The Land That I Love
Thomas Jefferson said "All tyranny needs to gain a foothold is for people of good conscience to remain silent." I will remain silent no longer.
This is America, a country- no, my country, our country- one that was built by the hard work and dedication of generations of men and women who all wanted the same thing, their freedom. Our Founding Fathers knew that American citizens would need protection from the governments that would form as our country grew, and in order to protect us, several documents were drafted and adopted as the basis of our government.
These documents served to limit the government, not the people, a fact that sadly, we as a nation seem to no longer understand.
We, as members of mankind, have certain unalienable rights. The Declaration of Independence states that in order “to secure these rights, governments are instituted among Men, deriving their just powers from the consent of the governed.” That’s us, the ‘governed.’ The people.
We have not been paying attention. We have allowed our government to overstep their bounds, infringing upon our rights. It is time to stand up. It is time to question authority, something we should never stop doing, not even for a second. From where does our government derive their outrageous amount of power? From me. From you. They derive their power from each one of us that is guilty of the terrible crimes of ignorance and apathy.
I will borrow a line from a great American hero, my hero, and a late friend of mine, Karl Hess. “The only- repeat, only- function of law or government is to provide the sort of self-defense against violence that an individual, if he were powerful enough, would provide for himself.”
Our government has ceased to perform this, their only function, and has graduated to a much more powerful and overbearing presence, a presence with a legal monopoly on force, a presence that is nearly everywhere, all of the time. We now have a government that controls what we eat, smoke, and drink; what we see on television and the internet; what we do with our bodies; what goods we are able to purchase; to what degree we are able to arm and defend our own homes and families; and what we engage in as consenting adults in our own bedrooms.
The Declaration provides us with an answer. “… whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
“But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”
We the people have been abused. Our individual rights and civil liberties have been stolen from us under the guise of ‘National Security’ by legislation such as the PATRIOT Act. Our government can now conduct searches of our individual persons and property without a warrant, something explicitly prohibited by another important document, the Constitution. The Supreme Law of the Land.
We have allowed this great document that helped to give birth to our beautiful country go from serving as the blueprint of our nation to instead existing mainly as a tourist attraction, something to look at but not read. Something we know of, but don’t understand.
As citizens of this Republic, it is our duty to make sure that we do know, that we do understand. We should never forget that our elected officials work for us. They should represent our best interests, whatever they may be. Whether you sit on the left side of the aisle or the right side, regardless of your individual political affiliation, it is your responsibility to hold your elected officials accountable for their actions. If they are not able to do these things, then the time has come to throw off the bonds of our established government, and begin the process of instituting a new one, one that is not only likely to effect our Safety and Happiness, but that guarantees it.
I believe we have reached those crossroads, and I will not wait silently for tyranny to gain a foothold. I will fight this tyranny with the most powerful tool I have: my mind. I will educate myself. I will read these documents, I will know my rights as a citizen of this country, and I will exercise them. Every day. I will not allow anyone to take them away. I will read about current events. I will call my elected officials to let them know how I feel about all of these things, and I will show up and vote each and every Election Day. I will take personal responsibility for my own actions, and understand that the future of my beloved United States rests in part upon my shoulders. It rests on our shoulders.
We are responsible. We have the power. We determine our own future, and the future of our great country. We the People.
Sunday, May 29, 2011
Tuesday, May 24, 2011
First Amendment, we don't need no stinking First Amendment
White House Adds New Position to Deal with Unfavorable Online Media
By Chris O'Shea on May 23, 2011 2:32 PM
The White House has named Jesse Lee to a new position within its communications department titled Director of Progressive Media & Online Response. According to The Huffington Post, Lee will essentially be responsible for building up Obama’s online presence as he prepares for his reelection bid, and squashing any negative stories:
The post is a new one for this White House. Rapid response has usually been outsourced to the Democratic National Committee (DNC), if not done on an ad-hoc basis by administration officials. And it signals that the White House will be adopting a more aggressive defense of the president and his policies as his re-election campaign gears up.
If you’re going to post something online about Obama that isn’t true, Lee is going to be the one to handle you. Considering that Lee’s first tweet about his new position included a picture of The Terminator, we suggest you watch what you say OR BE DESTROYED.
Okay that was a little dramatic, but you get the idea.
By Chris O'Shea on May 23, 2011 2:32 PM
The White House has named Jesse Lee to a new position within its communications department titled Director of Progressive Media & Online Response. According to The Huffington Post, Lee will essentially be responsible for building up Obama’s online presence as he prepares for his reelection bid, and squashing any negative stories:
The post is a new one for this White House. Rapid response has usually been outsourced to the Democratic National Committee (DNC), if not done on an ad-hoc basis by administration officials. And it signals that the White House will be adopting a more aggressive defense of the president and his policies as his re-election campaign gears up.
If you’re going to post something online about Obama that isn’t true, Lee is going to be the one to handle you. Considering that Lee’s first tweet about his new position included a picture of The Terminator, we suggest you watch what you say OR BE DESTROYED.
Okay that was a little dramatic, but you get the idea.
Thursday, May 19, 2011
Are you Sheeple? Take the quiz and see.
