Do hard-working, tax-paying U.S. citizens benefit from any of this Congressional pork-barrel insanity …?

Answer: No.

Does this type of ‘discretionary spending’ in any way help U.S. citizens to become more financially secure..” Or reduce the national debt..? Or promote economic liberty..?

Answer: No.

Are our Washington Democrats and Republicans doing anything to change course on this mindless spending..?

Answer: No.

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Where our tax dollars are going…

Monday, Jun 27, 2022 – By Adam Andrzejewski of Open The Books Substack

The ever-rising national debt just surpassed $30 trillion this year – at least $91,613 for every person in the U.S. So, just how much federal waste, silliness, weird or unnecessary spending are your tax dollars funding?

Delving into the trillions of dollars in annual spending, our auditors at OpenTheBooks.com, recently examined Washington’s discretionary spending—beyond such big-ticket items as health, welfare and defense.

We found staggering examples and highlighted some of the worst in our new oversight report, Where’s The Pork?

Dead people paid billions: 2.2 million deceased people received $3.6 billion in economic stimulus checks. The government asked for it back, but dead people are notoriously bad about paying up. The federal government is equally bad about clawing it back.

How did this happen? Well, the Internal Revenue Service (IRS) didn’t check the Social Security Administration’s “deceased persons” list. Why have a deceased persons list if you don’t check the list before cutting the check?

The Do Not Pay list–Got Paid: The Small Business Administration (SBA) doled out 57,000 Paycheck Protection Plan (PPP) forgivable loans to entities on the Do Not Pay list housed at Treasury. Again, why have a do not pay list if you are not going to check it. Cost to taxpayers? $3.6 billion.

We found that the federal government is literally gambling away hundreds of thousands of taxpayer dollars – on pigeons.

National Institutes of Health (NIH) doled out a $463,330 grant to researchers at Reed College (Portland, Oregon) to “create a token-based economy where pigeons are taught to gamble with slot machines.” The pigeons were given tokens, and could choose whether to spend, save or gamble them. No explanation in how the gambling habits of pigeon translate to humans.

Then, there are the crappy projects.

For example, the National Science Foundation gave a $556,584 grant that in-part funded a study of beasts pooping – yes, The Hydrodynamics of Defecation. Animal bowel movements were measured, studied, and documented, including the release of four very gross videos.

Nearly $7 million was spent on technology to film your butt – while you’re on the toilet. National Cancer Institute gave this grant to Sanford University, whose researchers admitted, “To fully reap the benefits of the smart toilet, users must make their peace with a camera that scans their anus.”

These grants defy imagination, however, there are many others.

Dr. Anthony Fauci’s Institute of Allergies and Infectious Diseases spent $478,188 in an attempt turn monkeys transgender, the National Science Foundation gave a $300,000 grant for a virtual reality penguin study and gave Harvard $75,000 grant to “blow lizards off trees with leaf blowers.”

Somehow, Congress still has their hidden slush fund for workplace disputes. First uncovered during the early days of the #MeToo movement, the Office of Congressional Workplace Rights paid $18.2 million since 1997 to settle 291 case of workplace disputes. It’s beyond time to open those books.

When flashing back to egregious spending examples in recent years, we uncovered:

In 2018, the U.S. Air Force spent $1,280 per “hot cup” to keep coffee warm for their fighter pilots. Then-Senate Judiciary Chairman Chuck Grassley asked the Air Force for an audit, which found it spent $300,000 on the expensive cups over three years. This waste was stopped.

In 2016, we found that Veterans Affairs spent $20 million on a high-end luxury art portfolio during a period when sick veterans were dying because the agency claimed a lack of budget to hire enough doctors. It was 27 foot Christmas trees costing $21,000; six-figure artwork; and $700,000 sculptures. The VA secretary apologized.

Since 2020, federal spending has been especially wasteful, as the political class used the Covid-19 pandemic as an excuse to spend wildly on anything and everything under the sun.

Musician and former presidential candidate Kanye West, who claims a net worth of $3.2 billion, took $2.4 million in coronavirus relief from the PPP for his clothing and sneaker company, Yeezy LLC.

And a legal loophole in the PPP was used by 125 defense firms with strong ties to the Communist Chinese Party to collect between $200 million and $400 million meant to help American small businesses.

