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Latest Articles: United States News
Cantor tells GOP to 'stop whining' about Boehner debt ceiling plan
Post Date: 2011-07-26 11:55:04 by go65
3 Comments
Majority Leader Eric Cantor (R-Va.) on Tuesday bluntly told House Republicans to stop “grumbling and whining” about Speaker John Boehner’s (R-Ohio) new proposal for a limited debt-limit increase. Cantor made the statement in a closed-door conference meeting, a Republican with knowledge of his remarks told The Hill. Click for Full Text!
Boehner's proposed spending cut for 2012 might be deal-breaker ($6 billion in 2012)
Post Date: 2011-07-26 11:52:08 by go65
1 Comments
Speaker John Boehner’s (R-Ohio) debt-ceiling proposal would cut only $6 billion in discretionary spending for 2012, a figure that could cost him the support of conservatives who want larger reductions. Boehner is meeting with his members Tuesday morning to try to convince the majority of his conference to back his plan when it comes to the floor Wednesday. He would need the support of at least 218 Republicans to pass the plan without any Democratic votes. Click for Full Text!
Dollar, Stocks Slide, Default Risk Rises
Post Date: 2011-07-26 11:45:56 by go65
3 Comments
The dollar slid to a record low versus the Swiss franc, stocks fell and the cost of insuring U.S. debt rose to a 17-month high as President Barack Obama dueled with House Speaker John Boehner over the U.S. debt limit. Cotton and oil led commodities lower. The dollar depreciated against all 16 major peers at 10:18 a.m. in New York and dipped below 80 centimes versus the franc. The Standard & Poor’s 500 Index lost 0.4 percent to 1,331.89 and the Stoxx Europe 600 Index fell 0.8 percent. Credit- defaults swaps on U.S. debt increased one basis point to 57 basis points. Crude oil sank 1 percent to $98.20 a barrel. Click for Full Text!
U.S. Postal Service May Shutter 3,700 Offices
Post Date: 2011-07-26 11:12:50 by Brian S
14 Comments
The U.S. Postal Service, which may run out of money in September, said it may close as many as 3,700, or 12 percent, of its post offices as customers buy more services online and through locations such as grocery stores. For communities without a post office, the USPS will sell stamps and offer services through local retailers, the service said in a statement today before a press conference in Washington. Post offices at New York City’s Port Authority and Roosevelt Island and in Newark, New Jersey, are among those those being considered. The postal service, which reported a loss of $2.6 billion for the quarter ended March 31, is seeking to cut costs as it approaches its $15 billion ...
Sen. Paul Responds To President Obama's Address
Post Date: 2011-07-25 23:27:06 by A K A Stone
2 Comments
WASHINGTON, D.C. - Following President Obama's prime-time national television address this evening, Sen. Rand Paul released the following statement: "The President tonight took to the airwaves to make yet another speech - but has yet to provide a solution to address our current debt crisis, and again insisted on historic tax hikes. The plans proposed by the respective leadership of both chambers of Congress do nothing to defeat our debt, but rather perpetuate it. "Both of the Congressional 'deals' would leave our nation spending more and accruing more debt - at least $7 trillion more over the next 10 years. Real spending cuts - not small reductions in proposed ...
Staff Briefing Notes on Boehner Plan (only $25 billion in cuts in FY12)
Post Date: 2011-07-25 17:45:45 by go65
1 Comments
On background if you would please*, just left the meeting on the Boehner deal. Some highlights: Outlay reduction for FY 12 – $25 billion cut in discretionary spending. Debt limit increase right away – $1 trillion Does not touch Obamacare funding, Medicare or Social Security Includes the McConnell automatic increase without a vote – they tried to sell us on “your boss isn’t actually voting for a debt limit increase” Joint Select Cmte Created – 12 Members, if Commission recs pass on entitlement reform, then Pres gets another debt limit increase Budget Authority in FY 12 is $ 7 billion less than FY 11 in discretionary spending.
