The bickering over impeachment did not stop the president and Congress from coming together last week to avert a government shutdown by passing a 1.4 trillion dollar spending package.
The bipartisan agreement has something for everyone a 22 billion dollars increase to bring total spending on militarism to 738 billion dollars, and a 27 billion dollars increase to bring total spending on domestic programs to 632 billion dollars. It also imposes a national ban on selling tobacco products, including e-cigarettes, to anyone under 21.
The agreement was split into two bills. Both bills were unveiled last Monday afternoon. The bills passed the House on Tuesday, so only the House leadership and the members of the Appropriations Committee (and their staffs) who helped write the over 2,000-page deal had any idea what was in the bills. But most members voted for the spending bills because they were fearful of backlash over another Christmastime government shutdown. House leadership simply waived the rule requiring that all legislation be available at least three days before being voted upon.
The modern practice of funding the government via gigantic omnibus bills that are rushed into law puts the growth of government on autopilot. This practice also gives the president more influence over the budget, violating the spirit, if not the letter, of the Constitutions grant of authority to Congress to appropriate funds, which was intended as a check on executive power.
Meanwhile, the Federal Reserve continues pumping billions into the repurchasing market. When the Fed began injecting money into the market in September, it said intervention was a temporary measure to address a short-term liquidity shortage. Three months later, the Fed is not only continuing to bail out the repurchasing market, it is preparing for other bailouts. This is further evidence that we are on the verge of another Fed-created economic crisis.
When the crisis hits, the best thing the Fed could do is not to lower interest rates below the levels set by the market. This would allow consumers, businesses, and government to liquidate their debt and restore a sound foundation for future growth. If the Fed did not interfere with the painful but necessary correction, it would only be a short time before a real economic boom commenced.
The Federal Reserve is unlikely to follow this path because of the short-term pain it would cause debt-ridden consumers and, more importantly, the pain it would cause politicians who would be forced to cut spending and/or raise taxes. But continuing to artificially lower interest rates will inevitably result in an economic crisis brought about by a rejection of the dollars world reserve currency status.
The Federal Reserves manipulation of interest rates depreciates the dollars value, enabling the growth of the welfare-warfare state while enriching the insiders who receive the new money before prices rise. The brunt of dollar depreciation is felt by middle- and working-class Americans whose paychecks do not keep up with the rising cost of living.
Inflation is nothing more than a hidden and regressive tax. Auditing and ending the Fed should thus be a top priority of those concerned about rising income inequality and poverty, as well as those dreaming of a Christmas free of 2,000-page omnibus spending bills.
This article was published by RonPaul Institute.
Please Donate TodayDid you enjoy this article? Then please consider donating today to ensure that Eurasia Review can continue to be able to provide similar content.
More here:
Ron Paul: How Congress And The Federal Reserve Stole Christmas OpEd - Eurasia Review
- Ron Paul Forums / Rand Paul Forums - Grassroots Central Updates [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- The Ron Paul Institute for Peace and Prosperity : What the ... [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- The Libertarian Party Won't Let Ron Paul Speak at Their ... [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- Barnds brothers lawn and garden, Overland park, Kansas ... [Last Updated On: February 23rd, 2018] [Originally Added On: February 23rd, 2018]
- Ron Paul .com [Last Updated On: March 20th, 2018] [Originally Added On: March 20th, 2018]
- Aaron Paul, Ron Cephas Jones Round Out Cast of Apples ... [Last Updated On: June 19th, 2018] [Originally Added On: June 19th, 2018]
- Ron Paul presidential campaign, 2012 - Wikipedia [Last Updated On: June 29th, 2018] [Originally Added On: June 29th, 2018]
- Ron Paul: U.S. secession is already 'happening' | MSNBC [Last Updated On: June 29th, 2018] [Originally Added On: June 29th, 2018]
- Ron Paul tweets racist, anti-Semitic cartoon before ... [Last Updated On: July 4th, 2018] [Originally Added On: July 4th, 2018]
- Ron Paul Blames Shockingly Racist, Anti-Semitic Tweet On ... [Last Updated On: July 9th, 2018] [Originally Added On: July 9th, 2018]
