19. April 2010 by Democratic Party News - The News of the Democratic Party.

This is a bill for your share of U.S. debt thanks to the added reckless spending of Obama and his administration.

ACCOUNT HOLDER Joe Taxpayer Anytown, USA	Your Share: $89,672.33
ACCOUNT INFORMATION Account Number 000001111122222 Credit Limit Exceeded Available Credit $0 Lender of Record China Payment Due Date April 15th	ACCOUNT SUMMARY Previous Balance $12,507,536,462,861.04 Interest Accrued $20,787,112,806.56 Additional Borrowing $257,342,448,757.10 Current Balance $12,764,878,911,618.14 Your Share $89,672.33

“ACCOUNT SUMMARY” SECTION

Previous Balance (As Of March 1, 2010):                     
$12,507,536,462,861.04 (“The Debt To The Penny,” TreasuryDirect, Accessed 4/7/10)

Interest On The Public Debt In March:
$20,787,112,806.56 (“Interest Expense On Debt Outstanding,” TreasuryDirect, Accessed 4/7/10)

Additional Borrowing In March:
$257,342,448,757.10 (“The Debt To The Penny,” TreasuryDirect, Accessed 4/7/10)

Current Balance (As Of April 1, 2010):
$12,764,878,911,618.18 (“The Debt To The Penny,” TreasuryDirect, Accessed 4/7/10)

Your Share:
$89,672.33 (Current Balance Divided By Number Of Returns, 142,350,256: “Individual Income Tax Returns: Tax Year 2008 Preliminary Data,” IRS.gov, Accessed 4/7/10)

“TRANSACTION” SECTION

Government-Run Health Care:
$2.5 trillion (Sen. Max Baucus, Floor Remarks, 12/2/09)

FY2010 Omnibus:
$450 Billion (Brian Faler, “Congress Sends Obama Measure With 12% Average Budget Increases,” Bloomberg, 12/14/09)

GM Bailout:
$36 Billion (“The Use Of TARP Funds In Support And Reorganization Of The Domestic Automotive Industry,” Congressional Oversight Panel, 9/9/09)

Chrysler Bailout:
$11 billion (“The Use Of TARP Funds In Support And Reorganization Of The Domestic Automotive Industry,” Congressional Oversight Panel, 9/9/09)

Obama’s Stimulus:
$862 Billion (Lisa Lambert, “Factbox: The U.S. Stimulus, One Year Later,” Reuters, 2/17/10)

OTHER RECKLESS SPENDING

Record FY2010 Budget:
$3.6 trillion (Lori Montgomery, “In $3.6 Trillion Budget, Obama Signals Broad Shift Priorities,” The Washington Post, 2/27/09)

FY2009 Omnibus:
$410 Billion (Jonathan Weisman and Greg Hitt, “Obama Outlines Plan To Curb Earmarks,” The Wall Street Journal, 3/12/09)

Stimulus Funds For Overseas Manufacturers:
$1.6 billion (Jonathan Karl, “New Wind Farms In The U.S. Do Not Bring Jobs,” ABC News, 2/9/10)

Stimulus Website:
$18 million (Rick Klein, “$18M Being Spent to Redesign Recovery.gov Web Site,” ABC News’ “The Note“ Blog, 7/8/09)

Stimulus Funds For Napa Valley Wine Train:
$54 million (ABC’s “Good Morning America,” 2/2/10)

Cash For Clunkers:
$3 billion (Neil King Jr. and Andrew Grossman, “New Cash Steered To Clunkers,” The Wall Street Journal, 8/1/09)

Obama’s All Expense Paid Trip To Copenhagen Climate Summit:
$553,564 (Sharyl Attkisson, “Congress Went to Denmark, You Got the Bill,” CBS News, 1/25/10)

Posted in Federal Debt, WakeUp America, President Obama | 8 Comments »

18. February 2010 by Democratic Party News - The News of the Democratic Party.

One year ago today, President Barack Obama signed into law the first major legislation of his presidency, the Congressional Democrats’ so-called “American Recovery and Reinvestment Act.”

