Tuesday, April 23, 2024

Things to Keep in Mind When Digesting the "Mainstream" Media News

When the media controls the information you see,
they control what you believe.

When they control what you believe, they control
your mind.

When they control your mind, they control your 
emotions. 

When they control your emotions, they control
your actions.

When they control your actions, you are no longer 
in control.

When you are not in control, you are not yourself.

When you are not yourself, they have won.


Unknown Author.



MEM  


P.S.: Be judicious about where you turn to for news.





Monday, April 15, 2024

The Truth About the Wealthy Paying Their Fair Share of Taxes

Every year, especially at national election time 
and at tax time (April 15) there are arguments
as to who pays their fair share of U.S. income
taxes, who should pay more, and who should 
pay less. Politicians run on the topic, some 
in the first camp, others in the second. 
And there are others in the battle as well: 
advocates for this program or that cause,
this ideology or that, this presidential candidate
or that, all of them claiming that they require 
more and more money from Washington 
and/or the state legislatures and/or the  
municipal governments, not to mention
those of the counties.

A popular cry from those with left-wing tendencies 
is "Tax the rich! They don't pay their fair share!"
They don't think that the wealthier among us pay 
enough in income taxes, that they get off easy with 
their taxes somehow. Well, your diligent Peasant did 
some research on the matter and here are my findings:

Data from the IRS (no less!):

*In 2021, the most recent year for these records, taxpayers
filed 153.6 million tax returns, reporting over $14.7 trillion
in individual income taxes. The average income tax rate for 
2021 was 14.9%. The top 1% of taxpayers paid a 25.9 %
rate, nearly eight times higher than the 3.3% average rate
paid by the bottom half of all taxpayers.

*The top 1 per cents'  income share rose from 22.2 % in 2020
to 26.3% with its share of federal income taxes paid rose from
42.3% to 45.8%. 

*The top 50% of all taxpayers paid 97.7% (!) of all federal 
income taxes, while the bottom 50% paid all of just 2.3%.

*The 2021 figures include COVID-19 pandemic-related items 
from the ARPA (American Rescue Plan Act), i.e. the 
non-refundable part of the third round of the Recovery Rebates,
the expanded child tax credit, and the Earned Income Tax Credit.

*Also noted is the fact that Capital gains realizations topped 
$2 trillion to achieve a 40-year high, driving income growth 
and taxes paid for high income groups, i.e. the top 1%.

Share of total 2021 income tax paid, from the top earners (1%)
to the bottom earners (50%).

Top 1%: 45.8%. That's nearly half of all income taxes paid, and by
just one per cent of the income earners in the United States.

Top 5%: 65.6%.

Top 10%: 75.8%.

Top 25%: 89.2%.

Top 50%: 97.7%.

Bottom 50%: 2.3%.

All Taxpayers: 100%.

But there's more: Some people want to see the higher earners not only
pay still more in income taxes; what do they, pray tell, consider their 
"fair share" of income taxes to pay? But U.S. Sen. Elizabeth Warren
(D-MA) wants to tax the unrealized profits of their investment 
portfolios (!!). This means that if you have, say, stocks and you 
have not sold any of  your shares for a gain, you must STILL pay a 
percentage of your portfolio's worth in taxes! And there a few more
politicians like Sen. Warren in Washington with this same socialistic 
idea in mind! Then these same people call these high earners "greedy"!

Meanwhile, Uncle Sam keeps spending more and more on programs 
that either should not require, and certainly not receive so much money
in order to operate or on programs which should not even exist, as they
are wasteful boondoggles to begin with. So who, then, are the greedy 
ones? 

Keep these facts and figures in mind on this, here at the annual tax
deadline, as well as when you get into an argument with an advocate
for ever more confiscatory taxes including to the point of taking away
investment gains unrealized EVEN THOUGH THEY HAVEN'T BEEN
SOLD YET (emphasis your exasperated Peasant's)! 

Have a Happy Tax Day!


