| Updated July 21,, 2008. Every family has received their "stimulus check."Speaker Nancy Pelosi boasted, "We didn't have to raise taxes either." That's right! This $ l65 billion "hush money" was simply added to the current debt. As was the $ 170 billion to fund the wars in Iraq and Afghanistan. The meltdown in the financial markets from the failures of the mortgage companies; Bear Stearns to now Fannie Mae and Freddie Mac are going to cause an unbelieveable amount of suffering, but who cares? I wrote of this in my 2005 announcement. In June, there were 62 thousand more "lay-offs" bringing ytd lay offs to one-half million. "Whenever airline pilots and flight attendents are laid off by the thousands, that says something about how bad the economy is ! It's past time to document how all this happened. The recent purchase of Anheiser Busch by a Belgian firm points out the severity of American Companies being bought by foreign ownership. Roche Laboratories buying up more of Genetech! More and more Americans are receiving their paychecks from foreign owners! Folks, this is not a good thing! Thom Hartmann's "When Americans no longer own America" is a good start. Remember, in 1988, twenty years ago, my main campaign issue was , "Where are the jobs"? By reading Hartmann you realize how this happened; it was due to Reagan's "globalization" and "free trade." Reagan's "supply side" economics also embraced "free markets" and less regulation. In 2005, I featured an article , "Economic Armageddon." I warned of the financial bondage that would be place upon our children! Congress has sit on its thumbs, doing nothing to prevent this "meltdown." As more and more financial markets collapse, the taxpayer is going to be used to "bail out" these commercial scoundrels! Fannie Mae & Freddie Mac is not a ripple, it's a tsunami wave in our economy. Instead of letting these firms fold, the taxpayer is called upon to "bail them out'! Our dollar continues to weaken. The dollar is no longer protected by the ""gold standard" so Paulsen and Bernanke can print all the "paper money" that is needed to bail out these crooks, and our children will pay for it for decades. Please read "Where is the outrage!" [ Please note Hartmann's reference to "The New World Order" and think, McCain, Obama, Bayh, The Clintons, Daniels, Kissinger, Wolfowitz, Pence etc. This is part of the "The New World Order" which aims to impoverish America by creating more and more debt. The debt of endless, needless war, the debt caused by the "tax cuts," especially for the rich, and the never ending debt that is being foisted upon we tax payers as more and more Financial institutions go under! Why do I share this with you? Because, the people responsble for letting this happen expect you to re-elect them. Contrary to Obama's glowing promises, nothing will change. You must change and vote for me on Nov. 4th if you want real change and want to help me save America! This financial crises did not have to happen! It should never have happened! If you want to see the cause, look in the mirror! Let's change that on Nov. 4th! *******************end of update******************* When the Comptroller General of The United States, David Waller, resigns because of his concerns about America's fiscal condition, especially the debt, Americans should listen to what this patriot has to say! Please read "How the U.S. can avoid a fiscal wreck." Dear Friends: America is now feeling the disastrous results of twenty-five plus years of Reagan, Bush I, Bush II, Bill Clinton, Cheney, Pence, and Bayh, III's, Reaganomics; "suppy-side" economics and its "free trade" and "free market" and "deregulation" policies. George W. Bush and Rep. Pence have been the biggest boosters of "tax cuts" which they claim create more jobs, which create more tax revenue. President Bush's and Congress' rush to provide an "economic stimulus" rebate combined with the massive budget deficits, high unemployment rate and the fact that Americans aren't more prosperous, but are into a "negative savings" rate hopefully should slay this "myth" of how great tax cuts are. They are great for the top 20% of income earners especially the top 1%. However, the rest of us; the lower 80%, and our children, are faced with massive tax debt burdens in the future. Congress' members lining their pockets with these "tax cuts" has to be one of the most blatant forms of "self interest." These are the valid reasons that the tax cuts have to be rescinded immediately. Not later, now! To wait is really courting economic danger as America's national debt keeps balloning. Interest alone is costing Americans over one $ billion/day. The current crisies in foreclosed and lost homes due to sub-prime mortages and the economic meltdown of Bear-Stearns is a result of the "free market" and "deregulation" policies of President Bush and Congress letting 'Corporate America" screw the American consumer ! Mr. Bernanke and the Federal Reserves "bailout" of the corporate elite, by "counterfeiting" paper money to "loan" financially troubled institutions is simply another "criminal act" by God's messenger, President Bush and his criminally complicit Congress, who are "wiping" out our savings and retirement accounts values by devalueing our dollar; a gang of "embezzlers" who also have wiped out the Social Security Surplus of $2.3 trillion in violation of federal law! By creating, (counterfeiting) more paper money, the Federal Reserve is not only bailing out "the corporate elite" but also devaluing