By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee
Poor Obama. Despite all his efforts, or maybe because of them, the U.S. economy keeps crumbling.
But to be fair, government is a failure everywhere. Exhibit A is the Big Fat Greek Bankruptcy. Have you heard? The Greek tragedy is unfolding...again. Greece is bankrupt and insolvent...again. Government thinks it can save Greece with taxpayer money...again. And the more money poured into Greece by the EU, IMF and central bankers, the worse it gets. The Greek GDP is going in reverse. The economy is crumbling despite hundreds of billions loaned by government only a year ago. Now it's time for Groundhog Day...again.
Does this story sound familiar? It plays on the news here in the USA nightly. Government pours trillions into the U.S. economy and things get worse by the day. Unemployment won't budge. The dollar is vanishing. Debt is multiplying. Real Estate is collapsing. Inflation is raging. So Obama spends more. The vicious cycle continues.
When will we ever learn? Politicians, bureaucrats, and central bank chiefs the world over keep repeating the mantra of big government- “If only you'll give us more time and money, this time we’ll fix the problem.” But as one of my heroes Ronald Reagan often said, “Government isn’t the solution, it’s the problem.”
History proves that government ruins whatever it touches. The fact is, the economy will not improve until we stop government from interfering. Government may feel our pain...but that's because they are the ones causing it.
But don’t take my word for it. The Congressional Effect Fund, a mutual fund on Wall Street, has studied the effects of Congress on the economy for decades. Since 1964- whenever Congress is in session, the U.S. stock market is up about 1% on an annualized basis. During that same period, while Congress is on vacation, the stock market is up 17%. Coincidence?
Still don’t believe government is a walking disaster?
How about the Veterans Administration? A federal appeals court recently ruled that the VA suffers from “unchecked incompetence.” That incompetence is killing our brave veterans. It turns out that 18 returning vets commit suicide per day. 85,000 vets are on waiting lists for care. Even severely depressed vets must wait eight weeks to see a psychiatrist. 1,500 vets die each year while waiting for care. If you deserve a disability check, you’ll be waiting as long as four years. Still want to serve your country? Still want government to run your healthcare?
The U.S. Postal Service– enforced by law– has no competition. Yet it loses $8 billion per year. No results like that have ever been produced in the history of the private sector.
The government-run school system is in shambles. Taxpayers spend the most per student, and get among the worst results in the world. The Dept of Education budget went from $30 billion to $60 billion under Bush. Anyone think results doubled? Under Obama we spent an extra $125 billion in stimulus on education. Anyone see any improvement?
My wife Debra and I home-schooled our daughter from birth to her acceptance at Harvard. The first classroom of her entire life was inside the hallowed halls of Harvard. She just got her Harvard report card. Straight A’s. Think it might be time to call government-run education a failure?
When Medicare was founded in the 1960’s, government “experts” estimated its cost at $12 BB per year by 1990. Instead it was $110 Billion.
When NASA started the Space Shuttle, their “experts” estimated its future cost at $10.7 million per trip. The actual cost has turned out to be $1.7 billion per trip.
Those kinds of mistakes drive companies in the private sector out of business. But this doesn’t present a problem for government employees. They just raise your taxes and retire on $100,000 pensions.
How about the Dept of Energy? It was founded in 1977 to solve our energy crisis. It now has 100,000 employees and spends $24 billion per year. On what? Anyone think we are less energy independent than in 1977? Why didn’t we just spend that entire budget on buying gas for the American people?
How about the Federal Reserve’s track record? The Fed was created in 1913 with one main goal- protect the U.S. dollar. Since the Fed’s creation our dollar has lost 94% of its value. Ninety-four percent. With friends like that, who needs enemies?
Worst of all is the cost of the government employees themselves. The unfunded liability for the pensions of federal employees is now over $5 trillion dollars. On the state level it is estimated to be between $1 and $3 trillion. One state alone, California, has unfunded liabilities of as much as $500 billion.
All of this money is spent on government employees who have produced an annual deficit of $1.6 trillion, and a national debt of $14 trillion. With unfunded liabilities added in, the taxpayers owe an unimaginable $100 trillion, almost double world GDP. What do these 22 million employees do all day? Think up new ways to bankrupt the country?
Should any of this surprise you? This same federal government took over the most famous legal brothel in the history of Nevada, and bankrupted it in a year.
The moral to this story? If you can’t run a whorehouse and make a profit, you can’t run my healthcare. Or the VA. Or public schools. Or the post office. Or the war on drugs. Or the Dept of Energy. Or the economy. Or ANYTHING.
If you’re waiting for government to save you, or this economy, or Greece, get ready for a long wait. Eternity.
