Medical News: Half of Americans Projected to Be Obese in 2030 – in Primary Care, Obesity from MedPage Today

Medical News: Half of Americans Projected to Be Obese in 2030 – in Primary Care, Obesity from MedPage Today.

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Dr. Martin Luther King Jr. – One of the Greatest Men in Our History

Photo credit U.S. Department of State

By Patricia L Johnson

He was born on January 15, 1929 in Atlanta, GA as Michael Luther King Jr. and his name was later changed to Martin Luther King, Jr. Dr. King died at the hands of an assassin at the Lorraine Motel in Memphis, TN on April 4, 1968, while in Memphis to lead a protest march.

Dr. King lived an incredible life including meetings with both President John F. Kennedy and President Lyndon B. Johnson, and a brief history of his life may be read at the following:

Dr. King’s power to influence others was enormous, but could really be summed with a couple statements.

(1) In 1951, while attending Crozer Theological Seminary in Pennsylvania he was elected President of his senior class by predominately white students. This was during a period in our history when black people had little or no rights as it wasn’t until May 17, 1954 that the United States Supreme Court ruled on Brown v. Board of Education.

(2) At age 35, he was the youngest man to receive the Nobel Peace Prize.

The formal dedication of Dr. King’s memorial was scheduled to take place on August 28, 2011, which is the anniversary of Dr. King’s “I Have a Dream” speech, but may be delayed due to Hurricane Irene.

Text and audio of Dr. King’s speech may be found at the following link http://www.drmartinlutherkingjr.com/ihaveadream.htm

A virtual tour of the memorial site may be viewed at the following link 

© 2011 Patricia L Johnson

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FRB: Speech–Bernanke, The Near- and Longer-Term Prospects for the U.S. Economy–August 26, 2011

FRB: Speech–Bernanke, The Near- and Longer-Term Prospects for the U.S. Economy–August 26, 2011.

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Medical News: E.Coli Outbreak: Early Plasma Exchange Effective – in Gastroenterology, General Gastroenterology from MedPage Today

Medical News: E.Coli Outbreak: Early Plasma Exchange Effective – in Gastroenterology, General Gastroenterology from MedPage Today.

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Defense Department Prepares in Advance of Hurricane Irene

Defense Department Prepares in Advance of Hurricane Irene.

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Economic Releases – Friday, August 26, 2011

Census of Fatal Occupational Injuries*

Corporate Profits

ECRI Weekly Leading Index
Note: Release time is at 10:30 a.m.

Gross Domestic Product (GDP)

Kansas City Fed Manufacturing Survey
Note: Release time is at 11 a.m.

Monetary Developments in the Euro Area
Note: Release time is at 4 a.m.

University of Michigan Consumer Sentiment
Note: Release time is at 10 a.m.
We cannot provide a link to this proprietary data, but
today’s data will be available soon after the release at
http://news.google.com/ and historic data is available at
http://research.stlouisfed.org/fred2/data/UMCSENT.txt

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Annual and other releases without published, scheduled release dates are issued the following business day

Source: NBER

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Nigeria U.N. office hit by massive bomb – CBS News

Nigeria U.N. office hit by massive bomb – CBS News.

(CBS/AP)  Updated at 7:20 a.m. Eastern.

ABUJA, Nigeria – A car bomb tore through the United Nations’ main office in Nigeria’s capital Friday, flattening one wing of the building and leaving an unknown number of people dead.

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Death Toll Rises in Mexico Casino Fire | News | English

Death Toll Rises in Mexico Casino Fire | News | English.

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FRB: Press Release–Credit quality of large loan commitments improves for second consecutive year–August 25, 2011

FRB: Press Release–Credit quality of large loan commitments improves for second consecutive year–August 25, 2011.

Released by:

  • Board of Governors of the Federal Reserve System
  • Federal Deposit Insurance Corporation
  • Office of the Comptroller of the Currency

The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations (FBOs), and nonbanks improved in 2011 for the second consecutive year, according to the Shared National Credits (SNC) Review for 2011. A loan commitment is the obligation of a lender to make loans or issue letters of credit pursuant to a formal loan agreement.

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EIA – This Week in Petroleum August 24, 2011

The United States: From Ethanol Importer to Ethanol Exporter

After being a significant importer of ethanol in the 2006 through 2008 period, the United States became a significant exporter of ethanol in 2010 and the early part of 2011. As discussed below, the changing direction of ethanol trade flows in recent years has reflected both policy and market factors. Looking forward, Federal and State policies could drive a future in which the United States imports significant volumes of sugarcane ethanol from Brazil at the same time it continues to export corn-based ethanol to Brazil and other countries.

Click following link for full report This Week In Petroleum

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Department of Defense Contracts for August 24, 2011

Contracts for August 24, 2011.

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DOD Report Military and Security Developments Involving the People’s Republic of China 2011

Department of Defense Annual Report to Congress Military and Security Developments Involving the People’s Republic of China 2011

http://www.defense.gov/pubs/pdfs/2011_CMPR_Final.pdf

Requires PDF Viewer http://get.adobe.com/reader/otherversions/

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Unemployment Claims – Will the talking heads even notice?

By Patricia L Johnson

The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report on August 25, 2011 for the week ending August 20, 2011.

The report indicates seasonally adjusted initial claims at 417,000, an increase of 5,000 over the previous week’s revised total of 412,000, with the 4-week moving average increasing 4,000 from 403,500 to 407,500.

The immediate reaction from most of us would be a sign of disappointment that once again there has been an increase in unemployment claims in our country, but was there?

A labor dispute between Communications Workers of America and Verizon Communications resulted in 12,500 initial unemployment claims filed for the week ending 8/13/2011 and at least, an additional 8,500 initial claims filed for the week ending 8/20/2011.

Removing the 21,000 from the totals makes a huge difference because it indicates Unemployment Claims have actually dropped significantly during the two weeks ending 8/13/2011 and 8/20/2011.

Will the media advise the public of the labor dispute, or will they simply criticize the White House as they normally do?

The full report may be read at the following:  http://www.dol.gov/opa/media/press/eta/ui/current.htm

© 2011 Patricia L Johnson

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Economic Releases – Thursday, August 25, 2011

Census of Fatal Occupational Injuries
Note: Release time is at 10 a.m.

Factors Affecting Reserve Balances (H41)
Note: Release time is at 4:30 p.m.

Money Stock Measures (H6)
Note: Release time is at 4:30 p.m.

SSI Annual Statistical Report*

SSI Monthly Statistics*

Social Security Programs Throughout the World: Africa*

Summer Youth Labor Force*

Unemployment Insurance Weekly Claims Report (Initial Claims)

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Annual releases without scheduled release dates are published the next business day.

Source: NBER

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CBO Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from April 2011 Through June 2011

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from April 2011 Through June 2011

The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on reports filed by recipients of ARRA funding that detail the number of jobs funded through their activities. This CBO report fulfills that requirement. It also provides CBO’s estimates of ARRA’s overall impact on employment and economic output in the second quarter of calendar year 2011. Those estimates—which CBO considers more comprehensive than the recipients’ reports—are based on evidence from similar policies enacted in the past and on the results of various economic models.

PDF Viewer http://get.adobe.com/reader/otherversions/

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The 2012 Republican Nominees

By Richard E Walrath

The tribe now running, or may run for the Republican nomination, has missed out on making use of their names.

None of them seem to go together.

For example, there is a Cain, but no Abel.

There are two Ricks, but no Shaw

There is a Michele, but no Ma Bell.

There’s not even a single Jack or Jill or even John.

The closest thing to it is our man Ron.

Pawlenty is gone because there wasn’t Enough

We might have a Sarah, but for sure she’s no Farrah

We do have a Mitt, but he may need a retrofit.

We do have a Jon – could it be that he’s spot-on?

There is a Donald, but no Duck.

There could have been a Huck, but no such luck.

We do have a Newt, but no one seems to give a hoot.

So that only leaves Thaddeus – will he really be the one for us?

© 2011 Richard E Walrath

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Congressional Budget Office – Budget and Economic Outlook: An Update

Congressional Budget Office – Budget and Economic Outlook: An Update.

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Economic Releases – Wednesday, August 24, 2011

Durable Goods Manufacturers

MBA Weekly Mortgage Applications Survey

Mass Layoffs (Monthly)*

Summer Youth Labor Force
Note: Release time is at 10 a.m.

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Annual releases without scheduled release dates are published the next business day.

Source:  NBER

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Official: N. Korea ready to limit weapons tests – USATODAY.com

Official: N. Korea ready to limit weapons tests – USATODAY.com.

