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George Holland For Congress
P.O. Box 803
Rushville, IN. 46173


Debt,Debt,Debt and more Debt!!!
updated  4/18/20
Friends: I have been warning against "debt" since 1988.  The "debt
chickens" have come home to roost.  How many people will lose their
homes and small businesses because of this scourge of unemployment and
loss of income? The prelude to this was the Trump-Pence "The Tax Cuts
and Job Acts of 2017!  Please read
Are We Brewing a New Feudalism?
By Paul Craig Roberts

How to Think About the Fed Now
By Jeff Deist

Here are some new figures: ghfc
national debt: $24.470 trillion
budget deficit:  $2.389 trillion
student loan debt: $1.665 trillion
credit card debt $1.103 trillion
Please: Prepare For The Worst!  ghfc

updated 04/07/2018
From Internet Source CNBC
debt among older Americans threatens retirement
an excerpt: "Debt among older Americans is rising fast. In 2016, the average debt in
families in which the head of the household is age 75 or older was $36,757. That is up
from $30,288 in 2010, according to a recent report by the non-profit Employee Benefit
Research Institute in Washington."
updated 03/24/2018
From internet sources--Student debt is $1.5 trillion; credit card debt is greater than
$1 trillion;  auto loans debt is greater than $1 trillion.  
Trump and Pence are giving "tax cuts" to the rich, again!
updated 03/21/2018
Storm Clouds Brewing: It’s Like Deja Vu All Over Again
an excerpt: As a result, household debt soared from just over $8 trillion in 2004 to $12.69
trillion in 2008.
Fast forward to today. Household debt has now risen above pre-crisis level. Last month,
the New York Fed released the latest data on US household debt, revealing it has grown to
a record $13 trillion.

March 21, 2018
Credit card debt in the U.S. is now over $1 trillion.
More and more people are increasing their credit card debt
because nearly 70% of families  are living paycheck  to paycheck!  Why is over $5 billion a
year going to Israel?
The national debt today is over $21.+ Trillion and rising .
That's over $174,000 per taxpayer!  

Why is over $5 billion a year,
in aid being given to Zionist Apartheid Israel?  

U.S. Federal Budget Deficit (FYTD) is $729.8 Billion and growing!
President Trump and V.P. Mike Pence's New Budget For Tax Cuts will
worsen the problem catastrophically.
83% of these "tax cuts" go to the wealthy top 1%.
Here's what you get; $1.5 trillion increase in the national debt and $1.3
trillion in cuts to Medicaid, $554 billion in cuts to Medicare
and $10 billion in cuts to Social Security.  V.P. Mike Pence and
Rep. Messer claim to be "fiscal conservatives.  What a joke!  
Once again, Scamanomics should be a better name for their "tax cut"
program.  Ronald Reagan's "tax cuts" produced no new jobs but did
increase the national debt while he was promising to "balance the budget"
each year.  (Please read below)
George W. Bush and Mike Pence's "tax cuts" promised more jobs and, once
again, balanced budgets.  The result, in year 2000, the median income was
$31,234.  The median income today is $31,662.   
WOW! After 18 years, that's an increase of $18/month. That's not even
keeping up with inflation. Yes, the rich keep getting richer and every one
else keeps getting "Screwed"!
In year 2000, there were 17,256,076 manufacturing jobs. Now there are 12,
583,855 manufacturing jobs.  In 18 years, that's a loss of
4,672,221 manufacturing jobs. The Bush-Pence "tax cuts" did not balance
the budget but increased The national debt by $5.849 trillion at the end of
Bush's eight years!!!
Credit card debt in the U.S. is now over $1 trillion.
More and more people are increasing their credit card debt
because nearly 70% of families  are living paycheck  to paycheck!  

Why is over $5 billion a year going to Zionist, non christian,
Apartheid Israel?

On 04-15-2016, I wrote:
Dear Friends:  The national debt today, April 15, 2016, is over $19.245
Trillion  (Nineteen trillion, 245  billion dollars) and growing!
That's an increase of over $3.7 trillion since Rep. Luke Messer
was elected!  That's an increase in the national debt of nearly $900 billion
each year.  Rep. Luke Messer says he believes "in a balanced budget."  But
does he? Politicians may lie, but budget deficit figures do not!   
Obama and both houses of Congress, (The War Party) have agreed to leave
alone any "budget ceiling."

Thomas Jefferson stated:
"If the American people ever allow private banks to control the issue of
their currency, first by inflation, then by deflation, the banks and the
corporations that will grow up around them will deprive the people of all
property until their children wake-up homeless on the continent their
fathers conquered.... The issuing power should be taken from the banks and
restored to the people, to  whom it properly belongs. The modern theory of
the perpetuation of debt has drenched the earth with blood, and crushed its
inhabitants under burdens ever

Wake up!  Wake up!  It took over 200 years (1980) for the national debt to
reach $950 billion !!    The budget deficit for fiscal year 2015 was $439
billion.  The budget deficit already for 2016 is over $500 billion.

Every 2 years, our federal debt increases more than what took over 200
years to accumulate!  Wake up!  Wake up!


In my campaign of 2012, I wrote:
"Today, the national debt under Obama and Rep. Pence has increased to
$15.5 trillion YTD., an increase of $3.6 trillion
; and still climbing!"
"We live with an American oligarchy; where the top 1% of our citizens
control more wealth than the bottom 90 per cent." gth

Americans must realize that the two major causes of increasing debt since
2000 have been military spending and The Bush-Pence tax cuts.
The Bush-Pence tax cuts have ended, but military spending has not!

Once again, President Obomber has shown "The Military-Industrial,
Congressional Complex and Israel, that he is "their boy".  

This year, 2016, at some point, there will be a collapse of our economy, due
primarily to this uncontrollable debt
In 1988,when I was the Democratic nominee against Rep. Dan Burton, I
spoke out against deficit spending, (creating taxpayer debt) and staying out
of "foreign entanglements".

