Archives for 2011

HELP PASS BALANCED BUDGET AMENDMENT.  SIGN PETITION NOW!

We just changed our petition words.  UPDATED PETITION!  Pass the Balanced Budget Amendment~ Don’t Tax Churches or Charities~ Don’t Raise the Debt Ceiling~ Cut Spending without Tax Increases~ Pay Down the National Debt.  Please select~ sign~ and WE WILL FAX your petition to all 535 members of Congress (saving you time!)

Rick Perry slams Fed plan to TAX YOU by printing Trillions more dollars.  But "Print and Spend" Bernanke wants to help re-elect "Borrow and Spend" Obama.  

Presidential Candidate Rick Perry (R-TX) is criticizing a risky plan by the Federal Reserve to print Trillions more US Dollars and make all money in your bank accounts worthless. Fed Chairman Ben Bernanke may soon begin "Quantitative Easement 3" (QE3) to run the printing presses to fund our bankrupt U.S. Treasury~ because President Obama will not cut spending~ and Congress has not yet voted for a Balanced Budget Amendment.  

Huffington Post reports: "Earlier this week~ Goldman Sachs researchers published a note saying that there is ‘no question’ Bernanke will have enough votes on the Federal Open Market Committee to implement QE3~ and that they ‘fully expect him to use these votes…if he views it as necessary.’ Analysts from Harvard~ Credit Suisse~ Standard Life and a number of other institutions have also said that QE3 seems like a distinct possibility."

But printing new dollars to fund our bankrupt U.S. Treasury would hurt the U.S. economy~ causing an even bigger spike to inflation and gold prices.  

Rick Perry suggested Bernanke would be "almost treasonous" to ease monetary policy further and that Texans would treat him "pretty ugly."  The Wall Street Journal agreed with Rick Perry’s frank assessment of fiscal policy:  "His poor choice of words aside~ the Texas Governor is right to put monetary policy front and center in the 2012 Presidential debate~" the WSJ stated in an editorial. 

Printing new money is just like raising everybody’s taxes~ because it makes your existing money worth less to buy real commodities.   But Perry warned the Fed is debasing the dollar with its massive expansion of the money supply.  "Here we have a Presidential candidate~ a Texas populist no less~ laying out a position in favor of sound money~" said the WSJ.  

A more responsible policy of "not printing money" was endorsed by both Philadelphia Fed President Plosser and Dallas Fed President Fisher~ who apparently support Rick Perry’s more responsible plan.  Sadly~ Bernanke’s plan to print more dollars could help President Obama get re-elected~ by postponing the recession~ but ultimately causing a massive crash of our nation’s economy after the November 2012 election.

The Bottom Line:  Our nation’s massive debt problem is caused by too much government spending~ which has bankrupt our treasury~ forcing massive printing of dollars~ hurting every American by making your dollars worthless.  The only real solution is to stop Obama’s "borrow and spend" habit~ and stop Bernanke’s "print and spend" habit~  by passing a Balanced Budget Amendment to the U.S. Constitution. Let’s demand Congress pay off the massive debt right now~ by faxing all 100 Senators and 435 Reps.

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

China: "U.S. Dollar discarded by world."   Greenspan:  "We can always print money." More Proof Obama caused Stock Market Crash…in their own words:  

The Stock Market crashed hard again Monday~ following the news that the S&P Global Credit Report downgraded America’s ability to ever repay its mounting debt from AAA to AA+ for the first time in history. The Dow dropped -5.5%~ the S&P -6.7%~ the NASDAQ -6.9% in one day~ all records since 2008.  In response to this disaster President Obama went golfing~ and later said casually~ "Markets will rise and fall~" blaming S&P~ not himself.

Former Fed Chair Alan Greenspan shockingly announced: "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default~" on NBC’s Meet the Press.  (Hint to AG: That would make dollars worthless!)

China called upon the world to dump its U.S. dollars and buy Yuan.  In comments emailed to CNBC~ Guan Jianzhon
g~ chairman of Dagong Global Credit Rating~ said the U.S. dollar will be "gradually discarded by the world~" and the "process will be irreversible."