Have you herd about the Sheeple Quiz? Although most NaturalNews readers will easily beat it, it's a fun quiz to find out how smart (or gullible) your friends really are. So let 'em take the Sheeple Quiz! And then you'll know whether they're independent thinkers or just zombie-minded sheeple like the rest of the flock.
Here's the quiz. Choose "A" or "B" as the answer for each question, then check your score below.
The Sheeple Quiz
#1) The purpose of the mainstream media is to:
A) Keep you informed.
B) Feed you misinformation while keeping you distracted from the real issues our world is facing.
#2) Social Security is:
A) A financial safety net that makes sure people have a retirement income.
B) A government-run Ponzi scheme that requires more and more people to keep paying in just to stay afloat and will ultimately collapse into total bankruptcy.
#3) The fluoride dripped into municipal water supplies is:
A) A naturally-occurring mineral.
B) An industrial chemical waste byproduct.
#4) When you donate money to find the cure for cancer, that money goes:
A) To fund research programs that assess actual cancer cures for the purpose of freely sharing them with the public.
B) To fund mammogram campaigns that actually irradiate women's breasts, causing the very cancers that earn huge profits for the cancer treatment industry.
#5) The national debt is:
A) Under control and will be paid off in a few years.
B) Out of control and will spiral into a runaway debt collapse.
#6) GMOs will:
A) Feed the world and prevent starvation.
B) Threaten the future of life on our planet through genetic contamination and widespread crop failures.
#7) The FDA protects:
A) The people from dangerous medicines.
B) The financial interests of the drug companies.
#8) The EPA's real agenda is to:
A) Protect the environment.
B) Protect the financial interests of the chemical companies whose toxic products destroy the environment.
#9) The Federal Reserve functions to:
A) Stabilize the economy and keep America strong.
B) Loot the economy and control America's economy for the interests of the few.
#10) The purpose of TSA checkpoints at airports is to:
A) Keep air passengers safe and secure.
B) Indoctrinate Americans into surrendering to police state invasions of their privacy.
#11) The practical function of the U.S. Supreme Court is to:
A) Protect the constitutional rights of the citizens.
B) Legitimize federal tyranny over the People by ignoring the Constitution and its Bill of Rights.
#12) Vaccines are based on:
A) Gold standard science that conclusively proves their safety and effectiveness.
B) Quackery and fraud combined with a persistent medical mythology that utterly lacks a factual basis.
#13) Herbs and superfoods:
A) Are medically useless and cannot treat, prevent or cure any disease.
B) Contain powerful plant-based medicines that can help reverse and prevent disease.
#14) In Libya, Afghanistan and Iraq, America:
A) Led a humanitarian effort to save innocent people from tyranny.
B) Waged an illegal imperialist war to occupy foreign nations and control their oil.
#15) The U.S. Bill of Rights:
A) Grants you rights and freedoms.
B) Merely acknowledges the rights and freedoms you already possess.
Score your Sheeple Quiz
To score your Sheeple Quiz, simply count the number of times you answered "A" to the questions above.
If you answered "A" 10 times or more...
You are a total news-watching, gullible fairytale swallowing Sheeple! Be sure to keep taking those medications and watching more network news. Don't bother thinking for yourself because you seem to be incapable of accomplishing that.
If you answered "A" fewer than 10 times...
You are sadly Sheeple-minded but there is hope for your rescue. Learn more about the world around you and train yourself to think critically so you can depart from the herd mentality.
If you answered "A" fewer than 5 times...
You are an unusually intelligent free-minded thinker who questions the world around you and doesn't buy into the usual propaganda. You still got suckered on a few items, so there's more yet to learn. But you're on the right track!
If you answered "A" exactly zero times...
You are the complete opposite of a Sheeple. You're independent minded, well informed and probably a regular reader of NaturalNews.com. Stay on track and question events in the world around you. Eat more superfoods to maintain your healthy immune system and cognitive function. Avoid the toxic chemicals in foods, medicines and lawn care products. Keep reading the alternative press and voice your intelligent views to others willing to listen. (But don't waste your time on those who aren't.)
Thank you for taking the Sheeple quiz here on NaturalNews.
Wednesday, May 18, 2011
Headlines that make your head spin
Take a moment and conduct a mini thought experiment. Imagine that you're from the future many hundreds of years from now, researching what life was like in the early 21st century. You pull up an archive of newspaper headlines from the year 2011 and read the following:
"US Congress To Vote On Declaration Of World War 3 -- An Endless War With No Borders, No Clear Enemies"
"Blackwater hired by the crown prince of Abu Dhabi to put together a secret force of foreign troops"
"10 killed in US drone attacks in northern Pakistan"
"US Officials Warn Terrorism Threat Remains Post-bin Laden"
"TSA Pat Down of Suspicious Baby Is No Big Deal"
"Treasury taps federal pensions as Uncle Sam hits debt ceiling"
"Fed chief Ben Bernanke says he's not worried about inflation"
"Global Food Prices Hit New All Time High After 8 Consecutive Months Of Gains"
"Over-50s suffer a lifestyle crash: Millions less comfortable than a year ago"
"UK And US Data Shows Stagflation Threat Deepening"
"Greek riot police, protesters clash over austerity "
"IMF: Greece needs more austerity measures"
"IMF Chief no stranger to sexual assault allegations"
"Portugal on brink of bankruptcy"
"Contagion fears high as Italy drawn into crisis"
"Italian PM Berlusconi Faces Prostitution Trial in Italy"
To an observer who is not part of our time, it must all look like a really bad joke, like it just couldn't possibly be true. In the same way, we look back upon history and wonder with skepticism and incredulity how our long-lost ancestors have possibly allowed the Inquisition, the Dark Ages, genocide and slavery to occur.
