Wednesday, June 9, 2010
The Federal Gov't is not "out of money!"
The Constitution of the United States grants Congress the power to create money. It does not say that at $13 trillion it has run out.
President Obama was totally irresponsible to make a statement like that.
If private credit is contracting the government MUST create money or there will be economic contraction and a broadening of poverty. This would be an abrogation of the government's responsibility as dictated by the Constitution ("provide for the common defense, promote the general welfare...")
There is an ongoing campaign of distortion, disinformation and outright lies being conducted in America by the media and people with their own cynical agendas. The result is that 15 million people are without work, 1 in 5 children live in poverty and the wealth producing capabilities are left to wither.
A revolt against this propaganda must be organized or the United States will suffer an irrecoverable decline in its standard of living.
Comments like, "the government is out of money" or, "the government can't create wealth" and, "printing money creates inflation," must be forecfully resisted and challenged.
It may already be too late. The campaign of disinformation has gripped the vast majority of the electorate and is pervasive on television and in the media. It is this campaign, which is not based upon any fact or operational reality, that deserves blame for the worsening economic conditions and the spreading of poverty.