- As has been reported, it will only take a single congressperson, acting in what is known as a Jeffersonian Motion, to move to remove the Speaker if he or she goes back on their word or policy agenda.
- A “Church” style committee will be convened to look into the weaponization of the FBI and other government organizations (presumably the CIA, the subject of the original Church Committee) against the American people.
- Term limits will be put up for a vote.
- Bills presented to Congress will be single subject, not omnibus with all the attendant earmarks, and there will be a 72-hour minimum period to read them.
- The Texas Border Plan will be put before Congress. From The Hill: “The four-pronged plan aims to ‘Complete Physical Border Infrastructure,’ ‘Fix Border Enforcement Policies,’ ‘Enforce our Laws in the Interior’ and ‘Target Cartels & Criminal Organizations.'”
- COVID mandates will be ended as will all funding for them, including so-called “emergency funding.”
- Budget bills would stop the endless increases in the debt ceiling and hold the Senate accountable for the same
Zero Hedge
Here Are The Concessions McCarthy Had To Make For SpeakershipTyler Durden
On point 7...
ReplyDeleteDepressions follow federal surpluses (i.e. complete elimination of net federal investment in the economy.)
1804-1812: U. S. Federal Debt reduced 48%. Depression began 1807.
1817-1821: U. S. Federal Debt reduced 29%. Depression began 1819.
1823-1836: U. S. Federal Debt reduced 99%. Depression began 1837.
1852-1857: U. S. Federal Debt reduced 59%. Depression began 1857.
1867-1873: U. S. Federal Debt reduced 27%. Depression began 1873.
1880-1893: U. S. Federal Debt reduced 57%. Depression began 1893.
1920-1930: U. S. Federal Debt reduced 36%. Depression began 1929.
1997-2001: U. S. Federal Debt reduced 15%. Recession began 2001.
Ahmed, would you mind citing your source for this terrific list? I have tremendous use planned.
ReplyDeleteButch Busselle,
ReplyDeletesource: Debt is not debt; deficits are not deficits; the government never borrows; gold never backed the dollar; inflation is not caused by federal spending
Further to my comment, the author of my above quote and following link is Rodger Malcolm Mitchell. He shows up here in the Wikipedia article about Chartalism. He seems closely tied to MMT.
ReplyDeleteModern proponents
See also: Modern Monetary Theory
Economists Warren Mosler, L. Randall Wray, Stephanie Kelton, and Bill Mitchell are largely responsible for reviving chartalism as an explanation of money creation; Wray refers to this revived formulation as Neo-Chartalism.
Mitchell, founder of the Centre of Full Employment and Equity or CofFEE at the University of Newcastle in Australia, coined the term Modern Monetary Theory to describe modern Neo-Chartalism, and that term is now widely used. Scott Fullwiler has added detailed technical analysis of the banking and monetary systems.
Rodger Malcolm Mitchell's book Free Money describes in layman's terms the essence of chartalism.
source: Chartalism
Surpluses USED TO be accrued in the TTL accounts (right side Liabilities
ReplyDelete) at the Depositories so that would REDUCE (A-L)/A so that would depress leverage ratio creating a credit contraction ie slowdown…
Surpluses now accrue to the TGA where they don’t effect Depository regulatory ratios…
ReplyDeleteThis is you guys:
ReplyDelete“Saving is a leakage!”
“The deficit is savings!”
“A balanced budget is a disaster!”
iow:
A=B !
B=C !
But A does not equal C !
Do you know how f-cking stupid you look?????
You’re all morons..,
ReplyDeleteIt's probably time to learn the hard way. Hopefully the Republicans will demand increased taxes and government expenditure reduction to force a balanced budget, and then watch as the overtaxing drives the country into the ground.
ReplyDeleteDepository regulatory ratios are a peculiarly US phenomenon that has little bearing on the system as a whole. At best the concept acts as an accelerant.
ReplyDeleteOnce you remove them it doesn't necessarily mean there is more lending to replace what government is draining. That depends upon whether there is sufficient desire to borrow and sufficient real collateral to back it.
Eventually you end up with the pushing on a string problem.
The whole purpose of 'balanced budgets' is to push more private loans and boost finance industry income. That continues until there is a Minsky Moment. The problem is that there is no structural control mechanism to recover from a Minsky Moment, just a mechanism to cause one.
The dynamic instability happens in the horizontal circuit when people who want to pay off loans can't get enough circulation to do so - due to excess saving that can now only come from the horizontal circuit.
These “concessions” are mere theatre. Nothing will change.
ReplyDelete[1] It will only take a single congressperson to move to remove the Speaker if he or she goes back on their word or policy agenda.
Every such motion will be voted against by establishment Republicans and their allies, which is 80% of Republicans.
[2] A “Church” style committee will be convened to look into the weaponization of the FBI and other government organizations against the American people.
These days, “investigative committees” in Congress are mere theatre. Washington is ruled by Democrats and establishment Republicans, all of which are 100% in bed with the CIA and FBI.
[3] Term limits will be put up for a vote.
This will be voted down every time by Democrats, and by establishment Republicans and their allies, which is 80% of all Republicans.
[4] Bills presented to Congress will be single subject, not omnibus with all the attendant earmarks, and there will be a 72-hour minimum period to read them.
I would have to see this happen to ever believe it.
[5] The Texas Border Plan will be put before Congress.
And will be voted down by Democrats and by establishment Republicans and their allies, which is 80% of Republicans.
[6] COVID mandates will be ended as will all funding for them, including so-called “emergency funding.”
I would have to see this to ever believe it. Biden at any time can declare a new “pandemic” hoax and impose all new lockdowns.
[7] Budget bills would stop the endless increases in the debt ceiling and hold the Senate accountable for the same."
This will be voted down every time by Democrats, and by establishment Republicans and their allies, which is 80% of all Republicans.