By The Right Scoop


Mark Levin puts the debt limit fight into context by explaining what our actual federal deficits are using the same methods and generally accepted accounting principles that businesses use. In other words, this is how the government would be forced to deal with its deficits and spending if it were a business operating in the private sector. And as the title implies, the figures are staggering:

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  • http://profile.yahoo.com/KYTC7EGQASGOTQYPY2KPC4XCZY Don

    When you have a pot smoking street punk, indocrinated in Indonesian madrasses during adolescence, and never had a real job becomes leader of the world’s strongest economy. what could go wrong? Only in America.

    • aZjimbo

      Exactly.

  • aposematic

    Love Levin, he gets to the nitty gritty of the problem. Tells it like it is. So darn smart too!

    • TMZ2

      I follow a few people myself from time to time ranging from Rusty Humphries and Dana Loesch to Glenn Beck and Michael Hart and of course Sean hannity and Rush Limbaugh. But Mark Levin is one of the best. With some recent changes to TRN, I lost track of Laura Ingraham and have not been able to hear Andrea Tantaros who took her slot. We have a lot of talk radio hosts now. I once tried to compile a list but then more changes happened to the schedules and shows.

  • 57thunderbird

    America has gone from the land of the free and the home of the brave to the land of the freeloader and the home of the depraved.Sad. :(

  • Nukeman60

    Social Security is a good example of this. When Federal employees were added to Social security, their portion of the payments were just a transfer of IOUs from the government General fund to the Social Security fund. No actual dollars are involved (no real money is transferred).

    When you pay FICA, actual money goes into the General Fund to cover the special securities for SS. But when a Federal employee pays his share, the government justs transfers the debt (by just creating more special SS bonds), rather than actually paying it, causing the unfunded liability of SS to ever increase.

    That’s how the government works – smoke and mirrors – and when the day comes when the Piper calls, who will suffer? Who will pay the Piper? We will, with the collapse of the largest Ponzi scheme in history.

    • 57thunderbird

      Bernie Madoff is jealous.

    • Sober_Thinking

      Spot on. And they want to take away OUR guns… lol… just when we’ll need them most.

    • americalsgt

      I like what you’re saying, but I don’t agree that Social Security is a Ponzi scheme. People make an active decision to give their money to a Ponzi scheme. To the best of my recollection, I can’t remember ever willingly giving money for Social Security. No, they just took it. There was no active decision on my part. But then, I’m just in a piss poor mood today. I always get that way when my liberal boss calls me in and tells me I have to take a 25% pay cut for the good of all. That along with the 2 points I get hit with a week ago gives me cause to ponder the point in working at all. I think my boss figured I could take the hit cause he knew in a 5 months I would 66 and be able to make up the loss with my new found money.

      • Nukeman60

        My heartfelt sympathies are with you in dealing with your boss. That is a low blow stunt to pull on a person they figure won’t just up and walk away due to your age.

        As to SS being a Ponzi scheme, most Ponzi schemes are performed on people who are greedy and want something for nothing. That, of course, is not the case in SS, but that does not exclude the basic definition of how a Ponzi scheme works.

        Technically, we all take our jobs knowing that there are federal taxes and FICA involved with every paycheck. At the time of hiring, and anytime thereafter, we have the option to walk. Not usually a good option, but one nevertheless.

        SS presently takes from the present taxpayers to pay for the past workers. When I was born (in the early 50s), there were 16 workers to every recipient, but I believe it is now down to 3 workers per recipient. That cannot be sustained.

        It is predicted that we will run out of money for SS in 2036, but that number keeps dropping every year. In reality, there is no money in SS funds, only $2.6 trillion worth of IOUs (special securities sold only to SS). They must be redeemed by selling treasury bonds to the public (more debt).

        I’m 62. I hope the money is there for you in 5 months, as well as for me in a few years. Realistically, it will end sometime, if they don’t make dramatic changes. The whole scheme arose from the fact that they lied to us about paying for our own future.

