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Latest Articles: United States News
Sales tax collections worst in recent history- NY (in-line with recovery, right?)
Post Date: 2010-03-04 17:57:00 by Nebuchadnezzar
14 Comments
Sales tax collections worst in recent history Advertisement By Tyler Briggs The Evening Tribune Sun Feb 28, 2010, 11:30 AM EST As if there wasn’t enough proof of an aching economy, the Office of the State Comptroller recently issued a report on the sales tax collection for all counties in New York state in 2009, providing even more evidence that the economy is struggling. The report released by State Comptroller Thomas P. DiNapoli compares 2009 to 2008 collections, and found a 5.9 decrease in collections statewide. The news was even worse for Steuben County. According to the report, Steuben generated $39,081,268 in sales tax revenue. This represents about a 6.2 percent decrease ...
The Global Warming "Bible" is Bullshit
Post Date: 2010-03-04 16:42:44 by dont eat that
2 Comments
Economist Richard Tol has been taking another look at everyone's favourite mega-document, the 2007 Intergovernmental Panel on Climate Change (IPCC) report. In guest posts on blogs here and here, he argues that while one section of the report (produced by Working Group 2) "appears to have systematically overstated the negative impacts of climate change," another section (written by Working Group 3) appears to have systematically understated the costs to society associated with emissions reduction. At this juncture it's worth remembering that the IPCC's chairman, Rajendra Pachauri, has repeatedly claimed that the IPCC relies solely on peer-reviewed material to make its ...
John Roberts Stepping Down? 'RadarOnline' Claims Supreme Court Chief Justice Considering Quitting
Post Date: 2010-03-04 13:48:53 by Brian S
4 Comments
Gossip site RadarOnline is reporting that Chief Justice John Roberts is "seriously considering" stepping down from the Supreme Court "for personal reasons". Roberts, a staunch conservative, was appointed by President Bush and has served on the court since 2005. While RadarOnline doesn't give a reason for the possible retirement, Roberts, 55, has suffered two seizures, in 2007 and 1993. Time magazine speculated in 2007 that Roberts may have epilepsy. However, the Supreme Court said after the 2007 seizure that Roberts was "fully recovered" and a neurological evaluation "revealed no cause for concern." Sources told RadarOnline that retirement ...
President Bush is still missed.
Post Date: 2010-03-04 13:27:48 by dont eat that
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President Bush is making a comeback in the minds and hearts of Patriotic Americans. Some political bloggers will spoil the good memories of President Bush with repetitive articles on what he did wrong, instead of celebrating what he did right. Liberal historians will forever paint President Bush as a thuggish, dictatorial and arrogant leader, but we cannot allow that to stand. President Bush had his downfalls, but he also secured our Supreme Court in excellent hands, defended our Nation against Islamo-Fascists and lead America into an economic period of success. American citizens are not missing President Bush for his unpopular policies, but because he was a commanding leader, who was ...
Bush Was Wrong, And Obama Is Right?
Post Date: 2010-03-04 13:14:01 by dont eat that
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To hear President Obama and his fellow Democrats tell it, every problem that America is facing is due to the policies of the Bush administration. It’s only a matter of time until we hear press secretary Robert Gibbs place the blame for record snowfalls and sticking gas pedals on Toyotas on George W’s shoulders. So can someone please explain to me how the Patriot Act, a law that President Obama called a “shoddy piece of legislation”, is suddenly a good thing? Obama has called on Congress to extend three provisions of the Patriot Act that are due to expire at the end of this year. The conditions that President Obama hopes to extend relate to wiretapping, business ...
It's Called DEFLATION Folks
Post Date: 2010-03-04 12:47:40 by Nebuchadnezzar
1 Comments
It's Called DEFLATION Folks Never mind the man behind the curtain, who won't utter the word: The Labor Department reported Thursday that productivity jumped at an annual rate of 6.9 percent in the fourth quarter, even better than an initial estimate of a 6.2 percent growth rate. Unit labor costs fell at a rate of 5.9 percent, a bigger drop than the 4.4 percent decline initially estimated. In the real world this means: * Work harder and get more done. * Get paid less. * Suck it up, don't complain, or you're fired. That's all. And by the way, reduced pay per unit of work spells DEFLATION. Now here's the problem: We have huge public-sector labor unions that ...
