Norquist: A Vote for Obama is a Vote for $500 B Tax Increase

Americans for Tax Reform head Grover Norquist fired back against criticism that his anti-tax pledge is getting in the way of a tax compromise by Congress, arguing in an exclusive interview with Newsmax.TV that his pledge makes possible real tax reform and that contained in any compromise is a hidden tax increase.
Norquist’s group organizes the Taxpayer Protection Pledge, which asks all candidates for federal and state office to commit themselves in writing to oppose all tax increases. The pledge, which Norquist says he dreamed up when he was 12 years old, was endorsed by Ronald Reagan upon its inception in 1986, and has been signed by more than 1,100 state office holders as well as 238 current House members and 41 current Senators.
Norquist has come under fire from the first President George Bush and others about the rigidity of the pledge and Senate Democrats believe they have come up with a plan to get around the anti-tax pledge by letting all tax cuts lapse Jan. 1 and then reinstating most of them days later, an idea which Norquist has said “doesn’t pass the laugh test.”
The plan shows efforts by lawmakers to include new federal revenues in an attempt to avoid the “fiscal cliff” in January. All Bush-era tax cuts expire at that time and automatic spending cuts to the military kick in.
Norquist told Newsmax.TV in an exclusive interview that the pledge “stops a tax increase, so if somebody tells you the pledge is getting in the way of getting something done what they mean is it’s getting in the way of a tax increase.”
“If they say it gets in the way of a compromise they haven’t finished the sentence,” he said. “It gets in the way of a compromise that’s actually a hidden tax increase. So the pledge stops tax increases. It makes possible real tax reform and real spending restraint.”
The pledge does not get in the way of the plan proposed by Rep. Paul Ryan of Wisconsin, which the Republican House has passed and most Republicans in the Senate have supported, Norquist said, and “would reduce government spending by six trillion dollars over the next decade, reform taxes, not raise taxes but lower rates, broaden the base for simpler, more pro-growth tax policy.”
Norquist said he has little confidence that President Barack Obama and Senate Democrats can help the U.S. avoid the “fiscal cliff,” a term for when all the tax cuts that former President George W. Bush put in place are set to expire and when automatic spending cuts to military and domestic programs kick in.
Obama and the Democrats “want the present lower taxes to lapse and so everything would snap back to 2001 and 2003,” Norquist said. He then painted a picture of what things will look like when the Bush tax cuts expire.

“Tax cuts would disappear, the Alternative Minimum Tax, which is right now limited in its impact, would become unlimited, would hit not the four million Americans it hits now but 31 million families would be hit by the Alternative Minimum Tax,” he said. “The R&D tax credit which protects investment and research development would disappear. So the whole series, this $500 billion tax increase that hits January 1 if Obama is reelected or if the Democrats control the U.S. Senate. So on Election Day if you vote Obama or the Democratic senator you could end up with; we'll end up with a $500 billion tax increase in January.

 If Romney and the Republican senator are elected that would be stopped.”Norquist then slammed Obama’s plan to let the Bush tax cuts expire for just those making more than $250,000 a year, saying it actually raises taxes on small businesses.

“Many small businesses, most small businesses, pay as if they were individuals,” he said. “They pay the personal income tax. So when you talk about a successful small business it looks like a rich person. When Obama says ‘I’m going to tax rich people,’ well, what you’re taxing is any growing small business. So it would be devastating to the small business community.”Norquist said that allowing the payroll tax cut to expire would result in a significant tax increase. “Obama has put that in, I think, in order to be able to claim he’s for lower taxes,” he said. “But again he passed it temporarily, one year.

