Where the money is....

When Willie Sutton bank robber was asked why he robbed banks he said "Because that is where the money is". How things have changed.

The banker's Bank the Federal Reserve is now robbing savers with near zero interest rates. Why? Because that is where the money is. It is a hidden tax. No law was passed. Still you are having the your money stolen through near zero interest rates to restore bank's balance sheets. If you had $300,000 in an IRA (or 401k) earning 5% in 2007 ($18,000 a year with nearly no risk) you are lucky if you earn half that today. That is a $9,000 or more of hidden taxes.

I hope to expose these types of actions and others by the FED and government. Boomers need to be vigilant - because their savings is where the money is. I will also delve into other areas of finances of interest to Boomers.

Sunday, March 13, 2011

Lies, damn lies, DC lies

Saw a poll that a large percent  of folks believe we can balance the budget by cutting out waste and unnecessary spending.  Now to listen to the talking heads on TV you would think this is crazy.  But is it?

There are lies - like when you child says they picked up their room.  There are damn lies.  Like when the wife says that outfit cost half of what it really cost, or he tells the wife they spent the evening at a sports bar watching "sports"  (that was no sports bar  sport and  lap dancing is not a sport).  Then there are DC lies.  The deficit is 1.5 TRILLION for this fiscal year and 42 cents of every dollar spent is borrowed and we are being told it is a Medicare or Social Security spending problem. 

So who is right - the common folks or the DCers?  In 2007 the deficit was under $200 billion.  We can do the math - that is $1.1 trillion less than this year's deficit.  There is no way that Medicare and Social Security account for that huge an increase in spending.   There is only on conclusion - spending is out of control in DC and needs to be reined in (back to 2007 levels).  There is a lot of money being spent irresponsibly as wells as waste and fraud. 

The RepukeCons want to cut $61 billions and the DemoRats less than $10 billion between now and Oct (end of the fiscal year).    DC - we are not that stupid - the deficit is $1.1 TRILLION more than 2007.  Now the "folks" may be wrong that the problem can be fixed solely by reducing spending and elimination of waste  but they are  80% right.  And who knows - we get the government off business's back maybe growth would bridge the other 20%. Once we fix that 80% we can talk about fixing the other 20% (Medicare, Social Security, taking troops out of Europe, Japan, South Korea and closing half of the 800 overseas bases).

Trust the common sense of the folks.  It beats the politician "intelligence" in DC every time.

Let your Senators and representatives know - GET WITH THE DAMN PROGRAM OR WE WILL FIRE YOU.   It doesn't matter which party you are affiliated with - we will FIRE you!!!!


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