What will be paid?

July 30, 2011

Ask the President: What are you going to do with $181 Billion Dollars if you’re not paying bills?

President Obama keeps telling us what might not be paid if the debt ceiling isn’t raised.

That’s the wrong answer to a question that America isn’t even asking.
In this new iCaucus Video, we call on the President to answer the real question:

“Mr. President, if the debt ceiling isn’t raised and you’re not planning on paying our debt obligations, or social security, or medicaid, or our military personnel…even though you will have more than enough money to do so…then what’s more important and what will you be paying instead with the $180 billion that the government will keep collecting every month?”

Advertisements

Cut, Cap, Balance

July 17, 2011

Senator Lee introduces the “Cut, Cap & Balance Act” (July 7, 2011)

Senators Lee, Vitter, and Paul explain what revenue increases are acceptable

Senator Lee explains why future Congress cannot be bound by today’s Congress…unless we have the balanced budget amendment

click here for 1-page summary

click here for Text of the bill

click here for Republican Study Committee’s CCB proposal and background

Action we can all take:
1. Go here to read about Cut/Cap/Balance and sign the pledge
http://www.cutcapandbalanceact.com/
2. Then contact our Representatives and Senators
http://www.house.gov/representatives/
http://www.senate.gov/general/contact_information/senators_cfm.cfm
3. Make sure to call Mitch McConnell’s too. His package is unacceptable.
Say NO to giving the President a blank check for political expediency. 202-224-2541
4. And call Harry Reid and demand that he bring it to the Senate floor.


No Debt Increase #5: Jobs and the Economy

July 8, 2011

From the TEA Party Patriots:

SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!

Click Here to Take Action Now! 

REASON #5

Overspending results in a rising national debt, which hinders jobs and the economy.

Unemployment recently rose again to 9.1%, leaving 13.9 million Americans out of work. The President would like Americans to believe that blowing through almost one trillion dollars in “stimulus” has increased our economic growth and put people back to work. Well, even the “intellectual authorities” at Harvard and Stanford are saying that the pork-laden stimulus bill did nothing for the economy or for jobs.

President Obama is just acting out his part as a left-wing ideologue, where he wildly overspends so that he creates an almost existential debt crisis, leading to class warfare rhetoric and a call to hike taxes. Every rational and reasonable person (as well as those who know the tiniest bit about basic economics) understands that we absolutely cannot raise taxes to pay off the credit card debt that has been racked up by power-hungry politicians. And what is the real reason behind all of that overspending? Bigger, more intrusive government (see Obamacare). When government is too big, it spends too much; when government is too big, its debt grows too large; when government is too big, the economy falters and Americans can’t get back to work.

Politicians talk a good game about caring for “the middle class” or “the poor” or  “the children,” or whatever other part they can cut off of the American body, to pit us against each other. Don’t let them do it. We are all Americans and we ALL benefit from a strong, prosperous economy. The politicians are the ones strangling the life out of the economy! If they really cared about the people who make up all of those groups, they would get out of the way and allow Americans to create jobs for other Americans. But that can only happen when we shrink government and cut spending – and that will only happen when we refuse to raise the debt ceiling. 

This is the final email in the series of reasons not to increase the debt limit. The problem, while difficult for the Washington elite, is really quite simple. We MUST stop the spending and we MUST stop it now! Click below to navigate to our Action Center where you can call your Members of Congress and let your voice be heard on the ceiling. The clock is ticking and Washington elites will soon be done with their posturing and come out from the back room with a charade of a deal that makes it look like both sides fought for the right thing. The RIGHT thing is to stop spending money that we are borrowing from our children and grandchildren. 


Click Here to Take Action Now!

Reason #1: We Must Prioritize Our Spending 

Reason #2: If They Raise It, They Will Spend It 

Reason #3: We’ve Been Warned

Reason #4: We Don’t Have to Reinvent the Wheel on Spending 

Enough is enough. 

Sign It!

Share It!

TAKE ACTION!

Enough is enough.

  

America deserves better.


No Debt Increase #4: We Don’t Have to Reinvent the Wheel

July 7, 2011

From the TEA Party Patriots:

SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!

 REASON #4

We don’t have to reinvent the wheel on spending.

