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Another TRUTH Tellers Steps Forward on the Deficit and Debt That the American Republic Is Now Facing….This Time Lawrence Lindsay in an Op-Ed in the Wall Street Journal – Yes, the $2 Trillion In “Cuts” Over the Next Decade The Democrats and Republicans Are Negotiating Is Trivial Indeed When Compared To the Trillions In Debt That Is Slated To Be Added to the National Debt Over the Same Time Period – Sigh….The Fantasyland That Is Modern Day Washington DC Continues – We Have Seen What the People of Greece Are Doing When the Greek Government Took Their Fantasyland Punch Bowl Away – The American People Are Nothing Like the Candy Ass Greeks….So What Will Happen In America When an “Elected Leader” Starts Telling the American People The TRUTH About What OUR Country Is Facing and the Things That Will Have To Be Done To Save OUR Nation From Ruin? – Damn Good Question

We are not quite sure when the fantasy started that the American Republic and OUR “Elected Leaders” could promise all kinds of governments services and then send the bill for those services to future generations of Americans that are often not born yet, but the deficits and debt that have been piled up on those future generations of Americans in recent years are not only immoral….in many ways they are evil.

Lawrence Lindsay is out with an op-ed in the Wall Street Journal today (With Lindsay being one of the very few Truth Tellers around Washington DC these days) that lays out the very ugly truth about the deficits and debt that are now facing America…..

The Deficit Is Worse Than We Think

….and Lindsay’s op-ed makes the “negotiations” between the Democrats and Republicans over debt reduction of around $2 Trillion Dollars over the next decade look very trivial indeed.

From Lindsay’s WSJ op-ed:

“Washington is struggling to make a deal that will couple an increase in the debt ceiling with a long-term reduction in spending. There is no reason for the players to make their task seem even more Herculean than it already is. But we should be prepared for upward revisions in official deficit projections in the years ahead—even if a deal is struck. There are at least three major reasons for concern.

First, a normalization of interest rates would upend any budgetary deal if and when one should occur. At present, the average cost of Treasury borrowing is 2.5%. The average over the last two decades was 5.7%. Should we ramp up to the higher number, annual interest expenses would be roughly $420 billion higher in 2014 and $700 billion higher in 2020.

The 10-year rise in interest expense would be $4.9 trillion higher under “normalized” rates than under the current cost of borrowing. Compare that to the $2 trillion estimate of what the current talks about long-term deficit reduction may produce, and it becomes obvious that the gains from the current deficit-reduction efforts could be wiped out by normalization in the bond market.”

Yes, the above reality about “normal” US bond interest rates does make that $2 Trillion Dollars in deficit reduction the Democrats and Republicans look like nothing at all, but Lindsay is just getting warmed-up as he also points out that both the assumed economic growth rates that the Washington DC Wackos are assuming are way too positive and will cost the US Government another $4 Trillion Dollars in tax revenues in the coming decade.

Add to the $5 Trillion Dollars because of “normalized” bond interest rates and $4 Trillion Dollars lost from Bogus economic growth rates the growth in the cost of government healthcare in the coming years of another $700 Billion Dollars or so and Lindsay points out that the US Government is over-estimating around $10 Trillion Dollars over the next decade in tax revenues and that is on top of the projected $8 Trillion Dollars in deficit spending over the next 10 years!

Add it all up and the United States of America’s National Debt is slated to clock in at….

$30 Trillion Dollars or so by 2022!

…and if there is anyone on Planet Earth that thinks the American People even with all of their hard-work can support the debt service on $32 Trillion Dollars and fund things like National Defense, Medicare, Social Security and the rest of the US Government then that is someone that lives in an Absolute Fantasyland which is an accurate term since that is where members of both political parties in Washington DC are living right now!

Here are the FACTS about what America is facing in the upcoming fiscal year, 2012, which begins on October 1, 2011 and runs until September 30, 2013:

Total Spending – $3.8 Trillion Dollars

Total Revenues – $2.7 Trillion Dollars

Federal Deficit – $1.2 Trillion Dollars

What the Hell?

2012 will be the THIRD straight year that the United States of America will be running a $1 Trillion Dollar annual deficit which would have been an outrageous amount of deficit spending only a few years ago when the Democrats and Republicans were spending like drunken sailors with someone else’s money during the George W. Bush Presidency.

Here were the US Federal Deficits in the mid to late-2000s (From US Government Spending):

2005 – 320 Billion Dollars
2006 – 248 Billion Dollars
2007 – 161 Billion Dollars
2008 – 457 Billion Dollars
2009 – 1.4 Trillion Dollars
2010 – 1.2 Trillion Dollars
2011 – $1.5 Trillion Dollars (estimated)

What the Hell?

