Bob Kingsbury's Blog

by Bob Kingsbury

The first step in replacing the Federal Reserve System is for Congress to require the Federal Reserve to buy back all of its paper dollars with silver dollars because Paper alone results in endless inflation. However, inflation eventually runs out of values. When that happens the only viable solution is to return to “a hard money” standard.
To start with, one must keep in mind that money is simply a certificate for hours of work.

The only question, and it is a difficult question, is how to make the change from paper back to gold and silver coins.

History
Our current, Federal Reserve System of paper money, is the third time our Nation has gone the paper money route. The first time our Nation, as a Nation, went the paper money route was the “Continentals” of our War for Independence. The Second time were the “Greenbacks “ that were issued during our Civil War. The third time is our current experience with the Federal Reserve notes.

Each of these times is about 100 years apart, or 4 or 5 generations apart. It seems that it takes three generations to forget the problems of paper money, and one or two more generations to again succumb to the “Sirene call” of a “free” paper money system.
Despite all the derivative ways in which money can be handled, such as in various investments, eventually the only use of money is to buy hours of work from someone else.

All un-backed paper money systems (such as the current Federal Reserve System) ultimately fail and eventually have to be replaced by “hard money”, silver and gold. Because with paper money, any time Politicians from time to time “want” money; the temptation to “run the printing presses” overwhelms the politicians. What they leave out is that an additional run of the printing presses is a form of stealing, stealing hours of labor from the workers who worked to get those hours of labor to meet their own requirements for funds to pay the rent, to put food on the table, and clothes on their backs.

Eventually the workers become aware that they are not getting full value for their hours of labor and when they do, they might use their vote to elect a different set of office holders to office.

Per Ludwig von Mises, “Human Action” , The main advantage to a “hard money” system is that it keeps the politicians from cheating the workers out of their hours of labor. Per Ludwig von Mises, paper money also tends to increase corruption. Hard money prevents the politicians from “living off the sweat of someone else’s brow”. “Hard money” helps prevent politicians from stealing someone else’s hours of labor.

Since silver coins (and the supporting gold coins) are extremely heavy, certificates for silver have been known at least since Biblical times.

Not only have silver certificates been known for at least a couple of thousand years,
silver certificates, paper backed by silver, with silver coins available to be exchanged for the paper on request; and “gold certificates”, backed by gold coins have worked well.

To get from where we are, back to a “sound money system” , there are only two questions; ‘When’ to make the changeover and “How” to make the changeover.

WHEN ?
When ? Whenever those who are workers, realize that they can change who they are voting for and the workers decide that they would like to make the changeover.

HOW ?
Historically, in the United States, the changeover has been made by buying back the paper dollars with silver dollars. At the time of our War for Independence, 1776 to 1789, the, “not worth a Continental”, dollars were issued as a debt against the Continental Congress.

Along with the adoption of the Constitution of the United States of America, the paper “Continental Dollars” were purchased back from the citizens of the United States. (US Constitution, Article VI, “All Debts contracted and Engagements entered into, before the Adoption of this Constitution, shall be as valid against the United States under this Constitution as under the Confederation.”) and so the “Continental” dollars were bought back at the rate of a silver dollar for a paper dollar., and the ensuing financial well being of the Nation’s workers increased at the phenomenal rate of about 20% per year per year.

At the time of the Civil War, the “Radical Republicans” in Congress again issued un-backed paper dollars which were printed with green ink on one side, so they were called “Greenbacks”. Along about 1876 Congress passed an Act to buy back the Greenbacks. The “Greenbacks” were purchased back from the people during the years 1876 to 1879. Beginning in about the year 1880 with a money system entirely backed by silver, reportedly, the financial well being of the Nation’s people again increased at the still phenomenal rate of about 20% per year per year.

The “Fed” was formed in 1913. Initially the “Fed” did not issue paper money. All the dollar bills and five dollar bills from 1913 onward into the 1940′s and later were “US Treasury” “silver certificates” , “payable in silver to the bearer”, or in the larger denominations, up until 1933, gold certificates payable in gold to the bearer, at any bank. The Treasury certificates were eventually withdrawn, and were entirely replaced by Federal Reserve Notes.

As everyone knows, with out any backing, the value of our paper money has fallen, and in the opinion of some people, the value of our paper money has fallen precipitously, precipitously meaning something in the range of a thousand to one., so that the money we had during WW II had about a thousand times more value than the paper money we have today.

