USpatriot77 Loc: USA

Thanks to a Republican cave-in retired vets will lose cola increases and what else? What's next? Take away disability payments from returning vets wounded in action? Let's take away salary increases from the Congress, Senate and ALL federal civilian employees and see how they like it!

BeSafe

:evil: :thumbup: :thumbup: :thumbup: :thumbup: :thumbup: :thumbup: :thumbup: WE NEED TO UNITE AND CUT OFF WAGES FOR ALL THE ELITES!!!

nancyjess

You know i get on here and complain too... and not a damn thing is done about anything. !!
I am just appalled at how the office of the president of united states of america is sooo disrespected... and in upheaval...
we just cannot let it be as statis quo.
Everyone on this site and elsewhere if you care about america,
and all the soldiers that died for us.. we have to stand up and fight.! i am starting today... send out letters , call the reps...
senators , completely indulge them with letters and faxes... and calls so much so ... they will have to smarten up.
from now on .. put in these posts what you have done , not just complaints ! the republicans act like 12 yr olds in a school yard.and the democrats act like the chicago gang
we need a whole new government
maybe Ted Cruz was trying to tell us something.. ? but they will abolish anyone that makes sense..... !

MarvinSussman

Q1: Is our so-called “national debt” a serious debt, a burden that we must repay?
A1: No, It lacks both of those two essential qualities of a serious debt. It’s a “Debt In Name Only”, a “DINO” -

1. A serious debt is a burden. OUR DINO IS NOT NOW AND NEVER WILL BE THE TAXPAYER’S BURDEN.

The DINO is the total value of all issued and still maturing treasuries. By calling the DINO “unsustainable”, Wall Street con artists have panicked politicians, journalists, and the public with a h**x designed to privatize Social Security and Medicare and make a fortune in commissions. But, in a virtual rollover, it is the buyers of new issues, not the taxpayers, who pay for redemption of the mature treasuries. In every auction, more bonds are demanded than are available. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If it were ever necessary, the Fed could create an artificial demand for treasuries by buying large quantities in the open market with cost-free keystrokes. The taxpayer is NEVER burdened but almost all v**ers have swallowed the h**x!

Our Treasury does not borrow money like a home-buyer undertaking a mortgage. It is a custodian of funds, like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the main cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, let’s regulate the banks before restricting spending on infrastructure.

2. A serious debt must be repaid. OUR DINO WILL NEVER BE REPAID AND SHOULD NEVER BE REPAID.

Only a budget surplus can reduce the DINO. Since Truman, no President has reduced the DINO and no annual budget surplus is now in sight. Indeed, to supply enough treasuries, the ONLY risk-free instruments used for trade collateral, insurance, pensions, bank reserves, etc., OUR DINO MUST GROW WITH OUR ECONOMY. In fact, deflation and depression will hit us hard unless large budget deficits replace the cash that we are now exporting.

Q2: Could savers make a “run” on Treasury bonds?
A2: Yes, when savers can get risk-free returns from the Wall Street casino or from GM bonds, Illinois bonds, or Detroit bonds. Safety is not everything. Safety is the ONLY thing! That’s why the whole world relies on US bonds.

Q3. Could savers stop buying Treasury bonds?
A3. Sure, when nobody needs risk-free interest for trade collateral, insurance, pensions, bank reserves, etc., etc.

Q4: Could savers prefer foreign sovereign bonds?
A4: Yes, indeed! So far, almost two thirds of the world’s reserve currencies are in US dollars and about half of all US Treasury bonds are held by foreigners. But if China’s infrastructure and productivity become better than ours, its sovereign bonds could become safer than ours. But that could happen only if US v**ers worry more about the DINO than they worry about our falling bridges, failing schools, leaking sewers, aging power grids, etc., etc., etc.

