Posts Tagged ‘actual debt’

How The United States Of America Will Catastrophically Financially Implode SOON

October 15, 2013

Let’s start with this:

China calls for dollar to be replaced as global reserve currency
Upset that the U.S. fiscal impasse threatens to trigger a default that would roil financial markets worldwide, Beijing suggests ‘building a de-Americanized world.’
By Jim Puzzanghera
October 14, 2013, 5:23 p.m.

WASHINGTON — Five years after the U.S. financial crisis helped cause a deep global recession, foreign leaders are worried that history is going to repeat itself.

The fiscal impasse that has partially shut the federal government now threatens to trigger a U.S. default that would roil financial markets worldwide, leading an agitated China to suggest replacing the dollar as the international reserve currency.

“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” China’s official state-run news agency, Xinhua, said in an English-language commentary Sunday.

There is no viable alternative to the dollar as the centerpiece of the global financial system, and there probably won’t be for the foreseeable future, experts said.

But Washington’s debt limit standoff — coming on the heels of similar brinkmanship in 2011 — could accelerate efforts to find an alternative.

“The U.S. remains the core of the global financial system at this point,” said Nicolas Veron, a senior fellow at Bruegel, a think tank in Brussels. “But the sort of thing happening in the U.S. might move people toward a system less reliant on the U.S.”

China echoed calls from world financial officials urging an end to what it called the “pernicious impasse” in the U.S. over funding the government and raising the $16.7-trillion debt limit.

The Treasury Department has said the debt limit must be raised by Thursday or it will run out of borrowing authority. That would leave it dependent on just cash on hand and incoming revenue to pay the federal government’s bills. Given the world financial system’s dependence on the dollar, a default on payments of interest or principal on U.S. Treasury bonds would be catastrophic for the global economy, analysts said.

Treasury bonds and other dollar-based investments are used as the main form of collateral worldwide, so questions about their security would cause more problems than the financial system failures in fall 2008, said Benjamin J. Cohen, an international political economy professor at UC Santa Barbara.

“It would make the Lehman Bros. episode look like a garden party by comparison,” Cohen said.

The U.S. debt limit standoff was the main topic at the recent meetings in Washington of the International Monetary Fund and the World Bank.

Global finance ministers are worried that the uncertainty surrounding a U.S. default “would mean massive disruption the world over, and we would be at risk of tipping yet again into a recession,” Christine Lagarde, head of the IMF, told NBC’s “Meet the Press.”

Most countries hold their foreign exchange reserves in U.S. dollars because the currency is viewed as the world’s most stable.

“The very fact that more than 60% of central banks’ reserves are in dollars gives them every reason to be concerned,” Barry Eichengreen, a professor of economics and political science at UC Berkeley and a former senior policy advisor at the IMF, said of foreign governments. “If the bank in which you held 60% of your savings was threatening to default, you’d be concerned too.”

U.S. financial markets rebounded Monday amid optimistic reports from Capitol Hill about negotiations between Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) to end the standoff.

China is the largest foreign holder of U.S. debt, with about $1.3 trillion in Treasury bonds, and probably more in other dollar-denominated investments. So the Beijing government is worried about the effect of a U.S. failure to raise the debt limit on those holdings.

The Xinhua editorial took swipes at the U.S. for claiming “the moral high ground” while “covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.”

Although it slammed the U.S. for the Iraq war and military activity around the world, the article focused much of its fire on the U.S. role in the global economy, saying “the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites.”

“Most recently, the cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising debt ceiling has again left many nations’ tremendous dollar assets in jeopardy and the international community highly agonized,” Xinhua said.

The editorial called for a “a new world order” in which “all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.”

That new order should start with respect for the sovereignty of other nations, the editorial said. It also should include major financial reforms, such as allowing developing and emerging economies to have more say in the operations of the IMF and the World Bank.

China has been pushing since at least 2009 for the dollar to be replaced as the world’s reserve currency. The nation has not only called for a new international currency to be developed but also has been taking steps to make its currency, the yuan, more acceptable as a potential alternative.

