●The more budgets are cut and taxes increased, the weaker an economy becomes.
●Until the 99% understand the need for federal deficits, the 1% will rule.
●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.
The decision was 5-4, with Chief Justice Roberts coming over from the dark side. As expected, the other four conservatives continued to vote against anything that would benefit the lower income 99% of Americans.
If history remembers these four at all (doubtful), it will not be in a favorable light.
Amy Howe: “In Plain English: The Affordable Care Act, including its individual mandate that virtually all Americans buy health insurance, is constitutional.
“There were not five votes to uphold it on the ground that Congress could use its power to regulate commerce between the states to require everyone to buy health insurance. However, five Justices agreed that the penalty that someone must pay if he refuses to buy insurance is a kind of tax that Congress can impose using its taxing power.
“That is all that matters.
“Because the mandate survives, the Court did not need to decide what other parts of the statute were constitutional, except for a provision that required states to comply with new eligibility requirements for Medicaid or risk losing their funding. On that question, the Court held that the provision is constitutional as long as states would only lose new funds if they didn’t comply with the new requirements, rather than all of their funding.”
[Amy Howe –Goldstein & Russell, P.C. — has served as counsel in over two dozen merits cases at the Supreme Court, including matters involving criminal law, the death penalty, the First Amendment, bankruptcy, and the Americans With Disabilities Act. She also has served as counsel in numerous petitions for certiorari, briefs in opposition, and amicus briefs. She co-teaches the Supreme Court Litigation class at Harvard Law School. She serves as the editor of SCOTUSblog.]
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