OBAMA 'S REQUEST- "I NEED ANOTHER $1.2 TRILLION IN FUNNY MONEY"

OBAMA’S REQUEST, “I NEED ANOTHER $1.2 TRILLION IN FUNNY MONEY” And funny money it is – being printed on the constantly running Federal Reserve printing press, and whatever isn’t printed is borrowed from China through the sale of worthless U. S. Treasury Bonds.

When Obama drags himself off the golf course and returns from his $4 million vacation, he will be asking Congress to increase the government’s debt limit by $1.2 trillion – again. This increase is the third step that was part of a deal approved back in August. The debt ceiling was increased $400 billion in August and $500 billion in September, and now $1.2 trillion will be asked for.

Now you would think there’d be a big fight in Congress over approving this increase. You’d think the Conservative Republicans would say hell, no, but you’d be oh, so wrong. The bill that was passed in August stated that Congress can only vote to block the debt ceiling increase with a “disapproval resolution.” This means after Obama requests the increase, lawmakers have only 15 days to vote it down. If Obama asks for the increase on January 1, Congress will have until January 14 to say “no.” But Congress will not be in session on January 14. They are in recess past that date. Oh, didn’t Obama plan this to perfection? Raise the debt ceiling now before Congress gets back to stop it. Isn’t he the clever one.

Once the debt ceiling is raised, the total amount Obama will be allowed to spend is $16.4 trillion. Want to know how bad this is? In eight years of the Bush administration our debt increased by $4 trillion. In the first 3 years of the Obama administration Obama has increased our debt $6 trillion.

So Congress can’t stop this madness. I’m not sure Boehner would have the guts to do it even if Congress were in session then. He’d probably flop, whine, whimper and waffle, and after a couple of weeks of press conferences he’d cave in.

Remember something, Folks. In over 1,000 days there has been no budget from Obama. He’s running the richest country on earth without a plan, a budget. No wonder he has to keep asking for more and more and more money. 

How do we know how much he is spending? We don’t. How do we know where he’s spending it? We don’t – except when the government backed Solyndras of the world go bust. We don’t know because there is no budget. He’s the sorriest excuse of a leader to ever occupy the White House. Vacation and golf are more important than creating a budget, decreasing our debt, and getting our financial house in order.
Want to know what Obama himself thought about raising the debt ceiling when Bush was in office? See it here. And remember this when you vote in 2012. Four more years of record spending, no cuts, no planned budget, raising the debt limit and passing Continuing Resolutions to run the country are the tools by which we will become Greece sooner rather than later. We are teetering on the precipice right now.

DICKIE DURBIN'S DAFFY SENATE TIRADE

Bank of America, they are coming to get ‘ya. Dickie Durbin (D-Ill), 2nd ranking Democrat in the Senate, is after your hide. He’s aiming for you. He can send the power of the entire federal government down on your head, so watch out. He’s telling your customers to leave: “Bank of America customers, vote with your feet, get the heck out of that bank. Find yourself a bank or credit union that won’t gouge you for $5 a month and still will give you a debit card that you can use every single day. What Bank of America has done is an outrage.” Yeah, that’s right, those are Durbin’s exact words.

Dickie’s tirade has to do with BOA’s new fee of $5 per month to users of BOA’s debit cards. He’s upset at the audacity of BOA charging for debit card services, so on the floor of the U. S. Senate he takes BOA to task and tells people to get the heck out of BOA.

The real truth is that BOA’s new debit card fee is a direct result of the Dodd Frank Bill, a behemoth regulation that is partly responsible for no jobs being created by the Jobs President. The Durbin Amendment to Dodd Frank floated around for almost a year before it was finally adopted when Durbin pushed the issue. The Durbin Amendment gives the Federal Reserve the power to regulate debit card swipe fees. Oh, sounds so warm and fuzzy, doesn’t it? Gonna save the consumer from the horrible big banks, let’s get right to it. And so they did.

For the readers who don’t know what a “swipe fee” is, I will explain. Every time a consumer uses a debit card, any debit card, by the way, the business is charged a “swipe fee” by the bank issuing the debit card. This fee averages 44 cents per transaction. But Durbin and the Federal Reserve have taken the position that the 44 cent swipe fee is highway robbery, it’s bank chicanery, bank gouging. They have mandated that the most banks can now charge is 24 cents per swipe. Oh, this all sounds good for the consumer, wouldn’t you think?

But wait, The Fed released their final rule on the matter and determined that the combination of reduced fees, restrictions and caps is going to cost banks nearly $14 billion annually. Do the Fed and Dickie Durbin think the banks will just lose $14 billion annually without making it up somewhere? Could they be that stupid? I guess so because they are now regulating the swipe fee. They must not understand “unintended consequences.”

Now Durbin has come under great fire from media around the country who argue BOA’s new monthly fee is a direct result of Durbin’s amendment to the Dodd Frank so-called financial reform bill. The Chicago Tribune said the “charge, which other banks are likely to adopt, is a direct result of his lawmaking. Call it the Durbin Fee.”

Wells Fargo is going to charge $3 per month. J. P. Morgan Chase will be imposing a similar fee. All banks will eventually do the same thing. They are not about to “eat” billions in loses because Durbin and his compatriots are ignorant of how the market place operates.

And of course, now Durbin is pointing his finger at everyone else in trying to deflect attention from the truth of the matter.

