Forum Post: Solution to end the deficit in 5 minutes
Posted 12 years ago on Nov. 2, 2011, 10:45 a.m. EST by equityNhonorNservice
(0)
This content is user submitted and not an official statement
Currently, no measures exist to gauge the performance of Congress.
Solution: Pass a law that says that anytime there is a federal deficit of more than 5% of GDP, all sitting members of Congress are ineligible for re-election.
Laws prevent people from making unethical decisions. Such a law would create minimum performance standards and make unethical desire and greed at the expense of the people, impossible to occur.
The 26th amendment (granting the right to vote at age 18) took only 3 months to be ratified in March of 1971.
Why so quickly? Because THE PEOPLE DEMANDED IT.
Please note that this was before the existence of computers, email, cell phones, etc.
We should ask ourselves: Why would an individual want to spend millions of dollars to campaign for a position that only pays $100k - $200k per year in Congress?
It does not financially add up.
Note, this question may be asked in reference to state and local governments as well.
Serving in Congress is an honor, NOT A CAREER. The Founding Fathers envisioned CITIZEN LEGISLATORS, not career legislators that seek first to enhance their personal interests and riches.
Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and Representatives; and vice versa: Congress shall make no law that applies to the Senators and Representatives that does not apply equally to the citizens of the United States.
The American people did not make contracts with Congressmen (whether a contract is to increase congressional wages each year, or to bailout corporations and banks), rather Congressmen made these contracts with themselves and with the same giant corporations that padded these Congressmen’s (campaign) pockets.
By the time these individuals are elected to government, they are seemingly indebted forever to those who paid to get them elected, making it virtually IMPOSSIBLE to not engage in corrupt decisions for the special interests of the 1%.
The problem with the neo-liberal "Trickle Down" principle of "Reaganomics" is that the $money$ never actually makes it to THE PEOPLE. (see neo-liberal definition below)
So…if our government can pay upwards of $700 Billion to forgive and bail out corporations for making fiscally irresponsible decisions, and banks for making unethical lending practices…
Why can't THE PEOPLE get a bailout instead???
Our current Congressional members should serve their term, then go home and go back to work like the rest of America (if there are even any jobs left for them to go home to after the mess that they have created; and in this event, let them go unemployed and debt ridden like the rest of us).
Please note – I strive to take accountability for my actions, good or bad. Given my current position as a college student in my 20’s, I exist in a world that I have not been alive long enough to be able to claim responsibility for the present state of the global economies that are at the brink of destruction.
Therefore, I DO POINT THE FINGER at the MALFEASANT POLITICIANS and UNSCRUPULOUS CORPORATE BUSINESSMEN that have made the decisions to take advantage of the unfortunate and lead us down this destructive path of greed. (Please also see definitions of malfeasant and unscrupulous below)
What I can claim responsibility for is believing in this movement and asking for change.
WE, THE PEOPLE, MUST DEMAND THESE THINGS in order to work towards change.
MALFEASANT [mal-fee-zuh ns] Noun: Law The performance by a public official of an act that is legally unjustified, harmful, or contrary to law; wrongdoing (used especially of an act in violation of a public trust).
UNSCRUPULOUS [uhn-skroo-pyuh-luh s] Adjective Unprincipled. Lack of moral standards or conscience to guide one's conduct. Without scruples of conscience, and disregards, or has contempt for, laws of right or justice with which he or she is perfectly well acquainted, and which should restrain his or her actions: unscrupulous in methods of making money, in taking advantage of the unfortunate. The unprincipled person is without moral principles or ethical standards in his or her conduct or actions: an unprincipled rogue; unprincipled conduct.
NEOLIBERALISM [nee-oh-lib-er-uh-liz-uh m] noun Seeks to maximize the role of the private/corporate sector to determine the political and economic priorities of the country. Is a label for the market-driven approaches to economic and social policy based on neoclassical theories of economics that stresses the efficiency of private enterprise, liberalized trade and relatively open markets.
The most profitable industries in the world (energy, healthcare, finance) have been given billions in government handouts and tax breaks. Meanwhile, they keep raising charges causing hardship for millions. With all those massive handouts, tax breaks, and obscene charges, profits rise to record high levels. Millions in bonuses are paid to the executives. With record high profits, record high dividends are paid. 40% of all dividends in the United States are paid to the richest one percent. All of this causes a gradual concentration of wealth and income. This results in a net loss for the lower majority who find it more and more difficult to cover the record high cost of living, which again, is directly proportional to record high profits for the rich. As more and more people struggle to make ends meet, more and more financial aid becomes necessary. Most of which goes right back to the health care industry through Medicare, Medicaid, and a very expensive prescription drug plan. This increases government spending. This has been happening for 30 years now. During the same time, tax rates have been lowered drastically for the richest one percent. Especially those who profit from investments. These people pay only 15 percent on capital gains income. As even more wealth concentrates, the lower majority find it more difficult to sustain there share of the consumer driven economy. Demand drops as more and more people go broke. Layoffs results. Unemployment rises. This results in less revenue and more government debt.
