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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.
David Brat is the economics professor who beat Eric Cantor, the right winger, the “too-liberal-for-the-Tea-Party” guy. You can see Brat’s website here.
Here are a few of his opinions:
Obamacare has proven to be an economically disastrous law and an unconstitutional power grab by our Federal Government. The government cannot and should not be permitted to run and regulate nearly 20% of our nation’s economy.
We must restore the relationship between doctor and patient. We must restore the relationship between price and service in medicine. I support a plan to defund the law and replace it with free-market solutions that lower costs, improve quality, and increase access to care.
TRANSLATION: Obamacare has been an economic and human windfall for those states expanding Medicaid. Not only are those states receiving billions from the federal government, but millions of their poor people are receiving health care insurance. We right-wingers don’t like that.
In my “free-market” plan (the one that makes workers subservient to corporations), only the rich would be able to afford health care, which is as it should be.
Our national debt has skyrocketed, reaching over $17 trillion dollars. What our leaders in Washington fail to mention is the $127 Trillion dollars in unfunded liabilities (see U.S. Debt Clock).
This lack of leadership on both sides of the aisle threatens our nation’s stability and long term growth and forces an undue burden on our children and grandchildren. We must balance the federal budget by reducing spending.
I will support a balanced budget amendment which will force Congress to reign in the out of control federal spending and to restore confidence in the American economy.
TRANSLATION: Although I am an economics professor, I am clueless about Monetary Sovereignty. I actually believe what the “Debt Clock” says. I don’t know that the U.S. does not and cannot have unfunded liabilities.
I don’t understand the financial difference between the U.S. government and the governments of the states, counties and cities.
I also don’t understand that national debt is not, and never will be, a burden on our children and grandchildren — or more likely I understand it and am just mouthing the BIG LIE.
I also pretend not to understand that a balanced federal budget (aka “austerity”) would be a financial disaster.
When addressing the issue of immigration, we must start by securing our border. I reject any proposal that grants amnesty and undermines the fundamental rule of law. Adding millions of workers to the labor market will force wages to fall and jobs to be lost.
I support . . . a fair process to allow law abiding individuals to work towards becoming citizens of this great nation.
TRANSLATION: “Start by securing our border” means nothing can be done until zero brown-skinned people ever enter the country. By the way, you’ll note I said “border” not “borders.” We also have borders with Canada, but those are mostly white-skinned people, so they’re fine.
I also don’t want you to realize that “granting amnesty” means changing the law, so people receiving amnesty would, in fact, follow the rule of law. But, keep it quiet.
As an economist, I still haven’t learned that immigration isn’t what forces wages to fall and jobs to be lost. What does? My right-wing austerity and all those spending cuts.
By “fair process to work toward” citizenship, I prefer something with lots of hoops to jump through — something that takes at least 50 years and forces people to start over if they make the slightest mistake.
I am a strong supporter of gun rights. The right to keep and bear arms is a fundamental right enshrined in the constitution for a reason – it provides the people with the ultimate guarantee of sovereignty.
Our founding documents make it clear that our inalienable rights come from God and that the job of the government is to ensure and protect those God given rights.
TRANSLATION: “The ultimate guarantee of sovereignty” is code for: If the government does something we don’t like, we can resist the army, navy and marines with our pistols and rifles — ala my hero, Cliven Bundy.
I am oh-so religious and oh-so patriotic. That’s why I say that God wrote the Constitution and God gave us the right to carry guns anywhere we want. Those are in the bible, aren’t they?
As an economist and educator for eighteen years, I understand the value of a good education. I will support efforts to place Virginia’s teachers, parents, and local officials, who best understand the needs of the community, in control of our education system.
TRANSLATION: Don’t change anything. Our current education system is perfect, just the way it is. We need uneducated kids to do the grunt work for us elites.
NATIONAL SECURITY/FOREIGN POLICY
Ronald Reagan said it best: “Peace through strength.” A strong military is essential to the success of our nation. We must secure our borders, support the Armed Forces, both at home and abroad, and maintain a strong national defense in order to secure our country’s future. In addition, I support a full investigation into the Benghazi attacks.
TRANSLATION: Ronald Reagan is another one of my heroes. He opted for less deficit spending, then set a record for deficit spending.
He was against lying to Congress, except for the Iran-Contra affair.
He bankrupted much of the Savings & Loan industry with criminality and retro-active laws.
His Deaver and Nofzinger both were convicted of illegal lobbying.
His entire Department of Housing and Urban Development leadership was convicted of crimes while in office.
The same is true of his Environmental Protection Agency.
And there was the Department of Justice scandal.
But hey, let’s be outraged about Benghazi. That is the most important issue facing America.
I don’t like Social Security, Medicare, Medicaid, any aid to the poor, aids to education, relief of student loans or any other spending that benefits the middle- and lower-income groups.
But I love the military. Those weapons manufacturers really pay us politicians well.
I support a broad-spectrum energy approach that relies on the free market. The private sector must be set free to invest in natural gas, wind, solar, oil, nuclear, and other forms of energy as we move forward.
Ending our reliance on foreign oil and moving toward energy independence is vital to the future welfare of America.
TRANSLATION: Drill baby, drill. Who cares about the ecology or global warming or the world in which our children and grandchildren will live. Let’s take the money and run.
The federal government has grown far too large. I fully support the Constitution and enforcing the 10th Amendment and getting the government out of the way of economic growth. I will work to bring power back to the Commonwealth of Virginia.
TRANSLATION: Please don’t tell anyone that Virginia receives $1.51 from the federal government for every federal tax dollar it pays. (See: http://visualeconomics.creditloan.com/wp-content/uploads/sites/4/2009/11/tax.jpg)
Virginia is self-sufficient, but if those federal payments stopped, we’d be broke within this year.
UPHOLD HUMAN LIFE
Human life is sacred, as proclaimed by our founding documents, and I will always support laws that protect life. Our fundamental rights to life, liberty and the pursuit of happiness precede the existence of government and come from God, the Author of Nature.
These core constitutional rights have been usurped by the Judicial and Executive Branches and must be returned to the people and their representatives.
TRANSLATION: See, I told you I’m the most religious and patriotic guy in the room. That’s why I hate the government.
In fact, I so much want to get the government out of our lives that I want to pass a law outlawing a woman’s right to control her own body. And of course, there should be a federal law against gay marriage. But really, the government is too big and intrusive into our private lives.
That’s not hypocritical, is it?
But don’t worry: I’m a university professor and I teach your children.
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.