Pay Raise in 2013 tied to Budget Deal

Does it surprise anyone that the President has backtracked on his promise to give Federal Workers a whopping 0.5% raise in 2013.  Now he wants it tied to having a Budget passed in 2013.  Since the Senate hasn't passed a Budget in 3 years what do you think the odds are that one will be passed in 2013?  My guess is 0.00000000000000000000000000000000000000000000000000000000000000001%. 

US Debt by Year since 1790

Here is a long term Debt Chart going back to 1790.  Currently the US is nearing 16 Trillion in Debt. 

The 2 Party System

I'm amazed the 2 Party System has lasted as long as it has as many people are fed up with both parties.  You really have to wonder how long it will be before somebody comes along and finds a way to galvanize the disenchanted voters and form a new party that is stronger than either of the current two in place.  However maybe it will never happen. 

Quickly approaching 16 Trillion in Debt

Based on August 21st numbers Government Debt is approaching 16 Trillion.  The Debt Ceiling is at 16.394 Trillion so I expect by November we will be nearing the Debt Ceiling,

The Perfect Mix

Commodity Prices have been soaring especially those food related.  Also Gasoline Futures are rising again so we have the perfect mix with rising Food Prices coming as well.  If things flare up in the Middle East Gasoline Futures will soar in the months ahead which will not be good for consumers.

I will cut the Deficit in half by the end of my 1st Term

Who made this famous quote on February 23, 2009 you may ask?  Why the President did.  So where are we at today after that promise.  Well based on data from August 20, 2012 the debt has increased by just over 5.1 Trillion dollars since February 23, 2009.  I'm sure he was misquoted and meant he would actually increase the debt by 50%. 

How Would You Respond?

Back in World War 2 millions of Jews were executed by Hitler.  Before World War 2 began Hitler made it very clear how he felt about the Jews and what he would do to them.  Now in the 21st Century another leader President Mahmoud Ahmadinejad of Iran has made it very clear how he views Israel as he has stated on several occasions that Israel should be wiped off the face of the earth.  Before World War 2 began world leaders ignored Hitler's threats and believed he was blowing smoke in the wind, however, we all know how that turned out.   80 years later here we are again as many world leaders appear to be ignoring Ahmadinejad's threats as they believe he is just saying these things to increase his popularity in Iran.

If you were living in Israel and knew what happened back in World War 2 would you consider Ahmadinejad's threats as nothing more than bolstering his regime or would you consider his threats as legitimate?   Let's face it if the roles had been reversed and millions of Americans had been executed by Hitler and not Jews would the US be standing idly by if Ahmadinejad had said the US should be wiped off the face of the earth.  

Medicare and Medicaid

Based on the baseline scenario from the CBO total Medicare and Medicaid Spending will double in the next 10 years.  Current Spending is just over 800 billion and is forecast to exceed 1.6 trillion by 2022.

 

Disability Insurance to go Bankrupt in 2016

The data in the chart below is taken from CBO's baseline scenario involving Disability Insurance through 2022.  Notice the Trust Fund is forecast to run our of money by then end of 2015 and it could be even sooner if the CBO baseline scenario is overly optimistic .  Thus the government will have to find at least 160 billion dollars to fund Disability Insurance in 2016 and a whopping 1.28 Trillion Dollars through 2022 based on this baseline scenario.  

  

USA Today Article Full of Lies

This article claims Federal Employees make way too much in retirement.  USA today focuses on the old retirement system for their biased analysis.  It would be nice if these people would do their research without a biased agenda.

See the article at  http://www.usatoday.com/money/perfi/retirement/story/2012-07-19/federal-pensions-in-excess-of-100-thousand/57059716/1

Vice President Quote "Biden-on-Romney-theyre-going-to-put-yall-back-in-chains"

An amazing quote from the Vice President:

"Biden-on-Romney:  Theyre-going-to-put-yall-back-in-chains"
 
 How is this remark not considered racist?

See article below at

http://freebeacon.com/biden-on-romney-theyre-going-to-put-yall-back-in-chains/

Where are Moody's and S&P?

One year ago the credit rating agencies downgraded the United States ability to pay off its debt.  Furthermore  they stated if the US didn't address the debt problem over the next 12 months additional downgrades would be possible.  Well here we are one year later and the US Government has done nothing to address the debt problems yet there is not one peep out of the ratings agencies.

Should all members of the Senate Resign

The last federal budget that passed was in 2009.  Since then the senate has been using a bunch of continuing resolutions and is set to use another one as there will be no agreement by October 1st.  One of the main jobs of the senate is to pass a budget every year.  Since they have failed to do so for the last 3 years then they all should resign in my opinion.

Quickly approaching Debt Ceiling

As of July 31st the government is now within 460 billion of the debt ceiling which may be reached near election time.  Last year at this time Total Public Dept Outstanding was 14,342,369,000,000 so we have see seen an increase of nearly 1.6 Trillion in debt the past 12 months.   

Another Continuing Resolution

With it being an election year naturally it wouldn't be a good idea to get a budget passed by October 1st would it.  There hasn't been a budget passed by the Senate since 2009 so I don't expect one to be signed into law in 2013 either.  Once again where are the downgrades from the Credit Agencies who just a year ago said if the US didn't get its spending in order would lead to downgrades.