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<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:Tahoma;font-weight:bold'>From:</span></font></b><font size=2
face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'> Money Management
Radio [mailto:news@moneymanagementradio.com] <br>
<b><span style='font-weight:bold'>Sent:</span></b> Tuesday, June 26, 2012 12:04
PM<br>
<b><span style='font-weight:bold'>To:</span></b> client perf<br>
<b><span style='font-weight:bold'>Subject:</span></b> [Money Matters
Newsletter] Congress to consider delaying the "automatic" cuts !
Incredible. Update News Flash June 26, 2012</span></font><o:p></o:p></p>
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<h1><span class=issue-title><font size=2 color=black face=Verdana><span
style='font-size:11.0pt;font-family:Verdana;color:black'>Congress to consider
delaying the "automatic" cuts ! Incredible. Update News Flash June
26, 2012</span></font></span><font size=2 color=black face=Verdana><span
style='font-size:11.0pt;font-family:Verdana;color:black'><o:p></o:p></span></font></h1>
<p><em><b><i><u><font size=2 color=black face=Verdana><span style='font-size:
10.0pt;font-family:Verdana;color:black;font-weight:bold'>Marc’s Notes:</span></font></u></i></b></em><font
size=2 color=black face=Verdana><span style='font-size:10.0pt;font-family:
Verdana;color:black'><o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>How do I know our government will never
solve the deficit issue? Remember the Super Committee <u>that had </u>to
reach an agreement on 2 trillion in cuts over 10 years by Thanksgiving 2010?
They couldn’t agree and disbanded. That, we were told, GUARANTEED automatic
spending cuts to take place without exception on January of 2013.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>I’ve have always said these promises mean
nothing. They can change the rules at anytime.<o:p></o:p></span></font></p>
<p><u><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Case in point. Now read the article just out
today:</span></font></u><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'><o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>"Republican and Democratic congressional
leaders are weighing whether to<u> delay automatic federal spending cuts
until March 2013</u>, according to a House aide and industry officials who
were briefed on the discussions. (<em><i><u><font face=Verdana><span
style='font-family:Verdana'>Marc's comments: what the heck does
"automatic" MEAN anyway</span></font></u></i></em>!)<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The $1.2 trillion in automatic spending cuts
over a decade, half of which would affect the Defense Department, are
scheduled to begin in January 2013. At the same time, lawmakers must decide
what to do about income tax cuts and other tax breaks scheduled to expire at
the end of the year.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Leaders in both chambers are discussing
whether to propose a catch-all bill that<u> would delay the automatic cuts,</u>
fund the government through March or later and temporarily extend the George
W. Bush-era tax cuts and other tax laws, said the House aide and industry
officials, who asked to speak on condition of anonymity.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>“It is being seriously considered as one of
the options and there is no doubt about that,” Steve Bell, the senior
director of the Economic Policy Project at the <st1:place w:st="on"><st1:PlaceName
w:st="on">Bipartisan</st1:PlaceName> <st1:PlaceName w:st="on">Policy</st1:PlaceName>
<st1:PlaceType w:st="on">Center</st1:PlaceType></st1:place>, said in an
interview.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The measure would follow a short-term
stopgap spending bill to keep the government operating after the start of the
new fiscal year on Oct. 1, the people said.<o:p></o:p></span></font></p>
<h2><b><font size=5 color=black face=Verdana><span style='font-size:18.0pt;
font-family:Verdana;color:black'>Automatic Cuts<o:p></o:p></span></font></b></h2>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The automatic spending cuts are required by
the 2011 agreement to raise the <st1:country-region w:st="on"><st1:place
w:st="on">U.S.</st1:place></st1:country-region> debt limit. The cuts were
designed to require Congress to find other deficit-reduction proposals to
replace them. Lawmakers so far haven’t agreed on such a plan.<o:p></o:p></span></font></p>
<p><u><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The second measure funding the government
until March or later would include the delay of the automatic spending cuts,</span></font></u><font
size=2 color=black face=Verdana><span style='font-size:10.0pt;font-family:
Verdana;color:black'> according to the congressional aide and industry
officials, who said they weren’t authorized to describe the option publicly.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Senator <a
href="http://topics.bloomberg.com/john-cornyn/">John Cornyn</a>, the Texas
Republican who leads the <a
href="http://topics.bloomberg.com/national-republican-senatorial-committee/">National
Republican Senatorial Committee</a>, said today he’s aware of discussions to
put off so-called fiscal cliff issues until March. He said while he favors
extending tax cuts until March, he would prefer addressing the automatic
spending cuts this year.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>“Sometimes Congress acts when there are no
