JAMES SIMPSON: 26 year-old Katherine R. Windels has been arrested for sending emails containing death threats to Wisconsin state senators during the budget battles last month.
Windels was charged with two felony counts “bomb scare” and two misdemeanor counts of “computer message-threatening injury/bodily harm.” If convicted, each felony count carries a maximum penalty of three years and six months in prison and a $10,000 fine, and each misdemeanor count carries a maximum penalty of 90 days in prison and a $1,000 fine.
Her e-mails got a lot of play when they first appeared. They were particularly vicious. Here is the complete text of one:
Please put your things in order because you will be killed and your familes will also be killed due to your actions in the last 8 weeks. Please explain to them that this is because if we get rid of you and your families then it will save the rights of 300,000 people and also be able to close the deficit that you have created. I hope you have a good time in hell. Read below for more information on possible scenarios in which you will die. Read more…
Here is the problem the US faces in a nutshell. This will make no sense to those members of Congress and the President who have never run a business, never studied accounting, and don’t know how to read a balance sheet. We are presenting the information here as a warning to NIP readers. If you read the full report you will understand the severity of the economic situation we are facing in the United States.
Mary Meeker, partner at Kleiner Perkins Caufield & Byers served as a managing director and research analyst ad Morgan Stanley from 1991 to 2010. She states that the net worth of the US is a negative $44 trillion dollars. You need to download and study her entire analysis from Business Week. The graph below is taken from the report and shows revenue vs expenses. What the graph doesn’t show is the rapid growth of expenses and the comparatively minor growth of revenue.
The politicians and socialist media have control of what Americans read, view, and think. Their ignorance of finance and their predilection for social justice have driven this country into bankruptcy. It is the NIP’s position that the destruction of freedom and our way of life is the goal of the left. Like the British and Roman empires, our republic may soon become one more footnote of history. Beware the ides of March.
WASHINGTON: Saturday saw the House pass a $1.2 trillion continuing resolution to fund the government through the rest of this year. The resolution contains cuts totaling $61 billion. Cuts target NPR, Planned Parenthood, border security, education and other federal programs. Senate Majority Leader Harry Reid and other senate democrats have called the measure “extreme.” Speaker of the House John Boehner has threatened a shutdown of the federal government if the resolution is not passed. Obama and the democrats have vowed a fight on Boehner’s threat to shut down the government.
With all the posturing on both sides it is easy to not see the forest for the trees. $61 billion is only 5% of $1.2 trillion dollars. The US will have to borrow $516 billion to finance the $1.2 trillion and our politicians are arguing about defunding NPR and Planned Parenthood? What is needed is a much larger cut, say $516 billion.
Let’s look at it this way. Your household has a credit card limit of $25,000 and you are over the limit by $10,000, owing a total of $35,000. Your bank calls you to reign in spending and threatens to report you to the credit agency and downgrade your credit (think Moody’s). You tell the bank how serious you are about cutting back, and you tell your banker that you were thinking about adding another $20,000 to your debt this year but are going on an austerity spending program and are only going to spend another $19,000, that will hold your debt to “only” $49,000. That’s the kind of “extreme” fiscal discipline the Republicans are suggesting.
BTW- your share of the Federal debt? $45,000 and climbing. (See the live counter to the right.) You will need to pay it back. Why aren’t you angry?
WASHINGTON: Obama released his budget yesterday as a Valentine’s Day present to the US. His $3.7 trillion budget includes a deficit of $1.1 trillion. Obama’s proposal includes “tough choices and sacrifices,” which he asserts will bring about a reduction of the budget deficit in years to come. Such nonsense is all too readily trumpeted by the news media and too easily swallowed by the American public.
The reality is quite different. Budgets decisions are made from year to year, and no Congress or President today can dictate the actions of a Congress or President in the future. The only thing we can count on is that this year’s budget will increase our national debt by at least $1.1 trillion.
Such reckless spending may be in itself the precursor to the economic collapse of the US, according to Niall Ferguson, the Laurence A. Tisch Professor of History at Harvard University, resident faculty member of the Minda de Gunzburg Center for European Studies, Senior Research Fellow of Jesus College, Oxford University, and Senior Fellow of the Hoover Institution, Stanford University:
Throughout history the rise and fall of empires isn’t slow or cyclical, as we like to think, but arrhythmic…it mostly happens very, very suddenly. America is a superpower on the edge of chaos. U.S. debt levels and its unwillingness to address the problem, has put it in the same category as other great empires which have collapsed throughout the ages.
This video shows clearly the mountain of trouble this administration is getting us into. Folks can’t visualize large numbers, so it is easy for politicians to pull the wool over our eyes.
WASHINGTON: Today Moody’s warned the US of an impending credit downgrade due to the country’s worsening debt situation.
Moody’s Investors Service warned that lack of U.S. government action on the budget deficit increases the likelihood of a negative outlook on the country’s top AAA credit rating.
The Moody’s report, which came hours after a downgrade of Japan by Standard & Poor’s and an IMF warning on growing budget deficits in both countries, reiterated previous comments made by the agency late last year.
Moody’s had said in December that the extension of Bush-era tax cuts would add to the likelihood of a negative outlook on the U.S. rating in the next two years.
Lower debt ratings typically push up a country’s borrowing costs. A negative outlook makes a rating downgrade more likely in the next 12 to 18 months. MoneyNews.com
The NIP has written multiple times regarding previous warnings from Moody’s. The US Ignoring Moody’s is similar to a homeowner ignoring calls from their mortgage banker. Eventually credit ratings our downgraded, interest rates go up and penalties are instituted.
We are seeing the result already. During Chinese President Hu Jintao’s visit to the US Obama hosted an unprecedented state dinner for the president of a country that has one of the worst human rights abuse record. How long until the Chinese demand higher interest rates to cover our increasingly worthless dollar?
This is just the beginning of the pain that awaits as our Congress and President blithely spend us into oblivion.
The latest posting today of the National Debt shows it has topped $14 trillion for the first time.
The U.S. Treasury website today reported that as of last Friday, the last day of 2010, the National Debt stood at $14,025,215,218,708.52.
It took just 7 months for the National Debt to increase from $13 trillion on June 1, 2010 to $14 trillion on Dec. 31. It also means the debt is fast approaching the statutory ceiling $14.294 trillion set by Congress and signed into law by President Obama last February.
The NIP has written multiple times regarding previous warnings from Moody’s. It appears that this administration is all to happy to push our economy into economic collapse. If you think this doesn’t matter to you, you are sorely mistaken.
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JAMES SIMPSON: 26 year-old Katherine R. Windels has been arrested for sending emails containing death threats to Wisconsin state senators during the budget battles last month.
