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A Crushing Burden of Debt

Mark Noonan

Outside of military/terrorist threats to American lives, there is no more important issue for us to deal with:

…”at all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company–only Japan, Lebanon and Zimbabwe are higher. That’s only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% of GDP. Less than three years ago our total indebtedness crossed 500% of GDP for the first time.”

Add the unfunded portion of entitlement programs and we’re at 840% of GDP.

The world has not seen such debt levels in modern history. This debt is not serviceable. Imagine that total debt is 557% of GDP, without considering entitlements. The interest on the debt will consume all the tax revenues of the country in the not-too-distant future. Then there will be no way out but to create more debt in order to finance the old debt.

It assures a period of economic devastation. In a last, desperate attempt, politicians at the federal and local levels will raise taxes to astronomical heights to raise revenues. And that only assures destruction of the economy. Forget the fable of economic recovery. Unless there is a change in Washington by next year’s election, there will be no way to turn back.

No way to turn back? Well, think of it like this – Japan had its September, 2008 19 years ago and they are still mired in the crushing debt and resulting recession which started waaay back then. Think we can’t go through generations of economic malaise? If you think its impossible – if you think some magical “business cycle” will turn things around – then you are living in a fool’s paradise.

We must balance the budget. Now. Not next year. Not ten years from now; we need to do it right away. Yes, I know it will be hard – as a people we will have to hunker down and help each other but government must start to spend less than it takes in and it must do this without raising taxes to a ruinous height.

Of course, we won’t do it, now. With Obama and the liberals in charge, it is “full speed ahead” with more debt – and anyone who thinks that ObamaCare will actually lower government spending is a knave or fool. But we can’t go on much longer – we’re overburdened (so is most of the rest of the First World) and we have to shake ourselves free from the liberal/socialist illusions of the past century.

Phrase of the Day

Mark Noonan

For those who would compromise core belief:

“What profit is there for one to gain the whole world and forfeit his life? What could one give in exchange for his life? Whoever is ashamed of me and of my words in this faithless and sinful generation, the Son of Man will be ashamed of when he comes in his Father’s glory with the holy angels.”- Mark 8:36-38

Pro-Life Outrage Over the ObamaCare Compromise

Mark Noonan

This isn’t going to go away:

…We know exactly what human life costs – the price of a vote. Be it millions or billions, there is ultimately a figure at which men will sell each other for personal gain. I suppose that fact has always been true, but this year it seems much more profane because the ones being sold to the executioner are our own children.

It is unspeakably crass and repugnant that Reid and this Administration are demanding this national monstrosity be finalized by Christmas. It is a sad, sad testament to the fact that our nation has lost its soul. We will commemorate the birth of the Christ Child by passing legislation that mandates the use of people’s tax dollars to pay for abortion nationwide. “Happy Birthday, Jesus. I guess You’re lucky to have made it out of the womb alive.”

It is a telling irony that we should not miss. We should pay close attention to the bitterness of this timeline and heed the warning. How can we welcome the Infant King when we refuse to welcome our own infants? Indeed, we do not welcome our own children precisely because we do not welcome Christ. It is no wonder we don’t recognize Him…

It seems there are no “blue dog” Democrats. No “moderate” Democrats. No “pro-life” Democrats. Are there two types of Democrats – those who have sold their souls, and those who are still waiting for the right price? Can anyone with pro-life views remain part of the Democrat party? Not only are pro-lifers suppressed in the Democrat party, but now we see that even those who allegedly believe in life can be bought off.

This horrendous, anti-human bill now looks certain to go to Conference where Nancy, Reid and their cronies in Big Government and Big Corporation will gather ’round to carve up American health care. The result of this – likely with little notice and without being put out where the people can read it – will then be presented for up or down votes in the House and Senate. It is to the House that those who value life now turn their attention – with the Stupak Amendment, the House passed Obamacare with only two votes to spare. If the Conference bill comes out with no Stupak or some watered down, fool-only-a-knave language, then it will be up to pro-life Democrats in the House to let us know, once and for all, if a pro-life person can with honor remain part of the Democrat party.

Walpin-Gate Continues to Grow

Mark Noonan

And it brushes ever closer to the seat of power:

…In the past 10 days, two major developments have occurred. First, Obama administration attorneys continued their efforts to deny Mr. Walpin his day in court. On Dec. 7, they filed reply briefs rearguing their demand that the case be dismissed without even a hearing. Second, Rep. Darrell Issa of California and Sen. Charles E. Grassley of Iowa, both Republicans, have openly questioned the honesty of CNCS Chairman Alan D. Solomont. Most explosively of all, dirty deeds may have been employed to hide extensive involvement in the affair by the office of first lady Michelle Obama, whom the White House months earlier had announced would play “a central role in the national service agenda.”

Mr. Walpin’s suit claims that President Obama did not abide by the requirement in the Inspector General Act that IGs be given 30 days’ notice before being “removed” from office. Mr. Walpin instead was placed on “paid administrative leave” for 30 days. The new administration brief argues that such “leave” does not constitute “removal.”

