An updated reference of “federal debt is a ticking time bomb” lies.

The U.S. federal government is not like state/local governments, not like euro governments, not like businesses, and not like you and me. It uniquely is Monetarily Sovereign.

It cannot, unwillingly, run short of its own sovereign currency, the U.S. dollar. /

Periodically, we publish yet another shrieking claim that the U.S. federal debt is “unsustainable” and a “ticking time bomb.”

This lie has been told to you every year (really, almost every day) since 1940, and needless to say, that bomb never has exploded.

Rather than repeat the entire litany of lies to which you have been subject, I will list them here as a reference, and add, at the end, new “federal debt is a ticking time bomb” lies as I encounter them:

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September 1940, the federal budget was a “ticking time-bomb which can eventually destroy the American system,” said Robert M. Hanes, president of the American Bankers Association.

**September 26, 1940, New York Times, Column 8**

By 1960: the debt was “threatening the country’s fiscal future,” said Secretary of Commerce, Frederick H. Mueller. (“The enormous cost of various Federal programs is a time-bomb threatening the country’s fiscal future, Secretary of Commerce Frederick H. Mueller warned here yesterday.”)

By 1983: “The debt probably will explode in the third quarter of 1984,” said Fred Napolitano, former president of the National Association of Home Builders.

In 1984: AFL-CIO President Lane Kirkland said. “It’s a time bomb ticking away.”

In 1985: “The federal deficit is ‘a ticking time bomb, and it’s about to blow up,” U.S. Sen. Mitch McConnell. (Remember him?)

Later in 1985: Los Angeles Times: “We labeled the deficit a ‘ticking time bomb’ that threatens to permanently undermine the strength and vitality of the American economy.”

In 1987: Richmond Times-Dispatch – Richmond, VA: “100TH CONGRESS FACING U.S. DEFICIT’ TIME BOMB'”

Later in 1987: The Dallas Morning News: “A fiscal time bomb is slowly ticking that, if not defused, could explode into a financial crisis within the next few years for the federal government.”

In 1989: FORTUNE Magazine: “A TIME BOMB FOR U.S. TAXPAYERS“

In 1992: The Pantagraph – Bloomington, Illinois: “I have seen where politicians in Washington have expressed little or no concern about this ticking time bomb they have helped to create, that being the enormous federal budget deficit, approaching $4 trillion.“

Later in 1992: Ross Perot: “Our great nation is sitting right on top of a ticking time bomb. We have a national debt of $4 trillion.”

In 1995: Kansas City Star: “Concerned citizens. . . regard the national debt as a ticking time bomb poised to explode with devastating consequences at some future date.”

In 2003: Porter Stansberry, for the Daily Reckoning: “Generation debt is a ticking time bomb . . . with about ten years left on the clock.”

In 2004: Bradenton Herald: “A NATION AT RISK: TWIN DEFICIT A TICKING TIME BOMB“

In 2005: Providence Journal: “Some lawmakers see the Medicare drug benefit for what it is: a ticking time bomb.”

In 2006: NewsMax.com, “We have to worry about the deficit . . . when we combine it with the trade deficit we have a real ticking time bomb in our economy,” said Mrs. Clinton.

In 2007: USA Today: “Like a ticking time bomb, the national debt is an explosion waiting to happen.“

In 2010: Heritage Foundation: “Why the National Debt is a Ticking Time Bomb. Interest rates on government bonds are virtually guaranteed to jump over the next few years.

In 2010: Reason Alert: “. . . the time bomb that’s ticking under the federal budget like a Guy Fawkes’ powder keg.”

In 2011: Washington Post, Lori Montgomery:”. . . defuse the biggest budgetary time bombs that are set to explode.”

June 19, 2013: Chamber of Commerce: Safety net spending is a ‘time bomb’, By Jim Tankersley: The U.S. Chamber of Commerce is worried that not enough Americans are worried about social safety net spending. The nation’s largest business lobbying group launched a renewed effort Wednesday to reduce projected federal spending on safety-net programs, labeling them a “ticking time bomb” that, left unchanged, “will bankrupt this nation.”

On June 15, 2014: CBN News: “The United States of Debt: A Ticking Time Bomb“

On June 18, 2015: The ticking economic time bomb that presidential candidates are ignoring: Fortune Magazine, Shawn Tully,

On February 10, 2016, The Daily Bell: “Obama’s $4.1 Trillion Budget Is Latest Sign of America’s Looming Collapse”

On January 23, 2017: Trump’s ‘Debt Bomb‘: Deficit May Grow, Defense Budget May Not, By Sydney J. Freedberg, Jr.

On January 27, 2017: America’s “debt bomb is going to explode.” That’s according to financial strategist Peter Schiff. Schiff said that while low interest rates had helped keep a lid on U.S. debt, it couldn’t be contained for much longer. Interest rates and inflation are rising, creditors will demand higher premiums, and the country is headed “off the edge of a cliff.”

On April 28, 2017: Debt in the U.S. Fuel for Growth or Ticking Time Bomb?, American Institute for Economic Research, by Max Gulker, PhD – Senior Research Fellow, Theodore Cangeros

February 16, 2018 America’s Debt Bomb By Andrew Soergel, Senior Reporter: Conservatives and deficit hawks are hurling criticism at Washington for deepening America’s debt hole.

April 18, 2018 By Alan Greenspan and John R. Kasich: “Time is running short, and America’s debt time bomb continues to tick.”

January 10, 2019, Unfunded Govt. Liabilities — Our Ticking Time Bomb. By Myra Adams, Tick, tick, tick goes the time bomb of national doom.

January 18, 2019; 2019 Is Gold’s Year To Shine (And The Ticking U.S. Debt Time-Bomb) By Gavin Wendt

April 10, 2019, The National Debt: America’s Ticking Time Bomb. TIL Journal. Entire nations can go bankrupt. One prominent example was the *nation of Greece which was threatened with insolvency, a decade ago. Greece survived the economic crisis because the European Union and the IMF bailed the nation out.

