QE3
[It’s Official: Here‘s the Fed’s Major
Announcement (QE3 Is Here!) by Becket Adams] "The Federal Reserve
announced Thursday that it will spend $40 billion a month to buy
mortgage-backed securities for long as necessary to stimulate the
economy and reduce high unemployment.
“If the outlook for the labor market does not improve substantially, the
committee will continue its purchases of agency mortgage-backed
securities, undertake additional asset purchases and employ its other
policy tools as appropriate until such improvement is achieved in a
context of price stability,” the Fed said in a statement released after
the meeting.
You know what this means, right? It means the Fed has just introduced a
third round of unlimited, open-ended quantitative easing..." Full text:
It’s Official: Here‘s the Fed’s Major Announcement (QE3 Is Here!)
Amos 8:5
USA credit rating downgraded-- again
"Prior to 1917, the Senate was a body of unlimited debate, designed to check and limit the growth of government. In 1917 however, the Senate adopted a cloture rule that allowed two-thirds of the Senate to vote to end debate. For the first time, a determined majority could force a vote over the objections of a minority. Since then, the Senate has made it even easier to halt debate. In 1975, the threshhold was changed from two-thirds of the Senate to just three-fifths." Source
"Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009." Source
"Under President Obama's budget, our debt will go from $10.6 trillion on the day he took office to $25.9 trillion in 2022. That's an increase of 260 percent." Source
Response to comment [from a Christian]: ""Without a doubt, we is one messed up country, both socially and economically..."
Obama On Debt: "We Don't Have To Worry About It Short Term"
"As federal spending and deficits have surged, so has each American's average share of the national debt. From slightly over $52,000 this year, debt per person will climb above $76,000 per person in 2022 - unless Washington changes course." Source
"Washington is not talking about real spending cuts, just reducing the rate of growth in spending. Rather than reducing the size of the federal government, Congress is debating how much more government should grow." Source
"Rather than reducing the size of the federal government, Congress is debating how much more government should grow." Source
Response to comment [from other]: "...[A]t some point the actions of the Fed, would have to be seen as deliberate, a concerted effort to destroy the dollar...."
You and your
conspiracy theories (Eph
6:12).
"...[W]hat is the end result? We the U.S. are no longer a trusted currency, and a new monetary system is implemented, maybe even a.... cashless society?"
Too bad you
don't read your bible (Re
13:17).
Response to comment [from other]: "...[A]nd here I thought the reference to cashless society was obvious enough..."
Just the facts, ma'am.
"One challenge that Congress faces is that 64 percent of all federal spending is currently on 'automatic pilot.' Only about 36 percent of all spending is appropriated each year. That percentage is set to decline. By 2022, only about one-quarter of the federal budget will be appropriated annually." Source
"President Obama has said that implementing the 'Buffett Rule' would "stabilize our debt and deficits for the next decade." Looking at the numbers, it's clear that such a rule would do little to reduce our growing deficits - deficits that have exploded during the Obama administration." Source
"From 1993 to
2002 the federal government spent $17 trillion. During the past 10 years the
federal government spent $30 trillion - almost doubling spending from decade to
decade. The House budget proposes spending $40 trillion during the next 10
years. President Obama wants to spend $47 trillion. There are no overall cuts,
just an attempt to reduce the rate of growth in spending so we don’t bankrupt
this nation."
Source
Response to comment [from a Christian]: [Can we last as a nation for another 4
years? I doubt it.] "I doubt it too."
The transformation
continues.
"When the 2010
healthcare law was proposed, President Obama was concerned that it not cost more
than $1 trillion. He also wanted to make sure that the Congressional Budget
Office (CBO) not judge it as adding one dime to the deficit. So they implemented
the law in a way that it would only start spending money in 2014, but not fully
kick in until 2016. So they paid for four to six years of spending, but counted
10 years of revenue, taxes, fees and penalties, and also 10 years of supposed
cuts in Medicare and Medicare Advantage. The cuts in Medicare were to come from
provider payments. The cuts in Medicare Advantage were to come from benefits.
You can’t "bend the cost curve" by increasing taxes on medical device
manufacturers, insurance plans and hospitals. But that’s what President Obama
did. That’s why the cost curve has not been bent down on healthcare.
When they put that plan together, the CBO scored his healthcare law as actually
reducing the deficit, but nothing can be further from the truth. I doubt there
is actually going to be a reduction of deficit for the first 10-year window.
Furthermore, look what happens as you move the budget window forward. From 2013
to 2022, the 10-year cost of Obamacare will be $1.75 trillion - not $1 trillion,
but $1.7 trillion. When it fully kicks in – from 2016 to 2025 – the law will
cost at a minimum $2.4 trillion. That’s somewhere around $250 billion a year at
least. If you just move the taxes, fees and penalties forward to that window,
we’ve got about a $1.9 trillion dollar gap, or a deficit risk. Is President
Obama’s proposal to take that out of Medicare?
