US Action News

These green government “investments” take from one (by taxing or borrowing) and give to another, but they merely move money around. They do not create jobs.

Democrats recently expressed their willingness to send this country off the fiscal cliff by allowing taxes to rise for everyone on January 1 if Republicans refuse to raise taxes on job creators. With 41 straight months of unemployment over 8 percent and 23 million Americans unemployed or underemployed, raising taxes on job creators is the worst possible thing we could for our struggling economy.

Financial markets all over the globe are very nervous right now because if the Spanish government ends up asking for a full-blown bailout it could spell the end for the eurozone. There simply is not enough money to do the same kind of thing for Spain that is being done for Greece.

Where this funding will come from is the $64 Trillion question. Very likely it will be created out of thin air by Central Banks, exactly as they have done for much of the last four years. Obviously there is a limit to how much money they can create before fiat currencies collapse.

“American individual sovereignty and individual industrialism are being destroyed in order to fundamentally transform our Republic into an egalitarian welfare nanny-state.” – Rep. Allen West

Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. – CNSNews.com

It could get much worse if we hit the “fiscal cliff”: A combination of expiring tax cuts and slashed federal spending set for Dec. 31 would cut the federal budget deficit by an amount equal to 4 percent of U.S. gross domestic product, throwing millions of people out of work if Congress doesn’t stop them. – Business Insider

In 1994 the government changed the way it counted unemployment. If it still counted long term unemployed it would be 22.9%. The real concern is also that the trend is getting WORSE not better. Tom Sullivan interviews ShadowStats.com Creator John Williams.

A tax-cut-oriented simplification of the IRS code — so urgently needed today — will soon be politically impossible because of so many millions off the income-tax rolls, an increasing number of them middle-class. – IBD

“consumers will experience tight credit, higher fees, and fewer service innovations. Job creation will suffer.” … “financial firms of all sizes are shelling out hundreds of millions of dollars for regulatory compliance officers and attorneys rather than making loans for new homes and businesses.”