What more can I say after warning America for thirty years?

Previously Published in my campaign of 2012  

Debt, Debt, Debt and more Debt

Dear Friends:  For over 200 years , our great country's national debt had
not gone over $950 billion. In 1980, Ronald Reagan was elected president,
promising smaller government, less government spending , fewer
regulations and tax cuts for the people!  Unfortunately, as President
Reagan learned, tax cuts do not create jobs!  Tax cuts create debt!  When
Reagan left office in 1987, (after 8 years) the national debt had increased to
$2.7 trillion. Reagan actually tripled the national debt!

George H.W. Bush became president in 1988.  He pledged, "Read my lips!
No new taxes!"  Yet, because of the increasing national debt, Bush actually
had to raise taxes! Bush, who had once described "Reaganomics" as
"voodoo" economics proceeded to create even more debt.  
At the end of  George H. W. Bush's last fiscal year, 1993, the national debt
had increased by $1.48 trillion to $4.35 trillion.      

Bill Clinton took office as president in 1993!    After eight years, President
Clinton's last fiscal budget year,ending  Sept.
30, 2001, the national (federal) debt was $5,807,463,412,206.  An increase
in the national debt of $1.46 trillion.

George W. Bush  took office as president in 2001.  Promising budget
surpluses  "as far as the eye can see" and the largest "tax cuts" in the
history of our country, his and Rep. Mike Pence's Legacy was the largest
debt increase of any president; $6.1 trillion to $11.9 trillion.
The Bush- Pence "jobs creation" tax cuts of 2001 & 2003 didn't produce
any jobs, but like Reaganomics, massive deficits and a more massive ever
By making these tax cuts "permanent,"  combined with the
massive war costs, America has chosen a path to financial
ruin and disaster!

Today, the national debt under Obama and Rep. Pence has increased to
$15.5 trillion YTD., an increase of $3.6 trillion; and still climbing!

We live with an American oligarchy; where the top 1% of our citizens
control more wealth than the bottom 90 per cent. gth

This page is very lengthy:  If you will be patient  and read this page to the
very end, you will understand why debt and jobs have been my first priority.

Debt Dynamite Dominoes: The Coming Financial Catastrophe Assessing
the Illusion of Recovery By Andrew Gavin Marshall
Global Research, February 22, 2010

02-18-2010 Dear Friends:  We are very fortunate to have
the following
from The Center On Budget and Policy  Priorities:
Economic Down Turn, Financial Rescues, and Bush-Era
Policies Drive The Numbers By Kathy A. Ruffing and
James R. Horney
SOME EXCERPTS:  "If not for the tax cuts enacted during the presidency
of George W. Bush that Congress did not pay for, the cost of the wars in
Iraq and Afghanistan that were initiated during that period, and the effects
of the worst economic slump since the Great Depression (including the cost
of steps necessary to combat it), we would not be facing these huge deficits
in the near term."

"Bush Tax Cuts, War Costs Do Lasting Harm to Budget Outlook"  "Just
two policies dating from the Bush Administration — tax cuts and the wars
in Iraq and Afghanistan — accounted for over $500 billion of the deficit in
2009 and will account for almost $7 trillion in deficits in 2009 through
"Without the economic downturn and the fiscal policies of the previous
Administration, the budget would be roughly in balance over the next
decade. That would have put the nation on a much sounder footing to
address the demographic challenges and the cost pressures in health care
that darken the long-run fiscal outlook."

has benefited the most from the Pence-Bush tax cuts?"gth

Will the USS Budget Go Down? A Titanic Budget in an Ocean of Icebergs
by Jo Comerford, Published on Monday, March 1, 2010 by TomDispatch.
com  Reproduced from

The Great American Bank Robbery by Joseph Stiglitz Folks:  Stiglitz's article is a
"must read." gth

The Economy  Debt. Debt and more Debt.
Dear Friends:  For those who can remember; I was the Democratic
Congressional nominee against Rep. Dan Burton in 1988.  That was 23
years ago.  At that time, the Theme of my campaign was "Putting
First!  The two major issues of my campaign were (1) Jobs
and (2) the national debt.  At that time, I warned of "the
economic destruction" of our great country via the deficit
spending of President Reagan and Rep. Burton.
Today, that warning is a catastrophic reality!

Conservative Republicans; Reagan, The Bushes, Boehner, Burton, Pence,
etc., Pelosi and the Democrats;  have clothed themselves in the cloak of  
being "fiscal conservatives."
These pseudo conservatives like to proclaim they are against raising your
taxes,; and that is good.  However these hypocrites have no problem with
increasing the national debt which has now placed an insurmountable debt
load upon all of us, especially our children and grandchildren.

In 1980, our great country had survived for nearly two hundred years and
the national (federal)  debt had not gone over 980 billion dollars.
Mr. Reagan promised to reduce this debt, (as did George W. Bush) by way
of the most massive tax cuts in history, at that time.   His premise was that
"tax cuts"create jobs.  Rep. Pence has been a big believer in this lie also!  
At the end of Reagan's eight years as president, the federal debt had
climbed to 2.9 trillion dollars.  In other words, Reagan, a "fiscal
conservative" had tripled the national debt in
only eight years.  

Here's the proof: In 1981, Reagan's "Program for Economic Recovery"
which highlighted the Kemp-Roth tax cuts, which promised to cut income
taxes by 30% over three years. By end of fiscal 1982, with a deficit of $ 120
billion, the national debt was  $ 1.13 trillion.

Fiscal 1983, a deficit of $208 billion raises the nat'l debt to $1.4 trillion.

Fiscal 1984, a deficit of $186 billion raised the nat'l debt to $1.56 trillion
Reagan is easily re-elected for a second term.  
Fiscal 1985, a deficit of $222 billion raises the nat'l debt to $1.82 trillion.

