The Republicans in Congress need some fresh ideas for marketing their efforts to reform this program that is headed for a fiscal train wreck. The emotion displayed by most Social Security (SS) recipients needs to be neutralized in a constructive manner in order to have an adult conversation on this topic. Below are several suggestions to aid in this effort.
Common Sense Approach:
This must be the overriding theme to the delivery of the reform proposals. Combine that with stopping the growth of the crushing debt we are leaving for future generations. The term Ponzi scheme should not be used, but the term “pay as you go” should be used to explain why they track then number of workers per retire. Graphics of the change in ratio would be helpful to cement the image into the minds of the electorate.
Balance Sheet:
All current benefit recipients would be mailed a balance sheet showing their total contributions and their benefits paid to date. It may be easier to show contributions on an annual basis as well as benefits paid on an annual basis. My estimates show that current recipients over the age of 78 are well past their breakeven point. This should take a lot of the emotion out of their arguments when they see their own numbers.
Demographics
A visual graph of the live expectancy, retirement age, and birth rate should be used to explain how much things have changed since 1935. By making it visual, it has a better chance at getting through to those that can’t or won’t listen to a bunch of numbers. Most people are visual learners.
Audit All Recipients:
All current benefit recipients would be subject to an audit to confirm that they did indeed contribute the minimum 40 quarters. It might be interesting to see how many are not qualified. Citizenship should be a key part of this audit. This can be sold by the argument that many familiar organizations undergo a periodic audit, from corporations, churches, civic organizations, and even the Body Scouts. This is merely common sense.
Partial Privatization Options:
Make this optional for current recipients and those over 40, but make it mandatory for those under 40. The “partial” amount could be optional as well, anywhere from 30 to 70 percent. Let the individuals pick their own level. In addition, eliminate all SS taxes for all workers born after 01 Jan 2000. Instruct them that they are on their own and that at least 10% of every paycheck should wind up in a 401K or an IRA.
Means Tested
Due to the degree of debt we face, we may want to put this on the table. Why do multi millionaires need to get a SS check each month? This could be used as a bargaining chip as long as the formulae are clearly defined (in less than 200 pages) and explained.
Social Security Disability
Benefits to the recipients of the SS Disability Insurance would also be audited by a third party to ensure all on the take are truly disabled. The rules for declaring someone disabled would need to be shared with the public and then reviewed and reapproved by Congress.
Summary;
The theme of “common sense solutions” needs to be the basis of every interface with the electorate. The audits can be sold as prudent business practices, something that could apply to other areas of government as well. The Republicans must go on offense, but to do so, they need a solid playbook that includes simple graphics that the electorate can comprehend.
The Heritage Foundation has excellent charts that could be used as a basis for many of the graphics.
Show them with the visuals, make it personal with the balance sheet, and manage the program with common sense.
Friday, December 23, 2011
Monday, September 5, 2011
Now it’s the Postal Service
Now the government run U.S. Postal Service (USPS) is on the edge of bankruptcy. And some people want the same government to manage your health care??? The problems with the USPS can be explained in one word: Congress. It appears the “2006 Postal Accountability and Enhancement Act” has further tied the hands of USPS management in addition to meddling of various Congress members that don’t want to close any Post Offices or distribution centers in their districts. For certain the management of the USPS shares a good deal of blame for agreeing to contracts with “no layoff” clauses and far above private sector benefit plans. It appears to be a perfect storm of failure that requires a different response to new realities by all parties: management, the unions, and especially Congress.
The Cato Institute has written several articles outlining changes that would help modernize the USPS, the latest being in their Winter 2011 Journal. The outline below is a brief summary of their work with some additions for consideration by all parties:
1. Renegotiate the labor contracts to bring them in line with private sector in terms of benefit contributions, pay rates, and the elimination of the “no lay off” clauses. Work rules would need to be altered, the unions will need to understand it is not 1957, therefore, their business model must change.
2. Close 25%+/- of the Post Offices and distribution centers and reduce the work force accordingly. Base it on business needs and not whining from members of Congress.
3. Replace many of the Offices with contract postal units in other retail establishments or partner with retailers to provide basic services.
4. Eliminate six day a week delivery and base delivery schedules on population densities. I.E. for areas with less than 50 people per square mile (PPSM) they would get once or twice a week delivery, for areas between 50 and 250 PPSM target three times a week, and for more than 250 PPSM target five times a week. These numbers could be negotiated up or down based on business needs.
5. Cut all Congressional meddling by moving towards privatization over the next 2-5 years. Let the USPS operate like a business, not a government agency with two cinder blocks chained to its ankles. Repeal most, if not all, of the 2006 Postal Accountability and Enhancement Act.
6. Allow the USPS to branch out into other business ventures as foreign postal services have done.
The Cato Journal presents a thorough argument for most of these initiatives. The delivery schedule based on population density is the contribution of this author.
We’ll need to provide some talking points to members of Congress that don’t understand business models, labor costs, and demographics. When their constituents call to complain, they should respond with the question of whether or not they want to pay $3 to mail a letter, or do they want to work with a modern Postal Service at a reasonable rate.
I challenge each of you to count the number of times you actually HAVE to go to a Post Office over the next six months. And if there was a satellite unit in the local Wal-Mart or Supermarket, would that make it more convenient. It’s not 1957 anymore, the USPS needs a different business model and consumers have to accept this reality, or be willing to pay $3 to mail a letter. But most important, Congress needs to get out of the way. They should spend their time on repealing Obamacare.
The Cato Institute has written several articles outlining changes that would help modernize the USPS, the latest being in their Winter 2011 Journal. The outline below is a brief summary of their work with some additions for consideration by all parties:
1. Renegotiate the labor contracts to bring them in line with private sector in terms of benefit contributions, pay rates, and the elimination of the “no lay off” clauses. Work rules would need to be altered, the unions will need to understand it is not 1957, therefore, their business model must change.
2. Close 25%+/- of the Post Offices and distribution centers and reduce the work force accordingly. Base it on business needs and not whining from members of Congress.
3. Replace many of the Offices with contract postal units in other retail establishments or partner with retailers to provide basic services.
4. Eliminate six day a week delivery and base delivery schedules on population densities. I.E. for areas with less than 50 people per square mile (PPSM) they would get once or twice a week delivery, for areas between 50 and 250 PPSM target three times a week, and for more than 250 PPSM target five times a week. These numbers could be negotiated up or down based on business needs.
5. Cut all Congressional meddling by moving towards privatization over the next 2-5 years. Let the USPS operate like a business, not a government agency with two cinder blocks chained to its ankles. Repeal most, if not all, of the 2006 Postal Accountability and Enhancement Act.
6. Allow the USPS to branch out into other business ventures as foreign postal services have done.
The Cato Journal presents a thorough argument for most of these initiatives. The delivery schedule based on population density is the contribution of this author.
We’ll need to provide some talking points to members of Congress that don’t understand business models, labor costs, and demographics. When their constituents call to complain, they should respond with the question of whether or not they want to pay $3 to mail a letter, or do they want to work with a modern Postal Service at a reasonable rate.
I challenge each of you to count the number of times you actually HAVE to go to a Post Office over the next six months. And if there was a satellite unit in the local Wal-Mart or Supermarket, would that make it more convenient. It’s not 1957 anymore, the USPS needs a different business model and consumers have to accept this reality, or be willing to pay $3 to mail a letter. But most important, Congress needs to get out of the way. They should spend their time on repealing Obamacare.
Six Steps to Nowhere
As a student of economics I will argue that the six steps proposed by Gov. Granholm (5 Sept 2011 Press&Argus) are shallow and not based on sound economic principles and will not lead to long lasting (if any) improvement in the job market. Let’s go by the numbers:
#1 Businesses do not respond to one time gimmicks. Most small businesses look 3-5 years into the future to plan. Given the $1.3 Trillion deficit, the overly optimistic expectation of $150 Billion is chump change anyway.
#2 Government programs do not create jobs, small businesses do. Given the failure of public education, I don’t think we want more of the same type of failed programs. We do not need to burden our grandchildren with more debt by spending $228,055 or more to create a single $40,000 a year job. The cost per Stimulus job number is from the CBO.
#3 The concept of an infrastructure bank is just another way to kick the can down the road and burden future generations with more debt.
#4 This one is half right. Lowering the corporate tax rate is a good idea. However, tax cuts do not have to be paid for, unless you consider all money belongs to the state and not the people that earn it. We have a spending problem, not a revenue problem.
#5 Emulating the failed social welfare states of Western Europe is not a viable answer. Plenty of private training schools already exist that can train a motivated individual. And do so at a much lower cost than a government programs.
#6 Clean Energy is not market ready. Can you say Solyndra and the loss of 1100 jobs? Does the loss of $500 Million of taxpayer money mean anything to you? Besides, which article of the Constitution gives the government the right to dictate where my electricity comes from? Does freedom and liberty mean anything to you? Let free markets work.
The only jolt delivered would be to the burden of debt we would place on future generations. The former Governor should simply enjoy her retirement and stop meddling in areas that she does not understand.
#1 Businesses do not respond to one time gimmicks. Most small businesses look 3-5 years into the future to plan. Given the $1.3 Trillion deficit, the overly optimistic expectation of $150 Billion is chump change anyway.
#2 Government programs do not create jobs, small businesses do. Given the failure of public education, I don’t think we want more of the same type of failed programs. We do not need to burden our grandchildren with more debt by spending $228,055 or more to create a single $40,000 a year job. The cost per Stimulus job number is from the CBO.
