In America today, millions upon millions of senior citizens are very deep in debt. In fact, more elderly Americans than ever before are going bankrupt. Millions of others are living in extreme poverty or are just barely getting by on meager fixed incomes. Meanwhile, the price of food is going up, the price of gasoline is going up, the cost of heating homes is going up and health insurance premiums are absolutely soaring. Millions of our senior citizens suddenly find themselves financially squeezed more than they ever have been in their entire lives. Unfortunately, at the same time all of this is happening, our government officials are realizing that they simply don’t have the money to keep the financial promises that they have been making to our retirees. Sadly, what this all means is that for millions of our senior citizens, the only future they have to look forward to is one filled with debt, poverty and financial pain. (Read More...)
Finance
Unfortunately, Obamacare Is Not Going To Be Repealed In 2010, It Is Not Going To Be Repealed In 2011 And There Is A Good Chance That It May Never Be Repealed
Right now the mainstream media is paying a lot of attention to the effort by Republicans in the House of Representatives to repeal the health care reform law that Barack Obama and the Democrats crammed down the throats of the American people during the last session of Congress. House Republicans are calling their legislation the “Repealing the Job-Killing Health Care Law Act”, and the House of Representatives is expected to pass the legislation on January 12th. However, there are two huge problems. One is that Democrats control the U.S. Senate and they have declared that there is not a chance in the world that a repeal of the health care reform law will get through them. Secondly, even if a repeal of the health care law did somehow magically get to Barack Obama’s desk, he has sworn that he would veto it. So unfortunately, Obamacare is not going to be repealed any time soon. (Read More...)
The American Dream: You Have GOT To See This Short Documentary About The Federal Reserve
Have you ever wondered how in the world you can explain complicated topics such as the Federal Reserve, fractional reserve banking and the creation of money in a way that your family and friends will actually understand? Well, the other day I was made aware of an amazing new 30 minute animated documentary entitled The American Dream. Considering the fact that this column is called “The American Dream”, that definitely got my attention, and when I sat down and watched the documentary I was absolutely amazed. What Tad Lumpkin and Harold Uhl have done is that they have created a very funny, very entertaining 30 minute cartoon that does an excellent job of explaining how our financial system really works and why the Federal Reserve is bad for America. (Read More...)
The Debt Ceiling Debate Really Doesn’t Matter – Either Way U.S. Government Finances Are Going To Crash
Congratulations America, you are now 14 trillion dollars in debt. The U.S. national debt is now more than 14 times larger than it was just 30 short years ago. The federal government is literally drowning in debt. Now some members of Congress are actually debating whether we should raise the debt ceiling again. At the moment, the U.S. government debt ceiling is is set at $14.294 trillion, and considering the fact that the U.S. government is borrowing approximately 2.63 million more dollars every single minute, that cap will be reached very quickly. The U.S. Congress has raised the federal debt ceiling six times in just the past three years, so you would think that raising it again would not be that big of a deal for our debt-addicted politicians. But this past November a significant number of Tea Party candidates were elected to the U.S. House of Representatives, and they are eager to prove that they are serious about fiscal responsibility. (Read More...)
Is The New Madrid Fault Earthquake Zone Coming To Life?
What in the world is happening in the middle of the United States right now? Thousands of birds are falling dead from the skies, tens of thousands of fish are washing up on shore dead, earthquakes are popping up in weird and unexpected places and people are starting to get really freaked out about all of this. Well, one theory is that the New Madrid fault zone is coming to life. The New Madrid fault zone is six times bigger than the San Andreas fault zone in California and it covers portions of Illinois, Indiana, Missouri, Arkansas, Kentucky, Tennessee and Mississippi. The biggest earthquakes in the history of the United States were caused by the New Madrid fault. Now there are fears that the New Madrid fault zone could be coming to life again, and if a “killer earthquake” does strike it could change all of our lives forever. (Read More...)
Will The Obama Tax Cut Deal Save The Economy? NO!!
All over Washington D.C., top Republicans and Obama administration officials are running around declaring that the tax cut deal that was just passed will save the U.S. economy. But is this even partially true? Of course not! Mostly, what the “tax cut deal” does is keep tax rates exactly where they already are. Now, many of us are extremely thankful that we will not be paying higher taxes, but the truth is that if these tax cuts were going to “save the economy” they would already be saving it. Yes, this tax cut deal will provide a minor short-term stimulus to the economy, but it will also add $858 billion (some say closer to $1 trillion) to the projected federal budget deficits over the next two years. You see, this tax cut deal contained “all candy and no spinach”. In other words, the tax cuts were not accompanied by corresponding spending cuts, and that is going to lead to big trouble in the long run. (Read More...)