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View Diary: When A Contract Is Not A Contract? (15 comments)

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  •  What Congress is desperate to maintain is the (2+ / 0-)
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    CentralCoaster, Odysseus

    myth that it is not in charge of disbursing dollars, as the Constitution specifies.
    Maintaining this myth is critical because, if they were to admit that disbursing dollars is entirely within their control, they would reveal that they have been depriving the American people of just service for decades -- that they have constructed an elaborate scheme to ration something that is in limitless supply for one purpose and one purpose only, their own power.

    What we are seeing in New Jersey, where the Governor dispenses services to municipalities based on the subservience of their community leaders, is exactly the pattern followed by Congressional incumbents, who reward or penalize the citizenry on the basis of their votes be pretending that the dollars with which they do that are out of their hands.

    And it isn't just one party. Don't forget it was Durbin who said there's nothing to be done on Capitol Hill because "the banks" control the place. That's ludicrous. It may be true now in Europe where the bankers now control the euro (which, tellingly, Switzerland does not participate in), but it isn't true in the U.S. where dollars are issued by the Treasury upon the authorization of the Congress.

    The Federal Reserve pumping dollars into the economy is not working very well because Congress' habit of rationing sets off a hoarding response on Wall Street. So, instead of investing long-term, speculators create bubbles and then, when it seems propitious, they burst them to take their prize.

    Obamacare at your fingertips: 1-800-318-2596; TTY: 1-855-889-4325

    by hannah on Tue Jan 14, 2014 at 07:42:34 AM PST

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