Medicaid – As of June 2023 92,614,205 individuals were enrolled in Medicaid and CHIP in the 50 states and the District of Columbia.

KFF – Medicaid Financing:  Medicaid spending (not including administrative costs) totaled $728 billion in federal fiscal year (FFY) 2021 (Figure 1).

Medicaid/CHIP Recapture – Each U.S. citizen participating in The Plan will receive a $30,000 deposit, funded through a Federal Reserve-based Citizens Credit Facility, into a personal Medical Savings Account (MSA).

The Leviticus 25 Plan assumes 80% participation by Medicaid / CHIP enrollees.

Within this comprehensive economic plan, The U.S. Health Care Freedom Plan provides Medical Savings Account (MSA) funding of $30,000 to cover the $6,000 deductible for Medicaid and CHIP eligible primary care events and select out-patient care services – primarily related to routine medical appointments, Medicaid prescription events, disease state monitoring clinics, and other desired primary care services.

Using a conservative estimate of 90.5 million for 2023, with a projected annual growth rate of 2%:

2023:  90.5 million

2024:  92.3 million

2025:  94.1 million

2026:  96.0 million

2027: 97.9 million

2028:  99.8 million

Total:  480.1 million receiving benefits 2024-2028

Average annual enrollment (2024-2028): 96.0 million

96.0 million X .8 = 76.8 million X $6,000/year X 5 years = $2.304 trillion

Total Medicaid/CHIP recapture during the 5-year target period (2024-2028):  $2.304 trillion 

Significant additional benefits would accrue to states through reductions in Medicaid / CHIP outlays.

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Medicare – As of March 2023, there were 65,748,297 people enrolled in Medicare,

Medicare Advocacy reported, Apr 6, 2023, that “the Medicare Trustees released their annual report on the financial status of Medicare’s trust funds, projecting that the Hospital Insurance (HI) trust fund will be partially depleted and able to pay only 89% of benefits in 2031. This projected date is three years later than in last year’s report.

Medicare Recapture – Each U.S. citizen participating in The Plan will receive a $30,000 deposit, funded through a Federal Reserve-based Citizens Credit Facility, into a personal Medical Savings Account (MSA).

The Leviticus 25 Plan assumes 80% participation by Medicare enrollees.

Within this comprehensive economic plan, The U.S. Health Care Freedom Plan provides Medical Savings Account (MSA) funding of $30,000 to cover the $6,000 deductible for Medicare-eligible primary care events and select out-patient services – primarily related to routine medical appointments, Medicare Part D prescription events, disease state monitoring clinics, and other desired primary care services.

There were 65.748 million Americans enrolled in Medicare as of Mar 2023.  Conservative growth projected at 4.0% annually through 2030.    

For the 5-year target period (2024 – 2028)

2023:  65.75 X .8 X $6,000 = $315,600,000

2024:  68.38 X .8 X $6,000 = $328,224,000

2025:  71.12 X .8 X $6,000 = $341,376,000

2026: 73.96 X .8 X $6,000 = $355,008,000

2027:  76.92 X .8 X $6,000 = $369,216,000

2028:  79.99 X .8 X $6,000 = $383,985,000

Total Medicare recapture during the 5-year target period (2024-2028):  $1.778 trillion 

Note:  Medicare Part D prescription events per year: 1.8 billion.  An 80% participation rate would result in 1.44 billion prescriptions being paid for directly with an MSA debit card. Star ratings for pharmacies would cease to be a burdening factor for these prescription events. Low income subsidies for Part D plans would also undergo a significant reduction in outlays.

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Social Security – The Social Security trust funds, relied on by approximately 67 million American beneficiaries, are scheduled to be depleted in 2034 ,

The Social Security trust funds are comprised of two financial accounts in the U.S. Treasury.  The Old-Age and Survivors Insurance (OASI) Trust Fund pays retirement and survivors benefits; the Disability Insurance (DI) Trust Fund pays disability benefits.

The Leviticus 25 Plan, which specifies that participants will not be eligible for SSDI benefits, will save the Social Security Administration $665 billion over the first five years of activation (2024-2028).  The Plan assumes 80% participation.

Number, average, and total monthly benefits, December 2022: 

8,741,000 recipients; Total annual SSDI payments, December 2022: ~$142.248 billion.

SSDI received an 8.7% Cost of Living Adjustment (COLA) for 2023.  This projection assumes a conservative 2% growth per year for 2024-2028.

2023:  $154.623 billion (includes 2023 8.7% COLA)

2024:  $159.715 billion

2025:  $162.909 billion

2026:  $166.169 billion

2027:  $169.492 billion

2028:  $172.881 billion

Total:  $831.166 billion / Average per year: $166.233 billion

Total for 5-year target period 2024-2028:

Plan assumes 80% participation – recapture:  $831.166 billion X 0.8 = $664.933 billion

The Leviticus 25 Plan will also boost the number of Americans working and paying into the Social Security trust funds and provide significant strides toward solvency over the coming two decades.