July 11, 2019: National debt is a ‘ticking time bomb ‘: Sen. Mike Lee

SEP 12, 2019, Our national ticking time bomb, By BILL YEARGIN SPECIAL TO THE SUN SENTINEL | At some point, investors will become concerned about lending to a debt-riddled U.S., which will result in having to offer higher interest rates to attract the money. Even with rates low today, interest expense is the federal government’s third-highest expenditure following the elderly and military. The U.S. already borrows all the money it uses to pay its interest expense, sort of like a Ponzi scheme. Lack of investor confidence will only make this problem worse.

JANUARY 06, 2020, National debt is a time bomb, BY MARK MANSPERGER, Tri City Herald | The increase in the U.S. deficit last year was about $1.1 trillion, bringing our total national debt to more than $23 trillion! This fiscal year, the deficit is forecasted to be even higher, and when the economy eventually slows down, our annual deficits could be pushing $2 trillion a year! This is financial madness. there’s not going to be a drastic cut in federal expenditures — that is, until we go broke — nor are we going to “grow our way” out of this predicament. Therefore, to gain control of this looming debt, we’re going to have to raise taxes.

February 14, 2020, OMG! It’s February 14, 2020, and the national debt is still a ticking time bomb! The national debt: A ticking time bomb? America is “headed toward a crisis,” said Tiana Lowe in WashingonExaminer.com. The Treasury Department reported last week that the federal deficit swelled to more than $1 trillion in 2019 for the first time since 2012. Even more alarming was the report from the bipartisan Congressional Budget Office (CBO) predicting that $1 trillion deficits will continue for the next 10 years, eventually reaching $1.7 trillion in 2030

April 26, 2020, ‘Catastrophic’: Why government debt is a ticking time bomb, Stephen Koukoulas, Yahoo Finance [Re. Monetarily Sovereign Australia’s debt.]

August 29, 2020, LOS ANGELES, California: America’s mountain of debt is a ticking time bomb The United States not only looks ill, but also dead broke. To offset the pandemic-induced “Great Cessation,” the U.S. Federal Reserve and Congress have marshalled staggering sums of stimulus spending out of fear that the economy would otherwise plunge to 1930s soup kitchen levels. Assuming that America eventually defeats COVID-19 and does not devolve into a Terminator-like dystopia, how will it avoid the approaching fiscal cliff and national bankruptcy?

April 16, 2021, NATIONAL POLICY: ECONOMY AND TAXES / MARK ALEXANDER / The National Debt Clock: A Ticking Time Bomb: At the moment, our national debt exceeds $28 TRILLION — about 80% held as public debt and the rest as intragovernmental debt. That is $225,000 per taxpayer. Federal annual spending this year is almost $8 trillion, and more than half of that is deficit spending — piling on the national debt.

June 17, 2022 Time Bomb On National Debt Is Counting Down Faster Thanks To Fed’s Rate Hike, Tim Brown /We are now staring down the barrel of the end of the U.S. economy based on fiat money, printed out of thin air but charged back to the people at ridiculous interest rates. Now, the national debt is approaching $31 trillion, which is $12 trillion more than when Donald Trump took office in 2017 and more than half of that debt was tacked on in his final year. Then we’ve had the disastrous year and a half of Joe Biden. Now, the Fed is now hiking its rates and that spells even more trouble for the national debt and the economy at large.

December 4, 2022 America’s ticking time bomb: $66 trillion in debt that could crash the economy By Stephen Moore, The national debt is $31 trillion when including Social Security’s and Medicare’s unfunded liabilities. Wake up, America.That ticking sound you’re hearing is the American debt time bomb that with each passing day is getting precariously close to detonating and crashing the US economy.

January 13, 2023. A ticking time bomb in the U.S. economy is running perilously close to detonation. Long considered a harbinger of bad luck, Friday, Jan. 13 came with a warning for Congress that the country could default on its debt as soon as June. With the U.S. reaching its debt limit of $31.4 trillion on Jan. 19, Treasury Secretary Janet Yellen urged lawmakers to increase or suspend the debt ceiling.

February 5 2023 ‘The world’s largest Ponzi scheme’: Peter Schiff just blasted the US debt ceiling drama. Here are 3 assets he trusts amid major market uncertainty Story by Bethan Moorcraft, A ticking time bomb in the U.S. economy is running perilously close to detonation. With the U.S. reaching its debt limit of $31.4 trillion on Jan. 19, Treasury Secretary Janet Yellen urged lawmakers to increase or suspend the debt ceiling.

April 22, 2023 The Debt Ceiling Debate Is About More Than Debt, Jim Tankersley, WASHINGTON — Speaker Kevin McCarthy of California has repeatedly said that he and his fellow House Republicans are refusing to raise the nation’s borrowing limit, and risking economic catastrophe, to force a reckoning on America’s $31 trillion national debt. “Without exaggeration, America’s debt is a ticking time bomb that will detonate unless we take serious, responsible action,” he said this week.

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If, year after year , you keep predicting something is imminent, yet it never happens, at what point do you reexamine your beliefs? Apparently never, for the debt heads. Truly pitiful. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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

The most important problems in economics involve:

Monetary Sovereignty describes money creation and destruction.
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

The useless, no harmful, battles over the Big Lie

Imagine witnessing an argument between two people. Person #1 says, “A stork delivers babies.” Person #2 says, “FedEx delivers babies.” What would you say about that argument? That it’s so ignorant as to be beyond words? It’s pretty much what I say about arguments concerning the U.S. federal “debt.”

Dems, Republicans Far Apart On Soaring U.S. Debt: I&I/TIPP Poll, Terry Jones, April 17, 2023

The perennial dance between the president and Congress over the budget and raising America’s debt ceiling is a widely reported but much-ignored, event. This time around, it shouldn’t be.

Even as our national debt soars, Americans are split over how serious the problem is, the latest I&I/TIPP Poll shows. Meanwhile, a government shutdown, or even possibly default, looms.

At the last official count, federal debt totaled about $31.5 trillion. Looked at from a different perspective, $31.5 trillion means each American household is now responsible for roughly $237,500 in U.S. debt.

There is the Big Lie in all its glory. As an American, you are responsible for exactly $0 of the so-called “debt” (that isn’t even a real debt).

And it’s getting bigger fast, posing a threat to both the economy and the financial system. If Congress and President Joe Biden can’t make a deal soon, a government shutdown, or worse, possible default, loom.

