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Missed Fortune – Escape the Government Spending Nightmare

Posted on | June 13, 2010

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The Obama Spending Nightmare Continues

In their “Morning Bell” publication, the Heritage Foundation recently published an article that reported:

“This morning White House Chief of Staff Rahm Emanuel and budget director Peter Orszag will release a memo directing all federal agency heads ‘to develop plans’ to cut at least 5 percent from their budgets by ‘identifying programs that do little to advance their missions or President Obama’s agenda.’

“This spasm of fiscal responsibility can mean only one thing: the Obama administration is about to go on another wild spending binge…

“This spend-now/cut-later act has become a staple for the Obama administration. In February 2009, after signing the largest single-year increase in domestic federal spending since World War II, President Obama held a ‘fiscal responsibility’ summit designed to ‘send a signal that we are serious’ about putting the nation on sounder financial footing.

“Then in June 2009, the day after promising faster deficit spending to stimulate the economy, Obama called on Congress to pass ‘pay-as-you-go’ legislation (PAYGO), a rule Speaker Nancy Pelosi (D-CA) has violated by a mere $1 trillion since she took power in 2006. And then after President Obama signed his trillion-dollar health spending plan, he convened his toothless National Commission on Fiscal Responsibility and Reform…

“While the recession is chiefly responsible for collapsing federal revenues, it is runaway government spending that is the main driver of our nation’s long-term fiscal crisis.”

Thankfully, the American people are catching on to the act. A Gallup poll recently showed that government debt is now tied with terrorism as the most worrisome issue to Americans.

But the question is “What can we actually do about it?

Wake Up & Escape the Nightmare

To begin with, we can learn from our mistakes.

As millions of Americans have seen, these times teach us to borrow to conserve, not to consume. How many people have fallen into credit trouble because when times were good, they used credit to buy furniture, cars, ATVs, boats…things they did not need but they wanted?

And millions of Americans have learned that saving for retirement means more than investing money in 401(k)s, IRA(s), stocks or other vehicles that are vulnerable to economic downturns.

Retirement savings vehicles like maximum-funded, tax-advantaged insurance contracts can provide liquidity, safety and rate of return –- which are all equally critical in retirement savings options.

Use these tough times –- whether they’ve affected you directly or indirectly -– to plan for the future and protect yourself.

Find out now how to make wiser choices, and how to obtain True Wealth.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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