We fancy ourselves so advanced and enlightened... but my guess is that history will view us in the same way that we see those unfortunate brutes of medieval times: misguided, misled, and totally self-deluded.
We might not be burning each other at the stake anymore, or waging war for king and conquest, but the metaphoric comparisons run truly deep. Moreover, our story today is a similar one: there is a very small group of people in power whose decisions affect the lives of billions of people. Those of us not in the elite ruling class allow it to happen.
Their choices drive up food prices, increase war and destruction, bankrupt entire economies, reduce standards of living, degrade social stability, and force everyday people into conditions that look more and more like a police state.
Simultaneously, this elite group uses its position to shower itself with privileges and benefits at everyone else's expense: hard-core sex parties, handing out free money to their friends, not paying their taxes, hiring private armies to protect them from their own people, etc.
It's positively disgusting... and I have to imagine that historians of the future will scratch their heads and wonder how we allowed ourselves to be duped into such a system.
Our leaders tell us that these troubles will pass... to sit down, shut up, be patient, and put our faith and confidence in their abilities to right the ship once again. Sounds great... but there's just one problem. Nobody's buying it anymore.
We're in the beginning of a period where people are finally starting to wake up and smell the fraud... and even though the establishment is furiously rearranging the deck chairs and trying desperately to maintain the status quo, the great market singularity is beginning to take hold: that which is unsustainable will not be sustained.
Glance at those headlines one more time. This system is corrupt, perverse, and wholly unsustainable. It will reset. Reasonable, sentient human beings cannot live under such a yoke in the long run.
It's difficult to say how it will happen, when it will finish, or what it will look like at the end, but rest assured, it's already happening, and it's going to be a bumpy ride.
www.sovereignman.com
"US Congress To Vote On Declaration Of World War 3 -- An Endless War With No Borders, No Clear Enemies"
"Blackwater hired by the crown prince of Abu Dhabi to put together a secret force of foreign troops"
"10 killed in US drone attacks in northern Pakistan"
"US Officials Warn Terrorism Threat Remains Post-bin Laden"
"TSA Pat Down of Suspicious Baby Is No Big Deal"
"Treasury taps federal pensions as Uncle Sam hits debt ceiling"
"Fed chief Ben Bernanke says he's not worried about inflation"
"Global Food Prices Hit New All Time High After 8 Consecutive Months Of Gains"
"Over-50s suffer a lifestyle crash: Millions less comfortable than a year ago"
"UK And US Data Shows Stagflation Threat Deepening"
"Greek riot police, protesters clash over austerity "
"IMF: Greece needs more austerity measures"
"IMF Chief no stranger to sexual assault allegations"
"Portugal on brink of bankruptcy"
"Contagion fears high as Italy drawn into crisis"
"Italian PM Berlusconi Faces Prostitution Trial in Italy"
To an observer who is not part of our time, it must all look like a really bad joke, like it just couldn't possibly be true. In the same way, we look back upon history and wonder with skepticism and incredulity how our long-lost ancestors have possibly allowed the Inquisition, the Dark Ages, genocide and slavery to occur.
We fancy ourselves so advanced and enlightened... but my guess is that history will view us in the same way that we see those unfortunate brutes of medieval times: misguided, misled, and totally self-deluded.
We might not be burning each other at the stake anymore, or waging war for king and conquest, but the metaphoric comparisons run truly deep. Moreover, our story today is a similar one: there is a very small group of people in power whose decisions affect the lives of billions of people. Those of us not in the elite ruling class allow it to happen.
Their choices drive up food prices, increase war and destruction, bankrupt entire economies, reduce standards of living, degrade social stability, and force everyday people into conditions that look more and more like a police state.
Simultaneously, this elite group uses its position to shower itself with privileges and benefits at everyone else's expense: hard-core sex parties, handing out free money to their friends, not paying their taxes, hiring private armies to protect them from their own people, etc.
It's positively disgusting... and I have to imagine that historians of the future will scratch their heads and wonder how we allowed ourselves to be duped into such a system.
Our leaders tell us that these troubles will pass... to sit down, shut up, be patient, and put our faith and confidence in their abilities to right the ship once again. Sounds great... but there's just one problem. Nobody's buying it anymore.
We're in the beginning of a period where people are finally starting to wake up and smell the fraud... and even though the establishment is furiously rearranging the deck chairs and trying desperately to maintain the status quo, the great market singularity is beginning to take hold: that which is unsustainable will not be sustained.
Glance at those headlines one more time. This system is corrupt, perverse, and wholly unsustainable. It will reset. Reasonable, sentient human beings cannot live under such a yoke in the long run.
