jimahrens Loc: California

I spent some time to send a letter to Dianne Feinstein U.S. Senator from Calif. i have to laugh same ole story We are running out of Money. WHAT'S NEW?

Dear Mr. Ahrens :



Thank you for writing to express your concerns about the fiscal health of the Federal Highway Trust Fund. I appreciate the time you took to write, and I welcome the opportunity to respond.



As you know, the Federal Highway Trust Fund is currently funded by an 18.4-cent per gallon tax on gasoline and a 24.4-cent per gallon tax on diesel fuel. When the federal government collects these funds, they are deposited into two accounts: one for highways and one for mass t***sit. According to the Congressional Budget Office, this year the highway account will have outlays of $44 billion with only $33 billion flowing into the fund.



The Highway Trust Fund is projected to run out of funds this summer. The President's Fiscal Year (FY) 2015 budget, released on March 4, 2014, proposes a $302 billion, four year reauthorization of federal surface t***sportation programs. This includes $63 billion to cover the funding gap in the Highway Trust Fund which would prevent the Fund from becoming insolvent. On May 12, 2014, Senator Barbara Boxer (D-CA) introduced the "MAP-21 Reauthorization Act" (S. 2322), which would fund and improve the nation's federal surface t***sportation programs for six years at current funding levels plus inflation. The bill calls for the Secretary of T***sportation to carry out a research program to explore alternative revenue mechanisms to preserve the long-term solvency of the Highway Trust Fund. Specific policy options on how to shore up the Fund will be provided later by the Senate Finance Committee. S. 2322 has been approved by the Senate Committee on the Environment and Public Works, and is now awaiting consideration by the full Senate.



The nation's t***sportation infrastructure is of great importance and requires continued investment to ensure safety and to grow the economy. I look forward to working with my colleagues in the Senate to ensure that the country's greatest infrastructure needs are met. I appreciate knowing of your support for providing a steady source of funding for highways and t***sit. Please know that I will keep your views in mind should S. 2322 or related legislation come before the full Senate for consideration.



Again, thank you for your letter. If you have further questions or comments, please contact my office in Washington, D.C. at (202) 224-3841, or visit my website at http://feinstein.senate.gov . Best regards.


Sincerely yours,


Dianne Feinstein
United States Senator

Sicilianthing

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That's exactly what I'm talking about !
You nailed it, I've seen that same exact letter !

These Fuc*ing B***hes BoxNStein need to go !
Put them on notice !
California is one of the biggest problems causing
BORDER issues !
TAXATION !
CrazyTrain To No Where
Illegal Appropriations of funds ! etc..

I can go on and on and on !

Put them All on Notice !
They are ignoring the BORDER issue !
They will not return Calls for it.
They will not take journalists in for Border issues
They are in
SERIOUS HOT water over that Tijuana, Otay Mesa, Tecate and Calexico Border Disasters Daily !

They Need to be Held Accountable and
Jerry Stupid Fuc* Clown Ass too...

Jerry's Stupid Crazy Train to NoWhereLand !
Jerry's Stupid Crazy Train to Jerry'sClownWorld !

This has to stop !
Period !
Game Over !

Send that to the Jon and Ken Show at KFI 640AM let them have at it...
they can't stand what's happening either !

Fuc* all these Clowns !
Hold em' to
High Treason !

Gangs are out of control in the Hispanic neighborhoods
Gang wars have started again
Gang Drug Wars are flaring up everywhere....
California, AZ, New Mexico, Texas...

Put them on Notice !

MarvinSussman

BS! The federal government cannot possibly run out of money.

In our past, Congress’ failure to regulate the banks caused harmful inflation. For stability, the government fixed the dollar’s value at a certain price of gold and promised to redeem dollars at that price with gold from its store. The gold standard worked fairly well except for one serious problem.


Due to frequent budget deficits, the public’s money supply grew faster than the government’s gold supply. To prevent depletion of the gold supply as wealthy savers redeemed gold with their excess paper currency, the Treasury auctioned enough interest-bearing treasuries to recapture the annual budget deficit from the savers. The debt interest expense became part of the annual federal budget.

But there was another problem. Due to frequent annual trade deficits, foreign exporters with excess US dollars redeemed enough gold to threaten the US gold supply. Eventually, Nixon had to end the gold standard. Since 1973, Congress spends fiat currency but has misunderstood the limit to its spending.

With no need to protect a gold supply, there is no need to recapture the deficit with US Treasury auctions. The Treasury could simply auction enough treasuries to serve our economy’s need for risk-free interest-bearing instruments. As the only source of private sector savings, federal spending should never be limited by Treasury revenue. Such minimal auctioning would end the “unsustainable debt” s**m crafted by Wall Street to privatize Social Security and gain a fortune in broker commissions.

That which we call a “federal budget deficit” is nothing more than the annual savings retained by the private sector when Congress spends more than it taxes. Until we are threatened by harmful inflation, Congress’ spending is needed for infrastructure. And private savings are essential for prosperity. Absent such inflation, deficits are beneficial.

To explain fiat currency, a counter-factual Pilgrim history, one that could have happened and would have produced a society richer than the real one, is described here:
---------------------------------------------------------------------------------------------------------------------------------------On landing at Plymouth Rock, the governor printed fiat money to pay for the goods and services to be supplied by colonists during the year. The colonists valued the money and worked hard for it because, to avoid serious punishment, they would have to pay taxes at the end of the year.

