The Freedom Factory

This article is dedicated to the growing segment of American society that is awakening to the ideas that we are increasingly overworked and overtaxed. My goal is to determine an effective tax burden on the average middle-class American. I will leave it to the reader to judge relative severity of the burden as measured against associated “benefits” to which he is “entitled” from the system. Continue Reading

We are moving closer towards a political economy every day. Every dollar borrowed, taxed, printed, and spent by government really comes from the private sector.  Trillions of dollars of national resources are being allocated by politicians and bureaucrats towards things they claim will benefit our economy. Congress just passed a $3.6 trillion budget ($1.2 trillion in deficit), and combined the Federal Reserve and Treasury have dumped $13 trillion into the economy in the last 16 months. What we must all ask ourselves right now is whether or not we trust government with our money? Continue Reading

White House budget found to have “fuzzy math” on war estimates, new role for federal government to provide broadband Internet, U.S. gives Palestinians $900 million, Harvard economist says bailing out homeowners is a mistake, 4th Obama appointee found evading taxes, bank Nationalists look to Sweden, temporary nationalization of mortgage industry now permanent, 1 in 31 adults behind bars in U.S., Australia leaves benchmark rate unchanged, and Bush memos claim unfettered rendition powers…just the latest in your Freedom Under Fire Report! Continue Reading

Will Washington D.C. have new legislative rep? Top technical trader says now is the time to buy stocks, Fed Chief vows to flood economy with dollars, U.S. plans to give away $900 million to Gaza, home price index declines sharply, lobbyists want more bailouts, combat troops exiting Iraq in 2010, scientists often confuse fact with opinion, and this is not your father’s country anymore…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Senate Advances Bill to create Seat in House for Washington. The Senate advanced a proposal to give residents of Washington, D.C., a voting member of the U.S. House of Representatives. This motion went forward with a 62-34 vote, which would also give Utah a fourth representative. President Obama was co-sponsor of this measure while acting as Illinois Senator. Critics cite the heavy leaning Democrat base in Washington as reason for Democrats pushing for the measure. Another seat in the House would further tip the voting balance in their favor.

Top Technical Trader Predicts Near Term Rally for Stocks. Elliot Wave International Inc.’s Robert Prechter, who advised shorting U.S. stocks three months before the bear market began, is recommending investors end that bet and buy stocks. He warned of a “sharp and scary” rebound for anyone still wagering on a retreat. “This is an environment of escalating financial chaos. Our main job is to keep the money we have. If we exit [close short positions] now, we will do that.”

Bernanke Vows to Use Every Tool to Stem Financial Crisis. Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee today that he is “committed to using all available tools” to stem the financial crisis and unfreeze credit markets. You can expect a good deal of money printing to accompany this statement. Buy gold.

U.S. Plans to Give Away $900 million to Rebuild Gaza. The U.S. plans to offer more than $900 million to help rebuild Gaza after Israel’s invasion. The funds are supposed to be diverted to the U.S.-backed Palestinian Authority, circumvented from Hamas, which currently controls Gaza. Senator Clinton intends to announce this give-away at a conference in Egypt next week, but the measure still needs to pass Congressional vote.

Home Price Index Shows Sharp Declines at end of Year. The Case-Shiller home price index measured an 18.5% year-over-year decline in December of last year for 20 major metropolitan areas. Housing prices dropped 2.5% from November to December. The real estate crisis is not behind us just yet.

Lobbyists Press for Billions more Added to Bailouts. The government faced mounting pressure on Monday to put billions more in some of the nation’s biggest banks, two of the biggest automakers, and the biggest insurance company, despite the billions is has already committed to rescuing them. Upwards of $200 billion have already been committed to AIG, Citigroup, General Motors, and Chrysler, but combined these companies, alone, are requesting tens of billions more.

U.S. Combat Troops Evacuating Iraq mid-2010. President Obama intends to remove all combat troops from Iraq by August, 2010. An estimated 30,000 to 50,000 soldiers will remain in the country to advise and train Iraqi security forces and to protect U.S. interests.

Scientists Confuse Opinion with Fact in Politics. Dr. Pielke, a professor in the University of Colorado’s environmental studies program, discusses his book “The Honest Broker.” The premise is that most scientists are fundamentally mistaken about their role in political debates. Dr. Pielke says they jeopardize their credibility while impeding solutions to problems like global warming. “Too often,” Dr. Pielke says, “they [scientists] pose as impartial experts pointing politicians to the only option that makes scientific sense. To boster their case, they’re prone to exaggerate their expertise (like enumerating the catastrophes that would occur if tehir policies aren’t adopted), while denigrating their political opponents as ‘unqualified’ or ‘unscientific’.” The policy areas cited as examples in his book are global warming, and issues related to population growth.

This is Not Your Father’s Country Anymore: Buckle Up for “Shared Sacrifice”. CNN correspondent Jack Cafferty laments on the changes he has seen in America throughout his life. He cites that the national debt is fast approaching $12 trillion, with just the interst payment reaching $500 billion a year. On top of this Cafferty adds the “tens of trillions in unfunded liabilities” for Medicare and Social Security, with trillions more debt coming down the line with the myriad bailout measures. With such a long history of bad policy, bad government management, the only eventuality is to prepare for a “shared sacrifice” in dealing with lower lifestyle expectations. Why would productive, intelligent young folks accept a “sacrifice” forced upon them by the bad decisions of previous generations? The reality is that those you most want to stay in this country will likely find cause to leave.

With all the speculation on a government takeover of the banking industry, including Alan Greenspan’s statement that “the U.S. may have to temporarily nationalize some banks until the industry is restructured,” we should do some serious soul searching. America has a long tradition of respecting property rights and restricting government power from the private domain. Overt nationalization would be unconstitutional, but change is in the air… Continue Reading

Health care is a problem in America. Costs have been growing out of control over the last several decades, and large segments of the population do not have health insurance. America was once touted as a beacon of innovation, and a pioneer for prescription drugs, medical procedures, devices, and other life saving developments that have been exported to the rest of the world. Now the world looks at our health system as costsly, inegalitarian, and unsustainable. What went wrong and how can we improve? Continue Reading

Government works a certain way. When it comes lobbying the general principal is that political action groups comprised of various interests donate funds to campaigns that promise favorable legislative agendas. What this means is that we can go beyond the rhetoric and evaluate future policy likelihood based on campaign contributions. When it comes to healthcare, Barack Obama holds a significant lead over rival John McCain, so can we really expect reform regardless of who wins?

Continue Reading

The Wall Street Journal reports today that $694 million has been returned to the Medicare trust funds over the last three years, found by contracted audit agencies. The Medicare and Medicaid Services agency has contracted with private auditors to review a total of $317 billion in claims just from the states of New York, California, and Florida. The auditors were looking for improper payments, of which they discovered 0.22% of were incorrect. That percentage doesn’t sound like much, but returning $694 million to the trust funds is an accomplishment for which government should be praised.