The breathless headlines about an alleged Iranian plot to kill the US Ambassador to South Africa in retaliation for the US assassination of Iranian General Soleimani captured everyone's attention over the past few days. President Trump threatened Iran with destruction if they even think about it. But behind the headlines, is there anything to this story? Or is it just another in a long line of scare stories "leaked" by anonymous "US officials" all meant to control the foreign policy narrative? Also in today's program, the bizarre UK move to encourage citizens to spy on their neighbors - soon coming to our shores?
A federal judge in Pennsylvania yesterday blew the top off of the massive authoritarian over-reach by governors throughout the country, ruling that Pennsylvania's governor and state health official violated the US Constitution in exercising what it claimed were "emergency powers" in response to the coronavirus outbreak. Will the judge's ruling begin to break down the wall of authoritarianism in the US? Also today, the state of Texas has employed shockingly inaccurate and shoddy testing and reporting methods, resulting in policy decisions being made without accurate information. As even the New York Times has noticed deep problems in Texas, state health authorities are rushing to clean up the mess they've made of things. With new and more accurate numbers showing far fewer infections, will the governor finally lift his tyrannical restrictions on Texans?
By Ron Paul
According to the Congressional Budget Office’s (CBO) latest “Update on the Budget Outlook,” this year’s $3.3 trillion federal deficit is not just three times larger than last year: it is the largest federal deficit in history. The CBO update also predicts that the federal debt will equal 104 percent of the gross domestic product (GDP) next year and will reach 108 percent of GDP by 2030.
The CBO update also shows that the Social Security, Medicare, and highway trust funds will all be bankrupt by 2031. This will put pressure on Congress to bail out the trust funds thus further increasing the debt.
This year’s spike in federal spending was caused by the multi-trillion dollar coronavirus relief/economic stimulus bills passed by Congress and signed by the president. However, spending had already increased by $937 billion from the time President Trump was sworn in until the lockdown.
Federal spending is unlikely to be reduced no matter who wins the presidential election. Former Vice President Joe Biden has proposed increasing spending on everything from Obamacare to militarism to “green” cronyism. Yet some progressives are attacking Biden for being to “stingy” in his spending proposals. Even more distressing is how few progressives are critical of Biden’s support for increasing the military budget.
With some notable exceptions, such as his infrastructure plan, President Trump is not proposing any massive new spending programs. However, he Is not promising to stop increasing, much less cut, federal spending.
Most Republicans have abandoned their Obama-era opposition to deficit spending to support President Trump’s spending increases. This repeats a pattern where Republicans oppose deficit spending under a Democrat president but decide that “deficits don’t matter” when a Republican is sitting in the Oval Office. If Biden wins in November, Republicans will likely once again discover that deficits do matter, especially if Democrats also gain control of the Senate.
Government spending forcibly takes resources from the private sector, where they are used to produce goods and services desired by consumers, and puts them in the hands of politicians and bureaucrats. This distorts the market, reducing efficiency and lowering the people’s standard of living. This, combined with pressure to monetize the federal debt, causes the Federal Reserve to pump money into the economy leading to a boom-bust business cycle.
Unless Congress begins reducing spending, the coming economic crisis will be even worse. The logical place to start cutting spending is ending all unnecessary overseas commitments, corporate welfare, and shuttling down all unconstitutional federal agencies — starting with the Department of Education.
The savings from these cuts can be used to start paying down debt and providing for those truly dependent on the current system while we transition away from the welfare state. Private charities, including ones run by religious organizations, are better than government bureaucracies at providing effective and compassionate aid to those in need.
Most politicians will not vote to curtail the welfare-warfare state unless their constituents demand it. The people will not demand an end to big government as long as so many believe that the government has a moral responsibility to, and is capable of, providing them with economic and personal security.
Therefore, our priority must be on getting people to reject the entitlement mentality and embrace the philosophy of liberty and personal responsibility. This will enable us to build a movement capable of convincing politicians to stop voting for more spending and debt and instead vote to respect the Constitutional limitations on government in all areas.
Last week's bombshell that President Trump told WaPo writer Bob Woodward he was trying to "downplay" the coronavirus so as to not panic the population resulted in the usual hysteria from the president's critics. Was it an incredibly reckless and dangerous approach...or did it make good sense? Plus in today's Liberty Report: New poll shows America is sick of Fauci - is it a surprise? Also, panic over the "casedemic" continues as US hospitals empty for lack of Covid patients. Still the scaremongering continues in the media.
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By Liberty Report Staff
According to a CNBC/Change Research poll, most voters in six swing states don't consider either Trump or Biden as 'mentally fit' to be president. But can anyone be mentally fit to do the impossible? The US Presidency has been warped into something it wasn't ever intended to be. The President was never intended to try to "run" America, let alone the entire world! Both are impossibilities, and no degree of 'mental fitness' can make either one possible.
Fresh off a viral video on Facebook, Montgomery County Judge Mark Keough joins today's Liberty Report with a clear message to Texas political leaders from local mayors all the way to the Governor's office: the measures taken to fight coronavirus in Texas have not made one bit of difference. Masks or no masks, lockdowns or no lockdowns, the survival rate for those infected with the coronavirus is more than 99 percent. It is time to open Texas up completely. 100 percent! Also, Judge Keough explains why Governor Abbott's "mask mandate" is no such thing.
By Chris Rossini
The ideas of Liberty are explicitly concerned with the relationship between one individual and another. Liberty does not mean "every man for himself," or "you have to look out for number one," or any of the other absurd smears from those who desire power to boss others around.
