Thomas L. Freidman’s Op-Ed in today’s New York Times, a lucid appraisal of an absurd VP selection for McCain and Justice Oliver Wendell Holmes: “I like paying taxes. With them I buy civilization.”

The following is an Op-Ed piece by ‘From Beirut to Jerusalem’ author, Thomas L. Freidman, published today in the New York Times: (see the original by clicking here.)

Criticizing Sarah Palin is truly shooting fish in a barrel. But given the huge attention she is getting, you can’t just ignore what she has to say. And there was one thing she said in the debate with Joe Biden that really sticks in my craw. It was when she turned to Biden and declared: “You said recently that higher taxes or asking for higher taxes or paying higher taxes is patriotic. In the middle class of America, which is where Todd and I have been all of our lives, that’s not patriotic.”

What an awful statement. Palin defended the government’s $700 billion rescue plan. She defended the surge in Iraq, where her own son is now serving. She defended sending more troops to Afghanistan. And yet, at the same time, she declared that Americans who pay their fair share of taxes to support all those government-led endeavors should not be considered patriotic.

I only wish she had been asked: “Governor Palin, if paying taxes is not considered patriotic in your neighborhood, who is going to pay for the body armor that will protect your son in Iraq? Who is going to pay for the bailout you endorsed? If it isn’t from tax revenues, there are only two ways to pay for those big projects — printing more money or borrowing more money. Do you think borrowing money from China is more patriotic than raising it in taxes from Americans?” That is not putting America first. That is selling America first.

Sorry, I grew up in a very middle-class family in a very middle-class suburb of Minneapolis, and my parents taught me that paying taxes, while certainly no fun, was how we paid for the police and the Army, our public universities and local schools, scientific research and Medicare for the elderly. No one said it better than Justice Oliver Wendell Holmes: “I like paying taxes. With them I buy civilization.”

I can understand someone saying that the government has no business bailing out the financial system, but I can’t understand someone arguing that we should do that but not pay for it with taxes. I can understand someone saying we have no business in Iraq, but I can’t understand someone who advocates staying in Iraq until “victory” declaring that paying taxes to fund that is not patriotic.

How in the world can conservative commentators write with a straight face that this woman should be vice president of the United States? Do these people understand what serious trouble our country is in right now?

We are in the middle of an economic perfect storm, and we don’t know how much worse it’s going to get. People all over the world are hoarding cash, and no bank feels that it can fully trust anyone it is doing business with anywhere in the world. Did you notice that the government of Iceland just seized the country’s second-largest bank and today is begging Russia for a $5 billion loan to stave off “national bankruptcy.” What does that say? It tells you that financial globalization has gone so much farther and faster than regulatory institutions could govern it. Our crisis could bankrupt Iceland! Who knew?

And we have not yet even felt the full economic brunt here. I fear we may be at that moment just before the tsunami hits — when the birds take flight and the insects stop chirping because their acute senses can feel what is coming before humans can. At this moment, only good governance can save us. I am not sure that this crisis will end without every government in every major economy guaranteeing the creditworthiness of every financial institution it regulates. That may be the only way to get lending going again. Organizing something that big and complex will take some really smart governance and seasoned leadership.

Whether or not I agree with John McCain, he is of presidential timber. But putting the country in the position where a total novice like Sarah Palin could be asked to steer us through possibly the most serious economic crisis of our lives is flat out reckless. It is the opposite of conservative.

And please don’t tell me she will hire smart advisers. What happens when her two smartest advisers disagree?

And please also don’t tell me she is an “energy expert.” She is an energy expert exactly the same way the king of Saudi Arabia is an energy expert — by accident of residence. Palin happens to be governor of the Saudi Arabia of America — Alaska — and the only energy expertise she has is the same as the king of Saudi Arabia’s. It’s about how the windfall profits from the oil in their respective kingdoms should be divided between the oil companies and the people.