He kind of likes to give people things temporarily so he can maintain political control over individuals. I think we should make tax cuts permanent. All of the tax increases that Obama has put into place have been permanent. All of the handful of tax cuts has all been temporary.”
Norquist weighed in on Obama’s much-criticized remarks in a Roanoke speech in which the president said, “If you’ve got a business, you didn’t build that. Somebody else made that happen.”
“The liberals and left of the United States have been trying to make the case that merit does not exist,” Norquist said. “People who earn more money because they work on Saturdays don’t deserve to keep their money. People who sacrifice and build a small business don’t deserve to earn more money than somebody who’s on welfare. So they have to delegitimize your success.”“You wake up early in the morning, go to work, your neighbor doesn’t; you don’t deserve any more than he does,” Norquist said. “You risk your life savings to build a business and you succeed; you don’t deserve anything. How do they come up with that? Well the argument is that, on several levels, because you drove on a road that the government built, with your tax dollars, by the way, with your gasoline taxes, that somehow the government deserves something off your work.”
“… I couldn’t believe that the president of the United States was explaining that Bill Gates did not build Microsoft and that Apple was not built by Steve Jobs,” Norquist added. “That he, Bill Clinton, and all his liberal Democratic friends deserve as much credit, as much of the money, as these companies and individuals created, as the people who actually did the work.”
Norquist said he thinks Americans will elect Mitt Romney and a Republican Congress to stop Obamacare and tax hikes.
“… if you vote for Obama and he wins, you will get the 20 taxes in Obamacare and the government will raise taxes on your health savings account, your flexible savings account, your Blue Cross/ Blue Shield, on medical devices, on insurance, all those tax increases to tax you to give things to other people,” Norquist said. “If you vote for Obama and he wins, then there’s a $500 billion tax increase that happens automatically on the first of January, 2013. That’s 56 days after you vote for Obama. You get hit in the forehead with those collections of tax increases.
“You vote for Romney, and a Republican Senate, you have to do both, then we can and will, and Gov. Romney and the Republicans in the House and Senate made it very clear: elect a Republican government, all of Obamacare and Obama taxes go away and the $500 billion tax increase goes away and they’ll do tax reform instead."

Allen West: Obama 'Desperate' After Jobs Numbers

Florida Congressman Allen West believes that Friday’s dismal jobs report will back President Barack Obama into a corner and make him a “desperate person” with the election now four months away.
“When you’re a desperate person — much the same as a cat being cornered – you’re going to come out and really fight even stronger,” predicted West in an exclusive interview with Newsmax shortly after the Labor Department reported that employers had created only 69,000 jobs in May — the fewest in a year — while the unemployment rate ticked up. Together, the news fueled fears that the economy is heading in the wrong direction under Obama's stewardship.
“I think that the president’s policies are failing the American people,” explained West. “We have now hit 40 consecutive months of unemployment in the United States of America at or above 8 percent.”
GOP presidential nominee Mitt Romney quickly labeled the jobs numbers “devastating news for American workers and American families,” while House Speaker John Boehner said it’s clear that Americans are in a “desperate spot.”
“It is now clear to everyone that President Obama’s policies have failed to achieve their goals and that the Obama economy is crushing America’s middle class,” Romney said.
House Republican Policy Committee Chairman Tom Price of Georgia said that the jobs report reflects economic growth in America that continues to “disappoint and underperform.”
Jennifer Korn of the Hispanic Leadership Network said the news has been particularly devastating for the Hispanic community.
“Hispanics are still experiencing an all-time high unemployment rate of 11.0 percent,” she said, asking Obama, “Mr. President where are the jobs?"
The May jobless report follows April figures that also came in weaker than forecast and were revised down further today, to a 77,000 gain — news that prompted billionaire businessman Donald Trump to tweet: “The economy is in deep trouble.”
RNC Chair Reince Priebus tweeted that the dismal report “proves yet again” that Obama’s “policies simply are not working.”
Reports released yesterday showed the economy grew less than initially estimated during the first quarter, and business activity in May expanded at the slowest pace in more than two years. The number of Americans applying for unemployment benefits rose to a one-month high in the week ended May 26, according to Bloomberg.
West, who was elected in 2010, said that the actual unemployment rate of the nation is closer to 14.5 percent when you consider the under employed and those people who have dropped off the unemployment rolls.
“President Obama is pretty much in a corner,” declared West, who is a member of the House Tea Party Caucus. “It’s a very much desperate situation for him because as three years and six months into this recovery . . . we know that this is the worst economic recovery that we have seen in the United States of America’s history.”
An Army veteran, who served for more than 20 years in the military, West said that President Obama’s policies have been an “abject failure” for the country.
“These policies are not helping the private sector to grow and create job opportunities that are necessary to turn this economic situation around,” he charged.
“And I think that what President Obama is doing in trying to attack Gov. Romney is not what the American people are looking for. They’re looking for solutions. They’re looking for leadership. They’re looking for a statesman,” West added.
He said that Romney must now present a plan to the American people of how he will turn the economy around much the same way that Ronald Reagan did back in the 1980s.
“When you make the comparative analysis with President Ronald Reagan when he was coming out of that recession, GDP growth was somewhere between 6 and 6.5 percent,” according to West, who said that GDP growth under Obama is around 1.9 percent.
“We know that the debt to GDP ratio is still very high. And that is a very bad indicator for him,” asserted West. “I think Gov. Romney now has to really show his economic prowess and come out with a very good strategic plan to turn this economy around.”

