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•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..
•Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
•The single most important problem in economics is the Gap between rich and poor.
•Austerity is the government’s method for widening the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
What do these Republican initiatives have in common?
House votes – again – to repeal Obamacare
Deirdre Walsh Profile
By Deirdre Walsh, Senior Congressional Producer
The vote was 239-186, with no House Democrat supporting the measure and three House GOP freshmen opposing it.
This latest vote marked the 67th time the House has voted to entirely repeal, defund or change some provisions of President Barack Obama’s signature health care law.
It was the latest move in the battle over the targeting of tea party groups at the tax agency.
Less than a week earlier, the Justice Department issued a report finding no criminal behavior in the decision by top IRS officials to subject conservative groups to intrusive scrutiny.
As might be expected, the “Benghazi Committee” hearings have proven not much more than a means for each party to grandstand for political points.
The House Select Committee on Benghazi is narrowing in on one high-ranking State Department official who has “magically” avoided punishment for failing to provide additional security in Benghazi before the Sept. 11, 2012, attack there, South Carolina Rep. Trey Gowdy said in an interview.
The Senate’s No. 2 Republican wants Attorney General Loretta Lynch to appoint a special counsel to investigate the Clinton email controversy.
“The Attorney General has a special duty to pursue justice even when political considerations run counter to doing so.”
Congressional Republicans say they are short of the votes for raising the debt limit and avoiding a first-ever government default. With barely a week before the deadline, there’s no plan on what to do.
The big budget deal announced late last night is being decried as a “surrender” by conservatives who are unhappy that it boosts defense and non-defense spending, even as it insufficiently cuts Social Security and Medicare.
This is, as Philip Klein writes, a big loss for conservatives who actually want to substantially slash spending.
It’s no longer just Donald Trump, whose rise in the polls came after he labeled Mexican immigrants “criminals” and “rapists.”
A host of GOP candidates called this week for an end to automatic citizenship for American-born children of immigrants in the United States illegally.
Wisconsin Gov. Scott Walker, Sen. Ted Cruz of Texas and Louisiana Gov. Bobby Jindal each backed Trump’s call to end automatic citizenship. Jindal hoped no one would notice that he was born to parents in the United States on green cards.
Former Florida Gov. Jeb Bush urged tougher enforcement against “anchor babies,” an epithet for children born to parents in the country illegally and often a reason families in the country illegally are not deported.
I don’t know what you see, but what I see is a party that seems devoid of ideas, and seems to spend all its time, money and effort in political vandalism and bigotry.
Like bad boys, the Republicans seem determined to break every window of opportunity and to slash every tire on the social progress bus, and to denigrate everyone who is not a ultra-white, ultra-right-wing Christian — but never to create anything worthwhile.
I visualize one party with a history of grand vision and creation: Social Security, Medicare, Medicaid, social programs to support the poor, the elderly and the middle classes.
And I visualize the other party devoted to tiny and destructive causes: Lawsuits and attempts to dismantle anything that benefits the poor, the elderly and the middle classes, hatred for gays and foreigners and anyone “different.”
In keeping with the trend, the Republicans now have fielded the craziest group of Presidential candidates since — well, since Sarah Palin.
Currently the leading Republican is Ben Carson — Ben Carson, the medical doctor who also denies evolution(!) That says much.
The Tea Party and the House Freedom Caucus are but the tip of the right-wing iceberg. What used to be considered the lunatic fringe, now has become the center of the right.
Public Policy Polling asked Republican voters if they believe Obama was born in the United States.
Only 29% said yes Obama was born in the USA. More shockingly 40% said yes Canadian-born Cruz was born in the USA.
Only 40 percent of GOP voters believe Islam should definitely be legal, and the other 20 percent said they weren’t sure.
When asked if a Muslim should ever be allowed to be president, 72 percent of Republicans said no, and 12 percent were unsure. Only 16 percent of GOP voters said a Muslim should be able to hold the office.
America has succeeded in part, because of our two-party system, with each party producing ideas and plans to grow the nation. We cannot grow — we cannot even survive — if only one party wishes to build, while the other party wishes only to tear down.
We cannot grow — we cannot even survive — when small-minded bigots and mean-spirited fools rule.
Let us hope that sometime soon, sanity returns to the Republican party, before America becomes irrevocably damaged.
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 Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
The Ten Steps will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.
THE RECESSION CLOCK
Recessions come after the blue line drops below zero.
Vertical gray bars mark recessions.
As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.