Let’s begin with a few facts:

  1. Unlike state/local governments, the U.S. government is Monetarily Sovereign. That means it never, NEVER, unintentionally can run short of its own sovereign currency, the U.S. dollar.
  2. Federal taxes do not support federal spending. Even if all federal tax collections ceased, the federal government could continue spending forever.

    Amazon Pay Joins the War on Cash – #hiswai

    The federal government has infinite money. It cannot run short of dollars.

  3. The federal debt and deficit are not a burden on anyone — not on you, not on your grandchildren. On the contrary, when federal debt growth slows, we have recessions and depressions, which are cured by increases in federal debt growth.
  4. Inflations never are caused by federal deficit spending. Inflations always are caused by shortages, most often by shortages of food and/or energy. In fact, inflations often are cured by deficit spending to obtain and distribute the scarce goods.
  5. Federal deficit spending itself is not socialism. Socialism is government ownership and control. That said, some forms of socialism are good for the economy. Examples: Virtually all streets and highways, Social Security, public parks and beaches, many museums and zoos, many rivers and lakes, the military and VA hospitals, many libraries, federal lands, federal buildings, federal agencies like NASA, FBI, and CIA.
  6. Government in itself is neither good nor bad. Government is a tool. The function of the tool is to improve and protect the lives of the people. To the degree it fulfills that mission, it is good. Where it fails that mission, it is bad. Mere size is not an issue any more than the size of the pencil in the voter’s booth is an issue.

Given all of the above, why do we see an article like this? “Congress likely to avert government shutdown, Brady Tax Package heads toward floor vote”

I. Given Congress’s infinite checkbook, why is there even a discussion of a government shutdown?

II. The Democrats had suggested $1,200 checks. Even Trump wanted $2,000 checks. Why was this reduced to $600, and still is being debated, in face of the private sector’s worst financial crisis in many years?

III. Why exclude assistance to states?

IV. Why has Congress struggled for months to produce a plan for preventing/curing the COVID recession, that has hurt so many people?

V. Pfizer Says Millions of COVID-19 Vaccine Doses Are Sitting Unclaimed in Warehouse Coolers. The federal government has not given the company shipping instructions. Why?

You can contact your Senator or Representative– that person to whom you gave your valuable vote — and ask these questions.

Do you think you will get an informative answer? An honest answer? An intelligent answer?

If not, why did you toss away your vote on an uninformative, dishonest, unintelligent fool?

What should Congress really do? Institute the Ten Steps to Prosperity (below) immediately, especially rush Step #3: Social Security for All.

Give me one good reason why not.

Rodger Malcolm Mitchell

Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

  1. Monetary Sovereignty describes money creation and destruction.
  2. Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics. Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:

Ten Steps To Prosperity:

  1. Eliminate FICA
  2. Federally funded Medicare — parts A, B & D, plus long-term care — for everyone
  3. Social Security for all or a reverse income tax
  4. Free education (including post-grad) for everyone
  5. Salary for attending school
  6. Eliminate federal taxes on business
  7. Increase the standard income tax deduction, annually. 
  8. Tax the very rich (the “.1%”) more, with higher progressive tax rates on all forms of income.
  9. Federal ownership of all banks
  10. Increase federal spending on the myriad initiatives that benefit America’s 99.9% 

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY