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  • White House Confirms Continued Trillion-Dollar Budget Deficits

    The White House today released its updated federal budget projections. By releasing the report late on a Friday afternoon—a longtime Washington tradition for stories that politicians want to bury—the Obama Administration is effectively admitting that its budget numbers will not be well-received.

    The “Mid-Session Budget Review” projects that this year’s budget deficit will reach $1.471 trillion, or 10 percent of the economy. In nominal dollars, it’s the largest deficit in American history. As a percentage of the economy, it’s the largest deficit since World War II.

    This will be the second consecutive year of trillion-dollar deficits that approach 10 percent of the economy. By comparison, the previous post–World War II record was 6 percent of the economy in 1983. Under President George W. Bush, deficits typically ranged between $160 billion and $400 billion (around 3 percent of the economy).

    And the Obama Administration concedes that these large deficits are here to stay. It projects another $1.4 trillion deficit in 2011, followed by sustained deficits that never fall below $698 billion. The national debt held by the public—$5.8 trillion at the end of 2008—would soar to $18.5 trillion by the end of this decade.

    These future deficits are driven almost exclusively by rising spending. President Obama’s budget would push inflation-adjusted federal spending past $36,000 per household by 2020—$12,000 above the level that prevailed under President Bush. Even President Obama’s enormous and anti-growth $3 trillion tax increase proposal won’t stop this spending spree from pushing the national debt to economically dangerous levels.

    The Mid-Session Budget Review also confirms the failure of Obama’s economic agenda. The President concedes that the unemployment rate will remain at nearly 10 percent this year and not revert to pre-recession levels until 2016—and even that is based on the same optimistic Keynesian economic models that claim the stimulus created or saved 3 million jobs. If this is economic policy success, one wonders how failure would look.

    With the Mid-Session Budget Review, the Obama White House has once again confirmed its agenda of runaway spending, surging taxes, and soaring budget deficits. And its economic figures concede that high unemployment rates will be a mainstay of the Obama presidency.

    Posted in Ongoing Priorities [slideshow_deploy]

    12 Responses to White House Confirms Continued Trillion-Dollar Budget Deficits

    1. Pingback: Virginia Right! News Hound for 7/24/2010 | Virginia Right!

    2. Pingback: Must Know Headlines 7.25.2010 — ExposeTheMedia.com

    3. Billie says:

      Let's start with what the feds shouldn't be involved in, in the firs place. Every aspect of our individual, personal lives.

      Stop all advertisements, They have programs on "how to be a dad.gov" (something along those lines.) My gosh, that seems nothing but insulting and needless. Then there's advertisements on welfare recipients demanding the government provide nutritional lunches at no cost, (but to the tax payers) for school kids? Hello parents. How about providing that lunch you so want for your children your actions brought into this world at YOUR EXPENSE? Another commercial specifically stating "how can you get experience if no one hires you?" trailing off into some government hand holding. With government influence, people forget they have to apply before anyone will hire them.

      This unnecessary hand holding has to be removed. The president has to have something along the lines of respect, willingness, and acceptance for people to do for themselves as America established before obama. obama's actions are very sad for immigrants who came to live free from government control. If immigrants weren't misdirected by government authority, they would have the dignity and respect to live under America's freedom, within civil law.

      They're spending needlessly, insulting all walks of life who's voices sound respectful, logical solutions, as government removes freedoms and liberties in the process. Get the feds out of education, private business, health and all areas of our individual lives. Government needs discipline back to their basics of their expected duty the government continues to crowd out.

    4. George Colgrove says:

      Billie,

      I agree fully. Get the government back to pre FDR levels. Close all domestic agencies – education, HSS, transportation, energy, etc. Privatize all services that have been called inherently governmental such as permitting, employment, freedom of information, public information and so on. Privatize all national parks.

      Strengthen the soldier side of the military at the same time reduce the civilian population of the department of defense. Transfer these jobs to enlisted military.

      Remove the idea that government jobs are too specialized. Require specialized jobs to be simplified or put them out to the private sector to gain the benefits of competition.