Obama and our fellow Democrats in Washington made many bold claims about what this $862 billion bill would do for America’s ailing economy.

Let’s see how their promises measure up to reality.

Obama Promised Unemployment Would Not Rise Above 8 Percent With $862 Billion Stimulus. (Christina Romer and Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,” 1/9/09)

REALITY: Unemployment Currently At 10 Percent. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Obama Promised His Stimulus Would Create 3.5 Million Jobs By End Of 2010. (President Barack Obama, Remarks At The Signing Of The American Recovery And Reinvestment Act, Denver, CO, 2/17/09)

REALITY: Since Obama Signed Stimulus Last February, America Has Lost 2.8 Million Jobs. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Biden Promised Stimulus Would Create Construction Jobs. “Road projects, energy projects and construction projects are being started as soon as they pass review, contracts are competitively bid and reporting systems are in place.” (Joe Biden, “What You Might Not Know About The Recovery,” The New York Times, 7/26/09)

REALITY: Since Obama Signed The Stimulus Last February, 712,000 Construction Jobs Have Been Lost. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Obama Claims Stimulus Created Manufacturing Jobs. “That’s right — the Recovery Act, also known as the stimulus bill. Economists on the left and the right say this bill has helped save jobs and avert disaster. But you don’t have to take their word for it — Talk to the window manufacturer in Philadelphia who said he used to be skeptical about the Recovery Act, until he had to add two more work shifts just because of the business it created.” (President Barack Obama, Remarks In State Of The Union Address, Washington, DC, 1/27/10)

REALITY: Since Obama Signed The Stimulus Last February, 847,000 Manufacturing Jobs Have Been Lost. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Obama Claims Stimulus Created Teaching Jobs. “Because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed — 300,000 are teachers and other education workers.” (President Barack Obama, Remarks In State Of The Union Address, Washington, DC, 1/27/10)

REALITY: Since Obama Signed The Stimulus Last February, 55,000 Education Jobs Have Been Lost. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Obama Promised Recovery Act “Will Create Good Jobs That Pay Well And Can’t Be Shipped Overseas.” (The White House, “Remarks By The President And The Vice President On The American Recovery And Reinvestment Act,” 4/13/09)

REALITY: Recently Distributed Stimulus Funds Going To Foreign Corporations Creating Jobs Overseas. “Nearly half of the $2.4 billion in federal grant money awarded Wednesday to stimulate the U.S. economy and boost the production of hybrid and electric vehicles went to six companies with ties to places as far away as Russia, China, South Korea and France. … But because so few American companies have the necessary technology, much of the money will initially go toward manufacturing electric vehicle batteries overseas.” (Jerry Seper, “Obama Sends Stimulus Aid To Foreign Firms,” The Washington Times, 8/6/09)

Obama Promised Stimulus Would Have “Responsibility and Accountability.” “‘What I will need from [U.S. Mayors] is unprecedented responsibility and accountability on all of our parts,’ Obama said. ‘The American people are watching.’” (Michael D. Shear, “Obama To Watch Cities’ Stimulus Spending,” The Washington Post, 2/21/09)

REALITY: GAO Says Transparency, Oversight Lacking When Keeping Track of Stimulus’ Effectiveness. “The Government Accountability Office said in a report that increased transparency and better oversight is needed to track stimulus money being sent to state and local governments. — ‘Questions remained about how to count jobs and measure performance under Recovery Act-funded programs,’ the report said.” (Rich Edson and Joanna Ossinger, “GAO: More Transparency Needed To Track Stimulus Money,” Fox Business, 7/7/09)

Barack Obama and his big-spending Democrat allies in the U.S. Congress, led by Nancy Pelosi and Harry Reid, have proven, their claims notwithstanding, that their kind of “Stimulus” will only run America’s economy into the ground.

And this massive transfer of wealth to the Democrats’ public sector union allies in local and state governments was just the beginning of Obamanomics — soak the private sector to feed the never-ending growth of government.