For each year’s budget, the governor estimated the man-hours available during the year and multiplied that number by an hourly wage to arrive at the annual budget. During the year, he hired everyone available to build wells, roads, buildings, and other infrastructure. If he underestimated the available man-hours during the year, he simply printed more money.

To avoid inflation and eventual hyper-inflation, the governor estimated, imposed, and collected a household tax that repossessed most of his spending at the end of the year. The governor’s spending not repossessed by taxes became the colonists’ savings. Budget deficits = private sector saving which are essential for an economy. Without annual deficits, the colony would have become a bartering economy without a medium of exchange!
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This counter-factual history explains why fiat money allows Congress to fully employ our resources. Like the fictional colony, Congress NEVER EVER asks the Treasury if it has enough money. Congress spends as it wishes and taxes most of it back to avoid inflation. But, by not understanding its spending limits, Congress creates unemployment instead of infrastructure.

Almost all US v**ers wrongly believe that federal taxes pay for federal spending. This myth vanishes in every war and serious crisis, corrupts political dialogue, and promotes austere budgets. V**ers hold this false belief only because they do not understand that, as an issuer of fiat currency, Congress is not bound by the “balance the budget” logic of a household or a business. Regardless of tax revenue, Congress can always hire resources left idle by private industry. The two fiscal mandates for Congress are exactly the two monetary mandates that Congress demands from the Fed: Avoid unemployment’’ and ‘’Avoid harmful inflation!”

Ideally, to maximize the nation’s wealth by avoiding wasted opportunity, Congress must balance two financial goals: (1) spend almost enough to cause harmful inflation; (2) tax only enough to avoid harmful inflation. Congress’ fiscal target is the onset of harmful inflation. (The Fed cannot reach its 2% target.)

Until we are threatened by harmful inflation, Congress is obliged by our Constitution’s preamble “to …promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity…” When private industry does not fully employ the nation’s resources, it is the duty of Congress to use the nation’s idle resources to build infrastructure.

An intelligent, rational, informed citizen would v**e to remove the deficit hawks from Congress and replace them with representatives who understand that harmful inflation is the ONLY reason not to build infrastructure and increase private sector savings. Will you? ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The above essay is based on works by: (books cost about $10)
Frank N. Newman, former Deputy Secretary of the US Treasury, author of: “Freedom from National Debt” (Two Harbors Press);
Francis X. Cavanaugh, US Treasury economist for over 30 years, author of: “The T***h about the National Debt: Five Myths and One Reality” (Harvard Business School Press);
Warren Mosler, economist, author of: “Seven Deadly Frauds of Economic Policy’’ (Oxford U. Press)
Dr. Stephanie Kelton, Chair of the UMKC Economics Department, at NewEconomicPerspectives.org.
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©2014 Marvin Sussman All Rights Reserved. Permission granted only to copy entirely.
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Sicilianthing

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Layer upon layer upon layer
everyday same s**t
over and over and over again !

When will the people wake up ?

Ask them where all the money is for Social Security?
What account is it in?
When will there be an audit for that ?
The money doesn't just disappear people !

Where is the MONEY ?
Who has it ?

WTF ?

jimahrens Loc: California

There is a solution to the problem It is not easy solution but will work Simply put, States take back there power. It a better chance that as citizens we can control spending better at State and local levels.

Sicilianthing

I agree but how do you get that done ?
Ha ! ?

jimahrens Loc: California

That is what I said . That is why is very important to push States to sign into the Convention of States. People need to bombard there local reps. to force the issue .

Sicilianthing

Send me the link to it please... again.

jimahrens Loc: California

Here is the link http://conventionofstates.com/

jimahrens Loc: California

Social Security is an empty box. Money was used else where If I am correct Social Security now comes from some general fund. Please correct me if I am wrong

MarvinSussman

The money, in the form of special, non-negotiable US bonds, is in the Social Security Trust Fund, earning a fairly high interest rate. The rate can be increased without limit by Congress. The money can be increased by removing the payroll cap so that the rich pay their fair share. Or Congress can simply write a check.

It's up to the v**ers.

MarvinSussman

The state legislatures cannot write a Treasury check. Only Congress can write a Treasury check. Wake up!

Dave Loc: Upstate New York

One of the things really needed for discussion is how much of the money is for mass t***sit - either expanding it or sustaining it. One of the dirty little secrets of t***sportation is the constant push for mass t***sit - and the dynamics of mass t***sit take on some very similar dynamics:

- mass t***sit almost always falls short of the optimistic projections of use and revenues, requiring significant subsidies for ongoing operation
- to the degree they are successful, they become a necessity to the folks who become totally reliant on them to travel to work and other essential t***sportation.
- unions realize their ability to pretty much shut down entire areas and use that leverage to bargain for higher pay and benefits regardless of the economic viability of their current employer to operate without government subsidy
- a higher subsidy is required to operate the already subsidized mass t***sit system
- less funds are available from the misnamed highway maintenance fund for highway maintenance.
- the Democratic Party is the recipient of greater funds from the t***sit workers unions.

.... this is the liberal cycle of life.

rocketride

"Welllllll", as Adam Savage would say, "there's your problem".

Dave Loc: Upstate New York

I love that term - fair share - which almost always means someone else pay more, and

I love the idea that Congress can deficit spend to infinity - all we need is Congress to open the purse strings and we'll all be fabulously wealthy

Must be nice to live in such alternate realities.