Earlier this year, we thought we’d be willing to trade an increase in the debt ceiling for something of lasting value — like a balanced budget amendment. We now think that’s a strategic mistake.
The real strategic opportunity lies in the debt ceiling itself. As long as we maintain THAT, then nothing else needs to be done to balance the budget.
“I called the Speaker and Leader today and emailed my representatives. Thanks for encouraging me to do so. It feels good, real good.” — Will Ashby, DC Downsizer
“GOP leaders argue that extending the PATRIOT Act is especially important because the killing of Osama bin Laden might inspire retaliatory terrorist attacks against Americans. Call me cynical, but had Bin Laden not yet been killed or captured, I’m sure that these same GOP leaders would argue that extending the PATRIOT Act is especially important because Osama bin Laden remains on the loose.” – Don Boudreaux
Three controversial provisions of the so-called Patriot Act are set to expire on May 27.
Quote of the Day: “Liberty is the possibility of doubting, the possibility of making a mistake, the possibility of searching and experimenting, the possibility of saying “No” to any authority — literary, artistic, philosophic, religious, social and even political.” — Ignazio Silone (1900-1978) Source: The God That Failed, 1950
The politicians are trying to tax the Internet again. Let’s stop them.
You’re paying an invisible tax — the Regulation Tax. It has grown by two-thirds over the past ten years, and is now more than $15,000 per household.
The Federal State’s price controls, paperwork, entry restrictions, environmental controls, and workplace regulations increase the prices you pay for everything you buy. These costs also discourage businesses from expanding and hiring. They often force lay-offs.
As the letter below indicates, the sheer size of the regulatory burden is shocking.
by John Browne, Senior Market Strategist at Euro Pacific Capital
When Fed Chairmen speak, the public is supposed to listen; and, historically, they have. Yet, Chairman Bernanke’s remarks at his historic first press conference were met by a tidal wave of skepticism. Although many of the mainstream outlets, especially those lucky enough to be granted question slots, characterized his performance as “serious” and “masterful,” most rank-and-file Americans were left with a very different impression.
Any casual glance at the broad internet coverage of the event shows that the public is deeply skeptical of Mr. Bernanke and the actions he is taking. If that skepticism runs more than skin-deep, it could herald a fundamental change in American politics and a restoration of sound finance in America. Already politicians seem to be taking notice.
The struggle over raising the national debt ceiling has prompted many members of Congress to talk about a negotiated and practical plan to slash government spending. The early posturing has begun. While much of it is merely window dressing, as politicians continue to escalate their rhetoric, they will eventually be forced to actually do something to make good on their promises. Their mouths are writing checks that their budget proposals may have to cash.
Last Friday, several functions of the Federal State nearly shut down as Democrats and Republicans fought over things like tax funding for abortion providers. It’s the usual con game . . .
In other words, the politicians are still pretending to fight a “Culture War.” But are the people following their lead? I think not.
It seems to me that times have changed. People are waking up. They’re becoming harder to manipulate. As the letter below indicates, the real Culture War isn’t the one being portrayed by the institutional media. It’s not the conservatives against the liberals; it’s the politicians against YOU.
Quote of the Day: “The problem isn’t the abuse of power, it’s the power to abuse.” — Michael Cloud
The Electronic Frontier Foundation is urging people to call the White House TODAY, and urge President Obama to veto any Patriot Act renewal that doesn’t contain civil liberties protections.
We agree. This is a good opportunity to remind the President that he promised to reform the Patriot Act when he was a candidate.
Quote of the Day: “Most American interventions come from two closely related childish fantasies: first, that one side in a tribal war is all good and the other all bad; and second, that the weaker tribe are the ‘underdogs’ and therefore the good guys. Just look at those two ideas and you’ll see that they’re a series of disasters waiting to happen.” – Gary Brecher
Liberty Maven
by John Browne, Senior Market Strategist at Euro Pacific Capital
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