MOSCOW (AP) – A spokeswoman for Russia’s president says North Korea is ready to impose a moratorium on tests of weapons of mass destruction.

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BBC News – Israel kills Islamic Jihad leader in Gaza air strike

BBC News – Israel kills Islamic Jihad leader in Gaza air strike.

An Israeli missile hit the car of Ismael al-Ismar, a leader of al-Quds Brigades in the city of Rafah, close to the Egyptian border.

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The Great Divide – Ronald Brownstein – NationalJournal.com

The Great Divide – Ronald Brownstein – NationalJournal.com.

The collision between Jon Huntsman and Rick Perry over climate change and the evolution of human life threatens to widen the central rift in the Republican electoral coalition even as it helps each man sharpen his image in the party’s crowded 2012 presidential field.

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FCC strikes final blow to Fairness Doctrine – Nextgov

FCC strikes final blow to Fairness Doctrine – Nextgov.

The Federal Communications Commission announced on Monday that it will slash 83 media-related rules from the books–including the controversial but defunct Fairness Doctrine–in an effort to clean house by shedding regulations that it no longer enforces.

The Fairness Doctrine required broadcasters to provide equal airtime to opposing views. On the books since 1949, it had not been enforced since 1987.

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Contra Boehner, Business Economists Favor Some Tax Hikes – Jim Tankersley – NationalJournal.com

Contra Boehner, Business Economists Favor Some Tax Hikes – Jim Tankersley – NationalJournal.com.

Want a textbook example of Washington spin at its fiercest? Check out this press release from House Speaker John Boehner’s office this week, proclaiming: “Majority of economists say spending cuts needed to reduce deficit, not tax hikes.”

Punchy headline. Convenient harmony with Republicans’ anti-tax message. Also, not true.

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USGS details on U.S. Earthquakes in CO and VA

Magnitude 5.8 VIRGINIA August 23, 2011

Magnitude 5.3 COLORADO August 23, 2011

Magnitude 4.6 COLORADO August 22, 2011

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Sex assault charges against Strauss-Kahn dropped

Sex assault charges against Strauss-Kahn dropped.

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Obama calls Buffett, Ford CEO for advice – The Hill’s On The Money

Obama calls Buffett, Ford CEO for advice – The Hill’s On The Money.

President Obama on Monday reached out to billionaire investor Warren Buffett and Ford CEO Alan Mulally for advice as he crafts a major jobs plan to be released after Labor Day.

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Economic Releases – Tuesday, August 23, 2011

Mass Layoffs (Monthly)
Note: Release time is at 10 a.m.

New Residential Sales (New Home Sales)
Note: Release time is at 10 a.m.

Richmond Fed Manufacturing Survey
Note: Release time is at 10 a.m.

Richmond Fed Survey of Services and Retail Activity
Note: Release time is at 10 a.m.

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

Source: NBER

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Standard & Poor’s president Deven Sharma leaving S&P

Standard & Poor’s president steps down after historic US debt downgrade
The Guardian
Standard & Poor’s president Deven Sharma is to leave the credit rating firm at the end of the year. The decision follows the credit rating agency’s decision to downgrade US debt. S&P also faces an inquiry by the justice department into its ratings of

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Library of Congress Top Ten Bills – Week of August 21, 2011

Top ten legislative items searched on THOMAS, compiled on 8/21/2011 from weekly usage statistics

Top Ten Bills – Week of August 21, 2011

1. H.R. 4646 [111th] – Debt Free America Act

2. S. 365 [112th] – Budget Control Act of 2011

3. H.R. 1981 [112th] – Protecting Children From Internet Pornographers Act of 2011

4. H.R. 1351 [112th] – United States Postal Service Pension Obligation Recalculation and Restoration Act of 2011

5. H.R. 1380 [112th] – New Alternative Transportation to Give Americans Solutions Act of 2011

6. H.R. 3590 [111th] – Patient Protection and Affordable Care Act

7. H.R. 1473 [112th] – Department of Defense and Full-Year Continuing Appropriations Act, 2011

8. H.R. 2715 [112th] – To provide the Consumer Product Safety Commission with greater authority and discretion in enforcing the consumer product safety laws, and for other purposes

9. H.R. 2480 [112th] – Administrative Conference of the United States Reauthorization Act of 2011

10. H.R. 3200 [111th] – America’s Affordable Health Choices Act of 2009

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Rep. Paul Ryan (R-WI) will not enter 2012 Presidential Race

Ryan to Skip 2012 Presidential Race
Fox News
Wisconsin Rep. Paul Ryan announced Monday that he will not be a participant in the 2012 Republican presidential nominating contest, choosing to run for reelection to the House of Representative, where he currently serves as Budget Committee chairman.

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What’s Next from the Board of Governor’s of the Federal Reserve System

Schedule of upcoming postings to the Board’s website
List of items posted to the Board’s website over the past two weeks

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Prosecutors Expected to Drop Straus-Kahn’s Case

Reports: Prosecutors Expected To Drop Strauss-Kahn’s Assault Case
NY1
The hotel maid accusing former International Monetary Fund Chief Dominique Strauss-Kahn of sexually assaulting her is set to meet with prosecutors today, and they are expected to tell her they are dropping the case. Sources tell the Associated Press

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Huntsman Promotes Himself as Moderate Choice

Huntsman Promotes Himself as Moderate Choice

By Joshua Miller

White House hopeful Jon Huntsman took a combative approach to his first Sunday show interview as a GOP presidential candidate, knocking his opponents while positioning himself as the moderate. Full Story

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Wall Street execs turn back on Obama, give to Romney

Wall Street execs turn back on Obama, give to Romney
By Jake Interrante and Bob Cusack

Dozens of Wall Street executives who supported President Obama in 2008 have donated to Mitt Romney’s presidential campaign this year.

Read the full story here.

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Rebels take Control of Libya, whereabouts of Muammar el-Qaddafi unknown

Libya: Rebels in Control of Tripoli

Rebels in Libya took over the streets of Tripoli and declared an end to the rule of Muammar el-Qaddafi. In the coming hours and days, major questions must be answered, including what kind of transitional government comes next and whether an international peacekeeping force should be sent into the country.

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Economic Releases – Monday, August 22, 2011

Chicago Fed National Activity Index (CFNAI)

Foreign Exchange Rates (H10)
Note: Release time is at 4 p.m.

Selected Interest Rates
Note: Release time is at 4:15 p.m.

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

Source: NBER

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Governor Rick Perry’s 48 percent Jobs Claim only Half True

By Patricia L Johnson

It was during a cameo appearance June 14, 2011 on the Glenn Beck show that Governor Rick Perry claimedSince June 2009, about 48 percent of all the jobs created in America were in Texas”. According to the 2009 Pulitzer Prize winning site PoliticFact, a service of the St. Petersburg Times, Perry’s statement is only ½ true, while the following statement by Rep. Lloyd Doggett (TX) “Twenty-five states have lower unemployment than Texas” which is “tied with Mississippi for more minimum-wage jobs than anywhere in the United States” is completely true. [stated in an ABC TV interview Tuesday, August 11, 2011]
A low state tax rate and limits on lawsuits certainly helped bring companies to Texas. Companies favor low taxes because it increases their bottom line. They also favor limits on lawsuits because that decreases their expenses by reducing what they pay for insurance premiums for lawsuit protection, which once again, increases their bottom line.
What this country does not need however is an abundance of minimum wage jobs that keep employees at, or below, the poverty level.
Since Perry was supposedly basing his statement on a report from the Dallas Federal Reserve, PoliticFact interviewed Pia Orrenius, a senior economist at the Dallas Fed and Pia advised the Texas economy has been roaring since 1990 “Long before Rick Perry” and she listed the following as favorable factors for the excellent economy in this state “the state’s range of natural resources, its energy and high-tech sectors, its booming Gulf ports and its surging trade with Mexico and China”.
Governor Perry has also bragged about balancing the Texas budget “we worked hard, we made tough decisions, we balanced our budget. “Not by raising taxes but by setting priorities and cutting government spending.”
As a former resident of Lone Star State I feel comfortable stating the obvious – the tales the politicians tell can be as big as the state itself and Governor Perry is certainly no exception. The Texas budget was balanced simply because there is a law on the Texas books stating the budget has to be balanced. The cuts that Perry made to balance the budget are certainly worth mentioning however – there were deep cuts to health care, education and prisons, with deferred payments as an added bonus.
All the Governor basically did was cut programs people need and push part of the budget shortfall into next year, but then what else could we possibly expect from another Texas Governor running for the office of President of the United States?
© 2011 Patricia L Johnson
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Shane Bauer and Joshua Fattal Sentenced in Iran to 8 Years in Prison

Near East: Sentencing of Shane Bauer and Joshua Fattal
Sun, 21 Aug 2011 08:30:35 -0500

 

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12 Dead in Plane Crash near Resolute Bay Canada

Plane crash near Resolute Bay kills 12
CBC.ca

A 737 passenger jet crashed Saturday near Resolute Bay, Nunavut, in Canada’s High Arctic, killing 12 people and injuring three others on board. Nunavut RCMP said First Air charter flight 6560 was travelling from Yellowknife

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4 Dead in Pittsburgh Flash Flooding

Posted on Sun, Aug. 21, 2011

Flash floods inundate parts of Pittsburgh

By Michael A. Fuoco, Diana Nelson Jones, and Lillian Thomas

Pittsburgh Post-Gazette

PITTSBURGH – A total of 2.1 inches of rain fell in an hour Friday during the evening rush in Pittsburgh, said Rihaan Gangat, a meteorologist for the National Weather Service. But an earlier storm meant the region was drenched by three to four inches of rain overall, causing flash floods that killed four people.

