A letter from Marco Rubio

Sen. Marco Rubio, best known for not showing up for work, has demonstrated why his absence might be better for America than his attendance.

Here are excerpts from this truly ignorant letter I received today:

Dear Mr. Mitchell,

Thank you for taking the time to express your thoughts regarding spending and the federal budget.

Understanding your views helps me to better represent Florida in the United States Senate, and I appreciate the opportunity to respond.

As of May 20, 2021, the U.S. national debt had reached more than $28.3 trillion. This is an unsustainable course that Congress must address.

Why is it “unsustainable”? Sen. Rubio never says, surely because he has no clue.

Back in 1940, the so-called, misnamed “debt” was about $40 Billion, and today he says it is $28.3 Trillion, and yet we are “sustaining” it quite nicely, thank you.

Rather than explaining his position, Rubio goes on to demonstrate his total ignorance of federal financing:

On February 3, 2021, Senator Cindy Hyde-Smith (R-MS) and I introduced  S.J. Res. 6 , which would enact a balanced budget amendment to the United States Constitution. The bill has 14 cosponsors and was referred to the Senate Committee on the Judiciary.

A balanced budget is based on common-sense principles that should be enshrined in the U.S. Constitution. This would force politicians in Washington to do what every family across the United States must do in balancing their own budgets. This would also prevent us from continuously passing the bill to the next generation.

Clearly, he has no idea about the difference between a Monetarily Sovereign entity like the U.S. government and a monetarily non-sovereign entity like a family.

So he proposes an extraordinarily foolish law, that had it been in place back in 1940, would have doomed the U.S. to a $40 Billion “debt” today — i.e. the deepest depression in world history.

Pitifully, Rubio is joined in his exercise of idiocy by Sen. Cindy Hyde-Smith and “14 cosponsors.” With lawmakers like this, can anyone wonder why the U.S. Congress is perhaps the most inept group of partisan fools in America?

On March 27, 2020, President Trump signed into law the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), which was a $2 trillion emergency relief package that, among other things, provides small businesses with direct assistance to stay in business and keep American workers employed.

As Chairman of the Senate Committee on Small Business and Entrepreneurship last Congress, I was able to include the Keeping American Workers Paid and Employed Act , legislation that made $349 billion in forgivable loans to small businesses and nonprofits available through the Paycheck Protection Program (PPP). 

Good grief, this no-show is chairman of a Senate committee!

Furthermore, on December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (P.L. 116-260), which provided $1.4 trillion to fund the federal government through September 30, 2021. 

While reducing federal spending is one of my top priorities, I believe it was appropriate during the COVID-19 pandemic to help small businesses stay open by providing government assistance, especially when much of their lost revenue came from government public health regulations. 

“See, it’s like this. Deficit spending is OK if Trump and I do it, even though it would have been unconstitutional if my dopey balanced budget amendment had passed.

“Gee, I never thought of that. I would have violated my own law.”

On March 11, 2021, President Biden signed in to law the American Rescue PlanAct (P.L. 117-2), which was a $1.9 trillion COVID-19 relief package. Unlike previous COVID-19 relief packages, this bill was passed with a solely partisan vote in the Senate.

I did not support the bill . . .

“Because I have no idea what was in it, and anyway, McConnell told me not to.”

 . . . as it spent hundreds of billions of dollars on items unrelated to COVID-19 recovery . . . 

“Because I was told that the only reason for federal spending is COVID. So, not one Republican wanted to add dollars to an economy that was struggling, and desperately in need of help.

“Hmm, I wonder why with a Democrat President, we Republicans suddenly are worried about deficits. We didn’t worry when we gave a big tax break to the rich while the wealthy Donald Trump was President.”

In addition to the wasteful spending enacted by the American Rescue Plan, President Biden has proposed even more wasteful spending in his proposed federal budget.

Despite having just spent $1.9 trillion in the American Rescue Plan, President Biden has proposed a federal discretionary budget of more than $1.5 trillion.

Now that the economy is re-opening . . .

“Because of the federal deficit spending, but I don’t want you to know that . . .”

. . . Congress will need to rein in reckless federal spending and prioritize policies that get Americans back to work and help the economy recover . . . 

“Which by some magic can be accomplished without federal deficit spending.”

It is an honor and a privilege to serve you as your United States Senator.

I will keep your thoughts in mind as I consider these issues and continue working to ensure America remains a safe and prosperous nation.

“I have no idea what your thoughts were. I never read your letter, and I wouldn’t have understood it anyway. But I love being a Senator.”

Sincerely,

Marco Rubio
U.S. Senator 

Thank you, Senator, for your most informative letter. It confirms what we long have known.

 

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
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