Best of the Week
Most Popular
1.U.S. Housing Bull Market Over? House Prices Trend Forecast Current State - Nadeem_Walayat
2.The Coming U.S. Economic Collapse Will Trigger a Revolution - Harry_Dent
3. Stock Market Crash a Historical Pattern? - Wim_Grommen
4.Global Panic - U.S. Federal Government Stockpiling Ammo – Here’s What We’re Going to Do - Shah Gilani
5.AI, Robotics, and the Future of Jobs - Aaron Smith
6.This is Your Economic Recovery With and Without Drugs - James_Quinn
7.Gold and Silver Price Getting Set To Explode Higher - Austin_Galt
8.The Something for Nothing Society - Lifecycle of Bureaucracy - Ty_Andros
9.Another Interesting Stock Market Juncture - Tony_Caldaro
10.Inflation vs the Deflationary Straw Man - Gary_Tanashian
Last 5 days
Bitcoin Price Might Move Shortly - 2nd Sep 14
Why Brent Crude Oil Prices Won’t Fall Below $100 a Barrel - 2nd Sep 14
3 Important Gold Charts - Transparent Holdings Fall As Bullion Goes East To Russia and China - 2nd Sep 14
NWO Enforcer: NATO Threatens WW III - 2nd Sep 14
"Financialization" Will Ruin America. Unless We Do This... - 2nd Sep 14
Stock and Commodity Market Ratio Messages - 2nd Sep 14
Gold Price - The Thin End of the Wedge - 2nd Sep 14
U.S. Inflation Pressures in Core Food Components - 2nd Sep 14
Independent Scotland Currency, Plan A, B, C or D - British or Scottish Pound? - 2nd Sep 14
Gold and Silver Price A Critical Juncture - 2nd Sep 14
Gold and Silver Precious Metals Complex Contradiction and Potential - 2nd Sep 14
France And The Long-Gone Thatcher Moment - 2nd Sep 14
Stock Market Approaching An Important High? - 2nd Sep 14
Gold, Silver Price Summer Doldrums Coming to an End - 2nd Sep 14
The Ultimate Demise Of The Euro Union - 1st Sep 14
Palladium Price Breaks Multi-Year High Over $900 - 1st Sep 14
When Complexity Becomes Chaos - 1st Sep 14
Designer War By Default - 1st Sep 14
Islamic State or Russia? Ten Key Questions Towards Pragmatism - 1st Sep 14
Mixed Emotions for the Gold Market - 1st Sep 14
These Clowns Are Dragging Us Into War with Russia - 1st Sep 14
Marx And The Capitalist Cancer Of Overproduction - 1st Sep 14
Scottish Banks Salivating at the Prospects for an Independent Scotland of 6 Million Debt Slaves - 1st Sep 14
Small Man Europe Is Now In “Effective State Of War” With Russia - 31st Aug 14
The Unintended Blowback Of False Flags - 31st Aug 14
Tesco Supermarket Death Spiral Latest Profits Warning and Dividend Slashed - 31st Aug 14
Dow, Gold and Silver - A Last Stand, A Fake Out And A Surge - 31st Aug 14
If U.S. Consumers are so Confident Why aren't They Spending? - 31st Aug 14
Scotland Independence House Prices Crash, Deflationary Debt Death Spiral - 31st Aug 14
Obama’s “Catastrophic Defeat” in Ukraine - 30th Aug 14
Stock Market Inflection Point Approaching - 30th Aug 14
Gold And Silver - Elite's NWO Losing Traction. Expect More War - 30th Aug 14
Corporations Join Droves of Americans Renouncing US Citizenship - 30th Aug 14
Peter Schiff U.S. Housing Market, House Prices Bubble Warning - 30th Aug 14
Russia, Ukraine War - It’s Time to Play the “Gazprom Card” - 29th Aug 14
The One Tech Stock Investment You Should Never Sell - 29th Aug 14
Bitcoin Price $500 as Current Downside Barrier - 29th Aug 14
Don't Get Ruined by These 10 Popular Stock Market Investment Myths - 29th Aug 14
Low Cost Transcontinental Gold - 29th Aug 14
Gold Bullish Central Banks Should Give Money Directly To The People - Helicopter Janet? - 29th Aug 14
US House Prices Bull Market Over? Trend Forecast Video - 29th Aug 14
The Fed Meeting at Jackson Hole Exposed Yellen’s Greatest Weakness - 29th Aug 14
AAPL Apple Stock About To Get sMACked - 29th Aug 14
A History of Unlimited Money: Learn From It or Repeat Its Mistakes - 29th Aug 14
How You Can Play to Win When Market Makers Are Calling the Shots - 28th Aug 14
EU Gas Supply Is In Real And Imminent Danger - 28th Aug 14
Central Banks at the Root of Evil - 28th Aug 14
European Bond Market: Bubble of all Bubbles! - 28th Aug 14
Employers Aren’t Just Whining: The “Skills Gap” Is Real - 28th Aug 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