The United States of America was running annual budget deficits in the Hundreds of Billions of Dollars in the mid-2000s under the irresponsible Republicans and George W. “Can’t find my veto pen so just let’s just run  up lots of debt on the backs of future generations of Americans” Bush, but now these Bastards in Washington DC have put US Government spending into overdrive and are spending money hand over fist with little concern about anything but getting their precious asses re-elected to office!

As always, look to the FACTS, and the FACTS will tell the American People why the US Government is running Massive Annual Trillion Dollar Plus Deficits right now and as usual in Washington DC it is…

The Spending Stupid!

Here is what the US Government has spent annually since the mid-2000s:

2005 – 2.4 Trillion Dollars
2006 – 2.6 Trillion Dollars
2007 – 2.7 Trillion Dollars
2008 – 2.9 Trillion Dollars
2009 – 3.5 Trillion Dollars
2010 – 3.6 Trillion Dollars
2011 – 3.8 Trillion Dollars

What the Hell?

Why is the US Government running 1 Trillion Dollar annual deficits right now and is projected to do so for years to come?

It’s the Spending STUPID!

Hell, the spending that these Bastards in both political parties are doing in Washington DC right now make the irresponsible Bastards in the mid-2000s look like they had at least some common sense, but the explosion of spending by the Federal Government over the last few years is just outrageous and any of OUR “Elected Leaders” talking about cutting just $2 Trillion Dollars in government spending over the next decade is nothing more than tossing a pebble into a huge ocean!

Well, the good news for OUR “Elected Leaders” in Washington DC right now if that as they nibble around the edges of the biggest problems facing the American Republic is that they will go down in history as very important players on the world stage because they will be remembered as the Destroyers of America and since most of these folks in Washington DC are desperate to make a name for themselves at least the moniker of the “Destroyers of the American Republic” is better than nothing!

Just wait until America elects someone that will actually tell the American People the TRUTH about the current fiscal situation facing the country right now and in the future, because it is going to be a Damn interesting time to live in America when the American People are actually told the FACTS of just what OUR country is facing and both the amount of cuts that will have to be made to US Government spending and the new taxes that will have to be put in place and/or sweetheart tax deals and deductions will have to be cut.

Yes, it is going to be Damn interesting to see how the American People react when they are told the TRUTH because the American People are not like the Candy Ass Greeks that are now rioting in the streets as the Greek politicians begin to take away the punch bowl from the People of Greece that should have never been brought to the party in the first place.

Yes, what the Hell will happen when the Fantasyland Punch Bowl is taken away from the American People that are the descendents of revolutionaries and are the People that have helped give Freedom and Liberty not only to themselves and THEIR country but to countless Billions of people around the world?

Damn good question.

Why Is the Economic Recovery In America So Weak? – The Wall Street Journal Editorial Page Has A Very Good Explanation – Fed Chairman Bernanke and the Federal Reserve Are Just Following Bad Monetary Policy and Foolish Money Printing With More Bad Monetary Policy and More Foolish Money Printing and Destroying Millions of Americans and Their Families in the Process – Hell, These Bastards May Just Crank Up Another QE3 and Continue Their Attack On Hard-Working Poor and Middle Class Americans As They Continue To Enrich The Wealthy In America – Who In The Hell Put These Bastards In Charge of the US Economy Anyway Because By Any Measure The Fed Has Been A Dismal Failure Over the Past Two Decades and Has Made Life For Most Americans WORSE….Not Better! – No, We Still Can’t Eat IPads!….But We Must Buy Gasoline and Eat Food!

There is a very good reason that many of our fathers started encouraging us to invest in and follow publicly-traded companies (stocks or equities) in our early years and our fathers also impressed on us the importance of reading widely and that one of the newspapers in America that we should make a part of our daily life was the Wall Street Journal.

Through our high schools and college years we would read the Wall Street Journal with fascination as we learned about the financial world that existed far from the classrooms of our youth and generally over the past several decades we have found the WSJ to be a reliable source for hard news and its editorial page a strong advocate of free markets and capitalism (although far too often for our taste a defender of the socialism and bailouts that have come to define modern day Wall Street).

On the Friday Wall Street Journal editorial page there is a very nice summary of why Americans are not feeling any kind of economic recovery:

Of Wealth and Incomes:  Why Americans are so unhappy with this economic recovery

“Then this week Mr. Bernanke was asked why the economy was lagging.” We don’t have a precise read on why this slower pace of growth is persisting,” he said, in a rare and revealing case of modesty. Maybe we can shed a little light, and in a way that also explains why so many Americans feel so unhappy about this economic recovery.

Mr. Bernanke was right about stock prices, which as the nearby chart shows (via the S&P 500) began a steady climb following the chairman’s QE2 announcement at Jackson Hole at the end of last August. Mr. Bernanke was attempting to promote what economists call “wealth effects,” or an increase in spending that accompanies an increase in perceived wealth. Watching their assets rise in value, the argument goes, Americans will consume and invest more.

