President Barack Obama has increased our debt by six hundred ninety two billion dollars since his inauguration. Obama Debt Monitor) This has increased our debt by four times this year and ten times in two years. This debt is causing a great burden on our economical system. The president has claimed that this outrageous debt will help us recover from the current crisis. Thomas Jefferson wrote to his friend Samuel Kercheval, about avoiding astronomical debt.
To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanages to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers. (Berg)
There is a need to warn the public about this overwhelming debt. We are beginning to marinate and cook our children. Currently every citizen is responsible for thirty-eight thousand dollars. (National Debt Clock) The average worker only makes thirty-six thousand. (Fact Check) Thomas Jefferson wrote to A. L. C. Destutt de Tracy. "It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.” (Ford). The fore fathers of our country believe in not placing a debt upon our children. They knew what an evil debt could be for a people and a country.
Since the Twentieth of January there have been drastic changes. First, requiring banks to receive and burden them with Toxic Asset Relief Program funds. Then, trying to secretly make the government preferred shares into common shares. This is nothing short of an aggressive power grab resulting in nationalizing our banking system. Common shares have voting powers in the company, while preferred shares only have the security of having dividends paid to them first. Thus by trying to gain backdoor control and virtually nationalizing the banking system.
Timothy Geitner called on congress to give him extraordinary powers to seize a company if its failings would cause a toxic collapse of our economical system. This power grab exceeds all other attempts by the executive branch in the history of our country to seize control of private property. The Constitution reserves the right to own private property to citizens and their offspring the American corporations.
In addition there is a new joke called,”Government Motors.” General Motors has been having trouble financially for quite a few years. Instead of letting General Motors do a healthy bankruptcy restructuring, the administration is robbing the corporate bond holders and throwing the money to the greedy unions. This happens to have been the company’s biggest liability. If General Motors was allowed to do the process, they could shed unnecessary debt and restructure contracts, like the union contracts. Instead, we as the taxpayers now own 70% percent of General Motors. This in turn now allows the government to be the big boss.
These recent attempts to seize control of vital privately own organizations can only be defined as socialistic behaviors. The administration denies it has any socialistic desires but the common saying the proof is in the pudding applies here. Socialism in history has never shown economical success for any country that has used it. Bernarr Macfadden in his article “Communism is National Communism” describes,
Now, the acquirement of capital in our country has been a natural process. We grew from a country of backwoodsmen to the wealthiest nation in the world. Here are citizens have not climbed over the dead bodies of innocent people. Through years of study and careful attention detail they have built a place for themselves. They have earned the rewards they have received. Here every worker is free. At the present time he is fed and housed if jobs are not available. His dependants are taken care of. (Mcfadden)
Socialism leads to enslaving the masses, bankrupting treasuries and hurting futures for our posterities. It enslaves workers by not allowing them choice in who they will work for. It hurts personal as well as macro economical competition. The lone worker is therefore forced into slave labor. He has no ability to find competitive wages. The only way he will therefore become rich is by pulling someone else down the ladder.
Why would we as a capitalistic nation want to place our businesses on welfare? Is it not the responsibility of the company to turn a profit? There never was extended a promise of success. The rights given by our fore fathers were only the opportunity to try. Would it not that best suit our country to let businesses that are not surviving in the competitive ring fail? In our system when a business fails there are those who will take its place. It is then healthy for the economy to have strong and lean businesses than ones that are limping along on the crutch of U.S. taxpayer support. The cost of government bailing out or supporting business is astronomical. Milton Friedman states:
History has shown us the great distress that the socialistic governments have wielded on people and countries. Examples are the former Soviet Union, Germany and Denmark. The new Russian government is still struggling with the massive debt cause by its predecessor. They have yet to gain a positive gross domestic product. While Germany and Denmark have realized the follies of these systems have made drastic changes towards free enterprise.
Why would anyone one choose to live or rule with this style of system when we see the past results? It is being disguised for the benefit of the poor and the worker class. Does not the proposals and statements made by the administration, seem to come straight out of the “Communist Manifesto?” It is being raised up like a great hope to those who are in distress. What they do not know is that they are instead handcuffing themselves to years of debt and grief. What is interesting is those who are leading the charge towards this movement have yet to tell us how they are going to pay for it. The current administration has been in office a little over one hundred days but they have yet to stay within their own budget projections. Why is it that there seems to be a feeling of fraud and deceit in the air? If this is not socialism, why are they using the same slogans and labels to sell it to the American people? Why is the term wealth distribution being thrown out? Are we going to live under a Communist society then?
There needs to be a voice of common sense applied to our economical problems. Instead of causing fear amongst the masses, let us educate and inform. There are several changes to our system that can be put to use that will cause positive change to our economy. First thing that needs to happen is remove the idea of federal bailouts. We need organizations and individuals to take responsibility for their own actions and financial positions. There is a growing sense that there is always someone there to rescue you if you fail or make a wrong choice. This only leads to individuals and organizations making bad or wrong choices. Thus there tends to be no consequences for one’s own actions. We need to find a way to cure this thinking.
