Thursday the federal government restarted some of its operations after Congress and President Obama came to terms with raising the nation's debt ceiling and did nothing to find a way to stay within its debt limit in the future. They did nothing more than 'kick the can' down the road, as Congress and other presidential administrations have done since the United States removed itself from the gold standard. Congress will have until February 7, 2014 before the debt ceiling is expected to be met again.
An organization was created by Erskine Bowles and former Senator Alan Simpson to co-chair President Obama's 2010 National Commission on Fiscal Responsibility and Reform (NCFRR). NCFRR's stated directive from Obama was to identify "…policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run." The commission has been commonly referred to as 'Simpson-Bowles' after they came out with recommendations in December, 2010 to Congress and the president, which was quickly ignored. The two them formed their own organization called Fix the Debt.
Yesterday Adrian Wyllie, candidate to be Florida's next governor, published a highly critical open letter regarding the Fix the Debt organization (see below). Wyllie is the former chair of the Libertarian Party of Florida and joined Fix the Debt Florida chapter, serving on their Florida Steering Committee until yesterday when he resigned. Wyllie has been having reservations about the group for some time as to whether they were truly committed to fixing the debt of the nation and returning the country to sound economic principles as they seem to talk a good game publicly, however seem unwilling to do any more than Congress does today.
Fix the Debt has approximately 361,000 Americans who have signed their citizen's petition stating the America's debt situation is unsustainable. Interestingly their website is lacking serious, comprehensive paths to resolving the currency, debt and budget issues facing the nation. The U.S. Dollar has fallen sharply since the debt deal was signed in the early hours of Thursday and has lost over 18% of its value since 2003.
Here is Adrian Wyllie's open letter:
As of this moment, I serve on the Florida Steering Committee for Fix The Debt, which “is a non-partisan movement to put America on a better fiscal and economic path.”
I was originally honored to have been selected to serve in this national organization, which I believed was dedicated to truly resolving America’s national debt crisis.
I was excited to be a part of a group which included many U.S. Congressmen, Senators, Cabinet members, and CEOs. I thought this would be an excellent venue to collaborate on ideas to solve our debt, deficit, and currency crises. I welcomed the opportunity to have the ear of people like Erskine Bowles, Sen. Alan Simpson, Sen. Judd Gregg, and NYC Mayor Michael Bloomberg.
Republicans, Democrats, independents, and at least one Libertarian, working together to solve a serious problem. It seemed to be an excellent idea.
Early on in our initial press conferences and conference calls, I noticed that the leaders of the organization seemed to be more interested in public relations than in actual solutions. Their focus seemed to explaining to the American people that ever-increasing debt is inevitable, while making them believe Congress was doing the best they could under the circumstances.
I brought up issues like quantitative easing and the potential for runaway inflation. I was met with awkward silences and dismissive platitudes.
As time went on, I attempted to on several occasions steer the conversation toward fixing the root causes of economic problems, such as ex nihilo fiat currency and fractional reserve lending.
My objections and suggestions fell on deaf ears. I was treated as the token Libertarian shouting that the emperor has no clothes.
The most recent conference call I participated in was on October 2nd. The topic was the government shutdown and the debt ceiling increase. The leaders were providing talking points to the members on how the debt ceiling must be raised, and how we must be “smart” about raising it.
In fact, they were operating under the confident assumption that the debt ceiling would be raised. It was as if they knew it would happen via insider information. The not-so-subtle implied message was that we, the members, must spin it in the “right way” on their behalf.
I attempted to obtain the floor in order to speak out in opposition to their conclusion that the debt ceiling must be raised.
They would not recognize me. I was not heard.
It is now crystal clear to me that Fix The Debt has a single purpose, it has nothing to do with actually fixing the debt.
Their purpose is to give political cover to Congress for their fiscal transgressions against the American people; and to encourage political leaders, community leaders, and business leaders to drink the Kool Aid and disseminate the propaganda.
Therefore, I hereby immediately and publicly resign from Fix the Debt.
You will no longer use my name to lend undeserved credibility to your organization. I will no longer be a party to the fleecing of America’s future, nor will I provide aid and comfort to a Congress and President whose actions border on treason.
Adrian Wyllie, Libertarian Party candidate for Governor of Florida"
Wyllie is among 21 Floridians in the gubernatorial race to be Florida's next governor in the November, 2014 general election. His most notable opponents are Florida Governor Rick Scott and Democrat Nan Rich and we will not know until June, 2014 who of the 21 candidates actually qualify to be on the November, 2014 ballot.