BAD ECONOMIC NEWS KEEPS COMING

The Congressional Budget Office said yesterday that the amount of national debt is even worse than they thought and that it definitely cannot continue to grow at its current rate.  After delivering this dire news, it went on to say that its position does not account for the adverse affect the burdensome national debt will have on the overall economy, meaning that they believe the bad news is even worse than they are predicting.  This news comes after a week of continuing bad economic news.

COMMENTS:

Everyone gets the message in this country except Obama and Congress.  300+ million people see the terrible situation we are in and 550 don’t.  If they refuse to deal with the issue, we need to do something about it and I don’t know that we can afford to wait until 2012. 

TODAY’S QUERIES & ANSWERS:

Q. I was flabbergasted to hear someone on TV suggesting that there are Democrats in the American Tea Parties.  Can that be true? I thought they were a wing of the Republican Party.  (George ~ Needles, CA)

A. If you have an honest discussion with any Tea Party advocate, you will discover that they want to rein in spending, fix the budget, reverse ObamaCare and get responsibility back into our government.  They don’t care which party gets the job done, but the Democratic Party has been adamantly against these objectives, so that pushes the Tea Party closer to the Republicans.  So, there are a lot of Democrats and most Independents who do believe in these objectives and are Tea Party members.   

Q.  Gingrich is in deep trouble already.  Who do you think will be the top contenders remaining going in to the New Year?  (Phil ~ Dorris, CA)

A.  Mitt Romney, Herman Cain, Michele Bachman and Sarah Palin if she decides to run.  I’m not ruling out Huckabee, either. 

Q.  Are they going to raise taxes? (Chet ~ Genoa, NV)

A.  Yes.  It’s just a question of when... before lunch or after.   

TODAY’S QUOTE:

“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” ~ Ronald Reagan

TODAY’S VIDEO:

http://www.youtube.com/watch?v=N7h4f7PRFRw&feature=ytn%3Amptnews