Think of it as sitting down in a restaurant and the wait
person stops by to take your drink order and tell you what the special(s) of
the day are – could be a favorite of the owner/chef; could be something they
got a good buy on; could be something left over from yesterday and they want to
move it; could be something that a favorite customer who is coming in today
always wants available.
More than likely us regular restaurant patrons didn’t have a
lot of input in determining the specials on this day.The agenda; the menu, was decided by others
and we really don’t know how or why.
When it comes to politics and media attention a similar
process is at play.There is an agenda
and it is determined for reasons determinable and not so readily determinable.
Today the agenda item is gun control. Or "are the Brits ready for a sporting event?"
Last week it was Obama’s comments on who is responsible for
business success – the business person or the government that build the roads.
Before that it was Romney’s overseas investments/banking accounts/job
outsourcing and tax records/payments.
You get the idea.Someone
is deciding what goes on the menu and it changes every week or so.Next week it may be Syria/middle east/Iran/Israel
or it could be Europe and their impending implosion; recession; depression.
Could be the value of the Chinese currency or the LIBOR interest
rate (no, that was last month wasn’t it?)
What won’t it be?
Debt – Deficits – Destruction.
What else won’t it be?
Military industrial complex.Wars.CIA spending.Drones in the homeland skies.NSA eavesdropping, in the homeland skies.Troops in Korea, Japan, Europe.
Speaking of drones – what has killed more innocents – American
drones or nut jobs in theatres?Also,
speaking of drones, we were wondering about the inevitable but, of course,
accidental meeting of a drone and a commercial airliner in our skies.Will that be mass murder or just homeland
security collateral damage? Do you get the impression that we are now making up things just to keep the bureaucrat PR machine busy? Don’t worry, that’s not on the agenda either.
What else won’t be on the agenda?
Bubbles in government spending/health care/education.Bernanke’s odyssey.Print money to keep the bubbles going.
Debt ceiling.Debt repayment.Debt anything.No one wants to touch debt. Debt is off the menu; just like foie gras in California.
The topic du jour is going to be anything but what the topic
du jour should be.One group of
politicians won’t touch it because they want to keep it (DEBT) going.The other group won’t touch it (DEBT) because they
are afraid to not keep it going.
So why not talk about guns and soda drinks; small private companies
and their investment policies; statues of false gods and candidate tax records?Aren’t you more interested in LIBOR and Dodd
– Frank than stopping the spending and the $4 billion of debt added each day
while we wring our hands over a Pennsylvania pervert?
Hey, maybe next week we can talk about melting icebergs?Sure hope they put that on the menu. May have to wait another week or so because the chicken restaurant guy exercising his freedom of speech is now the topic du jour.
Every day, in America, great lessons are on display.Please allow us few minutes to explain.
Focused on Happy Valley, Pennsylvania, we Americans are
watching the demise of a national icon.Just
a few years ago, Mr. Paterno was glorified as some form of demi – god for that
combination of his age, endurance, leadership and accomplishments. He was a football coach.Many times he was either so incapacitated
or injured that he could not even make it to the field.His empire paid daily homage to him.He earned much more than the president of the
university and multiples of what was being earned by the lowly teaching
assistants who conducted many of the learning classes at his university.Reporters had to sue to even find out how
much he was being paid. Do you think
Penn State and the JoePa regime were anomalies?
Do you not think the JoePa regime bears similarities to other regimes in major college towns across the country today?
Over 20 years ago, the Knight commission on intercollegiate
athletics started an investigative process that focused on the many documented
derelictions in college athletic programs.Here, taken directly from their own reports, are observations about the
state of college athletics in America:
1989, as a decade of highly visible scandals in college sports drew to a
close, the trustees of the John S. and James L. Knight Foundation (then
known as Knight Foundation) were concerned that athletics abuses
threatened the very integrity of higher education.
for the Ivy League, the schools which were involved were the most visible
institutions of higher education in the country.
colleges and universities continue their traditional posture of upholding the
highest values of personal character and integrity when they themselves display
so little of either?
faith in higher education cannot be sustained if college sports are
permitted to become a circus, with the institution itself little more than
a supporting sideshow.