It’s an open question whether or not Chinese hackers funded an entire year of China’s military budget ($206 billion) by stealing U.S. unemployment aid. Primarily Chinese and Russian hackers stole up to $400 billion. It’s the largest public fraud in U.S. history.

Read more here:   https://openthebooks.substack.com/p/just-how-much-federal-pork-and-waste

________________________________________________

The Leviticus 25 Plan is the most powerful economic acceleration plan in the world.

For the United States, it will generate $583 billion surpluses for each of the first five year of activation (2023-2027). It will pay for itself entirely over a 10-15 year period.

It will allow U.S. citizens to eliminate massive amounts of Household Debt and restore free market dynamics and economic liberty in America.

It will immeasurably strengthen the U.S. Dollar – and set America back on track for long-term economic growth and prosperity.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4099 downloads)

Delusion Reigns At The Eccles Building

ZeroHedge – Tyler Durden, Monday, May 02, 2022

Authored by Shanmuganathan “Shan” Nagasundaram via InternationalMan.com,

Excerpts:

Never in the history of the world has the financial well-being of so many been tied to the economic competence of so few.…

Make no mistake—we are in extreme bubble territories for the asset classes of equities, bonds (despite the recent routing, valuations are still very frothy—more on that later), and real estate. US GDP (gross domestic product) numbers these days are pretty much largely dependent on the reserve currency status and is just a pin prick away from a cascading collapse on multiple fronts. What lies ahead is sheer mayhem in the equities, bonds, and real estate markets, and consequently on the economy and currency markets as well.

A legitimate question at this point would be what has changed in the immediate past to convert what was an inevitable event to an imminent one?

First, the fundamentals of the US Economy have been deteriorating for at least two decades, and it was the apparent low consumer price inflation despite all of the monetary inflation that masked the disease. Economists, investors, and the general public have been mistaking the equity, real estate, and bond bubbles (which are a direct consequence of the monetary inflation) as indicative of a sustainable economy.

The March FOMC Meeting

Interested readers can read the complete FOMC minutes on the Federal Reserve website. We will just examine two aspects that are relevant to the current discussion.Why Is Quantitative Tightening IMPOSSIBLE?

Let me explain. I am not saying that the Fed cannot embark on QT (quantitative tightening). They can, they have in the past (in 2018 under Yellen, and this was prematurely abandoned within a year due to adverse market conditions), and they will probably again do so in May.

But they can NEVER take it through to the projected closure. They will have to abandon the attempt midway due to tightening liquidity conditions that would manifest in ways such as the junk bond markets freezing, repo crises, etc. What causes the reversal of the oncoming QT is impossible to speculate, but suffice it to say that some weak link in this domino chain will break.

For the same reasons that each round of QE (quantitative easing) was bigger than its previous version, each QT would be shorter as compared to the previous attempt. It is also a reasonable supposition at this point that this will be last (unsuccessful) attempt at QT and all that we will have after 2022 is only QE to infinity. Mises provides the perfect QE/QT analogy with that of a drug addict on an artificial high—the victim will require increasing doses overtime and the withdrawal symptoms from a higher level of dosage would be that much more severe and difficult to endure.

The Justification: QE is just a fancy way of stating inflation or monetization of deficits or buying assets that other investors / central banks will not buy, or at least not at the price at which it is offered. The US government has been running gigantic deficits to the tune of a few trillion dollars, and the US Fed has been buying up these treasury sales at pretty much “next-to-nothing” yields for the last decade. The pace has intensified over the years, as one can observe from the chart below.

Source: American Action Forum.

The deficit of the US government for 2022 would be to the tune of $3 trillion. If the US Fed, which has been the biggest buyer of Treasurys in the last few years, now becomes the second biggest seller (after the US Treasury, of course) who is going to be the buyer? Even assuming they can find a buyer, at what price can such transactions be effective?

The biggest buyers of these treasuries before the US Fed stepped in were the central banks of China, Russia and Saudi Arabia. It is doubtful that these buyers will return to the table for the foreseeable future. Not even the other “friendlier” central banks such as the Bank of Japan or the European Central Bank are going to step in, as they have their own inflation problems to deal with.

