Latest from Chuck Norris
Every week, we receive more bad news about the American economy. Last week was no exception.
The Fed began monetizing the national debt, while China's gross domestic product for the third quarter expanded 8.9 percent from the previous quarter, Dagong (the Chinese quasi-government ratings agency) downgraded the credit rating of the United States, and billionaire George Soros expanded his global economic warlording by opening an office in Hong Kong — advancing his goal of making China a part of the new world order.
Now that we have new representatives, it's time to advance immediately on them and address the issue that can both rebuild our economy and relieve us of government oppression: tax reform.
As I began to point out in last week's article, Congress' plan to subsidize all its outrageous borrowing and spending will demand far more than the tax man's just collecting on expired Bush tax cuts. There are a host of other levies coming down the turnpike from Washington.
When the House voted to adjourn about a month ago by a 210-209 margin, Speaker Nancy Pelosi, D-Calif., and her cronies avoided dealing with extending the 2001 and 2003 Bush tax cuts, which expire Dec. 31. Rather than address the tax issue, the Senate also voted to adjourn.
Instead, Congress is holding a lame-duck session beginning Nov. 15. What that means is whether or not you elect them back into office, they are poised to do what they want when they want with little election fallout.
The Congressional Budget Office just reported that in the past two years since President Barack Obama took office, federal spending is up 21.4 percent.
The national deficit was $1.29 trillion in 2010 (second to the $1.4 trillion in Obama's first year in office, 2009), which means that for every $1 the federal government spent this past year, it borrowed 37 cents of it!
The feds will tell you that their outrageous spending habits were necessary to pull our economy out of its recession. But would their same rationale justify the fact that the money Congress spends on itself has soared 89 percent over the past decade, more than three times the U.S. inflation rate?
It's true. In 2000, the feds spent $2.87 billion to run Capitol Hill. In fiscal year 2010, they almost doubled the amount, to an enormous $5.42 billion. From 2000-10, while inflation went up 26 percent, according to the Bureau of Labor Statistics, U.S. Capitol expenses went up 89 percent.
Were all those expenditures necessary to pull the economy out of a recession, too? Will the Obama administration again blame former President George W. Bush for its contemptible spending habits in its first two years?
According to Capitol News Connection and the congressional watchdog groups Sunlight Foundation and LegiStorm, here are just some of the itemized personnel costs of your legislative branch of government, including their comparative increases from 2000:
The White House's wish almost came true last week. It was hoping most of us and even the mainstream media would miss the release of the Congressional Budget Office's preliminary report on the 2010 federal fiscal year. And most did.
The Wall Street Journal, however, exposed why the White House was being so secretive about its results: The CBO concluded that federal government spending has skyrocketed 21.4 percent in just the past two years since President Barack Obama took office!
The White House's actions remind me of President Ronald Reagan's words: "We could say they spend money like drunken sailors, but that would be unfair to drunken sailors. It would be unfair because the sailors are spending their own money."
It's no new revelation that Washington has lost its way from our Founders' vision and fiscal frugality. But in the past two years, it has become a financial runaway train. And it is only we the people who can save it from completely derailing our country and all of us on board.