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OweNo.com

Before Christmas, my wife Kathy alerted me to a website that's doing their best to educate citizens about the burgeoning US National Debt.

The website is called OweNo.com. It's a pretty clever name indeed.

I copied the first two paragraphs from their About Us page to give you a snapshot of what they're about:

"OweNo is a national public awareness campaign whose mission is to educate Americans about the causes and consequences of the projected growth in federal debt levels and engage them in a national movement to address these important fiscal challenges.

America faces a growing crisis -- our $13.6 trillion federal debt is expected to grow to astonishing levels in future years, threatening the economic health of our nation, and particularly our nation's most vulnerable citizens and the next generation who will inherit our debt. But if we act now to put together a plan for our fiscal future ­- and if we work together across party lines to implement it - we can start to fix the problem, live within our means and create a better nation for our kids."

I urge you to get on to their newsletter list so you get periodic emails about news, announcements and any initiatives. They seem like they know what they're talking about.

Comments

Here is another very useful web site for getting information about the debt and deficits.

http://zfacts.com/


In addition, here is an article that talks about more jobs going overseas. You want to know why the U.S. is having serious financial difficulties? It's no more complicated than this: Good jobs that used to be created here in America are now being created overseas instead. That's it in a nutshell friends.

http://www.comcast.net/articles/news-general/20101228/US.Overseas.Hiring/?cid=NET_SZHeadlineRSSLinks&attr=article_news_general_US.Overseas.Hiring

Lou on December 28, 2010 3:02 PM

Here is a neat website for a whole host of interesting statistics.

http://www.poodwaddle.com/worldclock.swf

Eldon on December 29, 2010 6:32 PM

I hope that you are including the $800 billion that the nation WILL NOT BE RECEIVING as a result of the republican rant to extend the tax breaks. Why is this OK if the national debt is already so high???

Walt on January 1, 2011 3:45 PM

Another useful site:

http://www.prisonplanet.com/

target the MEGGA rich (Multi-Billionares) who milk the middle class whilst evading (sorry) creativley avoiding tax themselves..... BUY SILVER CRASH JPMorgan:

http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash

Dale Hampson on January 1, 2011 5:13 PM

High and constant and newly created taxes are sure indications of a socialist, nanny state mentality. these sort are always the same. Take as much money from the people through all sorts of schemes so that we can fund our social programs. I saw this clearly in Toronto Canada before I moved from there. Socialist silly hall imposed a $60 car license fee. New tax. they rolled out the new garbage bins of various sizes and costs. New charges on plastic bags when shopping. they were even hunting down people who had pets without a license and were considering a 'side walk' tax along the entertainment district. Oh and lets not forget the huge tax on home purchases in the city. People finally had enough and voted the bums out and now have to work to get their financial house in order. It seems very foolish to blame lowering our taxes on fiscal problems. Low taxes contribute to a vibrant economy. government overspending doesn't. that is the problem. Ever expanding government programs require ever expanding bureaucracy which is paid for by the tax payer. These are not real jobs that spur growth. these are government jobs with big pensions and wages. Government debt is the villain, not low taxes. And we haven't even talked about out of control regulation which is strangling companies to death.

Craig Mouldey on January 1, 2011 5:14 PM

I am not in the rich category; however, who gave anyone the right to say, I think you earn too much money and I'm going to take it and use it as I see fit? That is not American or Capitalism.

Just as an FYI. The filthy rich you want to get so bad already pay the lion's share of all taxes. I'd need to double check, but I believe the top 1% pay almost 40% of all the taxes and the bottom 50% pay less than 3% of all taxes. I think the rich are paying more than their fair share.

Moose M on January 1, 2011 5:58 PM

*IF* tax rates had gone up as scheduled, they would have returned to levels existing during the Clinton administration, LOWER than they were under Pres. Reagan--hardly bilking or trying to "get" the already-well-off.

All things being equal, I would have preferred that everyone's taxes go up. After all, like the wars or not, we're currently borrowing to pay for two wars plus the Medicare Prescription (all initiated during the Bush administration BTW). Paying for our defense is hardly the "nanny" state.

John Burik on January 1, 2011 6:11 PM

We have three seperate problems: the debt, Medicare, and Social Security.

The debt is not the problem of our electorate; they simply do what we want them to do. Give us lots of stuff without paying for it.

With half of the country paying no taxes, but being able to vote themselves virtually unlimited benefits there is not controlling the problem.

Our elected represenatives realize they can keep getting elected as long as they give the non tax paying half more programs and benefits.

It's easy to blame the hard working half of the country for being unwilling to pay their fair share of taxes, but all our problems would disappear if the other half just paid THEIR fair share of taxes.

This current crisis only occured because a significant part of those paying taxes became un or under employed creating an acute cut in tax revenues.

Oh how the half not paying taxes scream when their benefits are cut.

Now part of those actually paying taxes are being squeezed as their jobs are being outsourced or their wages being driven down by wold wide competition.

They are working even harder, but being asked to pay even more to support the 50% that doesn't pay any. Naturally they want to shift that burden to the super rich.

The problem is there are so few billionaires that its just mathmatically impossible to have them support everyone else.

