The Federal Deficit Myth

OR: We Have the Money to Have Good Things

With tax day just having come and gone like a deadly meteorite with countless annual casualties, now may be a good day to discuss the federal deficit (and national debt), so often mentioned to justify federal budget decisions. In connection with this, here is one of Stephanie Kelton’s best (or so I think) interviews:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “There IS Money For Good Things – Professor Stephanie Kelton”)

Gist: As Stephanie Kelton explains, the federal deficit is created when the federal government spends – say, a $100 billion – but collects only – say, $90 billion – in fees and taxes. The resulting $10 billion red ink of the government is someone else’s black ink. Someone else got $10 billion out of it.

Let’s think this through a little: In our current corrupt system, this “someone” who got the $10 billion black ink is mostly a gang consisting of billionaires and their corporations, banks, Wall Street predators, CEOs, and affiliated millionaire shareholders. So, a growing federal deficit doesn’t mean that we all are sinking as a nation. It merely means that the government-created money was spent but not fully circulated back; and that, as a result of where it was left, some parts of the country rose up while others didn’t. If we raise up those who are already floating high in the clouds, while we leave struggling members of our nation in the dust, that is the real problem.

We therefore shouldn’t worry about the federal deficit but about how we invest and distribute wealth and income. In the most prosperous country in human history, we have the prosperity (measured with money) for good things for us all. Unfortunately, and stupidly, we give way too many of the good things to the robber billionaires. That’s why they fly around the globe in gold-plated cloud castles (made from private jumbo jets), have a luxury mega yachts parked in every major harbor in order to one-up each other, have multiple palaces waiting for each of them in every place they might choose to visit on Earth (most of them standing empty when they choose not to visit), have whole fleets of Rolls-Royce and Lamborghini luxury cars parked in all these palaces, own the best pieces of land on Earth where the rest of us may not “trespass” and can only dream of ever visiting, hold in their possession the factories, offices, hotels, banks, shops, construction and transport companies, and such, where we work and are forced to grovel before them and their managers. It’s also why they can pour money into politics to bring it to heel and make the government serve them instead of its people.

Quote (Kelton answering why people should care): “People should care because … the deficit is normally trotted out by policymakers and pundits and others as the reason that we can’t do more for the economy, more for people who are struggling — saying »Oh we’d love to be able to put more money in education or to deal with infrastructure, but we can’t because of the deficit.« So, … it’s just this impediment to allowing better policy to create programs and lift people up, to allow us to have a safer cleaner more prosperous economy. The deficit [myth] is this barrier that prevents us from getting better economic policy.”

This, indeed, is the true nature of the oh-so-scary federal deficit or the national debt it builds up over the years: it’s nothing more than a lame excuse for the corrupt gangsters at the top to justify their cutting of government programs and redirection of that government money into their own pockets, say when they give themselves huge tax breaks or pump up government military spending (which raises the profits of those billionaires who control the arms industry)… Never ever do we hear claims that our government can’t afford those giant expenditures and revenue cuts. Only when we, the people, whom the government should actually serve, ask for government investment in us (such as our schools, healthcare, transportation, career development, jobs, or to help us climb out of poverty), only then the chorus breaks out with two-faced politicians and media pundits howling about the deficit and asking where the money should come from. It’s so hypocritical that all my life I have marveled at people believing this obvious scam.

By the way, yesterday’s publication on The Revolution Continues has lots of awesome graphic memes.

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Ending Note: It takes me at least 100 hours a month to research and write for this site and work on my book. Please widely share links to these articles or help in other ways, so this work is not for naught. Financial support is really helpful, too! Only together can we change this messed-up world. 🙂

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Video Weekend 04-07-2018, Part B: Jimmy Dore (5 neat videos)

Last weekend, I featured Lee Camp a lot (including a “So, who is Lee?” segment sharing a more personal interview with him). This weekend, a lot of great Jimmy Dore videos piled up, most of which I didn’t have the time to include in yesterday’s video weekend compilation. To repair that, here are the ones I couldn’t include yesterday but would have liked to. They are some of his best. If you missed them during the last few days, I hope you have the time today to watch them. Enjoy! Especially #2 is superb!

