NATIONAL DEBT: A TSUNAMI OF RED INK

The interactive graphic is HERE.

Explore and weep.

VISUAL REPRESENTATION OF AMERICA'S FINANCIAL WOES

Grim facts that should be sending both parties scrambling to curb the coming financial disaster for America:


Obama self-righteously declares:

"We have to live within our means..."

Yet his policies have increased our national debt to astronomical levels.

The hypocrisy is astounding. Until one remembers that Obama is in campaign mode. Is he ever in any other mode?

EVEN BILL CLINTON UNDERSTANDS THAT WE NEED TO DRILL

From Politico:

Former President Bill Clinton said Friday that delays in offshore oil and gas drilling permits are “ridiculous” at a time when the economy is still rebuilding...

Are Bill Clinton's words indicative of a coming rift in the Democratic Party as the prices of petroleum and petroleum products and the cost of goods in general soar to the moon?

In any case, Clinton's words reflect what every sensible American knows: Obama isn't looking out for American interests. On Friday, March 11, 2011, Obama absurdly blamed the oil companies here in the United States for not drilling.

THE COMING TRAIN WRECK FOR THE U.S. ECONOMY

Gasp!

From the Washington Times on February 14, 2011:

President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years' time.

[...]

Mr. Obama's budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year....

Also see "A Tipping Point Is Nearing" at American Thinker.

Any solutions to this oncoming train wreck will be painful in the extreme.

QUANTITATIVE EASING EXPLAINED (VIDEO)

Found at Social Sense:

THE COSTLY QUOTAS IN THE BANK REFORM BILL

From Newsmax:

Quotas Hidden in Bank Reform Bill Will Cost Taxpayers Millions

Buried deep in the bowels of the massive financial-regulation bill the Senate passed Thursday are massive race- and gender-employment provisions that will cost countless millions to enforce and appear to duplicate other civil-rights initiatives already in place.

[...]

Section 342 of the bill calls for an "Office of Minority and Women Inclusion" to be established in each of 29 federal bureaus and offices.

The regulations appear to go beyond ensuring that discrimination in hiring decisions does not occur. Instead, they require assurance of "fair inclusion." [This provision] will pressure companies to find and hire minorities even if one hasn't applied for a specific job.

Much more HERE.

THE LOOMING TAX INCREASES

Spotted at Feed Your ADHD....

Get ready for the tax increases in 2010 (from The Heritage Foundation):

While millions of Americans are more than ready to put 2009 behind them, they should know that Congress failed to reauthorize dozens of tax breaks for individuals and businesses before the Members scurried home for the Holidays. These “expiring provisions” affect every American in one way or another as individuals or businesses. By allowing them to lapse, Congress has enacted tax increases at time when these taxpayers can least afford it.

Among the items allowed to expire at midnight on December 31, 2009:

* Deduction of state and local general sales taxes (section 164) (Personal Tax Incentives)

* Additional standard deduction, up to $500 for individuals and $1,000 for couples, for state and local property taxes (section 63) (Personal Tax Incentives)

* Research tax credit and alternative simplified credit (section 41) (General Business Tax Incentives)

* New markets tax credit (section 45D) (Community Assistance Provisions)

* Empowerment zone incentives (sections 1391 and 1202) (Community Assistance Provisions)

* Renewal community tax incentives (sections 1400E, 1400F, 1400I, and 1400J) (Community Assistance Provisions)

* District of Columbia Investment Incentives (sections 1400, 1400A, 1400B, and 1400C) (Community Assistance Provisions)

* Net disaster loss designation and $500 limit per casualty for personal casualty losses attributed to federally declared natural disasters (section 165) (General Disaster Relief Provisions)

* Expensing for qualified disaster expenses (section 198A) (General Disaster Relief Provisions)

* Biodiesel and renewable diesel incentives (section 40A) (Energy Incentives)

* Alternative motor vehicle credit for heavy hybrids (section 30B) (Energy Incentives)

Although the House has acted and passed its version of the Tax Extenders Act of 2009, the Senate failed to act on similar legislation, as a result the following additional key tax provisions will expire:

* Increased exemption levels for the individual alternative minimum tax (section 55) and personal tax credits allowed against the AMT (section 26)

* Exclusion of unemployment compensation benefits from gross income (section 85)

* Alternative fuel mixture tax credit (section 6426(e))

* Reduced estimated tax payments for small businesses (section 6654(d)(1)(D))

BHO's campaign promises about no tax increases for most Americans were lies, and those lies are going to hit each and every one of us in the pocketbook.

REPAYMENT OF TARP FUNDS IN THE DUMPER

According to this article in the Washington Times, the taxpayers are going to get the shaft when it comes to getting their money back -- never mind all the politicians' promises at the time the TARP funds were allocated.

But there's something else too:

AIG has missed three TARP dividend payments to Treasury as of Sept. 30. If the company misses a fourth payment Nov. 1, Treasury will have the right to elect directors to the AIG board.

More at this link.

TARP A HUGE SWINDLE OF AMERICAN TAXPAYERS

Surprise! Not!

From American Free Press:

‘TARP’ Turning Out to Be Largest Taxpayer Swindle in U.S. History

CONGRESS AND THE WHITE HOUSE have been busy lately patting themselves on the back for staving off financial armageddon by handing out taxpayer money to Wall Street like it was Halloween candy. But while they’re trumpeting the fact that some financial firms have returned a tiny portion of the trillions of dollars that were given to banks, reality is setting in that Americans will never see that money again and will be paying it off for many, many years to come.

[...]

So far, more than 600 potentially insolvent banks have been propped up by TARP. However, the program is set to expire at the end of this year, and doubts remain as to whether many lending institutions will be able to hold on without continued handouts from taxpayers....

[...]

...So now we know the truth about the TARP: It wasn’t enacted to protect the economy. It was created for the purpose of covering up the greatest theft of taxpayer dollars in the history of the United States.

Generations of Americans will be socked in the wallet.

We've got to vote out the Dems in 2010 and 2012!