If everyone just took care of themselves, we'd be fine.

Medicare and Social Security are the real problems, but those are not fixable.

Unless you "fix" them by limiting benefits via need tests, but then some of that hard working 50% might start complaining about all the money that's been taken out of their income with the promise of a future benefit for them.

Now I understand why the politicians are after our guns.

Gars on January 1, 2011 7:34 PM

Wow, I am impressed by the variety of viewpoints here.

Jeremy on January 1, 2011 8:53 PM

If everyone just took care of themselves, who would take care of the commons- roads, parks, schools, etc. YOU might be fine, but I know people who would die through no fault of their own.
Those of you who think your tax money goes to pay bureaucrats haven't thought too much- most of the tax money goes back to the private sector for goods and services and salaries to your friends and neighbors, maintaining and improving the necessary infrastructure of this country. Government employees aren't getting rich off of your taxes- I know, I'm a teacher. When times are good, I get maybe a 4% raise, when times are bad, maybe 1%, with people like many of you expecting me to balance the budget personally by taking a pay cut or a freeze. Read some history of tax rates, especially starting with Eisenhower. When Reagan took office, the slashing began, and those who engineered his election couldn't be happier. Their goal was to get Americans to hate government so much that they would turn against it and let the corporations run the country. Is that better than your neighbor helping run your community as a "government employee"? The government is US, and until a lot of people realize that we can run the country for the good of the people or let corporations, who the Supreme Court have recently ruled ARE people, run the country for THEIR personal benefit. Do you really think they have your best interests at heart? How about the growing number of hand picked politicians they are bankrolling? It's "you scratch my back, I'll scratch yours", and they have circled their wagons and you are NOT in the circle. I don't have time to get into Social Security and Medicare- they would be fine if the funds were not plundered, if withholding did not have a cap, and there was means-testing so people like John McCain wouldn't collect more SS than my mother, whose only income IS SS.
Think for yourself instead of abdicating that to FOX news. The "liberal media" is a myth. The only source of balanced news (NPR) is under attack. Or try the BBC- it would be interesting to see how the rest of the world sees what is going on here.

Maxine on January 1, 2011 8:54 PM

It was refreshing to see a variety of opinions rather than just one-sided comments. Yes, we need to face reality and deal with our financial problems before it's too late. We Americans don't like discomfort or sacrifice but it's time for us to accept reality and do what must be done. We can do it; we just need to make the commitment without a lot of complaining. It's called "LIFE".

Jeanne on January 1, 2011 9:10 PM

Well, very good. Read the comments and out of the many there is one light; Lou has it exactly right. When labor costs and regulation imposed costs become oppressive, manufacturing looks elsewhere to lower those costs and improve its bottom line. There is no effective downside (with the exception of capital expenditure (which is mostly write-off anyway) to profitability in relocating a plant; regardless if out of state or offshore. There is however, immediate and often irrevocable impact to the local economy whether it village, township, city, county, state, or national; and none of it, with the possible exception of environmental, is good. You simply cannot short-cycle a dollar earned in the service sector by spending it on imported goods thereby feeding offshore economies by multi-cycling your dollar through them and bolstering profits of the multi-national. It simply does not work out for us. Life is insidiously sucked out of our hard good manufacturing middle class economic engine over time until it simply ceases to run starved of fuel and lubrication. The service sector will then become over populated with labor resources and it too will slowly become emaciated as big business takes advantage of the labor glut and does what it is hard wired to do. By and by big money will move completely off-shore since there will be nothing left of the American economic engine and it's marketplace and our once great America will be up for grabs in a global fire sale. You'll be paying your taxes to Beijing or Abu Dhabi and wondering how that happened while you root amongst the jobs left as scraps in our economy to keep family, body and soul together. Ant there won't be a nanny state to save your backside either. You'll finally be wholly on your own to survive----finally.

Roger on January 1, 2011 9:14 PM

I received your Fire Pit email in error. I usually do not make political comments, but I believe governments and the people have been living way beyond their means for a long time. We need to cut way back on spending for a lot of things. We bid up the prices of our homes beyond their actual worth and mortgages. It was greed, not investment, with the cooperation of government and banks who knew what was going on and gambled on speculative securities with our money and lost many fortunes. The banks received hundreds of billions of dollars in government TARP loans, but instead of helping borrowers reconfigure their home loans, the banks invested the money in government bonds to gain big profits on the government money. The banks still have probably 50% or more home loans on bank books for which the home collateral is worth up to 50% or more below the value of home mortgages owed to banks. Local governments are providing way too many services that we can no longer afford. Local government pensions are unbelievably expensive to taxpayers, and the government contributions were often not made and kicked down the road to pay later for pensions that are too high in the first place and sometimes involve corrupt calculations. Social Security and Medicare will go bankrupt unless refunded, but this is also being kicked down the road to solve later. Locally and federally, everything is being kicked down the road to be solved later, while the feds increase debt and the locals borrow from real or bogus reserve funds of one kind or another. No one wants to be responsible, Democrats or Republicans. They both spend and/or borrow more money that we as a nation cannot afford. We may now be coming to the point of no return: bankruptcy and/or hyperinflation.