 

I. Good one: Behold the lock-step march of the establishment’s propaganda-spewing Big Media monopoly, spiked with their script-reading talking heads (all massively overpaid so they won’t question their treacherous work). Jimmy reminds us how this propaganda army was enabled by Bill Clinton and the neoliberal Fake-Democrats, out to destroy the last vestiges of democracy together with their Republican buddies while pretending to protect it. The work of two corrupt political gangs… pardon me… “parties”:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Sinclair Media Nightmare Made Possible By Clinton & Democrats“)

 

II. Excellent one: Upsetting the apple cart. Tim Canova, who challenged utterly corrupt Debbie Wasserman Schultz in 2016 and – by all appearance – was cheated out of the race with election fraud just like Bernie Sanders, has left the “Democratic” Party to fight Wasserman Schultz from the outside since fighting from the inside was made impossible by the corrupt party bosses. This led to a really cool conversation with Jimmy Dore about our rigged elections (and the Russian phantoms) with some hard facts:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Tim Canova Leaves Democratic Party & Support Increases”)

The point: when retaking democracy from within the “Democratic” Party is impossible (because of systemic criminality in the party leadership), then the fight must be brought from the outside.   Continue reading

A Ludicrous Narrative to Justify Atrocities

Here is the recording of an incredible speech held by one of our political rulers:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Israel Lobby Doesn’t Want Al Jazeera to Spill its Secrets”)

So… according to Chuck Schumer, I could appoint myself dictator of the United States by inventing a religion whose holy book declares me the owner of America. My almighty God gave me the lands of our – uhm, no, my – nation as a gift, and therefore all of you must unquestioningly serve me from now on, accept any kind of horrible treatment I subject you to, allow me to drive you from your homes into exile, and you must not dare to complain because it’s all fair and square and justified by my holy scripture. Done deal. I win. You lost. And all nations of Earth must support me in this.

Makes sense, right?   Continue reading

A Funky Dream (or how the top ‘justifies’ inequality)

Just before awakening the other day, I had an interesting dream. I dreamed that Donald Trump had somehow taken note of me and invited me for a talk with him and one or two others from his circles (probably, but not necessarily, extended family members).

Later, when they were all gone, I had the opportunity to inspect the little room, which was near the entrance through which I had entered Trump’s palace. In three corners I found small cameras which recorded what people were saying and – through advanced artificial intelligence – created a running commentary about the deeper meanings and motivations of the speakers. I wondered if Donald (as he was typically to be called in these familial environments) was receiving this feed in real time during every conference he held, or if he (or some associates or staff of his) checked them out later.

I also found that there were no locked doors anywhere. Many doors were in fact cracked or wide open. I could (and did) venture into the garden (maybe better called a private park) and various other rooms of the palace to find myself socializing with Trump’s extended (think royal) family and other members of the upper class who were spending their days circling through the grounds of the palace to socialize and hobnob with Trump or one another. I even caught a glimpse of The Donald’s bedroom, which was empty at the time.   Continue reading

Video Weekend 03-24-2018 (10 videos & comments)

This weekend’s video compilation covers various areas:

  1. U.S. Barbarity
  2. Voter Manipulation
  3. Economy
  4. Corrupt Politics
  5. Shamestream Media
  6. Change

 

I. U.S. Barbarity

Finalizing the transformation of the U.S. into a country of 100% barbaric brutality:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Bolton Fabricated Lies that Justified War on Iraq “)

Note: Let’s be careful not to make this only about Trump. Reagan invaded Granada. G.H.W. Bush invaded Iraq. Bill Clinton ravaged flourishing Yugoslavia leaving a clutter of tiny, weak, and poor new nations behind. G.W.-Cheney invaded Afghanistan and Iraq (war for oil). Obama expanded our wars and drone-based from-the-sky terrorism on civil populations in many nations (the kind of horror which breeds violent terrorism coming back at us). Trump is just the latest and possible last step. (Let’s see how much our domestic corporate police state brutality, not discussed in this news video, will also be revved up during his tenure.)