What exactly is the “threat”? Is it that our Monetarily Sovereign government, which has the infinite ability to create its sovereign currency, the dollar, will be unable to service the “debt”? No, as previous Federal Reserve Chairs have said:

Alan Greenspan: “A government cannot become insolvent with respect to obligations in its own currency.”

Ben Bernanke: “The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.”

Will the interest on the “debt” bankrupt the government? No:

Alan Greenspan: “There is nothing to prevent the federal government from creating as much money as it wants and paying it to somebody.”

The federal “debt” isn’t even federal debt. It is the net total of deposits into T-security accounts held at the Federal Reserve. Each account resembles a safe deposit box. The depositor owns the contents. When each account matures, the contents are returned to the owner by transference to the owner’s checking account. It’s a simple asset transfer that does not involve you — not as a debtor, taxpayer, or American citizen — not in any way. So you can forget about the $237,500 Terry Jones, the author, claims you owe. You don’t.

How does the public feel about this? The online I&I/TIPP Poll for April, taken from March 29-31 from 1,365 Americans across the country, asked the following question: “Some say that the debt is not sustainable.

Others say that the debt is manageable relative to the size of the American economy. Which is closer to your viewpoint?”

The respondents were given the false choice of two wrong answers. The “debt” is neither sustainable nor “manageable.” It is meaningless. The size of the economy is not the point. So long as America’s obligation to creditors is in U.S. dollars, it is totally under the control of the U.S. government. Governments get into financial trouble when:

They are monetarily non-sovereign, so they cannot create whatever currency they use (Examples are cities, counties, states, and euro nations) or
They are Monetarily Sovereign but still trade and borrow in U.S. dollars or some other currency, not their own (Examples are Argentina, Russia, Venezuela).

Overall, voters saying the debt is “not sustainable” totaled 48%, a plurality, compared to those who called the debt “manageable relative to the size of the economy” at 35%. (The poll’s margin of error is +/-2.8 percentage points.)

It was a meaningless poll. The public believes what they are told, and they are wrongly told that federal (Monetarily Sovereign) financing is like personal (monetarily non-sovereign) financing.

The political breakdown, however, is telling and perhaps explains why the debt debate each year gets increasingly divisive and angry: Republicans (74%) and independents (50%) overwhelmingly call the debt unsustainable, compared to Democrats at just 32%.

Only 14% of Republicans and 28% of independents call the debt “manageable,” versus 51% of Democrats who do.

This huge split between Democrats on one side, and Republicans and independents on the other, will make it hard to forge a deal satisfactory to both sides. Failure to do so risks a financial cataclysm.

It isn’t the split that makes it hard to forge a satisfactory deal. It’s just that the two alternatives are of the “stork vs. angel” variety. The third alternative — that the so-called “debt” (i.e., deposits) is meaningless — was not offered.

What can be done? On Jan. 19, the debt ceiling was hit, meaning the government has had to play a kind of fiscal shell game to pay its bills.

As though the use of the term “debt” to mean “deposits” and the wrongheaded worries about “sustainability” (whatever that means) weren’t enough, the not-a-debt also repeatedly has been called a “ticking time bomb” every year since 1940. In 1940 the Gross Federal Debt was $51 Billion. By 2022, it was $31 Trillion, an astounding 60,000% increase. Annual predictions have been made that the “debt” is not sustainable, and every year America sustains it. Although it is the slowest time bomb in history, you can rely on this year’s repeat of the annual predictions that the “debt” is “unsustainable.” And as for that “shell game,” it’s the result of a strange law that essentially says, “We will punish our creditors unless they immediately return the dollars that T-security account owners have deposited.”

House Republicans, negotiating with the Biden administration, have put forward a plan to temporarily raise the debt ceiling until May of next year. In exchange for avoiding a possible federal default, they seek caps on federal spending,

The argument is this. The debt is unsustainable, but we’ll raise this unsustainable ceiling if you take dollars from the middle classes and the poor. Yes, really.

“The GOP proposal would call for a cap on either non-defense discretionary spending or overall discretionary spending after paring the federal budget back to 2022 levels,” the Washington Times reported last week.

What exactly is “non-defense discretionary spending“?

Non-Defense Discretionary Spending, Fiscal Year 2019

In 2019, non-defense discretionary (NDD) spending totaled $661 billion, or 14 percent of federal spending. That same year, the federal “debt” was $23 Trillion. The entire NND was less than 3% of the so-called “debt.” Would you be willing to see every dollar cut from health care and health research, diplomacy, science, environment, energy, transportation, economic development, law enforcement and governance, education and training, and economic security? Oh, but that’s not all.

“The proposal would also claw back unspent COVID-19 funds, block President Biden’s student loan forgiveness plan that is currently tied up in a Supreme Court battle, institute work requirements for social welfare programs and implement the Republican plan to lower energy costs, which passed the House but is expected to languish in the Senate,” the report said.

Essentially, the GOP’s idea is to punish the poor and middle classes and reward the military-industrial complex, all for the dubious accomplishment of immediately returning the deposits in T-security accounts. Of course, the GOP doesn’t have a real plan. Those were some general suggestions. They have refused to devise an actual plan because their only thought is to negate anything Biden suggests and exact Trumpian revenge by investigating Democrats. It’s the failed Benghazi investigation all over again.

And the White House’s position has always been: No preconditions. Just raise the debt ceiling.

The real position should be “No preconditions. Just eliminate the debt ceiling. But, the public has been imbued with the notion that having a debt ceiling makes for prudent finance. So flat-out elimination only can be accomplished when the public is educated that the “debt” is meaningless for a Monetarily Sovereign government. Strangely, the public doesn’t complain when the ceiling arbitrarily is raised — 90 times — but probably would object to it being eliminated. That’s human thought.

Fresh from his April 11-14 trip to Ireland, Biden had this to say when asked if he would talk to McCarthy:

“Of course, I’ll speak to him. Show me his budget,” Biden told reporters. “That old expression — ‘show me your budget.’ You know, he — we agreed early on, I’d lay down a budget, which I did on March 9th, and he’d lay down a budget.”

“I don’t know what we’re negotiating if I don’t know what they want,” Biden added.

Sunday was the deadline for Congress to agree on a new budget. For the 20th year in a row, it failed in that responsibility. No surprise there since the Senate is controlled by the Democrats and the House by Republicans, who remain far apart in their priorities.

