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Diary

The Sultan of Spite's New Grand Bargain?

By   Follow Me on Twitter     Message Robert Cogan     Permalink    (# of views)   No comments

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You, reader, are in danger of loss of some Social Security and Medicare. Austerity - minded Congressmen like PaulRyan now dominate both houses of Congress. The sweep Spite Vote of 2016 positioned these "solons of budgeting," S.O.B.'s of social stinginess, for a "deal" with the Republican Sultan of Spite, DonaldTrump. Beyond repeal of Obamacare, they want cuts to Social Security, Medicare, Medicaid, taxes, even food stamps for the poor.

Trump wants expensive, long outdated, futile vanity items: a $22 billion wall, $30 billion more now for war, plus $54 billion more for another "Surge," and $137 billion tax credits for private infrastructure building. He's been inconsistent on social expenditures. What if he and they reach a deal: The SOB's will approve his items, if he doesn't veto their cuts to Social Security, Medicare, etc.?

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The basis of Austerity was the conservatives claim that counter - recessionary social spending (while the deficit increased) would eventually bankrupt the U.S. This was a colossal lie. Even Trump, in a May 10 TV interview, said there was no chance of bankruptcy, because "you [the government] prints the money." That's "currency sovereignty." Nor is hyperinflation an inevitable, disastrous consequence (see Volcker, Paul.)

Under currency sovereignty "greenback" money is just created, without taxing to get it. The U.S. government can spend greenbacks for infrastructure, Social Security, etc. without increasing the national debt! To beat Austerity, learn the historical facts about how greenbacks empowered the Revolutionary and Union armies. Currency sovereignty is like a battery charger. A charge of, say, $1 trillion electronic greenbacks into federal accounts, for slow spending for direct federal jobs in infrastructure and entitlements account maintenance, national day care, etc., would restart our domestic economic engine. If we don't shove these facts before eyes and into ears of legislators, newspaper editors, and TV pundits , the SOB's, conservative confiscators, may legally confiscate a lot of your general welfare entitlement income.

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I could be Bernie Sanders older brother by similarity. I was born in Manhattan, 1940, he, about a year later, in Brooklyn. I too am a white male American. A retired college professor of philosophy. We both were born of Jewish parents. I was (more...)
 

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