Fiscal 1986, a deficit of  $238 billion raises nat'l debt to $2.12 trillion.

Fiscal 1987, a deficit of $ 169 billion raises nat'l debt to $2.35 trillion.

Fiscal 1988, a deficit of  $ 194 billion raises  nat'l debt to $2.6 trillion.

Fiscal 1989,(Reagan's last budget) a deficit of $205 billion raises nat'l debt
to $2.87 trillion.
Americans, apparently wanting more "tax cuts" with more massive
deficits and more "free trade" elected George H.W. Bush as President in
1988.  Bush, who had once described "Reaganomics" as "voodoo"
economics proceeded to create even more debt.  At the end of  George H.
W. Bush's last fiscal year, 1993, the national debt had increased by $1.48
trillion to $4.35 trillion.
President Clinton, elected in 1992, did try to control deficit spending.  I
do fault Clinton as much, if not more than, The Republican presidents, the
"free traders" in supporting NAFTA, the WTO and destroying American
manufacturing jobs. Clinton was also a big supporter of "de-
regulation.  He destroyed Glass -Steagal and supported Sen.
Phil Gramm's , "Modernization Act."        

Thus, after eight years, President Clinton's last fiscal budget year, Sept.
30, 2001, the national (federal) debt was $5,807,463,412,206.  An increase
in the national debt of $1.46 trillion in eight years.

Then in 2000, George W. Bush was elected President and set into motion
the most massive tax cuts for the wealthy ever.

Public debt end Fiscal year 2002, (Bush II 1st budget)    $ 6.228
trillion         ($421 billion deficit added to federal debt)

Public debt end Fiscal year 2003, (Bush II 2nd budget)  $ 6.783
trillion         ($555 billion deficit added to federal debt)

Public debt end Fiscal year 2004,  (Bush II 3rd budget) $7.379 trillion
($596 billion deficit added to federal debt)

Public debt end Fiscal year 2005, (Bush II 4th budget)  $7.932
trillion          ($553 billion deficit added to federal debt)

Public debt end Fiscal year 2006, (Bush II 5th budget)  $8.506 trillion  
($574 billion deficit added to federal debt)

Public debt end Fiscal year 2007, (Bush II 6th budget)  $9.062 trillion
($501 billion deficit added to federal debt)

Public debt YTD Fiscal year 2008, (Bush II 7th Budget)  $10.024724
trillion                   ($ 962 billion, 172million, 496 thousand,556 dollars
deficit  , added to federal debt)

For The Fiscal year 2009,(Bush II 8th Budget)  
Bush, Rep. Pence and Congress increased the national debt from Oct. 1,
2008 to  Sept.
30, 2009  by 1.887 trillion (End of fiscal year, 2009_to 11.909
That's eleven trillion,  909 billion and 829 million dollars.

Please note George W. Bush consistently ran budget deficits of over one
half trillion dollars each year.  The fiscal years of 2008 and 2009 were
particularly devastating on adding more debt on the back of the taxpayer!

This national debt increase of $ six trillion over Bush's and
Pence's 8 years averages out to $ 750 billion per year!

The "fiscal conservatives," George Bush and Rep. Mike
Pence are now responsible for fiscal year 2009's budget
deficit of  1.887 trillion dollars.
The "fiscal conservatives," Bush and Pence actually
doubled our national debt from
$5.807 trillion to 11.898 trillion in these eight years.  
That's doubling the debt inherited from Clinton by $ 6.1
trillion!  THINK ABOUT THAT!
President Obama added $7.9 trillion to the national debt
during his 8 year presidency.

Shame, shame on you, the
voter for remaining  apathetic and indifferent about this
debt legacy to our children, grandchildren and great
grandchildren.  This debt can never be paid!
Your children, grandchildren and great grand-children  will
never forgive you!  

Once and for always, I hope this slays the myth that
"Reaganomics" aka "supply-side economics" (tax cuts for
the wealthy)  creates jobs and increases federal revenues!
Shame, shame on you the voter, if you remained  apathetic
and indifferent about this debt legacy to
our children, grandchildren and great grandchildren.  

This debt can never be paid!Our great country will
evenetually collapse.
Your children, grandchildren and great grand-children  will
never forgive you!  

As a child of a working class family, I learned very early to stay out of debt.  
If you don't have the money , don't go out and borrow it; and that is exactly
what our elected officials. like Pence, have done.

I became well aware of how "Reaganomics" with its "tax cuts" for the rich
and corporations created massive wealth for the wealthy  but tragically,
began to create massive, massive debt for the taxpayer.  

If you will read this entire page , I have documented how each successive
president, especially George W. Bush has contributed to the deficits which
today, our national (federal) debt is over $15.5  trillion dollars.  George W.
Bush's massive tax cuts for the rich did nothing to create jobs as he and
Rep. Pence promised!   This has also created a massive disparity of wealth
among Americans. Over 400 hundred American economists
warned against The Bush - Pence tax cuts for the rich.  Well
over half of the increase in our federal debt, 7 trillion dollars, is due to the
lost revenue on these "tax cuts."  EVEN TODAY, REP. PENCE IS

Who will pay this debt and how? Our children and grandchildren are now
faced with paying off this insurmountable debt.   President Obama's
"stimulus plans," his and Congress' bailing out the banks and Wall Street
have committed at least another fifteen trillion dollars of federal debt to 27
trillion dollars.  President Obama is a "Bilderberger, " as are The Clintons.
I believe this massive debt and the endless
wars have been
deliberately created to impoverish our great nation as part of
"The New World Order!"
We are now a "banana" Republic. Instead of having the American
taxpayers pay for the massive bailout of the banks and Wall Street, Paulson,
Bush, Geithner and Obama and Congress should have made those
responsible for this financial fiasco pay up.  If elected to Congress, I
intend to submit legislation to place this financial burden on