At least until the recent market correction, this part of Mr. Bernanke’s strategy seemed to be going well. If you owned stocks, you had reason to feel better about the economy and your own financial circumstances.

The problem is that monetary policy is not a laser-guided missile. The Fed can create new dollars, but it can’t determine where those dollars will flow in a global economy that still runs mostly on a dollar standard. And with QE2 piling on near-zero rates, dollars flooded into assets other than stocks. In particular, they flowed into emerging markets like China and Brazil and into commodities nearly across the board. The nearby chart also shows the trend in oil prices as one example of the commodity price move.

One result has been a sharp increase in food and energy prices that took gasoline up to $4 a gallon. These have produced what economists call “income effects,” or a change in consumption resulting from a change in real income. People who pay $4 for gasoline, or $30 more for groceries, have less money to spend on other goods. They also tend to feel poorer, which can influence their overall confidence in the economy.”

Well written WSJ and since we here at Mad As Hell And… live in the Real World as opposed to most people in Washington DC and especially someone like Fed chairman Ben Bernanke we know for a FACT that higher commodity prices on things like gasoline and food are having a major impact on the lives of the vast majority of Americans and it doesn’t take a rocket scientist to figure out that all of the money printing by Bernanke and his buddies at the Fed was the direct cause of the fall of the US Dollar which directly caused commodity prices on things like gasoline and food to go up over the past year.

As Joe Friday used to say:  “Just the facts ma’am.”

The Federal Reserve first started talking about doing more “stimulus” with “stimulus” being nothing more than a word meaning buying up US Treasury bond debt in order to get more money into the hands of the Wall Street Bastards to run their gambling casinos in the summer of 2010 and since then until the Fed signaled in April that QE2 (Quantitative Easing 2 otherwise known as MONEY PRINTING!) was coming to and the US Dollar has been in freefall:

US Dollar – USD (finviz.com)

Note in the above chart that since Bernanke and the Federal Reserve signaled in April that they were going to end their QE2 program (MONEY PRINTING!) in late June the US Dollar has stabilized between 73.50 and 76.20 and the stabilization of the US Dollar has cause a decline in the price of Crude Oil:

Crude Oil – (finviz.com)

Do you see the direct correlation between the Federal Reserve’s QE2 program (MONEY PRINTING) and the decline of the US Dollar and the rise of price of Crude Oil over the past year?  Of course you do, but then you are an American with a lick of Common Sense something that is in very short supply at the Fed and in Washington DC these days.

Also note when looking at the above two charts of the US Dollar and Crude Oil the other direct correlation of QE2 coming to and end (MONEY PRINTING!) and the strengthening of the US Dollar in early May and decline of the price of Crude Oil over the same DAMN time period!

Please, anyone that tries to convince you that the Federal Reserve and all of its MONEY PRINTING isn’t directly responsible for the dramatic rise in the price of Crude Oil and other commodities over the past year is someone lying to you and or a very ignorant person, but then lying to the American People is the defacto official policy of most people in Government because if they ever told the truth to the American People of what they have been up to over the years there would be Federal Grand Juries made up of Americans indicting these folks by the hundreds.

Now, just to really drive home the point that the Federal Reserve’s QE2 (MONEY PRINTING) was responsible for the decline in the value of the US Dollar which was the direct cause of increasing commodity prices for things like gasoline and food items to go up let’s go again to the Joe Friday “FACTS!”

Let’s take another look at the US Dollar chart (finviz.com)

Now let’s just look at the prices of some other commodities that have gone straight up and in direct response to the Fed’s money printing and devaluation of the US Dollar over the past year and also note in the below commodity price charts how prices have stabilized since early May since the Fed has signaled and end to their MONEY PRINTING and the US Dollar has stabilized:

Corn (finviz.com)

Soybeans (finviz.com)

Wheat (finviz.com)

Cotton (finviz.com)

Coffee (finviz.com)

Rice (finviz.com)

Are you starting to get the FACTS about the Federal Reserve’s MONEY PRINTING and how the Fed has dramatically and negatively impacted the lives of the vast majority of Americans by driving up the prices of things like gasoline and food items by their fantasy that printing up lots of money will make all of us richer but actually has made the vast majority of Americans poorer?

Good.  Now you understand the basic stupidity of people that are in high positions of power in YOUR government.

Now let’s go back to the Wall Street Journal’s editorial referenced above and the FACTS about what the Fed and the Wacko Liberal Nut economists on the left have done to hard-working and poor Americans:

“One big difference is who feels these effects. The wealth effects have helped everyone but especially the affluent. The income effects have been felt most acutely by the poor and middle classes for whom food and energy are a much higher proportion of income. QE2 and near-zero interest rates have been a boon for bankers and hedge funds. They haven’t been so great for suburban families who commute to work and haul their kids to football and music practice. The monetary policy so favored by liberal economists and the White House has actively favored the wealthy over the middle class.”