MEM 



Tuesday, April 9, 2024

The Inflation Dog Bites Biden's Backside

While the Federal Reserve continues to hold interest rates
and the inflation rate stays above 2%, President Biden's 
popularity sinks like a stone in a body of water. The White 
House posted a video showing Biden raging about shrink-
flation, offering as an example food companies shrinking 
their package size in order to cut costs. You would think
that the number of chips in a bag of, say, Lays potato chips
or Fritos corn chips would be too ticky-tacky for the 
POTUS, but never underestimate the ability of Biden to
use anything he can get his mitts on to castigate businesses,
completely unaware of how it shows his boundless ignorance
of how businesses function in providing goods and services
and how they drive the economy. Here, Biden blames not
government --- certainly nor his wild spending programs! ---
but the private sector, especially businesses, for which 
far left-wingers like himself harbor an ideological hatred
for our country's business community, for the worst inflation
which our country has had in over forty years.
And they want us to believe that our economy is in the
best shape that it has ever been in because of their interaction 
with it?? 

But Biden and his cohorts got one thing right: Inflation,
as an economic phenomenon and as an issue, will not go
away anytime soon. 

Nor will his growing unpopularity.


MEM 

Thursday, March 28, 2024

So Sorry, I Must Beg Off This Week & Happy Easter!

Oh, heck! Your faithful but burdened Peasant has to
be away this week to take care of a barrage of duties
and commitments. Not to worry, my wonderful and 
understanding readers, I shall return in a week or two
to be with you and the political and economic news
of the day to pick over. Thank you all for being
so patient and indulging! 

And have a very Happy Easter!


MEM 


Thursday, March 21, 2024

Universal School Choice Gains Ground

The North Carolina Legislature recently passed a new budget
granting universal school choice. It will eliminate the income 
gap presently required for being eligible in the Tar Heel State's
education-voucher program. The legislation also has a Medicaid 
expansion which the state's Democrat Governor Roy Cooper
wanted and was passed by a veto-proof majority. Despite the 
vote count being mostly along party lines, four Democrat 
state representatives voted for the bill. All this made North Carolina
the tenth state to grant universal vouchers, and may this be 
a continuing trend. By the by, this story is a sterling example 
of how well bipartisanship can work when it is performed 
truly for the good of the people.


MEM  

Saturday, March 16, 2024

Tax Cutting Gives the Irish a Pot o' Gold

Ireland, the land of what economists and investors have 
in recent years called The Celtic Tiger for Ireland's 
financial rebound to enjoy the strongest economy that
this nation ever had, is on the financial rebound yet 
again; the Tiger is having a second wind. 

And what has been the factor in the Irish comeback? 
Tax cutting, and not just a wee trim either. Ireland,  
whose economy grew by an astounding 12.5% last
year, faster than any other nation in Europe (!), 
whacked its levy on corporations and became a magnet
for business and jobs. The Wall Street Journal remarked
recently that the Emerald Isle is "swimming in money"
and it's no wonder. All being more proof that U.S. economist 
Arthur Laffer was right; the Laffer Curve showed that lower
tax rates can result in faster growth and higher revenue,
and President Ronald Reagan implemented Laffer's curve
in his economic plan for the U.S. with positive results.
In Ireland, the results were even more dramatic.  

Ireland had a dysfunctional welfare-state economy in the 1990s.
Just before that decade, Irish unemployment was just a whisker 
under 18% in 1987.But eight years after that, Dublin implemented
a most daring economic plan. Ireland slashed its 40% corporate 
tax rate down to 12.5%, phasing it in over approximately ten 
years. Ireland soon began attracting new businesses and capital 
investment. The plan was a success, producing results that even 
its creators did not anticipate. U.S. multinationals soon came
over, and now number 950, with a sum total of 209,000 employees.
Ireland's population? Just five million. This is the equivalent
of a policy in the U.S. creating ten million jobs. Think about that.

Ireland, no longer a strictly agricultural country but now 
an industrialized nation, has one of the world's largest budget
surpluses with the new revenue pouring in from big tech and 
pharmaceutical companies making Dublin their home. One may 
ask, why haven't other nations taken a page from Ireland's book 
and done what the Irish did? Nations with left-leaning to outright
leftist governments have scoffed at the idea of tax competition 
among the world's nations all the while hamstringing the businesses 
inside of their borders, calling tax competition a "race to the bottom",
ignoring the fact that Ireland has raced all the way to the top.
Mr. Maduro over in Venezuela, are you listening? 
Mr. Obrador in Mexico, are you paying attention?
Mr. Lula in Brazil, what say you?