the dollar thus lowering our standard of living and "real income" for America's working families and Senior Citizens. Already social welfare programs are being cut or eliminated in order to pay for the "tax cuts" for the rich, the wars in Iraq and Afghanistan and aid to Israel. Some of the other things that have destroyed America's Economy are (1) Ever increasing budget deficits, i.e. tax cuts for the rich, resulting in a national debt that can't be repaid but also affects the value of the dollar and depreciates the dollar more and more and lowers the value of all savings programs.. (2) Huge foreign trade deficits, (debt) year after year, importing more goods than we are exporting! This is a reflection of the huge number of manufacturing jobs which have been lost to China and other cheaper labor countries when our "tariff based economy" was destroyed by Reagan, The Bushes, Clinton, Pence, Bayh,III and the 'free traders! (3) An ever increasing number of failed sub-prime mortgages, resulting in foreclosures due to the "free market" advocates and the lack of financial regulations. (4) Endless wars with endless costs! The Iraq war has cost over $ 580 billion YTD and when combined with the costs of the Afghan war the costs are over $900 billion and growing. (5) A widening of the disparities of income between Americans. A destruction of the "middle class" and a larger and larger concentration of wealth in the hands of the rich elite. A lower standard of living with ever increasing personal (family) debt; loans, credit card debt and equity mortgages which can't be repaid! President Bush, Rep. Pence and John McCain have lied when they tell you that Bush's tax cuts; "supply-side" economics aka "Reaganomics" have created jobs and boosted the economy, thereby increasing tax revenues.. These fiscal experts want to extend and make permanent, Bush's tax cuts. I am against this and here's the proof. Until Ronald Reagan, the "great communicator" was elected president in 1980, America's national (federal) debt over two hundred years and 36 presidents had not gone over one trillion dollars. In 1981, Reagan's "Program for Economic Recovery" which highlighted the Kemp-Roth tax cuts, which promised to cut income taxes by 30% over three years. By end of fiscal 1982, with a deficit of $ 120 billion, the national debt was $ 1.13 trillion. Fiscal 1983, a deficit of $208 billion raises the nat'l debt to $1.4 trillion. Fiscal 1984, a deficit of $186 billion raised the nat'l debt to $1.56 trillion Fiscal 1985, a deficit of $222 billion raises the nat'l debt to $1.82 trillion. Fiscal 1986, a deficit of $238 billion raises nat'l debt to $2.12 trillion. Fiscal 1987, a deficit of $ 169 billion raises nat'l debt to $2.35 trillion. Fiscal 1988, a deficit of $ 194 billion raises nat'l debt to $2.6 trillion. Fiscal 1989, a deficit of $205 billion raises nat'l debt to $2.87 trillion. So Reaganomics aka "suppy-side economics" instead of increasing tax revenue as promised, actually doubled the nat'l debt in four years and increased the nat'l debt by over $1.9 trillion in 8 years. Reagan had created more debt, (almost twice as much) than all the previous presidents combined. "SUPPLY-SIDE ECONOMICS" SHOULD BE CALLED "SCAMONOMICS." In 1988, I was the Democratic nominee for the Sixth Congressional District of Indiana. My issues were that (1) "free trade" was destroying manufacturing jobs and (2) Reaganomics, aka "suppy-side economics" had created massive deficits creating a massive national debt. Congressman Dan, "The Mental Midget" Burton refused to debate me. While some voters were as concerned as I, Burton, an advocate of "free trade" and Reaganomics was easily re-elected. Americans, apparently wanting more "tax cuts" with more massive deficits and more "free trade" elected George H.W. Bush as President in 1988. Bush, who had once described "Reaganomics" as "voodoo" economics proceeded to create even more debt. At the end of George H.W. Bush's last fiscal year, 1993, the national debt had increased by $1.48 trillion to $4.35 trillion. President Clinton, elected in 1992, did try to control deficit spending. I do fault Clinton as much, if not more than, The Republican presidents, the "free traders" in suppporting NAFTA, the WTO and destroying American manufacturing jobs. Thus after eight years, President Clinton's last fiscal budget year, Sept. 30, 2001, the national (federal) debt was $5,807,463,412,206. Today, July 22, 2008, the national (federal) debt is $9,527,944,567,360. ( 9 trillion, 527billion, 944 million, 567 thousand and 360 dollars.) President Bush, who proudly proclaims to be a "fiscal conservative" and promised to "balance the budget," is responsible for increasing our national debt by $3,595,215,155,154. (3 trillion, 595 billion, 215 million, 155 thousand and 154 dollars.) Bush has created more debt for the taxpayers than any other previous president in the shortest period of time. Here's the proof: Public debt end Fiscal year 2001, (Clinton's last budget) $ 5.807 trillion Public debt end Fiscal year 2002, (Bush II 1st budget) $ 6.228 trillion ($421 billion deficit added to federal debt) Public debt end Fiscal year 2003, (Bush II 2nd budget) $ 6.783 trillion ($555 billion deficit added to federal debt) Public debt end Fiscal year 2004, (Bush II 3rd budget) $7.379 trillion ($596 billion deficit added to federal debt) Public debt end Fiscal year 2005, (Bush II 4th budget) $7.932 trillion ($553 billion deficit added to federal debt) Public debt end Fiscal year 