Because Dodd Frank and Senator Durbin stuck their liberal noses into a marketplace issue, consumers are now being harmed as a direct result of their handy work.

While Dickie Durbin stands on the floor of the U.S. Senate and berates BOA and big banks, I wanted to ask him, if he hates big banks so much, why did he vote for the 2008 $45 billion bailout of BOA. If he really thinks big banks are crooks, cheaters and gougers, why’d he approve bailing BOA out of a mess that they created?

And the most important thing I’d ask him is who does he think he is using the floor of the U. S. Senate to encourage the American public to boycott a business? The Founding Fathers surely never intended the U. S. Senate to be used for such egregious, flagrant, grossly shameless behavior by a sitting U. S. Senator.

CHUG-A-CHUG-A CHOO CHOO

Mr. Obama's State of The Union lecture itemized his plans for future "investments" in our infrastructure. He is no longer calling spending what it really is - SPENDING - but now it's all about "INVESTMENTS." He believes changing the terminology will make us all swallow our medicine like good little kiddies. Just pat us on the head, throw some "pork" our way, and we'll be peachy keen. This is the Politics Of Deception taken to its highest level.

But I do believe "infrastructure spending" was a major part of the so-called stimulus plan, and that was sure a big success, wasn't it?

Now he wants to spend billions on developing and building a light rail choo choo system throughout the U.S. But wait, our highway system is deteriorating, bridges are old and collapsing, road beds are falling apart, ramps are crumbling. But Obama's "investment" in infrastructure cannot be spent on our highway system - at least in Wisconsin. It can only be spent on choo choos.

Wisconsin's Governor Scott Walker has turned down $810 million federal tax dollars that Obama wanted to give WI for building the light rail choo choo from Milwaukee to Madison. Walker said NO, WI cannot afford the rest of the money it would take to build it, nor can WI afford to maintain the system after it's completed. The yearly subsidy from WI taxpayers would be $9.7 million. That's because the choo choo system will never pay for itself through ticket prices, and Obama knows it - and so does Governor Walker. But Obama says if you don't spend my gift on choo choo trains, I will give the gift to someone who will. You cannot spend it on improving your roads and highway system. That would not be "green" enough for Obama. And he's doing this nationwide.

Oh, yes, you are so smart to remember. Washington is already in the "train" business? It's called Amtrak. Here's the Amtrack history. Amtrak loses money on 41 of 44 routes. The government subsidizes Amtrak over $1 billion dollars every single year - money gone down the black sink hole of the government run choo choo system.


And why do we need light speed rail everywhere in the U.S.? Because Obama says so. We're told there must be a faster, more frequent, more convenient CARLESS travel alternative. It's all about going green, no matter what it costs the government, which is you, the taxpayer. Obama and Washington simply don't give a hoot and a holler what you think or how much money we don't have.

But this is the TRUTH. The current federal deficit amounts to about $49,000 for every man, woman and child in the U.S. There is an IOU for you, each of your children and grandchildren filed away in the innards of the Federal Reserve. This represents what our lawmakers have wasted on your behalf as of today. And it will continue to get worse every year thanks in part to Obama's spending spree that doesn't stop. Government borrowing for 3 years under Obama budgets (2009-2011) will be more than the first 225 years of our country put together. Our future is being mortgaged at a record pace. And Obama and many in Washington don't care.

Yes, that's right. There are Democrats and Republicans in Washington equally as responsible for the U.S. financial mess as Obama. But he's the President. He is the leader. He should be leading the charge to reduce federal spending dramatically. Instead what do we get?

A freeze of existing federal spending, which is 84% higher than it was when Obama took office. It's scary to think that Obama is so ignorant of economics that he really believes a spending freeze at the current levels will do anything to get us out of this sky-is-falling economic mess.

And along with Obama's "freeze" we get "investment" in light rail choo choos. Chug-a-chug-a choo choo, Obama. Have you forgotten? WE ARE BROKE!! There is NO MONEY for your grandiose plans. So why don't you chug-a-chug-a choo choo right out of Washington. We don't need any more of your "hope and change." It's killin' us.

QUANTITATIVE EASING 101

Ever heard of Quantitative Easing? It's what Ben Bernanke, the Federal Reserve and Obama are doing right now to attempt to solve our economic blues. Obama and the Feds did it once already with the Stimulus Bill for around 2 trillion dollars. They are doing it again now for another $600 billion. This time with no vote from Congress.

They simply say "we are going to infuse $600 billion into the economy to try to create jobs." In other words, we are going to spend money we don't have. Then they decide, "But we are broke so we have to print money to make the purchase." This means they go into their little back room, rev up the printing presses, roll out the bills, grab a bunch of them in their fists, take them down the hall to the room next door and give them to the U.S. Treasury to purchase our Treasury Bonds, which is how we finance our debt. DO YOU GET THIS? We are printing our own money to buy our own Bonds. It's a Ponzie Scheme, a Bernie Madolff moment. But it's our government who's running the scam. This is lunacy! Why do Ben Bernanke and Tim Geitner, our Treasury Secretary, still have a job??

Beware, our biggest threat doesn't come from a foreign terrorist. Our biggest threat is the traitor and his czars sitting at the end of Pennsylvania Avenue.

Watch this video for a concise explanation of Quantitative Easing 101. Watch it to the end. It explains it pretty well.