Search for...
Follow @ontheissuesorg
OnTheIssuesLogo

Jeff Bell on Budget & Economy

 


Market-led recovery instead of stimulus

Q: Do you support or oppose the statement, "Stimulus better than market-led recovery"?

A: Strongly oppose.

Source: Email interview for 2014 N.J. Senate race with OnTheIssues , Jul 1, 2014

Quantitative Easing causes inflation; erodes social contract

America was founded on the idea that hard work gets you ahead. But that social contract has withered away owing to dysfunctional government policy that favors the wealthy while necessitating huge budget deficits to provide a safety net large enough to support those left behind. Despite advances in technology that have improved the standard of living, it has become harder for working people to support a family and for young people to establish a career. The next NJ Senator must be a tireless advocate for solutions that restore the middle-class prosperity that was once a hallmark of this nation.

The most important hindrance to middle-class prosperity is the condition of the US dollar. Since 1994 it has lost over 1/3 of its value, and lost 10% in the last five years alone since the Federal Reserve began its "Quantitative Easing" program of creating new dollars. The effect of rising prices is felt everywhere: at the grocery store, the gas pump, in medical costs, and school tuition.

Source: 2014 Senate campaign website, Bell2014.com, "Issues" , May 2, 2014

Gold standard helps people & small business

Instead of serving the people, our money serves the federal government, whose trillion-dollar borrowing is the main cause of the Fed's money creation. To restore the money supply in the hands of the people, we need a dollar whose value is backed by gold. The gold standard is the proven way to encourage stable long-term prices and preserve limited government. This is why the Constitution in Article I, Section 10 directs Congress to "coin money" and "regulate the value thereof."

While Washington has gotten free financing from the Fed, everyone else has fallen behind.

This is the direct result of the Fed's policy of near zero interest rates, now in its 6th year. The suppression of interest rates below the market level has also broken down the traditional banking system, in which small businesses borrow from their local banks. The total value of all small bank business loans is approximately half of what it was when "zero interest rates" was adopted.

Source: 2014 Senate campaign website, Bell2014.com, "Issues" , May 2, 2014

Keynesianism is Marxism's mild-mannered nephew

Early in the 20th century, government ownership of the means of production and national economic planning were seen by Western elites as the cutting-edge path to modernization. This was due in part to the rise of Marxism.

The charisma of the Marxist left began to fade during the West's post-WWII economic recovery juxtaposed against the stagnation of Stalinism; but by the 1960s, Marxism's mild-mannered nephew, Keynesianism, had taken nearly complete control of elite economics, especially in the English-speaking world. Keynesianism tolerated private enterprise but argued that deficit spending and the creation of excess money were far more reliable drivers of large-scale ("macro") economic growth. These 2 stimulants had one thing in common: They are achievable only through the actions of governmental elites.

Policy elites in the 1960s "knew" that the solution to recession was a temporary dose of inflationary stimulus, and that the solution to inflation was to put a temporary brake on growth.

Source: The Case for Polarized Politics, by Jeff Bell, p. 52 , Mar 6, 2012

Other candidates on Budget & Economy: Jeff Bell on other issues:
NJ Gubernatorial:
Barbara Buono
Chris Christie
Cory Booker
NJ Senatorial:
Cory Booker
Frank Pallone
Jeff Chiesa
Murray Sabrin
Robert Menendez
Rush Holt
Steve Lonegan

NJ politicians
NJ Archives

Retiring in 2014 election:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
NE:Johanns(R)
SD:Johnson(D)
WV:Rockefeller(D)

Retired as of Jan. 2013:
AZ:Kyl(R)
CT:Lieberman(D)
HI:Akaka(D)
ME:Snowe(R)
ND:Conrad(D)
NE:Nelson(D)
NM:Bingaman(D)
TX:Hutchison(R)
VA:Webb(D)
WI:Kohl(D)
Senate Retirements 2014:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
MT:Walsh(D)
NE:Johanns(R)
OK:Coburn(R)
SD:Johnson(D)
WV:Rockefeller(D)

