(ThyBlackMan.com) Why are Democrats throwing away the greatest opportunity since 2008 to win the Presidency in 2016 and take the Senate and House back? A recent NBC/Wall Street Journal poll determined that the American public’s number one priority is job creation. Politicians on both sides of aisle have not presented a credible job creation plan since the 2008 Downturn. It is as if the public knows the easy money policies of the Federal Reserve Bank (Fed) and the European Union (EU) are no substitute for a viable job creation plan that comes with measurable results. According to the poll, job creation was at the top of the poll for Democrats (87%), Independents (83%) and Republicans (#2 priority @ 84% – defeating and dismantling ISIS was #1 @ 87%).
As incredible as it sounds, under the reach and control of Democrats, a measurable result-oriented job creation plan has been available and doable for sometime! (Please continue to read) It is the collusive nature of both political parties when it comes to the Social Security program that has prevented this doable job creation plan from cracking the surface of the 24 hour news cycle and becoming a reality. It is well known by both parties that the Social Security trust fund has been drained of its reserves totaling $2.7 to 3.0 trillion dollars or more by successive Republican administrations starting with the Reagan administration in 1986 and continuing with both Bush administrations.
The Democratic administration of President Bill Clinton was to a limited extent also a documented participant. I have written a book which is available at Amazon e-books, (http://www.amazon.com/dp/B00MI3PD2M), detailing what I call euphemistically the mismanagement of the Social Security trust fund and how the trust fund if reimbursed can spur demand and create the jobs the American public needs and wants. Some people refer to what happened to the “retirement savings” of the Baby Boom generation as a crime and I understand why.
Money was taken from the Social Security trust fund by these administrations with a promise to pay the money back. They left worthless IOU’s and knew they were worthless! You see, each presidential administration only has control over what occurs during his administration. If your administration comes to an end without you and or anyone in your administration making an attempt to satisfy the IOU’s in the billions of dollars left with the Social Security
trust fund, what do you call that? Do you simply call it an oversight or something else? This is not an allegation or unproven assertion that is being made here but a matter of record, as “the book” pulls the evidence of this borderline criminal misconduct from the Congressional Records and squarely lays it before the reader in a fashion that is undeniable to even most stalwart advocates of these mainline political parties. There is no question the aforementioned administrations morally abused the trust of American workers.
The federal government, as a result which is controlled by these parties, has a moral obligation to set-up a program of re-payment. The suggestive “down payment” to start such a re-payment program recommended in my book, “The Fix This Time,” is $600 billion dollars. A $600 billion dollar down payment to bail out the Social Security trust fund is not an extremely high or an outlandish amount. President George W. Bush, by way of comparison, through then Treasury Secretary Hank Paulson under The Emergency Economic Stabilization Act in October 2008, which created The Troubled Asset Relief Program (TARP) gave the secretary the authority to either purchase or insure up to $700 billion dollars of collateral debt obligations (CDO) held by financial institutions.
The financial condition of many major banks at that time was dismal. Their balance sheets held billions of dollars of CDOs, which were dropping in value. In order for these banks to carry out their regular functions as banks, that is taking in deposits and lending money, they had to be able to present themselves to the public as being financially sound. One of the ways of making them appear financially sound was to simply have the banks transfer their “toxic loans” to the federal government through the TARP program. The logic behind this approach was that by removing the CDOs from the balance sheets of banks and out of the financial system, confidence could be restored in our banking system.
Consider also, with concern mounting after the beginning of the 2008 Downturn and the unemployment rate rising, the Obama administration signed into law the American Recovery and Reinvestment Act (ARRA) on February 17, 2009, which was a stimulus program. The Act produced a stimulus package totaling $830 billion dollars. A great deal of the $830 billion dollars went directly to businesses through infrastructure projects. However, there are still according to the Bureau of Labor Statistics (BLS) 8.6 million people unemployed as of March 2015 with 2.6 million or 29.8 percent of those being considered long-term unemployed (those jobless for 27 weeks or longer).
The same logic used by Congress to pass legislation providing “a direct fiscal boost to help lift our Nation from the greatest economic crisis in our lifetimes and lay the foundation for further growth” (President Obama’s words when he signed the ARRA into law) can be used to justify a $600 billion dollar bailout of the Social Security trust fund to create jobs and spur demand.
Staff Writer; James Davis
This talented brother is a graduate of Florida A. and M. University(FAMU), a former stockbroker, and a human rights activist who resides in Sanford, Florida. He was awarded the prestigious Governor Haydon Burns Scholarship to attend FAMU and while at FAMU was awarded the first Martin Luther King Scholarship. He is also author of three books, among them are “The Fix This Time,” Expanding Social Security Benefits to Create Jobs and Spur Demand( http://www.amazon.com/dp/B00MI3PD2M ) and “Hey…God’s Talking To You,” The Study Book ( http://www.amazon.com/dp/B00GYI3VQW ).
He can be reached through his blog @, (http://www.thefixthistime.com).
