Genesis of the "NO" Logo
In history there have been two basic forms of social organization: collectivism and individualism. In the 20th and 21st century, collective variations have included socialism, fascism, Nazism, and communism. Under collectivism, a ruling class of “intellectuals”, bureaucrats, politicians and/or social planners decides what people want or what is “good” for society and then uses the coercive power of the State to regulate, tax and redistribute wealth in an attempt to achieve their desired objectives. Individualism is a political and social philosophy that emphasizes individual liberty, belief in the primary importance of the individual and in the virtues of self-reliance and personal independence and responsibility. It embraces opposition to controls over the individual when exercised by the state. The Preamble to our Constitution makes it plain that all power rests originally with the people, as individuals.
The “O” within the circle represents collectivism in its various forms. The “N” represents an emphatic repudiation of collectivism. The red, white and blue circles encompassing the “NO” are emblematic of our Republic. It is the responsibility of the individuals in an engaged and enlightened republic to limit the influence of the government, especially one that attempts to wield power outside the boundaries delineated by the Constitution.
Greece’s debt-to-GDP ratio is 143%. America’s is officially 97%. But the $14.3 trillion national debt, stacked up against a $14.7 trillion economy, doesn’t tell the whole story.
- $14.3 trillion: “Official” national debt
- $5 trillion: Amount Uncle Sam is on the hook for Fannie Mae and Freddie Mac
- $62 trillion: Total liabilities and unfunded obligations for Social Security and Medicare
That’s more than $81 trillion... or a debt-to-GDP ratio of 553%.
We know how much the Federal Reserve doled out in emergency loans: $16.1 trillion between Dec. 1, 2007, and July 21, 2010. We know that because yesterday the Government Accountability Office completed its first-ever audit of the Fed, made possible largely through the persistence of Rep. Ron Paul making that audit, however incomplete, the law.
What we don’t know is how much of that has been paid back. “We have literally injected about $5.3 trillion,” said Dr. Paul last week during his questioning of Fed chief Ben Bernanke, “and I don’t think we got very much for it. The national debt went up $5.1 trillion.”
Bernanke did not challenge those figures.