      Eliminate all fed benefits. Adopt a new program called BYOB – bring your own benefits. The federal government will pay up to a certain percentage of the benefits the federal employee brings (to a maximum amount). Require pay to be in line with the private sector. Limit the aggregate number of years a federal employee can work in all government to 10 years. This will force all in government to have private sector experience either before or after entering public service. Upper level management WILL have private sector experience. This will eliminate career government employees.

      Make a law that any particular union cannot represent more than 25% (or at most 33%) of any governmental body.

      The cost of government will go down considerably when the federal employee stature has been weakened. The fact they get pay and benefits that far exceed that of the private sector shows that work force is a massive drag on the economy and needs to be reined in. A weakened fed will limit the number of additional programs that are created.

    5. AMy says:

      THIS is why I have joined the Tea Party!

    6. Pingback: Must Know Headlines 7.26.2010 — ExposeTheMedia.com

    7. Pingback: The Patriot's Flag » Hedge Funds, Meltdowns and Fraud

    8. Wildcat from Dallast says:

      Most of us have heard the “smoke and mirrors” concept when it comes to politicians actions especially inside the beltway. The problem we are facing now is that the current crop of “corruptocrats” doesn’t even take the time or make the effort to use this old method of scamming (or conning) the people. They are simply extremely lazy and firmly believe they can get away with saying one thing [that you probably don’t want to hear anyway] which usually means one thing while simultaneously doing something exactly opposite of what they said. Who can forget the alleged healthcare reform debacle and all the antics done by a whole host of corruptocrats to get that monstrosity passed?

      While there did exist a nominal albeit manageable deficit when BHO took over; it grew unnecessary at an alarming rate once he took office. The most significant blunder prior to BHO taking office relative to the budget and unnecessary deficits was the creation and implementation of the Troubled Asset Relief Program (TARP). That too should have never been foisted on the American taxpayers as methods and rules (and laws) to effectively deal with such situations already existed. While some pain would have been felt in one or two major sectors of our economy, we would not have experienced the overall magnitude unnecessarily inflicted on all of us taxpayers!

      There is nothing we can write on The Heritage Foundation’s blog that would have a positive impact on halfwit subpar fiscal and economic policies emanating from BHO’s administration but what we can effectively do is render solid policy ideas that perhaps our conservative candidates can use to develop cogent well thought out genuine changes in policy direction that would help them get elected and eventually put into place. If we were a bonafide banana republic one of the viable answers would be a coup, military or simply by the citizens followed by dramatic changes in direction. Since we are not [yet] that kind of Republic, we should focus on eliminating those few causing so much pain for all of us.

      *Remember, “We cannot make the weak stronger by weakening the strong”, which apparently is the policy by BHO personally and by his administration as they appear to be following the Cloward and Piven Plan from 1966 to bring down the United States from within since it cannot be done militarily from the outside.

      A comprehensive plan, in my assessment, would begin by satisfying the requirements and obligations contained within our Constitution first. Then I would simultaneously reduce the size and scope of the federal government, implement a program of analysis and evaluation to identify by agency and individual where and whom to cut as well as a review of entitlements to either slash entirely or dramatically reduce with an eventual date. I would also dramatically change the concept of the federal income tax as well as establish a deficit reduction and payment plan while changing the current method of borrowing money and designating funds to programs by eliminating the method we know as the pork laden earmarks.

