Today most citizens were gratified to learn of the agreement between the U.S. Democrats and the Republicans for a budget to get us through the rest of the current fiscal year. However, $38 billion this year and $500 billion in additional cuts over the next decade is not enough, considering the incredible amount of debt that we have as a nation, which will soon be over $14 trillion and which will be much higher than double that figure in one-decade from now.
Therefore, unless both houses of Congress and the President of the United States, right now, get serious about making substantial cuts in all of our future budgets, then we will have to consider if our current spendthrift ways will end in a hyper-inflationary or a deflationary depression and financial collapse.
Most Americans understand that it would not be in the best interests of the U.S. Federal Reserve and all U.S. banks to have hyper-inflation, as that would destroy their own assets; however, the U.S. Fed is merely reacting to the increasing governmental debt placed on us by our politicians.
As the U.S. House of Representatives originates all financial and monetary appropriation bills [voted on by the House, the Senate and vetoed or signed by the President of the United States], and it is the job of Congress to oversee the U.S. Federal Reserve, the most likely long-term outcome is hyper-inflation, not deflation.
The U.S. Federal Reserve is supposed to be independent, but, in reality, it reports to the U.S. Congress.
On the other hand, either way, a hyper-inflationary or a deflationary depression will mean the end of business as usual, and a forced new way of doing business, which some call "financially responsible behavior" that will permeate the affairs of all private citizens, businesses, organizations, bureaucrats and politicians in the United States of America, soon.
In the not so distant future, out of dire necessity this new "financially responsible behavior" will be demanded by all Americans.
Though it will look like the end of the United States, in reality, it will just be a new beginning, which will make us much stronger, wiser and more cautious, again.
We are just one of a long line of nations and civilizations that will have had to re-learn these lessons of history, which play over and over, again, throughout time and probably always will.
In the end, human nature is always the same: we learn from lessons, then we prosper from those lessons, the generations that lived through those lessons die-out, and then we go through the painful process of re-learning all of those lessons, again.
Saturday, April 9, 2011
Wednesday, December 22, 2010
The Time is Right for Economic Solvency of the United States
by Arnie Webre, Jr.
The time is ripe for economic solvency of the United States, but how do we make it happen?
A 20-percent flat tax, with no exemptions, except for those with low incomes [to even the playing field] and a standard consumption tax on all discretionary new purchases would do it [given time].
Such a tax simplification would increase growth in the United States, increase tax compliance, and it would decrease the administrative costs of the IRS. Additionally, the United States would then see strong growth in the ensuing years that would make Ronald Reagan's economic miracle look just like a warm-up for the real deal.
It would be like Babe Ruth coming up to bat with the bases loaded in the last inning of the game with his team behind by one run.
Let's get busy on that Congress and Mr. President, sir!
Period.
The time is ripe for economic solvency of the United States, but how do we make it happen?
A 20-percent flat tax, with no exemptions, except for those with low incomes [to even the playing field] and a standard consumption tax on all discretionary new purchases would do it [given time].
Such a tax simplification would increase growth in the United States, increase tax compliance, and it would decrease the administrative costs of the IRS. Additionally, the United States would then see strong growth in the ensuing years that would make Ronald Reagan's economic miracle look just like a warm-up for the real deal.
It would be like Babe Ruth coming up to bat with the bases loaded in the last inning of the game with his team behind by one run.
Let's get busy on that Congress and Mr. President, sir!
Period.
Sunday, December 5, 2010
Is Sarah Palin ready to be president, part two?
by Arnie Webre, Jr., republished from this blog, as a response to a comment from "Montana" about the original article, "Is Sarah Palin ready to be president?"
Montana, you are certainly entitled to your opinion.
My opinion is that there are technical, detailed people who tell the general the information so he, or she, can make the decision.
Former President Ronald Reagan was a fine administrator and a likable guy, just like President Obama is. They both had, and one now has, the overview, but neither of them were, or are, necessarily the details guy.
Both of them were, and one currently is, the administrator, the overview guy, and I see Governor Palin in that light.
One day, she will be president.
Nevertheless, I am suspicious of the reports of Sarah Palin's vindictiveness, just as I am suspicious of the vindictiveness of the administration of President Obama's Chicago crowd.