In fact, as the Obama Democrats moved on from their bloated “Stimulus” Bill to take over the American auto industry, implement Cap-and-Trade energy taxes, and socialize private health care, they made it obvious to everyone not on their gravy train that they care not a whit for the millions of unemployed who simply want a chance to earn an honest living in the free marketplace.

Americans know that the Obama has no intention of doing what will really create new jobs — reducing the punishing tax rates on American small business and investors to spur job growth and vitalize our economy.

So faced with the reality of the voters’ backlash in New Jersey and Virginia, then Massachusetts and soon the entire country, they are cloaking their next spending boondoggle as a “jobs bill.”

Sorry, but the American people have had enough of your “Stimulus” — they demand an end to the childish double talk and irresponsible wealth transfers. But no one expects the Obama-Pelosi-Reid Democrats to listen.

Posted in Federal Debt, Stimulus, Corruption And Lies, WakeUp America, President Obama | No Comments »

21. January 2010 by Democratic Party News - The News of the Democratic Party.

Some facts about the federal debt:

It took the country from George Washington until Ronald Reagan—approximately 200 years—to reach the first $1 trillion in debt.

When politicians talk about reducing the deficit, they are not talking about the debt. Politicians driven by short-term election goals focus on short-term problems. For example, President Bush once told us the problem was shrinking, pointing to  the  annual federal budget deficit, which fell from a high of $413 billion in fiscal 2004 to about $163 billion in fiscal 2007. The debt, meanwhile, continues to skyrocket.

All of the taxes you pay, including Social Security, are used for today’s government services and benefits, not saved for the future.

According to the government’s Office of Management and Budget, “there are no economic assets in the Social Security trust fund.”

According to the Government Accountability Office, if spending on government retirement programs remains on its current course and revenues grow at their historical averages, interest on the debt could skyrocket from its current 9 percent to almost 30 percent of the budget by 2040.

Fed Chairman Ben Bernake has stated that the time to solve this problem was “ten years ago.” Meanwhile, Congressional Quarterly reports that a delay of even 10 years in solving this will double the required pain to solve it.

We are now considering making the nation’s fiscal problems much worse by expanding entitlements and bail-outs.  Fiscal 2009 will add more than a trillion dollars to the federal debt via deficit spending and as much as another five trillion in unfunded liabilities.

The above sounds bad enough—but it gets even worse. Together with unfunded liabilities (all of the benefits that the government has promised to seniors, Baby Boomers, and other citizens) our nation is in the hole for nearly $62 trillion dollars.

 Politicians will tell you that the federal debt is around $12 trillion.

That’s more than $200,000 for every man, woman, and child in America, and it’s growing every day.

We have been diagnosed with fiscal cancer,” says David Walker, the retired chief auditor of the United States government. “It seems clear that our nation’s current fiscal path is unsustainable.”

As the people who pay the bills, it’s time to demand more of our political leaders—and to demand real solutions to an issue that could soon lead to a crisis. That’s what Truth in 2010 is all about. Join us today.

Why does our national debt matter?

Nonpartisan financial experts tell us that our nation faces a unique set of pressures (to spend increasing amounts on health care, to sustain retirees’ benefits with fewer active workers, and to fund the growing amount of interest on the national debt) that could culminate in a massive economic crisis.

Bob Bixby, the head of the Concord Coalition, points out that no one can predict when this crisis will erupt—or if it will unfold as “a long, slow erosion in the standard of living.” To each of us, that would mean less choices in life, less freedom, and less of the things we take for granted each day.

With its shaky financial position and dozens of unfunded promises, the United States also faces threats to national security. With its financial assets in quicksand, the US would be less able to compete on an international level and less able to counter threats from competitors abroad. As our nation slips deeper and deeper into debt, it loses its flexibility, its power, and even its ability to operate on a very basic level.

The bottom line: the national debt matters because we, the people, are the ones who pay the bills. We are the ones who will be impacted by a financial crisis. That’s why it is crucial to spread the Truth in 2010.

Posted in Federal Debt, Social Security, Federal Government | No Comments »