Ludwig von Mises in his book, “The Theory of Money and Credit” published in 1971 by the Foundation for Economic Education, Part Four, Chapter III “The Return to Sound Money” pages 435 TO 460, lists perhaps a dozen or more things needed for a return to sound money. Included in those things are the following:

1. The first step is an unconditional and absolute prohibition on issuing any additional, un-backed, paper money.
2. The Federal Reserve to create a “conversion agency” using “specie” (gold and silver coins) to buy back existing Fed paper money
3. During the buy-back period, the “old” Federal Reserve notes can remain in circulation, just that an equal value of Federal Reserve notes are to be removed from circulation and to be destroyed to balance out, one for one, all newly issued gold and silver coins or certificates.
4. Reestablish a free market in gold.
5. Imperative that the individuals in policy making positions associated with the Fed should be released from their positions, and not hired back into policy positions.

Just Abandoning the Paper Money Devastates The People

However, as history shows us, just abandoning the currently circulating paper money devastates the financial well-being of the people. For example:

At the time of the French Revolution, The French revolutionists has seized all of the many properties of the Catholic Church in France.

In January 1790, the value of the first issue of 1,860 million Assignats were essentially equal in value to the seized Church properties. Then January to May 1792, without any appreciable number of added properties, an additional 2,200 million more Assignats were issued. In June to December 1792 another 2,750 million Assignats were issued. In January to August 1793; 4,950 more Assignats were issued. In September 1793 to July 1794 another 8,450 million Assignats were issued, for total of about 20,210 livres in Assignats. At about that time it became obvious that the paper money Assignats were not being accepted and that a return to gold and silver must be arranged.

In France the French Revolutionary Government, in effect, simply discarded the Assignats. Shortly after the Assignants were discarded Napoleon came to power. On one of my trips to Europe, I bought one of the famous “Gold Napoleons” just to remind me from time to time of the paper money debacle that occurred in France. When the Assignants were cancelled, the financial well -being of the French people was devastated , and according to some reports, it took about the next two generations for the French people to recover from the financial losses of simply discarding all the paper Assignats then in circulation.

(Reference: The Assignats” by S.E. Harris, published by the Harvard University Press 1930)
Eliminating the Federal Reserve Notes

Congress passed a series of laws that established the Federal reserve system, therefore Congress can pass a law, or laws that requires the Fed to buy back their paper with gold and silver coins, (or fully backed certificates for gold and silver). During WW II the United States funded foreign governments with the “Lend Lease” programs. It is important to remember the name applied to those transfers of money, “Lend Lease”, because the US Constitution prohibits the Federal Government from merely “giving” funds to other governments.

The Marshall PLAN began in April 1948. It was followed by a series of similar “giveaways”. For example, in the mid 1960′s BF Goodrich supplied the “pickle line” tanks for two (in the Philippines and in Turkey) of the five steel mills that were being “given” to other Nations. (At that time I was the Marketing Supervisor for rubber lined tanks at BF Goodrich.) For another example, in 1998 “we” “gave” a $1,800,000 paper-making complex to Indochina (which during the next several years, “killed” almost all of the paper making jobs in New Hampshire). Also at about that same time we gave a 7 billion dollar steel making plant to Shanghai China. The estimates are, that in the years since 1948 we have given 42,000 manufacturing plants to other nations. Using an estimated cost of a billion dollars per gift, that comes out to be approximately 42 trillion US Tax dollars in manufacturing plants that we have given other nations in the past 63 years.

One of the uses of the Federal Reserve was for the Fed, directly or indirectly, to print the money needed to pay for the “Marshall Plan”, and all the many succeeding money giveaways, since then. As the impeachment (for bribery) of President Clinton showed, the key people in the US were in turn rewarded with “contributions” of a giveback of some of the giveaway money as donations to their re-election campaigns. The then Speaker of the House, Newt Gingrich, delayed the vote for a full year during which the bribery charges were switched to a bedroom farce, and the Senate did not vote to convict the President.

We have very little to show for those giveaways other than approximately 42 trillion dollars of “IOU’s” . All of the money “given- away” has to have been in the form of a loan, because the Congress has no authority to merely “give” money to another nation.

(Remember that all money given other governments in WW II were given in the form of “Lend – Lease”.)