“They never lose an opportunity to take advantage of embarrassing behavior by the United States,” Cohen said. China made similar calls in 2011, when a debt limit standoff was resolved at the last minute.

But the Chinese currency and its financial system are not ready to be the world’s reserve currency, experts said. Even the euro and Japanese yen aren’t prepared to do that because they lack the liquidity of the dollar.

Still, the latest Washington crisis could push the world to seek ways to diversify the financial system away from its dependence on the dollar, Cohen said.

“The only thing that can hurt the dollar these days is political dysfunction in Washington. We’re shooting ourselves in the foot,” he said. “The more we play these games in Washington, the less confidence people will have in the dollar and the more incentive people will have to do this diversification.”

The first thing I couldn’t help but notice is how communist China’s demagoguery sounds almost exactly like Obama’s demagoguery.  They’re both talking down America hoping that the worst will happen to this country because each (i.e, China and Obama) believes their political goals will be attained through America’s demise.  But moving on…

I don’t know whether the Los Angeles Times – which is staffed by liberal ideologue propagandists as opposed to actual “journalists” is simply being incompetent in this story or being the propagandists that they are (i.e., the backstory is that the “default” is the Republicans’ fault, and ergo sum the global meltdown over the “default” will be all the Republicans’ fault, too).  But here’s a fact that kind of pees all over some of the main assertions in this story:

From November 24, 2010 (the money quote is boldfaced at the end):

China and Russia have agreed to allow their currencies to trade against each other in spot inter-bank markets.

The motive is to promote the bilateral trade between China and Russia, facilitate the cross-border trade settlement of [the yuan], and meet the needs of economic entities to reduce the conversion cost, according to Chinese officials.

This latest move — a continuation in a series of efforts by both countries to move away from  U.S. dollar usage in international trade — further threatens the dollar’s reserve currency status.

The dollar has this status because it is currently the currency of international trade.

For example, when Malaysia and Germany exchange goods, the transaction is often denominated in dollars.  In particular, oil — something that all modern economies need — is denominated in U.S. dollars, so the currency is almost as indispensable as oil itself.

The dollar reserve currency status allows the U.S. to run up high deficits and have its debt be denominated in the U.S. dollar, which in turn enables it to print unlimited dollars and inflate its way out of debt. America, understandably, wants to protect these privileges. […]

Meanwhile, China and Russia are gradually revolting against the U.S. dollar. This latest move to shift bilateral trade away from it is significant in itself because China-Russian trade — previously denominated in dollars — is currently around $40 billion per year. For Russia, trade with China is larger than trade with the U.S.

Moreover, as this policy extends to Russian exports of oil and natural gas to China, it threatens the global petro-currency status of the U.S. dollar.

According to the International Energy Agency, China is already the largest consumer of energy,  although the U.S. is still the largest consumer of oil. However, China, now the largest automobile market in the world, is expected to rapidly increase oil consumption.

Russia is already the second biggest oil exporter and the biggest natural gas exporter in the world.

In other words, the growing importance of Russia and China in the global energy picture — and their phasing out of dollar usage for trading energy commodities — would marginalize the status of the dollar.

Russian ambitions against the dollar for energy exports go back to 2006. That year, former President Vladimir Putin made plans to set up a ruble-denominated oil and natural gas stock exchange in Russia.

So, in fact and contrary to the Los Angeles Times “reporting,” the movement away from the U.S. dollar as the reserve currency in fact PREDATES the financial crisis – and goes back to at least 2006 (I would argue it goes back even further than that, but I’ve proven my point: the financial crisis happened in late 2008).  So the LA Times is simply wrong in its thesis that the debt ceiling issue – which they over and over again hype as a “default” – is just plain bogus.

When we consider that Barack Obama demonized George Bush and ostentatiously voted against his debt ceiling (and didn’t bother to even show up and vote when the debt ceiling was raised other times during the Bush years – such that HE NEVER DID VOTE FOR A BUSH DEBT CEILING INCREASE other than when he voted for TARP – you also see the deceitful and dishonest propaganda that is going on.  It’s always “that was then” with these people; it’s always “It’s only fascist when THEY do what we did” with them.  Such as the fact that Obama did a press conference demonizing the GOP for not voting for his debt ceiling hike without ever bothering to so much as mention the fact that Obama did the exact same damn thing and how could the Republicans be anything but just as evil as the man who was now demonizing them???

