I'd like to see a "commonwealth currency" ( backed by local communities
inbsofar as they'd accept it as payment for property taxes ) circulated
in villages, towns, and cities in every State. Something that couldn't
be redeemable for cash/coins, and wouldn't be accepted by banks,
circulating to help lift the USA out of this Depression. It's been found
that every time $1 circulates solely throughout only one community
it doubles in value, and becomes worth $2. to the benefit of all those
who work to produce some good or service. Considering it's value
lies in trust, which is all our financial system is now, it can't fail.
In colonial America you mostly had to live on what you could trade
for or produce in your local community, or do without, unless you were
wealthy and lived in a coastal city which had ties to England. Those
who realized the only way they could prosper was to work for the
common good had the right idea by working for the concept that one
hand washes the other. Once people began trusting bankers to handle
the management of their entire economy too, it all went to hell.

A bubble is only good so long as it keeps on expanding. Once it can't
anymore, it implodes in on itself. If I understand the concept of fiat
money correctly, it was invented to put people to work, because their
work product was a factor of time + essential service, both of which
are finite and inherently valuable. So, like commonwealth currency,
it didn't require a recyclable precious metal commodity backing to work.
The trouble was letting foreigners take control of Americans' business.
Now we have a corrupt system that ceased to work in 1970 when oil
peaked in the USA. The USA was bankrupt then ! We're $14.5 Trillion
behind the 8 ball now. The system will collapse of it's own weight in the
future. Not even light can escape that supermassive black hole debt.

I'd also like to see a voucher system backed by the Government that
will guarantee every citizen a viable future job, and full retirement for
the price of some community service they've invested in their youth.
The laizez faire system we've got now was passe in 1971. Since we've
mapped the human genome, we owe it to society to enable citizens
to see where their genetic strengths & weaknesses lie, so that they
can be helped to live lives avoiding injury, degenerative diseases.
And to promote their creativity. We have a lot of essential serious
problems that need resolving. It won't happen in a society based
on hyperindividualism, isolation,and selfishness, but it will happen
in a society where people are taught community in the 1st grade on.
Because there's no way to pay off the national debt, entrapment that
it is, I believe defaulting on it, renouncing it, and restoring the Treasury
Note system to payroll Americans in Copper Certificates at least may
be a way out. Since the Banksters have diverted our wealth to the
uber rich, and copper nickle is the toy money we're left with, that may
have to suffice until we get an equity based monentary system in place
to replace the moraly bankrupt UnConstitutional system that shitbag
Woodrow Wilson jinxed us with so that Banksters could enslave the
world with their depraved NWO that's a perversion of the masonic idea.

Its time to stop having faith in any currency. Money is crap and it should merely be used to wipe our asses with.

I wonder if anyone said this during the great depression?... meanwhile we are still the largest economy on the planet by a factor of 4, 80 years later.

GOP Greed over Principle.

"Former Treasury Secretary Paul O'Neill was told "deficits don't matter" when he warned of a looming fiscal crisis.
O'Neill, fired in a shakeup of Bush's economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from "the corporate crowd," a key constituency.

O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Cheney told the Treasury secretary he was fired." http://www.ontheissues.org/2004/Dick_Cheney_Budget_+_Economy.htm
................................................................................................

"We got plenty of money in Washington. What we need is more priority."
George W Bush - Washington, D.C., June 2, 2008
...............................................................................................

soooo what does the GOP really intend to do with the resources/money that will be made available from these proposed cuts? start another war? fortify wall street? more tax cuts to the wealthy? how many dictators need help keeping the citizens under control?

given their track record... it sure ain't about the deficit, unless they pay it down just to run it back up again.

this is like quitting your job to save on transportation costs.

It's not a coincidence that many of us are on the same page thinking of this eventual event!

Well writ. I advocate TOTAL DEFAULT,.....with some warning so I have time to stock up on ammunition.

Well we know the best Americans will all get life boats, so no worries... right?

Good post. I agree that with all the talk of cutting debt, the money will simply be transferred elsewhere. If it is being taken from the poor then where else will it go but to the "connected"? I am somewhat relieved that if successful at cutting from the poor and middle class, it will acerbate the sting and likely wake more people up and they will began to seek ways to become active in the state of affairs. The man in the video was interesting as well. I tried to link to a YouTube page for him but was unable to and did not have a moniker that I could search.

I was able to find the speaker, stefbot.

Obama is down with killing off the poor;letting grand Ma free,starve to death.He also is down with cutting programs that are shown to put money into the hands of people that will put it in the economy.Instead Obama is down with more transfer of wealth to the top 2%.The banks make $ off of the programs for the poor.T For an example,the recent continuation of the bush tax cuts for the rich,also was a tax increase on the poor.

This is a very very well written article with more than a few, what should be obvious points, that need to be screamed from the tallest buildings in America. A few enormous points from the article:

"cutting a 'historical' $100 billion will have any positive affect on the long-term economy is absolute fiction"

"if the history of modern lawmaking is any indicator, the establishment will surely stick it to the poor and middle classes with these cuts while the oligarchs continue to flourish"

"it seems that a return to a true free-market economy with sound money and limited government is only possible pending the total collapse of the current system"

"Ultimately, I fear that the painful fallout [of budget cuts] will be used to discredit advocates for small government, and global corporate Statism will sprint to the endgame unchallenged."