Good afternoon, and welcome to our tea get collectively! Let me begin with a quote from Thomas Jefferson: "When governments fear of us, there could also be liberty.
At our tea get collectively proper now, we’re letting our authorities know that we do not fear it, and that we taxpayers will do irrespective of it takes to guard our liberty.
I was requested to talk proper now in regards to the big progress in authorities spending and taxation. I will make clear why it’s essential to care about it, and the best way loads of a menace it is to our life-style.
Let's analysis present spending packages utilized 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 specific pursuits)
· $ three.6 trillion for the annual funds
And that's merely residence spending! On the present G20 summit, Obama devoted America to very giant overseas spending, along with:
– $ 1 trillion for the Worldwide Monetary Fund and the World Monetary establishment
– $ 845 billion for the United Nations' Millennium Progress Targets, recognized proper right here inside the US as a result of the World Poverty Act
– Possibly trillions further for a abroad help program known as Explicit Drawing Rights
– Possibly trillions further for the initiatives of the UN Native climate Change Conference
The good news is that the G20 overseas spending proposals have not however been accredited by Congress. The unhealthy data is that Congress is managed by Nancy Pelosi and Harry Reid.
The extra extreme data is that none of this money actually exists! Listed below are just some horrifying data to position these spending proposals in perspective:
· The nationwide debt on the end of Obama's first time interval will seemingly be bigger than our complete Gross House Product.
· Do you have to spend $ 2 million every single day all through every single yr from the start of Christ until proper now, you may nonetheless not have as lots as Obama's funds deficit deliberate for the approaching yr.
· Do you have to added up all of the debt gathered by all of the presendants from George Washington by means of George W. Bush in the course of 234 years, Obama's proposed debt exceeded that amount in merely his first four-year time interval.
· And proper right here's the one which bought to frighten every taxpayer to demise: If the federal authorities wanted to account for its funds like a private enterprise, its true deficit is unquestionably $ 65 trillion, which exceeds the GDP of all of the world. That’s due future obligations, like Social Security and Medicare benefits liabilities, are totally unfunded. There’s not a single penny saved for these packages, nonetheless we’re already devoted to the spending.
So, what are we getting for these trillions and trillions of ? Proper right here's a sampling:
· We’re going to get nothing for the trillions Obama has devoted to spend on UN and IMF initiatives, aside from in another case completely different worldwide places may accept Obama's apology for American vainness.
· We’re going to make a $ 634 billion down value on nationalized properly being care, for which we’ll get rationing of firms and actually healthful illegal immigrants.
· We’re going to get 32 new authorities departments at a price of $ 136 billion. That’s really:
– 32 new buildings in Washington
– 32 new staffs of paper pushers
– 32 new reams of pointers and legal guidelines
– 32 further bureaucratic assaults on our liberty
– 32 further firms that may certainly not die, if Reagan was correct about authorities bureaucracies being the closest issue to eternal life that we have
· States will get $ 60 billion to increase their welfare payments, for which you may get a bill out of your state or native authorities when the stimulus money runs out.
· 60.7 million people who do not pay federal earnings taxes will get a tax credit score rating from the federal authorities. Speaking in plain English, which signifies that they’re going to get welfare. Illegal aliens will seemingly be eligible for this credit score rating.
· AIG obtained $ 180 billion in bail-out funds, of which $ 11.9 billion was forwarded to Societe Generale, a monetary establishment in France; $ 11.eight billion to Deutsche Monetary establishment in Germany; And $ eight.5 billion to Barclay's, a monetary establishment in England. I am questioning if any American taxpayers will get a "thanks" card for this. Probably Obama will bow to the leaders of these worldwide places on his subsequent go to.
· ACORN will get $ 750 million, which may get us far more voter fraud than what ACORN is at current being charged with in 14 states.
· We’re going to get further of Large Brother inside the kind of 40 million good utility meters to handle energy utilization in our properties.
· We’re going to get 600,000 further federal, state, and native authorities workers.
· One issue you will not get is your 401 (okay) tax deductions. House Democrats are looking at eliminating this as a cost-savings measure.
Let's be reliable. These spending packages won’t be about stimulating the monetary system. Truly, the non-partisan Congressional Funds Office reported that Obama's stimulus plan would hurt the monetary system further in the long run than if he did nothing. No, these packages are about "benefiting from a catastrophe", as Hillary, Barack, and Rahm have suggested us. They’re about spending an avalanche of money on the pent-up leftist agenda. As a substitute of dropping a catastrophe, they’re going to waste your money on:
· Rising the size and scope of the federal authorities
· Transferring wealth from the Have's to Have-Not's
· Punishing the coal, oil, and automotive industries whereas jousting with the "World Warming" windmill
· Rewarding labor unions, coach unions, and authorities worker unions for supporting the Democrats
· Taking administration of the banking and financial system of the US
· And nationalizing medical insurance coverage
Nevertheless what's far more horrifying than our money being spent on this overtly socialist agenda is the question of the place this money goes to return from.
