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Ron Paul

April 26, 2011

Last week the financial markets were roiled by Standard & Poor’s announcement that they will change their outlook on the fiscal health of the United States over the next two years from “stable” to “negative”. The administration decried this decision as political. However, it seems the only political thing about this decision is the fact that it took so long. The Washington Post recently reported that the White House and the Treasury Department put tremendous pressure on S&P not to do this. However, if S&P made its ratings based on political pressures rather than economic reality, it would cease to have any relevance to the business community. Even if S&P delayed its announcement that U.S. government bond market would be downgraded, at some point it would become obvious that the finances of this country are out of control and our leadership is out of touch. All credibility would be lost if S&P simply continued to assign U.S. debt a AAA rating.

S&P noted in its announcement that negotiations among leaders in Washington to address deficit concerns did not sound promising, and expressed skepticism that politicians could agree to any viable budget compromise. Of course this has been obvious for years but in the midst of the current debate over raising the debt limit it is perhaps the wake-up call that Washington needs. For decades politicians and government officials have been able to maintain their denial about our real financial situation, patching the system together by passing emergency and supplemental funding bills, issuing more debt, and allowing the Federal Reserve and foreign creditors to paper over deficits with more monetary expansion. I’ve said many times the real day of reckoning comes when fiscal and monetary tricks no longer work and there are no buyers for our debt.

Even the most conservative budget that has been proposed by Republican leadership requires raising the debt ceiling by an additional $9 trillion by 2021. This demonstrates absolutely that no one in power right now has any real intention of addressing our spending problems or paying down the debt. They simply expect to continue to borrow and run up more debt forever, without limit. Yet they always imagine our dollar will have value no matter how many we print. This expectation is foolish and naïve. I guarantee that those buying our debt are not foolish and naïve enough to go along with this charade forever.

The S&P announcement may just be the harbinger of economic realities acting as a restraint on government expansion. Government is not anxious to cap its own growth, in spite of misnomers like “debt limit” or “deficit reduction”. Government will continue to grow like a cancer, sapping our country of its wealth and freedom until the laws of economics no longer can be ignored.

Dr. Paul’s article first appeared on his House website.

http://www.infowars.com/waking-up-to-economic-realities/
 

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The real scare is that the markets said... "so what" -and Obama blamed Bush era tax cuts and two wars... while he waged a third.
 

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Hear the new line... same as the old line.
 

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What a quandry! Everyone here, including me, agrees that unbridled spending growth is going to kill us. On the other hand, the cuts that would be needed to actually reverse this trend rather than just slow it down, would probably make all of us to scream to high heavens, because we would be negatively affected. Everyone is a fiscal conservative until his ox gets gored.
 

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What a quandry! Everyone here, including me, agrees that unbridled spending growth is going to kill us. On the other hand, the cuts that would be needed to actually reverse this trend rather than just slow it down, would probably make all of us to scream to high heavens, because we would be negatively affected. Everyone is a fiscal conservative until his ox gets gored.
I traded my ox for a goat :D

We are at the point that the 47% who don't pay taxes, or the professional loop hole user, are going to make this a very explosive process to cut ALL spending and eliminate Goberment intervention unless it pertains to security or safety of our people:lookinup:

And the really sad part is our media will have no problem exposing that the people backing the spending cuts are evil :surprised
 

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What a quandry! Everyone here, including me, agrees that unbridled spending growth is going to kill us. On the other hand, the cuts that would be needed to actually reverse this trend rather than just slow it down, would probably make all of us to scream to high heavens, because we would be negatively affected. Everyone is a fiscal conservative until his ox gets gored.
Some of us understand that the crash that happened a couple of years ago should have been allowed to. Some of us understand that the crash that will take place in the not to distant future, will be far greater in scope and depth then it would have been had it been allowed to happen. What some do not understand... is that every penny of that crash has yet to be paid for... and will be called due in short order.
 

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The only chance we got is to fundamentally change how we generate revenue.

www.fairtax.org.

The only way. Everything else is like puting a finger in a dike. It's not doing what you think it is doing and you are not going to like what you get. Yes. The double entendre is intended.
 

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The only chance we got is to fundamentally change how we generate revenue.

www.fairtax.org.

The only way. Everything else is likeputing a finger in a dike. It's not doing what you think it is doing and you are not going to like what you get. Yes. The double entendre is intended.
I agree with you on the fair tax. But unless most of us pay more thanwe do now, it won't generate enough revenue. Ive said it before - I'm willing to pay more if everyone does. But I'm tired of government picking winners and losers. All they are doing is rewarding contributers and punishing opposition. Our system isn't supposed to work this way.
 

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I agree with you on the fair tax. But unless most of us pay more thanwe do now, it won't generate enough revenue. Ive said it before - I'm willing to pay more if everyone does. But I'm tired of government picking winners and losers. All they are doing is rewarding contributers and punishing opposition. Our system isn't supposed to work this way.
Agreed. There will need to be a sunsetting tax level while we pay things down as well as spending cuts. Wars and foreign aid will need to be cut and replaced with enhanced border controls. But until we get our trade defecit and illegal immigration under control, we're ****ed anyway. It's just a slow bleed.
 