China’s Yuan jumped .23% against the U.S. Dollar Monday~ the largest one day jump for Chinese currency this year.  At 6.4 Yuan to 1 Dollar~ the Yuan has risen 6.2% against us since June 2010~ when China effectively ended its currency’s peg to the dollar.  (Soon we’ll be making toothbrushes for their WalMarts~ not the other way around.)  

Why did S&P downgrade America’s ability to every repay their debt?  In their own words~ "Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a ‘AAA’ rating.  We lowered our long-term rating on the U.S. because…near-term progress containing the growth in public spending~ especially on entitlements~ or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade."

S&P had warned Obama that unless $4Trillion was cut from the $10Trillion projected increase~ they would downgrade us.  Obama wanted zero cuts~ but Speaker Boehner forced $2.4Trillion so-called cuts~ (which are not real cuts~ but in S&P’s own words~ "The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021.")  By 2021 the national debt will grow to $22T from the current $14.6T.   S&P warned:  "The outlook on the long-term rating is negative.  As our downside alternate
fiscal scenario illustrates~ a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again" TOWARD JUNK BOND STATUS.

Senate Majority Leader Harry Reid (D-NV) lied to the world~ claiming S&P’s words above prove Democrats were right~ when all last month they fought to RAISE the debt with bigger government spending~ and Democrats repeatedly avoided a vote on the Balanced Budget Amendment to the Constitution.  Let’s tell Congress to PASS THE BBA NOW!

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

OBAMA TO BLAME FOR STOCK MARKET CRASH BY CRUSHING DEBT

Under the weight of President Obama’s crushing national debt and massive government spending~ the stock market crashed 500 points yesterday~ the biggest loss since 2008~ the 8th consecutive daily loss~ as the U.S. dollar continues to tank~ and gold prices rose to an all-time record $1681 per oz.–> 

Because Obama and Democrats refused major spending cuts (and still plan to RAISE the national debt by $8Trillion dollars to $22T by 2022)~ China’s top credit-rating agency yesterday downgraded the U.S. ability to pay its future debt from A+ to A~ while U.S. based Weiss already put the U.S. just two notches above junk.  Three other major credit rating agencies predicted a "future" downgrade.  NASDAQ.com reported "A downgrade would increase the borrowing costs. JP Morgan already estimated a downgrade would cost the U.S. government $100 billion a year. But the buck doesn’t stop there~ the higher interest rate and payments would trickle down to state~ local governments~ business and individual as well since most loan interest rates are benchmarked against the U.S. Treasury rate."  

Higher interest rates =  more home and car reposessions~ more business bankruptcies~ massive job losses~ and stagflation is coming.  (Is this hope and change?)   We’re facing a Depression~ not Recession~ unless both the House and Senate vote 2/3 each to pass a Balanced Budget Amendment and STOP running up Obama’s massive national debt.  

The liberal media lied to America~ claiming Obama had only two options last week: either raise the debt ceiling or default on our national debt. (Here’s a 3rd option: Pay off the debt.)

Heroic Senator DeMint (R-SC)~ one of the few who voted against~ explained the debt deal: "The final agreement~ which the President signed into law:
   — Raises the debt limit by as much as $2.4 trillion;
   — Allows the debt to continue to grow by $7 trillion over the next decade;
   — Creates a new~ 12-member "super-committee" with the power to force major tax increases through Congress;
   — Threatens our AAA bond rating; and
   — Never balances the budget
Washington is addicted to spending and it’s a bipartisan addiction." 

Congressman Ron Paul (R-TX) explained the debt deal:  "the ‘cuts’ being discussed are illusory…not cuts from current amounts being spent~ but cuts in projected spending increases.  This is akin to a family ‘saving’ $100~000 in expenses by deciding not to buy a Lamborghini~ and instead getting a fully loaded Mercedes~ when really their budget dictates that they need to stick with their perfectly serviceable Honda."

Paul continued:  "Our revenues currently stand at approximately $2.2 trillion a year…our outlays are $3.7 trillion and projected to grow every year…[In] 2004 for federal outlays [were] $2.2 trillion~ and the government was far from small that year.  If we simply returned to that year’s spending levels~ which would hardly be austere~ we would have a balanced budget right now…In Washington terms~ a simple freeze in spending would be a much bigger ‘cut’ than any plan being discussed."

