Reich: Ignore Debt Ceiling

Hey Barry:

Robert Reich says 'Just ignore the debt ceiling and continue to issue and redeem T-bills. No big thang.'

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/07/29/EDD01KGFVC.DTL

I defer to him on the legalities, and it sounds very good.

So, Congress can't act. Ignore them and continue business as usual. Some folks sayin y'all can use the 14th Amendment, anyways.

So, go ahead. This is where we really need you to act, Barry.

We know y'all will lose some sleep, but that's why we pay you the big bucks. Hahahahaha. I needed a laugh.

Once the mess is resolved, then we can target some of the ignorant Tea Partiers and elect some folks who know what they're doing.

We with you Barry. Run our country the best way you can.

Your pal,

Still A No-Brainer: Disclose Political Contributions

Hey Barry:

According to the WAPO: [http://www.washingtonpost.com/politics/house-dems-to-obama-require-contractors-to-disclose-political-donations/2011/07/28/gIQAgOg1eI_story.html] the Dems want disclosure of political contributions.

This is a follow up to an earlier posting of the same idea.

What's to think, Barry?

If some corporations like Lockheed, Boeing and even the Acme Road-Runner Fireworks Company, Inc., LLC, LLP, LtD. all want to get some of my tax money from a government contract, they gotta tell us all how much will go to bribing folks to get more money. It should be a part of every contract application, big and small: disclose all payments to anyone conducting business with an elected or empoyed official of the United States Government. Period.

Thought it was already there.

Holy cow, Barry, it's a no-brainer.

Keep on it.

Your pal,

Tea Party Agreements

Hey Tea Party:

Let's have a short talk about the economy of the good ol U S of A.

After all, it's the place we all call home and the place we want to make better.

Now, I know that you folks sincerely want to make the country a better place and we sure agree there.

It'd be just wonderful if we could lower taxes and then get more jobs and also reduce federal spending.

After all, you folks have a good point, namely we just have to get a better handle on our fiscal policy pretty soon or we will be in big trouble.

We can all agree on that.

So, the bottom line here is that we can agree on the broad objectives for the country.

Our only, little disagreement is on how to get there.

There are a couple of things that you folks need to consider pretty seriously in trying to get to the goal we share.

First thing is this: lowering taxes does NOT create more jobs.

I'll grant that there is a small logic there: namely, if people have more money to spend then businesses will hire people to fill the new demand.

Well, even though that sound plausible, it does not work. The record shows that lowering taxes within limits actually reduces the number of jobs. We have proven that several times over the years, most recently with G W Bush policies. I know it does not make sense. It just is.

So, why do some politicians keep on saying that same old thing? The only reason I can figure out is that it gets them votes and campaign contributions. It would be good if politicians did not say things that are not true - well, we can sure agree on that.

So, we can expect politicians to keep on saying that lowering taxes creates jobs - it's our job to see through the BS.

Now, a reasonable person is going to ask this: How is it that keeping taxes high actually creates jobs?

And the answer is something they don't tell you in Econ 1, which I should know about because that's what I teach.

Here's the thing, there are about 70 million people who receive checks from the federal government every month. That's about one out of every 4.4 people [our population is about 311 million today]. If you know ten people, then you know at least two people who depend on the federal check to buy food and rent and medications and so on.

Now if all those folks don't get regular checks, well they won't be able to buy stuff. And, if they can't buy anything, that means that all the businesses they buy stuff from will have to lay off people.

So, by not sending out regular monthly checks, the Federal government will actually KILL about 25% of the jobs in the country.

That would create a very big Depression. It would be social and economic chaos with huge increases in crime and gang activity. Most folks, including you and I, would be afraid to go out of the house after dark.

Now, the second thing you folks need to be very careful about is the idea to stop the federal government from borrowing any more by refusing to raise the debt ceiling of the USA.

That idea seems to make sense - after all if you can’t borrow any more, then you can't spend any more, right?

Trouble is this: we have already spent the money.

Now we have to pay it back.

It's a simple idea.

Pay for what you buy - no brainer there.

But, here's the thing: the only place to get the money is to borrow it.

Of course in theory we could raise taxes to pay for what we spent, but that option is only a theory because of our catatonic political system.

Borrowing is our only option.

Now, I am not saying that is where we want to be.

However, that is where we are.

We agree that we have to fix that.

But, first we have to increase the debt ceiling.

Because, if we don't raise the debt ceiling now, then we will have a great Depression and we will never fix the problem.

If we buy some time, then maybe we can act as real patriots who place country ahead of personal advantage and really fix the problem the way our Founding Fathers expected us to: by political compromises in the best interests of the country.

Here's how the Rolling Stones said it:

'No, you can't always get what you want
You can't always get what you want
You can't always get what you want
And if you try sometime you find
You get what you need'

Well, anyway, if any of you want to explore our common areas, feel free to email me at: mckeever.mp@gmail.com

Your pal,

Budget: Big Money Class War

Hey Barry:

Well, you know it's kinda hard to figure out what's really going on with the debt and budget thing.

All I can do is to watch TV and try not to get angry.

Here's what it looks like from this end: Big Money is pullin the Reps strings so they're negotiating tough, real tough.

Thing is, the Reps and their puppeteers don't give a rosy red rat's a-- for what happens to the country so long as their taxes don't get raised. It's just a game for them. They lie, they steal.

I guess our only hope is that enough voters out here get the message. Then, we can vote out all the Reps and elect some patriotic people. Patriots, you remember them, the folks who put country before money. There are still some around.

But, in the meantime, Ya gotta feel sorry for the Tea Party folks who buy the Rep's hook, line and sinker.

We also gotta get those Tea Party folks out of power before they give even what we have left to the fat cats.

We know one thing: if the country defaults, Big Money will be OK and the rest of us will pay the price with even more $5 per hour jobs, unemployment and hunger.

So, Barry, since it's all politics at this point - get tough. Out tough the Big Money. We with you.

Give an inch so we can stick it to the the Reps down the road. Save the country, fight the Class War.

It's where we are.

Your pal,

JP Morgan Chase: 'Dance forever with the devil'

Hey Barry:

Here's a song about bankers:

'Dance forever with the devil on a cold cell block
But that's what happens when you rape, murder and sell rock'

[Lyrics for Dance With The Devil as interpreted by MrMojoRisin5552]

Alabama's most populous county is deciding whether to file bankruptcy.

Why? They made a deal with JP Morgan Chase. They are paying the price.

Maybe it's time.

Let's put the bankers in a cell.

Your pal,

Tame the Gods, Tame the Politics

Hey Barry;

Holy Cow, Barry.

I'd really like to be optimistic, Barry, maybe there's a chance that we can really solve all the issues.

But, Barry, it don't look real good right now.

Y'all in DC caint get the simplest thing done. It's just a budget and a self imposed borrowing limit. It's just a simple thing. But, it don't seem like we can do it.

And, Barry, we are the ones who can unleash nuclear holocaust on ourselves.

We know we can do that.

But, can we prevent it?

For example, Entergy Corp is refueling its Vermont Yankee plant with more nuclear fuel even though the State of Vermont wants to revoke its operating permit. Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/07/25/national/a052752D25.DTL

So, Barry, here's the question: If we caint even do the simplest thing, how in the Hell are we going to control Mother Nature?

Is this my choice? Whether to die from radiation poisoning or to grow hungry and sick from political malpractice?

Barry, ya gotta tame the Gods and ya gotta tame the politics.

We're counting on you - for the grandchildren, yours to come and mine: Victor, Sydney, Brooke and Carson.

Your pal,