Dr. Thomas C. Rustici

 

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"Tea Party Speech - Courthouse - Stafford County , Virginia"

April 10, 2010

 

Welcome ladies and gentlemen, welcome patriots!

 

Politicians like to quote JFK and "Ask not what your country can do for you, but what you can do for your country." Today it is more appropriate to say "Ask not what you can take from your government, but what your government is taking from you." The time where we could go to the government and ask for things is over, it’s now bankrupt, there is nothing left for them to give- they can only take. Now they must take anything and everything and give nothing. You might love Social Security and Medicare, and health care for all, but it won’t be there, it can’t be there, they are bankrupt. How did we get here?

Politicians in Washington DC run amok, recklessly drunk with power

It starts with people like:

Congressman Phil Hare (D) Illinois said, "I don’t worry about the Constitution…" claims to have read the health care bill 3 times, hasn’t read the Constitution. - Disrespect us because they disrespect the law they swear to uphold.

I have more respect for a common criminal, he may steal my money but he doesn’t PRETEND he is doing me a favor, doesn’t pretend to be obeying the law.

At least a mugger hasn’t taken an oath like Congressman Hare.

When Congresswomen Sheila Jackson Lee (D) Texas answered her cell phone in the middle of a question from a constituent with breast cancer at a town hall meeting—illustrates utter contempt for the American people.

When Congressman Jim Moran (D) Virginia made a constituent show his driver’s license before asking a question at his town hall meeting—he shows complete arrogance of power.

When President Obama told us last summer that if we didn’t agree with health bill to shut up and move aside, he was going to fix things. Mr. President, you need to hear me loud and clear: I’m not going to shut up and I’m not moving aside! Try to make me shut-up, try to make me move aside.

These corrupt politicians and their perennial apologists in the media call us angry mobs, astro-turf, extremists, ignorant, unpatriotic, terrorists—all because we demand answers. This is not some damn socialist dictatorship—not yet. They insult, smear, besmirch, ridicule us, yet they want our money and our vote. ENOUGH!

This disrespect for the Constitution and the Rule of Law, this cavalier disregard for dissenting Americans, reminds me of a British king 234 years ago or strikingly like too many thug "dictators" today. This attitude is more fitting for Hugo Chavez or Fidel Castro.

This disrespect for Americans shows up in many ways

Taxes, Debt, and Deficit

Politicians vote on spending bills worth hundreds of billions of dollars but they don’t even read them: this is clear disrespect

They vote on a 2500 page legally binding contract for us (health care), but they didn’t read it which means they are derelict as our agents. Then they exempt THEMSELVES from theses bills, even exempt their STAFFS! Now there are two sets of laws one for those who vote on them and those who have to live under them. Nancy Pelosi told us we will know what’s in the bills after they are signed into law! Would you sign a 2500 page contract and after signing it then look and see what you signed? Does anyone see a problem? And we are smeared for even asking questions!!! Hey Washington DC kleptocrats-- Just Try and shut us up!

We have stimulus bills with over 8000 corrupt insider deals and special interest group earmarks. Bailouts, buyouts, bribes and favors rule the day in modern politics. Americans have a legal duty to pay taxes, yet these politicians don’t feel they have a legal or even moral duty to spend taxpayer money wisely or even constitutionally. Our life/work is just another play toy for politicians to squander. They buy elections, votes, with our own tax money and even our kid’s money (deficits and debt).

They are parasites. The etymology of Politics: poly" which means many and "tics" which are blood sucking parasites. We have end the reign of arrogant political parasites.

Taxes, debt burdens and unfunded liabilities

Who has kids and grand kids? Do you love your kids? If you entrusted me with their trust fund and I were to embezzle it for my own advantage and bankrupt them before they could ever see it coming, you’d come and haunt me from the afterlife. Yet Americans have let reckless politicians get away with it on a grand scale.

How do we see this? Last year the federal government ran a 1.4 trillion dollar deficit.