Nor will that same blatantly dishonest media point out that Democrats shut down the government over the debt ceiling EIGHT TIMES during the Reagan presidency.  Because that would prove the lie to Obama’s “this has never happened before” and “no party has ever been this bent on destroying America” load of garbage.

Nor will they point out that it has largely – if not exclusively – been OBAMA who has fearmongered the debt ceiling rather than the Republicans.

The dishonesty of the mainstream media is simply breathtaking.

Having said that, let’s continue and examine this “default.”  Because it, too, is just a lie of propaganda:

Black’s law dictionary has this to say about “default”: The omission or failure to fulfill a duty, observe a promise, discharge an obligation, or perform an agreement [or observe a promise or discharge an obligation (e.g. to pay interest or principal on a debt when due ].

Come October 17 if our dysfunctional Washington hacks do not raise our debt ceiling, ominous forecasting of imminent default on our $17 trillion burden pound the airwaves. Prevarications foisted by the progressive press-corps regarding the United States becoming delinquent on its Treasury debt are as preposterous as they are disingenuous.  Whether premeditated lying or, equally likely, out of a stark darkness of matters economic the result is the usual fear mongering we have come to expect from their rumor mills.

Inconvenient as they may be, some facts are in order. The fiscal 2013 debt service for the twelve months ending September 30 will be somewhere around $420 billion. (Per the Bureau of Fiscal Service the actual figure of 11 months through August was just under $396 billion). IRS revenues for the calendar 2012 tax year will probably be around $2.3 trillion. That equates to over a five and a half times debt service coverage. So having enough money is not even close to the issue. There has been some discussion of what some are naming “prioritization of payments”.

Democrats are truly evil to fearmonger a “default” to falsely demonize and slander their opponents at the expense of the U.S. economy.  And Barack Obama is the most recklessly irresponsible president in the entirety of American history to join them in their lies.

To wit, we could easily pay our debt and NOT default.  And we could do that for not months but for years to come, if necessary.

If that isn’t enough, Republicans have already done the leg work to prevent any kind of “default”:

Sen. Pat Toomey and more than 30 Senate colleagues will introduce the “Ensuring the Full Faith and Credit of the United States and Protecting America’s Soldiers and Seniors Act.”

The bill is meant to offer a stop-gap if Congress refuses to raise the debt ceiling and the Treasury Department thus falls short of having enough cash to pay all the government’s bills in full and on time.

Toomey’s proposal would require that revenue going to Treasury first be used to pay interest on U.S. debt, Social Security benefits and active-duty military pay.

If there’s not enough revenue available to cover those payments when they’re due, the bill would also give limited authority to Treasury to raise the debt ceiling just enough to borrow the difference between revenue on hand and what’s owed on the priority payments.

I’ve pointed out the fact: if there IS a “default,” it will be because Barack Hussein refused to allow the Treasury to make the interest payment that the United States could in fact make.  He has already demonstrated that he is a genuinely evil man who is trying to make the political impasse as harsh and as painful as he possibly can in order to falsely demonize Republicans.

There is one and only one genuine fact in the Los Angeles Times piece: that of China’s demand that the United States be replaced as the reserve currency of planet earth.

That WILL happen soon.  Because Democrats WILL NEVER REIGN IN THEIR DEMONIC SPENDING.

The true debt of the United States is not the “paltry” $17 trillion that we keep hearing about; it is actually well WELL over $222 TRILLION.  Our actual debt, our “fiscal gap” between our debts and our ability to actually pay for all the crap Democrats keep imposing on America, is going up about one trillion dollars every single MONTH.  Because politicians are liars who paper over debts with more debts and then cover those debts up with still more debts.

