Debt Ceiling, Deficits, Bankruptcy, Crisis


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As expected, the drama of fiscal cliff talks, orchestrated by the two, so called, major political parties, ended up, giving a totally worthless deal. It does not do any significant reduction in federal government spending, which is the actual problem, and raises taxes on almost every tax paying American. This is ridiculous and makes absolutely no sense. With this deal, now passed by corporate controlled congress, and signed into law by the president, who loves to spend, we, as a nation, are now confirmed to be heading towards bankruptcy, and full blown sovereign debt crisis, very much like Greece, just worse, because, our over all economy is far bigger then Greece, and our net debt is far more. Hence, no one is big enough to help us, when we hit that crises. It is going to be a completely free fall, from heaven.

Congressional Budget Office, CBO, estimates that the deal, which is given, a highly deceptive name of “American Tax Relief Act of 2012”, as usual, is going to cause an additional deficit, hence, the debt, of 3.971 Trillion dollars, between 2013-2022. Taxes, on all tax paying Americans will be raised by an average of 1.8%. So, what did they accomplish, after all that high stake and high profile drama?….. Nothing! How pity? Is this, they are elected for? Is this, we voted them for? Is this, they are getting paid for, by tax payer’s money? I have no clue, why Americans keep wasting their voting power on these idiots? Don’t you think that it is the time for a third option? A third party, which really loves this country and it’s constitution. A third party which is serious about putting this country’s fiscal house in order, and which, at the same time can guarantee, all the constitutional rights, we have.

The worst part of this is that Obama pushed very hard to get the authority to increase debt ceiling, when ever he wants and as much as he wants. Thank you God, they did not agree to that. That would have been the last nail in our coffin. There are several measures, placed in constitution and laws, to limit and stop the proliferation of government. Unfortunately, mainly due to the ignorance of voters, government has been able to bypass most of these measures. Debt ceiling is one of the few most important measures, still left in place. That is why Obama and liberals hate it, so much. The reason for this is that you need unlimited amount of money to run big government and it’s unending entitlements. Our government has about 2.6 trillion dollars in revenue, which is far more then any other government in the world. But, unfortunately, the government has grown so big that even this huge revenue is not enough for it. Government is running about 1.2 trillion dollars annual deficit, now, which is about 50 percent of it’s revenue.

Can you believe that Obama and his allies, still do not accept that they have a spending problem. You have a 2.6 trillion dollars revenue, you are spending 3.8 trillion dollars, and you still have the guts to say that you do not have a spending problem. You still want to solve this problem by increasing taxes, which is crazy and impossible. There is absolutely no way that, under current circumstances, you can raise your revenue base to 3.8 trillion dollars. So what option is left. If you have ever run personal, family and / or business finances, your easy and immediate response to this question would be to cut the spending. Unfortunately, Obama and his liberal allies could not understand this logical and obvious answer. Increasing taxes and mounting burden of debt is killing our currency and economy. It is seriously compromising our national security. With this financial situation, do you think, we can fight a war with China, if we have to or if we are attacked?

Obama, frequently, uses the term “fair share” for his tax hikes. Just to give you an example, the people who make 10 million or more per year, and who are about 0.01 per cent of population, pay about 7.9 per cent of the tax revenue, while 47 per cent pay nothing. These 47 per cent include multi-billion dollar corporations like GE and Bank Of America. Great! This is the fairness in our taxation system, which Obama wants to increase. The worst part of this picture is that all this money is being spent on an institution that could easily be much leaner and a big portion of this money could be fueling the economy, instead of getting wasted by inefficient and corrupt government. In 2012 election campaign, Libertarian party presidential candidate, Gov. Gary Johnson, showed, how our government can easily be slashed down to a size, right now, where 2.5-2.6 trillion dollars revenue is more then enough for it. But, of course, under the influence of corporate media, Americans mostly voted for two crooks, Obama and Romney.

My friends, in my view, there are two key elements, of enormous effect, in the generation of our current fiscal crisis; dominance of big, corporate media, on our society, and two party duopoly on our political system. Internet has already challenged the big media. Reliable and honest, online sources of information, are increasing in size and number, for an average Internet user. Despite, the negative campaigning of traditional big media, against the reliability and quality of Internet based information sources, people are realizing that nothing is perfect, but, many Internet based sources of information are far more reliable and honest then big media. Once their supporters in big media crumble down, the duopoly of these two parties is going away with it. Unfortunately, this is going to be a long and slow process. As a nation and country, being crushed by rapidly growing fiscal crisis, we may not have that much time. This is a matter, which is getting more and more urgent, every day. So, every one of us has a critical role to play. Use your personal, neighborhood, work, family and social media contacts to spread the word. Tell them about this ticking time bomb, and convince to create a ripple effect, by each of theirs own efforts.

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