 This is a very interesting fact that seems to be missing from the normal news media. It appears Mr. OBama has successfully hidden his lack of a fundamental knowledge from the American people regarding job creation. In other words, he hasn't a clue. His advisors are even more clueless.

 We as a country, really need to wake up an eliminate this problem before it's too late. We are at the brink of financial collapse and this president is only making matters worse. 

 I do believe the ONLY legacy this president has, is being able to deceive a large group of Americans  into believing he is/was the "Hope" they were looking for. Weren't they all mistaken.

Obama’s attack on Supreme Court

President Barack Obama’s attack on the Supreme Court appeared to backfire, when the 5th Circuit Court of Appeals issued an order giving the Justice Department until noon Thursday to state whether the administration truly believes courts lack the authority to strike down mandates that they determine are unconstitutional.

On Monday, Obama said that striking down his signature healthcare legislation would be an “unprecedented, extraordinary step” and would demonstrate a lack of “judicial restraint” by the Supreme Court.

He also pointed out that the nine Supreme Court justices are unelected, suggesting that it would therefore be undemocratic for them to overturn Obamacare, which narrowly eked through Congress by a seven vote margin in the House of Representatives.

“This is liberals in shock over watching their side being demolished in oral arguments,” Fox News commentator Charles Krauthammer said Tuesday, pointing out the courts have had the authority to strike down unconstitutional provisions for over 200 years. “And [they are] trying to bully the Supreme Court into ending up on their side in a case which they clearly had lost intellectually and logically.”

The order from the 5th Circuit for the Justice Department to clarify its position on judicial authority came during a separate challenge to Obamacare brought by physician-owned hospitals.

As a Justice Department lawyer began arguing the government’s case, Appeals Judge Jerry Smith interrupted the presentation to ask if the 5th Circuit Court had the legal authority to strike down a law it finds to be unconstitutional. CBS News reports that when the government lawyer answered affirmatively, the judge stated that it was not clear to “many of us” that the president agrees.

The three-judge panel then gave the Justice Department until noon Thursday to provide a three-page letter clarifying whether it believes courts have the authority to pass judgment on the constitutionality of laws. “Clearly, Jerry Smith was upset by the president’s remarks and he has every right to demand clarification,” judicial expert Curt Levey of the Committee for Justice told Newsmax. “Obviously, he’s making a point as well as requesting clarification.

“But the president left himself open to that,” Levey added. “Of course the president doesn’t really believe the Supreme Court can’t strike down unconstitutional laws. But if the president’s going to say things like that to demagogue, then he is responsible for them.”

Many observers saw the president’s remarks as a clumsy attempt to “work the refs” and influence the court’s decision on his healthcare reforms. His challenge to the independent judiciary branch of government provoked widespread criticism from both sides of the aisle Tuesday.

