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●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
Here is a message I received from right-winger Scott Rigell, U.S. Representative for Virginia’s 2nd congressional district. He succinctly explains why you receive far too much money from the government, and why he believes you should be impoverished:
The Biggest Threat to the Pentagon Budget Is Mandatory Spending
Assessing the Effects of Defense Cuts, and Just As Critically, The Cause
Last week, Secretary of Defense Chuck Hagel provided sobering insight into the Department of Defense’s Fiscal Year 2015 budget. Much of what the Secretary shared caused a sharp reaction across the defense community and on Capitol Hill, with options including a reduction in the end strength of the Army to pre-WWII levels, retirement of the USS George Washington (CVN-73) halfway through its expected service life, and increased cost-shares from active duty and retired service members for TRICARE.
The federal government will collect about $3 trillion in taxes in 2014; yet in a year of record tax revenue, there is continued compression on the defense budget. These reductions are principally a result of our collective failure to address mandatory spending within our overall federal budget. This spending is automatic, never voted on, and makes up almost two-thirds of the government’s annual expenditures.
He begins with the BIG LIE, the absolute falsehood that federal taxes pay for federal spending. They do NOT.
If federal tax collections fell to $0 or rose to $999 trillion, neither event would affect by even one penny, the federal government’s ability to spend.
Then Rigell amplifies the BIG LIE:
Our failure to reform mandatory spending is adversely impacting our nation and our national security in two critical areas. First, our growing budget deficits put unyielding pressure on aggregate spending levels, including defense spending.
Any time a politician pulls out the “national security” card, you can be sure he’s lying. Is America’s national security at risk? Is there some nation willing to attack the United States of America, the most powerful nation in world history? Are you in danger from anyone other than our own government?
Further, budget deficits do NOT put any “pressure” on spending levels. The federal government could cut taxes and double spending tomorrow, with no problem whatsoever. Federal finances are not like personal finances, not like business finances, not like state or city finances — not even like euro nation finances.
The federal government is Monetarily Sovereign. It has the unlimited ability to create its own sovereign currency.
You and I do not have a sovereign currency. Your state, county and city probably do not have a sovereign currency — at least not one internationally accepted. The euro nations like Greece, France and Italy do not have sovereign currencies. None of them has the unlimited power to create money.
The federal government, being Monetarily Sovereign. can pay any bill of any size at any time.
Rigell is lying through his teeth, when he says, ” . . . growing budget deficits put unyielding pressure on aggregate spending levels. . . “ Either he’s lying or he’s too ignorant about federal finances to be a U.S. Congressman.
Then he compounds the BIG LIE:
Second, and I view this as no less serious than the first, is the increased exposure our nation faces from the reckless and increasing level of our national debt, which currently exceeds $17.4 trillion.
The national “debt” is nothing more than the total of deposits in T-security accounts at the Federal Reserve Bank, the safest bank in the world. These deposits essentially are identical with savings account deposits at your local bank.
How does your local bank “pay off” your savings account? It simply transfers your dollars from your savings account to your checking account. How does the federal government “pay off” the misnamed federal “debt”? The same way. It simply transfers your dollars from your T-security account to your checking account.
No new dollars needed. This is no burden on the federal government at all.
By misnaming deposits as “debt,” the politicians use the BIG LIE to make you believe the government is in some sort of financial difficulty.
Why do the politicians want you to believe the BIG LIE?
Rigell tells us.
The war against terror is constant, and the current upheaval in the Ukraine reminds us that peace and stability in different regions of the world are fleeting.
Ah yes, the “war against terror,” an invented war that never can end, provides lying politicians with the perfect, eternal excuse for “national security” spending.
And now, right on time, here comes Putin, our latest bad boy, to provide our politicians with yet another excuse to feed the military/industrial complex.
Putin conveniently steps into the shoes of Stalin, Khrushchev, Castro, Amin, Hussein (and his fake weapons of mass destruction), bin Laden, Khamenei and an endless list of other monsters. We are “threatened” by Russia, China, Iran, Afghanistan, Pakistan, North Korea and Mexico.
(Mexico? Sure. Have you never heard of that other eternal “war”, the war on drugs? That war too requires sealing our borders and endless “national security” spending.)
But, now comes the punch line in this sad joke:
So what’s the solution? It starts with meaningful reform of Medicare, Social Security, and other programs that are not advocated for in the President’s budget.
So there it is. The liars don’t even have the honesty to call it what it is. They say “reform,” as though somehow cutting benefits to Americans is an improvement. No, it’s not “reform.” It’s very simply, stealing from the 99% and giving to the 1%, pure and simple.
What’s needed is the political courage to address today the fiscal challenges which will burden future generations of Americans tomorrow.
Yours in Freedom,
Good old Scott Rigell, is oh, so concerned about burdening “future generations tomorrow.” (“future generations tomorrow?” Huh?)
But, he’s not at all concerned about burdening current generations, today. He wants to burden them by cutting Social Security, cutting Medicare, cutting Medicaid, cutting food stamps and other poverty aids, cutting anything and everything that benefits the 99% and might help close the gap between the rich and the rest.
Bottom line, the single biggest threat facing America is not the phony, invented war against terrorism or the war on drugs. The single biggest threat to our freedom is the growing gap between the rich and the rest.
Rigell’s repeated statement of the BIG LIE has been paid for by the rich (via campaign contributions and promises of lucrative employment later). The purpose: To widen that gap between the rich and the rest.
Rigell is a liar and a traitor, who has been bribed to take away your freedom. Don’t believe a word he says.
Yours in Feedom,
Rodger Malcolm Mitchell
P.S. You have a “Scott Rigell” representing you, too. Don’t believe him (her) either.
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt
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:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports
THE RECESSION CLOCK
As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise. Federal deficit growth is absolutely, positively necessary for economic growth. Period.