Mr. Walpin’s suit explained that the entire reason for the 30-day-notice requirement is to ward off political interference with ongoing investigations. The administrative leave that denied him access to all the tools of his job, he contended, effectively “removed” him just as he was following up on two reports extremely critical of close allies of the Obamas or of Mr. Solomont…

Any government official who is arguing that a critic should not even have a day in court is a government official hiding the truth. Period. We can now rest assured that Walpin was, at the least, close to things which would have caused acute embarrassment to the Obama Administration, even if they didn’t rise to criminal behavior. And the longer and harder the Administration fights against the truth coming out, the more likely it is that a genuine crime is being covered up.

It always amazes just how swiftly Democrats start to engage in unethical behavior once they obtain office – like the ill-famed Clinton Administration, it looks as though the Obama Administration was playing fast and loose with the rules from Day One. For now, Obama and Co are safe – with Holder as AG there’s no chance of a criminal investigation and with Democrats firmly in control of the relevant House and Senate committees, there is no chance that Congressional oversight will find anything.

But 2010 is coming, and after that we might have a chance to find the truth…

30 Pieces of Silver for Nelson's Vote

Mark Noonan

If Nelson doesn’t reverse his position, this will kill his career:

Did he actually take money in exchange for backing down on his commitment to not vote for any bill which allowed for federal tax money to be used to kill children in the womb in the name of “health care.”

If Senator Ben Nelson actually sold his vote for a bag of silver for Nebraska then this has become a “Judas moment”…and its implications are evil.

The timing of such a vote, coming on the Eve of the great day when the entire world celebrates the birth of a baby whose saving life, death and resurrection forever changed human history, is more than profane it is blasphemous!

We know the Culture of Death people will always try to win the day for their views. We know that weak-kneed pro-choicers will always bail out on us at the last minute. But when someone spends a lifetime in politics as an alleged voice for the unborn and then breaks faith, that is just a horrible thing. It is a thing which will not be forgotten. Nelson has betrayed all he claims to have stood for – and he did it just for a bit of pork spending!

This is why we on the pro-life side must completely abandon the Democrat party – Democrats simply can’t be trusted. In the end, it seems that a Democrat will surrender any position if he gets some bacon to take back home – they don’t understand what morality is and it becomes clear that they are often just mouthing the words of life because their constituency is opposed to abortion.

Nelson can still recover from this – but only if he very swiftly changes his mind and returns to a firm insistence upon an absolute, legislative ban on federal funding for abortion.

2009 Bank Failure Reach 140

Mark Noonan

And worse is to come for 2010:

Seven U.S. banks were seized by regulators, bringing this year’s total of failed lenders to 140 as financial companies are tested by the recession and the Federal Deposit Insurance Corp. anticipates more shutdowns…

…Earlier this week, the FDIC boosted its 2010 budget by 56 percent to $4 billion to manage further shutdowns. The total budget will increase from $2.6 billion and the set-aside for bank failures doubles to $2.5 billion over this year, according to a proposal approved by the FDIC board. The agency staff will increase to 8,653 next year from 7,010 this year.

They’re setting aside money and beefing up staff because they know what is coming – regardless of all the happy talk from the Banksters and Bureaucrats, the economy remains deeply recessed and there is no indicating that we’ll genuinely climb out of it in 2010 (yes, liberals, I know GDP numbers say we’re out, already – but I’m dealing in reality, not government happy-talk).

I’m hunkering down – don’t know what, exactly, is going to happen but I’m not expecting it to be pretty.

Weekly Recap (2009-12-19)

Matt Margolis

Nelson Accepts Bribes for His Vote on Obamacare

Mark Noonan

As expected:

Sen. Ben Nelson (Neb.), the final Democratic holdout on health care, announced to his caucus Saturday morning that he would support the Senate reform bill, clearing the way for final passage by Christmas.

“We’re there,” said Sen. Kent Conrad (D-N.D.), as he headed into a special meeting to outline the deal.

Democratic leaders spent days trying to hammer out a deal with Nelson, and worked late Friday night with him on abortion coverage language that had proved the major stumbling block. Nelson also secured other favors for his home state.

Under the new abortion provisions, states can opt out of allowing plans to cover abortion in insurance exchanges the bill would set up to serve individuals who don’t have employer coverage. Plus, enrollees in plans that do cover abortion procedures would pay for the coverage with separate checks – one for abortion, one for rest of health-care services.

Which means, in essence, nothing at all for the pro-life position Nelson alleges he supports. So, in return for a cosmetic change in the abortion language and some pork bribes, Nelson now agrees to saddle America with ObamaCare. And, people, he’s supposedly one of the good, smart Democrats.

This doesn’t make everything a completely done deal, but I have always suspected that Reid would be able to cobble together something that he can passed called “health care reform” and then just allow people to slip in or strip out whatever they want in Conference. On final passage of the Conference bill, we might even see Reid voting “no” in order to get some coverage against backlash among Nevada voters. Once it goes to conference, a total of 10 Democrats can vote against – and that should cover all the Democrats who are vulnerable in 2010.

The good news is that we at least ensured that implementation of the programs will take place after 2013…which gives us plenty of time to repeal. Meanwhile, Democrats now own American healthcare – if there isn’t immediate improvement and/or if there is a deterioration in public perception of health care, Democrats will take the blame. And it doesn’t matter that the “benefits” don’t kick in for years – Democrats have not been exactly shouting that fact from the rooftops and their MSM enablers have kept silent, too…only political junkies are very familiar with this…the broad mass of people are probably under the impression that once this thing is signed by Obama, it will all be a done deal. Ah, what tangled web we weave when first we practice to deceive.