Economics lesson for Beth a Tea Partier:

No. No, No!  You are definitely listening to Glenn Beck, Rush, Michael Savage and Fox News too much.  Reading too much Breitbart “News.”  Obama has $3 trillion of the total $14.7 deficit.  But this includes about $2.5 trillion that Bush had off the books and he added into the Budget—making him look like a bigger spender than he is.  He gets a percentage of the TARP (because Bush started it) and the auto bailout.  The truth is:

A Republican has been President and/or they have had a majority in Congress since 1980.  Therefore they have 100% ownership of the total national deficit ($14.7 trillion).  Ed Shultz, July 28, 2011.

You should look at John Sunnunu’s op-ed in the current Time magazine (former Republican gov of NH). He says that 47% of Americans are on the federal dime and if you look at it broader it is actually 75% (3 of 4 people), and that is why no progress in these cuts can be made.

“Shared Sacrifice” to the Republicans means sacrifice for the 98% of Americans and sharing of your wealth for the lucky 2%. – Nancy Pelosi

-that economists feel the Dow should be at 5,000 not 12,500 and it has to correct itself.  It is a house of cards we have built on—pure speculation—no value to it.  Too much commodities trading without taking possession of the goods.  Oil is getting close to it’s correct price over $100 a barrel but the cost of gas is at only $3.35- $3.50—it should be about $13.00.  So much in our daily lives is subsidized: banking, ethanol, drugs, transportation, communication,  farming, food, etc.; without any real connection to its true value.  That is why the debt ceiling thing is so dangerous because there is no substance holding the balloon up and the smallest pin prick destroys the balloon (world economy)……

http://governmentgonewild.org/thelist

This is bad. Well how about the woman that was sitting next to Rep. Paul Ryan (R) and he was with a lobbyist and they drank two bottles of $600.00 wine. MONEY IN POLITICS IS THE SICKNESS THAT IS RUINING OUR COUNTRY. A Campaign Finance law would fix this. Greed is what drives people to 1) vote for politicians that are not representing their best interests; 2) listen to millionaire and billionaire pundits that say one day you too will be rich.

http://usdebt.kleptocracy.us/

This guy posted this: Sergey Snegiryov
If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours. (John Maynard Keynes).

Just weeks before she called for “breaking up” federal home-lending giants Fannie Mae and Freddie Mac in 2008, Rep. Michele Bachmann (R-MN) received a $417,000 mortgage to help finance the purchase of her new home, a 5,200 square-foot mansion next to a golf course. Either Fannie or Freddie — both of which Bachmann deemed an impossible burden on taxpayers — definitely backed the loan, according to experts who have examined the property documents.

You have to remember that the only people who made it out of the Panic of 1873, Panic of 1893 and the Republican Great Depression of 1929, the recession of 1948, the recession of 1958, and the Republican Great Recession of 2008; in better shape than they went in, were the mega-super rich: the Morgans, Chases, Rockefeller’s, Kennedy’s, etc.,  I think many Republicans in Congress think they too can prosper if everyone else takes the fall for them….(especially with their “Insider Trading” knowledge).

Beth to your credit you are involved in redistricting and grassroots efforts of your local Tea Party but in a way this is a self-fulfilling prophesy of corporate rule when Dick Armey and the Koch Brothers have funded the national organization to the tune of nearly a billion dollars to protect the oil and coal industries they own and to bust unions that would raise their labor costs.  We are just pawns in this game; easily sacrificed.  Even the self-appointed Congressional head of the TP is Michelle Bachman and she is clearly on the public dole accepting over one million dollars in farm subsidies and Medicaid funding for her husband’s clinic.   The leaders are hypocrites and are only too eager to have you “fall in line” in a Democratic Party, a Republican Party or even now, the Tea Party.  It is all another method of controlling the WE THE PEOPLE and keeping the status quo of the rich get richer.  Remember that the top 2% controlled $8 billion in assets in 1980 and now control $40 billion, which was more than all the assets in the world in 1980; the minimum wage went from $2.25 to $7.25 and if adjusted to inflation would have been $13.75—so we are losing purchasing power (while being the frogs in the very slowly boiling water).  The ideas being brought to the table by the R’s are BOGUS and are ONLY designed to take away everything you have or wish to ever have.  Including your rights to fight back.  Like bringing on another Republican Great Depression on which I pointed out that only the RICH HISTORICALLY SURVIVE INTACT.  Privatizing the big three (SS, M and M) will give them the money; not you or I.  It is clearly another Ponzi scheme to take things away from you and I.  Get the money to Wall Street where it can be gambled away secretly back to themselves.  The crisis is BOGUS, the debt ceiling has been raised over 100 times since 1917.  18 times under Reagan and 17 times since his Regime as you call it (President Obama).

