Archive for the ‘Economic Terrorism’ Category

Oh, How America Has Changed

by Phyllis Schlafly 8-19-11

USA TODAY published one of its colorful front pages last week detailing how America has not only grown dramatically in population over the last two decades, but has radically changed ethnically, geographically, and culturally. The most costly of the many changes is the fact that having children has become increasingly detached from marriage.

Illegitimate births for all Americans have risen from 26 percent in 1990 to 41 percent today “and could be headed higher.” Among Hispanics, illegitimacy is 53 percent, among blacks it’s 73 percent, and among whites it has risen to a shocking 29 percent.

This extraordinary change is the primary reason that government budgets, both federal and state, are so bloated. Without fathers to provide for these millions of children, their mothers turn to Big Brother Government.

The economist Robert J. Samuelson recently concluded that “the welfare state is winning the budget war.” The bipartisan budget deal, which slashed our military budget but kept welfare-state handouts mostly off limits, turned out to be “a triumph of the welfare state over the Pentagon.”

The Heritage Foundation reports that 77 types of federal means-tested handouts already cost $522 billion per year before Obama took office. He increased this giant amount to $697 billion per year in the first half of his term, and now half of Americans depend for their living expenses in whole or in part on government handouts paid by the other half who pay income taxes.

That was exactly what Obama planned to do when he told Joe the Plumber he wanted to redistribute the wealth and told Chicago’s WBEZ-FM that his favorite Supreme Court Chief Justice, Earl Warren, wasn’t radical enough because the Warren Court “never ventured into the issues of redistribution of wealth.”

Estimates are that, over the next decade, the federal government will spend $7.5 trillion on means-tested welfare. That’s in addition to the nearly $200 billion a year doled out by the states.

In Ronald Reagan’s famous caveat, when you subsidize something you get more of it. So the subsidies to women who have no husbands in the house have promoted more and more children growing up without fathers.

The American public has been alerted to the effects of family breakup ever since Daniel Patrick Moynihan’s 1965 report called “The Negro Family: The Case for National Action.” We can now see clearly that giving cash and benefits to single moms, beginning with Lyndon Johnson’s War on Poverty, destroyed families by making fathers unnecessary and even a barrier to the women receiving free money.

This common-sense analysis was confirmed by British commentator Melanie Phillips, who described the current London riots as the result of “the promotion of lone parenthood” and “the willed removal” of fathers from the family unit by the Welfare State and the “ultra-feminist wreckers” of the traditional family with its male breadwinner. She calls for removing “the incentives to girls and women to have babies outside marriage” and for dismantling “the concept of entitlement” from the Welfare State.

The religious Left has injected itself into the U.S. budget debate by corralling a list of leftwingers to sign a statement called “Circle of Protection” opposing any cuts to welfare-state spending. This group made a political splash running newspaper ads featuring the provocative question, “What would Jesus cut?”

I wouldn’t presume to try to read Jesus’s mind or announce His political opinions, but I think it’s hard to make the case that He would approve subsidizing, and thereby encouraging, illegitimate births. That’s exactly what the means-tested welfare handouts have been doing ever since Lyndon Johnson’s War on Poverty.

Michael Gerson defended the religious Left’s Circle of Protection in the Washington Post. He calls the billions of dollars of government spending on poverty “essentially irrelevant to America’s long-term debt.” I guess we now know why George W. Bush wasn’t more conservative: Michael Gerson was his speech writer.

Gerson is wrong. Welfare-state spending is a major cause of our debt, and it is also morally costly because it chases fathers out of the homes. The Heritage Foundation figures don’t even count the social and fiscal costs of the drugs, sex, suicide, school dropouts, runaways, and crime that come mostly from female-headed households.

Also, welfare spending is a failure; it doesn’t advance us toward any constructive goal, such as helping recipients to get on their feet economically. It merely increases dependence on government handouts and votes for leftwing politicians.

