The debt hawks are to economics as the creationists are to biology. Those, who do not understand Monetary Sovereignty, do not understand economics. If you understand the following, simple statement, you are ahead of most economists, politicians and media writers in America: Our government, being Monetarily Sovereign, has the unlimited ability to create the dollars to pay its bills.
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Here is the text of a letter John McCain sent all over the country, in his never-ending quest to usher in a new recession to blame on Democrats:

My Friend,

Earlier this week, many of my Democrat colleagues in the Senate were quoted saying that the Republican budget cuts were “extreme.” One wonders what words they would use to describe our nation’s current economic situation. We are $14 trillion in debt . . .

No, “”we” are not “in debt.” The federal government created from thin air, T-securities, which it exchanged for dollars it previously had created from thin air. To eliminate this misnamed “debt” merely requires the reverse exchange, at the press of a computer button. But “we,” meaning you and I, are not burdened in any way, nor are our children or grandchildren.

. . . the 2011 FY budget has yet to be passed, and a government shutdown is looming in the future.

And who is causing it to “loom”?

We are mortgaging our children’s futures,

That part is true. All the various cuts that have been suggested will reduce our children’s future quality of life. However, there is no “mortgage,” and our children don’t owe the federal debt.

. . . but the Democrats are too busy pointing fingers instead of working towards balancing the budget and saving our financial future.

Balancing the budget, aka “ending the money growth necessary for a growing economy,” would destroy our financial future, as it has every time it has been tried. See: SUMMARY

America is hurting. We are in a time of economic crisis and should be cutting rather than spending. We cannot afford nor allow the Democrats to spend another dime. President Obama’s budget is full of the same spending policies and it must be stopped.

No, we (i.e. the federal government) should be spending, not cutting. Remember: Federal spending stimulates; federal cutting decimates.

In order to prevent spending policies from being passed, it is plain and simple: we need a Republican majority in the Senate that will vote for our shared conservative values of limited government and lower taxes.

Well, you got the “lower taxes” right. But you don’t need to limit government in order to limit government spending. How about if the government creates the dollars, and gives them to the states, and lets the states direct the programs? That would end “big government,” while continuing the benefits of federal spending.

Country First PAC is dedicated to supporting and electing Republican candidates to office. With your donation today of $25, $50, $100 or more, Country First will be able to support candidates across the nation and ensure that a Republican majority is maintained in the House and gained in the Senate.

The Democrats are already ramping up their efforts for 2012, and it is important that Country First-supported candidates have the funds necessary to run successful campaigns. Your immediate donation will send a strong message to the liberals in Washington that you are fed up with the continued spending.

Thank you for your continued support and generosity. Together we will be able to elect a conservative majority to Congress and put an end to the wasteful spending once and for all.

Sincerely,

John McCain
Chairman, Country First PAC

Senator, I was just about to get out my checkbook, when I realized you’re against wasteful government spending, and burdening our children, so I assume that includes PAC spending which may be the most wasteful taxpayer burden there is. So, rather than worry about the federal government’s Monetarily Sovereign budget (which it has the unlimited ability to support), I think I’ll worry about my own monetarily non-sovereign budget and decline your Country First, Tea Party Patriots, flag-wrapped request.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity, nor grow without money growth.

MONETARY SOVEREIGNTY