Tag Archives: Debt

Eleven Million Immigrants are Ready to Pay Part of the United States Debt – By Signing a Binding Contract with American Conditions

Eleven Million Immigrants are Ready to Pay Part of the United States Debt – By Signing a Binding Contract with American Conditions

 A Framework to Fix a Broken System

 How many “illegal” (the term for one side of the debate) or “undocumented” (the preferred term by the other side) immigrants are there in America? The Department of Homeland Security indicated about 10.8 million in 2009. So for the purpose of this proposed contract and article, we are going to say, “the 11 Million Immigrants” (11M), and this essential issue should be resolved with the American Citizens (AC) and not with any Democrat or Republican party.

Are these 11M individuals paying taxes? The answer is probably unclear; however, if the 11M hope to be legalized to make their dream come true in this country, they should stop those ridiculous protests on the streets, alienating more Americans, and then talk directly to the American Citizens before it is too late to find a solution. If the AC are fed up with the current broken system and the incompetence of the government, they should decide this issue and not the government. This sounds like utopia, but I may have found a way to appease the majority in this country: A win-win solution.

 The 11M are on a path (trapped) to lose their battle with their main party: the American Citizens. The 11M must convince the AC that, although they may have broken the law by the way they entered this country, they have something fundamental that AC need: They have the power to pay the American debt.

 However, the two main American parties are using the subject of immigration to revitalize their bases to prepare for the elections in November of this year, as they need the votes for their self-preservation as well as for their parties to continue in power. This is American politics, and this is better than one-party rule, or multiple parties confusing everybody without principles or philosophy. Yet with the immigration issue, nothing is going to be seriously done this year. Let me tell you why.

 About sixty percent (according to CNN) of Americans seem to be against immigration reform with citizenship and ask the government to enforce our current laws, while thirty-three percent (according to CNN) are in favor and ask the government to fix a broken system. Why is this about the AC and not Congress taking up immigration reform?  Because it is likely the current congress will not approve legislation with a clear path to citizenship a few months before the elections just to be unseated by the popular backlash against the reform. Nevertheless, the subject is just as important as agitating the bases to protest either in favor of or against immigration reform.

 I have heard for decades, over and over, politicians saying we need border security.  The government in fact has increased the budget and added more agents and more technology, but the problem continues. On the other side, I have heard politicians saying over and over that undocumented immigrants are doing jobs that Americans don’t want to do, and we need a common-sense approach. It is about energizing constituents to vote in each election by replaying the same movie.

And the worst of the worst: politicians are playing the racial card on both sides of the spectrum to make this issue a confrontation between Hispanic and non-Hispanic Americans even though the 11M are not all Hispanics. It is probably true that there are those who hate Latino communities, but this is a very small minority; we cannot assume that all 60% are racist.  As we all know, most of the people in this country are not native-American, and they are descended from immigrants as they are now first-, second-, third- or fourth-generation Americans. And these American Citizens have created what almost all of us believe in and feel: American Exceptionalism and the love for our country.

Most of the 60% of AC have concerns that are potential deal breakers. And these are the facts that are increasingly getting them fed up with the system:

-Most of the 60% are concerned that new laws will give more collective rights to government benefits (such as welfare, grants, financial aid, Social Security, Medicaid, etc.) while we have the worst fiscal deficit ever in America.  They also fear that new laws will permit illegal immigrants to compete with Americans for jobs at lower wages. Another primary concern of some politicians and others is if the 11M become American citizens and have a tendency to be liberal, this country will become a progressive country (moving to the left) like Europe on the path to becoming a Greece.

-Towns across America struggle to balance their budgets with a great part of their residents (11M) contributing very little or almost nothing to this country. 

 -Individuals use our public schools while  some (11M) or their parents contribute virtually no property tax dollars to our system. (A great amount of property taxes in America is for education.)

-Police provide services to everybody that lives in this country while the 11M contribute zero dollars to support the police department.

-Individuals commit crimes and overburden the prison system despite the fact they broke the law by entering this country illegally. (Let’s be clear that these individuals must not be here, and they are not part of this proposed contract as they are a small minority.)

-Individuals use healthcare at the emergency rooms contributing zero dollars to this service. 

 -Courts provide rights to individuals contributing zero dollars.

 -Individuals use public places such as parks, roads, etc. contributing nothing to our system.

 

All of the above perhaps does not apply to all of the 11M as some are fully in compliance with their taxes.

Most of the 33% of the Americans who support immigration reform have legitimate concerns about how to legalize the 11M or enforce the current law:

-Most of the 33% want a path to citizenship because we can’t indefinitely sustain a subclass in America. These immigrants, like others in the past, will evolve to become part of the American culture.