Pasted from <http://www.philly.com/philly/news/nation_world/128138503.html>

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Joint Statement by United Nations, Russian Federation, United States, and European Union on Israel attacks

Near East: Joint Statement by the Quartet on Attacks in Southern Israel
Sat, 20 Aug 2011 14:24:41 -0500

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Comments/Questions for Speaker of the House John Boeher (R-OH)

From Farmer John

Dear Speaker Boehner and friends,

· Republicans are also unemployed.

· Republicans are also in the middle class.

· Republicans are also poor.

· Republicans are also hurting.

· Republicans also need Health Care.

· Why do Republican politicians dislike Republicans?

· Why do the unemployed, middle class and poor Republicans vote for Republicans?

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Rescuer of Kidnapped 6-year-old Girl comes forward as Undocumented Immigrant

“A man credited with rescuing a 6-year-old girl from an alleged kidnapper came forward Friday to say he is an undocumented immigrant.

Antonio Diaz Chacon, 23, is originally from Chihuahua, Mexico, and has been living illegally in the United States for four years, according to his wife, Martha, who is a U.S. citizen.”

Full Story:  http://www.cnn.com/2011/US/08/19/new.mexico.kidnapping/

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USDA Recall Notice – Friday, August 19, 2011

Vantage Foods, a Lenoir, N.C. establishment is recalling approximately 1,642 pounds of ground beef products that may contain foreign material.

Click link for full story http://www.fsis.usda.gov/Fsis_Recalls/RNR_066_2011/index.asp

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FBI’s Top Ten News Stories for the Week Ending August 19, 2011

http://www.fbi.gov/news/pressrel/press-releases/fbis-top-ten-news-stories-for-the-week-ending-august-19-2011

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Riddle and Rhyme Time for the Republicans

By Richard E Walrath

Who will be the Republican nominee?

NOT Tim Pawlenty!

But will it be the New Jersey baboon?

Or, the Texas buffoon?

Or, a Mormon tycoon?

Who can tell?  Could be Michele.

How about Herman Cain?

And, when will Trump announce again?

But, then, it may be Ron Paul

Who takes it all.

© 2011 Richard E Walrath

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Economic Indicators – Friday, August 19, 2011

ECRI Weekly Leading Index
Note: Release time is at 10:30 a.m.

Monetary Trends
Note: Release time is at 12 p.m.

Regional and State Employment and Unemployment (Monthly)
Note: Release time is at 10 a.m.

Survey of Current Business*

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Annual and other releases without published, scheduled release dates are issued the following business day

Source: NBER

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OMB directs agencies to cut 2013 budgets

By Kellie Lunney

The Obama administration is directing agencies to submit fiscal 2013 budget requests that are at least 10 percent below their current appropriation level.

Citing fiscal pressures and the recently enacted deficit reduction package that raised the debt limit, Office of Management and Budget Director Jacob Lew sent an Aug. 17 memo to agencies instructing them to plan a 2013 budget that is at least 5 percent below their 2011 spending level. Agencies also should identify additional savings that would bring their 2013 budget requests to at least 10 percent below their current enacted appropriation.

Full story: http://www.govexec.com/story_page.cfm?articleid=48572

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From the Department of Justice

Four Individuals Convicted in $4.7 Million Louisiana Medicare Fraud Scheme

Wednesday, August 17, 2011

The owner of a Baton Rouge, La., durable medical equipment (DME) company, a medical doctor and two patient recruiters were each convicted late yesterday for their roles in a $4.7 million Medicare fraud scheme.

READ MORE

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Does the Tea Party owe approximately $378 Million in Interest?

By Patricia L Johnson

The consequences of default on U.S. Government obligations would be so horrific that U.S. law allows the Treasury Department to utilize various methods to avoid default, including suspending investments into the Civil Service Retirement and Disability Fund and eliminating daily reinvestment of the G fund.

Federal law (Sections 8348 and 8438 of U.S. Code Title 5) then requires the Treasury Secretary to reimburse both the G Fund and the Civil Service Retirement Fund once the debt ceiling issued is resolved, including paying back any interest that was lost on the investments.

According to an article in Government Exec, Tom Trabucco, Director of External Affairs for the Board, estimates the interest to be approximately $378 million dollars.

The report on the May 16, 2011 through August 2, 2011 debt limit suspension period will soon be sent to the Federal Retirement Thrift Investment Board.

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Economic Indicators – Thursday, August 18, 2011

Annual Statistical Report on the Social Security Disability Insurance Program*

Consumer Price Index (CPI)

Existing Home Sales
Note: Release time is at 10 a.m.

Factors Affecting Reserve Balances (H41)
Note: Release time is at 4:30 p.m.

International Update (covers recent developments in foreign public & private pensions )*

Leading Indicators from the Conference Board
Note: Release time is at 10 a.m.

Money Stock Measures (H6)
Note: Release time is at 4:30 p.m.

Philadelphia Fed Business Outlook Survey
Note: Release time is at 10 a.m.

Real Earnings

Unemployment Insurance Weekly Claims Report (Initial Claims)

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Unscheduled annual release data issued next day

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Tobacco Giants Sue to Block Graphic Warning Labels

WASHINGTON — Five tobacco companies have filed suit against the U.S. government claiming that government-ordered graphic warning labels on cigarette packs violate their First Amendment rights.

Read full story http://www.medpagetoday.com/PublicHealthPolicy/PublicHealth/28090

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Stop Coddling the Super-Rich by Warren E. Buffet

OP-ED CONTRIBUTOR

Stop Coddling the Super-Rich

By WARREN E. BUFFETT

Published: August 14, 2011

OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched. Read the complete story at the following: http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?src=me&ref=general

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US Oil Rig Count Passes 1,000

On June 24, 2011, the Baker Hughes weekly count of rigs actively drilling for oil in the United States was 1,003, marking the first week since the company began separating oil and natural gas rig counts in 1987 that the 1,000 count threshold for oil-targeted rigs was surpassed. The weekly count increased steadily through the end of July, reaching 1,025 on July 29.

Read more from the EIA http://www.eia.gov/oog/info/twip/twip.asp?src=email

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Economic Indicators – Wednesday August 17, 2011

Euro Area Harmonised Index of Consumer Prices (HICP) statistics

Euro Area Investment Fund Statistics

European Central Bank (ECB) Balance of Payments

MBA Weekly Mortgage Applications Survey

Producer Price Index (PPI)

Senior Loan Officer Opinion Survey*

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

*Note: Annual data without scheduled release dates are released the following day

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Who drew the long straw in the Ames Straw Poll Vote?

By Richard E Walrath and Patricia L Johnson

The Hilton Coliseum parking lot, on the campus of Iowa State University, was the location of the Ames Straw Poll Vote that began at 10:00 am on Saturday, August 13, 2011.

All of the candidates in attendance were allowed to give 15-minute speeches between the hours of noon and 3:30 pm and by 4:00 pm the voting ended with the following results for the nine candidates that were listed on the straw poll ballot, and the one write-in candidate, Rick Perry.

1 Bachman 4,823

2 Paul 4,671

3 Pawlenty 2,293

4 Santorum 1,657

5 Cain 1,456

6 Perry (write-in) 718

7 Romney 567

8 Gingrich 385

9 Huntsman 69

10 McCotter 35

11 Miscellaneous write-ins 218

12 Total Votes Cast …………………………. 16,892

Note: Although the names of Romney, Huntsman and Gingrich appeared on the straw poll ballot, they were not in attendance at the event, which accounts for the low number of votes received.

