Tag: all money is debt

–Playing politics with your life, your health and your finances

The debt hawks are to economics as the creationists are to biology. Those, who do not understand monetary sovereignty, do not understand economics. Cutting the federal deficit is the most ignorant and damaging step the federal government could take. It ranks ahead of the Hawley-Smoot Tariff.
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Rep. Fred Upton(Republican) said, “If we pass this bill with a sizable vote, and I think that we will, it will put enormous pressure on the Senate to do perhaps the same thing.” “This bill” is the attempt to repeal the health care bill. He went on to say, “But then, after that, we’re going to go after this bill piece by piece.”

So, he expects to fail in his attempt to repeal the entire bill, but then he will try to gut it. If he is successful in either attempt, here is what will happen to you:

–Your children may be denied health insurance because they have a pre-existing condition.
–Your insurance company might put a ceiling on the claims you can submit, during your lifetime.
–You can be charged extra for an emergency room visit to a hospital not in your insurance company’s network.
–You will lose coverage of your children through age 26.
–Your coverage can be cancelled if you get sick.
–When you are a senior, you will not receive free screening for cancer, the biggest killer of Amercians.
–Millions of Americans will lose insurance coverage.

And other bad stuff too numerous to mention.

So why do the Republicans want to do this to the American public? Four reasons:

1. Through time, this bill will gain in popularity, and become known as a signature Democratic initiative, on a par with Social Security, Medicare and the civil rights bills. Since most recent Republican initiatives have been to go to war with Iraq based on a lie, deport undocumented aliens and the Bush tax cuts, the Republicans are desperate either to come up with something great or to destroy whatever the Democrats do. They need an issue, and this is all they can think of (Heaven forbid they come up with something beneficial to the lives, health and finances of the general public.)

2. The stated belief the “individual mandate” is onerous or illegal, in that you can’t penalize people for not buying something. Really? Try driving in my state, Illinois, without buying significant amounts of liability insurance. Try buying anything without paying the retailer sales tax. (And unless you think this is just a tax, it isn’t. The retailer actually makes a profit on it, because he pays against total sales, while he receives a rounded up amount from each sale.) True, the self-styled “originalists” on the Supreme Court may rule against it, because it does not meet their right wing agenda, but this will just open the door to a single payer option, which the right wing will hate even more.

3. Pandering to the Tea Party. Unfortunately for the Republicans, the bloom is going off the Tea Party rose, and soon Sarah Palin and the rest of the gang will be remembered laughingly in the same terms as the infamous “Know Nothing” party, which the Tea Party closely resembles. See: Know Nothing party

4. The bill is “too costly” or “unsustainable” or will force tax increases on taxpayers. Those who have read the posts on this blog have learned that taxpayers do not pay for spending by a Monetarily Sovereign government, taxes will not need to be increased, there is nothing that is unsustainable for the federal government, and all the talk about affordability is utter nonsense. If you have not read the posts, you can begin with: Introduction and work your way forward.

Although I have spend most of my life voting Republican (because I didn’t like the “tax” part of the Democrats’ tax ‘n’ spend policies), I find myself drifting leftward, partly because of the mean-spirited, hate filled, ultra-political beast the Republican party has become. So it will be entertaining to watch the Republicans try to destroy one of the great human initiatives in American history. Yes, the health care bill is not perfect. I’ll repeat that: The health care bill is not perfect. But it’s an excellent start toward doing what any great nation must do – protect its citizens – whether against foreign invaders, poverty, illiteracy or sickness. It’s the reason we have a government.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity. Those who say the stimulus “didn’t work” remind me of the guy whose house is on fire. A neighbor runs with a garden hose and starts spraying, but the fire continues. The neighbor wants to call the fire department, which would bring the big hoses, but the guy says, “Don’t call. As you can see, water doesn’t put out fires.”