Our own left-wing head of government President Joe Biden wants 
to raise the U.S. corporate tax rate from 21% to at least 25%, but
would love to hike it to 30%. To be sure, Biden also wants to jack 
up tax rates on dividends and capital gains. And he wants to continue  
to spend, spend, spend like there's no tomorrow. If we don't hand this 
fiscal wild man his walking papers and replace him with a fiscally
conservative president next year our country won't have a tomorrow 
worth looking forward to. 

We can profit from Ireland's experience. This is the way President
Reagan recommended to us forty years ago. Let's have our own 
pot o' gold now!

Meanwhile, let's all have a Happy Saint Patrick's Day!


MEM

Tuesday, March 5, 2024

Outlays vs. Deficit: a Battle in Which the People Always Lose

According to the Congressional Budget Office, in 2002, the federal 
outlays were approximately equal to the 2023 federal deficit: about
$2 trillion. This includes an adjustment of around $300 billion to 
account for the resultant savings made possible by the Supreme
Court declaring as unconstitutional President Biden's student-loan-
forgiveness program which would have put U.S. taxpayers on the 
hook for the money owed by the college students who borrowed 
the money in order to enroll at college but failed to pay off the 
entirety of their loans. This is like stabbing someone with a long
knife, sticking it in halfway rather than the whole blade length;
does this make the situation only half as bad? But read on ... 

The deficit was around $1.7 trillion because the program was at 
first included in expected spending, so the SCOTUS' decision
was then counted as a spending cut. However, the spending cut
was merely a non-event, meaning that the deficit was actually
$2 trillion. Congressional "smoke and mirrors" at play.

This all ads up to (no pun intended) the $2 trillion deficit for 2002,
and Uncle Sam having added as much to the debt as were its
total expenditures in 2002. And April 15 is looming large once more.

Sickening.


MEM 


Tuesday, February 27, 2024

Joe Wurzelbacher, a/k/a Joe the Plumber, R.I.P.

A Tea Party hero and figure, truly representative of 
the everyday American, himself being a "working stiff", 
Joe Wurzelbacher entered the spotlight as such 
when he boldly questioned then-candidate 
Barack Obama about his questionable economic 
policies in the 2008 presidential campaign, has
died. 

Getting the opportunity to talk to Obama at an event
in Wurzelbacher's home state of Ohio, he took it 
to Obama for his plans to raise taxes on some 
individuals and businesses. Obama's response? 
A reply typical of a socialist: "I think when you
spread the wealth around, it's good for everybody."
This exchange sharply defined the two men, along
with drawing the contrasts between them. 
Joe Wurzelbacher became a folk hero and 
Barack Obama became President of the United
States, the former riding a right-populist wave 
of notoriety and the latter riding a left-populist
wave. 

Wurzelbacher's exchange with Obama 
pointed out the yawning gap between not only 
the two men and their political/economic ideas
but between the establishment elites and the 
regular folk.

A Toledo, Ohio plumber, Wurzelbacher became  
known as "Joe the Plumber" after his exchange
with the near-future president, which had received 
considerable air time on cable news, topped off  
by Obama's opponent U.S. Sen. John McCain 
repeatedly referring to Joe by his "plumber" 
moniker in one of their presidential debates.
Sadly, in that presidential election the 
former won, but Joe Wurzelbacher became, 
at least for a time, a folk hero, especially to 
his side of the political spectrum.

Wurzelbacher's oldest son, Joey, announced that 
his father died after a very long and painful
illness; "The only thing I have to say is that he
was a true patriot." His father had the middle 
name Joseph (his actual first name was Samuel)
and was called and referred to as "Joe".

God rest you, humble yet unabashed patriot.
R.I.P.


MEM    





Wednesday, February 21, 2024

A Stroke of Luck?

U.S. Senator John Fetterman suffered a stroke in the 
middle of his campaign for a seat in the Senate. 
Prior to his unfortunate health setback he had been 
regarded as a most politically progressive Democrat,
a staunch left-winger if ever there was one. Despite
his stroke he was elected by the people of his home 
state of Pennsylvania, and far-lefties in the Keystone
State and around the country were delighted.
But after a short while the new senator made some 
unusual, and unexpected statements on several topics,
including the war between Israel and the Palestinians.
And the gobsmacked left-of-center set have, after 
getting over their shock at Sen. Fetterman's utterances,
asked collectively "What gives with Fetterman?"
They may even have thought that his stroke scrambled
his thinking process and capabilities.