Democrats are the worst addicts who ever existed.  Heroin, coke, crank, meth, crack addicts got NOTHIN’ on Democrats.  Because Democrats are addicted to money and the power that their money buys them – and they are addicted to it TRILLIONS OF DOLLARS AT A TIME.

The only reason Democrats can keep this insane game of insane spending going is because America is the world’s reserve currency.  The fact that all commodities such as oil are bought and sold in U.S. dollars has given us an unprecedented ability to basically just print money and keep escaping the consequences.

We have been just plain flat-out DEPRAVED in our spending.

As an example, do you know what triggered to insanely-titled-by liberals “Arab Spring” in which Arab regimes fell to be replaced again and again by terrorist-sponsored governments?  Food riots induced by Obama’s Fed as they kept printing more and more money and basically just adding more and more zeroes to the Federal Reserve computers.  As we printed more money, the Arab states that depended on the stability of the dollar saw massive inflation (because THEY can’t print more dollars their dollars became worth less = worthless).

Well, as Obama’s reverend once said, the chickens are about to come home to roost.  And they will roost on a collapsed, doomed, dead former United States of America.  And very soon.

One day, soon, the world will have had enough.  One day, soon, our stint as being the reserve currency and maximally exploiting that status with reckless and immoral spending that we can’t possibly afford will be ended FOR us.

And China will step in and take ownership.  And kick you and our family out of your home in the cold if you can’t pay their “damned American imperialist” rent surcharge.

Our time is coming.  We’ll get ours.  We’ll get what we deserve as a nation for being wicked enough to elect and then re-elect Obama: we’ll get Dodo bird extinction just like we deserve.

The United States is nowhere mentioned in Bible prophecy; that’s because America will have collapsed and simply be irrelevant as we enter these last days just before the beast of the Book of Revelation comes to impose his mark and doom the world to suffering and hell.

Advertisements

The Party Of Genuine Evil And The Destruction Of America: In 39 States, Democrat Welfare Pays Better Than A Secretary’s Job

September 20, 2013

If you are a Democrat, you despise religion, despise Judeo-Christianity, and despise Christian values and vote for these things to be criminalized.  If you are a Democrat, you are WORSE than a mass murderer.  Literally, you have participated in the murder of nine innocent human beings – totaling a death toll of over 55 million human lives – for every single Jew that Hitler had exterminated in the Holocaust.  If you are a Democrat, you are a celebrator of degenerate sodomy who demands the destruction of marriage and the destruction of the family.  If you are a Democrat, you oppose law enforcement and benignly smile as criminals oppress innocent – and thanks to your policies, completely helpless – citizens.

And if you are a Democrat, you have an unrelenting hostility toward the work ethic and seek the destruction of America in favor of the creation of a Marxist welfare State.  If you are a Democrat, you read the Cloward and Piven article – detailing a plot by the left to overwhelm the social support structures of the United States as a means to implode the United States so that our free “one nation, under God” could be replaced by communism or something even worse (and DON’T think that strategy isn’t alive and well today in the hearts and minds of the left).

Welfare pays.  Thanks to Obama, thanks to the Democrat Party, welfare pays well.

It’s WORK that doesn’t pay anymore.  And if you have a job and pay your taxes, you are a sucker.

One day every single Democrat will stand before a just and holy God as fire and smoke pour out of the chariot wheels of His increasing wrath and they will have to give an answer for their murderous, depraved lives and what they did with them.

Welfare now – in the age of Obama’s “fundamental transformation of America – pays more than the minimum wage in 35 states.

Amazingly, given the fact that welfare benefits average MORE THAN $15 an hour in non-taxable income, welfare pays better than a job that “pays” $21 an hour in the private sector.  And that doesn’t, by the way, include the cost of transportation to that job or the cost of purchasing clothes suitable for a job.

Which is why in 39 states, welfare “pays” better than the starting salary of a secretary:

The authors found that in 11 states, “welfare pays more than the average pretax first-year wage for a teacher [in those states]. In 39 states, it pays more than the starting wage for a secretary. And, in the three most generous states a person on welfare can take home more money than an entry-level computer programmer.” — Wall Street Journal, “Work or Welfare: What Pays More?”, August 19, 2013

It’s why in liberal Democrat New York City, welfare “pays” better than a starting teacher’s salary.

