Posts Tagged ‘bankrupt’

Obama And The Unions Haven’t Been Very Good To Detroit (Largest Bankruptcy In American History), Have They?

July 19, 2013

How do you kill a major American city – particularly one where three of the biggest manufacturers in the WORLD are located?

Ask a Democrat.  Because they’re the ones who just succeeded in doing it.

Detroit just went belly up.  And I can smell the rotting carcass of a city that had everything until idiotic liberalism killed the golden goose.

Has Obama been good for Detroit?  Not so much.

Detroit is a city that literally did everything – absolutely EVERYTHING – Obama and the radical leftists demoniacs said we need to do everywhere.  And it was the kind of cancer in Detroit that it will be spreading throughout the rest of America.

That said, we can’t lay all this at Obama’s feet.  Because in spite of the fact that it had the big three auto manufacturers located there, the unions and the union mentality have been poisoning the city for going on sixty years.

Detroit files for bankruptcy protection
Nancy Kaffer, Stephen Henderson and Matt Helms, Detroit Free Press 5:22 p.m. EDT July 18, 2013

DETROIT — The city of Detroit filed for Chapter 9 bankruptcy protection in federal court Thursday, laying the groundwork for a historic effort to bail out a city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.

The bankruptcy filing makes Detroit the largest city in U.S. history to do so.

The filing begins a 30- to 90-day period that will determine whether the city is eligible for Chapter 9 protection and define how many claimants might compete for the limited settlement resources that Detroit has to offer. The bankruptcy petition would seek protection from creditors and unions who are renegotiating $18.5 billion in debt and other liabilities.

FULL COVERAGE: Detroit’s financial crisis STORY: Financial manager: Detroit ‘dysfunctional, wasteful’

“The fiscal realities confronting Detroit have been ignored for too long. I’m making this tough decision so the people of Detroit will have the basic services they deserve and so we can start to put Detroit on a solid financial footing that will allow it to grow and prosper in the future,” said Michigan Gov. Rick Snyder. “This is a difficult step, but the only viable option to address a problem that has been six decades in the making.”

Detroit Emergency Manager Kevyn Orr, who in June released a plan to restructure the city’s debt and obligations that would leave many creditors with much less than they are owed, has warned consistently that if negotiations hit an impasse, he would move quickly to seek bankruptcy protection.

Snyder signed off on the filing in a letter attached to court documents filed Thursday in U.S. Bankruptcy Court in the Eastern District of Michigan. A spokeswoman for Snyder did not immediately return telephone calls Thursday.

“It is clear that the financial emergency in Detroit cannot be successfully addressed outside of such a filing, and it is the only reasonable alternative that is available,” Snyder said in the letter granting his state-required approval. “In other words, the City’s financial emergency cannot be satisfactorily rectified in a reasonable period of time absent this filing.”

Snyder continued: “I have reached the conclusion that this step is necessary after a thorough review of all the available alternatives, and I authorize this necessary step as a last resort to return this great City to financial and civic health for its residents and taxpayers. This decision comes in the wake of 60 years of decline for the city, a period in which reality was often ignored.”

Orr’s spokesman Bill Nowling said, “Pension boards, insurers, it’s clear that if you’re suing us, your response is ‘no.’ We still have other creditors we continue to have meetings with, other stakeholders who are trying to find a solution here, because they recognize that, at the end of the day, we have to have a city that can provide basic services to its 700,000 residents.”

This week, the city’s two pension funds (which have claims to $9.2 billion in unfunded pension and retiree health care liabilities) filed suit in state court to prevent Orr from slashing retiree benefits as part of a bankruptcy restructuring.

Ambac Assurance Guaranty, which insures some of the city’s general obligation bonds, has also objected to Orr’s plan to treat those bonds as “unsecured,” meaning they’re not tied directly to a revenue stream and would receive pennies on the dollar of their value. Ambac, and other creditors, have threatened to file suit.

Sources agree that Orr’s deal with creditors, widely reported to be Bank of America Corp. and UBS AG, to pay a $344-million swap with a $255-million debtor-in-possession loan, is instrumental in the timing of the bankruptcy filing.

The deal gives the city access to $11 million a month in casino tax revenues that Orr has said is key to maintaining city services while negotiations, in or out of bankruptcy court, take their course with other creditors and unions.

Plunkett Cooney bankruptcy lawyer Doug Bernstein, who is not involved in the bankruptcy and is not representing any parties related to it, said Thursday that the filing was critical for the city, given a growing number of legal challenges.

On Monday, an Ingham County Circuit Court judge was scheduled to hold a hearing on the city workers’ and retirees’ challenge to stop the city from filing for bankruptcy protection. The employee groups, and separately the city’s two pension funds in another lawsuit, argue that the governor — who must and has authorized the bankruptcy filing — cannot do so if the filings include plans to reduce pension benefits, because the state’s constitution explicitly protects public pensions. If the state has such plans, it wasn’t immediately presented in the court filing.

Bernstein said preventing the court hearing Monday is probably a key part of the strategy behind a Chapter 9 petition by the city, because a ruling in favor of the employees could put a halt, at least temporarily, to any moves by Orr and Snyder to proceed with a bankruptcy petition. A bankruptcy filing immediately stays all such court proceedings.

STORY: Detroit manager pitches debt recovery plan to creditors

“The stay kicks in as soon as the filing, whether it’s Friday or Monday,” Bernstein said before Thursday’s filing. “The key is taking advantage of the automatic stay. Because of the lawsuit filed by the pension funds and the hearings coming up Monday, it became a factor, so to the extent that (Orr) wanted to continue negotiations with creditors, now the city is forced to” file a Chapter 9 petition.

The 30- to 90-day eligibility fight could be prolonged beyond that time frame if creditors mount a significant challenge to Detroit’s eligibility for bankruptcy. In other communities that have filed for Chapter 9 protection, such fights have extended the process a year or more, including Jefferson County, Ala., and Stockton, Calif., two of the largest municipal bankruptcy filings so far in the United States.

Detroit’s bankruptcy is by far the largest of its kind in U.S. history, in terms of the city’s population of about 700,000 and the amount of its debts and liabilities, which Orr has said could be as high as $20 billion. Because of the stakes involved, and the impact on residents statewide, as well as 30,000 current and retired city workers and Detroit’s ability to stay in business, the case could be precedent setting in the federal judiciary. It also could set an important trajectory for the way troubled cities nationwide settle their financial difficulties.

Bernstein noted that Orr has said repeatedly his office would “negotiate with creditors until and unless we find that the negotiations won’t bear fruit, with the understanding that the city has a limited amount of time” for those talks.

City Council President Pro Tem Andre Spivey said he understood that negotiations Orr was having with creditors weren’t as fruitful has he’d hoped they be, and that he hopes the bankruptcy process will be relatively quick. But he stressed to residents that they needn’t worry about the impact of the filing immediately.

“City services we provide will not be shut down,” Spivey said. “We’ll still be providing services, but the challenge is where we’re going to get to as we go through the bankruptcy process.”

The city has lost more than half of its population over the last 60 years. In 1950, the city was the fifth-largest city in the country with a population of around 1.8 million. Today its population is estimated at just under 700,000.

Who is to blame for this mega-disaster? Is it the United Auto Workers labor union, which has been completely owned by the Democrat Party machine and which funds that machine? Is it the municipal government labor unions, which have been completely owned by the Democrat Party machine and which have funded that machine? Or is it all the Democrat politicians who have rubber stamped the liberal labor union agenda for decades by giving them money and benefits vastly beyond what they were “entitled” to at the expense of the taxpayers???

Detroit was the FOURTH LARGEST CITY IN AMERICA.  It was a city that had everything.

And Barack Obama is determined to impose the fate of Detroit on the rest of America.  And he is succeeding.

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Businesses And Wealthy People Flooding Out Of Liberal California. The Only People Pouring IN Are Lobbyists. And Why Is That?

March 19, 2013

As a native Californian, I laughed when I first came across Murphy’s Laws and saw the one that said, “Everything east of the San Andreas fault will eventually plunge into the Atlantic Ocean.”

It’s not so damn funny now in the age of Obama when everything east of the San Andreas fault IS pretty much plunging into the Atlantic Ocean.  Especially given the fact that liberals dominate California and are plunging that state into its own special form of hell.

Then again, Murphy – never much for looking at the bright side – predicted Obama would become president in one of his darker moods.

Things were not going well for California.  People and businesses were flooding out of California.

It was 2009 when I cited an article which stated an amazing fact regarding the competition for businesses between liberal California and conservative Texas:

Don’t look now, but there’s a new War Between the States under way, and the south is winning. The most dramatic winner is Texas. The cover story of a recent (July 9) issue of The Economist compared California with Texas and implied that the Golden State is falling apart, while the Lone Star State is leading the nation out of the recession.  Then, in a mid-July issue of National Review, Kevin D. Williamson said the nation is “Going Alamo,” with new jobs and businesses tipping southward, draining California, the Midwest, and Northeast of their former economic glory.

One indicator of the trend, according to Williamson, is the cost of renting a U-Haul truck for a one-way move.  From Austin, Texas to San Francisco, California, the cost is $900, while a one-way rental from San Francisco to Austin is $3,000, due to the exodus of trucks from California.

All this makes sense.  We are a mobile nation.  People can move easily enough (especially if they rent), and capital can move even faster.  Capital, jobs, and businesses will go where they are most welcome, while capital leaves places where it is punished by higher taxes and over-regulation.

Why was it 233 percent more expensive to go from Texas to California than it was to go from California to Texas in a U-Haul truck?  Because rats were fleeing the sinking liberal ship of Statism, that’s why.

We found that the most liberal states with the highest tax rates were not only seeing by far and away the most flight as people poured out of states that simply were dead-ends for anybody wanting a damn JOB, but that it was these same liberal states that also had the highest budget deficits.  While states that were run by conservatives had the budget surpluses.

Well, of course, it got even worse for California.  In the 2010 election, California was pretty much the only state to defy the massive and historic Republican landslide as people across the nation voted against liberalism.  California actually gained power for Democrats that year.

Now where are we?

Well, we elected liberal Democrat Jerry Brown.  Jerry Brown hiked taxes.  And businesses increased their rate of flooding out of the state.

I was in a Burke’s Outlet store today.  The store in my town was almost completely empty of merchandise.  I asked the manager what was going on and he said that Burke’s – which has more than 500 stores nationwide – was leaving California entirely.

