The debt hawks are to economics as the creationists are to biology. They, who do not understand monetary sovereignty, do not understand economics.
When blind ignorance masquerades as “fiscal prudence,” we all suffer.
On July 5th, 2010, I wrote a post titled, “How President Obama’s National bipartisan Commission on Fiscal Responsibility and Reform could destroy America
On October 6th, I wrote, “How the debt-hawks would ‘save’ Social Security and Medicare”
Both posts describe the damage debt hysteria is doing and will continue to do to our nation and our way of life.
Today, I read this:
Washington Post: Breaking News Alert: Deficit panel leaders propose curbing Social Security increases
November 10, 2010 1:20:14 PM
Leaders of President Obama’s bipartisan deficit commission are proposing to reduce the annual cost-of-living increases in Social Security.
The proposal would also set a tough target for curbing the growth of Medicare. And it recommends looking at eliminating popular tax breaks, such as mortgage interest deduction.
Because of the mistaken, unsupported-by-any-data belief that the federal debt is too high, massive damage is about to be made to our life style. And this blind ignorance is what passes for “fiscal prudence” in America.
Again, I urge you to contact your media editors, columnists, Senators and Representatives and beg, threaten and cajole them to learn about Monetary Sovereignty, before they hurt us further.
Rodger Malcolm Mitchell