The Biggest lie in Stock Market History Revealed

Sequester Holding Americans Hostage

Politics / US Politics Mar 16, 2013 - 06:48 PM GMT

By: Walter_Brasch

Politics Judges who wish to assure that a jury has no outside influence will sequester them.
Legally, a sequestered jury is seized by authority and isolated from all outside influences.

The jurors are escorted into and out of the courtroom. They aren’t allowed to read newspapers, listen to radio news, or watch TV news, ’lest they could be influenced by the media. They are escorted to and from meals, and isolated from other customers. They can’t discuss the case with family or friends. They can’t even go home at the end of the day; they’re housed in hotel rooms.


In the summer of 2011, a bipartisan “super-committee” was supposed to come up with a reasonable budget to eliminate $1.2–$1.5 trillion from the national deficit. The Congressionally-mandated sequester went into effect two weeks ago when Congress couldn’t come up with a better idea about the budget. The draconian cuts across all federal programs was supposed to be enacted only as a last-ditch measure. The concept was that Congress and the Administration would be so fearful of the results of the sequester, which the media and elected officials often called a “poison pill,” they would take the time to thoughtfully work out a proper budget, and the sequester would never happen.

But, the Republicans dug in their heels, refused to compromise, and even continued their vacations the last week before the sequester went into effect.

Republican Speaker John Boehner claims he doesn’t like the sequester, never liked it—although he praised it a year ago—and blames President Obama.

President Obama wanted to restore the tax rates that existed before the Bush tax cuts for those earning more than $250,000, while keeping the tax cuts for everyone else. Under Republican pressure, he eventually raised the limit to $400,000. The President further proposed a budget that would yield $1.1 trillion in spending cuts and $700 billion in increased revenue, primarily from closing federal tax loopholes and deductions that benefitted primarily the nation’s upper class. That proposal already included cutting back the deficit by $600 billion. (For those keeping track, George W. Bush came into office with a $236.2 billion surplus; by the end of his presidency, he left Barack Obama a $500 billion deficit and the worst Recession since the Great Depression of 1929.)

The Republicans, willingly jerked around by their Tea Party base, don’t want the restoration of the tax rates for anyone. Of course, they also don’t want to end billions of dollars of corporate subsidies, paid for through taxes upon the working poor. Until this past week, the Republicans didn’t even have a budget proposal of their own until they dusted off and put new polish on Rep. Paul Ryan’s slightly revised budget proposal from the 2012 campaign. That would be the budget proposal the American people rejected when they gave Barack Obama a resounding second term victory.

The Congressional Budget Office says the sequester could cut more than 750,000 federal jobs. Republicans like that idea, especially since most federal employees are also members of unions. But, those jobs include public health officials, social service workers, teachers, air traffic controllers, and others in critical jobs. Cutting social services appeals to the Republican mind-set, but cutting the number of air traffic controllers alone would cause not just a severe reduction of flights, but significant lost revenue for the airlines. Obviously, the Republicans, the party of corporate America, don’t really care.

And now we learn that the Republican leadership wasn’t honest with their own members, and didn’t tell them of the cuts the President had already agreed to, and the myriad compromises he had already made with the Republican speaker of the house and the Republican senate minority chair to try to avoid the sequester.

It may seem that Congress had no idea what the word “sequester” meant when it created this fiscal disaster. But the reality is that Congress does know. Its actions—or, rather, its failure to act— has left the American people isolated and held hostage by authority. This time, it’s not a judge sequestering a jury, but a Republican-dominated Congress sequestering all of the American people.

[Walter Brasch’s latest book is Before the First Snow, a fact-based novel that looks at the nuclear industry during its critical building boom in the 1970s and 1980s.]

By Walter M Brasch PhD

http://www.walterbrasch.com

Copyright 2013 Walter M Brasch
Walter Brasch is a university journalism professor, syndicated columnist, and author of 17 books. His current books are America's Unpatriotic Acts , The Federal Response to Hurricane Katrina , and Sex and the Single Beer Can: Probing the Media and American Culture . All are available through amazon.com, bn.com, or other bookstores. You may contact Dr. Brasch at walterbrasch@gmail.com

Walter Brasch Archive

© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014