It's difficult to say how it will happen, when it will finish, or what it will look like at the end, but rest assured, it's already happening, and it's going to be a bumpy ride.
www.sovereignman.com
Tuesday, May 17, 2011
Enough Is Enough
There are certain times in life when a man is faced with overwhelming adversity... times when he has no reason to adhere to society's norms anymore. It is in these instances that the true quality of his character comes shining through. One of these situations is when he's broke. Dead, flat broke. Some people, even when staring deep into their own financial abyss, still hold to their moral principles, honor their obligations, and keep their word.
For others, the boundaries of morality are quickly blurred into shades of gray, and things like fraud, thievery, and deception become perfectly legitimate tactics in their minds.
Speaking of broke, faced with what is tantamount to the official insolvency of the United States of America, policymakers have opted to seize funds from the retirement accounts of public sector workers in order to keep the government running.
Wow. America's leaders are willing to engage in cannibalistic thievery in order to continue funding government operations. I wonder what sorts of operations are so important that they are willing to steal from their own people in order to finance? Any ideas?
Apparently, starting a shooting war in Pakistan was at the top of their list.
In the most insulting, disingenuous display of insensitivity and lack of regard following such a momentous financial decision, the US Defense Department decided to send helicopters into western Pakistan in a search for more ghosts. Pakistani military fired on the choppers, and the choppers fired back.
Seems like a good use of confiscated funds, no?
Never fear, though, the cracker jack squad of politicians in the 112th Congress is clearly hard at work, spending all of their time and attention at resolving the debt crisis and budget troubles.
Rep. Sheila Jackson-Lee of Texas, for example, proved to America that she's focused like a laser beam when she introduced bill HJ Res. 64 on Friday afternoon. What exactly is HJ Res 64? It's a resolution to express support for designating September 2011 as Gospel Music Heritage Month.
The similarities to Nero playing his fiddle are all too obvious.
Adding injury to insult as it were, Ms. Jackson-Lee followed up HJ Res 64 with the introduction of HR 1900, yet another bill to give TSA sweeping powers over "surface transportation" such as train stations and bus terminals. Now you can be molested in planes, trains, and automobiles. Coming soon: shopping malls!
Not to be outdone by Ms. Jackson-Lee, Senator Barbara Boxer just introduced Senate res 177 to designate May 15th through May 21st 2011 as "National Public Works Week." Wait a sec... that's this week! Well what are we waiting for, comrades!?! Grab a shovel, there's dams to build!
To cap things off, President Obama is getting ready for his highly publicized trip to Ireland next week where he will visit the ancestral home of his great great great grandfather, a small town called Moneygall.
About 298 people live in Moneygall. The town has swelled for the last two months as US Secret Service agents and the President's administrative entourage have descended upon the town to prepare for his visit. Important issues must be tended to... such as, "what kind of beer will the President drink?"
I couldn't even begin to estimate what the cost of this trip will be to US taxpayers... but somehow I doubt it's worth a single penny of seized funds.
Like I said, there are certain times in life where a person's true nature comes shining through. The government is telling us here that, even when faced with insolvency, it will happily confiscate any source of capital it can, and then continue squandering it all on useless folly.
It really leaves me wondering when people are going to wake up and say to themselves, "Enough is enough!"
Reprinted from : Simon Black Senior Editor, SovereignMan.com
For others, the boundaries of morality are quickly blurred into shades of gray, and things like fraud, thievery, and deception become perfectly legitimate tactics in their minds.
Speaking of broke, faced with what is tantamount to the official insolvency of the United States of America, policymakers have opted to seize funds from the retirement accounts of public sector workers in order to keep the government running.
Wow. America's leaders are willing to engage in cannibalistic thievery in order to continue funding government operations. I wonder what sorts of operations are so important that they are willing to steal from their own people in order to finance? Any ideas?
Apparently, starting a shooting war in Pakistan was at the top of their list.
In the most insulting, disingenuous display of insensitivity and lack of regard following such a momentous financial decision, the US Defense Department decided to send helicopters into western Pakistan in a search for more ghosts. Pakistani military fired on the choppers, and the choppers fired back.
Seems like a good use of confiscated funds, no?
Never fear, though, the cracker jack squad of politicians in the 112th Congress is clearly hard at work, spending all of their time and attention at resolving the debt crisis and budget troubles.
Rep. Sheila Jackson-Lee of Texas, for example, proved to America that she's focused like a laser beam when she introduced bill HJ Res. 64 on Friday afternoon. What exactly is HJ Res 64? It's a resolution to express support for designating September 2011 as Gospel Music Heritage Month.
The similarities to Nero playing his fiddle are all too obvious.
Adding injury to insult as it were, Ms. Jackson-Lee followed up HJ Res 64 with the introduction of HR 1900, yet another bill to give TSA sweeping powers over "surface transportation" such as train stations and bus terminals. Now you can be molested in planes, trains, and automobiles. Coming soon: shopping malls!
Not to be outdone by Ms. Jackson-Lee, Senator Barbara Boxer just introduced Senate res 177 to designate May 15th through May 21st 2011 as "National Public Works Week." Wait a sec... that's this week! Well what are we waiting for, comrades!?! Grab a shovel, there's dams to build!