2006, (Bush II 5th budget) $8.506 trillion ($574 billion deficit added to federal debt) Public debt end Fiscal year 2007, (Bush II 6th budget) $9.007 trillion ($501 billion deficit added to federal debt) Public debt YTD Fiscal year 2008, (Bush II 7th Budget) $9.528 trillion ($ 521 billion deficit YTD, 07-21-08, added to federal debt. This debt increase of $3.72 trillion averages out to over $500 billion per year! Because of the current economic "meltdown, " George Bush could have a one year's budget deficit of one trillion dollars. Once and for always, I hope this slays the myth that "Reaganomics" aka "supply-side economics" (tax cuts for the wealthy) creates jobs and increases federal revenues! The interest on this debt is costing the taxpayers over $1.0 billion per day! President Bush will be the president responsible for the debt increasing to ten trillion dollars! That's right, ten trillion dollars! How did this happen? Who will pay this debt? I am no economist or tax specialist; but common sense should show this debt has arisen primarily from two sources; (1) Exceeding the budget with deficits; that is spending taxpayers' monies that you don't have. (2) Extending tax cuts to the rich, which then causes a shortage in taxes collected. The government then makes up for these by printing more money or borrowing by issuing treasury notes and by "embezzling" the Social Securitiy surplus. Please remember, with this massive debt, which causes a weakening of the dollar, (devaluation) many things connected to our currency begin to lose value. Investments, Savings accounts, IRAs, CDs, and especially, commodities,(oil, grains,.) We spend more to try to maintain our standard of living! V.P. Cheney has boasted, "Deficits don't matter!" But they do! Deficits are debt which has to be repaid with interest! Remember, just the interest is costing the taxpayers over $1.1billion per day! Dr. Allen W. Smith, Ph.D., a Hoosier and economist does an excellent job in detailing what has happened to cause these budget deficits and America's great debt and its effect on Social Security in his excellent book, "THE LOOTING OF SOCIAL SECURITY" How The Government Is Draining America's Retirement Account. How about Jobs? “If elected, I promise to turn ’foreign made into American made,’ ‘foreign trade into American trade,’ and ‘foreign aid into American aid.’ ” George Holland’s Campaign Promise of 1988! Where are the Jobs, Congressman Burton?" - George Holland's challenge to Congressman Dan Burton in 1988. "Where are the Jobs, Congressman Pence?" - George Holland's challenge to Congressman Mike Pence in 2006. Where are the jobs, Senator Bayh and Rep. Pence? George Holland's challenge to Bayh and Pence in 2008, holding both parties responsible for "free trade," "globalization," and the loss of manufacturing jobs. In 1988, the Reagan-Bush policies of "free trade" had already begun to destroy our "tariff based" economy. Remember, "tax cuts" were supposed to create jobs, which would create more tax reveuues. Every year of the Reagan presidency created larger and larger trade deficits. This loss of manufacturing jobs was my first issue; and that, my friends, was twenty years ago. I didn't even win Madison County which was home to thousands of jobs in the auto industry. Today, those jobs are gone! In 1980, the income of a C.E.O. of a major corporation was 40X that of the income of the average worker in his corporation. Today, the income of a C.E.O. of a major corporation is 160 X that of the income of the average worker in his corporation. So who has benefitted from "free trade" and "free markets" and deregulation? The average worker or the corporate elite? ABC Nightly News with Brian Williams recently reported that almost 4 million manufacturing jobs have been lost in the past decade! On 02-12-08, Yahoo News carried the folowing AP release. "GM posts biggest annual US auto loss." Here's what really caught my attention; "The Detroit-based auto maker said it was offering a new round of buyouts to all 74,000 of its U.S. hourly workers who are represented by the United Auto Workers. GM won't say how many workers it hopes to shed, but under its contract with the UAW, it will be able to replace up to 16,000 workers doing non-assembly jobs with new employees who will be paid half the old wages of $28 per hour." Perhaps these new 16,000 jobs paying $14.00 per hour, half of the current hourly wage of $28 per hour are the new jobs that Zionist Rep. "Neocon Mike" Pence boasts about when he claims that tax cuts for the wealthy, including himself of course, create new jobs. How has this happened? Thom Hartmann's When Americans No Longer Own America explains! Now here's more bad news. The wars in Iraq and Afghanistan are called "off budget" items and declared as "emergency" spending, (even after six years.) They are being paid for by "borrowing," not by raising taxes. I believe these wars have cost at least another $ trillion YTD. In addition, Congress and Bush continue to "plunder" the Social Security Surplus funds by embezzlement. This embezzlement of $2.3 trillion has been done in violation of federal law! But why should you care? My point is, I believe the true federal debt, year to date, is at least $ 11.0 trillion. Much of this debt, at least 40%, is being held by foreign investors, especially China & Japan. How can this debt ever be paid off? Americans will have to understand that with the massive debt increases by more and more borrowing and by inflating the money supply, the value