get real serious about fixing our budget problems real fast. Quit trying to score cheap political points. Show some leadership and get to work on the impeding implosion of our budget and economy. What the Ryan plan really does is reform the tax code and closes alot of corporate loop holes. Big corporations are not getting special treatment. Under the Ryan plan they will pay alot more taxes than they do now. The Ryan plan has deliberate and specific protections written into it for seniors. Seniors will be financially better off under the Ryan plan than any alternative offered by the Democrats, oh shoot wait a minute they have not offered any alternatives yet!  Also more bad news this week for the Dem's, a recent poll states that 77% of Americans think that 100 billion in cuts is not enough, let along the 61 billion the Republicans are trying to get past. That meas only 23% of Americans think cutting less that 100 billion is the path to choose. Come on Democrats get real and get on the Budget Reform train before it leaves the station!

Lybian Islamic Fighting Group (LIFG) on the front lines of Lybian rebels!

There are various factions that make up the Libyan opposition: Royalists, defectors from the Qadhafi regime, members of the Libyan Armed Forces, the National Front for the Salvation of Libya (NFSL), the National Conference for the Libyan Opposition (NCLO) which acts as an umbrella organization.Rarely acknowledged by the mainstream media, Al-Jamaa al-Islamiyyah al-Muqatilah bi Libya, the Libya Islamic Fighting Group (LIFG) is an integral part of the Libyan Opposition. The LIFG, which is part of  al Qaeda, according to reports,  is in the front lines of the armed insurrection. The LIFG is categorized by the UN Security Council as terrorists. In a cruel twist of irony The United States and the Allies are in violation of their own anti-terrorism laws and policies, while being simultaneously aligned with al Qaeda in the form of the LIFG in Libya and fighting a war against them elsewhere across the globe. There are even indications that the CIA and MI6 may have provided support to the LIFG in years past. The anti-terrorism policy of the US seriously needs to get a second and even a third look. We needed to do something to keep the innocent civilians from being slaughtered, but we are now in the middle of a very complicated mess. It is ridiculous to be helping the LIFG out after knowing they are part of al Qaeda.

The Party of NO Leadership

Sen. Harry Reid and the Democrats, seem to be pinning their reelection hopes on blaming the Republicans for a government shutdown. Is this the extent of what they have to offer our country? Is this the extent of their intellectual capacity? Is this all they have to say about our budget crisis? Do they have any alternatives of their own? Do we have a President that has any idea on what to do about our budget problems? Do the Democrats care about our budget problems? I hope they do care. I hope they do have some alternatives. I hope they start honestly engaging the Republicans and the American people about our tremendous budget train wreck that is fast approaching. America needs leadership on both sides of the political spectrum. We are facing the possible implosion of our nation in just a couple of decades. Sen. Reid, Mr President lead!

Senator Harry Reid "radical, unrealistic, unreasonable..."

"So let me reiterate my hope that the Republican leadership recognizes they can't continue to be pulled to the right by the radical, unrealistic, unreasonable…faction: the Tea Party." said Senator Harry Reid D-NV about the Republicans wanting to just cut 61 billion dollars from this years budget which has a 1.4 trillion dollar deficit. That is only a 4.3%  proposed cut of the deficit for this year, and Sen. Reid labels a 4.3% cut of a 1.4 trillion dollar deficit as "radical, unrealistic, unreasonable..." are you serious Senator? At the rate you are proposing to cut the deficit it would take us nearly a 100 years to reach balance. Have you not seen the CBO report that predicts an economic melt down by the year 2037? While mentioning the House passed spending cut proposal of 61 billion dollars for this year, House Speaker John Boehner said on Wednesday, "It's time for Senate Democrats to pass a bill. The House has passed our bill and it's been nearly 40 days."
"Now the Senate says, 'We have a plan,'" Boehner added. "Well great. Pass the damn thing! Alright? And send it over here and let's have real negotiations." Sen. Harry Reid has had over forty days in a Senate the Dem's control and he so-called "leads" and he can not pass a simple spending reduction proposal, but he can sure criticize others who have. Democrats are blasting the proposed republican spending cuts as to deep and too extreme, yet I sill fail to see how a 4.3% reduction in current year spending which will still leave us with over a 1.3 trillion dollar deficit is extreme. What is "radical, unrealistic, unreasonable..." is Senator Harry Reid and the Democrats who care more about their party and scoring political points than they do about their country's future!

Extremely Irresponsible Sen. Chuck Schumer stands by his Extreme Coments!

