Monday, April 4, 2011

Steve Peters Commentary - #2784 - VIDEO: National Republican Senatorial Committee Video 'Endorsement' of Barack Obama for Reelection in 2012 - LA Times (2) The 19 Percent Solution - Reason.com (3) VIDEO: Power of the Market-How to Cure Inflation - When Inflation Comes, Blame Big Government - Investors.com


National Republican Senatorial Committee Video 'Endorsement' of Barack Obama for Reelection in 2012 - LA Times - The National Republican Senatorial Committee has produced the first campaign video for the reelection of President Barack Obama. The fact that the video was released on the eve of April Fools' Day should clue one into the idea that the "only political committee solely dedicated to electing Republicans to the U.S. Senate" probably isn't serious in its professionally made video in support of the top Democrat. Other hints that the Republicans are having a bit of a laugh: Most of the "accomplishments" cited in the video are tongue-in-cheek, and it concludes with Obama riding a unicorn on a rainbow. Read more.........  This video has received 572,719 views.  SP: Is there one person in America surprised by Obama's announcement for reelection? He wants four more years in our house, so he can play golf, entertain his friends on our dime, travel the world with our unlimited credit card apologizing for America, and in his remaining spare time, continue to destroy the American economy. If you believe in Santa, the tooth fairy, purchasing the Brooklyn Bridge from a cold call, and that Obama tells the truth when he speaks, do not watch this 60 second video. For the rest of you, enjoy the humor and the truth of the video.


The 19 Percent Solution - How to Balance the Budget Without Raising Taxes - Reason.com Here’s an appalling snapshot: During fiscal year 2010, which ended on September 30, the government spent around $3.6 trillion, or 25 percent of gross domestic product (GDP), while collecting $2.1 trillion in tax revenue, or 14.5 percent of GDP. The resulting deficit was $1.5 trillion. The total debt held by the public—the sum of all accumulated annual deficits and interest payments—reached 63 percent of GDP.  You have to go back to 1946, in the immediate aftermath of World War II, to find spending that was as large a percentage of GDP. You need to return to 1945 to find a deficit that big on a percentage basis as well. Just a few years ago, in 2007, the debt was 36.2 percent of GDP. If current trends continue, the Congressional Budget Office (CBO) projects, the number will reach 87 percent in 2020. Most economists talk about a debt equal to 60 percent of GDP as a trigger point where investors become very nervous about a country’s ability to pay its obligations.  Read more....... SP: This is an excellent detailed analysis of how we can rein in the government spending to it's long term historical level of 19% of the total economy. The article is well timed with Paul Ryan's budget numbers being released this week. If a voluntary tithing of 10% is good enough for God, why should the Federal Government take over 25% of the nations productivity every year?

Video:  Power of the Market - How to Cure Inflation 3 - When Inflation Comes, Blame Big Government - Investors.com - Economy: Amid the good news of a rebounding stock market and better job growth comes a warning: Inflation may flare up soon. If it does, don’t blame business.  Maybe you think it's crazy to worry about inflation when the consumer price index is rising at a modest 1.5% year over year. That's a valid point. It's also true that many of the items that make up inflation in our daily lives are climbing fast.  Raw food commodity indexes, for example, have hit all-time highs. And the broader CRB Commodity Index, including food, energy and industrial commodities, has run up 32% the past 12 months.  As anyone who owns a car or truck knows, oil prices have jumped 29% in the past year to more than $108 a barrel. This has pushed gasoline prices over $3.60 a gallon nationally, twice what they were when President Obama entered office. Read more......... SP: When Politicians attempt to correct problems that they created in the first place, like Fannie Mae and Freddie Mac with new legislation, they tend to make matters worse, not better. Behind our coming monetary inflation crisis you will find the Federal Reserve's printing presses running on overtime. Milton Friedman from his book, Free to Choose,"Inflation is a monetary phenomenon arising from a more rapid increase in the quantity of money than in output( like the recent sudden printing of trillions of dollars) In today’s world, government determines ......... the quantity of money."

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