US Action News

The Fed operated as a global pawnshop taking in practically anything the banks had for collateral.

by Sen. Jim DeMint
G-20 Finance Ministers and Central Bank Governors asked the United States, the IMF’s largest contributor, for a whopping $108 billion to rescue bankers around the world and the Obama Administration quickly obliged. The Democrat Congress, aided by a few Republicans, used a war spending bill to send bailout money to an international fund that’s partially-controlled by our enemies.

The current leadership in Washington should spare workers and small businesses the soaring rhetoric and lofty aspirations concerning job growth and economic development and simply tell us the truth, jobs be damned, the payoffs to union bosses will continue.

“The accounting gimmicks that are used today would make an Enron and WorldCom accountant blush,” Hensarling told reporters. “The American people know that under the policies of this administration—under the policies of this Congress—we are drowning in a sea of red ink.”

Economic forecasters say future generations of Americans could have a substantially lower standard of living than their predecessors’ for the first time in the country’s history if the debt is not brought under control. Economists Predict Cutbacks, Tax Increases That ‘Aren’t Even Imaginable’

This is no time for conservatives to back down in the name of bipartisanship. “Bipartisanship,” after all, doesn’t mean surrendering to big government. This President is in denial, and he’s showing contempt toward the American people who have repeatedly rejected his big government ideas.

Last week, the U.S. Senate increased the nation’s debt ceiling by an additional $1.9 trillion. That vote was necessary to further the Ponzi scheme. It should serve as a wake-up call that this level of spending is unsustainable.

Last week, the U.S. Senate increased the nation’s debt ceiling by an additional $1.9 trillion. That vote was necessary to further the Ponzi scheme. It should serve as a wake-up call that this level of spending is unsustainable.

Transparency, CSPAN coverage of healthcare, and now READ HIS LIPS:MIDDLE CLASS TAXES Obama budgets spend 4 times as much as any in history and now to “reign in deficit” he wants to raise your taxes. Says he is “agnostic” on raising taxes.

But the Obama Administration came into office knowing that the economy would ultimately recover as the business cycle turned up naturally, and planned to reap the political credit, enabling still greater leaps of neo-socialism. Internally, they are surprised and miffed that it has taken so long, not understanding that their own, blindly anti-market policies only delayed recovery.