“For the president to imply that the only explanation for a constitutional conclusion contrary to his own would be out-of-control conservative justices does the court a disservice,” wrote Washington Post correspondent Ruth Marcus, who has been a staunch defender of the president’s policies.

The Wall Street Journal, meanwhile, published a pointed editorial taking the president to task.

 “Mr. Obama's remarks suggest he is joining others on the left in warning the justices that they will pay a political price if they dare to overturn even part of the law,” it stated. “As he runs for re-election, Mr. Obama's inner community organizer seems to be winning out over the law professor.” By upping the ante, the 5th Circuit focuses more attention on a misstep that the administration would prefer go unnoticed. The president came under attack from the left and right Tuesday over what looked like a blatant attempt to intimidate the court and influence its verdict. He quickly backed off from his challenge to the judiciary, however. “The point I was making is that the Supreme Court is the final say on our Constitution, and all of us have to respect it,” he said. “But it’s precisely because of that extraordinary power that the court has traditionally exercised significant restraint and deference to a duly elected legislature. Obama went on to assert that overturning congressional legislation was so extraordinary that the burden of proof would be on those who felt it could be unconstitutional.  That view, however, appeared to be at odds with the position of the key swing vote in the case, however: Associate Justice Anthony Kennedy.

“I understand that we must presume laws are constitutional,” Justice Kennedy said to U.S. Solicitor General Donald B. Verrilli on the second day of oral arguments last week. “But, even so, when you are changing the relation of the individual to the government in this, what we can stipulate is, I think a unique way, do you not have a heavy burden of justification to show authorization under the Constitution?”

 How naive is he to think that our Supreme Court cannot overturn an unconstitutional law. Then when he realizes that he was WRONG, he attempts to threaten and intimidate them. I think the power we gave him has gone to his head. These are precisely the reasons why he is so ineffective in office. I think it's time we took back the power. YES, we the people have that power!!!

 THE TIME FOR CHANGE HAS COME! WE NEED A LEADER WHO CAN AND WILL GET THIS COUNTRY BACK TO WHERE IT BELONGS AND OUT OF THE GUTTER WHERE OBAMA PUT US!

NOVEMBER ELECTIONS ARE COMING! REMEMBER THESE THINGS WHEN YOU GO TO CAST YOUR VOTE.

Obama very Bad for Economic Recovery

Forbes magazine editor and former presidential candidate Steve Forbes tells Newsmax that Mitt Romney will win the GOP presidential nomination and defeat President Obama in the November election. But he warns that an Obama victory — perhaps even the anticipation of an Obama win — will lead to a market selloff and another recession.

Forbes is president and CEO of Forbes Inc. He ran for the Republican presidential nomination in 1996 and 2000, urging the adoption of a flat income tax with a single tax rate. He makes frequent appearances on the Fox News Channel.

“I think Romney will win the election against Obama. But if you have a good conservative core in the Senate you’re going to get things on his desk, the president’s desk, that I think are going to be much stronger for the country, much better for the country, than if they weren’t there.

“So this isn’t just about winning a particular race, it’s also about having the cadres, so to speak, who can make positive things happen.”

Fed Chairman Ben Bernanke has warned of a pending fiscal cliff that the nation is approaching. The Bush tax cuts are set to expire on the first day of 2013, and deep spending cuts are also in the works.

Asked if lawmakers in Washington will be able to deal with this “cliff” without causing turmoil in the markets, Forbes responds: “After the November elections, if President-elect Romney makes it clear that he’ll sign temporary legislation on January 20 extending those tax rates for a few months so Congress can make deliberations on a whole new tax bill, I don’t think the markets are going to have much of a hiccup. I think they’ll make the Bush tax rates retroactive to January 1.

“So the key is who wins the election. If Obama happens to win, I think you’ll see a market selloff. I think we’ll be on the way to another recession. And I think the markets, if they anticipate Obama will win — markets don’t wait for a bad thing to happen, they sell off before it happens.”