Arrogance in the athletic department of large public higher
education establishments is rampant; fawning (actually terrified) sycophants
both within and without the state payrolls of these schools stand around
waiting for some false god or some athletic department head to rule on some kid
or coach who has violated someone or something. And it all revolves around money; and winning
and power and excess.There are no term
limits; no mandatory rotation of duties and responsibilities.Money runs the show – coaches are paid as if
they were Hollywood entertainers.Come to
think of it, that about describes the way the way they act and the way they are
The Knight commission issued reports in 1991, 1992 and 1993.Again, every report, every finding, every
recommendation is available at:http://www.knightcommission.org/They issued a ten year status report in 2001
and we are offering below just one summary observation from that report –
“We find that the problems of big-time college
sports have grown rather than diminished. The most glaring elements of the
problems outlined in this report – academic transgressions, a financial arms race,
and commercialization – are all evidence of the widening chasm between higher
education’s ideals and big-time college sports.”
Their most recent report came out in 2010.Here is part of their summary recommendations:
This report sets forth reforms that are achievable and that, if implemented, will create a foundation upon which future reforms can build. Our blueprint for restoring educational values and priorities begins with strengthening accountability for intercollegiate athletics in three ways:
1. Requiring greater transparency, including better measures to compare athletics spending to academic spending
2. Rewarding practices that make academic values a priority
3. Treating college athletes as students firs and foremost - not as professionals
Where have you heard some of these words before - transparency; better measures; values a priority? Does anyone besides us see any connection; any analogy
between the power and corruption in college athletes and the power and corruption
in American governance?Does anyone see
this cult of the personality rampant; the money more important than any values;
a justification process that always points to the protection of the insider;
thelax enforcement of violations and
other forms of trespasses?Are we the
only ones that see a direct tie-in between America being just about money; not
limits; not discipline; not values and, if so, how on earth can we complain about
colleges – athletic programs, coaches and athletes when the top elected jobs in
the country are operating on similar distorted values?
One of the most disappointing aspects of the Penn State mess
is the rapidity with which sycophants who two or three brief years ago were
fawning over JoePa, may he rest in peace, are now removing his statue (what kind of fool
builds statues to football coaches at a public institution of higher learning?)
and shutting down the football team (what the heck did the current football
players do?) and fining the fat cats some chump change for their transgressions (did anyone consider banning the fat cats entirely?)
It is not just JoePa who is to blame even though he got
caught up in the nonsense and the power and the money and its all encompassing corruption.He was just a coach; just a man; same feet of
clay the rest of us have.Even JoePa
needed someone to set some limits and discipline on him.We failed him by not doing so.
If you want to change things start at the top. In the federal capitol and the state capitols - Term limits; spending limits; debt limits;
repay the debt and stop this madness that creates a mythology of men, money and their
plans overwhelming common sense and values.
Additional tax revenues on
2013 compared with 2012 are $400 billion, mostly coming from tax
provisions expiring 12/31/2012 and about $100 billion from reimposing the
full payroll tax which was temporarily abated, and
Spending cuts are about
$100 billion out of a federal spending budget of around $3.5
trillion.So the spending cuts
approximate a reduction rate of a 3%.Holy smokes, let’s not get too carried away here.
A variety of other changes
that add up to about $60 billion
Total - $560 billion
That’s the FC as defined by those who now define things.At TheFundamentals we call “fiscal restraints”
what they are – living within one’s means.It is all the things that everyone said we needed to do anywhere from
one to three years ago but that we would temporarily postpone because the
economy was crappy.We agreed to defer
these things so that we could have huge deficits and borrowings to fix things
but we all agreed to get back on track beginning 1/1/2013 (giggle - giggle.)
So, it’s no cliff, it’s just following through with what we
agreed to do. The only problem with this FC is that it has the order of priorities reversed - it should be mostly spending cuts and the reinstatement of the payroll tax and more taxes on loudmouths like Buffett and the Hollywood set. But let's get to the heart of the matter - the chicken littles are saying the FC will cause a recession. Will it?
Will these so-called restraints cause a recession or any one
of the other terrible consequences coming from the mouths of our glorious
leaders?Of course not.We are in a recession.GDP, notwithstanding the lies from elected
and hired politicians and bureaucrats, is not up.It’s down.The only thing propping it up is deficits financed by our national bank
– aka “the fed.”Well, it is also being
propped up by the ongoing diminution of the savings of America’s middle class.When you look at your bank statement or your
investment statement, hoping that it has not declined (think about that – you no
longer seek growth or positive increases, you just don’t want it to go down
more than you can bear to observe at any one time and this is what our
president calls progress) you are experiencing first hand your contribution to
our declining economic situation.