All of those IOU’s are held by the Federal Reserve Bank.

If the Federal Reserve Bank were to apply the approximately 42 trillion dollars in “IOU’s” held by them, the Fed would have the resources to buy back all of their paper dollars at the rate of a silver dollar for a paper dollar, and in addition, pay off essentially all of the estimated 16 trillion dollar National debt. The news media tells us that the interest on the Federal Debt is the single largest item in the budget, larger than even our Defense budget.

Bill collecting is not “nice” work, and the Fed will not “like” to do that kind of work. In addition the strategy of that kind of bill collecting could be important, so “someone” needs to “sort things out” as to the way for us to collect on those “IOU’s”.
However collecting on loans, (being bill collectors), has always been part of the banking business. Therefore collecting for the IOU’s they hold would be a normal thing for the Federal Reserve Bank to do.

As the experience in France with Assignats shows, merely canceling 42 trillion dollars in “IOU’s” that are now held by the Federal Reserve System, would devastate the American economy for many decades into the future.

A Monetary System to replace the Federal Reserve System

The first step in replacing the Federal Reserve System is for Congress to require the Federal Reserve to buy back all of its paper dollars with silver dollars because Paper alone results in endless inflation. However, inflation eventually runs out of values. When that happens the only viable solution is to return to “a hard money” standard.

To start with, one must keep in mind that money is simply a certificate for hours of work.

The only question, and it is a difficult question, is how to make the change from paper back to gold and silver coins.

History

Our current, Federal Reserve System of paper money, is the third time our Nation has gone the paper money route. The first time our Nation, as a Nation, went the paper money route was the “Continentals” of our War for Independence. The Second time were the “Greenbacks “ that were issued during our Civil War. The third time is our current experience with the Federal Reserve notes.

Each of these times is about 100 years apart, or 4 or 5 generations apart. It seems that it takes three generations to forget the problems of paper money, and one or two more generations to again succumb to the “Sirene call” of a “free” paper money system.

Despite all the derivative ways in which money can be handled, such as in various investments, eventually the only use of money is to buy hours of work from someone else.

All un-backed paper money systems (such as the current Federal Reserve System) ultimately fail and eventually have to be replaced by “hard money”, silver and gold. Because with paper money, any time Politicians from time to time “want” money; the temptation to “run the printing presses” overwhelms the politicians. What they leave out is that an additional run of the printing presses is a form of stealing, stealing hours of labor from the workers who worked to get those hours of labor to meet their own requirements for funds to pay the rent, to put food on the table, and clothes on their backs.

Eventually the workers become aware that they are not getting full value for their hours of labor and when they do, they might use their vote to elect a different set of office holders to office.

Per Ludwig von Mises, “Human Action” , The main advantage to a “hard money” system is that it keeps the politicians from cheating the workers out of their hours of labor. Per Ludwig von Mises, paper money also tends to increase corruption. Hard money prevents the politicians from “living off the sweat of someone else’s brow”. “Hard money” helps prevent politicians from stealing someone else’s hours of labor.

Since silver coins (and the supporting gold coins) are extremely heavy, certificates for silver have been known at least since Biblical times.

Not only have silver certificates been known for at least a couple of thousand years,
silver certificates, paper backed by silver, with silver coins available to be exchanged for the paper on request; and “gold certificates”, backed by gold coins have worked well.

To get from where we are, back to a “sound money system” , there are only two questions; ‘When’ to make the changeover and “How” to make the changeover.

WHEN ?
When ? Whenever those who are workers, realize that they can change who they are voting for and the workers decide that they would like to make the changeover.

HOW ?
Historically, in the United States, the changeover has been made by buying back the paper dollars with silver dollars. At the time of our War for Independence, 1776 to 1789, the, “not worth a Continental”, dollars were issued as a debt against the Continental Congress.

Along with the adoption of the Constitution of the United States of America, the paper “Continental Dollars” were purchased back from the citizens of the United States. (US Constitution, Article VI, “All Debts contracted and Engagements entered into, before the Adoption of this Constitution, shall be as valid against the United States under this Constitution as under the Confederation.”) and so the “Continental” dollars were bought back at the rate of a silver dollar for a paper dollar., and the ensuing financial well being of the Nation’s workers increased at the phenomenal rate of about 20% per year per year.