On the contrary, the ideas of Liberty are rooted in the principle of non-aggression. When dealing with others, trade with them voluntarily, exchange with them peacefully. Do not use aggressive or violent force to get the things that you want.
John Locke spoke of "Life, Liberty & Property." Very similarly, The Declaration of Independence enshrined the words "Life, Liberty & The Pursuit of Happiness."
In a free society, rooted in the ideas of Liberty, everyone is free to "Pursue Their Happiness." But in that pursuit, one must do no harm to another person's "Life." One must do no harm to another person's "Liberty." One must do no harm to another person's "Property."
These ideas shook the world. They built the biggest middle class to ever exist in the history of the world.
The role of government should be to adjudicate and punish those individuals that choose to pursue their happiness by harming another person or their property. The role of government is to protect individual liberty.
Peaceful and voluntary relations between individuals made America a magnet to people from all over the world. People wanted to come here to be free!
What did they want to be free from?...They wanted freedom from the exact opposite of Liberty & Peace. They ran here to escape Tyranny & War.
Randolph Bourne accurately stated that "War is the Health of the State." There's a perfectly logical reason as to why, when you look through history, you're greeted with one war, followed by another, and another.
War benefits those people who take, at the expense of those people who make. War and the associated fears (real or imagined) act as the perfect excuse to get productive people to sacrifice their liberty, their property, and sometimes even their lives.
War is the ultimate siphon. It redistributes from the bottom, up. It creates the all-too-familiar historical environment of the wealthy few, and the poverty-stricken many. War prohibits the formation of a prosperous middle class.
For those who are just joining us, the policy that the United States of America has been pursuing since the so-called "progressive era" began is one of continuous and endless war.
War does not have to be a violent endeavor. Politicians learned long ago that they can wage war on anything that they want. Look at what they've done in the name of a "War on Drugs". Look at how their "War on Poverty" creates nothing but more poverty. Look at what they've done in the name of a war on a virus!
Tyranny and War go hand-in-hand.
It doesn't have to be this way.
Liberty & Peace are always an option.
America, since its founding, has now experienced both a general condition of Liberty & Peace, as well as a general condition of Tyranny & War.
The choice should be obvious as to which America is superior.
Perhaps someday American can and will be "Great Again." Who knows? But it will never happen with the modern conception of government that aggressively wages war on anything and everything. It'll never happen when government is in the foreground overwhelming society, rather than being a non-issue that is in the background.
American can only be great again when the American people want Liberty & Peace, and the role of government is to protect it.
A Norwegian lawmaker has nominated President Donald Trump for a Nobel Peace Prize for his work facilitating the recent UAE/Israel agreement. Trump is accused of shooting from the hip - at least verbally - and his presidency is marked by significantly increased military spending. But is there some logic to the nomination? Especially considering the last US president to receive a Nobel Peace Prize?
By Ron Paul
Federal Reserve Chairman Jerome Powell recently announced that the Fed is abandoning “inflation targeting” where the Fed aims to maintain a price inflation rate of up to two percent. Instead, the Fed will allow inflation to remain above two percent to balance out periods of lower inflation. Powell’s announcement is not a radical shift in policy. It is an acknowledgment that the Fed is unlikely to reverse course and stop increasing the money supply anytime soon.
Following the 2008 market meltdown, the Fed embarked on an unprecedented money-creation binge. The result was historically low interest rates and an explosion of debt. Today total household debt and business debt are each over 16 trillion dollars. Of course, the biggest debtor is the federal government.
The explosion of debt puts pressure on the Fed to keep increasing the money supply in order to maintain low interest rates. An increase in rates to anything close to what they would be in a free market could make it impossible for consumers, businesses, and (especially) the federal government to manage their debt. This would create a major economic crisis.
The Fed has also dramatically expanded its balance sheet since 2008 via multiple rounds of “quantitative easing.” According to Bloomberg, the Fed is now the world’s largest investor and holds about one-third of all bonds backed by US home mortgages.
Congress has expanded the Fed’s portfolio by giving the central bank authority to make trillions of dollars of payments to business as well as to state and local governments in order to help the economy recover from the unnecessary and destructive lockdowns.
Contrary to what most “mainstream” economists claim, a general increase in prices is an effect — not a cause — of inflation. Inflation occurs whenever the central bank creates money. Increasing the money supply lowers interest rates, which are the price of money, distorting the market and creating a bubble (or bubbles) that provides the illusion of prosperity. The illusion lasts until the inevitable crash. Since the distortions come from money creation, the system cannot be “fixed” by just requiring the Fed to adopt a “rules-based” monetary policy.
Once the lockdowns end, the Fed’s actions may lead to a short-term boom. However, the long-term effect will be even more debt, continued erosion of the average American’s standard of living, and the collapse of the fiat money system and the welfare-warfare state. The crisis will likely be brought on by a rejection of the dollar’s reserve currency status. This will be supported both by concerns about the stability of the US economy and resentment over America’s hyper-interventionist foreign policy.
The question is not if the current system will end. The question is how it will end.
If the end comes via a meltdown, the result will likely be chaos, violence, and increased support for authoritarian movements as desperate people trade their few remaining liberties in hopes of gaining security.
However, if pro-liberty Americans are able to force Congress to begin cutting spending — starting with the money wasted on militarism — and to move toward restoring a sound and sane monetary policy that includes ending the Federal Reserve, we can minimize an economic crisis and begin restoring limited constitutional government, a free-market economy, and respect for liberty.