Federal Budget vs. Household Budget: How Do They Compare? – Economy – daveramsey.com
Scott’s worldScott’s Conservative Blog
Category: Economy
I think people need to get a grip and quit threatening people who work for AIG. Congress approved the bonuses and with the help of the liberal media is trying to pass the blame on AIG and others. It is Congress that as passed these massive spending bills with out even reading them that is the problem!
If you want to punish someone for our current problems then you should have voted the Democrats out of office and not elected Obama last fall. The Democrats have controlled Congress for the last two years. Since it is too late for that now we need to take our anger out on Congress and the White House, let them know you are not happy at all with what they are doing! You need to see some of my previous posts like:
The men who brought down Wall Street Let me give you a clue, they were all Democrats!
The Sub – Prime disaster the Democrats caused this too.
Presidential Election Where I warned about some of what would happened if Obama got elected and the Democrats control both houses. Actually it has been worse than I imagined..
Ann Coulter lays it out that Wall Street is Democrat territory, these big bankers are NOT
Republicans or conservatives. On second though maybe we should punish them too.
I have just signed the “Stop The Spending” petition which opposes
the Obama budget with $1.6 trillion in new taxes, an oppressive
carbon tax and unprecedented deficits for years to come.
Petitions will be delivered soon to Congress — and a vote
is expected within days. Please go here to join me in signing:
http://www.grassfire.org/112/petition.asp?PID=20581031&NID=1
Scott
Categories
Why Are WE Bankrupt ?
Forward: WHY ARE WE BANKRUPT?
Informative, and mind boggling!
You think the war in Iraq is costing us too much?
Read this: Boy, was I confused. I have been hammered with the propaganda that it is the Iraq war and the war on terror that is bankrupting us. I now find that to be RIDICULOUS. (I wasn’t pretty much knew all this, just not the numbers, Scott)
I hope the following 14 reasons are forwarded over and over again until they are read so many times that the reader gets sick of reading them. I also have included the URL’s for verification of all the following facts.
- $11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments. Verify at: http://tinyurl.com/zob77
- $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens. Verify at: http://www.cis.org/articles/2004/fiscalexec.html
- $2.5 Billion dollars a year is spent on Medicaid for illegal aliens.. Verify at: http://www.cis.org/articles/2004/fiscalexec.html
- $12 Billion dollars a year is spent on primary and secondary school education for children here illegally and they cannot speak a word of English! Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.0.html
- $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies. Verify at http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html
- $3 Million Dollars a DAY is spent to incarcerate illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01html
- 30% percent of all Federal Prison inmates are illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt..01.html
- $90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers. Verify at: http://premium.cnn.com/TRANSCIPTS/0610/29/ldt.01.html
- $200 Billion dollars a year in suppressed American wages are caused by the illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt..01.html
- The illegal aliens in the United States have a crime rate that’s two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0606/12/ldt.01html
- During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also, as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin and marijuana, crossed into the U. S from the Southern border. Verify at: Homeland Security Report: http://tinyurl.com/t9sht
- The National policy Institute, estimated that the total cost of mass deportation would be between $206 and $230 billion or an average cost of between $41 and $46 billion annually over a five year period.’ Verify at: http://www.nationalpolicyinstitute.org/pdf/deportation.pdf
- In 2006 illegal aliens sent home $45 BILLION in remittances to their countries of origin. Verify at: http://www.rense.com/general75/niht.htm
- ‘The Dark Side of Illegal Immigration: Nearly One million sex crimes Committed by Illegal Immigrants In The United States .’ Verify at:
http://www.drdsk.com/articleshtml The total cost is a whopping $ 338.3 BILLION DOLLARS A YEAR.
Are we THAT stupid? If this doesn’t bother you then just delete the message. If, on the other hand, it does raise the hair on the back of your neck, I hope you forward it to every legal resident in the country including every elected representative in Washington , D.C. – five times a week for as long as it takes to restore some semblance of intelligence in our policies and enforcement thereof.
Categories
The men who brought down Wall Street…
http://www.youtube.com/watch?v=ivmL-lXNy64
Here is a quick look into 3 former Fannie Mae executives who have brought down Wall Street.
Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae’s accounting activities. At the time of his departure The Wall Street Journal noted, ‘
Raines, who long defended the company’s accounting despite mounting evidence that it wasn’t proper, issued a statement late Tuesday conceding that ‘mistakes were made’ and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company’s books ran afoul of generally accepted accounting principles for four years.’ Fannie Mae had to reduce its surplus by $9 billion.
Raines left with a ‘golden parachute valued at $240 Million in benefits’. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/
. The Government noted, ‘The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public.
The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner.’ These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae pofits.
Tim Howard – Was the Chief Financial Officer of Fannie Mae. Howard ‘was a strong internal proponent of using accounting strategies that would ensure a ‘stable pattern of earnings’ at Fannie. In everyday English – he was cooking the books. The Government Investigation determined that, ‘Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,’
On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant’s income statement to achieve management pay bonuses.
Investigations by federal regulators and the company’s board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard’s Golden Parachute was estimated at $20 Million!
Jim Johnson – A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight’s May 2006 report on mismanagement and corruption inside Fannie Mae, and you’ll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it
was $21 million.’ Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson’s Golden Parachute was estimated at $28 Million.
WHERE ARE THEY NOW?
FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic
Advisor
TIM HOWARD? Howard is also a Chief Economic Advisor to Obama
JIM JOHNSON? Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee
IF OBAMA PLANS ON CLEANING UP THE MESS —- HIS ADVISORS HAVE THE EXPERTISE – SINCE THEY MADE THE MESS IN THE FIRST PLACE!
SO, THE QUESTION YOU NEED TO ASK YOURSELF IS:
Would you trust the men who tore Wall Street down
to build the New Wall Street?????
If Obama gets elected and the socialist Democrats control both houses this country is doomed.. The Democrats are responsible for the current mess, not Bush other than he signed their bills instead of vetoing them. Barny Frank and Chris Dodd wrote the laws that “encouraged” banks and Fanny May and Freddie Mac to increase sub prime loans to people who could not afford houses. Those two government sponsored entities also gave large campaign contributions to the Democrats and gave several democrat congressmen including Frank and Dodd very low to no interest million dollar loans. Fudged their books so their CEO’s got huge bonuses, the chairmen James A. Johnson and Franklin D. Raines of Franny May got millions in illegal bonuses and now are on Obama’s advisory community and very likely will be given cabinet positions. Obama as a “community organizer” pressured banks to give sub prime loans to people who couldn’t afford to buy a house. You should look in to how Obama got his house and the Chicago politics that got him in to office in the first place.
It was the Clinton Administration, the Democrats, especially Barney Frank and Chris Dodd and Barack Obama’s own economic advisor, Frank Raines who are most responsible for this mess. All are Democrats.
McCain Says S.E.C. Chairman Should Be Fired
McCain warned of this two years ago
SubPrime
“type of loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans. Quite often, sub prime borrowers are often turned away from traditional lenders because of their low credit ratings or other factors that suggest that they have a reasonable chance of defaulting on the debt repayment.
Sub prime loans tend to have a higher interest rate than the prime rate offered on traditional loans. The additional percentage points of interest often translate to tens of thousands of dollars worth of additional interest payments over the life of a longer term loan.”
The same people who caused this problem are now writing the bill to “fix it”… Speaker Pelosi was blaming Bush for this, but if you notice since the Democrats have taken control of Congress gas and about everything else has gone up, and the stock market has gone to hell. My 401K is now worth less than what I’ve put into it. She also said Bush had squandered the surplus from the Clinton years. The only reason there was a surplus was because the Republicans were elected to stop them from passing national health care and other stupid ideas. The surplus was a lie anyway we still had a deficit and the only spending Clinton cut was defence which with his other policies was directly the cause of 9/11. Which wiped out any “surplus” we had. The economy was going into a recession at the end of the Clinton years because of the large tax increases he instituted took some time to take effect. The Democrats at the time accused Bush when he was running for his first term of “talking down the economy”. They have done nothing but talk down the economy the entire time he has been in office. If Bush has any failings it is he has gone along with too much of the Democrats agenda. He let Ted Kennedy write the Education bill and then they blamed Bush for it’s failings.. No matter what Bush has done the Democrats and their friends in the liberal media have criticized it.
