Fifteen Trillion In The Hole And Counting

Everybody knew we were going to have to increase our debt, you can’t solve a problem this big overnight or turn around this much government spending on a dime. However, the inexplicable and incredibly shameful reality is, the Washington criminal enterprise gang that is Congress and Obama still haven’t cut anything yet. In fact, they’re still increasing spending.

Debt Clock Strikes $15 Trillion

With the deadline on the Super Committee looming, the Treasury Department said on Wednesday the U.S. national debt crept over the $15 trillion threshold this week, providing a fresh reminder of the unsustainable amount of borrowing on the government’s bloated balance sheet.

See also:
Federal debt tops $15 trillion
National debt crosses $15 trillion mark
U.S. debt passes $15 trillion milestone… and it just keeps getting worse
National Debt Hits $15 Trillion Mark as Super Committee Flounders
US debt hits £15 trillion as cut-off looms
The $15 Trillion Super Circus
Deficit committee locked in budget stalemate
At $15 trillion in debt
GOP pounces as national debt tops $15 trillion
IN HIS OWN WORDS: Republicans SLAM Obama For Allowing The National Debt To Break $15 Trillion
U.S. National Debt Clock

Th primary obstacle to getting our fiscal house in order is that Democrats flatly refuse to cut anything. They’re bizarre notion of “cutting spending” is to cut the rate of future spending increases. How insane is that? It’s a grim milestone and if Democrats don’t accept the obvious financial reality, and soon, our creditors and the markets will force draconian austerity on all of us. This isn’t Greece, is this Greece?

/vote Republican in 2012, adult swim, get the Democrat children out of the pool

CLASS Dismissed

But, but, but, how can this be, Obamacare was such a well thought out and carefully crafted 2700 page piece of legislation?

Obama drops long-term health care program

Citing cost concerns, the Obama administration said Friday it has halted a long-term care insurance program that was part of the massive health care law passed in 2010.

Called the CLASS Act (Community Living Assistance Services and Supports), the program was canceled by Health and Human Services Secretary Kathleen Sebelius after a 19-month effort to find a way to make it financially viable.

In a letter to Congress, Sebelius wrote, “Despite our best analytical efforts, I do not see a viable path forward for CLASS implementation at this time.”

See also:
Long-Term Care Gets the Ax
U.S. Won’t Start Long-Term Care Insurance
Obama administration drops part of healthcare law
White House kills CLASS
Obama Pulls Plug on New Long-Term Care Insurance Program in Health Care Law
U.S. Drops Controversial Long-Term Care Program
Sebelius On The CLASS Act: ‘I Do Not See A Viable Path Forward’
Administration Drops Long-Term Care Provision Of Overhaul
Kathleen Sebelius declares end to CLASS Act
Nixing of health law’s ‘unsustainable’ CLASS Act prompts GOP inquiry
What the CLASS Act says about health-care reform

And remember, the CLASS Act was supposed to generate revenue that would offset the cost of other parts of Obamacare. So, even if you believed the absurd fiction that Obamacare paid for itself and wasn’t another massively underfunded government social entitlement, that will add trillions to the national debt, that fairy tale is obviously no longer within the realm of reality. Eliminating the CLASS Act is like kicking out a leg of the three legged Obamacare stool. The thread is being pulled and the Obamacare sweater is starting to unravel.

/between the Supreme Court’s upcoming ruling on the individual mandate and the 2012 elections,, hopefully Obamacare will become just an unpleasant memory within the next few years

Red Dragon Rising

Five months late, the Pentagon’s annual report on China’s military is finally released, and it’s not good news for the good guys.

China’s Modernizing Military Threatens Regional Peace, Pentagon Report Says

The swift advancement of the Chinese military, which is on course to grow into a modern fighting force by 2020, threatens to disrupt the politics of the Asia-Pacific region due to its opaque intentions, the U.S. Department of Defense said in a report released Wednesday.