Aging boomers face stark economics [or why HRC is a fait acompli]
Post Date: 2010-03-04 12:39:42 by war
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Not so long ago, Michael Blattman lived in the upscale Washington, D.C., suburb of Potomac, Md., earning $225,000 a year as senior vice president for a student loan company. As he reached his 50s, it never really occurred to him that his job wouldn’t last forever. “To be perfectly honest, I didn’t really go there,” he said. “Yeah, there was always a risk. Everything in business is a risk.” In January 2008, Blattman, along with 500 other employees, was laid off by his company. With an $188,000 severance, he wasn’t worried at first. “The barometer was always something like five or six months until you landed something comparable,” he said. ...
Exclusive: RNC Document Mocks Donors, Plays On 'Fear'
Post Date: 2010-03-04 12:35:39 by Brian S
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The Republican National Committee plans to raise money this election cycle through an aggressive campaign capitalizing on “fear” of President Barack Obama and a promise to "save the country from trending toward socialism." The strategy was detailed in a confidential party fundraising presentation, obtained by POLITICO, which also outlines how “ego-driven” wealthy donors can be tapped with offers of access and “tchochkes.” The presentation was delivered by RNC Finance Director Rob Bickhart to top donors and fundraisers at a party retreat in Boca Grande, Florida on February 18, a source at the gathering said. In neat PowerPoint pages, it lifts the ...
Bank of America TARP Warrants Surge 12% on First Day of Trading
Post Date: 2010-03-04 12:31:50 by war
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March 4 (Bloomberg) -- Bank of America Corp. bailout warrants climbed as much as 12 percent in the first day of trading after the U.S. Treasury Department sold the securities in a record-setting auction. The sale grossed $1.57 billion after bids came in higher than some traders estimated, and the Group B warrants climbed 20 cents, or 7.8 percent, to $2.75 at 11:36 a.m. on the New York Stock Exchange. They rose as high as $2.85. The Group A warrants advanced 10 cents, or 1.2 percent, to $8.45. “Most of the guys that I talk to think the warrants were pretty rich at the auction levels, and they have gotten even richer,” said Tim Freeman, head of U.S. equity derivatives sales at ...
Don't Bet on a Recovery
Post Date: 2010-03-04 02:06:46 by Nebuchadnezzar
3 Comments
Dont Bet on a Recovery by Peter Schiff It is astounding how many economists, government officials, and Wall Street strategists construe the current economic conditions as evidence of a bona fide recovery. It is a testament to the power of the rose colored glasses handed out by our nation's leading universities that such a feeling could be widely held despite the clear and present danger that compounds daily. The myopia leads us to enact policies that actually exacerbate our problems. The "remedies" are postponing, perhaps indefinitely, a true recovery. The oracles who have described the nature of this imminent recovery do so based on their conviction that consumer spending ...
Questions and answers on climate change
Post Date: 2010-03-03 23:06:01 by go65
25 Comments
Is there scientific consensus? The 2007 report from the IPCC, a group of scientists from 113 countries who studied the peer-reviewed research, concluded they are 90 percent confident that global warming is caused by humans. Scientific research does not claim anything with absolute certainty, but this is about as close as it gets. The conclusion that humans are causing global warming also is shared by the National Academy of Sciences, the nation's leading scientific advisory body, and similar academies in 18 other countries. The level of confidence has increased over the years as research improved. A 1975 report from the National Academy concluded "we do not have a good ...
UPDATE: IBM eliminates nearly 2,500 jobs across US (900 more lost since Monday)
Post Date: 2010-03-03 20:58:38 by Nebuchadnezzar
2 Comments
IBM eliminates nearly 2,500 jobs across US Text Size: A | A | A Posted: March 03, 2010 - 2:00 AM IBM layoffs in the mid-Hudson numbered into the hundreds Tuesday, and by 9 p.m. the company had eliminated nearly 2,500 U.S. positions. A source with knowledge of the layoffs said the bulk of the cuts would be over by Wednesday. Hardest-hit are IBM facilities in the South and West, according to the source. Unlike previous layoffs, most of the eliminated positions aren't in IBM's Systems and Technology Group, which makes up the biggest bloc of workers in East Fishkill and Poughkeepsie. Instead, employees who help sell and develop IBM's “business solutions” to its clients ...