Now isn’t that ironic?  The Wacko Liberals that have promoted the Federal Reserve’s MONEY PRINTING that say they want to help hard-working Americans have actually only helped the Super Wealthy and have made the lives of the majority of Americans….WORSE!

Stop the Madness!

It really does take Very Stupid People to argue that a “deflationary” environment (when prices of things are staying the same, going down or are expected to go down in the future) would be a bad thing for America as Ben Bernanke and his buddies at the Federal Reserve do on a regular basis to justify all of their MONEY PRINTING when there are lots of people at the Fed that simultaneously celebrate things like the prices of IPads going down as the New York Fed president did earlier this year and learned very quickly from hard-working Americans that one cannot “eat an IPad!”  (Former Goldmanite And Head Of New York Fed Bill Dudley: “Let Them Eat iPad” – ZeroHedge.com)

It is Sheer Idiocy for anyone in the US Government or at the Federal Reserve to actually want the prices of things that Americans MUST buy on a daily basis like gasoline and food to go up in price while at the same time those very same Damn idiots are extolling the virtues of prices of things that Americans DO NOT have to buy to survive, like IPads, going down in price!

Stop the Damn Madness!

To understand just how out-of-touch Ben Bernanke and mainstream economists are from about 99 percent of American citizens check-out the below answer to a question from Bernanke’s June 22 press conference earlier this week:  (Fed Transcript of Bernanke Press Conference – pdf)

“Chairman Bernanke: Well, I’m a little bit more sympathetic to central bankers now than I was ten years ago. I think it’s very important to understand that in my comments, both in my comment in the published comment a decade ago as well as in my speech in 2002 about deflation, my main point was that a determined central bank can always do something about deflation. After all, inflation is a monetary phenomenon, a central bank can always create money, so on. I also argued — and I think it’s well understood that deflation, persistent deflation can be a very debilitating factor in — in growth and employment in an economy. So we acted on that advice here in the United States, as I just described, in August, September of last year. We could infer from, say, TIPS prices and inflation index bond prices, that investors saw something on the order of one-third chance of outright deflation going forward. So there was a significant risk there. The securities purchases that we did were intended in part to end that risk of deflation. And I think it’s widely agreed that we succeeded in ending that deflation risk. I think also that our policies were constructive on the employment side. This, I realize, is a bit more controversial. But we did take actions as needed, even though we were to zero lower bound of interest rates, to address deflation. So that was the thrust of my remarks ten years ago. And we’ve been consistent with that — with that approach.”

There is so much wrong with the above comments by Ben Bernanke that it would take a team of psychiatrists in Vienna to analyze his gibberish, but to boil down the essential elements that are floating around in the brain of Bernanke it seems we have the following:

1. Deflation or prices staying the same or going down is BAD

2. Inflation or prices going up is GOOD

3. Very low interest rates, like setting the Fed Funds rate at .25 helps to fight deflation (prices staying the same or going down – BAD) and helps to cause inflation (prices going up – GOOD).

If the above is true then here is what the Federal Reserve has accomplished by keeping interest rates at Very Low Rates for an extended period of time and that the say will be Very Low for an extended period of time into the future.

1. The value of the US Dollar has declined dramatically with all of the Fed’s MONEY PRINTING

2. Commodity prices and thus the prices for what hard-working Americans MUST buy in their everyday lives have gone up dramatically since the Fed ramped-up its MONEY PRINTING (Yes, anyone that actually believes the US Government’s inflation data is a Real Moron and that includes everyone at the Fed that doesn’t understand that the US Government’s inflation numbers are Bogus)

3. Housing prices have continued to go down over the past year as the Fed has done its MONEY PRINTING and kept interest rates Very Low, but Bernanke and the Fed claim that their actions actually fight deflation and thus house prices should be going up…..right?

What the Hell?

Here is what Ben Bernanke and his friends at the Federal Reserve do not understand and could not possibly understand since they have not worked a day of their adult lives in the Real World (OK, a few of them might have worked at McDonald’s while in high school, but for most of these “economists” that entered college at 18 they have been on a college campus or working on the gov’t payroll their entire lives and thus DO NOT HAVE A CLUE to how the Real World works!):

The Federal Reserve keeping interest rates Very Low for extended periods of time forces rational consumers to wait before making big purchases like buying a new house, new car or other large ticket items that must be financed and thus are interest rate sensitive and keeping interest rates very low will just extend the decisions on those big ticket items further out into the future.  Well…..DUH!