_________________________________________

America needs a powerhouse economic plan that will de-stress the system and set America back on track for long term stability and prosperity. This plan will need to:

(1) Generate massive new federal budget surpluses; (2) Eliminate trillions of dollars of debt for America’s hard-working, tax-paying middle-class families; (3) Re-ignite a powerful new economic growth cycle; (4) Solve the entitlement spending time-bomb; (5) Restore the long-term financial viability of the Medicare and Social Security Trust Funds; and help insulate the system from the dreadful effects of another major financial crisis.

That plan is loaded up and ready to launch – generating $583 billion surpluses over the course of the first five years of activation (2023-2027).

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4095 downloads)

Washington Democrats have another new race-centric subsidy plan.

Washington Republicans, once again ‘dead in the water’ – have no better alternative to present to American families…

………………………………………………………….

Fannie Mae’s New Racial Bias – WSJ

The government-sponsored housing giant embraces race-based subsidies.

June 13, 2022 – Excerpts:

It was probably inevitable that the Biden Administration would enlist housing giants Fannie Mae and Freddie Mac to advance its woke agenda, and now it has. Last week the government-sponsored enterprises released plans to promote housing “equity” that are chock-full of race-based subsidies.

Fannie and Freddie have been under federal conservatorship since Treasury rescued them during the housing meltdown with a $190 billion taxpayer bailout. The Federal Housing Finance Agency (FHFA) has since regulated their capital, liquidity and underwriting, as well as the mortgages they can acquire. Trump FHFA director Mark Calabria kept the monsters on a tight leash, but there was always a risk that a future Administration would ease up and politicize home lending again. That day has come.

In September the Biden FHFA announced it would require Fannie and Freddie to “prepare and implement three-year Equitable Housing Finance Plans that describe each Enterprise’s planned efforts to advance equity in housing finance.” Translation: They must find ways to boost minority homeownership no matter the risk for taxpayers.

Calling all of this mission creep is an understatement. The GSE equity plans would let the Administration spend billions of taxpayer dollars on housing without Congress appropriating a cent.

Freddie Mac’s equity plan also includes credit programs to address “systemic barriers” to housing for minorities but at least tries to camouflage its racial preferences. Fannie makes its subsidies for blacks explicit, but they don’t appear to extend to other racial groups such as Hispanics and Asians. Low-income white borrowers are also excluded.

These racially targeted subsidies are probably unconstitutional. Multiple federal courts have blocked a $3.8 billion Covid relief program to forgive loans for minority farmers. The Biden Administration may argue that a different legal standard applies to private companies like Fannie and Freddie, and that the credit programs are aimed at remedying past redlining.

But the GSEs are de facto state actors, and the Supreme Court held in Richmond v. Croson (1989) that governments may adopt racial set-asides only to remedy specific episodes of past discrimination that the government had a hand in. The GSE plans are supposedly intended to compensate for government-sanctioned redlining in the 1930s that Congress banned in 1968.

…… No economic good, and much social harm, will come from turning Fannie and Freddie into agents of progressive racial division.

_____________________________________________

America needs economic initiatives that provide equal opportunities for all Americans – and honor the sacred principle of equal justice under the law.

Washington Republicans again have nothing to put on the table – to transcend the politics and to ‘lift all ships.’

Main Street ‘ground level’ Republicans do have a plan, the most powerful economic acceleration plan on the face of the earth – one that treats all U.S. citizens equally, and provides a dynamic boost to home ownership opportunities and massive debt elimination for millions of American families.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4089 downloads)

The U.S. Federal Reserve performed a massive ‘secret liquidity lifeline’ bailout of the Wall Street financial sector, and failed their leveraged speculation strategies, during the great financial crisis (2007-2010).

Many of those same Wall Street banks are now taking another financial ‘hit’ from their Russia exposure.

…………………………………………………………………………………

Western Banks Brace For $10 Billion Hit Over Russia Exit

ZeroHedge, May 08, 2022 – Excerpts:

Western banks are bracing for a $10 billion collective hit as they prepare to shutter operations in Russia over the invasion of Ukraine – a move which mirrors several US lenders last month.