The extremely, ignorant of the Constitution, Senator Chuck Shumer D-NY stands by his comments where he characterized the Tea Party as extreme. "You know, we have three branches of government. We have a House. We have a Senate. We have a President." One of the Senator's extremely ignorant quotes about the three branches of government, which are actually legislative, judicial, and executive.  "The American people are seeing the Tea Party for what it is -- extreme," Schumer said. No in fact the American people are seeing you as extreme because of your extreme disregard for the future of the country. The Tea Party knows we need to make drastic cuts in the Federal budget or our economy and government will crash and dissolve by the year 2037 according to the independent non party affiliated CBO. Part of our budget mess you Senator Schumer our extremely responsible for thanks to your extreme comment on the matter "Let me say this, to all of the chattering class that so much focuses on those little tiny, yes, porky amendments - the American people really don't care. " Senator Chuck Schumer I think the American people care about your extreme spending habits and your extremely uncaring attitude about our budget crisis. Senator Schumer seems to care more about scoring temporary political points than he cares about the future prosperity of our country.

Quote of the Day

"Not until I went into the churches of America and heard her pulpits flame with righteousness did I understand the secret of her genius and power. American is great because American is good, and if America ever ceases to be good, America will cease to be great."  Alexis de Tocqueville  --- We need to fight with all our might to keep America good.

CBO Budget Model Predicts Crash Of US Economy in 2037!

"The Congressional Budget Office has this economic model where they measure the economy going forward, and they are telling us that the entire economy crashes in the year 2037 because their computer simulation can't conceive of any way in which the U.S. economy can continue, By the time my kids are my age, just those three programs -- Social Security, Medicaid and Medicare --will consume all federal revenues. There will be no room for anything else in the federal budget," Congressman Paul Ryan said. President Obama has said we need to tackle the budget problems, but still has not offered any proposals (still the President incapable of being a leader on anything!). I assume he is waiting for the republicans to make the first risky move like the follower not leader he appears to be. Budget Chairman Paul Ryan R-Wisconsin will unveil the House republican budget plan next week. It is said to contain significant changes to Medicare and Medicaid. The plan does not propose many changes to Social Security. The plan is said to cut trillions from medicaid over the next ten years. Roll back discretionary spending to 2006 levels and change Medicare for those currently 54 and under. The new Medicare proposal would do away with medicare in the future for those currently 54 and under. They would instead receive yearly lump sum payments from the government to purchase their own private insurance.

Senator Orrin Hatch quote about President Obama

"... I think that he just doesn't know what to do... I think he is inexperienced. We put a man in as president who had two years in the Senate and the rest of his life was a community organizer. My gosh, that is important, but for president of the United States?... he is not leading, and that is the problem." ---- My point exactly when you elect a man with no experience being a leader, in any aspect in his life, then expect him to be the leader of the free world it is not going to happen!

Quote of the Day

"The only assurance of our nation's safety is to lay our foundation in morality and religion."  President Abraham Lincoln

Rising Gas Prices, Declining Dollar

One of the big reasons for high oil prices is the decline of the dollar. Since oil is purchased in dollars, marketed in dollars, sold in dollars, the 40% decline in the dollar in the last six years has caused a dramatic increase in the cost of oil. This increase in the cost of oil then produces an equally dramatic increase in the cost of gas. Lets do a little calculation here if the dollar has lost 40% of its value in the last 6 years that would not effect domestically made and bought items and materials  much, but it would dramatically increase the cost of foreign resources  i.e. oil. So in today's dollar for example gas is around $4 a gallon. Factoring out the decline of the dollar that same gallon of gas would be about $2.40 a gallon right now. The decline in the dollar helps in some ways the marketing of our products worldwide because it makes them cheaper, but in hurts us in the long run because it makes things we buy from foreign sources that much more expensive. Since we buy over 60% of our oil from foreign sources a devalued dollar is killing us at the pump. The cause of the decline of the dollar consists of many factors. One of the factors has been the poor fiscal policy of the federal government. The bloated budget deficits are a big factor. Another more prominent factor in my opinion is the poor monetary policies of the Fed. The rampant and rapid printing of more and more dollars is causing a crisis in high energy prices and if left unchecked this will lead to further devaluing of the dollar and hyperinflationism. Other more recent developments causing increases at the pump are the crisis's in Libya and the rest of the middle east.

Top 5 End Of Year/Season Tax Tips

1. Set up end of year medical appointments for doctor, eye exams, dentist, etc. to avoid losing any unused portion of a flexible spending account you may have. Also this will increase your potential medical deduction if you itemize. This itemize deduction is currently any medical expense over 7.5% of your income. This will increase to having to be over 10% of your income thanks to OBAMACARE. Which will make it that much harder to take this deduction.

2. Make contributions to any qualified retirement plans before end of year ( you can contribute to IRA'S by April 18 of this year and it will be credited to last years taxes as a adjustment to your taxable income) These contributions will help lower your taxable income.

3. Make charitable contributions by Dec. 31st so you can use the additional donations on your Schedule A. Make December the month you go through all your belongings to see what you could donate to Goodwill or other places. Use your camera or cell phone to take pictures of all you donate so you have an electronic record to back up the deduction.

4. If you are self-employed delay all your December billings until January so you can reduce your taxable income for the current year.

5. If you are expecting a large capital gain this year- consider selling off some stock to generate a loss. But you can not purchase substantially similar stock for 30 days before or after the sale you used to generate a loss.