If we adjust GDP for the devaluation of the dollar and the
deficits and borrowings, known and estimates of the unknown portion, and the
decline in your savings and investment accounts, we are in a recession – big time.
And darn it all, all those stimulus things and fancy big
spending programs and wars and extended unemployment benefits and huge federal
government payrolls with all their benefits and pensions and other goodies
(think of all those valuable public servants flying all over, first class, if
they are middle managers – private jets if they are higher ups (no pun
intended) are not keeping us on a growth spree.
right.Why could that be?Obama, Krugman, Geithner (whatever happened
to him?), Bernanke, Nancy, Harry even Barney (ditto?) said just do what we say and
things will get better.
Shucks and golly gosh.T’aint working.What to do next?
Here is our take - a body, falling off a high cliff can
attain a maximum drop speed of about 122 mph.Physicists call that “terminal velocity (TV).Don’t confuse this TV with the one many Obama
voter’s space out on for 8 – 10 hours per day.Now, a body falling off a high cliff will reach about 50% of TV in 3
seconds.We can safely suggest that the American
economy has reached 50% of TV.In the
next 5 seconds it will attain 90% of TV.And in the next 7 seconds, 15 seconds in total, it will be at 99% of TV.
We, at TheFundamentals, estimate that the acceleration goose
coming from the Hollywood media’s so-called FC will not materially change
anything in terms of our collective TV attainment.We have one hope, well, really two –
1.Spiderman can swoop down and grab us from that
point where TV and TF (terra firma) meet --
2.Or, Superman can do the same --
All Hollywood has to do it make it come true.The actors are in place.The script has been written – we all heard it
four years ago.And now we are hearing
it again.Let’s just call it Hope and
Audacity, the Sequel.
Can’t wait to see this one. But we do wonder, "Who will they blame in the trilogy?"
On February 29, 2012, TheFundamentals published an essay
entitled “What about the debt Mr. president?”
At that date, the debt of the country was $15.4 trillion
compared with $10.6 trillion on the date Mr. Obama took office and swore to
uphold and defend the constitution of the United States.
We never hear Mr. Obama talk about debt.His prioritization of things suggests that debt
is not a concern.His past in Chicago
and Illinois suggest that debt was never much of a concern.He seems
to think outsourcing and his opponents tax returns are a concern.We think, as elected leader of the country,
this debt issue should be the appropriate focal point of his reelection
campaign.We think his opponent needs to
make a very big deal out of debt and the need to stop adding to it.
We have promised our readership to draw attention to the
Today, the debt is $15.9 trillion.It has risen $500 billion since we published
our post in late February.It has now
risen over $5 trillion dollars in less than four years, since Obama pledged to
uphold the constitution.It is rising,
daily, by $4 billion dollars.
Yet we cannot find or cannot recall any Obama reference to
the $5 trillion added to debt on his watch.We can find no reference to a plan to repay the debt; much less stop
adding to it.We can find no projection
of what the debt will be at the end of his second term if reelected.
And yet all his minions, the top military guy, the head of
the fed who is actually buying up the debt and his rapidly growing number of
departing key bureaucrats say – the debt is unsustainable.
From Mr. Obama – “No comment.” No plans.No projections.Nothing.
There is no good word in the English language to describe Mr.
Obama’s dereliction of duty.None. The
deliberate and calculated destruction of a nation’s currency is a crime of
incalculable import to all its citizens.Even those who are currently benefitting from the crime will ultimately
be destroyed because their children and grandchildren will incur the impact.If we were to ask Bernanke or Obama or any of
the so-called “leaders” who are responsible for this dereliclion of duty how
much debt they personally plan to leave to their children and grandchildren to
repay – we think they would say none.Which gives you, the reader, all you need to know about the value these
people place on personal and fiscal responsibility and oaths.