Candidates purchase space for tents for their speeches where they also provide live music and serve food. Extravagant amounts of money are spent on food, entertainment and transportation for the would-be voters. For example, Ron Paul paid more than $31,000 just for his tent location this year.

The cost for attendance at this event is free, with all food, entertainment and transportation paid for by the candidates, but there is a fee charged for the ticket to vote.

The person voting must present a valid ID, indicating they will be 18 years old on or before November 2012, and a paid ticket to be issued a ballot. The cost of the ballot ticket is $30.00. How do they keep voters from voting more than once? They dip the voters thumbs in ink!

Question – The population of the State of Iowa is approximately 3 million, with 2.3 million of voting age. How many of the votes cast came from people who live in Ames, Iowa?

Question – How many of the voters were under the age of 18 at the time of the vote?

Question – How many people voted for the entertainment rather than for the speeches?

Question – How many people voted for the quality and quantity of food provided at this event rather than on the quality of the speeches?

Question – How many total votes were bought and paid for by the candidates?

Representative Michele Bachmann was the ‘winner’ of the poll, but we can’t imagine why she wouldn’t be. She hosted an air-conditioned tent, provided barbeque, beverages and entertainment by Richie McDonald, Tim Rushlow, Christian artist Charles Billingsley with headline entertainment by renowned country music legend Randy Travis.

The website “Unelected” indicates Representative Michele Bachmann paid out more than $1 million dollars, http://www.unelected.org/how-michele-bachmann-bought-the-ames-straw-poll handed out $180,000 worth of ballot tickets – 6,000 tickets in all while only receiving a little over 4,800 votes which would seem to indicate 1,200 or 25% accepted her gift and then turned around and voted for another candidate. It’s not surprising considering the ‘free’ entertainment wasn’t free after all. It appears Bachmann required prospective voters to register at her tent and vote for her prior to watching the entertainment. http://unelected.org/wp-content/110813_bachmann_rule_465.jpg

17,000 votes out of a potential 2.3 million is less than 0.01 percent [0.007] of the voter base in the State of Iowa and truly meaningless. The fact one candidate bought this election, by purchasing 1/3 of the votes cast, is certainly representative of the type of politicians we have running in this race.

© Richard E Walrath and Patricia L Johnson

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When the Meaning of the Word “Honor” is Disregarded by “The Honorable”

By Patricia L Johnson and Richard E Walrath

The day was set back in 1845 when it was determined by Congress that the election for U.S. President and Vice President would be held on the first Tuesday after the first Monday in November. That means the 2012 election will be held on Tuesday November 6, 2012, roughly 450 days from now or a little less than 1 year and 3 months from now.

Are we, as a country, really prepared to hear the ugliness for another 450 days?

Governor Rick Perry has formally been in the race for the White House for less than 72 hours and already he is suggesting that Federal Reserve Chairman Ben Bernanke’s actions would be considered close to treason, in his opinion, if more quantitative easing were to take place.

At a Monday appearance in Iowa, the Texas governor took aim at Federal Reserve Board Chairman Ben Bernanke for taking actions intended to boost the economy out the worst recession since the Great Depression.

“If this guy prints more money between now and the election, I dunno what y’all would do to him in Iowa but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous in my opinion,” Perry said when asked about his views on the Federal Reserve.

Pasted from <http://www.cbsnews.com/8301-503544_162-20092885-503544.html>

Federal Reserve Chairman Ben Bernanke has kept this country from going into a major depression with the policies he has implemented since the major recession began in 2007. His efforts should be applauded, not criticized. If it wasn’t for Chairman Bernanke most Americans would be standing in soup lines.

The correct form of address for a Governor of the United States is “The Honorable”, just as it is the correct form for certain members of Congress and others. There is nothing ‘honorable’ about certain members of the Republican Party who claim to be Christians, yet fail to understand the meaning of common courtesy and respect.

In the confines of their respective offices they can criticize anyone they choose in private, but nothing gives them the right to criticize the work others are doing in public, especially when they offer no alternatives. Their failure to respect their fellow man shows they are not worthy of being called President of the United States.

If half as much time and effort had been spent by Republican candidates on offering suggestions on creating jobs as has been spent talking about the deficit, we would have more jobs now and less of a deficit.

© 2011 Patricia L Johnson and Richard E Walrath

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Economic Releases – August 16, 2011

Industrial Production and Capacity Utilization (G17)
Note: Release time is at 9:15 a.m.

New Residential Construction (Housing Starts)

Retail E-commerce Sales (Quarterly)
Note: Release time is at 10 a.m.

U.S. Import and Export Price Indexes

Commercial Paper

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Library of Congress – Top Ten Bills – Week of August 14, 2011

Top ten legislative items searched on THOMAS, compiled on 8/14/2011 from weekly usage statistics

Top Ten Bills – Week of August 14, 2011

1. S. 365 [112th] – Budget Control Act of 2011

2. H.R. 4646 [111th] – Debt Free America Act

3. H.R. 1981 [112th] – Protecting Children From Internet Pornographers Act of 2011

4. H.R. 2480 [112th] – Administrative Conference of the United States Reauthorization Act of 2011

5. H.R. 1380 [112th] – New Alternative Transportation to Give Americans Solutions Act of 2011

6. H.R. 1473 [112th] – Department of Defense and Full-Year Continuing Appropriations Act, 2011

7. H.R. 3590 [111th] – Patient Protection and Affordable Care Act

8. H.R. 25 [112th] – Fair Tax Act of 2011

9. H.R. 2715 [112th] – To provide the Consumer Product Safety Commission with greater authority and discretion in enforcing the consumer product safety laws, and for other purposes

10. H.R. 2693 [112th] – Budget Control Act of 2011

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Hijackers Use False Protection Claims to Lure Online Shoppers

The FBI today is warning the public that online vehicle shoppers are being victimized by fraudulent vehicle sales and false claims of vehicle protection programs (VPP). In fraudulent vehicle sales, criminals attempt to sell vehicles they do not own. They create an attractive deal by advertising vehicles for sale at prices below book value. Often the sellers purport they need to sell the vehicle because they are moving for work, to include military deployments.

Full story http://www.fbi.gov/news/pressrel/press-releases/hijackers-use-false-protection-claims-to-lure-online-shoppers?utm_campaign=email-Immediate&utm_medium=email&utm_source=national-press-releases&utm_content=20719

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FBI’s Top Ten News Stories for the Week Ending August 12, 2011

http://www.fbi.gov/news/pressrel/press-releases/fbis-top-ten-news-stories-for-the-week-ending-august-12-2011

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Economic Indicators – August 15, 2011

Empire State Manufacturing Survey

Foreign Exchange Rates (H10)
Note: Release time is at 4 p.m.

Harmonised Competitiveness Indicators for the Euro Area
Note: Release time is at 4 a.m.

Selected Interest Rates
Note: Release time is at 4:15 p.m.

Treasury International Capital (TIC)
Note: Release time is at 9 a.m.

Commercial Paper

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USDA Recall – Possible E. Coli

Kansas Slaughter Firm Recalls Ground Beef Due to Possible E. Coli O157:H7 Adulteration
Fri, 12 Aug 2011 21:08:52 -0500

National Beef Packing Co. LLC, a Dodge City, Kan., establishment, is recalling approximately 60,424 pounds of ground beef products that may be adulterated with E. coli O157:H7.

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USDA Recall – August 12, 2011 – Possible Listeria

Canadian Firm Recalls Bacon Products for Possible Listeria Contamination
Fri, 12 Aug 2011 16:47:11 -0500

Aliments Prince, S.E.C., an establishment from Ontario, Canada, is recalling approximately 380,000 pounds of diced bacon products that may be contaminated with Listeria monocytogenes.

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The One Percent Fix for the U.S. Economy

By Patricia L Johnson

The National Journal article 11 Ways to Jump-Start Economic Growth: Not Increasing the Deficit Edition has a couple of super ideas for jump-starting the economy without spending any money. The first one that caught my eye was the proposal by Representative Connie Mack IV, 14th District, Florida.

Representative Mack suggested a flat one percent, across the board, cut on all expenditures which he claims would balance the budget by 2019.

The primary advantage to this plan is the fact that everyone feels the impact of the knife slicing away at their dollars. The ability of the individual department heads to make their own cuts is extremely attractive. When it comes to budget cutting, there is no one better qualified to make decisions on the cuts than the individuals originally responsible for preparing the budget. They know where the padding is in their particular budget and can make effective cuts without creating major hardships. The one percent across the board cut is also a fair and balanced approach to the problem that has been dividing our country for months.

