Good afternoon, and welcome to our tea occasion! Let me start with a quote from Thomas Jefferson: "When governments fear people, there is liberty. When the people fear the government, there is tyranny."
At our tea occasion in the present day, we’re letting our authorities know that we don’t concern it, and that we taxpayers will do no matter it takes to protect our liberty.
I used to be requested to speak in the present day in regards to the large growth in authorities spending and taxation. I’ll clarify why it’s best to care about it, and the way a lot of a risk it’s to our lifestyle.
Let's evaluation latest spending applications applied by the federal authorities:
· $ 700 billion for TARP I
· $ 750 billion for TARP II
· $ 819 billion for the Stimulus Bill
· $ 410 billion for the Omnibus Spending Bill (with 9000 earmarks for particular pursuits)
· $ three.6 trillion for the annual funds
And that's simply home spending! At the latest G20 summit, Obama dedicated America to very large abroad spending, together with:
– $ 1 trillion for the International Monetary Fund and the World Bank
– $ 845 billion for the United Nations' Millennium Development Goals, recognized right here within the US because the Global Poverty Act
– Perhaps trillions extra for a international assist program referred to as Special Drawing Rights
– Perhaps trillions extra for the initiatives of the UN Climate Change Conference
The excellent news is that the G20 abroad spending proposals haven’t but been accepted by Congress. The dangerous information is that Congress is managed by Nancy Pelosi and Harry Reid.
The worse information is that none of this cash really exists! Here are a number of irritating details to place these spending proposals in perspective:
· The nationwide debt on the finish of Obama's first time period can be better than our whole Gross Domestic Product.
· If you spend $ 2 million each single day throughout each single yr from the start of Christ till in the present day, you’ll nonetheless not have as a lot as Obama's funds deficit deliberate for the approaching yr.
· If you added up all the debt accrued by all the presences from George Washington via George W. Bush in the middle of 234 years, Obama's proposed debt exceeded that quantity in simply his first four-year time period.
· And right here's the one which purchased to frighten each taxpayer to loss of life: If the federal government needed to account for its funds like a personal enterprise, its true deficit is definitely $ 65 trillion, which exceeds the GDP of the complete world. This is as a result of future obligations, like Social Security and Medicare advantages liabilities, are utterly unfunded. There is just not a single penny saved for these applications, however we’re already dedicated to the spending.
So, what are we getting for these trillions and trillions of ? Here's a sampling:
· We will get nothing for the trillions Obama has dedicated to spend on UN and IMF initiatives, apart from in any other case different nations might settle for Obama's apology for American vanity.
· We will make a $ 634 billion down cost on nationalized well being care, for which we are going to get rationing of providers and really wholesome unlawful immigrants.
· We will get 32 new authorities departments at a value of $ 136 billion. This is absolutely:
– 32 new buildings in Washington
– 32 new staffs of paper pushers
– 32 new reams of guidelines and rules
– 32 extra bureaucratic assaults on our liberty
– 32 extra businesses that may by no means die, if Reagan was proper about authorities bureaucracies being the closest factor to everlasting life that we’ve got
· States will get $ 60 billion to extend their welfare bills, for which you’ll get a invoice out of your state or native authorities when the stimulus cash runs out.
· 60.7 million individuals who don’t pay federal revenue taxes will get a tax credit score from the federal government. Speaking in plain English, which means that they may get welfare. Illegal aliens can be eligible for this credit score.
· AIG received $ 180 billion in bail-out funds, of which $ 11.9 billion was forwarded to Societe Generale, a financial institution in France; $ 11.eight billion to Deutsche Bank in Germany; And $ eight.5 billion to Barclay's, a financial institution in England. I’m wondering if any American taxpayers will get a "thank you" card for this. Maybe Obama will bow to the leaders of those nations on his subsequent go to.
· ACORN will get $ 750 million, which could get us much more voter fraud than what ACORN is at present being charged with in 14 states.
· We will get extra of Big Brother within the type of 40 million sensible utility meters to manage power utilization in our houses.
· We will get 600,000 extra federal, state, and native authorities workers.
· One factor you may not get is your 401 (okay) tax deductions. House Democrats are taking a look at eliminating this as a cost-savings measure.
Let's be sincere. These spending applications usually are not about stimulating the economic system. In truth, the non-partisan Congressional Budget Office reported that Obama's stimulus plan would harm the economic system extra in the long term than if he did nothing. No, these applications are about "taking advantage of a crisis", as Hillary, Barack, and Rahm have advised us. They are about spending an avalanche of cash on the pent-up leftist agenda. Instead of losing a disaster, they will waste your cash on:
· Increasing the scale and scope of the federal government
· Transferring wealth from the Have's to Have-Not's
· Punishing the coal, oil, and automotive industries whereas jousting with the "Global Warming" windmill
· Rewarding labor unions, trainer unions, and authorities employee unions for supporting the Democrats
· Taking management of the banking and monetary system of the US
· And nationalizing medical insurance
But what's much more horrifying than our cash being spent on this overtly socialist agenda is the query of the place this cash goes to come back from.