According to the Financial Times, international sanctions have “forced banks to consider turning their backs on a country that some lenders first entered more than a century ago.”

This week a string of European banks set aside billions of euros in provisions ahead of the closure of their Russian operations, following similar moves by US lenders last month. Western banks collectively have $86bn of exposure to Russia — with close to 40,000 staff — and are setting aside more than $10bn in expectation of losses on their ventures, according to Financial Times calculations. -FT

French lender Société Générale, which has operated in Russia for 150 years, has set aside €561mn for the first quarter, and expects to lose €3.1bn ($3.3bn) on the sale of its Rosbank subsidiary – which was founded by billionaire Vladimir Potanin. The bank has 3.1 million retail customers throughout Russia and €18bn ($19.3bn) of total exposure to the country. Around 12,000 people are employed by Rosbank.

Graphic via FT Research (Steven Bernard and Patrick Mathrin)

Other European banks preparing to take a hit are French bank Crédit Agricole, Austria’s Raiffeisen, Swiss lender UBS, and Credit Suisse.

____________________________________________

The Fed ‘fired up’ a line of credit facilities during the 2007-2010 crisis and again during the 2020-21 pandemic crisis to help these global banking operations to help them reduce their bad debt exposure and regain their ‘financial health.’

It is time now for the Fed to create a Citizens Credit Facility to grant the same direct access to liquidity to individual U.S. citizens – to reduce ‘ground level’ debt in America and restore financial health to American families.

The Leviticus 25 Plan – loaded up and ready to launch.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4080 downloads)

Fed futility in full blossom…

…………………………………………….

How Governments Expropriate Wealth With Inflation And Taxes

May 10, 2022, Authored by Daniel Lacalle, – Excerpts:

In an interview with The Wall Street Journal, Treasury Secretary Janet Yellen admitted that the chain of stimulus plans implemented by the U.S. administration helped create the problem of inflation. “Inflation is a matter of demand and supply, and the spending that was undertaken in the American Rescue Plan did feed demand”, Yellen admitted. Of course, Yellen went on to say that the spending was appropriate due to the collapse of the economy as governments were trying to prevent a recession.

This reminds us of a few of the problems of disproportionate government intervention and the negative impact on the middle class…. Central banks and governments have exhausted all demand-side policies at the expense of the middle class by eroding real wages and deposit savings.

Even worse, governments created a larger inflationary spiral by maintaining all “pandemic relief” packages even after the re-opening, well beyond the recovery. They expected a spectacular aggregate demand increase and they got it. Now the result is higher inflation and lower economic growth. But government size and deficit spending remain.

Everything that government spends is paid by you. There is no free money. Even for the recipients of benefits in constantly depreciated currency. Inflation, the tax on the poor.

Governments do not avoid recessions through spending, they simply make the accumulated problems larger by constantly adding debt that central banks monetize via quantitative easing. This uncontrolled increase in M3 money supply (a broad money proxy) leads to asset inflation first and everyday goods price inflation afterwards. Both consequences lead to inequality and a constant deterioration of the purchasing power of the currency, making salaries in real terms lower.

Central-planned money creation is never neutral. It disproportionately benefits the first recipients of money, government and those with assets and debt, and negatively impacts those with a monetary salary and some savings in cash deposits, which dissolve over time. No socialist excel spreadsheet can erase the fact that massive deficit spending financed with newly created money destroys the poor and the middle class. They may say that government spending goes to social programs that benefit the poor, but that does not happen. Social programs in a constantly devalued currency become irrelevant, inefficient, and worthless while at the same time the wrongly named welfare state condemns a substantial proportion of the population to being hostage clients of government plans.

Government does not give excess reserves as social programs. Government takes away from existing and future wealth of the economy via currency printing, taxation, spending and debt, but math never works for those who believe extractive and confiscatory policies will work. 

The “tax the rich” crowd are doing an enormous disservice to the citizens they pretend to support. Interventionists may use the excuse of stealing from the rich to give to the poor, but the reality is that government spending is so enormous that they cannot finance every entitlement and social program with the money of one percent of the population. Government takes from the 99% to give devaluated and increasingly worthless funds to 45% of the population, and in the process bloating an ever-expanding bureaucracy to administer it all.