At least the king of Saudi Arabia, in advocating “drill baby drill,” is serving his country’s interests — by prolonging America’s dependence on oil. My problem with Palin is that she is also serving his country’s interests — by prolonging America’s dependence on oil. That’s not patriotic. Patriotic is offering a plan to build our economy — not by tax cuts or punching more holes in the ground, but by empowering more Americans to work in productive and innovative jobs. If Palin has that kind of a plan, I haven’t heard it.”

Watch this video: Inspiring us to restore the Republic. God Bless America

Inspiring Video to give you hope for Restoring the Republic:

Miss Philippines contestant takes John McCain’s and Miss Teen South Carolina 2007, Laura Caitlin Upton’s crown with the awesomest pageant answer of all time!

for reference, here is former title holder, Laura Caitlin Upton’s answer (who deserves the crown??? ….you decide, vote in the comment section here :)) hit play button below ::

Click here to see a transcript and more on Laura Caitlin Upton’s national TV PR campaign to “explain the answer….” and be defended by Matt Lauer on the Today Show

And Finally…John McCain bids for the crown in this gem of an answer to a question posed to him by our man Ron Paul (hit play on video below to see McCain’s answer):

Cam Cardow National Debt Cartoon, again.

A Cam Cardow National Debt Cartoon, and U.S. National Debt Clock, here…

2007 U.S. Financial Report and Government Accountability Office memo warn of tough times coming for American tax payers.

Found this at Steve Skojec’s excellent blog, here (post called: “economic stimulus package: made in China.”):

According to the 2007 U.S. Financial Report, here’s Government Accountability Office’s included memo that tries to give the lowdown on the unaccounted for future liabilities:

“Fiscal year 2007 marked the second year in which the Statement of Social Insurance has been presented as a basic financial statement. As noted above, this year, we were able to render an unqualified opinion on the 2007 Statement of Social Insurance. This is a significant accomplishment for the federal government. This statement shows that projected scheduled benefits exceed earmarked revenues by approximately $41 trillion in present value terms for the next 75-year period.

Considering this projected gap in social insurance, in addition to reported liabilities (e.g., debt held by the public and federal employee and veterans benefits payable) and other implicit commitments and contingencies that the federal government has pledged to support, the federal government’s fiscal exposures totaled approximately $53 trillion as of September 30, 2007, up more than $2 trillion from September 30, 2006, and an increase of more than $32 trillion from about $20 trillion as of September 30, 2000.

This translates into a current burden of about $175,000 per American or approximately $455,000 per American household. (page 33)”

And then this:

“Unsustainable Debt…”

“As noted earlier, the Government must borrow from the public to finance any gaps between expenditures and revenues. Increased borrowing leads to higher debt service (net interest) which in turn can make it more difficult to balance expenditures and revenues in the future. Chart J shows that by 2030, public debt is projected to rise to 68 percent of GDP, surpassing the non-wartime peak of 49 percent in 1993. By 2040, public debt is projected to be 128 percent of GDP, well above the World War II peak of 109 percent, and by 2080, debt is projected to approach 600 percent of GDP.

At some point before the debt reaches such unprecedented levels, the world’s financial markets would likely cease lending to the United States. Although the precise point at which this would occur is unknown, these projected debt levels cannot be sustained indefinitely. Many economists believe that persistent debt/GDP levels over 100% are unhealthy. The U.S. is projected to surpass that mark within the next 30 years, with the debt/GDP ratio at that point on a continually and dramatically rising trajectory (more than 10 percentage points per decade through 2080). Avoiding the catastrophic consequences of this fiscal path will require action to bring program expenditures in line with available resources. How soon those actions are taken will greatly influence their ultimate impact on the Nation. (page 19)”

The blogger who originally posted these snippets from the 2007 U.S. Financial Report, Steve skojec, adds:

“Did you notice anything off about these two paragraphs? Maybe the idea that we’re fast approaching a debt that’s 600 TIMES THE GROSS DOMESTIC PRODUCT OF THE WEALTHIEST NATION ON EARTH? How about the fact that the financial report itself characterizes the consequences of this trend as “CATASTROPHIC”?”

==interesting and scary….If this information scares you or is something you have not heard before, you should really check out Ron Paul and some of his speeches on yourtube and else where as he is one of the few politicians who has been trying to warn against the dangerous fiscal policies of our central bank, the federal reserve, as well as the spending habits of the US Federal Government.

