Federal Government Collects Record Amount of Tax Revenue

The federal government set a record in tax revenue with a caveat.

(CNSNews.com) - The U.S. Treasury hauled in a record of approximately $1,248,371,000,000 in tax revenues in the first five months of fiscal 2016 (Oct. 1, 2015 through Feb. 29, 2016), according to the Monthly Treasury Statement released today.

Despite these record tax revenues in the first five months of the fiscal year, the federal government nonetheless ran a deficit of approximately $353,005,000,000 during the same period

Any reasonable person would conclude the federal government has a spending problem, unless of course, you’re a democrat.

Source:

http://cnsnews.com/news/article/terence-p-jeffrey/1248371000000-fy2016-taxes-set-record-through-february-8263-worker

2014 State of the Union in Real Time U.S. Dollars

The Mises View: "Government Debt Addiction"

I was talking to a small business owner last week about the federal government's debt.  He didn't see a problem with it.  Mind you, he has to meet a payroll.  Needless to say, I was dumbfounded.


According to the judge, the tipping point is 50% of the populace on the welfare state.  We are currently at 47%.  We may see chaos withing our lifetime.

H/T:  NC Renegade

Rep. Robert Pittenger Votes With D.C. Establishment to Extend Federal Debt

Rep. Robert Pittenger is showing himself to be just another weasel in the D.C. hen house.  It didn’t take him long to cozy up to the Republican establishment.   Pittenger made his bones when he voted to fund Obamacare and extend the national debt another 1.1 trillion dollars.  Here is how he justified stabbing us in the back:

Last night's bill allows a few months for substantive negotiations on bringing Washington’s reckless spending under control. This gives conferees Paul Ryan, Tom Cole, Tom Price, and Diane Black the opportunity to get a deal done. Each are strong fiscal conservatives.

The recent debate over defunding Obamacare was a noble objective, but one I repeatedly warned was doomed to failure. I value the Constitutional budgetary role of the House. You probably know that Obamacare was written as 98-99% mandatory spending, which is why House Republicans couldn't stop the bill through a shutdown. Also, many of the most harmful aspects of the law are the mandates, regulations, and taxes - these were untouched during the shutdown and would require Obama's signature to overturn.

Every day, I hear from multiple constituents who face drastically higher healthcare premiums, reduced benefits, or reduced job opportunities due to Obamacare. After securing critical funding for our military, I was willing to participate in a principled fight on behalf of my constituents, but as I predicted, President Obama did everything in his power to protect his signature legislation. Obamacare, good or bad, will be his legacy.

Thank you for supporting me and other Republicans last year. Please know that I'm doing everything possible to encourage job growth now and chart a sustainable path for federal government spending in the long-term.

Does Mr. Pittenger honestly believe these negotiations will fare better?  How many times have the Republicans caved in only to promise they’ll win the next fight?  Yet, he has the balls to post this picture on his Facebook page after his disgusting vote: 

No, I do not support you Mr. Pittenger.  You’ve shown yourself to be a go along to get along republican.  What the 9^th Congressional District of North Carolina needs is a principled fighter who will protect his constituents from the Washington D.C. establishment. 

I wonder if Mr. Pendergraph is still available.

Source:  https://www.facebook.com/congressmanpittenger

We Should Rename Pennsylvania Ave to Broadway

After the high drama and theater in Washington D.C., I believe we should rename Pennsylvania Avenue to Broadway.  This whole government “shutdown” was a big show.  In actuality, only 17% of the federal government was shutdown.  And as for default, that was another lie.  There is plenty of money that flows into that cesspool that would pay our debt obligations.  And everyone involved from these slimy politicians to their street whores in the media lied to the American people.  It was a grand illusion.

Take a bow Versailles, D.C.  Some day the laws of economics will drop the curtain on your little show.  I just hope you scumbags are around to witness it.

Source:  http://www.foxnews.com/politics/2013/10/07/reports-show-less-than-20-percent-fed-government-is-really-shut-down/

The Coming Obamacare EBT Fiasco

A couple of days ago, the country witnessed a major fiasco with the federal government’s food stamp EBT cards.  Sections of the country were denied access, while others were given unlimited balances.  And what did the teat squawkers do?  In those areas denied, panic set in.  In Louisiana, it was a free for all.  And guess who gets to foot the bill.

No card is limitless, DCFS spokesman Trey Willims told KSLA-TV. Usually when outages occur, he said, it’s the store’s responsibility to take action, include calling a number to verify customers’ card limits.

But some retailers chose not to do that Saturday night.

“These businesses are only reimbursed for the benefits on the card, and they are completely responsible. So if someone had $50 dollars on their card, and they spent $100, the retailer, in this case Walmart, would be on the hook for the other $50,” he said

Once people believe they are entitled to a government program, they get a little testy.

 

Can you imagine what it’s going to be like under Obamacare?  What kind of rampages are we going to be subjected to if an Obamacare EBT card malfunctions?  And who will pay for that?  If the latest fiasco is any indication, it won’t be the federal government.  Wait, what am I saying?  The federal government doesn’t make money. They confiscate it.

Source:  http://www.theblaze.com/stories/2013/10/15/guess-whos-footing-the-bill-for-that-walmart-food-stamp-fiasco/

Sen. Ted Cruz Laments Versailles, D.C.

Well, the Washington D.C. establishment has once again told the American people to eat cake.  The whole country is watching the court of King Obama laugh at the peasants as they destroy their health care and country.  Why should they care?  The laws they pass don't apply to them.

The Federal Government's Cupboards are Bare?

