Tuesday, February 4, 2014
The Federal Government as Banker, a Government Retirement Program, Can You Say a Disaster in the Making?
According to Politics1, there are nine Republicans running for the open Senate seat in Georgia including three current Congressmen. I was going to sit this primary out and let the voters of Georgia decide their candidate. I am not going to officially give support to any one candidate. That being said, Congressman Paul Broun is the only candidate that routinely sends me e-mails. His website is http://www.paulbroun.com/ From what I can tell, he is a true conservative. I received an e-mail from his campaign yesterday that linked this great campaign ad! I had to share it!
https://www.youtube.com/watch?v=4tO5uuN2viA&list=UUJoW9_yUBzC_Ye5UqOft0ig?rel=0
Donate: https://secure.donationreport.com/donate.html?key=L5AQMC3NDWSU
This is a bonus video on Dr. Broun and the MURDER of unborn babies
https://www.youtube.com/watch?v=YlHkM0bXdUg
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From: http://www.conservativeactionalerts.com/2014/02/myras-washingtons-latest-scam/
“MyRAs—Washington’s latest scam
By Star Parker
February 3, 2014
The president’s annual state of the union address is another example of how dysfunctional our government in Washington has become.
Article 2, section 3 of the US Constitution says that the president ‘shall from time to time give to the Congress Information of the State of the Union….’
The president is the chief executive of our government. As chief executive, it makes sense that he report periodically about the state of affairs to the body responsible for passing laws, the Congress, so they have a sense of what needs to be done.
If handled correctly, the State of the Union should be like the annual report of a corporate chief executive to shareholders. It should convey key information so that stakeholders know what’s going on.
But that’s not what happens. This isn’t about informing stakeholders. It’s about political calculations and pitching a laundry list of proposals, invariably with wonderful benefits, and rarely any perceivable costs, designed to make the President and his party look good.
President Obama introduced in this year’s State of the Union address his proposal to create new retirement accounts for, in the words of the White House, ‘the millions of low and middle-income households earning up to $191,000 (Middle income households earning almost $200,000?—my addition).’ What they are calling ‘MyRAs.’
How could enhancing retirement savings not be a good idea? And, even better, it is a free lunch. Again in the words of the White House, ‘the account balance will never go down in value’ and will be totally secure because it will be ‘backed by the U.S. government (Where in the Constitution does anyone in the federal government have the authority to do this? Secondly, who in their right mind would give the federal government their money to handle for them? The federal government can not responsibly handle the money they confiscate now! Why in the world would anyone voluntarily give them more? By the way, it is the federal government who is stealing from savers by having artificially low interest rates now! And President Obama wants the same savers to give him their money for safe keeping! Run people! Run!—my addition).’
President Obama is creating these accounts with the greatest of ease, without even a new law from Congress, by doing what he has done better than any president in American history. Drive the U.S. government into debt (And by creating his own law as any lawless tyrant would!—my addition).
These wonderful new retirement accounts will receive bonds from the U.S. Government. And who guarantees them?
Please, dear reader, if you are a U.S. taxpayer, look in the mirror and say ‘me.’
If the State of the Union was really about the president informing Congress and the nation, he would have reported the following from the recent 2013 Long-Term Budget Outlook report of the Congressional Budget Office:
‘Federal debt held by the public is now about 73 percent of the economy’s annual output … higher than at any point in U.S. history, except a brief period around World War II, and it is twice the percentage at the end of 2007 (We spend more than we take in and we do it year after year after year!—my addition).’
‘CBO projects,’ the report continues, ‘that federal debt held by the public would reach 100 percent of GDP by 2038 …. even without accounting for the harmful effects that growing debt would have on the economy (Debt is wonderful according to the Democrats! That is why they enjoy continually raising the debt limit!—my addition).’
Meanwhile, as President Obama uses U.S. government bonds to create magical new risk-free retirement savings accounts, there was not a word in the State of the Union of the broken state of affairs of the government’s oldest retirement plan—Social Security (How about Medicare? Medicaid? Obamacare? And all the other misnamed programs?—my addition).
According to Social Security’s latest trustees report, the revenue shortfall, in today’s dollars, of projected requirements of Social Security to meet its long-term obligations is $9.6 trillion. Beginning in 2033, when those now in their late forties start retiring, there will be only funds ‘sufficient to pay 77 percent of scheduled benefits.’
If the president really wants to enhance retirement savings of low and middle income Americans, and create real savings and investment while addressing the fiscal disaster of Social Security, let these folks opt out of the Social Security black hole and use those funds to open a real retirement account (They would probably do better! However, that has been proposed and it did not fly!—my addition).
This is what was done in Chile and it worked. The Chilean economy grew because the new retirement accounts directed investments into the real economy (as opposed to creating more government debt) and Chilean workers have achieved real returns and newly created wealth.
Wouldn’t it be novel if the president really reported on the State of the Union each year and if we solved our existing problems before creating new ones (What fun would that be!—my addition)?”
We elected a President who knows little about economics, even less about the free enterprise system. A President who is a collectivist, a socialist, and an elitist! We got what we voted for and we are paying the price for it!
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This is my two part suggestion to Tea Party groups, social conservatives, Constitutionalists, and anyone else who wants to save our Republic from the approaching destruction.
1) Run as many conservative candidates in as many Republican primaries as possible.
2) Then, run as many independent and/or third party candidates as possible in as many races as possible where we did not win the primary.
That is why I am working to get the Constitution Party on the ballot in Texas. If we get on the ballot, we will have two Congressional House candidates running and two State candidates running. Getting on the ballot is the first step. Winning elections is the second. Winning elections will grow the Party. The Constitution Party is much more in line with the Tea Party movement than is the Republican Party. And I have been involved with all three!
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The Constitution Party of Texas website: http://cptexas.us/home/
If elected to Congress, I will not, under any circumstances, vote for present Speaker of the House John Boehner to be Speaker of the House. I call on every Republican primary candidate running in Texas Congressional District 19 to publicly (in writing) make the same pledge. It would not be a bad idea for every Republican candidate running for the House of Representatives to give the same pledge. See my post at http://christiangunslinger3.blogspot.com on December 16, 2013 entitled “Speaker of the House John Boehner Attacks the Tea Party Again for Being Fiscally Responsible!”
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If I am elected to the House, I will use the Constitution, as written, to do everything in my power to stop judicial tyranny! Will the other candidates pledge the same? I know our present Representative has NOT done everything possible to stop judicial tyranny! Why is that?
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Competition is good for the economy and competition is good for the Republican Party!!! Competition keeps Congressmen committed to we the people!!! Primary Republicans who do not support the Constitution as written.
The Constitution Party of Texas website: http://cptexas.us/home/