Archive for February, 2009

Bailout?

Posted in Bailout, Political Discussion on February 9th, 2009 by paulo – 2 Comments

The Senate is currently debating the stimulus package, which is an attempt to “rescue” our economy.  Here is food for thought thought.  The reason the economy is in such dire straits, is primarily due to the excessive debt held by so many consumers.  So to suggest that we can “rescue” them with another $800 billion in Federal debt seems almost ludicrous.  It’s like we are all drowning and the government says, “Well we all need water, so let’s throw them a bunch of water.”

As a counter argument here is the thought.  Americans took on a lot of debt (primarily to buy a home etc.), under the assumption that they would be able to eventually make more money and therefore cover the cost of that new bigger mortgage.  They had a belief about the future.  Well now the future is bleak as capital has all but disappeared for businesses.  So people are laid off as companies cannot make it through this hard time with their borrowings.  To  make matters worse for companies, commodity price have all shriveled up (oil, gas, copper etc), causing more lay-offs, causing a self-defeating death spiral.  The government has the credit to kick start the economy, throwing money to all parties in order to “prime the pump” and get the economic engine running again.  The 800 billion is less than 10% of the total GDP, but should be enough to really help out.

With these two arguments it’s hard to make up one’s mind about who is right and who is wrong.  It is the belief of the author that the economy does need help, however, a massive government spending program is not the answer.  The answer is to cut taxes, and DECREASE government spending on pork-barrel projects.  Lower taxes will change the behavior of citizens as it will dramatically change the future projected earnings for each person.  As an case example, please consider the country of Ireland, which not too long ago was drowning in 50%+ taxes which companies and citizens could not pay.  More and more people were losing their jobs and the country (being socialist) was desperately trying to serve all the people.  When a novel idea was heard and executed.  Let’s cut taxes to 0-10%.  Now Ireland enjoys a GDP per capita nearly twice that of the rest of Europe.

Article 1 Section 3 Continued

Posted in Article I, Constitution as Written on February 9th, 2009 by admin – Be the first to comment

“No person shall be a Senator who shall not have attained to the Age of thirty Years, and been nine Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State for which he shall be chosen.

The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided.

The Senate shall chuse their other Officers, and also a President pro tempore, in the absence of the Vice President, or when he shall exercise the Office of President of the United States.

The Senate shall have the sole Power to try all Impeachments. When sitting for that Purpose, they shall be on Oath or Affirmation. When the President of the United States is tried, the Chief Justice shall preside: And no Person shall be convicted without the Concurrence of two thirds of the Members present.

Judgment in Cases of Impeachment shall not extend further than to removal from Office, and disqualification to hold and enjoy any Office of honor, Trust or Profit under the United States: but the Party convicted shall nevertheless be liable and subject to Indictment, Trial, Judgment and Punishment, according to Law.”

Age requirements for senators are slightly more stringent than representatives (see our previous post) in that you cannot become a senator until you are age 30. This goes along with the overall apparent prestige of the senate, in that the group is more mature and has longer terms. We could think of this group as being similar to the House of Lords in the British bicameral model.

It has been asked, “What does the Vice President of the United States do?” Well the Vice President as quoted above is the President of the Senate and can cast tie-breaking votes. As an interesting historical note, John Adams, one of the founding fathers and first Vice President, felt that as president of the Senate he should take a very active role-so active in-fact that it was nearly voted that the president of the Senate should be silent except for procedural items. John Adams does have the record for casting the most tie-breaking votes at 29 though.

The section also explains that the Senate shall have the power to try impeachments. This has come into play in our Nation’s history only a few times. Most recently was the impeachment of President William Clinton. If you recall President Clinton was impeached by the House, but the Senate voted to acquit President Clinton on all charges. What good luck.