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–More “Constitutional” phony baloney from the Tea Party

The debt hawks are to economics as the creationists are to biology. Those, who do not understand monetary sovereignty, do not understand economics. Cutting the federal deficit is the most ignorant and damaging step the federal government could take. It ranks ahead of the Hawley-Smoot Tariff.
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Each day I become more convinced that being a member of the Tea Party is a litmus test for childishness. Back in April, I wrote the post “What does the Tea Party want?” in which I explored some of the truly inane pronouncements by this group. It is an amazing attribute of the human species that anything sober and logical (Monetary Sovereignty) will be rejected by a large group, but anything outrageously juvenile (Lady Gaga) will be revered by an even larger group.

In the earlier post, I commented not only on the Tea Party’s adoration of such sages as Sarah Palin and Christine O’Donnell, but it’s hopelessly confounding message:

Unfortunately for Tea Party “logic,” they not only want lower taxes, but lower deficits and less government. At the same time, they want a stronger army, better schools, federal supervision of banks and other financial firms, better roads, defense of our borders, less crime, more guns, defense against terrorism, safer food, better retirement, better unemployment insurance, police, health care, rescue from hurricanes and other disasters, more jobs and a better environment.

I reminded readers that what the Tea Party wants costs money, the money they don’t want the government to spend. But now that bit of TP logic has been superceded by the next puerile demand, to which the eagerly submissive GOP has agreed. Not only must the House of Representatives waste an hour or a day listening to someone read the U.S. Constitution aloud (“Now follow along, children. See Spot jump.”), but every new bill must contain a statement by the lawmaker who wrote it citing his constitutional authority to enact the legislation.

Puleeze. The most contentious bill passed by Congress – hated by the TP – already contains such a statement, and that hasn’t prevented two judges from ruling one way and a third judge from ruling the other. What is called the “Individual Mandate” of the Patient Protection and Affordable Care Act already includes these sentences:

The individual responsibility requirement provided for in this section (in this subsection referred to as the requirement) is commercial and economic in nature, and substantially affects interstate commerce . . . In United States v. South-Eastern Underwriters Association (322 U.S. 533 (1944)), the Supreme Court of the United States ruled that insurance is interstate commerce subject to Federal regulation.

Well, I guess that should satisfy the TP.

The problem is that the Constitution was written 200+ years ago to address problems of the time, and must be interpreted to address today’s problems. And while “originalist” Justices Antonin Scalia and Clarence Thomas claim to have special insight into the original intent of the Constitution framers, they don’t, they don’t even try, and anyway, why should anyone want that?

The Supreme Court has nine members rather than just one, because the Constitution, like the Bible, is either vague, outdated or repeatedly misconstrued concerning almost all we wish to know. Every Justice has pledged to obey the Constitution, yet seldom do we see a 9 – 0 decision. Does this mean some Justices intentionally disobey the Constitution every business day?

Reality check: The true issue is not whether a law obeys or disobeys the Constitution, but rather, whether the sponsors are Democrats or Republicans (aka TP sycophants). But that bit of truth does not perturb the TP members, who live in a magical world of dreams, where all wishes come true, even (especially?) those that are self-conflicting.

It seems our Representatives prefer time-wasting, populist, pandering nonsense, to actually learning about, and coming to grips with, real problems, which is why the recovery has been so slow, and why millions of Americans have no jobs, no homes, no health insurance and no retirement.

What next from the Guns ‘n’ God Group? A rule that the House must stand and recite the Pledge of Allegiance every day?

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity. Those who say the stimulus “didn’t work” remind me of the guy whose house is on fire. A neighbor runs with a garden hose and starts spraying, but the fire continues. The neighbor wants to call the fire department, which would bring the big hoses, but the guy says, “Don’t call. As you can see, water doesn’t put out fires.”

–Are you for immigration reform? What does that mean?

The debt hawks are to economics as the creationists are to biology. Those, who do not understand monetary sovereignty, do not understand economics. Cutting the federal deficit is the most ignorant and damaging step the federal government could take. It ranks ahead of the Hawley-Smoot Tariff.
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Congress has been debating immigration reform, and like all political “reforms,” the word means different things to different people. Health insurance “reform” means federally provided, affordable insurance to everyone, or to no one, or somewhere in between. Budget “reform” means cut spending, increase taxes, both or neither. Tax reform means make taxes simpler or fairer or lower or higher.