What can President Urkel learn from Bush's bipartisan successes
Post Date: 2010-03-03 18:27:44 by dont eat that
5 Comments
Team Obama: Bush Snow is Causing Unemployment
Post Date: 2010-03-03 15:29:31 by dont eat that
3 Comments
In fear of an impending bad unemployment number, National Economic Council Director Larry Summers is spinning the possibility heavy snow will bump the unemployment numbers up by over one hundred thousand.
Number Of US Extremist Groups 'Exploded' In 2009: Report
Post Date: 2010-03-03 14:12:35 by Brian S
1 Comments
Glenn Beck, Rep. Michele Bachmann singled out for popularizing militia movement ideasExtremist groups surged in the United States in 2009, with anti-government "Patriot" militias leading the way, says a new report from the Southern Poverty Law Center."The radical right caught fire last year, as broad-based populist anger at political, demographic and economic changes in America ignited an explosion of new extremist groups and activism across the nation," says the report written by Mark Potok.The number of active Patriot groups grew from 149 to 512 during the course of the year, a 244-percent increase, the report states. Militias -- which the SPLC describes as "the ...
Solis Hints Of Recess Appointment For Labor Board
Post Date: 2010-03-03 14:08:05 by Brian S
0 Comments
(03-03) 09:50 PST Orlando, Fla. (AP) -- The Obama administration is hinting at a possible recess appointment for a controversial nominee to the National Labor Relations Board. Labor Secretary Hilda Solis told AFL-CIO officials at their annual meeting Wednesday there will soon be positive news on the long-stalled nomination of union lawyer Craig Becker. Solis then told reporters the unions will be "very pleased" with how the issue is resolved. President Barack Obama upset union leaders when he decided not to appoint Becker during a Congressional recess last month. Union officials now think Obama may act when Congress breaks for Easter. Senate Republicans blocked Becker's ...
New York’s Budget Gap Grows 18% to as Much as $9.65 Billion
Post Date: 2010-03-03 14:07:30 by Nebuchadnezzar
5 Comments
New York’s Budget Gap Grows 18% to as Much as $9.65 Billion By Michael Quint March 2 (Bloomberg) -- New York state’s spending gap has grown 18 percent to as much as $9.65 billion as tax collections fall short of projections made last month, state officials said. The $850 million reduction in tax revenue between now and the end of March 2011 comes as lawmakers grapple with an $8.2 billion deficit projection that the governor and comptroller said was too low because of unrealistic assumptions about other revenue sources. New York, the third-largest U.S. state by population, faces a cash shortage as taxes fell amid the worst economic slump since the 1930s. “What you are ...
California job losses grow (871K lost in 2009 vs initial estimate of 579K)
Post Date: 2010-03-03 14:06:10 by Nebuchadnezzar
4 Comments
California job losses grow By George Avalos Contra Costa Times Posted: 03/01/2010 04:30:00 PM PST California lost far more jobs last year than the state initially reported, according to a new report that provides an early glimpse into statewide employment trends. "The economy was a lot worse than everybody thought," said Howard Roth, chief economist with the state's Department of Finance. "The job market is weaker than we figured." According to an estimate from the state Employment Development Department, California employers shed 871,000 jobs in 2009. If that estimate holds up when final revisions are released this month, California's job losses would be ...
South Carolina May Gut Programs For 26,000 Disabled Residents
Post Date: 2010-03-03 11:48:33 by Brian S
5 Comments
(03-03) 08:24 PST Columbia, S.C. (AP) -- Lawmakers are considering cutting all services for nearly 26,000 people with disabilities as South Carolina tries to plug a $560 million budget hole. Parents say the proposed cuts to day care programs and other services would force them to give up much-needed jobs to stay home and care for their young and adult children. Andrew J. Imparato, chief executive of the American Association of People with Disabilities, said he is hearing horror stories about budget cuts around the country, but South Carolina is the most extreme example. Shutting down everything but federally required residential care is "the most draconian kind of thing I've ...
Here’s a BIG Difference Between Bush and Obama Policy [Full Thread]
Post Date: 2010-03-03 10:10:53 by dont eat that
86 Comments
Under Obama foreign policy, this guy would be still doing this to other people. Here’s a BIG Difference Between Bush and Obama Policy 2010 March 3 by David Forsmark Under Obama foreign policy, this guy would be still doing this to other people. Ryan Mauro replied to my post that it does matter whether Republicans and Democrats are in charge of foreign policy with this fair point: David Forsmark replied to my post about the George W. Obama Administration here, titled “Yes, Ryan, There IS a Difference Between the 2 Parties on National Security.” Just a little clarification: I was comparing the Obama and Bush Administrations, not necessarily both parties, and I ...
