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Posts Tagged ‘trillions’

No matter what President Obama says and regardless of his eloquence saying it, it would be a dire mistake, completely lacking in common sense, wisdom, and – mostly – regard for the US Constitution, for “We the People” to allow or accept any health care or health insurance program created by the US Congress and run by the US Government bureaucracy.

The record of accomplishment for US Government run programs is abysmal.

  • Congress established The U.S. Post Service in 1775 – they’ve had 234 years to get it
    right.
  • o It is seven billion dollars in debt again this year and will need another “bailout” (a word that is becoming all too common these days).
  • Congress established Social Security in 1935 – They’ve had 74 years to get it right.
  • o It is broke. It survives only on funds the US Government has borrowed from the next generation of Americans.
  • Congress established Fannie Mae in 1938 – They’ve had 71 years to get it right
  • o It is broke. Moreover, it is taking millions of Americans to bankruptcy court while it survives on (here’s that word again) bailout money.
  • Congress established War on Poverty started in 1964 – They’ve had 45 years to get it right.
  • o The IRS confiscates over a trillion dollars of our hard earned income each year to distribute to Washington bureaucracies to help poor Americans escape poverty, but the poor still abound. The US Government is losing that war.
  • Congress established Medicare and Medicaid in 1965.  Both are health care and health insurance programs. - They’ve had 44 years to get it right.
  • o Both are broke. They survive only on funds the US Government has borrowed from the next generation of Americans.
  • Congress established Freddie Mac in 1970 – They’ve had 39 years to get it right.
  • o It is broke. Moreover, it too is taking millions of Americans to bankruptcy court with it.
  • In 2009 Congress established a fund of trillions of dollars in the massive political payoff called the TARP Fund.
  • o It shows NO sign of working the way the Congress and the White House (both Bush and Obama) presented it to “We the People.”
  • In the first weeks of the Obama administration, the US Congress passed an almost one trillion-dollar pork-barrel bill disguised as a stimulus package that would, we were told, moderate the recession and reduce unemployment.
  • o DUH! Did we really believe that?
  • And now—a new record: Congress established “Cash for Clunkers” (welfare for the auto industry) in 2009 and it went broke in 2009!
  • o So much for the ability of the US Congress to think ahead – it simply doesn’t exist.

 

So, with a perfect 100% failure rate, can Americans truly believe the US Government can
be trusted with a government-run health care system that the Congress designed?

 

“We the People” pay for every one of the failed programs listed above.  Add another trillion or so (remember, a trillion is one thousand billions) of our hard earned dollars to the money the US Congress can waste, and it most certainly will be wasted.

 

The health care system in America is undeniably the best in the world.  It became the best because “We the People” are in charge, and because the free enterprise system works.  However, “We the People” also know that the system is imperfect and that the delivery system for health care relies on insurance companies whose self-interest is often opposed to the interests of “We the People.”  It is also plagued by the irresponsible behavior of attornies that sue the medical commuity at the drop of a hat.

 

The health care and health insurance challenges that face America in 2009 have many more workable and less expensive solutions than the ones the Washington insiders are promoting.  None of these alternatives requires giving the US Government another opportunity to fail.

 

This blog is too short to enumerate them.  I encourage you to do some research on the internet where you will discover that the systems being modeled in Washington…

  • are failing across the globe
  • are loaded with political payoffs

By Jeffrey Reeves MA, youBEthebank.com, ltd and Ron Jennings, http://www.moneylearningcenter.com/

Jobs in the 21st Century

Change We can Believe In?

NOT!

Chains We Will Grieve In?

INDEED!

Chains on the Citizens of America?

President Obama and the Democrats in the US Congress are tinkering with the motherboard of economics without knowing anything at all about the printed circuitry that makes it work.

Chains on Jobs

They have to stop!  They have to stop BEFORE they takeover health care.  If they don’t, pretty soon the only jobs in America will be…

  • government jobs
  • jobs for businesses that the government runs

That’s not Free Enterprise.

That’s not “life, liberty, and the pursuit of happiness.”

That’s not the America envisioned by the Founders.

That’s not the America Americans want.

America’s Security at Risk…

The National Debt…

Can you say trillions? A trillion is one thousand billions.  A billion is one thousand millions.

The true national debt at the time of this writing is fifty-five trillions; that’s 55,000 billions or 55 million millions.  That means America will pay China, the Oil States, and others not so friendly to the US $3.5 trillion in interest alone–not counting what we pay to buy their products and oil!

American’s misuse of credit looms as the single largest threat to our economy and therefore to our security, for it is our economy and the freedoms upon which it is founded that draws the world to us.

Shock yourself.  Visit http://www.usdebtclock.org/

Our Personal Debt…

While it is the nation’s economy that keeps America secure, it is our industry as individuals that keeps America’s economy strong.  Over the past forty years Washington and Wall Street have used Madison Avenue advertising to mislead Americans into unmanageable debt.  Take away the incentive to work by overpowering an individual with debt – particularly unsecured credit card debt – and you have the likelihood that such a person will give up and give in.

It’s time for every individual American family to address the Debt Paradigm.

Credit card debt is huge.

Here are a few statistics from early 2011…

  • Average credit card debt per household with credit card debt: $14,750*

  • 609.8 million credit cards held by U.S. consumers. (Source: “The Survey of Consumer Payment Choice,” Federal Reserve Bank of Boston, January 2010)

  • Average number of credit cards held by cardholders: 3.5, as of yearend 2008 (Source: “The Survey of Consumer Payment Choice,” Federal Reserve Bank of Boston, January 2010)

  • Average APR on new credit card offer: 14.73 percent (Source: CreditCards.com Weekly Rate Report, Feb. 9, 2011.)

  • Average APR on credit card with a balance on it: 13.67 percent, as of November 2010 (Source: Federal Reserve’s G.19 report on consumer credit, November 2010)

  • Total U.S. revolving debt (98 percent of which is made up of credit card debt): $796.5 billion, as of November 2010 (Source: Federal Reserve’s G.19 report on consumer credit, March 2010)

  • Total U.S. consumer debt: $2.40 trillion, as of June 2010 (Source: Federal Reserve’s G.19 report on consumer credit, November 2010)

  • U.S. credit card 60-day delinquency rate: 3.23 percent. (Source: Fitch Ratings, January 2011)

  • Read more: http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php#ixzz1H9tdTWho (You need to scroll down to bypass the offers.)

    Too Late To Wait…

    American families must rein in the use of credit or embrace the reality that other nations–some not so friendly to us–will soon be in a position to deny us the American Dream and dictate how we live our lives.  It’s not enough to blame the Congress and the President–although they certainly deserve it.

    Every American needs to discard the conventional wisdom of the failed Debt Paradigm and re-awaken to the economic principles and financial practices that the Founders and Builders of America paid forward to us in the Declaration of Independence, the US Constitution, and works like Benjamin Franklin’s The Way to Wealth.

    Until common sense about financial management returns to the psyche and the front-of-mind of everyday Americans, we will continue to send Debt Paradigm Dupes to DC; stimulus laws that only stimulate  bigger unions and bigger government; budget cuts that are cosmetic at best; bridges to nowhere built with money America doesn’t have–all, at our own peril.

    Health, Abundance, Love and Light