libertarian
Remy: Raise The Debt Ceiling Rap
We may not be able to address our current debt ceiling woes, but we can at least put them to a good beat.
Visit the links below for more Reason coverage on the debt, deficit and government spending:
Five Facts About the Debt
http://reason.com/archives/2011/07/25/five-facts-about-the-debt
The Facts About the Debt Ceiling
http://reason.com/archives/2011/07/18/the-facts-about-the-debt-ceili
Reason.com Topics: Government Spending
http://reason.com/topics/goverment-spending
“Raise the Debt Ceiling” is the third of a series of collaborations between Remy and Reason.tv. To watch Remy’s other videos, go to http:youtube.com/goremy
Music by Remy. Video shot and produced by Meredith Bragg.
Download the mp3 and HD versions at http://reason.tv, the video channel for Reason magazine and http://reason.com
LYRICS:
Raise da debt ceiling!
Raise da debt ceiling!
Raise da debt ceiling!
Raise da debt ceiling!
14 trillion in debt
but yo we ain’t got no qualms
droppin $100 bills
and million dollar bombs
spending money we don’t have
that’s the name of the game
they call me cumulo nimbus
because you KNOW I make it rain
bail out all kind of cars
got all kind of whips
ladies ask me how I get em
I tell em STIMULUS
Social Security surplus?
Oh, guess what? it’s gone
I got my hands on everything
like Dominique Strauss Kahn
ain’t got no Medicare trust fund
son, that’s just absurd
spending every single penny that
we see, son, have you heard?
ain’t got no moral objections
ain’t got kind of complaints
ain’t got no quantitative
statutory budget restraints
so…
[CHORUS]
Yo, we up in the Fed
and we living in style
Spending lots of money
while we sipping crystal
still making it rain
and yeah it be so pleasing
wait, not making it rain–
we be “Quantitative Easing!”
QE1, QE2
QE4, QE3
Dropping IOU’s
in every fund that I see
printing the cash
inflating the monies
callin up China
“a-yo we straight out of 20′s!”
in the club
we be louding out
while to the market, yeah
we be crowding out
on the beach getting tan
and sipping Corona
we got a monetary plan–
and it involves a lot of toner…
[CHORUS]
So if you look at the chart
and examine the trend
we borrow 40 cents of every
single dollar we spend
and non-discretionary spending
increases every day
do you have a comment for Committee?
I MAKE IT RAIN
Mr. Speaker, Mr. Speaker
would you beam me up?
A Congressperson cutting spending?
Couldn’t dream me up
We’re gonna default
if we follow this road!
I should have thought of this
14 trillion dollars ago!
I’m the king of the links
I’m a menace at tennis
I’m sticking spinnaz on my rims
picking winnaz in business
if you’re looking for some cash
it’s about to get heavy
I got some big ol’ piles of money
and guess what–they shovel ready
[CHORUS]
Duration : 0:2:21
In Defense of Payday Lending
Few industries are more reviled than payday lending, which primarily services the working poor by offering short-term loans at high interest rates. Payday customers borrow an average of $350 for a period of two weeks, or until their next paycheck comes in. The money is handed over on the spot, once the payday store can verify that the customer has a job, earns enough to afford the loan, and hasn’t recently defaulted with another vendor. Payday loans are in high demand: There are 22,000 payday storefronts in the United States and in 2009 they loaned a combined $35 billion.
And yet the industry is fighting for its survival. Montana just voted to make it illegal for the payday-loan industry to operate profitably, so lenders are loading their wagons and wheeling out of “The Land of the Shining Mountains.” They’ve already moved on from Oregon, New Hampshire, North Carolina, Arizona, Georgia, and Washington, D.C, because of similar regulations. The annualized interest on payday loans runs about 400 percent, but the reality is that payday firms see returns closer to 10 percent, or about the same as other less-demonized financial service providers.
Now there’s a danger the federal government will quash the rest of the U.S. payday industry. The Frank-Dodd Financial Reform bill, passed in July, created the Consumer Financial Protection Bureau (CFPB), which posseses the power to regulate paydays at the national level for the first time. The vaguely written law doesn’t allow the CFPB to cap interest rates, but regulators have the latitude to enact other rules that would obliterate profits, such as limiting the number of payday loans a customer can take out over a set period of time.
Payday critics, such as the Center for Financial Responsible Lending (which declined our interview request) argue that payday stores “trap” their customers and practice what “amounts to legal loan sharking.”
Reason.tv’s Nick Gillespie looks at payday loans—why people depend on them, why they’re expensive, and the assumption at the core of every attack on the industry: that the working-poor are too stupid to manage their own money.
The story features payday antagonist Gary Rivlin, the author of the recent book Broke USA; George Mason law professor Todd Zywicki, who has studied paydays; and Greg Fay and Saran Goubeaux of Hometown Cash Finance, a small chain of payday stores in Ohio.
Two studies are citied in this story: the Federal Reserve’s 2007 look at the effect of booting paydays out of George and Virginia, and the 2007 Vanderbilt-Oxford University study that reveals that, contrary to the claims of industry critics, paydays aren’t exceptionally profitable.
For more info, read Katherine Mangu-Ward’s October 2009 feature story on payday lending in Reason Magazine, and her Wall Street Journal review of Rivlin’s Broke USA.
For complete links on this story go to:
http://reason.tv/video/show/payday-loans
Approximately 5 minutes.