I asked him why that was and he was brutally honest: because of the new tax hikes.  There were other states that didn’t piss on their businesses the way California pisses on their businesses via the Democrat Party.

Well, I’m sure all of those Burke’s Outlet employees are thrilled to be out of their jobs.  I’m sure those tax hikes on the rich are working out just swell for those poor workers.

You don’t hear this very often, but the Los Angeles Times – in one of their incredibly few honest moments – published the fact that California has a $500 billion deficit because of their giveaways to liberal labor unions:

California’s $500-billion pension time bomb
April 06, 2010|By David Crane

The staggering amount of unfunded debt stands to crowd out funding for many popular programs. Reform will take something sadly lacking in the Legislature: political courage.

The state of California’s real unfunded pension debt clocks in at more than $500 billion, nearly eight times greater than officially reported.

That’s the finding from a study released Monday by Stanford University’s public policy program, confirming a recent report with similar, stunning findings from Northwestern University and the University of Chicago.

We’re doomed in California.  And we deserve to be doomed.  Plunging into the ocean would be about the best outcome we could dream of compared to the economic collapse we’re eventually going to be unable to keep papering over with insanely bogus “math.”

And of course, other liberal states like Illinois (see also here) are just as evil and face just as awful a pension time bomb.

Liberalism is pure evil, and anybody who has a clue knows that.

Fortunately for liberals, most Americans are stunningly ignorant and depraved people.  So it’s working out great for the Democrat Party machine which has succeeded by lying to the most ignorant and stupid populations (such as young people who pretty much are the definition of “stupid”).

Do you want to know who IS flooding in to bankrupt California right now?

Lobbyists, that’s who.  Contrary to Democrats’ lies, we’re seeing a massive increase in lobbying to the tune of a 50% increase over the evil Bush years:

SACRAMENTO — Although many of California’s cities and counties have been struggling financially, putting off road repairs, cutting back library hours and reducing police patrols, there is one way in which they have not held back: hiring Sacramento lobbyists.

Local governments’ spending on advocacy in the Capitol has surged in recent years, topping $96 million during the two-year legislative session that ended last fall — an increase of nearly 50% from a decade ago.

The sum dwarfs the lobbying bills of the state’s largest labor unions, big oil companies and other energy interests combined, according to the California secretary of state’soffice. No sector spends nearly as much trying to influence government in California as government.

And, of course, after all of his lies and slander and demagoguery and bogus promises, Obama turns out to be the worst whore for lobbyists’ money in the history of the republic as he sells out this nation like no one has ever even thought of selling it out before.

Barack Hussein Obama is the Whore-in-Chief.

It’s actually pretty easy to explain what’s happening and why: liberalism is the worship of the State.  God is dead.  The State is God.  And in liberal theology, the State as God sovereignly chooses as our God who wins and who loses, who gets Marxist redistribution and who is forced to pay higher and higher and higher taxes to pay for that Marxist redistribution.  And under ObamaCare, the State even gets to decide who lives and who dies as the death panels Sarah Palin predicted turn out to be all to damn real.

And, of course, there too, the State gets to decide who wins and who loses, as liberals grant waivers to the unions and the big corporations that most helped Obama pass his socialist takeover of what used to be the finest medical system on planet earth.

After Black Friday in 1929, just as shortly after the Titanic hit that iceberg, there was a period when things didn’t seem that bad.  As an example, after that infamous Black Friday in September of 1929, “In early 1930, credit was ample and available at low rates.”  Things were looking up.  Everything seemed swell.

Just like now.

Mind you, during the Great Depression, which FDR prolonged by seven years according to economists, we had plenty of lobbyists whoring for more government influence and government money, too.  When the government is running everything on the one hand and spending money it doesn’t have on the other, there are always dishonest whores waiting to suck it out of corrupt politicians.

All you have to do is worship Obama and take the mark of the beast, and you too can have a fancy job as a lobbyist.  But otherwise, just give up because things are a lot worse than they seem for decent people.

The way of California is the way of Cain.  And Cain is burning in hell for his wickedness just like every liberal will soon be.

Update, 3/20/13: What Democrats are doing in California and everywhere else is a firehose of evil that just keeps pouring out of the left.  I wrote this article the evening of the 18th and published it so it would come out the 19th.  When I woke up the morning of the 19th, what did I learn?  That Democrats are doing in California what socialists were trying to do in Cypruss: steal their citizens’ money by any vile means possible.

In California, Democrats actually tried to retroactively tax small businesses five years back.  California had provided a tax break for small businesses and other entrepreneurs and Democrats are whores who suck other people’s money.  Democrats not only wanted to end the tax break, but they demanded that businesses pay the socialist State BACK every single penny they had received in those tax break – complete with interest and even penalties:

California’s top-end taxpayers — already steamed over a recent hike in the  nation’s highest state income tax — are now fuming over a new $120 million  retroactive tax grab on small business owners.

In December, the state’s tax authority determined that a tax break claimed  over the past few years by 2,500 entrepreneurs and stockholders of  California-based small businesses is no longer valid and sent out notices of  payment.

“How would you feel if you made a decision, which was made four years ago,  (and) you absolutely knew was legally correct and four years later a governing  body came in and said, ‘no, it’s not correct, now you owe us a bunch more money.  And we’re going to charge you interest on money you didn’t even know you owed’,”  Brian Overstreet told Fox News from his office north of San Francisco.

Last year, Overstreet and his fellow investors sold Sagient Research Systems  and immediately reported the sale to the California Franchise Tax Board, the  state’s version of the IRS. “It was good for the shareholders, it was good for  the employees and good for those of us who founded it,” Overstreet said about  the sale of the data mining company. “We paid the tax based on the law at the  time.”

Here’s the question: how would YOU feel, not that you liberals are capable of mustering up that kind of actual empathy or anything.

The vileness of the left simply has no limits and knows no boundaries.

What Liberals Now Openly Admitting About The Radical Green Enviornmentalist ‘Gospel’ Ought To Outrage You.

March 5, 2013

Note: The print edition of the Los Angeles Times’ March 4, 2013 AA1 top front-page story posted below was “Spreading California’s green gospel.”  The fact that this is ultimately an issue of religious belief for the left is thus reflected in my title.

I will bold face the part that admits the one thing that liberals despise the most – the truth – for your perusal:

Gov. Jerry Brown works to spread California’s green doctrine
California is a leader on the environment, but it needs other states — and nations — on board to keep down economic costs.
March 03, 2013|By Anthony York, Los Angeles Times

SACRAMENTO — When Gov. Jerry Brown called on his fellow governors at a conference in Washington last week to embrace a California-style pursuit of cleaner air, he was doing more than reinforcing the state’s image as an environmental trailblazer. He was trying to protect its economy.

Brown needs other states and the federal government to adopt key elements of California’s environmental agenda, such as reaping more energy from renewable sources and capping greenhouse gas emissions, if those programs are to be successful here.

The state’s aggressive pursuit of environmental goals has provided a new impetus for green jobs and federal subsidies. But the programs are costly to businesses, raising the price of their energy and forcing them to upgrade to cleaner manufacturing technologies.

If others don’t go green, California could become an outlier, saddling businesses with costly new power while neighboring states continue to use traditional, cheaper energy, experts say. If the efforts under way in California spread to become the new normal, however, all will benefit from economies of scale.

If more states order power companies to limit their use of fossil fuels, for example, the incentive will grow nationwide for firms to develop cheaper alternatives, leaving California consumers less exposed to spikes in electricity rates.

Likewise, if greenhouse gas caps are widely implemented, the state’s landmark climate change law is more likely to be successful. Cleansing the air is “clearly not something California can do on its own,” said Severin Borenstein, director of the University of California Energy Institute.

The authors of California’s emissions law said as much in its text: The ultimate goal is “encouraging other states, the federal government and other countries to act.”

Brown has vowed to keep pushing to “decarbonize the economy.” He wants to advance the state’s mandate for renewable energy — already the most ambitious in the nation — further so California will receive as much as half its power from renewable sources within 20 years. In the courts, his administration is defending a state law, challenged by some oil and ethanol companies, that requires gasoline to contain 10% less carbon by the end of the decade.

In Washington, Brown pushed for others to join in. “We can’t do it alone,” he told state leaders gathered for the National Governors Assn. meeting. “We need other states…. We need China. We need India.”

You see, contrary to what “experts” have really been saying all along, liberals assured us that their “alternative” energy sources weren’t any more expensive than the “traditional” sources of fossil fuel that they despise so much and have tried so hard to literally criminalize.

Green energies are STUPIDLY more expensive than fossil fuels.  Period.  Thank you for pointing out at least one true thing in your paper today.  And wait, they revealed an even bigger truth: they also pointed out that if everybody else in the world doesn’t agree with us that the emperor looks incredible in that brilliant outfit and of course he’s not parading around in his underpants, the entire liberal green energy boondoggle will fail BECAUSE OUR COMPETITORS AREN’T AS STUPID AS OUR LIBERALS ARE.

Californians are paying more for their electricity than anyone in America with the exception of the also-liberally dominated Hawaii and the Northeastern region of the country.  North Dakota – a state that doesn’t criminalize fossil fuels – has residential rates of 7.97 cents per kilowatt hour, as opposed to California’s nearly double 15.3 cents.  It’s not that simple, obviously, given regional phenomena, but that’s an in-your-face fact.

As California dives in to the incredibly inefficient and expensive green energies by criminalizing fossil fuels and tax-funding their green energy boondoggles, our rates our going to skyrocket.  And even MORE actually-born-in-America citizens are going to flee this insanely stupid people’s republic.

Jerry Brown and California Democrats did what Obama is doing to the rest of America: they have bet their economy’s future on green energy.  And either every other state does it so it doesn’t make California’s investment look stupid and evil, or California goes bankrupt.  And as California goes, so goes the nation.

Either the entire world – including China and India which are actually building an average of four coal plants every single DAY in their countries rather than “going green” – goes Obama-stupid green worship – or America goes bankrupt.  Those are your choices now.

Liberals gambled everything on this one – and the facts show that they are going to lose our bet for us.  Obama made a bet, America got bit.  Bit by a poisonous snake that is going to kill us.

It’s amazing.  Even the Europeans who thought of this incredibly stupid green energy garbage in the first place are now beginning to flee this stupidity even as under Obama and Democrats we’re diving into it like no one ever has.  The Europe that embraced this crap is bankrupt because of it and closer to complete fiscal collapse than we are only because we were never this stupid until now.

