Glenn begins this program speaking about the Smoot Hawley Act (tariffs) that helped create the second depression inside the depression with a great chart from the Wall Street Journal that shows how the current administration is following the course of FDR. He then covers Austin Goolsbee’s ‘White House White Board’ class for us stupid moos when it comes to the Bush Tax cuts though Beck does call them the Obama Tax Increases. What Beck, once again, leaves out is the fact that if the federal government did not have the private banking cartel known as The Federal Reserve providing them with a credit card, we wouldn’t be $14 Trillion in debt. My choice isn’t between tax cuts or tax increases, it’s between real money or fiat money.
(Editor’s Note: Please keep in mind while you read this post, that the Federal Reserve Mafia was in consultation today regarding a trillion dollar policy of another round of quantitative easing, and gold jumped to a new record after the Fed’s statement about interest rates.)
Let’s talk about the Bush tax cuts and the choices that this administration, congress, and media are giving the unhappy moos across the country. Do you remember how the whole circus started a few weeks ago with Obama stating that he was going to allow the Bush tax cuts to expire, and the growing cyclone of debate that has ensued?
A current recap. Chairman Zero wants to keep the tax cuts in place for couples making less then $250k and individuals making less than $200k. Princess Pelosi believes that ‘they’ must extend the “Obama Middle Class Tax Cuts” for just the middle class, and 31 of her not-so-loyal soldiers have gone off the reservation when considering such a move. Just a few days ago, the Queen of the Swamp stated “But I see no justification for going into debt to a foreign country to underwrite and subsidize tax cuts for the wealthiest people in America.” Technically, Nancy has a point, BUT what about the $110 MILLION that went to create 55 California jobs…it’s okay to underwrite and subsidize corruption and all the rest of the silly spending these teenagers have approved? Also, according to National Review Online, a tax increase for the upper 2% of Americans would bring in a whopping $34 Billion next year; enough to cover 9 days of deficit spending. In addition, John Boehner had a ‘moment’ on a recent Sunday news show stating that he would vote for the partial tax extension if forced to, but has since backtracked. We also have had the media arguing very vocally for about two weeks about whether or not the super rich should be getting the tax extension like everybody else. Every single time you look at print or television, you hear about the Bush tax cuts expiring at the end of the year or see a countdown clock for the ‘greatest tax hike in history’ on television. Chairman Zero is even stating during speaking engagements that “giving” a tax cut extension to millionaires and above would create $700 Billion in more debt over ten years.
Let’s keep beating the ‘debt’ drum, shall we? We KNOW we are in trouble, but who exactly is responsible for the debt and the deficits?
Ready to bust out of the chute moos? Ready to understand on the most basic level why we have $13.4 TRILLION in national debt and $110.4 TRILLION in unfunded liabilities?
Question: What creates debt?
What does a person or organization pay on money that has been borrowed from someone else?
In the past when our government needed money, they took out loans from other governments to help them pay for wars, but there was a limit to the amounts they could borrow and spend.
Then along came The Federal Reserve Mafia System that created a National Credit Card for our wayward Congress. Would you like to see the INTEREST ON THE FEDERAL DEBT because of the linked banking cartel and congressional traitors who use the IRS as their mafia enforcers?
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