From YT: Washington D.C. (July 28, 2011) -- Congressman Dennis Kucinich (D-OH) today went to the House floor to outline the simple steps to avoid default and to take America out of debt.
See the video here. The full text of Congressman Kucinich's remarks follow:
"Here is what we should do to avoid default: increase the debt ceiling with no strings attached.
"Here is how to get out of debt- End the war -- save One Trillion over ten years. Repeal tax cuts to the wealthy- Save another trillion.
"Medicare for All: end the four hundred billion yearly subsidies for health insurance industry.
"Renegotiate trade agreements with workers rights, human rights, and environmental quality principles- save millions of jobs and billions of dollars.
"The Fed creates money out of nothing and gives it to banks. Why should our country go into debt, borrowing from banks when we have the constitutional power to create money and invest in jobs?
"We can have another New Deal where we put millions to work rebuilding our bridges and transportation system.
"We can have a Works Green Administration where NASA is the incubator of jobs designing and engineering wind and solar micro technologies for private sector manufacturing, distribution, installation and maintenance in millions of homes, saving money, energy and protecting the environment.
"We are the United States of America, the greatest country on earth. We envision wealth. We don't default. We create wealth. We don't default. We build wealth. We don't default.
7 Comments
nosinetthis jokers lame
garmachiI agree with these ideas, however I don't like it when people throw in the "we are the greatest nation on the earth" rhetorically.
Also, *nochannel
*1sttube
*politics
*worldaffairs
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EMPIREsays...Yeah... that whole "We are the greatest nation on earth" thing, is not only annoying, it's a complete lie.
MarineGunrockWanna eliminate the deficit?
Buffet said: “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection." BAM Deficit gone.
http://www.mediaite.com/tv/warren-buffett-tells-cnbc-i-could-end-the-deficit-in-five-minutes/
Winstonfield_Pennypackersays...I heartily endorse the Buffett plan, not the Kuchinich plan.
Here's another approach...
1. An immediate freeze on all goverment spending at current levels.
2. A TWO year (not TEN) roll-back of federal spending to 2008 budget levels.
3. Immediate passage of a balanced budget ammendment that requires spending beyond the 2008 budget levels to be matched by IMMEDIATE (not 10 year) cuts from other federal spending.
4. All future federal budgets require a 2/3 majority in the house, a 2/3 majority in the Senate, a Presidential signature, AND ratification by 2/3 of all states in a voter referendum. If no budget passes, spending stays at 2008 levels.
5. Obamacare repealed.
soulmonarchRousing speech.
But I do take exception to the fact that he said that Congress can create money. This is, in fact, one thing they are forbidden to do. What they can do is sell bonds and securities in order to raise money when there is a shortfall, which is why they need the FED.
It doesn't make his general point any less important, but it seems like a very important detail.
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