The economy is in a slump. People are losing their jobs. How does the state of Vermont respond? By increasing spending, of course.
And taxing you more.
It relies upon $182.89 million in "one-time" federal stimulus funds, and requires $24 million in increased income taxes.
With the likelihood of taxing you even more in the future
Which do you think they will chose? They have proved they can not cut spending. And few, other than the Governor, want to reduce the size of Government.
Of course, the State of Vermont has a bad example being set by the Federal Government. The man who while campaigning for your vote said
But there is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments.
Now, what I’ve done throughout this campaign is to propose a net spending cut.
has instead done this once elected President.
And who is going to pay for that? China? Maybe not.
Reversing its role as the world’s fastest-growing buyer of United States Treasuries and other foreign bonds, the Chinese government actually sold bonds heavily in January and February before resuming purchases in March, according to data released during the weekend by China’s central bank...
China has lent vast sums to the United States — roughly two-thirds of the central bank’s $1.95 trillion in foreign reserves are believed to be in American securities. But the Chinese government now finances a dwindling percentage of new American mortgages and government borrowing.
In the last two months, Premier Wen Jiabao and other Chinese officials have expressed growing nervousness about their country’s huge exposure to America’s financial well-being.
In a recent Pentagon Economic War game, China won
In the end, there was sobering news for the United States – the
savviest economic warrior proved to be China, a growing economic power
that strengthened its position the most over the course of the
war-game.
The United States remained the world’s largest economy but
significantly degraded its standing in a series of financial skirmishes
with Russia, participants said....
China recently shook the value of the dollar in global currency markets
merely by questioning whether the recession put China’s $1 trillion in
U.S. government bond holdings at risk – forcing President Barack Obama
to issue a hasty defense of the dollar.
“This was an example of the changing nature of conflict,” said Paul
Bracken, a professor and expert in private equity at the Yale School of
Management who attended the sessions. “The purpose of the game is not
really to predict the future, but to discover the issues you need to be
thinking about.”
Well, it would seem, that one of the issues is allowing China to mortgage the United States of America while the Administration works on transforming the US from a capitalist economy to a fascist welfare state.
On the backs of the taxpayer who are the ones on the hook for repaying China.
This must stop now.
Tomorrow there will be a Tax Day Tea Party to protest what is being done to the economic life of this country.
And Vermont will host two, one in Montpelier and one in Rutland.
The Vermont State Legislators should not fool themselves into thinkin that this is just about the folks in Washington, it's also about them.
And do not think that it is a Party thing.
In 2006, people threw Republicans out of Congress because they could not get their own spending act together. And in 2008, when Obama promised fiscal disciple, people believed him.
People have not changed in wanting less government, less taxes, and more free trade.
People have tried Republicans and they were bad.
Then they tried Democrats and they were worse.
Now they will try mass protests in the streets.
You'd better listen.