Please read: Why Billionaires Should Pay for the Jobless Recovery Les
Leopold Author of "The Looting of America" Posted: October 24, 2009 06:
18 PM  Huffington Post


Thomas Jefferson stated:
"If the American people ever allow private banks to control the issue of
their currency, first by inflation, then by deflation, the banks and the
corporations that will grow up around them will deprive the people of all
property until their children wake-up homeless on the continent their
fathers conquered.... The issuing power should be taken from the banks and
restored to the people, to  whom it properly belongs. The modern theory of
the perpetuation of debt has drenched the earth with blood, and crushed its
inhabitants under burdens ever

A financial system which has almost exclusively benefited
the wealthy
Market Review  By Bob Chapman  Global Research, November 14, 2009
The International Forecaster - 2009-11-11
"The American journey that began on 8/15/71 is going to end over the next
several years. The problems that have manifested themselves over the past
few years signal the final stages of a destructive process that has stifled
production and innovation and encouraged fraud in Wall Street and
banking. The injection of money and credit into the financial system via the
Fed and the Treasury has almost exclusively benefited the wealthy financial
sector and has spread only crumbs to American citizens."

No Armistice In War on Poor
"The proof of no peace is in the fact that the president and congress keep
talking about recovery and jobs bouncing back...but there's no real
structural change on the table, no new economic tools, no regulation --
certainly no reparations -- in sight. The losers are weak and the winners are
stronger than ever.
The US economy has lost some 10 million jobs since the recession began.
Do you really think those 10 million jobs are coming back? It seems to me,
the war is far from over and the spoils are just beginning to mount."
by Laura Flanders  Published on Thursday, November 12, 2009 by The Nation

Bill Moyers: Was the Financial Bailout Just a Slick, Friendly Takeover of
the Federal Government?  By Bill Moyers, Bill Moyers Journal
Posted on October 12, 2009, Printed on October 16, 2009
an excerpt:  BM: How do we get Congress back? How do we get Congress to do
what it's supposed to do? Oversight. Real reform. Challenge the powers that
MK: We have to take the money out. We have to get rid of the constant
fundraising that happens inside the Congress. Before, political parties used
to raise money; now, individual members are raising money through the
DCCC and the RCCC. It is absolutely corrupt. It's good people --
BM: Those are the fundraising groups, both parties --
MK: Parties.
BM: In the Congress.

G-20: Globalization Goes Bankrupt
By Chris Hedges  Global Research, September 22, 2009
truthdig - 2009-09-20
"The power elite grasps, even if we do not, the massive fraud and theft
being undertaken to save a criminal class on Wall Street and international
speculators of the kinds who were executed in other periods of human
history. They know the awful cost this plundering of state treasuries will
impose on workers, who will become a permanent underclass. And they also
know that once this is clear to the rest of us, rebellion will no longer be a
foreign concept. "
"Our global economy, like our political system, has been hijacked by a tiny
oligarchy, composed mostly of wealthy white men who serve corporations.
They have pledged or raised a staggering $18 trillion, looted largely from
state treasuries, to prop up banks and other financial institutions that
engaged in suicidal acts of speculation and ruined the world economy."  

Jeffrey Sachs Rails against Ex-Fed Chief Greenspan Wall Street Journal,
Oct. 6, 2009
an excerpt: "Jeffrey Sachs, a prolific economist, author and professor at
Columbia University, had unusually harsh words in his speech today
directed at Alan Greenspan, former chairman of the Federal Reserve —
placing him with much of the blame for the current financial crisis."

The Permanent Destruction of Jobs in America
By Washington's Blog Global Research, October 6, 200Washington's Blog - 2009-10-05
America is suffering a permanent destruction of jobs.

Updated Sept. 30, 2009
Dear Friends:  If you will please read the following;  I hope you will
understand why I believe the debt that has been created; has been created
deliberately in order to impoverish our great Amerca and turn it into a
banana republic.
Please read:
5 Ways the Government Used Our Money to Save Big Banks and Screw Us
By Nomi Prins and Christopher Hayes, The Nation
Posted on September 26, 2009, Printed on October 1, 2009
Folks:  Prins & Hayes write an enlightening article of understanding the
"bail outs" and how only the big banks benefited and as usual, the little
guy  (The taxpayer) gets "screwed."    

Economic Duplicity: Recession and Record Profits  The Real Estate Bubble
is Not Over
By Rev. Richard Skaff
Global Research, September 18, 2009

Updated Sept. 24, 2009
Reproduced from Center on Budget and Policy Priorities
Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last
Economic Expansion Income Concentration in 2007 Was at Highest Level
Since 1928, New Analysis Shows
By Avi Feller and Chad Stone September 9, 2009
some excerpts:  "Two-thirds of the nation’s total income gains from 2002 to
2007 flowed to the top 1 percent of U.S. households, and that top 1 percent
held a larger share of income in 2007 than at any time since 1928",  
"During those years, the Piketty-Saez data also show, the inflation-adjusted
income of the top 1 percent of households grew more than ten times faster
than the income of the bottom 90 percent of households."
"The share of the nation’s income flowing to the top 1 percent of
households increased sharply, from 16.9 percent in 2002 to 23.5 percent in
2007 — a larger share than at any point since 1928 (see Figure 2). In 2000,
at the peak of the 1990s boom, the top 1 percent received 21.5 percent of
total income.[3]"
"Income gains have been even more pronounced among those at the very
top of the income scale. The incomes of the top one-tenth of 1 percent (0.1
percent) of U.S. households have grown more rapidly than the incomes of
the top 1 percent of households as a whole, rising by 94 percent — or $3.5
million per household — since 2002. The share of the nation’s income
flowing to the top one-tenth of 1 percent of households increased from 7.3
percent of the total income in the nation in 2002 to 12.3 percent in 2007.
This is the highest level in the Piketty-Saez data going back to 1913,
surpassing even the previous peak in 1928."

