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Gary Edwards

Rand Paul's Tea Party Response: Full Text - 0 views

www.newsmax.com/...490118

Rand-Paul Libertarian USA-Constitution

shared by Gary Edwards on 13 Feb 13 - No Cached
  • With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses.
  • America has much greatness left in her. We will begin to thrive again when we begin to believe in ourselves again, when we regain our respect for our founding documents, when we balance our budget, when we understand that capitalism and free markets and free individuals are what creates our nation’s prosperity.
  • Gary Edwards on 13 Feb 13
     
    Outstanding statement about what made America great, an dhow are government is destroying that greatness.  This is the full Text of Sen. Rand Paul's Tea Party Response to Obama's State of the Union Address: I speak to you tonight from Washington, D.C. The state of our economy is tenuous but our people remain the greatest example of freedom and prosperity the world has ever known. People say America is exceptional. I agree, but it's not the complexion of our skin or the twists in our DNA that make us unique. America is exceptional because we were founded upon the notion that everyone should be free to pursue life, liberty, and happiness. For the first time in history, men and women were guaranteed a chance to succeed based NOT on who your parents were but on your own initiative and desire to work. We are in danger, though, of forgetting what made us great. The President seems to think the country can continue to borrow $50,000 per second. The President believes that we should just squeeze more money out of those who are working. The path we are on is not sustainable, but few in Congress or in this Administration seem to recognize that their actions are endangering the prosperity of this great nation. Ronald Reagan said, government is not the answer to the problem, government is the problem. Tonight, the President told the nation he disagrees. President Obama believes government is the solution: More government, more taxes, more debt. What the President fails to grasp is that the American system that rewards hard work is what made America so prosperous. What America needs is not Robin Hood but Adam Smith. In the year we won our independence, Adam Smith described what creates the Wealth of Nations. He described a limited government that largely did not interfere with individuals and their pursuit of happiness. All that we are, all that we wish to be is now threatened by the notion that you can have something for nothing, that you can have your cake and ea
Paul Merrell

Trump's Proposed Budget Includes Whopping $54 Billion Increase In Defense Spending - 0 views

www.mintpressnews.com/...225328

Trump-administration budget Defense-spending

shared by Paul Merrell on 27 Feb 17 - No Cached
  • The White House says President Donald Trump’s upcoming budget will propose a whopping $54 billion increase in defense spending and impose corresponding cuts to domestic programs and foreign aid. The result is that Trump’s initial budget wouldn’t dent budget deficits projected to run about $500 billion. White House budget officials outlined the information during a telephone call with reporters Monday given on condition of anonymity. The budget officials on the call ignored requests to put the briefing on the record, though Trump on Friday decried the use of anonymous sources by the media. Trump’s defense budget and spending levels for domestic agency operating budgets will be revealed in a partial submission to Congress next month, with proposals on taxes and other programs coming later.
  • The increase of about 10 percent for the Pentagon would fulfill a Trump campaign promise to build up the military. The senior budget official said there will be a large reduction in foreign aid and that most domestic agencies will have to absorb cuts. He did not offer details, but the administration is likely to go after longtime Republican targets like the Environmental Protection Agency. The tentative proposals for the 2018 budget year that begins Oct. 1 are being sent to agencies, which will have a chance to propose changes. In Congress, Democrats and some Republicans are certain to resist the cuts to domestic agencies, and any legislation to implement them would have to overcome a filibuster threat by Senate Democrats. A government shutdown is a real possibility. “It is clear from this budget blueprint that President Trump fully intends to break his promises to working families by taking a meat ax to programs that benefit the middle class,” said Senate Democratic leader Charles Schumer of New York. “A cut this steep almost certainly means cuts to agencies that protect consumers from Wall Street excess and protect clean air and water.” The White House says Trump’s budget also won’t make significant changes to Social Security or Medicare.
  • rump’s first major fiscal marker is landing in the agencies one day before his first address to a joint meeting of Congress. For Trump, the prime-time speech is an opportunity to refocus his young presidency on the core economic issues that were a centerpiece of his White House run. The upcoming submission covers the budget year starting on Oct. 1. But first there’s an April 28 deadline to finish up spending bills for the ongoing 2017 budget year, which is almost half over. Any stumble or protracted battle there could risk a government shutdown as well. The March budget plan is also expected to include an immediate infusion of 2017 cash for the Pentagon that’s expected to register about $20 billion or so, and to contain the first wave of funding for Trump’s promised border wall and other initiatives like hiring immigration agents. The president previewed the boost in military spending during a speech Friday to conservative activists, pledging “one of the greatest buildups in American history.” “We will be substantially upgrading all of our military, all of our military, offensive, defensive, everything, bigger and better and stronger than ever before,” he said.
  • Paul Merrell on 27 Feb 17
     
    If we're to have a policy of non-interference, why do we need increase defense spending?
Paul Merrell

