For too long in this country we’ve had the give-me-stuff people standing there with their hand out, and the government putting something in it. Does the idea of small government ring a bell? It is what our founding Fathers had in mind when they gave us our constitution. That is why there is a list in the constitution that quite clearly spells out the powers of the federal government, and also what it is not allowed to do. So basically if it was not listed as a power, then they are to stay away from it, and allow the States to handle it.

Just take a look at federal laws. At the very beginning they will state their authority in enacting the law, and it is almost always the commerce clause. I’m sure they even think that just because your computer is hooked up to the internet, and therefore has contact with other computers in other States, that they then would have the constitutional right of regulating your computer, and thereby your internet communications; they are out of control.
jbranstetter04

Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.
The difference between the $455 billion “official” budget deficit numbers and the $5.1 trillion budget deficit cited by “2008 Financial Report of the United States Government” is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.
But the numbers in the 2008 report are calculated on a GAAP basis (“Generally Accepted Accounting
Practices”) that include year-for-year changes in the net present value of unfunded liabilities in social insurance programs such as Social Security and Medicare.
Under cash accounting, the government makes no provision for future Social Security and Medicare benefits in the year in which those benefits accrue.
“As bad as 2008 was, the $455 billion budget deficit on a cash basis and the $5.1 trillion federal budget deficit on a GAAP accounting basis does not reflect any significant money [from] the financial bailout or Troubled Asset Relief Program, or TARP, which was approved after the close of the fiscal year,” economist John Williams, who publishes the Internet website Shadow Government Statistics, told WND.
“The Congressional Budget Office estimated the fiscal year 2009 budget deficit as being $1.2 trillion on a cash basis and that was before taking into consideration the full costs of the war in Iraq and Afghanistan, before the cost of the Obama nearly $800 billion economic stimulus plan, or the cost of the second $350 billion in TARP funds, as well as all current bailouts being contemplated by the U.S. Treasury and Federal Reserve,” he said.
“The federal government’s deficit is hemorrhaging at a pace which threatens the viability of the financial system,” Williams added. “The popularly reported 2009 [deficit] will clearly exceed $2 trillion on a cash basis and that full amount has to be funded by Treasury borrowing.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851

Duration : 0:1:41

Technorati Tags: Budget, collapse, Debt, deficit, depression, exceed, Future, GDP, hyperinflation, monetary, obligations, Policy, recession, shorfall, states, Taxes, Trillion, united, World

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Duration : 0:5:30

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One year ago, President Obama signed the economic recovery bill aimed at pulling the country out of recession. The bill promised jobs — including many in the nuclear energy industry.

In February, the president announced plans for the government to guarantee more than eight billion dollars in loans for two new nuclear energy centers in the state of Georgia. The Southern Company plans to build the nuclear power centers. The first would start operations in twenty sixteen.

Mister Obama announced the plan at a job training center in Lanham, Maryland. The message was that nuclear energy projects will create jobs. President Obama said: It is a plant that will create thousands of construction jobs in the next few years, and some eight hundred permanent jobs — well paying permanent jobs — in the years to come.

In February, the Federal Reserve predicted that unemployment will remain near current levels through the year. The present rate is nine point seven percent. The central bank said unemployment could remain high for the next two years.

President Obama has received sharp criticism from Republicans over the lack of progress in job creation.

The seven hundred eighty-seven billion dollar American Recovery and Reinvestment Act is also unpopular because of its cost. Critics said the money is being spent too slowly with less than sixty percent being spent so far. But the administration said the measure has saved or created two million jobs.

By supporting nuclear energy, the president may be seeking common ground with Republicans who have called for building as many as one hundred new nuclear power centers.

Mister Obama has linked clean energy with economic growth. He also warned that the United States is falling behind in developing nuclear energy. He said: There are fifty-six nuclear reactors under construction in the world: twenty-one in China alone; six in South Korea and five in India.
The United States has not built a new nuclear power plant in nearly thirty years. American public opinion about nuclear energy has been mixed. In recent years, public opinion studies show more than half of Americans approve of nuclear energy. About one-fifth of the nations electricity is generated by nuclear power.

And that’s the VOA Special English Economics Report.

(Adapted from a radio program broadcast 19Feb2010)

Duration : 0:3:54

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http://www.beyondtoday.tv/programs/archive/?Title=The-Debt-Trap-&ProgramID=bt028

Duration : 0:28:30

Technorati Tags: advisor, america, balance, bankrupt, bible, bills, cards, credit, Debt, economics, economy, finances, financial, God, habits, home, Money, mortgage, pay, savings, spending, states, united

Duration : 0:7:2

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Why do Japan and China keep on buying dollars?