Spain led Europe in diving into green energy.  It went bankrupt.  And now Spain is one of the most bankrupt nations in the EU.

And that’s the model we’re following.  Seriously.

One of the big reasons that our manufacturing fled to China is because the energy needed to manufacture something is dirt cheap.  They are leading in the manufacturing of all the green energy gizmos that liberals promised would create American jobs because of their energy cost and labor cost and cost of doing business are so much cheaper.  Chinese aren’t “pro-green” in the sense that they’re ever going to require their people to use it; they’re “pro-stupid” in the sense that they will build whatever stupid Americans want so they can take our jobs and our money from us.  If Americans want to bankrupt themselves with idiotic green energy, China will be only too happy to build our suicide machines for us and create more jobs for China in the process.

I mentioned coal and the fact that that’s the energy source that China is using to economically bury us with our own stupidity.

Nearly half – 48.2 percent – of the electricity generated in America came from coal when Obama took office.  And what was it that Obama said would happen to these producers of half of the nation’s electricity?  He promised to bankrupt them.

Please understand, we voted for our suicide.  Either we knew what we were doing and willingly chose suicide in voting for Obama, or we were so stupid that we proved ourselves unfit to survive by any Darwinian standard and voted for suicide by proxy.  But we voted for national suicide in 2008 and we confirmed that decision in 2012.

It doesn’t matter that coal is an incredibly cheap and efficient power source.  It doesn’t matter if America has more coal by far and away than any other nation on earth.  It doesn’t matter if bankrupting coal production is a synonym for bankrupting America.  We’re going to bankrupt coal producers and we’re going to bait and switch America to our green energy.

It is a truly amazing fact that three of your very most important elements to businesses – the cost of energy, the cost of labor, the cost of complying with government corruption and regulation – are THE most important things any employer bases business decisions on.  Liberals make all three plus many other costs of doing business MASSIVELY more expensive.  And then liberals are constantly shocked and appalled that businesses would respond to the middle finger that Democrats just gave them by taking their operations somewhere else.

So now you understand, as even acknowledged by liberalism: either the whole world decides to quit using cheap, abundant energy and chooses instead to only use expensive, production-intensive green energy boondoggles, or else America is going to go broke on the bet just as Europe went broke on pretty much the same bet.

But don’t worry about it, liberals.  The one thing you slandering liars know how to do is blame other people for your disasters.  You’ll get away with it again just like you got away with it in 2008.

Because the beast is coming.  And evil must blossom like a corpse flower to make straight in the wilderness a highway for their god.

You secular humanist liberals will be able to take his mark soon.

Why I’m Getting Out Of Politics After This Election And What I Plan To Do With This Blog Beginning On November 7

October 3, 2012

One way or another, I am going to get out of day-to-day political blogging after this election.

I’ve said it before.  All the way back on April 29, 2009, I said to someone in replying to a comment:

I never intended to remain in political blogging this long.  I thought I’d blog through the election, do my best to prevent this country from choosing this terrible man, and stop.

But it’s just been one outrage piled on top of another – so many you literally can’t cover them all.  And I demand that there be a record of these outrages.

In April of this year, I wrote:

Whether Obama wins or whether Romney wins, I’m getting out of politics after this election. I’ll continue to blog, but I’ll be done with politics.

If Obama wins, frankly Obama’s God damn America will deserve whatever hell it descends into. I will have done the best I could do trying to warn people that Obama is leading us to hell, and if he gets re-elected I will be done with warnings. I’ll warn you while you’re pouring gasoline on yourself; I’ll warn you when you strike a match; but when you set yourself on fire you’re on your own. If Romney wins, I’m frankly just not going to carry water for him. I’ll vote for him as the lesser of two evils, but he’s not exactly the guy I’m going to spend the next four years carrying water for.

So I hope no one thinks that this announcement implies that I think Obama’s going to win and can’t face liberals anymore and blah, blah, blah.

Basically, my reasoning is this: if Obama is reelected, I did everything I could to try to warn you fools.  And if a nation is foolish enough to reelect a president with the record of failure that Barack Obama has now accumulated, well, that is a nation that is immune to wisdom or warning and my conscience is clean as I shake the dust of the coming economic implosion off my feet and ride off into the sunset.  On the other hand, if Mitt Romney is elected, well, his entire history (contrary to liberals’ demonization of him) is that of a moderate RINO and while he’s got the singular virtue of being “far better than Obama,” he’s not someone I want to devote thousands of hours carrying water for.  If Sarah Palin were president, if Herman Cain were president, well, maybe I’d buckle the armor back on and keep fighting for them.

There is a personal cost for an evangelical Christian conservative to dive into political blogging.  Politics is by its very nature an angry place.  It very quickly becomes mud wrestling.  And it was simply never a place that I wanted to spend my life fighting in.  I certainly don’t want to keep dealing with fools and I certainly don’t want to keep screaming at people every day.

What got me into blogging to begin with?  I saw those Jeremiah Wright sermon tapes – “No, no, no!  NOT God bless America!  God DAMN America!” – and I knew that Barack Obama was truly an evil man to have spent 23 years of his life in that Marxist, racist, anti-American hellhole and then climbing out of that toxic nest of demons and dusting himself off only when it became convenient to his political charade.  I had a vision of America under the leadership of this evil man; and sadly enough it looked very much like what I now see all around me today.  In some ways it’s not as terrible as I feared it would be, and in other ways it’s five times worse than I feared it would be.

I got into political blogging with the intent of 1) preserving a record of what Obama did to America, because the mainstream media refuses to do it and quickly purges the few things they DO print; 2) to try to explain both liberalism and conservatism so that people can see why the former is depraved and the latter is the best worldview for a moral and free people; and 3) to provide arguments and document the facts as I present them to try to help those who have their own arguments with their own circles of influence.

Let me just say that the future does not look bright for America, even if Romney wins.  Yes, we have a $16 trillion debt, and yes, Obama has piled on $6 trillion of that debt in only four years after the hypocrite demonized Bush for adding $4 trillion over eight years.  But that isn’t anything close to our real debt.  Our real debt is over $222 trillion and skyrocketing.

But even THAT isn’t our real debt, because our real debt is that more-than-$222 trillion-and-skyrocketing figure PLUS the debt of our states.  California alone has an unfunded liberal union pension gap of $500 billion.  And Illinois alone has an unfunded liberal union pension gap of $210 billion.  And we are seeing deadbeat states that cannot pay their debts and we are seeing cities going bankrupt.

Our real debt would be impossible to estimate even if all the liberal politicians who have bankrupted their jurisdictions at every level would honestly account for what they did.  And rest assured they never will until after it’s too late.

The Bible tells us in Revelation chapter six that the beast, the Antichrist, is coming.  We find that a global economic collapse is coming; we find that in the midst of this ghastly global landscape there will be famine and plagues and war and mass death.  And what we literally see is this big government false messiah called “the beast” riding in on a white horse to save the day.  And the world will literally worship him for his “deliverance” as he steps in with one plan of action after another.  They will so worship him that they will allow him to take over the world political system and the economic activity of every single human being on earth.

It is amazing how badly things are going in America and how little reporting is being done on how badly things are going.  The labor participation rate has plummeted every single year under Obama and is now at a more than 31-year low (i.e., worse than it EVER was under Bush).  In fact, if we measured unemployment by the labor participation rate that Bush handed off to Obama, our unemployment rate would be 11.6% now rather than dropping to 8.1% because we refuse to measure the millions of discouraged workers who have abandoned hope of finding a job.  For every job Obama “adds,” there are FOUR workers who drop out of the workforce.  There are 4 million fewer jobs than there were when Obama took office, in spite of the fact that 4 million Americans turn 18 and thus “age in” to the work force every single year.  Last year new start-up businesses were at the lowest level EVER measured in the 25-year history of recording that statistic; this year new start-up businesses plunged by another 24%.  And the median household income has plunged 8.2% under Obama’s failed leadership.  And, amazingly, household incomes have dropped TWICE as much under Obama as they did during the 2008 recession, just to document what a horrible job Obama has done since.  And with statistics such as the 13.2% plunge in durable goods in one month – which is the biggest drop since January 2009 – there is no reason to think things are going to get better under Obama’s policies.

If Obama is reelected, we are going to go on a ride to hell as a nation:

Only there will be no going back up this time.

And yes, if you want to give the above picture a racial element, it is also true that blacks and Hispanics and college graduates and young people and women and those groups that have most supported Obama have fared the WORST under his failed policies.  It’s almost as if Obama is saying, “I hurt you bad these last four years; vote for me again and I will finish you off and kill you dead in my next four years.”  And his supporters are saying, “Thank you, messiah!  It’s what we deserve!”

If the media fairly and accurately reported the truth, Obama wouldn’t have a chance.  But our media has descended into shocking levels of dishonest propaganda.  And bad people always choose to believe lies.  And if there are more bad people than good people now in America, we will vote for hell and we will get the hell that we voted for once and for all this time.

Things are also going terribly for Europe.  If America goes, Europe goes, and vice versa.

And if you look at China, things aren’t going nearly as well (see also here) as the false facade that they – like the Obama media – have plastered over their “news” coverage.  And if China goes down hill, well, whose going to keep buying our increasingly worthless debt???

This world has chosen socialism; and socialism is a cancer.  It is a cancer on morality and it is a cancer on economic health.  When people say as a nation that they deserve other people’s money and that they are willing to attack job creators to rob them, you get fewer and fewer jobs and all that really gets “redistributed” is pain and misery.

So the beast is coming.  As I’ve said over and over and over again on this blog.

If Obama is president on January 20, 2013, we’re going to get the beast in short order; if Romney is president, we may have a few more years as he slows (but does not stop) the collapse.

Mitt Romney may well win.  But what has he shown in his past that indicates that he will stand up and fight for the radical changes this nation will need to survive?  Obviously, I hope I’m wrong in my estimation of Romney; I hope that he wins and that his is the “second Reagan presidency” we so desperately need.  And as I’ve said before I would crawl out of my death-bed across broken glass to vote for Mitt Romney and vote OUT Obama.

America could very well collapse in the next few years.  When it happens it will happen fast; “economic experts” will assure the people on the mainstream media that everything will be fine the evening before, and then the people will wake up to find out that their country has literally collapsed under their feet while they slept.  But when I consider the structural, fiscal, economic realities facing America, I simply cannot understand how it could possibly survive for 20 years given our pathological refusal to rise up and solve our problems in the powerful manner that we need in order to have any chance at long-term national survival.

