Sen. Mike Lee Proposes a Spending Limit Amendment

Long Form Republican Membership Certification

Donald Trump might be the GOP front runner at the moment, but it is likely due more to his celebrity status and his recently trumped (excuse the pun) birther "success", of which he takes full credit than actual political support.  Meanwhile, in the real world, his credentials are being questioned by legitimate politicians, namely Sen. Rand Paul.  Coming off the heels of yesterday's news, Paul has asked to see the long form certificate of Trumps Republican Party membership.  Poking fun at Trump's political flip-flopping is nothing new, but it is coming from the GOP who have let their message be overrun as of late with bad policy and bad spokesmen (or carnival barkers).  Distracted from the debt debt much?

Budget Cut Deception

The Cato Institute released the above video today which puts sheds light on the ridiculous deception game that has been running around Washington and the media under the guise of a budget "cut." Sen. Rand Paul was right when he first pointed out that these "real spending cuts" were nothing more than trivial reductions in spending.

Obama's War on Main Street

President Obama today declared war on "big oil" by asking Congress to remove that industry's numerous tax credits.  These tax credits which benefit the 98% of oil company shareholders who are middle income investors who have their shares tied up through retirement & mutual funds won't do anything to reduce the price of gas at the pump - they are, rather, incentives for that industry to become more accessible and productive.  This is rather a brazen play to the environmental lobby to punish "fat cats" who, in actuality, are most of our seniors who have put their money in stocks.  Obama went on to assert that he supported natural gas, though he seems not to understand that you have to drill for it (something most of these companies are involved in).  The worst part of the whole ploy (a dynamic distraction from the debt debate) is that Speak Boehner ate it up.

Business Tax

Controversy will fly as Congressman Ryan's plan moves on, especially its proposed Medicare reductions.  But something extremely bullish in terms of the markets are the lowered business taxes which could very well launch us right out of this recession.  On the day, stocks are generally up.  The financial world awaits to hear the Fed tomorrow give an unprecedented press conference, attempting to awe us just by show instead of awing us with substance.  Meanwhile, the President does nothing to turn attention to debt ceiling debate.

Distraction Time (Syria)

The White House "reminds" us that its hypocrisy on the Syria/Libya issue is not something that should be worried about, as both situations are generally the same.  We'd like to think that intervention in Syria would be as successful as ours in Libya (haha) - but we'll be content it seems with some frivolous sanctions, being they've had such a storied history of turning the tide in every case of their use.  Regardless, talk of military action in Syria and of stepping up pressure in Libya will probably dominate the news this week as the Obama administration tries to do everything it can to distract from the debate over raising the debt ceiling.  Any talk of a Balanced Budget Amendment would be detrimental to their tax and spend plans...so eloquently read to us last week off the teleprompters.

China Looms

The International Monetary Fund predicts now that China will surpass the United States as the world's economic superpower in 2016, a mere five years away. If you take the IMF at their word, I'd say their number is not too far off, the news is startling.  A few weeks ago, Herman Cain wrongfully asserted that China held 26% of America's debt (it is actually around 8%) but both Mr. Cain and the IMF's numbers are dancing around the issue: that our national debt, the impending national crisis, cannot be ignored for much longer.  Markets have reacted to the news timidly.  People don't know whether now to bank on a financial collapse or to get out of the way for one.