The House passed a bill yesterday which includes disturbing language indicating young people will be forced to undertake mandatory national service programs as fears about President Barack Obama’s promised “civilian national security force” intensify.
The Generations Invigorating Volunteerism and Education Act, known as the GIVE Act, was passed yesterday by a 321-105 margin and now goes to the Senate.
Under section 6104 of the bill, entitled “Duties,” in subsection B6, the legislation states that a commission will be set up to investigate, “Whether a workable, fair, and reasonable mandatory service requirement for all able young people could be developed, and how such a requirement could be implemented in a manner that would strengthen the social fabric of the Nation and overcome civic challenges by bringing together people from diverse economic, ethnic, and educational backgrounds.”
Section 120 of the bill also discusses the “Youth Engagement Zone Program” and states that “service learning” will be “a mandatory part of the curriculum in all of the secondary schools served by the local educational agency.”
“The legislation, slated to cost $6 billion over five years, would create 175,000 “new service opportunities” under AmeriCorps, bringing the number of participants in the national volunteer program to 250,000. It would also create additional “corps” to expand the reach of volunteerism into new sectors, including a Clean Energy Corps, Education Corps, Healthy Futures Corps and Veterans Service Corps, and it expands the National Civilian Community Corps to focus on additional areas like disaster relief and energy conservation,” reports Fox News.
“This is a clear sign that China, as the largest holder of US dollar financial assets, is concerned about the potential inflationary risk of the US Federal Reserve printing money,” said Qu Hongbin, chief China economist for HSBC.
To replace the current system, Mr Zhou suggested expanding the role of special drawing rights, which were introduced by the IMF in 1969 to support the Bretton Woods fixed exchange rate regime but became less relevant once that collapsed in the 1970s.
Today, the value of SDRs is based on a basket of four currencies – the US dollar, yen, euro and sterling – and they are used largely as a unit of account by the IMF and some other international organisations.
China’s proposal would expand the basket of currencies forming the basis of SDR valuation to all major economies and set up a settlement system between SDRs and other currencies so they could be used in international trade and financial transactions.
Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies.
Mr Zhou said the proposal would require “extraordinary political vision and courage” and acknowledged a debt to John Maynard Keynes, who made a similar suggestion in the 1940s.
The President said he'd been practicing, yet still only tallied a dismal 129 - "It was like the Special Olympics or something."
Obama quickly realized he'd screwed up. He called Shriver to say sorry, and the White House issued an apology.
Kelly Schultes, a New York Special Olympian who participates in several events, wasn't quick to forgive.
"He needs to understand that a comment like that - in this day and age - is really not appropriate," said Schultes, who has Asperger syndrome.
"This was a degrading remark about our world's most precious and unique people, coming from the most powerful position in the world," fumed former GOP veep pick and Alaska Gov. Sarah Palin, whose youngest son, Trig, has Down syndrome.
"These athletes overcome more challenges, discrimination and adversity than most of us ever will," she added.
Special Olympics boss Tim Shriver said Obama's off-color quip was a learning opportunity. "It's important to see that words hurt and words do matter," Shriver told ABC's "Good Morning America" Friday.