The people need more input into the government, which would be available through the internet on a timely basis. The people could ask questions and vote on proposals via the internet, while their chosen representatives implement policy. This idea would take power from the representatives and senators and give it back to the people.
The current indebtedness is the result of short term thinking, rather than attention to long term planning. The eagerness of the moneylenders to finance our wars and bailouts makes me wonder about what is actually going on. I would not want our military to become mercenary under such conditions. They will not be used to protect foreign mining and commercial interests at taxpayer expense on borrowed money from the one being protected. If such be needed, then they provide it for themselves at their own expense. Long term planning indicates the need for a strong military, perhaps with the prospects of peaceful commerce established rather than active hostilities. The people need to vote on the possibilities for peace.
The idea of voting via the internet on important issues like the debt ceiling hike would allow the people to participate actively. Our elected representatives possibly are thinking of campaign donations rather than what is good for the majority of their constituents. Perhaps if their constituents participated in internet voting on specific issues, the politicians might pay attention to the details.
I wonder if they thought about the COLA on Social Security as a curb on excessive inflation as a tool to reduce debt while printing more money. If they remove that curb, the power of the Federal Reserve will be used to increase inflation. You still get the dime, but its only worth a nickel.
New news today states that Standard and Poore's downgraded the USA to AA+, a result of the continuing spiral into debt. Are these the same people who rated the subprime derivatives as excellent investments worthy of pension funds? Yet I assume that certain standards are to be met concerning these ratings, and assuming they are now actually checking for these standards, then the USA can be rated 'dispassionately'. This hassle occurred on Treasury Secretary Geithner's watch and calls for his resignation are surfacing like sharks.
The Tea Party is right about debt and I applaud those leaders who helped bring this problem to national attention. Maybe the downgrade would have alerted the common person but now continued downgrades in the headwind of slowing economic activity could occur. It is obvious that the continued low interest rate touted by the Federal Reserve is having a negative effect on the economy.
This trend of more and more debt will continue until national bankruptcy unless action is taken to prevent further debt. Term limits in the House and Senate are needed, so those elected will be home to face their neighbors instead of appearing as an icon in Washington for us to admire from afar. Elected members should not have the power to borrow without curbs or without a popular vote. They cannot handle the responsibility. We need to change the law in order to save the government.
Perhaps the 1878 mining law needs revision so that some control over our metals assets is retained for the good of the local economies, putting our metals resources out of reach of foreign interests. Metals are the new currency and the USA needs to conserve and control these resources. It is a matter of national security that we preserve our metals supply, because our civilization depends upon them.
My parting cannon shot is over the bow of the warship Derivatives. Tax reform is coming and these 'investments' that do not create jobs but yet reap huge rewards for the lucky gambler should be taxed at a higher rate like 'unearned income' taxed interest payments. Establish lower taxes for interest payments that come from job creating business paybacks. Higher taxes for the parasites gambling among themselves with the money they absorbed during those heady subprime days. Let's get rid of this corruption by voting those responsible for enabling these schemes out of office.
We need a balanced budget amendment that does not allow borrowed money to be counted as income to use to balance the budget. No accounting tricks, just true income and outgo, no more no less. No more Certificates of Participation to avoid bond elections and no more of selling public buildings for ready cash. The public needs to put some controls on these people. They are squandering our future for ephemeral goals.
If the size of government spending has doubled in the last decade, then it is obvious that this increase is not sustainable at this level. Call it the 'Government Bubble'. The last bubble was the 'Housing Bubble' and now government workers are going to be laid off because there isn't enough tax money to keep them all on the payroll. Adding workers and paying them with borrowed money is a bit risky in the real world.
Now is the time to open up private property for small business use. If government has less money to pay inspectors, perhaps restrictions on the use of private property should be lifted in order to assist people in the need to make a living using the property where they live. Current policy requires people to rent storefronts, provide parking and travel distances to work, so encouraging home based businesses and neighborhood walking paths would benefit the development of small business. If your house is along a walking and bicycle path, then you could sell cold drinks and snacks or you could have a snow cone sale or t shirts and hats or carnitas. I think that a license to have a business catering to foot traffic should be nominal. How about a tiny panaderia just down the street? How convenient is that?
Our society is changing and we need to cease the non adaptive behavior of forcing Tucson residents to drive to get food. Locating food sources near the people would cut down on fuel use and would also create a sense of neighborhood and employ people without having to move them across town. Maybe people would walk more.
Our society can change for the better and there is now an opportunity to make some changes using this debt reduction commission to be quickly formed even though they left town. I want to know who is on the commission and I want to know a date for the first meeting. Deadlines need to be met, the USA is now 'downgraded' and the debt continues to rule.
They need to get back to Washington and get back to work.
