Saturday, December 25, 2010

The Day Of Reckoning Is Coming

The United States is currently $14 Trillion in debt. Aside from printing money to monetize the debt, which the Federal Reserve will likely to do to disastrous effect, at some point, the markets will say no more borrowing. When the happens, it will be the day of reckoning. Federal elected officials will finally have to deal with the Trillion dollars plus they are borrowing each year to balance the budget. Of course, the Socialists will demand that all taxes on the "rich", defined as those earning $250,000 or more be raised, which will only retard the growth of the economy and lead to even more unemployment.

WE THE PEOPLE and presumably Republicans in Congress must stand up and say HELL NO to various Socialist Schemes that are bankrupting our country. The Bush Tax cuts must be made permanent. Though the 35% federal top rate is still too high, it would be tolerable if Corporate Income tax rates were cut to 20 or 25% in an attempt to keep more jobs in the United States. Tax on Capital Gains and Dividends should not exceed the current 15%. Estate Taxes at 35% after $5 million is OK; but probably still a bit high since these monies have already been taxed when they were earned. In any case, raising taxes is not an option to deal with the massive deficit spending that is occurring. The United States does not tax too little, our country spends too much.

That means that elected officials will have to prioritize just like people do when managing their own budgets. The only things that should be sacred are national defense and insuring that our food supply is safe. After these two budget items, everything else should be on the table. Numerous federal departments and agencies, like the Department of Education, should be eliminated entirely. All bail outs to the states or cities, many of which face bankruptcy, must stop forcing them to make the cuts necessary to live within their means. Subsidises for money losers like ethanol must be ended. We must depend on the free market to determine winners and losers not government.

None of this will happen as long as Socialists are in power, which is a big reason we must sweep them out of office in 2012 and 2014 by electing Conservatives that support free market capitalism, limited government, lower taxes and less regulation, a balanced budget, term limits, real education, energy and health care reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values that are the foundation of our nation. This is the platform supported by the majority of the American people and the only way to prevent the bankruptcy of the United States and to restore economic growth in job creation in our nation.

Most important, we must elect Conservatives who will adhere to the Constitution, as written by our Founding Fathers, not as contrived by the left wing media, Socialists in the last 97 years, former Presidents, Congresses, or the Courts. We must take back our country in 2012 and 2014 to implement sound fiscal management. We can do it. We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.

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