Libertarians to Bernanke: You're wrong

WASHINGTON - Libertarian Party Chair Mark Hinkle issued the following statement today:
"Associated Press reports today that Fed Chairman Ben Bernanke is telling Congress they must not cut federal spending sharply. Chairman Bernanke, you're wrong.

"The federal government is currently spending somewhere around 24% of America's total economic output -- even more if you ignore the government's accounting gimmick of 'offsetting receipts.'

"That's far, far too high. 24% of our economy has been displaced out of the productive private sector into the unproductive government sector. The best thing Congress could do right now is to cut spending sharply. That would be good for both our short-term and long-term economic health.

"Chairman Bernanke does not have a fantastic track record. Under his watch, unemployment has increased dramatically, the Fed has more than tripled the money supply, and inflation is rising.

"Chairman Bernanke, I suggest that you read Frederic Bastiat's excellent essay 'What is seen and what is not seen.' I think it would help you reconsider your devotion to Keynesian economics and broken-window fallacies. Government doesn't create economic activity. The American people do."
For more information, or to arrange an interview, call LP Executive Director Wes Benedict at 202-333-0008 ext. 222.

The LP is America's third-largest political party, founded in 1971. The Libertarian Party stands for free markets, civil liberties, and peace. You can find more information on the Libertarian Party at our website.

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ROOT: Raising Cain 9-9-9 was good ante. Let’s try 0-15-0.

Wayne Allen Root takes Herman Cain's 9-9-9 plan to the next level in his editorial to the Washington Times.

The Looting of America

Throughout her history, the political discussion in America has encompassed a very wide range of issues.  In the last two or three years, however, the discussion has focused on one thing-money.  Whether its the economy, taxes, debt, spending, waste or corruption, it all comes back to money.  One of the primary reasons for this is the unheard of scale of the spending and on what that money is being spent.  Waste measured in millions was bad enough.  Now the graft, corruption, kickbacks and favors are measured in hundreds of billions or even trillions.  We have allowed government to grow so large that the accompanying corruption has become too big to ignore.

     There are two seemingly unrelated stories that illustrate not only the corruption but the reasons for it.  The first is the case of Solyndra.  The basics of this case are as follows.  Solyndra was a solar panel manufacturer hyped by the President as part of his “green energy” initiative that declared bankruptcy earlier this month.  Normally, this wouldn’t have attracted attention beyond Wall Street but in this case, there was half a billion dollars of taxpayer money involved.  Money that is now gone.  Your money.  Five hundred million dollars doesn’t sound like much when we are accustomed to a government in which only amounts over one hundred billion count as real money.  However, what if you, personally, were on the hook for it?  How long would it take you to come up with half a billion dollars?  For the vast, vast majority of us-never.  For an individual in America, a worth of half a billion dollars puts one in the rarefied atmosphere of the “super-rich”.  In most cases, we would have to confiscate the money from all the citizens of whole towns to come up with that kind of money.  Howerver, because it is spread out among all of us, it “only” amounts to about $1.65 for every man, woman and child in America.  $1.65 of your money up in smoke.  Take a dollar out of your wallet and burn it, throw the change down the sewer.  Gone.  (In case that doesn’t get your dander up, “what’s a buck sixty and change?” your personal share of the first stimulus slush fund is over $2300.  Still want to stand there with your wallet and a lighter burning hundred dollar bills?)

    

The Misunderstanding of opposing Subsidizing Extreme Home Makeover

Muir Boda

I think many people misunderstand why there is opposition from many of us who oppose Wicomico County subsidizing the project by Extreme Home Makeover by waving fees, paying overtime to law enforcement and other expenses of the project they requested for no cost by local businesses. I think baseless arguments and finger pointing at the Tea Party and those who oppose Obama has nothing to do with this issue. Saying we are not  “Christian” or are heartless because we do not wish our tax dollars to be used in this manner, again are baseless statements and comments and hold no merit.

First, Extreme Home Makeover is a for profit business. They sell advertising to fund their production and to pay their talent. What they do, I think is a great concept and it has been a very successful show which has led to the indirect success of HGTV. 

I also wish to commend all of the people who donated their time by helping uplift that neighborhood, San Domingo. I do believe this created a sense of volunteerism and tapped into one the greatest assets we have here on the Eastern Shore and that is our willingness to step up to the plate and serve our neighbors and friends when they need it. We saw this with the search for Sarah Foxwell and the outpouring of love to the family of Alice Davis.

The heart of the matter is waving the fees associated with permits and inspections, the waiver of tipping fees and paying law enforcement to work traffic and crowd control around the project. Some say it is worth the price to help the family in need and many on the County Council and in the County Government were quick to waive the fees and get things approved as quickly as possible. Government officials were very quick to cut through red tape so that the project could get underway. 

Yet this is the same County Government that has cut its budget the past couple of years because of decreased revenues. Our board of education is talking of making drastic cuts and changes in our schools because of budget shortfalls. This affects all of our children and families.

This is the hypocrisy many of us are seeing from our elected officials. They nickel and dime everything and then when Hollywood comes calling, they say, “It’s whatever you need.” 

Many have no objection to our tax dollars being used this way because “it’s for a good cause.” They point the finger at many of us who oppose this for not being “Christian” and being heartless. I take exception to that. The Christian thing would have been for all the Churches in the area to help with love offerings to help cover the fees and costs associated with this, not force taxpayers to burden the cost. I did not vote for my elected officials to use my tax dollars or waive fees in this manner.

Charity should be given freely and managed by organizations who do charitable work. For profit businesses should all be treated the same whether they are businesses that provide jobs and sell products or businesses that come into to do “charitable work” but are still businesses for profit.

If someone wants to donate their time, energy and money, I encourage and applaud those people because it is their money that they earned. Tax dollars are everyone’s money and should be used for the basic operations of our government not to grant special favors for pet projects no matter how noble.

Muir Boda

Vice-Chair Maryland Libertarian Party

LP Monday Message: A new year of government spending

October 3, 2011

Dear Friend of Liberty,

The U.S. government's fiscal year ended last Friday. (That was FY 2011.)

Republicans took over the U.S. House last November, and as a result, government spending finally dropped.

Whoops! I have that wrong. Government spending actually increased!

They haven't reported the final numbers yet, but FY 2010 spending was $3.456 trillion, and FY 2011 spending was most recently projected to come in at $3.597 trillion. That's a 4% increase.

Remember, there was no budget passed last year. That means that most of the FY 2011 spending occurred with the approval of the newly elected Republicans. (Remember all those "continuing resolutions"?)

I know, I know. Wait till next year, right?

Even though the press loves to howl about "deep cuts" from Republicans, you and I know there are no such things. Republicans love big government, just like Democrats.

Actually, you could make a case that Democrats are more willing to cut government than Republicans, crazy as that sounds. Many Democrats want to cut military spending -- that's big. But Republicans aren't willing to cut any big-ticket items.

Of course I'm not saying we should trust Democrats to cut government. My point is, Republicans and Democrats are going to keep leapfrogging each other.

Here's how compromise works in Washington: The Democrat says "I want to spend more on program A." The Republican says "I want to spend more on program B." So they compromise, and spend more on both!

The Libertarian Party, on the other hand, will keep fighting to cut government across the board.

Sincerely,

Wes Benedict
Executive Director
Libertarian National Committee

P.S. If you have not already done so, please join the Libertarian Party. We are the only political party dedicated to free markets, civil liberties, and peace. You can also renew your membership. Or, you can make a contribution separate from membership.