On the recordMay 31, 2011
Why are we in debt? We borrow trillions for wars in Afghanistan and Iraq, trillions for tax cuts for the rich. We borrow billions from China and Japan. We have plenty of money for war, Wall Street, and welfare for the wealthy; but when millions of honest Americans need jobs, need wage increases, need health care, need education, need retirement security, they're told no, we don't have the money. How is it that the Fed can create trillions of dollars to give to the banks but the U.S. can't meet its needs without going into debt to banks? The financial system works for a few at the expense of the many. The Founders did not intend for America to be run by big banks and Wall Street. The Constitution put the ability to create money in the hands of Congress. The Fed took away that power in 1913. We need to get that power back to invest in our economy, to create jobs, to put America back to work, to rebuild America without going into debt. We must reclaim our destiny by reclaiming control over the money system. ____________________