Obama’s and Bush’s effects on the deficit in one graph
Post Date: 2011-07-25 17:17:02 by go65
1 Comments
What’s also important, but not evident, on this chart is that Obama’s major expenses were temporary — the stimulus is over now — while Bush’s were, effectively, recurring. The Bush tax cuts didn’t just lower revenue for 10 years. It’s clear now that they lowered it indefinitely, which means this chart is understating their true cost. Similarly, the Medicare drug benefit is costing money on perpetuity, not just for two or three years. And Boehner, Ryan and others voted for these laws and, in some cases, helped to craft and pass them. Click for Full Text!
Obama Backs Reid Debt Plan; Will Address The Nation At 9 P.M.
Post Date: 2011-07-25 16:47:12 by Brian S
4 Comments
President Obama will address the nation tonight at 9 about the debt ceiling debate, hours after his team endorsed the debt reduction plan put up Senate Democratic leader Harry Reid over the one from Republican House Speaker John Boehner."Senator Reid's plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history," said a statement from White House spokesman Jay Carney."The ball is in their court," Carney added.Obama and aides had criticized Boehner's plan because it calls for a short-term increase of ...
Obama could be impeached
Post Date: 2011-07-25 15:48:30 by no gnu taxes
10 Comments
Rep. Steve King (R-Iowa) said Monday that President Barack Obama “would be impeached” if the nation falls into default. “STOP talking about default,” he wrote on Twitter. “The 1st dime of each $1 of revenue services debt. Obama would be impeached if he blocked debt payments. C C & B!” King is among the House Republicans who voted for the so-called “Cut, Cap and Balance” plan that would introduce a constitutional amendment to require a balanced budget. The Senate last week dismissed the House bill. King isn’t the first Republican to suggest that Obama should be impeached over the debt crisis. Rep. Tim Scott (R-S.C.) said earlier this ...
Chimp In Charge: I'd Like 'to Bypass Congress and Change the Rules on My Own'
Post Date: 2011-07-25 14:59:38 by no gnu taxes
1 Comments
President Obama let his frustration over the stalled debt talks seep into an address on Latino issues on Monday, confessing that he’d like to “bypass Congress and change the laws on my own.” He told the National Council of La Raza, “Believe me, the idea of doing things on my own is very tempting. I promise you.” But he told the group meeting at the Marriott Wardman Park Hotel that he has to work with Congress and will continue to fight for what he called a “balanced” plan that does not focus solely on spending cuts but that spreads the sacrifice to the wealthiest Americans as well. La Raza—and activist Latinos elsewhere—are disappointed in the ...
The $1 Billion Armageddon Trade Placed Against the United States Bond Market
Post Date: 2011-07-25 14:39:32 by Capitalist Eric
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Jack Barnes writes : Someone dropped a bomb on the bond market Thursday - a $1 billion Armageddon trade betting the United States will lose its AAA credit rating. In one moment, an invisible trader placed a single trade that moved the most liquid debt market in the world. The massive trade wasn't placed in bonds themselves; it was placed in the futures market. The trade was for block trades of 5,370 10-year Treasury futures executed at 124-03 and 3,100 Treasury bond futures executed at 125-01. The value of the trade was about $850 million dollars. In simple terms, if that was a direct bond buy, no one would be talking about it. However, with the use of futures, you have to have ...
GOP Stumbles Over Surprise Dem Debt Limit Offer
Post Date: 2011-07-25 14:12:22 by go65
13 Comments
Republicans have been tight-lipped so far about Senate Majority Leader Harry Reid's surprise offer of $2.7 trillion in spending cuts -- and no tax revenue -- to raise the debt limit through 2012. There are a few reasons for that. First, as Red State's Erick Erickson subtly pointed out, Republicans were not expecting to wake up to headlines noting that Reid's offering more immediate cuts than House Speaker John Boehner's proposing. Second, because about a trillion of those dollars comes from the expected wind down of military operations in Iraq and Afghanistan -- a source of savings Republicans have recently opposed but, oops, voted for in the House GOP budget. But another ...