Massive subsidies and tax breaks for Wall Street, massive tax breaks for the super rich, heavy concentration of wealth, record high charges along with record high profits and record high cost of living, more hardship for the lower majority, more government spending in the form of financial aid to compensate, more concentration of wealth, less demand, layoffs and unemployment. All of this results in slower economy and less tax revenue. At the same time more and more financial aid becomes necessary. It's a horrible downward cycle which gradually pushes the national debt higher and higher. The other big factors are the wars in the Middle East.
This post is not intended to excuse those who sit on the couch collecting welfare, make no attempt to find work, or squease out kids they can't provide for.
We have been mislead by Reagan, Bush Sr, Clinton, Bush Jr, Obama, and nearly every other public figure. Economic growth, job creation, and actual prosperity are not necessarily a package deal. In fact, the first two are horribly misunderstood. Economic growth/loss (GDP) is little more than a measure of domestic wealth changing hands. A transfer of currency from one party to another. The rate at which it is traded. This was up until mid ’07′ however, has never been a measure of actual prosperity. Neither has job creation. The phrase itself has been thrown around so often, and in such a generic political manner, that it has come to mean nothing. Of course, we need to have certain things done for the benefit of society as a whole. We need farmers, builders, manufacturers, transporters, teachers, cops, firefighters, soldiers, mechanics, sanitation workers, doctors, managers, and visionaries. Their work is vital. I’ll even go out on a limb and say that we need politicians, attorneys, bankers, investors, and entertainers. In order to keep them productive, we must provide reasonable incentives. We need to compensate each by a fair measure for their actual contributions to society. We need to provide a reasonable scale of income opportunity for every independent adult, every provider, and share responsibility for those who have a legitimate need for aid. In order to achieve and sustain this, we must also address the cost of living and the distribution of wealth. Here, we have failed miserably. The majority have already lost their home equity, their financial security, and their relative buying power. The middle class have actually lost much of their ability to make ends meet, re-pay loans, pay taxes, and support their own economy. The lower class have gone nearly bankrupt. In all, its a multi-trillion dollar loss taken over about 30 years. Millions are under the impression that we need to create more jobs simply to provide more opportunity. as if that would solve the problem. It won’t. Not by a longshot. Jobs don’t necessarily create wealth. In fact, they almost never do. For the mostpart, they only transfer wealth from one party to another. A gain here. A loss there. Appreciation in one community. Depreciation in another. In order to create net wealth, you must harvest a new resource or make more efficient use of one. Either way you must have a reliable and ethical system in place to distribute that newly created wealth in order to benefit society as a whole and prevent a lagging downside. The ‘free market’ just doesn’t cut it. Its a farce. Many of the jobs created are nothing but filler. The promises empty. Sure, unemployment reached an all-time low under Bush. GDP reached an all-time high. But those are both shallow and misleading indicators. In order to gauge actual prosperity, you must consider the economy in human terms. As of ’08′ the average American was working more hours than the previous generation with far less equity to show for it. Consumer debt, forclosure, and bankruptcy were also at all-time highs. As of ’08′, every major American city was riddled with depressed communities, neglected neighborhoods, failing infrastructures, lost revenue, and gang activity. All of this has coincided with massive economic growth and job creation. Meanwhile, the rich have been getting richer and richer and richer even after taxes. Our nation’s wealth has been concentrated. Again, this represents a multi-trillion dollar loss taken by the majority. Its an absolute deal breaker. Bottom line: With or without economic growth or job creation, you must have a system in place to prevent too much wealth from being concentrated at the top. Unfortunately, we don’t. Our economy has become nothing but a giant game of Monopoly. The richest one percent of Americans already own 40% of all US wealth. More than double their share before Reagan took office. The lower 80 percent of Americans own less than 10 percent of all US wealth. An all-time low. Still, the rich want more. They absolutely will not stop. Now, our society as a whole is in serious jeapordy. Greed kills.
Those of you who agree on these major issues are welcome to summarize this post, copy it, link to it, save it, show a friend, or spread the word in any fashion. I don't care who takes the credit. We are up against a tiny but very powerful minority who have more influence on the masses than any other group in history. They have the means to reach millions at once with outrageous political and commercial propaganda. Those of us who speak the ugly truth must work incredibly hard just to be heard.