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>A World Dilemma: How To Pay Our Creditors

>One Radical Concept Deserves Another

The Dilemma Versus Doctor No’s Answer

President Obama has messed up the economy so badly that it is reason for pause and reflection. His blasé solution to the credit crisis has been to merely print new dollars that causes hyperinflation, but does he care? Here’s the conservatives’ countervailing idea to wipe away our debt and junk Obama’s printing press.

That’s what this paper is, “an idea,” and one ripe for dispute and debate – and maybe even right for the tough times in which we find ourselves. We need some new “creative juice” to figure out how America can return to who they once were, basic, hardworking, pure and good

A professor, whom we’ll call Doctor No, suggests we let our children solve the problem in a two-pronged attack. That is necessary because they are the ones who will get stuck with the Obama bill. Doctor No’s answer is that we accelerate and energize our education system, meaning kids can join the workforce earlier. Second, that we give tax breaks and incentives to teenagers who marry early, starting at age 16, which is already legal in many states with parental approval, thus growing our population and tax base. Doctor No suggests now is not the time for America to assume and assimilate 11 million unwelcome guests – “send them home.”
The dilemma is how does America respond to paying back the tremendous debt Barak Obama has created? Obama’s answer is inane — to tax our dwindling working class to death (now only 50 percent of the population), creating further unrest in an already badly divided country.

Is the answer higher taxes or more productive, better-educated people?

What is the solution to the problem of America’s newfound debt? We need a “countervailing idea” to save America, and the rest of the law-abiding world and so far the Obama people, despite campaign promises of real change, have failed to come up with one single new idea to pay back Obama’s soaring debt.

Before the advent of Obamamania, America was great, and it can become great again. But what’s going to spur us ahead as technology did the past 30 years? It isn’t socialism, communism, or government ownership of insurers and auto companies – even Obama admits he’s “not an engineer” and knows nothing of running a car company. As with most great ideas, Dr. No believes the answer is right before our noses, and it has to do with our kids and their kids who must pay back Obama’s onerous and excessive spending. It has to do with their social lives and schooling. Believe it or not, it’s a simple as that.
He and others believe we should supercharge our schools and the way we prepare kids for school, intricately retying them to the home and to the family. Yet, Obama has done nothing to strengthen the family, in fact wants to weaken families.
What’s the “change” President Obama had in mind during the election campaign which he is now bent on realizing through legislation, taxation, liberal judges, and moral persuasion?
He wants to abolish home schools and local control of schools. The first judge he appointed, David Hamilton, is a well-known anti-religion advocate who has banned prayer in schools if they even mention Jesus. Obama’s choice for deputy attorney general, David Ogden, has a history of defending gay rights causes including their demand that a man marrying another man is “marriage” in the classical sense and deserves the same legal respect at traditional marriage. He is also a proponent of ACLU issues that are often found in disharmony with the home and family. Obama is on record as opposing DOMA, the Defense of Marriage Act that requires that no state or other political subdivision within the United States) needs to treat a relationship between persons of the same sex as a marriage, even if the relationship is considered a marriage in another state; and that The federal government may not treat same-sex relationships as marriages for any purpose, even if concluded or recognized by one of the states. The bill was passed by Congress by a vote of 85-14 in the Senate[1] and a vote of 342-67 in the House of Representatives,[2] and was signed into law by President Bill Clinton on September 21, 1996. Obama has cut military spending to pre-World War II levels, weakening our country. Watch out Poland and the Czeck Republic. He’s about to negotiate away Bush’s well-thought-out missile defense system for your countries.
In 100 days President Obama failed to keep many campaign promises. He lied to the American people when three days after his inauguration he signed into law a bill that forces taxpayers to pay for abortions overseas.
He is using U.S. taxes to fund a United Nations program that underwrites forced abortions on young mothers in China.
Obama revoked conscience rights for medical personnel who object to performing abortions in U.S. clinics and hospitals.
He has warned his government will not support Catholic (or any religious) hospitals that refuse to do abortions.
During the campaign he called for transparency and an open administration that would consider ideas and beliefs of all Americans. But when it came right down to it, he failed to invite a single prolife proponent to his White House conference on health care.
He filled critical posts with the who’s who of pro-abortion groups. His choice for heading Health and Human Services was a known pro-abortion extremist, Kathleen Sebelius. The list of Obama’s assault on the home and family goes on and on and it includes his “green tax” plan to super tax all Americans’ utility bills this winter. Children will need more blankets at night. Many folks may have to turn their furnaces down five to ten degrees during the day and off at night, just to save enough to meet their bills.
Dr. No’s plan proposes to eventually fund Obama’s excesses and baby boomers’ social security retirement by creating a special new group of upper-income taxpayers who will graduate and go into the job force starting 13 years from plan inception. Meanwhile, it will require additional immediate funding to keep schools open year round. A school stimulus bill should be no problem for the hyper-spending Obama group. We need to drastically accelerate our children’s learning and maturation and that will take more money, a change in thinking, and smarter educators than we currently have in primary and secondary education. This translates into paying for what you get – more money for the best teachers.

