We Can Pay Off Our National Debt Within a Decade with Freed Money Technology and the Denver Plan, Claims Congressional Candidate J. Moromisato

/PRNewswire/ -- The Following is the fourth of a six-part statement by J. Moromisato.

4. A Zero National Debt Within a Decade Can Be Achieved with Freed Money Technology and the Denver Plan

With a growing national debt, now about 100% of our GDP, saddling our country with near $400 billion in interest payments every year, shouldn't we worry about reaching a breaking point?

There is the Denver Plan solution, which the mainstream media continues to ignore. It may be up to you to spread my message until the powers-that-be pay attention and do something about our dysfunctional financial system.

The Denver Plan explains how all the money government overspends, namely the annual fiscal deficit, goes one way or another into the pockets of the super-rich, which they in turn lend to the government in exchange for tradable securities that increases their wealth.

The Denver Plan proposes the establishment of Freed Money, which would decouple, or disconnect, the savings of the rich to the all-important flow of credit; this would enable the government to gradually raise taxes on the super-rich to the levels prevailing in the 1950s and 1960s -- when our country enjoyed the longest period of sustained economic growth.

Freed money would allow the Fed to replace all the privately held debt with bank-debt to the Fed, and the interest paid by the banks would thus constitute a new revenue stream for the government. How big would this be? The total outstanding debt in the U.S. is about $50 trillion, of which about $35 trillion are owed by private entities; at some point, perhaps a decade or so in the future, all that debt would become assets to the Fed; at a 4% interest rate, the interest to be earned by government would be $1.4 Trillion, that is larger than the total income tax -- from individuals and from corporations -- collected last year.

The combination of new interest and higher taxes revenues would enable the government to gradually pay the national debt -- now around $15 trillion. Furthermore, since the Fed would own that debt, and would return the interest it accrues to the Treasury, the government would save that $400 billion from its budget every year.

Family Research Council: Senator Baucus Undermines President Obama's Abortion Funding Claim

/PRNewswire/ -- Yesterday U.S. Sen. Max Baucus (D-MT) introduced a detailed summary of his "America's Health Future Act of 2009" that will be marked-up in the Senate Financial Services Committee next week.

The Baucus legislation explicitly includes abortion and would subsidize health plans that cover all elective abortions and moves well beyond the status quo of preventing federal funds from paying for abortion or subsidizing plans that covers abortion as is prevented under current laws governing Medicaid, the Federal Employee Health Benefits Plan and the State Children's Health Insurance Plan. On Friday morning at the Values Voter Summit, this issue will be discussed in greater detail during a congressional panel discussion.

Responding, Tony Perkins said:

"Senator Baucus' new health care bill puts to rest the President's claim that 'abortion is not included' in the Senate health care bill. The Baucus plan includes abortion, pure and simple. Like the Capps abortion amendment in the House bill, the Baucus plan would subsidize health plans that cover elective abortions but with tax credits. The accounting used in the bill is a matter of smoke and mirrors, since elective abortion is authorized for health plans receiving government subsidies.

"The Baucus bill goes even farther by mandating that there be at least one health plan in each region across the country which covers elective abortions. Such a government mandate of abortion-covered plans in each state exchange and subsidizing such plans does little to prevent 'federal funding of abortion' as President Obama said last week. Moreover, the Baucus bill would spend $6 billion to establish health care co-ops and this funding could be used for elective abortion because it is not subject to the Hyde Amendment appropriations provision.

"If President Obama is serious about preventing funding for abortion in health care reform, he should immediately support adoption of Democrat Rep. Bart Stupak's amendment to exclude abortion from all health care reform legislation. Democrat Senator Bob Casey voted for such an amendment in the Senate Health Committee.

"It's time for President Obama to stop the smoke and mirrors on abortion and health care and straightforwardly tell Congress to permanently exclude abortion coverage."

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