crazylibertarian wrote:
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How do you think someone who is Jewish would react if he were told to eat pork to support pig farmers?
What do you mean, she didn't know what she was getting into? What difference does that make?
There are plenty of other methods of contraconception. What's your next step there Sussman? Forcing the hospital to do a******ns?
I have no beef with the hospital or the religion of its owners. It's the absence of public institutions due to austerity. This is the cure:
We hold the following t***hs to be self-evident but doubts will be answered at our website.
1. The FICA taxes the poor workers non-discretionary income. Instead, all elderly should be helped according to need and annual costs should be general budget items as for the DOD.
2. The US dollars reserve currency status (which favors US consumers and exporters) requires our Treasury to maintain a large national debt, much of it owned by foreigners.
3. Congressional spending tends to increase our GDP growth rate and as long as our GDP growth rate exceeds the Fed's interest rate, our national debt can grow indefinitely and safely. (Check the math:
http://www.levyinstitute.org/publications/?docid=1379.).
4. Our Treasury borrows the annual budget deficit not because Congress needs money but only to drain just enough of bank reserves to enable the Fed to stay on its targeted federal funds interest rate, the basis of other rates. And when Congress has a budget surplus, Wall Street gets panicky about the shortage of US debt instruments on the market!
5. The Feds purchase of US debt decreases interest rates, increases bank deposits, and shifts a potential debt problem into a potential inflation problem (to be cured by the Feds rate hikes).
6. A Constitutional amendment requiring that annual federal budgets be balanced would be a deflationary disaster for our economy. Congress' deficit spending is needed to replace the dollars exported by our annual trade deficit. A trade surplus would permit a budget surplus.
7. Our optimum budget goal is: Budget Deficit = Trade Deficit + Private Savings. Less spending would increase unemployment; more spending would increase inflation. So, Congressional spending is limited ONLY by the onset of harmful inflation that is controlled by the Fed with moderate long-term interest rates and controlled by Congress with adequate progressive federal income tax on discretionary incomes.
8. GDP growth via Congressional spending is multiplied and almost doubled by the rippling effect of money flowing repetitively from consumer to merchants to supply-chain employees who are consumers. Such spending after WW II on GI housing and education, the Marshall Plan, nuclear energy, the Korean War, Cold War rearmament, the Interstate Highway System, NASA, etc., caused such growth that the GDP/Debt ratio dropped from a wartime 120% to 30% in 35 years, spurring prosperity that we now fondly remember as a time of unlimited futures.
8. Wars are won with infrastructure and we need as much as we can get. We should now be building enough to stay well ahead of a China going 24/7. Since a pot-hole may delay a vital delivery, all infrastructure is necessary for defense. Since Congress is responsible for national defense, it should pay for all infrastructure, including pot-holes, day-care, K-PhD education, and healthcare, all of which are NECESSARY for national defense. Of course, state and local governments would administrate most infrastructure programs.
9. If foreigners want to sell us their goods, they must accept our dollars. If they refuse our dollars, we will get our jobs back and make our own goods. But they will always want a strong dollar, gained only through productivity based upon the best possible infrastructure.
10. One quitting ones high-paying job for a lower-paying job to cut ones taxes is just crazy. Congress cutting spending to cut taxes is just as crazy. It should be spending on infrastructure.
11. Increased output for the same input is anti-inflationary so Congress will not cause harmful inflation by hiring idle unemployed labor to build infrastructure and increase productivity.
12. While excessive unemployment exists, excessive deficits are due only to low tax revenue and are not due to Congressional spending that hires the unemployed to build infrastructure.
13. High spending with sufficiently high tax revenue can produce lower budget deficits than low spending with low tax revenue. And added spending will yield added infrastructure.
14. The existence of excessive idle resources implies a failure of Congress to provide infrastructure for our national defense. Those in Congress who refuse to hire idle resources for building infrastructure are endangering our existence as a free nation as well as betraying our Founding Fathers demand that we
promote the general Welfare and secure the Blessings of Liberty to ourselves and to POSTERITY. V**ers, your adorable grandchildren are depending on you for their arsenal. Start taking names!
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Questions? Get answers from economists at
www.umkc/econ/???/.edu==============================================================
T***hs supplied by Marvin Sussman are derived from the following sources:
*Austerity (Oxford U. Press) by Mark Blyth, Brown U. Professor of International Political Economy.
*Freedom from National Debt (Two Harbors Press) by Frank N. Newman, former Deputy Secretary of the US Treasury, recipient of the Treasurys annual Alexander Hamilton award.
*Modern Money Theory (Palgrave Macmillan) by L. Randall Wray, UMKC Economics Dept.
*NewEconomicPerspectives.org by Dr. Stephanie Kelton, Chairperson, UMKC Economics Dept. *Seven Deadly Frauds of Economic Policy (Oxford U. Press) by Warren Mosler, economist.
*The T***h about the National Debt: Five Myths and One Reality (Harvard Business School Press) by Francis X. Cavanaugh, US Treasury economist for over 30 years.