In the briefing to Congress, the Pentagon said that “uncertainty about how China will use its growing capabilities,” especially in its development of power- projection platforms such as aircraft carriers, submarines, fighter jets, and long-range surface-to-air missiles, is worrying.

Read the report:

Military and Security Developments Involving the People’s Republic of China 2011

See also:
US Says China’s Military Expanding Rapidly
China rises: US warns Beijing is expanding its military power
Pentagon cautions on China military might
China military ‘closing key gaps’, says Pentagon
China could build a modern military by 2020, says Pentagon
Pentagon releases report on China’s military
Assessing Concern Over China
China Has ‘Workable’ Anti-Ship Missile Design, Pentagon Says
China military has Taiwan in its sights
China’s military ‘catching up’ with US
China Slams Pentagon Over Critical Military Report
Xinhua ‘baffled’ by new Pentagon report on China
China denounces Pentagon report, defends military modernization
Despite some positive signs, Pentagon report on China still makes much ado about nothing

This just in, China is not our friend. We’re cutting our military, while China is building up their forces. And, to add insult to injury, we owe them over a trillion dollars.

/every day the Chinese spend dollars fleeced from America on weapons, their military gets stronger, and every day Obama squats in the White House, the United States gets weaker

Famous Last Words

And for some bizarre, unexplained reason, Tim Geithner is still the U.S. Treasury Secretary.

Credit rating downgrade hits markets

U.S. stocks tumbled, following the biggest weekly drop in the Standard & Poor’s 500 Index since 2008, amid concern that a downgrade of the nation’s credit rating by S&P may worsen an economic slowdown.

The U.S. credit rating downgrade extended a rout that wiped out $1.94 trillion in market value from the country’s stocks. S&P lowered the U.S. long-term rating one level to AA+ after markets closed on Aug. 5 while keeping the outlook at “negative” as the company becomes less confident that Congress will end Bush-era tax cuts or tackle entitlements.

See also:
The Impact Of The S&P U.S. Credit Downgrade On Small Businesses
sting Icons Weigh In On U.S. Credit Downgrade
2ND UPDATE: Goldman Sachs: S&P’s US Downgrade May Be ‘Material And Adverse’ -Filing
U.S. Credit Downgrade Leaves ‘Horrible Impact’
Wall St. panics as Washington dawdles and the wheels come of the economy
GOP candidates slam Obama on US credit downgrade
Senate panel reviewing S&P downgrade
Was S&P downgrade an act of revenge?
Rating Agencies in Spotlight Following Downgrade

Of course, the Democrats got their talking points together and tried blaming the Tea Party.

Seriously, blaming the Tea Party is about as ridiculous as blaming the fireman for starting the fire.

/the obvious problem, to any sane observer, is that Obama and the Democrats just spend too damn much money

Obama Plays Hide The Terrorist

Congress specifically prohibited Obama and Holder from moving terrorists from Guantanamo to U.S. soil, so the clown pair thumbed their big red bulb noses at Congress and did an end around, skipped Gitmo, and just flew the terrorist directly to New York, so they can tie up Manhattan traffic and waste millions of taxpayer dollars for extra security on a shaky, at best, pet project civilian trial.

Obama faces criticism from all sides for terrorism suspect’s offshore interrogation, civilian trial

After holding a Somali terrorism suspect for two months on a U.S. warship, the Obama administration secretly flew him to New York for trial in a civilian court, leaving both rights groups and Congress infuriated.

The clandestine imprisonment at sea echoed Bush-era – and widely condemned – efforts to deny detainees constitutional protections while interrogating them offshore. Meanwhile, opting to surreptitiously bring the Somali to a U.S. federal court not far from where New York’s twin towers once stood gives the President a chance to circumvent Congress, which has thwarted efforts to put high-profile al-Qaeda suspects on trial in civilian courts.

Ahmed Warsame, said to be in his mid-20s, is hardly a major figure. He is described as a go-between for Somalia’s militant Al-Shabab group and the shadowy al-Qaeda in the Arabian Peninsula, located mainly in Yemen.