of the dollar, which is the international trade standard, will continue to decline. Remember, no country uses gold as their monetary standard. Our creditor nations will demand more and more interest, because of the continually weakening dollar and at some point, will demand to be paid back in a stronger, more stable currency, such as the "euro." Already the oil producing countries, OPEC, are talking about switching to and being paid in the "euro" which will become the international standard of currency for trade. When this occurs, our economy, our great country will collapse and some form of martial law will be established by the elite. Will you be ready for this? You have been warned! President Bush could have had the best reasons in the world for invading Iraq; he didn’t of course, it was based on lies, deceit and greed. Due to our huge national debt and huge personal (family) debt, any wise person would have said, “With all of America's debt, is this war really a smart thing to do?” WARS COST MONEY! (1)TAXES HAVE TO BE RAISED OR MONIES HAVE TO BE BORROWED TO PAY FOR THESE WARS! WARS AREN'T COST FREE! If you have read “The Costs of War” link, you know that the Iraq war alone has cost over $ 510 billion, with a projected total cost of over $ 3 trillion. The Iraq and Afghanistan wars have cost YTD over $800 billion. Who will pay these war costs? Secretary of Defense Gates is estimating that next years war costs will be at least $170 billion or more. This is in addition to the $515.4 billion Pentagon Budget request. Folks, that's a lot of money! It could be spent on better things! Please see costs of war! Because Americans do not want more taxes, these war costs will never be paid; as our economy is collapsing, Bush, McCain, Clinton, Obama, Pence and Congress, (Republicans and Democrats) are financing this war on “the cheap", that is with monies which have been declared as "emergency funds" but which are not included in the budget, but shows up in the debt! So how much is the "true"national debt? Who cares? Who knows? The Social Security surplus of $2.3 trillion continues to be "embezzled" by Bush, Bayh, Pence and Congress in order to pay for the "tax cuts" for the very rich. This is their way of using deceit in order to deceive the American people about who really benefits from the tax cuts and about the size of the true budget deficit each year. In my opinion, these monies will never be repaid! How can Bush and Congress repay over two trillion dollars of embezzled Social Security Trust Funds, (Surplus)? It can't be done! In a blatant violation of Federal law, President Bush, Cheney, Senator Bayh, Rep. Pence and Congress, ( "Borrow, Embezzle and Spend Conservatives") have effectively "embezzeled" the Social Security Trust Surplus, in order to pay for (1) The President' s tax cut for the very rich! (2) Also, the monies from this embezzled trust have been "looted" in order to send Israel, $ 11 million/day, day in and day out, ($5 billion per year). Also the new American Embassy in The Green Zone, is on schedule but now with a new projected cost of $ one billion. So if you support this war, don't complain that the warmongers, Psychopath President Bush, Senator Bayh and Zionist Rep. "Neocon Mike" Pence, have looted and embezzled your financial future. After all , "Silence is Consent." Psychopath President Bush, Senator Bayh and Israelphile Rep. "Neocon Mike" Pence use deceit when they talk about "balancing the budget," "cutting deficit spending" and creating jobs by giving permanent tax cuts to the very rich.! Please remember, The National (federal) Debt has increased over $ 3.6 trillion under Psychopath President Bush and Israelphile Rep. "Neocon Mike" Pence and is still growing! This is the largest increase in the federal debt, by any president in the shortest period of time. President Bush has lied about a "balanced budget," just as he has lied about saving Social Security, the war and many other things! Our great country is now faced with a national debt of over $10.0 trillion after the debt ceiling was raised from $8.1 to $9 trillion and now to $9.815 trillion. That's a debt limit increase of $1.72 trillion in less than one year! (“CONGRESS RAISES CEILING for BORROWING” by Jonathan Weisman and Shailagh Murray). That’s $30,000 of debt for every man, woman and child. It will never be repaid! Rep. Pence and President Bush have called for permanent tax cuts, but who benefits? You must remember, there is a direct correlation between tax cuts for the wealthy and an ever increasing national debt. It has been reported that Mr. Bush received $28,000 more in income, after taxes, in 2005 compared to 2004! Mr. Cheney, a muti-millionaire received $ 1.1 million more income, after taxes, in 2005 than in 2004! With Zionist Rep. "Neocon Mike" Pence's six figure income, ($200,000) how many tens of thousands did he "pocket" because of the tax cut! HOW MUCH MORE DID YOU NET? With the tax cuts, the debt ceiling was raised another $900 billion, so who benefits? (“Bush Budget Calls for Renewal of Tax Cuts” by Andrew Taylor). Is the deficit really being reduced by Bush and Congress, or is it political B.S.? (“Don’t let Congress fool you with deficit ‘reduction’ bill" from USA Today). Who will pay this debt and when? The national (federal) debt has increased at least $3.6 trillion under Psychopath President Bush and Zionist Rep. "Neocon Mike" Pence ! Only the very wealthy benefit from the Bush-Pence permanent tax cuts! V.P. Cheney may boast, “Deficits don’t