#3 The concept of an infrastructure bank is just another way to kick the can down the road and burden future generations with more debt.
#4 This one is half right. Lowering the corporate tax rate is a good idea. However, tax cuts do not have to be paid for, unless you consider all money belongs to the state and not the people that earn it. We have a spending problem, not a revenue problem.
#5 Emulating the failed social welfare states of Western Europe is not a viable answer. Plenty of private training schools already exist that can train a motivated individual. And do so at a much lower cost than a government programs.
#6 Clean Energy is not market ready. Can you say Solyndra and the loss of 1100 jobs? Does the loss of $500 Million of taxpayer money mean anything to you? Besides, which article of the Constitution gives the government the right to dictate where my electricity comes from? Does freedom and liberty mean anything to you? Let free markets work.
The only jolt delivered would be to the burden of debt we would place on future generations. The former Governor should simply enjoy her retirement and stop meddling in areas that she does not understand.
Friday, April 29, 2011
The Debt Ceiling, Default, and Reality
The world will not end if Congress refuses to raise the debt ceiling. The United States will not default the morning after the vote not to raise the debt ceiling. Commerce will go on, banks will be open, and the Federal Government will continue to spend like a drunken sailor.
The debt ceiling is an arbitrary number made up by Congress and bureaucrats that do not know how to even balance a checkbook. The limit is no different than a sports fan going into a bar and promising himself that he will have no more than three beers during the Red Wings playoff game. When he gets to the third period he has another two beers. As long as he can pay for them, nothing happens, except that his immaturity and lack of self discipline is on display once again.
One must look closely at those that claim the debt ceiling must be raised, or financial armageddon will occur. These are the same folks that said that the TARP bill had to be passed within 48 hours or the global economy would collapse beyond repair. Please remember that it took Congress almost 30 days to pass TARP, and nothing happen. Also be mindful that those calling for more debt stand to gain the most from prolonging business as usual inside the Beltway. Old line politicians on both sides of the aisle stand to gain much from lobbyists if they can prolong the game. Can America really afford to trust these people again?
The Federal Government will not default immediately. The IRS has a great cash flow situation. The biggest part is payroll taxes that are collected every time that someone gets paid. The next part is quarterly tax payments made by investors and corporations. Essentially, the IRS is raking in the dough almost 24 x 7. They could pay the interest on the debt first each month, then operate the government on what is left over.
Now if Congress doesn’t stop spending like a delirious drunken sailor, they will eventually spend more than they take in and this would lead to default. This is where the reality comes in. We must pressure our public servants in Washington to stop the immoral inter-generational thief and trim spending. Trim as with a Chain Saw and not cuticle scissors. However, this would require elected officials with a spine and principles, I don’t suggest holding one’s breath.
For the sake of the Republic and our children’s children, we must pressure our public servants to stop the inter-generational thief. There is no technical, logical, nor practical reason to raise the debt limit. It would only illustrate the spinelessness and ignorance of our ruling elite yet once again.
The debt ceiling is an arbitrary number made up by Congress and bureaucrats that do not know how to even balance a checkbook. The limit is no different than a sports fan going into a bar and promising himself that he will have no more than three beers during the Red Wings playoff game. When he gets to the third period he has another two beers. As long as he can pay for them, nothing happens, except that his immaturity and lack of self discipline is on display once again.
One must look closely at those that claim the debt ceiling must be raised, or financial armageddon will occur. These are the same folks that said that the TARP bill had to be passed within 48 hours or the global economy would collapse beyond repair. Please remember that it took Congress almost 30 days to pass TARP, and nothing happen. Also be mindful that those calling for more debt stand to gain the most from prolonging business as usual inside the Beltway. Old line politicians on both sides of the aisle stand to gain much from lobbyists if they can prolong the game. Can America really afford to trust these people again?
The Federal Government will not default immediately. The IRS has a great cash flow situation. The biggest part is payroll taxes that are collected every time that someone gets paid. The next part is quarterly tax payments made by investors and corporations. Essentially, the IRS is raking in the dough almost 24 x 7. They could pay the interest on the debt first each month, then operate the government on what is left over.
Now if Congress doesn’t stop spending like a delirious drunken sailor, they will eventually spend more than they take in and this would lead to default. This is where the reality comes in. We must pressure our public servants in Washington to stop the immoral inter-generational thief and trim spending. Trim as with a Chain Saw and not cuticle scissors. However, this would require elected officials with a spine and principles, I don’t suggest holding one’s breath.
For the sake of the Republic and our children’s children, we must pressure our public servants to stop the inter-generational thief. There is no technical, logical, nor practical reason to raise the debt limit. It would only illustrate the spinelessness and ignorance of our ruling elite yet once again.
Gas Prices, Government, and Reality
The rise in gas prices is NOT being caused by speculators nor the greedy oil companies. It is being caused by the Federal Government and the Federal Reserve.
One part is the actions (and inactions) of the Federal Government not to pursue a plan to make America energy independent. The blame can be shared by ALL administrations since the 1970’s when the Energy Department was formed with the goal of energy independence. The moratoriums on drilling in the Gulf of Mexico and off the shore of Alaska are but two of the latest stumbles by the ruling elite. If construction in ANWAR had been started when the reserves were first discovered, the oil would be flowing by now.
These actions and inactions by the Federal Government have not allowed the growth of the domestic oil industry to keep pace with the growth in population and energy demands. It is simply the law of supply and demand. The solution is simple, Drill Baby Drill.
The Federal reserve has a big hand in the increase in price as well, if not the larger hand. Quantitative Easing by the Fed is only the latest action that has put excess dollars into the market. Due to this, the value of the dollar continues to decline, therefore, the oil producers around the world simply demand more dollars for the same barrel of oil. Again, it is simply the law of supply and demand. It is no more complex that to imagine a commodity such as diamonds being increased by 1000 fold on the market. Do you think the value of diamonds would not plummet? The same is true for dollars.
These actions and inactions are being done by people that have a large stake in maintaining the status quo. The reality comes in when the American people realize they are being played by the ruling elite.
For the sake of the Republic and our children’s children, we must pressure our public servants to stop these destructive policies and practices. The alternative is not only serfdom to the ruling elite, but the loss of most of the value of our savings and investments, the value of our homes, and the future prospects for our children.
Time is getting short. We must unite and act against the arrogance of the ruling elite.
One part is the actions (and inactions) of the Federal Government not to pursue a plan to make America energy independent. The blame can be shared by ALL administrations since the 1970’s when the Energy Department was formed with the goal of energy independence. The moratoriums on drilling in the Gulf of Mexico and off the shore of Alaska are but two of the latest stumbles by the ruling elite. If construction in ANWAR had been started when the reserves were first discovered, the oil would be flowing by now.
These actions and inactions by the Federal Government have not allowed the growth of the domestic oil industry to keep pace with the growth in population and energy demands. It is simply the law of supply and demand. The solution is simple, Drill Baby Drill.
The Federal reserve has a big hand in the increase in price as well, if not the larger hand. Quantitative Easing by the Fed is only the latest action that has put excess dollars into the market. Due to this, the value of the dollar continues to decline, therefore, the oil producers around the world simply demand more dollars for the same barrel of oil. Again, it is simply the law of supply and demand. It is no more complex that to imagine a commodity such as diamonds being increased by 1000 fold on the market. Do you think the value of diamonds would not plummet? The same is true for dollars.
These actions and inactions are being done by people that have a large stake in maintaining the status quo. The reality comes in when the American people realize they are being played by the ruling elite.
For the sake of the Republic and our children’s children, we must pressure our public servants to stop these destructive policies and practices. The alternative is not only serfdom to the ruling elite, but the loss of most of the value of our savings and investments, the value of our homes, and the future prospects for our children.
Time is getting short. We must unite and act against the arrogance of the ruling elite.
Tuesday, April 12, 2011
The Arrogance of the Insiders
Roberts: Compounding ignorance with arrogance
By Cokie and Steven Roberts/Syndicated columnists
GHS
Posted Apr 10, 2011 @ 12:21 AM
It has been barely three months since John Boehner became Speaker of the House, but Judson Phillips has already lost patience with him. The founder of Tea Party Nation wrote recently that the speaker "did not get the message" from the last election. "The honeymoon is over," he announced, and Tea Partiers should find a candidate to challenge Boehner in the Republican primary next year.
The speaker's unforgivable sin? He promised to cut $100 billion from this year's budget, but because Democrats control the Senate and the White House, he will fall far short of that goal. The speaker looks "like a fool," says Phillips. But who's the real fool here?
In fairness, not every Tea Party activist agrees with Phillips about ousting Boehner, but his tirade reveals the basic - and possibly fatal - flaw in the party's approach to politics. Tea Partiers simply do not understand how democracy works. And they compound their ignorance with arrogance.
Contrary to their claims, the Tea Party did not "win" the 2010 election. Yes, party activists helped elect 87 Republican House freshmen, and most of them share the Tea Party's fierce hostility toward government. That accomplishment entitles them to an important seat at the decision-making table.
But those freshmen account for only one of five House members. Voters sent another 348 congressmen to Washington as well, and all of them have their own constituencies and interests, priorities and principles. This is a large and diverse country, and no one group or philosophy can dictate how the government operates.
We know, we know. Tea Party types will read those words and say, see, they are written by "Washington insiders" who don't understand "the people." But we've been watching and analyzing politics for close to half a century and experience has taught us a profound truth.