alternatives,” Cornyn said of the automatic cuts. “I would be reluctant to
leave aside all the incentives to reach decisions sooner rather than later.”<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The Republican-led House passed a bill in
May to avert defense spending cuts and plans to vote in July on a measure to
extend the expiring tax cuts. Neither measure will advance in the
Democratic-controlled Senate. President <a
href="http://topics.bloomberg.com/barack-obama/">Barack Obama</a> opposes
both proposals.<o:p></o:p></span></font></p>
<h2><b><font size=5 color=black face=Verdana><span style='font-size:18.0pt;
font-family:Verdana;color:black'>‘Fiscal Cliff’<o:p></o:p></span></font></b></h2>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>“The House has acted to replace the defense
sequester, which President Obama’s own administration says would be a
disaster for our national security, with sensible spending cuts,” <a
href="http://topics.bloomberg.com/michael-steel/">Michael Steel</a>, a
spokesman for House Speaker <a
href="http://topics.bloomberg.com/john-boehner/">John Boehner</a>, said in an
e-mailed statement. “Next month, we will vote to stop the largest tax hike in
history. The bottom line: We’re leading on the big issues that make up the
fiscal cliff -- and the Democrats who run <st1:State w:st="on"><st1:place
w:st="on">Washington</st1:place></st1:State> are hiding.”<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>A short-term extension of expiring tax rates
would cause problems for an already strained <a
href="http://topics.bloomberg.com/internal-revenue-service/">Internal Revenue
Service</a>, said Mary Burke Baker, a government affairs adviser at K&L
Gates LLP in <st1:State w:st="on"><st1:place w:st="on">Washington</st1:place></st1:State>.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>“It complicates the programming IRS has to
do,” said Baker, a former IRS employee and congressional aide. “It’s
increased cost, both for the IRS and for taxpayers.”<o:p></o:p></span></font></p>
<h2><b><font size=5 color=black face=Verdana><span style='font-size:18.0pt;
font-family:Verdana;color:black'>Short-term Action<o:p></o:p></span></font></b></h2>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Any short-term action would be more
problematic if it also occurs late in the year. In 2010, when Congress didn’t
enact tax-cut extensions until mid-December, the IRS delayed for several
weeks the start of the filing season for taxpayers claiming itemized
deductions.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>The outcome of the November election will
help determine what action Congress may take to avert the automatic budget
and tax changes. The stack of tax-and-spending issues creates the potential
for a deal on fiscal policy, a partisan standoff or a congressional deal that
staves off an immediate crisis by setting up another one in the future."
(end of article).<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'> <o:p></o:p></span></font></p>
<p><em><b><i><u><font size=2 color=black face=Verdana><span style='font-size:
10.0pt;font-family:Verdana;color:black;font-weight:bold'>Marc’s Epilogue:</span></font></u></i></b></em><font
size=2 color=black face=Verdana><span style='font-size:10.0pt;font-family:
Verdana;color:black'><o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Like I said, they will change the rules
anytime. Now the cuts are being considered postponed to become another
political football. Our government is dysfunctional. They are liars. They
will NEVER address serious budget cuts until they blow this whole thing to
hell. Now that they broke the ice on reneging on their promise (again), watch
the spin and the lies and nothing will be done. No cuts. (None that mean
anything anyways).<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>More promises to “fix it sometime in the
future” that will never come. The economy and the politicians are addicted to
debt and will NEVER initiate cuts or control their spending. A hell of
a lot of good 2 trillion in cuts over 10 years will do anyway. We are running
deficits of that EVERY YEAR if you count war costs not to mention Medicare or
Medical which run it many times over that.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>This is going to end VERY badly. Trust me on
this one.<br>
It will be fun watching the lies to come though.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Disgusting.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'>Marc<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Verdana><span style='font-size:10.0pt;
font-family:Verdana;color:black'> <o:p></o:p></span></font></p>
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underwriters or members. All issues regarding this email should be sent to
Marc Cuniberti and/or his agents.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>This article is strictly for informational
purposes only. It is not a solicitation to make any exchange, buy or sell any
precious metal products, commodities, securities, stocks, warrants, options
or other financial instruments. Marc Cuniberti, author of this article, does
not accept culpability for losses and/or damages arising from the use of this
publication or any information contained herein. You are responsible for your
investing. Perform due diligence on any firm you plan to send money to. Mr.