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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 (7435 downloads)

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October 2023 quote:  “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”  – Buckminster Fuller

Improving teacher pay and compensation, for both public and private school teachers, is a critically important goal for school districts across America for attracting and retaining dedicated, top notch teachers within the profession – and providing the best resources for high achievement by America’s school children.

At the same time, all working Americans – military, law enforcement, medical / healthcare, maintenance workers, construction, fire and rescue, service workers – are deserving of an opportunity, a comprehensive initiative, to strengthen their families’ financial status and relieve the burden of government control over their daily lives.

The Leviticus 25 Plan provides the perfect opportunity to reward all hard-working, tax-paying Americans with far greater financial benefits and than is possible by taxing one segment of the population base to increase the compensation of another.

The Leviticus 25 Plan would provide for massive elimination of vast tracts of household debt (home mortgages, home equity loans, auto loans, student loans, and credit cards) and installment debt – with positive benefits that would last for decades.

According to the Federal Reserve Bank of New York, “Total household debt rose by $16 billion to reach $17.06 trillion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt ..”

Trillions of dollars would cease flowing to banks each year for debt service, and instead be retained by working U.S. citizens and their families. The benefits would be incalculable.

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The Leviticus 25 Plan would also provide a powerful mechanism for student loan debt elimination that would equally benefit the millions of college graduates across America who have previously paid back their student loans.

LendingTree.com reports: “Americans own $1.77 trillion in federal and private student loan debt as of the second quarter of 2023. That’s up 1.25% from the second quarter of 2022. $128.77 billion of that total through March 31, 2023, is private student loan debt.”

According to Education Data Initiative, “The average federal student loan debt is $37,338 per borrower. Private student loan debt averages $54,921 per borrower. The average student borrows over $30,000 to pursue a bachelor’s degree.”

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 (7433 downloads)

U.S. Government social welfare and income security programs typically penalize people by reducing benefits for earnings above the prescribed limits.

Government child care programs also provide higher benefits for single parent households, thereby disincentivizing marriage.

While the US Labor Force Participation Rate has been slowly rising over the past three years, it remains below the long-term average.

Source: YCharts

The U.S. economic system needs policies that positively incentivize work and productivity.

The Leviticus 25 Plan would benefit millions of American families by providing a major upgrade in financial security (massive debt elimination, positive savings/investments, improved health care access) while opening up additional work opportunities with higher income potential.

The Leviticus 25 Plan would positively encourage millions of additional able-bodied workers to be gainfully employed in the work force, filling millions of job openings across the U.S. – strengthening the economic system.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (7432 downloads)

America needs a powerful new plan to give people a helping hand up out of poverty, rather than continuing to simply feed and perpetuate it.

Current social welfare and entitlement programs perversely reward single-parent households (better benefits) and disincentivize work. They are riddled with fraud, abuse, and improper payments. And they are disproportionately feeding America’s snowballing annual federal deficits.

Washington Democrats and Republicans have no concrete plan to change any of this.

Main Street America Republicans do have a plan….

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Government expenditures on poverty programs have skyrocketed over the past three years.

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The Surprising Poverty Levels Across the U.S.

Oct 3, 2023 – Excerpts:

While low-income households struggled disproportionately, the average American household took hits as well. Median household income adjusted for inflation fell 2.3% last year to $74,580, The fastest rising inflation rate since 1981 dominated the gains of increased employment and rising wages.

California, Florida, and Mississippi have the highest poverty rates of any state

New York and Texas follow close behind

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Main Street America Republicans have the plan to get America back on course toward a prosperous future.

The Leviticus 25 Plan will free millions of American families who wish to be free from dependence on federal and state subsistence programs, and free from government control over their daily lives.

It will re-incentivize work, and reward traditional two-parent families. It will provide a significant clean-up of the social program fraud and abuse, and improper payments.

The Leviticus 25 Plan will generate $619.5 billion federal budget surpluses each of its first five years of activation (2024-2028) – and enormously benefit state and local government budget-balancing.

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 (7415 downloads)

Washington Democrats have set America on a downward glide-path to the ‘fiscal cliff’ where the U.S. Dollar crashes and the whirlwind of economic chaos wreaks its destruction across the land.

Washington Republicans are again in disarray with no viable plan to unite the party and resolve America’s debt crisis, and win votes from working-class Americans.

Main Street America Republicans, meanwhile, do have a plan – the most powerful economic acceleration plan on the face of the globe.

Sep-Oct 2023 Washington Democrats are pressing hard for ongoing, unrestrained deficit-spending and its corollary effects:  1) fueling the ongoing inflation crisis; 2) steepening the growth curve of America’s national debt; 3) weakening the U.S. Dollar’s status as the world’s reserve currency; 4) imposing ever-greater government control over the daily affairs of U.S. citizens; 5) and ultimately endangering our national security.

