–Economic disaster: Congress in agreement

The debt hawks are to economics as the creationists are to biology.

By Z. BYRON WOLF ABC News; July 27, 2010; “Debt Commission: Dealing With Federal Debt Likely To Require Tax Hikes, Spending Cuts. On both sides of the aisle, lawmakers are coming to terms with hard political fact: services are going to have to be cut and taxes are going to have to go up to keep the $13 trillion-plus national debt from skyrocketing into infinity and beyond.”

Our leaders have no idea what they are talking about. Cutting services and raising taxes is not a “hard political fact.” These are the absolute worst steps we could take, not just unnecessary, but massively harmful to our economy. The infamous DEBT COMMISSION, whose assignment it is to reduce the economy’s money supply, is akin to a “blood commission,” whose job it is to reduce the blood supply. Money is the lifeblood of an economy.

The same people who complain there are not enough jobs, also want to reduce money creation, the very thing that creates jobs. Our leaders act like doctors, who apply leeches to cure anemia. The country needs lower taxes, not higher. The country needs more federal spending, not less. These politicians, totally ignorant about economics, make economic decisions with the expected result.

And don’t be fooled by statements that taxes only will be increased on the rich. That simply is not true. All taxes destroy money. Period. Destroying any money, whether currently owned by rich or poor, decreases the total money supply, which hurts the entire American economy. You cannot drain water from only one end of a bathtub. A tax on Bill Gates hurts us all. It benefits no one.

And what are the “unnecessary” services that will be cut? See: SERVICES, and decide what we should eliminate — remembering that eliminating any federal spending reduces the money supply.

I cannot express in stronger terms how outrageously harmful this all will be. I urge you to contact your Senators, your Representatives and your media, and tell them to learn economics before making these terrible economic decisions that absolutely, positively will injure us all.

If Congress were employed by Al-Qaeda, they could not hurt America more than they now wish to do. If someone told you, “I have a plan to destroy billions or even trillions of American dollars,” you rightfully would brand him a traitor. More countries die from enemies within than from enemies without.

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

No nation can tax itself into prosperity

2 thoughts on “–Economic disaster: Congress in agreement

  1. I am in the middle of crafting letters to my Senators and Congresspeople. I just have this sinking feeling it won’t matter. That’s what’s so frustrating. I have been studying what you talk about for some time but when I talk about it to others, they can’t get past the belief that govt. and private debt operate under the same rules.

    I shudder to think what we are in for if these defecit hawks win in Nov. I guess we will have to wait and see.

    Keep up the good work. I enjoy reading and learning.

    Like

  2. Sidnee, this will frustrate you even more: I have the same problem with my own friends. They have Anthropomorphic Economics Disease

    Actually, when pushed, they do understand that the government has the unlimited ability to create money, but they say money creation causes inflation. The problem is, they are right — if the money creation truly were enormous.

    I’d imagine if tomorrow the government sent each man, woman and child in America $1 trillion, we’d have inflation. So how do we convince people we are nowhere near that point? Facts don’t seem to work, simply because the media, the politicians and even many economists keep warning about the debt being UNSUSTAINABLE, whatever that means.

    When people are confronted with the same falsity again and again, they believe it, and reject facts. Remember, because of opinion leaders, people believed in, and burned, witches. Yesterday’s witch burners are today’s debt hawks.

    The only solution I know, is not just to tell the truth, but to tell the truth again and again and again — until the truth becomes dominant.

    Meanwhile, America’s CHILDREN AND GRANDCHILDREN will suffer terribly, all because of the debt hawks.

    Rodger Malcolm Mitchell

    Like

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