U.S. and post World War I German republic share monetary policies, lets pray it does not lead to the same results…

Read a great new post about the US economy and monetary policy here, this is an excerpt:

“…We are reaching a point, however, where the economic issues facing our nation are becoming a grave moral concern. What happens when we run out of money? When foreign countries dump our currency? When the dollar completely tanks? When unemployment soars?

Ever heard of the Weimar Republic? That period of post World War I Germany where inflation had spiralled so far out of control that the German Mark, which had an exchange rate of 4.2 to the American Dollar in 1914 had reached an unfathomable low of 2 TRILLION marks to the dollar by 1923? People were bringing cash to the store by the wheelbarrow full to buy things like a loaf of bread. Nearly 1,800 government printing presses were running around the clock just to produce enough cash. (For more on this aspect of Weimar Germany, go here.)

What had precipitated this massive decline? A huge war debt, financed only partially by taxes. The bulk was paid for by loans, the sale of treasury bills, and an increased monetary supply.

Sound familiar?

We need to get this country’s spending under control. We are making ourselves vulnerable in so many ways. Economic crisis leads to real suffering – extreme poverty, starvation, loss of life…”

Not happy with the three choices for President this year? Makes you wish you voted for Ron Paul, huh?

Just Click play, you might like it:

New Gallup poll: “Of remaining 3 candidates, who does America least want as President, and why?”

FROM CNN’s Jack Cafferty (see original plus mass opinions here):

Here’s a twist on the polls you see every day: A new Gallup survey asks people which of the three remaining candidates they least want to see elected president in November. 40% of those surveyed say they don’t want John McCain, 36% say they don’t want Hillary Clinton and 20% say they don’t want Barack Obama.

(Cafferty points out, interestingly, that 12% of those who least want Barack Obama as President say it is “because he is a Muslim,” which he is not.)

…Visit Jack’s original post to see why most people felt how they felt about each candidate and put in your own two cents.

Dollar sets record low against the euro after Carlyle Group fund defaults on $16.6 billion of debt; Gold hits record high as investors seek shelter.

Published in original form on March 13 by Bloomberg.com (see entire article by clicking here):

“– The dollar fell below 100 yen earlier today for the first time since 1995 and set a record low against the euro after a Carlyle Group fund defaulted on about $16.6 billion of debt, adding to turmoil in financial markets.

The dollar fell to almost one-for-one with the Swiss franc and slumped against the British pound. The drop came as Carlyle said lenders will seize the assets of its mortgage-bond fund, a day after Drake Management LLC said it may shut its largest hedge fund, spurring concern that losses will widen. The tumble in the world’s reserve currency drove gold to a record above $1,000 an ounce as investors sought shelter in the metal.

“The weakening, in reality, is a reflection on how the world is measuring the U.S.,” said Thomas Sowanick, who helps manage $10 billion as chief investment officer of Clearbrook Financial LLC in Princeton, New Jersey. “Until there is a unified central bank effort to support the dollar, the path of least resistance will be down.”

The dollar fell to 99.77 yen, the lowest since October 1995, before trading at 100.68 at 4:20 p.m. in New York, from 101.79 yesterday. The dollar touched $1.5626 per euro, the weakest since the European currency’s debut in 1999, and was at $1.5622, from $1.5551. It slid to a record 1.0045 Swiss francs. Japan’s currency advanced to 157.27 per euro, from 158.30.

The U.S. currency fell against a basket of six major trading partners to the lowest since the index began in 1973. The Dollar Index traded on ICE Futures in New York declined as low as 71.795. The dollar dropped to $2.0320 per pound from $2.0270, touching the weakest since December.

`So Many Holes’

The dollar pared its losses as stocks reversed a decline, after Standard & Poor’s said the end of subprime-related losses is “in sight” for large financial institutions. The S&P 500 index rose 0.5 percent, after earlier losing as much as 2 percent.