He was also asked if he believes a Republican White House and GOP Congress would implement a flatter tax code.

“I don’t think you’re going to get a proposal from Mister Romney on the flat tax,” he declares.

“As a matter of fact when I ran 15 years ago, he did ads against the flat tax. But the key thing is if you have the right people in the House and the Senate, the tax bill — and there will be a tax bill or tax bills plural — will be shaped in a way where I think we will get dramatic simplicity.

“We might not get a pure flat tax but we’ll get something pretty close to it, and maybe the flat tax itself. I don’t think Romney is going to resist if he sees there is strong support for genuine tax simplification. I don’t think he wants to meet the fate that the senior George Bush met when he went against the base of the party.

“So the key thing is to have a good base in the Senate, a good base in the House, and then I think we can positively shape the tax legislation.

Commenting on the United States recently surpassing Japan as the nation with the highest corporate tax rate, Forbes says: “It’s part of the reason why the U.S. economy is not doing well, why this recovery is so punk — proportionately probably even worse than from the early ‘30s.

“Normally when you have a big downturn you have a sharp upturn, at least initially. This time we didn’t get a sharp upturn. This year we’re going about 40 miles an hour on a superhighway when we should be doing about 80, and one of the reasons is the uncertainty about taxes and the high tax burden.”

Everything this man has done has been to the detriment of the country. This country needs to get back to the greatness it once had. No president has done so much damage in such a short period of time. Time for a change is NOW. We need not be fooled into thinking he can accomplish anything he said during his first campaign. HE’S ALL TALK.

O'Bama's accumulated debt has just dwarfed that of President Bush's 8 years in only 3 years and 2 month's. O'bama created debt climbed to $ 4.93 Trillion compared to $ 4.89 Trillion during Bush's 2 terms. This is according to the Treasury Departments Bureau of public debt.
 O'Bama called the debt accumulated by then President Bush as "unpatriotic" during the 2008 presidential campaign, so far has let the red ink grow to $ 15.5 Trillion! I would really like to know what he thinks of HIS debt.
 It is more than 100% of the gross national product, the total value of goods and services produced in this country.
Amazing how this President blames Bush's policies and the economic turmoil he inherited for the skyrocketing debt. He has done absolutely nothing to control spending or create jobs. He and his cronies print money like mad and think it has no long term effect on the economy. Bernanke needs to go. O'Bama needs to go with him.He must have gotten his degree from sears. (no offense to sears) They think no one is watching. Maybe they think the people of this country believe their BS. Unfortunately, there are many that do. The news media is too afraid to let the facts speak for themselves. I really don't understand how, in this country, and in this day and age, we allow this to be covered up.
 4 years worth of damage is bad enough, 8 years would be devastating to this country's economic survival.
 I honestly believe that this administration is effectively eliminating the middle class. (The one's who pay for everything in this country) 
I also believe that my generation will probably be the last who are able to retire. (Barely) I can see my children, who do have college educations, will have to work for virtually the rest of their lives. It truly saddens me to think of this, but unless something changes, this will be a reality. Unless you are already wealthy, or by chance hit the lottery, this may be an inevitable outcome. I know if we have 4 more years of this mismanagement, it will be extremely difficult for anyone to dig this country out of the ditch the current administration has put us in.
This country needs to wake up. Before it's too late

DC Ignorance or Compliance??

Beijing and Washington DC

Everybody knows that China is on the move. Even despite the recent global slowdown — and despite what the naysayers may try to tell you — China’s economy is still growing more than seven times faster than America’s is.

But what most Americans do NOT know — what our media steadfastly refuses to admit — is that China is already so rich, it can now DICTATE economic policy to the world; even to the United States of America.

But consider the shocking report that Yahoo Finance recently posted. I quote:

“The International Monetary Fund has just dropped a bombshell, and nobody noticed.

“For the first time, the international organization has set a date for the moment when the ‘Age of America’ will end and the U.S. economy will be overtaken by that of China.”