The federal authorities is financed in 3 ways. All three of them are going to empty your wealth, the wealth of your youngsters, and the wealth of your youngsters's youngsters. Here are the 3 ways our authorities is funded:
· First, the federal government is financed by borrowing cash (this assumes that the Chinese and different foreigners wish to proceed lending to us, which is unsure):
O The drawback with that is that we nonetheless should pay curiosity on the debt. This is an enormous time bomb, particularly when inflated kicks in and rates of interest skyrocket. A $ 15 trillion nationwide debt at 10% curiosity would require $ 1.5 trillion in curiosity funds yearly. This must be paid with taxes. Assuming that there are 100 million taxpayers, every one must pay $ 15,000 in taxes every year simply to cowl curiosity!
– Second, the federal government is funded by gathering taxes:
– The drawback with that is that even when the federal government confiscated 100% of the revenue of everybody making $ 75,000 or extra, it might barely have sufficient cowl to deliberate bills for 2009. It is obvious that the federal government must come after the center class To pay for his or her spending orgy.
– Third, the federal government is funded by creating inflation to cowl what can’t be borrowed or taxed:
– The drawback with that is that the cash the federal government prints is utilized by the federal government to cowl its deficit, whereas your belongings get devalued because of this. It is simply one other type of taxation that impacts each single individual.
If you favored the Jimmy Carter years, you’ll love the place we’re headed beneath Obama. Here was our financial scorecard in 1980, which was Carter's final yr in workplace:
· Interest charges have been at 21%
· Inflation was at 13%
· Unemployment was at 7%
· The mixture of those brought about us to invent a brand new phrase: "Stagflation"
After 4 years of Obama's spending and tax insurance policies, I'm afraid our financial scorecard will seem like Carter's – or worse.
It's fascinating to notice that Republican Senator Judd Gregg from New Hampshire turned down Obama's supply to be Secretary of Commerce. He did this as a result of he had no religion in Obama's financial insurance policies. In truth, here’s what he needed to say about Obama's funds:
· "This budget represents a clear and present danger to the financial health of our country".
· "This plan spends too much, taxes too much, and borrows too much."
· "It is a massive expansion of debt, an unsustainable level of spending, and a deficit-generating machine that will bankrupt the country".
Ronald Reagan advised us that "A government big enough to give us everything we want is a government big enough take away from us everything that we have."
Margaret Thatcher advised us that "The trouble with socialism is that you ever run out of other people's money."
Embarrassingly, we’re being warned by former Socialist nations to keep away from the identical errors that they made.
· The Czech Prime Minister referred to as the US stimulus bundle the "way to hell".
· Russian President Vladimir Putin warned "Excessive intervention in economic activity and blind faith in the state's omnipotence is a mistake."
· Even Communist China warned the US to not devalue the greenback via reckless authorities spending.
What is occurring in Washington threatens to rework America from a constitutional republic of restricted authorities and free and impartial residents right into a European socialist state that may chain the complete world to our financial institution accounts. Our authorities is turning into extra burdensome than the autocratic British monarchy that we revolted in opposition to two centuries in the past.
Thomas Jefferson warned us that "The natural progress of things is for liberty to yield and government to gain ground."
His warning is an pressing one for us in the present day. We are at a harmful tipping level in our democracy. Roughly fifty p.c of eligible voters pay federal revenue taxes, and the remaining fifty p.c don’t. Once that ratio turns into unfavorable for us taxpayers, we can be uncovered to an electoral main that would select to easily vote our wealth away. We are beginning to see this now now, with Obama, Pelosi, and Reid spending a trillion right here and a trillion there.
I'm right here earlier than you in the present day, as a mean American taxpayer, as a result of I’m taking a stand.
I'm achieved apologizing for the American values of liberty, particular person rights, and personal property. The US Constitution and the Declaration of American Independence are the 2 best political paperwork ever written.
I'm achieved believing that we’ve got to give up our rights for our political system to work. There could be no compromise with my life, my liberty, and my proper to pursue happiness. There could be no compromise with the Socialists and radicals in Washington.
It's time to take a stand, to make our voices heard, to problem our leaders, and to refuse to again down. The 2010 election cycle is our alternative to launch one other shot heard around the world, similar to the shot heard around the world that American patriots launched in 1775 at Lexington Green in Massachusetts.
We taxpayers must turn out to be activists! The radicals which have taken over the federal authorities have a strong grassroots group. Using teams like ACORN, Media Matters, and MoveOn.org, the radicals have flooded the voting cubicles with armies of "victims" who will vote Democratic in hopes of leeching onto American taxpayers to get all of their wants and desires fulfilled.
We want to face up and confront this socialist risk to our nation now! If Obama, Reid, and Pelosi are nonetheless working this nation eight years from now, the American lifestyle can be irretrievably misplaced. The applications that they’re implementing day after day in Washington can be virtually inconceivable to reverse. Once nationalized well being care is totally applied, there can be no undoing it. Once unlawful immigrants are washed throughout the border and given free training, well being care, and different social advantages, there can be no undoing it.
Vice President Joe Biden tells us that "it's our patriotic duty to pay more taxes." I say that it’s our patriotic responsibility to take away these tyrants from workplace!
It's tea occasion time!