What should be done?

It’s not a difficult question. The debt ceiling should be eliminated. Period.

The Biden Administration believes the solution to America’s economic woes is more federal spending and higher taxes.

Having increased federal spending by nearly $5 trillion in its first two years, the Biden administration now proposes additional tax and spending increases totaling $4.7 trillion and $1.9 trillion, respectively.

Those who understand Monetary Sovereignty know that our Monetarily Sovereign government has no need or use for taxes. It has the infinite ability to create dollars at the touch of a computer key. Monetary Sovereignty became a reality in 1971 — the “Nixon Shock” — when President Nixon made the most significant move of his administration: He divorced the U.S. dollar from gold. We no longer needed to match the value of gold (which changed daily) to any fixed number of dollars. We could create dollars at will as we needed them. The debt ceiling was created in 1917 to allay fears about dollar acceptance. It tried to make lenders and users confident that the dollar would not suddenly lose value. Today, the debt ceiling is laughably useless.

Depending on who is doing the research, it is said that the US raised its debt ceiling (in some form or other) at least 90 times in the 20th century.

Anyone with at least half a brain would understand that if any limit is increased 90 times, it has served no useful purpose. The sole purpose is to give the party that is not in power some leverage over the party in power. It’s a foolish idea, which is why Congress loves it.

The debt ceiling was raised 74 times from March 1962 to May 2011,[14] including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush, and five times under Barack Obama. The debt ceiling has never been reduced, even though the public debt itself may have been reduced.

Congress has raised the debt ceiling 14 times from 2001 to 2016. The debt ceiling was raised a total of 7 times during Pres. Bush’s eight-year term, and it was raised 11 times during Pres. Obama’s eight years in office.

Meanwhile, White House assertions that it will actually cut deficits over the next decade by $3 trillion have been roundly criticized by budget hawks. In fact, projections from the nonpartisan Congressional Budget Office show annual deficits growing from $1.4 trillion this year to $2.7 trillion in 2033, while as a result total federal debt will soar from $32.4 trillion at the end of this year to $52 trillion in 2033.

The White House, the entire Democratic Party, and the entire Republican Party (with the possible exception of Marjorie Taylor Greene) understands the debt ceiling is a fraud. But the public doesn’t understand it, so all politicians suck up the “fiscal responsibility” of the debt ceiling. In a way, it’s something like the GOP denying that Donald Trump is a criminal or the Democrats saying that a tax increase on the rich would “pay for” something.

The IMF’s Fiscal Affairs Director Vitor Gaspar recently told Yahoo Finance that it is clear “that from the viewpoint of medium- and long-term prospects, there is a very strong case for fiscal adjustment in the U.S.”

Actually, “there is a very strong case for” Gaspar lying or ignorant of Monetary Sovereignty.

Of greater concern is what would happen if foreign holders of U.S. government debt suddenly get spooked and start to sell their holdings of U.S. securities.

Officially, foreign treasuries and investors own about $7.6 trillion of U.S. government debt. Bad news here, such as a default on U.S. debt this summer, could spark a run on the dollar and cause interest rates to surge, sending a recessionary shock wave through the U.S. and global economies.bad news

If Congress would forget about the phony debt ceiling, it could, if it wished, pay off the federal “debt” tomorrow simply by returning the dollars sitting in T-security accounts. The purpose of those accounts is not to provide the U.S. government with spending dollars. It has infinite amounts of those. T-bills, T-notes, and T-bonds, the purpose of which is to provide a safe, interest-paying place to store unused dollars. This stabilizes the dollar. All this nonsense about debt ceilings is about to do exactly what the debt Henny Pennys fear: Cause a run on the dollar.

Recent deals among the Russians, Chinese, and Saudis to create alternatives to the world’s dollar-based trade are already threatening the dollar’s preeminent position as the No. 1 global currency.

A debt panic might push the dollar to the brink, bringing inflation and perhaps eventually forcing the U.S. to do something it hasn’t had to since before World War II — pay some, if not most, of its bills in someone else’s currency, a huge disadvantage.

No, the Russians, Chinese, and Saudis won’t cause a run on the dollar, but this year the Republican Party might do just that.

Americans’ complacency about our growing fiscal problems has so far not hurt us too badly. That might not always be the case, however.

Complacency won’t hurt us. The nutty debt ceiling eventually might, however. We should get rid of the damn thing before it causes real damage.

I&I/TIPP publishes timely, unique, and informative data each month on topics of public interest. TIPP’s reputation for polling excellence comes from being the most accurate pollster for the past five presidential elections.

Terry Jones is an editor of Issues & Insights. His four decades of journalism experience include serving as national issues editor, economics editor, and editorial page editor for Investor’s Business Daily.

And by the way, when the federal debt doesn’t rise enough, we have recessions.

**When federal debt growth falls, we have recessions (vertical gray bars.) Recessions are cured by increased federal debt growth.**

It’s pretty simple. A growing economy requires a growing supply of money. Federal deficit spending adds money to the economy. Not enough federal money = recessions. Add federal money = recessions cured. Does it get simpler than that? Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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The Sole Purpose of Government Is to Improve and Protect the Lives of the People.

MONETARY SOVEREIGNTY

Inertia and the American oil tanker

An oil tanker can measure up to 1300 feet (400 meters) in length and carry 550000 DWT (dead weight tonnage), making them the behemoths of the seas. Because of their mass, tankers have large inertia. seawise giant oil tanker

A loaded supertanker could take as much as 4 to 8 kilometers and 15 minutes to come to a complete stop and has a turning diameter of about 2 kilometers. The U.S. economy is the ULT (ultra-large tanker) of the world’s economies. It takes time to get up to speed and time to slow down. Keep that in mind as you read excerpts from the following article:

The Biden Economy and How It Could Be Fixed, By Andrew F. Puzder Businessman and Author, The Capitalist Comeback: The Trump Boom and the Left’s Plot to Stop It

The following is adapted from a talk delivered on February 22, 2023, at a Hillsdale College National Leadership Seminar in Indian Wells, California.

Just about everybody on Wall Street knows, despite what you read in the financial press, that the Biden administration’s economic policies are driving our economy into a recessionary ditch.