Wayne Allyn Root is a former Libertarian Vice Presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts." His web site: www.ROOTforAmerica.com
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( 3 / 525 )Read Wayne Root's Commentary in Monday's Washington Times:
http://www.washingtontimes.com/news/201 ... -goes-bust
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( 3 / 536 )By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee
I am a successful small businessman and a patriot who loves America and always sees its greatness. I am also an optimistic, positive thinker who always sees the glass half full.
But not this time.
I predicted doom if Obama was elected. Sadly the results are far worse than imagined. The economy is in shambles. America is staring at economic disaster -- Armageddon. Even me, the eternal optimist is scared at what the future holds. We are the Titanic, headed straight for the iceberg.
America has always been a land of boom and bust. It’s just part of business cycle. But Obama and his socialist cabal have channeled Hoover and FDR, who turned an ordinary bust into The Great Depression with a toxic strategy of more government, more spending, more debt, more rules and regulations strangling business, higher minimum wages, more power to unions, more entitlements, higher taxes, more printing of money by Fed, and trade tariffs. This is the Obama blueprint squared.
The question this time is, is Obama doing it because he understands nothing about business? Or does he understand exactly what he's doing? Is Obama's goal to overwhelm the system, incite crisis, sow doubt about capitalism, and force the citizens to beg for government to save them, thereby opening the door to Socialism? Is Obama's plan to redistribute the wealth, and at the same time to bankrupt the people with wealth and power, thereby crippling his political opposition?
Does it really matter?
Here's where the story gets downright frightening. This time the results are going to be dramatically worse than 1929. This time we are facing The Greatest Depression ever.
Why? Because The Great Depression had NONE of problems and obligations we are now facing:
In 1929 America was not $100 trillion in debt and unfunded liabilities.
In 1929, most of our states were not bankrupt, insolvent and dependent on the federal government to survive.
In 1929, we had far fewer government employees living off taxpayers. Today 1 out of 5 federal employees earn over $100,000. California lifeguards and Las Vegas firemen earn $200,000. 77,000 federal employees earn more than the Governors of their states. Government employees retire at age 50 with $100,000 pensions for life. The postal service - without competition- loses $8 billion annually. Protected by their unions and the politicians they elect, government employees are bankrupting America. Even FDR said he could not imagine allowing public employees to unionize.
In 1929, Social Security, Medicare, and Medicaid didn’t exist. The federal government had no such obligations threatening to consume the entire federal budget within a few years.
In 1929, there was no such thing as welfare, food stamps, aid to dependent children, or English as a second language programs. American’s didn’t consider it the responsibility of government to pay for breakfast and lunch for school students - let alone illegal immigrants.
In 1929, we didn’t have millions of illegal immigrants and their children collecting billions of dollars in entitlements from U.S. taxpayers.
In 1929, legal immigrants wanted only to work. My grandparents from Russia and Germany received no government benefits. They worked day and night to provide for their family and become American citizens. It was sink or swim.
In 1929, we had 150 million citizens with a strong work ethic- all motivated to earn the American Dream for their children and grandchildren. Americans were hungry in 1929. Today the hungry, motivated citizens and entrepreneurs are in China and India.
In 1929, we had an education system that was the envy of the world. Today our public schools are in shambles. We spend the most in the world, and get among the worst results. The difference today? Teachers unions are in charge, instead of parents
Our students are taught socialism and the great benefits of big government. They graduate with few skills, qualified only for low paying manufacturing jobs that no longer exist- they've been shipped to China and India. What will this workforce do for the rest of their lives? Live off the government dole? Who will pay for it?
In 1929 children had hope for the future. Today they are hopeless, helpless, and clueless – an entire generation that only knows drugs, gangs, rappers, government handouts, teen pregnancy- and it goes downhill from there.
In 1929 taxes were much lower. Forget the tax rates- they were meaningless. In those days we had a cash economy, so most businesses paid little or no taxes. Sales and FICA taxes didn’t exist. Today the combined local, state, property, gas, sales, FICA and federal taxes are the highest burden in history. This stifles entrepreneurship and hinders the financial risk-taking necessary to create jobs and get out of a Great Depression.
Do you get the picture? Disaster looms. We are staring at the Greatest Depression ever.
Still doubt me? Did you read the recent news report of 80 teen girls all pregnant in one Memphis high school? That’s 80…eighty…in one high school. This is happening all over the USA. Who will pay the bills?
We are in deep, deep trouble. There is no easy way out. The noose is tightening. The economy is crumbling. The situation is turning more hopeless by the hour. The more government gets involved, the worse it gets. Coincidence?
