"That is why I am introducing

The National Emergency Employment Defense (NEED) Act of 2011.

It will end the debt.

 It will rebuild America.

It will make the American Dream a reality for everyone;

for today’s generation and for the generations to come.

It gives our youth unrivaled career opportunities.

The NEED Act assures a sustainable fiscal path.

It can reduce deficits to nothing, without tax hikes,

spending cuts, or inflation.

And it will pay off the national debt as it comes due.

My legislation can end the recession, unemployment

and the foreclosure crisis.


The Constitution vests the power over money with Congress.

Congress gives this power to the banks.

In the last 10 years, banks have added an average of $500 billion

to the money supply per year.

This is a huge amount of power that Congress has given away.


The banks have shown that they’re incapable of using this power responsibly,

or in the widest economic interest.


Instead they’ve wasted most of it by pumping it into a series of unproductive bubbles.


The loss to the nation is truly enormous,

especially considering the opportunity cost of the real wealth

that could be created with first use of that money."




Egilsstaðir, 19.08.2011 jg