Contact your Senators, Representative and the media

Uncategorized 2 Minutes

We just finished the latest in over 100 episodes of “Debt Limit BS or How Government Lies Convince You to Accept Fewer Benefits While the Rich Get More.”

Being bribed by the rich, Congress does all it can get away with to widen the income/wealth/power gap between you and the rich.

One method is to tell you that federal government spending is “unsustainable,” or “out of control,” or is not “prudent,” or that the so-called federal debt is a “ticking time bomb.“

Never mind that they have been telling you the same lie for more than 80 years. While Federal Spending has increased the debt that isn’t a debt from $50 billion to $30 trillion, the nation still stands.

They lie because they are bribed and because they assume you know no better, so they can get away with it.

We all should contact our Congress people and the media and challenge them to answer a very simple question.  Perhaps that will be a step toward narrowing the gap between you and the rich and give you the benefits you deserve and the government easily can afford.

If you’re tired of the BS, give this a try.

Oh, by the way, do you remember the Gephart Rule? 

In 1979, noting the potential problems of hitting a default, Dick Gephardt imposed the “Gephardt Rule,” a parliamentary rule that deemed the debt ceiling raised when a budget was passed.

This resolved the contradiction in voting for appropriations but not voting to fund them. The rule stood until it was repealed by Congress in 1995.

Get it? When Congress voted for an appropriation, it also voted to fund them.

So, if Congress said, “We authorize spending a billion dollars on a dam,” that meant a billion dollars immediately became available to build a dam.

Makes sense to any normal person. Apparently, though, it was too logical for Congress.

In 1995, Congress said, “When we authorize spending a billion dollars to build a dam, we really don’t authorize paying a billion dollars to build the dam.”

And if that makes sense to you, you should run for Congress. Since that convulsion of childish illogic, Congress has plagued the nation with repeated debt limit crises.

Contact your Congress people and the media. If you don’t, then don’t complain about cuts to Medicare, Social Security, Medicaid, food stamps, and other benefits.

As long as you don’t complain, they will keep cutting.

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.

MONETARY SOVEREIGNTY

Published by Rodger Malcolm Mitchell

MBA Northwestern, business turnaround expert, economist

Published

23 thoughts on “Contact your Senators, Representative and the media”

  1. Raising the interest rate to slow inflation hurts the poor while helping the wealthy. Thus, it has been for at least 40 years. When are We the People going to refuse to accept this bullshit?

    Like

    Reply

        1. . . . which they accomplish by widening the Gap between them and you. This requires them to get more for themselves, and, most importantly, you to get less.

          The rich spend a great deal of time, money, and energy making sure you get less. Mostly, though not entirely, this is done via the Republican party. The Dems often are complicit, but the GOP is the real engine.

          Think about this the next time the GOP demands that Obamacare is unaffordable, work requirements should be put on poverty aids, and FICA must be increased.

          Like

          Reply

  3. Good idea. And we could also say to the banks who own most of the treasuries: Here is your money back plus interest earned just re-invest it in something constructive/productive is all. Probably 90% of the national “debt” goes “poof”. Then we just amend the FED’s charter saying it no longer must turn all government created money instantly into debt, just account for it and directly distribute it in the many places it needs to go…especially in rebating the 50% Discount at retail sale policy that has so many beneficial effects and resolves major problems like inflation and chronic scarcity of individual purchasing power and hence demand for enterprise’s goods and service.

    Like

    Reply

  4. My question is: IF a policy of Monetary Sovereignty is “somehow” agreed to by Democrats, will big business still conspire to gradually inflate prices citing phony costs, or will they hold the line in the interest of going along with MS policy and, in turn, reap more sales from stable prices plus a favorable stock market response?

    Liked by 1 person

    Reply

    1. It depends on the item being purchased and the company from which it’s purchased. I assume if the federal government agrees to pay for something, its price will go up, but that’s not necessarily a bad thing.

      The government has infinite dollars. More dollars will be pumped into the private sector and those dollars will grow the economy. The real issue is Gap Psychology — where those dollars go — not whether the government might pay “too much” for something.

      Like

      Reply

      1. Last question. Is there anything non-inflationary about Monetary Sovereignty that will encourage price stability, or are prices always going to be basically open-ended?

        Like

        Reply

        1. Price stability has to do with recessions, depressions, and inflations. We often have discussed how MS prevents and cures recessions and depressions.

          By GDP formula, federal spending increases GDP, so spending on anything helps. The major consideration only is to be sure the spending narrows the Gap between the rich and the rest.