The dollar has fallen about twenty percent against the Euro in the last year but China and Japan continue to accumulate large dollar surpluses. At the same time, many economists worry that they will dump their holdings, sending the dollar into a free fall.
Michael Dooley, Peter Garber, and David Folkerts-Landau suggest that this financial policy is no accident. They view the Chinese and Japanese as pursuing deliberate full employment policies. They buy and hold dollars, not as an investment, but rather to subsidize their own exports. Read this summary of the argument, or buy an NBER working paper here. Garber puts the point bluntly:

http://www.marginalrevolution.com/marginalrevolution/2004/01/why_do_japan_an.html

China is right to have doubts about who will buy all America’s debt

Chinese doubts about the value of US Treasury bonds highlight a crucial question: who will buy the estimated $2.7 trillion (£1.9 trillion) to $4.2 trillion of debt expected to be issued over the next two years?

With annual foreign purchases accounting for less than a tenth of the low end of that range, and domestic investors unable to bridge the gap, the Chinese are right to worry.
Yu Yongding, former adviser to the Peoples Bank of China, recently demanded guarantees for the value of Chinas $682bn of Treasury securities. Then Luo Ping, director of the China Banking Regulatory Commission, said that China had misgivings about the US economy, but despite this it would continue to buy Treasuries. The two statements appear designed to raise the issue non-confrontationally before new chief US diplomat Hillary Clintons visit to Beijing on February 20.
China worries about the dollars value against other currencies, particularly the yuan. With US interest rates so low, the dollars value may slide. However, President Barack Obama has repeatedly said he wants a strong dollar, and indeed its trade-weighted value rose 13.9pc between April and December 2008.
The other area of concern for China is the value of its Treasuries. Given the US borrowing requirement and its lax monetary policy, Treasury bond yields could well rise sharply, causing a corresponding price decline. If Chinas holdings match Treasuries average 48-month duration, then a 5pc rise in yields, from 1.72pc on the 5-year note to 6.72pc, would lose China 17.5pc of its holdings value, or $119bn.
Foreign buyers have absorbed a little over $200bn of Treasuries annually, a useful contribution to financing the $459bn 2008 deficit, but only a modest help towards the $1.35 trillion minimum average deficit forecast for 2009 and 2010.
Unless that changes substantially, there will be $1trillion annually to be raised by the Treasury from domestic sources, more than double the previous record from domestic and foreign sources together, plus whatever is needed to bail out the banks.
Even if the US savings rate were to rise from zero to its long-term average of 8pc of disposable personal income, that would create only an additional $830bn of savings — not enough to fund the domestic share of the deficit. Interest rates would probably have to rise substantially to pull in more foreign investors.
Yu is right to worry.
http://www.telegraph.co.uk/finance/breakingviewscom/4611408/China-is-right-to-have-doubts-about-who-will-buy-all-Americas-debt.html

Duration : 0:3:37

Technorati Tags: buy, China, confidence, congress, crisis, Debt, deficit, dollar, doubt, faith, finance, fiscal, holding, interest, monetary, Policy, rates, states, treasuries, treasury, trust, U.S., united, value

Lyrics:
You gotta help me out
Its all a blur last night
We need a taxi cause youre hung-over and Im broke
I lost my fake id but you lost the motel key
Spare me your freakin dirty looks
Now dont play me
You want to cash out and get the out of town

CHORUS:
Dont be a baby
Remember what you told me
Shut up and put your money where your mouth is
Thats what you get for waking up in Vegas
Get up and shake the glitter off your clothes, now
Thats what you get for waking up in Vegas

Why are these lights so bright
Oh, did we get hitched last night, dressed up like Elvis,
And why, why am I wearing your class ring?
Dont call your mother
Cause now were partners in crime

CHORUS:
Dont be a baby
Remember what you told me
Shut up and put your money where your mouth is
Thats what you get for waking up in Vegas
Get up and shake the glitter off your clothes, now
Thats what you get for waking up in Vegas

You got me into this
Information overload, situation lost control
Send out an S.O.S.
And get some cash out
Were gonna tear up the town
Katy Perry – Waking Up In Vegas

Dont be a baby
Remember what you told me (x3)
Told me, you told me, you told me
Shut up and put your money where your mouth is
Thats what you get for waking up in Vegas
Get up and shake the glitter off your clothes, now
Thats what you get for waking up in Vegas
Shake the glitter, shake, shake, shake the glitter, cmon!
Give me some cash out baby
Give me some cash out, honey

Duration : 0:3:20

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