On Monday, October 17th Republican Presidential candidate Ron Paul released his “Plan to Restore America”. The plan outlined some bold objectives for his first term in office if elected including $1 trillion in cuts the first year and a balanced federal budget by year 3. Dr. Paul does this all without raising any taxes. In fact, he lowers and eliminates some! The plan calls in a reduction of corporate tax to 15%, and the elimination of capital gains tax, the “death tax”, and taxes on personal savings accounts, while extending the Bush tax cuts. In order to achieve the massive spending cut, the government workforce will be reduced by 10% through attrition and the Departments of Energy, Commerce, Interior, Education, and Housing and Urban Development would all be eliminated with certain functions moving to remaining departments.  The plan will end the wars and cut all of that funding, while maintaining Defense spending and cutting all foreign aid.  It will cap all Federal Government spending at 2006 levels as well as abolish the TSA and turn those security duties over to the private sector. To foster an environment in which the economy can recover and jobs can be created Dr. Paul […]

The saga of the Great Debt Ceiling Crisis of 2011 came to a disappointing end Tuesday when President Obama signed into law the lousy “compromise” that was sent to him by Congress.  Let us look back on the events that brought us to the pathetic end of the over-hyped debt ceiling “crisis”. The President addressed the nation on Monday July 25, in the hope of frightening the American people into a blind, thoughtless frenzy that would have them pressure their respective members of Congress into a “compromise”.  The days following his speech brought the introduction of several plans by various leaders in Washington DC.  The primary of those being one from House Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) – who incidentally filibustered his own bill for more than 20 hours. In the President’s speech Monday he did his very best to explain the problem to the American people.  He did so by: Demonizing tax cuts as an expense to the government – as if the money belongs to the government, and the government is being inconvenienced in allowing you to have it, as their gift to you.  This money belongs to you!  The government has […]

On Thursday Senator Bernie Sanders (I-VT) posted the results of a Government Accountability Office audit of the Federal Reserve on his Congressional website.  The audit was conducted by order of an amendment that Sen. Sanders had added to the Dodd-Frank Wall Street Reform and Consumer Protection Act which was passed a year ago this week.  The results of the audit should be of little surprise to opponents of the Federal Reserve as they only confirm long-held suspicions of the Fed’s surreptitious dealings. The 266 page report released by the Government Accountability Office identified a number of serious concerns regarding the Fed.  It outlines $16 trillion in secret loans made by the Federal Reserve to domestic and foreign corporations, as well as foreign banks.  To put this into prospective, the current national debt of the United States is around $14.5 trillion.  Sen. Sanders described this by saying: “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else”, an interesting statement, coming from Sen. Sanders, who is a self-proclaimed Socialist. The audit shows quite clearly that there is a serious problem with the way our economy is run in this country.  We must be in a […]