According to U.S. officials, he willingly operated with interrogators on board a U.S. warship. Once they were finished with him, after two months, a “clean” team from the FBI read him his rights to keep silent and have a lawyer, but the officials said he waived those rights and kept talking.

See also:
Obama under GOP fire for bringing terror suspect to U.S.
New Terror War Tactic? Alleged Al Qaeda-Linked Operative Secretly Held 2 Months on US Navy Vessel
McConnell Blasts Administration for Handling of Somali Terrorism Suspect
Republican Lawmakers Angry Over Handling of Somali Terrorism Suspect
Rights of Somali suspect may pose issue: U.S. judge
Somali Is Charged With Aiding Al-Qaeda in Arabian Peninsula
First secret terror detainee under Obama was held for two months
Terrorism Case Reignites National Security Debate
Somali Terror Suspect Met With Awlaki in Yemen Before Capture, Official Says
Drift: How This Ship Became a Floating Gitmo
Ahmed Warsame and Law of War Detention

Ahmed Warsame was held for two months and interrogated without a lawyer or being read his Miranda rights and Obama and Holder thinks that’s okay because Warsame was eventually read his rights and then a “clean” FBI interrogation team was brought in for more questioning? How, exactly, is that going to work in Federal, civilian court? Warsame’s court appointed, free defense lawyers are going to have a field day at a picnic. And what about all the extra security that’ll be necessary?

/whatever angle you look at this public spectacle from, it’s going to be a circus at a zoo and you, the taxpayer, are going to pay for every last extra penny of Obama and Holder’s clown show

Get With The Program

Cut, cap, balance. Get used to hearing those three words, because they’re going to be the “drill baby drill” mantra of the 2012 election cycle. It’s a winning issue and our country’s fiscal survival depends on it.

Cut, cap and balance

This week a group of serious, committed advocacy organizations banded together to send a clear message to Washington and urged members of Congress to sign their pledge, titled “Cut, Cap and Balance.”

. . .

So what are the right things to do, according to the pledge?

Cut — Substantial cuts in spending that will reduce the deficit next year and thereafter.

Cap — Enforceable spending caps that will put federal spending on a path to a balanced budget.

Balance — Passage of a balanced-budget amendment to the U.S. Constitution — but only if it includes both a spending limitation and a supermajority for raising taxes, in addition to balancing revenues and expenses.

Take the pledge:

Cut Cap Balance Pledge

See also:
The Fiscal Pledge We Need: Cut, Cap, Balance
Conservative Lawmakers Sign Pledge Demanding Cuts, Caps & Balanced Budget Amendment in Debt Limit Deal
Coalition Calls for ‘Cut, Cap, And Balance’ on Capitol Hill
Conservative groups, lawmakers officially roll out Cut, Cap, Balance Pledge
Lawmakers sign pledge to balance the budget
Cut, cap, balance to save economy
CBO Warning Bolsters ‘Cut, Cap and Balance’
Cut, Cap and Balance–As in the Budget–Full-Speed Ahead
Cut, Cap, Balance: How to Address the Debt Ceiling Issue
Behind the GOP’s ‘Cut, Cap, Balance’ Pledge
Can Conservatives’ ‘Cut, Cap and Balance Pledge’ Cure Spending Problem?

Go to the pledge website, work your e-mail, work your phone. Do whatever you can to get your Congressional representatives to sign on to the Cut, Cap, and Balance Pledge. Just do it, do it now.

/and if they won’t sign on, make sure you do your part to vote them out of office

Taking NATO To The Woodshed

On his way out the door, retiring U.S. Secretary of Defense Robert Gates lets it fly.

Gates Says NATO Could Face ‘Irrelevance’ in the Future

American Defense Secretary Robert Gates has told NATO members that they need to do more — and spend more — to support the alliance.

ROBERT GATES: “The blunt reality is that there will be dwindling appetite and patience in the US Congress — and in the American body politic writ large — to expend increasingly precious funds on behalf of nations that are apparently unwilling to devote the necessary resources or make the necessary changes to be serious and capable partners in their own defense.”

