Showing posts with label national economic crisis. Show all posts
Showing posts with label national economic crisis. Show all posts

Wednesday, December 22, 2010

CAN YOU BELIEVE THE ARROGRANT HYPOCRISY OF THESE LIBERAL, PELOSI LOVING, DUMBASSOCRATS?

Nancy Pelosi is without doubt the worst person ever to hold the post of Speaker of the House.  She is the idiot who brought bills to the House floor without even reading them; she is the idiot who said the bills have to be passed before we could see what was in them. She is the stupid dumbass who said that unemployment compensation is stimulating to the economy (Huh? WTF!).  She was the most arrogant, stupid Obama puppet ever to grace the floor of congress.  She was a primary catalyst in helping Barack Obummer destroy the American way of life, pile mountains of debt on our grandchildren, and put more people out of work in the Democrats attempt to repay unions for their continued support of the Democratic Party.

When the Democrats took over Congress in 2006, their approval rating was only 31 percent. Nancy Pelosi said she wanted to reverse that, and she did. It is now 13 percent.  Way to go Pelosi!  That's probably the only promise she's kept.

In the 1,461 days that Rep. Nancy Pelosi (D.-Calif.) served as speaker of the House, the national debt increased by a total of $5.343 trillion ($5,343,452,800,321.37) or $3.66 billion per day ($3.657,394,113.84), according to official debt numbers published by the U.S. Treasury.

Pelosi was the 52nd speaker of the House. During her tenure, she amassed more debt than the first 49 speakers combined.

The total national debt did not climb above $5.343 trillion (the amount amassed during Pelosi’s four years as speaker) until Feb. 26, 1997, when Rep. Newt Gingrich (R.-Ga.) was serving as the nation’s 50th House speaker.

When Pelosi was sworn in on Jan. 4, 2007, the national debt stood at $8,670,596,242,973.04. At the close of business on Jan. 4, 2011, her last full day in the speakership, it stood at 14,014,049,043,294.41--an increase of $5,343,452,800,321.37.

Pelosi served as speaker for four full years, including one leap year, making her time in that office 1,461 days. On average, the federal government added $3.66 billion ($3,657,394,113.84) in new debt for each of those days.

Pelosi not only outstripped her predecessors in the total volume of debt added to the national debt during her tenure as speaker, but also in the rate at which new debt was added. In fact, Pelosi added debt at a rate more than three times faster than her nearest competitor.
If you were able to keep your food down after reading  the laudatory dribble memorializing Ted Kennedy after he died, then you'll probably be able to keep from retching your guts out after reading this pile of manure about what a great job Pelosi did in destroying our economy by being Obummer's lap dog (bitch).  These Libs really do a great job in re-writing  history to make themselves look like heros.


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MSNBC's Mitchell Mourns 'Painful' End of Nancy Pelosi's 'Historic' Speakership
By: Kyle Drennen
Tuesday, December 21, 2010

During her 1PM ET hour show on MSNBC on Tuesday, host Andrea Mitchell sympathized with exiting Speaker of the House Nancy Pelosi, remarking that the California Democrat having to hand over the gavel to John Boehner in January has "got to be painful," but that Pelosi is "doing it with class."



Mitchell made the comments after talking to Politico's congressional bureau chief Martin Kady about a recent interview Pelosi conducted with the political website. Mitchell cited excerpts: "Pelosi says quote, 'I'm obviously devastated by the loss we had' but she also says she 'feels serene' and is already working on getting Democrats to win back the House, a tall order." Kady portrayed Pelosi as defiant: "I mean she's really still promoting the accomplishments of the Democratic congress, even the accomplishments that some believe, you know, may have cost her some seats in this House."

To read the entire gut-wrenching, woeful article about freakin' Nancy, go to:

http://www.mrc.org/biasalert/2010/20101221054900.aspx

Have a barf bag handy!
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Saturday, January 2, 2010

“If we fail to learn from history, we are doomed to repeat it.”

This is a re-post from the Patriotic Resistance website (http://www.resistnet.com). It's an excellent look into the future, and well worth your reading.

An American Horror Story, this is what we will look like in 50 to a 100 years.

"Don’t Cry For Me, America!" In the early 20th century, Argentina was one of the richest countries in the world. While Great Britain’s maritime power and its far-flung empire had propelled it to a dominant position among the world’s industrialized nations, only the United States and Germany challenged Argentina for the position of the world’s second-most powerful economy.

It was blessed with abundant agriculture, vast swaths of rich farmland laced with navigable rivers and an accessible port system. Its level of industrialization was higher than many European countries: railroads, automobiles and telephones were commonplace. In 1916, a new president was elected. Hipólito Irigoyen had formed a party called The Radicals under the banner of “fundamental change” with an appeal to the middle class. Among Irigoyen’s changes: mandatory pension insurance, mandatory health insurance, and support for low-income housing construction to stimulate the economy. Put simply, the state assumed economic control of a vast swath of the country’s operations and began assessing new payroll taxes to fund its efforts.
With an increasing flow of funds into these entitlement programs, the government’s pay-outs soon became overly generous. Before long its outlays surpassed the value of the taxpayers’ contributions. Put simply, it quickly became under-funded, much like the United States’ Social Security and Medicare programs. The death knell for the Argentine economy, however, came with the election of Juan Perón. Perón had a fascist and corporatist upbringing; he and his charismatic wife aimed their populist rhetoric at the nation’s rich.

This targeted group “swiftly expanded to cover most of the propertied middle classes, who became an enemy to be defeated and humiliated.” Under Perón, the size of government bureaucracies exploded through massive programs of social spending and by encouraging the growth of labor unions. High taxes and economic mismanagement took their inevitable toll even after Perón had been driven from office. But his populist rhetoric and “contempt for economic realities” lived on. Argentina’s federal government continued to spend far beyond its means. Hyperinflation exploded in 1989, the final stage of a process characterized by “industrial protectionism, redistribution of income based on increased wages, and growing state intervention in the economy…” The Argentinean government’s practice of printing money to pay off its public debts had crushed the economy. Inflation hit 3000%, reminiscent of the Weimar Republic. Food riots were rampant; stores were looted; the country descended into chaos.

And by 1994, Argentina’s public pensions — the equivalent of Social Security — had imploded. The payroll tax had increased from 5% to 26%, but it wasn’t enough. In addition, Argentina had implemented a value-added tax (VAT), new income taxes, a personal tax on wealth, and additional revenues based upon the sale of public enterprises. These crushed the private sector, further damaging the economy. A government-controlled “privatization” effort to rescue seniors’ pensions was attempted. But, by 2001, those funds had also been raided by the government, the monies replaced by Argentina’s defaulted government bonds. By 2002, “…government fiscal irresponsibility… induced a national economic crisis as severe as America’s Great Depression.”

In 1902 Argentina was one of the world’s richest countries. Little more than a hundred years later, it is poverty-stricken, struggling to meet its debt obligations amidst a drought. We’ve seen this movie before. The Democrats’ populist plans can’t possibly work, because government bankrupts everything it touches. History teaches us that ObamaCare and unfunded entitlement programs will be utter, complete disasters.

Today’s Democrats are guilty of more than stupidity; they are enslaving future generations to poverty and misery. And they will be long gone when it all implodes. They will be as cold and dead as Juan Perón when the piper must ultimately be paid.
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