"The most significant threat to our national security is our debt," Admiral Michael Mullen, Chairman, Joint Chiefs of Staff, August 27,2010


Tuesday, January 4, 2011

111th congress. Good Riddance.

TheFundamentals is about personal and financial responsibility and fiscal soundness. This is our purpose; our mission. We address the promiscuous ways of anyone but mostly governments, bureaucrats, lawyers, unions, special interests and protected classes who violate these fundamentals. We focus on these elements because the unparalleled growth of their cost and influence on Americans, particularly Americans who seek to engage in various forms of commerce, has weakened a great country to the point of non competitiveness with vigorously growing competitors. The one thing that you can count on is that there will always be someone present to devour a weakened competitor.

No group in America is more responsible for this economic malaise that now burdens all aspects of personal and commercial activities than is the congress of the United States. The congress is given the primary responsibility for financial and fiscal matters; not the president.

As you know the debt of the United States has skyrocketed over the past fourteen years. During this period we have had 7 congresses. Each is displayed below with the beginning and ending debt level and the resulting debt growth during the tenure of that congress. Here are the facts:

                                        Total US Debt                Debt Increase
112th congress
Jan 3, 2013                          ???
Jan 3, 2011                     $13.871 Trillion                     ???

111th congress
Jan 3, 2011                     $13.871
Jan 3, 2009                     $10.636                         $ 3.235 Trillion

110th congress
Jan 3, 2009                     $10.636
Jan 3, 2007                     $  8.677                         $ 1.959

109th congress
Jan 3, 2007                     $  8.677
Jan 3, 2005                     $  7.591                         $ 1.086

108th congress
Jan 3, 2005                      $ 7.591
Jan 3, 2003                      $ 6.383                         $ 1.208

107th congress
Jan 3, 2003                      $ 6.383
Jan 3, 2001                      $ 5.723                         $   .660

106th congress
Jan 3, 2001                      $ 5.723
Jan 3, 1999                      $ 5.607                         $   .116

105th congress
Jan 3, 1999                      $ 5.607
Jan 3, 1997                      $ 5.306                         $   .301

Source: http://www.treasurydirect.gov/NP/BPDLogin?application=np

Never, in the history of the United States have so few, borrowed so much in such a short time to accomplish so little.

The 111th congress has spent a record amount of money – taken from taxpayers, borrowed on their credit against their will and, just printed with no accompanying commercial transaction which is the equivalent of stealing value from working taxpayers by diluting the value of the money they earn and save. While engaging in these despicable acts they have passed legislation consisting of thousands of unread pages of legal language and decrees and references that no one can explain or understand. And, while wasting the working taxpayers money and passing incomprehensible legislation, they have not done one thing; not taken one solitary step to make American business want to create wealth and jobs in this country. They have not cut back one bureaucracy or curtailed one protected class of all too ready litigators or stifled one group of special interests. They have not opened any labor markets to the free flow of employment; not stopped one unnecessary filing of one more specious law suit; not stopped the voracious gobbling of public funds by public employee unions or voted to bring either a balanced budget amendment to the states for approval or a term limits amendment to the states for approval. This record of abuse and self gratification, coupled with the promiscuity of Bernanke and the silly, inexperienced child play by the president, earn the 111th congress the designation of the worst congress in the history of America. We say, “Good riddance to the 111th congress.”

We have little hope for the 112th convening congress. The one question that needs to be answered is will it engage in promoting competitive commercial activities at the cost of its own political results? Will it grasp the simple concepts of frugality and sacrifice or will it continue the promiscuously piggish, self destructive behavior of its predecessor?

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