The reason we are loosing all our companies is because thanks to the Democrats we have the highest corporate tax rate of any industrial country in the world. We are one of the few countries that has a Capital Gains tax.
Our energy costs are going though the roof because the Democrats have stopped every effort to develop the resources God blessed this country with for us to use. We have gone from importing 40% of our oil to 60% of our oil. For all of their complaining you’d think we get all of it from the middle east. We actually get most of our imported oil from Canada and Mexico. Most of our current problems are directly related to our rising energy costs and the devaluating of the dollar because of our ever growing debt.
If you don’t believe what I’m saying you need to watch Glenn Beck on CNN, he’s LDS and tells it like it is. I’d also recommend listening to Sean Hannidy’s radio show and maybe Rush. Get an education on the issues and don’t listen to the BS in the news papers, MSNBC, CBS, NBC, ABC ect..
We need to get back to the limited Constitution government we should have instead of the bloated vastly over grown increasingly socialist government we have now.
I just signed a petition demanding that Congress lift
the federal ban on offshore drilling immediately —
before they take their month-long summer break. Members
of Congress are doing nothing while gas prices soar.
Let’s put their feet to the fire! Join me in signing
here:
http://www.grassfire.org/108/petition.asp?PID=17678781&NID=1
Scott
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>From the Desk of:
Steve Elliott, President
Grassfire.org
6/17/2008
Scott,
I’ve just seen Lou Dobbs’ special report on the NAU and NAFTA
super highway, and I’m urging every member of our team to
watch his report that literally blows the lid off suggestions
that this is all “scare tactics” and “myths.”
Click here to see the video:
http://www.grassfire.net/r.asp?u=8286&PID=14268623
White house press release on NAFTA and SPP
http://www.whitehouse.gov/news/releases/2008/04/20080422-4.html
++ Sound the Alarm with Grassfire
Scott, we can’t count on most media outlets or elected
officials to tell us the truth about this very real and
growing threat to our nation’s sovereignty and security.
Over the next week, I’d like to add an additional 25,000
citizen petitions to our total–pushing us past the quarter-
million mark!
The NAU and NAFTA Super highway isn’t hype, or myth as many suggest.
This is a carefully coordinated plan being executed under the noses
of unsuspecting American citizens, and it is up to you and I to
start sounding the alarm!
As always, thank you for standing with Grassfire.
Steve
++ Read “The Late Great USA”, click here:
http://www.grassfire.net/r.asp?U=8283&CID=89&RID=14268623
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The reason you are paying over $4 a gallon for gas and our other energy costs are going through the roof is Congress! It isn’t George Bush’s fault, it is no coincidence that since the liberal Democrats took over both the House and Senate that our gas prices have almost doubled since. Also our economy has been going down because they have been down taking it down since Bush was elected president and they accused him of talking down the economy when he pointed out the problems cause by 8 years of the Clintons and the largest tax increase in history they brought us when he was running for office.
If you think the economy is bad now elect Obama and see what happens.. From what I hear from him “change” is to raise the taxes on everything! If you are barely getting by now wait until he raises taxes on energy, income, social security, medicare and then passes socialized medical care. It will totally collapse our economy. The reason medical care is so expensive is government has mandated hospitals give treatment to everyone who can’t or don’t want to pay for it, including millions of illegals which has about bankrupted the emergency rooms here in Arizona and forced the closing of a couple of them. They mandate what doctors will get for medicare which isn’t enough. This forces doctors and hospitals to pass on these unmet expenses to us in order to stay in business. My 90 year old grand parents just had to be moved out of the long term hospital care because the hospital wasn’t getting enough from medicare to keep the unit open and was loosing millions of dollars a year. There isn’t ONE damn thing the federal government does right or well and you want to put them in charge of your medical care??? Look what they have done with social insecurity and medicare! There isn’t anything the government can give you that they didn’t take away from you or someone else in the first place and the vast majority of people get back far less than is taken from them. There isn’t the constitutional authority to do most of what they are doing in the first place and the things they should be doing like protecting our boarders they are not doing.
