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This Fight Is for You

September 24, 2013
by Jim DeMint

The Heritage Foundation has been talking about defunding Obamacare for some time now, and people may be wondering why. Why did we put up a billboard in Times Square warning Americans that Obamacare will be hazardous to their health? Why won’t we give up this fight?

Because we are fighting for you.

We’re fighting for the grandmother who is counting on her trusted physician to guide her through the challenges of aging. Because Obamacare means you can’t necessarily keep your doctor if you like him, and it’s cutting down on the health care choices available to seniors.

We’re fighting for the couple who’s raising their own children while wondering how they’re going to care for their aging parents. Their premiums are going up and they’re wondering how they’ll afford it.

We’re fighting for the waiter who’s going to school and working full-time. Obamacare is causing many employers to cut back on workers’ hours so that they don’t have to provide them with health insurance. For many people, that means losing income and losing health insurance at the same time.

We’re fighting for the single mom who needs a steady job to support her kids. Obamacare is making jobs tougher to find, because a lot of businesses are saying they just can’t hire anyone new. The burden of the law’s mandates and regulations is making it too costly.

Every one of you is working hard to support your family, stay healthy, and make the best choices you can make. Obamacare is only getting in the way.

So no matter what anyone says, we’re going to keep fighting. Harry Reid is threatening to use all sorts of procedural gimmicks to keep Obamacare going. But Americans are catching on that this law is the reason their spouses don’t have health insurance any more, or their kids’ doctor isn’t in their network any more. They’re seeing how unfair and harmful it is.

And we can’t just sit by and let Obamacare take away the health plans we like, the doctors we like, and the freedom to make our own health care choices.

We won’t stop fighting. You can count on it.

Read the Morning Bell and more en español every day at Heritage Libertad.

Source

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

unelected.org
Sat, 01 Sep 2012 01:33 CDT

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.

Ben Bernanke (pictured to the right), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling:

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”- Bernie Sanders (I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.

The list of institutions that received the most money from the Federal Reserve can be found on page 131of the GAO Audit and are as follows..

  • Citigroup: $2.5 trillion ($2,500,000,000,000)
  • Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
  • Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
  • Bank of America: $1.344 trillion ($1,344,000,000,000)
  • Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
  • Bear Sterns: $853 billion ($853,000,000,000)
  • Goldman Sachs: $814 billion ($814,000,000,000)
  • Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
  • JP Morgan Chase: $391 billion ($391,000,000,000)
  • Deutsche Bank (Germany): $354 billion ($354,000,000,000)
  • UBS (Switzerland): $287 billion ($287,000,000,000)
  • Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
  • Lehman Brothers: $183 billion ($183,000,000,000)
  • Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
  • BNP Paribas (France): $175 billion ($175,000,000,000)

and many many more including banks in Belgium of all places

View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):

Sources:
US Government Accountability Office (GAO)
FULL PDF on GAO server.
Senator Sander’s Article

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts — Puppet Masters — Sott.net.

Paul Philosophy Gains Steam with GOP Establishment

Libertarian ideas of smaller government, cutting domestic spending and a balanced budget not only run in the Paul family, but are starting to take a hold with mainstream Republicans as well.

Just ten years ago, the budget and domestic spending would not have been as high of a priority to many within the party other than Senator Rand Paul’s (R-Ky) father, Senator Ron Paul (R-Texas).

When the younger Paul proposed his latest take on the FY 2013 United States Budget, it was seen as the “most radical” of today’s four proposed Republican budgets by many on the left. But it was also seen as a refreshing change by many on the right.

Most surprising about the Paul Budget is not that it made it to a vote at all, but that 17 of the Senate’s 47 Republicans voted for a budget that was supposedly too radical.

Today’s vote got a ‘yea’ from Senator Jim DeMint (R-SC), Senator Orrin Hatch (R-Utah), Senator Mitch McConnell (R-KY) and Senator John Thune (R-SD) just to name a few.

The Paul budget most notably called for the elimination of the Departments of Education, Energy, Commerce and Housing and Urban Development (HUD), which is seen as a large step by mainstream conservatives in getting the nation’s finances back on track.

According to the American Spectator, the Paul budget will also reduce federal spending by $11 trillion relative to President Obama’s budget, reduces discretionary spending to 2008 levels, and reduces foreign aid at $5 billion per year.

Theoretically, the Paul budget will not only balance the federal deficit in five years, but it would actually achieve a $111 billion surplus by 2017. If that wasn’t juicy enough for most conservatives, the Paul Budget would also repeal Obamacare, Dodd-Frank and the Davis-Bacon prevailing wage requirements.

Super committee defense spending sequesters would also be ended, and the Federal government would also be required to end ownership of any failed private sector companies and stop bailing corporations out.

Despite the spending cuts that will be seen as ‘hefty’ by those on the left, the Paul budget sets out to prove that many items can be cut without touching entitlements.  A separate bill addressing Medicare has yet to be drafted.

None of the senators were available for comment.

Source:  Paul Philosophy Gains Steam with GOP Establishment.

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