I have taught basic principles of economics for thirty years to groups after groups of college students who were often cross-eyed, bored, running late, playing with their phones, angry that I gave them too many notes, “hard tests,” and too many assignments which interfered with their busy social lives. Continue reading
Where do we find money to fund so much out-of-control spending when we are so broke, our national debt ($17.5 trillion) with unfunded liabilities ($128.3 trillion) exceeds $145.8 trillion? Where did the Democrats find almost $4 trillion to fund this year’s budget when Gross Domestic Product is $16.1 trillion and the total national assets are $112.1 trillion for almost 318 million Americans? http://www.usdebtclock.org/
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In a January 24, 2013 breakfast speech, Gen. Raymond T. Odierno warned his audience that “Today, the greatest threat of our national security is fiscal uncertainty.” (www.army.mil/article/95007/Jan242013CSAremarkstoAUSAILWBreakfast/)
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China’s holdings of U.S. property and U.S. securities have increased due to our low savings rate, out of control deficit spending, and progressive laws that allow foreigners to purchase massive assets in our country.
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I have written several articles on the national debt as the biggest threat to our national security. I have given numerous lectures on the subject and every time, during the Q and A time, professionals astonished me with their naiveté. Liberals always post unkind and downright insulting commentaries to my articles, accusing me of being a “tool” of the one-percenters and a paid advocate of the rich. Nothing could be further from the truth.
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“An unlimited power to tax involves, necessarily a power to destroy, because there is a limit beyond which no institution and no property can bear taxation.” – John Marshall
Americans are in denial about the simple fact that our national debt is the biggest threat to our national security. National debt grew exponentially from Washington’s profligate deficit spending, recessions, and wars.
When I looked today at the national debt clock, each taxpayer owed approximately $142,000, the figure changing rapidly based on factors such as the value of the dollar, trade deficits, and the latest sums borrowed from U.S. taxpayers or from whatever country willing to buy our Treasury Securities, T-bills, T-notes, and T-bonds – China, Japan, and oil exporters being the largest buyers of U.S. debt so far.
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“I must confess, when I see anyone with an Obama 2012 bumper sticker, I recognize them as a threat to the gene pool.” Allen West
Yesterday I saw a new bumper sticker in Maryland, “Obama cares.” President Obama and his administration must care a whole lot – they love to spend so much money that we are running up a projected fifth year of $1 trillion deficit spending.
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