For other things that Americans must buy in their everyday lives, like gasoline, food, clothing, etc., Very Low interest rates by the Federal Reserve and all of its MONEY PRINTING to take on “deflation” just drives up the cost of things that Americans MUST purchase and thus decreases the buying power of average folks and thus that is one of the primary drivers of the slow economy.

Instead of relying on BS research and debates in the faculty lounge Ben Bernanke could learn a whole Damn lot about how the Real World works by getting out of his limo and talking to Real Americans about the prices of things they MUST buy in their everyday lives and even more importantly how they think about purchasing big ticket items like homes, cars and appliances and how they rationally act when they see the Federal Reserve holding interest rates down to Very Low levels……they don’t act Ben….and that is something only someone living in the Real World could possibly understand!

The Federal Reserve is planning on keeping the Fed Funds rate at Very Low levels for an “extended period of time” which will do nothing more than extend the slow recovery even longer than it has to be because there is now nothing encouraging Americans to “do something, to act” on big ticket items.  On the business side, what makes the Fed’s Very Low interest rate policy really stupid is that most small and medium-sized businesses cannot access capital at interest rates anywhere near the Prime Interest Rate (which is 3.5% right now and is directly affected by the Fed Funs Rate) so the Federal
Reserve raising Fed Funds Rate would have little impact on the vast majority of businesses in America, but a higher Fed Funds Rate would have a dramatic and positive impact on consumers that would begin to “move and act” in the economy and it would discourage lots of the gambling on Wall Street by the “banks” which is actually encouraged and championed by the Fed by keeping interest rates so low.

Let’s just hope that the Real Men and Women of Genius at the Federal Reserve don’t think they will have to start up QE3 or some more of their MONEY PRINTING in the coming months, because if they do they will again crush the value of the US Dollar which will set-off another round of rising commodity prices for things that Americans MUST buy in their everyday lives and crush what is already a very anemic recovery that has been caused and extended by more irresponsible monetary policy at the Federal Reserve!

Of course anymore we almost expect anything out of the Bozos at the Fed, because over the past two decades the Federal Reserve has been the singular biggest destroyer of American families and communities in our country by their irresponsible monetary policy and very loose regulation of the Wall Street casinos (no, those are not banks on Wall Street and haven’t been banks since Glass-Steagall was repealed in the late 1990s) and thus one should never underestimate the stupidity of Wacko Liberal Nuts and academic Candy Asses to do things that they think “helps” average folks but actually makes their lives more difficult, more miserable and makes it harder in our country to raise a family, keep food on the table and a roof over their heads.

Bastards…no make that Very Stupid Bastards that wouldn’t know an Honest Day’s Work if it him them in the Ass!

We Respect John McCain….But John McCain Is Wrong About America’s Never-Ending Wars Around the World AND That Americans That Disagree With Him Are “Isolationists” – That Is Bullshit John – It Is Past Time That America Should Start Drawing Down U.S. Troops In Afghanistan (and Iraq) and Bravo To President Obama To Begin the Process of Bringing OUR Soldiers Home – No One in the World, Terrorists or Not, Should Now Think That the American People Being War Weary About Afghanistan and Iraq Would Somehow Not Expect A Lethal Response If Any Country or Organization Attacks OUR Country in the Future – The American People Are More Than Willing and Want To Live at Peace With the People of the World….But We Will Not Tolerate Any Country Harboring Terrorists That Will Conduct Attacks On America

We respect John McCain here at Mad As Hell And… not only because of the sacrifices he made during his military career in Vietnam, but also because we have met John a number of times over the years at Republican Party events and Senator McCain is a straight shooter that gives on his opinion with the bark on and that is something that is rare in public life in America today.

With that being said John McCain’s recent comments criticizing Republicans that are not wanting to continue what now looks like to us never-ending wars as being “isolationists” is outrageous on its face and puts up the Bogus argument that somehow those of us that think 10 years in Afghanistan and Iraq is enough are somehow not loyal Americans and are thus retreating from the world stage.

There is a word for John McCain’s attitude that Republicans that don’t agree with him on Iraq and Afghanistan are then isolationists:

Bullshit!

The United States of America has been at war in Afghanistan since October 2001 and it is long past time that American leadership started to bring OUR troops home and we believe that if most Americans realized how many troops we now had in Afghanistan they would be clamoring even more to bring this pursuit of and to kill Al Qaeda to nation-building in Afghanistan to an end.

Check out this story from David Boaz at the Cato Institute on the amount of troops that the U.S. now has in Afghanistan and how our troop numbers have increased since President Obama took office:

The Incredible Expanding Afghan War

“This simple chart dramatizes something that I don’t think most Americans realize: the tripling of U.S. troops in Afghanistan by President Obama.”

