Debt and guns are really the only two topics in Washington D.C. this week. The House of Representatives passed a bill that will suspend the debt ceiling until mid-May. It’s has a cute little clause called “No Budget No Pay,” but I think that’s just a side show gimmick. The real deal is the Republicans are throwing a political hot potato over to Harry Reid and the Democrats in the Senate. They are basically saying okay, your turn to come up with a budget, the debt ceiling is off the table for now.
I also think there are some in both parties that know all too well how serious the economic situation really is. According to John Williams at Shadowstats.com, this is Congress’ last chance to fix the budget problems. If nothing is done-again, Williams is predicting some serious negative fallout for the dollar and U.S. markets. I’ll have an in-depth interview on Monday with him. You will not want to miss this.
Senator Diane Feinstein unveiled a new assault weapons ban. She wants to make dozens of guns illegal. It will never get through Congress, but isn’t the timing odd?
The economy is teetering on the precipice of another meltdown, and she wants to take guns away from law abiding citizens. Meanwhile, zero legislation on the state of mental health in this country. Zero investigation on all of these psychotropic drugs pharmaceutical companies are handing out like cough drops, and zero prosecutions on big bankers that have committed trillions of dollars in fraud and crime against the American people. This is a crime spree that is unprecedented in U.S. history.