Our children will save America, not Obama.
He’s a destroyer, a deceiver, and a derisive liar copycat, not a builder or a bringer of national unity, peace and prosperity. Obama lacks a single original, creative idea – his thoughts are those of discredited progressives and socialists; his aim is to grow government instead of growing and nourishing the minds of children and cementing children to families and reasserting state and local rights about schooling and reinstalling parents as the sole arbiters of curriculum which should include how to create, balance, and live by a home budget, goal setting and motivation, and principles of order, truth, and righteous living that parents, not government, can choose to instill into the minds of their kids.

I think most Americans are fed up with this liberal “block” to parents’ desires to teach more than just Darwinism in school. Each time a school wants to introduce prayer or even talk of known historical figures such as the Prophets Abraham, Isaac, and Jacob and the Christian savior of mankind, Jesus Christ, far left liberal judges like Obama appointee David Hamilton cry foul, separation of church and state, when in reality there is no such doctrine in America – not as Hamilton interprets it.

Can an accelerated public school system save America?
By going to school fulltime for nine years kids can graduate from high school at age thirteen and from an accelerated college at age 16 (3 years), prepared to enter the job market and find employment to support their families and their country. Many Americans agree with Dr. No. We have no choice, it’s imperative we do this.

Why?

Compounding the financial assault on America that President Obama has caused, no one’s talking about the imminent long period of baby boomer retirement. Paying for their benefits without an influx of new taxpayer funding will send us reeling further into skyrocketing inflation of no return – and I don’t mean money from ill-prepared future immigrants who don’t even yet speak English or from 11 million illegal aliens who can only add to our burden if they are allowed to stay here and become citizens which I adamantly oppose.

In his first 100 days of foolish out-of-control spending, President Obama has already rendered the U.S. insolvent and yet he acts like a drunken sailor, an insatiable partygoer, traveling each week to campaign in a new distant city, too drunk with his own popularity to think of the more than $350,000 cost he’s piling up per week, convincing somnolent liberals that such debt is good. Has anyone done the math? Jetting off somewhere in Air Force One, in four years he will have easily spent more than a hundred million dollars on mostly unnecessary trips, all of which are campaign oriented disguised as business. For a better estimate of costs, including what it cost him to go to Chicago twice in one week on a “Valentine date” go to Live Leak http://www.liveleak.com/view?i=94f_1234653724
They say that his gift to our children will be crib-through-retirement “coverage” so you’ll never have to worry about another thing. I say it’s a millstone with which he’s assaulting our families. You decide:

• 50-year-olds with a college degree will pay approximately $81,000 over their working life just to pay the interest on the debt in the Obama budget.
• 40-year-olds will pay $132,000.
• 20-year-olds, just starting out after college, will pay a whopping $114,000 just to service the interest on the debt created by the $3.4 trillion Obama budget.

American Solutions has put together an Obama Debt Calculator to determine how much President Obama’s deficits will cost you over your working life. Just go here, enter your age, your current salary, and get your Obama Debt Number.

With this kind of ever-accumulating debt, Obama’s gift to us and our kids, it’s not a matter of it being “nice” if they would graduate from college at age 16, it has become a national imperative so that they can join the job force, help rebuild America, fund baby-boomer retirements, and pay back the national debt.