US Military Uses IMF and World Bank to Launder 85% of Its Black Budget | Global Researc... - 1 views

www.globalresearch.ca/...5469097

Dark-State black-budget banksters IMF World-Bank WTO CIA Fitts

shared by Paul Merrell on 24 Aug 15 - No Cached
  • hough transparency was a cause he championed when campaigning for the presidency, President Obama has largely avoided making certain defense costs known to the public. However, when it comes to military appropriations for government spy agencies, we know from Freedom of Information Act requests that the so-called “black budget” is an increasingly massive expenditure subsidized by American taxpayers. The CIA and and NSA alone garnered $52.6 billion in funding in 2013 while the Department of Defense black ops budget for secret military projects exceeds this number. It is estimated to be $58.7 billion for the fiscal year 2015. What is the black budget? Officially, it is the military’s appropriations for “spy satellites, stealth bombers, next-missile-spotting radars, next-gen drones, and ultra-powerful eavesdropping gear.” However, of greater interest to some may be the clandestine nature and full scope of the black budget, which, according to analyst Catherine Austin Fitts, goes far beyond classified appropriations. Based on her research, some of which can be found in her piece “What’s Up With the Black Budget?,” Fitts concludes that the during the last decade, global financial elites have configured an elaborate system that makes most of the military budget unauditable. This is because the real black budget includes money acquired by intelligence groups via narcotics trafficking, predatory lending, and various kinds of other financial fraud.
  • The result of this vast, geopolitically-sanctioned money laundering scheme is that Housing and Urban Devopment and other agencies are used for drug trafficking and securities fraud. According to Fitts, the scheme allows for at least 85 percent of the U.S. federal budget to remain unaudited. Fitts has been researching this issue since 2001, when she began to believe that a financial coup d’etat was underway. Specifically, she suspected that the banks, corporations, and investors acting in each global region were part of a “global heist,” whereby capital was being sucked out of each country. She was right.
  • As Fitts asserts, “[She] served as Assistant Secretary of Housing at the US Department of Housing and Urban Development (HUD) in the United States where I oversaw billions of government investment in US communities…..I later found out that the government contractor leading the War on Drugs strategy for U.S. aid to Peru, Colombia and Bolivia was the same contractor in charge of knowledge management for HUD enforcement. This Washington-Wall Street game was a global game. The peasant women of Latin America were up against the same financial pirates and business model as the people in South Central Los Angeles, West Philadelphia, Baltimore and the South Bronx.” This is part of an even larger financial scheme. It is fairly well-established by now that international financial institutions like the World Trade Organization, the World Bank, and the International Monetary Fund operate primarily as instruments of corporate power and nation-controlling infrastructure investment mechanisms. For example, the primary purpose of the World Bank is to bully developing countries into borrowing money for infrastructure investments that will fleece trillions of dollars while permanently indebting these “debtor” nations to West. But how exactly does the World Bank go about doing this? John Perkins wrote about this paradigm in his book, Confessions of an Economic Hitman. During the 1970s, Perkins worked for the international engineering consulting firm, Chas T. Main, as an “economic hitman.” He says the operations of the World Bank are nothing less than “pure economic colonization on behalf of powerful corporations and banks that use the United States government as their tool.”
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  • In his book, Perkins discusses Joseph Stiglitz, the Chief Economist for the World Bank from 1997-2000, at length. Stiglitz described the four-step plan for bamboozling developing countries into becoming debtor nations: Step One, according to Stiglitz, is to convince a nation to privatize its state industries. Step Two utilizes “capital market liberalization,” which refers to the sudden influx of speculative investment money that depletes national reserves and property values while triggering a large interest bump by the IMF. Step Three, Stiglitz says, is “Market-Based Pricing,” which means raising the prices on food, water and cooking gas. This leads to “Step Three and a Half: The IMF Riot.” Examples of this can be seen in Indonesia, Bolivia, Ecuador and many other countries where the IMF’s actions have caused financial turmoil and social strife. Step 4, of course, is “free trade,” where all barriers to the exploitation of local produce are eliminated. There is a connection between the U.S. black budget and the trillion dollar international investment fraud scheme. Our government and the banking cartels and corporatocracy running it have configured a complex screen to block our ability to audit their budget and the funds they use for various black op projects. However, they can not block our ability to uncover their actions and raise awareness.
Paul Merrell

Cut Social Security & Veterans' Benefits? Cut the Pentagon Instead | Common Dreams - 0 views

www.commondreams.org/...09-5

war & peace sequestration defense budget

shared by Paul Merrell on 10 Apr 13 - No Cached
  • If, like most Americans, you prefer to cut what Secretary of Defense Chuck Hagel has called the "bloated" Pentagon budget instead of cutting Social Security and veterans' benefits, you have even more reason to rejoice. Because at this political juncture, everyone in America who says "no cuts to Social Security or veterans' benefits" is effectively saying "cut the bloated Pentagon budget," whether they do so explicitly or not. If the "grand bargain" is killed and Social Security and veterans' benefits are spared - apparently these are all the same political event - then the Pentagon budget will be cut instead. And that means that at long last, we're effectively having the "guns vs. butter" debate in the United States that we have been so long denied. And that's not all. We have a new way to talk about the Pentagon budget, that every American can easily grasp. We can talk about the Pentagon budget by using the President's proposed cuts to Social Security and veterans' benefits as the unit of measurement.
  • According to the Congressional Budget Office, the President's proposal to use the "chained CPI" to calculate cost of living increases would save the government $127 billion over ten years by cutting Social Security and $36 billion over ten years by cutting "programs affecting veterans and the poorest elderly and disabled." That's a grand total of $163 billion over ten years from hitting seniors, veterans, and the disabled. So, now we have a new unit of measurement for talking about the Pentagon budget. Anything in the Pentagon budget that costs $163 billion over ten years costs as much as President Obama proposes to save by hitting seniors, veterans, and the disabled. Let us consider just three examples.
  • The key takeaway from all these numbers is that compared to the bloated Pentagon budget, the proposed savings from whacking seniors, veterans, and the disabled are chump change, not worth bothering with. The crucial thing to remember in all this is that none of us needs to come up with a specific plan to replace cuts to Social Security and veterans benefits with Pentagon cuts. Cutting the Pentagon budget instead - the sequester - is the default option, the status quo. All we have to do if we prefer Pentagon cuts to cuts in Social Security and veterans benefits is to kill the grand bargain. The Pentagon can then propose what mix of ending the war in Afghanistan, buying fewer or cheaper fighter planes, cutting contracting, closing foreign military bases, and retiring expensive generals it prefers to stay within its new budget. And then we can decide if we're ok with that, or prefer something else.
Gary Edwards