Washington Republicans have no viable, vote-winning economic plan (with real numbers), other than to lightly ‘tap the brakes’ on the Democrats’ tax, spend, and regulate big-government agenda.  Washington Republicans have no over-riding vision, no detailed plan with hard number projections, to get America up off its knees and back on track.

Headlines:

McCarthy Throws Fit, Accuses GOP Hardliners Of Wanting To “Burn The Whole Place Down” As Shutdown Looms – ZeroHedge, Sep 22, 2023 – Excerpt: House Speaker Kevin McCarthy has sent the House home for the week without a resolution on the looming government shutdown, after members of the Freedom Caucus refused to play ball, scuttling plans to pass a Continuing Resolution (a 30-day band-aid to avoid government shutdown), and putting 11 appropriations bills in jeopardy which McCarthy is hoping to pass in the next nine days.

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BREAKING: House Republicans Fail to Pass Short-Term Spending Bill as Government Shutdown Looms – Cristina Laila  TGP  Sep. 29, 2023

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Government Prepares Employees For Shutdown As Congress Rolls Out Last Ditch (DOA) Stopgaps – Meanwhile Gaetz guns for McCarthy…  SEP 29, 2023

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GOP created — and must clean up — shutdown mess – Star Tribune, Sep 26, 2023

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Speaker McCarthy ousted in historic House vote, as scramble begins for a Republican leader – (AP) Oct 3, 2023

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May 2023: – a look back…:

Debt-Ceiling Update: Washington Republicans Getting Pilloried Over Vague $4.8 Trillion Non-Defense Budget Cuts. “Meanwhile, Main Street America’s Republicans” Present Their Own Powerhouse, Debt-Busting Plan to Get the United States Back on Track.

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Washington Republicans are once again playing out a ‘losing hand’ with voters in this ongoing game of budget roulette. 

Washington Republicans right now have a golden opportunity, a once in a generation moment, to present a dynamic new winning plan for America – one that would put an end to these revolving-door debt ceiling impasses once and for all – and deliver a powerful debt-elimination strategy across all sectors of the U.S. economy, with major financial security gains for working Americans.  A plan that will strengthen America’s long-term national security interests.

Main Street America Republicans have just such a plan – loaded up and ready to launch.

The Leviticus 25 Plan economic acceleration plan that will provide a dynamic ‘recharge’ to the U.S. economy, generate meaningful budget surpluses, reestablish citizen-centered healthcare, and restore economic liberty in America. 

It will “unleash a new wave of prosperity” in America.

The Leviticus 25 Plan will generate $619 billion federal budget surpluses for the initial 5 years of activation (2024-2028), and completely pay for itself over the succeeding 10-15 years.

The Leviticus 25 Plan is a powerful 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 2023

Economic Scoring links:

·    The Leviticus 25 Plan – 2024 Generates $619.5 billion Federal Budget Surpluses (2024-2028) Part 1: Overview, Deficit Projection

·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 2: Federal Income Tax Recapture; Economic Security / Means-Tested Welfare Recapture.

·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 3: Medicaid, Medicare, VA, TRICARE, FEHB, SSDI Recapture.

·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 4: Interest Expense Recapture, Totals Summary

____________________________________________________________________ 

The Leviticus 25 Plan – An Economic Acceleration Plan for America 2024

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (7407 downloads)

Website:  https://leviticus25plan.org/

__________________________________________ 

Preview 1:

The Leviticus 25 Plan provides a $90,000 credit extension, direct from the Federal Reserve, to every participating U.S. citizen:  $60,000 into a Family Account (FA) and $30,000 into a Medical Savings Account (MSA).

Example:  Qualifying family of four would receive $240,000 in their FA, and $120,000 in their MSA.

Primary goals:  Massive debt elimination at family level: mortgage debt, consumer debt, student loan debt.  Federal budget surpluses.

Eligibility:  U.S. Citizen.  Job history, credit history requirement (similar to traditional credit checks for bank loans).  Clean recent drug history.  Clean crime history.

Requirements:  Forego all federal and state tax refunds for 5-year period.

Forego Economic Security and selected means-tested welfare benefits – for minimum 5-year period.

Forego enhanced federal rental forbearance/assistance – for minimum 5-year period.

Forego SSI and SSDI for minimum 5-year period.

New $6,000 deductible on primary care access to: Medicare, Medicaid, VA, TRICARE, FEHB – for minimum 5-year period.

The Plan assumes that the elite-wealthy will not participate, because their refunds are too valuable to give up over the requisite 5-year period.

The Plan also assumes that many who heavily depend on Economic Security and social welfare benefits will also choose not to participate, because the overriding value of those benefits, vs foregoing them, over the 5-year period.

Preview 2:

The Leviticus 25 Plan grants the same direct access to liquidity, through a Fed-based Citizens Credit Facility, similar to the credit facilities that were created by the Fed to transfuse trillions of dollars in direct transfers and credit extensions to Wall Street’s major banks, credit agencies and insurers during the great financial crisis. 