58% of Democrats polled loved the debt deal~ when only 26% of Republicans did.  Feel free to voice your opinion on the debt deal by signing our fax petition to all 535 Congressmen again today.  (They will vote this fall on the Balance Budget Amendment.)

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

DEMOCRAT-LED SENATE REJECTS "CUT~ CAP AND BALANCE."

The Senate voted 53-47 last Saturday to reject "Cut~ Cap and Balance~" the only existing budget plan to balance the federal budget without tax increases on churches.  

Thanks to YOUR faxing efforts the House of Representatives passed Cut~ Cap and Balance by a 234-190 vote~ with nearly all small-government Republicans for~ and nearly all big-government Democrats against.   Interestingly~ two Republican Presidential candidates Michele Bachman (R-MN) and Ron Paul (R-TX) voted against the bill~ because it didn’t cut enough government spending or repeal Obamacare.

The "Cut~ Cap~ and Balance Act" H.R. 2560 could reduce the debt by $6 Trillion~ but President Obama and Senator Majority Leader Harry Reid (D-NV) both declared their intention to stop or veto any plan that doesn’t raise taxes on the Senate floor.  

Now Compare these four plans that compete with "Cut~ Cap and Balance":   
—Obama’s plan raises the national debt $8Trillion from $14Trillion to $22Trillion by 2022.  
—McConnell’s plan lets Obama raises the debt ceiling by $2.4 Trillion next year~ cutting only $1.5 Trillion from Obama’s $8T raise over 10 years~ making our future debt $20.5T.   
—The "Gang of Six" plan was not ready by the August 2nd deadline~ but could raise $1 Trillion in taxes (including taxes on church offering plates) with just $2.7 Trillion in spending cuts~ reducing Obama’s $8T ten-year deficit increases by $3.7T~ but still increases the national debt from $14T to an irresponsible $18.3T by 2022.  
—Hero Conservative Senator Tom Coburn (R-OK)’s plan proposed $9 Trillion in real spending cuts~ which would eliminate Obama’s $8T growth and paying down the national debt by $1T (reducing from $14T to $13T)~ but he’s the only one who’d vote for it.   

Only the Cut~ Cap~ and Balance plan would guarantee future balanced budgets~ because only that plan recommends a Balanced Budget Amendment to the Constitution~ controlling all future Democrat spending binges.  Its $6Trillion in recommended spending cuts does NOT include $2.5T we could save by cutting Obamacare~ so enter Michele Bachmann…

—Bachmann’s plan merges a $2.5T Obamacare repeal AND a $6T Cut~ Cap~ Balance plan~ saving $8.5T~ without raising the debt ceiling!   The national debt moves from $14T to $13.5T over 10 years~ and if the economy grows as it should~ we could someday ELIMINATE the $13.5T national debt entirely~ reducing it to ZERO.  

All in favor of the Bachmann plan~ say aye?  AYE!  But first let’s petition the Senate to pass Cut~ Cap~ and Balance this Saturday…

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

OBAMA PLANS TO TAX CHURCH OFFERING PLATES $500 BILLION

Secret Decoder:  When President Obama says "tax millionaires" he means tax churches.   When he says "close loopholes" he means eliminate charitable deduction exemptions~ which taxes church offering plates and cripples the poor helped by churches~ replacing private charities with government welfare~ to pay his massive debt from Obamacare.

Associated Press explained what Obama really means when he says he wants to raise taxes by "eliminating tax loopholes for millionaires and billionaires":

"Among the tax increases proposed by the White House and the amount they’d raise over the next decade:

"- Limit itemized deductions~ including those for charitable contributions and mortgage interest~ for families and small business owners with high incomes. Under current law~ if a taxpayer’s top income tax rate is 35 percent – the highest rate – a $100 deduction is worth $35 in tax savings. For several years~ Obama has proposed limiting itemized deductions for people making above $250~000 to 28 percent~ meaning a $100 deduction would be worth only $28 in tax savings at most. That would raise $293 billion~ according to congressional estimates."  

Did you catch that?  Obama would raise $293 billion by taxing church contributions.

"A similar proposal would gradually phase out itemized deductions for people making more than $500~000~ raising ‘in the ballpark of $210 billion~‘ said Maryland Rep. Chris Van Hollen~ one of the House Democratic negotiators in the Biden talks."