According to the International Monetary Fund (IMF), by 2016, the United States will no longer be the world’s number one economic power.

According to the IMF, China will be richer than America in less than five years.

But according to the prestigious Peterson Institute — and based on data just published by the University of Pennsylvania — the IMF is wrong: The Chinese economy will NOT surpass America’s by 2016.

Nor will it happen in 2017 or even in 2020, for that matter.

Peterson and the University of Pennsylvania say China is ALREADY the world’s #1 economic power.

And the thing is, they proved it.

These two highly respected institutions just presented irrefutable proof that in real terms — when you adjust for the domestic purchasing power of respective currencies ...

The U.S. economy produced goods and services valued at $14.6 trillion in 2010 ...

But China’s Gross Domestic Product soared to $14.8 trillion.

China’s economy is already larger than America’s.

And what’s worse, the United States is falling farther behind every day:

According to the official figures from both Washington and Beijing, the U.S. economy grew about 1.7% in 2011.

China’s economy grew 9.2%.

That’s more than SEVEN AND ONE-HALF TIMES FASTER; fast enough to nearly DOUBLE the size of China’s already-massive economy once each decade.

And if you get to know a little more about both nations, China’s burgeoning economic power becomes even more unsettling. Because the fact is, Beijing has become so powerful, it can now dictate economic policy to the U.S.

>> The Beijing government has almost no debt ...

>> But Washington has nearly $145 trillion in debt and obligations.

** China has $3.2 trillion in cash — and its cash reserves are growing ever larger, month after month ...

** But Washington has almost no cash on hand and has to borrow nearly half of every dollar it spends — much of it is borrowed from China.

> China’s total tax revenues are up nearly 30% from a year ago ...

>> But Washington’s tax revenues are dramatically down due to the sluggish U.S. economy.

** The U.S. has about 160 million workers ...

** China has 810 million workers — more than 5 times more than the United States.

>> 97% of all Chinese workers are employed ...

>> But 14 million U.S. workers are either unemployed or underemployed.

** In China’s urban areas, wages ROSE 7.6% in 2011 — and the increase was about double that in rural areas.

** Meanwhile, inflation-adjusted wages for U.S. workers dropped 1.7%.

The investment facts are even more startling:

Securities valued at more than $6 trillion trade on Chinese exchanges every day and that number is growing by leaps and bounds.

China enjoys the largest foreign capital inflows of any nation on Earth, surpassing the United States as the world's favorite place to invest.

     China is now the world’s #1 mine operator ... its #1 car maker ... its #1 manufacturer ... its #1 exporter.

Any way you look at it, China is already the nation on the way UP. While sadly, the U.S. is the nation on the way OUT.

A study by The Program for International Student Assessment has ranked Chinese students #1 in the world. American students were ranked fourteenth.

China’s Tianhe-1A super computer is the fastest in the world, capable of processing more than 2.5 thousand trillion calculations per second.

American technicians don’t even know how that kind of speed could be possible.

And while the U.S. is winding down its space program, China is preparing to put a man on the moon!

And when you look at China’s military, the contrast between the two nations gets downright scary:

China has THE LARGEST ARMY IN THE WORLD — 2.2 million active-duty military personnel — 600,000 more than America has.

And while the U.S. is cutting its military expenditures, China has increased military spending every year for more than 20 years ... and is still boosting it by an average of 11.8% per year.

China’s military is state-of-the-art: It just unveiled the J-20 — its first stealth fighter.

It also has spy satellites, modern battle tanks, aircraft carriers, nuclear attack submarines, cruise missiles, and more.

China’s nuclear arsenal is especially worrying: While the U.S. has been steadily reducing its stockpiles for nearly 30 years, China continues to build up its forces and is refusing to even begin talks on nuclear arms reduction.

In the size of its economy and economic growth ... in science ... in technology ... in the scholarship of its students ... in the growth of its military ... in every conceivable area, China is ALREADY the world’s most dominant nation.

