Donald K. Allen for President

Top of the Week

The Economy
September 29, 2008

Yes, it looks like our economy is on the verge of collapse. How could this country get into a situation like this? Do you think 150 years of revolving Democratic/Republican administrations had anything to do with it? Or were they doing a really good job of running our country and this is just an unfortunate, unforeseen run of bad luck? Do you really think John McCain or Barack Obama can straighten it all out?

Neither Democratic or Republican candidate will have much control over our economy. Our economy is totally in the hands of a private organization that, even though it has the word “Federal” in its name, is totally detached from our government, and therefore, our, control. The Federal Reserve is an organization doomed to fail in time through constant inflation from printing more money to solve the Nation’s financial shortfalls. In doing so, the money in your wallet and pocketbook is worth less, and your buying power decreases. Even though you may get a raise at work, it’s not enough to counter this unseen inflation.

So what does our next President need to do to rescue this country from the insolvency (bankruptcy) that it now faces? Will he actually do what is necessary to save our Nation, or will he continue with the grand plan of the Council on Foreign Relations (CFR) to drive our whipped country into the formation of the North American Union? After all, both candidates are members of the CFR. The solutions are simple, but hard.

Our U.S. Treasury is like a huge bowl full of money. The bowl, however, has become a sieve. In the heyday of the U.S.A., the money was overflowing. Today, there are virtually millions of holes in the sieve, and our economy is hemorrhaging at a fatal rate. We have a trade deficit with China that has multiplied annually by a factor of 3.65 for the past three years, with no stop in sight. That is unsustainable for any economy. Our banks and mortgage companies, with the approval of the R/D Congresses, loaned out money to buy homes with little or no collateral, down payment, or proof of adequate employment. As our government bails out Fanny Mae and Freddie Mac, more holes are formed in the sieve. More major financial institutions are failing and calling on our government, i.e., we the people, for we supposedly “are” the government, to financially back them up. Yes, back up their incredible mismanagement with our tax dollars.

With holes leaking money due military expenses, foreign aid (yes, we still exhibit our generosity in giving to the rest of the world money that we’ve just borrowed from China), Social Security payments, welfare benefits, retirement payments and health care premiums for former members of Congress, and all the rest of the Federal Budget, can you understand why we’re broke? Then there’s the “greatest transfer of wealth” in history from the U.S.A. to the Organization of the Petroleum Exporting Countries (OPEC). That’s not a hole in the sieve, it’s a big tear. Do you believe that things will get worse? Maybe it’s time we all clung to our guns and religion. If this continues, we will be facing chaos and anarchy.

Here’s what needs to be done, right now.

1. Sign the Fair Tax Bill. This will give the entire country an economic boost and the Federal Reserve won’t have to print more money to do it. The Internal Revenue Service will be dissolved, and Americans will save billions annually by not having to pay for tax work.

2. Revoke Most Favored Nation Status with China. They never deserved it in the first place; it was a returned favor given by the Clinton administration.

3. Withdraw from the North American Free Trade Agreement. Also signed as an appeasement by President Clinton and a required step in the plan for a North American Union being promoted by the CFR. Oh, yes, Bill and Hillary are both members of the CFR. So is Vice President Dick Cheney. And Condoleezza Rice. I’ll stop to keep this short.

4. Begin dissolution of the Federal Reserve System. Begin with partial backing of our currency with specie (money in coin or bullion). There is not enough gold and silver in our government’s possession to back all the paper out there.

5. Stop printing money other than replacement of worn-out bills. Maybe not even that.

6. Drill for oil wherever it has been previously located in the U.S.A. and our territorial waters. While that is going on to eventually relieve our dependence on OPEC, pursue all avenues of energy production, from coal, wind, and solar to atomic energy and even tidal/wave energy. Phase out corn-based ethanol production and buy ethanol from South America at a tremendous savings. The prices of many foods will go down.

7. Stop or draw down to zero in three years all government subsidies to production of any commodities or goods.

8. Withdraw security passes from all Congressional lobbyists, political action committees, and other special interest groups. Any American citizen can still exercise their right to an audience with their government representatives with an appointment. This will not help Congresspersons to get reelected, but it will free up time for them to work on their original elected purpose — to legislate. By the way, we should require Congress to work 40 hours a week like the rest of us, with four weeks off a year for vacation (what they now call spending time with their constituents). Maybe that would make government employment less appealing and we could see a more willing turnover in elected officials, as was originally intended. (See 9.)

9. Term limits for Congress. Six years (three terms) for the House of Representatives and 12 years (two terms) for the Senate. It’s blatantly obvious that more time than that running our government doesn’t make them better at it. Someone once said, “Politicians, like diapers, need changing often, and for the same reason."

This means all Americans, except the upper 10 percent, will have to tighten their belts for a spell, maybe several years, in order for our country to get back on its feet. This will require tough decisions from our President, like informing Congress that he will not sign any bill with a single earmark. I would tell Congress to only submit single issue bills, with one purpose and no extraneous, unrelated items, or it will automatically be vetoed. Just stop the extra pork altogether. No, this won’t help them get reelected, but you can be sure they won’t be voted back in office if they let the country fail like they’ve allowed the banks to do.