Editorials: not just Politics

The Federal Budget

I have to balance my budget, then why can’t the Federal Government?

Editorial by Arnie Sherr

I cannot count how many times I have heard or read the above statement. Factually, a remarkably large number of American families cannot or choose not to balance their budgets.

Here are some startling statistics that support my assessment that the above statement applies to comparatively few families and individuals.

• Average credit card debt per household with credit card debt: $15,956* 
• 609.8 million Credit Cards held by U.S. consumers. (Source: "The Survey of Consumer Payment Choice," Federal Reserve Bank of Boston, January 2010)
• Average number of credit cards held by cardholders: 3.5, as of yearend 2008 (Source: "The Survey of Consumer Payment Choice," Federal Reserve Bank of Boston, January 2010)
• Average APR on new credit card offer: See current CreditCards.com Weekly Rate Report (the link automatically takes you to the most recent edition of our weekly nationwide survey).
• Average APR on credit card with a balance on it: 12.78 percent, as of November 2011 (Source: Federal Reserve's G.19 report on consumer credit, released January 2012)
• Total U.S. revolving debt (98 percent of which is made up of credit card debt): $801 billion, as of December 2011 (Source: Federal Reserve's G.19 report on consumer credit, released February 2012)
• Total U.S. consumer debt: $2.5 trillion, as of December 2011 (Source: Federal Reserve's G.19 report on consumer credit, released February 2012)
• U.S. credit card 30-day delinquency rate in January 2012: 2.93 percent (Source: Moody's, February 2012 report)

In fact, Meg Handley, of US News.com reports, “Americans racked up $48 billion dollars in new credit card debt in 2011.”

The facts are clear; “how can anyone seriously expect the Fed to balance their budget when they can’t balance their own”

Please try to assimilate the following comparison and note: I am comparing only Credit Card debt. Most families have other debt in mortgages, second and thirds; personal loans, college loans, etc.

CREDIT CARD COMPARISON	HOUSEHOLD	FEDERAL HOUSEHOLD
Average Family Size	2.6 people	311,591,917
Average Family vs. National Debt	$15.956*	$15.6 Trillion (Real-time)

Steadfast Finances reports, on the positive that…

• 24% of American’s are Debt Free. 
• 18% of American’s have Less than $10,000 in debt. 

The Negative Side of America’s Debt

• The Average American Family has total overall debt of $79,000
• 76% of American Families have some debt (the second slide conflicts with the first by 1%)
• 40% of American Families are in debt $50,000 or more

Considering those numbers, is it fair to chastise those we place in office for not balancing a budget that seems out of reality; $50,000 as compared to $15+ Trillion?   

The Federal family is comprised of 311+ million members as compared to an average 2.6 family members. Yet, there are people brazen enough to make that comparison.

FAMILY DEPARTMENTS (AGENCIES)

FEDERAL DEPARTMENTS (AGENCIES)

Dept of Housing Mortgage, utilizes, repairs, pest control, insurances, lawn care, etc. Dept of Food Food, school lunches, entertainment, holiday festivities, etc. Dept of Apparel Clothing, dry cleaning, laundry, alterations, etc Dept of Celebration Birthdays, anniversaries and gifts overall Dept of Education Transportation, tuition, etc Dept of Transportation Auto(s), gasoline, repairs, insurances, etc And more as my come to mind or apply to you.

Approximately 450

Am I suggesting for one minute that the US should not balance the budget? Absolutely, not! What I am suggesting, however, is that expecting that a sitting President to keep that promise without the full and invested cooperation of both houses is preposterous.

Has he the power to veto bills that do not accomplish that which he has promised? Yes, he does, however, most times doing so will close down the Federal Government relegating 1.36 million plus federal employees to unemployment status and stall federal functions that are essential to our national security and stability.

Here is my point. Believing candidate claims such as lowering gasoline prices to $2.50 per gallon, balancing the budget, and other seemingly out-of-reach promises is an extreme display of naivety.

I continue, amazed by the number of Americans that fall victim to such out-of-reach and over-the-top promises.

The definition of political rhetoric is,

“Grandiose and altruistic promises and accusations.”

 

 

 

 

 

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)

Social Security Heals Itself

Editorial by Arnie Sherr – “Fighting for the Middle Class”

Everybody is concerned about “entitlements,” while in reality there is little for which to be concerned. 

The table below, found at  USA.gov, illustrates the evolving ratio of payees into the Social Security Fund against the number of beneficiaries.  

After carefully noticing its changing ratio, I will describe how, without doing away with or modifying Social Security that over time it will revert to the healthy ratio it enjoyed in the first decade of its history, when significantly more paid in than from it benefited.

To explain further, the ratios illustrated are populous calculations; they do not compare the ratios by dollars. Of course, that is where the brouhaha emanates. The amount paid in vs. the amount paid out to beneficiaries has become the issue.