Hell, in 47 states, according to Cato, welfare “pays” better than what a janitor “earns.”  Which is why so many liberal welfare parasites sneer at the foolish unwashed janitor who is a sucker because unlike them, he is honest and actually works for his check.

This “one nation, under Obama” is doomed.  It’s too late.  We’re finished.  And we DESERVE to be finished.

Our actual debt now exceeds $200 trillion.  And what the Fed did two days ago, keeping up their “QE Forever” because Obama has so gutted the economy that we can’t ever get away from running the money printing presses day and night forever guarantee our well-deserved destruction.

Fiscal Cliff Deal Is A Raw Deal For The Rich And For America. And It Sets Up ANOTHER Raw Deal In Sixty Days Over Out-Of-Control Obama Spending.

January 2, 2013

It’s a truly fascinating thing.  Had we “gone over the cliff,” do you know what would have happened?  We would have returned to the Clinton tax rates.

What is truly remarkable is that the Clinton tax rates are now nearly universally viewed by Democrats as having been 98% pure, distilled evil.  Because the Democrat Party has now been saying that Americans can’t afford to pay the stupid and evil tax rates that Democrats once demanded they pay.

But what would have been stupid and evil and harmful to the American economy for 98% of the population is in fact true for 100% of the population.  It is simply a gargantuan lie to try to argue that the laws of economics – that when you tax something you invariably get LESS of it – is true for 98% but is a lie for 100%.

Yes, it is a fact of history that the Republican Party under George W. Bush saved America with the tax cuts that helped the middle class grow more and spend more.  And it is now a fact of history that Democrats are now implicitly saying that the Clinton tax rates were 98% evil and counterproductive to a growing economy.  Democrats were completely wrong about their high tax rates; but Democrats are liars who won’t EVER admit they were wrong.  Instead they merely continually shift their demonization and demagoguery to a different target without ever admitting that it was only a relative few years ago that Democrats were attacking the middle class with high taxes that are suddenly now universally recognized as evil.

Isn’t it amazing how Obama, the Democrats and the mainstream media propaganda actually just claimed credit for 98% of the Bush tax cuts while still blaming Republicans as evil for creating the very thing that Democrats are on record as now being 98% for?  How does this kind of falsehood pass for truth???

Here’s a little bit of fact for you: BILL CLINTON CUT TAXES FAR MORE THAN HE RAISED THEM.  It wasn’t until Clinton CUT the capital gains tax in addition to many other tax reforms that the economy truly took off and the budget deficit shrank.  Versus Barack Obama, who has stratospherically hiked taxes on the rich and on the middle class via massive regulation and the equally massive ObamaCare tax hike.

And keep in mind that Bill Clinton – who largely presided over a good economy with the help of Republicans who controlled both the House and the Senate – said “the era of big government is over.”  Obama reversed that and now America will pay dearly for it.

It is a fact of history that Democrats are now demanding that we keep 98% of Bush’s tax cuts while simultaneously taking credit for them.  While amazingly still saying that the Bush tax cuts – which they now say were 98% good – are still evil.

Democrats claim that their tax hike on the rich, on the other hand, will generate $620 billion in additional revenues.  Here’s the first problem with the deal that Republicans were trapped into: no it won’t.

History is now replete, full, satiated, gluttonously gorged with examples of Democrats’ stupid tax claims doing the very opposite of what they claimed it would do.  The most infamous example is the luxury tax or so-called “yacht tax” on the rich.  Democrats assured Americans that the rich could certainly pay a little more (there’s a line that stupid people keep arguing, isn’t it?) to own luxury items.  Democrats saw the government getting more and the rich paying “more of their fair share” (there’s another stupid line of demagoguery for you).  What in FACT happened was that it turned out that, guess what, rich people AVOID TAXES just like everybody else tends to do.

