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Missed Fortune – Congress Must Stop Runaway Spending

Posted on | November 7, 2010

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Stop the Gravy Train

What a monumental task our new Congress has!

Even if it can slow or stop the runaway government spending of the last two years, we still face tough economic decisions.

Back in the 1960s, economist Milton Friedman warned that government programs intended to “prime the pump” stick with us and account for ever-growing government expenditures.

He wrote that when private expenditures go down, government expenditures should go up — and vice versa — to keep total expenditures stable.

Unfortunately, “the balance wheel” is unbalanced. During each recession, officials enact federal spending programs that won’t take effect until after the recession has passed.

They rush to approve spending but don’t rush to repeal it when expansion is underway.

The result is continuously expanding government activities that prevent a reduction in federal taxes. The door swings wider and wider.

Our National Debt is over $14 trillion. We’ve added $5 trillion to the National Debt since 2007, when Speaker of the House Nancy Pelosi vowed to have no new deficit spending.

It’s amazing. When consumers fall on hard times, we either tighten our belts or increase our incomes. Government never wants to tighten its belt.

Make Your Money Work Harder

I can teach you how to create your own economic stimulus plan. I can teach you to save yourself because Big Government can’t.

My money is liquid, safe, doesn’t lose principle and delivers a rate of return that’s tax free.

Folks who followed Missed Fortune teachings have averaged 8 percent growth, tax free, over the last 30 years.

Their retirement accounts are worth double what they were 10 years ago and most are up 50 percent from four years ago. Most Americans aren’t even back to break even with where they were 10 years ago.

I can teach you that IRAs and 401ks are not the best ways to save for retirement. Sending extra principle payments to the mortgage company is not the best way to get out of debt. Putting your money at risk in the market is not the best way to accumulate wealth.

I can show you the fortunes lost amid valid optimization and reallocation strategies. My strategies cover retirement, real estate, risk management and tax planning, among others.

Ask yourself if now’s the right time to convert your IRAs and 401ks into better plans.

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