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<channel>
	<title>National Institute of Prevarication &#187; Economy</title>
	<atom:link href="http://prevarication.net/category/economy/feed/" rel="self" type="application/rss+xml" />
	<link>http://prevarication.net</link>
	<description>Dedicated to the exposure and preservation of prevarication in public life.</description>
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		<title>Wisconsin School Teacher Arrested for Death Threats</title>
		<link>http://prevarication.net/2011/03/wisconsin-school-teacher-arrested-for-death-threats/</link>
		<comments>http://prevarication.net/2011/03/wisconsin-school-teacher-arrested-for-death-threats/#comments</comments>
		<pubDate>Fri, 01 Apr 2011 03:40:45 +0000</pubDate>
		<dc:creator>James Simpson</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[War on Terror]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5861</guid>
		<description><![CDATA[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. According to the Milwauakee Journal Sentinel: Windels was charged with two felony counts &#8220;bomb scare&#8221; and two misdemeanor counts of &#8220;computer message-threatening injury/bodily harm.&#8221; If convicted, each felony count carries [...]]]></description>
			<content:encoded><![CDATA[<p><div id="attachment_5862" class="wp-caption alignright" style="width: 160px"><a href="http://prevarication.net/wp-content/uploads/2011/04/windels.jpg"><img class="size-thumbnail wp-image-5862" title="Teacher-Terrorist Katherine Windels" src="http://prevarication.net/wp-content/uploads/2011/04/windels-150x150.jpg" alt="Teacher-Terrorist Katherine Windels" width="150" height="150" /></a><p class="wp-caption-text">Teacher-Terrorist Katherine Windels</p></div><a href="http://prevarication.net/author/jsimpson/"><img class="alignleft size-full wp-image-1759" title="James Simpson" src="http://prevarication.net/wp-content/uploads/2009/11/jsimpson.png" alt="James Simpson" width="90" height="75" /></a><strong>JAMES SIMPSON: </strong>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.</p>
<p>According to the <a rel="nofollow" href="http://www.jsonline.com/blogs/news/119023079.html">Milwauakee Journal Sentinel</a>:</p>
<blockquote><p>Windels was charged with two felony counts &#8220;bomb scare&#8221; and two misdemeanor counts of &#8220;computer message-threatening injury/bodily harm.&#8221; 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.</p></blockquote>
<p>Her e-mails got a lot of play when they first appeared. They were particularly vicious. Here is the complete text of one:</p>
<blockquote><p>From: XXXX<br />
Sent: Wed 3/9/2011 9:18 PM<br />
To: Sen.Kapanke; Sen.Darling; Sen.Cowles; Sen.Ellis; Sen.Fitzgerald; Sen.Galloway; Sen.Grothman; Sen.Harsdorf; Sen.Hopper; Sen.Kedzie; Sen.Lasee; Sen.Lazich; Sen.Leibham; Sen.Moulton; Sen.Olsen<br />
Subject: Atten: Death threat!!!! Bomb!!!!</p>
<p>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.<br />
<strong><a title="Woman arrested for threatening emails sent to Wisconsin legislators" href="http://www.examiner.com/independent-in-washington-dc/woman-arrested-for-threatening-emails-sent-to-wisconsin-legislators">Read more&#8230;</a></strong>
</p></blockquote>
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		<title>What If the USA Was a Corporation?</title>
		<link>http://prevarication.net/2011/03/what-if-the-usa-was-a-corporation/</link>
		<comments>http://prevarication.net/2011/03/what-if-the-usa-was-a-corporation/#comments</comments>
		<pubDate>Tue, 01 Mar 2011 15:00:34 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Mary Meeker]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5778</guid>
		<description><![CDATA[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&#8217;t know how to read a balance sheet. We are presenting the information here as a warning to NIP readers. If you [...]]]></description>
			<content:encoded><![CDATA[<p>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&#8217;t know how to read a balance sheet. We are presenting the information here as a warning to NIP readers. If you read the <a title="USA Inc. A Basic Summary of America's Financial Statements" href="http://images.businessweek.com/mz/11/10/1110_mz_49meekerusainc.pdf">full report</a> you will understand the severity of the economic situation we are facing in the United States.</p>
<p><a title="Mary Meeker bio" href="http://www.kpcb.com/team/index.php?Mary%20Meeker">Mary Meeker</a>, partner at Kleiner Perkins Caufield &amp; 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 <strong>negative $44 trillion dollars</strong>. You need to download and study her entire analysis from <a title="USA, Inc. Basic Summary of America's Financial Statements" href="http://images.businessweek.com/mz/11/10/1110_mz_49meekerusainc.pdf">Business Week</a>. The graph below is taken from the report and shows revenue vs expenses. What the graph doesn&#8217;t show is the rapid growth of expenses and the comparatively minor growth of revenue.</p>