If we go to a balanced budget amendment, we should add to it: a line item veto, language that says that only one topic may be in a bill, perhaps a biannual appropriation process so the fight doesn’t coincide with the House election, and recall and referendum. These are all things in New Mexico’s Constitution and many other states—and cut out a lot of the foolish that goes on in D.C.  Constitutions that are more modern than 1789.  But because the feds are the only ones to print money and jump start an economy sometimes deficit spending is necessary. Maybe we also should be putting the Federal Reserve under the Treasury. The balanced budget amendment should also have exemptions like War, Depression and any time the GNP doesn’t grow by X% for more than 5 quarters. But then the exemptions would be applying right now……..

I think we need a little “economics lesson” here.  Clearly, you don’t know history, economics, or politics.  For starters, I have never heard of Thomas Sowell, the name you use as an “expert” that you heard on Faux News.  So let’s look at his credentials:

“The Rose and Milton Friedman senior fellow on public policy at Stanford University’s Hoover Institution.”

Milton Friedman from the Chicago School of Economics is an Ayn Rand cult member and had an influence on Alan Greenspan, another Ayn Rand cult member, who could not believe there could be a housing bubble in 2007-8 or a stock market crash in 2001: “the economy is fundamentally sound.”  Greenspan is married to Andrea Mitchell of NBC News.  The connections are important to note because this is how their philosophy is spread to Representative Paul Ryan.  The Ayn Rand cult believed in free sex and exchanged partners in an expression of free market thinking; they were above the “production classes” and therefore could ignore the rules of society and government.  But then that is another story.

Friedman is father of billionaire Thomas Friedman a conservative writer at the New York Times, who advised the Bush campaign.  There are a number of insider trading allegations on how this wealth was accumulated.  But then that is still another story.

Friedman taught David Stockman, Reagan’s Budget Director, who now suffering from cancer, and seeking forgiveness before he dies, admits he made up most of his theories on Reaganomics.  He actually never believed they would work but knew the upper class could use them to do really well.  The root cause of all our economic problems now is Reaganomics starting in 1980.  Not too much government, or too much taxation; just half-baked economic policy created to destroy the middle class and to make labor cheap.  Keep people afraid of losing their jobs and they work harder and even for less.

The Hoover Institution is named after President Hubert Hoover that presided over the first Republican Great Depression in 1929.  The institution supports people who write revisionist history and try to “clear” the Hoover name and the Republican Party for the Great Depression and the Panic of 1893-94.

With these credentials who needs enemies or facts even?

If we want reasonable economic theory we need to read Paul Krugman.  About 25,000 economists agree with Krugman (that leaves about five and DiSouzsa).  He is very often at odds with the Obama Administration who has kept on too many Republican hold-overs like Tim Geithner, Ben Bernacke and Larry Summers (wall Street insiders who caused 2008).  People adept at prolonging the housing bubble, the Federal Reserve, and the house of cards we call the Stock Market.

Another good economist is Robert Reich.

Beth, hit the books again and learn the real facts!  You will be shocked to the core!  You may need to take a shower immediately after going to your political meetings or listening to the right-wing “news” sources.

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