The following facilities were created and activated by the Fed for this massive Wall Street bail out operation: Term Auction Facility (TAF), Primary Dealer Credit Facility (PDCF), Term Securities Lending Facility (TSLF), currency swap agreements with several foreign central banks,  Commercial Paper Funding Facility (CPFF), Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), Money Market Investor Funding Facility (MMIFF), and the Term Asset-Backed Securities Loan Facility (TALF), and access to the Fed’s Discount Window.

Additional perspective:  SIGTARP, the oversight agency of the Troubled Asset Relief Program (TARP), in its July 2009 report, vetted by Treasury, noted that the U.S. Government’s “Total Potential Support Related to Crisis” (page 138) amounted to $23.7 trillion. While this figure represents a backstop commitment, not a measure of total potential loss, it is nonetheless an astounding degree of support, in the form of liquidity infusions, credit extensions and guarantees, various other forms of assistance for financial institutions and other business entities affected by the financial crisis.

Preview 3:

The Leviticus 25 Plan website has been accessed on one or more occasions by the following financial enterprises/agencies:  JP Morgan, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, Wells Fargo, State Street, Merrill Lynch, AIG, Barclays Plc, Royal Bank of Scotland, Deutsche Bank, Société Générale S.A, UBS AG, Credit Suisse, BNP Paribas, The U.S. Department of Treasury, General Accountability Office (GAO), The European Central Bank (ECB), Bank of England (BOE), Swiss National Bank (SNB), Bank of Canada, Bank of Montreal, Bank for International Settlements (BIS).

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The General Accountability Office has stated that America’s ongoing debt crisis is unsustainable.

It is time for America to institute a bold, new plan.

The Leviticus 25 Plan is loaded up and ready to launch.  The ‘golden moment’ for Republicans has arrived.

America’s government entities have a gargantuan debt problem.

The Leviticus 25 Plan has the solution.

Federal debt:  $32.9 trillion

State debt:  $1.27 trillion

Local debt:  $2.38 trillion

Source:  https://www.usdebtclock.org/

The U.S. Governmental Accountability Office

The Nation’s Unsustainable Fiscal Path

How much federal debt is held by the public — past, present, and future?

Debt held by the public is the total amount of money that the federal government owes to its investors. We compare projections of the debt (what is owed) to gross domestic product, or GDP (what is earned), to show the debt in relation to the size of the economy supporting it. Our annual report on the nation’s fiscal health, released May 2023, provides our latest projections. 

At the end of fiscal year (FY) 2022, federal debt held by the public was about 97% of the GDP.

The federal deficit in FY 2022 decreased 50% from FY 2021 to $1.4 trillion—but it was still the fourth largest deficit in U.S. history. The decline is attributable to higher tax revenue and lower federal spending due to the COVID-19 pandemic. You can learn more about the current financial condition here.

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The Leviticus 25 Plan would eliminate federal deficits and generate $619.5 billion surpluses each of the first five years of activation:

2023 Economic Scoring Update:

 ·    The Leviticus 25 Plan – 2024 Generates $619.5 billion Federal Budget Surpluses (2024-2028) Part 1: Overview, Deficit Projection

 ·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 2: Federal Income Tax Recapture; Economic Security / Means-Tested Welfare Recapture.

 ·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 3: Medicaid, Medicare, VA, TRICARE, FEHB, SSDI Recapture.

 ·    The Leviticus 25 Plan Generates $619.5 Billion Federal Budget Surpluses Annually (2024-2028). Part 4: Interest Expense Recapture, Totals Summary

The Leviticus 25 Plan would reignite a powerful long-term economic growth cycle with stronger revenue growth, and it would dramatically reduce participation in state and local government entitlement programs – thereby eliminating massive amounts of state and local debt.

In many of the well-managed state and local government entities, the balance sheet gains would be sufficiently large and sustainable to allow for broad-based tax cuts.

The Leviticus 25 Plan would generate dynamic new tax revenue flows and reduce dependence on government by U.S. citizens.

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 (7161 downloads)

‘No Lessons Have Been Learned.’ Why the Trillion-Dollar Coronavirus Bailout Benefited the Rich – TIME

June 18, 2020 – Excerpts:

When Congress passed the $2.2 trillion dollar Coronavirus Aid, Relief, and Economic Security Act (CARES) in late March, lawmakers were quick to tout its egalitarian guardrails.

Unlike the 2008 bailout packages, which funneled hundreds of billions to Wall Street and padded executives already-cushy pay packages, the CARES Act was shot through with provisions that lawmakers said would ensure that federal funds actually went to those in need. Any money loaned through the new $500 billion Federal Reserve program, for example, came with oversight measures, limits on stock buybacks and caps on executive compensation.

But nearly three months after the CARES Act’s passage, none of those guardrails appear to have made much of a difference. The disbursement of the money so far has been riddled with complaints and analyses showing it has disproportionately gone to the wealthiest corporations and individuals.