According to expert analysis, when social security began the premise was that what an individual paid in would, when he or she retired, be adequate to supplement their respective retirements. Aside from a growing senior population due to the onset of the baby boomers and the manner in which better healthcare lengthens life expectancy, the Congress had borrowed huge sums of money from the Social Security Fund without paying it back. Another tragedy lies in the fact that the combined political neglect and lack of monetary prudence led the Congress to ignore the benefits of investing the Social Security Fund in wise vehicles of potential growth. Now, as a campaign strategy and desperate attempt to cut the deficit they wish to advantage the harmful affects of their incompetence on the backs of seniors and the poor.    

It is true that within Americas’ entitlements there is huge misuse and fraud. The dollars involved here are staggering. This, another neglectful happenstance at the hands of all three branches has been ignored until it has become so huge that taking steps to stop it might be enough to save our entitlements without penalizing the elderly and the poor. I submit that doing so is an admission of guilt; therefore, they not only avoid the discussion, they act as if they are “holier than thou,” when brought up.    

Here is a conclusion that I have yet to hear mentioned by anyone, not the pundits, the candidates or the White House. They are either ignorant, out-of-touch or deliberately closed mouth about the fact that the actuarial aspects assert that as the on-set of seniors from the WWII era (baby boomers) begins to draw from Social Security, adding to today’s already imbalanced ratio, it shall not be long before that trend begins reversing back to acceptable and manageable ratios. As fast the baby boomers emerge, so to shall they pass-on to a better place. As this occurs and the population increases yielding more Social Security contributors while the high numbers of beneficiaries decrease, the present situation of which, caused not by the payees and beneficiaries, but by the geniuses (??) we elected to manage our money, there is no logical reason to cut Social Security and Medicare. Rather than doing that, concentrating on eliminating the billions or what may soon be trillions in fraud, is a better path to take.            

Ron Paul, Liar, liar, pants on fire!

Editorial by Arnie Sherr December 28, 2011

Although lying is not a laughing matter, laughs always seem to find their way back at the liar.

Ron Paul is now trying to defend documented evidence of racial prejudice. Hey, defend you may, but lying is not defending; it is merely demonstrating weakness Presidents should not carry within their bag of baggage. Nobody is perfect! Neither you nor I, but of it all lying to appear so is a failed strategy. I never had sex with that woman failed for Clinton; I am not a crook failed for Nixon and for Ron Paul, lying about letters signed and newsletters published is his path to inevitable presidential campaign failure.

Do not get me wrong, we have had liar Presidents before and we will have liar Presidents in the future. It is the unfortunate culture of politics.

What I fail to understand is that these political egomaniacs cannot fathom that owning up may just be the catalyst that propels them into the Oval Office.    

Let me tell you why I think Ron Paul remains a bigot.

If he had indeed thought better of his prejudicial perceptions over time, he should as an honest contender have manned-up and owned-up to the accusations. I hate to think that I ever owned the prejudice that Ron Paul is accused of fostering; however, if I was Ron Paul and had sincerely changed my bigoted views, my answer to the allegations would be anything other than lies; lies in the face of such stark and revealing evidence.

Perhaps, my response will be…

Yes, I did sanction those newsletters and I did sign the letter in evidence. Indeed, at that time of my life racial prejudice had engrained within since early childhood. It may be a challenge for most to believe, but over the years, my perceptions have changed because after liberating from the negative influences with which I grew-up, I began to foster a newfound respect for the African American community.

Like many of my years, I witnessed great Americans like Martin Luther King lead his race not merely to great strides but for many to surpass Caucasian milestones. Although the African American community has a long road ahead, I have come to appreciate their tenacity and continuity. Like other American cultures, they have met challenges few Americans have had to overcome and they did it in time spans not met by any other culture throughout the history of humanity.

Was I prejudicing then, yes! Am I now, No! The fact is, I am in awe of a culture that has grown so much in such a short time that one of their own is now the first African American President of the Unites States of America. Although, my competition and I strive to unseat him, we cannot deny how far the African American community has advanced as prideful and loyal Americans.  

The above is an example of how a sincere reformed bigot would declare himself; not with lies, but with a truth. If not as above, then his or her own. 

The reason I believe Ron Paul is as prejudicing today as ever, is that he feels that having been misguided once, labels him forever.  Ron Paul, “The Truth Will Make You Free, but lies will entrap you for eternity.”

MAD DADS of Pinellas County presents Evangelist BEVERLY CRAWFORD Live

 MAD DADS of Pinellas County presents

Evangelist BEVERLY CRAWFORD Live

 

Countryside Christian Ctr

January 20, 2012 at 7:30 p.m.