<p>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&#8217;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.</p>
<p><a href="http://prevarication.net/wp-content/uploads/2011/03/usa-income-statement.jpg"><img class="alignnone size-full wp-image-5791" title="USA Revenue vs Expenses" src="http://prevarication.net/wp-content/uploads/2011/03/usa-income-statement-650.png" alt="USA Revenue vs Expenses" width="637" height="480" /></a></p>
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		<title>House Budget Cuts Too Little Too Late</title>
		<link>http://prevarication.net/2011/02/house-budget-cuts-too-little-too-late/</link>
		<comments>http://prevarication.net/2011/02/house-budget-cuts-too-little-too-late/#comments</comments>
		<pubDate>Mon, 21 Feb 2011 15:32:29 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Boehner]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5688</guid>
		<description><![CDATA[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 &#8220;extreme.&#8221; Speaker [...]]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://prevarication.net/wp-content/uploads/2011/02/cuts.png"><img class="alignright size-medium wp-image-5690" title="&quot;Cuts&quot; vs Spending" src="http://prevarication.net/wp-content/uploads/2011/02/cuts-216x300.png" alt="&quot;Cuts&quot; vs Spending" width="216" height="300" /></a>WASHINGTON</strong>: Saturday saw the House pass a <a title="GOP freshmen force $61 billion in cuts" href="http://www.suntimes.com/news/nation/3913019-418/gop-freshmen-force-61-billion-in-cuts.html">$1.2 trillion</a> continuing resolution to fund the government through the rest of this year. The resolution contains cuts totaling <a title="Legislators hint at compromise on short-term spending extension" href="http://www.cnn.com/2011/POLITICS/02/20/congress.spending.cuts/">$61 billion</a>. 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 &#8220;<a title="GOP-led House approves battery of spending cuts" href="http://www.latimes.com/news/nationworld/nation/la-naw-gop-cuts-20110220,0,2007560.story">extreme</a>.&#8221; Speaker of the House John Boehner has threatened <a title="Is the Looming Government Shutdown a Precursor to Anarchy?" href="http://prevarication.net/2011/02/is-the-looming-government-shutdown-a-precursor-to-anarchy/">a shutdown of the federal government</a> if the resolution is not passed. Obama and the democrats have <a title="Obama vows fight on Republican threat of government shutdown" href="http://www.allvoices.com/contributed-news/8236052-obama-vows-fight-on-republican-threat-of-government-shutdown">vowed a fight</a> on Boehner&#8217;s threat to shut down the government.</p>
<p>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 <a title="Budget Deficit Visualized" href="http://prevarication.net/2011/02/budget-deficit-visualized/">$516 billion to finance the $1.2 trillion</a> and our politicians are arguing about defunding NPR and Planned Parenthood? What is needed is a much larger cut, say $516 billion.</p>
<p>Let&#8217;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 <a title="Moody's threatens US credit downgrade." href="http://prevarication.net/?s=moody%27s">downgrade your credit (think Moody&#8217;s)</a>. 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 &#8220;only&#8221; $49,000.  That&#8217;s the kind of &#8220;extreme&#8221; fiscal discipline the Republicans are suggesting.</p>
<p>BTW- <strong>your</strong> share of the Federal debt? $45,000 and climbing. (See the live counter to the right.) You <strong>will</strong> need to pay it back. Why aren&#8217;t you angry?</p>
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		<title>Debt Alone May Lead to US Collapse Within 5 Years</title>
		<link>http://prevarication.net/2011/02/debt-alone-may-lead-to-us-collapse-within-5-years/</link>
		<comments>http://prevarication.net/2011/02/debt-alone-may-lead-to-us-collapse-within-5-years/#comments</comments>
		<pubDate>Tue, 15 Feb 2011 14:55:54 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[National Debt]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5634</guid>
		<description><![CDATA[WASHINGTON: Obama released his budget yesterday as a Valentine&#8217;s Day present to the US. His $3.7 trillion budget includes a deficit of $1.1 trillion. Obama&#8217;s proposal includes &#8220;tough choices and sacrifices,&#8221; which he asserts will bring about a reduction of the budget deficit in years to come. Such nonsense is all too readily trumpeted by [...]]]></description>