“No lessons have been learned [from the 2008 bailout]—it certainly seems that way,” says Neil Barofsky, who oversaw the Troubled Asset Relief Program as Inspector General under the Obama administration. Those much-talked-about guardrails that lawmakers imposed on the $500 billion Federal Reserve program, for example, have been mostly irrelevant so far. By June 17, the Treasury had committed to spending just $222 billion, less than half of the funds it was allocated. The rest of the roughly $1.7 trillion allotted through the CARES Act was not, for the most part, subject to the same restrictions.

A prime example of the market sector that benefited handsomely:  The KBW Bank Index showed an astounding 300% gain dating from the initial passage of the CARES Act in March 2020 through the end of 2022.

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The KBW Index is slumping again in 2023, and the Fed is once again providing emergency funding.

Bloomberg Sep 7, 2023 – Usage of The Fed’s emergency bank funding facility jumped by $328 Million last week to a new high of $108BN…

Source: Bloomberg

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The banking sector remains unsettled – Fitch “mulling over sweeping rating downgrades for dozens of banks, including ones as big as JPMorgan Chase.”

Fitch Warns Big Banks Face Downgrades

ZeroHedge, Aug 15, 2023 – Excerpts:

At the start of August, Fitch Ratings downgraded the US government’s top credit rating. Last week, Moody’s cut the credit ratings of small and midsized US banks because of higher funding costs, potential regulatory capital weaknesses, and rising risks tied to commercial real estate loans. Now, another week, another possible downgrade, this time of major banks.

Fitch analyst Chris Wolfe told CNBC another round of turmoil could be nearing for the banking industry. He said the ratings agency is mulling over sweeping rating downgrades for dozens of banks, including ones as big as JPMorgan Chase. 

“Another one-notch downgrade of the industry’s score, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70 US banks it covers,” Wolfe told CNBC at the firm’s New York headquarters. 

He continued, “If we were to move it to A+, then that would recalibrate all our financial measures and would probably translate into negative rating actions.”…

This comes one week after a triple whammy of factors of regional banks: Higher funding costs, potential regulatory capital weaknesses, and rising risks tied to CRE loans prompted Moody’s to lower credit ratings for ten small and midsize US banks; and noted in a slew of notes that it may downgrade major banks.

“Collectively, these three developments have lowered the credit profile of a number of US banks, though not all banks equally,” the ratings agency wrote in some of the assessments….

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S&P and Moody’s warn of “more pain ahead” for banks.

S&P Joins Downgrade Party Of US Banks Due To “Tough” Climate

ZeroHedge, Aug 22, 2023 – Excerpts:

Two weeks after Moody’s slashed ratings of regional banks on a ‘triple whammy of factors’, now S&P Global Ratings is joining the downgrade party. S&P is painting a grim picture for even more lenders due to higher interest rates and deposit outflows, according to Bloomberg. 

S&P wrote in a research note that a “tough” lending environment forced them to downgrade five banks – KeyCorp, Comerica Inc., Valley National Bancorp, UMB Financial Corp., and Associated Banc-Corp, one notch citing negative outlooks for River City Bank and S&T Bank. The rating agency said the review of Zions Bancorp remains negative.

The reason for the downgrades is because depositors have “shifted their funds into higher-interest-bearing accounts, increasing banks’ funding costs,” S&P said, adding, “The decline in deposits has squeezed liquidity for many banks while the value of their securities – which make up a large part of their liquidity – has fallen.”

S&P’s downgrades come two weeks after Moody’s slashed the ratings on ten small and midsize banks. It cited higher funding costs, potential regulatory capital weaknesses, and rising risks tied to commercial real estate loans as the reasons for the downgrade. 

“US banks continue to contend with interest rate and asset-liability management risks with implications for liquidity and capital, as the wind-down of unconventional monetary policy drains system-wide deposits and higher interest rates depress the value of fixed-rate assets,” Moody’s analysts Jill Cetina and Ana Arsov said in the accompanying research note.

Moody’s also warned there is more pain ahead: “We continue to expect a mild recession in early 2024, and given the funding strains on the US banking sector, there will likely be a tightening of credit conditions and rising loan losses for US banks.”

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Main Street America Republicans have the solution.

The Leviticus 25 Plan re-targets Fed liquidity flows in a way that will eliminate vast amounts of the ‘ground level’ debt that is strangling the U.S. economy.

It will shore up the balance banks of virtually every bank in America, large and small, by shifting troubled loans and delinquent credit card accounts back into a state of ‘currency.’

It will mitigate the ‘squeezed liquidity” and “rising loan losses” currently plaguing US banks.

It will set America back on course for a long-term economic growth cycle.

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 (7151 downloads)

The U.S. government has taxed working class Americans to pump enormous amounts of money into anti-poverty programs.