We will provide one more “debt” update right before the
November 6th election.Please
demand that the candidates address this issue.
you were successful, somebody along the line gave you some help. There was a
great teacher somewhere in your life. Somebody helped to create this
unbelievable American system that we have that allowed you to thrive. Somebody
invested in roads and bridges. If you’ve got a business -- you didn’t build
that. Somebody else made that happen.”BObama, July 13, 2012
think you are on a roll, it is amazing how you loosen the tongue and the real
sentiments come out.We need to replay
the tapes of Obama taking credit for the killing of Osama.Heck, we need to play the tapes of his
blaming Bush II for all the woes of the country.if what we do when we accomplish something is
always a communal activity then it only follows that things like wars and housing
bubbles and wall street excesses, heck even the failures of FHLMC (did you know
that an Obama stooge by the name of Rahm Emanuel was on the board of
this outfit before it went bankrupt? Man, these guys have short memories) and FNMA and Solyndra must all be
community organizing type failures too?
you can explain away this recent political nonsense as “political nonsense.”Why not?The press doesn’t much care what he says, or how he says it or even what
it means or even does it mean anything.Why
should they?They gave him a pass four
years ago; three years ago; two years ago and they are doing the same this
expect the tone or the publicity to change.Every democrat attack on Romney will be examined and amplified, by the Hollywood
media, and every Romney attack on Obama will be used as brief counter fodder
and given I minute of coverage to 59 minutes of Obama attacks.
America now.This is how carefully the Hollywood
media care about the direction and leadership of the country.
quote above – in case you never had or desired the opportunity to attend an
eastern college, or, for that matter, most any college, the statement in quotes
above is now the accepted truth.We don’t
teach young people about Thomas Edison or Henry Ford or the Wright Brothers or Jonas
Salk (see TheFundamentals March 3, 2011 http://thefundamentalsus.blogspot.com/2011/03/leadership-series-public-servant.html
.)We would get a kick out of the
response of Henry Ford to Obama’s idiotic comment about someone building the
roads.Mr. Obama, the roads did not come
first. Sorry to so inform you.It was
not the roads that built the automobile.Other way around.What worthwhile
lessons does Harvard teach?
first started writing TheFundamentals we frequently addressed basic economics –
things such as wealth creation and market discipline, supply and demand and
pricing theory.Why?Because no one teaches it anymore.How could Obama possibly know that what he
said is wrong?Did his mommy or daddy
teach him?Harvard?His employer?He has never worked in a competitive business; never attended a school
that support the concept of market discipline and doesn’t even ponder the
possibility of the need to limit government if you seek competitive businesses
that succeed.His attacks on Romney and
his business career are daily illustrations of his training; his education and
his distorted knowledge base.And he is
now preaching this catechism of his church to a group of people who desperately
want to hear a distorted message.No wonder
the world looks at America, shakes their heads and whispers to each other, “What
as elsewhere, government is responsible for two of the most vital and important
responsibilities any government can rightfully lay claim to:
1.The safety of the law abiding citizen, and
2.The education of the children (well, not politicians children)
politicians and bureaucrats fail on both responsibilities.They failed yesterday, when Obama was part of
it; they fail today when his protégé Emanuel is part of it and they will fail
tomorrow unless and until the people say enough.What do failures do?Lie, distort, bluster and blather.We all know people who are successful only in
their own minds.In Chicago, we call
those people – mayor, alderman, governor, senator and Mr. President.
Romney the answer?Who knows?At least he understands who to give credit
There are at least three guaranteed characteristics of
anyone in Chicago politics:
1.They have the answers, and
2.They have the arrogance and chutzpa to present
the answers with great determination and knowing, and
3.They always make sure they are taken care of and
protected and that the same goes for their families.
The streets of the south and west sides of Chicago are not safe for the residents of the communities crisscrossed by those
The politicians and bureaucrats know where to go, when to go
and when to stay away from the unsafe streets.When they do go they are protected – with their own guns; with the guns
of the police who accompany them and with their entourages.
The residents operate under a vastly different set of rules –
·No police escorts
·No storm trooper helmets, vests and automatic
·No laws to protect them if they take their
safety and the safety of their children in their own hands
If your child can be shot on her front porch or skipping
rope on the sidewalk in front of her home, can you find solace in the tough
but empty words of a politician or a police chief or any cop who says it’s this persons
fault or that persons fault?
