Washington Thinks This Is Just One Big Joke

SHOW NOTES – 10/12/13

Washington Thinks This Is Just One Big Joke

Plus, exclusive interviews with Precious Metals Expert, Tom Cloud and CATO Institute Researcher, Tad DeHaven

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SEGMENT ONE

Protecting Your Money from the Debt Ceiling Madness and Political Flip-Floppers

The sheer fiscal insanity and spineless leadership that infects Washington is only exacerbated by the American people’s defense of these thugs based upon their team colors. When will the American people realize that they themselves are the butt of a bad joke?

Amid the recent U.S. government shutdown, both political parties have been refining their talking points in an effort to gain public support for their positions.

As usual, the political theater has led to a new and obnoxious blame game. The Democrats point their finger at the House Republicans citing their obsession with defunding Obamacare and their failure to pass a “clean” continuing resolution (spending bill) as the reason for the partial government shutdown.

Meanwhile, House Republicans have fired back by highlighting the “unfairness” of Obamacare and claiming the new law will bankrupt America.

And, in typical fashion, those who still choose to believe the ridiculous words gushing out of the mouths of political leaders from both sides of the aisle have come out swinging for their respective party.

Quick Disclaimer: Due to the politically hostile nature of our culture, I must regularly remind our readership of my political atheism to avoid the inevitable buckets of hate mail. So, here’s my disclaimer once again: While I have little sympathy for either party, I do admit that I find myself repulsed by many of the policies promoted by the Democrats. However, it is the doublespeak of the Republican party that provides me with the highest entertainment value. I compare my interest in the Washington political machine with that of a bad car wreck. Rubberneckers slow down as they drive by a massive car accident. We don’t want to look, but we can’t help ourselves. While I know this is a crude comparison, it is fitting in so many ways. Now, back to the show…

The political wrangling in Washington has crippled the democratic process. Years of gargantuan spending levels on the “warfare and welfare” state by both political parties have driven our nation to the edge of financial insolvency. And it is getting worse, not better, by the day.

Of course, neither party appears interested in taking responsibility for the fiscal train wreck that awaits America. Instead, as Rome burns, our elected officials engage in intellectual jousting matches cleverly designed to cast all blame on their opponents.

One recent example of the political blame game comes from one of the political writers that I have admired for years: Thomas Sowell.

In a recent article entitled, Who Shut Down the Government?, Sowell applies his mostly clear-eyed analysis to sorting out the facts of the current government shutdown debacle.

Sowell is absolutely correct. Republicans did indeed vote to spend “all of the money required to keep all government activities going…”

Republicans voted to keep giving money to:

But I can already hear someone protesting: “All those things are out of the House’s control.”

If that is your belief, let’s permit more space for Mr. Sowell to correct you.

That’s right. Sowell explains that it is the House that gets to decide whether the nation spends money on a “particular government activity.”

Wow! What a time to remind the American people who has control of America’s purse strings.

So, while government spending levels spiral out of control, the House has decided that it only wants a fight to defund Obamacare. This is rather convenient for the GOP, considering Obamacare has not yet had a chance to permeate the nation. I think that honest hard-working Americans should hold their applause and standing ovations for these “sudden fiscal conservatives” who want to defund one government program while funding other similar programs at extreme levels.

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After all, if the GOP is so “gung-ho” to stop the rampant growth in government spending, why stop at Obamacare? Don’t get me wrong. I would love to see Obamacare defunded and replaced with a free market solution. But I am more interested in seeing across the board cuts to ALL government programs in order to stave off an inevitable default in the years ahead.

Since the House has the responsibility of “approving all government spending,” can anyone answer why these “sudden fiscal conservatives” have refused to defund the existing entitlement programs that pose a much more grave threat to our Republic? After all, both parties have given the current House plenty of entitlement reform opportunities.

According to a fiscal analysis by the Office of Management and Budget, over the next decade:

In comparison, the nonpartisan CBO has projected that, over the next decade, Obamacare will cost taxpayers $1.8 trillion.

So, the basic arithmetic suggests that these “sudden fiscal conservatives” are picking on the littlest guy in the room.

Obamacare is an easy target for the GOP simply because they don’t have to take away benefits from anyone. Why? Because the plan is just now being implemented.

Can you imagine if these “sudden fiscal conservatives” were to apply the same political strength to an effort to defund Social Security, which currently send checks to 62 million beneficiaries? Or what about defunding Medicare which provides health coverage to over 48 million Americans?

These “sudden fiscal conservatives” won’t even touch their own Republican-inspired entitlement programs. They seemingly ignore President Bush Jr’s disastrous Medicare Prescription Drug Act, which will cost U.S. taxpayers $1.1 trillion over the next decade. In fact, several of these GOP con-men were standing, all grins, next to President George W. Bush as he signed the Medicare Prescription Drug Act into law.

The sheer fiscal insanity and spineless leadership that infects Washington is only exacerbated by the American people’s defense of these thugs based upon their team colors. When will the American people realize that they themselves are the butt of a bad joke?
 

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Precious Metals Market Update – Precious Metals Advisor, Tom Cloud

This week, Jerry interviews Precious Metals Advisor, Tom Cloud about the economic events that have taken place in the last few weeks. Tom discusses the Fed’s announcement not to taper QE3, the federal government shutdown and debt ceiling debate, and what it all means for gold and silver. Further, Tom shares how he brokers the best prices on precious metals for his clients after having been in the industry for 37 years.

Interview highlights:

• The Fed cannot taper QE, which is why the dollar continues to lose value
• Gold prices are a gift at these low prices
• The wealthy continue to put their money into hard assets, including gold, silver, and diamonds
• The economy does not get better from here, it only gets worse, which is why we believe gold will soar in the coming years

OVER 10 HOURS OF FREE PRECIOUS METALS INVESTING EDUCATIONAL RESOURCES HERE >>

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SEGMENT TWO

Social Security Disability Fraud: Interview with Tad DeHaven of CATO Institute

Last weekend, Senator Tom Coburn (R-OK) was interviewed on 60 Minutes regarding his investigation into claims of Social Security Disability fraud. While such fraud is clearly not a new phenomenon, what is new is that the Federal government is actually taking the threat of people gaming the entitlement system more seriously.

During President George W. Bush’s eight years in office, annual government spending on Social Security disability benefits (SSDI) exploded by over 90%, from $56 billion in 2000 to $107 billion in 2008.

Over the last five years under President Obama, spending on SSDI has increased another 34%. And based upon current trends, SSDI benefits will continue to engulf an even larger portion of taxpayer dollars in the future.

As of this writing, the Social Security Administration (SSA) provides disability income benefits to just over 14 million Americans.

Tad DeHaven of the CATO Institute joins us to give some insight into this fraud that is leading to government waste. Tad is a budget analyst on federal and state budget issues for the Cato Institute. Previously he was a deputy director of the Indiana Office of Management and Budget. DeHaven also worked as a budget policy advisor to Senators Jeff Sessions (R-AL) and Tom Coburn (R-OK).

His articles have been published in the Washington Post, Washington Times, New York Post, Wall Street Journal Online, National Review and Politico.com. He has appeared on the CBS Evening News, CNBC, Fox News Channel, Fox Business Channel, and NPR. Tad has written extensively about the rising cost of Social Security Disability Insurance due to fraud and gaming the system.

WHAT JERRY THINKS: Here’s One Simple Way to End Social Security Disability Fraud

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