Heritage.org:  In his January 1964 State of the Union address, President Lyndon Johnson proclaimed, “This administration today, here and now, declares unconditional war on poverty in America.” In the 50 years since that time, U.S. taxpayers have spent over $22 trillion on anti-poverty programs.

The U.S. government has taxed working class Americans to pump vast sums of money into the U.N./IMF and the World Bank – large sums of which end up in the treasure chests of America’s avowed enemies. (e.g. World Bank’s Top 10 Biggest Debtors).

The U.S. government poured out over $15 billion in the Silicon Valley Bank bailout – in large part due to waiving the $250,000 federal deposit insurance limit for many of the wealthy depositors “that were in no real danger,” as noted in the Fortune article below.  

Fortune:  The FDIC has accidentally released a list of companies it bailed out for billions in the Silicon Valley Bank collapse

June 23, 2023 – Excerpt: “… the decision to guarantee all accounts above the $250,000 federal deposit insurance limit also helped bigger companies that were in no real danger. Sequoia Capital, the world’s most prominent venture-capital firm, got covered the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech company that runs mobile recruiting app Boss Zhipin, received a backstop for more than $900 million. 

The U.S. government and Federal Reserve pumped trillions of dollars of liquidity extensions and credit guarantees into major domestic and foreign banks and insurers during the 2008-2010 financial crisis, including:  Morgan Stanley, Bank of America, Citigroup, JP Morgan, Goldman Sachs, State Street, Wells Fargo, Merrill Lynch, AIG, Barclays, Deutsche Bank, Royal Bank of Scotland, UBS AG, BNP Paribas, and numerous others.

Thanks to the Federal Reserve, thousands of ultra-wealthy banking principles, insiders, and major investors did not have to take ‘a haircut.’

Meanwhile, meanwhile 8.8 millions jobs were lost, while at the same time, several of the very banks / mortgage servicing institutions receiving Fed liquidity extensions, turned right around and foreclosed on some 8.4 million homes during the crisis.

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Working class Americans are currently getting taxed from every imaginable angle:

Paradigm Life: Here are the 97 taxes in the US tax code:

1. Air Transportation Taxes
2. Biodiesel Fuel Taxes
3. Building Permit Taxes
4. Business Registration Fees
5. Capital Gains Taxes
6. Cigarette Taxes
7. Court Fines
8. Disposal Fees
9. Dog License Taxes
10. Drivers License Fees
11. Employer Health Insurance Mandate Tax
12. Employer Medicare Taxes
13. Employer Social Security Taxes
14. Environmental Fees
15. Estate Taxes
16. Excise Taxes On Comprehensive Health Insurance Plans
17. Federal Corporate Taxes
18. Federal Income Taxes
19. Federal Unemployment Taxes
20. Fishing License Taxes
21. Flush Taxes
22. Food And Beverage License Fees
23. Franchise Business Taxes
24. Garbage Taxes
25. Gasoline Taxes
26. Gift Taxes
27. Gun Ownership Permits
28. Hazardous Material Disposal Fees
29. Highway Access Fees
30. Hotel Taxes (these are becoming quite large in some areas)
31. Hunting License Taxes
32. Import Taxes
33. Individual Health Insurance Mandate Taxes
34. Inheritance Taxes
35. Insect Control Hazardous Materials Licenses
36. Inspection Fees
37. Insurance Premium Taxes
38. Interstate User Diesel Fuel Taxes
39. Inventory Taxes
40. IRA Early Withdrawal Taxes
41. IRS Interest Charges
42. IRS Penalties
43. Library Taxes
44. License Plate Fees
45. Liquor Taxes
46. Local Corporate Taxes
47. Local Income Taxes
48. Local School Taxes
49. Local Unemployment Taxes
50. Luxury Taxes
51. Marriage License Taxes
52. Medicare Taxes
53. Medicare Tax Surcharge On High Earning Americans Under Obamacare
54. Obamacare Individual Mandate Excise Tax
55. Obamacare Surtax On Investment Income
56. Parking Meters
57. Passport Fees
58. Professional Licenses And Fees (another form of taxation)
59. Property Taxes
60. Real Estate Taxes
61. Recreational Vehicle Taxes
62. Registration Fees For New Businesses
63. Toll Booth Taxes
64. Sales Taxes
65. Self-Employment Taxes
66. Sewer & Water Taxes
67. School Taxes
68. Septic Permit Taxes
69. Service Charge Taxes
70. Social Security Taxes
71. Special Assessments For Road Repairs Or Construction
72. Sports Stadium Taxes
73. State Corporate Taxes
74. State Income Taxes
75. State Park Entrance Fees
76. State Unemployment Taxes (SUTA)
77. Tanning Taxes
78. Telephone 911 Service Taxes
79. Telephone Federal Excise Taxes
80. Telephone Federal Universal Service Fee Taxes
81. Telephone Minimum Usage Surcharge Taxes
82. Telephone State And Local Taxes
83. Telephone Universal Access Taxes
84. The Alternative Minimum Tax
85. Tire Recycling Fees
86. Tire Taxes
87. Tolls
88. Traffic Fines
89. Use Taxes
90. Utility Taxes
91. Vehicle Registration Taxes
92. Waste Management Taxes
93. Water Rights Fees
94. Watercraft Registration & Licensing Fees
95. Well Permit Fees
96. Workers Compensation Taxes
97. Zoning Permit Fees

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Washington Democrats and Republicans have no plans of redress for working American families bearing the brunt of their taxing / spending/ inflation-driving high deficit policies.