Kasman [JPM] Says U.S. Will Benefit From ‘Meaningful Job Growth’
Post Date: 2010-03-03 09:56:28 by war
0 Comments
March 3 (Bloomberg) -- The U.S. economy will benefit from “meaningful job growth in the private sector” over the next few months, said Bruce Kasman, chief economist at JPMorgan Chase & Co. in New York. “We’re pretty close to making a turn here,” Kasman said today in an interview on Bloomberg Radio. “Companies have been increasing the workweek. There is more income being generated.” Still, long term unemployment “is going to be a problem for years to come” following the loss of 8.4 million jobs since the recession started in December 2007, said Kasman, who estimates the unemployment rate rose to 9.9 percent in February from 9.7 percent in ...
Job cuts slow to pre-recession levels
Post Date: 2010-03-03 08:12:00 by go65
2 Comments
NEW YORK (CNNMoney.com) -- The pace of U.S. job cuts slowed last month to the lowest level in 3 1/2 years, according to a report released Wednesday. Outplacement firm Challenger, Gray & Christmas Inc. said that 42,090 job cuts were announced in February, 41% less than January's 71,482 cuts. It was the lowest total since July 2006, when 37,178 cuts were announced. * Facebook * Digg * Twitter * Buzz Up! * Email * Print * Comment on this story Since peaking in January of last year, monthly job cuts have steadily declined, with only a couple of exceptions, Challenger said. February's total is 77% lower than the year-ago period. "Most economists agree that a recovery is ...
Phoenix cuts 520 jobs, still faces $64 million deficit (Napalitano Screwed AZ pretty well)
Post Date: 2010-03-03 01:23:26 by Nebuchadnezzar
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Phoenix cuts 520 jobs, still faces $64 million deficit Reported by: ABC15.com staff Last Update: 3/02 11:08 pm More cuts on the way as city leaders continue work on budget? Phoenix cuts 520 jobs, still faces $64 million deficit Related Links * Massive budget cuts for Phoenix PD may sever public safety * Community speaks out about massive Phoenix budget cuts PHOENIX – After hours of public testimony, the Phoenix City Council has passed a budget that reduces the state deficit to $64 million and eliminates more than 500 jobs. The 7-to-2 vote came with dissent from Councilmembers Peggy Neely and Sal DiCiccio. The reductions include the cutting of 520 jobs. According to the City ...
UPDATE 1-Xerium seeks to restructure debt via bankruptcy
Post Date: 2010-03-03 01:07:48 by Nebuchadnezzar
0 Comments
UPDATE 1-Xerium seeks to restructure debt via bankruptcy Tue Mar 2, 2010 8:14am EST Stocks Xerium Technologies, Inc. XRM.N $0.69 -0.02-2.82% 12:00am PST March 2 (Reuters) - Troubled industrial textiles manufacturer Xerium Technologies Inc (XRM.N) said it began soliciting votes from lenders on a restructuring plan that would cut its debt by $150 million through a prearranged Chapter 11 bankruptcy filing. Under the proposed plan, about $620 million of existing debt would be exchanged for $10 million in cash, $410 million in new term loans maturing in 2015 and about 82.6 percent of the company's common stock, Xerium said. Current shareholders would retain a minority ownership interest ...
Gov. Perry Beats Hutchison in Texas GOP Primary
Post Date: 2010-03-03 01:01:58 by Murron
34 Comments
Gov. Perry Beats Hutchison in Texas GOP Primary By KELLEY SHANNON and JAY ROOT, Associated Press AUSTIN, Texas – Riding a wave of growing anti-Washington anger, Texas Gov. Rick Perry easily dispatched Sen. Kay Bailey Hutchison and a challenger backed by some in the tea party movement Tuesday to once again become the Republican nominee for the state's top office. Speaking shortly after Hutchison called him to concede, Perry continued the attack on the nation's capital that powered him past the state's senior senator, slamming Washington on spending, job losses, the heath care debate and for "trying to impose education standards" on Texas. "From Driftwood, ...
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