I think we can all agree that Government does not create wealth. I'm not a fan or advocate of Glenn Beck, however this is a must-watch video excerpt which explicitly outlines just how insidiously expansive and invasive the Government is becoming under Obama's Presidency:
Anyone who watches that and is not completely horrified and fearful needs to have their head examined. Is this what everyone who supported/supports Obama voted for?
This brings me to my next point. The House is set to pass legislation today which will require that the Government borrow ANOTHER $26 billion in order to keep Government employees employed. Let's take a look at Government employee pay vs. private sector pay. In March, USA Today released a study which showed that Government employees earned $67,691 on average vs. $60,046 for private sector workers. This disparity becomes grotesque when you include Federal employee benefits valued at $40,785 vs. $9,882 for those employed by real businesses. That's total average compensation of $108,476 for mostly useless, non-productive Government piss-ants vs. $50,667 total compensation for those trying to make an honest living and contribute to the country's real economy. Here's the link: Unbelievable, horrific Still feel good about voting for Obama?
The reason Obama is dumping massive pay and benefits - and extending unemployment benefits ad infinitum - is contained in the wisdom of George Bernard Shaw: "A Government that robs Peter to pay Paul can always count on Paul's support." I guarantee you that Obama is doing nothing more than counting the votes of more and more Government leeches every time he signs this kind of legislation.
Here's the problem: Government spending is largely nothing more than a massive transfer of wealth and income from the private sector to the Government and its increasingly loyal employees. Nothing more. In fact, at this stage of the ongoing systemic, slow-motion collapse of the U.S., the Government has to now borrow 45 cents for every dollar it spends. How do I arrive at this? The stated Federal budget for FY 2010 was $3.55 trillion. At the end of 2009, Treasury debt outstanding was $11.9 trillion. It is projected to be $13.9 trillion for 2010. The projected deficit was forecast to be $1.17 trillion. Yet the Treasury will be issuing $2 trillion in debt this year. The difference is explained by the off-budget spending like the war on terror, the bailout of FNM/FRE/GM etc. So the real Government spending will be around $4.38 trillion, of which $2 trillion is borrowed. Got it? The amount of debt issued by Treasury is 45% of total spending, or 45 cents for every dollar spent. I'd really love to see a transparent and true accounting of all of that "off-budget" spending, which will be around 19% of total spending. Didn't Barak Hussein promise us a more transparent and open Government? Hmmm...
One more point of rant today. The FOMC announced today that the Fed will be buying more Treasury debt to help support the economy. Can someone please explain to me how enabling the Government to borrow even more more money actually supports the economy? The only way you can hope to protect yourself against the abuses of the Obama Government and corrupt banking system he enables is to move as much of your wealth as possible into physical gold and silver and some into mining stocks.