That is an amazing chart showing the increase of U.S troops under Obama and to us it really drives home the point that it is time to bring OUR soldiers home and move to a strategy that emphasizes staying fully engaged in the Middle East region against potential terrorist organizations by the use of intelligence and U.S. special forces instead of having tens of thousands of soldiers on the ground doing nation-building in countries that are 1,000 or more years behind Civilization.

With the reality of Afghanistan in mind we really can’t find any fault in President Obama’s decision to begin a draw-down of U.S. troops from Afghanistan and we only wish it was possible to bring OUR soldiers home even quicker, but since several of us spent a portion of our time in the U.S. military in the Middle East, including Operation Desert Storm in 1991, we know fully that one does not remove 100,000 troops from a country overnight and the removal of 33,000 troops a year seems about right to us.

Glenn Thrush at Politico.com sums up the thinking of President Obama on Afghanistan in a news piece this morning:

President Obama’s Afghanistan speech reveals war that no longer seems so smart

“If Afghanistan doesn’t fit President Barack Obama’s definition of a “dumb war” – his famous description of the conflict in Iraq — he’s no longer entirely confident it’s still a smart war worth blood, treasure or his own political capital.

In a primetime address Wednesday night announcing the withdrawal of 33,000 U.S.troops in the next year, Obama trumpeted the fulfillment of two goals first articulated nine years in the same Chicago speech in which he defined George W. Bush’s intervention in Iraq — killing Osama bin Laden and denying a safe haven to al Qaeda.

One additional achievement unmentioned in the 14-minute address: The role Obama’s Afghan surge played in bolstering his national security credentials at a time when Republicans portrayed him as just another weak Democratic president lacking the guts to wage war for a just cause.

But that just cause, in Obama’s view, is no longer reason enough for what had essentially become an open-ended U.S. commitment. So the president has opted for a faster-than-expected withdrawal timetable against the advice of senior military advisers, including Gen. David Petraeus.

“These long wars must come to a responsible end [and] we must learn from their lessons,” said Obama, articulating a more surgical approach to U.S. military intervention than he was able to describe during a speech on Libya earlier this year.

History will tell if the speech Wednesday night was a form of capitulation, a well-earned victory lap or combination of both.

Obama’s “dumb” vs. “smart” war meme, first outlined in his October, 2002 speech as an unknown state senator, didn’t seem to be far from his thoughts. Now as then, he made the argument for extricating the country from an unpopular war without losing political face — or bitterly-won gains against al Qaeda.

“We must chart a more centered course,” he said after announcing that 10,000 troops would be pulled out of Afghanistan by year’s end.”

The above reasoning on drawing down U.S. troops by President Obama seems very reasonable and sensible to us and from the latest polls the American People in large majorities seem to agree and if there is one thing we always respect it is the opinion and basic common sense of the American People and it seems President Obama respect their common sense as well.

What does the future hold for Afghanistan with U.S. troops now on the way out?

Hopefully, Afghanistan can become an independent nation that can learn a thing or two from the experiences of the United States of America spending ten plus years in their country doing things like building schools, roads and infrastructure while at the same time OUR country was spending Billions of Dollars and most importantly sacrificing American lives in hopes that all of the above would bring some stability to the region while at the same time we tried to kill the evil doers that have dominated the country in recent years.

Yes, hopefully the Afghanis can continue the hard work of OUR American soldiers, government workers and diplomats, but the Afghanis should also be aware that in the coming years U.S. intelligence and American. armed and special forces will be watching very closely to see if any bad actors that could threaten the interests of the United States of America or our allies around the world and in the Middle East region.  If those bad actors do show up again in Afghanistan (or any country on Planet Earth) then Afghanis should understand completely and expect that the U.S. will react with lethal force to remove those bad actors from the face of the Earth, because the United States of America is not going to tolerate Afghanistan or any country in the world being a staging ground to launch attacks on our country.

While we have everyone’s ear on Afghanistan we would just like to send a message from the American People about ANYONE out there that is pondering future terrorist attacks on the United States of America.

To say that the American People are war weary after 10 years in Afghanistan and 8 years in Iraq is the understatement of the year, but no one anywhere on Planet Earth should think that the American People will tolerate further attacks on OUR country nor allow any current or future U.S. presidents to conduct major land wars against countries that were not involved in attacking the United States of America.  No, in the future the American People will expect their Presidents of either political party to respond to attacks on OUR country against the Bastards that actually planned and carried out the attacks and in the future any country that allows terrorists to plan attacks from their territory should expect a full, powerful and lethal attack with an unrelenting focus on the perpetrators of the attack on OUR country.

The American People are not interested in conducting never-ending wars in any country and We are more than happy to live peacefully with the nations of the world and to work together to make OUR planet as economically successful as possible for the most people as possible and we here at Mad As Hell And… want to obviously see the United States of America prosper, but also the nations of the world prosper as well and if there is anything that the last 100 years has taught us it is that a world at war is no way to build a strong and vibrant world economy.

