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Lies, lies & more lies. Cuts, cuts & more cuts. February 17, 2018

Posted by hslu in Congress, 特朗普, 美國, Election, Health Insurance, Taxes, Trump, US Government, 川普.
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The big cuts are coming!The big cuts are coming! And Trump and the Congress don’t give it a damn of what you think or feel. Campaign promises? They are meant to be broken after the election.

Source: Flipboard

Americans are the most gullible ones when it comes to their politicians.

They hate the Congress but keep sending the same representatives and senators back to DC. They filled the White House with liars after liars because they believe all the lies presidential candidates told them on the campaign trail, just to break all of them once in the office.

When Trump was asking your votes, he promised to“save Medicare, Medicaid and Social Security without cuts.”

Trump’s 2018 budget calls for cuts on all three programs and the congressional GOP also tried to cut $1 trillion from Medicare and about half a trillion from Medicaid. Here are the proposed cuts from Trump’s “An American Budget: Major Savings and Reforms”:

  1. Cutting Medicare by $266 billion.
  2. Cutting Medicaid by $1.1 trillion.
  3. Cutting Social Security by $72 billion.

So, all sinile and age challenged Americans, brace yourself for what is coming to you. Hospitals will get reduced payments from the Medicare too. Medicaid will see the biggest cut totaling $1.1 trillion over 10 years.

Additionally, Supplemental Security Income programs and Social Security Disability Insurance programs will see $72 billion cuts too.

You see, there is no place for you to hide no matter where you are in the system. Your medical benefits will be cut. Your doctor’s visits will be

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New Normal in the U.S. September 28, 2014

Posted by hslu in Economics, Taxes.
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Normal federal funds rate before 2008/2009 financial crisis was 4 to
4.25%.

PIMCO has argued that the ‘new normal’ fed funds rate in 2017 will be 2 to 2.5%.

I don’t know what it will be but I instinctively believed that it will be  a lower number because the U.S. government can’t let it go up too much.

The reason is very simple: America is broke.

Higher interest rate will increase America’s interest payment and the government can’t afford it. 

For every 1 percentage point increase in interest rate, Uncle Sam has to add $160 billion to federal government’s budget just to pay the interests on the loans.

Let’s call they what they really are: IOUs.

Don’t call it Treasury Bonds or Treasury Notes as if the government can keep issuing new ones to pay off the interests and the principles on the old Bonds. They are IOUs and they have to be paid off one day.

Just look at Japan: interest rate has stayed at or near 0% for the past 25 years becsuse of Japan’s massive national debt; now at 250% of Japan’s GDP after recent BoJ QE program. Interest payments on Japanese national debt and redemptions of JGBs by Japanese seniors account for 40+% of annual government budget. 40%.

Yet, BOJ is considering more money printing to jack up inflation which will ultimately push up interest rates and debt payments.

America is heading to that direction now that the Fed has gone through four runs of massive money printing and 8 years of near 0% interest rate policy.

We’ll have to wait and come back in 2 years to see where nrw interest rate is.

What I really like to know in 2017 is what percentage of our taxes goes to pay for the interests on the IOUs.

Higher tolls, higher taxes May 4, 2014

Posted by hslu in Economics, Obama.
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We will probably pay more tolls for the privilege to drive on US highways.

Yes, tolls are taxes.

US government is running out of transportation funds and Obama is looking for ways to help state government to get more money from our pockets.

Fees, Taxes and Surcharges February 15, 2014

Posted by hslu in Taxes.
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Governments exist for one big reason: collect taxes. And they are very good at it.

Here is a proof when you rent a car in Texas:

            Rental car for a week: $185.62

            Fees, Taxes and Charges: $104.93

rental car fees, taxes and surcharges

This is imply ridiculous!

The US does not have enough money for Krugman to spend August 30, 2010

Posted by hslu in Economics, Global Affair, jobs, Obama, Taxes.
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In recent weeks, Paul Krugman has begun attacking Bernanke, Obama and some members of the Congress for not spending enough.

Japan had ten rounds of massive government spending from 1991 to 2000 in order to revive its staggering economy. Last I checked, Japan’s economy is still limping around and Japan’s unemployment rate has risen from 2% in 1990 to 5.2% now, slightly lower than 5.6% reached just a year ago.

Recession is market’s way to cure its sickness. Let the market takes care of itself , Paul, and stop that spending all-I-can-borrow-from-Chinese and Japanese nonsense.

By the way, have you proposed any magic formula to reduce that mounting national debts yet? Other than raising the taxes from the rich and not-so-rich folks, that is.

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