Fetterman broke with the progs over Israel and the 
Palestinians by taking a strong, clear stand for Israel
over Hamas, which is allied with the Palestinians.
Furthermore, the new senator from Pennsylvania put
up posters of hostages outside his office, draped an
Israeli flag around his shoulders to the recent rally 
for Israel on the national mall, declaring "Israel is 
really a beacon of the kind of values, the American
values and progressive ideals, that you want to see."
And that's not all; Fetterman called for the resignation
of Sen. Robert Menendez (D-NJ) over an official 
having been accused in court of being an agent 
of the Egyptian government is still receiving classified 
intelligence briefings. And for the icing on the surprising
cake which Fetterman baked, he criticized the burgeoning
antisemitism and outright insanity on college campuses:
"As an alum of Harvard --- look, I graduated 25 years ago, 
and of course it was always a little pinko. But now, 
I don't recognize it." This statement is even stronger than
any and all criticisms of same from Republicans to date,
and it came from a supposedly very lefty Democrat!
And the cherry on top? Fetterman said flatly in an
interview with NBC News that he's "not a progressive."
Will this mean that hard-boiled left-wing Democrats 
in his state will attempt a recall? Or will they hold their 
horses long enough to reach election time and find a 
primary opponent to run against Fetterman?
Recent polling, however, shows that many Pennsylvanians
are happy that their new senator is more moderate and
and restrained than they at first thought. 

And they are breathing a giant sigh of relief in unison.


MEM

Wednesday, February 14, 2024

The Amazing Memory of Joe Biden

President Biden recently gave a speech in which he told
his audience that he remembers visiting Ground Zero 
the day after 9/11. His memory also has such gems as 
his Build Back Better program being a smashing success,
his inflation fighting strategies staving off higher inflation,
his efforts to reverse the rise in oil and gas prices working
well, his son Hunter being a good man, not involved in any
criminal activities in Ukraine or anywhere else, and his 
putting a thug named Corn Pop in his place back in his 
younger days. 

Our president is really in the wrong job and the wrong
occupation. He would be so much more successful, and 
more popular, as a fiction writer writing fiction novels,
calling on his unique memory stored up with memories
of what never was as well as never happened. 

Ah, what a waste of talent!


MEM  

Monday, February 5, 2024

Time is Being Stingy This Week

So sorry that your favorite Peasant can't be with you this week.
However, I can and will be with you next week! I got caught up
in a time crunch; too many things of urgent priority, too little time
to fit anything else into my schedule. 

I'll have everything sorted out by the coming week. We'll visit then!
Thanks to you all for your understanding and kindness!


MEM  

Wednesday, January 31, 2024

Two Kinds of Justice

Now you, my sharp and wonderful readers know about 
the troubles that the president's son, Hunter Biden, has 
gotten enmeshed in; but being the son of THAT Biden,
our not-really-a-straight-arrow President Joe, and there-
fore a high-up member of the Liberal Establishment he
won't be going off to prison anytime soon, if at all.
Your outraged yet calm Peasant shall explain: 

We all know about Hunter Biden's dubious dealings with 
Burisma, a major corporation in Ukraine which is a holding
company for some energy and production firms. His mis-
adventures have gone beyond all that: multiple tax-evasion,
each charge carrying a potential penalty of five years in 
prison; making a false statement (he denied his drug abuse,
which by the way kept him from joining the Navy, even 
though his president papa tried to get him in using his 
influence) on a required federal firearms form, based on  
which he obtained a handgun illegally and irresponsibly 
played with it while in the company of an "escort" 
(as shown in a video from his controversy-laden laptop).
The gun in question was later lost near, of all places, 
a school. The charge related to the illegally-gotten gun?
Up to ten years under lock and key. But the Department 
of Justice let him plead guilty to misdemeanor tax charges,
allowing for a sentence of probation, meaning the president's
brat won't have to go to, or anywhere near a prison. On the 
gun offense? A diversion settlement that will help the Biden
son avoid both a conviction and a stretch in prison!

Any regular work-a-day slob that would do any of what
Hunter Biden did and get caught would go straight 
behind bars, no ifs, ands, or buts. A veritable prince of 
the establishment, however, would not even get a slap on 
the wrist. One rule for the elite, another rule for the peasants.

Crime and punishment in the United States (groan). 


MEM 

Wednesday, January 24, 2024

Joe Linskens, R.I.P.

