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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, and the motive is the gap.
Sometimes, you have to just shake your head in wonderment.
GOP Straight Up Bribes Democratic Senator In Effort To Block Obamacare
The Huffington Post | By Ryan Grim & Ashley Alman
The Republican Party in Virginia has resorted to what appears to be outright bribery in its ongoing effort to deny low-income residents in the state access to the Medicaid expansion authorized by Obamacare.
Republicans offered to move Democratic state Sen. Phillip P. Puckett and his daughter into prestigious jobs in exchange for Puckett’s resignation, which will flip the chamber into Republican hands. Puckett officially accepted the offer on Monday, but then appeared to back away amid a public outcry.
The Senate was on course to pass an expansion of Medicaid, as the law allows, while the House of Delegates, in GOP hands, aimed to block it.
What does this mean to the people of Virginia?
PolitiFact: There’s a tremendous amount of federal money at stake.
As many as 400,000 Virginians could become eligible for Medicaid under Obamacare, and the U.S. would pay their entire health care costs through 2016.
The most recent estimate of expansion costs (benefits to Virginia), released in January, breaks down to about $3.5 million a day for the budget year that starts this July 1. The federal contribution would be about $4.5 million a day during the following budget year, starting in mid-2015.
In short, the federal government would pump between $3.5 million and $4.5 million every day, into the Virginia economy, plus 400,000 Virginians would receive health care insurance.
But, the Republicans don’t want this. Why? They don’t want Obama and the Democrats to get the credit for these benefits. So they cut Virginians’ noses to spite Obama’s face.
Hey, who cares about the people. This is politics.
Eric Cantor Defeated by David Brat, Tea Party Challenger, in G.O.P. Primary Upset
By JONATHAN MARTINJUNE 10, 2014
David Brat, a professor at Randolph-Macon College in Ashland, Va., toppled Mr. Cantor, repeatedly criticizing him for being soft on immigration and contending that he supported what critics call amnesty for immigrants in the country illegally.
The Virginia Republican voters ousted one of the most powerful people in Congress, just to avoid accepting immigrants into their midst. They have left the frying pan of right-wing politics to the extreme right wing fire of Tea Party politics.
These voters have allowed fear and bigotry to craze them. And here is the irony.
The Tea Party is the extreme proponent of “small government, cut spending.” That philosophy has decimated the middle- and lower-income groups, not only by reducing benefits to the not-rich, but by reducing economic growth.
Reduced economic growth causes unemployment and reduced salaries in existing jobs, both of which have been a big issue in Virginia.
The Virginians’ middle- and lower-income’s primary fear of immigrants is that they will take these low wage jobs and will vote for people who side with immigrants.
So — ironically — Virginia’s middle- and lower-income groups vote for the Tea Party, because the Tea Party is the most anti-immigant party — even though it is the Tea Party that is most responsible for the middle- and lower-income group’s economic troubles.
In short, Virginians not only have voted to jump from the frying pan into the fire, but to elect the people who built the fire in the first place! And in the fall, they probably will vote Republican.
Not even a fiction writer could create such a crazy scenario.
Rodger Malcolm Mitchell
Ten 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. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (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
Vertical gray bars mark recessions.
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.