On Friday, Mr. Gates gave his last policy speech before he retires as defense secretary on June thirtieth. He spoke in Brussels, Belgium, at the headquarters of the North Atlantic Treaty Organization. NATO was created in nineteen forty-nine to defend western Europe against the Soviet Union.

See also:
Transcript of Defense Secretary Gates’s Speech on NATO’s Future
Gates rebukes European allies in farewell speech
‘Collective Military Irrelevance’
After Gates’ Blunt Warning, What’s Next for NATO?
US warns Europe over NATO future
Libya, Europe and the future of NATO
NATO’S future at risk, warns Pentagon chief
Gates offers grim account of NATO’s Libya efforts
Gates slams NATO allies over share of combat burden
Where Gates criticizes, Obama celebrates
How long will the U.S. find NATO relevant and affordable?

Just how worthless is NATO? They’ve been battling third rate military power Libya for three months now, NATO’s running out of ammunition, and Moammar Gadhafi is still there. What would NATO do if, say, Russia attacked western Europe? If NATO can’t defeat Libya, how can they possibly defend themselves? It’s more than obvious that NATO has outlived its usefulness and needs to be disbanded. Why should the United States continue to put up the vast majority of funding, troops, and equipment to support Europe’s defense, when Europe refuses to defend itself?

/and why the [expletive deleted] is Turkey a member of NATO, they not only don’t contribute much of anything, they actively work against the other alliance members, how insane is that?

Running On Empty

Actually, we’re running beyond empty now. The United States can’t legally borrow any more money until Congress acts to raise the debt ceiling.

US government hits debt ceiling, lighting 11-week fuse

Treasury Secretary Timothy Geithner informed Congress on Monday that the United States has reached its legal debt limit, setting off a ticking time bomb that could explode in less than three months if lawmakers can’t bridge differences and allow more government borrowing.

In hitting the $14.3 trillion debt ceiling – the limit on how much the government can borrow – the Obama administration on Monday began temporarily halting payments to the retirement and federal pension accounts of federal workers and started borrowing from those funds, to be restored later.

Geithner sent a letter to Senate Majority Leader Harry Reid, D-Nev., warning that the government can move money around for about 11 weeks but if a new debt ceiling isn’t agreed to by Aug. 2, the U.S. government could effectively default on its obligations to its creditors. He warned of “catastrophic economic consequences for citizens” unless Congress raises the debt ceiling.

An increase of about $2 trillion is expected, enough to get the issue past the 2012 elections before Congress would have to lift it again.

Republicans who control the House of Representatives vow to link raising the debt ceiling to cuts in government spending of at least equal measure. In a combative statement Monday, House Speaker John Boehner, R-Ohio, upped the ante.

“As I have said numerous times, there will be no debt limit increase without serious budget reforms and significant spending cuts, cuts that are greater than any increase in the debt limit.” Boehner has called previously for $2 trillion in spending cuts as part of any deal to raise the debt ceiling.

See also:
US hits $14 trillion debt limit
US Hits Debt Ceiling, But Treasury Market Rules Out Default For Now
Deja Vu, But No Disaster: U.S. Government Hits Debt Ceiling
U.S. Hits Debt Limit, Sky Doesn’t Fall
U.S. hit debt limit today
Treasury Tapping Federal Retirement Accounts to Stave Off Default
Turbo Tim Raids Pension Plans
With Debt Limit Maxed Out, Lawmakers Hold Firm On Remedy
Rep. Jordan: U.S. won’t default if debt ceiling isn’t raised
U.S. National Debt Clock

Well, we hit the debt ceiling and, despite all the Democrat Chicken Little hysteria, the Sun didn’t explode, the seas didn’t boil, and the markets didn’t plunge thousands of points. Go figure.

/all I can say is that the Republicans had better stand firm and hold their ground this time and hold out for concrete, verifiable spending cuts that at least equal the amount of any debt limit increase

A Line In The Sand?

Does he mean it this time or will he cave to the out of control spending Democrats yet again?

