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    2012: THE WEAK ECONOMY AND HOW TO DEAL WITH IT TO EMPOWER THE CITIZENS
    2012: THE WEAK ECONOMY AND HOW TO DEAL WITH IT TO EMPOWER THE CITIZENS
    2012: THE WEAK ECONOMY AND HOW TO DEAL WITH IT TO EMPOWER THE CITIZENS
    Ebook111 pages1 hour

    2012: THE WEAK ECONOMY AND HOW TO DEAL WITH IT TO EMPOWER THE CITIZENS

    By Joseph Albert Gorski

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    About this ebook

    The author lays out a new dramatic transfer of money and power away from the federal government and back to the people. This will result in a powerful shot in the arm for the economy without adding to the deficit. The author explains that it is not too late to turn things

    LanguageEnglish
    PublisherAuthors Press
    Release dateSep 3, 2021
    ISBN9781643146454
    2012: THE WEAK ECONOMY AND HOW TO DEAL WITH IT TO EMPOWER THE CITIZENS
    Author

    Joseph Albert Gorski

    Joseph Albert Gorski is a graduate of Rutgers-Newark College of Arts and Sciences with a degree in Business Administration and a minor in Political Science. He has several books full of ideas and concepts to help the citizens of the world. His passion is to break down what divides us and to present useful ideas. He is leading an interesting life, living in three different states in the USA with his family and earning a living both as a businessman and an employee. He is still in a continuous mission seeking for a deeper spiritual understanding of life for him and others.

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      Book preview

      2012 - Joseph Albert Gorski

      9781643146447_cov.png

      Copyright © 2021 by Joseph Albert Gorski

      All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.

      ISBN: 978-1-64314-644-7 (Paperback)

      978-1-64314-646-1 (Hardback)

      978-1-64314-645-4 (E-book)

      AuthorsPress

      California, USA

      www.authorspress.com

      Table of Contents

      INTRODUCTION vi

      CHAPTER I

      More Government is Not the Key 1

      CHAPTER II

      The Rise of the Individual Independent Voter 6

      CHAPTER III

      Understanding the New Economic Realities 11

      CHAPTER IV

      Identifying the Challenges with Government Involvement in the Economy 23

      CHAPTER V

      Social Security and Our Tax System 37

      CHAPTER VI

      Status Quo versus Government Reform Now 44

      Chapter VII

      Restructuring the Defense Department and Protection 52

      Chapter VIII

      How to Get from Our Current Stagnant Economy into a Robust One 57

      CHAPTER IX

      Which Political Party comes Closest to the Views Outlined in this Book? 66

      CHAPTER X

      The Recap 72

      CHAPTER XI

      Ten Years Later... 80

      INTRODUCTION

      In mid-2011 our economy was at another crossroads. The second round of monetizing the debt by the Federal Reserve Bank by adding government debt to its balance sheets had come to an end. The result was an uptick in inflation in most areas of the economy and a relatively weak dollar compared to many other currencies around the world. A deal was made between Congress and the President at the beginning of August, 2011 to increase the debt ceiling on government borrowing by over two trillion dollars so the federal government can continue to borrow all the money it needs until after the election in 2012. This whole budget fight brought to light how great the problems are with funding the Federal Government in the future and the rapidly rising national debt. No cuts to government could be agreed on to take place in 2011 or 2012, but not until a new Congress and possibly a different President takes office in 2013! Two major rating agencies, Moody’s and Standard & Poor’s had both expressed some concern about the American government debt load for several months although the US government kept its AAA rating up to the time of the debt ceiling deal on August 1rst. Then a few days later Standard & Poor’s lowered the debt rating of the US government to AA+ with a negative outlook. This was the first downgrade of US credit worthiness since it got the AAA rating almost 100 years ago. Some politicians in Washington are actually blaming the Tea Party for this downgrade in our credit rating for essentially bringing to light our debt problems! These rating agencies are often slow to react to big corporations or financial institutions in trouble by not changing their ratings until it is obvious for all to see. Remember all the financial institutions that were highly rated credit risks going into the 2008 financial crisis and how many needed bailouts to survive. This could be the case here with our government. People had been wondering in which direction our economy was going. The economic recovery (which started by mid-2009) was remaining very weak and unemployment was remaining stubbornly high. The stock market turned very negative in late July and early August 2011 and had some of its largest one day price swings in history. Many approaching retirement are scared and are getting out of the stock market which contributes to this sell-off. There seemed to be no clear direction for the economy. Republicans were blaming Democrats and vice versa. The President seemed to be blaming corporations and the rich. Financial analysts had a wide range of ideas and opinions. What most of them seemed to miss is that this economic downturn is far different from the other ones we have experienced since World War II. The baby boom generation is just starting to retire and the percentage of people in the workforce has been in decline for several years. This causes special problems for the big government model we have had for most of the past 100 years. We had especially massive growth in government spending over the past decade which really accelerated since the economic panic hit in September 2008. All these bailouts and stimulus packages did not help very much to prop up the economy, but have increased all the debt accumulated by the federal government in its entire history by about 50% in just a few years! Interest rates near zero and the Federal Reserve Bank printing money by adding federal government debt to its balance sheet also did not help very much except contribute to higher food and fuel prices by weakening the currency. A

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