matter,” but they do! "In 2005 the average household in America was paying almost $1600 a year for this interest. By 2015, the burden will be two and a half times larger: $4300 per year." ("What the Federal Budget Deficits Will Mean to You", aol.com) A start to restore fiscal sanity and a balanced budget has to be (1) the stopping of deficit spending! No more budget deficits! (2) The current tax rate of 15% on Capital Gains income has to be stopped and this income taxed as regular income. (3) The tax cuts for the wealthy have to be rescinded and a progressive income tax put into place immediately! (4)The Federal Reserve should be abolished and the printing of money should be under the control of the Treasury department. (5) There should be a legal limit on the amount of "new" paper money introduced into the economy each year. If the middle and working classes have to pay more than their fair share of this debt then why shouldn't the wealthy pay their fair share? The middle and lower classes are getting "screwed" by the Bush-Cheney-McCain Reid-McConnel-Pelosi-Hoyer-Boehner-Pence "tax cuts." _ (6) All corporations, especially multinationals, doing business in the U.S. should pay their fair share of taxes, before taking those profits out of the U.S. All off shore corporations, (tax havens) have to be terminated. If corporations sell ity here , thjey must pay a fair tax on that profit! The continuing scam of "supply side" economics being perpetuated by the likes of Senator John McCain and Rep. Mike Pence has to be stopped. After 25 years of "supply side Reaganomics", Americans know there are no "trickle down" benefits to the working class! "Supply side Reaganomics," via tax cuts have created more wealth for the ultra rich, placing a greater tax burden upon the niddles and working classes. Reagan's 1981 "Program For Economic Recovery"featuring the Kemp-Roth tax cuts, (supply side economics) should now, after 25 years, be known as the "Program For Economic Disaster." Our government was in existence for two centuries before our national debt, under Reagan, reached one $ trillion. Within four years, the national debt had doubled to over two $ trillion. Today, twenty years later, the national debt is approaching ten trillion dollars, our economy has "tanked," American families are into "negative savings"and as Thom Hartmann reminds us in his When Americans No Longer Own America, "Our nation's largest employer has gone from being the unionized General Motors to the poverty-wages Wal-Mart." Now, do you the reader and voter understand why Rep. Mike Pence is a coward when he refuses to debate me? How can he defend these policies? Zionist Rep. Pence would have everyone believe that tax cuts for the very wealthy ($130,000 for a person with an income of $1 million) create jobs. IF THIS IS TRUE, THEN TELL THAT TO THE WORKERS AT DELPHI, VISTEON, PFIZER, KODAK, CHRYSLER AND CITICORP! ! Again, this is so much political B.S. Every industrial nation has to “export” in order to have a viable economy! The more exports, compared to imports, the stronger the economy. The U. S. economy has been worsening and the standard of living is steadily falling for America's families! More American families are livng in deep poverty! There is an old saying that whenever your neighbor loses his job, it's a recession, but when you lose your job, it's a depression!. Home foreclosures increased 75% in 2007! Home foreclosures in 2008 have increased by 54% over 2007! Americans have no one to blame but themselves for their job losses, etc. Here in Indiana, Congress has remained in Republican hands for over twenty years! . Israelphile Rep. Pence, Senator Bayh and Bush, believe in CAFTA, NAFTA, GATT and WTO and globalization! All three would have Americans believe that “outsourcing” and "offshoring" create jobs! (“U.S. Trade Deficit Hit All -Time High in 2005” by Vikas Bajaj) Those countries who have huge trade surpluses with the U.S. are able to take those profits and (1) buy up more and more of our national debt, and also (2) use that money to buy more and more control of American companies. What has happened to our once great country with a booming economy and thus prosperity? One of the most practical papers explaining this is “When Americans No Longer Own America” by Thom Hartman. This is a must read. What has been the driving factors in the outsourcing and offshoring of American jobs and globalization and a lower standard of living? Four words! Cheaper Labor -CORPORATE GREED! Remember, 4 million manufacturing jobs have been lost in the past decade! Now is any one stupid enough to believe Zionist Rep. "Neocon Mike" Pence or Senator Bayh when they say that tax cuts, (for the wealthy) create jobs? (1) In February, Chrysler announced 13,000 job cuts, that's 132,000 jobs lost in the auto industry since May, 2005! (2) On March 27, 2007 Citicorp announced it may cut as many as 15,000 jobs! (3) March 26, 2007 on Yahoo News, "Intel plans $2.5B chip factory in China." (4) Kodak Corporation had cut 25,000 to 27,000 jobs since 2004 and last year announced another 3,000 lay offs. (5) Pfizer Corporation recently announced 10,000 job cuts, 2200 of which are to be U.S. sales positions. (6) Citigroup, the nation's largest financial institution announced on April 11, 2007 that it was cutting 17,000 jobs. I have included two papers to help make this point. ("American Axle to unions: deal or new work goes overseas" by Terry Kosdrosky) ("Dell to Hire 5,000 People in India" by Rahesh Mahapatra) This