What's Da Buzz?

The fiscal events in the USA just keep on unfolding and getting progressively worse. People at all levels are starting to get really pissed off at irresponsible actions on the part of both the government and the banks. That is for good reason too. The government seems hell bent on making the USA a third world country.

Instead of me making commentary, I will turn you over to those who are far more qualified to give a very clear picture of what is going on. This current situation is because of government interference in the market place like I spelled out on Saturday. So their answer is more government interference that will once again benefit foreign countries at the expense of the USA taxpayer.

Some are trying to push their agenda and turn this country into something it isn’t by nationalizing the banks. That is what Communistic countries have done in the past. That isn’t the USA I read about. That is from the Democrat camp. Here is the Republican side with Mitt Romney. By far, this link summarizes the issues the best of any I have read.

If you care though, you seriously need to view all four of the You Tube footage included in this link covering Exposed: America’s Broke. Here are some basics on it. No matter what any politician says about taxing the rich, tax breaks, or whatever, it will not pay off the bills. Since the days of the current tax code, the amount of revenue holds in a flat amount of 18-19% of the economy. Spending has gone through the roof courtesy of the Social Security, Medicare, and Medicaid entitlement programs which I have written a bit on. What is really bad is they are not keeping it on the same set of accounting books!! Instead of one set of books like any household or business must do, the Federal government uses four different sets so they can avoid reporting on the true financial condition of the USA. In other words, they are lying to us all.

Want to raise the taxes on the rich? There will be no net difference. Want to raise the taxes on the businesses? You will see the housing and banking issues get worse. Why? The businesses are not going to take it on the chin in their profits. They have shareholders to report to. They will either reduce wages, cut jobs, increase prices or a combination of them. All of which are passed directly on to the consumers who are having a tough time keeping their personal financial lives balanced.

The only options are to reduce spending and seriously cut back on the entitlement programs. But the Congress, Federal Reserve, President and Secretary of the Treasury are opting to spend mountains more and give the bill to the taxpayer. I will take a break here and turn this over to the head accountant over all of the federal government: (Mga Pinoy US Citizen-please watch the video. Salamat po!)

Thank you,

Anah