Falling Tax Would Lift All Yachts
By AGIS SALPUKAS
Published: February 7, 1992

The nation’s luxury-boat builders, many clinging to their businesses after two years of plunging sales, finally got some good news last week.

President Bush, in his budget proposals, asked Congress to repeal the 10 percent luxury tax on yachts priced at more than $100,000 (and also on private planes that cost more than $250,000). The repeal, which Congress is likely to approve, would be retroactive to Feb. 1.

Since the tax took effect in January 1990, hundreds of builders of large and small boats have spoken of it as a stake driven into the heart of an industry already suffering from the recession, tighter bank rules on financing and fallout from the gulf war.

In the last two years, about 100 builders of luxury boats — recreational craft costing more than $100,000 — cut their operations severely and laid off thousands of workers. Some builders filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code.

Now, sales personnel and owners of marine companies are hoping they will be swamped by buyers who have held off in the expectation that the tax will be repealed.

The 10 percent tax applies to the amount of the cost above $100,000, so that a boat selling for $300,000 carries a $20,000 luxury tax. That tax is in addition to any state and local taxes. […]

Also, boat prices have dropped as much as 40 to 50 percent, interest rates have fallen and some lenders have begun to offer financing, though on very strict terms.

In 1991, sales of luxury boats dropped 70 percent from 1990’s level, while overall boat sales fell 18 percent. Relies on Foreign Customers

The luxury tax really hurt us,” said William J. Healey, the president of the Viking Yacht Company in New Gretna, N.J.

He gestured toward a few big luxury boats being built there. A 50-foot boat costing $800,000 is bound for Italy; a $1 million yacht may be sold in Japan. A 65-foot motor yacht costing $1.3 million is bound for Greece.

The business from overseas, developed in the last two years, is enabling Viking to limp along, its work force cut to 150 workers from 800. “Very fortunately, it has helped us weather the downturn,” Mr. Healey said as he pointed to two production lines that have been inactive for several years.

Domestic demand fell so sharply that a year ago Viking shut an operation in Tampa, Fla., that employed 800 workers. The plant was built in the boom of the 1980’s, when most boat makers could not keep up with demand.

Yeah, that’s right, stupid liberal.  Raising taxes on the rich a few percent won’t hurt anybody.  They can afford it.

And if you’re either stupid or demon-possessed, you still believe that damn Marxist class warfare lie.  But people who prefer the truth and have a clue about something called “history” sure don’t.

The fact of the matter is simple and straightforward: lower tax rates for EVERYBODY creates more incentive to work harder and invest more because you are allowed to keep more of what you earn.  It is a simple truth of American history that every single time tax rates have been cut, we have had growth that generated MORE revenue than we otherwise would have.

There’s a second and even more harmful reason that Obama won’t raise more revenue as he falsely claims: because he’s going to be targeting and attacking the small businesses that create jobs.  Yes, it’s true on one level that 97% of small businesses won’t see their taxes shoot up and force them to lay off workers and cut back to pay the dictator.  But as is often true, another word for “lie” is “statistic.”  Because here’s the thing: THAT THREE PERCENT OF THE BUSINESSES DO MOST OF THE ACTUAL HIRING.

I documented this back in July:

Please take a look at the US government census information on small businesses.  The latest data they have on file comes from 2008:

Out of 27,281,452 total firms, 21,351,320 are listed as “nonemployer firms.”  Which means that 78.23 percent of all small businesses hire ZERO employees.   So when Obama says that 97% of small businesses won’t be affected by his tax hike, please understand that the whopping majority of those businesses that won’t be affected aren’t hiring anybody.  Another 3,617,764 small businesses have no more than four employees.  Those small businesses that hire zero workers plus those small businesses that hire no more than four workers constitute 91.5% of ALL small businesses.

Here’s a more relevant way to look at it.  When you consider the businesses that employ more than four people, you are looking at businesses that hire 94.97 percent of ALL the workers who work for small businesses.  And while not all of the small businesses that hire between 5-9 employees are going to be paying higher taxes as a result of Obama’s class warfare on small businesses, most of them do.  And virtually none of the businesses that hire more than ten employees are going to earn less than $250,000 a year.

