- Man pleads guilty but mentally ill in 2013 murder
- Telephone, computer network outages at 22 Rockford schools
- Byron native selected as Sailor of the Year for Navy Band Southwest
- Illinois Tollway awards $337 million in contracts, sets budget
- 44 earn bachelor’s degrees at Saint Anthony College of Nursing
- Goodwill opens Donation Express site on Perryville
- Rock Valley College to manage TechWorks program
- University of Illinois at Chicago names chancellor
- Salvation Army to distribute food, toys to nearly 2,000 families
- American Manufacturing Competitiveness Act signed into law
Kucinich has a bill to address the budget
Feb. 13, Speaker John Boehner addressed a letter to President Obama, “[T]o support the creation of private-sector jobs, immediate action is needed to rein in federal spending.”
According to the Economic Policy Institute, John Boehner’s budget would reduce federal deficits by 4 percent while costing 700,000 American jobs. Boehner’s response was, “So be it.”
Both Boehner’s and Obama’s deficit-trimming budgets operate under the same flawed assumption: ultimately the government’s budget must be balanced.
If the federal government originates money, why not print the money to pay the national debt? All non-coin money is loaned into existence by the privately-owned Federal Reserve and banks. Debt-based money cannot pay off the debt.
Fortunately, a member of Congress is taking action. Representative Dennis Kucinich (D-OH) introduced the National Employment Emergency Defense (NEED) Act last December. The bill will:
1. Nationalize the Federal Reserve.
2. Eliminate the banks’ privilege to create money.
3. Spend new money into circulation on a national infrastructure program.
Our inflationary credit money will be replaced by a sound currency. The federal debt will be paid as it comes due. It is change we can believe in. We must support Dennis to make NEED a reality.
From the March 16-22, 2011, issue