      An example of this includes providing for the common defense and national security. We need to do this as the states and individuals are prohibited or incapable of doing such respectively. I would eliminate the Department of Energy as it was implemented during the Carter administration to get us off of foreign oil thereby making us energy independent. They have failed long enough and are nothing more than a drag on our economy and the federal budget. As far as the Czars and their strap hangers-gone! Entitlement reduction would be those enacted with good intentions by Johnson’s Great Society in which unwed mothers would get money for each child they had. It only promoted promiscuity and the breakdown of the American family. At this time they get $1500 per month per child not including the free healthcare, free school lunches etc. There is an example from about three years ago of some such unwed couple in the vicinity of Atlanta, Georgia where the 23 or 24 year old father was killed in a drug deal gone bad but where the local paper had his obituary written and published as a young 23 or 24 year old entrepreneur died tragically leaving behind his partner and their 9 children! Do the math and you will quickly learn they were getting $13,500 a month not including all the other free services! An investigative reporter later did an article on that situation and had her article published that related he had been charged on more than one occasion with drug related crimes and charged with murder for killing another rival drug pusher but that was then dropped for some inexplicable reason. The change here would be the unwed but of age mother (18 years old +) would be eligible for assistance for the first child only! After all, she should now know what caused that situation (pregnancy) and can take measures to prevent such from happening again thereby not causing the unwanted situation of bringing a baby into the world without the means to provide for basic care. If she gets pregnant before she is 18 years old, she her parents have the financial responsibility to care for the child. The end date for the newly established eligibility would be two or four years from inception with the last such payment 18 years from that date. Along with this would be absolutely ending any entitlements for illegal aliens and the elimination of the concept of “anchor baby”. All birth certificates issued to those who would have been categorized as “anchor babies” would have the additional identifier of “ILLEGAL ALIEN” and maintained as such in all State and Federal Government databases and all biometric measurements taken at time of birth. All illegal immigrants captured would have comprehensive biometric data taken before deportation with the proviso of “NO Second Chance” and “NO Chance of entering a path of legal citizenship” to specifically detail the incarceration if caught here illegally again with penalties up to and including death. They would have chain gang under armed guards to clean up the trash illegal aliens littered our country with as they traversed rugged terrain from Mexico to points north as they lived in tents with minimal yet adequate nutrition and hydration and only limited medical care. After all, Mexico and Iran don’t exactly have pleasant consequences for illegally entering their country illegally. On the federal income tax and deficit reduction and payment plan I would eliminate the federal income tax, implement the Fair Tax (to handle our operating costs) and implement a 5% VAT with 50% of that going to repay the Medicare “IOU’s” put in there by past corruptocrats and the other 50% going to pay off the principal of the debt. If one becomes satisfied then the entire amount goes towards the remaining debt with a 10 year surplus to be added to the strained Medicare, now, “Irrevocable Trust Fund” that elected officials, appointees and others cannot access except to pay for Medicare benefits. You get the idea.

      It may be worth planning and actually doing but I would not have any candidate speak about this next idea until it was enacted. That would be seizing all records of the Federal Reserve, accounting and all other written, recorded and electronic data storage and retrieval systems. Forensic accountants would be turned loose on this treasure trove of financial data as well as a team of investigators tied to a special investigator. The actual debt determined, any suspect deals or possible criminal acts fully investigated and dealt with adroitly. Then the Federal Reserve Bank would be abolished.

      Fannie and Freddie would be fully investigated and allegations of wrong doing pursued along with those who enacted such insane policies of establishing a system where money is knowingly given to people to make the largest purchase in their life without any reasonable ability to pay for the loan. Once analyzed, if the results indicate the optimal solution would be to abolish them, then by all means they too are gone.

      Federal budgets would be developed based upon known requirements with projected costs and within the amount of tax revenue expected to come in, not by borrowing to pay for things corruptocrats want but we neither need nor are they included in requirements of the Federal Government by our Constitution. Earmarks are abolished as they are not budgeted items and are they for things required of the Federal Government by the Constitution. The wasted money for “make work” projects or special interests would now be saved. Our elected officials would be forced to live within their means.

      Term limits would be put to the voting citizens as a referendum. The presidential term limits would remain with a total elected federal service limit of 16 years and a total of elected and appointed federal service excluding Supreme Court Judges of 20 years, both without being able to become lobbyists upon completion of federal service and without transitioning between government service and lobbyist employment and returning to government or vice versa.

