Posts Tagged ‘Obama’
Obama; Spending us into Oblivion. Why? – How do we pay off this Debt? – Glenn Beck Explains
We have currency and credit derivatives of over 644 trillion dollars? What are these? What does it mean? I have no idea. We have interest on our debt of over 604 billion dollars a year as of now, but it is expected to be at least 1 trillion dollars a year by 2018. Medicare fraud just this year alone is over 38 billion dollars. Our budget deficit this year to date is over 1.2 trillion dollars. Our total unfunded liability per person is $191,832, and that is for every man woman and child. I’m not sure if that includes illegal aliens or not, all I know is that I haven’t got it, and neither does our government.
The democrats and republicans have dug us into a hole that we will never escape from. If you get to ask your representative something at a town hall meeting, then ask them this. Ask them under what scenario do we pay this debt off? Ask them just how will this magically happen. Will they somehow obtain the political courage to do something that they have for all of these years not have the courage to do?
Have them explain to you just what their plan is. You might want to tell them that using IRS data from the year 2006, if they were to collect 100% of all the income from every individual earning over $500,000 a year, then that would only amount to 1.3 trillion dollars. There is not enough money out there to pay for all of this stuff unless they massively tax us regular folks to death.
Which I believe is their plan, to tax us all to death. Well maybe not to death, but until they control everything that we do. And if they do that, then in my opinion, you will be better of dead. Like they say, better dead than red.
So by now you are probably wondering how do we fix this problem. What is the solution? I would say that this spending problem will never be solved until the politicians fear being thrown out of office for bringing home the bacon. So what I am saying is that it is up to us. Next time your representative brags on his newsletter about how he got money for this local project, or for that local project, send them a letter saying that we are broke, that we have no money, that we are hocking our grandchildren up to their eye balls and that you are not going to put up with it any longer. Tell them that you are going to vote against them, and that the reason is that they are bringing home the bacon, the bacon that we don’t have, the bacon that we are borrowing from China.
Until this happens, until we the people change, there will be no change, and we will just keep sinking further and further into debt until the entire system fails. What this failure will look like, and how exactly it will affect us, I have no idea, but I believe that within our lifetime we will find out. Things are happening fast.
jbranstetter04
Duration : 0:5:24
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The Christmas Crunch by Antan Debt
Ok so times are hard, maybe Antans next song might help cheer you up this Christmas!
Duration : 0:4:12
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Skeptical Sherman: TARP $$ Paid Back Is NOT Geithner’s Revolving Fund Should PAYOFF National Debt!!
May 11, 2009
Brad Sherman (D-CA)
Skeptical Sherman on House Floor
Duration : 0:5:29
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Use Your Stimulus Package to Jump Start The Economy Create Jobs Buy From China Get USA out of Debt
Click more info http://www.NelsonIdeas.com http://www.PartyTentCity.com Stimulus Thoughts by Bob Click http://www.youtube.com:80/watch?v=7k5CV4OVAIk I would suggest you use your Stimulus Package to Jump Start The Economy and Create more manufacturing jobs. Just spend your check at Wal-Mart where you can get most everything made in China. By spending your stimulus package you will keep the economy in the USA growing. It will help get the get the USA out of trillions of dollars of debt. It will keep the USA from going into a Depression with the rest of the world. Have you seen the movie I.O.U.S.A. It is a real mind opener.
I am really getting excited about getting my stimulus package.
I will take my USA check down to Wal-Mart.
I will buy as many things as possible, even if they are all made in China.
This will create manufacturing jobs for the people who make the products
I buy.
This will help jump start the USA economy.
It will help cut our national debt.
I want to help to get the USA economy going and create more jobs.
What are you going to do with your stimulus package?
Comment below.
Brian Nelson, Houston, Texas 713-467-3025.
Economic Stimulus Act of 2008 and Section 179
In order to address concerns regarding a slowing economy, President Bush asked Congress to come up with an Economic Stimulus Plan that will benefit both consumers and businesses, and Congress responded with a comprehensive economic stimulus package.
On February 13, 2008, President Bush signed H.R. 5140, otherwise known as the Economic Stimulus Act of 2008. The Economic Stimulus Act immediately grabbed headlines because most Americans would receive a check for $600 from Uncle Sam. While the Economic Stimulus Act is a boon for consumers, there are significant benefits in the Economic Stimulus Act for businesses as well.