At the time of the Civil War, the “Radical Republicans” in Congress again issued un-backed paper dollars which were printed with green ink on one side, so they were called “Greenbacks”. Along about 1876 Congress passed an Act to buy back the Greenbacks. The “Greenbacks” were purchased back from the people during the years 1876 to 1879. Beginning in about the year 1880 with a money system entirely backed by silver, reportedly, the financial well being of the Nation’s people again increased at the still phenomenal rate of about 20% per year per year.

The “Fed” was formed in 1913. Initially the “Fed” did not issue paper money. All the dollar bills and five dollar bills from 1913 onward into the 1940′s and later were “US Treasury” “silver certificates” , “payable in silver to the bearer”, or in the larger denominations, up until 1933, gold certificates payable in gold to the bearer, at any bank. The Treasury certificates were eventually withdrawn, and were entirely replaced by Federal Reserve Notes.

As everyone knows, with out any backing, the value of our paper money has fallen, and in the opinion of some people, the value of our paper money has fallen precipitously, precipitously meaning something in the range of a thousand to one., so that the money we had during WW II had about a thousand times more value than the paper money we have today.

Ludwig von Mises in his book, “The Theory of Money and Credit” published in 1971 by the Foundation for Economic Education, Part Four, Chapter III “The Return to Sound Money” pages 435 TO 460, lists perhaps a dozen or more things needed for a return to sound money. Included in those things are the following:

1. The first step is an unconditional and absolute prohibition on issuing any additional, un-backed, paper money.
2. The Federal Reserve to create a “conversion agency” using “specie” (gold and silver coins) to buy back existing Fed paper money
3. During the buy-back period, the “old” Federal Reserve notes can remain in circulation, just that an equal value of Federal Reserve notes are to be removed from circulation and to be destroyed to balance out, one for one, all newly issued gold and silver coins or certificates.
4. Reestablish a free market in gold.
5. Imperative that the individuals in policy making positions associated with the Fed should be released from their positions, and not hired back into policy positions.

Just Abandoning the Paper Money Devastates The People

However, as history shows us, just abandoning the currently circulating paper money devastates the financial well-being of the people. For example:

At the time of the French Revolution, The French revolutionists has seized all of the many properties of the Catholic Church in France.

In January 1790, the value of the first issue of 1,860 million Assignats were essentially equal in value to the seized Church properties. Then January to May 1792, without any appreciable number of added properties, an additional 2,200 million more Assignats were issued. In June to December 1792 another 2,750 million Assignats were issued. In January to August 1793; 4,950 more Assignats were issued. In September 1793 to July 1794 another 8,450 million Assignats were issued, for total of about 20,210 livres in Assignats. At about that time it became obvious that the paper money Assignats were not being accepted and that a return to gold and silver must be arranged.

In France the French Revolutionary Government, in effect, simply discarded the Assignats. Shortly after the Assignats were discarded Napoleon came to power. On one of my trips to Europe, I bought one of the famous “Gold Napoleons” just to remind me from time to time of the paper money debacle that occurred in France. When the Assignants were cancelled, the financial well -being of the French people was devastated , and according to some reports, it took about the next two generations for the French people to recover from the financial losses of simply discarding all the paper Assignats then in circulation.

(Reference: “The Assignats” by S.E. Harris, published by the Harvard University Press 1930)

Eliminating the Federal Reserve Notes

Congress passed a series of laws that established the Federal reserve system, therefore Congress can pass a law, or laws that requires the Fed to buy back their paper with gold and silver coins, (or fully backed certificates for gold and silver). During WW II the United States funded foreign governments with the “Lend Lease” programs. It is important to remember the name applied to those transfers of money, “Lend Lease”, because the US Constitution prohibits the Federal Government from merely “giving” funds to other governments.