It could actually be worse than this, because I don’t believe it will only cost
$2.4 trillion. When the CBO estimated that cost, they anticipated that only 1
million Americans will lose their employer-sponsored care and have to access
coverage through the exchanges. About 170 million people currently get their
healthcare - their insurance - through their employer. Without the healthcare
law most employers that are providing healthcare will continue to do that. They
don’t want to expose the people that work with them to financial ruin.
Under the healthcare law however, the decision totally changes. Businesses will
decide whether to pay $15,000 a year for a family plan, and try and comply with
15,000 pages of law and rules and regulations. That’s what we’re up to right
now, 15,000 pages. The federal government has only begun to write the rules and
regulations around the healthcare law. So businesses will need to pay $15,000 in
cost, plus try to comply with 15,000 pages of regulation. Or does that employer
decide to save money by paying the $2000-$3,000 penalty? And by doing so,
they’re not exposing employees to financial risk; they’re making them eligible
for huge subsidies in the exchanges."
Source
[Is This the Time for a Tax Increase?] "In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times." Source
[Historic Interest Rates] "The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher than they have been during the Obama administration - the cost of adding debt will climb dramatically. Congress will need to cut spending or raise taxes to finance this increased borrowing cost." Source
Response to comment [from other]: "Why don't you just provide the link to Ron Johnson's set of graphics and leave it at that, rather than reposting them day after day here at TOL without saying anything about them?"
Why are you bothered
by my posting the graph?
[Provides link] "Here you go...That ought to save you some time."
Is it time that concerns you?
Eph 5:11,
Eccl 10:2,
Jn 10:10
"Proof please."
Are you concerned with the time it takes you to
read other's posts?
"Ten years ago, the federal government spent $2 trillion. This year we’ll spend $3.8 trillion or $3,800 billion dollars. We have virtually doubled spending in just 10 years. The most recent House budget proposes to spend $4.9 trillion 10 years in the future in 2022. President Obama believes that is not enough; he wants to spend $6 trillion. You don’t have to be a math major to see that in total, nobody is proposing cutting federal spending. Fiscal conservatives are trying to limit the rate of growth in federal government spending." Source
[Are you concerned with the time it takes you to read other's posts?
]
"[A]d hominem."
If you are concerned with the time it takes to
read my posts, why don't you avoid selecting the link that leads to my
last post?
[If you are concerned with the time it takes to read my posts, why don't
you avoid selecting the link that leads to my last post?
]
"[P]roof please."
Is there some reason why you don't want these graphs to be seen by other
members?
Eph 5:11,
Eccl 10:2,
Jn 10:10
[Is there some reason why you don't want these graphs to be seen by other members? Eph 5:11, Eccl 10:2, Jn 10:10] "Proof please. I had posted the link to all of them."
Why? So that I
do not post them individually? Why would not want me to post them individually?
[Why would not want me to post charts
individually?
Eph 5:11,
Eccl 10:2,
Jn 10:10] "[P]roof please."
Silence the Critic.
See:
Tactics of the Left
"The 18.1 percent line represents the amount the
federal government has been able to extract from the economy for the
past 50 years prior to this administration. Regardless of the top
marginal tax rate - as high as 92 percent and as low as 28 percent - we
collect 18.1 percent on average. We’ve only exceeded 20 percent of GDP
four times in that 50-year period. During that same 50 years the federal
government has spent 20.2 percent of the size of our economy. We have
basically locked in a 2.1 percent structural deficit.
Since we hit the housing crisis, we entered a recession. When you hit a
recession, income levels drop and tax collection also declines. Our tax
revenue declined to 15 percent of the size of our economy. President
Obama decided that the solution to the problem was to grow government,
so he proposed an $800 billion dollar stimulus. He also enacted the
healthcare law - a government takeover of 1/6 of our economy - and then
passed the Dodd-Frank financial regulation bill. Those policies grew
government from the 20.2 percent average to 25 percent of our economy in
2009. We are looking at growing government as a percentage of our
economy to 35 percent by 2035. This is simply unsustainable."
Source
"Unemployment began rising after Roosevelt was re-elected." Source
"I posted all of these charts."
You don't explain your reason for
not wanting me to post charts individually (Eph
5:11).
[
You don't explain your reason for
not wanting me to post charts individually (Eph
5:11).
]
"[P]roof please."
Perhaps I'm mistaken. Please provide the post
number where you explain your reason for not wanting me to post these
charts individually.
[Tactics
of the Left
/Perhaps
I'm mistaken. Please provide the post number where you explain your
reason for not wanting me to post these charts individually (Eph
5:11).] "[P]roof please."
...
crickets
"Let the reader decide."
Intensional
Be yourself. Everyone else is taken (Eph
4:14).
