Yoda's World


Poll: Majority of Americans want to end Bush Tax cuts for the rich
Michele Bachmann
Complaints filed with IRS on Hannity and North charity
GOP Unemployed "insignificant"
GOP to President Obama, its our way or nothing at all
Tea Party death threats mimic Muslim Terrorists
Guns at New Mexico teabaggers tea party
Dick Cheney no longer a chickenhawk, now just a chicken
The GOP purity and purge test
Limbaugh the most influential conservative in America
It smells like socialism
Right wing media always giddy when America loses
Glenn Beck: The body on the side of the road
The House on "C" Street
The top 20 Truths about Ronald Reagan
EFCA-Employee Free Choice Act
An Invention that Could Change the Internet for Ever
Sen. Tom Coburn

GOP: the unemployed are insignificant “small amount of people”

By: David Phillips
Las Vegas Democrat Examiner 

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 extension?

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 first.

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, Senate Minority Leader Mitch McConnell (R-KY) and Rep. Eric Cantor (R-VA) are some of those 114 republicans who praised the Obama Stimulus Bill to their local media and at ribbon cuttings.

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 per share.

Revenues 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
Date: 2009-04-03

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 financial stability.

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.

Complete Report

Obama Denies Bailout Funds for Automakers
By: Philip Elliott
Associated Press

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 said.

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.

Complete Story


US Sheds 651,000 Jobs, Unemployment at 8.1 pct

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 since 1983.

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 said.

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 four months.

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 market value.

Complete Story

The Crisis of Credit Visualized

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Smoke Pot, Smoke Pot, Everybody Smoke Pot

Everybody must get stoned

A 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 06, 2009

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 years."

Complete Story

US Claims 52,000 Accounts Hidden by UBS
By Adrian Cox in London, Frances Williams in Bern and Joanna Chung in New York
February 19 2009 22:09

As many as 52,000 American customers hid UBS accounts from the authorities in violation of tax laws, a US government lawsuit against the Swiss bank alleged on Thursday.

The Department of Justice filed a suit seeking to force UBS to disclose the holders of accounts with about $14.8bn in assets.

It alleged UBS, Switzerland’s biggest bank, engaged in cross-border securities transactions in the US that it knew violated security laws and helped US taxpayers set up dummy offshore companies.

Complete Story



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.

Complete Story


Official: Obama Plans to Slash Deficit in Half
By Liz Sidoti, Associated Press
Sun Feb 22, 2009

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 first term.

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.

Complete Story


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