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Friday, September 17, 2021

Mr. Biden’s Plan is really the “Green New Deal” in Disguise

#Biden #spending #debtor #bankrupt

All of Mr. Biden’s spending will put the US in the precarious position of being a debtor to the rest of the world. Why? Because it is a not possible that can pay for his wild programs by taxing the Top 1% of American individual and corporations” –Paul Ebeling

Mr. Biden is not a moderate, centrist Democrat.

The American people must rise up and say, “This is not the way we run our country. We pay our bills. We do not massively increase our debt. We do not put our financial system in jeopardy

Among is spending packages is the $1.9-T American Rescue Plan: It was called coronavirus aid/relief/stimulus, but just a fraction of it went to actual VirusCasedemic response.

The $2.3-T infrastructure plan is also being misrepresented as infrastructure, just $618-B is for infrastructure, it is really The Green New Deal.

And Hang on, the Democrats are planning another $2-T spending deal on Top of that, which will be announced in the next couple of wks. More Pork! This is now $6-T of spending that recommended by Mr. Biden.

America is waking up to the fact that Mr. Biden has moved to the left of Bernie Sanders and beyond anything the Mr. Hussein Obama ever proposed. His ideas if they happen will bring the US to the edge of bankruptcy to fight climate change and to massively increase the welfare state is very dangerous.

A revolt is already brewing even inside his party. And I believe the voters will halt his runaway spending train in Y 2022.

The Biden admin is making a mistake in loading up a $2.3-T infrastructure package with things that do not pertain to roads, bridges, airports, or technology, his is a purely partisan exercise and has no Republican support.

I trust that Americans know that our Federal Debt is totally out of control – now at $28.1 trillion and growing in uncontrollable leaps and bounds! For those of you that are unaware, it is projected to grow by 202% of our Gross National Product (GNP) by 2051 – WOW! Can future generations afford this – absolutely not!
So, what are the three key elements driving such debt? First,  our rapidly aging population. America is undergoing significant demographic change. 

“Our society is aging as the large baby-boom generation begins to retire — 10,000 will turn 65 every day through 2029. Moreover, people are expected to live longer, on average. That is great news, but it means that we must prepare for the financial needs of longer retirement. These huge demographic trends put increasing pressure on the federal budget — and in particular on vital programs that serve older and vulnerable Americans like Social Security, Medicare, and Medicaid. Adding to this is our recent Open Door Immigration Policy!

Second, in many ways, healthcare is the most important issue for our nation’s fiscal and economic future. It represents nearly one-fifth of our entire economy, and it’s the second fastest-growing part of the budget.
The U.S. healthcare system at $11,071 per person – compared to Switzerland’s $7,732 the next nation is 30+% less and even Germany’s $6,645 at the Number Three spot! Ours is the most expensive in the world, but we don’t really get what we pay for. We spend nearly three times as much on healthcare as other advanced nations, but our system does not provide better overall health outcomes. Improving the performance of the U.S. healthcare system will not only improve Americans’ lives, it will help stabilize our fiscal and economic outlook. However, where is the priority to focus on this at the Federal level – ZERO? 

“Third, our annual revenues ($3.42 Trillion) to annual expenditures ($6.55 Trillion) in 2020 but projected higher in 2021+.. It would be one thing if our tax code was designed to fund all the promises we’re making. But it’s not.The U.S. tax system does not generate enough revenues to cover the spending policymakers have enacted. This rapidly growing imbalance between revenues and spending leads to higher and higher annual deficits, and the result is an increasing national debt balance. And taxing the rich is not the solution either. How about more prudent Fiscal Management, a principle unknown to our Politicians, at least I can not find it?

So, the next time you go to vote, remember the above and ask yourself who is in reality focusing on the above for they are the ones, as a businessman, I want to see as our elected officials, not pork-barrel spenders, who think they are responsible only to themselves,” says LTN’s economist Bruce WD Barren.

Politicians use racism to ‘divide and conquer’ indicating that racism is not the real problem in America, the real problems are the 3 explained above by Mr. Barren.

Charles Barkley blames politicians for dividing Americans and exacerbating problems between White and Black people in the US.

NBA Great Charles Barkley said Saturday before the Final Four Game, “Man, I think most White people and Black people are great people,” Adding “‘Hey, let’s make these people like each other.”

America is for all Americans, The People do not want to live in racially divided bankrupt country!

Working to Make America Great Again!

Have a healthy week, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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