          Inflation is a general increase in prices. Prices increase when there is a scarcity of products and services, notably oil and food, but sometimes other products and services, too.
          Despite common knowledge, inflation never has been caused by federal spending. It always has been caused by scarcity. (And no, federal spending does not cause people to eat more or drive more or heat their houses more.) Inflationary scarcity always is caused by supply-oriented events.

          Scarcities are cured by increasing the supply. MS gives the government the power to increase the supply of scarce goods and services.

          A scarcity of oil, food, and other goods, can be prevented by the government paying for increased manufacture or importation and distribution of the scarce goods.

          A scarcity of labor can be prevented and cured by the government making labor less expensive for business. It can do this by funding Medicare for All (i.e. reducing or eliminating FICA) and funding retirement. Those both are expenses businesses consider when hiring, so they reduce the salaries businesses can pay.

          Like

          Reply

          1. I get what you say. But I find it hard to believe the .1% are so selfish, stupid, and narrow-minded that they cannot see how much more they’ll have to gain in allowing the 99% greater participation. You would think far more money means more than superimposing far more misery.

            Like

    2. Not if we implement a 50% Discount/Rebate policy at retail sale. Retail sale is the single universally participated in point in the entire economic process thus EVERYONE experiences beneficial price and asset deflation because we’ve never even been close to having 50% moment to moment inflation. And no we won’t see some a$$hole CEO raising their prices by 30% or something because if even one of their competitors doesn’t raise their prices how much market share is the non-inflating CEO going to take from the inflating one? You also want to tax any revenues garnered from arbitrary inflation at a rate of 100% and punish serial such inflationary behavior by varying lengths of suspension of their Rebate privileges. After all of this even if inflation is 3-4% m/o/m you just index the retail discount percentage to 53-54%.

      Like

      Reply

    3. What happened in Japan where it effectively has happened? Their policy rate is -0.1% IOER and the yield on a 10 year JGB is 0%

      Like

      Reply

  5. It appears all those cuts you mentioned –social security, medicare, etc. –have been averted, assuming Senate will go along, and the phony debt limit problem will disappear for a few years before it can be taken up again. But it’s never going to go away; it’s become a psychological tool for the desperate GOP.

    Like

    Reply

    1. Sleepy Joe is old, to be sure, but he gets things done in an environment of unrelenting GOP hostility to anything the Dems want. He proves that quiet negotiation works better than loud-mouth bravado.

      1) $1.2 trillion infrastructure package
      2) $1.9 trillion COVID relief deal
      3) Highest appointment of federal judges since Reagan
      4) Halt on federal executions
      5) Rejoined the international Paris Climate Accord
      6) Mandated converting the federal fleet to zero-emission vehicles.
      7) Support for transgender service members.
      8) Reduced unemployment.
      9) Strengthened QUAD, alliance U.S., India, Australia, and Japan.
      10) Student loan debt relief
      11) Used the Russia/Ukraine war to strengthen NATO, which Trump tried to weaken.
      12) Imposed crippling sanctions on Russia
      13) Fought Saudi’s oil price increases by releasing 180 million barrels of oil from the country’s Strategic Oil Reserves.
      14) Pardoned people convicted of a federal marijuana charge
      15) Respect for Marriage Act
      16) Prevented the rail strike and gave workers a significant raise.
      17) Passed Government Funding Bill
      18) Got us out of Afghanistan, ending years of American deaths.
      19) Expanded healthcare.
      20))Defended Obamacare
      21) Negotiated lifting the debt limit to prevent an economic disaster
      But yes, I wish he were younger, but more importantly, a better communicator. Most people have no idea how much he accomplished in just a couple of years. Given a sensible House, he would have accomplished much more.

      Like

      Reply

      1. If the poor communicator is so wonderful why does he spend so much time listening to a fool like Larry Summers?

        During the Anita Hill fiasco 30 years ago wasn’t it an inept chairman Biden that declined to call for testimony any of the other female witnesses who had come forward about Sleazebag Thomas?

        read a book by a former Biden aide about why Wall Street escaped punishment after the financial crisis and a lot about how Biden acts started making sense: https://twitter.com/ryanlcooper/status/1545039257567461376/photo/1

        Dithering Biden – yep that is him. Someone I once knew had an older sibling who described him exactly that way from their time working for a few years after college as a Congressional staffer [heard that from the older sibling in Summer 2007 when Biden was attempting a presidential run and kept turning up here in Dubuque, Iowa].

        Like

        Reply

        1. Which shows no one is perfect. He worked for Obama, who was an economics fool. There is right thing, the wrong thing, and the political thing, and the pols do all three.

          Yet he has accomplished more than any President since Lyndon Johnson.

          Like

          Reply

Leave a comment