The solution is simple- cut government, cut spending, cut entitlements, cut taxes, stop the wars, end the Fed, term limit politicians, and back the dollar with a gold standard. Or, like so many other great empires of history, America may never recover from this Greatest of All Depressions that Obama is driving us directly toward.
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( 3 / 634 )Obama Awakens a Sleeping Giant
By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee
Mark the date - Thursday May 19th. It’s the day the leopard showed his spots. It’s the day Obama stabbed Israel in the back. It's the day he told Israel, DROP DEAD.
For the first time in history an American President has chosen to abandon our great friend and ally, Israel, in favor of radical Muslims led by the terrorist group Hamas. But, mark this also as a great day- the day Obama lost the 2012 election. Obama has awakened a sleeping giant- American Jews and Christians, united in their love and support for Israel. They are outraged, shocked and sickened. Obama clearly showed his radical and hateful colors. The American people will not forget.
Just days ago, because of the weak GOP field, I wrote that Obama was the favorite for re-election. Thursday that all changed. Obama’s ego and hatred of Israel could not allow him to play possum for another eighteen months when he’d be re-elected. He could then unleash the full extent of his anti-capitalism, anti-American, anti-Israel venom without having to ever face American voters again. But, like all radical true believers, his hatred is so extreme he couldn’t wait. He’s been so indoctrinated by communist organizers, Marxist professors, terrorist sympathizers, and radical Muslim apologists, that he just couldn’t contain himself.
On Thursday, Obama left no doubt that he sides with and wants to redistribute money from American taxpayers to Palestinians and radical Muslims like Hamas that target Israeli women and children…that encourage their own children to become suicide bombers…that hand out candy in celebration for the murder of an innocent Jewish baby…that force women to endure public lashings for disobeying a husband…that execute women for “allowing themselves” to be gang-raped…that pour acid on the face of little girls who dare to want an education…who throw gay men off the roofs of buildings…who marry off their 5-year-old daughters to pay the bills…who imprison all women for life behind dark veils in 120 degree heat, to keep them from being seen by other men.
Obama wants to redistribute your taxpayer money to radicals who attack churches and murder Christians. He wants more foreign aid for Egypt, a country headed for domination by the Muslim Brotherhood, an ally of Nazis in WWII. That is who Obama has chosen to side with over a modern, capitalist, American-loving Israeli society with democracy, freedom and equality for men, women, gays, and Arabs. Not perfection, because we all know that neither America nor Israel is perfect. But, like in America, all people (including Muslims) enjoy far more freedom in Israel in any Muslim country.
If you are a thinking, fair-minded person, Christian or Jew, that supports Israel’s right to exist, you must be sickened and outraged by Obama’s demand for Israel to return to its 1967 borders. That demand displaces over 300,000 Israeli citizens. What right does America have to make 300,000 people of another country homeless? What right does America have to meddle in Israel’s affairs? What right does America have to demand an ally give up its own territory won in a defensive war? Should America give Texas back to Mexico? Should we hand Boston back to the British? What right does Obama have to give away the land Israel needs to provide natural defenses from Hamas missiles and terrorist attacks? What if America’s meddling leads to the destruction of Israel and the death of millions of innocent Israelis? With friends like this, Israel no longer needs enemies.
If you are a Libertarian non-interventionist who has “no dog in the hunt,” you should be outraged that an American President is choosing sides at all. You should be outraged that Obama is inflaming tensions that could lead to World War III. You should be outraged that instead of cutting off foreign aid to radical countries, or eliminating all foreign aid, Obama on this same day recommended several billion dollars in new foreign aid to countries filled with radical hate for America, as well as Jews and Christians worldwide.
If you have common sense you should be outraged at the very idea of throwing away more money. America is broke. We must cut back dramatically on foreign aid, or eliminate it. Why would we commit billions to countries ruled by despots and radicals that hate America and support the destruction of Israel? Billions from where? We now borrow almost 50% of what we spend and Obama wants to give away more money that we have to borrow from China, or have the Fed print more fake money to give away to people that hate us? This defines reckless and radical.
Obama no longer speaks for the American people. On Thursday he made that clear. He also lost the election that day. Jewish voters will never again feel the same about Obama. And while Jews make up only 2% of America’s population, they provide a majority of the donations to Democratic politicians. Obama lost many crucial Democratic donors on Thursday. But Obama’s biggest mistake was awakening a sleeping giant. It is Christian voters that elect Presidents. And almost 100 million evangelical Christians who love Israel will now vote and donate to Obama’s opponents with a fervor and passion of a patriotic group on a mission to save America and Israel from destruction. And sadly, they will be right.
Wayne Allyn Root is a former Libertarian Vice Presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts." His web site: www.ROOTforAmerica.com
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( 1.9 / 2005 )By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee
Republican Presidential contenders are melting like tourists on the Vegas Strip, without sunscreen, on a 117 degree day in July. Doesn’t anyone in the GOP actually want to run against the worst President in modern American history?
