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February 3, 2010
Exclusive: When a Trend Cannot Continue, It Stops
Margaret Thatcher said it best: “The trouble with socialism is that it runs out of other people’s money.” And so it has come to pass in 21st century America – we have been presented with a Federal budget for the fiscal year 2011 that spends $1.6 trillion more than anticipated tax receipts and projects doing the same for the next 10 years. David Sanger's current New York Times article points out this grim reality.
Seventy-five years of social engineering has already left the American taxpayer with $119 trillion of debt. Taxpayers know politicians have legislated them into a corner and believe there are no present solutions other than returning the conservatives to power and hope they can stop the bleeding and start to reduce the deficit and debt. There is no time to waste in applying an economic tourniquet to the body politic – projections indicate that this $119 trillion debt grows at the rate of $8 trillion a year.
Insanity has been defined as doing the same thing over and expecting a different result. Liberals have decided to turn on the populist propaganda and spend the country into economic chaos in an identical way government did in 1936. That strategy threw the country into a deep depression within a deep depression. What is being promoted today can also be deemed to be equally “insane.”
Fortunately, too many Americans – especially those that don’t pay taxes – don’t have jobs. This trend cannot continue. Trends that cannot continue will stop. The question is, how will conservatives stop the bleeding? Our Founders provided the answer. If we could just believe what so many politicians always promise but repeatedly ignore – a return to a smaller government.
There is only one way to seriously shrink the size of government – and that is to privatize entitlements. By letting people invest in the American economy the 15.3 percent of their working life income now confiscated as payroll taxes will not only cut the size of government in half but revive our economy by infusing over $100 billion a month of new capital into the markets.
Politicians purposely ignore “privatization” because it takes money away from their political control and returns it to the control of every American citizen. Politicians and their propaganda ministry keep privatization off the negotiating table and deceive the American people into believing that raising taxes and cutting benefits are the sole methods to solve the dilemma that has created a $119 trillion debt. It isn’t. Privatization was recommend by FDR himself in the 1940s. He wanted the taxes invested in annuities by 1965 for the benefit of individual taxpayers.
Privatization is the solution and we need to pursue it – otherwise we are heading for the problems described in Sanger's New York Times article. The privatization plan contained in RUA is the greatest wealth producing proposal every advanced in a civilized society and is based on free market capitalist principles. Read all about it – you will like it.
Consider the idea that these new deficits and debts leave no room for these new spending proposals, but the individuals who proposed them knew this in January 2009, yet still pursued an agenda that can only be deemed as one to destroy the American capitalist system and its way of life. Unfortunately, we are running out of money.
FamilySecurityMatters.org Contributing Editor Dick McDonald is formerly a CPA at Arthur Andersen & Co. Dick maintains a website at www.riseupamerica.us
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