Why the "Balanced Budget Amendment" is a Hoax - and a Deadly Trap - 0 views

www.canadafreepress.com/...37954

Balanced-Budget-Amendment Publius-Huldah

shared by Gary Edwards on 22 Mar 12 - No Cached
  • Gary Edwards on 22 Mar 12
     
    Wonderfully written argument AGAINST the proposed Balanced Budget Amendment.  Publius Huldah makes a very compelling and convincing legal argument that the BBA is not what it appears.  She argues that we should first restore the Constitution.  Doing that will balance the budget and much more.  The BBA actually expands the power and reach of Big Government, transfering even more spending to the Executive Branch! excerpt: Will the Balanced Budget Amendment (BBA) really "reign in" the federal government? Will it really "show them" that they have to balance their budget the same as we do? Or does it actually legalize spending which is now unconstitutional? Is it actually a massive grant of new constitutional powers to the President and the federal courts - a grant which will cut the Heart out of The Constitution our Framers gave us? Amending the Constitution is serious business - and you are morally bound to get informed before you jump on The Amendment Bandwagon. So, lay aside your giddy joy at the fact that all 47 U.S. Senate Republicans are co-sponsoring the Balanced Budget Amendment, Senate Joint Resolution 10 (March 31, 2011). Let's go through it. What you believe the BBA will do, and what it will actually do, are two very different things indeed. 
Gary Edwards

A First Look at the Book "The Liberty Amendments", by Mark Levin - Tea Party Command Ce... - 0 views

teapartyorg.ning.com/...show

Liberty-Amendments

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  • Gary Edwards on 15 Aug 13
     
    Excellent youtube interview! "Mark Levin has just published his much-anticipated book The Liberty Amendments: Restoring the American Republic. Three of his eleven proposed Constitutional amendments appear below, and a Sean Hannity interview of Levin appears at the bottom of this post. Levin's book is centered around the Constitution's Article V (aka "Article 5″). That article specifies two methods for amending the Constitution. Just briefly - In the first method of creating amendments, Congress proposes and the States dispose. In the second method of creating amendments, the States propose and the States dispose. The second method has never been used successfully, although there have been many attempts.  It is that second method that the Founders provided as a remedy for an overreaching federal government. In the second method, neither Congress, nor the President, nor the Supreme Court have any voting or veto authority whatsoever.  The states are in full control. Period. It is, by design, the ultimate override for an over-spending, over-taxing, over-regulating, and increasingly dictatorial and lawless federal government. Clearly, its time has come. In that second method, Congress has at most a mere ministerial role.  Of course Congress is very protective of its power, and could, through delay and inaction, attempt to convert their mere ministerial role into a de facto veto power, halting any attempt for a state-driven amendment action. Apparently Congress has done exactly that many times, acting in bad faith and contrary to the Framers' spirit and intent for Article V which is clearly expressed in the Federalist Papers. Legal scholars have been trying to find a way around the federal government's intransigence, so far with little success. Now more than ever, it is time for We the People to bring the power of Article V to the center ring of American politics. That starts with awareness, and Levin's book will br
Paul Merrell

Pentagon Still Plans to Blow Through Its Allowance - 0 views

www.pogo.org/...low-through-its-allowance.html

war & peace Defense-spending accountability

shared by Paul Merrell on 22 Nov 14 - No Cached
  • a few years ago, Congress gave the Pentagon strict limits on its annual allowance, but the Department has struggled to stay within that budget. In advance of the Pentagon’s annual budget request, which usually is submitted during the spring, a senior defense official, Alan Estevez, confirmed that the Department plans on blowing through the budget caps next year. “We’re going to propose a budget next January and it’s going to be above sequestration levels.” Shocker!
  • When Estevez refers to “above sequestration levels,” he means above the legal spending limits that Congress has placed on the federal discretionary budget via legislation called the Budget Control Act (BCA). However, the Pentagon continues to propose funding levels that exceed the authorized amounts. Earlier this year, when the Pentagon first submitted its budget for Fiscal Year 2015, military planners proposed spending $115 billion more than is allowed by the spending caps over the next five years.
  • Now, Estevez is confirming that the Pentagon will indeed follow through on its pledge to blow through its allowance. “We’re obviously planning a budget above sequestration, similar to what we put forward in [Fiscal Year] ’15,” says Estevez. This coming year, in Fiscal Year 2016, the Pentagon will propose spending more than $60 billion above the amount authorized by Congress. CBO Assessment
  • ...1 more annotation...
  • While the Pentagon admits that it wants to spend $115 billion more than is allowed, an independent government watchdog says that, in reality, the Pentagon wants to spend even more than that. According to the nonpartisan Congressional Budget Office (CBO), which objectively analyzes the federal government’s long-term spending plans, the Pentagon actually would spend $182 billion more than is allowed over the five-year period from FY 2015 through FY 2019. That’s because CBO has a more realistic way of evaluating Pentagon spending plans.
  • Paul Merrell on 22 Nov 14
     
