By Doc Vega
Much political banter now boils over the current talk of trying to curtail federal spending enough or produce adequate government generated revenue in order to begin the arduous task of taming the debilitating deficit. If current spending continues, we will surely see a monetary crisis of unprecedented proportions. The writing is on the wall. The looming doomsday of repercussions are clearly there for anyone with a realistic frame of mind to see, yet President Obama and his radical administration are not only unconcerned, but busy playing political ballgames over a nation destroying issue. Is it any wonder that many segments of American society are literally up in arms over the federal government’s stewardship of the economy?
Using politics instead of sound policy
Let me ask you a very simple question. How does the President consider solving economic decline, high unemployment, and a federal deficit that has the federal reserve buying back its own worthless Treasury Notes to the tune of 80 billion a month, with political measures? By political measures, I mean, his incessant class warfare. Increasing taxes on the rich would run the country for an estimated 8 days. This is simply the punishment of the affluent, whose reinvestment, consumption, and ability to employ, stimulates economic growth, however Obama would rather paint the rich as criminally responsible for not doing more while creating envy and hatred among the people against them. This is the classic strategy of Marxists who wage a campaign to overthrow any nation they have their sites set on, and our own President is doing such. Those are the actions of a traitor!
Higher taxes kill jobs Mr. President
Mister President, the US media should be asking, how can we create more jobs when US corporate taxes are the highest in the world and thus, discourage employers from bringing their business back to American tax jurisdiction? Why would Intel want to spend an extra billion in the US every time they open a plant when they can build a new facility somewhere else in the world for much less? President Obama insists that the federal government needs more revenues so, not only has he claimed that taking away all tax deductions from Americans isn’t enough, but that he needs to raise taxes on not only the rich but the dwindling and besieged middle class! We all know what this will mean too. Besides the burden it will place upon Americans who are holding on by the skin of their teeth, it will also give the Obama White House more cash to waste on politically driven spending as the President continues to refuse to adopt a budget. This he will blame on Republicans too for not going along with his spending when we reach the next debt ceiling crisis.
Another world reserve currency looms
While China out buys the rest of the world in tons of gold with their intention of creating a new currency backed by a tangible asset standard, the US and Great Britain have allowed their gold reserves to dwindle. The federal government has sold off at least 60% of its physical gold to other nations in return for them buying our debt thanks to the incredible deficit created by the fiscal irresponsibility of previous White Houses. The storage of massive amounts of gold in Fort Knox is now but a myth. If China succeeds in its plan to align its new currency agenda with the BRIC nations the (Brazil, Russian, India, China) alliance, then they could replace the faulty US dollar as the world’s reserve currency. The resulting increases in interest rates that US banks would have to pay to borrow, the federal government’s rising interest rates from borrowing to meet its own self-generated deficit, and the lost privileges of lower petroleum prices for energy abroad would be devastating to the American consumer. Yet, President Obama wants to continue to play games and push his political agenda for his lack of economic expertise and his ideologically fractured world view.
Token resistance by the GOP not nearly enough
Speaker of the House John Boehner has offered no plausible reforms other than delaying a tax increase vote, making a comment today in addressing the fiscal cliff, that God knows where they will come up with a way of retooling the US tax code. John Boehner has proven again and again when it comes to push and shove he will back down and allow President Obama to increase debt ceilings, increase personal income taxes, and continue to violate the US Constitution with impunity whenever he sees fit.
Had the Republican Party been aggressive and done its job in defending the US Constitution and the American people from the kind of federal tyranny exercised by President Obama and his radical administration, the Presidency would have changed hands a long time ago! Yet, myself, I believe Speaker of the House John Boehner struck a deal with President Obama as did the entire Republican Party when they allowed junior senator, Barack Obama, to be named as the DNC’s candidate for President. The Republican Party further ignored the results of law enforcement investigations that proved Barack Obama was perpetrating fraud over his true identity and country of origin among so many other Constitutional violations he has been allowed to commit. The deal was for the Republicans to put up mere token resistance against the Obama White House while allowing the assault to go unimpeded. By the state of the nation, refusal of either party to take the appropriate actions, I would say that I am quite right.
The Republican Party purges its best assets – conservatives!
The GOP has ignored Mitt Romney’s strategy in cutting federal debt and unnecessary programs. They have fired true conservatives blaming them for pushing the party too far to the right and losing votes doing it, and have practically alienated Sarah Palin the Tea Party thus capitulating to the false narratives of the Democrats. Had Romney been elected the proven economic strategy of President Ronald Reagan, who solved a deep recession and created more than 20 million American jobs, would have been once again implemented. Yet, today’s Republicans have no courage and no stomach for the fight it would take to achieve those time tested and proven goals. The GOP has clearly sabotaged every attempt at curtailing federal spending, putting a halt to tax increases, vetoing President Obama’s incessant executive orders as a form of dictator style governance, and promoting the economic recovery policies it will take to restore America’s prosperity and prestige across the world.
In Part II I will discuss why the US federal government refuses to do the right thing and prolong the economic suffering in America. Why they continue to stall sensible legislation as Americans bitterly prevail in crisis they did not create.