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Letter to Congressman Van Hollen on Solutions to the Default Crisis

Webster G. Tarpley, Ph.D.
TARPLEY.net
July 21, 2011

My dear Congressman —

The American people are not interested in Obama’s Grand Bargain or the Gang of Six plan, which are cowardly and dishonest attacks on Social Security, Medicare, Medicaid, jobless benefits, and other vital programs. Cuts in these programs will not reduce the deficit, but they will kill Americans. Such cuts represent a veiled form of genocide. We want to save money by ending all the wars, including Obama’s fiasco in Libya. We want the repeal of the failed Bush tax cuts. We want to see Wall Street forced to pay their fair share through a Tobin tax or Wall Street Sales Tax of 1%, with half the proceeds kept by the US Treasury and the other half distributed to the states to stabilize budgets and protect social services. We want the most toxic derivatives — including credit default swaps and collateralized debt obligations — banned, as they were from 1936 to 1982. We want a recovery and jobs program in the New Deal FDR tradition, all financed by 0% federal credit from a nationalized Federal Reserve. Reactionary Republicans and Tea Party fanatics need to be fought, not appeased. As for the ratings agencies, they should be on trial for their malfeasance of 2008, and not dictating policy to the US government. If Obama thinks he can get re-elected by catering to Wall Street and by betraying his own base to pander to those morally confused independents, he will meet the fate of Jimmy Carter. Any Democrat who votes to weaken entitlements must expect to be primaried and ousted. We urge you to call McConnell’s bluff and avoid the cataclysm of default by passing a clean bill to raise (or, better, abolish) the debt ceiling with NO CUTS to our hard-won New Deal and Great Society economic rights.

— Webster G. Tarpley Ph.D.

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