Another excellent idea was presented by Dennis Kelleher, President and CEO of Better Markets. Mr. Kelleher suggested putting Federal Reserve Chairman Ben Bernanke in charge of job growth and lowering the unemployment rate. According to Kelleher “There was no more creative person in the world when he had to save the financial system in 2008…That’s what we need now to combat the catastrophic unemployment crisis. It is every bit as serious as the crisis we faced in 2008, and it deserves the same massive response”.

I couldn’t agree more, if it wasn’t for Chairman Bernanke most of us would be standing in soup lines right about now. Unfortunately his plate is full so he is probably not a viable option at this time.

Ed Gresser, Director of the Progressive Economy project at Global Works Foundation thought eliminating the debt ceiling was a step in the right direction. Based on what recently transpired with Congress and the debt-ceiling fiasco, and the subsequent downgrade by Standard & Poor’s resulting in a non-stop roller coaster ride for the Dow Jones Industrials, it would be difficult to do anything other than agree with him. The debt ceiling is redundant and should definitely be eliminated.

© 2011 Patricia L Johnson

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Economic Indicators – August 12, 2011

ECRI Weekly Leading Index
Note: Release time is at 10:30 a.m.

Manufacturing and Trade: Inventories and Sales (Business Inventories)
Note: Release time is at 10 a.m.

Multifactor Productivity Trends in Manufacturing*

Philadelphia Fed Survey of Professional Forecasters
Note: Release time is at 10 a.m.

Retail and Food Service Sales (MARTS)
Note: Release time is at 8:45 a.m.

University of Michigan Consumer Sentiment
Note: Release time is at 10 a.m.
A link to this proprietary data cannot be provided, but
today’s data will be available soon after the release at
http://news.google.com/ and historic data is available at
http://research.stlouisfed.org/fred2/data/UMCSENT.txt

Commercial Paper

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Congratulations and Best of Luck to the 12 Members of the Joint Select Committee On Deficit Reduction

Senate Democratic Majority Leader Harry Reid named Senate Democratic Conference Secretary, Sen. Patty Murray as the co-chair, Senator John Kerry, Senate Foreign Relations Committee Chairman and Senator Max Baucus Senate Finance Committee Chairman to the panel.

Speaker of the House John Boehner named Rep. Jeb Hensarling, Chairman of the House Republican Conference, as the co-chair, serving with Energy and Commerce Chairman Rep. Fred Upton and Ways and Means Committee Chairman, Rep. Dave Camp.

Senate Minority Leader Mitch McConnell named Republican Whip Senator Jon Kyl, Senator Pat Toomey and Senator Rob Portman. Senators Toomey and Portman are both tea-party backed freshman Senators and Rob Portman was the former Director of the Office of Management and Budget from May 29, 2006 – June 19, 2007 under President George W. Bush.

House Minority Leader Nancy Pelosi chose House Assistant Democratic Leader, Rep. Jim Clyburn, Democratic Caucus Vice Chair Rep. Xavier Becerra and Rep. Chris Van Hollen, the ranking member of the House Budget Committee.

These 12 members of the U.S. Congress have been given the opportunity to change the direction of our country, let us hope and pray they have the strength and courage to put their own personal feelings aside and do what is best for the entire country, not just what is best for their particular party.

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Economic Releases – August 11, 2011

Factors Affecting Reserve Balances (H41)
Note: Release time is at 4:30 p.m.

Mass Layoffs (Monthly)*

Mass Layoffs (Quarterly)*

Money Stock Measures (H6)
Note: Release time is at 4:30 p.m.

U.S. International Trade in Goods and Services

Unemployment Insurance Weekly Claims Report (Initial Claims)

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

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Economic Releases – August 10, 2011

Euro Area Securities Issues Statistics
Note: Release time is at 4 a.m.

Job Openings and Labor Turnover Survey (JOLTS)
Note: Release time is at 10 a.m.

Long-term Interest Rate Statistics for EU Member States
Note: Release time is at 4 a.m.

MBA Weekly Mortgage Applications Survey

Mass Layoffs (Monthly)
Note: Release time is at 10 a.m.

Monthly Treasury Statement (The Monthly "Budget")
Note: Release time is at 2 p.m.

Monthly Wholesale Trade: Sales and Inventories (MTIS)
Note: Release time is at 10 a.m.

Personal Income for Metropolitan Areas (Annual)*

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

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USDA Recall – August 10, 2011

Michigan Firm Recalls Ground Beef Products Due to Possible E. Coli O157:H7 Contamination
Tue, 09 Aug 2011 21:47:27 -0500

McNees Meats and Wholesale LLC., a North Branch, Mich., establishment is recalling approximately 360 pounds of ground beef product products that may be contaminated with E. coli O157:H7.

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Starting Over with a Super Committee

By Patricia L Johnson

The National Commission on Fiscal Responsibility and Reform was created on February 18, 2010 by President Barack Obama.

Section 2 & 3 outline membership selection of this commission as follows:

Sec. 2. Membership. The Commission shall be composed of 18 members who shall be selected as follows:

(a) six members appointed by the President, not more than four of whom shall be from the same political party;

(b) three members selected by the Majority Leader of the Senate, all of whom shall be current Members of the Senate;

(c) three members selected by the Speaker of the House of Representatives, all of whom shall be current Members of the House of Representatives;

(d) three members selected by the Minority Leader of the Senate, all of whom shall be current Members of the Senate; and

(e) three members selected by the Minority Leader of the House of Representatives, all of whom shall be current Members of the House of Representatives.

Sec. 3. Co-Chairs. From among his appointees, the President shall designate two members, who shall not be of the same political party, to serve as Co-Chairs of the Commission.

Section 4 states the mission of the commission as follows:

Sec. 4. Mission. The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run. Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy. In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.

The Commission released its final report in December 2010 with proposed deficit reductions of nearly $4 trillion dollars for the period of 2012 through 2020.

For some reason the findings of the Simpson-Bowles Commission have been put on the back burner in favor of a 12-member ‘Super Committee”[Joint Select Committee on Deficit Reduction] to be appointed by August 16, 2011. Each of the four Congressional leaders; House Majority Speaker John A. Boehner (R-OH), House Minority Leader Nancy Pelosi (D-CA), Senate Majority Leader Harry A. Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) will appoint three members to serve on the Committee for a total of 12 members, evenly divided along party lines. Their mission is to come up with an $1.2 trillion in spending cuts for fiscal years 2012 through 2021.

Coming up with the cuts won’t be difficult, all they have to do is look at the Simpson-Bowles report for ideas – the difficulty will arise when they try to agree on cuts, or have Members of Congress learned something from the S&P downgrades, and subsequent sell offs in the stock markets?

No matter what changes are made by this new committee, U.S. voters should remember something. In the 28-year period from 1981 through 2008 we had Republican presidents for a period of 20- years and a Democratic president for a period of 8-years. During the 20-years when Republicans were in control of the White House there was only one year we had a budget surplus and that was in 2001 and was a carryover from the Clinton surplus. During each and every one of the other 19 years, the United States had a budget deficit.

I may be going out on a limb here, but it seems to me it would be more beneficial to our country to choose members of this new committee who are not members of the same political party whose line of thinking originally created the deficits.

© 2011 Patricia L Johnson

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Today is the Day! Will Republicans retain Control of Wisconsin Senate?

Wisconsin law dictates an elected official may only be recalled if they have already served one year of their term, which is why Wisconsin Governor Scott Walker has not yet been recalled, he did not assume office until January 3, 2011. It appears groups are planning his recall in 2012.

In the interim time will tell what happens to the following members of the Wisconsin Senate.

· District 32 General: Recalled Republican Senator Dan Kapanke vs. Rep. Jennifer Shilling

  • District 14 General: Recalled Republican Senator Luther Olsen vs. Rep. Fred Clark
  • District 18 General: Recalled Republican Senator Randy Hopper vs. Jessica King
  • District 10 General: Recalled Republican Senator Sheila Harsdorf vs. Shelly Moore
  • District 8 General: Recalled Republican Senator Alberta Darling vs. Rep. Sandy Pasch
  • District 2 General: Recalled Republican Senator Robert Cowles vs. Nancy Nusbaum
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Former VA Employee Sentenced for Identity Theft of Disabled Vets

FOR IMMEDIATE RELEASE:

MONDAY – August 8, 2011

FORMER VA EMPLOYEE SENTENCED IN IDENTITY THEFT CASE

WILMINGTON– United States Attorney Thomas G. Walker announced that in federal court on August 5, 2011, Senior United State District Judge James C. Fox, sentenced MICHAEL RAY WOODS,48, of Fayetteville, North Carolina to 132 months’ imprisonment followed by three years’ supervised release. The Court also imposed restitution in the amount of $464,000.00.