We think not.We think
the mayor and police chief can do one of two things.Either resign, or get off their well
protected fannies and take the following steps:
1.Declare a dusk to dawn curfew in the
neighborhoods noted above
2.Place two national guardsmen on every block in
every neighborhood until further notice
3.Suspend the Chicago police union contract until
further notice – declare a state of emergency and notify each officer that they
can either quit or operate under state of emergency orders until further notice.Terminate all police arrangements to protect
any politician current or retired.It is
a disgrace for any police officer to be so engaged when law abiding citizens
are unsafe in their own neighborhoods
4.Give each family in the neighborhood a damaging
but non lethal weapon to defend them and their families during the day and let
them openly carry it.Provide immediate
training in the use of said weapon(s)
5.Pass a defense of home law to relieve each law
abiding family of any responsibility for defending their home against any
6.Shoot to kill any curfew violator after a clear and
recorded warning (Chicago loves to record its citizens but does not extend such
similar courtesy to its politicians, police and bureaucrats - time to make this change)
7.Create safe access for law abiding adult or
employed citizens to come and go during curfew hours
Chicago is a disgrace to the country.Many of its streets are “no-man’s land” and
under the control of gangs similar to those operating openly in Mexico.Good police officers risk their lives to do
their jobs in this situation – many will not go there.The new police chief made himself
ridiculously visible fighting a gathering of 100 or so unarmed protesters a few
weeks ago safely surrounded by hundreds of storm trooper attired police.The police banged the heads of these kids attired
in their shorts and sandals and then retired to air conditioned surrounding for
self congratulatory sharing.Where is
this massive presence at 2:00 am in the Austin, Garfield, Lawndale, Englewood
and Kenwood neighborhoods to name just a few?
It is interesting to meet a man who is powerful in his own
territory – a governor of one of America’s sovereign states, yet who speaks
with great humility and intelligence as just one of us – one of “we the
It is not often that a man with this standing, stands up to
power and speaks the truth.We have
noticed that there are more governors who are becoming comfortable with saying
no to Washington.That is good; very
good because the hope for America now rests with the strength and forbearance
of strong, economically successful states that adhere to American
fundamentals.The California and
Illinois templates are doomed to failure.Many others still choose to play the game; go along to get along; always
on the make for one more handout; one more “federal government program” to ensnare
the people a bit deeper into the briar patch of dependency.
Also, Mr. LePage offers a website to keep current with his
actions for Mainers.It is a wonderful
repository of good ideas and common sense (go to:http://www.maine.gov/governor/lepage/
)TheFundamentals has taken the liberty
of snitching some of the ideas and common sense from Mr. LePage’s website and
presenting them below with full attribution.We have found no one who can say as much in as few words as Mr. LePage:
“It’s time to get Maine working again, and that
means tearing down the roadblocks that establishment politicians have built
over the past 40 years. Smaller, smarter government is the key to new jobs and
financial security for Maine families.”
“Reducing Maine’s excessive tax burden so Maine
families can keep more of their own money is the right thing to do. You know
how best to spend or save your hard-earned wages, not government.”
“Welfare should be a temporary helping hand to get
Mainers back on their feet – not a lifestyle and ticket to permanent dependence
An interesting fact.Did you think that Maine was one of our original thirteen colonies?It was not.It was actually a part of the commonwealth of Massachusetts until 1820
when it voted to secede from Massachusetts (excellent judgment Mainers!) and
then joined the US of A as our 23rd state.Did you know that Maine was just one of two
states that did not support Franklin Roosevelt in the 1936 election?The other was Vermont.So much for “as Maine goes so goes the
nation.”More recently Maine has
supported the last five Democrat candidates for president including the
incumbent.One of the many peculiarities
that fascinates this essayist are the voting idiosyncrasies of Americans – Obama
for president; LePage for governor?By
the way, over 90% of Mainers are non Hispanic whites.The official state treat of Maine is the
“Whoopie Pie.”This is what a whoopie
pie looks like:
The world’s largest whoopie pie ever was made in Maine last
year.It weighed 1,062 pounds. There is hope for America.
This essayist gets a kick out of the politicians and
bureaucrats and now, even more of a kick out of all the union folk representing
government employees who now make much more than private sector workers while
enjoying European style vacations and days off, health care benefits and, most
of all, ridiculously generous pension plans and payments, telling us that the
solution is higher taxes, higher government fees and higher everything flowing
Let’s take a look at what a real, regular American family
earns and pays in taxes.First we go
right to the census bureau (home of really well paid, hard working, public
servants who have almost guaranteed job security; all sorts of union rules
protecting them from any form of difficult job pressure – lots of high civil
service grades paying $80, $90 even $100,000 per year and then, on top of all
that, they also get all the free benefits and the generous pensions) and they
tell us that the typical American family earns $72,000 a year.So let’s start with this $72,000.00 (a lot less, by
the way, than many government family's).And let’s give them a household of four –
spouse and two kids.What do they pay with
those middle income earnings of theirs to our various hard working public
servants across the land?