To cap things off, President Obama is getting ready for his highly publicized trip to Ireland next week where he will visit the ancestral home of his great great great grandfather, a small town called Moneygall.
About 298 people live in Moneygall. The town has swelled for the last two months as US Secret Service agents and the President's administrative entourage have descended upon the town to prepare for his visit. Important issues must be tended to... such as, "what kind of beer will the President drink?"
I couldn't even begin to estimate what the cost of this trip will be to US taxpayers... but somehow I doubt it's worth a single penny of seized funds.
Like I said, there are certain times in life where a person's true nature comes shining through. The government is telling us here that, even when faced with insolvency, it will happily confiscate any source of capital it can, and then continue squandering it all on useless folly.
It really leaves me wondering when people are going to wake up and say to themselves, "Enough is enough!"
Reprinted from : Simon Black Senior Editor, SovereignMan.com
Monday, May 16, 2011
Welcome To Argentina - The Government Will Be Taking Your Retirement
Make no mistake, this will be the first step in seizure of your private retirement accounts.
The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.
Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.
May 13 (Bloomberg) -- Lee Sachs, chief executive officer for AlliancePartners and former assistant U.S. Treasury secretary, says the debt ceiling can’t be tied to deficit talks.
Graphic
A look at the national debt and the debt ceiling for the past 30 years.
More on this Story
Treasury to tap pensions to fund government
Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.
The maneuver buys Geithner only a few months of time. If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services, including the disbursal of Social Security funds.
Many congressional Republicans, however, have been skeptical that breaching the Aug. 2 deadline would be as catastrophic as Geithner suggests. What’s more, Republican leaders are insisting that Congress cut spending by as much as the Obama administration wants to raise the debt limit, without any new taxes. Obama is proposing spending cuts and tax increases to rein in the debt.
“Everything should be on the table, except raising taxes,” House Speaker John Boehner (R-Ohio) said on CBS’s “Face the Nation.” “Because raising taxes will hurt our economy and hurt our ability to create jobs in our country.”
The Obama administration has warned that it is dangerous to make a vote on raising the debt limit contingent on other proposals. But Boehner is demanding that Congress use the debt vote as a way to bring down government spending.
“I’m ready to cut the deal today,” Boehner said. “We don’t have to wait until the 11th hour. But I am not going to walk away from this moment. We have a moment, a window of opportunity to act, because if we don’t act, the markets are going to act for us.”
Geithner’s plan to tap federal retiree programs as a temporary means to avoid a government default comes as the Obama administration has shown growing interest in altering those programs to curb the debt in the long run.
Administration officials have expressed interest in raising the amount that federal employees contribute to their pensions, sources told The Washington Post.
The Republicans have suggested that the civilian workforce contribute more to its retirement in the future, effectively trimming 5 percent from salaries. The administration has not been willing to go that far in talks being led by Vice President Biden.
Treasury secretaries have tapped special programs to avoid default six times since 1985. The most protracted delay in raising the debt limit came in 1995 after congressional Republicans swept to power during the Clinton administration.
But today, the government needs far more money to cover its obligations than in the past, making the special measures less effective than they used to be. The government needs about $125 billion more a month than it takes in each month.
In a letter released last week to Sen. Michael Bennet (D-Colo.), Geithner wrote that a default would risk a “double-dip” recession.
“Default would not only increase borrowing costs for the federal government, but also for families, businesses and local governments — reducing investment and job creation throughout the economy,” Geithner wrote.
But several prominent congressional Republicans have dismissed the Obama administration’s assertion that the country would face dire consequences if Congress does not vote to raise the federal limit on government borrowing by August. Many of the skeptics are affiliated with the tea party.
In the Senate, freshman Sen. Pat Toomey (R-Pa.) has said the Obama administration has been exaggerating the effects of hitting the default mark. He says breaching the limit would cause only a partial government shutdown.
Other freshman Republicans have said that Geithner could raise money to avoid defaulting by selling investments in private companies. The Republican Study Committee, which represents more than 150 lawmakers, sent a letter to Geithner last week pressing for more details about the Aug. 2 deadline
The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.
Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.
May 13 (Bloomberg) -- Lee Sachs, chief executive officer for AlliancePartners and former assistant U.S. Treasury secretary, says the debt ceiling can’t be tied to deficit talks.
Graphic
A look at the national debt and the debt ceiling for the past 30 years.
Treasury to tap pensions to fund government
Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.
The maneuver buys Geithner only a few months of time. If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services, including the disbursal of Social Security funds.
Many congressional Republicans, however, have been skeptical that breaching the Aug. 2 deadline would be as catastrophic as Geithner suggests. What’s more, Republican leaders are insisting that Congress cut spending by as much as the Obama administration wants to raise the debt limit, without any new taxes. Obama is proposing spending cuts and tax increases to rein in the debt.
“Everything should be on the table, except raising taxes,” House Speaker John Boehner (R-Ohio) said on CBS’s “Face the Nation.” “Because raising taxes will hurt our economy and hurt our ability to create jobs in our country.”
