Are you tired of ..........?xml:namespace>
· Feeling like no one is fighting for working people?
· Ceos taking all our money?
· Corporations shipping our jobs out of the country?
· Companies escaping THEIR tax burden?
· Having no health care?
· Health care costs killing you?
· Making an economic decision to not utilize your Health Care?
· Having no retirement?
· Big business getting so big it seems to control everything?
· Gas prices with record profits for oil companies?
· Your hard work being exploited by a company?
· The banks exploiting the average hard working American?
· Being afraid to ask for a raise?
· The cost of living rising faster than your wages?
· Being laid off?
· Being over qualified for your job because you can't find a better paying one?
· Living pay check to pay check?
· Working in fear?
Thursday, June 23, 2011
Myth: Reducing the deficit is our top priority.
Reality: Deficit payments are upward wealth redistribution.
The hysteria to pay down the rising federal budget deficit comes from profit-hungry banks and billionaire bondholders, not ordinary working people. The federal debt is now over $13.5 trillion. About $4.5 trillion is “inter-governmental loans,” which is a nice way of saying they’ve raided Social Security and Medicare to pay for military spending. Nine trillion dollars is held by private investors - mainly banks and billionaires - looking to get rich off of interest payments. In 2010, U.S. taxpayers paid $415 billion in interest, (U.S. Department of the Treasury, 11/1/10); most of this went to big investors, not to the savings bond grandma gave you for your sixth birthday.
Reality: Deficits are how bankers dismantle democracy.
The big bondholders who own government debt use their economic leverage to override democratic political decisions, threatening to suspend new loans unless governments enact sweeping budget cuts and privatization programs. This method, long used against semi-colonial countries, is now wreaking havoc in Europe. Banks are directly intervening to force savage cuts to pensions, health programs and education in Greece, Ireland, Portugal, Spain and other countries whose ability to repay is in question. In this way, decisions that should be left up to the people in a democracy are hijacked and made by wealthy investors.
Using their control of global credit supplies, the big financial monopolies can demand low taxes, high interest rates and privatization of public assets. They get to pass go and collect twice while working people struggle to get around the board once amid harsh budget cuts and layoffs.