When Barack Obama became president in January 2009, he began a campaign to weaken America. I’m not talking about military cuts; I’m speaking of America’s stature. Barack Obama famously refused to acknowledge American Exceptionalism in 2009. He bowed to kings and princes, then denied doing so, then bowed again and again. His White House has driven down the dollar. Timothy Geithner, Obama’s Secretary of the Treasury, warns that the world economy must “rebalance” with less reliance on America.
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Ronald Reagan and Jack Kemp wanted to index everything, especially Treasury notes and taxes. By “indexing,” we mean tying rates (interest and tax) to the inflation rate. Calls for indexing subsided after Reagan and Volcker did what Ford and Carter could not: whip inflation now.
With a $2 trillion deficit this year and multi-trillion deficits projected as far as the eye can see, inflation will return to ravage the American consumer.
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