        You and I have paid into it all our lives (50 years so far, for me), so we don’t believe it is an entitlement program, as others do. That doesn’t change the facy that it is a scheme and they have stolen it from us ever since they switched it from a ‘lockbox’ (where it was designated for SS beneficiaries only) to the General Fund (where they could spend it on anything, leaving only special IOUs).

        http://www.jec.senate.gov/republicans/public/?a=Files.Serve&File_id=0edfdbbe-6f48-4007-a429-6ef64fda10cb

  • Orangeone

    Levin is correct and I argued that point for many, many years. The fed gov’t has off-book liabilities. Our local gov’ts were required about 10 years to follow US GAAP.

  • Stehekin912

    Who are the Reaganites? We (I) need to familiarize myself with who they are so we (I) can do what we (I) can to encourage and support them. Maybe I already know who they are, but just have not thought of them in those terms and in this type of context….

    • Sober_Thinking

      Art Laffer is a good place to start…

  • c4pfan

    Thanks for posting scoop!

  • Sober_Thinking

    The GOP is really showing what they aren’t made of, aren’t they?

    They lost the most winable election in the history of this country. They caved in on the 2010 debt ceiling negotiations and lost badly. They decided to select and support the most moderate candidate (just like in 2008) running in 2012 and lost badly. They folded on the Fiscal Cliff and lost badly – with nothing to show for caving in. And now, since they’ve been trained to cave-in and show no backbone or pinciples whatsoever, they are already caving in again… prematurely, preemptively. It’s like a kid in grade school being picked on by a bully… but they are using their own hand to guide the other one to hit themselves with it. This is madness.

    It’s bad enough that we have to fight the Godless Democrats… but when our only viable weapon currently are spineless Republicans… it’s no wonder the arrogant and evil media and liberals are laughing, sneering, and raping this nation.

    First, fix the media. Make them irrelevent… get the truth out better – educate the ignorant and wake them up (sadly, the decaying economy may play a large role in that). Second, eliminate the RINO dead weight in congress. Throw the bums out and transfuse the right with the right people. Third… kick the Democrats’ butts big time in the next elections in 2014.

    And as we’re doing all of that… begin laying the groundwork for a viable, honorable 3rd party as a failsafe. And pray. Hard.

    • Indiana

      Well perhaps you should run.

      1) No it was not the most winnable. Palin, Santorum, Bachmann, Gingrich, Cain, West, Rubio, Paul, Perry, etc. No one would have won the election of 2012.

      2) That was actually the debt ceiling deal of 2011.

      3) They didn’t have the leverage to do anything else on the fiscal cliff (unless you want the Democrats to take back the House.

      4) They are actually saying the the House would vote next week to raise the debt ceiling for three months, in a bill that would also contain a provision that if Congress did not pass a budget, members would not get paid. The goal is to force the Senate to pass a concrete budget — something that has not happened for the past three years.

      I applaud the STRATEGY.

      5) Spineless Republicans? You know a good number of them are supposed to be “TEA Party Conservatives”. You just don’t understand strategy. You need to as long as we control only 1 Chamber of 1 branch of Government. How about we change that in 2014?

      6) It is very hard to make the media irrelevant since that is where people get their political news. How about while Obama goes out campaigning (Like he plan for gun control, his campaign organization has been turned into his own prog org with his camp staff) the House goes campaigning as well? Every time we say the truth the left twists it.

      7) I have fought the ignorant. My generation is lost. We are now officially racist, sexist, bigots and homophobes.

      8) I believe most of the TEA party people are going along as well so much for getting rid of the dead weight. Washington changes people fast.

      9) How about we stop having people that say stupid things about rape and abortion and change our language in opposition to gay marriage from something other than “that is not what it say sin the bible”. Heck, why don’t we consider an amendment that defines marriage as between a man and woman but still leave civil unions completely legal. I think that would be fair and the definition of marriage would stay they same and gays will be “equal under the law”.

      10) NO THIRD PARTY! THAT WOULD ONLY GUARANTEE VICTORY FOR LIBERALS!

      • Sober_Thinking

        You wouldn’t want me as President… trust me.

        1) Yes it was winnable – very much so. But it appears that millions of conservatives sat out because they didn’t want to vote for another moderate GOP rube (W. Bush, McCain, Romney). If we had a REAL conservative on the ticket, things might have been different. But the point is moot because we’ll never really know now.

        3) Leverage is important. Voting on your principles and representing the will of your constituants is even more important. The spineless GOP leadership is currently all about playing politics and making deals. They are not taking any sort of a stand – win or lose. If they don’t stand for something, they will fall for anything. And they have… and America pays for their stupid politics.