I recently learned of the passing of an avid reader of this blog
and a dear friend. Joe Linskens, an 84-year-old retired Army
National Guard soldier who attained the rank of Master Sergeant
then later a Master Machinist at Kearney & Trecker, was a frequent 
visit to the Elm Grove (WI) Library, as was I when I lived nearby the
library in an adjacent part of Wauwatosa, and thus we met. 
We became fast friends, with much in common despite our ages;
Joe was a fellow conservative and didn't have time for the 
spinelessness and craven behavior of more than a few in the 
Republican Party; not standing up for conservative principles,
always looking for an easy out invariably leading to compromises
amounting to giving in to the Democrats, and your favorite Peasant
sharing the same frustrations. 

Joe recommended some wonderful books on politics, banking,
and our economy to me, while I introduced Joe to my blog,
of which he became a faithful and constant reader. Sometimes he
would enjoy a post so much that he'd give me a twenty-dollar bill
to go out and buy myself a wonderful lunch or dinner. It was the 
first money that I would make with my blog.

We talked about many things: our Catholic faith, the state of our 
country, historical things, and how military life was for Joe.
We also shared a great love for our country, and I thanked him
for his service in the Army National Guard as well as for his 
readership of Peasant With A Pitchfork. I met his charming wife 
Ann, who last I was aware is still around and continuing to live 
in the Elm Grove condominium in which she and Joe lived for 
many years. 

Joe, I can't thank you enough for your friendship, your companionship,
and your stories about your life and times, and certainly for your 
being a constant reader of PWAP, your support and encouragement!
Until it's my turn to receive God's invitation to partake of His 
heavenly hospitality, we shall indeed meet again. See you then!

Requiescat in pace.


MEM 


Thursday, January 18, 2024

Is a Mayor of a City the Mayor to All Its People?

Your inquisitive Peasant came across this story in the latest
issue of National Review. I am posting NR's take on the 
events regarding the story word for word, as I cannot do 
it justice by adding anything to it or introducing a 
perspective from a different angle. Here it is:

"Boston Mayor Michelle Wu sent an invitation for an 
"electeds of color" holiday party to state officials who 
didn't meet that criterion. She publicly regretted the 
faux pas. She did not regret, but certainly should have,
her agreement to host an "electeds of color" gathering
in the first place. Individuals have the right to associate 
with or dissociate from whomever they wish, however
divisively, but public servants --- in their capacity as 
public servants --- shouldn't self-segregate from their 
colleagues and fellow citizens. The mayor is a 
Massachusite and a Boston first, and in her public role 
she should identify with her entire political community."

The Week, National Review  February 2024 

The Peasant thanks National Review for printing this 
article. 


MEM


Monday, January 8, 2024

On Universities (and Other Institutions), Plagiarists, Plagiarism, and Wokeism

Plagiarism is occasionally a problem which crops up 
on university campuses, usually in connection with a student
or several students banding together to obtain someone's 
work in order to copy, or illicitly base their work based on the
obtained texts created by others. It rarely makes news when 
it is done by students; when it is done by faculty or by the 
president of a school, then one hears of it on the six o'clock
news, reads it in a newspaper, or encounters it online.

Your faithful Peasant is going to share with you a case regarding
the latter. Harvard President Claudine Gay recently stepped down
from her position after being caught at more than a few instances 
of such activity. Now, with Harvard being regarded as one of the 
leading institutions of higher education in these United States one
would think that it would act to protect its image and reputation
in the face of such a scandal. But Harvard has a different set of 
priorities. 

Harvard's bigwigs don't want to lose Claudine Gray; they in fact
staunchly defend her and will not hold against her the thievery of
other people's work. In fact, they have offered her a senior faculty
teaching position! Contrast this to what they would do, and have
in fact done, to students caught plagiarizing. Furthermore, 
Gray checks two important boxes for a modern, progressive,
elite and elitist institution: she is both black and female. 

Wokeism rears its ugly head in this story. Gray wrote a response
piece to what all was discovered about her and why she resigned 
from the presidency of Harvard which was published by the
New York Times on January 4. She wrote "Those who had 
relentlessly campaigned to oust me since the fall often trafficked
in lies and ad hominem insults, not reasoned argument.
They recycled tired racial stereotypes about Black talent and 
temperament,". Gay gave little notice to the substantive criticism
of her management of Harvard and her abject failure to take action
against antisemitism on Harvard's campus, with Jewish students 
made uncomfortable in the bigotry-charged environment which 
ex-President Gay allowed, if not encouraged, to take root. 