On February 8, 2011, following a four-day trial, a jury convicted WOODS of 12 counts of preparing false tax returns, 10 counts of wire fraud, 9 counts of identity theft and 1 count of aggravated identity theft.

Click following link to read full release http://www.justice.gov/usao/nce/press/2011-aug-08_03.html

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Economic Releases for August 9, 2011

Federal Open Market Committee (FOMC) Statement
Note: Release time is at 2:15 p.m.

Personal Income for Metropolitan Areas (Annual)
Note: Release time is at 9 a.m.

Productivity and Costs (Quarterly)

Commercial Paper

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Federal Appeals Court won’t dismiss Rumsfield from torture lawsuit

UPI.com

A federal appeals court in Chicago ruled 2-1 Monday not to remove former US Defense Secretary Donald Rumsfeld as a defendant in a torture lawsuit. UPI/Roger L. Wollenberg CHICAGO, Aug. 8 (UPI) — A federal appeals court in Chicago ruled 2-1 Monday not … full story http://www.upi.com/Top_News/US/2011/08/08/Court-wont-dismiss-Rumsfeld-from-suit/UPI-20531312835023/

Court Ruling http://www.lawfareblog.com/wp-content/uploads/2011/08/A90TI9XZ.pdf

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Answers to Frequently Asked Questions regarding recession, recovery and GDP

From The U.S. Bureau of Economic Analysis

How did the recent GDP revisions change the picture of the 2007–2009 recession and the recovery?

Why has the initial estimate of real GDP for the fourth quarter of 2008 been revised down so much?

How reliable are BEA’s early GDP estimates and revisions?

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On This Day in History – August 8

1974: Nixon resigns

In an evening televised address, President Richard M. Nixon announces his intention to become the first president in American history to resign. With impeachment proceedings underway against him for his involvement in the Watergate affair, Nixon was finally bowing to pressure from the public and Congress to leave the White House. “By taking this action,” he said in a solemn address from the Oval Office, “I hope that I will have hastened the start of the process of healing which is so desperately needed in America.” Read further http://www.history.com/this-day-in-history

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Economic Releases for August 8, 2011

Employment Trends Index (Conference Board)
Note: Release time is at 10 a.m.

Foreign Exchange Rates (H10)
Note: Release time is at 4 p.m.

Selected Interest Rates
Note: Release time is at 4:15 p.m.

Commercial Paper

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The Congressional Blackmail Backlash

By Patricia L Johnson

It’s not like they didn’t know the consequences, they knew.

As we all know, appropriation bills begin in the U.S. House and each and every member of the 112th Congress received a copy of the letter written by Secretary of the Treasury, Timothy F. Geithner regarding the statutory debt limit. His letter was written January 6, 2011, yet it took the ‘hell no’ Republican controlled U.S. House almost a full seven months to send a bill to the U.S. Senate. Did the Secretary of the Treasury leave it at one letter? No, he wrote one letter after another to members of Congress during the seven month period.

Had the Republicans simply increased the Debt Limit of the United States as has historically been done each and every time the debt limit in this country has been reached, our debt ceiling would not have been a worldwide topic of conversation, and our rating would probably not have been decreased by Standard and Poor’s. Members of Congress could have spent the balance of their terms in office arguing about what cuts could or should be made, yet they chose to use nothing less than blackmail to achieve their goal.

The full faith and credit of the United States was allowed to be left in the hands of those who have no apparent concept of the can of worms they opened with their lackadaisical attitude toward the debt limit.

The final deal that came out of Congress calls for a $917 billion decrease to the federal debt during the 10-year period from 2012 through 2021, if “appropriations are equal to the caps on discretionary spending and the maximum amount of funding is provided for the program integrity initiatives” according to the Congressional Budget Office.

The  Republicans have caused a situation in this country that has never happened before in the history of the country. Our credit worthiness was downgraded by Standard and Poor’s on August 5, 2011 from AAA to AA+. What does it mean to you?

First, if the interest rate is increased on our debt by a mere 1%, the $917 billion decrease that was fought tooth and nail for, becomes a moot point because the decrease will be overshadowed by increased interest payments over that same 10-year period. That’s a loss for the country. Some money managers only invest in AAA securities which now leaves the United States out in the cold. That’s a loss for the country. It does not make any difference that the downgrade was based on some erroneous figures, the harm has already been done.

The following is from the statement Standard and Poor’s made when it downgraded our credit rating “The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. “The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge.” It’s bad enough we know how dysfunctional the 112th Congress is, now the entire world knows.

When Standard and Poor’s affirmed its AAA rating to AAA/Negative/A-1+ on April 18, 2011, the negative A-1+ represented a negative revision on its ‘outlook’ for the U.S., that should have been the key to the U.S. House to get off its duff and get the debt limit raised, but no – the party of “no” had its own agenda.

Secretary of the Treasury, Timothy F. Geithner practically begged Congress to increase the debt limit well before the August 2, 2011 deadline, yet the Republicans screwed around month after month and has all of us in the position where we are going to suffer financially because of their apparent ignorance on the subject of economics.

Treasuries represent the benchmark borrowing rate for all other sectors and an increase in the borrowing rate for U.S. Treasuries is going to raise interest rates everywhere else. State and Local governments, businesses and consumers are all going to be paying more to borrow money. Home interest rates will rise, credit card rates will rise, car loan rates will rise, etc., etc., etc.

How much will the $917 billion in deficit savings, cost the rest of us over the next 10 years?

© 2011 Patricia L Johnson

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Unprecedented tragedy devastates NSW community

Unprecedented tragedy devastates NSW community

‘It’s the worst day in our history by a mile’

By Sean D. Naylor – Staff writer

Posted : Saturday Aug 6, 2011 18:44:31 EDT

The naval special warfare community was reeling in what one member called “shock and disbelief” Saturday after 22 of its own died in a helicopter crash in Afghanistan that also killed eight other U.S. service members, a civilian interpreter and seven Afghan soldiers.

The CH-47 Chinook crash, which occurred during a raid in Wardak province, is believed to be the biggest single loss ever suffered by the NSW community or in the 24-year history of U.S. Special Operations Command.

Read full story http://www.navytimes.com/news/2011/08/navy-special-warfare-community-in-shock-and-disbelief-080611/

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USDA Recall Notice – August 5, 2011

Recall Notification Report 061-2011
Fri, 05 Aug 2011 16:48:50 -0500

AdvancePierre Foods, Inc., an Orange City, Iowa, establishment, is recalling approximately 10,668 pounds of beef patty products that may contain foreign materials.

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Standard and Poor’s Long Term Rating

Joint Press Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency

For immediate release

August 5, 2011

Agencies Issue Guidance on Federal Debt

Earlier today, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA+. With regard to this action, the federal banking agencies are providing the following guidance to banks, savings associations, credit unions, and bank and savings and loan holding companies (collectively, banking organizations).

For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected.

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Recent NY Times Poll Shows 82 Percent of Americans Disapprove

The debate over raising the debt ceiling, which brought the nation to the brink of default, has sent disapproval of Congress to its highest level on record and left most Americans saying that creating jobs should now take priority over cutting spending, according to the latest New York Times/CBS News Poll. Click following link to read full story http://www.nytimes.com/2011/08/05/us/politics/05poll.html?nl=us&emc=politicsemailema1

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Economic Releases August 5, 2011

Consumer Credit (G19)
Note: Release time is at 3 p.m.

ECRI Weekly Leading Index
Note: Release time is at 10:30 a.m.

Employment Situation (Includes Nonfarm Payrolls, Unemployment Rate, Average Workweek, and Hourly Earnings)

Commercial Paper

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Economic Releases August 4, 2011

Economic releases scheduled for August 4, 2011

Factors Affecting Reserve Balances (H41)
Note: Release time is at 4:30 p.m.

Money Stock Measures (H6)
Note: Release time is at 4:30 p.m.

