obamacare

By Rick Adamson 11.22.11
© 2010 Rick Adamson

Fox News just reported that California’s’ unemployment system has no money and that the State has already borrowed $9 Billion from the Federal Government in order to continue to pay these benefits (bailout?).  Moreover, that it has a structural deficit of $20 Billion (meaning that their budget is, for all practical purposes, permanently out of balance by that amount).

Their credit rating is the worst of any of the 50 States.  Their high school drop out rate is 32% despite having one of the most expensive systems in the Country.

Considering this they just elected a liberal Democratic Governor Brown, and Representative Boxer.  Where do they get off?  When will they get serious?

It appears that they expect the Feds to continue to bail them out.

I don’t know about you but I say NO.  I do not want to be a part of providing them with money to waste on their Liberal ways.

If we are not careful the rest of the Country will look like California sooner then you may think.  Let’s all study California in order not to repeat her mistakes.

For more see the following article:

The American Dream Waking People Up And Getting Them To Realize  That The American Dream Is Quickly Becoming  The American Nightmare

Taxes as a Percentage of GDP

© 2010 Rick Adamson

By Rick Adamson 11.7.10

The Federal Government collects taxes which historically amount to 20% to 25% of gross domestic product (GDP). GDP is the value of all products and services produced and sold during a particular period. I have for many years thought that total taxes, after considering local ones, amount to closer to 50% of income.

I just found this link which will allow you to see the spending, as a percentage of GDP, of the Federal government as well as for State and local governments.

It supports my belief. That is that State and local taxes also amount to between 20 and 25% of their respective GDP’s.

Thus, on average, once you pay your Federal income taxes, your State income taxes, your State and local sales taxes and your property taxes etc., you have spent about one half of what you earn (your GDP).


Considering that about half of working people do not pay any Federal Income taxes at all it would be fair to say that many of us pay considerably more than half our income for taxes of various kinds.


It is too bad that the politicians spend this money like drunken sailors. If they would view these funds as they do their own they would not want to waste it. But they do not view the public’s money in that way but as a source of funds to further their power hungry gold digging ways.


I just heard David Stockman (budget director under President Reagan) say that in the last 30 years the size of the US economy has tripled while spending is 14 times higher. That means that spending has out paced revenue growth by almost 5 to 1.


If you or I managed our household in that manner we would have long ago been bankrupt. The big difference is that you and I cannot print our own money. And the Feds cannot do it forever either. It cannot last!