Please read:    US poverty rate hits 11-year high
By Shannon Jones   11 September 2009

Please read:      US income gap widest since 1917
19 August 2009

Dear Friends:   Our U.S. Treasury Department does not print our money!
The printing of our currency is done by the Federal Reserve!  There is
nothing "Federal" about the Federal Reserve.  It is a consortium of
privately owned  banks!   Its purpose is to protect the powers and the assets
of the banks!   It has no oversight and answers to no one!  Are Bush,
Obama, Biden, Reid, McConnell, Pelosi, Franks,  Boehner, Cantor, and
Pence,  in  "the whorehouse in Washington", that highly respected
conservative Dr. Paul Craig Roberts describes in his article; Americans:
Serfs Ruled by Oligarchs?
Why is there such bi-partisan support in Congress  to "bail out " these
banks?  If these banks would have had to declare bankruptcy, their books
would be open;  Americans would know where this money went! The banks
could face "nationalization." Also the banks would not have the funds to
continue to "legally bribe" members of Congress  with campaign donations.
Banks are in the business of creating debt.  

The problems with the banks and Wall Street are the results of the past 28
years of the de-regulator Greenspan, our presidents and Congress  gutting
our banking laws and regulations and thus creating more debt which
benefits the major banks.  

Your apathy and indifference to what Reagan, Clinton, The
Bushs, Obama and Congress have done will eventually be
the death knell of our economy and great country.
You as the taxpayer and future generations are "in hock" for the $12.4
trillion needed to bail out these banksters and allow them to continue the
legal bribery of Congress and to continue robbing the American people!!  

Updated May 13, 2009  Dear Friends: While the title of this article is
"Crony Capitalism: I would kindly suggest a more appropriate title:
"How the political  harlots and thieves in Congress and the Obama
administration are selling out the American taxpayer. (gth)
Crony Capitalism: How The Financial Industry Gets What It Wants
By  Thomas B. Edsall | HuffPost Reporting From DC
Some excerpts: " The tilt of American policy in favor of the finance industry --
reflected in the policies of recent Treasury Secretaries Timothy Geithner,
Henry Paulson and Robert Rubin -- cannot be attributed to any one person
or institution. The industry flexes unsurpassed muscle in the political
system, backed by billions of dollars invested in candidates and lobbying, a
vast grassroots lobbying network of local bankers, the growing centrality of
finance in the national economy, and widespread acceptance among public
officials of a pro-market, deregulatory philosophy."

"Both the end-stage Bush and new Obama administrations have been
exceptionally fawning in their support of failed bankers," William K. Black,
associate professor of Economics and Law at the University of Missouri-
Kansas City School of Law, told the Huffington Post. "Crony capitalism is
now common in U.S. finance."

"Since 2000, the finance sector has funneled a total of $2.84 billion directly
into the political system, $961 million in donations to candidates and
political parties, $1.88 billion in publicly disclosed lobbying expenditures to
influence Congress and the executive branch."

The Obama Administration and the Bankers: 100 Days of Solicitude
Some excerpts:  "In most areas of public policy the Obama administration
has given the country a sharp and welcome break from the policies of the
prior administration. Unfortunately, this is not the case with his financial
policy. To a large extent Treasury Secretary Timothy Geithner has
continued the Bush-Paulson "save the banks" first approach.

Geithner has continued policies initiated in the Bush administration
whereby the banks received vast amounts of money from the public trough
while offering relatively little in return. Most of the executives at these
banks continue to earn multi-million dollar compensation packages and the
shareholders and bondholders have been enriched at the taxpayers' expense.

It is undoubtedly painful for the public to see their tax dollars going to
reward the people who are most directly responsible for the economic crisis.
The Wall Street banks played a game of high-stakes poker over most of the
last quarter century. In the process, the major actors got incredibly wealthy
at the expense of ordinary working people.

Now this game has blown up in their face, effectively bankrupting most of
the big players, and bringing the economy down in the process. But rather
than leave the bankers to suffer the consequences of their own actions,
Geithner and Co. are rushing to the rescue with gigantic buckets of
taxpayer dollars".
Posted April 28, 2009 | 10:17 PM (EST) By Dean Baker,  The Huffington

Top Senate Democrat: Bankers 'Own' the US Congress
"And the banks -- hard to believe in a time when we're facing a banking
crisis that many of the banks created -- are still the most powerful lobby on
Capitol Hill. And they frankly own the place."
by Glenn Greenwald, Published on Thursday, April 30, 2009 by

Thievery Under the TARP
"We are being robbed big-time, but you can't say we haven't been warned.
Not after the release Tuesday of a scathing report by the Treasury
Department's special inspector general, who charged that the aptly named
Troubled Asset Relief Fund bailout program is rife with mismanagement
and potential for fraud. The IG's office already has opened 20 criminal
fraud investigations into the $700 billion program, which is now well on its
way to a $3 trillion obligation, and the IG predicts many more are coming."
by Robert Scheer,  Published on Wednesday, April 22, 2009 by

Please read  Moyers Journal: Madoff Was A Piker -- America's Big Banks
Are a Far Larger Fraudulent Ponzi Scheme. By Bill Moyers,
Bill Moyers Journal
Posted on April 6, 2009, Printed on April 10, 2009

Economy in Jeopardy. Barack Obama: "Financial Crime Boss"
"Since taking office, Obama, wittingly or otherwise, has headed the largest
criminal enterprise in history - the mass looting of national wealth to enrich
his Wall Street benefactors. He assembled a rogue economic team of
Clinton/Robert Rubin retreads - to fix the current crisis they engineered."
By Stephen Lendman           Global Research, April 18, 2009

Geithner plan will rob American taxpayers: Stiglitz HONG KONG (Reuters) -
The U.S. government plan to rid banks of toxic assets will rob American
taxpayers by exposing them to too much risk and is unlikely to work as long
as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on

"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a
Credit Suisse Asian Investment Conference in Hong Kong.