Social Security Bulletin*

Unemployment Insurance Weekly Claims Report (Initial Claims)

Commercial Paper

Economic and Financial Indicators (updated daily)

Federal Reserve Board (updated daily)

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Pentagon Says More Budget Cuts Mean Furloughs

A senior Pentagon official warned Wednesday that the Defense Department might have to furlough or even lay off “thousands” of civilian employees, and endure major disruptions to its weapons programs, if congressional lawmakers can’t avert a potential $500 billion budget cut.
Full Story

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USDA Recall – Ground Turkey

Arkansas Firm Recalls Ground Turkey Products Due to Possible Salmonella Contamination
Wed, 03 Aug 2011 19:48:43 -0500

Cargill Meat Solutions Corporation, a Springdale, Ark. establishment, is recalling approximately 36 million pounds of ground turkey products that may be contaminated with a multi-drug resistant strain of Salmonella Heidelberg, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

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AND SO IT BEGAN…

By Patricia L Johnson

Following is a brief history of how Operation Desert Shield began from the History Channel. What’s interesting to note is the fact Iraq invaded Kuwait on August 2, 1990 and Operation Desert Shield was begun five days later August 7, 1990, when F-15 Eagle fighters from Langley Air Force Base in Virginia arrived in Saudi Arabia. The first U.S. death from this mission was on August 12, 1990. Department of Defense statistics

On August 2, 1990 President George H.W. Bush issued Executive Order 12722 declaring a National Emergency [emergency to address the threat to the national security and foreign policy of the United States posed by the invasion of Kuwait by Iraq]. On August 22, 1990 President Bush issued Executive Order 12727 to call up selected reservists and their tour of duty was extended by President Bush on November 12, 1990 by Executive Order 12733.

By November 29, 1990 the U.N. Security Council passed a resolution authorizing the use of force against Iraq if Saddam Hussein did not withdraw his forces from Kuwait by January 15, 1991. Iraqi forces were not withdraw and on January 16, 1991 Operation Desert Storm began against Iraq. By the time it was all over 18, 466 missions has been flown [through June 7, 1991] transporting 509,129 passengers and 594,730 tons of cargo.

On February 28, 1991 President George H.W. Bush declared a ceasefire, but the damage had already been done.

Operation Desert Shield/Desert Storm produced a total of 293 U.S. deaths 148 during combat, with another 145 noncombat deaths. 15 women were included in U.S. casualties. In addition there were 467 U.S. wounded in action.

Also lost were a total of 63 aircraft. 37 fixed wing, during combat missions and 15 in noncombat missions. 23 helicopters were lost, 5 during combat missions and 18 during noncombat missions.

If the President of the United States declared a “National Emergency” each and every time one country invaded another, this country would never know the meaning of the word peace. The difference between Iraq invading Kuwait and other countries invading their neighbors is the amount of known world oil reserves. Iraq and Kuwait together represent roughly 20 percent.

Here it is twenty years later and we are still in Iraq. How many U.S. soldiers will die, and how many U.S. tax dollars will be spent, before we finally get our troops out of a country whose only real fault is controlling a substantial amount of oil?

© 2011 Patricia L Johnson

http://www.history.com/this-day-in-history

Aug 2, 1990:

Iraq invades Kuwait

“At about 2 a.m. local time, Iraqi forces invade Kuwait, Iraq’s tiny, oil-rich neighbor. Kuwait’s defense forces were rapidly overwhelmed, and those that were not destroyed retreated to Saudi Arabia. The emir of Kuwait, his family, and other government leaders fled to Saudi Arabia, and within hours Kuwait City had been captured and the Iraqis had established a provincial government. By annexing Kuwait, Iraq gained control of 20 percent of the world’s oil reserves and, for the first time, a substantial coastline on the Persian Gulf. The same day, the United Nations Security Council unanimously denounced the invasion and demanded Iraq’s immediate withdrawal from Kuwait. On August 6, the Security Council imposed a worldwide ban on trade with Iraq. Click link to read full story http://www.history.com/this-day-in-history

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Library of Congress Congressional Record – Sunday, July 31, 2011

Sunday, July 31, 2011

Daily Digest

[Page: D880]  GPO's PDF

Senate

Chamber Action

Routine Proceedings, pagesS5147-S5154

House Messages:

Debt Limit Increase Bill–Agreement : Senate continued consideration of the amendment of the House of Representatives to S. 627, to establish the Commission on Freedom of Information Act Processing Delays, taking action on the following motions and amendments proposed thereto:

Pages S5148-54 

Pending:
Reid motion to concur in the amendment of the House of Representatives to the bill, with Reid Amendment No. 589, to cut spending, maintain existing commitments, and for other purposes.

Page S5148 

Reid Amendment No. 590 (to Amendment No. 589), to change the enactment date.

Page S5148 

Reid motion to refer the message of the House on the bill to the Committee on the Budget, with instructions, Reid Amendment No. 591, to change the enactment date.

Page S5148 

Reid Amendment No. 592 (to the instructions (Amendment No. 591) on the motion to refer), of a perfecting nature.

Page S5148 

Reid Amendment No. 593 (to Amendment No. 592), of a perfecting nature.

Page S5148 

During consideration of this measure today, Senate also took the following action:
By 50 yeas to 49 nays (Vote No. 122), three-fifths of those Senators duly chosen and sworn, not having voted in the affirmative, Senate rejected the motion to close further debate on the Reid motion to concur in the amendment of the House of Representatives to the bill, with Reid Amendment No. 589, to cut spending, maintain existing commitments, and for other purposes.

Page S5153 

Subsequently, Senator Reid entered a motion to reconsider the vote by which cloture was not invoked on the Reid motion to concur in the amendment of the House of Representatives to the bill, with Reid Amendment No. 589.

Page S5153 

A unanimous-consent-time agreement was reached providing further consideration of the motion to concur in the amendment of the House of Representatives to the bill, with Reid Amendment No. 589, at approximately 10:30 a.m., on Monday, August 1, 2011; and that the Senate recess from 11 a.m. until 12:30 p.m.; provided further, that 12:30 p.m., Senate resume consideration of the motion to concur with respect to the House Message to S. 627, with the time until 2 p.m. equally divided and controlled between the two Leaders, or their designees, with Senators permitted to speak for up to 10 minutes each.

Page S5154 

Additional Cosponsors:

Page S5154 

Record Votes: One record vote was taken today. (Total–122)

Page S5153 

Adjournment: Senate convened at 12 p.m. and adjourned at 8:36 p.m., until 10:30 a.m. on Monday, August 1, 2011. (For Senate’s program, see the remarks of the Majority Leader in today’s Record on page S5154.)

Committee Meetings

(Committees not listed did not meet)
No committee meetings were held.

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House of Representatives

Chamber Action

Public Bills and Resolutions Introduced: There were no Public Bills or Resolutions introduced in today’s Record.

Reports Filed: There were no reports filed today.

Recess: The House recessed at 1:02 p.m. and reconvened at 1:36 p.m.

Page H5813

Meeting Hour: Agreed that when the House adjourns today, it adjourn to meet at 10 a.m. tomorrow, August 1st for morning hour debate and 12 noon for legislative business.

Page H5813

Quorum Calls–Votes: There were no Yea and Nay votes, and there were no Recorded votes. There were no quorum calls.

Adjournment: The House met at 1 p.m. and adjourned at 1:37 p.m.

Committee Meetings

No hearings were held.

Joint Meetings

No joint committee meetings were held.

COMMITTEE MEETINGS FOR MONDAY,

AUGUST 1, 2011

(Committee meetings are open unless otherwise indicated)

Senate

No meetings/hearings scheduled.

House

Committee on the Judiciary,Full Committee, continue markup of the following: H.R. 1433, the “Private Property Rights Protection Act of 2011”; H.R. 83, the “Bullying Prevention and Intervention Act of 2011”; and H.R. 2189, the “Death in Custody Reporting Act of 2011”. 9:30 a.m., 2141 Rayburn.

[Page: D882]  GPO's PDF

Next Meetingof the

SENATE

10:30 a.m., Monday, August 1

Senate Chamber

Program for Monday: Senate will continue consideration of the motion to concur in the amendment of the House of Representatives toS. 627, Debt Limit Increase Bill, with Reid Amendment No. 589, to cut spending, maintain existing commitments, and for other purposes.
(Senate will recess from 11 a.m. until 12:30 p.m. for a Democratic caucus meeting.)

Next Meetingof the

HOUSE OF REPRESENTATIVES

10 a.m., Monday, August 1

House Chamber

Program for Monday: To be announced.

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July 30, 2011 – Happy Birthday Medicare!

By Richard E Walrath and Patricia L Johnson

Today is the anniversary of Medicare born on July 30, 1965. The year, 19 and 65 may have been a coincidence because it was not available to anyone until age 65. LBJ, our president at that time, deserves most of the credit for getting Medicare passed by both houses and signed into law on this date in 1965.

The signing took place at the Truman Library in Independence, Missouri, and former President Harry S. Truman was enrolled as Medicare’s first beneficiary receiving the very first Medicare card issued.

Medicare has been a major issue in the fight for an increase in the debt ceiling with President Obama and the Democrats demanding few changes, at this time to the program, while the Republicans have demanded major cuts in this program as well as other ‘entitlement’ programs. You will hear tales that Medicare is draining our country of resources, which is not quite accurate. Medicare Prescription Drug, Improvement and Modernization Act of 2003 (MMA) was signed into law by President George W. Bush on December 8, 2003 and went into effect January 1, 2006.