The Power Elite, the Police State and Opposing the Authoritarian Trend
Post Date: 2011-07-25 14:06:18 by Capitalist Eric
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Introduction: Dr. Vieira holds four degrees from Harvard: A.B. (Harvard College), A.M. and Ph.D. (Harvard Graduate School of Arts and Sciences), and J.D. (Harvard Law School). For over thirty-six years he has been a practicing attorney, specializing in cases that raise issues of constitutional law. He has presented numerous cases of import before the Supreme Court and written numerous monographs and articles in scholarly journals. His latest scholarly works are Constitutional "Homeland Security" (2007), a proposal to begin the revitalization of the constitutional Militia of the several states; Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution ...
NJ Gov Sued Over Communication With Fox News Head
Post Date: 2011-07-25 12:02:25 by Brian S
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(07-25) 08:41 PDT Trenton, N.J. (AP) -- New Jersey Gov. Chris Christie is being sued over his administration's refusal to release any correspondence between Fox News President Roger Ailes and the governor or his staff. The American Civil Liberties Union of New Jersey filed suit Monday on behalf of a reporter for Gawker Entertainment LLC. It's based on a public records request made by Gawker reporter John Cook in May. Cook sought any correspondence, phone records and calendar entries from Christie's office on the meeting between Christie and Ailes during the summer of 2010. The governor's office has refused to confirm whether the records exist and said that if they did ...
Make Way for the Radical Center (3rd party developing)
Post Date: 2011-07-25 11:56:49 by go65
5 Comments
DID I mention that I’ve signed a pledge — just like those Republican congressmen who have signed written promises to different political enforcers not to raise taxes or permit same-sex marriage? My pledge is to never vote for anyone stupid enough to sign a pledge — thereby abdicating their governing responsibilities in a period of incredibly rapid change and financial stress. Sorry, I’ve signed it. Nothing more I can do. If this kind of idiocy by elected officials sends you into a hair-pulling rage and leaves you wishing that we had more options today than our two-party system is putting forward — for instance, a party that would have offered a grand bargain on the ...
Daily Presidential Tracking Poll (Kenyan McHopeychange now at -21)
Post Date: 2011-07-25 11:11:20 by no gnu taxes
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The Rasmussen Reports daily Presidential Tracking Poll for Monday shows that 23% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-four percent (44%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -21 (see trends). Overall, 44% of voters say they at least somewhat approve of the president's performance. Fifty-five percent (55%) at least somewhat disapprove.
'Yolk' is on debt talkers
Post Date: 2011-07-25 01:17:34 by socalv8
2 Comments
'Humpty' fiasco President Obama's big "eat your peas" debt deal is now looking more like scrambled eggs, as lawmakers appear unable to stop the food fight over raising the debt limit. House Speaker John Boehner (R-Ohio) said yesterday that his last offer of a deal with Obama is still on the table, but added cryptically, "It may be pretty hard to put Humpty Dumpty back together again." White House Chief of Staff Bill Daley, who said Obama won't accept a short-term debt-limit extension, fumed, "We've been at this for a lot longer than six months, and the Congress cannot seem to get its act together in order to do serious budget reform. ...
U.S. Stock Futures Decline After Lawmakers Fail to Reach Debt-Ceiling Deal
Post Date: 2011-07-24 22:44:21 by go65
19 Comments
U.S. stock futures fell, indicating the Standard & Poor’s 500 Index will drop after rallying within 1.4 percent of a three-year high, as President Barack Obama and Congress failed to reach an agreement on raising the federal debt limit, intensifying concern the nation will default. S&P 500 futures expiring in September declined 0.9 percent to 1,328.80 at 9:29 a.m. in Tokyo. Dow Jones Industrial Average futures lost 111 points, or 0.9 percent, to 12,510. Click for Full Text!
