While Iran Receives Billions From Lifted Sanctions, the U.S. Military Is Cut by Billions

The fact that there will be no U.S. aircraft carrier in the Middle East this fall is an interesting development that is worth noting. It would be the perfect time for Iran to launch an attack on Israel and for Obama to duck his obligation of protecting the tiny Jewish state. Ironically enough, the Iranian nuclear deal forces America into defending the Persian nation.

 

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The Iranian Army (Photo: Tima/Reuters/Newscom)

 

There are many reasons to think that the Iran nuclear deal is an awful agreement. One of those being the $150 billion (or so) that Iran will receive as sanctions are lifted.

In 2011, President Obama signed the Budget Control Act (BCA) into law which was an attempt to rein in federal spending. While federal spending must be curtailed, unfortunately the BCA did little to control the real drivers of federal spending (the entitlement programs) and instead imposed disproportionate cuts on the national security budget. These cuts were backed by a mechanism called sequestration, which automatically cuts every budget line if spending is too high. Continue reading

Overall State of the Union – Unbiased Economics

The definition of the “rich” has become anyone who has investment income. Home ownership has declined since mortgages generally now want 20% down and taxes have risen. Of course, the socialists say this is not fair and the rich are getting richer yet this is not income from wages, but rather investment. The gains go predominantly to mutual funds and pensions not to mention foreign investment since retail participation has also declined since the Great Recession. This means the yelling and screaming is by no means reflecting a purely domestic situation. Furthermore, had Congress privatized Social Security long ago, then those funds would have been invested in the stock market so the very people they say are not participating would have a stake in the economy. Continue reading