By the way, I remember a number of gaffs by President Reagan, who was a very effective and likable administrator, as President of the United States, as was JFK, who was assassinated for his beliefs, which have turned out, historically, to be correct.
One more question, though LBJ was a likable man, using your philosophy, was LBJ brilliant because he graduated from Texas State Teachers' Normal College and former-President George W. Bush was, and is, an idiot because he obtain an MBA from Harvard University?
Is Dan Quayle stupid because he is an attorney, or did he just momentarily look stupid because he misspelled the word "potato," when the plural of "potato" is "potatoes?"
You make the call, Montana, as long as you think the call is a fair one.
One can easily, legitimately argue that Republicans, Democrats and Independents have all greatly contributed to the current deficits and the devastating national debt load, in their efforts to give the voters whatever they wanted, so they, the politicians, would be re-elected.
That is not leadership! That is weakness, cowardliness, and selfishness.
I do agree that President Bush should not have fought two-wars at one time, just as President Obama should not have radioed to our enemies the time-frame of when we are leaving Iraq or Afghanistan.
On the other hand, I was proud of President Obama's arousing speech to the U.S. troops a couple of days ago, and his closing comment, "God Bless America!"
President Obama has come of age as a leader, and he is trying to facilitate compromise between the posturing [for re-election] Republicans, Democrats and Independents, to get the legislative business of America done.
I am proud of our president at this moment in time. I think he is doing the right thing, under trying circumstances.
I just wish more politicians would put aside their selfish vested interests long enough to save America from its crippling national debts and deficits, and they should start by not adding to our national debt.
Every Congress and every presidential administration for the last 46-years, since the last true, un-manipulated United States surplus under JFK, has added to our huge national debt.
God Bless and Save the United States of America!
Montana, you are certainly entitled to your opinion.
My opinion is that there are technical, detailed people who tell the general the information so he, or she, can make the decision.
Former President Ronald Reagan was a fine administrator and a likable guy, just like President Obama is. They both had, and one now has, the overview, but neither of them were, or are, necessarily the details guy.
Both of them were, and one currently is, the administrator, the overview guy, and I see Governor Palin in that light.
One day, she will be president.
Nevertheless, I am suspicious of the reports of Sarah Palin's vindictiveness, just as I am suspicious of the vindictiveness of the administration of President Obama's Chicago crowd.
By the way, I remember a number of gaffs by President Reagan, who was a very effective and likable administrator, as President of the United States, as was JFK, who was assassinated for his beliefs, which have turned out, historically, to be correct.
One more question, though LBJ was a likable man, using your philosophy, was LBJ brilliant because he graduated from Texas State Teachers' Normal College and former-President George W. Bush was, and is, an idiot because he obtain an MBA from Harvard University?
Is Dan Quayle stupid because he is an attorney, or did he just momentarily look stupid because he misspelled the word "potato," when the plural of "potato" is "potatoes?"
You make the call, Montana, as long as you think the call is a fair one.
One can easily, legitimately argue that Republicans, Democrats and Independents have all greatly contributed to the current deficits and the devastating national debt load, in their efforts to give the voters whatever they wanted, so they, the politicians, would be re-elected.
That is not leadership! That is weakness, cowardliness, and selfishness.
I do agree that President Bush should not have fought two-wars at one time, just as President Obama should not have radioed to our enemies the time-frame of when we are leaving Iraq or Afghanistan.
On the other hand, I was proud of President Obama's arousing speech to the U.S. troops a couple of days ago, and his closing comment, "God Bless America!"
President Obama has come of age as a leader, and he is trying to facilitate compromise between the posturing [for re-election] Republicans, Democrats and Independents, to get the legislative business of America done.
I am proud of our president at this moment in time. I think he is doing the right thing, under trying circumstances.
I just wish more politicians would put aside their selfish vested interests long enough to save America from its crippling national debts and deficits, and they should start by not adding to our national debt.
Every Congress and every presidential administration for the last 46-years, since the last true, un-manipulated United States surplus under JFK, has added to our huge national debt.
God Bless and Save the United States of America!
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