Some Americans are old enough to remember a time when the federal government was smaller, leaner, and more manageable. Some Americans remember when most of the decisions were made closer to home, either by the individual himself, his family, the local community, or the state. Amazingly, even some younger Americans can recall a more limited government because we used to have one – even in the last fifteen years! This isn’t rocket science. It’s not like we are asking our elected officials to come up with some totally new and untested budget. We know, for a fact, that the federal government has functioned perfectly fine with a smaller budget and less spending. There are old budgets we can revert back to as well as other actions that would allow us to pay our obligations without raising the debt ceiling or raising taxes.

  • It would take about $750 billion in spending cuts by the end of this fiscal year (ending September 30) to get us back to 2003 spending levels, which would allow us to avoid default and pay for the rest of government, all without raising the debt ceiling or increasing taxes.
  • The Federal Government holds more than $1 trillion in highly liquid assets that should be sold to the private sector, and doing this now would allow the cuts to be phased in more slowly.
  • If we even rolled spending back to the Clinton-era budget we could make our obligations without raising the debt ceiling or increasing taxes.
  • America’s politicians have a spending problem NOT a revenue problem.  There is no reason to raise taxes or the debt ceiling except to grow government.

How can we actually make cuts of this size? Here are just a few examples:

  • Downsizing Government by the Cato Institute – a department-by-department guide to downsizing the federal government.
  • Strong America Now – a plan that will save $500 billion a year and balance the budget by 2017 with no new taxes, reducing the debt along the way.
  • Government Accountability Office (GAO) report – found hundreds of duplicated programs and agencies that could be consolidated, saving taxpayers at least $100 to $200 billion. (Though probably more as we know that when businesses are forced to deal with multiple agencies for the same issue, it costs them a lot of money. Actual report here.)

When the politicians try to scream and throw temper tantrums about how spending cuts will damage the economy and throw Grandma to the wolves, just remember that we’ve always spent less than we spend today, and Grandma was just fine. The question is, would you rather have America be $14.3 trillion in debt or $16.3 trillion in debt. That’s the choice they are offering, but don’t be fooled. We know there is another choice, and it’s called CUT SPENDING and DON’T RAISE THE DEBT CEILING.

Reason #1: We Must Prioritize Our Spending 

Reason #2: If They Raise It, They Will Spend It 

Reason #3: We’ve Been Warned

Enough is enough.

Sign It!

Share It!

Enough is enough.

 


No Debt Increase #3: We’ve Been Warned

July 3, 2011

From the TEA Party Patriots:

SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!

REASON #3

We’ve been warned to stop the reckless spending.

The spending addicts in Washington DC would have you believe that our debt is unconnected to spending. They would like you to think that with some fancy pledges and gimmicks they can control the debt and keep it from spiraling into oblivion. They want you to ignore that overspending is the driver behind the debt.

Why would they want you to believe this? Because if you do, then they can continue to spend, spend, spend, spend. Sadly, most of our elected officials care more about their own power than the fate of this nation. In fact, a CBS poll recently found that 80% of Americans believe that members of Congress work to satisfy special interests rather than their constituents.

The reason so many Americans feel this way is because the politicians’ actions leave no room for any other possibility. And American constituents are not the only ones that have come to this conclusion.

  • Moody’s and Standard & Poor’s have warned us that our credit rating will be downgraded if we do not control our debt.
  • If the nation’s credit rating goes down, borrowing money becomes more expensive, making our existing debt crisis even worse.
  • China issued a statement, as our primary lender, saying that the US must rein in spending now, or will likely face abrupt and severe austerity measures.

Here’s a doozy of a fact that no one in DC is acknowledging:

When the abnormally low interest rates normalize (i.e. increase to normal rates), our annual interest expenses will skyrocket – making mincemeat out of any budget deal brokered today! Right now the average cost of borrowing for our Treasury Department is 2.5 percent, while the average over the last couple of decades was 5.7 percent! (Please read the article linked above in its entirety.)

Now get thisOur interest expenses, over ten years, will jump to $4.9 trillion once interest rates “normalize,” and the Republicans are “pledging” a decrease of $2 trillion in spending over ten years… so that $2 trillion in savings will be swamped by $4.9 trillion in new interest expenses!

NO DEAL.

We are now at the point where the entities that lend money to us are starting to get nervous because they can see the writing on the wall. The politicians try to scare the American people by using rhetoric like “draconian cuts,” but imagine how “draconian” the cuts will be when our creditors decide suddenly to stop lending us money. Forty cents of every federal dollar is borrowed. Either we cut spending our way, or our creditors will force us to do it their way.  Which way do you prefer?

