Why are so many republicans so quick to kick a man or women whose down on their luck because they lost
their job? Why do so many republicans find it so easy to target this group by continuously voting against Job Bills and unemployment
Maybe its because demographically the unemployed voter block is small. Maybe that’s why Senator
Tom Coburn (R-OK) in an
interview with The Hill yesterday classified the unemployed as being “the
relatively small amount of people who will be affected by this delay”, referring to the current $9 billion unemployment
extension that he has so proudly said he will block along with all future unemployment extensions because he wants it to be
paid for with money from the Troubled Assets Relief Program (TARP), the $700 Billion that former President Bush used for bailouts
for Wall St.
Senator Coburn said, “The easiest thing in the world is to pass this bill unpaid for, but consider
the millions of Americans whose financial futures would be damaged, versus the relatively small amount of people who will
be affected by this delay," Coburn went on to say, "Now you tell me which vote takes the most courage.”
No Senator, now you tell me which voter needs your help, not your so-called courage. You and your Party
show NO courage when you vote
No on everything, what you do show is your disloyalty to our nation by putting your Party
According to Coburn the “financial futures” of Americans will be in jeopardy if another
$9 billion is spent on an extension, and the money will only affect an insignificant and “relatively small amount of
people” or in GOP political speak, a small block of voters who will most likely not vote.
Senator Tom Coburn’s actions will cause at least 200,000 Americans to have their benefits “interrupted”
this week. Coburn’s fellow republicans have also said they support his action. Surprise, surprise.
Why else would republicans, even those here in Nevada, such as Senator John “ man have I got
ethics problems” Ensign (R-NV) and Rep. Dean Heller (R-NV) vote “No” on every Bill that helps to create
jobs both for Nevada and our nation along with Bills to help the Unemployed and help with COBRA subsidies.
Even the American Recovery and Reinvestment Act, aka the Obama Stimulus Bill, which helped save our
country from financial ruin and prevented another Great Depression, each and every republican voted NO. Then back in their
home States at least 114 Republicans praised the Obama Stimulus Bill for creating jobs and paying for worthy projects in their
districts. But the republican leadership claims that the American Recovery and Reinvestment Act did not create any jobs,
The republicans have said they want to see President Obama Fail, Senator Jim DeMint (R-SC) said that
the Health Care Reform Bill was suppose to be President Obama‘s “Waterloo“. What they don’t say is
that they want to see President Obama Fail, even if that means we have to watch America Fail. And they are doing just that,
watching. Their actions and their words clearly show that they put their Party above you, your family and our country.
Republicans find the unemployed insignificant and merely a “relatively small amount of people’
because they think that that voting block is merely a “relatively small amount of people” so why bother trying
to help them
ExxonMobil profit slumps 66 pct to 3.95 bln dlrs
ExxonMobil said Thursday its
second quarter profit slid 66 percent from a year ago, reflecting a tumble in energy prices from last year's record highs,
to 3.95 billion dollars.
The net earnings also reflected special charges linked to damages paid for the 1989 Exxon Valdez oil spill that
despoiled the Alaskan coast.
Excluding special items, the profit amounted to 81 cents a share, below analyst forecasts for a profit of 1.02 dollars
also fell sharply from a year ago, sliding 46 percent to 74.45 billion dollars, but were better than Wall Street forecasts
of 71.29 billion.
"Global economic conditions continue to impact the energy industry both in the volatility of commodity prices and reduced
demand for products," said chairman Rex Tillerson.
"In spite of these challenges, ExxonMobil achieved solid results. We continued our capital investment
program at near record levels while returning over 16 billion dollars to our shareholders during the first half of the year."
Operational Risk - Financial Stability Forum Re-established as the Financial Stability Board
Author: FSF Staff
As announced in the London Summit declaration issued
yesterday, a broad consensus has emerged towards placing the FSF on stronger institutional ground with an expanded membership
� to strengthen its effectiveness as a mechanism for national authorities, standard setting bodies (SSBs) and international
financial institutions to address vulnerabilities and to develop and implement strong regulatory, supervisory and other policies
in the interest of financial stability.
