Posted on 01/01/2013 9:52:16 AM PST by Cheerio
The White House issued a "fact sheet" statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure.
"At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy," the statement says. "For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.
(Excerpt) Read more at politico.com ...
Aided by “moderate” Republican sell outs. :(
How do they sleep at night?
Soundly.
On giant piles of our money and bags of Chinese IOUs....
Agreed.
We’re one giant step further down the road to Nazi Germany.
He declares “victory”? Then let him own it and all the rest of the mayhem and destruction that will befall this country in the near or not too distant future.
Projected federal spending for 2013 is 3.8 trillion dollars.
http://www.usfederalbudget.us/
That equals 10.41 billion dollars per day.
The "revenue" (read: taxes) that we are expecting to confiscate from the "rich" is 620 billion dollars OVER THE NEXT 10 YEARS.
That's only enough to cover federal spending for less than 2 months.
Even more sad is that the spending cuts proposed (15 billion dollars) wouldn't even fund the federal government for a day and a half.
And Obama is calling this a victory?
Constitutional Amendment.
Perhaps something like:
| Section 1. The power of Congress to regulate the value of the currency of the united states is hereby reascended. To guard against the indirect tampering of currency via the power to define Weights and Measures, the value of the Dollar shall be that of Gold -- of a purity not less than nine-hundred ninety-eight per thousand parts -- of a weight equal to one fifteenth of one hundredth of an avoirdupois ounce. Section 2. Congress shall incur no debt which shall cause the total obligations of the Federal government to exceed one-hundred-ten percent of the value of the gold physically in possession of the Treasury. Section 3. The Secretary of the Treasury shall, not less than once a year, make available a true accounting of the physical gold in the possession of the Treasury; this report shall be available to the public. Section 4. Any government agent seizing, attempting to seize, or causing seizure of gold or silver shall be charged with theft and, if found guilty, the punishment shall be: (1) twice the value of the theft shall be restored to the bereaved, (2) termination of employment, and (3) forfeiture of all retirement or pension benefits. |
Fractional reserve banking is what brought us out of poverty. Can you image going back to the gold standard. Not enough gold and silver in the world to match the dollars outstanding.
The above value-setting can fix the dollar to any amount of gold; we can use this to keep the dollar's current value relatively the same.
PRICE_OF_GOLD * TROY_CONVERSION_FACTOR * FRACTION_OF_OUNCE = NEW_DOLLAR_VALUE [The same as PRICE_OF_GOLD * TROY_CONVERSION_FACTOR / OUNCE_FRACTION_DENOMINATOR] (1675 * 0.911458333) / 1000 = 1.52669270777 (1675 * 0.911458333) / 1500 = 1.01779513852 (1675 * 0.911458333) / 80 = 19.0836588472
Interesting angle.
Actually, it is not. A bill can pass with less than 50 percent as long as they vote Present, and it is the only way to pin the blame clearly on the Dumbocrats. If they vote No it makes failure likely, which while I like that, will make it easy to be blamed for the coming recession, and Obamacare will guarantee that. If you really want to end socialism, the Dems must own the mess, and if you think the idiots of this country won’t blame the Republicans, then you haven’t seen the Blame Bush success for what it is.
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