- Ron Paul, former presidential candidate, tweets racist and ... [Last Updated On: July 9th, 2018] [Originally Added On: July 9th, 2018]
- Ron Paul: 'Trump Won' in Summit with Putin, 'Neocons Aren't ... [Last Updated On: July 19th, 2018] [Originally Added On: July 19th, 2018]
- Ron Paul warns that this is the 'biggest bubble in the ... [Last Updated On: July 19th, 2018] [Originally Added On: July 19th, 2018]
- Ron Paul disavows racist newsletters under his name - CBS News [Last Updated On: July 25th, 2018] [Originally Added On: July 25th, 2018]
- Ron Paul Exposes The Human Suffering Of "Cultural Marxism" [Last Updated On: July 25th, 2018] [Originally Added On: July 25th, 2018]
- The Ron Paul Institute for Peace and Prosperity : Spending ... [Last Updated On: July 28th, 2018] [Originally Added On: July 28th, 2018]
- Wikipedia Listed Ron Paul On White Supremacists List For ... [Last Updated On: August 1st, 2018] [Originally Added On: August 1st, 2018]
- The Ron Paul Institute for Peace and Prosperity : Neocons ... [Last Updated On: August 9th, 2018] [Originally Added On: August 9th, 2018]
- Ron Paul: The Mueller Indictments & The Triumph Of The Deep ... [Last Updated On: September 4th, 2018] [Originally Added On: September 4th, 2018]
- The Ron Paul Institute for Peace and Prosperity : Cant We ... [Last Updated On: September 4th, 2018] [Originally Added On: September 4th, 2018]
- The Ron Paul Institute for Peace and Prosperity : NAFTA 2.0 ... [Last Updated On: October 9th, 2018] [Originally Added On: October 9th, 2018]
- Ron Paul, Rising Political Star - CBS News [Last Updated On: November 12th, 2018] [Originally Added On: November 12th, 2018]
- Ron Paul: US is barreling towards a 50% or more stock ... [Last Updated On: November 13th, 2018] [Originally Added On: November 13th, 2018]
- Ron Paul Tweets Racist, Anti-Semitic Cartoon [Last Updated On: December 5th, 2018] [Originally Added On: December 5th, 2018]
- TNR Exclusive: A Collection of Ron Pauls Most Incendiary ... [Last Updated On: December 5th, 2018] [Originally Added On: December 5th, 2018]
- Ron Paul: Foreign interventionism isnt the America First ... [Last Updated On: December 5th, 2018] [Originally Added On: December 5th, 2018]
- Ron Paul's LANDSLIDE VICTORY! (327-98) | SVTPerformance.com [Last Updated On: December 17th, 2018] [Originally Added On: December 17th, 2018]
- The Ron Paul Revolution - Taki's Magazine - takimag.com [Last Updated On: December 17th, 2018] [Originally Added On: December 17th, 2018]
- Ron Paul: Market meltdown could spark depression-like conditions [Last Updated On: December 18th, 2018] [Originally Added On: December 18th, 2018]
- The Ron Paul Institute for Peace and Prosperity : Why The ... [Last Updated On: December 23rd, 2018] [Originally Added On: December 23rd, 2018]
- Ron Paul: US is barreling towards a 50% or more stock market drop [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- Ron Paul | American politician | Britannica.com [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- Ron Paul: Troops Out Of Syria And Afghanistan? That's A Good ... [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- Ron Paul: Troops Out of Syria and Afghanistan? Thats a Good ... [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- US needs to withdraw all troops from Mideast: Ron Paul [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- Ron Paul: Trump's decision to withdraw US troops from Syria ... [Last Updated On: December 29th, 2018] [Originally Added On: December 29th, 2018]
- Stem Cell Therapy - Top Rated Local Stem Cell Treatment In ... [Last Updated On: January 1st, 2019] [Originally Added On: January 1st, 2019]
- The Power of Stem Cells | California's Stem Cell Agency [Last Updated On: January 1st, 2019] [Originally Added On: January 1st, 2019]
- xkcd: Secretary: Part 2 [Last Updated On: February 19th, 2019] [Originally Added On: February 19th, 2019]
- Ron Paul - Official Site [Last Updated On: March 21st, 2019] [Originally Added On: March 21st, 2019]
- GOP candidates blast Ron Paul over Iran policy. Is one side ... [Last Updated On: April 5th, 2019] [Originally Added On: April 5th, 2019]
- 'Racist newsletter' timeline: What Ron Paul has said ... [Last Updated On: April 5th, 2019] [Originally Added On: April 5th, 2019]
- Ron Paul spent $35M, yet only got 40,000 votes nationwide ... [Last Updated On: April 5th, 2019] [Originally Added On: April 5th, 2019]
- RON PAUL: Is he the ONLY candidate who can speak PLAIN ... [Last Updated On: May 1st, 2019] [Originally Added On: May 1st, 2019]
- Ron Paul - amazon.com [Last Updated On: May 1st, 2019] [Originally Added On: May 1st, 2019]
- Ron Paul TV Archives & Latest Videos | MidEast News Syria [Last Updated On: May 1st, 2019] [Originally Added On: May 1st, 2019]
