The Economics Of Super Congress Essay

1248 words - 5 pages

Ah the Super Congress, it is the last thing you would think of if asking the question what is a congressional committee. One has to wonder what people who make a run for Congress are really thinking. One also has to wonder about the sanity of a government who would appoint six individuals with nary an economics degree among them to decide the financial future of over 300 million people. That is exactly what this so-called Super Congress was appointed to do. Do they have a clue?

If you take a close look at some of the jokers we have in Congress right now you would wonder how they even learned how to run for Congress nonetheless figure out how to do their job of representing the people ...view middle of the document...

It is glaringly obvious that some form of ideological decision was made by S&P that has little to do with economic reality considering that the two other credit agencies have declared they will wait until after the 2012 elections and on into 2013 before making any long-term decisions on American credit worthiness. Despite all the volatile trading on the stock market during the second week of August 2011 very little has really changed concerning the real worth of both America and its potential productive capacity. All the money gained and lost on the trading floor is nothing more than paper. Phantom money that only exists because of an economic trading platform that is highly manipulatable and suffers ups and downs due to the volatile emotional states of trade.

Then you have the gold bugs. Those people who think that we must return to a gold standard to ensure that our economy does not go sinking down the of fiat currency toilet. Let me make this quite clear. The reason fiat currency declines in value are the cause of the decline in trust of the government who issues it. It is quite easy to see why the value of the dollar has declined over the past decade considering the individuals who have been elected to be the leaders of America as well of the actions they have taken. Continuous wars, disregard for the wishes of foreign nation states, unhinged spending on endeavors that have no real benefit to the national economy, foreign trade deregulation that allows massive trade deficits, no protection for labor or primary productive capacity. It is easy to see why the value of America's currency has gone down. If the public's trust that elected leaders will do the right thing for the country does not go up than the fiat currency of America is headed down the same path as that of China's or Rome’s.

The Republicans have made a grandstand in saying that they were not elected to raise taxes were take more money out of the pockets of hard-working families and businesspeople. Nevertheless, their failure to close unfair loopholes in the tax code as well as raise taxes to match the projected increase spending that the expansion of our social safety net has required means that Republicans are taking money out of the pockets of hard-working families and businesspeople. It is estimated for every one dollar put into the Medicare and Medicaid system the overall benefit to the general economy is approximately 4 dollars. Every single dollar that goes into the food stamp system is returned to the agricultural part of the...

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