The Obama strategists know their political bread is buttered on the side of creating more and more women dependent on government. Republicans will lose the budget battle unless they face up to the fact that traditional husband-provider marriage is the mainspring of economic solvency, and Republicans will lose elections unless they stop the redistribution of money from taxpayers to dependents on government.


Hellish Day on Wall Street as S&P 500 Plunges 6.66%: Macke

Analysts say “It’s Not Going to End Until It Gets Very, Very Grim”

Their solution: Bring back the Great Depression and New Deal (Are they on crack or just crazy?!)


Nuclear: $0.019
Coal: $0.027
Natural Gas: $0.081
Hydroelectric: $0.009
Solar: No estimate found ($0.36 Per KWH )


Extrapolation of Results

2008 US Electricity Generation by Source & Weighted Average Cost per kWh

Energy Source % of Total Cost per kWh Weighted Avg Cost
Nuclear 19.7% $0.04 $0.008
Hydro 6.1% $0.03 $0.002
Coal 48.7% $0.04 $0.022
Natural Gas 21.4% $0.10 $0.022
Petroleum 1.1% $0.10 $0.001
Other Renewables 3.0% $0.15 $0.005
  100%   $0.059
Projected US Electricity Generation by Source & Weighted Average Cost per kWh by Doubling Nuclear Energy

Energy Source % of Total Cost per kWh Weighted Avg Cost
Nuclear 39.4% $0.04 $0.015
Hydro 6.1% $0.03 $0.002
Coal 29.0% $0.04 $0.013
Natural Gas 21.4% $0.10 $0.022
Petroleum 1.1% $0.10 $0.001
Other Renewables 3.0% $0.15 $0.005
  100%   $0.058 [change of -1.7%]

When Andasol 1, a solar thermal plant with 7 hours of salt storage was completed in Spain, the head of the team that designed it stated, for publication, that the electricity it produces would cost 27 Euro cents kW, which was 36 US cents kW the day I looked it up, and this was for a plant that cost $19,963 per available kW.


BEIJING (AP) — A little-known Chinese ratings agency has downgraded the rating of the United States from A+ to A. The move is unlikely to affect U.S. borrowing rates but reflects the pessimism Washington’s debt battle has generated worldwide.

President Barack Obama signed emergency legislation to boost the debt ceiling ahead of a deadline to avoid an unprecedented national default.

Still, China’s Dagong Global Credit Rating Co. said Wednesday that the deal doesn’t change the fact that U.S. debt growth has outpaced its economy and fiscal revenue.

Dagong is little-known outside China but hopes to compete with global ratings agencies Moody’s, Standard & Poor’s and Fitch.

Moody’s has said the U.S. will retain its highest bond rating but with a “negative” outlook.

Congratulations on your new grandchild!

Here is his/her bill:

· $46,502 to cover his/her portion of the national debt

· $1,000,000 to cover the unfunded liabilities related to future obligations made by the US government that we can’t afford.

Please have your grandchild write a check each month to the United States Treasury in the amount of $13,953.36 for the next 75 years and we should be good to go.

(NOTE: This does NOT include debts and unfunded liabilities owed by state and local governments. Please see your local Representative for more details and another bill)

Have a nice life little one!


The Eternal Revenue Service

Milton Friedman says that the purpose of the federal reserve is to provide cash when there is a run on the banks. This is part of a 10 hour series which can be viewed at:

Dr. Friedman (born July 15, 1912), a 1976 Nobel Prize winner for excellence in economics, was one of the most effective advocates of economic freedoms and free enterprise. A Senior Research Fellow at the Hoover Institution. At the age of 94, Dr. Friedman passed away on November 16, 2006 in San Francisco, California.

“When government — in pursuit of good intentions — tries to rearrange the economy, legislate morality, or help special interests, the costs come in inefficiency, lack of innovation, and loss of freedom. Government should be a referee, not an active player. In the United States, government has gone far beyond the basics.”