We didn’t accumulate 1.4 trillion of national debt until 1983. It took the first 194 yrs. of the federal government to have that much debt.

It took the federal government till 1996 to spend in its budget 1.4 trillion in a year. That is 207 years to get that far.

Last year this was our annual deficit.

We are told by the President’s Office of Management and Budget to expect another 9 trillion dollars to be added to the current 14 trillion dollar funded debt. These numbers are always absurdly biased downward because of phony economic assumptions. We can count on probably an extra 15-20 trillion of dollars of deficits added to the national debt in 10 years.

Look at the numbers.

In 1860, Americans owed 2 dollars national debt per capita—about 3 working days for a median income person in 1860. 3 days and your debt obligations of the government were cleared.

Today the debt per capita it is well over 40,000 dollars, so it takes a median income worker over 300 days to pay off their personal part of the funded national debt.

And this is PER CAPITA, not debt obligations per actual worker. Remember, about ½ of people are in the labor force and file income tax forms and only about ½ of them pay any income taxes at all! So if you work and actually pay income taxes, your funded national debt liability is currently about $150,000 dollars.

For all the actual income taxpayers, Congress took out a credit card with your name on it and last year alone added and extra 20,000 dollar liability with its astoundingly obscene deficit. But what do you have to show for that? Is your new car paid for, did you get more property, maybe more in your retirement accounts? No, you have nothing to show for it but more debt!

When hard working people want to know "what the hell is the federal government doing with our money?" we are called radicals, unpatriotic, ignorant, or uncaring. We are told straight to our face by our arrogant politicians "to sit down and shut up." It’s our money, our life! I’m not going to sit down or shut up!

Hey Congress: you don’t own my money or my life!

The unfunded liabilities are an even bigger problem which currently stands at about $120 trillion dollars or at least 8 times the size of the funded national debt. This is what will be added to the national debt over roughly the next 40 to 50 years.

Let’s get a handle on this number of 120 trillion! Set this many $1 bills end to end and it would stretch from Stafford—to the sun and back again---more than 55 times (11.5 billion miles of money)!

This is the difference between the taxes we will pay for Medicare and Social Security and the current legally promised benefits. We will fall $120 trillion short. The demographics of the baby boom retiring guarantees this result. This is nothing short of catastrophic for our kids!

Thus, the average American taxpayer entering the workforce now who actually pays income tax has a total national debt liability of about 1.3 to 1.4 million dollars! And this is above and beyond the regular taxes to fund the federal government for its operations—and also assumes NO EXTRA DEFICITS arise in any other part of the budget over this time!! This does not include the Obama care debt obligations. This does not even include state debt or taxes either.

In short, your children are now, for all purposes bankrupt. And it is impossible for the government to tax us out of this hole they dug us into.

"When you’re in the hole over your head, stop digging."

Why do I say we are broke? Here is why. The Congressional Budget Office has estimated that the entire wealth of the United States: (ALL land 3 million square miles, every building, every home, every car and truck, all washing machines and dryers, refrigerators, furniture, all personal physical assets down to the shoes on your feet) amounts to about 50 trillion dollars. Put the whole USA up for sale and only cover about 40% of the unfunded liabilities with just Social Security and Medicare alone! We are still about 70 trillion dollars short.

What does this tell us? Technically the US is broke. Our public debts vastly exceed all collateral assets.

The next generation owes, and owes, and owes; but can’t speak now or vote now. Your children, my children, are bankrupt. I’VE HAD ENOUGH OF THIS GOVERNMENT WASTE! HAVE YOU?

Yet, an even bigger socialist entitlement program called Obama Care was just rammed down our throats. It took shameless corruption to have a second Louisiana Purchase in American history! At least Thomas Jefferson got some real assets (830,000 sq miles of land) for 15 million dollars. What did we get for 20 times this amount recently? We got Mary Landreiu’s Senate vote to have government take-over health care in America. What a really raw deal. Thomas Jefferson got a much better deal.

This was absolute disrespect for the American people.