The Obama administration has warned that it is dangerous to make a vote on raising the debt limit contingent on other proposals. But Boehner is demanding that Congress use the debt vote as a way to bring down government spending.
“I’m ready to cut the deal today,” Boehner said. “We don’t have to wait until the 11th hour. But I am not going to walk away from this moment. We have a moment, a window of opportunity to act, because if we don’t act, the markets are going to act for us.”
Geithner’s plan to tap federal retiree programs as a temporary means to avoid a government default comes as the Obama administration has shown growing interest in altering those programs to curb the debt in the long run.
Administration officials have expressed interest in raising the amount that federal employees contribute to their pensions, sources told The Washington Post.
The Republicans have suggested that the civilian workforce contribute more to its retirement in the future, effectively trimming 5 percent from salaries. The administration has not been willing to go that far in talks being led by Vice President Biden.
Treasury secretaries have tapped special programs to avoid default six times since 1985. The most protracted delay in raising the debt limit came in 1995 after congressional Republicans swept to power during the Clinton administration.
But today, the government needs far more money to cover its obligations than in the past, making the special measures less effective than they used to be. The government needs about $125 billion more a month than it takes in each month.
In a letter released last week to Sen. Michael Bennet (D-Colo.), Geithner wrote that a default would risk a “double-dip” recession.
“Default would not only increase borrowing costs for the federal government, but also for families, businesses and local governments — reducing investment and job creation throughout the economy,” Geithner wrote.
But several prominent congressional Republicans have dismissed the Obama administration’s assertion that the country would face dire consequences if Congress does not vote to raise the federal limit on government borrowing by August. Many of the skeptics are affiliated with the tea party.
In the Senate, freshman Sen. Pat Toomey (R-Pa.) has said the Obama administration has been exaggerating the effects of hitting the default mark. He says breaching the limit would cause only a partial government shutdown.
Other freshman Republicans have said that Geithner could raise money to avoid defaulting by selling investments in private companies. The Republican Study Committee, which represents more than 150 lawmakers, sent a letter to Geithner last week pressing for more details about the Aug. 2 deadline
Saturday, May 14, 2011
Friday, May 13, 2011
Thursday, May 12, 2011
Debt Ceiling Reached, Again...
The Treasury Department auctioned $56 billion in new debt Tuesday and Wednesday, enough to take the U.S. over its federal debt ceiling when the three- and 10-year notes settle on Monday.
Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.
The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.
As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department.
The Obama administration has asked Congress to raise the limit, warning that failure to act could lead the government to default by Aug. 2--and could spook investors even before then.
House Speaker John Boehner (R., Ohio) said Monday that any increase in the government's debt limit should be accompanied by trillions of dollars in spending cuts.
"It's true that allowing America to default would be irresponsible. But it would be more irresponsible to raise the debt limit without simultaneously taking dramatic steps to reduce spending and to reform the budget process," he said.
The federal budget deficit widened in April, with the government spending $ 40.49 billion more than it collected last month, a Treasury Department report said Wednesday.
The deficit was the 31st monthly shortfall in a row. With seven months of fiscal 2011 elapsed, the government has spent $869.90 billion more than it has collected.
Even the most aggressive plans wouldn't wipe out budget deficits for years, meaning that debt will continue to mount.
Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.
The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.
As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department.
The Obama administration has asked Congress to raise the limit, warning that failure to act could lead the government to default by Aug. 2--and could spook investors even before then.
House Speaker John Boehner (R., Ohio) said Monday that any increase in the government's debt limit should be accompanied by trillions of dollars in spending cuts.
"It's true that allowing America to default would be irresponsible. But it would be more irresponsible to raise the debt limit without simultaneously taking dramatic steps to reduce spending and to reform the budget process," he said.
The federal budget deficit widened in April, with the government spending $ 40.49 billion more than it collected last month, a Treasury Department report said Wednesday.
The deficit was the 31st monthly shortfall in a row. With seven months of fiscal 2011 elapsed, the government has spent $869.90 billion more than it has collected.
Even the most aggressive plans wouldn't wipe out budget deficits for years, meaning that debt will continue to mount.
Tuesday, May 10, 2011
Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending
Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending
First it was a "bombshell" when it happened in "third world" Argentina. Now it's happening in "first world" Ireland. People have been discussing this as a possibility in the USA for quite some time, including my own little Bitter Patriot Blog.
Everyone tells me that I am out of my mind for even suggesting that the Federal Govt might consider confiscation of Private Retirement Accounts. Well, what do you think now?
First it was a "bombshell" when it happened in "third world" Argentina. Now it's happening in "first world" Ireland. People have been discussing this as a possibility in the USA for quite some time, including my own little Bitter Patriot Blog.
Everyone tells me that I am out of my mind for even suggesting that the Federal Govt might consider confiscation of Private Retirement Accounts. Well, what do you think now?
Friday, May 6, 2011
Thursday, May 5, 2011
Now, the Govt wants to tax you per mile you drive!
The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive.
The plan is a part of the administration's Transportation Opportunities Act, an undated draft of which was obtained this week by Transportation Weekly.
The White House, however, said the bill is only an early draft that was not formally circulated within the administration.
