Mitchell’s laws: To survive, a monetarily non-sovereign government must have a positive balance of payments. Economic austerity causes civil disorder. Reduced money growth cannot increase economic growth. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
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Pulaski County Daily News: Blunt urges continued FEMA disaster recovery funding for Joplin tornado

By: Press Office of U.S. Sen. Roy Blunt, Posted: Monday, August 29, 2011 11:43 pm
WASHINGTON, D.C. (Aug. 29, 2011) — U.S. Senator Roy Blunt (Republican) released the following statement regarding the reallocation of Federal Emergency Management Agency (FEMA) funding in the wake of Hurricane Irene recovery efforts:

“My staff and I are regularly communicating with Joplin officials to make sure that they’re getting the immediate help they need. The federal government has committed resources to help Missouri communities recover from crippling flood and tornado damage, and I expect that commitment to be fulfilled expeditiously. Recovery from hurricane damage on the East Coast must not come at the expense of Missouri’s rebuilding efforts. If FEMA can’t fulfill its promise to our state because we have other disasters, that’s unacceptable, and we need to take a serious look at how our disaster response policies are funded and implemented.”

U.S. Sen. Roy Blunt serves as a member of the Senate Committee on Appropriations as well as the Senate Committee on Commerce, Science, and Transportation. He currently serves as Ranking Member of the Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies and Ranking Member of the Commerce Subcommittee on Competitiveness, Innovation, and Export Promotion.

Well, this is something of a conundrum. Republican Senator Blunt rightly wants money for his Joplin people. And he rightly recognizes that the East Coast disaster will require billions in federal aid. And he rightly does not want money taken from Joplin and sent to the East Coast.

But he wrongly subscribes to the Tea/Republican myth that the federal debt and deficit are too high. So what’s a loyal Republican to do? Ah, troubles, troubles.

It will be interesting to see how the Tea/Republicans — the group that has hurt more Americans than al Qaeda — will solve this problem of their own making. Ultimately, bad plans lead to bad results, and in this case, Americans will continue to pay the price.

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


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No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia. The key equation in economics: Federal Deficits – Net Imports = Net Private Savings

MONETARY SOVEREIGNTY