Did you feel happy when the government gave you a cheque paid with printed money? Watch now as your daily groceries, gas and power become unaffordable.

Government always takes three when they promise one. Huge public debt accumulation will be paid by the 99% via inflation, taxes, or both.

Deficit spending and artificial money creation are just two sides of the same coin, dissolving the existing wealth of a nation by issuing more promissory notes. Wealth is the same, just more units of currency in circulation. Hence, prices do not rise, the purchasing power of money diminishes.

The mirage of enormous government spending and exponential currency printing is a process of expropriation. Government expands its size at the expense of the rest of the population, especially those that defend rising public expenditure programs.

Demand-side policies expropriate wealth in three ways.

• On the way in, by running uncontrolled deficits financed with debt, which means higher taxes in the future.
• Second, raising taxes to “reduce deficit”.
• Third, with inflation.

Government weight in the economy rises in all three steps.

If you wanted more government, this is more government: Less growth, higher inflation, and poorer citizens.

________________________________________

The Leviticus 25 Plan will re-balance the economic system in America.

Instead of “Central-planned money creation … disproportionately benefiting the first recipients of money, government and those with assets and debt, and negatively impacting those with a monetary salary and some savings in cash deposits,” it will re-target U.S. citizens as the “first recipients” of the Fed’s “money creation” gambit – immeasurably strengthening the financial health of American families, and the financial health of the U.S..

The Leviticus 25 Plan will reignite economic growth, reduce the footprint of the enormous government-run entitlement programs, improve labor productivity, generate massive new tax revenue flows (without raising taxes), and pay for itself entirely over a 10-15 year period.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4077 downloads)

The IRS is drastically short of manpower, and it is costing the government $3.3 billion in delayed refund interest payments. A major ‘fix’ is needed…

Market Watch, Feb 5, 2022: The Internal Revenue Service has way too many unprocessed tax returns from last year — and far too few job applications for workers who will help the agency dig out of the backlog.

Though the IRS is seeking to fill 5,000 positions at several campuses across the country, only 179 positions have been filled so far, according to Erin Collins, national taxpayer advocate at the IRS.

At same time, the IRS is facing a backlog that, as of late December, included 6 million unprocessed 2021 tax returns and another 2.3 million amended returns.
The pay for the clerical jobs wading through the paperwork isn’t exactly enticing, Collins said in congressional testimony Tuesday. Many of the roles connected to submission-processing start at a federal-worker pay grade that’s just under $25,000 a year, she said.

At a time when employers are raising wages to draw in and keep workers during a labor shortage, “it is not surprising that the IRS is having difficulty finding enough suitable job applicants,” she wrote in testimony to a House of Representatives Ways and Means Oversight Subcommittee.

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IRS Paying Billions In Interest On Millions Of Delayed Tax Returns

ZeroHedge, May 10, 2022 – Excerpts:

The IRS is paying interest on overdue refunds to the tune of 4%, up 1% from the prior quarter, according to the Wall Street Journal, which notes that’s more than half of what a money-market or a savings account is currently paying.

The backlogged agency has 45 days to process a tax return and issue a refund, after which interest begins accumulating. In 2021, they paid $3.3 billion in interest, which was 3x the amount paid in 2015, according to the Government Accountability Office.

“It’s not a small amount of money,” said Jessica Lucas-Judy, director of tax issues at GAO. “If there’s some way to avoid some of these payments, that’s probably a good thing.”

The IRS has been moving slower than usual to process tax returns. Administration officials say that is the result of years of Republican-backed budget cuts. Republicans say the agency hasn’t given priority to taxpayer service. Some recent years have been particularly difficult. In fiscal 2019, the aftermath of a government shutdown caused a backlog. The IRS slowed again when the coronavirus pandemic began in 2020 and is still months behind schedule in processing paper returns.

As of April 29, the IRS has 9.6 million unprocessed individual tax returns, some from tax year 2020 and some from 2021. The agency says it is taking more than 20 weeks to handle amended tax returns and hopes to catch up on all of its processing backlogs by the end of 2022. – WSJ

The $3.3 billion in 2021 interest payments works out to around 1/4 of the cost to run the IRS, however the interest payments don’t come out of the tax agency’s budget.