        4) They are giving in for the wrong reasons… they are giving something away for a promise, which Democrats are all too gleefully willing to break. And the media is all too eager to cover for them. In the corrupt media’s eye and the mantra of the Democrats is that it’s all the Republican’s fault… no matter what. Let history record that Republicans stood on principle and did the right thing for once. Their current offering is to reward the Senate for simply doing their job. Something they are Constitutionally bound to do already. All I see from these Republicans is capitulation and politics… and they’re losing big time with that strategy… and once again, America suffers.

        5) Spineless Republican leadership… that is actively minimalizing and muting those few Republicans who are speaking with a clear, reasonable voice. There are a few rock solid Republicans… but Boehner, Cantor, McConnell and other “establishment”, go-along-to-get-along Republicans are trying to squelch any Tea Party sanity in the party. And you’re right, 2014 is where we continue with the house cleaning. We need to take out the trash.

        6) It is hard to make the media irrelevent. But with the advent of great blog and news sites like The Right Scoop, The Blaze, Drudge, Declaration Entertainment, Red State, etc. and heroes like Mark Levin, Rush, Michelle Malkin, Glenn Beck, Herman Cain, etc. – talk radio and the Internet makes CBS, ABC, NBC, MSNBC, CNN, NPR, etc. irrelevent. Now, we have a choice where we get our news. And I personally choose to boycott anyone that supports the left. If we all do the same – drink from the pure sources of truth and educate others about what the truth is and get them off the lame stream media teat… then we have a chance. It’s not easy… but it’s not impossible either.

        7) While I get depressed and hopless from time to time… this fight isn’t over… far from it. It’s just beginning. Join a group and get involved. Examples might be: Tea Party Patriots, The National Right to Work Legal Defense Foundation, Freedomworks, James O’Keife’s Project Veritas, the NRA, or even Next Generation TV with Allen West.

        http://www.nextgeneration.tv/

        My point is, we have to fight the good fight. The Bible always talks about this and encourages us to weary not, feint not, finish the race… It stinks that we have to fight at all… but evil never sleeps and I will not cave in to tyranny or become enslaved. This is far from over.

        8) I don’t believe this at all. I think many conservatives abstained from 2012 because we had a lemon for a candidate. If anything… I feel the energy and drive building again and believe that 2014 will be a big game-changer again. Just watch…

        9) I’m completely against gay marriage and would support state or federal bans against it. As for my wording… if that’s an issue… I’ll strive to keep it PG… but the horribly ugly word of “rape” is by far the best word to use to describe what they are doing to America. They are pushing themselves upon us and forcing us into something we don’t want or like that is damaging and will leave us forever scarred. The word aptly describes the violence and violation of their actions. No gurantees that I won’t use it again. Like you, I too get mad… and that word is perfect in some cases.

        10) I see the danger of what you warn about. But if the GOP remains hopeless and corrupt… I’m going full on 3rd party. It may cost us a few more elections, but I’m sticking by my convictions and will support any party that is truly conservative and has America’s interests before their own. My hope is that if we are stuck with having to go that route… that enough people also join on so as to make it viable and have a real chance at being successful.

        I hope that adequately addresses your concerns.

        • Indiana

          1) I disagree. President Obama and his campaign were more prepared in the sense that they spent millions demonizing Mitt Romney during the summer of 2012. Not to mention all of the candidates were all damaged because of their slaughter of each other and they were open to gaffes in the 20 million debates we had. While I also believe that we need someone who is conservative and can speak conservatism fluently, I don’t think that would have been enough against this drive by media. I think for now on when a candidate gets their character destroyed by the democrats and the media the phrase should be “You got the Mitt”.

          2) Those are nice phrases there but I do think that the GOP wants to do this (Sean Hannity put it into perspective tonight with Conservative Arizona Rep. David Schweikert and Establishment Oregon Rep. Greg Walden) so that they can attempt to force the Senate to pass a budget and when they don’t the Democratic Senators that are up next year in red states will be associated with an obstructionist Senate (We know it, not a lot of others do).

          3) I believe than the next step would be the partial shutdown of the government. We need to in that time get the message out that a partial shutdown is not the end of the world. While the national media can cover for them I don’t think it could be covered up in Senatorial Debates next year or political ads. I am guessing that as long as the left controls our education system, history will mark us as extremist so again nice words but this is an extremely uncivil time.