But what does immigration reform mean? Does it mean fewer or more immigrants? Does it mean an easier or more difficult procedure? And more importantly, what is the goal? Is it to:
–Protect our nation from terrorists and other enemies?
–Protect American workers from competition?
–Protect America from crime?
–Save our limited resources?
–Keep American white? Or Christian? Or English speaking?
–To relieve an overcrowded America?
–Just keep Mexicans out?

For example, consider Rep. Steve King, an Iowa Republican who wants to end automatic or “birthright” citizenship for all children born in the United States. What is the benefit to America? He says it’s to prevent non-citizens from coming here on a visa, and intentionally having a child, thereby circumventing immigration laws. Aside from the probability the number of such people is small, what is the problem? What if some women do that? Who has been harmed? How has that diminished America?

Or consider those Republican lawmakers from southern states and lawmakers who wish to copy Arizona’s harsh law. They would give police the massive job of screening all suspects for immigration status. Why? They claim the undocumented immigrants are too costly, using medical and educational facilities without paying taxes. But how true is this really? What percentage of undocumented immigrants do not pay taxes? And what would be the police costs and the court costs and attorney costs and the logistic costs of pursuing all these people, trying them and deporting them, only to have them return again and again? And what would be the cost in human suffering, or do we now consider undocumented immigrants to be something less than human?

These lawmakers claim their goal also is to protect their states from crime, but do undocumented immigrants cause more or less crime than citizens?

Rather than allowing the xenophobes, who wish to create a “fortress America,” to coopt the word “reform,” perhaps those, who still belief the words on the Statue of Liberty, might wish to define reform in our own terms. How about if “immigration reform” means make immigration much faster and easier? How about recognizing that going through danger, cost and effort is prima facie evidence of people who truly want to be Americans, and such desire might make them more loyal and more devoted to our nation than those lucky enough to be born here?

Surely, we can protect America without building a North Koreanesque barrier. Is Mexico our enemy? Are the great open plains so crowded? Is the American worker too weak to compete? Are resources truly limited to a Monetarily Sovereign nation that at the snap of an finger, can spend trillions on the world’s greatest war machine? And don’t immigrants actually contribute to our resources? My immigrant parents did.

Yes, let’s have immigration reform. Let’s open the welcoming arms of a great, confident, powerful America, rather than hiding behind the barbed wire curtain of a crouching, fearful, mean spirited bunch of petty losers.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity. Those who say the stimulus “didn’t work” remind me of the guy whose house is on fire. A neighbor runs with a garden hose and starts spraying, but the fire continues. The neighbor wants to call the fire department, which would bring the big hoses, but the guy says, “Don’t call. As you can see, water doesn’t put out fires.”

–When will the economy recover?

The debt hawks are to economics as the creationists are to biology. Those, who do not understand monetary sovereignty, do not understand economics. Cutting the federal deficit is the most ignorant and damaging step the federal government could take. It ranks ahead of the Hawley-Smoot Tariff.
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At long last, when will the economy recover? Wait a minute. Look at this graph:

graph 1

Considering that the data only goes through September, 2010, one easily can infer that the economy already has recovered. Yes, the stock market has not recovered, but that could be good news. It could mean it still has plenty of recovery left in it.

And yes, unemployment still is a big problem:

But that could be a good thing, too (although not for those who are unemployed.) A high level of unemployment mitigates against inflation. The government could continue to use its infinite spending ability and not be concerned it was causing inflation. For instance, FICA could be eliminated, as it should be, rather than the tentative, temporary step now taken. And the standard deduction could be raised, also as it should be. And Social Security benefits could be increased, and Medicare could be expanded, again as they should be.

And interest rates have stayed way down:

graph 3

And that’s another good thing, because it means the Fed has plenty of room (not that “room” really is needed) to raise rates if inflation should rear its ugly head.

There are plenty of leading indicators one might explore, but these graphs give me cause for optimism, if only the federal government will seize the moment.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity. Those who say the stimulus “didn’t work” remind me of the guy whose house is on fire. A neighbor runs with a garden hose and starts spraying, but the fire continues. The neighbor wants to call the fire department, which would bring the big hoses, but the guy says, “Don’t call. As you can see, water doesn’t put out fires.”