1. The expanded FSF has been re-established as the Financial Stability Board (FSB) with a broadened mandate to promote
2. The FSB consists of a Chairperson, a Steering Committee, the Plenary with member countries, SSBs and international financial
institutions, and a Secretariat. The Chair oversees the Steering Committee, the Plenary and the Secretariat.
3. The FSB Plenary is the decision making organ of the FSB. The Steering Committee provides operational guidance between
plenary meetings to carry forward the directions of the FSB. A full-time Secretary General and an enlarged Secretariat based
in Basel support the FSB.
WASHINGTON – The White House says neither GM nor Chrysler submitted
acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could
be the final two months of two American auto giants.
President Barack Obama and his top advisers have determined that neither company is viable and that taxpayers will not
spend untold billions more to keep the pair of automakers open forever. In a last-ditch effort, the administration gave each
company a brief deadline to try one last time to convince Washington it is worth saving, said senior administration officials
who spoke on the condition of anonymity to more bluntly discuss the decision.
Obama was set to make the announcement at 11 a.m. Monday in the White House's foyer.
In an interview with CBS' "Face the Nation" broadcast Sunday, Obama said the companies must do more to receive additional
financial aid from the government.
"We think we can have a successful U.S. auto industry. But it's got to be one that's realistically designed to weather
this storm and to emerge — at the other end — much more lean, mean and competitive than it currently is," Obama
Frustrated administration officials said Chrysler cannot function as an independent company under its current plan. They
have given Chrysler a 30-day window to complete a proposed partnership with Italian automaker Fiat SpA, and will offer up
to $6 billion to the companies if they can negotiate a deal before time runs out.
Washington (AFP) - The economy shed 651,000 jobs in February, pushing
the unemployment rate up to 8.1 percent, according to government data Friday highlighting the worst month for the labor market
The number of job losses was in line with most forecasts but underscored the dire state of the economy as companies reduce
their workforce to cope with the deepening slump.
The Labor Department also revised up its estimate for losses for the previous two months -- 655,000 in January from 598,000,
and 681,000 in December from 577,000. The figures showed December's losses as the worst on record since October 1949, officials
The jobless rate rose from 7.6 in January to 8.1 percent in February, the highest since December 1983.
Officials said 4.4 million jobs have been lost since the recession began in December 2007, with 2.6 million in the past
The goods-producing sector shed 276,000 jobs in February while services lost 375,000. Within the goods-producing sector,
manufacturing lost 168,000 jobs.
Among the few sectors showing modest job gains were education and government.
The number of persons who worked part-time for economic reasons in February -- sometimes referred to as involuntary part-time
workers -- rose by 787,000, reaching 8.6 million. This includes people who would like to work full time but were working part
time because their hours had been cut back or because they were unable to find full-time jobs.
The jobs report underscores the challenges facing President Barack Obama's administration in stabilizing a teetering financial
system and pulling the shrinking economy out of a second year of recession.
Based on the most recent government estimate, the US economy contracted at an eye-popping 6.2 percent pace in the fourth
quarter of 2008, and some analysts say the downturn may be even worse in the first quarter of 2009.
Obama Foreclosure Plan to Aid Refinancings If
you haven’t been able to refinance because you lack equity in your home, check out the plan. By
Kenneth R. Harney / The Nation’s Housing | Sunday, March 8,2009 | http://www.bostonherald.com | Real Estate
Key details have begun surfacing about
the extraordinary refinancing deals that President Obama’s foreclosure-prevention plan will offer an estimated 4 million
to 5 million U.S. homeowners.
Obama’s plan aims to help borrowers who are current on their loans, but can’t refinance into today’s
low rates because these homeowners have little or no equity in tbeir properties.
Homeowners generally need 20 percent equity to refinance into cheaper loans. However, many people bought homes with less
than 20 percent down during the housing boom.
Worse, declining property values mean that even those who did make 20 percent down payments often find they no longer meet
the 20 percent rule.
Now, you can still refinance in such cases if you pay for private mortgage insurance (PMI). But it’s tough to get
PMI these days in some parts of the country. PMI firms are reluctant to write policies “declining” markets large
areas that the firms fear could face further home-price declines.
As a result, tens of thousands of Americans are finding that they can’t refinance. Even though mortgage rates are
currently running around 5 percent, these homeowners are stuck with 65 percent mortgage rates or worse.