More importantly: Because of China’s newfound status as the world’s #1 super power, it is now ready, willing and able to DICTATE economic policy to the rest of the world ... and that includes America.

And of course, there’s another reason why China is now in a position to dictate economic policy to the United States of America:

Nearly 50% of every dollar Washington spends today is borrowed money — much of it borrowed from China.

      Without the billions Beijing loans Washington, the entire U.S. government would go bust. Washington would become a virtual ghost town. Millions of Americans who count on government checks would be financially destroyed.

So you see, the entire world — including the United States — must bow to China’s superior economic power — the greatest the world has ever seen.

And at a recent economic conference, we were treated to images of our own president doing just that.

Nobody who watched that humiliating display on television had any doubt which man has the greater power; which man is in control.

And make no mistake: the Chinese know they’re in the driver’s seat. People’s Liberation Army Senior Colonel Liu Mingfu recently said, “To save itself, to save the world, China must prepare to become the world’s helmsman.

China is not satisfied to merely surpass the U.S. economy; it has already begun a campaign to DOMINATE the U.S. economy.

The shocking part is that our own leaders in Washington, D.C. have become Beijing’s willing accomplices.

Because China has already begun to wage war against the dominance and value of the U.S. dollar

With the help of our leaders in Washington, D.C.!

For decades now, the U.S. dollar has been the world’s currency of choice. Most of the world’s central banks hold their reserves in U.S. dollars. Most international transactions have been settled in U.S. dollars.

That means there is always a high demand for dollars around the world — and as a result of that demand, the greenback has held its value more effectively than many other currencies have.

But since 2009, President Obama has spent more than $10.6 trillion, and run up trillion-dollar deficits year after year.

To fund Washington’s spending addiction, Treasury Secretary Timothy Geithner has borrowed an estimated $4 trillion since 2009. And, Ben Bernanke — the Chairman of the U.S. Federal Reserve — has created nearly $8 trillion out of thin air since 2009.

As a result, the value and the buying power of the dollar have already begun to plunge:

*Gasoline prices have shot the moon — you’re paying over 25% more than you paid just 24 months ago!

*The price for heating oil rocketed 29% in a recent 12-month period, sending home heating bills up more than 50% per month!

*Milk and cheese prices are up 18% and 15% respectively ... the price of beef and veal used in restaurants is up 17% ... coffee prices are up more than 20% ... and egg prices have soared nearly 30%!

* And everywhere you look, you see “sticker shock” on health insurance ... medicine and medical care ... college tuition ... airline tickets ... and more.

As a result of this precipitous decline in the dollar’s buying power ...

France, India and many other countries ...

The U.N., the IMF and other international organizations ...

Are ALL calling for the end of the dollar’s reign as the world’s reserve currency

And even the official newspaper of the Chinese Communist Party says :

“The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States.”

In fact, the U.S. dollar is already being abandoned by many countries and companies in favor of the Chinese currency — the yuan:

> Investors can now buy yuan-denominated bonds in Hong Kong.

> Caterpillar and McDonald’s recently financed their mainland China projects directly via yuan bond offerings instead of U.S. dollars.

> And China’s trade with Russia, Vietnam and Thailand is now being settled in yuan instead of U.S. dollars.

> Apple Computer is even accepting iTunes payments in yuan!

Now, China believes it’s time to make the supremacy of its currency — the yuan — OFFICIAL — by gutting the U.S. dollar. And our own leaders — President Obama, Treasury Secretary Geithner and Fed chief Bernanke — are obediently helping Beijing do just that!

Hard to believe? Especially in an election year? I agree! But remember: President Obama saw what a weaker dollar did for U.S. stocks in 2009: It gave birth to huge rallies! Having the stock market explode higher just before the elections would be a godsend for any incumbent president!

Look: You’ve seen the news reports of Obama, Geithner and Bernanke complaining about China’s currency. Those complaints are only growing louder now — even in this election year!

The administration claims the “weak yuan” gives China an unfair trading advantage. It makes China’s products cheaper than ours on world markets.

