Thread: Petition calls for Constitution, common sense to prevail

STOP SPENDING!
A campaign to rein in Congress, president
Petition calls for Constitution, common sense to prevail
http://wnd.com/index.php?fa=PAGE.view&pageId=91653
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Posted: March 15, 2009
9:58 pm Eastern

© 2009 WorldNetDaily

WASHINGTON – Do you believe massive government deficit spending can pull the American economy out of the worst economic crisis since the Great Depression?

If not, you may want to grab the attention of your elected officials in the nation's capital, because they are already planning still more emergency stimulus packages and bailout schemes.

"There's only one thing that can stop this madness now," says WND Editor and Chief Executive Officer Joseph Farah. "That is massive – and I mean massive – public expressions of outrage and objection. Members of Congress and the president need to know they are not going to be returned to office in 2010 and 2012 if they continue to follow this failed path of socialism and generational theft. They need to know Americans won't stand for their country being stolen away from them. That's why I am launching this petition campaign."

Farah has had success with two other previous petitions on WND – one to help free U.S. Border Patrol agents Ignacio Ramos and Jose Compean from prison, and another that has gathered more than 330,000 names calling on all controlling legal authorities to establish conclusively that Barack Obama is constitutionally eligible to serve as president.

The Ramos and Compean families credited WND's campaign with helping to secure a commutation of their sentences, and the eligibility petition is still being used to get hearings for some of the lawsuits pending on that issue.

However, Farah believes dealing with this issue of deficit spending by government is critical to averting an economic crisis that could rival the Great Depression in scope.

"We're simply repeating the mistakes of the past with these policies," he said. "Debt is the problem. How do you alleviate the problem by increasing the debt? This approach of massive government spending was tried by Franklin Delano Roosevelt and failed miserably. After two terms and eight years, the Depression was worse than when he first took office, by any standard of measurement. Only World War II pulled the country out of it. Are Americans ready to endure economic misery for that long – or longer?"

If you agree that government needs to stop the crisis spending as a prelude to recovery, Farah urges you to sign the petition before America's economic and political institutions are irreversibly damaged.

SIGN THE PETITION TO DEMAND THAT CONGRESS AND THE PRESIDENT HALT OUT-OF-CONTROL SPENDING.
http://www.wnd.com/index.php?fa=PAGE.view&pageId=91616

ONLY those who are REALLLY OVER invested in CHINA would think about such a silly silly idea as not continueing to spend.

I hope Treasurys do lose value and american products become cheaper internationaly.

China does not want us to spend


China worried about safety of U.S. debt
Premier Wen says China's large stake in U.S. Treasurys could lose value from massive U.S. deficit spending.


BEIJING (Reuters) -- Premier Wen Jiabao held out the prospect of extra stimulus spending if needed to hit China's 8% growth goal this year and called on Washington to ease worries Beijing has about the safety of its vast U.S. assets.

In his annual news conference ending the nine-day session of China's ceremonial parliament, Wen on Friday reaffirmed China's commitment to keeping the yuan broadly steady and noted that the currency, far from having depreciated, had been rising in value.

Wen, who fielded questions for well over two hours, said the 8% growth target was a measure of his government's confidence and a reflection of its commitment to keep raising living standards. But he said the task was not easy.
0:00 /1:03China to expand stimulus

"I believe that there is indeed some difficulty in reaching this goal. But with effort it is possible," Wen said.

"Only when we have confidence can we have courage and strength, and only when we have courage and strength can we overcome difficulties," the avuncular Wen, 67, said.

The premier said Beijing expected to see results from President Barack Obama's economic recovery plan but expressed concern that massive U.S. deficit spending and near-zero interest rates would erode the value of China's huge U.S. bond holdings.

China is the biggest holder of U.S. government debt and has invested an estimated 70% of its $2 trillion stockpile of foreign exchange reserves, the world's largest, in dollar assets.

"We have lent a massive amount of capital to the United States, and of course we are concerned about the security of our assets. To speak truthfully, I do indeed have some worries.

"I would like, through you, to once again request America to maintain their creditworthiness, keep their promise and guarantee the safety of Chinese assets," Wen said.

U.S. Secretary of State Hillary Clinton voiced her appreciation during a visit to Beijing last month of China's continuing "well-grounded confidence" in U.S. Treasuries.

