3/24/2009. Citizen-- Take Action on the Federal Budget
Today's Zinger:
While your head is spinning, hold tight because it is just the beginning
Morning Briefing:
Discussion:
The Administration has proposed a budget and plan which triples, at a minimum, the Federal deficit. There is insufficient cash flow to pay next year's deficit let alone a tripling of the deficit in the next ten years. To meet the need for cash the Federal Government will have to print money which will force the vicious cycle outlined in the above Morning Briefing. The consequences of this spending will be crippling.
The dollar, which is used as the basis of international trade, will lose its' value and thus its' standing. This will put additional pressure on future borrowings as the Chinese and other countries that we rely on to buy our debt will require a greater return (i.e. more interest) to compensate for greater risk.
We must stop this insanity now. I recognize that we are in an unprecedented economic liquidity situation which has led to a significant global recession. However, what we need to do is solve the liquidity problem and get our people back to work, not solve all of our problems at this moment driven by President Obama's ideological agenda.
This week I will focus on the steps that need to be taken to address our Nation's problems. In the meantime, American citizens must organize to get the attention of Congress and let them know that we are deeply concerned about this level of spending.
CONTACT YOUR CONGRESSMAN AND EXPRESS YOUR OUTRAGE over the level of spending and the loss of credibility of the Congress. The first step in the solution by the citizens is to cause a pause in their actions. The best way to do this is cause concern that they will lose their jobs. It seems to be the only thing that they respond to. So, citizens should write their Congressmen and let them know "You're mad as hell and won't take it any more". Stop the spending and focus. Focus on liquidity and jobs now.
Here is a link so you can find and write your Congressman:
While your head is spinning, hold tight because it is just the beginning
Morning Briefing:
- We are in a vicious cycle that could crush our economy if we don't stop the massive spending. Follow the logic........
- The Fed increases Spending
- Which increases the need for more cash
- The Treasury prints more cash or borrows if possible
- Which increases inflation and interest rates
- Which increases the need for more cash and more spending
- Which brings us back to the Fed increasing spending
Discussion:
The Administration has proposed a budget and plan which triples, at a minimum, the Federal deficit. There is insufficient cash flow to pay next year's deficit let alone a tripling of the deficit in the next ten years. To meet the need for cash the Federal Government will have to print money which will force the vicious cycle outlined in the above Morning Briefing. The consequences of this spending will be crippling.
The dollar, which is used as the basis of international trade, will lose its' value and thus its' standing. This will put additional pressure on future borrowings as the Chinese and other countries that we rely on to buy our debt will require a greater return (i.e. more interest) to compensate for greater risk.
We must stop this insanity now. I recognize that we are in an unprecedented economic liquidity situation which has led to a significant global recession. However, what we need to do is solve the liquidity problem and get our people back to work, not solve all of our problems at this moment driven by President Obama's ideological agenda.
This week I will focus on the steps that need to be taken to address our Nation's problems. In the meantime, American citizens must organize to get the attention of Congress and let them know that we are deeply concerned about this level of spending.
CONTACT YOUR CONGRESSMAN AND EXPRESS YOUR OUTRAGE over the level of spending and the loss of credibility of the Congress. The first step in the solution by the citizens is to cause a pause in their actions. The best way to do this is cause concern that they will lose their jobs. It seems to be the only thing that they respond to. So, citizens should write their Congressmen and let them know "You're mad as hell and won't take it any more". Stop the spending and focus. Focus on liquidity and jobs now.
Here is a link so you can find and write your Congressman:
I agree with your statement. It is time for the Citizens to take back their country. Our government is acting irresponsibly and they have lost credibility.
Reply to this
I am reading this three months after you first published the article. Boy were you right. We have over committed to spending that is not sustainable and we now have to figure out how to pay down some of this debt. The government is no better than consumers and mortgages. I have a feeling we will all be hearing from the tax man despite what promises were made during the election.
Reply to this