Tag: Debt crisis

Open Letter to Sen. McSally: Real Help for Arizona Recovery and America Reopening

 

Senator McSally, I deeply admired your real courage when we were both young field grade officers, you in the Air Force and me in the Army. Your stand for the Constitution against the House of Saud and the Pentagon was principled and made a real difference. I greatly worry that you are on track to become a two-time loser in races for the US Senate. You can win big by returning to your roots and doing the right thing for millions of Arizonans. You must persuade Sen. McConnell to make personal and real small business “COVID-19 debt” 100% tax credit refundable on the next two quarterly tax payment dates: rent, mortgage, lease, and car/truck payments between the end of March 2020 and 1 July 2020.

The national and state executives, with the complicity of the Congress and state legislatures, crushed at least tens of millions of Americans’ lives, driving them into massive debt from which they cannot reasonably recover. All the federal programs so far have been good as far as they went, but did not get at the basic problem.

People are falling hopelessly behind on apartment/home rent, mortgages, business property leases, and car/truck payments. Make the property managers, mortgage holders, and vehicle note-holders an offer they cannot refuse. Make every dollar they forgive between the end of March and the end of June immediately 100% refundable on their quarterly tax payments at the end of June and September. This will be massive, but it is the actual cost of the decisions made by President Trump, affirmed by you, and the governors, affirmed by the state legislatures’ non-objection.

Reward Merciful (and Wise) Behavior

 

“Therefore the kingdom of heaven may be compared to a king who wished to settle accounts with his servants. When he began to settle, one was brought to him who owed him ten thousand talents. And since he could not pay, his master ordered him to be sold, with his wife and children and all that he had, and payment to be made. So the servant fell on his knees, imploring him, ‘Have patience with me, and I will pay you everything.’ And out of pity for him, the master of that servant released him and forgave him the debt. But when that same servant went out, he found one of his fellow servants who owed him a hundred denarii, and seizing him, he began to choke him, saying, ‘Pay what you owe.’ So his fellow servant fell down and pleaded with him, ‘Have patience with me, and I will pay you.’ He refused and went and put him in prison until he should pay the debt. When his fellow servants saw what had taken place, they were greatly distressed, and they went and reported to their master all that had taken place. Then his master summoned him and said to him, ‘You wicked servant! I forgave you all that debt because you pleaded with me. And should not you have had mercy on your fellow servant, as I had mercy on you?’ And in anger his master delivered him to the jailers, until he should pay all his debt. So also my heavenly Father will do to every one of you, if you do not forgive your brother from your heart.”

—Matthew 18:21-35 English Standard Version (ESV)*

A major rental property management company sent out a message to all its renters across the country, saying that no one would face eviction for non-payment during this government-induced economic catastrophe. I suspect there are many businesses that are similarly behaving well. It seems to me that the endpoint will still be renters, both residential and small businesses, who are so far behind that they will not be able to get out from under the debt.

Why Nobody Cares About the Climate, er, Debt Crisis

 

I’ll be as upfront as I can: this is not going to be a sophisticated analysis of the budget deficit, the national debt, and its implications on the economy going forward. What it is going to be, is the perception of ordinary people who know full well that all that stuff is way over their heads, and only have what they see and how their lives are going to judge the state of things by.

But first, a divergence into the seemingly unrelated issue of climate change. Why are initiatives such as the Green New Deal failing to catch on outside the most politically connected circles on the coasts? Sure, in the case of the GND specifically, you could argue it’s poorly written with highly impractical and arguably counterproductive goals. But I’m speaking in the general sense. Why is the hysteria of impending climate doom not having a whole lot of impact with any but the most politically aware voters?

Member Post

 

Mate De has a post up- http://ricochet.com/is-something-brewing/#comments My concern is that our humongous debt, nearly $20 trillion, and our obstinate unwillingness to confront it, may be leading to a calamity. I’m  inclined to assume that if  (or when?) the US has a Latin American-style debt crisis, the left’s response will mirror that of Argentine President Kirchner. […]

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