          4) What I am saying is that we cannot afford to be divided at this time. Don’t you see that is exactly what Barack Obama wants? He wants us to destroy ourselves and if the House GOP establishment and Tea Party don’t stand together then they won’t stand a chance against Obama in 2014. What I meant was take the damn Senate. I think the House can hold their numbers but we need to take the damn Senate.

          Democrats perhaps vulnerable in 2014:
          Senator Mark Begich of Alaska – I would like to see a challenge again by 2010 candidate Joe Miller (He won the GOP nomination but he and the Democrat lost against incumbent Senator Lisa Murkowski who staged a successful write-in candidacy)

          Senator Mark Pryor of Arkansas – Arkansas Lt. Governor Mark Darr announced his campaign but there is no indication of how that race may go. Pryor was re-elected in 2008 with 80% of the vote without a GOP contender.

          Senator Mary Landrieu of Louisiana – I would like to see a challenge from recently ousted TEA Party Rep. Jeff Landry (R-LA)

          Senator Kay Hagan of North Carolina – I would like to see a challenge from Rep. Renee Ellmers (R-NC), I believe she is a TEA Party person. She shows promise.

          Senator Jay Rockefeller of West Virginia (retiring) – Rep. Shelley Moore Capito (R-WV) announce her campaign and she seems to be likely to take that seat (She is pro-choice)

          On the bubble:

          Senator Max Baucus of Montana

          Senator Tom Harkin of Iowa – I would like to see a challenge from Lt. Governor Kim Reynolds

          Senator Tim Johnson of South Dakota – Fmr. Governor Mike Rounds has announced his campaign.

          Senator Mark Warner of Virginia – I would like to see a challenge from Governor Bob McDonnell. Depending on how the 2013 Gubernatorial Election goes for Attorney General Ken Cuccinelli against Fmr. DNC Chair Terry McAuliffe, I am unsure if we can take back Virginia. Or Bishop E. W. Jackson (Black Pastor who ran in the GOP primary for the U.S. Senate in Virginia in 2012 but lost to George Allen who lost to Tim Kaine.

          5) How about everyone cancel their Comcast (they own NBC). Conservative talk already has the highest numbers in radio yet that didn’t help. From what I heard on Rush’s show this week, most people get their news from local stations or the national news (NBC, CBS, ABC and most public places put on CNN) and none carry the real news so it may be impossible to make them irrelevant.

          6) Ok, you talked about the Bible right there. I am certain that my generation is lost to the liberals. My generation will laugh at you because you mentioned the bible. They are also in support of gay marriage, abortion, free contraception and the legalization of marijuana. They believe the systems of government in Canada and Europe (especially Scandinavia) prove that socialism works.

          7) I know that many believe that conservatives stayed home and i want to believe that too. I must object though because we need to appeal to independents as well in case we are wrong about our numbers (Many more people consider themselves independent. They also consider themselves fiscally conservative but socially liberal).

          8) What would you think if our candidate, let’s say for example Governor Sarah Palin, went to a fundraiser hosted by GOProud, which is an organization of gay republicans? What if she announced that while she is against same-sex marriage she could be open to civil unions, would you as a social conservative still support her? When we ban gay marriage aren’t we pushing our opinions? At least with civil unions they would be equal under the law.

          9) “It may cost us a few more elections, but I’m sticking by my convictions and will support any party that is truly conservative”

          It will cost us mostly every election, you will never fully find someone 100% conservative.

          “My hope is that if we are stuck with having to go that route… that enough people also join on so as to make it viable and have a real chance at being successful”

          Third Party people will never be viable candidates. Remember, many Libertarians like Gary Johnson are pro-gay marriage.
          ———————————————————————-
          I hope that adequately addresses your concerns.

          • Sober_Thinking

            Lengthy response… :)

            1) I disagree too… The GOP primaries were indeed brutal… but I believe a true conservative would have done MUCH better than a true moderate.

            3) “I believe than the next step would be the partial shutdown of the government. We need to in that time get the message out that a partial shutdown is not the end of the world.” Agreed.