“The dollar is trying to find a floor here,” said Alan Kabbani, a senior currency trader at Wachovia Corp. in Charlotte, North Carolina. “The boat has so many holes that it takes a while to fix it.”

Treasury Secretary Henry Paulson reiterated support today for a “strong dollar” that reflects economic fundamentals, after President George W. Bush yesterday said the U.S. currency’s drop was not “good tidings.”

Person George W. Bush

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Congressman Ron Paul trying to convince Congress to fight against war in 2002, and against unbalanced budgets and for securing our borders

“I rise to urge the Congress to think twice before thrusting this nation into a war without merit- one fraught with the danger of escalating into something that no American will be pleased with.” -Congressman Ron Paul, September 4, 2002

“Military force is justified only in self-defense; naked aggression is the province of dictators and rogue states. This is the danger of a new “preemptive first strike” doctrine.” -Congressman Ron Paul, September 4, 2002.

“If we can’t or won’t define the enemy, the cost to fight such a war will be endless. How many American troops are we prepared to lose?…How much money are we prepared to spend?…How many innocent civilians, in our nation and others, are we willing to see killed?…How many American civilians will we jeopardize?…How much of our civil liberties are we prepared to give up?” -Congressman Ron Paul, September 25, 2002

“Let it be clearly understood- there is no authority to wage war against Iraq without Congress passing a Declaration of War…A UN Resolution authorizing an invasion of Iraq, even if it were to come, cannot replace the legal process for the United States going to war as precisely defined in the Constitution…Only tyrants can take a nation to war without the consent of the people. The planned war against Iraq without a Declaration of War is illegal. It is unwise because of many unforeseen consequences that are likely to result…The American people become less secure when we risk a major conflict driven by commercial interests. Victory under these circumstances is always elusive, and unintended consequences are inevitable.” -Congressman Ron Paul, March 1, 2002

“The tired assertion that America “supports democracy” in the Middle East is increasingly transparent. It was false 50 years ago when we supported and funded the hated Shah of Iran to prevent nationalization of Iranian oil…and it’s false today when we back an unelected dictator in Pakistan -just to name two examples.” -Congressman Ron Paul, December 3, 2002

“Mr. Speaker, I once again find myself compelled to vote against the annual budget resolution for a very simple reason: it makes the government bigger.” -Congressman Ron Paul, March 4, 2004

“…I also want to abolish the Federal Reserve…The value of our dollar and the level of our interest rates are not supposed to be manipulated by a few members of the power elite meeting secretly in a marble palace…Without the Federal Reserve, our money could not be inflated at the behest of big government or big banks. Your income and savings would not lose thier value.” -Congressman Ron Paul, 2002.

“The official national debt figure, now approaching $9 trillion, reflects only what the federal government owes in current debts on money already borrowed…It does not reflect what the federal government has promised to pay millions of Americans in entitlement benefits down the road…Those future obligations put our real debt figure at roughly fifty trillion dollars -a staggering sum that is about as large as the total household net worth of the entire United States…Your share of this fifty trillion amounts to about $175,000.” -Congressman Ron Paul, March 6, 2007

“Immigration reform should start with improving our border protection…yet it was reported last week that the federal government has approved the recruitment of 120 of our best trained Border Patrol agents to go to Iraq to train Iraqis how to better defend their borders…National Gaurd troops participating in Operation Jump Start are being removed from border protection duties in Arizona, New Mexico, and Texas and preparing to deploy to Iraq and Afghanistan…Is this a way to discourage people from coming to the US illegally?” -Congressman Ron Paul,March 31, 2007

“If present trends continue, by 2040 the entire federal budget will be consumed by Social Security and Medicare alone…To close the entitlement gap, the US economy would have to grow by double digits every year for the next 75 years.” -Congressman Ron Paul, March 6, 2007

“It is not we non-interventionists who are isolationists. The real isolationists are those who impose sanctions and embargoes on countries and peoples across the globe and who chose to use force overseas to promote democracy…a counterproductive approach that actually leads the U.S. to be more resented and more isolated in the world.”

“Peace is not the absence of conflict. It is the ability to handle conflict through peaceful means.” -Ronald Reagan