Devil_rules_in_extremes
02-04-2008, 08:06 PM
I wanted to share this with you all. I recently wrote my Representative and Two Senators about the dollar crisis and dieing economy. I just got an E-mail from one of my Senators (Democrat Sherrod Brown-OH) in response. I think it's a pretty lame letter because he fails to mention sound money, he fails to respond to legalizing Article 1 Sec. 10 of the constitution, and he doesn't sound AT ALL serious in cutting spending, reforming entitlements, and examining our monetary system. Sen. Brown talks about our deficit with China and foreign financing, but he neglects to acknowledge our current money system allows for such BS to happen. It's probably a form letter, or written by an aid. Booooooo.
I will post the letter I wrote to them, and will follow it up with his response back to me. (I haven't gotten a response back from my other two Congressmen yet):
I am writing to you because I am greatly concerned about an issue that is of great importance and needs to be addressed. We have a dollar crisis in our midst, the economy is declining into a recession and most likely a depression in the long term. The facts are clear. The American economy is on course for a major economic downward spiral and the United States Congress refuses to address the issue. It is clear inflation is far exceeding wages and the cost of goods and services are going up exponentially. Especially in the Medical, Food, and Energy markets. Now this is where the elected officials in Congress refuse to address the real problem. What is the real reason for the complete devaluation of the dollar, especially in the last seven years? Well, its of no coincidence we have outrageous deficit financing going on in the Federal government along with expansion of entitlement spending, and a war alone that has cost the American taxpayer $1 Trillion dollars so far. The Federal government has resorted to deficit spending and borrowing from the Federal Reserve. This has created a glut of paper money and credit, and it’s debasing our currency. This is very tragic, because it is effecting the middle class and the poor the most. The value of the dollar effects our retirement savings, and cost of living expenses. People wonder why we pay so much in gas prices. Well, it’s because your dollar doesn’t buy you as much as it used to. That’s one of the main reasons, along with a few others.
Cost of goods and services are going up. The value of our retirement savings, and homes are going down. United States monetary policy needs to be addressed immediately. Federal government spending MUST be cut, and the practices of the Federal Reserve examined. This issue effects every single American, and will be the defining issue of 2008. Congress must take real action in the form of sound money, low taxes, and low regulation. We need to base our currency on hard assets, Legalize Article 1 Sec. 10 of The Constitution and bring back gold & silver as legal tender. Let it compete as a currency with the Federal Reserve Note. In the long run this will help restore value to American money. This is a very serious issue that deserves your utmost attention. The Congress needs to take the appropriate action in order to stop the bleeding on this dying economy.
America became the greatest, most prosperous nation in human history through low taxes, constitutionally limited government, personal freedom and a belief in sound money. We need to return to these principles.
Thank you for contacting me with your concerns regarding federal fiscal policy.
Under the current administration, our national debt has ballooned from $5 trillion to nearly $9 trillion. Our national deficit is a tremendous problem. Not only is the interest liability a serious impediment to our current economic growth, but we are creating a crippling financial burden for the next generation of Americans. More and more of this debt is being financed abroad.
Furthermore, by running such a deficit we exacerbate our trade problems and give foreign corporations an advantage over American firms. More specifically, the Chinese government has purchased significant amounts of American debt. This artificially props up the value of the American dollar and prevents appreciation of the yuan. This practice ensures that Chinese imports are artificially cheap and our exports expensive. By some estimates, through financing our debt, China effectively creates a 40% discount on products sold in our country.
The 110th Senate has actively worked to combat escalating deficits by reestablishing budget rules in the Fiscal Year 2008 budget resolution. These rules state that any mandatory spending and tax cuts that increase the deficit must be offset by spending cuts or tax increases.
I will fight for economic policies that ensure America’s competitiveness. By adopting responsible fiscal policy and encouraging personal saving, we can reduce the national debt and restore our international strength.
Once again, thank you for contacting my office.
Sincerely,
Sherrod Brown
I will post the letter I wrote to them, and will follow it up with his response back to me. (I haven't gotten a response back from my other two Congressmen yet):
I am writing to you because I am greatly concerned about an issue that is of great importance and needs to be addressed. We have a dollar crisis in our midst, the economy is declining into a recession and most likely a depression in the long term. The facts are clear. The American economy is on course for a major economic downward spiral and the United States Congress refuses to address the issue. It is clear inflation is far exceeding wages and the cost of goods and services are going up exponentially. Especially in the Medical, Food, and Energy markets. Now this is where the elected officials in Congress refuse to address the real problem. What is the real reason for the complete devaluation of the dollar, especially in the last seven years? Well, its of no coincidence we have outrageous deficit financing going on in the Federal government along with expansion of entitlement spending, and a war alone that has cost the American taxpayer $1 Trillion dollars so far. The Federal government has resorted to deficit spending and borrowing from the Federal Reserve. This has created a glut of paper money and credit, and it’s debasing our currency. This is very tragic, because it is effecting the middle class and the poor the most. The value of the dollar effects our retirement savings, and cost of living expenses. People wonder why we pay so much in gas prices. Well, it’s because your dollar doesn’t buy you as much as it used to. That’s one of the main reasons, along with a few others.
Cost of goods and services are going up. The value of our retirement savings, and homes are going down. United States monetary policy needs to be addressed immediately. Federal government spending MUST be cut, and the practices of the Federal Reserve examined. This issue effects every single American, and will be the defining issue of 2008. Congress must take real action in the form of sound money, low taxes, and low regulation. We need to base our currency on hard assets, Legalize Article 1 Sec. 10 of The Constitution and bring back gold & silver as legal tender. Let it compete as a currency with the Federal Reserve Note. In the long run this will help restore value to American money. This is a very serious issue that deserves your utmost attention. The Congress needs to take the appropriate action in order to stop the bleeding on this dying economy.
America became the greatest, most prosperous nation in human history through low taxes, constitutionally limited government, personal freedom and a belief in sound money. We need to return to these principles.
Thank you for contacting me with your concerns regarding federal fiscal policy.
Under the current administration, our national debt has ballooned from $5 trillion to nearly $9 trillion. Our national deficit is a tremendous problem. Not only is the interest liability a serious impediment to our current economic growth, but we are creating a crippling financial burden for the next generation of Americans. More and more of this debt is being financed abroad.
Furthermore, by running such a deficit we exacerbate our trade problems and give foreign corporations an advantage over American firms. More specifically, the Chinese government has purchased significant amounts of American debt. This artificially props up the value of the American dollar and prevents appreciation of the yuan. This practice ensures that Chinese imports are artificially cheap and our exports expensive. By some estimates, through financing our debt, China effectively creates a 40% discount on products sold in our country.
The 110th Senate has actively worked to combat escalating deficits by reestablishing budget rules in the Fiscal Year 2008 budget resolution. These rules state that any mandatory spending and tax cuts that increase the deficit must be offset by spending cuts or tax increases.
I will fight for economic policies that ensure America’s competitiveness. By adopting responsible fiscal policy and encouraging personal saving, we can reduce the national debt and restore our international strength.
Once again, thank you for contacting my office.
Sincerely,
Sherrod Brown