would make 15,000 Dell Corporation jobs in India. What has happened at the Delphi and Visteon plants in Anderson, Kokomo and Connersville is simply a continuation of the destruction of the American working class family. ("Delphi Seen Asking Judge to Cancel Deals" by Dee-Ann Durbin) GM, WHILE DOWNSIZING HERE, IS PLANNING NEW FACTORIES IN ASIA. What happens because of the huge trade deficits, “the dollar keeps falling!” ("Economic ‘Armageddon’ Predicted" by Brent Arends) Americans are swimming in debt, with the average family paying about three thousand dollars annually, in credit card debt interest. How cautious should Americans be? ("Savings Rate at Lowest Level Since 1933" by Martin Crutsinger) which states “A negative savings rate means that Americans spent all their disposable income, the amount left over after paying taxes and dipped into their past savings to finance their purchases.” Is there any hope for our economy to benefit from high tech jobs? In past years, I have thought so, but now I don’t. The future for the benefits of high tech jobs lies in Asia. (Tech Companies Focus on Asia To Expand Jobs) “Technology companies are seeing a rebound in business, but top executives this week said any jobs added to meet growing demand will likely be in countries where labor is cheaper than the United States.” In closing on this section on the economy, I have used third party material in order to document the seriousness of our economy. Rep. Mike Pence has been in office for over five years and like Mr. Bush, he has turned his back on America’s working class families, being a supporter of "globalization." The Sixth District voters apparently want to “stay the course” and watch the "offshoring " of jobs to China and India. The Economy can be improved only by "changing course" back to a tariff based economy, by changing Congressional representation, but the voters have rejected this by re-electing Rep. Mike Pence. So to the workers at Delphi and Visteon,; you have sown the seeds of your job loss by either supporting Rep. Pence or your apathy and indifference to your job situation. Will you the voter help me restore good jobs for America by supporting my candidacy and voting for me? |
| The following is taken from Dr. Allen W. Smith's excellent book and eye opener on Social Security, "THE LOOTING OF SOCIAL SECURITY," Chapter 11, page 187. "The discussion is are we as a country violating a trust by spending Social Security trust fund moneys for some purpose other than for which they were intended. The obvious answer is yes...I think that is a very good illustration of what I was talking about, embezzlement, thievery. Because that, Mr. President, is what we are talking about here. But for the dialog started by the Senator from New York, we would not be here today. And I publicly commend and applaud the vigorous activity generated by the Senator from New York because on that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past ten years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recepients of this country.... --Senator Harry Reid (D-NV) Speech on Senate Floor, October 9, 1990 In 1988, during my campaign against Rep. Dan "The Mental Midget" Burton, I learned that the Social Security Trust Fund, (Surplus) was not being placed in a "trust;" not being kept separate from but was being co-mingled with general revenue funds and used by the Reagan administration for general budget items, thus reducing the true deficits of the annual budgets. Obviously, this action by Reagan & Congress masked the true deficit each year. It was a blatant form of deceiving America, especially America's seniors but it was also a blatant form of embezzlement. I wrote a media release called "Cooking The Books", whereby I tried to speak out against this deceit. NOT A SINGLE MEDIA PERSON RESPONDED TO MY MEDIA RELEASE. America had no interest in exposing this deceit! President Reagan, like Presidents Bush and Bush, Jr. continued to proclaim a "balanced budget" and "protecting Social Security" while running up massive budget deficits each year and using the Social Security Trust Fund to mask the deficit. August 14, 2005 was the Seventieth Birthday of Social Security. Unlike other presidents, President Bush made no mention of that special day. (“The Birthday Bush Wants To ignore”) Rep. Mike Pence made no mention of that special day being the 70th birthday of Social Security either, but I, George Holland, did! Why did Bush and Pence ignore this birthday? Social Security is a social benefits program that Bush, Congress and Pence have looted, IN VIOLATION OF FEDERAL LAW, to pay for items, including (1) The Occupation of Iraq, currently $ 480 billion, projected to be $3 trillion, (2) $11 million a day in aid to Israel ($5 billion per year) (3) The new American Embassy in the Green Zone now costing a projected one billion dollars and (4) tax cuts for the very rich. The Social Security Trust Fund has no surplus of $ 2.3 trillion. It has been looted, embezzled. Gone forever, in violation of federal law! What did Presidents George H.W. Bush, Clinton and George W. Bush do in following this federal law? As Dr. Smith reminds us;they simply ignored it! These men have sworn to uphold the Constitution and all laws of the United States, yet they make a mockery of this oath by deliberately breaking the law! To show the deceit used by President Bush in his State of the Union address, Feb. 27, 2001, in talking about the budget and Social Security, the following are excerpts from