Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
VR and Gaming Becomes the Metaverse - 7th Dec 21
How to Read Your Smart Meter - Economy 7, Day and Night Rate Readings SMETS2 EDF - 7th Dec 21
For Profit or for Loss: 4 Tips for Selling ASX Shares - 7th Dec 21
INTEL Bargain Teck Stocks Trading at 15.5% Discount Sale - 7th Dec 21
US Bonds Yield Curve is not currently an inflationist’s friend - 7th Dec 21
Omicron COVID Variant-Possible Strong Stock Market INDU & TRAN Rally - 7th Dec 21
The New Tech That Could Take Tesla To $2 Trillion - 7th Dec 21
S&P 500 – Is a 5% Correction Enough? - 6th Dec 21
Global Stock Markets It’s Do-Or-Die Time - 6th Dec 21
Hawks Triumph, Doves Lose, Gold Bulls Cry! - 6th Dec 21
How Stock Investors Can Cash in on President Biden’s new Climate Plan - 6th Dec 21
The Lithium Tech That Could Send The EV Boom Into Overdrive - 6th Dec 21
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Proof That Washington Hates America

Politics / US Politics Apr 29, 2013 - 03:55 PM GMT

By: Money_Morning

Politics

David Zeiler writes: Politics as usual has always been hard on the American people, but with the sequester, Washington has crossed the line this time.

All the sequester craziness has proven that our elected officials are not only inept, selfish, money-squandering bozos - they're also willing to actually inflict harm on the American people for political gain.


Virtually all of the problems created by the sequester, from the flight delays resulting from furloughed air traffic controllers to cancer clinics turning away Medicare patients could easily have been avoided.

But American citizens are suffering because Washington's warring factions - the Democrats and the Republicans - refuse to solve the nation's budget problems unless, like petulant toddlers, they can get their way.

A few Congressman - too few -- have called out their colleagues.

"What we're showing is our incompetence, or our downright disdain for the American public," Sen. Tom Coburn, R-OK, said on the Fox Business program Varney & Co.

How the Sequester Has Needlessly Hurt America
Political sniping over the federal budget is one thing, but much of the sequester - the brainchild of President Barack Obama and approved by members of both parties in Congress - was purposely designed to hurt the American public.

In other words, Washington concocted a law diametrically opposed to their stated mission.

Take the crisis over the nation's furloughed air traffic controllers.

As with all federal agencies affected by the sequester, the law prohibited the Federal Aviation Administration (FAA) from moving money around to avoid such disasters as forcing air traffic controllers to take days off.

Even more astounding is that according to a leaked internal FAA memo, the plan was to make the situation worse by ordering the controllers to take the same days off!

"How cynical, how un-American is that?" Coburn chided in a Senate floor speech.

And just to prove how avoidable the whole thing was, Congress "solved" that problem on Friday by granting the FAA the authority to transfer money from well-funded accounts to the one that pays the controllers' salaries. (President Obama has indicated he will sign it.)

While that fixes the problem of unnecessary flight delays at the nation's airports, it leaves dozens of similar sequestration problems unresolved. Even the FAA fix lasts only until Sept. 30.

Cancer clinics across the country are still turning away thousands of Medicare patients. Other people who work for the federal government are getting furloughed or are at risk of getting laid off. Aid to the poor has been cut back.

Meanwhile, at least one agency dear to the heart of the Obama administration, such as the Centers for Medicare and Medicaid Services - which is working on the implementation of the Affordable Healthcare Act, or Obamacare - have not needed to cut workers' hours or pay.

"So what we have is a contrived situation to make it very painful on the American public rather than live within our means and make the common sense changes," Coburn said on Varney & Co. "I know stupidity and really crass cronyism when I see it, and the fact is this is having real impacts on people's lives when it doesn't need to."

Sequester Brings Out the Worst in Washington
In an effort to force the other side to cave on budget issues, both Republicans and Democrats - but mostly Democrats - have taken every opportunity to twist the sequester into a political bludgeon.

For example, Rep. Steny Hoyer, D-MD, Rep. Xavier Becerra, D-CA, and other Democrats cited the Boston Marathon terror bombings as evidence that the sequester had undermined security.

The comments fit in with a Democratic theme started by the Obama administration warning of the consequences of sequestration in an attempt to strong-arm Republicans into agreeing to a budget deal that would include more tax increases.

Republicans accuse Democrats of having no true interest in spending cuts, and often repeat their ironclad determination to resist any attempt to raise taxes.

So the sequester - and all the pain that it brings -- remains with us.

The tragedy of it all is that Washington could fix this problem if enough elected officials really wanted to.

The few who do are lone voices crying out in a wilderness political insanity.

"We have legislation that we have put forward that would provide flexibility across government so we could find savings, eliminate duplication and waste, make sure that we prioritize so that we still find savings and don't impact the public," Sen. John Hoeven, R-ND told Varney & Co.

Really - that doesn't seem so hard, does it?

Source :http://moneymorning.com/2013/04/26/the-10-secrets-of-successful-investing/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2019 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