Compromise is not a dirty word. And Boehner is not an infidel for talking to Democrats. Compromise is absolutely essential for democracy to work efficiently. Without it, politics becomes holy war. Republicans and Democrats start acting like Shiites and Sunnis. Washington resembles Baghdad or Kabul.
At its core, this is a pragmatic country that rejects extremes on both sides. In the 2008 election, only one of three voters called themselves conservatives and only one-fifth identified as liberals. The rest, 44 percent, chose the label "moderate," and the latest poll by the Pew Research Center reinforces the country's middle-of-the-road character. While 68 percent of all Tea Party sympathizers said that lawmakers should "stick to their principles" and shut down the government if they don't get their way in budget negotiations, only 36 percent of all voters shared that view - a huge disparity.
History shows clearly: Any faction that tries to defy this moderate impulse is ultimately doomed to failure. That's exactly what happened to the Moral Majority and the Christian Coalition, two movements that entered politics convinced they had a monopoly on truth and wound up isolating themselves in an ideological dead end.
The same problem exists on the left. Some liberals want to emulate Judson Phillips and fire President Obama for failing to keep key campaign promises, such as closing the prison at Guantanamo or enacting a "public option" in his healthcare bill. But like Boehner, Obama could not keep some of his promises because reality prevented him from doing so.
He could not close Gitmo because he had nowhere to put its inmates. He could not pass a public option because he didn't have the votes. But that has not stopped some of his left-wing critics from denouncing him as a traitor.
In the 2012 election, the Tea Party could be the best thing that ever happened to Barack Obama. In early primary states like Iowa and South Carolina, party activists could force Republican candidates to make outlandish promises that play well at Tea Party rallies but cripple the GOP's nominee in the fall election. To make it even worse, Tea Party favorites like Rep. Michele Bachmann could interject their extreme views into early debates and candidate forums, making sure that no one on the platform escapes with a shred of moderation intact.
If Bachmann wants to run in those early primaries, the Democrats should pay her filing fee. And if Judson Phillips wants to come back to Washington and denounce John Boehner as a sellout, the Democrats should pay his bus fare. Better yet, a one-way first-class air ticket so he cannot leave town. They know who the fool is.
Steve and Cokie's new book, "Our Haggadah" (HarperCollins), has just been published. Steve and Cokie Roberts can be contacted by e-mail at stevecokie@gmail.com.
Copyright 2011 The MetroWest Daily News. Some rights reserved
A grass root level response:
The Arrogance of Insiders
Steve and Cokie Roberts are the arrogant ones here. Their 50 years inside the beltway have indeed clouded their ability to reason and understand principles the way ordinary Americans do.
As a Tea Party Patriot, I do not have hostility towards my government. I only want it to operate at a level that does not condone and even demand intergenerational theft. Nor do I want my government to operate with the concept that it is entitled to tell us what to eat, what type of light bulbs to buy, and what type of health insurance we have to purchase.
Is it extreme that I balance my checkbook each month? Is it extreme that I live within my means, and that I save for my own retirement? Is it extreme to ask each level of my government to do the same? Or is a debt for our children's children's of $14,000,000,000,000 extreme?
There is a time and place for compromise on the details, but there is also a time and place for standing on principles. Given the fiscal insanity over the last 50 years, it is time that ordinary Americans demand a little more standing on principles and less compromise with the self appointed ruling elites that got us into this mess.
I guess the ignorance part comes from the fact we refused to read and obey the memo that states we in the country class can never, never question the intentions or actions of the self appointed ruling elites.
By Cokie and Steven Roberts/Syndicated columnists
GHS
Posted Apr 10, 2011 @ 12:21 AM
It has been barely three months since John Boehner became Speaker of the House, but Judson Phillips has already lost patience with him. The founder of Tea Party Nation wrote recently that the speaker "did not get the message" from the last election. "The honeymoon is over," he announced, and Tea Partiers should find a candidate to challenge Boehner in the Republican primary next year.
The speaker's unforgivable sin? He promised to cut $100 billion from this year's budget, but because Democrats control the Senate and the White House, he will fall far short of that goal. The speaker looks "like a fool," says Phillips. But who's the real fool here?
In fairness, not every Tea Party activist agrees with Phillips about ousting Boehner, but his tirade reveals the basic - and possibly fatal - flaw in the party's approach to politics. Tea Partiers simply do not understand how democracy works. And they compound their ignorance with arrogance.
Contrary to their claims, the Tea Party did not "win" the 2010 election. Yes, party activists helped elect 87 Republican House freshmen, and most of them share the Tea Party's fierce hostility toward government. That accomplishment entitles them to an important seat at the decision-making table.
But those freshmen account for only one of five House members. Voters sent another 348 congressmen to Washington as well, and all of them have their own constituencies and interests, priorities and principles. This is a large and diverse country, and no one group or philosophy can dictate how the government operates.
We know, we know. Tea Party types will read those words and say, see, they are written by "Washington insiders" who don't understand "the people." But we've been watching and analyzing politics for close to half a century and experience has taught us a profound truth.
Compromise is not a dirty word. And Boehner is not an infidel for talking to Democrats. Compromise is absolutely essential for democracy to work efficiently. Without it, politics becomes holy war. Republicans and Democrats start acting like Shiites and Sunnis. Washington resembles Baghdad or Kabul.
At its core, this is a pragmatic country that rejects extremes on both sides. In the 2008 election, only one of three voters called themselves conservatives and only one-fifth identified as liberals. The rest, 44 percent, chose the label "moderate," and the latest poll by the Pew Research Center reinforces the country's middle-of-the-road character. While 68 percent of all Tea Party sympathizers said that lawmakers should "stick to their principles" and shut down the government if they don't get their way in budget negotiations, only 36 percent of all voters shared that view - a huge disparity.
History shows clearly: Any faction that tries to defy this moderate impulse is ultimately doomed to failure. That's exactly what happened to the Moral Majority and the Christian Coalition, two movements that entered politics convinced they had a monopoly on truth and wound up isolating themselves in an ideological dead end.
The same problem exists on the left. Some liberals want to emulate Judson Phillips and fire President Obama for failing to keep key campaign promises, such as closing the prison at Guantanamo or enacting a "public option" in his healthcare bill. But like Boehner, Obama could not keep some of his promises because reality prevented him from doing so.
He could not close Gitmo because he had nowhere to put its inmates. He could not pass a public option because he didn't have the votes. But that has not stopped some of his left-wing critics from denouncing him as a traitor.
In the 2012 election, the Tea Party could be the best thing that ever happened to Barack Obama. In early primary states like Iowa and South Carolina, party activists could force Republican candidates to make outlandish promises that play well at Tea Party rallies but cripple the GOP's nominee in the fall election. To make it even worse, Tea Party favorites like Rep. Michele Bachmann could interject their extreme views into early debates and candidate forums, making sure that no one on the platform escapes with a shred of moderation intact.
If Bachmann wants to run in those early primaries, the Democrats should pay her filing fee. And if Judson Phillips wants to come back to Washington and denounce John Boehner as a sellout, the Democrats should pay his bus fare. Better yet, a one-way first-class air ticket so he cannot leave town. They know who the fool is.
Steve and Cokie's new book, "Our Haggadah" (HarperCollins), has just been published. Steve and Cokie Roberts can be contacted by e-mail at stevecokie@gmail.com.
Copyright 2011 The MetroWest Daily News. Some rights reserved
A grass root level response:
The Arrogance of Insiders
Steve and Cokie Roberts are the arrogant ones here. Their 50 years inside the beltway have indeed clouded their ability to reason and understand principles the way ordinary Americans do.
As a Tea Party Patriot, I do not have hostility towards my government. I only want it to operate at a level that does not condone and even demand intergenerational theft. Nor do I want my government to operate with the concept that it is entitled to tell us what to eat, what type of light bulbs to buy, and what type of health insurance we have to purchase.
Is it extreme that I balance my checkbook each month? Is it extreme that I live within my means, and that I save for my own retirement? Is it extreme to ask each level of my government to do the same? Or is a debt for our children's children's of $14,000,000,000,000 extreme?
There is a time and place for compromise on the details, but there is also a time and place for standing on principles. Given the fiscal insanity over the last 50 years, it is time that ordinary Americans demand a little more standing on principles and less compromise with the self appointed ruling elites that got us into this mess.
I guess the ignorance part comes from the fact we refused to read and obey the memo that states we in the country class can never, never question the intentions or actions of the self appointed ruling elites.
Saturday, May 22, 2010
Saturday, April 10, 2010
Common Sense Solutions: Social Security
America has some tough choices to make with respect to Social Security. The current course is unsustainable and is a major unfunded liability. There are straight forward solutions that need to be brought to the table. However, everyone needs to understand that change is necessary and that it could be significant for some. The graphic below shows the size of the unfunded liabilities we are facing. These have not been addressed by our elected officials in Washington, therefore, we need to challenge them to either step aside or actually deal with reality.
Below are my suggestions for addressing this over unfunded liability. They are based on common sense and the reality of the numbers.
- Place Social Security payments on the annual budget. The science of demographics can predict within reason the funds needed based on the age distribution for each year. The Heritage Foundation predicts that the amount of liability is $6.6 Trillion. This is not a small number. We need to be honest with the American people and ourselves. The current situation is like not saving money each month for the rent or mortgage payment. It’s time we own up to reality.
- Scale back payments to Wealthy Retirees. Currently, there are millionaires collecting Social Security checks each month. This is not sustainable. The limit should be set at around $75,000 of combined income per year. A sliding scale could be included down to some level closer to the poverty level for adjusting benefits.