The only people who pay taxes are the end consumer of the product or service that is taxed. If you raise the taxes on the “evil oil companies” they have to pass on the increased cost of business to the people who buy their products. If they didn’t they would eventually go out of business. You can not sell products for what they cost to make or less and make a profit that keeps your business operating. If you have a 401K or other retirement or investing plan you own a portion of oil and other business, if the business in your portfolio aren’t making a profit, neither are you on your investments. Anything government does to affect their profits affects YOU! If you think you are under taxed you are an idiot.
Back to energy, this is what I started to write about (I could rant about the problems with our government all day..) This is an excerpt from Glenn Beck’s website that was in his email news letter tonight. Glenn is about the only one on TV (CNN afternoons) that is telling it like it is. I don’t care for his radio show much but you HAVE TO WATCH HIS TV SHOW!! Thank God for PVR’s (hard drive based VCR with out the Video tape, I do have full time 48+ hour job) He is talking to Representative Chris Cannon from Utah’s 3rd congressional district.
=======================================================
Glenn Beck: Oil shale the answer?
http://www.glennbeck.com/content/articles/article/196/11464/
“GLENN: All right. So what is the — your bill takes all of the burden out of congress and puts it on the President’s desk?
CONGRESSMAN CANNON: Well, yeah. He is the executive and what it does is it gives him the ability to cut through seven years and make that seven weeks and so you sit down and you say, what do we need to do to protect the environment and what’s the process we’re going to use. And there are various processes that are very different and they are going to have different constraints. But then you give the President the authority to come to a conclusion and give a permit in a short time and then you monitor, see what’s going on. You may have to adjust that permit over time but at least you get people producing oil.
” ” “..
GLENN: Yet the will in congress is not. I’ve got a guy here who’s been waiting for a while to talk on the air and I’m going to put him on the air. His question is don’t you think that congress is intentionally trying to sabotage our economy for the election. Give me a reason here, Chris, why congress is doing the things that they’re doing. Why are they doing this? This is not in our economic long-term health by any stretch of the imagination to keep us shackled to terror states.
CONGRESSMAN CANNON: Yes, Saudi Arabia funding Al-Qaeda, Iran funding Hezbollah, Hamas. Human events had an article two weeks ago about an Iranian funded terrorist camp in the Venezuela. You know, we’re paying these people to undermine our interests and we’re propping up a —
GLENN: So what is stopping the congress? What is the motivation of congress to not free our hands?
CONGRESSMAN CANNON: Well, if you look at the numbers, they’re fascinating. The bulk of Republicans will vote to drill in ANWR, to drill in the continent she will, to drill in the Midwest to drill for shale. About 90%, in some cases a little more, a little less of Democrats vote against that and with the reps cans who vote against this and the Democrats who vote against this, we’ve not been able to get those things passed. We passed the right — there’s a prohibition against drilling in the Alaskan national wildlife preserve but we have to overcome what’s positive law. We passed that in the House a couple of times and the Senate actually passed it as well but the times we passed it in the House and the Senate didn’t pass it, then we had problems with a potential candidate being the critical vote there. So we have to get — the American people have got to express themselves on this issue and we’re about to put up a website called dollargas.us. I think it’s up yet but we want the American people to be saying we want a dollar, a dollar and a quarter gas. That’s where it ought to be. And if we were producing our own gas, our own oil out of our own resource here in America, one, we would have cheaper gas. And two, we wouldn’t be funding our enemies.
GLENN: Chris Cannon from the great state of Utah. Thank you very much. We’ll look at the bill. What is the bill number?
CONGRESSMAN CANNON: Oh, it’s — I think it’s 6811, but I apologize.”
TALK IS CHEAP GAS IS NOT
CANNON INTRODUCES LEGISLATION TO END DEPENDENCE ON FOREIGN OIL
http://chriscannon.house.gov/News/DocumentSingle.aspx?DocumentID=93388
Another Glenn article on energy.