    Remember September 10, 2001? That's the day that Donald Rumsfeld announced that the Pentagon couldn't account for $2.3 trillion in spending. https://www.youtube.com/watch?v=xU4GdHLUHwU The accountability situation hasn't changed. Ignoring the sequestration limits simply compounds the DoD's impunity for the law. 
Gary Edwards

The Balanced Budget Amendment - Cut Cap Balance Pledge - 0 views

cutcapbalancepledge.com

Balanced-Budget-Amendment

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  • Gary Edwards on 17 Jun 11
     
    We believe that this is a fiscally irresponsible position that would place America on the Road to Ruin. At the same time, we believe that the current debate over raising the debt limit provides a historic opportunity to focus public attention, and then public policy, on a path to a balanced budget and paying down our debt. We believe the Republican Study Committee's "Cut, Cap, Balance" plan for substantial spending cuts in FY 2012, a statutory spending cap, and the passage of a Balanced Budget Amendment to the Constitution is the minimum necessary precondition to raising the debt limit. The ultimate goal is to get us back to a point where increases in the debt limit are no longer necessary. If you agree, take the Cut, Cap, Balance Pledge! There are versions for elected officials, federal candidates and ordinary citizens. THE PLEDGE :: I pledge to urge my Senators and Member of the House of Representatives to oppose any debt limit increase unless all three of the following conditions have been met: Cut - Substantial cuts in spending that will reduce the deficit next year and thereafter. Cap - Enforceable spending caps that will put federal spending on a path to a balanced budget. Balance - Congressional passage of a Balanced Budget Amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.
Gary Edwards

Stopping America's Federal Debt Explosion by Martin Feldstein - Project Syndicate - 0 views

www.project-syndicate.org/...on-by-martin-feldstein-2016-02

martin-feldstein National-debt Banksters

shared by Gary Edwards on 27 Feb 16 - No Cached
  • the fiscal deficit is the most serious long-term economic problem facing US policymakers.
  • A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that’s just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%.
  • The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects.
  • ...3 more annotations...
  • the time will come when the US will have to pay the interest by exporting more goods and services than it imports. And boosting net exports will require a weaker dollar to make US products more attractive to foreign buyers and foreign goods more expensive to US buyers, implying a loss in Americans’ standard of living.
  • Increased borrowing by the federal government also means crowding out the private sector. Lower borrowing and capital investment by firms reduces future productivity growth and growth in real incomes.
  • Federal taxes now take 18.3% of GDP and are projected to remain at that level for the next decade, unless tax rules or rates are changed. The rate structure for personal taxation has changed over the past 30 years, with the top tax rate rising from 28% in 1986 to more than 40% now. The corporate rate of 35% is already the highest in the industrial world.
  • Gary Edwards on 27 Feb 16
     
    "CAMBRIDGE - The US Congressional Budget Office (CBO) has just delivered the bad news that the national debt is now rising faster than GDP and heading toward ratios that we usually associate with Italy or Spain. That confirms my view that the fiscal deficit is the most serious long-term economic problem facing US policymakers. A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that's just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%. Support Project Syndicate's mission Project Syndicate needs your help to provide readers everywhere equal access to the ideas and debates shaping their lives. LEARN MORE Even that projection assumes that interest rates on the national debt will rise slowly, averaging less than 3.5% in 2026. But if the US debt ratio really is on the fast track to triple-digit levels, investors in the US and abroad may rightly fear that the government has lost control of the budget process. With debt exploding, foreign bondholders could begin to worry that the US will find a way to reduce its real value by stoking inflation or imposing a withholding tax on all government bond interest. In that case, investors will insist on a risk premium: higher interest rates on Treasury debt. Higher interest rates, in turn, would increase the deficit - and thus the future level of the debt ratio - even more. The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects. Foreign investors now own more than half of net government debt, and
Gary Edwards

How Can the US Get Back its AAA Rating? | NewsyStocks.com - 0 views

www.newsystocks.com/...the-us-get-back-its-aaa-rating

Banksters S&P-downgrade USA-downgrade financial-collapse Obammunism

shared by Gary Edwards on 09 Aug 11 - No Cached
  • First among the recommendations of S&P 500, it expects the US government to get the federal debt down to around 60 percent or 65 percent of GDP, which has been historically around 40 percent.
  • . Its concerns were divided into two categories. First, the Americans are growing old and the cons
  • Currently, t
  • ...9 more annotations...
  • S&P had made it clear that budget cuts alone are not sufficient but taxes must be increased.
  • S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer
  • w faster than t
  • The government requires at least $4 trillion to $5 trillion in savings over the next 10 years to achieve the debt target.
  • tinue to gro
  • ncreases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social S
  • ecurity.
  • budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury.
  • A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.
  • Gary Edwards on 09 Aug 11
     