 

II. Voter Manipulation

Twitter, Facebook, Cambridge Analytica…

More on political social media abuse, the corrupt government-corporation marriage, etc.:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “‘Pro-Hillary Bots’ Used Twitter Bots on Sanders Supporters | America’s Lawyer on RT America | “)

More confirmation of the Cambridge Analytica Meddling and also an example of how money can mess with integrity. After all, the oligarchs have their paid foot soldiers:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Brittany Kaiser, former Cambridge Analytica director: ‘I voted for Bernie’“)

If you missed them, here are this week’s articles on electoral rigging via Twitter and Facebook:

  1. Corporate Greed Shredding Democracy — Meet the Twitter Bots
  2. The Cambridge Analytica & Facebook Story — (Spying and Electoral Manipulation)

 

III. Economy

Richard Wolff on creating inequality:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Economic Update: Capitalism Breeds Inequality“)

 

Robert Reich on why are we working harder than ever and getting nowhere. It’s the rigged “Political Economy” which structures the market against us.

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Robert Reich, “Saving Capitalism”“)

Gist: The market vs government debate is a distraction. There is no market without a government (that sets and enforces the market rules, like what is legal tender, what is fraud, contract fulfillments, etc.). So, the real question is whether the market-government system (which is the real economy) works for most of us or merely a small number at the top. The other common myth that is utter nonsense is that (in our current system) people get paid what they are worth. Also, trusts and lobbying create behind-the-scenes pre-distributions which shift wealth and income to the top while they raise our living expenses.

Good point: If we give up on politics, we give up on a good nation and world.

 

More government rigging for the Robber Billionaires:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “On Contact: The New Gig Economy with John McDonagh“)

Note: So, New York’s taxis were limited by number to some 13,000 for umpteen years. Then, Uber comes in, promises the regulators comfy kickback jobs on its board, and suddenly 100,000 more taxi-like Uber cars are allowed into the market, and the taxi drivers – whose earnings have been ruined in one fell swoop – get levied an additional congestion tax to penalize them for all the extra cars. Their garages switch from splitting profits with their drivers to charging them a whopping $120 leasing fee each morning, putting them into a hole they must try to dig themselves out of in the next 16 hours or so of uninterrupted work and customer-hunting, while the garage owners income is thereby secured. And, eventually, a taxi driver who can’t take it anymore drives right up to the front of City Hall and blows off his own head with a shotgun. That’s how our rigged market-government economy is screwing workers and coddling the top and their corrupt political handmaidens until life for the rest of us becomes an agonizing ordeal we prefer not to stay in anymore.

 

IV. Corrupt Politics

The GOP raiders and their Dem enablers committing the latest Wall Street deregulation:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Bernie Sanders Cites “Corruption” as Reason for Wall Street Deregulation Push “)

 

Change on the Outside, Continuity on the Inside (the roll-back of Dodd-Frank by a Repucratic-Dempublican alliance):

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Democrat’s Playbook To Sell You Out Revealed “)

 

V. Shamestream Media

Why we need independent media:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Bernie Sanders Calls Out Media’s Obsession with Stormy Daniels Scandal“)

 

VI. Change

An academic analysis of our flawed world and a suggestion for how to fix it:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Is Another World Possible? – Leo Panitch on RAI (4/4) “)

Notes: Living conditions were actually improving during much of the 20th century under a system of capitalism held to certain limits and socially responsible rules by a political upheaval and lingering political awareness of the citizenry. But when these improved lives led to a slothing off of public political awareness and participation, the plutocrats that had been left in their seats of imbalanced power, started rolling back the societal advances so we ended up in our current mess echoing medieval conditions of autocracy and serfdom. Now we need to think about change, fundamental change, so it won’t be rolled back again. Various ideas are being discussed.