So here we are again, facing another federal government shutdown.  All the libtards are in high theatre, screaming about the terrorist, arsonist, extremist, and whatever hyperbolic expletives they can throw at the Tea Party, who threatens to harpoon their D.C. leviathan.

According to Nancy Pelosi, there are no more cuts to be had.  Why the federal government’s cupboards are empty, but not completely.  The Obama administration found a coffee can stuffed with $100 million.  And guess where that money is going. Detroit!
 

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The funding announced by Sperling will include $65 million in Community Development Block Grants for blight eradication, $25 million in a public-private collaboration for commercial building demolition and nearly $11 million in funds to ensure working families can live in safe neighborhoods. 

Holder will announce $3 million that, in part, will be used to hire new police officers. About $25 million also will be expedited to Detroit to hire about 140 firefighters and buy new gear. 

"It wasn't enough to try and free the resources," Sperling said. "We had to make sure they are well-used and targeted."

If you look behind the can, you’ll see a gnome with a printing press buying up $86 billion a month in federal debt.  I bet a whole slew of municipalities wished they had one of these fairies laboring away in their cupboard.

 Source:  http://www.foxnews.com/politics/2013/09/27/ahead-talks-feds-find-100m-for-broke-detroit/?intcmp=latestnews

Obama Proposes Expansion of Student Loan Bubble

Here we are on the verge of another government sponsored bubble. What the feds did to the housing market, they’re doing to college education. Do easy credit, low interest rates, and soaring prices sound familiar? It should. Just turn around and look at your overvalued house.

Barack Obama announced in his weekly address, that he wants Congress to prevent interest rates on federally funded student loans from doubling in July; at the same time, he wants to come up with a solution to make college education affordable:

In America, higher education cannot be a luxury. It’s an economic imperative that every family must be able to afford. That’s why next week I’ll be visiting colleges across the country, talking to students about how we can make higher education more affordable – and what’s at stake right now if Congress doesn’t do something about it. You see, if Congress doesn’t act, on July 1st interest rates on some student loans will double. Nearly seven and half million students will end up owing more on their loan payments. That would be a tremendous blow. And it’s completely preventable.

This issue didn’t come out of nowhere. For some time now, I’ve been calling on Congress to take steps to make higher education more affordable – to prevent these interest rates from doubling, to extend the tuition tax credit that has saved middle-class families millions of dollars, and to double the number of work-study jobs over the next five years.

This kind of rhetoric reminds me of the Clinton-era affordable housing initiative. And guess what? The results are about the same. Last year, outstanding student loans passed the trillion dollar mark. Do you hear that bubble being stretched?

Of course, big government politicians like Barack Obama, seldom see the consequences of their actions. Their policies have flooded universities with easy cash. As a result, tuition has skyrocketed. Soon, we’ll witness a tsunami of bankruptcies, and the taxpayers will suffer another round of debt forgiveness spankings.

Source: http://www.whitehouse.gov/photos-and-video/video/2012/04/21/weekly-address-calling-congress-prevent-student-interest-rates-dou#transcript

http://www.thenewamerican.com/culture/education/11298-student-loan-debt-reaches-1-trillion

http://nces.ed.gov/fastfacts/display.asp?id=76

http://politicalcalculations.blogspot.com/2012/02/rising-unaffordability-of-college.html

The Vote Pump

But according to all my liberal friends, it's the military and all the wars that is responsible for our huge debt; not entitlement spending. I wonder if this video will change their mind? I doubt it.

Arizona Congressman Proposes Constitutional Amendment to Check Government Spending

Finally, a backlash is beginning to develop against the outrageous spending by the Washington D.C. swamp monsters. An Arizona congressman has introduced a bill that would require majority approval by the states before the debt ceiling could be raised. Here is Rep. David Schweikert’s press release:

Washington, D.C. – On Tuesday, Congressman David Schweikert (R-AZ) introduced H.J.Res 99, the National Debt Relief Amendment (NDRA). This constitutional amendment would require approval from a majority of states before Washington increases the federal debt level:

“Our national debt is more than a mind-blowing $15 trillion, which breaks down to nearly $49,000 for every man, woman, and child in this country.

“Washington has demonstrated an inability to rein in its reliance on debt and continues to mortgage our future with more borrowing, spending, and bailouts.

“This constitutional amendment will change our bailout culture by curbing the growth of our federal debt, creating transparency, and enforcing budget discipline.

“I encourage my colleagues to pass this bipartisan amendment and soon.”

BACKGROUND: The NDRA will take away Congress’ authority to increase the debt limit by requiring approval from a majority of state legislatures to increase the national debt. This will give a voice to all 50 states and create a more accountable and transparent political process by getting Washington out of the way.

The NDRA is policy neutral and does not place any limits on how much the federal government can tax or spend. It allows Congress to request an increase in federal debt when necessary and does not prevent our country from responding to a national crisis.

North Dakota and Louisiana have already adopted the NDRA and 17 more states are poised to do so in their next legislative sessions.

At one time in our history, the states did have a say in federal spending. The progressives put an end to that by passing the 17th Amendment, which calls for direct elections of U.S senators; a task once decided by state legislators. Now, we have populism running amuck, and the states have become tools of the federal government; enslaving us in their socialist programs.

The progressive experiment has been a big failure. Their irresponsible behavior has put our country in peril. I applaud Rep. Schweickert’s efforts, but if the states are to ever shake the federal yoke, then we must repeal the 17th Amendment.

Source: http://schweikert.house.gov/News/DocumentSingle.aspx?DocumentID=275227