Senate races Nov. 2014:
AK: Begich(D) vs.Miller(R) vs.Treadwell(R) vs.Sullivan(R)
AL: Sessions(R,unopposed)
AR: Pryor(D) vs.Cotton(R)
CO: Udall(D) vs.Gardner(R) vs.Baumgardner(R) vs.Buck(R) vs.Hill(R) vs.Stephens(R)
DE: Coons(D) vs.Wade(R)
GA: Nunn(D) vs.Perdue(R) vs.Kingston(R) vs.Gingrey(R) vs.Handel(R) vs.Broun(R)
HI: Schatz(D) vs.Hanabusa(D) vs.Cavasso(R) vs.Pirkowski(R)
IA: Braley(D) vs.Ernst(R) vs.Whitaker(R) vs.Clovis(R)
ID: Risch(R) vs.Mitchell(D)
IL: Durbin(D) vs.Oberweis(R) vs.Hansen(L) vs.Truax(R)
KS: Roberts(R) vs.Tiahrt(R) vs.Wolf(R) vs.Taylor(D) vs.Orman(I)
KY: McConnell(R) vs.Bevin(R) vs.Grimes(D)
LA: Landrieu(D) vs.Cassidy(R) vs.Maness(R)
MA: Markey(D) vs.Herr(R) vs.Skarin(I) vs.Gomez(R)
ME: Collins(R) vs.D`Amboise(R) vs.Bellows(D)
MI: Land(R) vs.Peters(D) vs.Wiedenhoeft(R)
MN: Franken(D) vs.McFadden(R) vs.Abeler(R)
MS: Cochran(R) vs.Childers(D) vs.McDaniel(R)
MT: Walsh(D) vs.Daines(R) vs.Rankin(I) vs.Edmunds(R) vs.Bohlinger(D)
NC: Hagan(D) vs.Tillis(R) vs.Haugh(L)
NE: Sasse(R) vs.Domina(D) vs.Haugh(L) vs.Osborn(R)
NH: Shaheen(D) vs.Brown(R) vs.Smith(R) vs.Rubens(R) vs.Testerman(R) vs.Martin(R)
NJ: Booker(D) vs.Bell(R) vs.Sabrin(R)
NM: Udall(D) vs.Weh(R) vs.Clements(R)
OK-2: Lankford(R) vs.Johnson(D) vs.Shannon(R)
OK-6: Inhofe(R) vs.Silverstein(D)
OR: Merkley(D) vs.Wehby(R) vs.Conger(R)
RI: Reed(D) vs.Zaccaria(R)
SC-2: Scott(R) vs.Dickerson(D) vs.Wade(D)
SC-6: Graham(R) vs.Hutto(D) vs.Ravenel(I) vs.Stamper(D) vs.Mace(R) vs.Bright(R)
SD: Rounds(R) vs.Weiland(D) vs.Pressler(I)
TN: Alexander(R) vs.Ball(D) vs.Carr(R) vs.Adams(D)
TX: Cornyn(R) vs.Alameel(D) vs.Roland(L) vs.Stockman(R)
VA: Warner(D) vs.Gillespie(R) vs.Sarvis(L)
WV: Capito(R) vs.Tennant(D) vs.Lawhorn(I) vs.Raese(R) vs.McGeehan(R)
WY: Enzi(R) vs.Cheney(R) vs.Hardy(D)
Abortion
Budget/Economy
Civil Rights
Corporations
Crime
Drugs
Education
Energy/Oil
Environment
Families
Foreign Policy
Free Trade
Govt. Reform
Gun Control
Health Care
Homeland Security
Immigration
Jobs
Principles
Social Security
Tax Reform
Technology
War/Peace
Welfare

Other Senators
Senate Votes (analysis)
Bill Sponsorships
Affiliations
Policy Reports
Group Ratings
 

Page last updated: Aug 14, 2014