    S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer continue to grow faster than the economy. Its concerns were divided into two categories. First, the Americans are growing old and the consequent increases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social Security. So, the government needs to create a framework to address the costs of an aging American population. This could require an increase in the age limit at which Social Security and Medicare Benefits could be accessed and to exclude those people who have savings or jobs from both of these programs.   The other crucial area of concerns highlighted by S&P is that budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury. While increasing revenue and cutting spending will help in reducing the deficit and help in balancing the budget. A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.   Analysts believe that the US needs to compromise on its defence budget also, which still supports large deployments of armed forces and material overseas. The US has commitments to NATO in Afghanistan and Iraq, and the federal government believes that it needs to support strategic initiatives in place like Japan. The government has to take strong steps in its policy towards these obligations to put the country's economy back on track.   The US owes maximum of its debt to China. So the Congress needs to put pressure on the Chinese government to alter the value of its currency to make the trade between the two countries fair. Furthermore, cheap goods exported by China have caused a loss of manufacturing jobs in the US, so the latter should place tariffs on more Chinese goods as a way to raise money and prevent dumping of pro
Gary Edwards

So Who's Up For A Round Of Messenger-Shooting? | RedState - 0 views

www.redstate.com/...-a-round-of-messenger-shooting

Banksters national-debt-Ceiling dollar-destruction banksters

shared by Gary Edwards on 02 Aug 11 - No Cached
  • Gary Edwards on 02 Aug 11
     
    The US Government will continue to borrow over $100 Billion per month.  Thanks to the grand borrowing plan, the ruling class assures us that spending cuts for 2012 will total $7 Billion (for the year).  2013 is whopping $2 Billion.  What a deal!!!  It's convert to GOLD or kiss it goodbye time my friends. excerpt:  The prospect of having S&P downgrading US debt has politicians scrambling to prevent such a Bonfire of The Keynesians. To forestall the coming horror, they worked tirelessly to pass a Balanced Budget Amendment, means test entitlement programs, close unnecessary military bases which were doled out as Congressional Pork, and repealed ObamaCare to the ringing cheers of small businesses all over America. Pysch! No they didn't. They immediately mounted a rhetorical assault against S&P for having the temerity to question the creditworthiness of an organization that has borrowed $5Tr dollars in the past five years, seen a precipitous and enduring decline in its corporate revenues, and has failed to fashion an acceptable long-term budget in the last 800 days. If a broker told me to buy lots of stock in some private corporation that tried that crap I'd hang up the phone on that individual without any further comment. S&P put it more politely when they said the following. "We view an inability to timely agree and credibly implement medium-term fiscal consolidation policy as inconsistent with a 'AAA' sovereign rating." So the United States government has failed to pass a budget for 800 days. We have increased our national debt from $9Tr to $14Tr in the very recent near-term. Our President has recommended a budget that would have raised this indebtedness to $25Tr over the next ten. It's a genuine shame we aren't giving these people more revenues. They manage what we do give them so well.
Paul Merrell

America's Real National Security Budget - A Trillion Dollars a Year - War Is ... - 0 views

medium.com/...on-dollars-a-year-42c2a2362e16

war & peace national-security-spending US

shared by Paul Merrell on 05 Feb 15 - No Cached
  • On Feb. 2, the White House rolled out its military and intelligence budget proposal for 2016—and it’s a doozy. The administration wants $534 billion for the Pentagon’s normal “base” budget plus another $51 billion for combat operations in Afghanistan and the Middle East.That’s $585 billion combined, $25 billion more than Congress approved last year. Washington conceals spending on the country’s 16 spy agencies—as much as $80 billion—largely inside the main Pentagon budget.But the official numbers don’t reflect the true cost of America’s wars and national defense. In reality, the United States spends closer to trillion dollars a year on its current and former soldiers, sailors, airmen, Marines, intel agents and their equipment—and also the paramilitary “homeland security” personnel whose equivalents in many other countries are uniformed troops.The U.S. Coast Guard, for instance.
  • Mandy Smithberger, director of the Straus Military Reform Project at the Center for Defense Information—part of the Project on Government Oversight in Washington, D.C.—has helpfully crunched some of the numbers.Smithberger counts $1.003 trillion in national security spending in the administration’s 2016 budget proposal. That includes the Pentagon’s $534-billion base budget and the $51-billion war fund, which Smithberger points out “is traditionally used as a slush fund to pay for [Defense Department] priorities that couldn’t make it into the base budget.”
Paul Merrell

Reagan and Obama budget directors urge to cut Pentagon spending - RT USA - 0 views

rt.com/...ng-budget-defense-stockman-239

financial-collapse defense budget

shared by Paul Merrell on 04 Apr 13 - No Cached
  • Speaking at a Thomson Reuters Newsmaker event this week, David Stockman and Peter Orszag both said the US could save tremendously if it shifted spending away from the Pentagon, ending the trend of dumping a large chunk of the federal budget on maintaining overseas military bases and lengthy occupations.Stockman, who was budget director from 1981 to 1985 under Republican Ronald Reagan, is considered by Reuters to be “a key architect of tax-cutting policies” enacted during that administration. And although Peter— a former budget director for Democrat President Barack Obama — comes from the other side of the aisle, both say military spending should be slashed to save the country.“We ought to go back to [President Dwight] Eisenhower’s standard on defense,” Stockman said during the discussion. In 1960, he said, Eisenhower closed out his presidency by warning Congress that continuous spending aimed at the Pentagon would feed and foster the military industrial complex that exists today.
  • “Go back to that,” said Stockman. “We could save two trillion dollars over the next 10 years simply by going back to the Eisenhower standard: Getting out of this imperial foreign policy of invasion and occupation; demobilize our forces.”Stockman said that having one-and-a-half million service members in the Armed Forces is “ridiculous,” and that the US could sustain with a military less than one-third of that. “Why do we have a million in our reserves in National Guard?” he asked. “We are spending a quarter of a trillion dollars a year just on manpower and benefits just for all of those people I’ve mentioned, and we have no industrial enemies anywhere in the world.”Orszag failed to go into as great of detail as Stockman in terms of defense spending, instead emphasizing that scaling back Social Security payments and ending income tax cuts could best solve the country’s financial woes.
  • Orszag says governments are right to use spending to stretch out the economic adjustments to keep large segments of population from losing their jobs, which itself can cause long-lasting problems,” reports Reuters.That isn’t to say, however, that he shied away from taking an axe to the Defense Department’s budget in the past. After leaving the Obama White House, he authored an op-ed for Bloomberg News in 2012 where he outlined ways to pinch pennies by giving Uncle Sam less to work with.“In the abstract, reducing defense costs seems pretty simple: Just cut back on some of the really expensive equipment,” Orszag wrote. “The cost of building the F-35 fighter, for example, has been estimated at more than $100 million per plane. The new littoral combat ship, designed to operate in coastal regions, is projected to cost about $600 million per ship.”
Gary Edwards

