April 2011

If You Want to Decrease the Budget Deficit, Decrease Health Care Costs

Submitted by on

With the never ending pundit pontificating on the budget deficit and how we must cut spending, it seems always the bulls-eye is on the backs of the U.S. middle class, poor and national interest. Yet, even the Wall Street Journal notes health care costs are out of control. In their number of the week, they amplify the U.S. Spends 141% More on Health Care than other nations.

 

Government Shut Down Kabuki Theatre

Submitted by on

The crisis loams, the doors close shut, people dependent on government paychecks whirl like dervishes in panic wondering how they will pay for food and shelter. An hour before the clock strikes twelve, when all turn into pumpkins, a deal is struck to not shut down the government.

A deal has been reached between U.S. President Barack Obama and congressional leaders on a budget plan for the rest of this fiscal year that would avert a government shutdown, a spokesman for Senate Majority Leader Harry Reid said on Friday.

What was thrown to the lobbyists to make it at the last hour? It appears part of the agenda to destroy the Consumer Financial Protection Agency, now known as the Consumer Financial Bureau, was added as a rider to the 2011 budget.

Trust a financial sector lobbyist to bring both sides together. We all know the banks don't want any agency whatsoever trying to enact consumer protections.

Just today Elizabeth Warren said the Republican agenda against the Consumer Financial Bureau was all about benefiting the banks:

Republican lawmakers are doing Wall Street’s bidding by trying to restructure the Consumer Financial Protection Bureau’s funding and leadership, Obama administration adviser Elizabeth Warren said today.

The Crazies versus the Sleepwalkers - Big Budget Showdown

By Michael Collins

netnew.png

The Republican crazies are in a celebrity death match with sleepwalking Democrats. It is a fabricated drama amounting to not much of anything in terms of the nation's well being. The stakes are supposedly the shutdown of the United States government at midnight this Friday. But the most pressing issue isn't discussed on Capitol Hill.

Why can't anyone in a position of power mention the unmentionable? There have been no net new jobs in the United States since 2000. There were 137 million employed citizens that year. There are 139 million employed citizens today. This comes into clear focus when you consider the size of the workforce for 2000 and 2010; 143 million versus 154 million respectively. There are actually fewer jobs in proportion to the workforce.

Isn't this a worthy topic? Shouldn't the story be carried nightly on a major network with a title like: Jobless America, Day 4000

Thar Blows Portugal Straight into the IMF Austerity Plan

Submitted by on

Portugal is asking for a bail out.

Portugal's prime minister said Wednesday his country has asked for financing assistance from the European Union due to its high debts and difficulty raising money on international markets.

The amount is €80 billion, with the Wall Street Journal reporting €90 billion.

Germany is already backing the bail out.

Of course the help will have a catch, that infamous, vague term, austerity. So far this has been an attack on workers, wages and social safety nets.

The U.K., which has cuts social safety nets, workers will contribute £4bn to the Portugal bail out....in order to cut social safety nets, workers and wages.

The Treasury said the UK was not planning to offer bilateral assistance to Portugal in the way that it did to Ireland.

But it confirmed that Britain could be required to provide a loan of up to about £4.4bn – 13.6% of the €37.5bn remaining in the EU "disasters fund" after it was drawn upon by Ireland – as well as 4.5% of any IMF loan.

Earlier in March, Portugal voted against austerity measures and the Portugal prime minister resigned.

Seems the ECB, EU and the infamous IMF are putting together an austerity plan for Portugal which will take 2 to 3 weeks.

Initial weekly unemployment claims for April 2, 2011

Submitted by on

Initial weekly unemployment claims decreased to 382,000 this week and last week was revised up to 395,250. The 4 week moving average dropped to 389,500, but is higher than the 4 week moving average from March 12th. Weekly unemployment claims seem to be hovering right above the job creation point of 375,000 per week now.

 

Ridiculous Budget Games

Submitted by on

The most mean spirited and absurd budget came out today while the Republicans are threatening to shut down the government. Yes, we know politicians, both parties, are all bought and paid for, corrupt as hell, but a government shut down? This affects real people and the real economy, not just federal workers but all of the Americans who rely on them. All federal workers except emergency services go unpaid, but guess who still collects their paycheck? Why the ones who caused it, our President and our lovely Congress.

Pages