Produced by Jim Epstein, with help from Dan Hayes, Josh Swain, and Michael Moynihan.
Go to http://www.reason.tv for HD, iPod, and audio versions of this and all our videos, and subscribe to Reason.tv’s YouTube channel to receive automatic notification when new content is posted.
Duration : 0:5:4
Peter Schiff explains how the new college loan plan will back fire
Peter breaks down the economic inanity of Obama’s new college tuition program passed in March of 2010. Once again the government cure is worse than the disease. Please donate to Peter’s Senate campaign at www.Schiff4Senate.com
Duration : 0:7:21
National Debt/Deficit Road Trip
Eleven Trillion Dollar Drive
By Jason Goldtrap
JasonGoldtrap.com
03.23.09
I will be on the Fox Business Network, Thursday, June 18 at 4pm EST.
Comments with profanity will not be posted
Hi. My name is Jason Goldtrap. I love America. Let’s pretend I have the Trans Am from the movie Smokey and the Bandit, that’d be cool. I want to visit every state capital in the lower 48, from Maine to Washington. I have chosen a route whereby I can drive from one capital to another. I am travelling at a constant rate of 60 miles and hour, no bathroom breaks, no naps, no lunch at Cracker Barrel, no souvenir shopping, I am just driving and driving and driving. The roads are clear, the weather is perfect, let’s roll.
My journey begins in Augusta, Maine. I drive to Montpelier, Vermont then to Concord, New Hampshire down to Boston for some clam chowder back southwest to Providence and across Hartford. I then go up to Albany south to Trenton and Harrisburg then down to Dover. I skip across Chesapeake Bay to Annapolis, see the sights in DC before heading down to Richmond, continuing my journey to Raleigh, Columbia, Tallahassee, and a surprisingly traffic free Atlanta. Next I hit Montgomery and Jackson down to Baton Rouge, up to Little Rock east towards Nashville, Frankfort, Charleston, Columbus and Lansing. I win the Indianapolis 500! Then west to Springfield, up to Madison, I say hello to Garrison Kellior in St. Paul, then down to Des Moines and Jefferson City. In Austin I mess with Texas before heading up to Ooooooooklahoma City where the wind comes sweeping down the plains. Up to Topeka, Lincoln, Pierre and Bismarck and Cheyenne. I catch a Broncos game before I press the pedal to the metal to make it to Santa Fe, Phoenix, Sacramento, Carson City, Salt Lake City north to Helena west to Boise, north to Salem and finally, I arrive in Olympia, Washington where there’s a parade in my honor with Bigfoot serving as the grand marshal. All total I’ve driven 13,105 miles in 218 hours, roughly 9 days.
But wait, there’s more. I feel so good that I put the car in reverse and drive back to Augusta which would make it a 26,210 miles round trip in 436 hours, roughly 18 days. Boy am I tired!
And now I’m gonna get crazy! I’m going to place one dollar bills on the road, line them end to end during my entire journey. Zoom. Ok, its 18 days later and I’m back. I have just placed on the road 276,777,600 dollars! Wow! That’s a lot of money! Or, is it?
I forgot to tell you that my Trans Am is also a time machine, using a misapplied principle of Einstein. The more I drive time itself begins going backwards! The hours pass by swiftly, then the days and months become a blur. The Earth starts spinning around the sun and I am now driving my car in a different millennia!
According to the US National Debt Clock we owe approximately $11,100,000,000,000. On my drives, what would it take to equal that staggering amount? Well, going on round trips from Augusta to Olympia, dropping one dollar bills from my Trans Am and going back in time I will have made a total of 40,104 round trips which comes to about 721,872 days or 1,978 years which would make it about 31 AD when I could have heard in person Christ say “For where your treasure is, there your heart will be also.”
So, how do we fix this mess? Beats me. I’m unemployed right now so I’m not the one to give financial advice. Is there a way to pay off these bills? I hate to say this but probably not. This message is intended for future generations. This is my way of saying “Sorry we gave you such an insurmountable debt and, take my advice, don’t spend what you don’t have.” -The End-
Jason Goldtrap is not a politician, lawyer, activist or anything else. I’m just a regular guy. I am an author from Central Florida. My novels can be viewed online at www.JasonGoldtrap.com. My novel “Teen Girl From Mars” is a optimistic, romantic, funny story about a sixteen-year-old girl living on Mars in the year 2191. My story is clean, values oriented, funny, adventurous and heartwarming. JasonGoldtrap.com for more info.
Duration : 0:2:50
Ron Paul : The US Government’s Debt Can Never Be Repaid!
YES WE CAN! REAL HOPE FOR AMERICA!
http://campaignforliberty.com/
Duration : 0:5:13
True News 9: Screw the National Debt – You Are Not the Nation!
If they can’t show your signature, it is not your debt… http://www.freedomainradio.com
Duration : 0:16:47
KIVA Micro-Loans
Get the latest Penn EVERYDAY: http://crackle.com/c/Penn_Says
I’m not telling you to give money to these guys, but it sure is fun to loan money to wonderful people who need it. Fun fun fun.
When Penn Jillette has an opinion it’s a safe bet he won’t hold back. Upload your own reaction and get the rants rolling! Tune in each week for new insight and agitation.
Follow PennSays on Twitter: http://twitter.com/pennsays
tags: KIVA Micro-loans Penn Says @pennsays atheist politics religion libertarian penn jillette
Duration : 0:3:37
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