      I would also repeal Obama care and the financial reform law immediately and enact simple yet effective genuine healthcare reform including limiting malpractice awards, ability to buy health insurance (and other insurance) across state lines, severely limit the so-called free mandatory services imposed on insurance companies, eliminate the pre-existing clause issue but allow insurance companies to charge a reasonable rated up amount and incentivize personal financial responsibility and accountability for healthcare and nursing facility care to reduce the federal government’s unfunded liability to the most expensive care for citizens (assisted living and skilled nursing facility care). The incentive part would be tax free money spent on health insurance premiums (health/accident/Medicare Supplement & Long Term Care [LTC]) so that the federal government only pays for the first month or two months of nursing facility stay (usually the cheapest time of a long term nursing stay) thereby lessening your personal financial impact both during the period in which you pay premiums and at the time of need when you may not want to take money out of savings (if it is even available) to pay for the first month or two of service. The key to that aspect is you must obtain, maintain and prove that you have LTC insurance with the following benefits and riders: Lifetime benefit period, 30 or 60 day elimination period as determined by law prior to inception of this program, inflation rider, return of premium rider and a daily benefit amount no less than $50 above the most expensive type of care [Dementia or Alzheimer’s Unit] up to no more than $200 above that daily cost at the time of taking out LTC insurance. The federal government greatly reduces it unfunded liability and you get several benefits including maintaining your choice of nursing facilities, non-taxed premium dollars to pay for LTC insurance premiums and you will not be taxed on the amount above and beyond the cost of your care that you can keep. You also have to maintain your Medicare coverage and Medicare Supplement insurance (no tax on either of these premium dollars) in order to get this deal. Keep in mind that once you start collecting benefits on you LTC policy, you don’t pay any more premiums! You would only be paying your Medicare & Medicare Supplement insurance premiums.

      Other health insurance related tax and business reforms would be to mandate businesses that provide group health insurance for their employees to write off the cost of these premiums as a cost of doing business thereby eliminating the financial drag on the employees’ personal financial status. That would provide additional usable money for citizens to spend as they wish. Eliminate the coordination of benefits laws to allow those who go the extra distance by purchasing accident insurance to use that money to pay for such unplanned deductibles (like ER room fee etc.) or keep it as they see fit. The same non-tax policy would extend to vision, dental and dreaded disease policies such as cancer policies. The more personal responsibility you take the greater the freedom and benefits are and consequently your country’s fiscal status improves as well. Two other changes would be returning the Social Security pay as NON-TAXED and non-taxed life insurance premiums. While life insurance premiums for those older citizens is not cheap, the law would grandfather them (so-to-speak) as the intent would be to individually insure the lives of small children (in order to keep your cost as low as possible) to get as much permanent insurance that cannot be revoked later due to changes in your child’s health.

      I might even pose that the State and Federal Government can also obtain a life insurance policy on each citizen when you purchase yours (or your child’s) as a way to enhance the financial state of the country. They (the State and Federal governments) would pay the premium for that insurance with no affect on your policy. They know, like you know, this is not “IF” insurance it is “WHEN” insurance. And while you may purchase as much life insurance (the face value) that you can afford or want, the government may purchase a much larger amount within the limits of the newly established law. For example, you may have purchased a $1,000,000.00 policy but the government may have purchased a $10,000,000.00 policy to partially cover the costs of benefits they expect to pay out over the citizen’s lifetime and to make up the loss from the 55% death tax on estates. Either way, you get to purchase the policy with tax free dollars (to pay the premium) and receive the tax free death benefit and not have to pay the dreaded death tax or estate tax and the government gets to collect some money based upon a financial contract that you do not personally have to pay for. And, if this is started when the child is very young (birth to 2 years old), the cost is at its lowest and the benefit is at its greatest.

      I would have the recently passed financial reform piece of excrement that was signed into law repealed as well as any other former idiotic financial law that protected the criminals who set it up or which did not do what it was supposed to but ended up hurting the American citizens while enriching a few unscrupulous individuals. Then actual reform would be enacted in which those involved in virtually any aspect of the financial, banking and insurance sector would have to submit to mechanisms to exact comprehensive and ruthless surveillance over ALL spoken and electronic communications [at WORK and at HOME to include ALL MOBILE DEVICES] to protect the public from unethical people and practices and protect the country from the clear and present dangers of unchecked large scale financial dealings. Also, all business communications, trades as well as advice and prospect contacting must be recorded in real-time and always accessible to inspectors and State and Federal law enforcement officers.

      Those are just a few ideas other than investigating current Executive and Legislative branch officials and staffers for allegations of Economic Treason committed against the United States of America. After all, there is only one entity that is actually TOO BIG TO FAIL and that is America! If those in positions of power (and/or their staff members) have conspired to and then committed economic treason they should suffer the consequences and the RICO act should be applied to seize all the assets of those convicted.

      Other than that it is another great day in the greatest nation on earth, the United States of America!