I believe that a true conservative president and a true conservative Congress could stop the collapse by having the courage to ignore the media lies and doing what is necessary to save America.  But I also believe that American people are now past the point where they are willing to do the right thing even to save their own lives.  Instead, we’ll keep voting ourselves more benefits until we reach the collapse-stage that Europe is in, and then we’ll riot over the necessary austerity measures that would take away some of our benefits.  Until the depression when nation after nation collapses into total anarchy as Revelation chapter 6 describes and the beast comes riding in.

When the beast takes over the government, he will be a man who seems to have all the answers.  His policies will seem to take the world back from the brink that failed leaders like Obama brought us to.  But in just a few years, the Antichrist will go from promising a Utopia to delivering a literal hell on earth.  And when the REAL Messiah, Jesus Christ, returns as King of kings and as Lord of lords as the Bible describes, it will be to prevent the planet from literally destroying itself.

That’s the direction I will be taking this blog in.  While I will continue to interact with current political events, it will largely be as part of an effort to inform readers about the message of Bible prophecy and how the events we keep seeing are bringing the world closer and closer to the last days scenario so accurately foretold in Scripture.  In addition to that, I will also simply be returning more to my Christian theology roots and writing about the faith.

As a student and teacher of Bible prophecy, I DO believe in what is frequently derided as “newspaper prophecy.”  That is, I believe that when the events described in Bible prophecy are fulfilled, they will be fulfilled in a way that a person at the time would read in a good newspaper.  The thing is, if you don’t understand the Bible, and economics, and politics, and military issues, you will most likely use the wrong newspaper and thus get your understanding of prophecy wrong.  As a simple illustration of what I’m trying to convey here, consider that many people believed during World War I and World War II that they were living in the last days when (as we obviously know now) they weren’t.  On the one hand, it was true that somebody during those periods could have read their Bible and read their newspapers, and seen things in their newspapers that very much seemed to be described in their Bibles.  But on the other hand, there was one singularly critical event that had not yet happened – the rebirth of the state of Israel as prophesied in Ezekiel 37 – that should have told believers that, no, they were not yet in the last days.  The Tribulation described in Revelation begins with the nation of Israel signing a 7-Year peace covenant with the Antichrist.  And since Israel did not yet exist during World War I or World War II, a biblically-understanding Christian could know that as bad as things were, we were not yet in the last days.  You need to be able to understand your Bible and match it to the what is going on in the world to accurately understand where we are in Bible prophecy.

At the same time, you need to be able to understand what is going on in the world and then match it to the Bible to understand where we are in Bible prophecy, as well.  For example, Christian scholar Dr. Grant Jeffrey wrote a book titled, Final Warning: Economic Collapse and the Coming World Government.  Chapter 14 of that book was titled, “The Coming Economic Collapse.”  And writing back in 1995, the man just nailed the 2008 collapse – which is by no means finished with us.  He understood that the dangerous derivatives market and what we were doing with mortgages could trigger a massive collapse just as occurred 13 years later and which is still undermining the economy today (unless you think we’re free and clear and there’s nothing but blue economic skies now).

The world is now a house of cards that could collapse at any time more than it has ever been.  Weapons of mass destruction, modern technology and incredibly complex financial trading did not make the world less like the world described in Revelation; it made it MORE like the world described in Revelation.  Think about the mark of the beast as just one example of what I’m talking about.  The beast is coming and he is coming soon.  And I plan to write a lot more about what the Bible has to say about the last days and why I believe we are in them after this election.

I’m sure I’ll lose some readers as I take this blog in a different direction.  Maybe I’ll lose a lot of readers.  Obviously, I hope I’ll gain other readers, but my primary goal is simply to stand up for my faith and for what I believe and to be true to the vision that I believe God gave me.

Frightening Article About Impending Economic Collapse – The Hoofbeats Of The 4 Horsemen Of The Apopalypse Are Beginning To Echo

August 21, 2012

It’s not just Europe that is on the brink.  America’s true fiscal gap is a beyond completely insane $222 TRILLION and if Europe doesn’t fall into the fiery pit of hell first, we will.  And things are not going at all well in China, either.

But read this about Europe and try having a good sleep tonight.  Because one thing is for sure: if Europe collapses, the Greatest Depression will start here the same day.

Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming

Are you willing to bet against three of the wealthiest men in the entire world? Jacob Rothschild recently bet approximately 200 million dollars that the euro will go down. Billionaire hedge fund manager John Paulson made somewhere around 20 billion dollars betting against the U.S. housing market during the last financial crisis, and now he has made huge bets that the euro will go down and that the price of gold will go up. And as I wrote about in my last article, George Soros put approximately 130 million more dollars into gold last quarter. So will the euro plummet like a rock? Will the price of gold absolutely soar? Well, if a massive financial disaster does occur both of those two things are likely to happen. The European economy is becoming more unstable with each passing day, and investors all over the globe are looking for safe places to put their money. The mainstream media keeps telling us that everything is going to be okay, but the global elite are sending us a much, much different message by their actions. Certainly Rothschild, Paulson and Soros know about things happening in the financial world that the rest of us don’t. The fact that they are all behaving in a consistent manner right now should be alarming for all of us.

Let’s start with Jacob Rothschild. Apparently he believes that the euro is headed for quite a tumble. The following is from a recent CNBC article….

You know the euro is in deep water when a doyen of the banking industry, Lord Jacob Rothschild takes a £130 million ($200 million) bet against it.

Okay, but the euro has already been falling dramatically. In mid-2011, the EUR/USD was above the 1.40 mark, and right now it is at about 1.23.

Does it really have that much more that it can fall?

If the eurozone ends up breaking apart it sure does.

If there is a Greek default, or if Germany leaves the euro, or if a new currency comes along to replace the euro those currently betting against it will end up looking like geniuses.

Another big name in the financial world that is betting against the euro right now is John Paulson. The following is from a recent Der Spiegel article….

One of these warriors is John Paulson. The hedge fund manager once made billions by betting on a collapse of the American real estate market. Not surprisingly, the financial world sat up and took notice when Paulson, who is now widely despised in America as a crisis profiteer, announced in the spring that he would bet on a collapse of the euro.

And as I noted in my last article, Paulson has also been putting billions of dollars into gold.

So just what are Rothschild and Paulson anticipating?

Could we be on the verge of a massive financial collapse in Europe?

According to the Der Spiegel article mentioned above, a lot of investors seem to be preparing for such a possibility right now….

Banks, companies and investors are preparing themselves for a collapse of the euro. Cross-border bank lending is falling, asset managers are shunning Europe and money is flowing into German real estate and bonds. The euro remains stable against the dollar because America has debt problems too. But unlike the euro, the dollar’s structure isn’t in doubt.

The financial world is starting to wake up to the fact that the globe is absolutely drowning in debt and it is not really good to be holding fiat currencies when a debt crisis erupts.

When men like John Paulson and George Soros start pouring huge amounts of money into gold, it is time to start becoming alarmed about the state of the global financial system.

The amount of money that these men are investing in gold is staggering….

There was also news last week in an SEC filing that both George Soros and John Paulson had increased their investment in SPDR Gold Trust, the world’s largest publicly traded physical gold exchange traded fund (ETF).

Mr Soros upped his stake in the ETF to 884,400 shares from 319,550 and Mr Paulson bought 4.53m shares, bringing his stake to 21.3m.

At the current price of about $156 a share, these are new investments of about $88m of Mr Soros’ cash and more than $700m from Mr Paulson’s funds. These are significant positions.

And the central banks of the world are certainly buying gold at an unprecedented rate as well. According to the World Gold Council, the central banks of the world added 157.5 metric tons of gold last quarter. That was the biggest move into gold by the central banks of the globe that we have seen in modern financial history.

But that might just be the beginning.

According to a recent Marketwatch article, there are persistent rumors that China has plans to buy thousands of metric tons of gold….

Within the gold market, there is unconfirmed speculation that China plans to buy up to at least 5,000 to 6,000 metric tons of gold and that it will start to buy during this year, according to Kevin Kerr, president of Kerr Trading International.

If China buys this much gold, that would exceed annual, global production of gold, he said. “We do not have enough gold for China to buy that much, and it will take China time to purchase this amount of gold.”

So what comes next?

Nobody is quite sure.

Another major financial crisis could erupt in Europe at any moment.

A major war in the Middle East could start literally at any time.

Renowned investor Jim Rogers believes that things are really going to get “bad after the next election“.

Others believe that the action could start even sooner than that.

The truth is that even though we have not seen a “Lehman Brothers moment” yet, things in Europe just continue to get progressively worse. The following is from a recent article by Mark E. Grant….

Whether you turn your attention to Greece, Spain, Italy, Portugal or even Ireland; it is getting worse. Nowhere on the Continent are things improving and even in France and Germany the financial strains are beginning to show. It is not a question of Euro-bear or Euro-bull; it is just the numbers as they come rolling out month after month.

There is a growing realization in Europe that the euro simply does not work. Italy is absolutely drowning in debt, the Spanish economy has basically descended into a depression, and Greece has been experiencing depression-like conditions for years at this point.

The euro is doomed. The only question is who is going to blink first.

Nobody wants to be the first to leave the euro. There are rumblings that it could actually be Finland that leaves the euro first, and that would please Germany just fine because they don’t want to look like the bad guys in all of this.

But that doesn’t mean that Germany won’t eventually pull the trigger if nobody else does. The German public is sick and tired of bailing out the weak sisters of southern Europe, and at this point it looks like it would take perpetual bailouts just to keep the euro together.

And recently there have been lots of little signs that Germany is starting to move slowly toward the exit doors.

In fact, I found it quite interesting that a giant euro sculpture was recently removed from the Frankfurt International Airport….

A massive € sculpture (identical to the one in front of the European Central Bank) was dismantled and removed from the Frankfurt International Airport in Germany Thursday.

The official explanation is ‘the plastic parts are getting weak after 11 years and the terminal needed the space‘.

Does € sculpture’s removal from the Frankfurt Airport indicate Germany is preparing for a surprise return to the Deutsche Mark?

Sure that might just be a coincidence, but it also could be a harbinger of things to come.

Sadly, most average people living in North America and Europe have absolutely no idea what is coming. Most of them just want to be able to get up in the morning and go to work and pay the bills and take care of their families.

Unfortunately, millions upon millions of those hard working individuals are in for a very rude awakening.

