NC Renegades

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At this point, it is irrelevant who is to blame for our nation’s demise. History will look back and point to specific causes (real or imagined) for our collapse but the reality is simple: weak and greedy leaders. Will a last minute deal be penned in time to avert a default on our debt? This is not the question we need to be asking. Once we allowed the media and our leaders to substitute perception for reality, our fate was sealed.

One reality that will be in the forefront in the immediate future is the effect Obamacare will have on our economy. As working people are now finding out, this is the largest tax put upon people in history. And this tax will have an immediate impact on our economy as the term “discretionary spending” is removed from our lexicon. The unemployment rate will explode once the shutdown is over and the Bureau of Labor Statistics releases its latest figures. Companies have reduced the hours for their employees in the service and retail sectors just prior to the October 1st shutdown. Convenient timing for a government shutdown. Hospitals are laying off thousands across the country. Just in time for Christmas.

The double (and triple) digit increases on medical premiums will have an impact on every working family. Couple unemployment claims, the virtual elimination of discretionary spending in a consumer based economy with a quickly shrinking tax base to understand that we are nearing their endgame.

So the pResident and Congress are playing a game of chicken to see who will wield the power in Washington, D.C. No matter which party wins, America loses. Does America still have the spirit that our forefathers had when they rebelled against a lesser tyranny? We saw a small flame rekindled by our veterans in Washington on October 13th. At this point, I can only pray that we have the strength to rebuild a moral and virtuous country for our children based on the lessons that our “leaders” have taught us.

David DeGerolamo

Senate could still miss debt deadline

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By Michael Snyder

Are we on the verge of another major economic downturn?  In recent weeks, most of the focus has been on our politicians in Washington, but there are lots of other reasons to be deeply alarmed about the economy as well.  Economic confidence is down, retail sales figures are disappointing, job cuts are up, and American consumers are deeply struggling.  Even if our politicians do everything right, there would still be a significant chance that we could be heading into tough economic times in the coming months.  Our economy has been in decline for a very long time, and that decline appears to be accelerating.  There aren’t enough jobs, the quality of our jobs continues to decline, our economic infrastructure is being systematically gutted, and poverty has been absolutely exploding.  Things have gotten so bad that former President Jimmy Carter says that the middle class of today resembles those that were living in poverty when he was in the White House.  But this process has been happening so gradually that most Americans don’t even realize what has happened.  Our economy is being fundamentally transformed, and the pace of our decline is picking up speed.  The following are 22 reasons to be concerned about the U.S. economy as we head into the holiday season…

#1 According to Gallup, we have just seen the largest drop in U.S. economic confidence since 2008.

#2 Retailers all over America are reporting disappointing sales figures, and many analysts are very concerned about what the holiday season will bring.  The following is an excerpt from a recent Zero Hedge article…

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