Main Street America Republicans do have a plan – one that will instantaneously eliminate vast quantities of debt for America’s middle-income earners and ‘destress’ small businesses across the land.

The Leviticus 25 Plan will re-incentivize work, expand the work force, and increase productivity.

It will grant millions of American families the same direct access to liquidity that was provided to Wall Street’s financial sector (2008-2010) – to allocate freely and directly according to their discretionary needs (housing upgrades, transportation upgrades, stay-at-home opportunities for raising a family, child-care services, education, job-training, health-care access, quality of life improvements.  

The most powerful economic plan in the world:

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 (7063 downloads)

Washington Admits Fraudulent Accounting Again – WSJ

CBO flags a $66 billion Beltway bamboozlement.

By James Freeman, Aug. 22, 2023 – Excerpts:

You have to laugh or cry when the Congressional Budget Office issues an occasional reminder that lawmakers use bogus accounting to hide from taxpayers the true cost of federal programs. Give CBO credit for honesty as it points out how required official estimates are at odds with real-world bookkeeping. Last week CBO explained how its new report on federal support for consumer and business lending measures the downside:

The report shows two kinds of estimates: those currently used in the federal budget, which are made by following the procedures specified in the Federal Credit Reform Act of 1990 (FCRA), and those referred to as fair-value estimates, which measure the market value of the government’s obligations…

Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2024 would cost the federal government $10.9 billion over their lifetime. But using the fair-value approach, CBO estimates that those loans and guarantees would have a lifetime cost of $76.7 billion.

The fair-value estimate is 10 times what Beltway accounting claims!….

A government that habitually embraces such financial shenanigans over decades could someday run up a debt of $32.7 trillion.

Now that someday has arrived, the question is when the reckoning will occur…..

Net interest costs hit 14 percent of tax revenue in July, the level we consider the inflection point for fiscal policy, and, not surprisingly, the bond market has reacted. The next president faces a dour fiscal environment: high deficits despite low unemployment, rising net interest costs, a demographic strain that is pulling forward the insolvency of Social Security, and fewer international buyers of US Treasuries. If that is not enough, all the Trump tax cuts for individuals and the generous Obamacare subsidies expire in 2025….

At near full employment, the budget deficit should be much lower than it is today. A slight increase in unemployment and deficits can balloon quite quickly on top of the interest costs… ultimately Congress will need to act on entitlements like it did in 1983, the last time net interest costs surged.

Perhaps the candidates at this week’s Republican presidential debate will be kind enough to offer plans for serious governing. Reforming entitlements would be a good place to start. The watchdog group Truth in Accounting figures the real federal debt is not $33 trillion but more like $159 trillion if one counts all the unfunded Social Security and Medicare promises.

Swearing off accounting frauds would also be a good place for reformers to start.

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Question: Did any of the Republican presidential candidates in this weeks’ first debate offer up any “plans for serious governing”… and addressing entitlement reform..?

Answer: No.

Solution: Main Street America Republicans have just such a plan.

The Leviticus 25 Plan will produce not only balanced budgets each of the first five years of activation, it will generate $619.5 billion annual budget surpluses for the U.S. Dept of Treasury.

This powerful plan will also vastly reduce entitlement program participation, eliminate trillions of dollars of household debt, and bolster the financial security of millions of American families for years to come.

It will set America up for a healthy, long-term economic growth cycle.

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 (6887 downloads)

Twenty-nine years ago, Republicans seeking new terms in the U.S. House of Representatives formulated a bold new vision, a “Contract with America,” to restore honesty and trust in government, get America’s fiscal house back in order, and revitalize The American Dream.

Republicans won buy a landslide and took control of the U.S. House of Representatives in the November election.

Note – Aug 21, 2023 – Washington Republicans have no plan.

Main Street America Republicans do have a plan…

……………………………………………

University of Delaware historical review – Contract with America

Highlights / Excerpts:

Background: On Tuesday, September 27, more than 300 Republicans hoping to serve in the House of Representatives next year will gather on the steps of the United States Capitol to unveil a proposed “Contract With America,” the ten bills Americans would see in the first 100 days of the first republican controlled House in 40 years.

After nearly two years of the most promise-breaking, waffling and spin-addicted White House in history, the public has grown cynical of promises to provide middle-class tax relief, reform welfare, restore accountability to congress and cut spending. And after 40 years of one party control of the House, they no longer feel they have the power to hold their elected representatives accountable. The Contract will allow people to hold us accountable, measure our performance and, if we break the contract. throw us out….