Federal Deficit Reduction Plan Comparison Tool - The Committee For A Responsible Federa... - 2 views

crfb.org/compare

Federal-budget Committee-For-A-Responsible-Federal-Budget

shared by Gary Edwards on 12 Dec 12 - No Cached
  • Gary Edwards on 12 Dec 12
     
    Amazing interactive chart that enables a comparison of the many different budget proposals circulating Washington DC.  Amazing and loaded with specific data - yet simple and easy to use.  Many thanks to the Committee For A Responsible Federal Budget!!!!  Awesome. excerpt: "The U.S. national debt is rising to unsustainable levels. The need to address this critical challenge with a long-term, comprehensive approach is evident in the many fiscal plans that have emerged. Many of these plans share common ideas, but many differ in important aspects. With our interactive comparison tool below, you'll be able to compare all the existing plans by category and even compare up to three plans side-by-side. This tool is a useful reference as policymakers debate solutions to our fiscal challenges."
Paul Merrell

Article: New War Budget & Strategy Announced by Obama Team | OpEdNews - 0 views

www.opednews.com/..._Fear_Military-140225-682.html

war & peace U.S. military spending Obama Hagel

shared by Paul Merrell on 27 Feb 14 - No Cached
  • Secretary of War Chuck Hagel yesterday announced the Obama administration's Pentagon budget proposal for the coming year.  Despite mandates for cuts in military spending after agreements with Congress under sequestration, Hagel actually calls for an increase of more than $115 billion for war making. The Hagel budget basically calls for cuts in Army ground forces and cutbacks in military pay, housing and commissary facilities on bases.  Life for the enlisted will become more difficult.   The Pentagon is also calling for the closing of a few National Guard posts in some states.   Hagel calls for 'sustaining' the Pentagon's nuclear triad - air, ground, and sea delivery systems of nuclear weapons.  Also called for is an increase in drones and robotic forces as well as significant expansion in cyber warfare capabilities.   Wall Street immediately reacted by joyfully giving Lockheed-Martin all-time high stock gains.  The writing on the wall is clear - cuts in troop levels and increase in high-tech space directed war-making capability.
  • We will see an expansion of US "hidden" wars in the near future and the Obama budget reflects this reality.  While Hagel wants to pare back the size of the active-duty military by 13% and the reserves by 5% in coming years he would boost the size of Special Operations forces by about 6%.  The plan is to add more than 3,000 personnel to the kinds of special ops forces teams that reportedly killed Osama bin Laden in Pakistan.  These same clandestine forces now operate in more than 75 countries around the world.  In his film "Dirty Wars" investigative journalist Jeremy Scahill reports on the largely unaccountable Joint Special Operations Command (JSOC) that is now doing targeted assassinations, destabilization, and training of right-wing and terrorist forces used by the US in places like Ukraine, Afghanistan, Pakistan, Libya, Yemen, Somalia, Syria, Venezuela and beyond. The corporate oligarchy is moving rapidly to consolidate their total control of the people around the world and the US is playing its role of "security export" rather well. Mainstream media reports of the Hagel announcement also tag two key places on the planet that will receive special emphasis from this new budget.  Those are the African continent and the Asia-Pacific.  This is where the long-range military operations planning and funding are heading.
Gary Edwards

The GOP Should Be Mindful Of August And Take Back Up Holding the Line | RedState - 0 views

www.redstate.com/...-take-back-up-holding-the-line

Obama-downgrade redstate cut-cap-balance Ryan-Budget

shared by Gary Edwards on 08 Aug 11 - No Cached
  • Gary Edwards on 08 Aug 11
     
    The White House no longer has a commander in chief in charge, but a professional victim. Last week, it was the Arab Spring, those damn Europeans, Mother Nature, etc. Now it is all about those evil tea partiers. For three years, Barack Obama has blamed George W. Bush for all his ills. Yes, it is true, Barack Obama inherited an economy sliding backward. But it is also true Barack Obama inherited a AAA credit rating from George W. Bush. Obama's policies have exacerbated a bad economy and caused us to lose our credit rating. But still, expect a full court press to blame the GOP and Tea Party. So I have some quick advice for the GOP. Back when S&P said it was considering a down grade, it set out two criteria to avoid losing the downgrade: (1) at least $4 trillion in cuts and (2) bipartisan support. Only the tea party movement came up with such a plan - Cut, Cap, and Balance. It received bipartisan support in the House, came within five votes of a majority in the Senate, and not only cut $4 trillion, but put caps on future government spending and balanced the federal budget. No other plan, including the public grand bargain and Barack Obama's own super-double-top-secret plan that no one has ever seen did that. Were I in Republican Leadership in Washington, I would haul my butt back to D.C. right now and start fighting again for Cut, Cap, and Balance. 66% of Americans support the plan. It is the only plan that would have avoided a credit decline. Go back and pick up the fight on the front lines for freedom. And if they just can't, they they better point out to the new Super Committee that it was, in fact, possible to cut $4 trillion without enacting job killing tax increases and encourage them to send back as its package Cut, Cap, and Balance.
  • Gary Edwards on 08 Aug 11
     
