Bill Clinton Calls for Corporate Tax Cut

President Bill Clinton says the nation’s corporate tax rate is “uncompetitive” and called for a lower rate as part of a “mega-deal” to raise the debt ceiling.

“When I was president, we raised the corporate income-tax rates on corporations that made over $10 million [a year],” the former president told the Aspen Ideas Festival on Saturday evening.

“It made sense when I did it. It doesn’t make sense anymore, we’ve got an uncompetitive rate. We tax at 35 percent of income, although we only take about 23 percent. So we should cut the rate to 25 percent, or whatever’s competitive, and eliminate a lot of the deductions so that we still get a fair amount, and there’s not so much variance in what the corporations pay. But how can they do that by Aug. 2?” Read More

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On November 1^st the New Jersey Senate and Assembly are up for Election.

Please Vote Wisely.....

Republican Budget Plan to Eliminate National Debt!

House Budget Chairman Paul Ryan,
holds a copy of his budget proposal

Rep. Paul Ryan presents the Republican's budget proposal that will eliminate the national debt and preserve entitlement programs like Medicare and Social Security.

Speaking just hours before the spending plan gets its formal introduction before Congress, Ryan, head of the House Budget Committee, said the debt will peak at 74.5 percent of gross domestic product in 2014 and then drop from there.

"We've got to show the country that we can get this situation under control and grow the economy, and that's what we're doing," he said. "So whether (Democratic Senate Majority Leader) Harry Reid is willing to pass this bill or Barack Obama is ready to sign it, I don't know the answer to that question. Read More

By Joseph Hovanec Jr

Meanwhile Obama spoke to the media after meeting at the White House with Leaders of both parties. He indicated that the proposals presented thusfar to avoid a government shutdown are non starters.

It is a sad state of affairs when the President and Democrats are insisting on compromise now when they were not willing to compromise while they had total control of both houses and the White House. 

They also failed to pass a budget last year when it was due and they had that control. They could have passed a budget at any time last year and there would have been nothing the Republicans could have done to stop them. Instead of doing their job they chose to ignore the budget while they played politics in their failed attempt to hold onto power in the House. 

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Largest Federal Budget Deficit In Us History!!!

Federal Government Posts  Largest Monthly Deficit in History

The Congressional Budget Office has reported the federal government will post a

$223 Billion Deficit for the "Month of February", which sets a new record for the largest monthly deficit posted in U.S. history.

The new figure comes as President Obama has released a $3.7 Trillion Budget for 2012 that will add $1.6 trillion to the National Debt. Republicans have proposed meager budget cuts for the current fiscal year, but Democrats and the White House have strongly opposed them and submitted their own woefully inadequate budget cuts.

The debate on cutting federal spending continues on Capitol Hill as Democrats call $61.5 billion in cuts proposed by Republicans "draconian," while "meeting the GOP half way" by presenting their mere $4.7 billion in cuts as the threat of a partial government shutdown looms for the second time in less than three weeks.

"Meeting Half Way" ?  I dont know about anyone else, but my third grade math does not comprehend 4.7 billion as meeting 61.5 billion half way.

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Who Is Keeping Trach Of The TRILLIONS Spent By The Federal Reserve?

WHO IS KEEPING TRACK OF THE TRILLIONS?

 

Congressman Alan Grayson



House Democrat Alan Grayson questions Elizabeth Coleman, Inspector General of the Federal Reserve on the lack of oversight over $9 TRILLION in secret Fed bailouts, and exactly who is accounting for all that cash.

You will be stunned by the incompetence the short video clip below exposes!

It is imposible to imagine that anything like this can happen in this Country but it is happening now and it is real!



Elizabeth Coleman, 
Federal Reserve Inspector General



MUST SEE VIDEO  Pressed for time?  Begin watching at the 3-minute mark.

Help us make a difference! Please Circulate This Far and Wide, Our only hope to stop this egregious incompetence that borders on theft, will come from creating greater awareness.