Uploaded by on Aug 8, 2007

On August 15, 1971, President Nixon announced on TV 3 dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system. And he imposed a temporary surcharge (tariff) on all imports. The Bretton Woods system was created towards the end of World War II and involved fixed exchange rates with the U.S. dollar as the key currency – but also a role for gold linked to the dollar at $35/ounce. The system began to falter in the 1960s because of an excess of dollars flowing out of the U.S. which foreign central banks had to absorb. A run on gold in 1968 was stemmed by a patch on Bretton Woods known as the two-tier gold system. All of this was ended unilaterally by the Nixon decision. After a brief attempt to create a modified fixed exchange rate system, the world moved to flexible rates.

The world is coming to the end of a 50-year debt supercycle, John Mauldin says, and the austerity required to put us back on solid financial footing will hammer ordinary Americans.

Mauldin, a financial analyst and the author of ENDGAME: The End Of The Debt Supercycle And How It Changes Everything, thinks that the the US will soon be forced to confront the fact that it has borrowed way too much in the past few decades and must severely cut back.

The US’s $1.6 trillion-a-year deficit, Mauldin believes, must quickly be cut to about $300 billion a year, or the US will face a debt crisis. And given that our current government can barely find ways to chop $30 billion of spending from the 2011 budget, these cuts are going to be painful.

What will the forced austerity mean for ordinary Americans?

Higher taxes and significantly reduced Medicare and Medicaid spending, for starters, Mauldin says. And then cuts to almost everything else in the budget, including military spending and education.

In other words, as has so often been the case in the past couple of decades, the middle class will bear the brunt of the impact.

By Gordon Bishop
    Here’s is what America’s illegal, fraudulent “president” has done to America in the first half of his occupation of the White House (you won’t believe it!):
    If any other president had doubled the National debt, which had taken more than 2 centuries to accumulate, in one year, would you have approved?
    If any other president had then proposed to double the debt again within 10 years, would you have approved.
    If any other president had criticized a state law that he admitted he never read, would you think that he is just an ignorant hot head?
    If any president joined the country of Mexico and sued a state in the United States of America to force that state to continue to allow illegal immigration, would you question his patriotism and wonder who’s side he was on?
    If any other president had pronounced the Marine Corps, would you think him an idiot?
    If any other president had put 87,000 workers out of work by arbitrarily placing a moratorium on offshore oil drilling on companies that one of the best safety records of any industry because one foreign company had an accident, would you have agreed?
    If any other president had used a forged document as the basis of the moratorium that would render 87,000 American workers unemployed, would you support him?
    If any other president had been the first to need a teleprompter installed to be able to get through a  press conference, would you have laughed and said it’s more proof that he is inept on his own.
    If any other president had filled his cabinet and circle of advisers with people who cannot seem to keep current in their income Taxes, would you have approved?
    If any other president had stated that there were 57 states in the United States, wouldn’t you have had second thoughts about his capabilities?
    If any other president had flown all the way to Denmark to make a five-minute speech how the Olympics would benefit him and his home town (Chicago), then getting back on Air Force One to go wherever he wants to be, would you not have thought he was an egotistical jerk?
    If any other president had burned 9,000 gallons of jet fuel to go to plant a single tree on Earth Day, would you have concluded he’s a hypocrite?
    If any other president’s administration okayed Air Force one flying low over millions of people followed by a jet fighter in downtown Manhattan, causing widespread panic, would you have wondered whether they actually get what happened on 9/11?
    If any other p resident had created the positions of 32 “Czars” who report directly to him, by passing the House, Senate and Cabinet on much of what is happening in America, would you have approved?
    If any other president had ordered the firing of the CEO of a major corporation, even though he had no constitutional authority to do so, would you have approved?
    Once again, what is it about Obama that makes him so “brilliant and impressive?”
    Every statement and action in his e-mail is factual and directly attributable to Barack Hussein Obama.
    Every bumble is a matter of record and completely verifiable.
    “All it takes for evil to triumph is for good men to do nothing.”
    Once again, all I can say is, “God Bless America?”
(Gordon Bishop is a ‘Who’s Who in the World’ national award-winning author, historian, syndicated columnist and New Jersey’s First “Journalist-of-the-Year”–1986/New Jersey Press Association, founded in 1854.)