According to the GAO, the IRS isn’t being proactive enough about excessive interest payments.

“IRS does not fully understand the causes for refund interest payments—both within and outside of its control—and therefore cannot communicate this information to Treasury and Congress,” the GAO wrote.

The IRS’s answer? ‘it’s complicated.’

_______________________________________

There is a simple and powerful solution to the IRS’ “complicated” processing problems: The Leviticus 25 Plan.

All U.S. citizens participating in The Leviticus 25 Plan will forego their tax refunds for the initial five year activation period (2023-2027).

Benefits – Federal Income Tax Recapture
The scoring model assumes that 80% of U.S. citizens will participate in The Plan.
Participants must give up their tax refunds through the Plan’s recapture provisions for the 5-year target period (2023-2027).

According to 2021 IRS Filing season statistics, through Dec 3, 2021: 129,841,000 total refunds were paid out for a total of $365.499 billion. The estimated refund total
for the full year, through December 31st: $365.5 billion.

The Leviticus 25 Plan would reduce the number of refunds each year (2023-2027) by 80%, effectively dropping the gross number of refunds in need of processing from approximately 130,000,000 down to about 26,000,000.

The IRS would NOT need to hire the additional thousands of employees, and they would NOT be put in the bind of having to pay $3.3 billion in interest payments on unprocessed refunds.

The Leviticus 25 Plan is a powerful solution to the IRS’ dilemma, and it is loaded up and ready to go.

Also note – Refund totals have increased by ~$44 billion over the past five years, from $323.9 billion (2017) to a current (estimated) $365.5 billion (2021), representing an average increase of $8.32 billion / year.
A conservative estimated average of $8 billion per year (2023-2027) will be used for this recapture calculation.
2023: $382 billion
2024: $390 billion
2025: $398 billion
2026: $406 billion
2027: $414 billion
Total: $1.990 trillion
Total recapture X 80%: $1.990 trillion X .8 = $1.592 trillion
Total recapture per annum (2023-2027): $1.592 / 5 = $318.4 billion
Source: https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-december-3-2021

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4074 downloads)

M2 has surged from 8,000 in 2010 to 22,000 in 2022.

What Is M2?

M2 is a calculation of the money supply that includes all elements of M1 as well as “near money.” M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, and other time deposits (in amounts less than $100,000). These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits.

Key Takeaways

• M2 is a measure of the money supply that includes cash, checking deposits, and easily-convertible near money.
• M2 is a broader measure of the money supply than M1, which just includes cash and checking deposits.
• M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy.

Source: Investopedia | https://www.investopedia.com/terms/m/m2.asp

…………………………………………………………………

Meanwhile, the Federal Reserve Bank of New York reports that Q1 2022 Household Debt has risen up to $15.84 trillion

Corporate debt sales – surging…

National debt has risen to $30.453 trillion.

The U.S. Governmental Accountability Office reported, May 5, 2022, that our nation is on an “unsustainable fiscal path.”

______________________________________

Blowing up the M2 money supply has solved nothing. It is time to re-target Federal Reserve liquidity infusions – and clean up America’s massive debt load.

It is time to grant U.S. citizens the same direct access that was provided to Wall Street’s financial sector during the great financial crisis (2007-2010).

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4073 downloads)

Do our Washington Republicans today present a clear and compelling agenda…?

A look back in history to 1994 points to a time when Republicans did have a clear and compelling agenda.

“Teaching American History” by Eric C. Sands

The Contract with America was a document released for the 1994 midterm elections by the Republican Party explaining what the party would do if it won the majority in Congress. The contract, written by Newt Gingrich and Dick Armey, borrowed from a State of the Union address written by Ronald Reagan years earlier. Additional input was provided by the Heritage Foundation, a conservative think tank that dealt primarily with public policy issues and had been working on many of the contract’s proposals for several years.

The document was introduced a month and a half before the election and was approved by all but two of the Republican members of the House. The provisions of the contract proved quite popular with the public even though many people were unfamiliar with the contract itself. Republicans gained fifty-four House seats and nine Senate seats in the elections, and the contract was seen as a success by party leaders. The contract then became a focus of the Republican legislative agenda, denying President Bill Clinton working control of Congress. The contract formed a foundation for Republican policymaking as members of Congress pushed for reducing the size of government, lowering taxes, emphasizing entrepreneurship, establishing tort reform, and bringing about welfare reform. These measures resulted in several important pieces of legislation, none probably more important than welfare reform, which was signed into law by President Clinton. The contract also brought unity and cohesiveness to Republicans, especially in the House of Representatives.