            4) You offer some great insights here. I know you are against a 3rd party and that’s fine. But I’m starting to truly believe that the many in the Republican party have already become “one with the Borg”. There are too many examples in the last 4 years that I could point to, in order to back up that assertion. Most recently, the GOP caved on the debt ceiling (again) and got nothing for it. Good strategy? Time will tell. I’m starting to believe the Republicans are infested too… the Democrats are gone (with the possible exception of Joe Manchin). I will no longer vote for or support corruption. And I don’t know if Republicans can turn the corner or not… we’ll see in 2014. If they take out the trash… then perhaps it’s not too late.

            5) Good suggestion. The low-information voters do get their news from the dung heap of the mainstream media… and that has to change.

            6) They may snear at the mention of the Bible… I understand. But that is the one truth that can pierce the darkness and the one thing that makes any sense. Only God and His Word will change people’s hearts and renew their minds. And Biblically-speaking, fewer and fewer will accept the Lord and His word as time goes on… so we are trying to save as many as we can before the end.

            7) I hear ya. I’m Independent. Mitt Romney was a very unattractive person to vote for… so was McCain and W. If in 2016, we’re stuck with a Chris Christie or some other lump again… I’m voting 3rd party… even if it’s Libertarian (and I’m not Libertarian). I refuse to be stuck with another jack wagon, lame candidate. Mitt is a great person… but… And I know you don’t agree with me on this, fine. But if we manage to get a milk toast moderate on the throne… that person won’t be significantly different or better than a damned Democrat. Things won’t change dramatically enough for people to notice. Look at how long Reagan’s affect lasted… We need another game-changer in office.

            8) Call me closed-minded or whatever. I do not support gay marriage, let alone a gay lifestyle. I have friends who are gay and want them to be happy… but that lifestyle is an abomination (says God through His Word). True conservatives will not be popular in the gay community for a stance like that. That’s one social stance that will likely hurt a candidate. The scenario you propose is likely… and it’s watered down enough for a political run… In that case, if that was the only chink in the armor of a conservative candidate, I might be willing to vote for that candidate (because there is no perfect conservative candidate right now).

            9) This may be true… but I’m sick of voting for 3rd or 4th or 5th or 6th best. A third party featuring a Tea Party candidate is a much more palatable choice for me. I won’t accept a phoney again.

  • Rush_Fan

    In the above audio, Mark referred to John Williams’ Shadow Government Statistics. I came across an interview (audio) with John Williams where he discusses how the media and Wall Street portray the economy in a positive light, even when the reality is much less than positive. Here is the audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_John_Williams.html

    Right Click on Listen to MP3 to the left of John Williams’ name to download the interview.

  • OldmanRick

    Yet the dims want to spend, spend, spend. Did they ever take a basic course in accounting and economics? Seems not. What brought the USSR to its knees? It was spending without the funds to pay the bills. Obama is playing an economic form of Russian roulette that the US can’t afford to play because it can’t pay.

  • http://navalwarfare.blogspot.com/ Libertyship46

    I wouldn’t vote for an increase in the debt limit until Harry Reid actually passes a budget in the Senate. This is disgusting that Reid and his minions refuse to do this, even though our laws say he has to pass a budget! No budget, no debt increase. Maybe then the Democrats in Congress will start playing by the rules.

  • unintimidated

    I’ve decided it’s time to do something. Therefore, I’ve been calling Congressmen, Governor’s office & now on my list is the mainstream media. It’s easy to get their information. Just google it. We’re at a critical point, & if nothing is done, we’ll regret it. So, I encourage you to bombard them with calls. If you call after hours, just leave a message.

  • mediaaccess1

    Mark over Armstrong!!

  • http://pulse.yahoo.com/_GFZ4NQSAULWUMOKXDI4Y7YJGZU Eric

    Funny, I’m currently reading the biography “The Real Thomas Jefferson”, and just covered the time period when Hamilton instituted the National Bank when Jefferson was Secretary of State. Here is an excerpt that eerily reminded of what Levin is talking about:

    “Finally, the Secretary of State was opposed to Hamilton’s financial program because it increased the national debt while claiming to do just the reverse. The whole system was designed “as a puzzle”, he said, “to exclude popular understanding and inquiry.” He was convinced that Hamilton had purposely complicated the system so that “neither the President nor Congress should be able to understand it, or to control him.”