Second require businesses to match social security numbers of their employees, with their names in order to receive the tax breaks they receive from the government. This would result in twenty-five million Illegal Aliens returning home due to the fact they cannot work here. Then instantly you have twenty-five million new jobs opened up. Thirdly reduce personal income tax. Historically reduction in taxes has always spurred economical activity. The idea that Americans are lazy and will not do certain jobs is just not true. They will only do it at a reasonable rate.
Then the next recommendation would be to cut unnecessary spending in the federal budget. The administration could do this by using the bully pulpit and by leading the way by proposing a balanced federal budget. Washington is famous for its pork barrel spending. The Government has been acting like a drunken sailor for way to long. We could stop the federal government from taking over companies. Those in charge should ask themselves, is there a privately own company that could do this task better? In most cases the answer to this question is yes.
The dangers of excessive debt are eating the bright future of our country. We can see there are options other than the destructive nature of Socialism. Socialism and excessive national debt will indeed in shackle our posterity if we do not make corrective actions. We may live high on the hog, but our children will receive nothing but the oink. Let us think before we take a course of action which will indeed eat away at our children’s future. It is up to us not to eat our children. The government of the United States is ruled by the people according to the preamble of our constitution. That inspired document starts out saying, “We the People of the United States.” When the people stand up and shout with one accord their representatives will listen. Let us stand up and tell them, stop spending our money and squandering the future of our children. Let us not be deceived by the fancy and flattery terms being used to camouflage socialism and dictatorship.
The argument that we can spend ourselves out of the crisis at hand is ludicrous. The main reason we are in the current situation is due to the large debt that a lot of our citizens could not pay back. Businesses that were highly leveraged before entering this recession are the same ones that are now out of business. It does not matter if you are an individual, a Fortune 500 company, or a country if your highly leveraged it gives you very little room to work to overcome trouble. What is scary is that our government’s lenders are beginning to question our ability to pay back our debts. Timothy Geitner, the treasury secretary, recently visited China and was laughed at by students and business men from China, when he told them our currency was stable and a safe bet.
There is a need to warn the public about this overwhelming debt. We are beginning to marinate and cook our children. Currently every citizen is responsible for thirty-eight thousand dollars. (National Debt Clock) The average worker only makes thirty-six thousand. (Fact Check) Thomas Jefferson wrote to A. L. C. Destutt de Tracy. "It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.” (Ford). The fore fathers of our country believe in not placing a debt upon our children. They knew what an evil debt could be for a people and a country.
The main cause of this excessive debt is the movement towards socialized government. Since the current administration has taken office, there has been a strong swing towards what could be considered a socialized hybrid movement. What is most foul is the apparent attempt of camouflaging the movement. Currently, the federal government takes up twenty-nine and half percent of the nation’s gross domestic product. This means that for every dollar that goes through our economy the federal government touches at least thirty cents. The following incidents describe the movement towards what could be define as a mixture of dictatorship and socialism. Webster’s dictionary defines Socialism: “any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.”
Since the Twentieth of January there have been drastic changes. First, requiring banks to receive and burden them with Toxic Asset Relief Program funds. Then, trying to secretly make the government preferred shares into common shares. This is nothing short of an aggressive power grab resulting in nationalizing our banking system. Common shares have voting powers in the company, while preferred shares only have the security of having dividends paid to them first. Thus by trying to gain backdoor control and virtually nationalizing the banking system.
Timothy Geitner called on congress to give him extraordinary powers to seize a company if its failings would cause a toxic collapse of our economical system. This power grab exceeds all other attempts by the executive branch in the history of our country to seize control of private property. The Constitution reserves the right to own private property to citizens and their offspring the American corporations.
The current administration has another socialist power grab to its credit. Chrysler Daimler was forced into merging with Fiat in order to have the blessing of Obama. The president has appointed another “Czar.” This is a created position, intended to circumvent the right of the senate to confirm his cabinet choices. The extreme pressure applied to Chrysler could be compared to mob bullying. The administration is applying its political power where it does not belong.
In addition there is a new joke called,”Government Motors.” General Motors has been having trouble financially for quite a few years. Instead of letting General Motors do a healthy bankruptcy restructuring, the administration is robbing the corporate bond holders and throwing the money to the greedy unions. This happens to have been the company’s biggest liability. If General Motors was allowed to do the process, they could shed unnecessary debt and restructure contracts, like the union contracts. Instead, we as the taxpayers now own 70% percent of General Motors. This in turn now allows the government to be the big boss.