U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion
in bad debt off banks' balance sheets, unveiled on Monday, offered
"perverse incentives," Stiglitz said.

The U.S. government is basically using the taxpayer to guarantee against
downside risk on the value of these assets, while giving the upside, or
potential profits, to private investors, he said.

"Quite frankly, this amounts to robbery of the American people. I don't
think it's going to work because I think there'll be a lot of anger about
putting the losses so much on the shoulder of the American taxpayer."

By Susan Fenton and Deborah Kan Tue Mar 24, 2009, Reuters

Dear Friends: Once more, please remember:" When I was the Democratic
Candidate for Congress in 1988, my two main issues were the loss of jobs
and an increasing federal debt. Whenever Ronald Reagan became President
in 1981, our great country had gone nearly 200 years before acquiring a
trillion dollars in our federal (national) debt.  By the  time, he left the
presidency in 1989, Reagan, a "fiscal conservative" had nearly "tripled"
the national debt to 2.87 trillion dollars.  Four years later, George H. W.
Bush left office. The national debt, ending fiscal 1993, had increased by
$1.48 trillion to $4.35 trillion.  By the end of Bill Clinton's last fiscal year,
2001, the national debt had increased by $1.65 trillion, (in eight years) to
$5.87 trillion.

In his eight years as president, George W. Bush and Rep.
Pence increased the national debt by over $6 trillion.
 At the
end of fiscal 2009,
the national debt was $11.898 trillion.

Why is it important for you to know this?  The national debt figures out to
be  $50,000 for every man , woman and child, or over $200,000 per family of
Who will pay this debt? has reported, on April 9, 2009, "Financial Rescue Nears
GDP as Pledges Top $12.8 Trillion."    By Mark Pittman and Bob Ivry
An excerpt,
 "The money works out to $42,105 for every man, woman and
child in the U.S."
Combining the current national debt of over $35,000 per individual with
the above $42,105 plus Obama's deficit puts every citizen "in hock" for over
$82,000 as their part of the national debt. Thus a family of four will owe
over $330,000 on the national debt.

The Bailout Double Standard And The Revival Of Reaganism by David
Reproduced from Huffington Post 03-30-2009

How can this debt ever be repaid?
President Obama's first budget projects a deficit of $1.75 trillion.
Thus Americans are facing a potential debt of over $25 trillion .  
How can this debt ever be repaid?  Who will pay this debt?    

It should be evident to every American, no matter what your political
persuasion, that President Obama is not going to "bail out" or help the
consumer but rather continue to keep the "establishment," the Wall Street
and political elites in power by "bailing out" the banks, especially those
with "toxic assets."  

Obama's, Geithner's  and Congress' current lie is that by having the
taxpayer foot the bill for these toxic assets, more monies will be unfrozen
for lending.  This is plain and simple a case of "thievery," by Obama and
Congress, intended to line the wallets of the Wall Street banksters

Dear Friends:  Please read the following:  These ten items
will guide us through a bail out paid for by "Wall Street,"
not by we taxpayers as Pence, Obummer. Pelosi and Reid  
have done.

10 Ways to Bail Out Wall Street (and Main Street) Without
Soaking Taxpayers in Debt By Chuck Collins and Dedrick
Muhammad, AlterNet
Posted on September 25, 2008, Printed on September 29, 2008

An excerpt: "As Congress debates the particulars of the Bush-Paulson
bailout, one key question has gone largely unexplored: Who will pay for
this mess?"

"The lion's share of bailout funding should come from the high-finance
gamblers and the wealthy CEOs who have so profited from our casino
economy.As Congress debates the particulars of the Bush-Paulson bailout,
one key question has gone largely unexplored: Who will pay for this mess?"

In my opinion, Obama and his fellow "harlots" in Congress are "screwing "
the hell out of the little guy! The average American family, working folks
and retirees will pay dearly for this thievery by Obama and Congress.
Obama's Wall Street cabinet
Excerpts include, "the administration, in both its personnel and policies, is
a political instrument of Wall Street."
"Policies that are extraordinarily favorable to the financial elite that were
put in place over the past month by the Obama administration have fed a
surge in share values on Wall Street."
By Tom Eley and Barry Grey
Global Research, April 15, 2009

Both highly respected economists and Nobel Prize Recipients, Paul
Krugman and Joseph Stiglitz
have spoken out against Obama and Geithner using taxpayers monies to
bail out the toxic assets of these banks. Krugman describes this plan as

"cash for trash"
in his article,
Financial Policy Despair, March 23, 2009, New York Times
A must read paper, somewhat lengthy, documents why Americans should be
President Obama's programs and his projected budget for fiscal 2010.
"America's Fiscal Collapse",   
"In actuality, what we are dealing with is the most drastic curtailment in
public spending in American history, leading to social havoc and the
potential impoverishment of millions of people."
"The Obama promise largely serves the interests of Wall Street, the defence
contractors and the oil conglomerates. In turn, the Bush-Obama bank
"bailouts" are leading America into a spiralling public debt crisis. The
economic and social dislocations are potentially devastating."

This is a "War Budget". The austerity measures hit all major federal
spending programs with the exception of:  1. Defence and the Middle East
War: 2. the Wall Street bank bailout,  3. Interest payments on a staggering
public debt.
By Michel Chossudovsky
Global Research, March 2, 2009

We're Still Getting Screwed: Geithner Plan Will Make the
Rich Richer! By Dean Baker, AlterNet
Posted on April 1, 2009, Printed on April 1, 2009

In my opinion, President Obama, like Bush,  is nothing more than a
"political harlot," a master of deceit and a chronic liar.
Why do I call Obama a "liar?"  When the news came out that the Wall
Street bankers, the very ones. who because of their greed, were receiving
"bonuses" from the bail out monies, Americans were pissed.   Obama's
feigned outrage at the payment of these "bonuses" was as phoney as could
be.  Obama had to be aware that the provision forbidding these bonuses had
been removed at the request of Wall Street. Obama is a chronic liar!     

