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archived: 16 - 22 Jul, 2006 Back Next
COMMENTS RE: THE IMPENDING BANKRUPTCY
[Authored by Jerry Lobdill*]
Put this
response in the "Mad as Hell, and We're Not Going to Take It any More" or "Sick
and Tired of Republican Lies" file. It would be on topic in either one.
First, anything the Federal Reserve commission is automatically suspect. After
all, these are the guardians of immense wealth and the sentinels of Wall Street.
They don't give a damn about common citizens.
Strike one!
Second, we have got to stop allowing these Republicans to conflate Social
Security with anything else--not the National Debt, not Medicare, not Medicaid,
or anything else. This is abject dishonesty, and it must stop.
Social Security is an insurance program that was designed using the best
principles of demography and actuarial science. The money paid into Social
Security was money earned through the sweat and the creativity of the human
citizens who are the intended beneficiaries of the program. It is not money
loaned by the federal government to fund a disastrous program designed by
Congress. It is a program that is actuarially sound except for the fact that the
federal government under Republican rule does not want to pay back the money it
has borrowed from the beneficiaries. And because the beneficiaries are old
Americans and not the Chinese or one of our other trading partners, Bush wants
to declare Social Security's Treasury bonds worthless while honoring those held
by foreign countries.
The Social Security program was mandated by Congress to invest all its funds in
US Treasury bonds, and what more secure and conservative financial management
decision could ever be imagined? And now Bush has declared that, to his way of
thinking, those T-bills are "just pieces of paper". Now if this actuarially
sound program with the Rock of Gibraltar US T-bills as assets is bankrupt, how
come all other insurance companies with their more risky investments are doing
better? The answer, of course, is that they don't have a crooked debtor trying
to stare them down.
Strike two!
Third, somehow, sensible, sane, responsible leaders of whatever political
leaning need to collar George Bush in private and tell him in no uncertain terms
that this heist he continues to try to pull off won't fly either with the
American people or with the leaders of the rest of the world's nations. No
nation is going to believe that their US Treasury bills are a safe investment
when Bush calls those held by any US creditor "just pieces of
paper".
And this nation has got to stop being the biggest bully in the world and stop
the criminal corruption and cronyism in Washington NOW. If this isn't done
then, yes, it's Strike 3 and we're OUT!
How much insanity are we going to take? By all rights we ought to have two
million people camped on the National Mall in D. C. this very minute demanding
an end to this insane regime and refusing to go home until the deed is done.
I will be ecstatic to be among that crowd of sane and determined citizens. How about you?
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*Jerry Lobdill is a frequent contributor to TPJ.
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A GREAT SITE
[JUNKIE]
Minority Leader Pelosi has created a group of the 10 Democrat member of the House who are under the age of 40. While a small group, they are extremely active, with their own website. In addition, they take to the House floor once a week for an hour with a discussion of issues that will make you proud to be a Democrat.
This is the link to their website:
Check them out; they may well be the future of the Democratic Party in the House.
In addition, they have some of the best posters that you will find anywhere that convey Democratic Party messages. The posters can be downloaded and sent to your friends to make points that Democrats need to be making. Below is one example:
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Great concept to develop new leaders; great website.
Check it out!
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Last Update: 07/23/2006