In fact, Small Business stands to benefit a great deal from the Economic Stimulus Act of 2008. This is because the Section 179 Deduction limits have been generously increased, and small businesses across the country will reap the rewards.
How your business will benefit from the Economic Stimulus Act of 2008
The Section 179 Deduction has been significantly enhanced by the Economic Stimulus Act of 2008, and has given businesses an incentive to invest in themselves by purchasing or leasing new equipment.
The specific impact the Economic Stimulus Act has had on the Section 179 deduction is related to the dollar limits of the deduction. The previous dollar limits were a $125,000 limit on the deduction and the total amount of equipment purchased could not exceed $500,000. The Economic Stimulus Act raise these limits significantly. The new deduction limits are $250,000 on the deduction, and the total amount of equipment purchased cannot exceed $800,000.
To recap the new limits:
2007 Deduction Limit: $125,000
2008 Deduction Limit: $250,000
2007 Total Amount of Equipment: $500,000
(deduction decreases dollar for dollar after reached)
2008 Total Amount of Equipment: $800,000
(deduction decreases dollar for dollar after reached)
Bonus Deduction
Another change that the Economic Stimulus Act of 2008 brings to Section 179 is it offers a one-time bonus first year depreciation of 50% on qualifying equipment. This is after the above deduction limit is reached.
In other words, if you buy enough equipment to exceed the $250,000 deduction, you can take a bonus 50% depreciation on the rest this is in addition to normal depreciation
Everyone Benefits
Most small and medium-size businesses will find these new dollar limits generous indeed. The Economic Stimulus Act is going to help consumers, and it will also significantly help most small businesses as well by lowering the cost of equipment that they need to purchase or lease to run their day-to-day operations. The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries. It was the largest and most important economic Depression in modern history, and is used in the 21st century as an example of how far the world’s economy can fall[] The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929, known as Black Thursday. The end of the depression in the U.S is ociated with the onset of the war economy of World War II, beginning around 1939.
The depression had devastating effects in virtually every country, rich or poor. International trade plunged by half to two-thirds, as did personal incomes, tax revenues, prices, and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent.
Duration : 0:2:14
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Though Hillary Rodham Clinton racked up more than $30 million in debt during her Democratic primary campaign, she could emerge from her loss with a bundle of campaign cash to either play kingmaker or mount another campaign of her own.
At her disposal are a handful of accounting maneuvers — some never before tried in presidential politics — that would render her political debt practically insignificant, while at the same time freeing up $24 million in currently off-limits cash, according to interviews with her lawyer and outside campaign finance experts.
Enhancing her flexibility is that all but $1 million of her $9.5 million in unpaid bills at the end of April was owed to allies and political firms unlikely to cause her legal or political headaches by demanding prompt payment.
In fact, their umed — but unspoken — cooperation is a key part of the New York senator’s most likely path to robust campaign finances.
That financial path would go something like this: Reclassify as a contribution most of the $11.4 million or more she loaned her campaign, which would be a personal financial hit because she wouldn’t be able to recoup much of it. Ask her donors to redirect $23.7 million they gave for her presidential general election campaign to her Senate campaign committee.
Meanwhile, try to raise some fast cash — possibly with istance from her vanquisher, presumptive Democratic nominee Barack Obama — to pay off vendors who might sue her presidential campaign, leaving “friendly” debt to be paid down gradually as she raises money from her Senate perch.
A riskier route would be to ask her general election donors to redirect — or “redesignate,” in campaign finance parlance — their general election contributions to Obama’s presidential campaign as part of a deal under which the Illinois senator would ask his donors to give to Clinton to help her pay down her debt.
The most aggressive approach would be to redesignate the general election contributions to her Senate committee, transfer her debt to the same account, and then use the general election contributions to pay off the debt.
There’s a budding debate in the campaign finance bar about the legality of such of a maneuver. Some contend it would amount to illegally “laundering” general election contributions to pay off primary election bills. But others ert a 30-year-old Federal Election Commission decision regarding “surplus” campaign cash allows flexibility in the brave new world of privately financed presidential campaigns.
http://www.politico.com/news/stories/0608/11020.html
Duration : 0:5:23
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