-Many in the 33% believe that even if we try to change the responsibilities of our adolescents (16-24 years old) to take over these jobs, we may need years or a decade to educate American families on these new duties with no guarantee of success.

-These are also families whose children are American citizens and strict enforcement of current laws will be a disaster for our child service system – not to mention the destruction of the families.

-In conclusion, most of the 33% of Americans think that it is just not realistic to deport or create deterrent actions against the 11M without disrupting the economy of this country. 

We all can go on and on to find ways to justify why we should have immigration reform and why we shouldn’t have it. For that reason, let me tell you a solution that involves a contract between the AC and the 11M.

My purpose is also to propose a solution to our deficit in social security, Medicare, government spending, etc. I am not going to argue whether the government should continue loading Americans with more debt or providing more services to those that have been disadvantaged or abused. I am proposing that the government approve their legalization and allow Americans to decide directly on the 11M’s path to citizenship.

These 11M have never been consulted or surveyed, but I feel that if we consult them, they may sign the contract to allow American citizens to decide in a referendum about citizenship because the 11M can prove to be good productive individuals, and their main dream is to be able to work out of the shadows, visit their families in their countries or obtain a driver’s license as they are probably better off here than in the current situation or in their countries. So congress may approve just this proposed framework-contract below and leave the path to citizenship to AC in a referendum.

Agreement Between American Citizens (AC) and the 11 Million Immigrants (11M) with no criminal record to fix the deficit and immigration in the USA:

1- This contract is between American Citizens and the 11 million undocumented immigrants that entered before March 31, 2010 to be executed with the intention of establishing specific purposes. Evidence supporting the date of entrance to be set by the Department of Homeland Security (DHS).

 2-The 11M must pay part of the debt as follows: Each of the 11M in America will pay a fine of ,000 for entering this country illegally or without authorization. This fine is to be used entirely to pay our debt. This is in compensation for having used our services without contributing to our system. 

3- The 11M will obtain a specific work permit valid for 4 years subject to renewal for another 4 years providing there is a company sponsoring this entry-level job all the time. The 11M may transfer to other companies with DHS authorization if it is a job approved by the U.S. Department of Labor.

4-The 11M must pay for the legalization process, not to exceed 0 per person. Process to be set by DHS. The legalization process expires in one year from the date of this agreement.

5- This contract specifically authorizes positions in entry levels as classified by the U.S. Department of Labor.

6- Every new person obtaining this work permit will pay a minimum of 20% in federal taxes collected by employers of which 25% must be collected to secure our borders, 50% to pay our debt and 25% to support our current systems.

7- Government may issue a bond for billion upon this agreement to secure our borders and enforce this contract. Securing our borders must occur within one year of this contract.

 8- Companies hiring any undocumented worker would be subject to a criminal process with imprisonment up to a year for the violation. 

9-The 11M now legalized can travel in and out of the country. 

10- The 11M now legalized can have their driver’s licenses corresponding to their state of residence. 

11- The 11M now legalized must obtain a legal social security number. 

12- The 11M must learn English by taking a 250-hour course in an institution recognized or approved by the Education Department or a private accrediting agency recognized by the Education Department. The 11M must also attend an American History course of 20 hours.

13-The 11M are not eligible for benefits provided by the government except for some emergencies determined by the Health Department in each state.

14- The decision to allow the 11M to be on a path to citizenship must be made within four years in the form of a referendum. A popular vote may be taken after the evaluation of the legalization process and effect on our debt. This referendum may also pose the time required to become a permanent resident and citizen as well as process questions.   

15- This referendum can take place only if the national unemployment rate is below 7%; if above 7%, the government can postpone the referendum until unemployment falls below 7%. 

Some may disapprove of the idea of walking out of the shadows without a clear path to citizenship, yet I know the 11M will be essential contributors to this country, and we can not leave them for another 10 years without a solution while they continue to be used as a weapon by politicians.

Some may say these are families, and we are converting them into numbers. The truth is that if the 11M are consulted, most of them may be willing to pay their taxes as long as they come out of the shadows. On the other side, the truth is that the majority of American citizens will not accept an immediate path to citizenship until it is established that the 11M are here to contribute and become part of the evolving American cycle to sustain the American way of life. 

Some may say also this is exploitation, but the truth is that many of the 11M will be better off than in the current situation or in their countries; many may want to return to their countries as soon as they have some savings. After all, this is a better way than allowing China, Japan and others to take over our debt, and we just pay the Chinese government and/or investors over billion a year in interest.