The Marshall PLAN began in April 1948. It was followed by a series of similar “giveaways”. For example, in the mid 1960′s BF Goodrich supplied the “pickle line” tanks for two (in the Philippines and in Turkey) of the five steel mills that were being “given” to other Nations. (At that time I was the Marketing Supervisor for rubber lined tanks at BF Goodrich.) For another example, in 1998 “we” “gave” a $1,800,000 paper-making complex to Indochina (which during the next several years, “killed” almost all of the paper making jobs in New Hampshire). Also at about that same time we gave a 7 billion dollar steel making plant to Shanghai China. The estimates are, that in the years since 1948 we have given 42,000 manufacturing plants to other nations. Using an estimated cost of a billion dollars per gift, that comes out to be approximately 42 trillion US Tax dollars in manufacturing plants that we have given other nations in the past 63 years.
One of the uses of the Federal Reserve was for the Fed, directly or indirectly, to print the money needed to pay for the “Marshall Plan”, and all the many succeeding money giveaways, since then. As the impeachment (for bribery) of President Clinton showed, the key people in the US were in turn rewarded with “contributions” of a giveback of some of the giveaway money as donations to their re-election campaigns. The then Speaker of the House, Newt Gingrich, delayed the vote for a full year during which the bribery charges were switched to a bedroom farce, and the Senate did not vote to convict the President.

We have very little to show for those giveaways other than approximately 42 trillion dollars of “IOU’s” . All of the money “given- away” has to have been in the form of a loan, because the Congress has no authority to merely “give” money to another nation.

(Remember that all money given other governments in WW II were given in the form of “Lend – Lease”.)

All of those IOU’s are held by the Federal Reserve Bank.

If the Federal Reserve Bank were to apply the approximately 42 trillion dollars in “IOU’s” held by them, the Fed would have the resources to buy back all of their paper dollars at the rate of a silver dollar for a paper dollar, and in addition, pay off essentially all of the estimated 16 trillion dollar National debt. The news media tells us that the interest on the Federal Debt is the single largest item in the budget, larger than even our Defense budget.

Bill collecting is not “nice” work, and the Fed will not “like” to do that kind of work. In addition the strategy of that kind of bill collecting could be important, so “someone” needs to “sort things out” as to the way for us to collect on those “IOU’s”.
However collecting on loans, (being bill collectors), has always been part of the banking business. Therefore collecting for the IOU’s they hold would be a normal thing for the Federal Reserve Bank to do.

As the experience in France with Assignats shows, merely canceling 42 trillion dollars in “IOU’s” that are now held by the Federal Reserve System, would devastate the American economy for many decades into the future.

Robert Kingsbury
PO Box 1099
Laconia, NH 03247

January 29, 2013
Laconia Daily Sun
Letters to the Editor

The Job of the County Commissioners is to Do as They are Told

Dear Sir:
Recent letters to the Editor show a substantial amount of misinformation. For example, one writer (Friday Jan 25 Andrew Sanborn) is unaware that it is necessary that the powers of government are split three ways, Legislative, Executive and Judicial. The split in governmental powers is necessary because there are examples of the adage, that power corrupts. Therefore in American government, not only are governmental powers split, it is vitally important the splits be maintained.

Secondly the fears that Andrew Sanborn lists about the legislative trampling on the executive do not exist.

Under the three way split of government, the job of the Executive at all three levels of government is to do as they are told, and in every case it is the Legislative Branch that tells the Executive Branch “what to do:”. Even the job of our Chief Executive, the President of the United States, his job is to do as he is told; told by the Legislative Branch, the Congress.

Another writer, Dorothy Piquado (also in the Friday Jan 25 Daily Sun) is unaware that the County Convention is on immediate call by the County Commissioners (RSA 24:14-a) to make supplemental changes in the budget” at the request of the County Commissioners, in a public meeting to which the public has been invited.

At the County level; the County Convention is required by law to pass a line item budget, without their line item OK, no money can be spent at the County level. Should changes become necessary the County Convention is immediately and easily available to act on the changes such as might be requested by the County Commissioners; but every meeting of the County Convention must be advertised some days in advance of the time it is held, and the public is kept informed of all the actions that the County Delegation did take at any of their meetings.

However, while every meeting of the County Convention is required by law to be public, not so-with the County Commissioners.
I do not recall ever having seen any newspaper ads that state the date or the agenda , or that the public is invited to attend, the next meeting of the County Commissioners.

Secrecy therefore seems to be the reason; for the County Commissioners to demand to be able to transfer money from one account to another without involving the County Convention.

Secrecy; secrecy in government, secrecy in government in and of itself, secrecy is wrong.

In my opinion, the current crop of County Commissioners demand, to have the personal power to be able to transfer County money, in secret, from one part of the approved County Budget, to something not approved, and without holding a fully advertised public hearing, (as it would be, if done through the easily accessible, and readily available County Convention), secrecy in handling County money is wrong.