A lot of people are about to have their current lifestyles totally turned upside down.

But it doesn’t have to be all bad.

In fact, I found it very interesting to read about how some young people are responding to the depression in Greece….

In the spring of 2010, just as the Greek government was embarking on some of its harshest austerity measures, 29-year-old Apostolos Sianos packed in his well-paid job as a website designer, gave up his Athens apartment and walked away from modern civilisation.

In the foothills of Mount Telaithrion on the Greek island of Evia, Mr Sianos and three other like-minded Athenians set up an eco-community.

The idea was to live in an entirely sustainable way, free from the ties of money and cut off from the national electricity grid.

The group sleeps communally in yurts they have built themselves, they grow their own food and exchange the surplus in the nearest village for any necessities they cannot produce.

I think there is a lesson to be learned there.

When the system fails, it is going to be important to be able to live independently of the system.

Governments and big banks all over the world have been rapidly preparing for the coming financial collapse.

Perhaps the rest of us should be too.

If you can believe it, 77 percent of all Americans live paycheck to paycheck at least some of the time.

If another major economic crisis comes along, many of those people are going to be totally wiped out.

And there are already signs that the U.S. economy is basically on life support at this point.

Just look at the velocity of money.

In an economy that is growing and healthy, money tends to circulate very, very quickly.

But when an economy is sick, money tends to circulate very slowly.

And that is exactly what is happening right now. In fact, the velocity of money is currently at the lowest level in modern U.S. history….

For much more discussion on this, please check out this article.

This is exactly what happened back in the 1930s. The velocity of money absolutely plummeted. When people are scared, credit is tight and times are hard, money does not exchange hands as rapidly.

But this is just the beginning.

What we are experiencing right now is rip-roaring prosperity compared to what is coming.

Jacob Rothschild, John Paulson and George Soros are preparing themselves for the tremendous chaos that is coming.

Are you getting prepared?

I found this comment to this article on FreeRepublic rather chilling as well:

Velocity Of Money is the frequency with which a unit of money is spent on new goods and services. It is a far better indicator of economic activity than GDP, consumer prices, the stock market, or sales of men’s underwear (which Greenspan was fond of ogling). In a healthy economy, the same dollar is collected as payment and subsequently spent many times over. In a depression, the velocity of money goes catatonic. Velocity of money is calculated by simply dividing GDP by a given money supply. This VoM chart using monetary base should end any discussion of what ”this” is and whether or not anybody should be using the word “recovery” with a straight face:

I’ve said it over and over and I’ll say it again: the beast is coming.  Revelation chapter six prophesies the world in the last days in total meltdown: economic catastrophe, wars upon wars, famines and grim diseases.  And into that maelstrom comes the beast – the Antichrist, the ultimate false messiah who will make the false messiah Obama look like a fart in a hurricane – riding in on his white horse to save the day.

Why will the world worship the beast and literally take his mark upon their right hands or foreheads in act of economic worship?  Because he will enter the scene during a time of complete catastrophe and chaos and despair and seem to have all the answers.  But it will be not only under but because of his leadership that his promised Utopia degenerates into complete hell on earth in only seven short years.

Paul Ryan Versus Barack Obama On Medicare (It Aint Paul Ryan Who Already Stole $716 Billion From Medicare, People)

August 13, 2012

If Barack Obama wins in November, I just saw how it will happen:

While searching for this article as a man who has written about this subject before, I did a Yahoo search with the following keywords: Paul Ryan Medicare budget doesn’t take benefits from people over 55.  I chose those keywords because in point of fact it is absolutely TRUE that Paul Ryan’s budget not only does not take one penny of benefits from those who are already ON Medicare, but from those who are ten years away from retirement.

All the articles on the first page that Yahoo fed me were biased toward the left. That was no accident. If you are looking for the truth, you can still find it in America; but you have to sort through a lot of lies from the mainstream media in order to find it.  Mark Twain famously quipped that a lie can get halfway around the world before the truth could put its boots on.  The mainstream media has done everything it could to HIDE the truth’s boots.  But the lies are like paved superhighways.

Too many Americans believe things that are simply blatantly false because they’re too ignorant, too lazy and too apathetic to take the time to search for the truth that the left is trying to keep the people from seeing.

I’m looking for specific facts that my keywords plainly describe, but the mainstream media and internet search engines like pro-liberal Google and Yahoo say, “No!  You can’t see those!  You have to look through all of these lies first, and then good luck finding what you’re looking for while we try to prevent you from succeeding.”

Contrary to the false and frankly demonic ad featuring a Paul Ryan-lookalike pushing an elderly woman in a wheelchair off a cliff, Paul Ryan’s plan does not affect people who are 55 or older.  They can keep their current plan exactly as it is.  In describing his proposal, Ryan puts it in black and white:

Let me be clear, nobody age 55 or older will see any changes to the way Medicare currently operates.

Democrats are not merely being dishonest in the way they are misrepresenting the Ryan plan for Medicare; they are being demonically dishonest.

Do you want to know who is ripping off Medicare for people RIGHT NOW?  Barack Obama is ripping off Medicare.  The Democrat Party is ripping off Medicare – to the tune of $716 BILLION from a Medicare program that is already massively threatened by bankruptcy:

Last week, a new Congressional Budget Office (CBO) report updated the amount of money Obamacare robs out of Medicare from $500 billion to a whopping $716 billion between 2013 and 2022.

According to the CBO, the payment cuts in Medicare include:

  • A $260 billion payment cut for hospital services.
  • A $39 billion payment cut for skilled nursing services.
  • A $17 billion payment cut for hospice services.
  • A $66 billion payment cut for home health services.
  • A $33 billion payment cut for all other services.
  • A $156 billion cut in payment rates in Medicare Advantage (MA); $156 billion is before considering interactions with other provisions. The House Ways and Means Committee was able to include interactions with other provisions, estimating the cuts to MA to be even higher, coming in at $308 billion.
  • $56 billion in cuts for disproportionate share hospital (DSH) payments.* DSH payments go to hospitals that serve a large number of low-income patients.
  • $114 billion in other provisions pertaining to Medicare, Medicaid, and CHIP* (does not include coverage-related provisions).

*Subtract $25 billion total between DSH payments and other provisions for spending that was cut from Medicaid and CHIP.

In total, Obamacare raids Medicare by $716 billion from 2013 to 2022. Despite Medicare facing a 75-year unfunded obligation of $37 trillion, Obamacare uses the savings from the cuts to pay for other provisions in Obamacare, not to help shore up Medicare’s finances.

Medicare is on the verge of bankruptcy, not in a thousand years or even fifty years; but in FOUR YEARS.  It will go broke by 2016 on its current path if you understand that Obama took money out of the program but is disingenuously counting that money twice as if you can Rob Peter to pay Paul but somehow Peter and Paul both have all of Peter’s money.

You need to realize just how much dishonesty is going on in the government bean-counting: our real debt isn’t the $15.9 trillion you hear about; our real debt is $222 trillion.  It went up $11 trillion from last year.  And it is going to keep going up until America implodes into chaos and anarchy.

We are facing disaster.  We’ve got to start making cuts or Medicare along with our entire government system will financially implode.

Democrats are demonizing ANY change in Medicare.  And in so doing Democrats are demanding that Medicare go bankrupt and that senior citizens die deaths of medical neglect.

Paul Ryan is saying we’ve GOT to make changes in this program in order to save the Medicare system.  Please stop letting the media and the Democrat Party lie to you and read what Paul Ryan is actually saying.

Paul Ryan offers a reform of Medicare that recognizes that Medicare does NOT drive down medical costs; rather, it is driving medical costs UP by contributing to medical price-fixing.  Medicare and Medicaid drove up medical costs by massively subsidizing those who don’t pay and pushing that increasingly costlier burden onto those who do

Ryan’s Medicare reform plan is demonized as a “voucher system.”  It is not.  But you should understand that Ryan is trying to allow people to take better advantage of a fact that neither the government nor the insurance companies want you to know about: that paying cash provides the best discount of ALL for medical care; and that if people were allowed to be able to make their own choices and negotiate their own prices for care, patients would pay LESS even as the doctors and medical professionals were able to earn MORE:

Here is an article from the Los Angeles Times – hardly a conservative think tank, lefties – that underscores this simple FACT:

Many hospitals, doctors offer cash discount for medical bills
The lowest price is usually available only if patients don’t use their health insurance. In one case, blood tests that cost an insured patient $415 would have been $95 in cash.
May 27, 2012|By Chad Terhune

A Long Beach hospital charged Jo Ann Snyder $6,707 for a CT scan of her abdomen and pelvis after colon surgery. But because she had health insurance with Blue Shield of California, her share was much less: $2,336.

 Then Snyder tripped across one of the little-known secrets of healthcare: If she hadn’t used her insurance, her bill would have been even lower, just $1,054.

“I couldn’t believe it,” said Snyder, a 57-year-old hair salon manager. “I was really upset that I got charged so much and Blue Shield allowed that. You expect them to work harder for you and negotiate a better deal.”

 Unknown to most consumers, many hospitals and physicians offer steep discounts for cash-paying patients regardless of income. But there’s a catch: Typically you can get the lowest price only if you don’t use your health insurance.

 That disparity in pricing is coming under fire from people like Snyder, who say it’s unfair for patients who pay hefty insurance premiums and deductibles to be penalized with higher rates for treatment.

 The difference in price can be stunning. Los Alamitos Medical Center, for instance, lists a CT scan of the abdomen on a state website for $4,423. Blue Shield says its negotiated rate at the hospital is about $2,400.

 When The Times called for a cash price, the hospital said it was $250.

 “It frustrates people because there’s no correlation between what things cost and what is charged,” said Paul Keckley, executive director of the Deloitte Center for Health Solutions, a research arm of the accounting firm. “It changes the game when healthcare’s secrets aren’t so secret.”

 Snyder’s experience is hardly unique. In addition to Los Alamitos, The Times contacted seven other hospitals across Southern California, and nearly all had similar disparities between what a patient would pay through an insurer and the cash price offered for a common CT, or computed tomography, scan, which provides a more detailed image than an X-ray.

 Health insurance still offers substantial value for consumers by providing preventive care at no cost and offering protection from major medical bills that could bankrupt most families.

 But cash prices — typically available for hundreds of common outpatient services and tests — have a real appeal to millions of consumers who are on the hook for a growing share of their medical costs as employers and insurers cut back on coverage and push more high-deductible plans.