9 Wounded In House Party Shooting In Central Florida
Post Date: 2011-07-24 11:29:08 by Skip Intro
1 Comments
APOPKA, Fla. -- A suspect fired several shots from a handgun after fighting erupted among teenagers at a birthday party at a central Florida home, leaving nine people wounded, authorities said Sunday. After the shooting, a suspect left the house party where some 30 teenagers had gathered near Apopka, authorities said, adding a gray SUV carrying that person was stopped afterward and the person was undergoing questioning. Orange County Sheriff's Cpl. Susan Soto, speaking with The Associated Press, said she had no further information on the person and whether charges were expected. She added of the suspect: "He was identified by other witnesses and it is believed he was the only ...
Gunman Kills Self, 5 Others At Texas Roller Rink
Post Date: 2011-07-24 11:27:45 by Skip Intro
0 Comments
GRAND PRAIRIE, Texas -- A gunman opened fire at a child's birthday celebration at a Texas roller rink, killing five people, wounding four others and then killing himself as the private party turned to panic and some fled screaming in their skates, police and witnesses say. Authorities ascribed the gunman's rampage to an apparent domestic dispute and said no young children or rink employees were killed during the shooting that erupted about 7 p.m. at Forum Roller World in Grand Prairie, about 20 miles west of Dallas. Some people at nearby businesses said they watched as adults and children spilled from the rink in horror. "They just looked terrified," Cody Poston, a ...
Casino Shooting Near Seattle Wounds Seven: Police
Post Date: 2011-07-24 11:26:31 by Skip Intro
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AUBURN, Wash. -- Seven people were wounded, at least two critically, when a gunman opened fire at a casino near Seattle, authorities said. Auburn Police Commander Jamie Sidell said the shooting happened at a nightclub inside the Muckleshoot Casino at about 1:30 a.m. PDT Sunday. An armed, 42-year-old Covington-area man entered the club looking for a woman who was possibly his wife or girlfriend, Sidell said. He discovered her with another man and shot them both. The man then fired multiple rounds, hitting five more people, Sidell said. He started to flee the club, but a security officer tackled him. The man was detained and has been arrested, Sidell said. Harborview Medical Center ...
Water Fountain Shows Cool Physics
Post Date: 2011-07-24 11:01:56 by A K A Stone
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Here is a clever water fountain in Japan. What did I notice at first? Look at the spaces that make the letters as they fall. They get bigger. Why? How about we start with a slightly simpler case. Suppose I build a water fountain that just releases two drops of water one after the other. Maybe the the second drop is released from the same point, but 0.2 seconds later. It seems to make sense that the two drops would stay 0.2 seconds apart. And they do. Ok, to illustrate what is going on I have created a quick vpython simulation. Here you can see what that would look like. Click for Full Text!
Teenager accuses Rep. Wu of 'unwanted sexual encounter'
Post Date: 2011-07-24 07:54:11 by CZ82
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Teenager accuses Rep. Wu of 'unwanted sexual encounter' Rick Moran An unidentified young woman who graduated from high school in 2010 has accused Oregon Representative David Wu of making unwanted and aggressive sexual advances toward her last Thanksgiving. Wu, who is in the process of getting a divorce, was the subject of news stories just prior to the election detailing his bizarre and aberrant behavior. Now it appears that his behavior went beyond bizarre and was actually illegal: One person who heard the voice mail described the woman as upset, breathing heavily and "distraught." In the voice mail, the young woman accused Wu of aggressive and unwanted sexual ...
Group: Arsenic found in Mott's apple juice
Post Date: 2011-07-23 23:04:34 by Skip Intro
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Testing by a local consumer group has found elevated levels of arsenic in Mott's apple juice, renewing calls by a food safety group for tighter standards on imported foods. The Rochester-based Empire State Consumer Project arranged for laboratory analysis of five brands each of apple juice and apple sauce, including Wegmans brands. No arsenic was detected in any of the samples except for Mott's juice — but it contained more than five times the level of arsenic allowed in drinking water. Judy Braiman, head of the consumer project, said Mott's, like some other juice makers, uses apple concentrate from China in its products. Arsenic-based pesticides, no longer applied to ...
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