			<content:encoded><![CDATA[<p><strong>WASHINGTON</strong>: Obama released his budget yesterday as a Valentine&#8217;s Day present to the US. His $3.7 trillion budget includes a <a title="Obama budget: Some cuts, not the slashes GOP asks" href="http://news.yahoo.com/s/ap/20110214/ap_on_re_us/us_obama_budget">deficit of $1.1 trillion</a>. Obama&#8217;s proposal includes &#8220;tough choices and sacrifices,&#8221; 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.</p>
<p>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&#8217;s budget will increase our national debt by at least $1.1 trillion.</p>
<p>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:</p>
<blockquote><p>Throughout history the rise and fall of empires isn&#8217;t slow or cyclical, as we like to think, but arrhythmic&#8230;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.</p></blockquote>
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		<title>Budget Deficit Visualized</title>
		<link>http://prevarication.net/2011/02/budget-deficit-visualized/</link>
		<comments>http://prevarication.net/2011/02/budget-deficit-visualized/#comments</comments>
		<pubDate>Thu, 10 Feb 2011 17:27:10 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[National Debt]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5601</guid>
		<description><![CDATA[This video shows clearly the mountain of trouble this administration is getting us into. Folks can&#8217;t visualize large numbers, so it is easy for politicians to pull the wool over our eyes.]]></description>
			<content:encoded><![CDATA[<p>This video shows clearly the mountain of trouble this administration is getting us into. Folks can&#8217;t visualize large numbers, so it is easy for politicians to pull the wool over our eyes.</p>
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		<title>Moody&#8217;s Warns for Fourth Time: US Credit at Risk</title>
		<link>http://prevarication.net/2011/01/moodys-warns-for-fourth-time-us-credit-at-risk/</link>
		<comments>http://prevarication.net/2011/01/moodys-warns-for-fourth-time-us-credit-at-risk/#comments</comments>
		<pubDate>Fri, 28 Jan 2011 16:51:12 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[National Debt]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5577</guid>
		<description><![CDATA[WASHINGTON: Today Moody&#8217;s warned the US of an impending credit downgrade due to the country&#8217;s worsening debt situation. Moody&#8217;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&#8217;s top AAA credit rating. The Moody&#8217;s report, which came hours after a downgrade [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_5113" class="wp-caption alignright" style="width: 160px"><a href="http://prevarication.net/wp-content/uploads/2010/06/alfred_e_neuman.jpg"><img class="size-thumbnail wp-image-5113 " title="Alfred E. Neuman" src="http://prevarication.net/wp-content/uploads/2010/06/alfred_e_neuman-150x150.jpg" alt="Alfred E. Neuman, &quot;What, Me Worry?&quot;" width="150" height="150" /></a><p class="wp-caption-text">What, Me Worry?</p></div>
<p><strong>WASHINGTON</strong>: Today Moody&#8217;s warned the US of an impending credit downgrade due to the country&#8217;s worsening debt situation.</p>
<blockquote><p>Moody&#8217;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&#8217;s top AAA credit rating.</p>
<p>The Moody&#8217;s report, which came hours after a downgrade of Japan by Standard &amp; Poor&#8217;s and an IMF warning on growing budget deficits in both countries, reiterated previous comments made by the agency late last year.</p>
<p>Moody&#8217;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.</p>
<p>Lower debt ratings typically push up a country&#8217;s borrowing costs. A negative outlook makes a rating downgrade more likely in the next 12 to 18 months. <a href="http://www.moneynews.com/StreetTalk/MoodysWarnsUSCreditRatingRisksAreRising/2011/01/28/id/384209#ixzz1DTuY9f5q">MoneyNews.com</a></p></blockquote>
<p>The NIP has <a href="http://prevarication.net/2010/03/3rd-warning-from-moodys-harbinger-of-disaster/">written multiple times</a> regarding previous warnings from Moody’s. The US Ignoring Moody&#8217;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.</p>
<p>We are seeing the result already. During Chinese President Hu Jintao&#8217;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?</p>
<p>This is just the beginning of the pain that awaits as our Congress and President blithely spend us into oblivion.</p>
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		<title>US National Debt Passes $14 Trillion</title>
		<link>http://prevarication.net/2011/01/us-national-debt-passes-14-trillion/</link>
		<comments>http://prevarication.net/2011/01/us-national-debt-passes-14-trillion/#comments</comments>
