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Taxmageddon Looms

June 22, 2012 by  

Another recession coming? The non-partisan Congressional Budget Office confirmed something I wrote about in Are You Ready For Taxmageddon. The CBO estimates that if the George W. Bush-era tax cuts aren’t renewed at the end of this year, our economy will contract by 1.3 percent in the first half of 2013. Gross domestic product is already pretty anemic, increasing just 2.2 percent for the first quarter of this year.

Another Democrat abandons Obama. Artur Davis, a four-term Congressman from Alabama who was one of Barack Obama’s earliest supporters, shocked the Democratic establishment by announcing that he was becoming a Republican. Quoting a phrase first popularized by Ronald Reagan, Davis said that the Democratic Party had left him, not the other way around. But the national media, which loved to publicize any Republican dissent with George Bush, has been conspicuously silent when a Democrat jumps ship.

Mitt Romney is raising some big bucks. Last month, the Mitt Romney campaign raised more money than the Barack Obama campaign. According to official accounts, some $77 million poured into coffers of Romney and the Republican Party in May. This was some $17 million more than Obama raised, even counting the big bucks fundraiser at George Clooney’s house.

The quote of the week. Actually, this one comes from a Peggy Noonan column in The Wall Street Journal two weeks ago: “Any president will, in a presidential election year, be political. But there is a startling sense with Mr. Obama that that’s all he is now, that he and his people are all politics, all the time, undeviatingly, on every issue. He isn’t even trying to lead, he’s just trying to win.” Indeed, he is.

–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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  • PELICAN1001

    TO ALL CONGRESSMEN AND SENATORS

    WHEN YOU TOOK THE OATH OF OFFICE YOU SWORE THAT YOU WOULD UP HOLD THE CONSTITUTION AND DEFEND THE UNITED STATES. YOU HAVE NOT DONE YOU JOB

    I AM BEGINING TO THINK THAT NONE OF YOU HAVE A BACKBONE OR A SPINE.
    MOST OF YOU ARE SPINELESS FOLLOWERS WHO CANT THINK FOR THEMSELVES.

    WHY ARE YOU SELLING US DOWN THE RIVER. IT APPEARS TO ME THAT MOST OF YOU WOULD LIKE TO SEE ANOTHER NAZI GERMANY HERE IN THE US. WE WERE SUCH A GREAT COUNTRY UNTIL YOU PEOPLE TOOK STUPID PILLS AND ARE CARRYING US BACK IN TIME TO PRE WORLD WAR 2.

    WHY ARE ALL OF YOU ALLOWING OBAMA TO:

    ALL OF YOU CONGRESS MEN ALLOW OBAMA TO ILLEGALLY SIT IN OFFICE EVEN THOUGH HE IS NOT NOW OR NEVER WAS A US CITIZEN
    WHY DO YOU ALLOW OBAMA TO ABUSE THE EXECUTIVE ORDER (WHICH SHOULD ONLY BE USED FOR DIRE EMERGENCIES) NOT TO GET YOUR OWH WAY AND TURN THIS COUNTRY INTO A DICTATORSHIP AND ALL OF YOU CONGRESSMEN JUST SIT BACK AND ALLOW HIM TO DO WHATEVER HE PLEASES
    WHY ARENT YOU CONGRESSMEN FIGHTING MORE TO GET RID OF THE ABUSE OF ALL THESE ILLEGALS WHO ARE DRIVING THIS COUNTRY INTO FINANCIAL RUIN WITH THEIR DRAIN ON THE SYSTEM…..NO YOU JUST SIT BACK AND LET IT HAPPEN
    LETS GET RID OF THE DREAM ACT…..ANOTHER ITEM TO WHICH YOU JUST SIT BACK AND DO NOTHING
    WHY ARE YOU JUST STANDING BY AND ALLOWING VOTER FRAUD; DEAD PEOPLE VOTING; ILLEGALS VOTING; DOGS VOTING…..ONCE AGAIN YOU JUST SIT BACK AND DO NOTHING AND LET IT HAPPEN
    WHY…… WHEN 75% OF THE US CITIZENS DO NOT WANT OBAMACARE…..YOU JUST SIT BACK AND LET IT HAPPEN
    WHY ARENT YOU DOING ANY INVESTIGATION INTO THE WHITE HOUSE LEAKS……WHY IS THIS COUNTGRYS SAFETY PUT AT RISJ….AND YOU JUST SIT BACK AND DO NOTHING
    WHY ARENT YOU MAKING A GREATER EFFORT TO FORCE OBAMA TO GET SPENDING UNDER CONTROL…..NO YOU JUST SIT BACK AND LE OBAMA JUST PRINT UP SOME MORE MONEY….AND YOU AGAIN SIT BACK AND DO NOTHING
    WHY ARENT YOU FIGHTING THE UN AGENDA 21…..WHY ARE YOU SO WILLING TO LETS THE NUTS OF THE UN TAKE OVER THIS COUNTRY….YOU JUST SIT BACK AND DO NOTHING
    JUST IN CASE YOU DON’T KNOW IT…..WE HAVE THE FREEDOM OF SPEECH AND FREEDOM TO ASSEMBLE……WHY ARE YOU TRYING TO CURTAIL THE ACTIVITIES OF THE TEA PARTIES…..YET YOU ALLOWED THE OCCUPY WALLSTREETERS TO DEMONSTRAT E TO THE POING THAT PERSONAL SAFETY AND PROPERTY WAS AT RISK…..INTERFER WITH PEOPLE WHO WANTED TO GO TO WORK; SHOP; DRIVE OVER A BRIDGE; STOP TRAFFIC…..AND ONCE AGAIN YOU SAT BACK AND DID NOTHING

    LETS WAKE UP AND GET THIS COUNTRY BACK TO WHERE IT WAS BEFORE YOU ALLOWED IT TO BE DESTROYED
    WHEN YOU TOOK THE OATH OF OFFICE YOU SWORE THAT YOU WOULD UP HOLD THE CONSTITUTION AND DEFEND THE UNITED STATES. YOU HAVE NOT DONE YOU JOB

    IF YOU CANT DO YOUR JOBS YOU SHOULD GET OUT OF OFFICE AND LET SOMEONE WHO WILL FO THE JOB STEP UP TO THE PLATE.
    THE REPUBLICANS HAVE HAD THE EDGE IN THE HOUSE OF REPRESENTATIVES FOR ALMOST TWO YEARS AND YOU HAVE ACCOMPLISHED DIDDLY SQUAT YOU SHOULD ALL BE ASHAMED OF YOURSELVES. YOU HAVE NOT ACCOMPLISHED NOT OHNE THING OF IMPORTANTCE OR THAT WOULD MAKE A DEFFERENCE.

    IT APPEARS THAT ALL YOU ARE THERE FOR IS YOUR OWN EGOS. AND THAT IS NOT WHY YOU WERE SENT TO WASHINGTON.
    YOU WERE SENT THERE TO MAKE A DIFFERENCE
    IT IS TIME FOR ALL OF YOU TO BE HELD ACCOUNTABLE

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