So, yeah, the kid who is an “independent contractor” working his paper route won’t be paying more taxes under Obama’s class warfare plan.  That’s great.  But the overwhelming majority of small businesses (defined as businesses employing 499 or fewer workers) are going to get the crap beat out of them.

So Obama and Democrats like to point out that 97% of small businesses won’t be affected by their tax hikes.  But more than 78% of small businesses in his “97 percent” figure are “nonemployer firms” and hire ZERO workers.  So no jobs.  And when you look at the businesses that hire workers, you are looking overwhelmingly at the businesses that are going to be hit by these new tax hikes.  That is simply a FACT.  And it is simply a FACT that they are going to be forced to raise their prices to accommodate their rising costs of doing business, which will in turn reduce demand for their products or services, which will then in turn force them to lay off workers because of aforementioned reduced demand.

So what Obama and the Democrats just did is savagely attack the only people who have any chance at creating more job opportunities and bringing the US economy off its back and onto its feet again.

Keep in mind that in pimping his ObamaCare, Obama promised that premiums wouldn’t go up; he promised that if you like your doctor, you could keep your doctor; he promised that he wouldn’t tax the middle class.  He lied about EVERYTHING.  And he is lying to you now.  Because he has over and over again demonstrated that he is a liar without shame, without honesty, without decency and without integrity.

But we’re just getting warmed up describing how truly godawful this “deal” is.

Obama – even on his regime’s own calculations – will only get 8 1/2 days of additional tax revenue by attacking the rich and sabotaging the US economy by hurting job creators.  The problem when you consider Obama’s trillion-plus dollar deficits every single year of his entire presidency is that he refused to do a damn thing about the OTHER 356.5 days of the year.

We raised $1.8 trillion in income tax revenue in 2012.  It will be a very interesting thing indeed to see if we raise $2.42 trillion as the Democrats claim.  I bet we won’t be anywhere near that because it was a lie from the beginning.

Obama has the blue-whale-sized balls to claim that he cut the deficit by over $1 trillion.  Even the überliberal Washington Post says he’s a Pinnochio-nosed liar.  But let’s just think like people who AREN’T insane and AREN’T demon-possessed for a second: the US national debt is now over 16.4 trillion and will be well beyond that by January 20 when Obama’s first term ends; it was $10.626 trillion the day Obama took office.

Do you remember when our demon-possessed current president demonized his predecessor by pointing out that the debt had grown by $4 trillion over Bush’s eight years in office?  I pointed out back in September:

If Obama is a one-term president, which he himself by his own rhetoric said he ought to be, he will have added more than $6 trillion to the debt in his four years by the time he leaves office.  The same man who viciously demonized his predecessor for adding less than $5 trillion over EIGHT years.  The national debt is over $16 trillion now, and it’s going to keep piling on and piling on until January 2013.  With at least $500 billion in interest to pay on top of that.

Again, Barack Obama is a liar and a hypocrite without shame, without decency, without honor and without integrity.  He is shameless.  The Democrat Party is shameless.  And the mainstream media which protects both with their propaganda machine are shameless.

And our real debt is actually now considerably over a beyond-insane $222 trillion.  And is growing by about one trillion dollars every single MONTH:

The U.S. fiscal gap, calculated (by us) using theCongressional Budget Office’s realistic long-term budget forecast — the Alternative Fiscal Scenario — is now $222 trillion. Last year, it was $211 trillion. The $11 trillion difference — this year’s true federal deficit — is 10 times larger than the official deficit and roughly as large as the entire stock of official debt in public hands.

And why are we that $222 trillion – and actually that is now more like $227 trillion given the rate of growth of that debt and the five months that have passed since that article documenting the true debt was written – you ask?  Easy, 99.99999 percent of that debt which guarantees the collapse of America came from Democrats, and specifically their boondoggle entitlement programs such as Social Security, Medicare, and Medicaid.