    9. Wildcat from Dallast says:

      Response to HF about the deficits 7/25/2010

      Most of us have heard the “smoke and mirrors” concept when it comes to politicians actions especially inside the beltway. The problem we are facing now is that the current crop of “corruptocrats” doesn’t even take the time or make the effort to use this old method of scamming (or conning) the people. They are simply extremely lazy and firmly believe they can get away with saying one thing [that you probably don’t want to hear anyway] which usually means one thing while simultaneously doing something exactly opposite of what they said. Who can forget the alleged healthcare reform debacle and all the antics done by a whole host of corruptocrats to get that monstrosity passed?

      While there did exist a nominal albeit manageable deficit when BHO took over; it grew unnecessary at an alarming rate once he took office. The most significant blunder prior to BHO taking office relative to the budget and unnecessary deficits was the creation and implementation of the Troubled Asset Relief Program (TARP). That too should have never been foisted on the American taxpayers as methods and rules (and laws) to effectively deal with such situations already existed. While some pain would have been felt in one or two major sectors of our economy, we would not have experienced the overall magnitude unnecessarily inflicted on all of us taxpayers!

      There is nothing we can write on The Heritage Foundation’s blog that would have a positive impact on halfwit subpar fiscal and economic policies emanating from BHO’s administration but what we can effectively do is render solid policy ideas that perhaps our conservative candidates can use to develop cogent well thought out genuine changes in policy direction that would help them get elected and eventually put into place. If we were a bonafide banana republic one of the viable answers would be a coup, military or simply by the citizens followed by dramatic changes in direction. Since we are not [yet] that kind of Republic, we should focus on eliminating those few causing so much pain for all of us.

      *Remember, “We cannot make the weak stronger by weakening the strong”, which apparently is the policy by BHO personally and by his administration as they appear to be following the Cloward and Piven Plan from 1966 to bring down the United States from within since it cannot be done militarily from the outside.

      A comprehensive plan, in my assessment, would begin by satisfying the requirements and obligations contained within our Constitution first. Then I would simultaneously reduce the size and scope of the federal government, implement a program of analysis and evaluation to identify by agency and individual where and whom to cut as well as a review of entitlements to either slash entirely or dramatically reduce with an eventual date. I would also dramatically change the concept of the federal income tax as well as establish a deficit reduction and payment plan while changing the current method of borrowing money and designating funds to programs by eliminating the method we know as the pork laden earmarks.

      An example of this includes providing for the common defense and national security. We need to do this as the states and individuals are prohibited or incapable of doing such respectively. I would eliminate the Department of Energy as it was implemented during the Carter administration to get us off of foreign oil thereby making us energy independent. They have failed long enough and are nothing more than a drag on our economy and the federal budget. As far as the Czars and their strap hangers-gone! Entitlement reduction would be those enacted with good intentions by Johnson’s Great Society in which unwed mothers would get money for each child they had. It only promoted promiscuity and the breakdown of the American family. At this time they get $1500 per month per child not including the free healthcare, free school lunches etc. There is an example from about three years ago of some such unwed couple in the vicinity of Atlanta, Georgia where the 23 or 24 year old father was killed in a drug deal gone bad but where the local paper had his obituary written and published as a young 23 or 24 year old entrepreneur died tragically leaving behind his partner and their 9 children! Do the math and you will quickly learn they were getting $13,500 a month not including all the other free services! An investigative reporter later did an article on that situation and had her article published that related he had been charged on more than one occasion with drug related crimes and charged with murder for killing another rival drug pusher but that was then dropped for some inexplicable reason. The change here would be the unwed but of age mother (18 years old +) would be eligible for assistance for the first child only! After all, she should now know what caused that situation (pregnancy) and can take measures to prevent such from happening again thereby not causing the unwanted situation of bringing a baby into the world without the means to provide for basic care. If she gets pregnant before she is 18 years old, she her parents have the financial responsibility to care for the child. The end date for the newly established eligibility would be two or four years from inception with the last such payment 18 years from that date. Along with this would be absolutely ending any entitlements for illegal aliens and the elimination of the concept of “anchor baby”. All birth certificates issued to those who would have been categorized as “anchor babies” would have the additional identifier of “ILLEGAL ALIEN” and maintained as such in all State and Federal Government databases and all biometric measurements taken at time of birth. All illegal immigrants captured would have comprehensive biometric data taken before deportation with the proviso of “NO Second Chance” and “NO Chance of entering a path of legal citizenship” to specifically detail the incarceration if caught here illegally again with penalties up to and including death. They would have chain gang under armed guards to clean up the trash illegal aliens littered our country with as they traversed rugged terrain from Mexico to points north as they lived in tents with minimal yet adequate nutrition and hydration and only limited medical care. After all, Mexico and Iran don’t exactly have pleasant consequences for illegally entering their country illegally. On the federal income tax and deficit reduction and payment plan I would eliminate the federal income tax, implement the Fair Tax (to handle our operating costs) and implement a 5% VAT with 50% of that going to repay the Medicare “IOU’s” put in there by past corruptocrats and the other 50% going to pay off the principal of the debt. If one becomes satisfied then the entire amount goes towards the remaining debt with a 10 year surplus to be added to the strained Medicare, now, “Irrevocable Trust Fund” that elected officials, appointees and others cannot access except to pay for Medicare benefits. You get the idea.