Did you catch that?  Democrats want $210 billion more taxing itemized deductions.

$293 Billion + $210 Billion = $503 Billion in new taxes~ by taxing church donations.

But where will the money go?  AP says part of the Debt Ceiling problem was created by Obamacare~ which just quadrupled the number of Medicaid welfare recipients:  

"President Barack Obama’s health care law would let several million middle-class people get nearly free insurance meant for the poor~ a twist government number crunchers say they discovered only after the complex bill was signed…A married couple could have an annual income of about $64~000 and still get Medicaid~ said officials…for the Health and Human Services department….It might be compared to allowing middle-class people to qualify for food stamps.…That $64~000 would put them at about four times the federal poverty level~ which for a two-person household is $14~710 this year."  EARN FOUR TIMES THE POVERTY LEVEL? &nbs
p;You qualify for welfare.

Taxing churches who help the poor~ simply to replace charities with government welfare?   This is how Obama wants to re-structure taxes~ while negotiating with Speaker Boehner.  (And he’s increasing our national debt while doing it.) Let’s take a stand against taxing churches to raise the debt ceiling~ period.  

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

MORE PROOF OBAMA PLANS TO TAX CHURCHES AND CHARITIES

President Obama continued his attack on American values and Churches by releasing his updated budget plan~ which now includes indirectly taxing American Churches and Charities by eliminating tax-deductions for charitable giving~ and home-mortgages.

CNN Money News just reported "The president once again proposed in his budget to curtail high-income earners’ tax deduction for mortgage interest payments and charitable contributions. Under his proposal~ taxpayers in the 33% and 35% tax brackets would only be able to deduct their [church or charity] contributions and mortgage interest payments at the 28% rate."

In other words~ Obama wants to take money out of your church’s offering plate~ and hurt the helpers~ damaging their ability to serve the poor and preach the gospel of Jesus Christ.   People in those brackets who donate to churches will be effectively double-taxed~ paying more taxes because they give to charity~ which directly decreases their ability to donate.  

"While charities don’t have the same spending power on lobbyists~ they also plan to make their voices heard~" said CNN~ quoting Tim Delaney~ head of the National Council of Nonprofits.  "Limiting the charitable deduction will likely curtail large donations to charities for the arts~ environment~ education and other sectors [i.e. churches].  This would come at a tough time for many charities since they are seeing donations drop~ while the demand for their services rises."

CNN reported the 54 most generous donors in America gave only $3.3 billion in 2010~ the smallest sum since 2000~ according to a ranking compiled by The Chronicle of Philanthropy and Slate magazine.  "Charities…are very reliant on donations from the wealthy~ who like their tax breaks.  The deduction isn’t the sole motivation~ but it is significant~" said Ken Berger~ chief executive of Charity Navigator~ which evaluates non-profits’ fiscal operations.

Can you believe the gall of this President?  How dare he try to tax church offering plates!   Rather than reduce government spending~ he wants to raise the national debt ceiling limit~ keep wasteful government spending~ raise taxes~ and now tax your church offering plates.   Let’s take a stand by demanding Congress reverse this evil plan.  Sign our brand new petition today! 

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

Friends~ our nation stands in grave danger of bankruptcy that would hurt every American. Let’s take a stand today~ and demand Congress pass the Balanced Budget Amendment.   

P.S. Time is urgent!  Congress will soon consider raising the national debt ceiling~ rather than cutting wasteful government spending programs.  Please sign our petition today!   Prefer to donate by mail?  Please mail paper check or money orders to:  The Pray In Jesus Name Project~ PO Box 77077~ Colorado Springs~ CO  80970.  

SELECT HERE TO SIGN new PETITION TO STOP TAXING CHURCHES~ STOP RAISING THE NATIONAL DEBT CEILING~ AND BALANCE THE BUDGET~ and we will fax 535 Members of the House and Senate instantly~ (saving you much time!)

Disclaimer: The views of Chaplain Klingenschmitt~ who was vindicated by Congress after being honorably but involuntarily discharged from the Navy in 2007 after facing court-martial for praying "in Jesus name" in uniform~ are his own personal views~ not the views of any political party~ government~ or organization.