Inslee Partially to Blame for Wall Street Fiasco!
The recent revelations of the debacle on Wall Street have brought up some very troubling facts. The incumbent, Jay Inslee, has not only taken money directly from Fannie Mae/Freddie Mac and Countrywide Financial, but he has taken a total of $368,450 from financial firms on Wall Street (Link). This is not only unethical, but should be illegal! Now he is going to vote for who gets multi-hundred billion bail-outs for his Wall Street friends some of whom will be given multi million dollar golden parachute bonuses.
This practice of taking PAC money by Inslee is just the opposite of how he would have 1st District constituents believe he votes. Jay Inslee is anything but bi-partisan and anything but for the little guy. He is a continuation of sustaining special interest groups' power in Washington DC.
Larry Ishmael is a developmental economist. He understands what we need to do to turn this economy around and get it moving in the right direction without bailing out greed-hungry Wall Street moguls who could care less about their shareholders or the American people in general. Let us give you some specific examples of what Larry would do for us:
The Federal Government uses a series of tools to micro-manage the US economy. We all know about the Federal Reserve and how they raise interest rates to contract the economy, or, conversely, lower interest rates to expand the economy. But, another way to do it is through the Treasury Department. They increase the supply of printed money to expand the economy and take money out of circulation to contract the economy. Another way is for Congress to use fiscal policy to manage the economy. They use lower taxes and tax incentives to stimulate the economy, while raising taxes to contract the economy.
So, what do you do when faced with the present day conundrum presented by the Wall Street Fiasco? The answer is simple enough for any macro economic 101 student to understand . we need to reduce government spending! How do you do that? Larry Ishmael has been advising foreign governments in this very field and has helped governments reduce government spending by BILLIONS of dollars. The answer is to stop deficit spending now!
Larry has worked with a number of governments to reduce deficit spending, because ever since we moved from the gold standard to a fiat currency we opened Pandora's box. Whenever we need money to run the government or fix problems like the proposed Wall Street bail out, we PRINT more money on our own printing presses. Over time this printing of money dilutes the value of the dollar steadily until it becomes worthless. Meanwhile, we are borrowing from the citizens of the United States and from around the world (China is one of the largest owners of US Treasury Bills) and every time we do it increases the amount of money we owe as a government. With this new bail out plan we will be increasing government's overall debt by approximately 10% and that means a bigger chunk each year of our budget deficit is comprised of interest payments on that debt. Unless we stop this wholesale deficit spending, we all better start learning Mandarin Chinese because they will take over our country when we default if we don't so something NOW!