Has Obama  sold out the American people by appointing the likes of Wall
Street hustlers,  Geithner, Summers, Rahm Emmanuel and others to his
Have these Wall Street hustlers along with Bill Clinton, Paulson,
Greenspan, Ruben, Gramm and others laid the foundation of one of the
most fraudulent swindles ever; the bailing out of Wall Street's financial
institutions and the major banks' "toxic assets" at the expense of the
American working class taxpaying families?

In my opinion, these bailouts, like The Pence-Bush tax cuts for the rich, have one
In my opinion,this is the dream of the New World Order folks; the Rothchilds, the
Rockefellers, Kissinger, Wolfowitz, the George Bushes, Obama, The Clintons,
Cheney, Biden, Hoyer, Bohner, Pelosi, Rep. Pence  and the rest.    

Another enthusiastic reporter, David Sirota's  "Obama's team of zombies"
is a must read!
"Even under the new president, Washington is the same one-party town it
always has been -- controlled not by Democrats or Republicans, but by
thieves." "the White House's economic team -- a squad of corporate lackeys
disguised as public servants."

Matt Taibbi's excellent article,  "O'Bama's Top Economic Advisor Is
Greedy And Highly Compromised." is one of many exposing this "financial
rot" for what it is.

_What has happened is the result of nearly thirty years of "de-regulation"
and laws designed specifically to enrich the rich,  more "welfare for the
wealthy."Reagan, along with Greenspan was a big supporter of "de-

Clinton, Ruben, Summers, Geithner, Phil Gramm and Greenspan were
instrumental in destroying the "Glass-Steagall Act," which kept commercial
and investment banks separated. Clinton was very big on "de-regulation" as
he saw it as a way of being more "business friendly," a friendliness that
resulted in a windfall of campaign contributions for Democratic candidates
who supported "de-regulation."   

George W. Bush has kept on with this program of "de-regulation" and tax
cuts for the rich.  In 2004, the F.B.I. warned there was an epidemic of fraud
in the financial markets;  but as usual nothing was done.   

Obama's Council of Economic Advisors, headed by multi- millionaire Larry
Summers and his "Clintonistas" and Obama's selection of Timothy
Geithner as Sec'y of The Treasury are powerful  reminders that it's business
as usual.  Obama's rantings about reform are hollow when one does some
research on what has really happened!

Investigative journalist Glenn Greenwald has an excellent article in Salon
"Larry Summers, Tim Geithner and Wall Street's ownership of
government."  April 5, 2009.  
An excerpt:  "Just think about how this works.  People like Rubin, Summers
and Gensler shuffle back and forth from the public to the private sector and
back again, repeatedly switching places with their GOP counterparts in this
endless public/private sector looting.  When in government, they insure that
the laws and regulations are written to redound directly to the benefit of a
handful of Wall St. firms, literally abolishing all safeguards and allowing
them to pillage and steal.  Then, when out of government, they return to
those very firms and collect millions upon millions of dollars, profits made
possible by the laws and regulations they implemented when in government  
Then when their party returns to power, they return to government, where
they continue to use their influence to ensure that the oligarchical circle
that rewards them so massively is protected and advanced.  This corruption
is so tawdry and transparent -- and it has fueled and continues to fuel a
fraud so enormous and destructive as to be unprecedented in both size and
audacity -- that it is mystifying that it is not provoking more mass public
rage. "

A better title to this excellent article should have been, The Oligarchs'
Escape Plan - at the Taxpayer's Expense  
Reproduced from Information Clearing House
Finance Capitalism Hits a Wall
The Oligarchs’ Escape Plan – at the Treasury’s Expense By Prof. Michael Hudson
Please remember; Rep. Mike  Pence has been one of the biggest supporters
of "de-regulation" and using taxpayer monies to bail out the banks and
their "toxic assets.  Why?
Look at Pence's list of Pac contributions and notice how many financial
institutions are listed.
Notice especially, the Pac monies from "The Friends of Phil Gramm."
In my opinion, Rep. Pence, like Barney Franks, Pelosi,  Obama and the
others, are only too happy to take political contributions from those being
overseen! Franks and  many others in Congress, have received millions in
campaign contributions from the financial companies.  Rep. Pence has
hundreds of thousands of dollars, if not millions, from these same
companies also!

So American Citizen, "where is your outrage?"

Updated Feb. 26, 2009
Please read:
 "How The U S  Economy Was Lost" by Dr. Paul Craig Roberts,
Feb. 24,2009  Information Clearing House
By now, everyone is aware that President Bush and Congress gave
Sec'y of The Treasury Paulson $ 700 billion of our tax moneys and made Mr. Paulson a virtual czar
in making our economy right again.. My concerns are (1) there was a much better way of making
those responsible for this mess; the ultra rich and their greed' pay for this mess rather than the
American taxpayer.  Chuck Collins and Dedrick Muhammad have written an excellent paper.
"Ten Ways to Bail Out Wall Street, (And Main Street) Without Soaking Taxpayers
In Debt!  
This paper will be my guide, if I am elected to Congress, in determining who will pay for future
bailouts; those responsible; not the American taxpayer!
(2)  Mr. Paulson, a multi-millionaire, (worth a reported  $ 700 million) is one of the
culprits, along with Congress, Bush and Greenspan, responsible for this mess.  Federal
Reserve Chairman Bernanke and Treasury Sec'y Geitner, Congress and Pres. Obama are
going to make sure the greedy banksters responsible for this mess will come out smelling
like roses, while the average "little guy" gets screwed once again by the whores in
Congress and the Wall Street banksters.

