The June 2001 edition of WorldNet magazine blows the lid off out-of-control spending in Washington, D.C.
“Federal Feeding Frenzy” by Washington bureau chief Paul Sperry is perhaps the clearest, most comprehensive and mind-boggling expose available on the way the U.S. government spends ever more of your hard-earned money – regardless of who sits in the White House.
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“This is the best issue of WorldNet yet,” said WND Editor Joseph Farah. “If you ever wanted to persuade a friend or relative that the U.S. government is no longer accountable to the people, this is the best visual aid and reference material you could ever find.”
Subtitled, “Why government’s voracious appetite for your money always increases regardless of party in power,” the issue is packed with 11 large, full-color charts and graphs to help make the message crystal clear.
Here are a few key points covered:
- Today’s budget beast was born in 1913. Its parents: the Federal Reserve System and the federal income tax.
- Ever since gross mismanagement on the part of the Federal Reserve and a handful of bureaucrats gave America the Great Depression, the resulting New Deal’s entitlement culture has inexorably moved America further and further away from its original constitutional system of limited government.
- Entitlements, funded automatically each year, are the fastest-growing part of the budget — doubling roughly every eight years since 1950 — and now make up nearly 55 percent of all spending.
- Today, butter trumps guns. While the first federal budget devoted nearly three-quarters of funds to the Army and Navy, by 2000 defense had shrunk to 16 percent of the budget.
- Gridlock is good, but watch out for “bipartisanship.” Whenever Democrats and Republicans “work together in a bipartisan manner,” spending increases and government enlarges.
- Government uses outright trickery to: hide pork in ever-larger bills, increase spending while claiming to be cutting, hide surpluses to avoid future budget cuts, and use phony “emergency spending” to get around budget caps.
- “Cushy doesn’t begin to describe their retirement plans,” Sperry says of congressional perks. “They are more like small lotteries. In fact, they are so generous that some former lawmakers’ annual pensions are twice as high as their pre-retirement congressional salary.”
- In one astounding chart, “When Washington butts out,” Sperry shows how in periods of lower taxes and less regulation, the economy flourishes and the stock market uptrends. Conversely, during periods of government intervention, higher taxes, increased social programs and regulation, the economy sags and the market slumps.
“This issue just sparkles,” said Managing Editor David Kupelian. “Paul Sperry manages to take a problem that is incomprehensibly large and confusing – namely the federal government – and elegantly boil it down to its essence. And the charts are absolutely powerful – they tell the whole story, even if you never read a word.”
Also in the June issue:
- “Who really owns the Federal Reserve?” in which journalist Anne Williamson answers the question, “Who are the Class A stockholders of the Federal Reserve?” The answer will surprise many.
- “Not yours to give,” an unforgettable story about U.S. Rep. David Crockett written in 1894 by Edward S. Ellis. “Yes,” said Kupelian, “it’s about the same Davey Crockett who fought at the Alamo, and shows how he learned the true meaning of constitutional spending while serving as a congressman from Tennessee. This classic story is one of the best illustrations of the letter and spirit of the Constitution available anywhere.”
Each issue of WorldNet features a comprehensive, groundbreaking expose of a major issue — such as the Federal Reserve (March), the income tax (April), the International Monetary Fund (May), evolution vs. intelligent design (July), guns in America (August), the deliberate destruction of American education (September), abortion, the drug war, globalism and much more.
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