Cuniberti makes no claim as to the validity or soundness of any firm or
institution mentioned herein or on any of his publications or shows.
Investing involves risk. You can lose money. Please order up the prospectus
on any and all securities you may be planning to buy and do your own research
before investing. Mr. Cuniberti may or may not hold the securities listed.
Some companies mentioned or exhibiting advertisements or banners on Money
Management Radio material may offer a consideration for their advertising
space and/or referrals from such promotions.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>If you wish to send Mr. Cuniberti an email,
please keep your emails to less then 3 sentences and do not ask about
specific holdings you may hold nor ask him to comment on YOUR specific
situation. You may submit general market questions or concerns. He answers
EVERY email sent to him within the confines of these rules. Someone will
respond to your email regardless of what it contains so you will know we
received it. We care about your participation in Money Management Radio and
Money Matters.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>If you like what you hear on Money Matters,
check out what else is happening on your community radio station, KVMR, on
Facebook.com. You'll be kept up to date on special programming, events,
discussion opportunities, and lots more. Go to Facebook and type KVMR in the
search bar. You can become a fan of MONEY MATTERS on Facebook by going to:<a
href="http://www.facebook.com/profile.php?ref=name&id=1602502823#/pages/Money">
</a><a href="https://www.facebook.com/KVMRFM"
title="https://www.facebook.com/KVMRFM">https://www.facebook.com/KVMRFM</a><o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>Produced and Hosted by Marc Cuniberti<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>Web Site: <a
href="http://www.moneymanagementradio.com">http://www.moneymanagementradio.com</a><o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'><br>
Money Management Radio and Money Matters is the sole property of Marc
Cuniberti and all rights are reserved.<br>
"Money Matters" and "Your Money Matters" is aired
throughout <st1:place w:st="on">Northern California</st1:place> and the State
Capitol.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>Marc and Money Matters has been featured on
NBC and ABC television and on various news programs and documentaries.<br>
<st1:place w:st="on">Northern California</st1:place>'s # 1
"alternative" economic show.<br>
"Know the Truth and the Truth Shall Set You Free" John 8:32<br>
Carried on bandwidths: 89.5 105.1 95.1 103.7 90.1 91.9 FM Radios throughout <st1:place
w:st="on">Northern California</st1:place> and the State Capitol.<br>
Worldwide on the web at <a href="http://WWW.KVMR.ORG">KVMR,</a> <a
href="http://kzfr.org/" target="_blank" title="KZFR Radio">KZFR</a>,</span></font><font
size=1 color=blue face=Verdana><span style='font-size:7.0pt;font-family:Verdana;
color:blue'> <a href="http://www.kqny.org">KQNY</a></span></font><font
size=1 color=black face=Verdana><span style='font-size:7.0pt;font-family:
Verdana;color:black'>, <a href="http://KFOK.org">KFOK</a> FM RADIO and
affiliated stations.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>His newscasts are available nationally at
PRX: http://www.prx.org/users/133307-marccuniberti<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>Where I buy some of my gold and silver: What
I call “Possession Gold”. See below.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>At this time, email me if you wish to buy
physical gold or silver at <st1:PersonName w:st="on">marc@moneymanagementradio.com</st1:PersonName>.<o:p></o:p></span></font></p>
<p><font size=1 color=black face=Verdana><span style='font-size:7.0pt;
font-family:Verdana;color:black'>Follow <em><b><i><u><font face=Verdana><span
style='font-family:Verdana;font-weight:bold'>Marc Cuniberti</span></font></u></i></b></em>
on <a href="http://www.twitter.com">Twitter</a> for daily Money Matter
updates.<o:p></o:p></span></font></p>
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