George W. Bush Another Round of Reaganomics in Dr. Smith's book. "My plan pays down an unprecedented amount of our national debt. And then, when money is still left over, my plan returns it to the people who earned it in the first place... My budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Socal Security alone...We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years...That is more debt, repaid more quickly than has ever been repaid by any nation at any time in history." ..."To make sure the retirement savings of American seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone." ..."My budget has funded a reasonable increase in our ongoing operations. It has funded our nation's important priorities, it has protected Social Security and Medicare. And our surpluses are big enough that there is still money left over." "We have increased our budget at a responsible 4 percent. We have funded our priorities. We paid down all the available. We have prepared for contingencies. And we still have money left over." Friends, these are lies, lies and more lies! As Dr. Paul Craig Roberts has said; "George W. Bush is a natural born liar." Aren't you outraged! This is the same President who promised, like the others, to protect Social Security. This "embezzler," this "crook," has "embezzled" over one half of a trillion dollars from the funds needed for the poor, the elderly, the disabled and yes, even needy children. And who cares? Certainly not Bush's "embezzle, borrow and spend" twin, our Congressman, Zionist Rep. Mike Pence. This is the same embezzler who claims to be a "compassionate conservative" and " God's messenger." I was at Muncie and Connersville in 2005, when Rep. Mike Pence talked about the “crisis” in Social Security without once mentioning how the Trust Funds, (Surplus) had been spent, (embezzled). At Connersville, I challenged his comments, and he claimed the surplus was “just paper I.O.U.s.” His comments illustrate the problem!. The monies are no longer there. Rep. Pence is an attorney, the monies have been spent and can not be repaid. This has been done in violation of federal law, and Rep. Pence, an attorney, should know that. The money is gone forever and so are Seniors' securities. Is there a crisis? (see the clocks at the top of this page) Yes, there is. Since the Social Security Surplus is invested in U.S. Treasury funds, the Treasury then issues paper I.O.U. s for these funds and these funds become part of the National Debt and accrue interest of $80 billion plus each year. However, this surplus and this accrued interest are immediately embezzled by Bush and Congress and spent on government programs. Remember, this is being done in violation of federal law. This is why it is important for all Americans to understand the connection between Social Security, the National Debt and the health of our economy. The health of our economy is a catastrophe, thanks to the "embezzle, borrow and spend" Conservatives! Pence and Bush's actions are "A Betrayal Of Our Trust"! This national debt ceiling is now a a stated $9.815 trillion. The National Debt is growing, fueled by spending more monies than being taken in via tax revenues, a tax revenue shortfall helped by tax cuts for the very rich! V.P. Cheney netted $1.1 million more in 2005 than 2004 and Pres. Bush netted $26, 000.00 more thanks to the "tax cuts" that Bush and Pence, ("borrow, embezzle and spend") have been pushing! But who makes up this difference? The government goes out and borrows it and also "embezzles" it from Social Security! It is added to the National Debt for which we all are responsible. President Bush and Zionist Rep. Pence, the "embezzle, borrow and spend" twins have added over $ 3.4 trillion to our national debt. Please remember; Bush and Pence's tax cuts for the wealthy create deficits, the more deficits, the more borrowing, the greater our national debt, the greater the threat to Social Security and Medicare. That is why, with the increasing National Debt, Social Security surpluses can never be repaid. They are gone forever, embezzled forever and so is the future security of America's "baby boomers." The financial collapse is here! How can it be shown this debt relates to the solvency of Social Security? To answer that I have included “third party” references such as “The National Debt is a Political Problem." An excerpt reads, “The national debt is aimed at Social Security and left unchecked it will help kill it. So far the federal debt has borrowed this $1.9 trillion from the Social Security Trust Fund and Republicans are warning that it’s going to be hard or impossible to pay it back.” So what's the future? It is important to understand that these Social Security funds, placed in trust by federal law, belonged to the individual workers and not the government. However, Americans must understand these monies have not been placed in trust but have been "embezzled" in I.O.U.s and can never be repaid to the system. If you can't pay off a national debt of $8.1 trillion, then how do you pay off $9 trillion of debt? That's $30,000 of debt for each man, woman, and child. It can't be done! We no longer have to worry about privatization. Remember this; as your U.S. government spends more and more borrowed and embezzled monies, (i.e. the costs of the Iraq war, $2 trillion and $11 million a day in aid to Israel and $ one billion for a new American Embassy in Bhagdad ) which it does not have and gives tax breaks to the very wealthy, creating fewer tax revenues, the