So they’re demanding that China increase the yuan’s value in order to level the playing field for American exporters.

But anybody with even shred of common sense can instantly see the Obama administration’s claims are pure baloney.

Look: The average U.S. worker earns nearly 6.5 TIMES MORE than his or her Chinese counterpart.

Those sky-high labor costs are cooked into every product produced in America — and that’s what makes American products far more expensive than similar Chinese-made products.

So even if Beijing DOUBLED or TRIPLED the value of the yuan, Chinese products would still sell for far less than U.S.-made products do: Boosting the yuan’s value would do little if anything to help U.S. exporters!

So why does Washington really want to jack up the value of the Chinese yuan? What’s the truth that Washington won’t tell you?

By RAISING the value of the Chinese yuan, Washington and China will automatically CRUSH the value of the U.S. dollar ..

So Washington can repay its otherwise unpayable debts with cheaper dollars!

Look: The “official” U.S. national debt is now over $15 trillion — nearly three times more than the most indebted nations in Europe ... COMBINED!

But when you add in the debts Washington owes to veterans, seniors and government pensioners, the total amount is nearly ten times more: A staggering $145 trillion.

That’s nearly TEN TIMES the total value of the goods and services the U.S. economy produces ...

That’s far more debt than Washington can ever hope to pay.

In fact, Washington’s only hope of avoiding default is to destroy the value of its own currency, then pay its debts back with dollars that are only a shadow of their former selves.

Plus, with a weak dollar and strong Chinese yuan, China can buy up even more of our debt and protect the massive investment it has already made in America by helping Washington avoid default.

That’s a massive “win-win” for both Washington and Beijing:

Plus, a rising yuan will once and for all solve Beijing’s #1 economic problem: Rising domestic inflation. As the yuan’s buying power rises, price inflation in China will decline dramatically.

More importantly, as the yuan’s purchasing power explodes, China will also be able to lock up even more of the world’s supply of oil, coal, steel, copper, lumber and other natural resources ... to take control of thousands more companies ... and to extend its economic control throughout the world.

But why lie about their intentions?

Because if they told the truth, there would be hell to pay.

Just imagine how voters would react if the president stepped before the microphones and said ...

“My fellow Americans, we politicians have spent too much money and now, we can’t pay our debts.

“The only way to avoid default is to destroy the value of your money and then repay our debt with cheaper dollars.

“Of course, that means your cost of living will double and double again and most of you will be reduced to poverty ...”

See what I mean? Telling the truth would be tantamount to political suicide.

Any way you look at it, this is treachery of the highest order: The U.S. dollar — and YOUR income, savings, investments and retirement — is being sacrificed on the altar of political expediency.

And while the insult to our national pride and patriotism will be painful, the personal toll will be excruciating.

The dollar’s demise will be catastrophic for everyone who earns, saves or invests dollars. The price you pay for food, electricity, gasoline and just about everything else will skyrocket.

Many Americans — particularly those on fixed incomes — will have to choose between buying medicine, paying the rent, or buying food.

Homelessness, hunger and hopelessness will be the everyday reality for millions of Americans.

Some will rightfully blame Washington for their misery. Others will blame Wall Street. Mass demonstrations and hunger marches will dominate the headlines.

When the dust settles, the United States will be little more than just another name on the long list of once-proud countries that squandered their wealth ... that were ultimately driven to their knees and forced to submit to the nations that took their places.

They simply change channels when CNN features former British Prime Minister Brown touting “a new global financial order,” describing this as a “decisive moment” for the world.

And they choose not to even listen to Henry Kissinger — the man whose historic visits opened U.S. relations with China 41 years ago in 1971 — when he says we must accept a new global hierarchy with China in a dominant role.

O’BAMA is the WORST President this country has seen in a very long time, IF EVER….O’Bama isn’t anything other than the person who is destroying this country and this country’s future.

Those that say they will not vote this election need to get their heads out of the sand. Anyone is better than this!!