- Audit all those who collect benefits. The audit should identify those who are collecting benefits that have not paid into the system during their working years. These individuals should be terminated from the program. Being $12+ Trillion in debt, we cannot afford to be generous with our great grand children’s tax revenue.
- Adjust the Retirement Age with Life Expectancy. In the 1930s the life expectancy was only around 60 years. Today, the life expectancy is much higher, nearly 80 years. This puts a much greater burden on the program. The retirement age, or age at which full benefits kick in should be adjusted over time. Currently there is token adjustments, but postponing full benefits by only a month or two will not make the system solvent.
- Forbid Congress from spending the Trust Fund for annual budget items. Since the mid 1960s, Congress has been stealing from the trust fund and returning only IOUs. This intergenerational theft has been practiced by both major parties and must be stopped.
- Develop a plan to terminate Social Security for those born after 01 Jan 2001. This program has been a PONZI scheme from the beginning. In a growing economy and population, it was easy to hide this little recognized fact. But today, with a terrible economy and much lower birth rate, the evidence should be clear that the program has been a house of cards from the start. We need to develop a plan, over several decades, to work our way out of this program. See the chart below, if Social Security is not a PONZI scheme, then why would they track this information?
- Replace Social Security with Individual Retirement Accounts (IRA). We need to educate our children that they are responsible for their retirement. Everyone should be guided into an IRA at an early age. Some say this should be mandatory, some say it is an individual responsibility. Either way, we need to ensure that Congress cannot get their hands on the funds.
These are my common sense solutions to actually deal with Social Security in a fair and honest manner. Will this solve the issue completely, I don't think so, but it will be a significant start. Yes, there are some tough choices here, but dealing well with reality is what Manufacturing Engineers do for a living. My thanks to the Heritage Foundation {Heritage.org} for several of these ideas and the informative graphics.
Doing nothing is not an option. Nibbling around the edges is not leadership. It is time for bold actions, not pastel efforts.
Richard Grimes - Revolutionary Conservative March 2010
Saturday, February 6, 2010
12 Items in Response to the Obama Budget
After a hardy laugh at the Messiah's insanity we (thinking Conservatives of principle) would offer the following steps to bring logic and reason to the fiscal and monetary policy of the Federal Government:
1. Reverse budgeting: For FY 2011 we would look at the revenues of FY2009 and select a percentage in the 80 to 90% range based on economic trends. That number would be the budget for FY2011. Not a penny more. Congress and the White House would need to barter on which programs get how much money, but the bottom line is defined. The excess would go towards debt reduction.
2. All items on Budget: Clinton claimed "Budget Surpluses" for many of his years in office, but for each year the National Debt increased. This is due to "OFF Budget Items" such as major entitlements and special items like TARP, the Stimulus bill, etc... This practice must stop. If a publicly traded company did their books like this, someone would go to jail.
3. Earmark Moratorium: A minimum two year suspension of the process of political graft and the rewarding of campaign contributors. Let's see if the country implodes without earmarks.
4. Stop hiding behind the scam of "Mandatory Spending": Who determines what is and is not mandatory spending? Six no-neck guys at Elmo's Bar in Toledo, Ohio, that will knee cap you if you mess with it? Hiding behind this scam is for weak unprincipled politicians that have little courage to do the right thing.
5. 15% cut to ALL Departments: Including Defense and Homeland Security. Start at the top and thin the organizations. Look at the corporate organizations of General Motors and Wal-Mart. One is a bankrupt dinosaur, the other a lean global giant. If we were to eliminate several departments (Energy & Education), the cuts to the others could be less.
6. 25% cut to ALL Entitlement Programs: We're Trillions in debt, everyone is going to have to have skin in the game. If total programs were eliminated, the cuts to others could be reduced.
7. Stop the Presses: Stop the printing of money and either return to a gold standard or pass a Constitutional amendment that allows the M1 money supply to grow no more than 2.5% per year. The goal is stability of the currency. Use the money supply of 2006 as a basis.
8. End Fractional Reserve Banking for demand deposits: Require banks to keep 100% of their demand deposits on hand. The money for loans would come from investment accounts. This could end bank failures and lighten the burden on the taxpayer. It is also the first step to the elimination of the Federal Reserve.
9. Cut Taxes: Eliminate the AMT and death tax. Reduce capital gains and corporate rates to 13% and consider the merits of either a Flat Tax on income or the Fair Tax on consumption. Set a target of deciding on one or the other by Sept 1st.
10. No New Taxes: No new taxes on health insurance, energy use, the color of our cars, the size of our homes, or what we eat.
11. Just Say NO to the Fraud of Climate Crisis: Laugh out loud at the liars and their gullible followers that fear the end is near. Respect for the environment and continuous improvement in the reduction of emissions should be promoted.
12. Reduce Regulations: Government policies should set rules of the game, not micro manage each market. Reduce the compliance costs of all government regulations to aid businesses and job creation.
These items are the foundational elements of sound sustainable fiscal and monetary policy. Any attempt to continue business as usual is a sign of weakness. Intergenerational theft is immoral.
Monday, January 18, 2010
Cap and Trade, Climate Gate, and Freedom
With the debacle of a climate conference in Copenhagen behind us, and more startling revelations about climate scientists fudging the data how could any thinking individual support the Waxman-Markey bill approved in the House and waiting for action in the Senate?
As an engineer that collects, analyses, and presents data to corporate leadership, if one of my team members was found to have manipulated data in the manner of those at NASA and the CRU at the University of East Anglia, they would be out of a job by noon the next day. Even in this age of political correctness and diversity constraints.
These revelations prove to thinking people that the climate scientists behind the United Nations IPCC reports have been lying to push a political agenda. I will back these statements with 25 years of data interpretation experience and a handful of graduate level statistic courses.
Man made climate crisis is nothing more than a phony religion for those too lazy to think.
The narration below is an attempt to provide data and challenge the viewer to think about the agenda of those that are pushing this phony climate crisis. This is really about our freedom from the tyranny of big government.
As an engineer that collects, analyses, and presents data to corporate leadership, if one of my team members was found to have manipulated data in the manner of those at NASA and the CRU at the University of East Anglia, they would be out of a job by noon the next day. Even in this age of political correctness and diversity constraints.
These revelations prove to thinking people that the climate scientists behind the United Nations IPCC reports have been lying to push a political agenda. I will back these statements with 25 years of data interpretation experience and a handful of graduate level statistic courses.
Man made climate crisis is nothing more than a phony religion for those too lazy to think.
The narration below is an attempt to provide data and challenge the viewer to think about the agenda of those that are pushing this phony climate crisis. This is really about our freedom from the tyranny of big government.
Health Care Reform for Thinking People
With all the uproar over the House and Senate bills that will allegedly provide health care and health insurance for all Americans, it's time for a little rationale thought on the subject. The narration below is my attempt to identify the root cause of the issue and propose foundations for a rationale course of action. My 25 years as a professional problem solver in private industry has taught me that you cannot solve a problem until you understand the root cause(s) of the problem. The reason that costs of health care services are raising faster than general inflation is the same reason why health insurance costs are out of reach for the working poor in America. It can be summarized in one sentence: Government interference of the free market forces that work to reduce costs and increase supply in the health care services and insurance markets. The narration below is my attempt to offer ideas for people that want a solution to this mess, not the tyranny of bigger government, less liberty, and less health care services.
Sunday, November 29, 2009
Proposed Content for the Republican Battle plan for 2010
With the national debt in the neighborhood of $12,000,000,000,000 (that's Trillion) it might be wise for the Republican Party to make it clear to the American people how they would address this issue for the 2010 election cycle. Given the fact that they LOST in 2006 AND 2008, it seems something different, rather than business as usual, is in order.
The underlying premise on which this is based is that intergenerational theft is immoral and it is a sign of weakness on several levels. If the Republican party is to regain the trust of the American people, we must be bold and honest.
Therefore, I propose a 12 step program for Republican Congressmen and Senators who seek re-election and for candidates running against incumbents of both parties.
1. Apologize for the Trillion dollars plus of debt created during the Bush years. Admit that it was wrong, and that the Party now understands Basic Economics and the proper role of government to support free market entrepreneurship.
2. Provide acknowledgement to: A.) the voters in California ( May '09 vote on taxes), B.) the entire tea party movement, and C.) the handful of patriots that gathered in Washington D.C. on 12 Sept 09 that we have heard their messages LOUD and CLEAR.
3. Make every Republican Candidate for Congress sign a pledge that they will not vote for a budget that is more than 90% of the revenues taken in two years previous. This means, that the budget for FY2012 would be set at 90% of the revenues collected in FY2010.
4. Create joint House and Senate Solution Groups to review the programs and projects of each cabinet level department with the goal of reducing discretionary expenditures by 40% overall. These groups would update their status monthly to the American people on a collection of linked websites.
5. Create joint House and Senate Solution Groups for each major entitlement program (or mandatory spending program) with the goal of either elimination of the entitlement (corporate welfare, crop subsidies, land bank, etc...), or restructuring the entitlement to be sustainable at current tax rates for the next 50 years. These groups too would report out monthly.
6. Pledge to restructure Medicaid and Medicare to be insurance premium assistance programs instead of fee for service programs. Include a Health Care Spending Account for each recipient to handle the little things.
7. Make every Republican Candidate for Congress sign a pledge to eliminate any and all bureaucracies created by the Health Care bills currently moving through Congress. Replace them with free market solutions that start by divorcing health insurance from employment.