    The Tea Party passed two plans to restore USA crdibility and good standing: The Ryan Balanced Budget and the Cut, Cap & Balance plan. Both plans passed the House with bipartisan support. Both plans were acceptable to the credit rating agencies, including Standard & Poor. Both plans were blocked by the Democrats in the Senate, and, threatened with a veto from Obama. The people with no plan blocked the only plans that would have saved the USA credit rating. Rush made the point this morning that if Obama and the Democrats cared about this country, they would be insisting that both the Tea Party plans, the Ryan Balanced Budget and the Cut, Cap & Balance plans be put forward in the Senate immediately for a vote, with the full backing of Obama. Rush pointed out that if Obama and the Democrats didn't do this, or didn't come forward with a proposal of their own that actually qualified and met the credit ratings agencies $4 Trill - stop the reckless spending criteria debt concerns, then our worst fears would be confirmed. Our worst fears being that Obama and the Democrats are worse than mere incompetent socialist ideologues. That they are in fact out to destroy the goose that laid the golden egg: Constitutional Capitalism, American exceptionalism, and our God given right to life liberty and the pursuit of happiness that under-girds the extraordinary story of American prosperity. So Obama has a choice today. He either complies with the demands that the USA Government get it's finances in order by supporting the credit ratings approved Tea Party plans. Or, explain why his vision of a downgraded, prosperity bereft and indentured debt bound America is the way forward. Time to start demanding resignations. The fish rots from the head.
Paul Merrell

Paul Craig Roberts: Our Collapsing Economy and Currency - 0 views

www.informationclearinghouse.info/article33198.htm

war & peace economy currency financial-collapse

shared by Paul Merrell on 04 Dec 12 - No Cached
  • Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used. The fiscal cliff is the result of the inability to close the federal budget deficit. The budget deficit cannot be closed because large numbers of US middle class jobs and the GDP and tax base associated with them have been moved offshore, thus reducing federal revenues. The fiscal cliff cannot be closed because of the unfunded liabilities of eleven years of US-initiated wars against a half dozen Muslim countries--wars that have benefitted only the profits of the military/security complex and the territorial ambitions of Israel. The budget deficit cannot be closed, because economic policy is focused only on saving banks that wrongful financial deregulation allowed to speculate, to merge, and to become too big to fail, thus requiring public subsidies that vastly dwarf the totality of US welfare spending.
  • The real crisis facing the US is the impending collapse of the US dollar’s foreign exchange value. The US dollar’s value in relation to silver and gold has already collapsed. In the past ten years, gold’s price in US dollars has increased from $250 per ounce to $1,750 per ounce, an increase of $1,500. Silver’s price has risen from $4 per ounce to $34 per ounce. These price rises are not due to a sudden scarcity of gold and silver, but to a flight from the dollar into the two forms of historical money that cannot be created with the printing press.
  • What can be done? For a number of years I have pointed out that the problem is the loss of US employment, consumer income, GDP, and tax base to offshoring. The solution is to reverse the outward flow of jobs and to bring them back to the US. This can be done, as Ralph Gomory has made clear, by taxing corporations according to where they add value to their product. If the value is added abroad, corporations would have a high tax rate. If they add value domestically with US labor, they would face a low tax rate. The difference in tax rates can be calculated to offset the benefit of the lower cost of foreign labor. As all offshored production that is brought to the US to be marketed to Americans counts as imports, relocating the production in the US would decrease the trade deficit, thus strengthening belief in the dollar. The increase in US consumer incomes would raise tax revenues, thus lowering the budget deficit. It is a win-win solution.
  • ...2 more annotations...
  • The second part to the solution is to end the expensive unfunded wars that have ruined the federal budget for the past 11 years as well as future budgets due to the cost of veterans’ hospital care and benefits. According to ABC World News, “In the decade since the Sept. 11, 2001 terrorist attacks on the World Trade Center, 2,333,972 American military personnel have been deployed to Iraq, Afghanistan or both, as of Aug. 30, 2011 [more than a year ago].” These 2.3 million veterans have rights to various unfunded benefits including life-long health care. Already, according to ABC, 711,986 have used Veterans Administration health care between fiscal year 2002 and the third-quarter of fiscal year 2011. http://abcnews.go.com/Politics/us-veterans-numbers/story?id=14928136#1 The Republicans are determined to continue the gratuitous wars and to make the 99 percent pay for the neoconservatives’ Wars of Hegemony while protecting the 1 percent from tax increases. The Democrats are little different.
  • No one in the White House and no more than one dozen members of the 535 member US Congress represents the American people. This is the reason that despite obvious remedies nothing can be done. America is going to crash big time. And the rest of the world will be thankful. America along with Israel is the world’s most hated country. Don’t expect any foreign bailouts of the failed “superpower.”
Paul Merrell