We need to start writing the people who supposedly represent us.

We need depression babies to show us how to live on a lot less. I learned a lot from my father (born 1910) on how to reuse things and not buy wasteful products. He even subscribed to the Tightwad Gazette and a similar magazine.

Joe on January 1, 2011 9:37 PM

Hey best mistake you ever made...love the blog and your thot's. Thanks for making a great mistake, I will now be reading both of your items...THANK YOU SO MUCH!

Judi on January 1, 2011 11:38 PM

Blame whomever you wish but the real truth is that we as American citizens have been duped by the government. Please read, "The Great American Stickup" by Robert Scheer (currently editor of Truthdigs.org). This book makes it very clear that the Federal Reserve calls the shots and they have since their inception - an idea that Jefferson was totally against particularly the secret groups as was JFK, and many others. People have tried to eliminate the Fed to no avail. These private bankers call the shots and we, the serfs of the world are their victims without even knowing it. We re not free at all.DId President Obama ever rescind the Patriot Act and give our rights back to us as he declared he would? I read he has spent more military money than any other presoident and no one is mentioning the 3 trillion that Rumsfeld told the public about 9-10-2001 (after 9-11 everyone forgot about this or the media did). Please Read this book - understand the Feds - they are bigger criminals than Madoff.
As an aside, I am reading right now Censored 2011" edited by Micket Huff, Peter Phillips, and Project Censored. This essentially covers many important stories that the American Corporate Media does not wish to cover for various reasons. Students at different universities research the news that the main media refuses to cover.
Thanks for your political views -hopefully we will see an end to the greed and unChristian behavior so prevalent in society today - rather depressing!
Best wishes
Amy Brown

Amy Brown on January 2, 2011 4:07 AM

The globalists are OFF SHORE, they have ZERO interest in the fate of America, or anywhere else for that matter. BOTH Goverment AND Large corporations are controlled BY THEM for their benifit. WE are ALL their slaves unless we wake up throw off all this dogmatic nonsence and look to the bill of rights and the founding father's intention; that Government should be very small and the real power lie within the states keeping it as close to the people as possible. Centralised power ALWAYS leads to TYRANNY. Period.

Join the (non partisan)revolution go to:

http://www.prisonplanet.com/
or
http://www.infowars.com/

or one of the 'we are change' sites and pull your G*D D*amn heads out of the sand!

Dale Hampson on January 2, 2011 8:54 AM

Okay, SORRY for the vitriol, but we really MUST kick the 'Creatures' that run this country OUT, and replace them with genuine Human Beings...

dale hampson on January 2, 2011 9:00 AM

65% of americans are super fat. I see a fat pig country ready to go to slaughter.
Best of luck looseing all thet gluttony in the new year

jay harris on January 3, 2011 12:19 PM

The reason the Wealthiest pay the most taxes is due to their immense wealth in comparison to the rest of the Country. Doesn't is seem strange that in the "Richest Country" in the world, the TOP 2% starts @ $200,000.00 year, w/ the richest 400 individuals averaging $345 MILLION per year? Despite the total Tax paid by the Wealthiest, their average EFFECTIVE FEDERAL TAX RATE is 16%. And as an aside, with all the complaints about Corporations having "one of" the highest tax rates in the world - their average EFFECTIVE TAX RATE is 17%.

L J on January 3, 2011 12:28 PM

lmao fushiqi you prove to the world you pycho's are surrounded. I don't understand why you would wanna run out in the streets with your bb guns. When all the real men are inside with their shotgun's. We surround you buddy. We surround you. I hope you live on my street in my area. You can run to my "Socialist's Welcome Here" Sign n get a good live skinning treatment. It'll be fun.

I know the US will not collapse because common sence will overrule stupidity. Globalist thinking will always sound good. But country and individualist system's of economic growth will always be the core cogwheel of any society's rise or fall.
The great thing is common sence always hits us in the last hour of anything. It's a human trait. If we were a deer, we'd stand in front of the blinding lights and horn blairing at us. But we're not. The truck is 20 feet away right now. But at least we're not deer.

Alex G on January 3, 2011 2:08 PM

Lou and I agree on a lot of things but corporation influence vs public employee influence is not one of them. Corporations have a lot of influence but so do public employee unions. This is a fact that does not seem to be mention very often if ever. But then again maybe I am one of those that just does not “get it” like Lou does.

I attach the following article as a counterbalance to Lou’s one on healthcare.

http://city-journal.org/2010/20_2_california-unions.html

I would also like to comment on this 2% figure that I am hearing endlessly lately. I don't think that I can dispute the 2% figure, but I believe that the number needs closer analysis. How does this number relate to longer term history? Is this 2% really heads of corporations or is the hedge fund managers, high frequency trading wiz kids and the derivative manufacturing specialists and the speculators that (in my opinion) make nothing productive and add no productivity to the economy. Is it based on income or wealth? Anyway this 2% number is firmly entrenched and fully ingrained into those that lean left, it makes a very simple talking point that is easy to rally around and it will be around at least until the 2012 elections.

John C on January 4, 2011 11:12 PM
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