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.

Tuesday, July 26, 2011

News from the Daily Reckoning

US federal spending

Fiscal year 2010 (in billions of US dollars)

  • Discretionary $660
  • Other mandatory $416
  • Net interest $197
  • Medicare and Medicaid $793
  • Social Security $701
  • Defense Department $689
TOTAL: $3.456-trillion

Now compare that to...

US tax receipts

Fiscal year 2010 (in billions of US dollars)

  • Social Security/Social insurance $865
  • Corporate income $191
  • Other $140
  • Excise $67
  • Individual income $899
TOTAL: $2.162-trillion

As you can see, there's a bit of a discrepancy there. For every dollar the government spent in 2010, it was only able to steal roughly 62 cents through taxes. The rest came from the kindness of strangers with last names like Wong and Kim. Now, why would a Wong bother lending money to the US, you ask? A better question might be for how long will Wong lend? And what happens when Wong's kindness runs out?

Thus far, the United States has incurred an impressive $14.3 trillion in public debt, "subject to limit," as they say. Put another way, that's about $46K per citizen, or $130K per taxpayer. At current rates, those figures will jump to $22.9 trillion by 2015; $70K per citizen, or almost $190k per taxpayer.

In 2007, for example, that debt stood at about 36% of America's GDP. Today, that same little monster has grown to reach 70% of GDP. All that in four years; one Olympiad! They grow up so quickly, don't they? Even so, that's some pretty gnarly spending, even by politicians' own standards.

And what do these geniuses have to show for all of their greasy- mitted stimulus spending, for their various bailout programs and phony-baloney make-work schemes? What, in other words, does a few trillion dollars worth of other people's money – some stolen, the rest begged and borrowed – buy you these days? More jobs? A rebound in the housing market? A new suit and tie? Any measure of honest, good-for-something growth? A – dare we even say the word – "recovery"?
STOP THE SPENDING NOW CONGRESS!!!!!!!!!

Posted by Enlightened Republic at 6:12 PM