These same people who had no time to read the bill and honestly face us to answer tough questions will have the time to exempt themselves, raise taxes ½ trillion dollars and hire an extra 17,000 new IRS agents.

There are a few people in political life who have opposed this unconstitutional abuse of power. I’m so proud to be here today with Delegate Bob Marshall, who’s Health Care Freedom Act and Attorney General Ken Cuccinelli, whose immediate lawsuit against the federal government will hopefully put a stop to this grotesque violation of our rights as Americans. God bless them and others here today for their fidelity to the Constitution. Our founding fathers would be proud of their work.

But what’s going on in Washington DC is different story.

We were told with a straight face not to worry about the OBAMACARE costs: that this health care socialism would save us money, yet now we hear about a VAT? What are the lies here? Does anyone think their taxes are going down in the future? The ink isn’t even dry on the health care monstrosity, and they’re already planning an economy wide hidden tax. The Value Added Tax is a lie because it doesn’t add to our values—rather it confiscates them in taxes.

I’m mad as hell and not going to take it anymore!

 

Think about where we’re at today

The Military, Social Security, Medicare, Medicaid and interest on the funded national debt are considered untouchable. Of the BIG 5, only national defense and interest payments on debt are even Constitutional. If we shut the rest of the ENTIRE Federal government down (courts, roads, embassies, everything) last year, we would have saved about 800 billion dollars, leaving a deficit of over 600 billion!

And the current artificially low interest rates will not last long no matter how much debt China or the Federal Reserve buys. Higher interest rates are absolutely certain in the future with crowding out of capital markets and inflationary expectations.

Our interest charges currently run about 400 billion dollars per year. However, a mere 1% increase in interest rates adds an extra 150 billion to the deficit! What happens if inflation returns to 6 or 7 %, we are looking at least 1 trillion of interest charges each year! In my lifetime I vividly remember the interest rates in 1979-1980, do you? Remember those 21% interest rates? Imagine that today!! A staggering 3 trillion in annual interest charges alone!!!

The people who put us in this ever expanding sinkhole don’t think they have to answer to you and me; who the hell are these people working for anyway? And why aren’t they in jail?

We cannot tax or even grow our economy out of this problem

Consider the following facts.

Over the last 100 years, the American economy has had its ups and downs (boom times and recessions), yet the long run growth rate of the real economy averaged about 3% per year. 3% is about the current interest charges on government debt. Since the national debt is 14 trillion, it is almost 100% of the entire size of the whole economy. This means that next year and the year after and so on if the economy grows at a 3% rate—all the improved standard of living is sucked out each and every year to pay the interest charges alone! If interest rates go to 5, 6 or 7% then the real standard of living will decline even when the economy is not in recession—when times are good you will get poorer, and when times are bad—well you do the math.

Our debt has got us to a point where it is no longer possible for our children to have a better life than we did. The great dream of America was that each new generation would have more opportunities and prosperity than previous generations. This is now over. Reckless kleptocrats in Washington DC have set us on a race to the bottom in standard of living and a race to the top on debt and tax liability.

For children born after 1996, today 14-15 years of age, that child over their entire working life will pay 70% of entire lifetime earnings to the federal government in taxes. The Boston Tea party started for a hell of a lot less taxes. I often think about that number of 70% when I look at my 12 year old son Giovanni. I look in his face and see no future.

I’m mad as hell, I’ve had enough!

I want the names of these people who have desecrated my Constitution, wantonly wasted our tax money and trashed my kid’s future. I want term limits on these obscenely reckless politicians across the Potomac—most of them should serve their terms in federal penitentiary where they belong. What they have done to our children is so incredibly derelict—so unconstitutional—so corrupt and abusive of power their time is up. Their day of reckoning is soon.

I swear on my life, with God as my witness, we are going to hold them to account for this disaster. If you’re a politician and disrespect the Constitution, individual liberty, and the American people; heed my words: this, I swear before God almighty right here right now, we’re coming after you. In November we will kick your asses out and save this Republic from your socialist tyranny.

Thank You

 

 

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