		<pubDate>Mon, 03 Jan 2011 16:41:45 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[National Debt]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5569</guid>
		<description><![CDATA[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 [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://prevarication.net/wp-content/uploads/2011/02/natioanal_debt.jpg"><img class="alignright size-full wp-image-5567" title="National Debt Passes $14 trillion" src="http://prevarication.net/wp-content/uploads/2011/02/natioanal_debt.jpg" alt="National Debt Passes $14 trillion" width="620" height="277" /></a>The latest posting today of the National Debt shows it has topped $14 trillion for the first time.</p>
<p>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.</p>
<p>It took just 7 months for the National Debt <a href="http://prevarication.net/2010/06/congress-ignores-national-debt-crisis-increases-by-8/">to increase from $13 trillion on June 1, 2010</a> 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.</p>
<p>The NIP has <a href="http://prevarication.net/2010/03/3rd-warning-from-moodys-harbinger-of-disaster/">written multiple times</a> regarding previous warnings from Moody&#8217;s. It appears that this administration is all to happy to push our economy into economic collapse. If you think this doesn&#8217;t matter to you, you are sorely mistaken.</p>
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		<title>French Protest Raising Retirement Age to 62</title>
		<link>http://prevarication.net/2010/10/french-protest-raising-retirement-age-to-62/</link>
		<comments>http://prevarication.net/2010/10/french-protest-raising-retirement-age-to-62/#comments</comments>
		<pubDate>Wed, 13 Oct 2010 00:38:32 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[French Retirement]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5315</guid>
		<description><![CDATA[FRANCE: Today over one million French took to the streets protesting the government&#8217;s plans to raise the retirement age from 60 to 62. Tens of thousands Parisians protested the &#8220;cruelty&#8221; of making 60 year-olds work two more years before retirement. The Associated Press reports that the majority of French are against government attempts to reform [...]]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://prevarication.net/wp-content/uploads/2010/10/french-protests.png"><img class="alignright size-medium wp-image-5316" title="French Protest Raising of Retirement Age" src="http://prevarication.net/wp-content/uploads/2010/10/french-protests-300x200.png" alt="French Protest Raising of Retirement Age" width="300" height="200" /></a>FRANCE</strong>: Today over one million French took to the streets protesting the government&#8217;s plans to raise the retirement age from 60 to 62. Tens of thousands Parisians protested the &#8220;cruelty&#8221; of making 60 year-olds work two more years before retirement. The Associated Press reports that <a title="French Against Reforms" href="http://www.voanews.com/english/news/europe/French-Unions-on-Nationwide-Strike-Travel-Disrupted-104776029.html">the majority of French are against </a>government attempts to reform their retirement system.</p>
<p>After years of socialist giveaways European countries are struggling with the impossible task of paying for programs they cannot afford. Politicians there for years have promised outlandish benefits with no way to pay for them in an effort to be reelected. Faced with impossible costs the French are trying to make adjustments to keep their country solvent. The resultant protests only help destabilize a volatile situation.</p>
<p>This is the model that Obama and Congressional Democrats have been following for years: promise the moon, get reelected, and leave it to future generations to pay for. It isn&#8217;t working in France, and voters are rejecting it here in the US. Meanwhile Pelosi and Obama are still singing the same socialist song. It&#8217;s time to teach them a new tune.</p>
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		<title>Steve Wynn of Wynn Hotels Raises Warning Voice</title>
		<link>http://prevarication.net/2010/06/steve-wynn-of-wynn-hotels-raises-warning-voice/</link>
		<comments>http://prevarication.net/2010/06/steve-wynn-of-wynn-hotels-raises-warning-voice/#comments</comments>
		<pubDate>Sun, 27 Jun 2010 10:25:03 +0000</pubDate>
		<dc:creator>James Simpson</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Steve Wynn]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5209</guid>