National Debt keeps increasing. Just to service the debt interest on this ever increasing National Debt requires more money, thus worsening an increasingly bad financial situation. The interest on the National Debt is costing over a billion dollars a day! "In 2005 the average household in America was paying almost $1,600 a year for this interest. In ten years the burden will be two and a half times larger: $4,300 per year." ("What the Federal Budget Deficits Will Mean to You", aol.com) How do Bush, Pence and Congress intend to pay this debt? Social Security should have been protected, especially because of its benefits to the elderly poor! “Social Security Lifts 13 Million Seniors Above The Poverty Line: A State by State Analysis“ from the Center on Budget and Policy Priorities states, “Excluding Social Security income, in 17 states more than half of the elderly-- and, in 45 states, more than 40 percent of the elderly-- have incomes below the poverty line. ...With Social Security, the elderly poverty rate in the large majority of states is less than 10 percent.” In Indiana, those figures are 51.5% and 8.1% respectively! Can you imagine the catastrophic economic consequences, especially to the elderly poor, when our economy collapses due to this excessive debt and there is no Social Security surplus available? I am no accountant, actuary, or tax attorney, but an American who is trying to alert my fellow citizens to the dangers of deficit spending and how it will affect social programs such as Medicare and Social Security! If elected to Congress, I promise you, Section 13301, of The Budget Enforcement Act of 1990, the law to protect our Social Security Surplus will be enforced ! Hopefully, the information titled “Social Security and Medicare” in the publication, “What the Federal Budget Deficits Mean to You” will be helpful as a guide to understanding what’s happening! I have tried to warn Americans, especially Seniors, of the tremendous costs associated with the Iraq War and Occupation. The invasions of Afghanistan & Iraq are only the first of many wars planned by The Project for a New American Century (PNAC). It is my belief that because of America's indifference and apathy to these wars, our great nation may never recover. |
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| The Economy And Social Security |
| The Economy |
| George Holland For Congress - 2008 Putting American Families, Jobs, and Seniors First; Not War For Profits and Oil, Israel or AIPAC! P.O. Box 751, Rushville, IN 46173 georgehollandforcongress@yahoo.com |
| Fortunately there is an American patriot speaking out about this cruel hoax. Allen W. Smith, Ph.D., has written an excellent book, "THE LOOTING OF SOCIAL SECURITY," (HOW THE GOVERNMENT IS DRAINING AMERICA'S RETIREMENT ACCOUNT). In his book, Dr. Smith informs us that U.S. Senators Moynihan and Hollings became concerned that the Social Security Surplus was not being saved in a separate fund but was being co-mingled and spent with general tax revenues. A proposal by Senator Hollings "eventually became Section 13301of the Budget Enforcement Act of 1990, which was signed into law by President Bush on November 5, 1990. It prohibited including Social Security funds in any budget calculations, including deficits or surpluses. Section 13301 explicitly states: Not withstanding any other provision of law, the receipts and disbursements of the Federal Old Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of (1) the budget of the United States Government as submitted by the President, (2) the Congressional budget, or (3) the Balanced Budget and Emergency Deficit Control Act of 1985." |
| On April 26, 2005, President Bush participated in and spoke at a Social Security Roundtable in Texas. Here's an excerpt from what he said. "You see, a lot of folks, I'm sure some right here in this audience, believe Social Security is a system where we take your payroll taxes and we hold it for you and then when you retire, we give it back to you. That's not the way it goes. We take your payroll taxes, we pay out the benefits to the current retirees; and with the money left over, we pay.. pay for other programs. And there's nothing left but file cabinets with I.O.U.s. And that's how it works." |
| Social Security |
| On Feb. 25, 2007, Yahoo News carried the following: 'In US, record numbers are plunged into poverty: report' Here are some excerpts: ---"The gulf between rich and poor in the United States is yawning wider than ever, and the number of extremely impoverished is at a three decade high, a report out Saturday found." ---"the McClatchy Newspapers analysis found that almost 16 million Americans live in 'deep poverty' defined as a family of four with two children earning less than 9,903 dollars-one half the federal poverty line figure." ---"For individuals the 'deep poverty' threshold was an income under 5,080 dollars a year." ---"The McClatchey analysis found that the number of severely poor Americans grew by 26 percent from 2000 to 2005," ---That's 56 percent faster than the overall poverty population grew in the same period," "Worker productivity has increased dramatically since the brief recession of 2001, but wages and job growth have lagged behind. ---At the same time, the share of national income going to corporate profits has dwarfed the amount going to wages and salaries," ---That helps explain why the median household income for working- age families, adjusted for inflation , has fallen for five straight years. |