Changing education in America won’t be easy. In a world where math and science is key, America isn’t merely lagging behind smaller nations, our kids’ performance has sucked. So bad were our scores six years ago that the San Francisco Chronicle said “Economic time bomb: U.S. teens are among worst in math.”

“World Crushes U.S. Kids in Math, Science,” said the Boston Herald.

The Organization For Economic Development and Cooperation (OECD) administers the exams. Fourth and eight graders are run through a battery of tests called Trends in International Mathematics and Science Study (TIMMS).

American kids raised their scores in 2007. Twenty-three countries scored lower than the best U.S. fourth graders while six countries were higher: Singapore, Hong Kong SAR, Japan, Chinese Taipei, Latvia, and the Netherlands.
Our best eighth graders were higher than that of 34 countries and lower than six countries: Chinese Taipei, Korea, Singapore, Hong Kong SAR, Japan, and Hungary.

How can we improve American scores? Some suggest sending all the illegal aliens home and loosening immigration requirements for people from Hong Kong, SAR, Japan, Chinese Taipei, Latvia, Singapore, and Hungary. Theoretically, that could eventually stimulate our test scores and we could graduate more scientists and mathematicians. But that belies the real problem, which is in our primary and secondary educational systems, not in the students. It has long been known that students from foreign nations outscore Americans in college math and science classes and go on to become the brightest graduate students, landing the best-paying jobs in industry and government. That is just downright shameful.
What should we do? We need to cut out the crap and intensify. We should install some rigorous student/teacher expectations and motivation, and boil down our nine-month, 12-year K1-12 public education into 9 years – starting at age four not six – and school them 12 months of the year, not nine. Starting at age 4 and going 9 years, students could graduate from what we now consider high school at age 13, enter an accelerated college program or tech school and graduate with a bachelor degree when age 16.
Dr. No suggests incentives: Offer money and marriage at age 16 as incentive for succeeding in this supercharged learning process.
Someone has said that if youth could marry younger they would tend to focus more time on studying and less time on games and nightlife. Therefore, the other half of the plan has to do with providing incentives for married college students regardless of age. If the above concentrated schooling works, as we know it will, the brightest of our children will be graduating from high school at age 13 and from college when they are 16. Each state has decided (see chart below) the best age for marriage –and if necessary they could pass legislation accordingly. In some countries, in certain circumstances, it is legal at age 12 for a female to marry and age 16 for a male. To legalize marriage for kids under age 18 some states may have to change marriage and child protection laws. Generally, state child protection laws do not allow marriage until age 18 when a minor reaches his/her majority but with parent and/or court approval that can be changed. A minor is defined as anyone under age 18. States may have to rework child protection laws to allow parents of a boy and girl to grant consent for them to marry at age 16 or even earlier if prearranged by the parents. That means parents would choose who their children would marry and house them in the home of the girl until age 18 when, if possible, they could find their own housing.
There’s nothing new about Dr. No’s marriage redux. In the old days prearranged marriages were common and successful. Divorce was almost unheard of.
Follow Finland’s Example For Higher ACT Scores
Finland has some of the highest ACT scores in the world. How do they do it? They go to school almost year-round and do not have sports teams and cheerleading to crowd out student study time. We can do that too, and in fact go them one better: graduate them from college at age 16. The day of high schools and colleges acting as “farm clubs” for major league sports teams must end. Let them pay for and bring along their own athletes in other ways. Schools should become the province for learning, and that doesn’t have to include being a sports training center.
Let’s Have A National Debate On Early Marriage:
But what would motivate this kind of educational blitzkrieg? Dr. No believes that would be sex and marriage at age 16 or before. You can’t make them marry early, but he believes that through money grants and preferential tax treatment we can encourage all boys and girls to marry at age 16, with parent approval of course and after they have established themselves in careers or taken the accelerated college degree course or its four-year equivalent. “Never discount sex and marriage as a great motivator for many teens,” he said.
These kids would be taking a backward step to a prior time when it was common for twelve-year-olds to be given in marriage and parent children. In those days youths didn’t have drug or illicit sex problems. They were going home at night and sleeping with their legal spouses, birthing children, and preparing them for the accelerated educational system.
For the first three years of their lives, children could be learning not only to walk and talk, but to read, write, and compute. They could know the fundamentals of math, science, English and foreign languages taught by literate parents or surrogates before age 4. They would learn about parenting and their future – a coming role as moms and dads.