This is the mark of the conspiracy theorist. He claims “just about everybody on Wall Street knows this,” but the “financial press” doesn’t. One wonders who constitutes the “everybody” and where “everybody on Wall Street” gets its information if not from the financial press. Fox News, perhaps?

In a recent Wall Street Journal survey of 23 large financial institutions that do business directly with the Federal Reserve, 16 predicted a recession in 2023 and two predicted a recession in 2024, while only five predicted that we would avoid a recession.

A recession is predictable because the Fed wrongly follows a recessionary policy to reduce inflation. Unfortunately, a recession is not the opposite of inflation, as the term “stagflation” indicates. Curing inflation should not require causing a recession.

A recession is defined, traditionally, as two consecutive quarters of negative economic growth. At least it was defined that way before the financial press redefined it prior to the 2022 midterms, ensuring that despite two consecutive quarters of negative growth, President Biden’s policies couldn’t be labeled recessionary.

But regardless of the definition, this negative growth meant declining standards of living, fewer job opportunities, lower wages, and increased poverty for the American people.

**“Fewer job opportunities”? Unemployment is near historic lows.**

Puzder complains about “fewer job opportunities” under Biden when the unemployment rate is near a low not seen since the 1950s — and lower than during the Trump administration.

The hard economic times we are experiencing are especially striking as they come on the heels of the Trump boom, which opened our eyes again to American economic potential when we have low taxes, reduced regulation, and a bountiful supply of domestic energy.

Low taxes (but only for the rich), reduced regulation (of the rich and of the banks that caused the last recession and went bust this year), and a bountiful supply of energy (thanks to alternative energy, which Trump hates, along with a compliant OPEC and no Russia/Ukraine war).

**“Hard times”? Annual change in Gross Domestic Product (red) and real (allowing for inflation) GDB (blue). Trump was President during the years 2017 through 2020. Biden became President in 2021.**

Everybody, particularly minority and low-wage earners, reaped the benefits in the Trump years of abundant job opportunities, increasing wages, historic highs in family income, and historic lows in rates of poverty and unemployment.

It’s difficult to say that low-wage earners benefited from Trump’s tax cut for the rich. Comparing the economic times under Biden vs. Trump, one sees that Biden’s time was better regarding lower unemployment and greater real GDP growth.

Turning the clock ahead, since March 2021, two months after Biden took office and began reversing Trump’s economic policies, the Consumer Price Index—the average in prices paid by consumers for goods and services, by which inflation is commonly measured—has surged. And it continues to surge.

Granted, the Federal Reserve has to take some of the blame. It failed to react in a timely manner when inflation started to set in.

(Similar to the way Trump failed to react timely to COVID).

Coming out of the pandemic, we knew two things. First, we knew the federal government handed out $5 trillion during the pandemic, and people had minimal opportunity to spend it since they weren’t traveling, eating out, going shopping, etc. So in 2021, Americans had a lot of cash.

The second thing we knew coming out of the pandemic was that fewer people were working.

The result was a low supply of goods.

**“Fewer people working”? Yes, during Trump’s COVID recession. The number of workers is now greater than ever and is rapidly increasing.**

Excess demand and low supply: this was the situation when Biden took office in 2021. And as any student of elementary economics knows, when demand exceeds supply, you get inflation.

The emphasis had been on low supply when Trump left office, partly due to Trump’s denial of COVID and the resulting millions of workers hospitalized and dying. Had he encouraged masking and vaxxing, the supply situation would have been less difficult.

Isn’t it pretty obvious what should be done in that situation? You should adopt policies that juice supply and avoid adopting policies that juice demand.

Partly right. All inflations are caused by shortages of critical goods and services, most often oil and food. To cure inflations without causing a recession, the federal government must use its infinite financial power to increase the availability, i.e., the supply, of those goods and services. Raising interest rates, which the Fed has done and still is doing, indicates an attempt to use a recession to cure inflation. Puzder, like all right-wingers, hates to help the middle classes and the poor financially. Helping the rich with tax cuts seems to be fine. Were we not to have “policies that juice demand” (i.e., not give people spending money), we would make the same mistake the Fed is making: Attempting to use a recession as a cure for inflation.

Instead, the Biden administration proceeded to do the exact opposite.

Despite the solid-block refusal by the GOP to cooperate in anything that could help Democrats and the economy and the recalcitrance of Democrat Senators Sinema and Manchi, the Biden administrate managed to accomplish a surprising amount.

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

Although the pandemic recession was the shortest recession on record, the economic chaos it created was incredible. And as Milton Friedman said in 1964, the deeper the recession, the greater the recovery.

A little more than a month into the Biden presidency, on a totally partisan basis, the Democrats in Congress passed and Biden signed a $1.9 trillion spending bill they called “The American Rescue Plan.”

Yes, it was “totally partisan” because the Republicans refused to aid financially-challenged Americans.

This so-called rescue plan handed out more cash to American consumers, further increasing demand, and discouraging work, further decreasing supply. That this economic suicide.

The so-called “economic suicide” helped prevent a recession or a depression. As far as “discouraging work,” the number of workers today is greater than ever in our history and is rapidly increasing, as the above graph shows. It is vogue in right-wing circles to claim that the middle classes and the poor have no aspirations, so if you give them money, they won’t work. Perhaps, the right-wingers have no desire to make an effort, so they believe sloth is universal. Still, most people prefer to work for more income than unemployment compensation provides. Today’s shortages, and the resultant inflation, are not due to a lack of workers. Today’s inflation is due to oil shortages, which impact every industry. OPEC and the Russian invasion of Ukraine are primarily responsible. Biden ordered the release of 50 million barrels of oil from the Strategic Petroleum Reserve on November 30, 2022, 60 million barrels on March 1, and 180 million on March 31.

Larry Summers, who served as Secretary of the Treasury under President Clinton and as head of the Council of Economic Advisors under President Obama—a former president of Harvard and a well-respected liberal economist—called this the least responsible economic policy in 40 years.

Quoting Larry Summers on economic policy is like quoting Donald Trump on marriage fidelity. If you would like to learn more about Summers, who is the classic example of the Peter Principle, see here.

With wage growth unable to keep up with inflation, savings melting like an ice cube in the summer sun, and credit card debt rising to historic highs, we’re facing higher interest rates, declining job opportunities, and increasing economic pain for American families.