 Some doctors are trying to spread the word about cash prices and they’re urging patients to pressure hospitals and insurers to offer a better deal.

[…]

In the view of Robert Berenson, a senior fellow at the Urban Institute and vice chairman of the Medicare Payment Advisory Commission, big hospitals are exerting their market power to charge ever-increasing rates and major insurers go along with it because they can pass along the costs to employers and consumers. Insurance industry officials say that health plans negotiate the lowest prices they can, but that they also need to include prominent hospitals favored by customers in the network, and those institutions can command higher prices.

 Hospital executives say they don’t like to charge insured patients more, but say that’s a result of the country’s broken healthcare system.

 At Long Beach Memorial Medical Center, where Snyder got her CT scan, the hospital’s chief financial officer said insured patients like her pay more to subsidize the uncompensated care given to the uninsured and low reimbursements for Medicaid patients.

 “We end up being forced to charge a premium to health plans to make the books balance,” said John Bishop, the hospital’s finance chief. “It’s a backdoor tax on employers and consumers.”

 Those higher prices charged by hospitals and other medical providers drove up healthcare spending at double the rate of inflation during the recession even as patients used less medical care, according to a new study by the Health Care Cost Institute.

 Snyder, the salon manager, stumbled across the two-tier system accidentally. She has filed suit against her insurer, saying she hopes her case will lead to more disclosure of the price options, and ultimately lower treatment costs for patients.

 The Long Beach woman said she sought treatment in 2009 for a pain in her abdomen. First her doctor ordered a CT scan of her abdomen and pelvis at Liberty Pacific Medical Imaging, an independent facility near Long Beach Memorial.

 She got approval from Blue Shield, and she paid the negotiated rate of $660. Snyder underwent surgery on her colon, and her doctor ordered another CT scan in January 2010 because she felt lingering pain.

 This time, her surgeon referred her to the hospital’s imaging center. Snyder said she assumed her bill would be about the same because it was the identical test. Instead, Blue Shield’s rate with Long Beach Memorial was $3,497 and the insurer told Snyder she owed $2,336, records show.

 Incensed by having to pay nearly four times as much for the second scan, she started searching for an explanation. That’s when she discovered that the hospital’s cash price was less than half what she owed through her insurance.

 In a complaint filed last month in Orange County Superior Court, Snyder accused Blue Shield of unfair business practices, breach of good faith and misrepresentation over her medical bills. The suit seeks class-action status on behalf of other Blue Shield customers.

 A spokesman for Blue Shield said the case has no merit and the nonprofit insurer negotiates the most favorable rates it can.

 In a court filing, Blue Shield said it “cannot promise or represent that there could not be providers who will charge someone less out-of-pocket cost for a service than she would pay if the Blue Shield contract rate applies.”

 Snyder said she went back to work last year at a hair salon in Seal Beach, partly to help pay her insurance premiums of $700 a month.

 “It kills me that I’m paying that much in premiums,” she said, “and it’s better to pay cash out of my own pocket.”

 Health-policy experts say the growing awareness of cash prices should accelerate the trend toward increased disclosure of all types of medical costs. But entrenched interests are likely to resist.

 “The insiders in the healthcare industry don’t want to lose control over this information,” Keckley said. “But price transparency is inevitable.”

So even if you want to demonize the Ryan Plan as a “voucher system” as DNC chair Debbie Wasserman Schultz does, please understand that if you had a damn voucher, you could save massively over what the corrupt boondoggle system the Democrats created back in 1965 is charging today.

This is crucial for you to understand: a liberal will read this article and say that it’s the insurance companies’ fault and that Republicans are in the pockets of the insurance companies.  That is a LIE.  Republicans have been trying to reform the health care system by allowing insurance companies to offer plans across state lines.  Here is a Wall Street Journal article arguing for that very thing; here is a Daily Kos article blatantly acknowledging that Republicans want to allow competition across state lines.  Democrats have stopped them at every single turn in order to force insurance companies to be forced to pay for sex change operations and the like.  What you get is states that have only ONE insurance carrier.  California, with over thirty million people, has only six insurance carriers who can do business in the state.  And what you get is huge regulation and huge boondoggles.  Just imagine if 200 health insurance companies could compete for your business.  Given the above-documented FACT that doctors and hospitals are happily willing to charge far less for cash, how is it not an obvious common-sense FACT that we could radically drive down the costs of health care if we could ONLY have competition that Democrats have prevented???

You’ve got to understand that the free market system is the only thing that can save the American health care system.  But Medicare has increasingly taken over that system since 1965 and ObamaCare will complete that takeover until the system collapses.  And you’ve got to realize that Democrats viscerally DESPISE that free market competition and want to either dominate health care by nationalizing it or by regulating it to death.

Paul Ryan recognizes that the government has NOT made health care better or cheaper; it’s made it worse and more expensive.

Here is an article that further explains Paul Ryan’s bold plan in answer to Obama’s socialized medicine boondoggle:

3/20/2012 @ 11:18AM |11,099 views
Paul Ryan’s New-and-Improved Plan for Medicare and Medicaid Reform

Last year, Rep. Paul Ryan (R., Wis.), Chairman of the House Budget Committee, unveiled the Path to Prosperity, an impressive fiscal plan that, for the first time in memory, put one chamber of Congress squarely on the record as favoring significant entitlement reform. Today, Ryan has put forth the sequel. Let’s compare the health-care provisions of Version 2 to those of Version 1.

The headline is that the new plan scraps Ryan’s old Medicare proposal, which involved full privatization of Medicare in the form of “premium support,” for a partial privatization which incorporates the option for seniors to stay on traditional Medicare, using a framework known as competitive bidding. The new Medicare proposal is lifted from Paul Ryan’s collaboration with Democratic senator Ron Wyden (Ore.), which I called a “game changer” when it was released in December.

Other health care-related provisions are basically the same: repeal Obamacare, and block-grant Medicaid. Ryan’s proposal seeks to move toward “patient-centered reform,” which he describes as including malpractice reform, purchasing insurance across state lines, and expanding consumer-driven insurance plans. Notably, he advocates allowing employees to opt out of employer-sponsored care, and giving workers the option to take their employer’s insurance contribution and devote it to buying plans for themselves:

There is a consensus of willing leaders from both parties coalescing around the right way forward in health care. Reform should address government-imposed inequities and barriers to true choice and competition. Common-sense solutions include enacting medical liability reform, ensuring Americans can purchase quality coverage across state lines, and expanding access to consumer-directed health care options. Addressing distortions in the tax code could begin by giving employers the opportunity to offer their employees a free choice option, so that workers could be free to devote their employer’s health coverage contribution to the purchase a health insurance plan that works best for them.

Medicaid: The devil’s in the block-grant details

Ryan’s proposal for Medicaid reform involves “converting the federal share of Medicaid spending into a block grant indexed for inflation and population growth.” This contrasts meaningfully with a plan put forth by four House members on the conservative Republican Study Committee: Reps. Todd Rokita (Ind.), Tim Huelskamp (Kans.), Paul Broun (Ga.), and Jim Jordan (Ohio). The RSC proposal aims to keep Medicaid spending flat, with no inflation adjustment, after block-granting it to the states.

Insofar as block-granting Medicaid has become a consensus idea within the GOP, the devil will devolve into the details: What should be the growth rate for the federal block grants? Should profligate states like New York continue to get big grants at the expense of stingy states like Texas, or should the block grant be administered on a per-beneficiary basis?

Medicare: Adapting Wyden-Ryan for the House budget

In coordination with today’s news, Ryan’s team put together a well-produced video on Medicare’s structural problems, and what premium support and competitive bidding seek to do about it:

The new GOP budget would create a “Medicare Exchange”—much like Obamacare’s insurance exchanges but with a public option—for future retirees who are under the age of 55 today. Critically, the level of premium support would be determined by the second-least expensive plan in a region, or traditional fee-for-service Medicare, whichever was lower. Seniors would keep the savings if they chose a cheaper plan:

The second-least expensive approved plan or fee-for-service Medicare, whichever is least expensive, would establish the benchmark that determines the premium-support amount for the plan chosen by the senior. If a senior chose a costlier plan than the benchmark plan, he or she would be responsible for paying the difference between the premium subsidy and the monthly premium. Conversely, if that senior chose a plan that cost less than the benchmark, he or she would be given a rebate for the difference. Payments to plans would be risk-adjusted and geographically rated. Private health plans would be required to cover at least the actuarial equivalent of the benefit package provided by fee-for-service Medicare.

This is meaningfully different from PTP 1, in which seniors didn’t gain any savings from choosing a plan cheaper than the premium support level, and where traditional Medicare was not an option.

Another key detail: Ryan’s plausible assumption is that competitive bidding could drive Medicare spending down without hard spending caps. However, as a backstop, the proposal caps the growth of Medicare spending at GDP plus 0.5 percent, which—not coincidentally—matches the targeted Medicare growth rate in President Obama’s budget.

The PTP 2 growth rate cap of GDP + 0.5% is meaningfully higher than that of PTP 1, which grew Medicare at the rate of inflation, something that was a principal source of criticism from the left (Alice Rivlin called it “much, much too low” ).

A key question is: what will the CBO do? Will the CBO score this new plan with the GDP plus 0.5 percent Medicare growth cap? Or will CBO give Ryan any credit for the benefits of competitive bidding?

Robert Coulam, Roger Feldman, and Bryan Dowd estimate that competitive bidding could shave 8 percent off of Medicare spending: a modest amount, given the program’s rapid growth rate. In the late 1990s, the City of Denver implemented a Medicare competitive bidding demonstration project, and found that bids came in at 25 to 38 percent below those of traditional Medicare. Unfortunately, that demonstration project, like nearly all others of its type, was shuttered due to fierce opposition from interest groups opposed to competitive pricing: hospitals, doctors, and other providers of medical supplies and services.

Overall health care savings: $2.5 trillion vs. Obama budget

In the 2013-2022 time frame, Ryan claims that this new version of the Path to Prosperity will reduce spending by $2.5 trillion, relative to President Obama’s budget: $205 billion from Medicare, $1.6 trillion from Obamacare, and $770 billion from Medicaid and other health-care programs. (Of course, the proposal would also repeal Obamacare’s tax hikes, making the actual deficit-reducing number smaller.)

One key question will be how PTP 2 interacts with the Budget Control Act, the debt-ceiling agreement from last summer. Democrats, and even some Republicans, are arguing that PTP 2 violates that agreement, and is therefore a non-starter in the Senate. I’ll update this post with further info on that subject as it becomes available.