 Obviously, there is always the argument that China is exporting very cheap products to enlarge the AC purchasing power. Government debt is somewhat like a family with an unlimited credit card that increasingly borrows all the time. The problem is that these unlimited loans usually send families into bankruptcy and the same with governments. This is capitalism, and most of us at one point need a loan. Yet the chicken-and-egg bitterness continues on how to manage the debt, and it is far from being resolved. So I am offering a win-win solution between the immigration problem and the contribution to the national debt.

As for those who worry about creating a subclass in America:  we have already had it for more than two decades, with the added disadvantage that AC are forced to pay for most its consumed public services.

So the balanced approach should be legalization yet without a path to citizenship now. Let them prove to the American Citizens that they are productive people. The majority of the 11M want an opportunity to legalize their situation to demonstrate that they are productive people. They will become Americans by merit.

Countries are successful if they have productive individuals. If we compare the United States territory with other main partner countries, the U.S. has the capacity to support over a billion people easily, and the AC may be willing to give the 11M the opportunity to prove that they want to be productive, contribute and love this country, but the record must be proved to be a good one. Most politicians know the country’s future is to bring in only productive people, but they are afraid to be unseated, along with their parties, by their bases (voting groups) in November. In less than two decades, more people will be retired than working. The American fertility rate is below the required level (1.6) to sustain our culture in the future. We really need good, productive people. 

For these reasons, I have created a framework of 15 points to establish a contract with Americans in which the majority of the 11M, who most likely just want an opportunity to earn a decent living and travel to see their families, will then be able to come out of the shadows, to obtain a driver’s license and a social security number so that we can count on them.

 Please add your email or signature below to show support for this proposal and send this form to

61 Broadway #Suite 1910, New York, NY Zip:10006. You must be in the United States to sign it.

 _ I support this proposal.

Please put your signature below

__________________________________

 

Please put your emails below

 __________________________________

 As for our students, here is an exercise for the classroom:

Q and A Jigsaw groups. Each group must offer a solution for this problem in America.

 

Note: The main reason I have written this article is to show my concern. I do not advise anyone to protest nor do I represent any particular community nor am I in any way an attorney on record. I don’t want our community to be in a cross-fire in an election year.

You may also email me as signature at contact@11m-american.com to present the support of this proposal to the government.

By Zoilo C. Nieto, President and CEO, Zoni Language Centers 

United States Government Debt is Increasing Rapidly

United States Government Debt is Increasing Rapidly

United States government debt, also referred to as the national debt or United States total public debt, is the amount of money owed by United States federal government to holders of U.S. debt instruments.

The total Public debt includes state and federal debts which is owed to corporations, individuals and foreign governments. But, this debt excludes all social security debts and intra-governmental obligations.

Some of the federal securities held by the public include Bonds, Treasury Bills, United States Savings Bonds, Notes, TIPS and State and Local Government Series securities.

External debt includes debts which both the public and private sectors owe to foreign people and organizations. Foreign ownership of public debt is a substantial part of the total national debt.

When U.S. federal debt passed the trillion mark on 30th September 2008, public debt stood at .3 trillion.

Further debts included Social Security obligations, Medicare, Medicaid and others.

A division of United States Department of the Treasury, the Bureau of the Public Debt, calculates the amount of money owed by the government daily.

Budgeted and non-budgeted spending has pushed total debts upward by around 0 billion each year since 2003. The budget deficit fell from 8 billion in 2005 to 2 billion in 2007, but moved sharply up again to 5 billion in 2008.

There have been regular warnings from the U.S. Treasury Department, Office of Management and Budget (OMB), and the Government Accountability Office (GAO) that debt levels are sure to increase dramatically due to social programs like Medicare, Social Security, Medicaid and interest owed on outstanding debts.

There are estimates that benefits under entitlement programs could exceed government income by more than trillion in the next half century.

If the changes which they propose are not done, some experts claim that federal expenditures could surpass federal tax revenues by sizable margins in a shorter period than that.

The Beginning of Federal Debts

Public debts have been a part of its existence since the United States of America came into being.

The first reported value of public debt was ,463,476.52 on January 1, 1791. This was a combination of debts that were incurred during the American Revolutionary War and the creation and implementation of the Articles of Confederation.

Debt continued to increase over the next half-century.

It was brought down to zero for a short period in early January, 1835.

After that, the debts just kept increasing.

The Civil War in America was responsible for a huge surge where debts rose from million in 1860 to more than billion in 1863.

The following year, it stood at .7 billion.

There were a few fluctuations during the rest of the century. But, strong economic growth was recorded through most of the period from 1800 to 1912.