The above is false. Real (inflation-adjusted) wages went down after the recession (in the two years between the 2nd quarter of 2020 and the 2nd quarter of 2022). Before and after that, real wages have risen, and are rising again at the latest report, and are well higher than in pre-COVID years. Since the year 2000, real wages have exceeded inflation.

**Real (inflation-adjusted) wages are higher than they were before COVID. They fell because of COVID and have begun to rise again.**

Higher interest rates are due to the Fed’s mistaken belief that the current inflation was caused by low interest rates and will be cured by high interest rates. All inflations are caused by shortages (most often shortages of oil or food), and all are cured by eliminating the shortages. Oil shortages (reflected in oil prices) parallel inflation. Today’s inflation is due to COVID shortages of many goods and services, primarily oil. Job opportunities are not declining; they are high and rising. Savings are “melting” because, as Puzder himself said, the government had pumped dollars into people’s pockets, and they could not spend them. Now they are spending them.

So is there anything the Biden administration could do?

To repeat, inflation is the result of demand exceeding supply. The Federal Reserve, with its hikes in interest rates, is trying to drive down demand. But if it has to drive demand all the way down to where supply is right now, it’s going to cause incredible misery for the American people.

This is precisely what the Fed is doing: Trying to use a recession as a cure for inflation.

So from an economic standpoint, if the Biden administration wanted to lessen the misery and hasten recovery, it would do whatever it could to increase supply. And there are two areas where it could have a significant positive impact on the supply side: the cost of energy and the cost of labor.

Energy and labor impact virtually everything in our economy. Thousands of products have a petroleum component, and even those that don’t have to be delivered, which requires oil and gas. And you can’t build, manufacture, deliver, or install anything without labor—labor affects the price of everything.

So if your goal were to fight inflation, you would implement policies to drive down energy and labor costs.

True. Raising interest rates does not drive down energy and labor costs. Sadly, the Fed, Congress, and the President don’t understand that.

Biden has advanced this goal as president by, among other things, killing oil pipeline projects, failing to grant oil leases, failing to approve drilling permits, and limiting the ability of energy companies to obtain financing.

He has done everything in his power to reduce America’s domestic energy production, cripple our energy sector, and increase our dependence on expensive foreign oil.

Except none of those things has affected today’s supply of oil. The effect may be felt several years later, but today’s inflation has nothing to do with oil pipeline projects, leases, drilling permits, or financing. Releasing those millions of barrels from storage helped. Still, OPEC and Russia have cut way back on supplies, and there is nothing that Biden can do about that — other than to encourage other alternatives. Against the usual pushback by the GOP, the Dems have encouraged, with direct financial support and tax breaks, alternative energy sources — wind, solar, moving water, geothermal, and nuclear. Ultimately, this will do more than oil pipelines to alleviate oil energy shortages while saving us from global warming.

The cost of labor has also continued to surge. The increase in wages that Biden crows about is normally a good thing. But it makes no economic sense to ignore the impact of inflation on the value of wages.

It is simply a fact that workers are better off if inflation is up two percent and their wages are up three percent than if inflation is up six percent and their wages are up five percent. They are making more money in the second case, but the money is worth less.

All true, except for one small fact. Not only are wages up, but real wages are up.

Why are labor costs surging? Very simply—we have all seen the “help wanted” signs outside businesses all over America—it’s because employers can’t find workers.

Two years after the pandemic ended, there are still 2.8 million workers missing from the labor force. Why? A recent study headed by University of Chicago economist Casey Mulligan, “Paying Americans Not to Work,” found that in 24 states, unemployment benefits and Obamacare subsidies for a family of four with no one working are equal to or above national median household income.

Cute. He compares national medium income vs. total unemployment benefits and Obamacare, and with a family of four, and with no one working in 24 states. It takes real mathematical twisting to make such a meaningless comparison.

Clients: ESG is a Millstone Around My Neck – 4 Ways You Can Help - The BTI Consulting Group — **FICA is a millstone around the neck of the American economy.**

In other words, two years after the pandemic, we’re still paying people not to work at a time when businesses and our economy desperately need workers.

To the right-wing mind, helping people who don’t have jobs is “paying Americans not to work,” as though people are satisfied with the starvation wage of unemployment compensation. In any event, the notion that people are not working is outdated. As the above graph shows, more people are working, and unemployment is lower than in several decades. The right-wing cure for inflation is to give tax breaks to the rich while cutting back on benefits to the middle and the poor. An immediate way to encourage higher net salaries without punishing employers or the so-called “paying American’s not to work” is to eliminate the FICA tax. Contrary to popular belief, FICA does not fund Medicare or Social Security. It doesn’t fund anything. Those FICA dollars from your paycheck (your employer figures his cost of FICA when deciding what to pay you) are paid from checking accounts. The dollars in checking accounts are part of the M2 money supply measure. When your dollars reach the U.S. Treasury, they suddenly no longer exist in any money supply measure. They effectively are destroyed. The federal government creates new dollars to pay for Medicare and Social Security. Eliminating FICA would provide higher net salaries to all salaried workers, making jobs more remunerative, especially for lower-salaried workers.

The bottom line is this: to address inflation and avoid a deep recession, Biden should, first, tell American bankers, asset managers, bureaucrats, and environmentalists to get out of the way of the energy industry because America needs oil now.

Translation: “Don’t worry about global warming. We’ll leave that problem to our children and grandchildren.”

Second, he should work with Congress to reduce or eliminate the work-discouraging programs that are keeping able-bodied Americans out of the workforce.

We should not cut programs for those who need assistance, but we should reduce benefits for those who are able to work but are choosing not to work. With abundant energy and a vibrant workforce, we could make significant headway against inflation and quickly improve the lives of the American people.

Translation: “Cut unemployment compensation. Make families so desperate they will accept any crap job offered. But by all means, don’t cut the tax dodges available to the rich.”

This isn’t rocket science. But let’s be realistic. The problem isn’t that the policymakers in the Biden administration don’t understand the basic principles of economics.

The goal animating current policy is the transformation of America’s economy and our way of life in accordance with a Leftist political agenda, using so-called emergencies like climate change as a rationale.

