FOX: DeMint on Jobs Plan, Stimulus Package

Sen. Jim DeMint (R-S.C.) speaks with FOX Business News' Alexis Glick about the latest jobs report, the jobs plan he is proposing and the latest on the stimulus package being considered by the Senate (Feb. 6, 2009).

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News & Politics

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• demint
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• business
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• jobs
• report
• 18
• million
• stimulus
• package

[batgirl791]

Abolish the FED, that's the answer. Get rid of fractional reserve banking.

[Butterflybreakfast]

Jim please cosponsor HR 833!!!

H.R.833

Title: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.

Sponsor: Rep Paul, Ron [TX-14] (introduced 2/3/2009)  Cosponsors (None)

Latest Major Action: 2/3/2009 Referred to House committee. Status: Referred to the House Committee on Financial Services.

[bittergunowner12]

Sadly... Boxer and Feinstien are my Senators....

[x37green]

I wish I had more time to research this stuff. But the MoneyMasters website scares me. (is that what you meant?)They want to print enough money to cover the deficit regardless of GNP or any other measure of the economy. That is a recipe for runaway inflation. The bailout is bad enough. The money supply is stretched already because of govt spending increases when property values and wages are in recession. We need to keep Treasury away from the printing presses for a while.

[bamagirl369]

In other words if society gets smarter and faster through research and technological advancement, then we should become more productive with less capital. There should be no need for inflation. Another problem that Ron Paul pointed out, as do Austrian economists is that wars are destructive in nature. We apparently need inflation to continue rebuilding everything we destroy. Kinda silly huh? Jackson spent his career destroying the central bank and we survived for several decades w/o it.

[bamagirl369]

Great conversation! I agree with LizzyxDarcy. It makes no sense to pay interest. Have you seen the MoneyMasters? Bill Still presents a solution to interest-free money w/o a gold standard. It has to be in the peoples hands, unfortunately that means congress, so we need more like Demint in congress. I like you voted for Bob Barr. I don't even like the idea of 5% inflation. I'm engineer by trade, not an economist but if technology leads to efficiency shouldn't we have an abundance of wealth?

[x37green]

I agree. The national debt is responsible for that. Establishing a debt based monetary system in this country started with Alexander Hamilton. But even he wanted to pay the debt down within 7 years. We haven't paid off the debt since Andrew Jackson was president. But as to the Fed, they (should) base the monetary supply on the size of the economy. Congress is skewing the results with their rejection of pay-go. At least Greenspan aimed for slow inflation to appease boomers. Thats now history.

[LizzyxDarcy]

We should not be paying interest on our own money... that is the problem ...

[x37green]

P.S. I voted for Ron Paul in the primaries and for Bob Barr in the general election. I dislike most Demicans and Republicrats. From what I know about Sen. DeMint, he is one of the only major party representatives that I would vote for, for any office. Unfortunately, I have Sen. Durbin and Sen/Pres Obama and Sen Burris in my state. I called and emailed them all.

[x37green]

We abandoned the gold standard because there isn't enough gold nor is there a dynamic asset that can be used as a basis for establishing a money supply. There is no alternative to the Fed yet proposed that can account for intellectual property, human ingenuity and the "world" aspect of money flow. The Fed isn't perfect, but without Congressional overspending, the system fuels free markets efficiently. I say we should try to stop the spending while you explain to us how to replace the Fed.

[bamagirl369]

The Fed is the primary reason that congress has the ability to spend for socialist programs. The only other way to get the money would be to raise taxes which is political suicide. The reason that Ron Paul hasn't found co-sponsors is because both Democrats AND Republicans love to spend our money. If we abolish the Fed, we will end the spending in Washington. I agree that we should call our congressman and ask for both. Conservatives need to be unified to get us moving in the right direction.