Then, debts started increasing again. It was around billion during the 1920s, the World War I period.

History repeated itself and debts grew to an alarming 0 billion by the end of World War II from a figure around billion in 1940.

Public debt and inflation soared in tandem during the nineteen-eighties. The nineties saw the debts increase by about two hundred percent within a decade.

Better results were achieved towards the close of the century.

But, debts then started climbing quickly again.

Public debt stood at about .9 trillion at the end of 2005. This was about 8.7 times the level of public debt in 1980.

For the greater part of the last half-century, America had enforced a debt ceiling. The Treasury could issue as much debt as the government required as long as it was within the specified ceiling.

Over time, the United States Congress passed new laws which caused fairly regular increases in the level of the ceiling.

Congress increased the debt limit to .815 trillion in September 2007.

In July 2008, the ceiling was again raised to .6 trillion with the passing of new laws to accommodate the bailout of mortgage giants, Freddie Mac and Fannie Mae.

Congress used to approve legislation for each debt issuance. It was decided that this was no longer possible because of the growth of fiscal operations in the twentieth century.

As debt is spiraling out of control you can take action and survive, and create your own personal financial security.

Categorization of Public Debts

Public debts are of two main types:

1. Marketable and Non-marketable securities held by the public

2. Securities held by government accounts

Ownership

Public debt holders cover a huge group of people that owning bills, notes and bonds.

The U.S. Treasury regularly publishes data providing information about the holders.

The foreign and international holders of the debt are also put together from the notes, bills, and bonds sections.

More than half of the total national debt is owed to the Federal Reserve and intergovernmental holdings.

According to reported figures of the US government in September 2008, it has supported its obligations to bailout home mortgage companies of Freddie Mac and Fannie Mae through the Housing and Economic Recovery Act of 2008.

The balance sheet obligations of these two companies are over trillion. The Government does not account for these obligations in its current balance sheet.

The U.S. Treasury contracted to receive US$ 1 billion dollars in senior preferred shares and a warrant for 79.9% of common shares from each of these Government Sponsored Enterprises or GSEs.

This was done to maintain adequate capital ratios in the enterprises and ensure essential solvency. This is, effectively, nationalization of the companies.

Some people claim that some of these US governmental actions place taxpayers’ funds at some risk. The effects of the takeovers may not be predictable immediately. The overall picture will probably only come into focus later.

At the time of the takeover, more than 98% of Fannie’s loans were being repaid in a timely manner.

Both these companies are claimed to have had a positive net worth where their assets were valued much higher than their liabilities.

The Congressional Budget Office has directed incorporation of the assets and liabilities of these two companies into the federal budget. This shows the extent of governmental control over these entities.

Foreign Ownership

Presently, foreign governments are said to have about 25% holding of total US debt.

This figure was about 13% in 1988.

US Treasury statistics indicate foreigner organizations and individuals held 44% of federal debt held by the public in 2006. Two-thirds of this was held by central banks of countries like China and Japan.

Although there was a fall in such investments in 2007 due to the depreciating value of the US dollar at the time, but foreign investors continued investing in US-dollar–denominated instruments.

This exposure is claimed by some to pose a threat of some scale to the US economy.

If the foreign investors start selling Treasury securities or stop purchasing them, some people claim that it might cause significant losses.

It seems that such losses may be a very unlikely situation but the possible effects from such a theoretical situation becoming reality must be considered when decisions are being made.

Central banks of Sweden, Russia, Italy and the United Arab Emirates reduced their dollar holdings marginally in 2006.

Kuwait and Syria discontinued pegging their currency exclusively to the dollar in 2007.

These occurrences may not be pointers to what could happen in the future.

As you can see from this information the recession ahead could be long lasting and it is everyone’s responsibility to take action to survive the current crisis. You can find out how to protect yourself and your family, and come out of the current crisis in a stronger situation with this new ebook Surviving the Debt Crisis.

Craig Maugham is a pen name. Craig has a background in research and reporting but felt that the subject and content of this book was too controversial to be released under his own name.


The author has done his best to provide a balanced account of how the crisis developed and gather the best information and theories, from a wide range of sources, about how to survive the current situation and be better placed to thrive in the future.


He believes that much of what is written about the situation is colored by personal or institutional bias.


Craig says, “The size and urgency of the current situation makes people suspicious and likely to react strongly against anyone that expresses a view which they do not agree with. This could affect the public perception of myself and the various organizations which employ me from time to time.”


You can get this book today from http://www.survivingthedebtcrisis.ebooks-excel.com/

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