Translation: “So-called climate change isn’t real. It’s a Chinese hoax, as Donald Trump says. Pay no attention to the scientists who tell you climate change will destroy life as we know it. Listen to experts like Trump and Puzder.”

Americans need to open their eyes to the fact that our elected leaders across the political spectrum understand clearly what policies will lead to prosperity and freedom for the American people but that only some of those leaders consider prosperity and freedom the goal. We need more of them.

Agreed. Sadly, none of those leaders seem to be Republicans. While the Republicans have focused on defending Trump and his false claims of a stolen election, the Dems have tried to overcome GOP objections to any economy-building program. The GOP feeling is that the worse they can make the economy, the easier it is to blame it on Biden and the Dems. Despite headwinds from the GOP and even a couple of Dems, the party has managed to accelerate the oil tanker that is the American economy. Now, if only they could get rid of that useless, cursed FICA and educate themselves about the realities of Monetarily Sovereign finance, what a wonderful world this could be. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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The Sole Purpose of Government Is to Improve and Protect the Lives of the People.

MONETARY SOVEREIGNTY

How the GOP is killing (Yes, literally) America

This is not hyperbole. The Republican party literally is killing Americans.

Column: America’s decline in life expectancy speaks volumes about our problems
U.S. average life expectancies are lowest in the Southeast, highest on the West Coast and the Northeast. But why?(Jeremy Ney / American Inequality), BY MICHAEL HILTZIK, BUSINESS COLUMNIST, APRIL 5, 2023 5 AM PT

Years of widening economic inequality, compounded by the pandemic and political storm and stress, have given Americans the impression that the country is on the wrong track. Now there’s empirical data to show just how far the country has run off the rails: Life expectancies have been falling.

The Centers for Disease Control and Prevention reported last year that life expectancy at birth fell in 2021 to its lowest level since 1996, a decline of nearly a year on average from 2020. That was after a decline by 1.8 years from 2019 to 2020, producing the worst two-year decline since 1921-23.

These figures open a window on a set of pathologies unique to America among developed countries.

America is seeing the greatest gap in life expectancy across regions in the last 40 years.

COVID-19 is the most obvious and convenient culprit, both for the absolute decline in life expectancy and the divergence between the experiences of the U.S. and its economic peers.

Most developed countries have begun to recover the longevity losses they experienced during the pandemic; thus far, there’s scant evidence that the U.S. is following the trend.

The U.S. suffered a greater rise in mortality and premature deaths than its peer countries during the pandemic years of 2019-21, according to the Peterson-Kaiser Family Foundation Health System Tracker.

Remember how initially President Donald Trump denied the severity of COVID, and said it would “just go away.” He lied. It didn’t.

His public attitude led to Republicans refusing masks, refusing vaccination, chasing fake cures like hydroxychloroquine, and foolishly gathering in crowds that spread the infection.

Loyalty to Trump over America demanded a cavalier attitude about contagion and healthcare.

“COVID-19 has erased two decades of life expectancy growth in the U.S., whereas the average life expectancy for comparable countries has decreased only marginally, to 2018 levels,” the Health System Tracker found.

That may not be surprising. Few developed countries other than the U.S. turned COVID and anti-pandemic options into political issues, converting such proven treatments as vaccines into partisan litmus tests.

Hundreds of thousands (!) of Americans died needlessly because of Trump’s lies and the Republican party’s obsequence.

Even now, in 2023, more than 90,000 Americans per year die from COVID. The vast majority of deaths could have been prevented by vaccination.

A CDC chart showing COVID deaths in the US by vaccination status over a photo of a syringe drawing from a vial. — **Unvaccinated people were 6.1 times more likely than fully vaccinated people to test positive for COVID-19 and 11.3 times more likely to die from it.**

The GOP ignored warnings from legitimate sources like Dr. Anthony Fauci, who ironically, now is being vilified for not claiming the COVID virus came from a Chinese lab.

Blaming the Chinese for all our ills is a familiar Trumpian coverup tactic.

Rather than blaming Trump for his role in causing the lethal spread of COVID, the GOP blames Fauci, who repeatedly warned about the dangers of the disease. Such is the GOP mentality.

But COVID is far from the only explanation for America’s dismal trend line.

The pandemic accounted for about half the decline in life expectancy, according to the CDC. “Unintentional injuries,” a category that includes drug overdoses, contributed an additional 16%, followed by heart disease (4.1%), chronic liver disease and cirrhosis (3%) and suicide (2.1%).

Those factors are connected to economic policies and systems, development agendas, social norms, social policies, racism, climate change and political systems.

All of the above are denied and/or exacerbated by the Republican party.

The GOP is the party that wishes to cut Medicare, Medicaid, and Social Security benefits, increase FICA taxes on salaried workers, eliminate the Affordable Care Act (Obamacare), reduce the Child Tax Credit, cut the SNAP (food stamp) program, and reduce unemployment compensation.

As an overall goal, the GOP does everything possible to make the poor poorer and the rich richer.

The GOP values dollars over human life, so any Democratic effort to reduce air or water pollution, increase benefits to the poor, or to reduce gun violence, is met by GOP resistance.

Americans with the shortest life expectancies “tend to have the most poverty, face the most food insecurity, and have less or no access to healthcare,” Robert H. Shmerling of Harvard Medical School wrote in October.

“Additionally, groups with lower life expectancy tend to have higher-risk jobs that can’t be performed virtually, live in more crowded settings, and have less access to vaccination, which increases the risk of becoming sick with or dying of COVID-19.”

The most important governing factor is economics,observes Jeremy Ney, an expert in graphically displaying social and economic disparities.

“There’s a really strong relationship between life expectancy and income,” Ney told me. “Income is tied in with a lot of other things, like your ability to afford healthcare, your housing security, your distance from a toxic chemical site, things like that.”

“America is seeing the greatest gap in life expectancy across regions in the last 40 years,” Ney says.

America’s life expectancy is falling behind its international peers, including all high-income countries and Japan. China’s life expectancy outstripped the U.S. in 2020.

That tells only part of the story. The lowest average life expectancies are seen in the states of the Southeast (the so-called “red states): South Carolina, Oklahoma, Arkansas, Tennessee, Kentucky, Alabama, Louisiana, West Virginia and Mississippi all had average life expectancies from birth of less than 75 years.