“Republican Contract with America” – Republican National Committee, September 27, 1994

As Republican Members of the House of Representatives and as citizens seeking to join that body we propose not just to change its policies, but even more important, to restore the bonds of trust between the people and their elected representatives.

That is why, in this era of official evasion and posturing, we offer instead a detailed agenda for national renewal, a written commitment with no fine print.

This year’s election offers the chance, after four decades of one-party control, to bring to the House a new majority that will transform the way Congress works.^[1] That historic change would be the end of government that is too big, too intrusive, and too easy with the public’s money. It can be the beginning of a Congress that respects the values and shares the faith of the American family.

Like Lincoln, our first Republican president, we intend to act “with firmness in the right, as God gives us to see the right.” To restore accountability to Congress. To end its cycle of scandal and disgrace. To make us all proud again of the way free people govern themselves.

On the first day of the 104th Congress, the new Republican majority will immediately pass the following major reforms, aimed at restoring the faith and trust of the American people in their government:

• FIRST, require all laws that apply to the rest of the country also apply equally to the Congress;
• SECOND, select a major, independent auditing firm to conduct a comprehensive audit of Congress for waste, fraud or abuse;
• THIRD, cut the number of House committees, and cut committee staff by one-third;
• FOURTH, limit the terms of all committee chairs;
• FIFTH, ban the casting of proxy votes in committee;
• SIXTH, require committee meetings to be open to the public;
• SEVENTH, require a three-fifths majority vote to pass a tax increase;
• EIGHTH, guarantee an honest accounting of our Federal Budget by implementing zero base-line budgeting.

Thereafter, within the first 100 days of the 104th Congress, we shall bring to the House Floor the following bills, each to be given full and open debate, each to be given a clear and fair vote and each to be immediately available this day for public inspection and scrutiny.

• THE FISCAL RESPONSIBILITY ACT: A balanced budget/tax limitation amendment and a legislative line-item veto to restore fiscal responsibility to an out- of-control Congress, requiring them to live under the same budget constraints as families and businesses.
• THE TAKING BACK OUR STREETS ACT: An anti-crime package including stronger truth-in- sentencing, “good faith” exclusionary rule exemptions, effective death penalty provisions, and cuts in social spending from this summer’s “crime” bill to fund prison construction and additional law enforcement to keep people secure in their neighborhoods and kids safe in their schools.
• THE PERSONAL RESPONSIBILITY ACT: Discourage illegitimacy and teen pregnancy by prohibiting welfare to minor mothers and denying increased AFDC for additional children while on welfare, cut spending for welfare programs, and enact a tough two-years-and-out provision with work requirements to promote individual responsibility.
• THE FAMILY REINFORCEMENT ACT: Child support enforcement, tax incentives for adoption, strengthening rights of parents in their children’s education, stronger child pornography laws, and an elderly dependent care tax credit to reinforce the central role of families in American society.
• THE AMERICAN DREAM RESTORATION ACT: A$500 per child tax credit, begin repeal of the marriage tax penalty, and creation of American Dream Savings Accounts to provide middle class tax relief.
• THE NATIONAL SECURITY RESTORATION ACT: No U.S. troops under U.N. command and restoration of the essential parts of our national security funding to strengthen our national defense and maintain our credibility around the world.
• THE SENIOR CITIZENS FAIRNESS ACT: Raise the Social Security earnings limit which currently forces seniors out of the work force, repeal the 1993 tax hikes on Social Security benefits and provide tax incentives for private long-term care insurance to let Older Americans keep more of what they have earned over the years.
• THE JOB CREATION AND WAGE ENHANCEMENT ACT: Small business incentives, capital gains cut and indexation, neutral cost recovery, risk assessment/cost-benefit analysis, strengthening the Regulatory Flexibility Act and unfunded mandate reform to create jobs and raise worker wages.
• THE COMMON SENSE LEGAL REFORM ACT: “Loser pays” laws, reasonable limits on punitive damages and reform of product liability laws to stem the endless tide of litigation.
• THE CITIZEN LEGISLATURE ACT: A first-ever vote on term limits to replace career politicians with citizen legislators.

