“The president's proposing cuts to Social Security and Medicare has the potential to sap the energy of the Democratic base — among older voters because of Medicare and Medicaid and younger voters because of the lack of jobs,” said Damon A. Silvers, policy director of the A.F.L.-C.I.O. “And second, all these fiscal austerity proposals on the table will make the economy worse.”
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
Guns Or Butter?
by pablo July 30, 2011
Doth Edit the Bard
Destroy It To Save It!
by pablo July 27, 2011
Full Faith and Credit
is Fungible !
by pablo July 24, 2011
by pablo July 22, 2011
Got That Right!
by pablo July 21, 2011
Tom Coburn: President Obama Will Back Down On Budget Bill Veto Threat
On Monday, it was revealed that Rebekah Brooks, who was at the time the editor of The Sun and is now chief executive of News International, the British newspaper division of Rupert Murdoch's News Corporation, had personally phoned Mr. Brown to tell him about The Sun's scoop in October 2006.
Gird your stomachs - I have further information on the Gordon Brown story.
Are you insufficiently repulsed by the Sun's mysteriously-obtained exclusive on Brown's son's cystic fibrosis? Don't worry - like everything about the hacking scandal, there are always more details to emerge to compound the horror. I've been speaking to a source close to Gordon Brown at the time of the story, who recalls that it was served up with a chaser of threat:
"Gordon insisted - despite a heavy brow-beating from Rebekah - that he was not willing to let his son's medical condition be the stuff of a Sun exclusive," recalls this source. "So he put out a statement on PA to spike their scoop and make clear that despite his condition, Fraser was fit and healthy. The Sun were utterly furious, and Brown's communications team were told that if Gordon wanted to get into No 10, he needed to learn that was not how things were done."
Yes, how DARE the then-chancellor refuse to accept that his child's health was not technically a commercial Murdoch property? I'd like to tell you there's a sick bag located in the rear pocket of the seat in front of you. But I'm afraid you're on your own.