Glenn Beck: Time to drill!!
http://www.glennbeck.com/content/articles/article/196/11377/?ck=1
Here is some thing you can do to encourage congress to quit screwing around and do something about our ever increasing energy costs.
Drill Here. Drill Now. Pay Less.
A Real Change Campaign to Lower Your Gas Prices petition
Drill Here. Drill Now. Pay Less petition
Last night one of my local news casts broke down the costs per dollar of gas.
75¢ Crude oil
17¢ Taxes
13¢ Distribution
5¢ Local gas stations
- What an idea! Compressed air will provide the needed energy to drive these Cars.
=================================================================
This CONSERVATIVE ALERT is a special message from RightMarch.com:
Congress is Refusing to Consider Bill to Bring Gas Prices Down — Click Below to Tell YOUR Rep. to Co-Sponsor the Affordable Gas Price Act:
http://capwiz.com/sicminc/issues/alert/?alertid=11472501&type=CO
ALERT: Well, gas has finally hit over four dollars a gallon where I live. And it doesn’t look like these rising prices are going to slow down any time soon.
If this keeps up, the American economy will be devastated.
So what does Congress do about this crisis? One group blames OPEC and Venezuela, calling for us to “fight back” against them — which will only lead to retaliation and higher prices. Another group blames the oil companies, calling for a massive “windfall profits” tax hike on them — which will only be passed on to consumers and lead to higher prices. Still other groups blame Americans themselves, and call for extreme restrictive conservation measures to be mandated on “oil-hungry” citizens.
And nothing gets done. And gas prices keep shooting up.
Plus, these big government solutions will, at best, prove ineffective and, at worst, bring back the fuel shortages and gas lines of the seventies.
Over a year ago, legislation was introduced that would not only counter the extreme environmentalism of the liberals, it would also counter the government’s own inflationary monetary policies that have led directly to the crisis we’re facing today.
That’s right. As usual, the government doesn’t have a solution to the problem — the government IS the problem!
House bill H.R. 2415, short-titled the “Affordable Gas Price Act,” was introduced on May 21, 2007. The official title of the bill states its purpose:
“To reduce the price of gasoline by allowing for offshore drilling, eliminating Federal obstacles to constructing refineries and providing incentives for investment in refineries, suspending Federal fuel taxes when gasoline prices reach a benchmark amount, and promoting free trade.”
So for over a year now, Congress has had available to them legislation that reduces gas prices by reforming government polices that artificially inflate the price of gas.
And not one of them has even had the guts to sign on as a co-sponsor.
THIS IS OUTRAGEOUS. It’s time our “representatives” are FORCED to stand up and do the right thing, instead of posturing and posing for the cameras while the rest of us are struggling to decide between eating and putting gas in the tank.
So WE need to do the FORCING!
TAKE ACTION: We don’t need more “big government solutions” — we need common-sense solutions that will bring back sanity to our energy policies. Instead of expanding government, Congress should repeal federal laws and polices that raise the price of gas, either directly through taxes or indirectly though regulations that discourage the development of new fuel sources.
These Congress-critters should also get off of their ideological high horses, and allow Americans to enjoy the benefits of free trade with oil-producing nations that are now restricted by misguided and outdated trade polices, which are also artificially raising the price of gas.
Congress needs to STOP ignoring this bill, which could finally bring gas prices down while also addressing the root causes of government-induced economic crises like this one. Please click below NOW to send a FREE message directly to your Representative, and DEMAND that he or she become a co-sponsor of H.R. 2415, the “Affordable Gas Price Act,” TODAY:
http://capwiz.com/sicminc/issues/alert/?alertid=11472501&type=CO
Sincerely,
William Greene, President
RightMarch.com
P.S.: The likelihood that this common-sense bill will advance beyond the committee stage and be voted on by the House increases in proportion to the number of cosponsors it has! Be sure to send this Alert to EVERYONE you know who wants to DEMAND that members of Congress finally get off of their rear ends and bring gas prices down. Thank you!
DIGG: http://digg.com/politics/FORCE_Congress_To_Bring_Gas_Prices_Down
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