The highest life expectancies were generally in states on the West Coast, the northern Midwest and the Northeast. Hawaii ranks first at 80.7, followed by Washington, Minnesota, California, New Hampshire and Massachusetts, all with average life expectancies of 79 or higher.

These geographical disparities aren’t artifacts of pure geography or demographics; they’re the consequences of policy decisions at the state level.

**On average, the citizens of solid Republican states have the shortest lives. This is not a coincidence.**

Of the 20 states with the worst life expectancies, eight are among the 12 that have not implemented Medicaid expansion under the Affordable Care Act.

The consequences of this obstinate Republican-driven resistance to a program whose expense is more than 90% covered by the federal government include closures of rural hospitals and high rates of uninsured residents.

In 1995, U.S. life expectancy was about six months less than those of high-income countries; by 2020 it was about three years, according to the World Bank.

In 1995, the U.S. had a commanding lead over China, which was about 5 1/2 years behind the U.S.; China then roared ahead, outstripping the U.S. in 2020, when its average life expectancy clocked in at 78.08 years, compared with America’s 77.28.

Read this article: The Child Tax Credit is our greatest antipoverty program. Why is Congress letting it wither?

— The enhanced credit, enacted in March 2021 as part of the American Rescue Plan, the government’s pandemic relief package, reduced the child poverty rate by about 30%, keeping as many as 3.7 million children out of poverty by the end of that year.

— When the enhancements expired in January, the child poverty rate spiked to 17% from 12.1%, plunging 3.7 million children back under the poverty line.

When one examines the factors exerting the greatest influence on longevity, the issue comes sharply into focus.

“Inequality in America is about so much more than income,” Ney says. “It’s healthcare and housing and education and taxes and race and gender and location.

Life-expectancy inequality in America is tied up in all these very different factors. “

At this moment, the quest for solutions appears to be moving in reverse. Consider the Supreme Court’s 2022 decision in Dobbs vs. Jackson Women’s Health Organization, which overturned nearly half a century of federal safeguards of abortion rights and has opened the door to punitive attacks on women’s reproductive health care in dozens of states.

Even before Dobbs, health outcomes in Mississippi, the state whose antiabortion statute led to the decision, were “abysmal for both women and children,” the dissent by Justices Stephen Breyer, Sonia Sotomayor and Elena Kagan observed.

“Mississippi has the highest infant mortality rate in the country, and some of the highest rates for preterm birth, low birthweight, cesarean section, and maternal death,” they wrote. “It is approximately 75 times more dangerous for a woman in the state to carry a pregnancy to term than to have an abortion.”

Not only do red states refuse to participate in ACA (which gives each state a financial profit), but they actively try to prevent their citizens from avoiding illness.

State seeks to ban mask, COVID testing rules by businesses A House committee Monday approved a bill that would prohibit businesses from requiring people to wear masks or take COVID-19 tests to enter their facilities. By Ryan Dailey News Service of Florida

TALLAHASSEE — A House committee on Monday approved a bill that would prohibit businesses and government agencies from requiring people to take COVID-19 tests or wear masks to enter their facilities, with the measure’s sponsor calling such mandates “discriminatory practices.”

The proposal would build on prohibitions passed by the Florida Legislature earlier in the pandemic regarding health measures such as vaccination requirements, which are top priorities of Gov. Ron DeSantis.

The Republican-dominated committee approved the bill (HB 1013) in a 12-5 vote Monday, with Democrats decrying its potential impact on private companies.

“The keyword is private. Private businesses have the right to make their own decisions,” Rep. Marie Woodson, D-Hollywood, said before voting against the proposal.

The measure also would impose similar prohibitions on educational institutions, including provisions that would bar institutions from requiring COVID-19 tests or imposing mask requirements.

Under the bill, educational institutions also could face $5,000 fines for violations.

Then we move from the cruel and misguided to the absolute crazy:

The measure also would would require healthcare practitioners to “obtain the informed consent” of a patient or their legal representative before prescribing any medications to treat coronavirus.

Under the bill, informed consent would include an “explanation of alternative medications” for treating COVID-19 and the “relative advantages, disadvantages, and risks” associated with those drugs.

A House staff analysis of the measure included Hydroxychloroquine, Ivermectin, Methanol and herbal medicines as examples of such “alternative” medications.

Use of drugs such as Hydroxychloroquine and Ivermectin sparked nationwide debates during the pandemic, with DeSantis in 2020 backing the state’s bulk purchase of Hydroxychloroquine, despite research that showed it didn’t work on the coronavirus.

Under the 2021 laws, Florida private-sector workers can avoid vaccination requirements if they provide medical reasons, religious reasons or can demonstrate “COVID-19 immunity.”

In short, the Republican party discourages vaccination but encourages Hydroxychloroquine.

Lawmakers in 2021 also barred government agencies from requiring workers to be vaccinated and reinforced a law known as the “Parents’ Bill of Rights” that banned student mask and vaccination requirements in public schools.

Mandatory vaccination in schools has helped prevent the transmission of childhood diseases, many of which are potentially fatal. Easy-to-read child schedule

Easy-to-read teen schedule

Somehow, refusing vaccination has become a test of one’s loyalty to Donald Trump (who has had all his vaccinations) and to the Republican Party.

To avoid being branded a RINO (Republican In Name Only), one is expected to refuse vaccination on the basis of “freedom,” fake articles about the dangers of vaccination, or manliness.

The GOP has become the “We want you to die young” party. Its followers are paying the price.

In summary, richer people live longer than poorer people, and the GOP is devoted to widening the Gap between the rich and the rest.

In addition to denying the results of elections they lose, the GOP denies science, healthcare, poverty, and via gerrymandering, denies the will of the people. It even attempted a coup, a denial of the people’s voting rights.

In a clear case of “you get what you vote for,” the GOP counts millions of poor people among its voters. And yet, they are the ones who suffer from their vote.

At its core the appeal of the GOP is hatred for, and fear of, the poor, blacks, browns, yellows, reds, gays, Jews, Muslims, foreigners, and the educated.

Rodger Malcolm Mitchell
Monetary Sovereignty

Twitter: @rodgermitchell Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

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The Sole Purpose of Government Is to Improve and Protect the Lives of the People.

MONETARY SOVEREIGNTY

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