8. Make every Republican Candidate for Congress sign a pledge to put a finite limit on the number of Czars the President is allowed to have (a number very close to zero) and the total number of paid positions the President may appoint. Perhaps an average of the last six administrations, prior to the current one, would be a set of numbers to start with.
9. Make every Republican Candidate for Congress sign a pledge to not vote for any bill that contains any earmarks. The candidates, especially the incumbents, must realize they are not royalty, but merely public servants.
10. Make every Republican Candidate for Congress sign a pledge to cut the strings to Fannie Mae and Freddie Mac and get the government out of the mortgage business.
11. Make every Republican Candidate for Congress sign a pledge to stop all bailouts of private companies and states run by liberal Democrats. Given the fact that the Soviet Union failed, no business on Wall Street is too big to fail, and neither is California.
12. Pledge to reform banking laws that will end the fractional reserve system that leads to bank failures and bailouts by the taxpayer. The goal would be to eliminate any further bailouts of the FDIC program.
These times require bold actions, not pastel efforts. If you want the support of the American people who still love this country, we need to be bold.
The underlying premise on which this is based is that intergenerational theft is immoral and it is a sign of weakness on several levels. If the Republican party is to regain the trust of the American people, we must be bold and honest.
Therefore, I propose a 12 step program for Republican Congressmen and Senators who seek re-election and for candidates running against incumbents of both parties.
1. Apologize for the Trillion dollars plus of debt created during the Bush years. Admit that it was wrong, and that the Party now understands Basic Economics and the proper role of government to support free market entrepreneurship.
2. Provide acknowledgement to: A.) the voters in California ( May '09 vote on taxes), B.) the entire tea party movement, and C.) the handful of patriots that gathered in Washington D.C. on 12 Sept 09 that we have heard their messages LOUD and CLEAR.
3. Make every Republican Candidate for Congress sign a pledge that they will not vote for a budget that is more than 90% of the revenues taken in two years previous. This means, that the budget for FY2012 would be set at 90% of the revenues collected in FY2010.
4. Create joint House and Senate Solution Groups to review the programs and projects of each cabinet level department with the goal of reducing discretionary expenditures by 40% overall. These groups would update their status monthly to the American people on a collection of linked websites.
5. Create joint House and Senate Solution Groups for each major entitlement program (or mandatory spending program) with the goal of either elimination of the entitlement (corporate welfare, crop subsidies, land bank, etc...), or restructuring the entitlement to be sustainable at current tax rates for the next 50 years. These groups too would report out monthly.
6. Pledge to restructure Medicaid and Medicare to be insurance premium assistance programs instead of fee for service programs. Include a Health Care Spending Account for each recipient to handle the little things.
7. Make every Republican Candidate for Congress sign a pledge to eliminate any and all bureaucracies created by the Health Care bills currently moving through Congress. Replace them with free market solutions that start by divorcing health insurance from employment.
8. Make every Republican Candidate for Congress sign a pledge to put a finite limit on the number of Czars the President is allowed to have (a number very close to zero) and the total number of paid positions the President may appoint. Perhaps an average of the last six administrations, prior to the current one, would be a set of numbers to start with.
9. Make every Republican Candidate for Congress sign a pledge to not vote for any bill that contains any earmarks. The candidates, especially the incumbents, must realize they are not royalty, but merely public servants.
10. Make every Republican Candidate for Congress sign a pledge to cut the strings to Fannie Mae and Freddie Mac and get the government out of the mortgage business.
11. Make every Republican Candidate for Congress sign a pledge to stop all bailouts of private companies and states run by liberal Democrats. Given the fact that the Soviet Union failed, no business on Wall Street is too big to fail, and neither is California.
12. Pledge to reform banking laws that will end the fractional reserve system that leads to bank failures and bailouts by the taxpayer. The goal would be to eliminate any further bailouts of the FDIC program.
These times require bold actions, not pastel efforts. If you want the support of the American people who still love this country, we need to be bold.
Sunday, November 8, 2009
Why the George W. Republicans Must Go
Thank you all for your efforts keeping us safe after 9/11, but you botched the second most important role of government, and that is the management of the economy. The tax cuts were nice, but your reckless spending, poor monetary policy, and the senseless bailouts contributed to the economic mess we are in today. Thank you for your service, now make way for real Americans that understand that you must live within a budget, balance your check book, and not attempt to manipulate a free market, even for such noble causes such as home ownership. In addition, your lack of principled leadership opened the door for the Socialist Democrats and their surge to Socialism. There is a better way forward, but it requires men and women of courage, principles, and the willingness to challenge conventional wisdom.
The national debt is now close to $12 Trillion. The Interest alone is one of the largest budget items. This intergenerational theft is immoral to say the least. It is clear evidence of a lack of understanding of the science of economics. Significant cuts need to be made to reduce federal spending the 7th edition of the Cato Handbook for Policymakers has some great ideas to start with. We must shrink the size of the Federal Budget by shrinking the size of not only entitlements, but the structure of government as well.
Budgets should be based, not on projections, but by looking back at actual revenues. Therefore, the budget for 2102 would be based on the "actual revenues" of 2010. Congress and the administration would need to recognize the number from the Treasury Department and set priorities. The actual target should be 90% of revenues, with the additional 10% used to pay down the debt.
The current monetary policy of expanding the money supply and artificially low interest rates must be recognized as the foundation of boom and bust cycles. We must stop the presses, reform banking laws, and allow interest rates to float due to market forces. One only needs to look to Japan and their attempt to "manage their economy" that has resulted in a 20 year recession. Market forces are comprised of millions of private transactions every day. No amount of central planning, no matter how noble the attempt, can adequately manage an economy for sustained growth. Those that do not understand this should not be in government.
Principled leadership means that it is based on principles that have been tested and tried over time with documented success. It also means not compromising those principles in the name of shallow "bipartisan efforts". How can a Conservative compromise with a Socialist on intergenerational theft? Would a national debt of $5 Trillion be OK in the name of bipartisanship? The desire to "get along" with those who lust after power is merely a sign of weakness. It is this weakness that lead to the defeats of 2006 and 2008.
The way forward is to educate ourselves and the American people on free market solutions based on real world experience as an alternative to government dominance and expansion. We must compare and contrast our positions to those of the Socialist Democrats.
Teamwork would also help and is enabled by strong leadership. We need to learn to speak as a single voice of reason in putting forth solution sets for the issues of the day. Not every Republican can be an expert in all areas. We must allow the team members to focus and develop detailed solutions, and then share these solutions among the entire team. To date, I can find only four solution sets: energy, health care, budget, and stimulus at GOP.gov. I believe there are more issues facing our nation. More detail on each should also be included. Ordinary Americans held printed pages of the H.R. 3200 this past August at the robust town hall meetings. I believe, we owe them more details.
This is why the George W. Republicans must go. They have had their chance. This nation needs real people, not professional politicians, that understand economics, teamwork, and making things happen. We need people with a burning desire to stop the surge to socialism.
The national debt is now close to $12 Trillion. The Interest alone is one of the largest budget items. This intergenerational theft is immoral to say the least. It is clear evidence of a lack of understanding of the science of economics. Significant cuts need to be made to reduce federal spending the 7th edition of the Cato Handbook for Policymakers has some great ideas to start with. We must shrink the size of the Federal Budget by shrinking the size of not only entitlements, but the structure of government as well.
Budgets should be based, not on projections, but by looking back at actual revenues. Therefore, the budget for 2102 would be based on the "actual revenues" of 2010. Congress and the administration would need to recognize the number from the Treasury Department and set priorities. The actual target should be 90% of revenues, with the additional 10% used to pay down the debt.
The current monetary policy of expanding the money supply and artificially low interest rates must be recognized as the foundation of boom and bust cycles. We must stop the presses, reform banking laws, and allow interest rates to float due to market forces. One only needs to look to Japan and their attempt to "manage their economy" that has resulted in a 20 year recession. Market forces are comprised of millions of private transactions every day. No amount of central planning, no matter how noble the attempt, can adequately manage an economy for sustained growth. Those that do not understand this should not be in government.
Principled leadership means that it is based on principles that have been tested and tried over time with documented success. It also means not compromising those principles in the name of shallow "bipartisan efforts". How can a Conservative compromise with a Socialist on intergenerational theft? Would a national debt of $5 Trillion be OK in the name of bipartisanship? The desire to "get along" with those who lust after power is merely a sign of weakness. It is this weakness that lead to the defeats of 2006 and 2008.
The way forward is to educate ourselves and the American people on free market solutions based on real world experience as an alternative to government dominance and expansion. We must compare and contrast our positions to those of the Socialist Democrats.
Teamwork would also help and is enabled by strong leadership. We need to learn to speak as a single voice of reason in putting forth solution sets for the issues of the day. Not every Republican can be an expert in all areas. We must allow the team members to focus and develop detailed solutions, and then share these solutions among the entire team. To date, I can find only four solution sets: energy, health care, budget, and stimulus at GOP.gov. I believe there are more issues facing our nation. More detail on each should also be included. Ordinary Americans held printed pages of the H.R. 3200 this past August at the robust town hall meetings. I believe, we owe them more details.
This is why the George W. Republicans must go. They have had their chance. This nation needs real people, not professional politicians, that understand economics, teamwork, and making things happen. We need people with a burning desire to stop the surge to socialism.
Wednesday, October 28, 2009
Why Banks Fail and why the Taxpayer is left holding the IOU
The executive summary of the problem of bank failure can be summed up in a very few words: greed and compliance of politicians
A little Background:
The history of banking goes back to ancient Greece, Egypt, and Rome. Throughout history, banks have failed, pretty much for the same reason. The greed and mismanagement of the owners and the support of politicians (through the creation of central banks).