The true cost of national security : Columbia Journalism Review - 0 views

www.cjr.org/...true_cost_of_national_secu.php

financial-crisis 2014 budget defense spending

shared by Paul Merrell on 22 Feb 13 - No Cached
  • Soon, we will get the president’s proposed fiscal 2014 spending plan. Much attention will focus on Social Security and Medicare, which have been flashpoints lately. Meanwhile, if coverage in years past is any guide, we can expect stories from many news outlets that will significantly understate a third huge slice of spending—the real costs of military and other national defense spending.
  • Meanwhile, wars are debt-financed, even though taxes were raised to help pay for every war American prior to Afghanistan and Iraq. Add in interest costs attributable to past conflicts, as the pacifist War Resisters League does, and the fiscal 2013 cost of national security comes to more than $1.3 trillion—two and a half times the basic Defense budget. That pretty much all-in cost almost equals the $1.6 trillion expected to be raised through the individual federal income tax in fiscal 2013, as shown in Table S-5 of the proposed White House budget. By this broadest measure, the cost of national security consumes every individual income tax dollar except the last one paid by each thousand paid per American. That doesn’t leave much for other spending on commonwealth goods and services that provide the foundation for private incomes and wealth. Social Security and Medicare, financed with payroll taxes, cost $820 billion and $528 billion respectively, for a total of $1.3 trillion, making their combined cost less than the broadest measure of national security spending.
  • Paul Merrell on 22 Feb 13
     
    Defense spending --- the elephant in the budget debate room that mainstream media ignores. 
Paul Merrell

Trump's Pentagon Budget Boost: Shades of Ronald Reagan « LobeLog - 0 views

lobelog.com/-boost-shades-of-ronald-reagan

war & peace Defense-spending Trump-administration

shared by Paul Merrell on 28 Feb 17 - No Cached
  • The last time a president went for a peacetime defense budget increase of the magnitude the Donald is seeking was 1981. Showing no originality, the current office-holder has even borrowed Ronald Reagan’s bumper sticker: “Peace Through Strength”! Holy cow, he even plans to bury this increase in a budget that promises fiscal control, cuts revenues, and slashes domestic spending. Talk about Groundhog Day. David Stockman must be rolling over in his bed (being still alive), recognizing the track marks on newly minted Mick Mulvaney as similar to the ones Cap Weinberger left on his back in 1981. It’s like a bad movie, something Reagan knew well; or, better yet, a bad TV show, which was the leadership preparation for the current chief executive.
  • Paul Merrell on 28 Feb 17
     
    The senior White House official for national security budgets from 1993-1997 devastates Trump's proposed whopping increase in defense spending.
Paul Merrell

Pentagon 'big winner' in $1T omnibus bill | TheHill - 0 views

thehill.com/...er-in-1t-omnibus-spending-bill

war & peace War-Party appropriations sequestration

shared by Paul Merrell on 16 Jan 14 - No Cached
  • The Pentagon and the defense industry came out of the $1 trillion omnibus spending bill as a big winner, experts and lawmakers said Tuesday, a day after the bill was released. “The big winner is the Defense Department. They should be breaking out champagne in the Pentagon,” said Gordon Adams, a defense budget expert and former Clinton official.The omnibus spending bill provides about $497 billion for the Defense Department in 2014 — about the same as in 2013. But the Pentagon also received $85.2 billion in overseas contingency operations (OCO) for the war in Afghanistan, roughly $5 billion more than it requested for 2014.Before last month’s budget deal that relieved $22.4 billion in sequestration cuts, the 2014 defense budget would have been around $475 billion. The OCO funding, which Adams said is the “cherry on top of the dessert,” can be used to pay for operations and maintenance in the base budget and help restore military readiness lost in previous years. Fiscal watchdog and anti-war groups criticized the $5 billion increase from the Pentagon's request in OCO funding as a “slush fund to pad the department’s budget and avoid spending reductions,” especially with the winding down of the Afghan War. 
  • The defense industry was also a winner in the omnibus spending bill, Adams said. All major weapons systems procurement requests were fully-funded, including the F-35 Joint Strike Fighter — the Pentagon’s most expensive weapons system in history. Also fully funded were the Army’s M1 Abrams tank program, and the Navy’s shipbuilding plans for eight new ships. Israel is also a winner in the omnibus spending bill, with money fully provided for the Arrow, David’s Sling, and the Iron Dome rocket defense systems. 
  • While lawmakers touted the completed spending bill as a win for nearly everyone, there were a few losers. One of the most notable losers included the Pentagon’s research and development projects, which received $7 billion less than last year.In addition, the defense space program and the procurement for the E-2D Advanced Hawkeye program were delayed. Also, funds for the Afghan National Security Forces is about half as much as the White House requested, Adams said.
  • ...1 more annotation...
  • Overall, lawmakers said the omnibus spending bill, which is expected to pass this week, was 'a good start'. 
  • Paul Merrell on 16 Jan 14
     
    The War Party wins again. Spending cuts will come out of non-defense branches of government. Meanwhile, the Judicial Branch is nearly flat on its back because of sequestration. Judicial spending before sequestration was only 0.19 per cent of federal spending (19 cents of each $100) but  $350 million got chopped by sequestration.  The result: things like massive delays in court proceedings and a 35 per cent cut in personnel in the Federal Defenders office, a loss of institutional knowledge that will never be recovered.
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