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Responsible Fiscal Cliff Resolution

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Public banking works. It's an idea whose time has come. Privatized money power is destructive. Regaining public control more than ever is needed. 

Colonial America prospered that way tax and inflation-free. It's the same wherever it's instituted. Imagine if Wall Street's controlled Federal Reserve was nationalized.

Its franchise would be abolished. Giant banks could be broken up. Too-big-to-fail ones could end. Insolvent ones would be shut down. Responsibly run public ones would replace them. 

Sustainable inflation-free prosperity could follow. Readily available credit makes it possible. All boats could be lifted equitably. It happened in America before and could again. Political will alone prevents it.

Imagine the difference under public banks. They're not beholden to Wall Street or shareholders. They don't have to earn profits. They don't pay huge salaries and bonuses. 

They're mandated only to serve communities, businesses of all sizes, farmers, and private individuals responsibly. They're very much up to the task. They succeed marvelously.

Federal, state and local debt could be substantially reduced or eliminated. So could personal and payroll taxes. America's manufacturing base could be rebuilt. 

Social programs could be funded inflation-free. Infrastructure rebuilding could be prioritized. It could be done on a scale never before imagined.

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Environmental cleanup could happen. Alternative, sustainable, clean, safe, affordable energy sources could be developed.

Millions of good-paying jobs could be created. Employment would exist for everyone willing and able to work. People with money spend it. Doing so enhances economic growth.

Home ownership would be available to millions. Foreclosures would end. Mortgages would be sustainably cheap. Booms and busts would end. So would destructive currency devaluations and economic warfare.

Private pensions, savings and investments would be safe. Social Security, Medicare, Medicaid, public pensions, and other vital benefits would be secure in perpetuity. So would sustainable prosperity. 

Fiscal cliff duplicitous hype wouldn't exist. Imagine this kind of nation. It's not pie-in-the-sky. Colonial America proved it works. So have other nations where it was tried. Why not again now. Political will alone prevents it. People power can change things. 

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Reinstitute anti-trust laws with teeth. Prohibit monopoly and oligopoly power.

Revoke corporate personhood. Business giants are private tyrannies. Their rights are the same as people. Limited liability status eliminates most responsibilities. 

They're a universe unto themselves. They can reside in many places simultaneously. They can't be imprisoned for wrongdoing. They take full advantage. 

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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