Patriot,

The media celebrated this week as the government declared America
was now entering the longest period of economic growth in U.S.
history of 121 months.

But as is often the case with government statistics, it looks at
the world through rose-colored glasses.

You see, the government declared The Great Recession "officially
over" in mid-2009.

And yet Americans keenly felt the effects of the stagnant economy
under Barack Obama's uncertain tax and regulatory conditions.
Not to mention the Federal Reserve's print-now,
ask-questions-later monetary policy that created TRILLIONS of
dollars out of thin air.

On top of all that, Congress continued spending us into oblivion
as the national debt has skyrocketed over the intervening years
from $10 trillion to over $22,000,000,000,000!

Patriot, there's a storm on the horizon. The clouds have been
building for some time.

The truth is, as I explain in my column below, the Federal
Reserve is the enabler when it comes to Congress' spending
addiction.

The question is, will you join me in taking steps to prepare for
the coming financial crisis?

Right now, Campaign for Liberty is leading the charge to Audit
the Fed, with more cosponsors being added every day. (Sign your
petition now, if you haven't already!)
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We need to know exactly what the Federal Reserve has been up to
since the last recession to ensure they're held accountable - and
so we can take steps to soften the blow of the next recession by
allowing the correction to occur without their interference.

I hope you'll take a few moments to read the column below, and
then please sign your Audit the Fed petition above and make your
most generous contribution to Campaign for Liberty today.
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For Liberty,

Ron Paul
Chairman

Media and Politicians Ignore Oncoming Financial Crisis
by Ron Paul
The mainstream media was too busy obsessing over Russiagate to
notice that, according to an annual Social Security and Medicare
Boards of Trustees report, the Social Security trust fund will
run out of money by 2035. The trustees also reported that the
Medicare Hospital Insurance trust fund will be empty by 2027.

The trustees' report is actually optimistic. Social Security is
completely funded, and Medicare is largely funded, by payroll
taxes. Therefore, their revenue fluctuates depending on the
employment rate. So, when unemployment inevitably increases,
payroll tax revenue will decline, hastening Medicare and Social
Security's bankruptcy.

Another dark cloud on the government's fiscal horizon involves
the Pension Benefit Guaranty Corporation (PBGC), which provides
federal bailouts to bankrupt pension plans. The PBGC currently
has an over 50 billion dollars deficit. This deficit will almost
certainly increase, as a number of large pension funds are likely
to need a PBGC bailout in the next few years. Congress will
likely bail out the PBGC to avoid facing the wrath of voters
angry that Congress did not save their pensions.

Unfunded liabilities like Social Security and Medicare are not
included in the official federal deficit. In fact, Congress raids
the Social Security trust fund to increase spending and hide the
deficit's true size, while leaving the trust fund with worthless
IOUs.

The media also ignored last week's Congressional Budget Office
(CBO) report predicting the federal debt will increase to an
unsustainable 144 percent of the gross domestic product by 2049.
The CBO's report is optimistic as it assumes interest rates
remain low, Congress refrains from creating new programs, and
there are no major recessions.

Few in Congress or in the Trump administration are even talking
about the coming fiscal tsunami, much less proposing the type of
spending cuts necessary to pay down the debt and have the funds
to unwind the entitlement programs without harming those
currently reliant on them. Instead, both parties support
increasing spending and debt.

Republican control of both houses of Congress and the While House
led to increased federal spending of over $300 billion dollars.
The House Democratic majority now wants even more spending
increases. House Speaker Nancy Pelosi is threatening to not raise
the debt ceiling unless President Trump and congressional
Republicans agree to lift the spending caps put in place by the
2011 budget deal.

The Republican Congress routinely exceeded the caps' minuscule
spending limits. Therefore, Speaker Pelosi should have no problem
getting President Trump and his Republic congressional allies to
once again exceed the caps on welfare spending as long as
Democrats agree, as they are likely to agree, to bust the caps on
warfare spending.

America's military budget already equals the combined budgets of
the next seven highest-spending countries. Instead of allowing
himself to be neoconned into wasting trillions on another Middle
East quagmire, President Trump should bring home the nearly
170,000 troops stationed in almost 150 countries.

Unless Congress immediately begins making substantial spending
cuts, America will soon face a major economic crisis. This crisis
will likely involve the Federal Reserve's debt monetization
resulting in a rejection of the dollar's world reserve currency
status. Since the media and most politicians refuse to discuss
this topic, it is up to those of us who understand the truth to
spread the word, grow the liberty movement, and force politicians
to make real cuts right now.

donate >>
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Because of Campaign For Liberty's tax-exempt status under IRC
Sec. 501(C)(4) and its state and federal legislative activities,
contributions are not tax deductible as charitable contributions
(IRC § 170) or as business deductions (IRC §
162(e)(1)).

www.CampaignForLiberty.org





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