Two types of Accounts:
There have been successful banks that have lasted for more than 150 years when they have followed basic principles of bank management. The two types of accounts can be described in none Latin terms as deposit accounts and loan accounts.
Deposit accounts can best be described in today's language as the equivalent of a safe deposit box. The owner or depositor retains ownership of the funds and has immediate and full access on demand (during normal business hours). In history these accounts actual cost the depositor money akin to safe deposit box rental today. There was no interest paid on these funds.
The bank held these funds under what is known as 100% reserve. That means if ALL the customers came and ask for their money, all transactions would be covered by funds in the bank's vault.
Loan accounts are similar certificates of deposit. You give the bank use of your money for a fixed period of time and they agree to pay you a set interest rate. This is how banks make their money. They may pay you 4% interest over the year, but they may actually make 6%. You're typically happy with your cut, and the bank takes their cut. There is usually some risk of losing principle with these type of accounts, so buyer beware.
Today's Banks:
Next time you go to your bank, credit union, or savings and loan, ask the manager on duty what their reserve ratio is. Do not be surprised if they tell you a single digit number. This is referred to as the "fractional reserve system". The history of successful banks is built on those banks that have practiced the 100% reserve system and that have kept the two types of accounts separate, not only on paper, but in a physical sense as well.
Why the Taxpayer Gets left holding the bag:
Can you say: FDIC Federal Deposit Insurance Corporation. This is the arm of the federal government that bailouts banks (savings and loans, credit unions, etc...) with your money when the management team losses their hind end with the investments they made with your deposits. The leadership of the failed bank gets to keep their private jets, country club memberships, and million dollar houses, and you the taxpayer gets the bill.
This cozy relationship has come about over the centuries due the that simple fact that politicians have benefited from the banks taking their deposit account funds and loaning them to local government for projects and who knows what else. The political contributions of the banking and financial industries are quite a staggering sum. They tend to donate to both parties, to cover their bases.
What should be done:
Eliminate the FDIC program and tell banks that the leadership is responsible for any and all deposits. Suggest to all depositors, to understand the two types of accounts (deposit and loan) and the costs and potential risks of each. In addition, end the Federal Reserve system of loaning banks money to cover their loses. Hold the officers of the bank personally responsible. In Venice, Italy circa 1450, failed bank officials were hung.
Google the FDIC and add up their bailouts over the last 30 years, warning, it's a big number. It's time to bring some sanity to Washington and stop the inter-generational theft.
A successful representative republican (as outlined in the Constitution) requires an informed citizenry.
A little Background:
The history of banking goes back to ancient Greece, Egypt, and Rome. Throughout history, banks have failed, pretty much for the same reason. The greed and mismanagement of the owners and the support of politicians (through the creation of central banks).
Two types of Accounts:
There have been successful banks that have lasted for more than 150 years when they have followed basic principles of bank management. The two types of accounts can be described in none Latin terms as deposit accounts and loan accounts.
Deposit accounts can best be described in today's language as the equivalent of a safe deposit box. The owner or depositor retains ownership of the funds and has immediate and full access on demand (during normal business hours). In history these accounts actual cost the depositor money akin to safe deposit box rental today. There was no interest paid on these funds.
The bank held these funds under what is known as 100% reserve. That means if ALL the customers came and ask for their money, all transactions would be covered by funds in the bank's vault.
Loan accounts are similar certificates of deposit. You give the bank use of your money for a fixed period of time and they agree to pay you a set interest rate. This is how banks make their money. They may pay you 4% interest over the year, but they may actually make 6%. You're typically happy with your cut, and the bank takes their cut. There is usually some risk of losing principle with these type of accounts, so buyer beware.
Today's Banks:
Next time you go to your bank, credit union, or savings and loan, ask the manager on duty what their reserve ratio is. Do not be surprised if they tell you a single digit number. This is referred to as the "fractional reserve system". The history of successful banks is built on those banks that have practiced the 100% reserve system and that have kept the two types of accounts separate, not only on paper, but in a physical sense as well.
Why the Taxpayer Gets left holding the bag:
Can you say: FDIC Federal Deposit Insurance Corporation. This is the arm of the federal government that bailouts banks (savings and loans, credit unions, etc...) with your money when the management team losses their hind end with the investments they made with your deposits. The leadership of the failed bank gets to keep their private jets, country club memberships, and million dollar houses, and you the taxpayer gets the bill.
This cozy relationship has come about over the centuries due the that simple fact that politicians have benefited from the banks taking their deposit account funds and loaning them to local government for projects and who knows what else. The political contributions of the banking and financial industries are quite a staggering sum. They tend to donate to both parties, to cover their bases.
What should be done:
Eliminate the FDIC program and tell banks that the leadership is responsible for any and all deposits. Suggest to all depositors, to understand the two types of accounts (deposit and loan) and the costs and potential risks of each. In addition, end the Federal Reserve system of loaning banks money to cover their loses. Hold the officers of the bank personally responsible. In Venice, Italy circa 1450, failed bank officials were hung.
Google the FDIC and add up their bailouts over the last 30 years, warning, it's a big number. It's time to bring some sanity to Washington and stop the inter-generational theft.
A successful representative republican (as outlined in the Constitution) requires an informed citizenry.
Saturday, October 24, 2009
A Rebuttal to The American Health Care Solutions Act (H.R. 3713)
The Republicans get part of a viable solution with this latest attempt at an alternative to health insurance reform. This rebuttal is based on the outline posted at the Congressional website of Mike J. Rogers (MI-8) on 02 Oct 09.
I agree that government run health care or anything else (except national defense) is not desired. The bottom line is that real reform is needed, but, we need to deal with the root causes of the issue, not merely dance around the edges. What follows are positive critiques of the posted summary of the bill.
Pre-existing conditions: This should be handled in two ways. For the first 18 months after passage, the no exclusion for pre-existing conditions should be allowed as we transition to individual health insurance as opposed to employer based health insurance. But after the transition period, it would be necessary to allow private companies the right of refusal for those that wait too long to get coverage. Cancellation guidelines should be based on extreme consumer behavior (e.g. repeated drunk driving convictions), or lack of financial responsibility with respect to paying premiums.
Expansion of Federal block grants: The Federal government is $12 Trillion in debt. The last thing we can afford is MORE spending. Unless cuts are made elsewhere (refer to the 7th edition of the Cato Handbook for Policymakers for ideas), we cannot afford additional spending. Assistance to those that cannot afford their own insurance should be limited to Medicaid reformed as suggested below.
Create associations for small businesses: This is the basic premise that all in Government repeatedly miss. One of the root causes of the insurance issue is that for most Americans, health insurance is employment based. It is time to end this practice that became widespread during an earlier Socialist administration during WWII. Average Americans make the necessary decisions on their home, life, and automobile insurance, I am certain that they are competent enough to pick an appropriate health insurance policy. This would allow portability, reduce the burden on businesses large and small, and allow insurance companies to offer a wide variety of consumer based policies.
Allow purchase across state lines: This is on target, but only nibbles at the edge of the issue. According to research at the Heartland Institute, there are over 1900 state laws that negatively impact the free market forces that would dramatically lower costs and prices of not only health insurance, but health care services as well. All these laws need to be reviewed and dealt with in a logical manner. Those in state legislatures and state insurance bureaus need to learn that most Americans do not want nor need them to define the content of their insurance policy. Setting basic content analogous to Personal Liability and Property Destruction for automobile insurance could be agreed to nationwide. The rest of the content should be optional and left to the consumer.
Tort Reform: This part is on target and much needed. Special Medical Courts, Loser Pays, and limits to pain and suffering awards are but a few of the parts of tort reform needed.
Health Savings Accounts: This is one of the best things to come out of the Bush years (after our safety in the war against Islamofacism). Expanding these would help families manage their own health care without the need for government meddling at the state or national level.
Discounts for Healthy behavior: Skip the employers, allow the insurance companies the ability to set rates based on the consumer’s behavior. Analogous to discounts for auto insurance for a good driving record, this is only good business and a foundation to free market capitalism.
Medicare Medicaid Fraud: Reform all government programs from fee for service to insurance premium assistance. This would eliminate 80% of the fraud and make managing the programs much easier. It would also allow market forces to help set prices of services, not bureaucrats in Washington.
“Transparency Portals”: Is this something from Star Trek??? By allowing individuals and families to manage their own insurance without being related to employment, this (whatever it is) becomes unnecessary. Cut the cord to employment based health insurance.
It is time for those in government to realize, that the vast majority of Americans do not need them to “take care of them”. Free markets work, excessive government interference leads to failure. Limited regulation is acceptable, but most don’t need nor want basic decisions made for them by Congress.
Have you seen the approval numbers for Congress lately? Congress needs to stick to the enumerated powers and get those right. And, oh yeah, cut overall spending to 90% of revenues collected in the previous tax year.
I agree that government run health care or anything else (except national defense) is not desired. The bottom line is that real reform is needed, but, we need to deal with the root causes of the issue, not merely dance around the edges. What follows are positive critiques of the posted summary of the bill.
Pre-existing conditions: This should be handled in two ways. For the first 18 months after passage, the no exclusion for pre-existing conditions should be allowed as we transition to individual health insurance as opposed to employer based health insurance. But after the transition period, it would be necessary to allow private companies the right of refusal for those that wait too long to get coverage. Cancellation guidelines should be based on extreme consumer behavior (e.g. repeated drunk driving convictions), or lack of financial responsibility with respect to paying premiums.
