Business Insider, St. Louis Fed
Business Insider, St. Louis Fed
Social program spending (red) has grown so much, in fact, that it now consumes almost all federal tax revenue (blue).
Earlier this week I wrote that Michelle Obama’s household budget was $1.4 million per year for her personal White House Staff of (22) employees. You can check this information at Michelle Obama’s Staff as published by FactCheck.org. These expenditures far exceed the savings of $18,000 week/$996,000 year of closing the White House to all public visitors.
Now we learn that the White House is only closed to the American Public but not to Lobbyists and other special interest groups. See report below.
“My White House” or “The People’s White House”
BY LUKE ROSIAK | SEPTEMBER 17, 2013 AT 5:07 AM
Regular American citizens visiting the nation’s capital lost access to the White House in March as President Obama eliminated public tours to make a point in his battle with House Republicans in the sequestration debate over cutting spending or raising taxes.
But hundreds of K Street lobbyists, including corporate advocates who are paid to influence policy on behalf of Fortune 500 giants, saw no change in their access to the chief executive and his senior aides, according to a Washington Examiner analysis of White House visitor logs and lobbying records.
The analysis found that 200 lobbyists met 344 times with White House officials at 1600 Pennsylvania Ave. between March and May.
Yesterday the CBO issued a report that says that our current rate of Federal Government expenditures is unsustainable!
What this means is that our country will go broke at the current rate of expenditures!!!
For years now Ben Bernanke as head of the Federal Reserve has been printing money without anything backing it up (except the good faith of the United States Government-which can be spent into bankruptcy….remember Greece?).
And this is why Wall Street is so happy with this economic environment…interest rates are very low…corporations can borrow money very cheaply…and make substantial profits from their investments…and as a result…profits are excellent for many companies…all coming from the printing of unsecured money at low interest rates. As a result the stock market is experiencing strong gains based on company profits…as is expected. And as a result those with wealth gain more wealth.
Do you believe that this will ever end? Of course it will. And what do you think will happen? It is called major inflation for you and I. Prices of goods typically increase dramatically as inflation takes over.
Wall Street Journal
Sept. 17, 2013, 2:10 p.m. EDT
Debt to reach 100% of GDP in 25 years, agency estimates
WASHINGTON (MarketWatch) — Congressional budget analysts on Tuesday issued a stark new warning about the long-term U.S. budget outlook, just as lawmakers and the White House are staring at a pair of fiscal confrontations.
The nonpartisan Congressional Budget Office said that the U.S. national debt is now 73% of gross domestic product, the highest in history except for a period around World War II. The figure is twice the percentage it was at the end of 2007. Read the CBO report.
This President has implemented socialist policies that call for redistribution of wealth from the wealthy to the less wealthy…and that the IRS assumes the job of enforcing the extraction of money from those who earn it and give it to those who have not earned it. At the current rates of federal spending and social programs this system is doomed for failure. And now we have lost all trust in the ethics and actions of the IRS and those who give them orders.
Since we began the social programs in the early 60’s…the poor have not truly benefitted in terms of lifting themselves out of poverty. Many have had a free ride…and now President Obama is trying to drive this country to a total socialistic state with even more socialistic giveaway programs leading to bankruptcy…which the what the CBO is saying.
These actions are very disturbing to many of us and especially to me. It seems that the President has reached a “disconnect” from reality about what is going on in this country. Reports are that there is no one in the White House who is bringing him to see reality. One of my most colorful language friends would refer to their actions as “drinking their own bathwater”. Surely we should have protection as a country from wasteful political leaders confiscating our money and boon-doggling it all over the world on expensive trips, and unrealistic, wasteful programs. Is there no respect or recourse for citizens who pay taxes in the U.S.? Is our system of government failing us? Must we endure this hipocracy? I have always heard that the primary job of the President of the United States is protection of this country. Frankly, are we as safe as we once were?
Obama…”MY WHITE HOUSE”