>No Jail Time For Melt-Down Culprits

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Dear Money Morning Reader:

By far, the No. 1 question I’ve received this week has been: Why aren’t the guys who caused the credit-crisis meltdown headed for jail?

Personally, I believe these savings-sapping, market-mashing miscreants ought to be rotting at the bottom of a deep dark hole. At the very least, they should be impoverished and prevented from capitalizing any further on the chaos they caused, meaning no book deals or fruitful forms of tell-alls.

The fact that most, if not all, of these golden-parachuting bailout bandits are apparently going to hit the silk with billions of dollars in taxpayer funds stuffed in their monogrammed briefcases – while the rest of us struggle to meet our bills and watch our retirement accounts get vaporized – is as outrageous as it is galling.

The bottom line: Few will ever see the inside of the gray-bar hotel.

According to several lawyers I spoke with this past week, the problem is that these execs probably didn’t “technically” violate any of the laws that were actually in effect at the time – even though, from an ethical standpoint, these guys sold themselves down the river a long time ago.

Where this mess gets especially complicated is that in order to obtain convictions in a court of law (as opposed to the court of opinion), prosecutors would have to establish that the parties involved knew at the time that their actions were “more probably than not” going to cause harm. That’s a very high standard. And it’s made even tougher by the fact that not a single executive in the whole bunch apparently has the chutzpa to stand up and admit what they did was wrong – even if it wasn’t technically illegal.

It might be a completely different story in the civil courts, where different legal standards apply (which is probably why a blizzard of class-action lawsuits are reportedly in the works).

In the meantime, these members of the ousted executive All-Star team are busy defending their actions and patently denying that they “knew” anything – even as they argue that the actions that they did take did not mislead the public.

Come on fellas: How do you run a billion-dollar company and not “know” what’s transpiring? While I may have been born during the night, it wasn’t last night.

Wall Street and the banks bet the farm by closing their eyes and placing big bets they didn’t truly understand. By my way of thinking, there’s no doubt the executives in charge knew all about the bets – or at least the strategies they were based on. What they didn’t understand – or didn’t care about – was the actual risk they were taking on.

And here’s the most galling fact of all: In most cases, these were bets these companies didn’t have to make, and risks they didn’t have to take.

Absent some actual “smoking guns,” and definitive legal action, Congress and the appropriate regulators could work together (try not to laugh too hard, here) to pass legislation containing “look-back” clauses. This is more typical of civil torts as opposed to criminal violations and there is a huge body of law dealing with them. What it boils down to is that all the appropriate parties would have to agree that what happened was not only bad, but illegal both going forward and retroactively. Then, they’d have to make the decision that they’re going after the culprits.

Which is absolutely possible, just not very likely.

Most members of Congress are so far out of touch with how the rest of us actually live that they weren’t even aware there was a problem, let alone what the problem actually was until very late in the game. Even now, I’d venture that most of our federal elected officials still just don’t “get it.” Judging from the media reports I’ve seen, it strikes me that the vast majority of them still don’t understand how financial markets actually work, let alone how to fix them.

And that’s still another reason the executives who directed us into this financial mess will probably skate….

In closing, I believe that leadership has to come from the top, especially now. If he wanted to make a serious statement, U.S. Treasury Secretary Henry M. “Hank” Paulson Jr. could take one step to prove that he means business. Paulson, who made hundreds of millions of dollars as the chief executive officer of Goldman Sachs Group Inc. (GS), could voluntarily give a sizeable chunk of it to the American people from whom he is asking so much at the moment. Then, having done so, he could turn the pressure up on his financial cronies to do the same – just as U.S. auto sector icon and self-styled pitchman Lee (“If you can find a better car, buy it!”) Iacocca did in the late 1970s, when he personally took over as the CEO of Chrysler Corp. in exchange for the salary of $1 a year.

In closing, let me just say that it’s fair to assume that things will get worse before they get better.