But under Obama’s plan, government-backed mortgage giants Fannie Mae and Freddie Mac will essentially waive the 20
percent rule on any mortgages they back.
In fact, they’ll even allow homeowners to be slightly “under water,” owing more on a home that its current
new plan to legalize marijuana in California would create a $1 billion tokin' tax and thousands of green jobs. Now that's
a stimulus plan!
By Katharine Mieszkowski
Mar. 03, 2009 |
Can Californians help dig themselves out of their historic fiscal crisis by getting high? Tom Ammiano thinks so, and he isn't smoking a thing.
On Feb. 23, the California State Assembly member introduced legislation that would
regulate the cultivation and sale of marijuana, and then tax it. By legalizing pot, the San Francisco lawmaker argues, the
state could reap huge new revenues. Currently pot is California's biggest cash crop, with annual sales reaching $14 billion.
Vegetables, the state's second hottest agricultural product, take in a mere $5.7 billion. And California's famous grapes?
A piddling $2.6 billion.
If passed, the Marijuana Control, Regulation and Education Act would give California control of pot in a manner similar to alcohol, while prohibiting
its purchase to citizens under age 21. The state's tax collectors estimate the measure would bring in about $1.3 billion in
new revenues a year.
Ammiano, a former schoolteacher and stand-up comedian, has been one of the most famous
activists and politicians in San Francisco for decades. In the late '70s, he jump-started the movement against the Briggs
Initiative, which would have banned gay teachers in California (he appeared as himself in the film "Milk"), served on the
San Francisco Board of Education, and later was president of the San Francisco Board of Supervisors.
The worst recession since World War II? Shaping up that way Kevin G. Hall | McClatchy Newspapers March
WASHINGTON — The government's report Friday of an 8.1 percent
unemployment rate equals the jobless number that the Obama administration has projected for the entire year. Few economists
think that optimistic projection will hold, and many think that more big job losses are likely, with grim implications for
the housing and banking crises.
Employers shed another 651,000 jobs in February, the Labor Department said Friday, pushing the nation's unemployment rate
up from 7.6 percent to 8.1 percent. That's the highest jobless rate in a quarter-century and a clear sign that the deep U.S.
economic recession isn't abating.
The monthly Employment Situation Summary also revised the jobs numbers for December and January downward, for a combined
161,000 more lost jobs than had been reported earlier. This pointed to a steeper economic contraction early this year than
all but the gloomiest forecasters had projected.
Underscoring the rapid pace of decline, the department's Bureau of Labor Statistics reported that payroll employment has
fallen by 2.6 million people in the past four months alone. Over the past 12 months, the number of unemployed has increased
by about 5 million. Some 12.5 million Americans are now jobless.
"This is what falling off a cliff looks like," said Larry Mishel, the president of the liberal Economic Policy Institute.
Mishel looked at trends in the first 14 months of past recessions and concluded that "we've seen the sharpest decline in employment
and the sharpest decline in private sector hours worked — a 5.5 percent decline — than in any recession in 50
Official: Investigator to Lead Stimulus Oversight By: Philip Elliott, Associated Press
WASHINGTON – President Barack Obama plans to announce Monday a
former Secret Service agent who helped expose lobbyists' corruption at the Interior Department as his pick to oversee the
$787 billion economic stimulus plan.
Obama is set to name Earl Devaney as chairman of the new Recovery Act Transparency and Accountability Board, an administration
official said Sunday. Vice President Joe Biden also will be given a role coordinating oversight of stimulus spending.
Official: Obama Plans to Slash Deficit in Half By Liz Sidoti, Associated Press Sun Feb 22,
WASHINGTON – President Barack Obama has committed hundreds of
billions of dollars to help revive the economy and is working on a plan to cut the federal deficit in half by the end of his
Obama will touch on his efforts to restore fiscal discipline at a White House fiscal policy summit on Monday and in an
address to Congress on Tuesday. On Thursday he plans to send at least a summary of his first budget request to Capitol Hill.
The bottom line, said an administration official Saturday, is to halve the federal deficit to $533 billion by the time his
first term ends in 2013. He inherited a deficit of about $1.3 trillion from former President George W. Bush.
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