Boehner says ‘trillions’ in cuts loom on debt vote

The top Republican in Congress wants trillions of dollars in spending cuts as part of must-pass legislation permitting the government to continue to borrow to fund its operations and meet obligations to investors.

House Speaker John Boehner, in a speech prepared for delivery Monday night, says it would be irresponsible to raise the so-called debt limit beyond its $14.3 trillion cap without a major effort to curb the spiraling deficit. He says the cuts should be larger than the amount of the permitted increase in the debt.

See also:
John Boehner’s tough talk on debt limit: a departure from history
Wonkbook: Boehner’s debt-ceiling demands
Boehner: Spending cuts should be greater than debt limit increase
Boehner really isn’t asking for that much to raise debt ceiling
Wall Street Takes Boehner Debt-Limit Speech In Stride
Speaker Boehner: Tax hikes are ‘off the table’
Speaker Boehner: Tax Hikes Are ‘Off The Table’
Republicans Rule Out Tax Increases in Battle With Democrats Over Debt Cap
John Boehner’s debt pitch has risks for GOP
Boehner’s debt-limit speech: Reactions from the Hill
Democrats and Republicans Spar Over US Debt Ceiling
Boehner reiterates GOP’s ransom demands
Obama aide: Boehner shouldn’t hold debt limit ‘hostage’ to spending cuts

So, have Boehner and the Republicans finally grown a spine? They talk the talk, but can they walk the walk? They’re on the right side of fiscal reality and American public opinion in this all the marbles battle for the country’s very economic survival. The stakes for our future literally couldn’t be any higher.

/hopefully, they won’t chicken out again, the last time they promised to stand their ground on spending cuts, it ended in a humiliating disaster for Republicans

How Do You “Invest” When You’re Broke?

Hey Obama, what part of “we don’t have any money” don’t you understand?

CBO: Federal deficit to hit $1.5T this year

Last month’s bipartisan tax cuts and spending deal has deepened the federal deficit dramatically this year, putting the government on track for a nearly $1.5 trillion shortfall — the largest in history — the Congressional Budget Office said Wednesday.

The sobering check on the country’s finances was announced a day after President Obama‘s address to Congress and underscored the country’s tenuous fiscal standing, which could doom many of Mr. Obama‘s initiatives to boost government spending on education, roads and other infrastructure.

The CBO did say the economy appears to be improving, albeit slowly, from a deep recession that drove the unemployment rate to more than 10 percent. The rate is still above 9 percent, despite efforts by Mr. Obama and Congress to pump money into the economy.

“It’s been a slow recovery by the standards of our past. The labor market in particular has been coming back slowly; income has been coming back slowly,” said CBO Director Douglas Elmendorf.

Social Security Will Post Shortfall This Year, CBO Says

Social Security will post a $45 billion shortfall in fiscal 2011 and will pay out more in benefits than it accepts in payroll taxes through at least 2021 without legislative changes, the Congressional Budget office said on Wednesday.

See also:
The Budget and Economic Outlook: Fiscal Years 2011 to 2021
CBO projects record-high $1.5 trillion budget deficit this year
As deficits, debt soar, Obama, Congress fail to confront them
Deficit Outlook Darkens
CBO forecast: frightening fodder for both parties
It’s official: The debt is ballooning. Now can we think clearly?
Social Security to Run Deficits for Foreseeable Future, CBO Says
Social Security fund now seen to be empty by 2037
Social Security to Operate in the Red for the Next 10+ Years: CBO
Social Security to run permanent deficits, says CBO
CBO: Social Security Will Run Permanent Deficits
A Roadmap for America’s Future

I swear, Is Paul Ryan the only adult in Washington? When are these moron politicians going pay attention, grow some spines, and start taking this fiscal crisis seriously. Every day that goes by, we dig ourselves deeper into the national debt hole and it becomes ever so much more difficult and painful to try and climb out of our self inflicted, bottomless deficit pit.

/we’d better just forget about pie in the sky choo choo trains and go straight to the required austerity budget measures

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