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NJ Bond Rating Downgrade Demonstrates Need For Fiscal Vigilance

Decades of NJ Politicians Irresponsible Borrowing and Spending Come to a Head

Senator Anthony Bucco, the Senate Republican Budget Officer, issued the following remarks regarding Standard and Poor’s downgrade of New Jersey’s general obligation bonds:

“For more than a decade New Jersey irresponsibly borrowed, taxed and spent, often without voter approval, until the state is near the edge fiscal collapse.

Standard & Poor’s downgrade is further proof that the tough decisions being made by Governor Christie are the only way to return New Jersey to fiscal health. Read More

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Kean Calls for Real Action

Senator Republican Leader Tom Kean made the following statement in the context of today’s Assembly Budget hearing on the State’s structural deficit:

“The need to fix a decade long structural deficit in New Jersey is old news. What’s new is Governor Christie’s commitment to not raise taxes. The legislature should now build on the structural reforms started since Governor Christie took office.

Here’s a plan of immediate action: further reforms to pension and health benefits, acting on proposals to save our gaming industry, and moving forward with ’tool kit’ reforms that drive down the costs of government at the State and local levels. My hope is that we come to the center of the room and find these solutions in bipartisan hearings.”

Read More

“Less than one week after the U.S. national debt surged past the $13 trillion mark, the Reuters headline warned ‘U.S debt to rise to $19.6 trillion by 2015.’

“This unsustainable mountain of borrowed money will quickly bring the ratio of debt to the gross domestic product (GDP) to 102 percent by 2015 from 93 percent this year. Which means the amount of money owed to our creditors such as China and Japan – will exceed the total value of the goods and services we produce.

“Of course, we must pay interest on that debt. And that is money we cannot use to provide one small business loan, close our borders to illegal aliens, provide security sensors at our ports, or train, equip and better protect one soldier or Marine.

For More from Congressman Frelinghuysen Click Here

Read the Reuters story “U.S debt to rise to $19.6 trillion by 2015 Click Here.

Recommended Reading II: Please read an insightful article from the June 8 edition of Forbes: “The Dark Side Of Stimulus.”

As The US Continues To Mirror Europes Social Benefits, Will We Also Suffer The Same Fate

Can we in the Unites States be headed for the same fate as Greece and the rest of Europe?

Some will say no, "The government has a duty to provide social services" and "Our Legislators would never let that happen here"....Yet history shows that most Politicians govern for votes and rarely consider how the social benefits handed to their constituents for those votes will be paid for over the long term, nor do they take into consideration the natural ups and downs of the economy when their vote binds future taxpayers to pay for programs that they pass into Law.

We may be watching the answer unfold as we watch Europes Social Model colapse under its own weight. An article from The New York Times, "Europeans Fear Crisis Threatens Liberal Benefits", sheds light on the troubles created by Politicians and out of control labor unions that provide benefit after benefit with no regard to the fiscal sustainability of those programs and benefits over the long term.

The short answer is "Elections Matter", and if America does not want to suffer the same fate that Europe now faces, we must vote for politicians that are committeed to fiscal responsibility and the reduction of government spending in every level of Government.

N.J. Governor Chris Christie Sets Tone For Rest Of The Country

New Jersey Governor Chris Christie is tackling the nation’s worst state deficit.....$10.7 billion of a $29.3 billion budget.  In doing so, Christie has become the politician so many Americans crave, one willing to lose his job. Indeed, Christie is doing something unheard of: governing as a Republican in a blue state, just as he campaigned, making good on promises, acting like his last election is behind him.

Christie is adamant about lowering taxes. Under Democrat Control, taxes were raised 115 times in the last eight years, he said the wealthy are tapped out. Property taxes rose nearly 70 percent in the last decade, and studies show top earners — the 1 percent of taxpayers paying 40 percent of income tax — are fleeing the Garden State.

The multi-billion dollar question for NJ Taxpayers is; do they have the courage vote out the majority and change control of the State Legislature in 2011 when the Full Assembly and Senate will be up for re-election as they did with the top seat of Governor.

Read More