      It may be worth planning and actually doing but I would not have any candidate speak about this next idea until it was enacted. That would be seizing all records of the Federal Reserve, accounting and all other written, recorded and electronic data storage and retrieval systems. Forensic accountants would be turned loose on this treasure trove of financial data as well as a team of investigators tied to a special investigator. The actual debt determined, any suspect deals or possible criminal acts fully investigated and dealt with adroitly. Then the Federal Reserve Bank would be abolished.

      Fannie and Freddie would be fully investigated and allegations of wrong doing pursued along with those who enacted such insane policies of establishing a system where money is knowingly given to people to make the largest purchase in their life without any reasonable ability to pay for the loan. Once analyzed, if the results indicate the optimal solution would be to abolish them, then by all means they too are gone.

      Federal budgets would be developed based upon known requirements with projected costs and within the amount of tax revenue expected to come in, not by borrowing to pay for things corruptocrats want but we neither need nor are they included in requirements of the Federal Government by our Constitution. Earmarks are abolished as they are not budgeted items and are they for things required of the Federal Government by the Constitution. The wasted money for “make work” projects or special interests would now be saved. Our elected officials would be forced to live within their means.

      Term limits would be put to the voting citizens as a referendum. The presidential term limits would remain with a total elected federal service limit of 16 years and a total of elected and appointed federal service excluding Supreme Court Judges of 20 years, both without being able to become lobbyists upon completion of federal service and without transitioning between government service and lobbyist employment and returning to government or vice versa.

      I would also repeal Obama care and the financial reform law immediately and enact simple yet effective genuine healthcare reform including limiting malpractice awards, ability to buy health insurance (and other insurance) across state lines, severely limit the so-called free mandatory services imposed on insurance companies, eliminate the pre-existing clause issue but allow insurance companies to charge a reasonable rated up amount and incentivize personal financial responsibility and accountability for healthcare and nursing facility care to reduce the federal government’s unfunded liability to the most expensive care for citizens (assisted living and skilled nursing facility care). The incentive part would be tax free money spent on health insurance premiums (health/accident/Medicare Supplement & Long Term Care [LTC]) so that the federal government only pays for the first month or two months of nursing facility stay (usually the cheapest time of a long term nursing stay) thereby lessening your personal financial impact both during the period in which you pay premiums and at the time of need when you may not want to take money out of savings (if it is even available) to pay for the first month or two of service. The key to that aspect is you must obtain, maintain and prove that you have LTC insurance with the following benefits and riders: Lifetime benefit period, 30 or 60 day elimination period as determined by law prior to inception of this program, inflation rider, return of premium rider and a daily benefit amount no less than $50 above the most expensive type of care [Dementia or Alzheimer’s Unit] up to no more than $200 above that daily cost at the time of taking out LTC insurance. The federal government greatly reduces it unfunded liability and you get several benefits including maintaining your choice of nursing facilities, non-taxed premium dollars to pay for LTC insurance premiums and you will not be taxed on the amount above and beyond the cost of your care that you can keep. You also have to maintain your Medicare coverage and Medicare Supplement insurance (no tax on either of these premium dollars) in order to get this deal. Keep in mind that once you start collecting benefits on you LTC policy, you don’t pay any more premiums! You would only be paying your Medicare & Medicare Supplement insurance premiums.