First, the feds.Right
off the top goes 5.65% (goes up to 7.65% on 1/1/2013) for social security and Medicare.Never even see it - $4,100.00 gone.
Also, the IRS tells us that this family will pay federal income tax
around $4,320.00;goes to Washington
DC, straight out of the paycheck; never seen; never enjoyed; absconded before
the worker even gets to count it out and turn it over.
Now this family owns a home.Bought it fifteen years ago; paid $225,000 and it was worth $450,000 for
a few days in 2006 but now it is valued at $275,000.The local government and the school board and
the police and fire pension funds and the library and the mosquito abatement
folk all get to add their needs to a property tax bill sent out once a
year.Totals 2% of the value now set by
the local appraiser which is $300,000.So, out goes another $6,000.00.
This family also buys things to support their life
style.Mind you, not a lot of things
because you can see that two governments have already relieved them of $18,740
of their earnings or 25%.When they buy
things they pay state and local sales tax at the rate of 7%.We estimate that they spend about $20,000
each year subject to that tax so out goes another $1,400.00.And, they live in a state with an income tax
– most Americans do, 41 of the states have income taxes.Their state charges them 3% of their federal
“adjusted gross income” which is about $50,000 so another $1,500.00 is gone.
Let’s do a quick tally of where our “middle American family”
stands after the needs of the “public servants” have been met from their
Left over, so far 54,680.00
Now, we are not quite done yet but we are already at 24%
of our private sector working typical American family earnings are going to
governments – one way or another; one place or another.Over seventeen thousand dollars is levied on
them by many different government agencies and those costs keep rising regardless
of whether the family is able to earn more.
This family has to pay for its own health care insurance;
not entirely but they make a significant contribution each month to its cost
unlike most “public servants.”Each
month they pay $450.00 or a total of $5,400.00 for the year.And as you may be thinking, there are many
other forms of government fees and taxes they pay – on their electric,
telephone, natural gas and cable TV bills.They also pay a big tax at the gasoline pump each week.And, less we forget, they pay license fees
for their car and they need to pay other local fees for the bikes, the dog and
even the parking meter when they run into the doctor’s office.Whew!It adds up to about $950.00 each year.
So, let’s recap.The family wages start out at $72,000.00 and can be recalculated down to
$54,680.00 (see above) after social security, federal tax, property tax, state
sales and income tax.Then they pay for
health insurance and other hidden fees and taxes and they end up with
$48,330.00. 33% of their earnings
go out before they can even address their own issues.ONE THIRD OF WHAT THEY EARN. They may want their kids to go to good
schools, not the ones run by the local teachers union; they may want to
contribute to their church; maybe even take a vacation – not to some foreign
destination but just to the state park.First
though, they have to pay their mortgage and they have to buy different forms of
insurance and they have to pay for their utilities and many other necessities. Their
grocery bill rises almost weekly because of the runaway inflation that the high
paid, ride around in limousines with all sorts of security, bureaucrats tell
them does not exist.On top of that,
this family used to make a few hundred dollars on their savings account and
they used to be able to teach their kids to save because the savings would grow
with interest payments each quarter.No
more.No more interest for either them
or their kids.
America is destroying its middle class in a way unheard of
or unseen in its 236 year history.It is
taking money from regular people and wasting it on record levels of government
employees earning record levels of salary and benefits and receiving pension
payments earlier and at levels our privately employed family cannot even
imagine much less comprehend. The other consequence of this spending - there's no money for roads and schools and other needed public services. Money has been spent on bureaucrats instead of products and services.
You can tax the rich, tax everything they make, and you
still will not have enough money to pay all the government employees and all
their generous benefit programs and all their bureaucratic activities.So, don’t
tell TheFundamentals that you are going to offer relief to regular Americans by
taxing the rich.The only relief for
regular folk, working people will come through significant cuts in spending on government
employees and programs.Until then, the times will be
very taxing for those of us in the middle.