Bravo to President Obama for his move to begin the process of bringing American troops home and now it is up to the U.S. military to take their new orders in Afghanistan like real Americans and do their best to wind down operations in the country while they make it very clear to the Afghanis that they better step-up and take responsibility for their country and its future because the U.S. and the American People are just no longer willing to shoulder that burden or them.

Billions of Dollars Go Missing In Iraq and the New York Fed Will Not Cooperate With US Government Investigators To Found Out How Much Money They Sent To Iraq? – Where the Hell Is the US Justice Department? – Oh, That’s Right…They Are Dreaming Up Ways To Send High-Powered Weapons to Mexican Drug-Cartels So That the American People Will Be In Greater Danger! – The Federal Reserve Is Not Above US Law and It is Far Past Time for the US Justice Department To Open An Entire New Division That Will Investigate the Operations of the Federal Reserve On An Ongoing Basis Because These Fed Bastards Are Out-Of-Control and They Have Done Great Damage to the American Economy and American People

Instead of the US Justice Department authorizing programs to get high-powered weapons into the hands of Mexican drug-cartels an entire new branch of the Justice Department needs to be formed to investigate the operations of the Federal Reserve to find out just what the Hell these Bastards have been up to over the past few decades.

The Hundreds of Billions if not Trillions in “loans” to European banks is one thing (and outrageous also!), but now the New York Fed is refusing to cooperate with US Government investigators on how much money it sent to Iraq after that Coward and Lead Dumbbell George W. Bush overthrew that two-bit dictator Saddam Hussein while spending $1 Trillion Dollars of OUR money in the process!

What the Hell?

Check out the below two stories about the out-of-control New York Fed that needs to be brought under control by OUR Government:

New York Federal Reserve mum on missing Iraq billions, Politico.com

“The Federal Reserve Bank of New York is refusing to tell U.S. government investigators how much money it sent to Iraq during the first years of the American invasion, as a top Iraqi official suggested the missing and possibly stolen funds from that era is more than $18 billion – nearly three times the previously reported figure.

CNBC reported Tuesday that the New York Fed won’t reveal to the special inspector general for Iraq reconstruction how much money went to the Middle Eastern nation, hampering an investigation seeking to determine how much of the cash was stolen.

And Iraqi parliament speaker Osama al-Nujafi told al-Jazeera Monday that the missing U.S. funds totals $18.7 billion.

“Iraq’s development fund has lost around $18 billion of Iraqi money in these operations – their location is unknown,” al-Nujafi said. “Also missing are the documents of expenditure. I think it will be discussed soon. There should be an answer to where has Iraqi money gone.”

Last week, a congressional auditor estimated $6.6 billion of Bush-era reconstruction funds were stolen, suggesting “the largest theft of funds in national history.””

What the Hell?

Now read the same story from ZeroHedge.com:

New York Fed Refuses To Disclose Data On “The Largest Theft Of Funds In National History” Which Could Be Three Times Larger Than Expected, ZeroHedge.com

“A week ago we reported on the case of the “The Largest Theft Of Funds In National History” or the missing $6.6 billion in Iraq war reconstruction funding, which was literally composed of “shrink-wrapped bricks of $100 bills”, which was part of a $20 billion total in “Marshall Plan” investment meant to stimulate the post-war economy. When discussing this so far undisclosed cash loss, “Stuart Bowen, special inspector general for Iraq reconstruction, an office created by Congress, said the missing $6.6 billion may be “the largest theft of funds in national history.” Two new developments have emerged in this fascinating story. The first, as CNBCs Eamon Javers reports is that “The New York Fed is refusing to tell investigators how many billions of dollars it shipped to Iraq during the early days of the US invasion there.” Javers adds: “The Fed’s lack of disclosure is making it difficult for the inspector general to follow the paper trail of billions of dollars that went missing in the chaotic rush to finance the Iraq occupation, and to determine how much of that money was stolen.” Well, for what it’s worth, we may have an estimate of this largest war theft ever: talking to Al Jazeera, “Osama al-Nujaifi, the Iraqi parliament speaker, has told Al Jazeera that the amount of Iraqi money unaccounted for by the US is $18.7bn – three times more than the reported $6.6bn.””

Is America turning into some kind of Banana Republic where the US Government is subservient to a Bunch of Absolute Morons at the Federal Reserve or is the US Justice Department going to start working for the American People and get to the bottom of just where in the Hell this $18 Billion Dollars went?

Maybe there are people in America that do not want anyone to know where that $18 BILLION DOLLARS went because it is in Swiss bank accounts of American citizens instead of being spent on rebuilding Iraq.