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Hey... look at that ! We agree on something today.
 

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I just got hired by a foreign company working outside the U.S.. It is on the table that I have to decide in the next couple of days what currency do I get paid in US or the other. I really don’t see the government doing anything to control the current debt situation. So I am opting for the foreign currency at this point. I have many factors to consider with the salary being around a quarter million dollars a year:partyon:, I have to look at many angles because fluctuations could mean thousands. Decisions, decisions, lots things to consider.:huh:
 

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Our current government has put us in near last place

As far as production, Economic health , and Foreign policy

So anyway they want a raise :laughing: :laughing:

I mean if we didn't send the wrong team into the game


Our president and the people in congress are complete Baffoons !

They have set this country back Decade's ! :nuts:
 

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Discussion Starter · #15 ·
I just got hired by a foreign company working outside the U.S.. It is on the table that I have to decide in the next couple of days what currency do I get paid in US or the other.
Try to get Swiss Francs.... :thumbsup:
 

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I just got hired by a foreign company working outside the U.S.. It is on the table that I have to decide in the next couple of days what currency do I get paid in US or the other. I really don’t see the government doing anything to control the current debt situation. So I am opting for the foreign currency at this point. I have many factors to consider with the salary being around a quarter million dollars a year:partyon:, I have to look at many angles because fluctuations could mean thousands. Decisions, decisions, lots things to consider.:huh:
Well if you want to be able to keep any of the money you make you may want to consider moving, at least on paper, to the country that tenders the currency you will be paid in.

$250k a year is just what the hand-wringers in Congress, and Obama himself, consider 'wealthy'. You'll be in a much higher tax bracket.
 

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I just got hired by a foreign company working outside the U.S.. It is on the table that I have to decide in the next couple of days what currency do I get paid in US or the other. I really don’t see the government doing anything to control the current debt situation. So I am opting for the foreign currency at this point. I have many factors to consider with the salary being around a quarter million dollars a year:partyon:, I have to look at many angles because fluctuations could mean thousands. Decisions, decisions, lots things to consider.:huh:
Hmmmm. $250k a year? Sorry, Dude. You are in Obama's hated class. You are evil and need to be punished. The rest of us will now walk away and stay as far as possible from you as you are now the enemy. You are filled with greed, and need to be taxed to the hilt to teach you a lesson. At least, that's what the Democrats say. :nuts:
 

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The only chance we got is to fundamentally change how we generate revenue.

www.fairtax.org.

The only way. Everything else is like puting a finger in a dike. It's not doing what you think it is doing and you are not going to like what you get. Yes. The double entendre is intended.
Unfortunatly the fair tax is just another scheme that fools the easily fooled. What magic happens when we change our income tax to a national sales tax??? The only thing that is saved is the need to file a tax return by the people. Instead every single business now has to deal with far more tax issues. (who do you think they will charge for all of this added expense?) The theory in the fair tax plan is that removing the income tax frees businesses to grow unchecked and this will cause a boom in economic activity. Instead it will cause business to have to hire in house tax collectors and reporters. The small mom and pop business will be hit the hardest as the burden of reporting collecting and paying to the government the taxes collected will become a huge part of thier business relative to the size of their business.
The other unforseen problem created by any sales tax, is the black market that always springs up to evade the sales tax. You will suddenly see caravans of cars heading to Canada and Mexico to buy all sorts of items to smuggle back so as to avoid the tax. You will see organized crime boom as they become the sellers of everything untaxed. And all sales on the internet would have to become taxed, thus removing the incentives to do business there.

How we collect taxes is not the problem. Certainly things could be done to make the system more efficient, but there is no fairness to the fair tax. It simply shifts the burden from the american people to american businesses. What has to happen in this country for our deficits to be brought under control, is to change the way our government works. We could have avoided our huge deficits in very simple ways. Like passing laws that restrict us from spending more than we bring in through taxation. But of course that is no fun when you are the party in charge so neither party agrees to this simple and logical way to spend within our means. We could enact a new amendment to the constitution that says that no program could be passed without a conservatively estimated income plan to pay for it throughout it's entire life, and with required reevaluations of these plans and forced adjustments to maintain viability. But of course to accomplish that the people would have to be told the truth about the benifits they expect...and as we all know the people can't handle the truth.

Untill we all....everysingle one of us realizes that we are our government, and what screws the government screws us all, we will push the government over the edge to our mutual destruction. The constant call for less government means nothing if what you actualy mean is less government intrusion in my life but not for that other guy. Lower deficits mean nothing if what you mean is screw the program that I don't benifit from but don't even consider touching the program that I do benefit from.

And nothing can be accomplished if the truths of our problems are hidden by political posturing and political gamesmanship. We need to stop hiding adgendas in fiscal discsusions and deal with fiscal issues alone. Let the social issues stand or fall on their own merits. What we need is to wake up and realize that there is nothing free in life, and what we don't pay for today, our children pay for tommorow.
 

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We always agree on more than we disagree.. it's just that when we disagree, it gets ugly quick.. :laughing:

:cheers:
Who you calling ugly ? :laughing:


;)
 
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