		<description><![CDATA[JAMES SIMPSON: This is better than Rick Santelli&#8217;s rant. Here is a successful businessman giving us the reality of the situation. In an interview with CNBC, Steve Wynn, owner of Wynn hotels, describes this administration and Congress&#8217;s policies as an explanation for his decision to move some of his operation overseas. As he says repeatedly, it [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://prevarication.net/author/jsimpson/"><img class="alignleft size-full wp-image-1759" title="James Simpson" src="http://prevarication.net/wp-content/uploads/2009/11/jsimpson.png" alt="James Simpson" width="90" height="75" /></a><strong>JAMES SIMPSON: </strong>This is better than <a title="Rick Santelli's Chicago Tea Party" href="http://www.youtube.com/watch?v=zp-Jw-5Kx8k" target="_blank">Rick Santelli&#8217;s rant</a>. Here is a successful businessman giving us the reality of the situation. In an interview with CNBC, Steve Wynn, owner of Wynn hotels, describes this administration and Congress&#8217;s policies as an explanation for his decision to move some of his operation overseas. As he says repeatedly, it is a combination of the insane spending and regulatory policies of the Democrats and the complete uncertainty this creates for business.</p>
<p>As I have said, <em>repeatedly</em>, this is a deliberate strategy. Nothing discourages business more than uncertainty, and the Obama administration has introduced a climate of uncertainty in this country that is unprecedented in our history. Even during war, no American ever seriously believed anyone would come along and attempt to change the fundamental structure of our society. But it is happening now before our eyes!</p>
<p>The corruption of this administration, the fraud occupying the White House and the revolting, despicable animals running Congress, defy description. They are corrupt, subhuman slugs. Watch this four minute clip. Right on the money!</p>
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		<title>Congress Ignores National Debt Crisis, Increases by 8%</title>
		<link>http://prevarication.net/2010/06/congress-ignores-national-debt-crisis-increases-by-8/</link>
		<comments>http://prevarication.net/2010/06/congress-ignores-national-debt-crisis-increases-by-8/#comments</comments>
		<pubDate>Thu, 17 Jun 2010 10:59:57 +0000</pubDate>
		<dc:creator>Karl Munchausen</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[National Debt]]></category>

		<guid isPermaLink="false">http://prevarication.net/?p=5112</guid>
		<description><![CDATA[WASHINGTON: The Treasury Department stated that the US Debt reached $13 trillion for the first time in history on June 1st. Just six months ago the debt topped $12 trillion for the first time. The increase in just 6 months was 8%. At this rate our debt will reach $14 trillion by the end of [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_5113" class="wp-caption alignleft" style="width: 160px"><a href="http://prevarication.net/wp-content/uploads/2010/06/alfred_e_neuman.jpg"><img class="size-thumbnail wp-image-5113" title="Alfred E. Neuman" src="http://prevarication.net/wp-content/uploads/2010/06/alfred_e_neuman-150x150.jpg" alt="Alfred E. Neuman, &quot;What, Me Worry?&quot;" width="150" height="150" /></a><p class="wp-caption-text">What, Me Worry?</p></div>
<p><strong>WASHINGTON</strong>: The Treasury Department stated that the US Debt reached <a title="US debt tops 13 trillion dollars for first time" href="http://economictimes.indiatimes.com/news/international-business/US-debt-tops-13-trillion-dollars-for-first-time/articleshow/6006496.cms" target="_blank">$13 trillion</a> for the first time in history on June 1st. Just six months ago the debt topped $12 trillion for the first time. The increase in just 6 months was 8%.</p>
<p>At this rate our debt will reach $14 trillion by the end of the year, increasing the national debt by 16% in one year. The <a title="Economy of the United States" href="http://en.wikipedia.org/wiki/US_GDP" target="_blank">US GDP</a> was only $14 trillion in 2009, our debt soon will exceed the entire economy of this once great nation and the rate of increase is accelerating.</p>
<p>You or I could never dig ourselves out of this kind of debt, only the government can, and they will do it by inflating the currency. B<a title="US National Debt Tops $12 Trillion" href="http://prevarication.net/2009/11/us-national-debt-tops-12-trillion/">ack in November</a> the NIP has warned about the dire consequences that await us if we pursue this course. This should give concern to every American. Our elected representatives need to be sent packing. Faced with our massive deficit, this Congress apparently subscribes to the <a title="Alfred E Neuman" href="http://en.wikipedia.org/wiki/Alfred_E._Neuman" target="_blank">Alfred E. Neuman</a> school of philosophy, &#8220;What, Me Worry?&#8221; At the NIP we too are beginning to see Mr. Neuman as a viable candidate. His campaign slogan of 1956 still rings true today, &#8220;You could do worse&#8230; and you always have!&#8221;</p>
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