Wisconsin Representative Paul Ryan and other House Republicans have drafted an alternative budget. The Republican sponsored budget calls for the opposite course of action than the budget proposed by President Obama. It seems that Rep. Ryan has studied history and learned to choose the path of Reagan and shun the economic policies of Carter. The GOP Sponsored bill calls for halting spending and reducing taxes.
Ryan said Obama's budget "is little more than a thinly veiled attempt by Washington to spend its way into prosperity, tax its way into tax relief, and borrow its way into debt reduction."
Although the Republican plan, in my opinion makes more sense and has a greater chance of working, it has no chance to be passed into law. Unfortunately, the House Republicans do not have enough votes to pass their budget, nor do they have the votes to stop Obama's budget from passing.Given the recession and the financial crisis, the budget outlook has become truly bleak, with the deficit for the current budget year expected in the $1.7 trillion range and the deficit for 2010 seen at between $1.2 trillion to $1.4 trillion, depending on whether additional financial bailout funds are approved. Obama's budget, according to the Congressional Budget Office, would produce unsustainable deficits that never go below 4 percent of the size of the economy. The alternatives offered by House and Senate Democrats would do somewhat better.
There is no easy answer to get us out of this economic quagmire. One of the comments to my last article (unitethegop) referenced a bill before the House entitled Federal Reserve Transparency Act of 2009, H.R. 1207. This bill needs our support to be passed. Essentially this bill requires a full audit of the Federal Reserve, for the FIRST TIME in the history of the Federal Reserve. We would actually see where our money is being spent. This bill is essential for our time in history. The time has come for all of us to get our financial houses in order, most especially the Federal Government. Please contact your representatives and encourage them to pass H.R. 1207. Let's make our government be responsible to "We the People".
Comments
HR1207 now has 55 cosponsers!!! My rep hasn't, though...so I call him every other day to ask why.
"We would actually see where our money is being spent."
First, one needs to study both the concept and the implementation of central banking. The FED doesn't spend our money, it creates it.
Second, while there is nothing inherently wrong with R. Paul's proposed amendment, there is nothing earth shattering about it. It merely requests information with a recommendation. (i've posted the text from GovTrack below.)
Third, most people have zero understanding of 'money', and Americans are the most illiterate about it. We are blessed to live in an incredibly productive society and to have had an effective and well regulated monetary system for 3 generations; no need for us to wrap our minds around the concept of fractional-reserves.
Bottom line is that 'money' is a convenient figment. Staring into the abstraction really doesn't tell you much.
Knowing that in world and US history the banksters have always attempted to defraud people who use the convenience of 'money' should lead you to understand that banksters need to be policed. Greenspan's RANDian philosophy and his position as the chief cop in service of a Neo-Conservative Republican administration let the banksters go wild - again. Just like they did the last time.
For those interested in the topic of the FED, i commend the writings of the late Senator from Oklahoma (D), Robert L. Owen, co-sponsor of the 1913 Federal Reserve Act.
<(2) REPORT-
‘(A) REQUIRED- A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, the majority and minority leaders of the Senate, the Chairman and Ranking Member of the committee and each subcommittee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
‘(B) CONTENTS- The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.’.>
Hey Mike - don't faint or anything, but we actually agree on something. Money is a figment. That concept is actually the reason behind our current economic situation. We were operating in an over-inflated imaginary economy and now we are dealing with a market correction that is deflating the money bubble we enjoyed for years.
Aaron -who is your rep - i will give him a call if you call my rep =- Jeff Flake in Arizona - Chandler Arizona specifically. His number is (202) 225-2635 in DC or (480) 833-0092 in Arizona - Anyone else interested - please call him. Jeff Flake is a conservative but i am not sure why he isn't supporting it.
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