Wednesday, May 12, 2010

Barack Obama, and Democrats in Congress - #1722 -Why 'We the People' Will Go To the Polls and Vote You Out!

U.S. Posts 19th Straight Monthly Budget Deficit - Reuters - The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday. It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue. Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years. The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.  Read more......

Administration Threatens to Veto Health Spending Bill After Price Tag Jumps - Fox -   The Obama administration threatened to veto parts of its own health care bill after budget scorekeepers found that the package would add at least $115 billion more to government health care spending.  President Obama's budget office charged Congress with finding $115 billion in spending cuts or tax increases to offset the price tag hike. The figure approached the amount of money the Congressional Budget Office previously estimated the law would save, and pushed the total 10-year cost of the package past $1 trillion. It comes after a separate Medicare office report found the bill would raise spending by about 1 percent over the next decade.  Read more.......  How many thousands of telephone calls, emails, visits to local, state and Washington D.C., were made to Congressional offices by 'We the People' to tell Congress and the President, all their estimates were based on lying, misrepresentations and continual misleading us. Now you expect us to believe you are shocked and dismayed at the figures the CBO is publicizing??  Wait until November and see if we believe anything you say now!!!

Federal Mutual Fund - Investors Business Daily - Government Retirement: Democrats have obliquely admitted they covet Americans' pensions. Last week, congressional Republicans told them to stay away. The shame is that they had to do anything at all.  The first rumblings were heard in the 1990s, when Democrats were said to be coming after our retirement accounts. Back then, the warnings were easy to pass off as hyperbole or a cranky conspiracy theory. Today, they pass as prescient.  In January, Bloomberg reported the "U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and individual retirement accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry."The idea," they said, "is for the government to take your retirement savings in return for a promise to pay you some monthly benefit in your retirement years.  "They will tell you that you are 'investing' your money. ... But they will use your money immediately to pay for their unprecedented trillion-dollar budget deficits, leaving nothing to back up their political promises, just as they have raided the Social Security trust funds."  Read more  Here is another article on Congress and Obama seizing  our 401K Retirement Accounts.  Please read the entire article.  See also Post #1685.

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