The Spiraling Morality of the US Government (Part-1)
United States, undoubtedly is a land of opportunities. Technologically advanced, pioneer of innovations, home to more than 400 or 30% billionaires in the world. It houses some of the greatest thinkers of the world. Reaching out to the moon, or chasing a comet. Making communication easier and easier, connected the world together with Internet. A few decades back that all of this would have been an imaginary vision of the future. And United States did its job in realizing this vision. In short this country has revolutionized the way the world thinks. But does that also hold for the morality of the laws its government have made? Let’s have a look on some of its controversial actions in this direction which its citizens will definitely not like.
At first glance it seems such a transparent system that each candidate can legally be funded by corporations or in other word it’s not illegal for political entities to be funded by corporations. The government too can earn a lot of money by taxing that amount. The corporations mainly fund the politicians because they want the Government to frame policies which takes their interests above everyone else. This means they will have higher say in every policy the Government makes.
Consequences of Political Lobbying are very diverse. The government may use countries resources for the benefit of a few, neglecting the say of its own citizens. Like the Oil drilling Issue in Michigan last month. It can neglect to act on some of the overall beneficial projects, and the corporations may then have to legally bribe the politician, to make them act!
A major consequence of this legal bribery is the World Peace, Government’s international policies may tend to secretly support some corporations. The US defense Industry is perhaps the top in the list of US corporations in terms of revenue. But peaceful times are some of the worst time for their business. These Industries thrive on global wars. They make billions of dollars of money out of these wars. In other words the money US spends on war goes to these Defense Industries. If these wars doesn’t happen the money would have been used for public benefits. In other word the government diverts money meant for the public to benefit these defense companies. You just need to look back a little while and see, on what basis were those wars fought, and did the government deliver what they promised? I am certain you will get that answer.
Also this political lobbying is linked to the US Federal Reserve, Surprised??? Don’t be, let’s get to the next point.
United States Federal Reserve:
The United States Federal Reserve acts as an Independent unit within the government. Many argue that its chairman is the second most powerful man in the United States. And the chairman is not elected but chosen. Their office term spans too many presidential terms, effectively making them more powerful than the president itself. But the Fed Reserve has failed in its duties and purpose for which they were established.
Since it's inception, the country has gone through many troughs of depression and in all of them the feds have failed miserably. In contrast the feds used billions of US money to bailout private banks for example the $80 billion bailout of AIG , but this was at the cost of thousands of US citizens losing their jobs from several smaller firms which needed government bailout but didn’t receive any. The Fed overvalued the AIG while pulling it out of financial crisis. And many say that the Feds never expected that AIG will ever pay back the loan while bailing out them. Now just try to connect it to the political lobbying, you will get my point.
The Feds policy has made many US citizens succumb to high overload of debts on their heads, effectively making them their slaves. Josh Bivens, a Research and Policy Director at the Economic Policy Institute, calls the data of US citizen’s debt figure a "powerful" reminder to the fact that many Americans are still battling for economic stability since the end of the recession. "This is yet another really bad legacy of the Great Recession that we're just nowhere near climbing all the way out of," he said.
According to Robert E. Prasch who is a Professor of Economics at Middlebury College: “The White House, Treasury, and the Fed have never failed to remind the citizenry that the several bailouts of 2008-09 “succeeded” in the narrow sense that most of the nation’s largest financial services firms survived. By contrast to these privileged firms, over 400 smaller banks were allowed to fail, millions of people lost their jobs, and millions lost homes to foreclosure, many of the latter in proceedings later found to be of dubious legality.”
The Fed is unconstitutional. Thomas Jefferson argued that Congress has no authority to create a bank and give it a monopoly over our money, because such actions “are not among the powers specially enumerated” in the Constitution.
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