Q5: Won’t we need higher tax rates to pay for infrastructure?
A5: Taxes only counteract inflation. Congress never spends tax revenue. The IRS destroys all of its receipts, actually shredding bills and melting coins for scrap. For spending, Congress creates new money out of thin air (just like your corner bank creates loans), deposits it in the Treasury, and writes checks. Then the Treasury auctions bonds to finance the deficit, which is limited only by Congress and NEVER by tax revenue. The only rational reason to restrict deficit spending is the onset of harmful inflation. Until then, Congress can and must spend freely on our DINO’s annual debt interest expense and on much-needed infrastructure. Every day, you fill your kitchen sink with water AND you prevent it from overflowing. Why can’t Congress fill our economy with money AND prevent inflation?

Q6: How can increasing the DINO be good for the economy?
A6: Every spent federal dollar not repossessed by the IRS is saved by the private sector. Our annual budget deficit is exactly equal to the annual increase in private sector savings. YES! DEFICITS = SAVINGS! No deficits, no savings! A tax deficit is a savings surplus. It is money left on the table for the savers by Uncle Sam because he didn’t need it to prevent harmful inflation and because consumers need it to consume. We do not have a “national debt”. We have a “national savings”. The bad “Debt Clock” is really the good “Savings Clock”. How can we have too much savings?

Since bank loans must be repaid with interest and cash is flowing to China, a tax deficit / savings surplus is the ONLY savings source that can sustain our economy. We need to DOUBLE the DINO / total savings to return it to the World War II level that was followed by 35 years of prosperity without harmful inflation even with very high taxes. Our (DINO + total bank deposits) / GDP ratio is less than half of the comparable figure for China. Our M2 (money supply) / GDP ratio is half of Switzerland’s ratio and one fourth of Hong Kong’s ratio. We should be matching them.

Q7: How much should Congress tax and spend?
A7: Ideally, Congress should tax just enough to prevent harmful inflation and should spend almost enough to cause full employment (and harmful inflation). Result: low unemployment and low inflation.

Instead, Congress, bribed by Wall Street, taxes as little as possible, enriching the rich, and spends as little as possible, impoverishing the rest of us by restricting the DINO / total savings. Just as quacks k**led George Washington by bleeding his “bad blood”, Congress is destroying our younger generations by reducing (possibly to zero!) our annual budget deficits / private sector savings increase / consumer demand. And, by bribing Congress into austerity, the Wall Street charlatans are deliberately nursing a huge army of unemployed labor to suppress the wages and working conditions of the middle class.

Result: recessions, high unemployment, an army of unemployed labor, a growing under-class, a scared work force, declining wages and consumer demand: a downward spiral of despair threatening deflation and depression. Growing ine******y will create a land of slums and gated communities: Hell on Earth!

Austerity today deprives our grandchildren of infrastructure that would surely enrich and possibly save their lives. We must educate all of them now and employ all of our resources to build the infrastructure that they will need when they become parents. Let’s follow Presidents Lincoln (railways, telegraph, land-grant colleges), Theodore Roosevelt (National Parks, Panama Canal), and FDR (TVA, PWA, WPA, etc.)

Q8: How should one v**e?
A8: V**e only for someone who NEVER EVER worries about the DINO and who ALWAYS worries about Americans looking for work and reluctantly drawing benefits forever instead of building infrastructure ”…to promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity…”

Q9: “I have to balance my budget. Why doesn’t Congress balance its budget?”
A9: If you could legally print money in your attic, why would you balance your budget? Congress only needs to balance full employment against harmful inflation. Why is something so simple so hard to see?
To restore and maintain prosperity, v**ers must be convinced that Congress can and must spend heavily on much-needed infrastructure, limited ONLY by the onset of harmful inflation. To help convince the v**ers, please copy and distribute this message.

bmac32 Loc: West Florida

FINAL PUSH BY Senate Republicans to block cuts to military retiree benefits fails after Dems reject an amendment to the two-year budget bill, which is expected to face a final v**e Wednesday.

BeSafe

:thumbup: :thumbup: :thumbup: I strongly agree we need to get on the ball, Because these Actions will affect all of us not just one side or the other. Remember what the Bible says: A kingdom divided will NOT stand!💔!!!