Mitchell’s laws: The more budgets are cut and taxes inceased, the weaker an economy becomes. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity = poverty and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
Visualize a busload of passengers, speeding down a narrow, winding, ice-slicked mountain road, and driven by a crazed, blind driver. That’s our economy and that’s our Congress.
Republicans keep focus on federal pay Washington Post, by Ed O’Keefe
A bill under consideration Tuesday by the House Oversight and Government Reform Committee would force workers to pay 1.5 percent more toward their pensions over three years beginning in 2013.
Take more dollars out of workers’ pockets and send it to the government for destruction: What an economic growth concept!
But the bill under consideration today is just one of several GOP proposals to curtail federal pay and benefits that is moving through the legislative process.
The Securing Annuities for Federal Employees Act of 2012: The bill would calculate federal retirement based on a federal employee’s highest five years of earnings instead of the current rate, which calculates the highest three years. Sponsor: Rep. Dennis A. Ross (R-Fla.). Status: In committee, most likely headed for a full House vote.
“Highest five” is lower than “highest three.”Another plan to take money out of workers’ pockets, and send it to a government that has no use for it.
Honest Budget Act: The bill would make it more difficult for Congress to pass appropriations bills without first approving a budget. It also tightens rules on paying for natural disasters that increase overall spending. Tucked within the bill, however, are provisions that would freeze all within-grade step increases for federal employees. Sponsor: Rep. Martha Roby (R-Ala.). Status: Proposed last week.
If there is a natural disaster, the government won’t help the victims unless money can be stolen from some other Americans — maybe you and me. And then, there is the inevitable war on federal workers, by preventing raises. That ought to improve the quality of workers.
Extending the Federal Pay Freeze One More Year: The bill would extend a pay freeze for federal employees, congressional staffs and lawmakers for one more year, beginning in 2013. Sponsor: Rep. Sean Duffy (R-Wis.). Status: Passed the House last week.
I guess government workers, widely (and wrongly) viewed as lazy, inept, uncaring bureaucrats, are an easy target for the debt bullies.
Down Payment to Protect National Security Act of 2012: The bill would extend the federal employee pay freeze through June 2014 and cut the federal workforce by 5 percent through attrition. Supporters say those cuts would shore up sequestration cuts in defense spending set to take effect next year. Sponsors: Sens. Jon Kyl (R-Ariz.), John McCain (R-Ariz.), Lindsey Graham (R-S.C.), John Cornyn (R-Tex.), Kelly Ayotte (R-N.H.) and Marco Rubio (R-Fla.). Status: Unveiled last week.
The military/industrial/political complex does not want those defense cuts. Way too much money given to PACs to allow that. Better to cut the wages of a federal worker. Hey, those D.C. people can’t even vote for anyone in Congress, so who needs them? Like shooting fish in a barrel for the debt bullies.
If the Republicans tried this stunt on any other class of worker — auto worker, miner, transportation worker, soldier, and on and on, there would be an outburst of indignation. But federal workers? Does anyone really care about them? Better to protect the arms manufacturers.
These proposals are stupid from an economic sense, a humanitarian sense and a common sense, none of which are owned by Congress — especially the pious right.
I award three clowns to: Dennis A. Ross, Martha Roby, Sean Duffy, Jon Kyl, John McCain, Lindsey Graham, John Cornyn, Kelly Ayotte and Marco Rubio.
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