Congressional Supercommittee

[nasa1974]

Super Committee was joke and just pulled the wool over the eyes of Americans to buy more time for the election.

I don't think the supper committee was a joke and it could have worked. The problem was that the committee, just like all of congress, couldn't get past their party bs instead of trying to do what is right for the country. Congress was not set up to be a career, but that is what it has become. I think that's why we need to put in term limits.

 

[James48843]

...Congress was not set up to be a career, but that is what it has become. I think that's why we need to put in term limits.

Unfortunately, term limits don't solve the issue- it makes things worse. They did term limits for my state legislature, and now none of the politicians know what they are doing, so they rely on their special interest think tank guys to tell them what bills to pass. I kid you not. Here is a link- if you read the email, you'll see what I am talking about.
http://www.mea.org/emails-expose-mackinac-centers-true-purpose


I just don't think there is a solution, as long as money plays into the process. Greed - that's the driver.

 

[ILoveTDs]

I think their is a solution. Move the purse string to the states - closer to home, the power is with the purse string. Prior to 1913 the Fed begged the state for funding, now it is the other way around. Were was our national debt in 1900?

If your state had all the say in your taxes, you'd be a lot more interested in your state election then the federal election, you'd have a lot more say in your government as a individual, and if you didn't like it it's easier to move states then it is to move countries.

 

[nnuut]

Is it time to abolish the Federal Reserve Act of 1913?
http://www.investopedia.com/terms/f/1913-federal-reserve-act.asp#axzz1f6vqLKlx

 

[Viva_La_Migra]

Is it time to abolish the Federal Reserve Act of 1913?
http://www.investopedia.com/terms/f/1913-federal-reserve-act.asp#axzz1f6vqLKlx

Sure. Disband the UN while we're at it and end the new world order once and for all.

 

[nnuut]

Sure. Disband the UN while we're at it and end the new world order once and for all.

Good Idea!:laugh:

 

[Warrenlm]

I think their is a solution. Move the purse string to the states - closer to home, the power is with the purse string. Prior to 1913 the Fed begged the state for funding, now it is the other way around. Were was our national debt in 1900?

If your state had all the say in your taxes, you'd be a lot more interested in your state election then the federal election, you'd have a lot more say in your government as a individual, and if you didn't like it it's easier to move states then it is to move countries.

+1 here

 

[nnuut]

Right now the IMF is the one that wants the Good Old USA to help Bail out the EU. The USA contributes 1/3 of the total funds owned by the IMF. this has to be stopped.

 

[RealMoneyIssues]

The fix...would be balancing the budget as quickly as possible.
That quickest solution...will kick in automatically in 13 months. Huge cuts to Medicare and Pentagon, as well as expiration of Bush Tax Cuts.

Which, when we find out in 13 months, won't fix it either...

 

[nnuut]

Funny,

If you read the reasons for establishing the Federal Reserve, was that before 1913 we had incredible instability in our banking system, much, much worse than today.
There were frequent runs on the banks, as people never knew if there money was going to be there.
This Federal Reserve Act of 1913 largely stabalized this, which was listed in the link you provided.

Luckily for us, the crazies who support disbandaning the Fed, are largely seen as..well...crazies. (lol)
However, the main drawback of the Fed is its ability to print money whenever it wants, especially to cover never ending deficits. Its become a bad habit that needs to be fixed.
The fix...would be balancing the budget as quickly as possible.
That quickest solution...will kick in automatically in 13 months. Huge cuts to Medicare and Pentagon, as well as expiration of Bush Tax Cuts.

I just posted a link didn't express my opinion, but do think they have too much power and no effective oversight.:suspicious:

 

[tsptalk]

I'm a big fan of ol' Milton. I recently bought his 1970's PBS series on DVD.

http://www.youtube.com/watch?v=9V5OP-VmXgE

 

[RealMoneyIssues]

Good point.
Maybe the biggest problem is the Fed may not be strong enough. I guess what I mean is that they are too closely linked to whoever is their political appointee at the time.
Because of that...if the gov't in power at the time wants to run huge deficits, the Fed just obliges and prints the money. It would be nice for the Fed to be strong enough to tell any administration, or Congress "Unless its a national Emergency, we cannot print any money unless you come up with a cut in spending in other areas to keep the budget balanced".

Maybe we have some common ground on this philosphy?

Implication of a fourth branch of government... just a little too much power there AND not in the Constitution. Maybe you could support a constitutional amendment?