      Other health insurance related tax and business reforms would be to mandate businesses that provide group health insurance for their employees to write off the cost of these premiums as a cost of doing business thereby eliminating the financial drag on the employees’ personal financial status. That would provide additional usable money for citizens to spend as they wish. Eliminate the coordination of benefits laws to allow those who go the extra distance by purchasing accident insurance to use that money to pay for such unplanned deductibles (like ER room fee etc.) or keep it as they see fit. The same non-tax policy would extend to vision, dental and dreaded disease policies such as cancer policies. The more personal responsibility you take the greater the freedom and benefits are and consequently your country’s fiscal status improves as well. Two other changes would be returning the Social Security pay as NON-TAXED and non-taxed life insurance premiums. While life insurance premiums for those older citizens is not cheap, the law would grandfather them (so-to-speak) as the intent would be to individually insure the lives of small children (in order to keep your cost as low as possible) to get as much permanent insurance that cannot be revoked later due to changes in your child’s health.

      I might even pose that the State and Federal Government can also obtain a life insurance policy on each citizen when you purchase yours (or your child’s) as a way to enhance the financial state of the country. They (the State and Federal governments) would pay the premium for that insurance with no affect on your policy. They know, like you know, this is not “IF” insurance it is “WHEN” insurance. And while you may purchase as much life insurance (the face value) that you can afford or want, the government may purchase a much larger amount within the limits of the newly established law. For example, you may have purchased a $1,000,000.00 policy but the government may have purchased a $10,000,000.00 policy to partially cover the costs of benefits they expect to pay out over the citizen’s lifetime and to make up the loss from the 55% death tax on estates. Either way, you get to purchase the policy with tax free dollars (to pay the premium) and receive the tax free death benefit and not have to pay the dreaded death tax or estate tax and the government gets to collect some money based upon a financial contract that you do not personally have to pay for. And, if this is started when the child is very young (birth to 2 years old), the cost is at its lowest and the benefit is at its greatest.

      I would have the recently passed financial reform piece of excrement that was signed into law repealed as well as any other former idiotic financial law that protected the criminals who set it up or which did not do what it was supposed to but ended up hurting the American citizens while enriching a few unscrupulous individuals. Then actual reform would be enacted in which those involved in virtually any aspect of the financial, banking and insurance sector would have to submit to mechanisms to exact comprehensive and ruthless surveillance over ALL spoken and electronic communications [at WORK and at HOME to include ALL MOBILE DEVICES] to protect the public from unethical people and practices and protect the country from the clear and present dangers of unchecked large scale financial dealings. Also, all business communications, trades as well as advice and prospect contacting must be recorded in real-time and always accessible to inspectors and State and Federal law enforcement officers.

      Those are just a few ideas other than investigating current Executive and Legislative branch officials and staffers for allegations of Economic Treason committed against the United States of America. After all, there is only one entity that is actually TOO BIG TO FAIL and that is America! If those in positions of power (and/or their staff members) have conspired to commit economic treason then they should suffer the consequences and the RICO act to seize all their assets should be applied upon conviction.

      Other than that it is another great day in the greatest country on earth, the United States of America!

    10. Pingback: 12/7/09: White House Press Briefing | Flag Pole Solar Lights

    11. Vincent N. Franco 99 says:

      The very rich were dropped from 90 % down to 39% maximum by Reagan for the purpose of trickel down money to invest in America.. Where did it go? Trickel down money didn't go to America, Factories were closed. The middle income disappeard, and we are in a financial mess. Who was responsable to monitor this, the Clinton adminisration signed into law. This was the start of the decline in America, and the economists never noticed it happening. The SEC never did its job, the banks and Govt. were giving money to buy homes to people who couldnt qualify by previous fiduciary practise. and the eldery people that saved their money are now gtting less than 1% to live on. This is noticed by people who pay a higher % of thier income in taxes than the top 10 %. God bless AMERICA

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