Paul Ryan will be speaking at the American Enterprise Institute at 11:30 a.m. ET to present his plan.

Democrats already on the attack

Congressional Democrats and their allies are already on the attack against the new budget, reiterating the ridiculous claim that Ryan seeks to “end Medicare.” If this assertion was Politifact’s “Lie of the Year” last year, it’s even more dishonest this year, when Ryan’s plan preserves the option to stay in traditional, fee-for-service Medicare. But have a look at this new video from “ Americans United for Change”:

Sounds to me like they’re united against change, but what do I know? It will be up to voters to decide whether or not they want fiscally responsible government.

UPDATE 1: At the AEI press conference, Ryan explained that the tables included in PTP 2 are based on CBO scoring, though he was not asked whether the CBO score includes any credit for competitive bidding. In addition, he explained that the rationale for using GDP plus 0.5 percent for the Medicare premium support growth rate was driven in part by recently slowing growth in Medicare spending.

UPDATE 2: Igor Volsky of ThinkProgress argues, erroneously, that PTP 2 would allow private insurers to “cherry-pick the healthiest beneficiaries from traditional Medicare and leave sicker applicants to the government.” Indeed, the plan risk-adjusts the premium support levels so as to prevent that practice: a well-established methodology. Igor also worries that the plan wouldn’t reduce costs, but rather increase them, because he ignores the cost-reducing effects of competitive bidding. Gene Sperling, President Obama’s National Economic Director, repeats the adverse selection critique in Politico. This is clearly going to be the go-to line of attack for progressive wonks.

UPDATE 3: The CBO has released its evaluation of PTP 2. It turns out that the CBO merely projected future spending using Ryan’s specifications (in the case of Medicare, GDP + 0.5%). Here is a chart that describes how the Ryan plan would reduce Medicare spending relative to current law (the middle bar is the more realistic “alternative fiscal scenario”).

For example, in 2023, spending for a 65-year-old, in 2011 dollars, would be $6,300 under the baseline scenario (no doc fixes), $6,600 under the alternative scenario (includes doc fixes), and $5,900 under the Ryan plan.

In the report, CBO expresses its traditional view that reduced spending on Medicare could have mostly negative consequences, including:

Reduced access to health care; diminished quality of care; increased efficiency of health care delivery; less investment in new, high-cost technologies; or some combination of those outcomes. In addition, beneficiaries might face higher costs, which could in turn reinforce some of the other effects.

Note how “increased efficiency” is sandwiched in there between multiple dire alternatives. Democrats will be sure to seize on this.

UPDATE 4: Paul Ryan’s office confirmed to me that the CBO did not score the competitive bidding provision, and offered these comments:

On competitive bidding and premium support, it is critical to note CBO’s self-admitted “gap in the toolkit” when it comes to analyzing these reforms:

• According to CBO Director Douglas Elmendorf, the CBO “doesn’t have the tools” to measure the merits of choice and competition: http://budget.house.gov/News/DocumentSingle.aspx?DocumentID=248520

• According to CMS Actuary Richard Foster, premium support and competitive bidding have a proven track record of lowering costs and increasing quality: http://budget.house.gov/News/DocumentSingle.aspx?DocumentID=282298

Here’s a video of Foster’s testimony that Ryan is referring to:

UPDATE 5: The conservative Club for Growth has come out against the Ryan plan, because it doesn’t balance the budget quickly enough, and (incorrectly) because it turns off the automatic spending cuts in the Budget Control Act, says President Chris Chocola. The Hill reports that Rep. Tim Huelskamp (co-sponsor of the block-granting initiative I mention above) will vote against the Ryan plan. This shows atrociously bad judgment on their part. The debt-ceiling agreement is a triviality relative to the critical importance of reforming entitlements.

UPDATE 6: The House Budget Committee passed the Ryan plan by one vote—19 to 18—due to two Republican defections: Huelskamp, as mentioned above, and Justin Amash (R., Mich.)

.

Government Creates Jobs? Michigan State Program Gives $1.65 Million Grant That Creates Zero Jobs And Then Goes Bankrupt

August 2, 2012

Please, o mighty Lucifer; give us four more years of Obama so we can collapse the Great Satan America even faster than anyone could have ever have possibly dreamed when the hated pro-Zionist Reagan was president and creating 10 percent economic growth!

State Gives Company $1.65 Million, Creates Zero Jobs and Goes Out of Business
Investment fund designed for ‘creation of new businesses or industries’
By Matthew Needham and Jarrett Skorup | July 27, 2012

The state of Michigan gave one company $1.65 million, with which zero jobs were created or retained after the business went bankrupt.

This is one of several instances where projections fell short for a state fund designed to support select businesses.

The money was given through the Michigan Strategic Fund, a state program that administers the 21st Century Investments program “to strengthen and diversify Michigan’s economy by investing in venture capital, private equity, and mezzanine funds as a method to create jobs and provide financial assistance for the creation of new businesses or industries.”

To date, the direct investment category consists of a single direct investment worth $1.65 million made in Microposite Inc., which was supposed to produce “environmentally friendly” siding products. The state received $55,373 from the investment before Microposite terminated its entire staff on June 30, 2009, and went out of business. The company also received other state support.

The 21st Century Jobs Fund progress report states that zero jobs were created or retained from the $1.65 million investment in Microposite.

“This is redistribution of wealth from the average taxpaying citizen to a privileged few,” said Arnold Kling, an adjunct scholar with the Cato Institute and an economist formerly on the staff of the Board of Governors with the Federal Reserve system.

Kling has written extensively on what he calls “expert failure.”

“The experience from the 50 states is that when government attempts to compete by picking winners and losers, it usually means the state is failing in terms of overall competitiveness,” said Jonathan Williams, director of tax and fiscal policy at the American Legislative Exchange Council. “Additionally, government officials open themselves to charges of cronyism and corruption when they engage in economic micromanagement.”

“The best approach is when states work to create a competitive environment for all.”

These investments were made as part of 21st Century Investments, a program of the 21st Century Jobs Trust Fund. In total, the state committed over $100 million toward investments that have yielded a little more than $1 million in proceeds and created or retained just 267 jobs.

According to the progress report from Sept. 30, 2011, the program had spent $47 million.

The program was created by the 21st Century Fund Act of 2005, which was sponsored by former State Rep. Bill Huizenga, R-Zeeland. Huizenga is now in Congress.

The 21st Century Investments program is a joint collaboration between the Michigan Strategic Fund and Credit Suisse. The Credit Suisse Customized Fund Investment Group manages the investment funds.

The 21st Century Investments program is comprised of four categories. The categories are venture capital investments, private equity investments, mezzanine investments, and direct investments.

The state has committed nearly $60 million toward venture capital investments. All investments made in venture capital are required by law to be focused on “competitive edge technologies.” This restriction does not apply to the other categories.

Despite zero reported spending on the private equity program, three jobs were reported to have been created or retained from the private equity program.

In 2010, an analysis of the program by the Detroit Free Press found that the 21st Century Jobs Fund returned only one-third of the projected jobs. At the time, Ned Staebler, a vice president at the Michigan Economic Development Corp., predicted that “the loans and investments will end up making money for the state in the long run.”

The Michigan legislature expanded the 21st Century Jobs Fund in 2011. The bill to do so was passed nearly unanimously 36-0 in the Senate and 104-5 in the House.

