On February 8, 2013, Travis Waldron writes on ThinkProgress.org:
Federal spending is scheduled to reach historic lows thanks to the Budget Control Act, which placed caps on spending as part of the deal to raise the debt ceiling in the summer of 2011. Non-defense spending is already 14 percent lower than it has been at any time in the last half-century, and it could go even lower if the so-called “sequester,” a series of automatic budget cuts that will begin to take effect at the beginning of March, is allowed to occur.
The drop in domestic spending has already devastated many programs on which Americans depend. But on March 1, those cuts will get even deeper when the first $85 billion of sequester cuts take effect.
That will have a substantial impact on food safety, education, law enforcement, and safety net programs, according to estimates from Democrats on the House Appropriations Committee. And if the sequester is left in place for the full year, it will cut $1.5 trillion and those effects will only get worse.
Progressive liberals who authored this article argue that the government isn’t spending enough money, and the lack of government spending is contributing to the weak economy and poor job growth.
What is not addressed is that government spending is dependent upon tax extraction and debt. There is no question that government spending is necessary but as a stipulation to that spending must be the requirement that the private sector broaden private, individual ownership in the existing and future companies that will receive the taxpayer-supported monies and contracts. This is what has historically been absent from the conversation and instead welfare, both open and concealed, has benefited private sector companies in the name of JOB CREATION. But what is fundamentally needed is to build an OWNERSHIP CULTURE in which EVERY American has the opportunity to acquire on credit a viable income-producing capital estate and pay for their Super IRA account out of the earnings of the productive capital investments in the economy.
This is a simple concept. It is the fundamental principle of business logic that investments pay for themselves as their earnings are pledged first to pay off expansion loans and once paid for continue to generate earnings for their owners. Of course, there will be business failures and that is why it will be necessary to attach commercial capital credit insurance, backed by government re-insurance (if necessary), to the loan transactions facilitated by banks.
We should make every effort to ensure that the FUTURE economic growth of the American economy is financed such that we are constantly creating new owners and strengthening the capital estates of our under-capatilized citizens. This is the solution to the onslaught of tectonic shifts in the technologies of production, which is destroying or devaluing jobs and free economic growth from the slavery of “past” savings.
A National Right To Capital Ownership Bill that restores the American dream should be advocated by the progressive movement, which addresses the reality of Americans facing job opportunity deterioration and devaluation due to tectonic shifts in the technologies of production.
There is a solution, which will result in double-digit economic growth and simultaneously broaden private, individual ownership so that EVERY American’s income significantly grows, providing the means to support themselves and their families with an affluent lifestyle. The Just Third Way Master Plan for America’s future is published at http://foreconomicjustice.org/?p=5797.
Support the Capital Homestead Act at http://www.cesj.org/homestead/index.htm and http://www.cesj.org/homestead/summary-cha.htm
