Americas Next Move

Aug 5, 2011 by Editor Fred D

Balancing the budget was an obscene plan. No one in their right mind would think that the United States of America should have a balance budget amendment just because the states have one. Reality though is a different matter.

Italy

Rome’s government is putting forward several reforms to stabilize their economy. They plan to amend their constitution to make a balanced budget mandatory. According to the Financial Times “a second constitutional change that would force “closed professions” to liberalise services, a speeding up of welfare reforms, and other structural reforms designed to boost Italy’s stagnant economy.” Elected official’s salaries and subsidies to political parties will be cut.

This news has been welcomed in Berlin, where the government has dismissed a proposal to increase the European Commission plan to increase the bailout fund.

Switzerland

Geneva, because of its financial competence, is being punished investors seeking a safe haven. The Swiss franc has increase in value as investors are dumping both American and Euro dollars. Appearing in an Associated Press report “The strong franc is causing enormous damage to our economy,” said Peter Lauener of Switzerland’s trade union federation SGB. “The Swiss National Bank has no choice but to set an upper limit on the value of the franc if we don’t want to risk tens of thousands of jobs,” he said.

Employers have begun to lay off workers because of the increase value of the franc and the higher cost of their exports. They have imposed increased work hours and some have gone so far as to suggest paying salaries in euros. The unions have overwhelmingly rejected payment in euros.

United States

It seems that the progressives are adopting a new action plan against America. Senator Kerry, of yacht tax fame, is now pushing a plan that the TEA Party should be ignored by all media. The former Presidential candidate is proposing ending first amendment rights for those that support responsible government.