1850 North McMullen Booth Rd 

Clearwater, Florida 33759

 

General Admission $15.00

Preferred Seating   $25.00

To reserve your seats contact MAD DADS staff at 727.222.7146

Visit www.MADADSPinellas.org

 

Corporate Patriotism – A Myth, to be sure

GE stuck it to the jobless and they didn't even think to use Vaseline

By Arnie Sherr, Contributive writer for Fighting 4 the Middle Class, The Resume Store’s GET-A-JOB Blog - November 26, 2011

Just about everyone asks, “Where are the jobs?” Hey Washington, we are all waiting for an answer. America, do not hold your breath.

The rhetoric from both sides is monolithic; huge, but without substance. The left wants to end the Bush Tax Cuts and the right preaches keeping them alive. Of it all, the reason is the same. Take them away so the monies may contribute to programs that grow employment or keep them giving industry incentive to reinvest into new jobs. Neither position adds to jobs. Every economist and a few vocal CEOs say with confidence, the only thing that grows jobs is demand. Taxes yea or nay have no effect on jobs growth.

1. Demand grows when people have jobs; are paid, buy food, soft goods, hard goods, cars, trucks, gas, homes, rental apartments, books and the list is unending.
2. Demand grows from lowering the prices of goods and commodities creating a spiraling effect that increases demand through added consumer spending.   
3. Jobs grow when American corporations and companies reinvest in America. That is to say, when they sign contracts for products and services outside the US, they must employ Americans to manufacture, ship, install and provide such products and services.

It is apparent GE and most other megacorps and companies have forgotten from where and from whom they have prospered throughout their growth as US companies. Factually, GE is not exclusive in its ruthless acquisition of profits and growth. Ruthless, because having lost sight of who made them what they are, they recently contracted with Iraq to supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s Kurdistan region. And, in the process and at the expense of American jobs, GE leadership brags of helping Iraq's economy by hiring and training Iraqies to do what American workers in need during a struggling economy do better than anyone on earth. In addition, GE has advantaged of tax loopholes to leverage their way out of paying a singe red-cent in taxes for what for them was a banner year. Do I find fault that they advantaged tax loopholes? No, for that I blame Congress. What I blame GE for is the fact that after saving huge revenue it hasn't the wisdom to reinvest their loophole tax-windfall into America by creating new jobs right here in their homeland.

Judge for yourself; below is the evidence. I wonder why so many are confused about why Occupy Wall Street continues. If you have not already, please add this to the list of grievances.

G.E.’s Strategies Let It Avoid Taxes Altogether

By DAVID KOCIENIEWSKI – The New York Times March 24, 2011

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None! In fact, G.E. claimed a tax benefit of $3.2 billion.

GE Wins Erbil Power Plant Contract

Posted on 07 December 2010. Tags: GE, General Electric, Mass Global

GE (NYSE: GE) today announced that it will provide gas turbine technology to Mass Global Investment Company, an independent power producer, to help meet northern Iraq’s growing demand for electricity. Under the agreement, GE will supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s Kurdistan region.

“Our mission is to support Iraq’s overall efforts to continue developing and expanding its energy infrastructure,” said Ahmad Ismail, the chairperson of Mass Global. “We are confident that working with a global technology leader such as GE, with its proven and reliable advanced energy technology, will contribute significantly to helping us fulfill our mission, which is in line with the Kurdistan regional government’s initiative calling for the private sector to help meet the energy requirements in this region.” READ MORE

First GE Day in Erbil highlights region-focused partnerships to drive the growth of Kurdistan

PRESS RELEASE Iraq: Tuesday, November 22 - 2011 at 15:57

[Para 6, 7, 8] "With the opening of our office in Erbil, we are further underlining our commitment to support Kurdistan's onward journey of development by bringing our advanced technologies, promoting localization and transferring advanced skill-sets."

Nabil Habayeb, GE's President & Chief Executive Officer for the Middle East, North Africa and Turkey, said, "GE's advanced technologies are a perfect fit to the developmental requirements of the Kurdistan region, and through our public and private partnerships we have addressed some of the real challenges faced by the Iraqi people – be it power shortage or boosting healthcare standards. We look forward to playing an integral role in supporting the Kurdistan Region's economic expansion."

Habayeb continues, "We are confident that we can further strengthen our public and private sector partnerships in Kurdistan, and help the Government in addressing its development requirements. We will continue to support the local Kurdish workforce and create new job opportunities for them." READ MORE

For more than 15 years, I have written resumes and cover letters for local area Floridians. In all that time, I have met with individuals so downtrodden by their plight and others whose strength is admirable. Of it all, that which troubles me most is the political discourse that by its very nature continues to denigrate confidence among the American people that any semblance of a solution or solutions is in the wings.

For me it is not so much the presence of a solution or solutions, it is the lost hope that a solution is possible. I firmly believe, that Washington in its present makeup is incapable, not just of solutions but of leading this country onward, whatever the challenges of the future. Certainly, not a single entity on earth would hesitate terminating the bunch. Why are they still on the payroll?