Further, we will instruct the House Budget Committee to report to the floor and we will work to enact additional budget savings, beyond the budget cuts specifically included in the legislation described above, to ensure that the Federal budget deficit will be less than it would have been without the enactment of these bills.

Respecting the judgment of our fellow citizens as we seek their mandate for reform, we hereby pledge our names to this Contract with America.

_________________________

Now in 2022, our Washington Republicans have no formalized plan whatsoever – to get America’s massive debt load back under control; no formalized plan to help get people off social welfare programs and restore financial security for American families; no plan to ramp up ‘real’ economic growth and higher-level job creation; no strategy to get the U.S. Dollar back on track for long-term strength and stability; no policy imperatives to reduce the control of government over the daily affairs of our citizens; and no compelling ideas on how to revitalize a citizen-centered health care system in America.

Our Washington Republicans have no formalized plan supporting religious liberty, strengthening our military readiness, getting crime under control in our major cities, and reducing the massive inflows of illegal drugs into our country, feeding addictions and ruining lives, and no formalized plan on restoring control over our borders.

Main Street America does have a plan – it all starts here:

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4065 downloads)

The U.S. Congress and the U.S. Federal Reserve have not formalized a strategy to rejuvenate the U.S. economic system, promote economic liberty, and preserve the strength and stability of the U.S. Dollar.

Why?  They literally have no strategy.…

The formalized policies of the U.S. Congress and the various agencies they have empowered include:

• Unmitigated deficit spending;
• Expanding the social welfare system and increasing government control over the daily affairs of U.S. citizens;
• Over-regulating / handicapping the free market system in America;
• Funding and facilitating special interest groups that are openly hostile to American values and the American dream;

The formalized policies of the U.S. Federal Reserve include: 

• Expanding its balance sheet to fund (directly and indirectly) the federal government’s voluminous deficit spending proclivities;
• Creating various credit facilities to transfuse Wall Street financial institutions (domestic and foreign) with trillions of dollars in liquidity extensions and credit guarantees to disentangle them from leveraged speculation and failed financial innovation schemes, mothballed risk management protections, credit-rate shopping sprees, counter-party defaults, and doomed predatory lending rackets;
• Rewarding the Fed’s Primary Dealers with ongoing special access to liquidity lines which are minimally beneficial to the economic health of U.S. citizens and main street America.

The Leviticus 25 Plan will correct these glaring distortions in our economic system through:

• Granting U.S. citizens the same direct access to liquidity that was provided by the Federal Reserve to major banking institutions like Morgan Stanley, JP Morgan, Goldman Sachs, Bank of America, Citigroup; AIG, Merrill Lynch, Bear Stearns, State Street, Barclays, RBS, Deutsche Bank, UBS, BNP Paribas, HSBC, and many others during the great financial crisis (2007-2012);
• Facilitating massive debt elimination for American families;
• Generating $583 billion federal budget surpluses for the first five years of activation (2023-2027);
• Paying for itself entirely over a 10-15 year period;
• Revitalizing a citizen-centered health care system in America;
• Reigniting long-term productive economic growth;
• Providing the framework for long-term strength and stability in the U.S. Dollar;
• Restoring economic liberty and free market economics in America;
• Putting America squarely back on track for long-term financial health and prosperity for all U.S. citizens;
• Helping to keep America free of corrupting and dangerous financial entanglements that threaten our national sovereignty.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4060 downloads)

“The free man will ask neither what his country can do for him nor what he can do for his country. He will ask rather “What can I and my compatriots do through government” to help us discharge our individual responsibilities, to achieve our several goals and purposes, and above all, to protect our freedom?

And he will accompany this question with another: How can we keep the government we create from becoming a Frankenstein that will destroy the very freedom we establish it to protect?

Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom.

Even though the men who wield this power initially be of good will, and even though they be not corrupted by the power they exercise, that power will both attract and form men of a different stamp.” – Milton Friedman Capitalism and Freedom, 1962