3/13/13: Annual Deficits & Accumulated Debt

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NEXT MEETING

PLEASE SCROLL DOWN TO THE NINTH (FIRST UNNUMBERED) SECTION BELOW FOR INFORMATION ABOUT OUR NEXT MEETING.


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WHO/WHAT WE ARE

We are a U.S. public-policy monthly discussion group founded in the Fall of 2005 that meets on the third Wednesday of each month (with adjustments to avoid secular/religious holidays).

Since February 2020, we have met via Zoom. [For the first 14.5 years of our existence, we met at the Salt Lake City Library (210 East 400 South) with remote participation via Skype.]

The topic is selected by the attendees of the previous month’s meeting. The focus is usually a book but frequently comprises only news items from magazines/newspapers/etc. This bulletin board serves, inter alia, as a place for members to post comments or additional reference materials prior to each meeting.

Our attendance averages 11-12. Participants come from all walks of life but our regular attendees include 4 attorneys and 3 scientists.

There are approx. 225 recipients of our weekly newsletter, many of whom reside outside Utah and participate by Zoom.

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40 SIX-DEGREES-OF-SEPARATION E-MAIL CAMPAIGNS, 4 REPORTS & 9 REPRISES

We take great pride in our Six-Degrees-Of-Separation E-mail campaigns to America's decision makers which, with only a few computer keyboard key strokes, can be sent by each of our members (1) to the decision maker, and (2) to all of the member's friends and acquaintances requesting them to do the same in an unending chain.

Accordingly, we also take great pride that each of our official recommendations has been approved unanimously at one of our meetings or, at most, received only one dissent.

All 40 e-mail campaigns over the years are collected in this section. They include 10 e-mails sent by John Karls that did not receive an official endorsement for the rest of our members to send. The titles of the 30 official recommendations are ALL CAPS and the titles of 10 unofficial recommendations are lower case.

The date of the meeting at which each of the 40 campaigns was adopted is listed so that voluminous additional information about that campaign can be accessed by scrolling down to the sections of this bulletin board that relate to that meeting.

In addition, there are four items whose descriptions begin with “REPORT.” They are reports of our Great Salt Lake Working Group which was formed IAW our “Short-Time Fuse” procedures described in the next section of this bulletin board.

There is also a 1/20/2021 “Report” of our JCPOA Working Group.

Finally, there are eight items whose descriptions begin with “REPRISE.” They describe additional actions that were taken IAW previous official e-mail campaigns to bring their approved policies to the attention of additional decision makers.

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SIGNING UP FOR OUR WEEKLY E-MAIL

If you would like to receive our weekly newsletter, please send an e-mail to ReadingLiberally-SaltLake@johnkarls.com with a subject, “Please Add Me To Weekly E-mail List.”

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SIGNING UP TO POST ON THIS BULLETIN BOARD

Due to sabotage and porn attacks, only attendees of one or more of our meetings are permitted to post on this bulletin board.

If you have attended one of our meetings and would like to register to post something, please send an E-mail to ReadingLiberally-SaltLake@johnkarls.com with the subject, “Please Register Me For The Bulletin Board.”
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johnkarls
Posts: 2034
Joined: Fri Jun 29, 2007 8:43 pm

3/13/13: Annual Deficits & Accumulated Debt

Post by johnkarls »

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---------------------------- Original Message ----------------------------
Subject: Topic for April 10th + Unofficial Six-Degrees-Of-Separation E-mail Campaign
From: ReadingLiberally-SaltLake@johnkarls.com
Date: Sat, March 16, 2013
To: ReadingLiberallyEmailList@johnkarls.com
Bcc: Our Approximately 150 Recipients Of Our Weekly E-mail
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Dear Friends,

[Information about our next meeting omitted.]

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UNOFFICIAL SIX-DEGREES-OF-SEPARATION E-MAIL CAMPAIGN

We take great pride in our Six-Degrees-Of-Separation E-mail campaigns to America's decision makers such as President Obama which, with only a few computer keyboard key strokes, can be sent by each of our members (1) to the decision maker, and (2) to all of the member's friends and acquaintances requesting them to do the same in an unending chain.

Accordingly, we also take great pride that each of our recommendations has been approved unanimously at one of our meetings or, at most, received only one dissent (in which case we say there was a "consensus" rather than "unanimity").

However, because of your Constitutional Rights of Freedom of Speech and Freedom to Petition, we have always included in our newsletters any proposed E-Mails that did not receive approval but were nonetheless sent to the Decision Maker by the proposing member.

The following E-Mail has been sent to President Obama by John Karls. However, two attendees of our 3/13/2013 meeting objected to the proposal so it is not official.

If any recipient of this newsletter would like to start her/his own E-Mail Campaign based on the following E-Mail to President Obama by John Karls, the E-Mail itself should be self-explanatory. And our other E-mail Campaigns posted on http://www.ReadingLiberally-SaltLake.org will suggest how yours can be designed to reach every American with only a few computer keyboard keystrokes by each.

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President Barack Obama

Re: Annual Deficits & Accumulated Debt

Dear Mr. President:

Thank you for all of your efforts on behalf of our country.

However, recently you have been quoted as saying that our country’s annual deficits and accumulated debt do not pose a threat to our economy during the next decade.

This implies that you agree that when a country’s debt (which includes its own currency which is nothing more than zero-coupon infinite-maturity debt obligations) becomes worthless, there loom the historical disasters of 1930’s Germany starving while trying to run on the British Pound Sterling and 1990’s Russia starving while trying to run on the U.S. Dollar.

It would appear your equanimity results from ignoring the total accumulated U.S. governmental debt which now exceeds 100% of GDP and focusing solely on debt that is not held by U.S. governmental agencies such as the Social Security Trust Fund. According to the U.S. Treasury, this public debt amounts to only $11.9 trillion and, according to http://www.cia.gov, only 73.6% of GDP for 2012, though growing at an annual rate of 7.6%.

Although it is true that the debt of most of Europe’s “problem children” countries (Portugal, Italy and Greece) exceeded 100% of GDP, Spain’s debt was only 68.5% of GDP in 2011 (according to http://www.cia.gov) when its debt came under attack because of the size of its annual deficits which would bring its debt to 83.2% of GDP for 2012.

Accordingly, the U.S. is already at the brink where Spain’s debt came under attack = 73.6% of U.S. GDP for 2012 + 7.6% = 80.2% of GDP currently and, like Spain in 2011, continuing to mushroom.

Moreover, Spain (and Europe’s other “problem children” countries) were saved in mid-2011 by the U.S. Federal Reserve which guaranteed all debt issued (1) before 12/31/2011 by the Spanish and Italian Governments, and (2) before 2/1/2013 by all European banks (not just Spanish or Italian banks).

Unfortunately, there is no Celestial Reserve Bank that can guarantee the U.S. government’s debt or currency, the way the U.S. Federal Reserve was able to bail out Europe.

Accordingly, it is respectfully suggested that you be more cautious in your actual attitude (vs. your rhetoric) regarding the U.S. government’s annual deficits and accumulated debt. Indeed, you might even consider proposing a Balanced Budget Amendment to the U.S. Constitution requiring, say, 60% Congressional approval for any unbalanced budget or resulting increase in the national debt.

Thank you for your consideration.

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We hope to see all of you on Wed evening April 10th!!!

Your friend,

John K.

PS - To un-subscribe, please press "reply" and type "deletion requested."

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