Yes, that may just answer the question of why the US Justice Department is sending high-powered weapons to Mexican drug-cartels while Billions of Dollars have gone missing in Iraq.

If we were running the US Justice Department right now we would give the New York Fed SIXTY seconds to cooperate fully with this investigation of the missing Billions that were sent to Iraq or we would then start perp-walking Federal Reserve workers out the front-door of the New York Fed and then turn to the Federal Reserve in Washington for answers.

Hell, everyone knows where Uncle Ben “I just love destroying American families with all my money printing because destroying American families makes my buds on Wall Street rich” Bernanke is today!  He is holding a press conference at the Fed building in Washington DC and maybe someone from the FBI can show up and perp-walk him out of the Fed building if he is not willing to turn over information on where these Billions of Dollars have disappeared to.

Just another day with OUR Government wasting OUR hard-earned money and now the Iraqi People’s money also!

Just Another Day in the Hotel “Wacko Liberal Nuts” California! – Give Jerry Brown Credit For Vetoing the Bogus Budget Passed by the Democrats and State Controller John Chiang For Stopping the Legislators Pay…But the War on Business and Thus Communities, Families and Children in California Continues and Is Doing Great Damage to the Former Golden Now Broken State – If The Idiots In Sacramento Really Gave A Damn About the Poor and Hard-Working Middle Class in California They Would Balance the Budget Without More Taxes and Just Go the Hell Away!

While the Three-Ring Circus that is the government of the State of California continues in Sacramento we here at Mad As Hell And… are in other U.S. states looking for sites to locate manufacturing facilities and it is a Very Good Thing to be far away from the Moron party that is now being thrown in the Broken State:

California legislature to forfeit pay, Chiang says

“State Controller John Chiang has decided to deny California lawmakers their pay for failing to produce a truly balanced spending plan, infuriating legislative leaders but pumping new life into budget negotiations just 10 days before the start of the new fiscal year.

Indignant Democratic lawmakers, having passed a budget on the June 15 deadline without input from Republicans or Gov. Jerry Brown, said the controller, who issues state paychecks, was engaged in an illegal power grab. Chiang said in his announcement Tuesday that aspects of the Democrats’ budget — which Brown had swiftly vetoed — were incomplete and the plan therefore violated a new law that punishes the Legislature for late spending plans.

The impact on legislators’ wallets could be severe. Until they approve a budget that Chiang deems balanced, rank-and-file lawmakers, who are paid at the end of each month, will be docked about $400 a day. That sum is the daily portion of their $95,291 salary plus a $142 per diem allowance.

Chiang said the forfeiture is required because the budget that Democrats approved spent more — $1.85 billion more, in his analysis — than it collected in taxes and fees.

“The numbers simply did not add up,” said Chiang, who is also a Democrat.

Voters passed a law last fall requiring that legislators’ pay be seized for every day that a budget is late. That law, which also enabled lawmakers to pass spending plans with a simple majority vote, does not specify that it be balanced, but Chiang noted that other laws do.”

We do have to give credit to both California governor Jerry Brown for vetoing the Bogus state budget passed by the Democrats in the California legislature and state controller John Chiang for calling the Bogus state budget what it is….a turkey…and then stopping the legislators pay as required by a new law passed by California voters last year.

Governor Brown is still pushing for a vote by the People of California to vote on extending what were supposed to be “temporary’ taxes to try and make-up the approximate $6 Billion deficit on an $85 Billion Dollar state budget (which is only about 7 percent more in cuts) for the upcoming fiscal year, but we have some news for Jerry Brown and the Democrats in Sacramento:

The People of California will vote down the extension of the “temporary” taxes if they are given a chance to vote on them just like they did in the last special election in 2009 and that means that everyone in Sacramento needs to just go ahead and make the $6 Billion Dollars in cuts right now and wrap-up the Stupidity that has come to dominate the Biggest Job Killing machine in the History of Man:

The Government of California and specifically some of the Wackiest Liberal Nuts that have ever walked upright on Planet Earth…the California Democratic Party

There are literally tens of thousands of jobs that are now in the state of California that are headed out of the state to places that don’t have state governments that are not at war with business and if the Democrats really care about the People of California they will start doing things to make the Broken State a place where businesses and thus communities and families can succeed and thrive…..Hold it a second!

Who are we kidding?  The California Democrats wake up everyday of their lives and try to dream up ways to destroy profitable businesses and rip apart families and communities in the process so why in the world would we think that any of the Wacko Liberal Nuts in Sacramento would do anything but do the only thing they know how to do:

Destroy businesses and celebrate and throw parties as they do it while they could care less about the communities and families they decimate in the process!

Just another day in the State of California with more families and children being destroyed and the FACT is that if the Wacko Liberal Nuts could figure out a quicker way to punish evil business owners they would do it in a nanosecond.