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. Economic austerity causes civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
Your Congress at work: Updated: October 14, 2011
(From the Wilmette Life)
2010 HEALTH LAW, ABORTION: The House on Oct. 13 voted, 251 for and 172 against, to give hospitals that oppose abortions on religious or moral grounds leeway to turn away a pregnant woman seeking emergency care even if an abortion were necessary to save her life. Additionally, the bill would make it more difficult or impossible for women to use their own money to buy policies covering reproductive services in the law’s state-run insurance exchanges. The bill awaits Senate action.
Gotcha, women. No insurance for you. And if you bleed to death on the doorstep of a hospital emergency room, it’s all perfectly legal. And it’s moral, too. Ask your (male) religious leader.
AIR POLLUTION RULES, JOBS: Voting 275 for and 142 against, the House on Oct. 13 passed a bill (HR 2250) to nullify new Environmental Protection Agency rules that would curb air pollution such as mercury discharges by industrial boilers, incinerators and process heaters. […]Ed Whitfield, R-Ky., said the rules nullified by this bill would impose costs on universities, hospitals, government buildings, large commercial properties and industrial facilities.
Forget our health and our children’s health. We don’t want industry to undergo “costs.”
MERCURY EMISSIONS: Voting 169 for and 249 against, the House on Oct. 11 refused to expand HR 2250 (above) to spotlight the health hazards of mercury emissions, whose regulation the bill would delay. The amendment sought to add a finding that “the American people are exposed to mercury from industrial sources addressed by (this bill) through the consumption of fish containing mercury, and every state … has issued at least one mercury advisory for fish consumption.” […] Ed Whitfield, R-Ky., said that . . . it’s important that the American people also know that there is a lot of mercury coming from natural sources . . . .”
Now if only we could get trees to stop emitting mercury. Someone should find out how much money Ed Whitfield is getting from industry PACs.
OBAMA JOBS BILL: Voting 50 for and 49 against, the Senate on Oct. 11 failed to reach 60 votes for ending GOP blockage of President Obama’s bill (S 1660) to spend $447 billion over ten years on creating jobs. The spending would be paid for by a new 5.6 percent surtax on incomes over $1 million. This vote sustained a Republican filibuster and effectively killed the bill. Three Democrats and all 46 Republicans who voted backed the filibuster.
The bill authorizes $50 billion for highway and transit construction, $44 billion in extended benefits for the long-term jobless, $30 billion to help states keep teachers and first responders on the job, $30 billion for school repairs and $10 billion for an infrastructure bank designed to leverage between $60 billion and $100 billion in public works construction. The bill provides $271 billion in tax relief, achieved by accelerating certain business write-offs and halving employees’ Social Security withholding next year — from 6.2 to 3.1 percent of gross income up to $106,800 in wages.
No need to spend money to create jobs for the #99% so long as the banks and banksters are O.K.
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. The key equation in economics: Federal Deficits – Net Imports = Net Private Savings