Deficit Spending – You should be scared
December 12, 2009 by Charlie
Filed under Uncategorized
Below is a story sent to me from Mike Sabot, Mike is very concern like most of us about our country and the direction it is headed. I know Mike has been very active and set up local tea parties event. I the pleasure to met and like Mike on a personal base and believe in most of his ideas. At this point our country needs more people like Mike. Please read his story below………………….
The Tea Party goers, turned out in the millions across our county protesting
Out of Control Spending by our Government this year. Our president has said
that the current deficit spending was unsustainable.The graph below was create with data provide by the U.S. Government showing
spending and tax receipts from 1962 and projected 5 years to 2014.
Data provided courtesy of your Tax dollars and www.data.govTo use a favorite word of our President, the projected rate in the next 5
years of growth in government spending and tax increases is un-presidented.
In the current year there are 319 tax receipt catagories, in 2011 a new tax
category appears, and it jumps to the top of all catagories for Taxes, with
only Personal Income and Corporate Taxes higher. It’s called CAP & TRADE.
They have already determined it will pass and Healthcare is not even
included.Financial ratings services have said that the US AAA rating is in danger of
being downgraded in the next few years and there are increasing number of
counties calling for the removal of the US dollar as the world reserve
currency.This week Blue Dog and so called Fisical Conservitive Congressman Sanford
Bishop (D-GA) voted for an Omnibus bill of more than $1 trillion dollars and
more than 3,000 earmarks. This bill increases government agencies on the
average of 14% while the country’s GDP is going negitive. That 14% is not
included in the above graph. Want to bet the President will break his
promise again, on earmarks and sign the bill?And in an email from Senator Johnny Isakson (R-GA) today, he says “Long-term
projections show an unsustainable imbalance between government spending and
revenues. Gross debt is likely to exceed 100 percent of GDP within the next
few years”.They are going to raise the debt ceiling in the next week, first it was
going to be $1.2 Trillion but because they thought it would need to be
raised again in July and with elections in November, that would be a no-no,
they are going to make it closer to $2 trillion and hope the voters won’t
remember. They also hoping they won’t have to raise it again until after
the elections.So unless we kick out every tax and spend Democrat, every RINO, every so
called fiscal conservative that votes only to slow government growth but
not cut government, your children and grandchildren won’t have to worry
about paying off the debt we are creating today, because there won’t be a
dollar.Mike Sabot
Lee County Georgia
