Thursday, September 23, 2010

JFK - The Fiscal Conservative

Edward Kennedy Jr. is all in a snit about the McMahon campaign using footage of one of President John F. Kennedy's speeches, to bring home the message that lower taxes help the economy. (and JFK was right!)

Kennedy also said this:
"The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy."

It's so fun to see the Kennedy heirs having kittens over this McMahon campaign ad - They just can't accept that by today's standards JFK would most likely be a Republican.

When John F. Kennedy ran for office, he ran on a platform of tax cuts, strengthening American defense (particularly missile defense) and prosecuting the Cold War. He was very anti-Communist and he was very pro-military. He was a Hawk by today's standard.
Think that would fly in the Democratic party these days? Not likely.

And John F. Kennedy was also making moves to End the Federal Reserve (some even claim this was what really led to his assassination)
On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business....

President Kennedy's Executive Order 11110 gave the Treasury Department the explicit authority: "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This means that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation based on the silver bullion physically held there. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated. It appears obvious that President Kennedy knew the Federal Reserve Notes (FRN) being used as the purported legal currency were contrary to the Constitution of the United States of America.... Kennedy knew that if the silver-backed United States Notes (USN) were widely circulated, they would have eliminated the demand for Federal Reserve Notes.

This is a very simple matter of economics. The USN was backed by silver and the FRN was not backed by anything of intrinsic value. Executive Order 11110 should have prevented the national debt from reaching its current level (virtually all of the nearly $9 trillion in federal debt has been created since 1963) if LBJ or any subsequent President were to enforce it. It would have almost immediately given the U.S. Government the ability to repay its debt without going to the private Federal Reserve Banks and being charged interest to create new "money". Executive Order 11110 gave the U.S.A. the ability to, once again, create its own money backed by silver and realm value worth something.
John F.Kennedy also stood up to the Communists (Re: Bay of Pigs) - and he'd be appalled to see they have taken over his party.

He would probably also be loathe to see all the entitlements people receive from government ... remember he was the one who said, "And so, my fellow Americans, ask not what your country can do for you; ask what you can do for your country." Sage words.

So, Edward Kennedy Jr. can do all the finger wagging and foot stomping he wants.. but the Democrat party of JFK is officially dead, and what is in it's place calling itself the Democrat Party is the American Progressive Socialist movement backed by union thugs and anti-Constitution anti-Liberty statists. JFK is probably rolling in his grave.

It's about time that all today's Democrats whose parents were Democrats back in JFK's time understand who and what is driving their party creating poverty and government dependency, stifling business and restricting our rights, while creating enormous debt for our children.

Today's Marxist Left which has hijacked the Democrat party would probably call ole Jack an "End the Fed" Rightwing Extremist Teabagger!

That being said:

November 2nd - Vote these Marxists out!

In CT, "the Marxist 5" are: John "Lenin" Larson, "Red" Rosa DeLauro, Jim Himes, Joe Courtney, and Chris Murphy. And please don't let Dick "I served in Vietnam" Blumenthal anywhere near Washington DC!

1 comment:

ccdemuth said...

Accountability Autumn Follows “Recovery” Summer

We are at the end of Recovery Summer and beginning of Accountability Autumn. Our incumbent congressman, Jim Himes, is running for re-election in a tough economic and political climate for incumbents with his voting record. Across the country, incumbents such as Himes are downplaying their votes for the stimulus, Obamacare, and record deficits. While Congressman Himes may be vulnerable this year, the 2010 election may also be a great opportunity for him if he is able to survive. That is because 2010 will be as bad as it gets for Himes in terms of accountability. If he can get a majority of voters to accept the status quo, then he will be practically invulnerable in future elections. Generally, incumbents face their toughest re-election battle after their freshman term. In this case, Himes’ first term ends amidst 10% unemployment. Two out of three voters in his district under the belief that Washington is on the wrong track. If he can overcome those odds, then he can do anything –- set aside his campaign season moderation and vote how he pleases in the future. If Himes can win this election, then Accountability Autumn may become as big a failure as Recovery Summer. So the question before the voters is whether or not the status quo is good enough. Because there may not be another chance at an Accountability Autumn like this one.