These recent attempts to seize control of vital privately own organizations can only be defined as socialistic behaviors. The administration denies it has any socialistic desires but the common saying the proof is in the pudding applies here. Socialism in history has never shown economical success for any country that has used it. Bernarr Macfadden in his article “Communism is National Communism” describes,
Now, the acquirement of capital in our country has been a natural process. We grew from a country of backwoodsmen to the wealthiest nation in the world. Here are citizens have not climbed over the dead bodies of innocent people. Through years of study and careful attention detail they have built a place for themselves. They have earned the rewards they have received. Here every worker is free. At the present time he is fed and housed if jobs are not available. His dependants are taken care of. (Mcfadden)
Socialism leads to enslaving the masses, bankrupting treasuries and hurting futures for our posterities. It enslaves workers by not allowing them choice in who they will work for. It hurts personal as well as macro economical competition. The lone worker is therefore forced into slave labor. He has no ability to find competitive wages. The only way he will therefore become rich is by pulling someone else down the ladder.
Why would we as a capitalistic nation want to place our businesses on welfare? Is it not the responsibility of the company to turn a profit? There never was extended a promise of success. The rights given by our fore fathers were only the opportunity to try. Would it not that best suit our country to let businesses that are not surviving in the competitive ring fail? In our system when a business fails there are those who will take its place. It is then healthy for the economy to have strong and lean businesses than ones that are limping along on the crutch of U.S. taxpayer support. The cost of government bailing out or supporting business is astronomical. Milton Friedman states:
Federal subsidies to U.S. businesses now cost American taxpayers nearly $100 billion a year. If all corporate welfare programs were eliminated, Congress would have enough money to entirely eliminate the capital gains tax and the death tax. Alternatively, Congress could cut the personal and corporate income tax by 10 percent across the board. Either of these alternatives would do far more to enhance the competitiveness of U.S. industry than the current industrial policy approach of trying to help American companies one at a time. (Friedman)
History has shown us the great distress that the socialistic governments have wielded on people and countries. Examples are the former Soviet Union, Germany and Denmark. The new Russian government is still struggling with the massive debt cause by its predecessor. They have yet to gain a positive gross domestic product. While Germany and Denmark have realized the follies of these systems have made drastic changes towards free enterprise.
Why would anyone one choose to live or rule with this style of system when we see the past results? It is being disguised for the benefit of the poor and the worker class. Does not the proposals and statements made by the administration, seem to come straight out of the “Communist Manifesto?” It is being raised up like a great hope to those who are in distress. What they do not know is that they are instead handcuffing themselves to years of debt and grief. What is interesting is those who are leading the charge towards this movement have yet to tell us how they are going to pay for it. The current administration has been in office a little over one hundred days but they have yet to stay within their own budget projections. Why is it that there seems to be a feeling of fraud and deceit in the air? If this is not socialism, why are they using the same slogans and labels to sell it to the American people? Why is the term wealth distribution being thrown out? Are we going to live under a Communist society then?
There needs to be a voice of common sense applied to our economical problems. Instead of causing fear amongst the masses, let us educate and inform. There are several changes to our system that can be put to use that will cause positive change to our economy. First thing that needs to happen is remove the idea of federal bailouts. We need organizations and individuals to take responsibility for their own actions and financial positions. There is a growing sense that there is always someone there to rescue you if you fail or make a wrong choice. This only leads to individuals and organizations making bad or wrong choices. Thus there tends to be no consequences for one’s own actions. We need to find a way to cure this thinking.
Second require businesses to match social security numbers of their employees, with their names in order to receive the tax breaks they receive from the government. This would result in twenty-five million Illegal Aliens returning home due to the fact they cannot work here. Then instantly you have twenty-five million new jobs opened up. Thirdly reduce personal income tax. Historically reduction in taxes has always spurred economical activity. The idea that Americans are lazy and will not do certain jobs is just not true. They will only do it at a reasonable rate.
Then the next recommendation would be to cut unnecessary spending in the federal budget. The administration could do this by using the bully pulpit and by leading the way by proposing a balanced federal budget. Washington is famous for its pork barrel spending. The Government has been acting like a drunken sailor for way to long. We could stop the federal government from taking over companies. Those in charge should ask themselves, is there a privately own company that could do this task better? In most cases the answer to this question is yes.
The dangers of excessive debt are eating the bright future of our country. We can see there are options other than the destructive nature of Socialism. Socialism and excessive national debt will indeed in shackle our posterity if we do not make corrective actions. We may live high on the hog, but our children will receive nothing but the oink. Let us think before we take a course of action which will indeed eat away at our children’s future. It is up to us not to eat our children. The government of the United States is ruled by the people according to the preamble of our constitution. That inspired document starts out saying, “We the People of the United States.” When the people stand up and shout with one accord their representatives will listen. Let us stand up and tell them, stop spending our money and squandering the future of our children. Let us not be deceived by the fancy and flattery terms being used to camouflage socialism and dictatorship.
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