Mitchell’s laws: Reduced money growth never stimulates economic growth. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity breeds austerity and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
The Tea/Republicans want to get the federal government off our backs. They want to cut federal regulations and federal services, until we have a much smaller federal government.
The question is, who will pay for this much smaller government with fewer regulations and services? Here’s just one of a thousand examples to consider:
Mentally ill flood ER as states cut services
By Julie Steenhuysen and Jilian Mincer
CHICAGO/NEW YORK (Reuters) – On a recent shift at a Chicago emergency department, Dr. William Sullivan treated a newly homeless patient who was threatening to kill himself. “He had been homeless for about two weeks. He hadn’t showered or eaten a lot. He asked if we had a meal tray.”
Across the country, doctors like Sullivan are facing a spike in psychiatric emergencies – attempted suicide, severe depression, psychosis – as states slash mental health services and the country’s worst economic crisis since the Great Depression takes its toll.
This trend is taxing emergency rooms already overburdened by uninsured patients who wait until ailments become acute before seeking treatment.
“These are people without a previous psychiatric history who are coming in and telling us they’ve lost their jobs, they’ve lost sometimes their homes, they can’t provide for their families, and they are becoming severely depressed,” said Dr. Felicia Smith, director of the acute psychiatric service at Massachusetts General Hospital in Boston.
Visits to the hospital’s psychiatric emergency department have climbed 20 percent in the past three years.
On top of that, doctors are seeing some cases where the patient’s most critical need is a warm bed. “The more I see these patients, the more I realize that if it’s sleeting and raining outside, the emergency room is the only place they have,” said Dr. R. Corey Waller, director of the Spectrum Health Medical Group Center for Integrative Medicine in Grand Rapids, Michigan.
More than 70 percent of emergency department administrators said they have kept patients waiting in the emergency department for 24 hours, according to a 2010 survey of 600 hospital emergency department administrators by the Schumacher Group, which manages emergency departments across the country.
So, I ask again. Who will pay for uninsured people using emergency rooms as their “doctor of first choice”? And while I’m asking, who will pay for insufficient regulation of food, drugs, air and water quality? Who will pay for unregulated financial institutions?
Who pays for bad schools? Crime? Who pays for poverty? Who pays for bad roads, bridges and dams? Who pays for uncontrolled disease? Weak healthcare research? Natural disasters? Who pays for overcrowded courts and jails?
Who will pay if our military is weak? Who will pay for the lack of government?
Yes, big government needs to get off our backs, but who will pay when it does?
Rodger Malcolm Mitchell
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. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption + Net exports