Expansion of Federal block grants: The Federal government is $12 Trillion in debt. The last thing we can afford is MORE spending. Unless cuts are made elsewhere (refer to the 7th edition of the Cato Handbook for Policymakers for ideas), we cannot afford additional spending. Assistance to those that cannot afford their own insurance should be limited to Medicaid reformed as suggested below.
Create associations for small businesses: This is the basic premise that all in Government repeatedly miss. One of the root causes of the insurance issue is that for most Americans, health insurance is employment based. It is time to end this practice that became widespread during an earlier Socialist administration during WWII. Average Americans make the necessary decisions on their home, life, and automobile insurance, I am certain that they are competent enough to pick an appropriate health insurance policy. This would allow portability, reduce the burden on businesses large and small, and allow insurance companies to offer a wide variety of consumer based policies.
Allow purchase across state lines: This is on target, but only nibbles at the edge of the issue. According to research at the Heartland Institute, there are over 1900 state laws that negatively impact the free market forces that would dramatically lower costs and prices of not only health insurance, but health care services as well. All these laws need to be reviewed and dealt with in a logical manner. Those in state legislatures and state insurance bureaus need to learn that most Americans do not want nor need them to define the content of their insurance policy. Setting basic content analogous to Personal Liability and Property Destruction for automobile insurance could be agreed to nationwide. The rest of the content should be optional and left to the consumer.
Tort Reform: This part is on target and much needed. Special Medical Courts, Loser Pays, and limits to pain and suffering awards are but a few of the parts of tort reform needed.
Health Savings Accounts: This is one of the best things to come out of the Bush years (after our safety in the war against Islamofacism). Expanding these would help families manage their own health care without the need for government meddling at the state or national level.
Discounts for Healthy behavior: Skip the employers, allow the insurance companies the ability to set rates based on the consumer’s behavior. Analogous to discounts for auto insurance for a good driving record, this is only good business and a foundation to free market capitalism.
Medicare Medicaid Fraud: Reform all government programs from fee for service to insurance premium assistance. This would eliminate 80% of the fraud and make managing the programs much easier. It would also allow market forces to help set prices of services, not bureaucrats in Washington.
“Transparency Portals”: Is this something from Star Trek??? By allowing individuals and families to manage their own insurance without being related to employment, this (whatever it is) becomes unnecessary. Cut the cord to employment based health insurance.
It is time for those in government to realize, that the vast majority of Americans do not need them to “take care of them”. Free markets work, excessive government interference leads to failure. Limited regulation is acceptable, but most don’t need nor want basic decisions made for them by Congress.
Have you seen the approval numbers for Congress lately? Congress needs to stick to the enumerated powers and get those right. And, oh yeah, cut overall spending to 90% of revenues collected in the previous tax year.
Tuesday, September 29, 2009
Getting In Front of the Coming Revolution
We are all aware of the Tea Parties, the 9/12 Movement, and the awakening of the silent majority. All this in response to the far left policies and goals of the Obama administration. However, I have heard reports that Independents are leaving the Obama camp at a high rate, but not necessarily coming into the Republican camp at the same rate. There is even talk on the internet of a third party of Patriots. I believe this would be a disaster for America. The challenge to the Republican Party is to offer these Patriots somewhere to go, and a good reason to bring a lot of their friends.
I will start the discussion with three topics that I believe must be part of the enticement to those of the Patriot mindset and the newly awaken not so silent majority: 1) Honesty, 2) A Contract, and 3) An Action Plan that everyone can participate in.
A Little Honesty:
We must be honest with America and admit that the Republicans in Washington have not been the most fiscally prudent during the Bush years or even earlier. We must take pride in the fact G.W. kept us safe after 9/11, but not much got done on reducing the size and scope of the budget. The chart below from the Heritage Foundation makes my point.
Action Steps for Everyone:
Not everyone can be a policy wonk or party official, but we must engage all whom desire to participate with meaningful activities. Around the election, tasks are easy to find, but even before the season, engaging the Patriots in activities is key to spreading the message. Demonstrations, marches, e-mail blitzes, and the like can be a starting point. The list could be endless.
Summary:
We who care deeply about this country do not want it torn down by the Socialist Democrats. We must unite and utilize this new found energy and forge it into a single team to educate those that remain on the sidelines. Whether you have been active in the Republican party for 25 years or 5 months, we need to do something to get in front of this energy and guide it.
I will start the discussion with three topics that I believe must be part of the enticement to those of the Patriot mindset and the newly awaken not so silent majority: 1) Honesty, 2) A Contract, and 3) An Action Plan that everyone can participate in.
A Little Honesty:
We must be honest with America and admit that the Republicans in Washington have not been the most fiscally prudent during the Bush years or even earlier. We must take pride in the fact G.W. kept us safe after 9/11, but not much got done on reducing the size and scope of the budget. The chart below from the Heritage Foundation makes my point.
We must be honest with the American People and let them know, by strong statements by all party leaders, members, and operatives that we have heard their call for responsible government. A little humble pie goes a long way.
A Contract:
Similar to the effort in the '94 election cycle, a simple 10 - 12 item contract would give the Patriots something to grab onto and say "I stand for this ..." But the plan to implement must also be there. Each element would turn into a Solutions Group and details updated monthly as we challenge our new (and old) members to contribute specific actionable items.
After the election victory, timetables are set, U.S. code to be retired is identified and regular status updates provided. Each element leader would also prepare an educational package for use by each member of the caucus as talking points. Since not every member can be an expert in everything, teamwork is essential.
Linking the web sites to each members Congressional home page is key to having ready access. Blogs to gain input and ideas could also be created to provide Grassroots connectivity.
Similar to the effort in the '94 election cycle, a simple 10 - 12 item contract would give the Patriots something to grab onto and say "I stand for this ..." But the plan to implement must also be there. Each element would turn into a Solutions Group and details updated monthly as we challenge our new (and old) members to contribute specific actionable items.
After the election victory, timetables are set, U.S. code to be retired is identified and regular status updates provided. Each element leader would also prepare an educational package for use by each member of the caucus as talking points. Since not every member can be an expert in everything, teamwork is essential.
Linking the web sites to each members Congressional home page is key to having ready access. Blogs to gain input and ideas could also be created to provide Grassroots connectivity.
Action Steps for Everyone:
Not everyone can be a policy wonk or party official, but we must engage all whom desire to participate with meaningful activities. Around the election, tasks are easy to find, but even before the season, engaging the Patriots in activities is key to spreading the message. Demonstrations, marches, e-mail blitzes, and the like can be a starting point. The list could be endless.
Summary:
We who care deeply about this country do not want it torn down by the Socialist Democrats. We must unite and utilize this new found energy and forge it into a single team to educate those that remain on the sidelines. Whether you have been active in the Republican party for 25 years or 5 months, we need to do something to get in front of this energy and guide it.
We need to do it NOW. I suggest we challenge every county organization in the country to compile ideas and action items for a December '09 launch.
Monday, September 21, 2009
Conservative Contract for America v.2010
Below are my proposals for the Conservative Contract for America for this coming election cycle. The details for each item are found in a companion blog. Below the list are important measures that were overlooked in 1994 with regards to implementation.
- Firm support of our Military to win the War with Islamofacism
- Base foreign policy on the Peace Through Strength philosophy
- Cut Government spending at all levels and reduce taxes
- Create a Monetary Policy that greatly reduces the boom and bust cycles
- Move towards Energy Independence by exploring all domestic sources
- Secure the nation’s borders and enforce all current immigration laws
- Implement free market solutions to improve health care delivery
- Restructure the education of our youth
- Move Social Security to a market based solution
- Eliminate judicial tenure, and appoint only strict constructionists
- Revamp entitlement programs to support families and offers more than money
- Common sense solutions to protect the environment that does not overburden the economy
Key Factors for Implementation of the Contract
History tells us that the 1994 Contract for America was only marginally implemented. I believe it was the lack of a post election plan that lead to that failure. Below are my suggestions that I will fight for with Republican leadership:
- Each line item becomes a Solutions Group topic supported with caucus members from both the House and the Senate.
- Every Republican is a member of one Solutions Group. The top two leaders in each chamber may be excused.
- Each Solutions Group is charged with monthly updates to be posted on a web site as *.pdf files for review.
- The key focus within the first 100 days is to identify the specific legislative changes required to implement the plank. Identifying which sections of the US code that need to be eliminated will be a large part of the activity.
- By the end of the first 100 days, a detailed time table will be established for each plank based on the scope of each project.
- Every Republican will maintain links on their home page to the work of each Solutions Group to allow their constituents ready access to updates and the opportunity to contribute ideas.
- Each Solutions Group will identify a leader that will be the spokesperson for the caucus on their particular topic.
- Each Solutions Group will include development of educational materials to support the position and made available to each caucus member to be able to persuade the American people on why their path is best for the country.
I believe that these items are what was missing after 1994. These ideas should not be new to anyone who has worked in private industry or run a large project. They are simply the actions of real leadership that will lead to actually solving problems.
Sunday, September 20, 2009
Meaningful Welfare Reform - More than just Money
America is the most generous society on earth in terms of money donated to charitable causes year after year. Whether it be a flood, earthquake, or other disaster, the United States of America is there to offer a helping hand. However, at home, the cost of maintaining individuals and families on welfare year after year is too much a burden for the taxpayer. Therefore, fundamental reform is needed. I offer a concept that will extend the hand of assistance to those in need, but also challenge them to become self sufficient.