Click Here for Reason #1: We Must Prioritize Our Spending 

Click Here for Reason #2: If They Raise It, They Will Spend It

Enough is enough.

Sign It!

Share It!

America deserves better.

Thanks for your continued support!!

Donate to Tea Party Patriots. 


No Debt Increase – Reason #2

June 28, 2011

SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!

 

REASON #2

If they raise it, they will spend it.

Politicians in both parties want us to see the concern in their eyes and hear the emotion in their voices as they speak of an “unsustainable path” of spending that we are on. Unfortunately for them, we know the difference between words and actions. And we know, from experience, that if they get their hands on more money, they will spend it. Therefore, if we raise the debt ceiling by $2 trillion, as they want to do, all we can say for sure is that we will be $16.3 trillion in debt instead of $14.3 trillion. How exactly does that remove us from the unsustainable path?

 

The federal government spends over $114,000 per second. The median household annual income is approximately $49,777. Think about this. If your annual family income were $50,000, you would spend about one-sixth of one cent per second. It would take your family around six seconds to spend one penny! In the same time it takes your family to spend one measly cent, the federal government will spend over $700,000. And in the politicians’ eyes, it is your family that should fork over even more money every year.

(Just for fun, how much do the “wealthy” spend per second? You know, those greedy people that need to “pay their fair share” that earn $250,000 annually? Yeah, they spend four-fifths of one penny per second – not even one whole cent per second. And keep in mind that most families don’t even spend their entire salaries. Our estimations don’t take into account taxes or money not spent due to savings and retirement accounts, etc. So our numbers here only reflect a hypothetical family that could spend every penny they earn.)

Doesn’t this make you wonder what they’re spending all that money on? Wouldn’t you like to know if all of that spending is legitimate? When the government spends $699,999.99 more than your family every six seconds, you have a right to ask questions and to know if they are spending your family’s money wisely. And you most definitely have the right to demand that the spending spree be stopped. NOW.

 

Click Here for Reason #1: We Must Prioritize Our Spending 

Enough is enough.

  

America deserves better.


No Debt Increase – Reason #1

June 28, 2011

SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!

REASON #1

We absolutely will not default if we prioritize our spending.

President Obama and politicians of both parties in DC want us to believe that America will default on our obligations if we do not raise the debt ceiling again. They think that we don’t understand the situation well enough, so we should just allow them to do what they want to do. They believe that we are so naïve that we will believe them when they promise to make spending cuts… someday.

If their big reason for raising the debt ceiling is the claim that we will default, then we’ve got good news for the politicians!

  • Tax revenues for this year are projected to be around $2.2 trillion.
  • Interest payments for this year amount to approximately $300 billion.
  • If we pay the interest first, that leaves us with about $1.9 trillion to spend on our most important priorities, and we avoid default.
  • If we enact Senator Toomey’s Full Faith and Credit Act (S. 163) directing the Treasury to pay principal and interest on the debt held by the public before all other obligations it would ensure that the nation does not default.

Think of it this way:

Your annual income is $44,000. Your annual interest payment on your debt is $6,000. This would leave you with $38,000. Now if you had been living beyond your means for a while it might be hard to go back to living on that $38,000. But you would make it work.

And that’s the difference between you and a bunch of spend-aholic politicians.

You would cut out the unnecessary expenditures, the things you’d like but just can’t afford, and you would probably work to get out of debt.

If America defaults on her obligations, make no mistake about it… IT WOULD BE DELIBERATE.

Mr. Timothy Geithner says that we need to consider tax increases along with raising the debt ceiling. The truth is that the power to prioritize our spending is in his hands. It is no wonder that Mr. Geithner of all people would be the one to say that we must borrow more money to pay our debt obligations. He is no stranger to skipping out on paying his debt obligations. Mr. Geithner, this time it is not your money… this time it is the American people’s money!

Tell Congress that you want them to pass the Full Faith and Credit Act (S 163 in the Senate and HR 421 in the House) so that America’s credit doesn’t hang in the balance while politicians do their familiar dance with each other. The President, the Secretary of Treasury, and Congress all have the ability to secure our credit.

Our states prioritize their spending by applying the first portion of their revenue to their debt. The federal government can, and MUST, do the same. 

Enough is enough. 


America deserves better.

Thanks for your continued support!!

Donate to Tea Party Patriots.

or

Mail Your Donation to:

TEA PARTY PATRIOTS

P.O. BOX 220183

CHANTILLY, VA 20153-0183