The Ticking Time Bomb in Perspective

“Uh hi, I’m from the government and we’re kinda outta money . . . .”

Hat-tip Sue. This is the winning video from PowerlineBlog it’s over a year old, so of course the numbers have changed -and they haven’t gone down!

We have to start doing things differently!

Take a look at this:

http://youtu.be/tLoYxr8gOP4

Aloha, Mikie ~just a blogger (fightin’ like a girl)

World’s Largest Bond Fund Say “No More” to US Govt Debt

Basta, nada mas, enough already! According to the Daily Caller, Investment Management Company also known as Pimco, the world’s largest bond fund dropped all government related debt from their Total Return Fund last month. WHY?

It’s pretty simple, yields will be too low and they blame the Federal Reserves practice of printing money thereby making our currency worth less (soon to be worthless?). The Federal Reserve likes to call this practice “qualitative easing” (QE2), but it’s the same -printing money to allow the Fed to purchase financial assets and government bonds that nobody else wants.

This is yet another indication that we need to get the deficit and government spending under control –now! Oh, and another thing- it would be a good idea to severe the incestuous relationship between the FED and Goldman Sachs.

Aloha, Mikie

Dare2Kerr@gmail.com

Holy Cattle – This Just in from the IRS

Yesterday’s Daily Caller reports:

The Internal Revenue Service says it will need a battalion of 1,054 new auditors and staffers

and new facilities at a cost to taxpayers of more than $359 million in fiscal 2012 just to watch over the initial implementation of President Obama’s healthcare reforms. Among the new corp will be 81 workers assigned to make sure tanning salons pay a new 10 percent excise.

Does this look like a president who now understands what ‘We the People’ want in the way of deficit reduction? If this isn’t a case for a total tax reform I don’t know what is. Do you think the IRS came out with this on their own? I doubt it, they are at the beck and call of the administration which continually talks out of both sides of their mouth.

The President’s budget does not include a single difficult decision, yet he says he is willing to compromise and work with the House Majority. Where’s the leadership here? This makes them the villains when they do come up with the real substantial cuts necessary. It’s the same with the GOP being forced to shut down the government if they push for conditions on raising the debt ceiling.

First of all, everyone needs realize that shutting down the government is not a bad thing. It’s called Time Out!

Mitch Daniels, a likely GOP presidential candidate tells it like it is regarding doing the hard work of deficit reduction,

“When infinite demand meets finite supply, you have a problem.”

But even better, Daniels admits his fellow Republicans need to admit this too and get down to work. Just like senator Rand Paul says, it’s not just Republican vs Democrat, it’s can the country sustain that level of debt?  Answer:  Not even!

Please urge your Congressmen and women to get serious on the budget (and part of this is tax reform). All entitlement programs need to be cut (medicare, medicaid and social security) and there needs to be means testing to qualify for entitlements. Here’s all you need to do:  find your state on this map and away you go!

Aloha, Mikie

Dare2Kerr@gmail.com

Trimming That Deficit

In todays’ Wall Street Journal –  earth shaking new ways to save money brought to you by the Federal Government.

• The Dept of Justice will do it’s part after discovering there are 2 sides to paper by doing double-sided copying and printing!
• The Forest Service will no longer repaint it’s new white vehicles green immediately upon purchase.
• The Army will start packing more soldiers onto R&R flights.
• The Navy will delete unused email accounts.
• A division of the Treasury identified unused phone lines costing $320,000 which can be canceled.

All this only 3 months after Cabinet Secretaries were ordered by Obama to trim the federal deficit by $100M. They are to be congratulated for actually coming up with $102M, but that only scratches the surface of the projected $2 TRILLION deficit. In fact it represents a mere .006% of the total.

The Federal Reserve's counterparts in Japan

My guess is if more of the Feds didn’t have such easy access to OPM (other people’s money), these are things that would have never happened in the first place. The only way to really curtail spending and the blatant largess by the government is to slow down the flow of our money to the Federal Government.

Aloha, “Mikie”
email:  Mike@MikeSells.com

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