About Me

In writing the "About Me" portion of this blog I thought about the purpose of the blog - namely, preventing the growth of Socialism & stopping the Death Of Democracy in the American Republic & returning her to the "liberty to abundance" stage of our history. One word descriptions of people's philosophies or purposes are quite often inadequate. I feel that I am "liberal" meaning that I am broad minded, independent, generous, hospitable, & magnanimous. Under these terms "liberal" is a perfectly good word that has been corrupted over the years to mean the person is a left-winger or as Mark Levin more accurately wrote in his book "Liberty & Tyranny" a "statist" - someone looking for government or state control of society. I am certainly not that & have dedicated the blog to fighting this. I believe that I find what I am when I consider whether or not I am a "conservative" & specifically when I ask what is it that I am trying to conserve? It is the libertarian principles that America was founded upon & originally followed. That is the Return To Excellence that this blog is named for & is all about.

Saturday, April 9, 2011

Missed Instant Opportunity

"The deal that was reached tonight is a disappointment for me and for millions of Americans who expected $100 billion in cuts, who wanted to make sure their tax dollars stopped flowing to the nation's largest abortion provider, and who wanted us to defund ObamaCare. Instead, we've been asked to settle for $39 billion in cuts, even as we continue to fund Planned Parenthood and the implementation of ObamaCare. Sadly, we're missing the mandate given us by voters last November, and for that reason I voted against the Continuing Resolution."  These are the words of Minnesota Congresswoman Michele Bachman - Leader of the House Tea Party Caucus following the literal 11th hour vote (actually 12:40 AM) to reach a deal to fund the government for the remainder of FY 2011 thereby averting a government shutdown.
After the completely Democrat controlled government (Pelosi, Reid, BO) of calendar year 2010 would not make their big government spending intentions known by voting for a budget for FY 2011 - which started October 1, 2010 - they provided an instant opportunity for the new House Republicans to take command the first day of January.  Had these Democrats voted in a budget last year the Republicans would not have had this instant opportunity to stop the socialization of America.  What we found was that the Republicans' campaign promise in 2010 to cut spending $100 billion their first year in office & to repeal &/or defund ObamaCare to whatever degree possible really meant that it was $100 billion on a prorata FY basis as a negotiating starting point that would ultimately be reduced from $61 billion to $38.5 billion & to postpone the fight re ObamaCare.  The latest promise is to save the real 2012 FY budget fight of trillions of dollars for another day & include the defunding of ObamaCare months from now after it is even more entrenched.  What a disappointment.
Worst yet, before Boehner & the old guard Republicans consummated the deal just before midnight Friday they called lobbyists (not their constituents) on K street in Washington DC to confirm approval of the deal - source Greta van Susteren FNC.  For people who consider themselves conservatives - let alone Tea Partiers - this should clearly show who these politicians work for & it is not you.  But who in power would ask for approval of people not involved in sufficient number in their own destiny?
A Wall Street Finance VP subscriber to ReturnToExcellence.net posted a comment of disappointment directly on the April 1 blog posting & also let me know "I am very angry at Boehner and now more worried than ever about a US Dollar collapse.  Today's politicians know zilch about finance.  Many never produced a dollar for the economy.  Incredible that politicians could not approve even a 2% budget haircut for a budget that has grown 24% in 2 years.  The $38.5 billion is not a done deal.  We must convince our representatives to vote it down, ask for more -- or have the IMF and G20 take control of our finances after dollar collapse and give all of America a 50% or more entitlements haircut."
The three Republican freshmen that I have been following closely - Woodall, Lankford, & Scott (SC) - split their votes this time.  I am so happy to report that Tim Scott voted with Michele Bachman & Steve King.  One of my last nights in Hilton Head this past winter Congressman Scott personally called my best friend in Hilton Head during one of our many dinner meetings to assure her that he was the real deal.  Scott is a FairTax co-sponsor & it looks like he has learned a great lesson for America in his first days in Congress.  We just need so many more.


  1. I just sent an email to my NJ Senators Menendez and Lautenberg. It includes a recommended speach for Obama to make

    Letter starts off as:


    President Leadership is required to prevent IMF and G20 control over our economy – this summer!

    Richard Nixon, a renowned stark hawk paved the way to relations with China. No way could this have happened with a liberal Democrat. This “China opening” resulted in many benefits. We feel one right now. They, along with the Federal Reserve have financed our increasing debt. However this may end very soon (think Summer) and a dollar collapse may lead to IMF and G20 control over our economy. This can result in a drastic change in life as we know it in the US. IMF/G20 may impose 50% or more entitlements cuts due to a bankrupt US. Our best chance to avert this is for our radical leftist President to come out and state:

    go to Economics501.wordpress.com

  2. Here is the speach I asked our Senators to forward to Obama:
    Our economy may collapse in a few months due to our ever increasing debt. We can no longer borrow 43 cents of every dollar we spend this year. Our creditors may soon balk at buying T bills. They may have better investments elsewhere or need to address their own internal economic investments. Due to the economic consequences of Japan’s earthquake/tsunami, Japan’s leadership has informed me that their ability to continue to finance our debt has virtually disappeared. Our other foreign creditors have gotten to a point where financing US debt may result in steep investment losses, unless we act now.

    We can not let our total government debt double 4 years to 18 trillion dollars. I will not allow this. I have painfully learned hard economic facts. I will do everything possible to improve our financial status to the point where our creditors will view the US T Bills as an investment that will result in positive returns. I therefore am calling for immediate action on Paul Ryan’s budget plan. Although I have some differences with it, I applaud Mr. Ryan’s meticulous economic analysis and genuine attempt to save our entitlements, and more importantly our nation as we know it. Let us work together, revise it so that it reaches broader support. Nevertheless let us agree on the trillions of dollars it calls for over the next decade. Once we pass this I am confident our creditors will view the US as a stable place to invest in.

    If we do not act before this summer, time may run out. Why?
    Our creditors have witnessed our fight to decrease our budget by only 1% or $38.5 billion. This is only good for no more than 10 days as we increase our total debt by 4 to 5 billion per day. Investors in China now may increasingly view internal investments as their middle class has been growing, instead of buying our T bills.

    The dollar has lost 14% of its value past 10 months. This may accelerate. Our Fed has been averaging $4 billion a day financing our debt since November (our debt increases 4-5 billion per day). No wonder the 10 year T Bill is only 3.5%. If the Fed backs off QE2 in July, rates will increase and we may witness a severe US Dollar collapse. Pimco, the world's largest bond fund, already sold off all of their T Bills few months ago.

    Let us not look back and blame wars, tax cuts, sincere but economically naive attempts growing entitlements. Let us not blame Democrats or Republicans. One factor for this stark change in policy is due to the economic consequences of Japan earthquake/tsunami. Japan’s leadership has informed me that they their ability to continue to finance our debt has virtually disappeared. Let us address the present and future and save our nation. I therefore have asked Secretary Geithner to closely work with Congressmen Ryan, Boehner, Pelosi, Senators Reed and McConnell to finalize a deal by the end of June. I have also asked several consultants to assist in this process. These consultants are our (or have been) our key creditors. They include investors from Pimco, T Rowe Price, Fidelity, sovereign debt managers from Saudi Arabia and Kuwait, China.