Sincerely,
Robert Kingsbury
Laconia

July 23, 2011
Letters to the Editor
The Laconia Daily Sun

Bribes put American manufacturing plants in other countries

Dear Sir:
I want to tell you why I supported “Right to Work”, and why, in my opinion, every American should also support Right to Work.

Back in the 1960’s when I was the Marketing Supervisor for rubber lined tanks at B. F. Goodrich, I handled the sales of rubber lined “pickling” tanks for two of the five steel mills being given away to countries overseas. One inevitable result of our using American Tax dollars to give those steel mills to five different, overseas nations would be to put American steel worker out of work. Yet, put themselves out of work they did. At the time I could not figure out why the steel workers would support sending steel mills, at our expense, to other nations when one unavoidable result of using American tax dollars to build steel mills for other countries would be to put American steel workers out of work. Thousands of other kinds of manufacturing plants were provided for other nations, which is turn put many millions of other American workers out of work. Since those plants were then “owned” by the governments of those nations, the only thing such give-a-ways promoted, was socialism.

In the 1970′s I was the “S-4”, or Supply Officer for an Army Reserve Artillery Battalion. My being the Supply Officer means that I knew exactly how short we were of supplies. My battalion was supposed to have six 155 mm howitzers, and we had only one obsolescent 105 mm howitzer. During the 1960′s and 70′s Congress awarded funds to fully equip the Army Reserve five different times. None of those funds ever ended up in the Army Reserve. Each of those five times, all of the funds were sent to other countries. A good deal of those American tax dollars were laundered through the World Bank, the various UN trade agreements, and other activities and agencies of the United Nations. The sending of American Tax dollars to other nations is a long standing problem. A great deal of that kind of “laundering” of American tax dollars to other nations was attributed to Members of Congress who were elected to Congress by Union support and backing.

At a later time, the “deals” that President Clinton made, especially with China, were so obvious and so flagrant, that the Congress Impeached President Clinton for accepting bribes. So the bribery information is there for anyone who wishes to review it. All one needs to do is to look through the Congressional Record for the year 1998 to see all the details that one needs to see.

Bribes, (not WalMart) put American Steel Mills in China. Bribes, (not WalMart) put thousands of other American manufacturing plants in nations overseas. According to one estimate, over the past 50 years, American tax dollars built about 42,000 Manufacturing plants overseas, at a cost of 13 trillion American tax dollars and the loss of 29 million American manufacturing jobs. It is all “in the record”, all the details were published in one place or another. The job loss is still continuing, for example, In the past ten years manufacturing jobs in New Hampshire dropped from about 103,000 jobs in manufacturing down to about 65,000 jobs, and that loss of jobs killed about half of the tax base of the State of NH

The US Congress did impeach President Clinton, but by the time the bribery charges got to the Senate, President Clinton’s backers had managed to get the charges changed from an impeachable charge of bribery over to it being a bedroom farce, and the Senate did not convict.

Yes, I support “Right to Work” and so should every American.

Very truly yours,
Bob Kingsbury

RAISING TAXES BY 20% IS NOT A SOLUTION AVAILABLE TO LEGISLATURE

After the November elections, those of us who are first time Representatives learned that we are the largest group of first time Republican Representatives, elected ever, not only in New Hampshire, but anywhere in the United States.

November has been a relatively intense month of introductions, of orientations, and of organization. The Republicans elected a new Speaker of the House then, the Republicans grouped together and along with the Democrats voted unanimously to organize the House. Those votes were a major move towards reconciliation between the two parties all members of which voted unanimously to work together under the new House Leadership.

The new Leadership has 400 seats to assign, 400 parking places to assign, and 400 committee assignments to make. The committee assignments are particularly challenging because some committees are more in demand than others. All of those things are to be done before Christmas, so the new Leadership of the House has a full itinerary of things to decide on in a short period of time.

Among other things, the new Representatives have a 224 page “Manual of the General Court” to read and digest before the regular sessions start on Wednesday Jan 5th.

One of the most pressing problems for the new Legislature is to resolve the approximately 20 percent shortage of money for the $5,500,000,000 2011 budget. The 2010 session of the legislature raised taxes and fees in about 100 different ways to cover the spending in the 2010 budget. Raising taxes by 20% is not a solution that is available to the new, 2011 Legislature.

“Stay tuned” for the next installment.

Sincerely
Bob Kingsbury
Representative for Laconia