Updated Sept.8, 2008
After eight years of Daniels as Governor,  Eight years of Pence as Congressman,
consider the following and why for real change, Indiana's Sixth District needs  real choice
and real change,  you should vote for  
George Holland For Congress in 2012.
Indiana's jobless now number over 200,000.  That's an increase of 60,000 in just the past
one year.  More jobless families mean " of Indiana homeowners with a mortgage, more
than 11 1/2 percent or 100,000 were either behind on their payments or in foreclosure at
the end of June."
Folks, times are tough and it could have been avoided.
As more families lose their jobs and homes, there will be more divorces, more broken
homes and more "homeless,"  either on the streets or living with relatives.  Health care
costs are soaring and forty million Americans are without health insurance.  So with all
these problems at home;Why  are we still in quagmires of "deep doo doo' in both Iraq and
and all of the above politicians, including Obama, wanting to
invade Iran?
On costs of war, if you don't object to these planned, contrived, needless, endless wars
because of the human suffering; you had better understand it from the point of your wallet
or purse!  Already, America has troops in four
middle east countries, Iraq, Iran, Afghanistan and Pakistan.  The costs so far are well over
three trillion dollars, all on "The Giant Credit Card" and no end in sight.   
The Treasury Department has announced the "bailout " of Freddie Mac and Fannie Mae.
The treasury has no monies.  It will either have to have the Federal Reserve print up
"paper" (fiat) money or raise taxes.   These irresponsible fiscal policies can be traced to
both Republicans and Democrats and their support for "free markets" which is
deregulation and unsupervised policies of these financial institutions!  
Want real change, vote George Holland For Congress in 2012!
Aug. 20,  2008
"79 Million Americans Struggle To Pay Medical Bills.
Folks, another sign of the times! Please read this article.  This is where our  tax dollars should be
going!  Too many of these folks remain silent and indifferent to the four wars currently going on in
Iraq-Iran, Afghanistan-Pakistan.    These wars, based on lies , deceit and greed  are needless and
were deliberately planned as part of the oligarchy's  "War Party" that controls our country, in their
efforts to impoverish our country.  These "war costs" could have been used to help them cushion
their medical bill expenses! Why aren't these citizens demanding that America address their health
costs problems instead of feeding
the hogs of war, the war profiteers?     
Updated Aug. 18, 2008

"The worst of the global financial crises is yet to come and a large U.S. bank will fail in the next
few months as the world's biggest economy hits further troubles, former IMF Chief Economist
Kenneth Rogoff said on Tuesday."
"Large U.S. bank collapse ahead, says ex-IMF economist"
Updated July 21,, 2008.
Every family has received their "stimulus check."  Speaker Nancy Pelosi boasted, "We
didn't have to raise taxes either."  That's right!  This $ l65 billion "hush money" was
simply added to the current debt.  As was the $ 170 billion to fund the wars in Iraq and
Afghanistan.  The meltdown in the financial markets from the failures of the mortgage
companies; Bear Stearns to now Fannie Mae and Freddie Mac are going to cause an
unbelievable amount of  financial suffering, but who cares?

We are a "bankrupt nation!"  How can  any one justify the costs of war; the costs of
staying in Iraq and Afghanistan? How can Congress justify "bailing out Wall Street"at
the expense of "the little guy?"

I wrote of this in my 2005 announcement.  In June, there were 62 thousand more "lay-
offs" bringing  ytd lay offs to one-half million.  Whenever airline pilots and flight
attendants are laid off by the thousands, that says something about how bad the economy
is !  It's past time to document how all this happened.
The recent purchase of Anheiser Busch by a Belgian firm points out the severity of
American Companies being bought by foreign ownership. Roche Laboratories buying up
more of Genetech!  More and more Americans are receiving their paychecks from foreign
Folks, this is not a good thing!
Thom Hartmann's
"When Americans no longer own America" is a good start.  
Remember, in 1988, twenty years ago, my main campaign issue was ,
"Where are the jobs"?  By reading Hartmann you realize how this
happened; it was due to Reagan's "globalization" and "free trade."  
Reagan's "supply side" economics also embraced "free markets" and less
In 2006, I featured an article ,
"Economic Armageddon." I warned of the
financial bondage that would be placed upon our children!  Congress has
sit on its thumbs, doing nothing to prevent this "meltdown."

The point is this article was written in 2004; eight years ago.  Just as
President Bush rode his bicycle and strummed his guitar for four days as
Hurricane Katrina gathered strength and finally devastated New Orleans;
he and Congress, including Rep. Pence, should have been aware of the
dangerous of "deregulation" and the coming "real estate" and "banking"
bubbles.  Bush and Congress had ignored all the warnings given for those  
four years!      

As more and more  financial markets collapse, the taxpayer is going to be
used to "bail out" these commercial scoundrels!  Fannie Mae & Freddie
Mac is not a ripple, it's a tsunami wave in our economy.  Instead of letting
these firms fold, the taxpayer is called upon to "bail them out'!  Our dollar
continues to weaken.  The dollar is no longer protected by the ""gold
standard" so and Bernanke can print all the "paper money" that is needed
to bail out these crooks, and our children will pay for it for decades. Please
"Where is the outrage!" [

Please note Hartmann's reference to "The New World Order".  The debt of
endless, needless war,

The debt caused by the "tax cuts,"  benefiting the ultra rich, and the never
ending debt that is being foisted upon we tax payers as more and more
Financial institutions go under!
Why do I share this with you?  Because, the people responsible for letting
this happen expect you to re-elect them.  Contrary to Obama's glowing
promises, nothing will change for the better, only worsen!.  You must
change and vote for me if you want real change and want to help me save
America!   This financial crises did not have to happen!  It should never
have happened!   If you want to see the cause, look in the mirror!   Let's
change that  in 2012.   

*******************end of update*******************03/17/2017
Credit card debt in the U.S. is now over $1 trillion.
More and more people are increasing their credit card debt
because nearly 70% of families  are living paycheck  to paycheck!  Why is over $5 billion a
year going to Israel?
From my
campaign of