It can’t be Obama’s record that’s scaring Republicans. Obama is overseeing the worst economy since 1929…contributed heavily to the worst sovereign debt crisis in history…presiding over the worst collapse in real estate ever…helping to ensure the highest gas prices in history by refusing to allow oil drilling until recently…the list goes on and on. You’d think the Republican contenders would be licking their lips at running against that record? Instead they are falling by the wayside.
Let’s examine the carnage. This analyst and political pundit predicted Donald Trump’s political career was over three weeks ago when “The Donald” played casino pit boss and F-bombed his way through a Vegas speech. Have you ever heard of multiple F-bombs in a major political speech in by a Presidential contender? Unimaginable.
Forget the birth certificate controversy. Trump was still sitting high in the polls even after Obama released his birth certificate. But there was no escaping using multiple F-bombs on the biggest political stage. Not in a GOP filled with evangelical Christian voters, and parents who wash their children’s mouth out with soap for using that same word. Donald “F-bomb” Trump’s political career ended that day in Vegas.
What about Huckabee? A Presidential frontrunner, this former man of God couldn’t turn down fame and money. Huckabee proves even the Presidency isn’t as lucrative as a TV show on Fox News.
Then there’s Newt Gingrich. I winced as I heard Newt’s words on Sunday. It’s tough to watch a political career implode on national TV. Newt’s career is over. Forget President. I mean any future political career. Senator. Governor. Dog catcher. Newt was electrocuted on the third rail of GOP politics. He supported big government control of our lives, backed the central tenet of Obamacare, called the GOP proposal for cutting Medicare spending “radical right wing social engineering,” and back-stabbed GOP Congressional hero Paul Ryan. All in one day. Goodnight Newt. You and your third wife can go home now.
And then there’s Mitt Romney. Mitt had the White House for the asking. One speech apologizing for Romneycare and promising to never allow it to happen again, and Romney is the next President of the United States. Here’s the speech that Mitt should have given:
“I made a big mistake. States can act as laboratories for new ideas. We tried an experiment with government-directed health care in my state. It didn’t work. Costs are up. Waits are up. Doctors are leaving the state. The experiment failed. I was wrong and I apologize. But good things can come out of failure, if you learn a lesson. Here’s what I learned. Big Government cannot manage the nation’s healthcare system…or anything else. Government drove a brothel into bankruptcy in Nevada. Government ran gambling (Off Track Betting) into bankruptcy in New York. Big Government has given you a $14 trillion national debt- $100 trillion if you add in unfunded liabilities. Your children and grandchildren face a bleak future because of Big Government. Big Government is a failure; I proved it in Massachusetts. I won’t let it happen again. I’ve learned from my mistake. I will not allow Obama to destroy our healthcare system by putting the government in charge. You have my word.” Insert: STANDING OVATION.
But no, Mitt didn’t deliver that speech. He delivered the only speech that could possibly snatch defeat from the jaws of certain victory. He defended the disaster he created in Massachusetts. Really? Could anyone be that blind, deaf and dumb? Who wrote his speech- the Chicago Cubs?
Then we come to Libertarian legend Ron Paul. When it comes to economic issues, Paul is a visionary. This trailblazer warned America and the GOP about the dangers of big government, overspending and the Fed long before it was hip. If he ran as a Libertarian or independent third party candidate, Paul might actually have an opportunity to win the Presidency, or at least build a serious third party movement. Unfortunately his views on war, military spending, and Osama will make it highly unlikely he can win a GOP primary. But I see an ideal role for Congressman Paul in any Republican administration- Treasury Secretary or Federal Reserve Chief. Now that would have an impact.
Doesn’t anyone want to beat Obama? Who’s left? Tim Pawlenty and Mitch Daniels? Two boring middle-aged white guys with the charisma of Al Gore? That’s the best the GOP has? Watching wet paint dry is more exciting, than watching Pawlenty or Daniels deliver a speech. Sorry, boys, but wet paint drying isn’t going to defeat Obama. Not if he has his teleprompter working properly.
Yes others could yet become the darkhorse for the GOP nomination- Michele Bachmann, Herman Cain, Gary Johnson, perhaps even Sarah Palin.
But someone in the GOP had better hope that Chris Christie is having a change of heart. Then get down on your knees and pray. Pray hard. Then ring the doorbell of the New Jersey Governor’s mansion and start begging. Because without a Christie miracle, the worst President in modern history just became the favorite for re-election.
Wayne Allyn Root is a former Libertarian Vice Presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts." His web site: www.ROOTforAmerica.com
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