- Ron Paul: False Flag Could Ignite War in Venezuela [Last Updated On: May 2nd, 2019] [Originally Added On: May 2nd, 2019]
- The Dollar Is Going to Self Destruct: Talking Bitcoin With ... [Last Updated On: May 23rd, 2019] [Originally Added On: May 23rd, 2019]
- Inside Ron Paul's Counter-Convention | Vanity Fair [Last Updated On: May 23rd, 2019] [Originally Added On: May 23rd, 2019]
- Ron Paul: Julian Assange, Political Prisoner OpEd Eurasia ... [Last Updated On: May 23rd, 2019] [Originally Added On: May 23rd, 2019]
- Ron Paul | Abortion | Pro-Life Profiles [Last Updated On: May 23rd, 2019] [Originally Added On: May 23rd, 2019]
- Ron Paul, Author at Antiwar.com Original [Last Updated On: May 23rd, 2019] [Originally Added On: May 23rd, 2019]
- Rev. Ron Moore: Three reasons to be thankful - State-Journal.com [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- What Is Happening With Rand Paul? (2019-11-28) - Biology Reporter [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- 'I dont have a facade': How Kane went from WWE icon to elected office - Yahoo Sports [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- The Conservative Establishment's Nightmare Is Only Just Beginning - Washington Monthly [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- Texas' 22nd Congressional District: History of the Seat and a Breakdown of the Current Race - The Texan [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- Getting Hot Late Is Usually the Key to Winning Iowa - New York Magazine [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- Ron Paul: The Real Bombshell Of The Impeachment Hearings OpEd - Eurasia Review [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- Americans are sick and tired of impeachment and grandstanding & chicanery of both parties Ron Paul - RT [Last Updated On: November 29th, 2019] [Originally Added On: November 29th, 2019]
- McCain conservatives are rallying behind Justin Amash - Hot Air [Last Updated On: December 27th, 2019] [Originally Added On: December 27th, 2019]
- What it's like to shoot Cher, Anna Wintour and others at Met Gala - Page Six [Last Updated On: December 29th, 2019] [Originally Added On: December 29th, 2019]
- The 2019 Wypipo Awards: End of the Decade Edition - The Root [Last Updated On: December 29th, 2019] [Originally Added On: December 29th, 2019]
- Recreational bowling scoreboard - The Times Herald [Last Updated On: December 29th, 2019] [Originally Added On: December 29th, 2019]
- How Jaylen Brown and Jayson Tatum have found balance, complement each other, and propel the Boston Celtics - MassLive.com [Last Updated On: December 29th, 2019] [Originally Added On: December 29th, 2019]
- Why These Might Be The Most Competitive Iowa Caucuses Ever - FiveThirtyEight [Last Updated On: January 30th, 2020] [Originally Added On: January 30th, 2020]
- A Million Iraqis Asked Us To Leave We Should Listen - Antiwar.com [Last Updated On: January 30th, 2020] [Originally Added On: January 30th, 2020]
- How The Iowa Caucuses Work And Why They're Important | NPR - KCRW [Last Updated On: January 30th, 2020] [Originally Added On: January 30th, 2020]
- 12 Wild Hours With Andrew Yang - POLITICO [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Dwayne Haskins is 'All For Competition' To Be The Redskins Starting Quarterback - Redskins.com [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Andrew Yang makes his stand in New Hampshire - POLITICO [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Iowa and New Hampshire have no business leading the nomination process - The Dallas Morning News [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Unbuilt Portland: 4 big projects that never happened... yet - Pamplin Media Group [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Big Swinging Brains and fashy trolls: how the world fell into a clickbait death spiral - The Guardian [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Judy Shelton and the - New York Sun [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Pardon the Interrupters: meet the ska-punks with an InfoWars problem - Telegraph.co.uk [Last Updated On: February 29th, 2020] [Originally Added On: February 29th, 2020]
- Ron Paul: Trump Does The Bidding Of Deep State - The National Memo [Last Updated On: February 29th, 2020] [Originally Added On: February 29th, 2020]
- Health Care Is On Coloradans' Minds. This Is Where The 2020 Presidential Candidates Stand - Colorado Public Radio [Last Updated On: February 29th, 2020] [Originally Added On: February 29th, 2020]
- The immorality of US hegemony with Ron Paul - RT [Last Updated On: February 29th, 2020] [Originally Added On: February 29th, 2020]
- Afghanistan: 'Thank Allah We're Out of That Quagmire' - Consortium News [Last Updated On: March 8th, 2020] [Originally Added On: March 8th, 2020]