Any big switch by Beijing out of U.S. Treasury bonds would drive prices lower, inflicting the very losses Wen fears. Still, his remarks, along with the lure of surging share prices, helped depress U.S. Treasuries in Asia.

China's central bank weighed in later with criticism of America's "inappropriate" economic policies, including low savings and high consumption, and said the global crisis had its roots in what it called an unchecked issuance of dollars.
Keeping some powder dry

Wen was speaking at the end of a week in which China has reported a record decline in exports in February and record-low industrial production growth in the first two months of the year.

The weakness was partly offset by a surge in bank lending and strength in fixed-asset investment in response to the 4 trillion yuan ($585 billion) stimulus package that the government unveiled on Nov. 9 in a bid to secure 8% growth this year.

Wen disappointed investors a week ago, in his annual report to parliament, by failing to announce an increase in the size of the package, which aims to boost domestic demand and so take up the slack left by a free-fall in exports.

But he said markets had failed to grasp that the government was already providing relief over and above the stimulus: taxes would be cut by at least 500 billion yuan this year, pensions were going up and teachers' salaries would rise.

What's more, the government had kept some powder dry in case the global economic crisis, already the deepest since the 1930s, got even worse.

"We have prepared enough ammunition and we can launch new economic stimulus policies at any time," he said.

A tightly managed budget and years of rising tax revenues powered by strong economic growth meant the government could now afford to borrow to support the economy.

"We now have more leeway to run a larger fiscal deficit and take on more debt," Wen said. "The most direct, powerful and effective way to deal with the current financial crisis is to increase fiscal spending -- the quicker the better."
Steady as she goes

Some officials and economists believe China should also try to quicken its economic recovery by pushing down the yuan, also known as the renminbi, to make the country's exports more competitive on global markets.

Switzerland's central bank on Thursday fanned speculation that a global round of competitive devaluations could be at hand by intervening to weaken the Swiss franc to help fight deflation.

Asked whether China would let its currency depreciate, Wen said this did not accord with the facts: because European and Asian currencies had fallen hard in the past year, the yuan had been gaining in value, putting pressure on China's exports.

Wen restated China's long-standing determination to keep the yuan basically steady and said Beijing alone would set the course of the currency. "No other country can put pressure on our country to depreciate or appreciate the renminbi."

Attaining 8% growth is the absolute priority of China's ruling Communist Party, which has staked its claim to legitimacy on ensuring ever-rising living standards and fears social unrest if growth slips below that threshold.

Twenty million migrant workers have already lost their jobs due to a collapse in exports and a slump in construction.

"The problem of unemployment is a very serious one," Wen said. The country was still stable, but he added: "Our government will take this a hundred times more seriously and never become complacent." To top of page

PETITION TO CONGRESS AND PRESIDENT
TO HALT OUT-OF-CONTROL SPENDING
To: Congress of the United States, President of the United States
Whereas, the Constitution of the United States clearly and specifically limits the scope and authority of the federal government under the enumerated powers clause;

Whereas, the encouragement of private and public debt by the federal government has brought America to the brink of financial devastation;

Whereas, history proves government spending has never succeeded in curing an economic downturn, but rather serves only to deepen and prolong it;

Whereas, government takeovers of banks and financial institutions move America ever further from the free-enterprise principles that have brought the nation prosperity for 233 years;

Whereas, bailouts of failing corporations represent a counterproductive response to what is, essentially, a government-induced crisis;

Whereas, the current level of irresponsible government spending will, by all accounts, either bankrupt this country or burden our children, grandchildren and great-grandchildren with never-ending debt;

Whereas, redistribution of wealth by government for the purpose of achieving "social justice" is immoral and a proven failure:


SIGN THE PETITION
We, the undersigned, assert our rights as citizens of the United States in demanding an end to all further "stimulus" spending, corporate bailouts, "earmarks," pork projects, welfare programs, higher tax rates and attempts to nationalize industries. We reject socialism, no matter how it is packaged. And we pledge to hold accountable any and all elected officials who continue to pursue this course that is rapidly leading America to ruin.


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http://www.wnd.com/index.php?fa=PAGE.view&pageId=91616

Simple ... IF you have massive investment in CHINA such as a factory or other large investments Petition

If you like to make things that people want to buy because they are cheaper let the dollar fall against the yuan

Spend Congress spend it will keep us in line with those who want to manipulate curency around the world.

IF you are RICH i mean REEEEALLLLY rich you own slave factorys in CHINA HALT spending.