Former New York Times editorial page editor James Bennet wrote
in the Economist toward last year's end that his former employer
"is becoming the publication through which America's progressive
elite talks to itself about an America that does not really exist."
This is also the case with places like Harvard University. 
This is also the crux of the indoctrination of a nation, 
one generation at a time.

Gay writes that the campaign to oust her "was merely a single skirmish
in a broader war to unravel public faith in pillars of American society"
and that "trusted institutions of all types --- from public health 
agencies to news organizations --- will continue to fall victim to 
coordinated attempts to undermine their legitimacy and ruin their 
leaders' credibility."

Now let's unpack Claudine Gay's statement and examine everything 
thoroughly, shall we? First, the unravelling of public faith in the 
pillars of our society was begun from within, what with leaders 
who have introduced and implemented radical ideas and programs
which have hurt the institutions which they were hired to steward
with judicious leadership. Elite institutions, including but not at all
limited to the media (certainly including social media), big business
(formerly a bastion of conservative politics and economics), and
public health organizations have eroded their own credibility and 
fueled public distrust. They have followed the rhetoric of former
First Lady, U.S. Senator, Secretary of State, and presidential 
candidate Hilary Clinton denouncing as deplorables the great mass 
of the country that doesn't share the Left's extreme views, i.e. if you 
favor voter ID laws then you're a racist; if you oppose modern
progressive cultural strictures on expression of thoughts and ideas
regarding gender identity and pronoun usage then you're a bigot; 
if you dare to question left-wing climate policies or even the idea 
that climate change is solely a consequence of human activity then
you're an anti-science ignoramus. 

An example involving a once highly regarded medical publication:
The Lancet, a once-eminent and greatly respected scientific journal,
published a 49-page denunciation of former President Donald Trump's
policies in 2021. Its composition claimed that Trump's policies were
"appeals to racism, nativism, and religious bigotry (which) have 
emboldened white nationalists and vigilantes, and encouraged police
violence and, at the end of his term in office, insurrection" and 
"threaten an upswing in armed conflict." Sounds like the Lancet is
transitioning from writing about medicine to writing fiction.
But this is the lunacy which the Left has engaged in to defame and 
destroy Donald Trump and his chances of winning back the presidency.
The Lancet merely joined the cacophonous chorus. Claudine Gay is
already a highly visible and audible member. 

Is it any wonder that, according to a recent Gallup Poll, just 18% 
of the American people said they had a great deal or a lot of confidence
in newspapers, and 14% said likewise of big business, while confidence 
in higher education has dropped to 36% this year from 67% in 2015.

Gay further writes that campaigns against institutions "often start
with attacks on education and expertise, because these are the tools 
that best equip communities to see through propaganda." How 
amusing coming from her! Elites like Gay use their education 
and expertise to indoctrinate and enforce ideological conformity in 
their institutions, vilifying and misrepresenting the arguments of their 
critics instead of engaging with them in clean, honest debate, which
quite frankly they are afraid to do because they know they won't win.
That is why they strain to shut up and shut out their critics. 
It's also why they have one set of rules for their own, and another 
set for everyone else. And the public's cynicism toward these 
institutions grows all the while. 

These institutions have lost the respect of the public because of their 
wild rocket rides over to the fringes of rational thought. Once they
stop these flights of dreadful fancy and work to rebuild the 
foundations upon which they were established, if they ever desire to,
that lost respect will slowly return. Will this happen? Time will tell.


MEM




 

Wednesday, January 3, 2024

Interesting Interest Rates

The Federal Reserve is currently holding the federal funds rate 
at 5.5%. Fed Chairman Jerome Powell said, and not for the first
time, that the Fed remains committed to its 2% long-run inflation 
target, which is a good thing. The Fed will undoubtedly face more 
pressure to cut interest rates than to raise them, but hopefully the
Fed will hold fast. However, it is disappointing that the Federal
Open Market Committee statement does not have any warning 
about the negative effects of deficit spending, for that is the 
thing that makes fighting inflation all the more difficult.
Anyway, such a warning would only have the same effect
on Congress and the current president as a warning against 
drug abuse with mention of its negative effects would have on
drug abusers. So, Happy New Year (sigh).


MEM