Scare Tactics Just Part Of The Political Game

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Obama’s doomsday scenarios. Even if every penny of the “sequestration” goes into effect, which I doubt, you can be sure that Washington will spend more money this year than it did last year. If the Feds would just hold spending for 2013 to 2012 levels, there would be more than $85 billion in budget cuts. But President Barack Obama and his allies want to frighten the public into opposing any reductions, thus the threats to cut back on police, firefighters, border patrols, teachers and emergency personnel. It’s all part of the game to frighten a gullible public and to intimidate conservatives in Congress.

The most political Oscars ever? In case you fell asleep before the Academy Awards finally announced which movie won best picture of the year (or never tuned in to the snooze-a-thon in the first place), the biggest surprise wasn’t that “Argo” won the top honor. No, it was that the broadcast switched to the White House, where Michelle Obama announced the winner. I guess it was just part of the payback for Hollywood, since its stars raised hundreds of millions of dollars last year to insure Barack Obama’s re-election.

This “no pass, no pay” measure won’t fly. In one of the first acts of the new Congress, conservatives in the House of Representatives pushed through a bill that will withhold the pay of lawmakers in either chamber of Congress, if that chamber fails to pass a Federal budget by mid-April. While I agree with the sentiment, I don’t think there’s a chance it will pass Constitutional muster. After all, the 27th Amendment states clearly that “no law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of Representatives shall have intervened.” It seems pretty clear to me. Although, come to think of it, being unConstitutional hasn’t deterred many other Federal actions.

Reader’s Digest declares bankruptcy… again. For the second time in 3.5 years, one of the most iconic magazines in U.S. history has declared bankruptcy. Reader’s Digest Association and six affiliates filed for Chapter 11 protection in mid-February. The company, which listed more than $1.2 billion in liabilities, hopes to reorganize and continue operations. Based in New York and with operations in 41 countries other than the United States, the company publishes 75 magazines, including 49 versions of its namesake publication.   

–Chip Wood

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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