ONCE WE HAD A WONDERFUL ECONOMY
THERE IS HOPE FOR AMERICA!
WHAT HAPPENED TO OUR WONDERFUL ECONOMY?
Why did the government take gold and silver out of our money? So that they could spend money without having it!
On the average day they take in about $6 billion per day and spend $10.6 billion per day. The average daily deficit is taken over the period from October 1, 2009 to May 20, 2010.
The $6 billion are derived from the people in the form of income tax, social security contributions and other government incomes including fines.
The other $4.6 billon are either borrowed or CREATED out of NOTHING.
The government excessive borrowing takes needed money from business -- causing loss of business and jobs.
Much like adding water to a fruit drink; when MONEY is CREATED out of NOTHING it dilutes the value of the rest of the money. The weaker (diluted) money becomes worth LESS.
As taxes go up -- to finance our government's insatiable spending -- the cost of living increases; people both lose ground from taxes paid and from increased cost of living. Inflation is the cruelest tax increase -- its affects are MOST CRUEL for the poorest of our people. I believe that lost jobs then inflation are the leading cause of homelessness.
Diluting our money and increasing taxes are causing the "FIZZLE" of our economy.
To correct this we must balance our federal budget and significantly reduce taxes.
By 1898 we had become so productive that we exported about 10% of our production! The jobs were HERE!
* We had a trade surplus of about $600 million dollars
* The federal debt was $25 per person
* The federal budget had a surplus of over $50,000 per day!
1898 was probably our pinnacle year of wealth creation; AND a lot of good was still happening:
By 1912 inventions included the airplane, the automobile and electricity. We did our share of the above:
* With NO Federal Income Tax
* With NO Federal Reserve System
* With NO Social Security System
We were the envy of the world: Immigrants seeking a new life were welcomed!
Let's find the Hope; first let's find out the problem!
What happened to our wonderful economy?