Even the Federal Reserve is Broke

How bad is the situation in America today?

Constituents in Wisconsin are letting Rep. Paul Ryan (R) know that they aren’t happy with his plan to extend tax breaks for the wealthiest Americans.

1_11_10_ben_bernanke_crying After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those [...]

Army General Carter Ham told Congress today that while sending a globalist ground invasion force including American troops into Libya may not be “ideal,” it is probably the only way to make sure the CIA organized rebels and al-Qaeda defeat Gaddafi and his troops.

A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama over his attack on Libya, throwing down a legal gauntlet that could be picked up by some Congressional Republicans

Congressman Ron Paul, icon to liberty lovers the world over, sent a stark message this week to ruling elite “internationalists” attempting to expand globalism via the Western military industrial complex – you will fail.

House Budget Chairman Congressman Paul Ryan (R-Wis.) said President Barack Obama’s budget strategy is to “do nothing, punt, duck, kick the can down the road” while the debt remains on track to eventually hit 800 percent of GDP and the CBO is saying it “can’t conceive of anyway” that the economy can continue past 2037 given its current trajectory.

While the government wrangles over a whopping $30 billion in spending cuts for the 2011 budget (with fiscal 2011 already half way over), which threaten to shut down the government yet which we all know will be successfully addressed in the 11th hour, with a compromise of sorts confirming once again that both parties are incapable of dealing with the relentless climb in US government debt (and oh so eager to turn their back on campaign promises when faced with reality), which unfortunately is the only fuel driving the US economy, the GOP’s Paul Ryan is expected to announce a whopper of a 2012 budget, one which trims a record $4 trillion in spending over the next 10 years.

Ron Paul raked in roughly $3 million during the first quarter through his various political organizations, POLITICO has learned. Though not all of that money can be transferred to a potential presidential campaign, the big haul demonstrates Paul’s continuing force as a grassroots-powered online fundraiser. The Texas congressman raised $1 million through his federal PAC [...]

Statement on Libya – Defining U.S. National Security Interests, Before the Foreign Affairs Committee, US House of Representatives, 31 March 2011