Posted on 04/11/2018 5:58:43 AM PDT by DoodleDawg
The House of Representatives just passed a $1.3 trillion spending bill which none of them read. In it, the majority party violated virtually every campaign promise they made to get elected. The things they promised to cut were fully funded, and the things they promised to fund did not get done. The level of corruption and derogation of duty is staggering. This is the reality. And apparently, this is the setup for a really good joke too.
Soon, the very same House of Representatives is set to take up a proposal to call for a Balanced Budget Amendment to the Constitution, allegedly to impose some fiscal sanity upon themselves. Because they can’t stop spending, apparently we should trust them to impose spending restraint upon themselves by passing a Balanced Budget Amendment.
Witness, in full color, the irony that is lost on Washington, D.C. The same people who just mortgaged our future with a budget bill that looks more like it was proposed by a big government, Democratic Congress than a government with all branches controlled by Republicans, are now going to debate, and possibly pass, a recommendation that the states impose a balanced budget upon themselves. How about they just stop spending the money instead?
(Excerpt) Read more at thehill.com ...
The biggest argument for a balanced budget amendment is to force politicians to do what they’re incapable of doing themselves: living within their means.
The purpose of the original Federal Government was to oversee the Republic. The current purpose of the Federal Government is to spend money to buy votes.
They gotta fund all their pork projects. How else will they come to office as a pauper and leave as millionaires.
They are right about one thing......
A balanced budget amendment would have made last years tax cuts impossible since they weren't paid for. It has zero chance of getting the necessary two-thirds in each House and the Republicans know it. It is merely a cheap stunt that they hope will convince voters that having run up spending and the deficit to near record heights they are now serous about fiscal responsibility. Like I said, they think we're all dumber than dirt.
Economic collapse is inevitable. I just want them to keep the scam going to forestall it until I’m dead. Borrow, cook the books...whatever it takes.
If you’re not interested in reducing spending, you can easily balance the budget by raising taxes.
Why people fall for this ruse is beyond me.
The biggest ruse is voting for R’s and D’s and expecting something different.
The GOP RINO leadership would not fight for, and use their majority to over rule Dims in the Senate (which they could have), to pass a bill they know their supporters would support. Instead they punted, just so as to seem “bipartisan”, which their opponents would never do. That punt bought Dim cooperation with domestic spending plums the Dims wanted, and the Dims did not protest the defense spending the GOP knew it needed. It was unnecessary, it merely avoided a fight and the RINOs wanted to appear nice for the cameras - for the “can’t we all just get along club”. Its a club in Congress only the RINOs belong to. The Dims are always just stand ins - laughing all the way back to their voters with the phrase “look at all the candy I brought home to you”.
Today it is Ryan who is announcing he will not run for reelection in November. The greater good would be served by the resignation of Mitch McConnell.
| Fiscal Responsibility Amendment |
|---|
| Section I The power of Congress to regulate the value of money is hereby rescinded; the unit of money of the United States is the Dollar. Section II Section III Section IV Section V Section VI Section VII Section VIII |
They have thought we were all stupid for decades.
They would not have tried to foist Designated Losers like McCain and Romney on us if they did not.
Gold is measured in troy ounces, not avoirdupois. One troy ounce is slightly over 31 grams and not just under 28.4. So you need to change the wording in Section II and Section III. Minor detail.
Section IV, the total amount of U.S. gold reserves is reported monthly I believe. It's available online. Current reserves are just under 261.5 million ounces or 8,133.5 tons.
Section V, how do you value it? Gold prices fluctuate minute by minute during the course of the day, and will also vary market to market. Officially the U.S. values our gold reserves at the laughably low price of $42 per once, reason being that they have to use some value for accounting purposes. Given that, the book value of our gold reserves are worth about $260 billion dollars, and that wouldn't support a fraction of our debt. Use market price and our ability to borrow would fluctuate by billions of dollars on any given day.
Section VIII, there isn't enough gold in the world to do that.
We're Americans, we can measure gold in Stone (14 pounds) if we wish… besides Troy ounces are kinda stupid, whereas every American already has experience with avoirdupois ounces: it's the same thing that's on your birth certificate (lbs / oz).
Section V, how do you value it? Gold prices fluctuate minute by minute during the course of the day, and will also vary market to market.
The problem is that you're looking at Gold being valued in Federal Reserve Notes; if you have the Dollar valued in gold the price of gold is a constant, straight line.
Officially the U.S. values our gold reserves at the laughably low price of $42 per once, reason being that they have to use some value for accounting purposes. Given that, the book value of our gold reserves are worth about $260 billion dollars, and that wouldn't support a fraction of our debt. Use market price and our ability to borrow would fluctuate by billions of dollars on any given day.
Much of our public debt is actually illegitimately laid to the public; the Federal Reserve Act illegitimately made something other than Gold or Silver tender — since the States themselves are prohibited from making any Thing other than gold or silver tender for debt the Senators for those states simply did not have the authority to pass that Act.
Now, I'm not saying the Federal Reserve should just eat that debt; Amendment 14, in its penultimate section, forbids questioning the legitimacy of the public debt. The Congressmen therefore must have been acting in their own personal capacities when accruing that debt, as the aforementioned prohibition in the Constitution for things other than gold or silver prohibits the States from having Federal Reserve Notes as tender precisely because they are not Gold or Silver. — Let the Federal Reserve go after the politicians that incurred the debts.
Section VIII, there isn't enough gold in the world to do that.
Sure there is. You're trying to think in terms of Federal Reserve Notes and their valuations, rather than in Dollars-as-a-unit-of-gold.
America already has experience with troy ounces, too. It's been the unit of measure for precious metals for centuries and the official weight standard for U.S. coinage since 1828. Besides, it's the internationally recognized unit of weight. Using two would cause problems in international trade.
The problem is that you're looking at Gold being valued in Federal Reserve Notes; if you have the Dollar valued in gold the price of gold is a constant, straight line
Nonsense. Gold is traded in markets all over the world. A dollar pegged to one troy ounce of gold on U.S. markets could be valued more or less in London and Hong Kong.
Much of our public debt is actually illegitimately laid to the public; the Federal Reserve Act illegitimately made something other than Gold or Silver tender — since the States themselves are prohibited from making any Thing other than gold or silver tender for debt the Senators for those states simply did not have the authority to pass that Act.
OK well if you're going to go all X Files on me then there's nothing left to discuss.
What's X Files about it?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.