“This is not an administration proposal," White House spokeswoman Jennifer Psaki said. "This is not a bill supported by the administration. This was an early working draft proposal that was never formally circulated within the administration, does not taken into account the advice of the president’s senior advisers, economic team or Cabinet officials, and does not represent the views of the president.”
News of the draft follows a March Congressional Budget Office report that supported the idea of taxing drivers based on miles driven.
Among other things, CBO suggested that a vehicle miles traveled (VMT) tax could be tracked by installing electronic equipment on each car to determine how many miles were driven; payment could take place electronically at filling stations.
The CBO report was requested by Senate Budget Committee Chairman Kent Conrad (D-N.D.), who has proposed taxing cars by the mile as a way to increase federal highway revenues.
Obama's proposal seems to follow up on that idea in section 2218 of the draft bill. That section would create, within the Federal Highway Administration, a Surface Transportation Revenue Alternatives Office. It would be tasked with creating a "study framework that defines the functionality of a mileage-based user fee system and other systems."
RELATED ARTICLES
White House disowns plan to tax mileage
The administration seems to be aware of the need to prepare the public for what would likely be a controversial change to the way highway funds are collected. For example, the office is called on to serve a public-relations function, as the draft says it should "increase public awareness regarding the need for an alternative funding source for surface transportation programs and provide information on possible approaches."
The draft bill says the "study framework" for the project and a public awareness communications plan should be established within two years of creating the office, and that field tests should begin within four years.
The office would be required to consider four factors in field trials: the capability of states to enforce payment, the reliability of technology, administrative costs and "user acceptance." The draft does not specify where field trials should begin.
The new office would be funded a total of $300 million through fiscal 2017 for the project.
The plan is a part of the administration's Transportation Opportunities Act, an undated draft of which was obtained this week by Transportation Weekly.
The White House, however, said the bill is only an early draft that was not formally circulated within the administration.
“This is not an administration proposal," White House spokeswoman Jennifer Psaki said. "This is not a bill supported by the administration. This was an early working draft proposal that was never formally circulated within the administration, does not taken into account the advice of the president’s senior advisers, economic team or Cabinet officials, and does not represent the views of the president.”
News of the draft follows a March Congressional Budget Office report that supported the idea of taxing drivers based on miles driven.
Among other things, CBO suggested that a vehicle miles traveled (VMT) tax could be tracked by installing electronic equipment on each car to determine how many miles were driven; payment could take place electronically at filling stations.
The CBO report was requested by Senate Budget Committee Chairman Kent Conrad (D-N.D.), who has proposed taxing cars by the mile as a way to increase federal highway revenues.
Obama's proposal seems to follow up on that idea in section 2218 of the draft bill. That section would create, within the Federal Highway Administration, a Surface Transportation Revenue Alternatives Office. It would be tasked with creating a "study framework that defines the functionality of a mileage-based user fee system and other systems."
RELATED ARTICLES
White House disowns plan to tax mileage
The administration seems to be aware of the need to prepare the public for what would likely be a controversial change to the way highway funds are collected. For example, the office is called on to serve a public-relations function, as the draft says it should "increase public awareness regarding the need for an alternative funding source for surface transportation programs and provide information on possible approaches."
The draft bill says the "study framework" for the project and a public awareness communications plan should be established within two years of creating the office, and that field tests should begin within four years.
The office would be required to consider four factors in field trials: the capability of states to enforce payment, the reliability of technology, administrative costs and "user acceptance." The draft does not specify where field trials should begin.
The new office would be funded a total of $300 million through fiscal 2017 for the project.
Bin Laden had a pocket full of Euros
Aparently, Osama Bin Laden was carrying about €800 in his pocket. Not even terrorists trust the dollar anymore!
Mexico quietly buys 100 tons of gold bullion
Mexico has quietly purchased nearly 100 tons of gold bullion, as central banks embark on their biggest bullion buying spree in 40 years.
The purchase, reported in monthly data published by Mexico’s central bank, is the latest in a series of large gold buys by emerging market economies intent on diversifying reserves away from the faltering US dollar.
China, Russia and India have acquired large amounts of gold
in recent years, while Thailand, Sri Lanka and Bolivia have made smaller purchases.
Central banks became net buyers of gold last year after two decades of heavy selling – a reversal that has helped propel the price of bullion to a series of record highs.
On Wednesday gold was trading at about $1,510 a troy ounce, down 4 percent from a nominal record high of $1,575.79 reached on Monday.
As a result of Mexico’s purchase, central banks, sovereign wealth funds and other so-called “official sector” buyers are on track to record their largest collective purchase of gold since the collapse of the Bretton Woods system, which pegged the value of the dollar to gold, in 1971.
GFMS, a precious metals consultancy, had predicted that the official sector would make net gold purchases of 240 tons this year, compared with a post-Bretton Woods peak of 276 tons in 1981.
Philip Klapwijk, GFMS executive chairman, told the Financial Times that forecast “might turn out to be conservative” in light of Mexico’s surprise move.
The reversal of two decades of gold selling marks the end of an era characterized by widespread faith in paper currencies and sovereign debt.
The dollar
has plunged 10 percent against the world’s major currencies since January and is trading near an all-time low.
