The first is we are at war with World wide Radical lslam.A war that will probably last for years to defeat an enemy who has stated they want to destroy us!
The second is despite the relatively small number of home foreclosures. To date, approximately 500,000 of those sub prime borrowers have lost their homes to foreclosures. An additional 1.8 million are likely to follow as the market deteriorates. That’s nearly 2.4 million lost homes.
But compared with the number of total households in the USA, 111,269,000 in 2007, of which 67% were owned. It is evident that despite the painful experience for those who loose their homes. It is not a big National problem. Many of the people involved are second time home owners who over reached their financial capacity by buying a second house that cost more than they could afford!
The Third Truth is Social Security is the single largest federal program, and it is going broke. In 2004, the Social Security system took in $569 billion in tax revenue and paid out $493 billion in benefits. The program provided benefits to more than 47 million people--about two-thirds of them retired workers and the rest disabled workers, survivors of deceased workers, workers' spouses, and minor children. Although today the program takes in more revenue than it spends, that situation will not continue once large numbers of baby boomers begin claiming retirement benefits. In coming years, the Social Security system will face mounting financial pressures as its outlays start to grow much faster than its revenue. CBO projects that scheduled Social Security outlays (those implied by the current benefit formula) will rise from 4.3 percent of gross domestic product (GDP) this year to 6.5 percent in 2050. Revenue, however, is scheduled to remain at 4.9 percent of GDP. This is the third basic truth, Social Security is going broke! And yet, candidate Hillary Clinton seems to ignore the Basic truths and promise if elected she will spend 70 billion dollars on what this blogger believes are nothing more than an extension of the Federal Governments rush to bankruptcy or massive tax increases.
Democratic presidential contender Hillary Clinton on Friday proposed a $70 billion emergency spending package and possibly another $40 billion tax rebate to counter what she sees as a coming recession, according to the New York Times. “I have been looking at the latest unemployment numbers, and I really think it is imperative that we start to move to help people dealing with the housing market and give the country a jolt of confidence in the economy,”(aka more welfare at taxpayers peril) the senator from New York told the Times. Clinton’s plan would provide $30 billion for an emergency housing crisis fund for states to help low-income families unable to make mortgage payments; $25 billion to help low-income families pay heating bills this winter; $10 billion to extend unemployment insurance for people unable to find jobs; and $5 billion for alternative energy programs, the Times said. The $40 billion tax rebate would be enacted later if economic conditions worsen. Clinton told the newspaper she “absolutely” believed it was possible for Democrats in Congress to work with US President George W. Bush to enact a stimulus package early this year. The US presidential election does not come until November and the new president would take over a year from now. But President Bush has said any stimulus he is considering would most likely focus on tax cuts rather than spending.
The more I hear from Clinton, Obama and Edwards the more I think I am hearing a speech from the famous Socialist of the past, Karl Marx. But even he wasn't advocating the "genocide"of partial birth abortion!