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Ending Note: It takes me at least 100 hours a month to research and write for this site and work on my book. Please widely share links to these articles or help in other ways, so this work is not for naught. Donations are really great, too! Thanks. Only together can we change this messed-up world. 🙂

The Cambridge Analytica & Facebook Story — (Spying and Electoral Manipulation)

Let’s have a look at the facts so little reported by the establishment media which prefer to dazzle us with trivial sensationalism, keep important facts from us, and drench us in establishment propaganda.  Continue reading

Corporate Greed Shredding Democracy — Meet the Twitter Bots

Democracy-Dying-By-A-Thousand-Cuts-x600

As to now, I had always thought that twitter bots were the creation of black hat hackers hacking into Twitter. Sadly, the opposite is the case. Once again, it’s corporations gobbling up democracy fro profit.   Continue reading

The True Russiagate

The true Russiagate is not what you have been told. It’s not about a serious threat from without but about a much more dire threat from within.

Even as our country is crumbling before our eyes from boundless inside corruption, we hear almost nothing else on the corporate mass media than Russia hacked our election and Russia gave us Trump.

Overlooked are the facts that our nation has been going down the drain since long before Trump and will continue to do so after Trump unless we, the people, come to our senses and make profound systemic change happen. With our entire establishment burning down our nation for the insurance money, we are long past having to make foreign influence or individual members of the destructive gang our prime concern. The entire house is burning! Take your eyes off that Russian who stands outside holding a match, and call the fire fighters instead!   Continue reading

Jill Stein’s Reality Check on Russiagate, Election Integrity, and More

Here are some very good points made by Jill Stein on matters of the Russiagate witch hunt, the faulty integrity of our elections, and more. I know, her demeanor and bearing (and her doctorate) can turn off some people, as do commonly held opinions that third parties don’t matter (even though third parties have always been the ones to push the people’s agenda, while the mainstream parties have always been the plutocracy’s tool of preventing a people’s democracy), but more people should listen once in a while to what Jill Stein has to say, as she relentlessly advances the issues we need to deal with in public discourse and has been doing so for many years, making her highly experienced and insightful. She is in many ways our female Bernie Sanders.   Continue reading

How the Corporate Media Try to Smear the Champions of the People

Once a media black-out followed by off-hand ridicule (as in the MSM’s war against Bernie Sanders’ early campaign) or the constant repetition of false accusations (like blaming Ralph Nader for G.W. Bush) haven’t worked, the corporate MSM have a two-puch approach to destroy the public reputation of true champions for the people:

  1. First punch: They invite them for an interview in which they lambaste them with unfounded accusations that would make the toughest street fighter speechless (plus: if the interview isn’t live they edit out crucial parts and if it is live they cut off the interviewee whenever he or she is coming for their throats with the truth).
  2. Second punch: After the interview, their allied mass media and lesser establishment media stooges smear the champion as having been crushed in the interview, even though this didn’t happen. They are counting on far too many people — us being so busy surviving — to blindly believe their headlines (as too many of us still do). Let’s hope enough of us are waking up not to let ourselves be played like that anymore.

Here is Jimmy Dore exposing this kind of an attack on Jill Stein, a Green Party candidate who has long been fighting for free College, healthcare for all, and end to U.S.-corporate war profiteering around the world, and an economy that works for everybody; and who is now being smeared as a Russian agent by the establishment media:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Jill Stein Smacks Down MSNBC Host Over Russian Propaganda”)

These attempted character assassinations by the establishment’s mass media are nothing new. Remember how they were blaming Bernie Sanders for Deplorable Trump’s victory over Deplorable Hillary? They have grown quieter around this propaganda line now that the “Democratic” Party finds Bernie a useful sheepdog for herding gullible people back into the sinking “Democratic” Party, but I recall a veritable propaganda frenzy. (apparently being revived now that he is planning to run again in 2020)

The big take-home message of all this is about America’s public enemy #1!   Continue reading