Mexico bought 93.3 tons of gold in February and March, according to the central bank, in a haul valued at $4.5 billion at current prices and equivalent to 3.5 percent of annual mined output.
The country’s foreign exchange reserves have ballooned since last summer, buoyed by its interventions in the currency market to prevent the peso from appreciating.
“[The buying] seems to confirm there’s an appetite now among emerging economies with large forex reserves to add to their gold reserves,” said Matthew Turner, precious metals strategist at Mitsubishi, the Japanese trading house.
“Gold is seen as one way in which to diversify away from the dollar or euro-denominated assets.”
Although gold has quintupled in value over the past decade, it has fallen back in recent days led by a 20 percent tumble in the price of silver.
Just as central banks unwittingly marked the bottom of the market a decade ago with large sales of gold from their reserves, some investors fear that the current rush to buy may signal a top.
The purchase, reported in monthly data published by Mexico’s central bank, is the latest in a series of large gold buys by emerging market economies intent on diversifying reserves away from the faltering US dollar.
China, Russia and India have acquired large amounts of gold
in recent years, while Thailand, Sri Lanka and Bolivia have made smaller purchases.
Central banks became net buyers of gold last year after two decades of heavy selling – a reversal that has helped propel the price of bullion to a series of record highs.
On Wednesday gold was trading at about $1,510 a troy ounce, down 4 percent from a nominal record high of $1,575.79 reached on Monday.
As a result of Mexico’s purchase, central banks, sovereign wealth funds and other so-called “official sector” buyers are on track to record their largest collective purchase of gold since the collapse of the Bretton Woods system, which pegged the value of the dollar to gold, in 1971.
GFMS, a precious metals consultancy, had predicted that the official sector would make net gold purchases of 240 tons this year, compared with a post-Bretton Woods peak of 276 tons in 1981.
Philip Klapwijk, GFMS executive chairman, told the Financial Times that forecast “might turn out to be conservative” in light of Mexico’s surprise move.
The reversal of two decades of gold selling marks the end of an era characterized by widespread faith in paper currencies and sovereign debt.
The dollar
has plunged 10 percent against the world’s major currencies since January and is trading near an all-time low.
Mexico bought 93.3 tons of gold in February and March, according to the central bank, in a haul valued at $4.5 billion at current prices and equivalent to 3.5 percent of annual mined output.
The country’s foreign exchange reserves have ballooned since last summer, buoyed by its interventions in the currency market to prevent the peso from appreciating.
“[The buying] seems to confirm there’s an appetite now among emerging economies with large forex reserves to add to their gold reserves,” said Matthew Turner, precious metals strategist at Mitsubishi, the Japanese trading house.
“Gold is seen as one way in which to diversify away from the dollar or euro-denominated assets.”
Although gold has quintupled in value over the past decade, it has fallen back in recent days led by a 20 percent tumble in the price of silver.
Just as central banks unwittingly marked the bottom of the market a decade ago with large sales of gold from their reserves, some investors fear that the current rush to buy may signal a top.
Wednesday, May 4, 2011
Monday, May 2, 2011
Bin Laden is dead, hang on for more police state tyranny.
WASHINGTON – Osama bin Laden, the face of global terrorism and architect of the Sept. 11, 2001, attacks, was killed in a firefight with elite American forces Monday, then quickly buried at sea in a stunning finale to a furtive decade on the run.
Long believed to be hiding in caves, bin Laden was tracked down in a costly, custom-built hideout not far from a Pakistani military academy. The stunning news of his death prompted relief and euphoria outside the White House and around the globe, yet also deepening fears of terrorist reprisals against the United States and its allies.
"Justice has been done," President Barack Obama said late Sunday from the White House in an announcement that seemed sure to lift his own political standing.
The military operation took mere minutes, and there were no U.S. casualties.
Read more here
As I see it, this was very convenient to kill Osama bin Laden then quickly dispose of all evidence at sea. I bet that each ship out there thinks that one of the others disposed of the body. It's been speculated for years that bin Laden was already dead and "on ice" somewhere in the middle east, waiting for a good political opportunity.
What is the play here? More police state tyranny? More fear based policy making from the White House? Distraction from the collapse of the US Dollar? Tighter controls on firearm ownership? All of the above?
Long believed to be hiding in caves, bin Laden was tracked down in a costly, custom-built hideout not far from a Pakistani military academy. The stunning news of his death prompted relief and euphoria outside the White House and around the globe, yet also deepening fears of terrorist reprisals against the United States and its allies.
"Justice has been done," President Barack Obama said late Sunday from the White House in an announcement that seemed sure to lift his own political standing.
The military operation took mere minutes, and there were no U.S. casualties.
Read more here
As I see it, this was very convenient to kill Osama bin Laden then quickly dispose of all evidence at sea. I bet that each ship out there thinks that one of the others disposed of the body. It's been speculated for years that bin Laden was already dead and "on ice" somewhere in the middle east, waiting for a good political opportunity.
What is the play here? More police state tyranny? More fear based policy making from the White House? Distraction from the collapse of the US Dollar? Tighter controls on firearm ownership? All of the above?
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