Representatives from the Michigan Economic Development Corp. and Credit Suisse did not respond to requests for comment about the status of the 21st Century Investments program.

~~~~~

See also:

A Bipartisan Disaster: Michigan ‘Corporate Welfare’ Program Rolls On

The State as Venture Capitalist: Michigan Fund Loaned $7.7 Million, Creates Only 20 Percent of Promised Jobs

‘Green’ Company Awarded Up to $120 Million Promised 70 Jobs — Creates Just Three Jobs in Three Years

State Program Awards $67 Million, Creates One-Third of Projected Jobs

Corporate Subsidy Program Lives On Despite Lackluster Results

Select Tax Breaks for State ‘Renaissance Zones’ Program Returns One-Fifth of Predicted Jobs

Michigan Government Program Gives $30 Million to Seven Universities, Creates Less Than Half of Projected Jobs

This is the entire Obama economic policy in one failed microcosm.  Government takes money from the increasingly few taxpayers who are successful and redistributes it to crony capitalist boondoggles like Solyndra that piss it away and then go bankrupt.  And then the obvious answer is to just keep doing the same insane thing over and over until we implode.

Let’s just file that under yet another proof that “If you’ve got a business, you didn’t build that” is a complete load of crap.

Democrats Have Murdered America: Watch City After City Go Bankrupt Because Of The Debt Bombs Democrats Planted Are Now Exploding

July 13, 2012

Twelve US cities have already filed for bankruptcy in Obamanation; another 27 are considering it.

The Democrat Party unions that own Barack Obama have bankrupted America.  We are like the headless chicken that doesn’t know that it’s already dead.

Our real debt is NOT the $16 trillion Obama has officially given us (it was $10 trillion when Bush left office); it is now well over $211 TRILLION.

Democrats rammed through a Social Security boondoggle seventy years ago that has exploded.  It didn’t matter that there was a far better private plan that a Democrat actually proposed; FDR wanted the Democrat to control America until it went bankrupt and he got his way.  The same was true of Medicare and Medicaid; there were FAR better options, but Democrats wanted to socialize America and they got their way.  Now people will die if these programs collapse, and mark my words they WILL collapse because of Democrats who demonize the issue while refusing to fix the problems or allow them to be fixed while the coming bankruptcy looms closer and closer.

Democrats are demon-possessed liars who try to make their fellow fools believe that George Bush bankrupted America.  Bush’s spending isn’t a tenth of one percent of the debt bomb that Democrats have planted in the bowels of America.  And those bombs that the Democrats so expertly planted are now beginning to explode and rip this country apart.

Some time back I started citing this little factoid published in the reliably liberal Los Angeles Times:

California’s $500-billion pension time bomb
April 06, 2010|By David Crane

The staggering amount of unfunded debt stands to crowd out funding for many popular programs. Reform will take something sadly lacking in the Legislature: political courage.

The state of California’s real unfunded pension debt clocks in at more than $500 billion, nearly eight times greater than officially reported.

That’s the finding from a study released Monday by Stanford University’s public policy program, confirming a recent report with similar, stunning findings from Northwestern University and the University of Chicago.

The California State Legislature Senate consists of 25 Democrats and 15 Republicans and the Assembly consisting of 52 Democrats and 28 Republicans to go with a liberal governor nicknamed “Moonbeam.”  Former RINO Governor Arnold Schwarzenegger tried and was broken by the Democrat majority and the unions and never dared to raise his hands against Democrats or their union masters again.

California will burn in hell because it is Democrat, which is another way of saying that it is half completely insane and half genuinely evil.

Democrats and unions are the kind of people who want to make sure that union child molesters get to go on exploiting California’s children.

That pension bomb was planted by DEMOCRATS.  These cockroaches have KILLED California.  Three big California cities have now declared bankruptcy because there is simply no way to pay Democrat Party-controlled unions their incredibly huge pensions.  And Los Angeles is right behind them.  Something between 1 in 5 and 1 in 4 California cities are now facing bankruptcy.  City after city are now rolling over onto their bellies because the Democrat Party is the most corrupt entity in human history.  And I say that because nothing short of the most evil and most dishonest and most corrupt party on earth could have succeeded in murdering the golden goose that was America.  When you consider California, with all of its major global ports and all of its inherent economic advantages, only the most stupid people in history could possibly bankrupt it.  But Democrats have succeeded wildly.

Scranton, Pennsylvania is a Democrat-owned city.  It now has less than $5,000 in the bank.  The Democrat mayor first tried to raise taxes by 78% – as if homeowners could have afforded paying nearly DOUBLE the property tax on their homes– and then things started to get crazy.  Let’s consider the players on the city council who have helped murder Scranton, PA along with Democrat Mayor Christopher Doherty.

SCRANTON CITY COUNCIL (4-YEAR)
 
DEMOCRATS
 
Bob McGoff
 
€‚Jack Loscombe
 
Joe Wechsler
 
Giovanni Piccolino
 
Tom Charles
 
Doug Miller
 
REPUBLICAN
 
œ€‚Lee Morgan

I know, you demon-possessed Democrats.  It’s Bush’s fault.

Democrats have gutted that town and now their strategy is to raise taxes on anybody who is too stupid or too poor to leave.  Meanwhile the union employees are suing to hold on to their insane benefit packages because unions want to suck the life out of you until you are past dead.

Unions are giving 92% of their contributions to Democrats.  Democrats, in exchange and in quid pro quo, have given benefits and pensions to the unions that support them.  And it is a vicious cycle that has continued and will continue until the American people hunt down every single Democrat and burn them alive for what they did to their country.

Barack Obama is now running for re-election on the promise that he will do to America what Democrats have done everywhere else.  Between the fact that ObamaCare is truly evil and the fact that it will bankrupt America, between the fact that Obama has skyrocketed government spending while doing NOTHING to actually help the poor, between the fact that Barack Obama is so insane and so evil that not even ONE SINGLE DEMOCRAT IN TWO YEARS WOULD VOTE FOR HIS DEMONIC BUDGETS, between the fact that Obama has destroyed labor participation in America and the only reason the unemployment rate is as “low” as it is is that he has crushed discouraged workers, and between the fact that the CBO has stated for the record that Barack Obama has destroyed jobs and will continue to destroy jobs, the only thing he was going is go from being the “hope and change president” who promised to rise above the political divide to being the most negative, nasty demagogue hate-flinger in American history.

We’re most of the way through four years of God damn America.  And liberals want more God damn America until there isn’t any America left for God to damn.

The Bible describes this mindset of being utterly determined to pursue wickedness and failure no matter what, just as it describes perfectly the coming hell that big government will produce in the coming Antichrist:

“A third of mankind was killed by these three plagues, by the fire and the smoke and the brimstone which proceeded out of their mouths.  For the power of the horses is in their mouths and in their tails; for their tails are like serpents and have heads, and with them they do harm.  The rest of mankind, who were not killed by these plagues, did not repent of the works of their hands, so as not to worship demons, and the idols of gold and of silver and of brass and of stone and of wood, which can neither see nor hear nor walk; and they did not repent of their murders nor of their sorceries nor of their immorality nor of their thefts” — Revelation 9:18-21

“Then the fifth angel poured out his bowl on the throne of the beast, and his kingdom became darkened; and they gnawed their tongues because of pain, and they blasphemed the God of heaven because of their pains and their sores; and they did not repent of their deeds.” — Revelation 16:10-11

You’d think that the instinct of self-preservation alone would make these people turn from their ideas, but no.  Evil is a disease that consumes to the bone.

We’re seeing the same kind of demonic deception going on now in North Korea.  This is a nation that is completely dark at night because socialism has so wildly failed it is beyond unreal, but they worship Dear Leader and when he dies they worship the son of Dear Leader:

And that is exactly the way that Democrats are.  The only difference is the name of their “Dear Leader.”  His abject failure is the same.

We’re getting just a little tiny taste of the hell that is coming.  As the Antichrist leads the world (America most definitely included as Democrats gleefully worship the beast and take his mark) into hell and the people continue to refuse to repent no matter what happens, so also we now live in an America in which about half of the nation will follow Obama right into abject ruination.

Move Over Greece. Obama Taking America To Bankruptcy: U.S. Debt-To-GDP Now Exceeds 100 Percent While Obama Spends $2.52 To Get Us A Lousy Dollar

April 30, 2012

At the moment I accessed the U.S. national debt clock, our public debt was listed at $15,689,952 trillion (as of 3:33 pm PST, April 27).

The most current figure I could find for the U.S. GDP as expressed in dollars was $15,609,697 trillion (International Monetary Fund).

And … we’re officially Greece, thank you very much.  Because that gives us a debt-to-GDP ratio of 100.5% by my calculation based on those figures.

Tyler Durden has a slightly different figure (100.8%) which is clearly based on slightly different figures.  The numbers are exploding upward so damn fast no human being can keep track of them, anyway:

Big GDP Miss: 2.2% Vs Expectations Of 2.5%, Composition Even Uglier
Submitted by Tyler Durden on 04/27/2012 08:41 -0400

So much for the +3.0% GDP whisper number. Instead of printing at the expected number of +2.5%, the first preliminary GDP data point (two more revisions pending) came out at 2.2%, a big disappointment for a quarter which had a substantial boost from the weather. And while of the 2.2%, Personal Consumption came in strong – as expected, as it was precisely the factor most impacted by pulling in demand forward courtesy of “April in February”, 0.59% of the 2.2% was an increase in inventories, something which was not supposed to happen as it means that the quality of the economic growth in Q1 was far worse than expected. Cementing the ugly composition of Q1 GDP was fixed investment which added just a paltry 0.18% – this is the number which is critical for ongoing cashflow generation and unfortunately, the very low print means that growth outlook for Q2 is now even worse than before and we expect economists will promptly trim their already bearish predictions for Q2 GDP. Finally, government “consumption” subtracted just 0.6% from the total number, a decrease from the 0.84% in Q4, which means that once again the government is starting to become less of a detractor to growth – a dagger in the heart to anyone who claims there is “quality” in GDP growth. And the number you have all been waiting for: At March 31, US Debt/GDP was 100.8%.

Now, the fact that our debt-to-GDP ratio now exceeds 100 percent is bad, really, really bad.  But it’s actually an awful lot worse: because as this quarter’s economic report shows we are adding debt at such a massive level compared to our GDP that it isn’t even funny.

Durden also has a chart that shows just how vast is the Obamanomics discrepancy between massive government spending and meager GDP based on the numbers from the latest GDP report out April 27 (see it put into quick perspective here):

That’s right: the great big giant red bar is Obama’s spending.  The tiny little blue bar is our gross national product.  Obama is foolishly spending massively to give us next to nothing by way of return.

Let me describe this with a picture: the great big giant sumo wrestler is Obama’s spending and the debt it is generating; the little tiny kid is Obama’s economic performance:

Who do you think is going to win (I know liberals will say that Obama is lean and wiry and he’ll take the giant out with his lofty rhetoric)???

Obama is taking the American people $2.52 deeper into debt so he can boast about the dollar he “gained” for us.

And that super-massive 252 percent discrepancy between Obama’s spending and Obama’s GDP guarantees that America is on it’s way to a quick collapse.  You’ve simply got to be demon possessed to believe that this is sustainable (which is why I now understand that “Democrat Party” is shorthand for “Demonic Bureaucrat Party”).

Here’s another chart which essentially measures the rate of our spending that gets really, truly frightening when you consider its implications:

Remember how Obama viciously demonized George Bush over his debt ceiling increase?  Only to himself push through the three highest debt ceiling increases in the entire history of the human race?

What is frightening is that everybody agrees that Bush’s spending was insane.  If you put an angle measure up to that chart, you will see that the angle during the Bush presidency increases at a 50 degree slope.  Democrats demonized Bush for his spending and conservatives agreed that it was beyond crazy.  But now do the same thing to Obama’s spending: and Oh my God it is at 80 degrees.  Ninety degrees is straight up.  WE ARE ALMOST HEADING STRAIGHT UP to a very explosive ending followed by a very long descent into the fish food genre. 

The level and extent of Obama’s failure is simply staggering.  We are going to die.  And it’s going to be a very painful death at that.

And the only possible way to at least prolong that coming agony is to get this disgrace out of our damn White House.  Because next term he’s going to kill us.

If it wasn’t so pathetic, it would actually be kind of funny.  If this was Russia or China or Iran or North Korea, I would be laughing my ass of at these numbers.  But it’s us – and it is our enemies who are laughing their asses off at our expense.

Greek Debt Rocketship Ride Coming To Obama’s God Damn America Soon

March 12, 2012

This is rather amazing.

I’ve got a different Greek phrase to use: Ιερά χάλια.

Greek 1 Year Sovereign Bonds Pass 1000% – Opa!
March 5, 2012
Anthony B. Sanders

The Institute for International Finance (IIF) has released an opinion discussing how a disorderly Greek default would cost over $1 trillion Euros.

And the 1 year Greek sovereign debt yield breaks 1000%!

That is the YIELD, not the coupon rate. The 1 year Greek sovereign coupon rate is 4.1%.

While the Eurozone touts that they have solved the Greek credit crisis (at least for the moment), investors don’t seem too mollified.

Opa! Your economy is on fire!

For the record, Greece just officially defaulted on its debt.  But said debt default was couched in the financialese terminology of a “credit event” and of course barely reported.

You just watch and wait for the $600 trillion hell that Barack Obama and all his crony capitalist fascist pals are going to bring to America.