Category Archives: Entitlements

04.16.13
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Schiff: 2/3 of America to Lose Everything Because of This Crisis

A record breaking stock market is distorting a frightening  reality:  The U.S. is being eaten alive  by a horrific cancer that will ultimately destroy the economy and impoverish  the vast majority of its citizens.

That’s according to Peter Schiff, the best-selling author  and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in  a recent interview on Fox Business.

“I think we are heading for a worse economic crisis than we  had in 2007,” Schiff said.  “You’re going  to have a collapse in the dollar…a huge spike in interest rates… and our whole  economy, which is built on the foundation of cheap money, is going to topple  when you pull the rug out from under it.”

Schiff says that, despite “phony” signs of an economic  recovery, the cancer destroying America stems from a lethal concoction of our  $16 trillion federal debt and the Fed’s never ending money printing.

Currently, Bernanke and company is buying $1 trillion of  Treasury and mortgage bonds a year. That’s about $85 billion per month against  a budget deficit that is about the same level.

According to Schiff, these numbers are unsustainable. And  the Fed has no credible “exit strategy.”

Click below for the full article.

http://moneymorning.com/ob-article/schiff-us-will-win-currency-war.php?code=3243#.UW4XY1_D_HZ

04.16.13
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Rand Paul offers up alternative Immigration Plan From business week: Paul Looks to Broaden Appeal by Backing Immigration Shift

Senator Rand Paul of Kentucky endorsed immigration changes that would give legal status to undocumented immigrants in the U.S. in a move to broaden his appeal ahead of a potential 2016 Republican presidential bid.

Paul’s plan, outlined in a speech yesterday, would create work visas for an estimated 11 million immigrants in the U.S. illegally and let Congress verify border security before revamping the nation’s immigration laws.

Paul set his proposal apart from one being crafted by a bipartisan group of senators, including another potential 2016 Republican presidential candidate, Marco Rubio of Florida. Their plan would provide a pathway to citizenship.

“I’m not creating a new line for citizenship,” Paul said on CNN yesterday. “I’m just saying, you get in the current line that exists.”

“You don’t have to go back home, but we also don’t want to put you at the front of the line because that’s unfair to people who’ve been waiting legally,” he told reporters on a conference call yesterday.

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What do you think about Paul’s plans and the other bipartisan plan proposed?  Click below for the full article.

http://www.businessweek.com/news/2013-03-19/rand-paul-endorses-legal-status-for-undocumented-immigrants

 

04.16.13
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AP News: Bipartisan bill would remake immigration system

The U.S. immigration system would undergo dramatic changes under a bipartisan Senate bill that puts a new focus on prospective immigrants’ merit and employment potential, while seeking to end illegal immigration once and for all by creating legal avenues for workers to come here.

The bill would put the 11 million immigrants in the country illegally on a 13-year path to U.S. citizenship that would cost each $2,000 in fines plus additional fees, and would begin only after steps have been taken to secure the border, according to an outline of the measure.

The sweeping legislation also would remake the nation’s inefficient legal immigration system, creating new immigration opportunities for tens of thousands of high- and low-skilled workers, as well as a new “merit visa” aimed at bringing people with talents to the U.S. Senators planned to formally introduce the bill Tuesday, but a planned press event including immigration advocates, business groups, religious leaders and others was delayed until later in the week because of the tragedy at the Boston Marathon.

Click below for the full article.

http://news.yahoo.com/bipartisan-bill-remake-immigration-system-134409846.html