It’s funny, in a sad, pathetic, ironic sort of way: Democrats demonize Republicans for trying to protect America and her interests abroad with a strong national defense.  But the only thing the Constitution specifically ordered the federal government to “provide for the common defense.”  And note that word, “provide.”  It means, “pay for to provide.”  The same liberals who demonize us for doing what common sense and the Constitution alike command us to do point to the phrase “promote the general welfare.”  Do you get that difference between “provide” and “promote.”  If you ask me to provide something, I’m on the hook for it in a financial way.  That’s what it means to be a provider.  If you want me to promote something, I’m going to say nice things about it and cheerlead for it.  But that’s all.  And so like everything else, Democrats turned the Constitution, basic morality and true Christianity on its head and made what is wrong right and what is right wrong.

If liberals were actually to “promote the general welfare,” they would cheerlead the private economy and encourage growth by keeping taxes low for those who are willing to work hard so they can keep what they earn.  And then, with the minimum size and minimum amount of regulation, they would get the hell out of the way.

What Democrats “promote” is the general cancer instead.

And that mindset became a rotting cancer that is just about to consume and kill the patient America.

This nation is doomed.  And if you voted for Obama, you are one of the people who doomed it.   We cannot possibly pay these debts that will ultimately bankrupt this country but only after our children and their children are forced to bear the burden and suffer because of your self-righteous and sanctimonious greed a.k.a. “your entitlement mindset.”  And one day you will stand before a holy God and answer for the fact that you are a toxic human being whose soul swims in every kind of lie.  Because that’s what Obama voters are: bad people who hate the truth and who prefer lies.  Aside from your dishonesty, you are greedy and hypocritical – feeling yourself entitled to seize other people’s money when you would scream if your own money were taken from you.  And aside from your dishonesty, greed and hypocrisy you are hurting the poor who ought to be helped.  Because as I pointed out above – and thoroughly document with the article I linked you to stating it – when you seize the wealth of private citizens who overwhelmingly worked hard and then planned well and then worked hard some more to get that wealth, you end up hurting the very poor you falsely profess to be helping.  Because you force businesses large and small alike to reduce their workers.  You rob the poor of dignity by preventing them from being able to find jobs.  And then you cynically exploit their desperation to get them to vote Democrat so they can be on welfare for life as long as they continue voting Democrat.  Oh, you will one day be forced to give an account for all of it, rest assured.  And you will be giving that account to a Someone who knows the truth from all of your lies and your slander.

In sixty days this “fiscal cliff deal” that the mainstream media is so damn giddy about will come boomaranging back in the form of a massive political crisis caused by Obama’s morally insane and fiscally evil out-of-control spending binge.

Further, this stupid deal did nothing to avert the sequestration that Obama’s White House invented that will cripple our economy.  Just for starters, 1.53 million defense industry workers are going to get their 60-day layoff notices that they frankly should have already received according to federal law that Obama abrogated for cynical political purposes.  The defense industry has already began to suffer because everybody knows that Obama is at war with our ability to defend ourselves against war.  Obama has already cut $480 billion from defense; and his sequestration gimmick will soon devastatingly cut the Pentagon by $500 billion more.

Republicans were maneuvered into an impossible rhetorical battle against a master demagogic rhetorician.  They were demonized as “the party who was willing to force everybody’s taxes to go up over the wealthiest two percent of the country.”  When how the hell were the Democrats not “the party who was willing to force everybody’s taxes to go up over the wealthiest two percent of the country”???  Weren’t Democrats threatening to go off the cliff unless they got to attack the top two percent of earners?  How were they not doing the very thing they slandered the Republicans for doing???

This country is going to shut down in sixty days over that “spending issue” that Obama and the Democrats absolutely refused to deal with.  Because this “deal” did nothing to slow down the debt, nothing to slow down Obama’s shocking deficits, nothing to avert a debt ceiling showdown and nothing to avert the REAL fiscal cliff of Obama’s sequestration plan.

The markets that stupidly surged today will just as stupidly collapse then.  Because anybody who isn’t a fool should see this confrontation over insane and immoral debt coming.

Meanwhile, it is God damn America, full speed ahead to ruin.  And then the Antichrist and the Tribulation will come.