The motivation behind these concepts is the underlying premise that life is not fair. Can everyone play basketball at the level of Michael Jordan? Can everyone drive a race car like Jeff Gordon? Can everyone make deals like Donald Trump? Certainly, life is NOT fair, but rather, life is what you make of it. How many hours did Michael Jordan spending playing basketball prior to going pro? How many races did Jeff Gordon not finish on his way to the NASCAR championship? Success requires effort, desire, and a little luck. Life requires effort.
Therefore, the proposal for welfare reform is to help those that seek assistance to understand that they control their future by the amount of effort they are willing to put into their situation. Many people fail because they make poor choices, or in some cases, many poor choices. The heart of any assistance program must be to assist those to learn how to make good choices and to be self sufficient.
Some of the specifics could be:
1. Require all adults on welfare to be enrolled in adult education classes
2. Provide training on making good choices. Not what to choose, but how to weigh the costs and benefits and long and short term consequences of choices.
3. Provide relationship training. How to relate to people in a positive manner, whether it be family, friends, potential employers, or other service providers.
4. Help them to identify and or build support systems within their extended families and communities.
5. Help them learn how to manage their emotions.
6. Teach them the expectations of society at large. They need to know the unspoken rules of society.
7. Challenge them to complete all of the above within a set time frame.
The best resource I have found on this is the work of Dr. Ruby K. Payne, "A framework for Understanding Poverty" 4th edition 2005 aha process inc. Much of the list above comes from the cited work.
Merely handing out money, without support is cruel and cold. If we want to truly assist those in need, we need to understand the entire situation and support in ways that extend beyond financial. A combination of government assistance along with faith based initiatives could be the solution we have been missing to impact much of the poverty in America today.
We need to challenge those that need assistance, but we also need to challenge ourselves to respond to the whole situation with a different perspective.
An Alternative Budget Setting Process
The current level of deficit spending by Congress and the Whitehouse is unsustainable. The massive annual budget deficits only add to the $12+ Trillion national debt. That’s the number 12 with 12 zeros behind. This is what we want to leave for our children’s children? This intergenerational thief is immoral and not the sign of an intelligent society.
What I want to present here is an alternative means for setting spending targets and making decisions about the budget. Currently, Congress and the Whitehouse set their targets on what they think will help them get re-elected and “mandatory spending” programs. The alternative is based on reality and looks back three years and sets the budget on actual revenues. I believe this is a much more prudent means of fiscal responsibility then continuously piling up debt on our children’s children.
In example, say that in 2009 the Federal Government takes in $2.2 Trillion in tax revenues and fees. That would drive the budget in 2012 to be approximately $2.0 Trillion, with approximately 0.2 Trillion to pay down the $12 Trillion debt. The $2,000,000,000,000 number would be hung on the wall and be the ceiling of the budget.
Congress and the Whitehouse would have to proportion the dollars in a way that serves the Taxpayers of the country best. A prioritized list of departments, bureaus, projects, and entitlements along with the dollar amount for each would be published for review by the Taxpayers and voted on in Congress. A running total of the amount would drive a line be drawn on the list (a.k.a. “water line”) when the money runs out. If your project, bureau, or department does not make the list above the line, then there is no funding and you spend no money.
Congress and the Whitehouse would have to make their case to prioritize all programs; Department budgets, pet projects, and entitlements (personal and corporate) would either be above the water line, or get zero funding. This would have to be done each year.
This would necessitate the abandonment of the current fiscal irresponsibility and the ability to hide behind the weak argument of “mandatory spending”. Every program, bureau, and entitlement would need to be reassessed each year. Like families, small business, and private organizations, Congress will be forced to live within a budget set by the American People, not the special interests and campaign contributors.
Intergenerational thief is immoral and not sound economic policy. The insanity must be stopped.
What I want to present here is an alternative means for setting spending targets and making decisions about the budget. Currently, Congress and the Whitehouse set their targets on what they think will help them get re-elected and “mandatory spending” programs. The alternative is based on reality and looks back three years and sets the budget on actual revenues. I believe this is a much more prudent means of fiscal responsibility then continuously piling up debt on our children’s children.
In example, say that in 2009 the Federal Government takes in $2.2 Trillion in tax revenues and fees. That would drive the budget in 2012 to be approximately $2.0 Trillion, with approximately 0.2 Trillion to pay down the $12 Trillion debt. The $2,000,000,000,000 number would be hung on the wall and be the ceiling of the budget.
Congress and the Whitehouse would have to proportion the dollars in a way that serves the Taxpayers of the country best. A prioritized list of departments, bureaus, projects, and entitlements along with the dollar amount for each would be published for review by the Taxpayers and voted on in Congress. A running total of the amount would drive a line be drawn on the list (a.k.a. “water line”) when the money runs out. If your project, bureau, or department does not make the list above the line, then there is no funding and you spend no money.
Congress and the Whitehouse would have to make their case to prioritize all programs; Department budgets, pet projects, and entitlements (personal and corporate) would either be above the water line, or get zero funding. This would have to be done each year.
This would necessitate the abandonment of the current fiscal irresponsibility and the ability to hide behind the weak argument of “mandatory spending”. Every program, bureau, and entitlement would need to be reassessed each year. Like families, small business, and private organizations, Congress will be forced to live within a budget set by the American People, not the special interests and campaign contributors.
Intergenerational thief is immoral and not sound economic policy. The insanity must be stopped.
Saturday, September 19, 2009
Potential Candidate for U.S. Congress: MI-8th
Richard C. Grimes
Howell, Michigan
Potential Candidate for U.S. Congress: MI - 8th District
I am running for Congress to:
Howell, Michigan
Potential Candidate for U.S. Congress: MI - 8th District
I am running for Congress to:
-Identify and help implement free market solutions for issues such as health care, the environment, education, welfare, and the domestic auto industry.
- Cut Federal spending to no more than 95% of the tax revenues collected two years previous.
- Eliminate government programs such as the bailouts of Wall Street, corporate subsidies, and payments to those in this country illegally.
-Stimulate major job growth with Lower Corporate taxes (which are the second highest in the world) and lower Capital Gains taxes, which encourage investment directly and privately into our economy.
Political Theory and Strategy:
Our Country needs new people with real work life experiences that can develop free market solutions and solve problems. We need people that can use life experiences to educate the voting public. We need new people with vision and courage that will challenge the Beltway group think.
My strategy will be to challenge everyone in a constructive manner to think and act differently, to achieve different results. I will challenge all candidates for the House to join with me and create a "Conservative Contract for America" based on timeless principles of individual liberty, balanced spending, self reliance, and limited government.
A New Approach:
Teamwork wins, whether on the sports field, on the manufacturing floor, or in solving issues facing our nation. One of my favorite operating philosophies came from a sportscaster during the Stanley Cup Finals (Professional Ice Hockey): "It is not the team with the best players that typically wins, but the players with the best team".
I have spent 20+ years in the auto industry becoming a proficient problem solver by identifying the root cause of an issue and working with all stake holders to develop an acceptable solution. Structured problem solving is a science that can be applied at all levels, in all areas. The American Society for Quality, of which I am an active member, has expanded from manufacturing to pharmaceuticals, and health care among others.
Combining Teamwork and Structured Problem Solving is the most efficient means for a large organization to make progress. Certainly, there will be disagreements, but by focusing on the issues in a structured manner, the best solutions will rise to the top. I have 20+ years experience of making things happen in exactly this way. This is what I will to take to Congress to serve the people of Michigan.
Work History
More than 20 years in the domestic auto industry, traveling the United States, Canada and Mexico, as a professional problem solver in manufacturing plants. My work was focused on technical and organizational issues at facilities not meeting their quality targets. My job was to understand the issues and challenge the organization in a constructive manner to think and act differently to achieve different results.
Family History
Raised in suburban Detroit and in Howell, MI where my father worked for automotive suppliers. Married in 1980 and adopted two children from Russia in 1996, (the homeland of my father-in-law). Spent three years living and working in Mexico as a problem solver in the auto industry then relocated to our current home in Howell to be close to my elderly parents. Our daughter is a 2009 high school graduate and our son will graduate in 2012.
Education
1973 Graduate of Howell High School
1986 B.S. degree Wayne State Univ. School of Engineering - Chemical Eng.
1988 Graduate of Dale Carnegie courses on interpersonal relations
1992 Master’s Purdue Univ. Quality and Mfg. Sciences
Political Involvement
First got active at the grassroots level in the mid 1990's but had to resign in early 2000 due to relocation to Mexico and extensive traveling. Became active again at the county and district level after the election of Nov. 2008 when the almost constant traveling stop.
Problem Solving Approach Example: The Health Care Crisis:
There are six major players in the Health Care system:
1. The Consumer
2. Health Care Providers
3. The Insurance Industry
4. Employers
5. State Governments
6. The Federal Government
The parties are listed in their relative importance in the role that they should play. Any successful free market solution must look at the interaction of all six groups. The Federal Government has failed at providing efficient health care for the poor and elderly. The States impact price and competition with over 1900 laws governing health insurance.
A free market plan would be to transform health insurance to a consumer directed plan similar to automobile insurance. Everyone has catastrophic coverage, but everything else is optional. States would need to get out of the regulatory business with their community pricing and guaranteed acceptance laws. Employers should also get out of the business and let the people have the tax advantages and make it portable.
The role of the state and federal governments would be limited to helping those with debilitating health issues.
Teamwork and structured problem solving could easily develop a solution that all could support and keep medical decisions in the hands of Americans, not bureaucrats and in addition, drive down costs.
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