” The Stuff You Won’t Hear Anywhere Else”
The 114th Congress which began on January 6th 2015 and runs through January 3d 2017 currently has 10,916 bills in front of them, yes you read that right. If these bills are not acted on by the end of the 114th Congressional term guess what? They get tossed and Congress has to start over again from scratch when the 115th Congress gets sworn in January next year. And you wonder why nothing ever gets done in Congress.
Ok so what is a bill? It is the principle vehicle employed by law makers for introducing their proposals to either amend current laws or introduce new laws. The U.S. Constitution Article 1 Section 1 grants all legislative powers to Congress which consists of the Senate and the House of Representatives. They are elected by the people, that means you. In turn the President with Congressional approval appoint officials to run different aspects of the Federal Government like the Federal Reserve, the FBI the EPA and so forth. They are suppose to act in the best interest of the Country and it’s people. Remember they work for us, being paid by us through out tax dollars, and they get paid very well!
So how are they Doing? Only you can answer that question, and opinions do vary but with Congress obtaining a 7% approval rating, opinions don’t vary that much.
Their handling of money affects us all, and Congress does have the power of the purse, it’s what they do best, or worst, depending on your outlook! They are supposedly highly educated individuals, mostly attorneys, god help us who give our country direction and lead us into the future, ok then we are doomed!
Let’s look on how their decisions have affected us recently, lets start with the economy. The United States is in it’s weakest economic recovery since 1949. From the 2009 recession to now our GDP average annual growth has been a dismal 2.1% and it is trending lower, today showing that 2nd quarter growth was revised down to 1.1%. Never in recent history has there been so little expansion in growth. So what is Congress doing to change the situation? They borrow more and more money from us the taxpayers, good job! We have twenty trillion dollars in debt and growing each and every second and it will continue to grow especially the un-funded debt which will end up to the tune of about two hundred and ten trillion dollars. Check out my July 28th blog it goes into detail on the un-funded debt.
Here’s how they do it, on October 21st 2015 the House of Representatives passed house bill H.R. 692 titled the Default Prevention Act. In short the bill REQUIRES the Department of Treasury to ( continue to borrow to pay principle and interest on certain obligations if the debt of the United States exceeds statutory limits). What it means is that Congress can spend and spend and spend and when they run out of money and cannot pay it back they just borrow more money so they can spend and spend again. Remember over ten thousand bills in front of them doing nothing but this one they pass! It is like making ten thousand dollars a year but needing ten million to live on. Remember these are highly educated individuals not, but we only have ourselves to blame because we voted these Bozo’s into office again and again and again. If they worked for our company we would have fired them a long time ago for incompetence, oh and you too can come election day!
So the moral of the story is you have to be smarter that the Federal Government, which is actually pretty easy, you have to live within your means, don’t spend more than you have, and most important put monies aside for the future, either through savings, retirement monies or spending less, I don’t care if it’s five dollars a week or a thousand dollars a week, whatever you put aside is more than what you had to begin with.
I am not for one political party or another I just have no patience for stupidity or incompetence, I deal with finances, either it makes sense or it doesn’t. But I can show you different methods of accumulating wealth, save on taxes and get higher income from savings, it’s what I do because I am smarter than they are! That’s a fact!
Call us for a confidential appointment, remember our consultations are always free! You will be glad you did.