The federal authorities is financed in three methods. All three of them are going to empty your wealth, the wealth of your youngsters, and the wealth of your youngsters's youngsters. Listed below are the three methods our authorities is funded:
· First, the federal authorities is financed by borrowing money (this assumes that the Chinese language language and completely different foreigners want to proceed lending to us, which is not sure):
O The difficulty with that’s that we nonetheless ought to pay curiosity on the debt. It’s a big time bomb, significantly when inflated kicks in and charges of curiosity skyrocket. A $ 15 trillion nationwide debt at 10% curiosity would require $ 1.5 trillion in curiosity funds yearly. This have to be paid with taxes. Assuming that there are 100 million taxpayers, each one should pay $ 15,000 in taxes yearly merely to cowl curiosity!
– Second, the federal authorities is funded by amassing taxes:
– The difficulty with that’s that even when the federal authorities confiscated 100% of the earnings of everyone making $ 75,000 or further, it would barely have ample cowl to deliberate payments for 2009. It is clear that the federal authorities should come after the middle class To pay for his or her spending orgy.
– Third, the federal authorities is financed by creating inflation to cowl what cannot be borrowed or taxed:
– The difficulty with that’s that the money the federal authorities prints is utilized by the federal authorities to cowl its deficit, whereas your property get devalued in consequence. It is merely one different kind of taxation that impacts every single specific particular person.
Do you have to most well-liked the Jimmy Carter years, you may love the place we’re headed under Obama. Proper right here was our monetary scorecard in 1980, which was Carter's ultimate yr in office:
· Charges of curiosity had been at 21%
· Inflation was at 13%
· Unemployment was at 7%
· The combination of these triggered us to invent a model new phrase: "Stagflation"
After four years of Obama's spending and tax insurance coverage insurance policies, I'm afraid our monetary scorecard will seem like Carter's – or worse.
It's fascinating to note that Republican Senator Judd Gregg from New Hampshire turned down Obama's provide to be Secretary of Commerce. He did this on account of he had no faith in Obama's monetary insurance coverage insurance policies. Truly, here is what he wanted to say about Obama's funds:
· "This funds represents a clear and present hazard to the financial properly being of our nation".
· "This plan spends an extreme quantity of, taxes an extreme quantity of, and borrows an extreme quantity of."
· "It is an enormous progress of debt, an unsustainable stage of spending, and a deficit-generating machine that may bankrupt the nation".
Ronald Reagan suggested us that "A authorities sufficiently large to supply us each little factor we wish is a authorities sufficiently large take away from us each little factor that we have."
Margaret Thatcher suggested us that "The problem with socialism is that you simply simply ever run out of various of us's money."
Embarrassingly, we’re being warned by former Socialist worldwide places to steer clear of the an identical errors that they made.
· The Czech Prime Minister known as the US stimulus bundle the "choice to hell".
· Russian President Vladimir Putin warned "Excessive intervention in monetary train and blind faith inside the state's omnipotence is a mistake."
· Even Communist China warned the US to not devalue the dollar by means of reckless authorities spending.
What’s going on in Washington threatens to rework America from a constitutional republic of restricted authorities and free and unbiased residents proper right into a European socialist state that may chain all of the world to our monetary establishment accounts. Our authorities is popping into further burdensome than the automated British monarchy that we revolted in opposition to 2 centuries up to now.
Thomas Jefferson warned us that "The pure progress of points is for liberty to yield and authorities to attain ground."
His warning is an urgent one for us proper now. We’re at a dangerous tipping stage in our democracy. Roughly fifty p.c of eligible voters pay federal earnings taxes, and the remaining fifty p.c do not. As quickly as that ratio turns into unfavorable for us taxpayers, we are going to seemingly be uncovered to an electoral major that would choose to simply vote our wealth away. We’re starting to see this now now, with Obama, Pelosi, and Reid spending a trillion proper right here and a trillion there.
I'm proper right here sooner than you proper now, as a median American taxpayer, on account of I am taking a stand.
I'm accomplished apologizing for the American values of liberty, specific particular person rights, and private property. The US Construction and the Declaration of American Independence are the two largest political paperwork ever written.
I'm accomplished believing that we have to surrender our rights for our political system to work. There can be no compromise with my life, my liberty, and my correct to pursue happiness. There can be no compromise with the Socialists and radicals in Washington.
It's time to take a stand, to make our voices heard, to drawback our leaders, and to refuse to once more down. The 2010 election cycle is our different to launch one different shot heard around the globe, an identical to the shot heard around the globe that American patriots launched in 1775 at Lexington Inexperienced in Massachusetts.
We taxpayers should turn into activists! The radicals which have taken over the federal authorities have a powerful grassroots group. Using groups like ACORN, Media Points, 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 needs and needs fulfilled.
We have now to stand up and confront this socialist menace to our nation now! If Obama, Reid, and Pelosi are nonetheless working this nation eight years from now, the American life-style will seemingly be irretrievably misplaced. The packages that they are implementing day after day in Washington will seemingly be nearly unimaginable to reverse. As quickly as nationalized properly being care is completely utilized, there’ll seemingly be no undoing it. As quickly as illegal immigrants are washed all through the border and given free coaching, properly being care, and completely different social benefits, there’ll seemingly be no undoing it.
Vice President Joe Biden tells us that "it's our patriotic obligation to pay further taxes." I say that it is our patriotic obligation to remove these tyrants from office!
It's tea get collectively time!