Vote NO on Debt Ceiling Increase

Vote NO on Debt Ceiling Increase

Dear Randy,

The Federal Reserve is already publicly committed to print some $75 billion a month to service massive federal budget deficits and allow the federal establishment's unchecked expansion to continue.

This massive subsidy to rampant federal spending was never voted upon by Congress or the American people – at least $600 billion in new money is being printed and given to the insolvent federal government – completely beyond the control of democratic processes that define a free America and further destroying the value of every dollar you earn, spend, save, or invest.

The only way to put a stop to this insanity is for Congress to REFUSE to raise the debt limit.

Randy, I know that Members of Congress who think like you and I do are being derided as "The Shutdown Caucus", but if Republicans cave in and join with the Democrats to raise America's debt ceiling above the already staggering current limit of $14.3 trillion, Obamacare will be funded, the bailouts will continue, and out-of-control federal spending will get worse.

Our national debt is already 90% of gross domestic product (GDP). By increasing the debt to 100% or more, America could join the ranks of banana republics which have destroyed their currencies and plunged their economies into chaos.

No more federal debt on the backs of our children and grandchildren!

NO NEW DEBT FOR THE OBAMA AGENDA!!

The Administration's Budget for 2011

Congress needs to go back to the drawing board on the FY2011 budget.

If enacted this budget plan will balloon the deficit, dramatically increase taxes in a tough economy, and undermine job creation. Plagued with record-breaking spending and larger deficits than ever seen, this plan is a surefire way to slow economic growth, slow employment, and make U.S. companies less competitive around the globe.

Job creators, investors, and higher income Americans, including many small business owners, will be the hardest hit by punishing tax increases. According to initial reports, there are nearly a half a trillion dollars in business tax hikes over the next 10 years, including taxes on energy, financial transactions, unemployment insurance, firms using independent contractors, and foreign earnings. Imposing these taxes in a weak economy will delay our economic recovery, hurt business expansion, and slow job creation.

While the FY2011 Greenbook is full of tax increases, it offers little in the way of tax cuts to help businesses grow.

Additionally, the discipline envisioned on the spending side of the equation is weak.

The spending freeze, initially announced with fanfare, covers only a small sliver of the federal budget pie. Federal spending will grow to a record $3.8 trillion in FY2011, more than 25 percent of the nation's GDP, a post-World War II record. The bipartisan deficit reduction commission the president plans to organize would have no binding influence over this or any Congress.

Using its own numbers, the administration's proposed budget deficits will cause debt as a share of the economy to rise by 13.6 percentage points to over 77 percent.

Deficits of this magnitude are unsustainable. Such heavy borrowing by government crowds out the capital available for the private sector, threatens to reignite inflation and higher interest rates, and cedes too much leverage to foreign debt holders.

I know that there is no perfect plan to erase the deficit and balance the budget. However, serious deficit reduction can only begin with robust economic growth, expansion of the tax base, and serious entitlement reform.

Patriotic to pay more taxes...???

Dear President Obama,

Vice President Joe Biden said during the 2008 campaign that it is patriotic for Americans to pay more in taxes.

Since taking over control of Washington, the Democrats have decided we should all be more "patriotic" having passed or proposed more than $5 trillion in new spending and $1.4 trillion in new taxes.

I don't believe that it is patriotic to pay more taxes.

And I do not approve of the $1.4 trillion in new taxes, $636 billion in higher energy taxes, the staggering redistribution of wealth and wasteful spending you are prescribing as a cure for the economic crisis.

To hold the Democrats in Washington accountable for their record tax, spend and borrow schemes, I am sending a virtual tea bag to protest your plans to raise taxes on every American this Tax Day.

Sincerely,

Dr. Chris Albritton

Obama doesn't want TARP money returned to tax payers

On Friday April 3, 2009, President Obama refused to allow JPMorgan Chase bank to re-pay the TARP money back to the US Government.

Obama had a meeting with the CEOs of some of the big US banks.

JPMorgan Chase CEO Jamie Dimon insisted that he’d like to give the government’s TARP money back as soon as practical, and asked the president to “streamline” that process.

But Obama didn’t like that idea — arguing that the system still needs government capital.

Several CEOs disagreed, arguing instead that returning TARP money was their patriotic duty, that they didn’t need it anymore, and that publicity surrounding the return would send a positive signal of confidence to the markets.

The president offered an analogy: “This is like a patient who’s on antibiotics,” he said. “Maybe the patient starts feeling better after a couple of days, but you don’t stop taking the medicine until you’ve finished the bottle.” Returning the money too early, the president argued could send a bad signal.

Read the full report here:
http://www.politico.com/news/stories/0409/20871.html

I wonder why Obama thinks he’s so much smarter than the CEOs of some of the largest US banks…?