ONE TRILLION DOLLARS

The picture is of one trillion dollars. See the man to the bottom left? See the double stacked pallets of $100 bills? Now imagine what 11x that amount is, and that's getting an idea how much the US Govt. owes because of our National Debt.

Bush created TARP at a cost of $750 billion, Obama created an Economic Stimulus Plan at $787 billion, Omnibus at $41o billion with approximately 9,000 earmarks, a proposed budget of $3.6 trillion, with deficit expenditures approximated at $1.2 trillion, don't forget the $275 billion for attempting to fix the housing market, $240 billion in bailout money for AIG alone, and who knows how many hundreds of billions the Federal Reserve has given banks since late last year (some say $2 trillion even). With what we do know however, Obama has helped rack up $3.7 trillion in debt and that f'er has been in office not even two months

Our Economy is being destroyed by debt. Our liberties are being usurped as a result. Had we maintained fiscal responsibility, there wouldn't be a National Debt. Had we maintained a Federal Republic like the Founders created, the Federal Govt. would have been incapable of extracting this wealth from us. The socialism that exists in this country wouldn't exist if the original tax structure remained in place, appropriating taxes, because the States would have had a voice in preventing such a burdensome inequality via their representation in the US Senate. In Federalist Paper No. 63. James Madison wrote:

"Thus far I have considered the circumstances which point out the necessity of a well-constructed Senate only as they relate to the representatives of the people. To a people as little blinded by prejudice or corrupted by flattery as those whom I address, I shall not scruple to add, that such an institution may be sometimes necessary as a defense to the people against their own temporary errors and delusions. As the cool and deliberate sense of the community ought, in all governments, and actually will, in all free governments, ultimately prevail over the views of its rulers; so there are particular moments in public affairs when the people, stimulated by some irregular passion, or some illicit advantage, or misled by the artful misrepresentations of interested men, may call for measures which they themselves will afterwards be the most ready to lament and condemn. In these critical moments, how salutary will be the interference of some temperate and respectable body of citizens, in order to check the misguided career, and to suspend the blow meditated by the people against themselves, until reason, justice, and truth can regain their authority over the public mind?"

How perfect what James Madison wrote over 221 years ago describing our current situation. WHAT PRESCIENCE!!! The people demand taxes to take money from the wealthy and redistribute it to the lower classes. Logic would have prevailed when the lower classes realized this meant lower wages and higher unemployment. The bankers demand bailouts to prevent the banking system from collapsing. Logic would have prevailed when people realized their hard earned money would go to banks with unscrupulous lending practices. The people facing foreclosure demand to be saved from foreclosure when they bought homes they couldn't afford. Logic would have prevailed when the prudent realized their greedy neighbor would stay in the home he couldn't afford courtesy of their paycheck. The Federal Reserve, the creator of inflation in this country, would never have been created when logic prevailed and the States realized more taxes would be collected to pay interest to print our own money!

The Federal Reserve, a non-government entity created by the banking establishment in 1913 at Jekyll Island, prints our money and charges us interest. I reported in a previous blog we currently owe nearly $1 trillion in interest to the Federal Reserve. We owe a remainder of $10 trillion plus interest to possessors of US Treasury Debt Bonds (China, Japan, Europe, etc.). Continuing to rack up debt, plus the interest, will very soon make us insolvent (incapable of repaying debt). With the current policy of dumping credit into the market to stimulate economic growth, thus increasing our debt burden, we're delaying the inevitable market correction that must take place and will take place. As Ludwig von Mises stated, "The alternative is only whether the crises should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

With Democrats in charge that only know how to take income from one set of society and distribute it to another undeserving set of society, their incompetence thus prevents them from solving this situation or even having the capability to do so. We're witnessing the effects of their stupidity with $3 trillion in new debt since Obama took office. Republicans lost their right to manage this country after six years of deficit expenditure under Bush, doubling our National Debt to $10 trillion, and the socialist Prescription Drug Coverage for Seniors. Neither Party has thus shown an ability to correct our current credit fueled Economy.

The Founders in their wisdom created a Federal Govt. with appropriated taxes and State Representation in the Senate in order to keep the Federal Government financially in check. Is it any wonder then that after abandoning that setup in 1912, with the advent of the 17th Amendment, that America has since suffered Economically via inflation. Before FDR, the only time there was debt was during the Civil War when Lincoln took the dollar off the gold standard, creating the "greenback." From 1800 to after 1900, there was 0% inflation in this country. Since the Federal Reserve was created, our dollar has lost 99% of its value because of inflation. Since the adoption of the 17th Amendment, the Federal Govt. has managed to rack up a debt burden equating 82% of our GDP from a debt burden of 0%.

If you think putting your money into a Savings Account is going to keep you above inflation, you're ignorant. Not only will a bank never pay you more than 'true' inflation [true because the Govt. picks and chooses what goes into the inflation calculation], whatever interest you make on your deposit will be taxed with Federal and State Income Taxes thus indirectly and directly taking away your wealth year after year. There was a point in time in this country when Benjamin Franklin's adage, "A penny saved, is a penny earned" meant something, but with inflation and taxes that penny isn't worth a penny next year.

It's time to end the ignorance. It's time to stop the apathy. Things are the way they are because of apathy, and when you tell yourself there's nothing you can do, you're contributing to the apathy. We need a government that respects our contract with it, that doesn't infringe on our liberties, that doesn't usurp our rights to Life, Liberty and the Pursuit of Happiness. It's time to Liberate our Republic!!! It's time to throw out the Republicans and Democrats! It's no longer a debate about how big or how small, it's about how much government is needed. It's time to vote for Liberation!!!