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 breeds austerity and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
The Tea (Take Everything Away) Party Patriots have been the dominant influence on today’s politics. Their cut, cut, cut philosophy, which has permeated both political parties and the media, ignores a basic fact of economics: Federal Deficits – Net Imports = Net Private Savings.
Cut deficits and you cut savings. It’s that simple.
The Tea’s relentless drive to impoverish America touches every facet of our lives. One of many, many examples: How we treat our returning soldiers.
Veterans Affairs claims progress in ending homelessness among vets
By Steve Vogel, Published: December 26
Making aggressive use of a voucher program, the Department of Veterans Affairs (VA) has housed more than 33,000 veterans in the past 2 1/2 years.
That our returning soldiers must struggle with homelessness, is a disgrace. Ironic too, considering who the flag wavers in America are.
VA and the Department of Housing and Urban Development want enough funds to issue 60,000 vouchers at the rate of 10,000 a year through 2014. The effort comes as tens of thousands of troops who served in Iraq and Afghanistan are leaving military service and entering an often bleak job market.
Why have Congress and the President not created a program to employ these men and women who Congress and the President sent away from their homes and families, to risk their lives?
. . . more than 20,000 Iraq and Afghanistan veterans have been homeless at some point during the past five years and that their numbers are rising.
Matt Barnes, a 28-year-old former Marine corporal, is representative of this new generation. On a rainy December night, Barnes slipped quietly into St. George’s Episcopal Church in Arlington County, gratefully accepting a bowl of meat stew offered by volunteers and taking a seat at a table with other homeless veterans.
Barnes has been homeless for two years since losing his job as a waiter and being unable to afford his apartment in Fairfax County. Barnes served five years in the Marine Corps, including a tour in Fallujah, Iraq, in 2004 during the height of the insurgency, when he regularly risked roadside bombings as a convoy driver.
“It was easier over there,” Barnes mused. Barnes finds it nearly impossible to look for a job while homeless. “You can’t get good sleep on the street,” he said. He lacks a phone or even money to get a haircut.
The poverty rate for veterans ages 18 to 34 reached 12.5 percent in 2010, more than double that of 10 years earlier, according to a report last month from Congress’s Joint Economic Committee. Veterans pay 30 percent of their income to rent, and the voucher covers any rent above that amount. Each voucher costs the government on average $6,500 a year, plus $4,148 in case management services — much less than the costs of staying in jails, hospitals or emergency shelters, advocates say.
“It literally saved me,” said Mickiela Montoya, who served with the Army National Guard in Iraq and received a voucher last year for an Orange County, Calif., apartment where she lives with her 4-year-old daughter.
Gary Bush, a homeless 54-year-old Navy veteran in Arlington whose hollow cheeks and sunken eyes tell of long nights on the streets, has asked for a voucher, but he was discouraged by the response. “They tell me the waiting list is 500 deep,” Bush said .
Those selected often must wait four months to a year for housing, depending on the amount of paperwork required by the jurisdiction, said Becky Kanis, who directs a homeless project run by Community Solutions.
Wealthy Congresspersons call for cuts in federal spending, but every cut hurts real people with real needs. The most common Tea Party, debt-hawk excuse for deficit cuts is: “Deficit spending causes inflation.” Not only is this false (See: Oil causes inflation,) but it is heartless.
It says, “All you sick and homeless and jobless veterans must suffer, because I personally believe (with no evidence to support my belief) that at some unknown future time, federal deficit spending, which is necessary for economic growth, might just possibly cause inflation.
“In short, screw you soldier. I’ve got mine.”
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