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. 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.
Remember when we were proud to be Americans? Can we still be as proud, while our government leaders punish the poorest, weakest and most vulnerable among us — and we go along with it?
How do you feel about this article in the 12/28/11 Chicago Tribune:
DeMint anti-deficit plan leans heavily on poor
By James Rosen
A plan by Republican U.S. Sen. Jim DeMint of South Carolna to slash the federal budget defict would hit the poorest Americans especially hard, directing 70% of its $4.2 trillion in spending cuts at safety-net programs intended to help tens of millions of low-income people.
Sadly, these are the same people who have been brainwashed by the media and the politicians into believing the deficit should be cut. They are the classic turkeys who vote for Thanksgiving.
The plan proposes $20 billion in cuts that would affect the affluent. It suggests almost $3 trillion in cuts that would affect low-income Americans. But DeMint, a leading figure in the national tea party movement, says the cuts — including eliminating the earned income tax credit and child tax credit for Americans who don’t earn enough money to owe federal income taxes — are needed.
“During the Clinton years, during the Bush years, even when the economy was booming, we were still adding to the welfare rolls” DeMInt said. “We have not helped the people we’re supposedly helping. Poverty has gone up in America.”
See the logic? If the money we’ve given hasn’t cured poverty, then giving even less is the solution.
“We have trained several generations of Americans to be dependent on government rather than trying to get them off welfare.”
This is the typical “blame-the-victim” approach. Poor people are at fault for being poor. They don’t want to work. They enjoy living in crime-ridden, rat-infested, public housing, and surviving on the dole, rather than working like us real Americans.
“We can’t help the poor — we can’t help anyone — if the country goes down the tubes or we start massive inflation.” Sen. Jim De Mint.
Let’s see if I understand. We would love to help the poor, but if we do, the country will go down the tubes and we’ll have massive inflation. So to save America, we not only won’t help the poor, but we’ll take benefits from them. Does that about cover it?
DeMint said in an interview that poor people would be far worse off if the U.S. economy sank under a mountain of federal debt and the country went the way of Greece and other European nations that were facing forced austerity measures.
Another Congressman who doesn’t want to understand the differences between monetary non-sovereignty (Greece) and Monetary Sovereignty (U.S.A.). Remember, this is a guy who has served on the:
Committee on Banking, Housing, and Urban Affairs
Subcommittee on Financial Institutions
Committee on Commerce, Science, and Transportation
Subcommittee on Consumer Protection, Product Safety, and Insurance
Subcommittee on International Operations and Organizations, Democracy and Human Rights
Subcommittee on European Affairs (Ranking Member)
Subcommittee on International Development and Foreign Assistance, Economic Affairs and
Joint Economic Committee
Is it any wonder Congress is so clueless, heartless and ineffective?
“A lot of middle-class people are now using food stamps,” Demint said. “Many Americans are sick of seeing the guy in front of them in the grocery line using food stamps to buy steaks.”
How many is “a lot of”? How many Americans have even seen those middle-class steak-buyers, much less get sick about it? This is the kind of bullsh*t that passes for knowledge in Congress. It’s a direct appeal to bigotry by the Senator from South Carolina.
Robert Rector, a Heritage Foundation economist who advised DeMint in crafting his Welfare Reform Act, said the plan was reasonable. “It’s not like he’s trying to do away with the welfare state,” Rector said. “He’s just saying that the welfare state, like any other set of programs, has to face overall budgetary restraints.”
Ah, yes, that old boogey-man the “welfare state.” It’s populated with free-loaders who don’t want to work, but prefer to live in poverty, while we solid Americans support them. Like those millions of middle-class steak eaters using food stamps. There are millions, right?
The quality of a nation is measured by how it treats its less fortunate — the poor, the sick, the elderly. Remember when we were the people who proclaimed, “Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tost to me, I lift my lamp beside the golden door.“
Today, we follow politicianss who have forgotten our heritage. We no longer are the Americans the world looks to for moral leadership. We now are the TEA (Take Everything Away) Party people, the me-first people, the deport-aliens, the harsh religionists who vote for the DeMints of the world.
I am sorry to leave such an America to my children and grandchildren. They should have better.
I award two traitor images to Senator James DeMint, for his un-American statements and proclivities.
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