With the prospect of working control, if not numerical control, of the House in the next Congress, it is our responsibility to present a clear vision of how republicans would govern. After swearing in the first republican Speaker since Joe Martin (R-MA) in the 83rd Congress, we will on the first day of session cut the number of committees and subcommittees, cut committee staff by one-third, ban proxy voting, require a three-fifths vote to pass any tax increase, eliminate “baseline” budgeting and use honest numbers, and announce an audit of the House’s books.

After changing the way the House conducts business, we will change the kind of business the House has been conducting. Instead of passing bills that pile taxes, spending regulations ever higher, we’ll scale back the size of government to make it more efficient and ease the burden on taxpayers and small business people.

In the first 100 days, we’re pledging in writing to bring to a vote:

• A balanced budget amendment and line item veto;
• A crime bill that funds police and prisons over social programs;
• Real welfare reform;
• Family reinforcement measures that strengthen parental rights in education and child support enforcement;
• Family tax cuts;
• Stronger national defense;
• A rise in the Social Security earnings limit to stop penalizing working seniors;
• Job creation and regulatory reform policies;
• Common sense legal reforms to stop frivolous lawsuits; and
• A first-ever vote on term limits for members of Congress.

……………..

Rep. Dick Armey (R-TX) “Contract with America,” Sep 27, 1994 – Excerpts:

Today we enter a new era in American government. Today, one political party is listening to the concerns of the American people and responding with specific legislation. We are united here today — over 150 current Members of the House and over 200 candidates — united in the belief that “the people’s House” must be wrested from the grip of special interest groups and handed back to “the people.”

Americans today are cynical. They are tired of broken promises, tired of being misled, tired of “spin” from a White House that seems to govern on the principle that you can fool all of the people some of the time….

If the American people are willing to let us, we’re willing to change all that.

Today, we Republicans are signing a “Contract with America.” We pledge ourselves, in writing, to a new agenda of reform, respect, and renewal: Reform of congress and other government institutions. Respect for the people we serve and represent. And renewal of the American Dream that each day seems to slip further from the grasp of too many families.

We make this explicit offer: Give us majority control of the House of Representatives for the first time in four decades and we will bring to the House floor on the first day real Congressional Reforms. In the first 100 days, we will bring to a vote ten bills that would have an immediate and real impact in the lives of ordinary Americans.

We will bring all these bills to the floor for an up or down vote, with open and fair debate, where everyone’s views are heard as we embark on a new direction for congress and a new partnership with the American people.

We put these bills in a contract so people can hold us accountable — and there’s an enforcement clause. We explicitly state, “If you give us control and we don’t do what we say, throw us out.” We mean it, and we take it as an article of faith that the American people will mean it, too….

Our Contract with America is just the opening one hundred days of accountable government. The Contract is not the answer to every problem facing America today. It is an honest beginning, and an effort to invest this election with some positive meaning, because running solely against an unpopular president would only deepen the public’s cynicism.

…. After 40 years of uninterrupted control, the Democrats have exhausted every other possibility, and it is time for the Republican party to accept the role of leadership the American people are demanding. Today we pledge to begin by bringing relief to the average family, which now pays more in taxes than food, shelter and clothing combined; cutting the size and influence of the federal government; and restoring accountability to the political process.

In short, we propose to cede back power from the hallowed halls of Congress to the more hallowed kitchen tables of America, where night after night families bow their heads in thanks and make decisions about education, charity, jobs, spending, debt, and values with a wisdom and compassion that no number of agency heads, cabinet secretaries or members of congress could ever match.

Our contract recognizes the limits of government and the unlimited contribution of husbands and wives, mothers and fathers, children and grandparents in a safe and prosperous America.

It is now my pleasure to introduce Congressman Bill Paxon of New York, who chairs the National Republican congressional Committee….

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.

____________________________________

It is time for a new Contract with America, one that builds on the 1994 contract, to: 1) Get America’s enormous fiscal deficits back under control; 2) Minimize the scope of government control over the daily lives of citizens; 3) Require Congress, along with the Executive and Judicial branches of government, to live under the exact same laws and mandates that they force upon the people; 4) Restore 100% border security to America’s northern and southern borders, and welcome only those guest workers / visitors who enter America legally, respect America’s laws, and earnestly seek to make America better and stronger.

This new Contract with America, hereby sponsored by Main Street America Republicans, begins with the most powerful economic acceleration plan in the world:

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (6860 downloads)

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August 2023 quote:  President Ronald Reagan:  “I know that it is fashionable in some circles that no one in government should encourage others to read the Bible.  We are told that will violate the Constitutional separation of church and state, established by the Founding Fathers.  The First Amendment was not written to protect people and their laws from religious values. It was written to protect those values from government tyranny.”