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.”

He’s wrong.

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.

Jules Brouillet
Palatine, Ill.

From the March 16-22, 2011, issue

One thought on “Kucinich has a bill to address the budget

  • March 16, 2011 at 8:03 am
    Permalink

    Jules:
    I’m surprised that you can even spell Kucinich.
    You understand about as much economics as a high school graduate from a Rockford High School. Of course economics 101 isn’t taught in Rockford, if it was (205) wouldn’t be in the finical problem they are in.

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