The bill was not a gift to the elderly in this country, it was a red-ribbon-tied gift to the pharmaceutical companies in the form of guaranteed increases in their profits. Any doubters may review the 60 Minutes report on drug lobbyists and the Medical Part D bill, as well as the bottom line of the pharmaceutical companies since enactment of this bill.

Why? When Medicare Part D benefits were enacted there was no provision in the bill for the Department of Health and Human Services to negotiate the price of drugs paid for under Medicare with the pharmaceutical companies; therefore the drug companies could charge the U.S. government whatever amount they wanted.

You’ll often hear claims that President Obama was given a blank check – the real blank check was provided to the pharmaceutical companies.

By this time it was hoped that Medicare would become universal health care, Medicare for All. After all we’ve had Medicare for almost 50 years now. The Patient Protection and Affordable Care Act, Public Law 111-148 was signed into law on March 23, 2010 and the Health Care and Education and Reconciliation Act of 2010, Public Law 111-152 was signed into law on March 30, 2010, but we are still a long way from universal health care. In fact there are now definite attempts in Congress to repeal these laws.

Let us hope these efforts fail and that by the time Medicare is 50 years old, they are part of a program known as Medicare for All.

Click the following link to read the history of Medicare commissioned by the Social Security Administration in 1969.

© Richard E Walrath and Patricia L Johnson

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CBO COMPARISON OF UPDATED BUDGET CONTROL ACT PROPOSALS

Source: CBO

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BREAKING NEWS by Richard E Walrath

News Flash!

New Jersey baboon on loose again!

CORRECTION

Governor Chris Christie out of hospital after breathing problems.

© 2011 Richard E Walrath

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Two Years – The length of their term, and their level of maturity

By Patricia L Johnson and Richard E Walrath

Another day and nothing in sight yet that looks like it might be an end to the debt ceiling argument. The economy keeps getting worse which is exactly what the Republicans want to see happen. The economy is what they are going to run on next year. People don’t know anything about the debt ceiling, but they do know the economy is bad.

Why are we, as relatively intelligent adults putting up with what can only be described as a government that is totally and completely out of control and basically being run by legislators with tunnel vision?

A week or so ago the U.S. House passed H.R. 2560 Cut, Cap and Balance and they thought they did a terrific job. If you take a quick look at the bill, you’ll agree – it has some excellent points in it, until you read the fine print in lines 18, 19 and 20 of TITLE III – BALANCE, SEC. 301, which reads as follows:

“…, and requires that tax increases be approved by a two-thirds vote in both Houses of Congress for their ratification”

In other words, the current tax rates in the U.S., which include all the tax cuts passed during the Bush administration, would remain in effect until such time as an increase is approved by 2/3 of both houses of Congress if this bill had been passed by both houses and signed into law.

We cannot even get a 2/3 vote from one house, much less a 2/3 vote from both houses on the same bill!

Are you really willing to allow our country to go straight down the tubes so the ultra-rich, big business and oil companies can be subsidized with money you pay in taxes?

We allowed Tea Party candidates to slither into office because we were appalled that President Bush used up every penny of the deficit surplus, as far as the eye could see,  left by President Clinton while adding an additional $5.4 trillion to the national debt, provided us with loss of 3.6 million jobs in his final full year in office [2008] , gave us the Great recession and two wars without end.

Is it any wonder we wanted something different? Well we’ve had seven months of ‘different’ and it is now time for Tea Party Republicans who do not want to negotiate for the good of the country to step aside and let the real legislators get their jobs done.

Communicate your thoughts on this subject to your elected officials.

U.S. Senator

Representative in the U.S. House

President

© 2011 Patricia L Johnson and Richard E Walrath

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USDA Recalls teriyaki-flavored beef jerky

Ohio Firm Recalls Jerky Products Due To Misbranding And An Undeclared Alergen
Thu, 28 Jul 2011 18:19:34 -0500

Curly’s Custom Meats, a Jackson Center, Ohio establishment is recalling approximately 33 pounds of teriyaki-flavored beef jerky products because of misbranding and an undeclared allergen.

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USDA Recall due to Possible E. Coli

Ohio Firm Recalls Beef Products Due To Possible E. Coli O157:H7 Contamination
Wed, 27 Jul 2011 20:45:11 -0500

Tri State Beef, a Cincinnati, Ohio, establishment, is recalling approximately 228,596 pounds of beef products that may be contaminated with E. coli O157:H7.

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USDA RECALLS July 22, 2011

Ohio Firm Recalls Various Beef Jerky Products due to Misbranding and Undeclared Allergens
Fri, 22 Jul 2011 20:24:46 -0500

Ohio establishment is recalling approximately 6,200 pounds of various beef jerky products because of misbranding and undeclared allergens.

California Firm Recalls Beef Products Produced without Inspection
Fri, 22 Jul 2011 20:24:55 -0500

A Fowler, CA, establishment, is recalling approximately 2,560 pounds of chopped beef products produced without the benefit of federal inspection.

New York Importer Recalls Bacon Products for Possible Listeria Contamination
Fri, 22 Jul 2011 20:29:35 -0500

A New York importer is recalling approximately 2,900 pounds of diced bacon products that may be contaminated with Listeria monocytogenes,

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A Case of Mistaken Identity?

By Richard E Walrath

Have the Republicans given up on Chris Christie running this year?  If so, I’m not happy about that.  I thought it would be an interesting race between Bachmann, Perry, Christie and that escaped baboon in New Jersey.  I even wrote a little jingle about Christie just for the occasion–

Whitey Bulger is locked up in Massachusetts

Zookeepers have apprehended the baboon in New Jersey

However, Governor Christie remains free

Could this be a case of mistaken identity?

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You can lead a Horse to Water, but you cannot make it Drink, Write a Letter or Make a Call.

By Patricia L Johnson and Richard E Walrath

You voted the Republicans in – now vote them out.

We don’t need a National election for you to tell the GOP what you think of their refusal to increase the debt limit during a period of time when the nation is attempting to recover from the Great Recession.

Send them an e-mail, send them a FAX, call their offices in Washington DC and/or their local offices, but get the word out that the debt limit must be raised immediately. You need to make these calls and/or send the e-mails yourself so the GOP knows how you personally feel on the subject.

The question isn’t whether or not the debt limit should be raised; it’s how much we need to raise the limit in order to continue moving the economy forward. Not raising the debt limit will be detrimental to the entire global economy, not just US economy.

Since the beginning of the year when the Republicans took over control of the U.S. House and purse strings, all we have heard out of them is “no”. For 85 legislative days they have done absolutely nothing other than say “no”. No matter what this President wants the answer is a resounding “no” from the GOP.

The United States was so completely caught off guard and dazed by the attacks of 9/11 that we allowed legislation to be passed under the Bush Administration that did nothing for the majority and everything for the minority. Now the argument is whether or not we should continue to subsidize the oil industry in the form of tax breaks, continue to provide discounted tax rates to the richest of rich, and continue to allow major tax deductions for the super-rich and big business. Discounted tax rates and tax deductions to the rich and big business are some of the major factors bleeding this country dry.

The GOP would have you believe raising the tax rates for the wealthy and big business will cause further jobs to be lost and that is absolutely absurd. President William J. Clinton raised the tax rates during his 8-years in office and 23.1 million jobs were created. President George W. Bush lowered the tax rates during his 8-years in office and a grand total of 3.0 million jobs were created during his 8-years in office.

Bush lowered tax rates again and again, increased the amount of deductions the rich and big business could deduct from tax returns and his handiwork resulted in a total of 3.6 million jobs being lost one year alone[2008]. Think of it, in Bush’s last full year in office almost 4 million jobs were lost.

It doesn’t take a rocket-scientist to sort this out. Statistics indicate that when taxes are increased for the wealthy and big business, jobs are created and the country is prosperous and when taxes are decreased for the wealthy and deductions against income are increased, millions of jobs are lost and the economy begins a downward spiral.

During the Bush administration the debt limit was increased a total of 7-times as follows: $450 billion in 2002, $984 billion in 2003, $800 billion in 2004, $781 billion in 2005, $850 billion in 2007 and $1.5 trillion in 2008 ($800 billion plus $700 billion three months later). That’s a total of $5.365 trillion dollars added to the economy.

We can fill up a book with prepared charts on debt limit increases, employment numbers, revenues, expenditures, deficits, surpluses, GDP, percentages of this that and everything else, but what does it all mean to you?

What would happen if your income suddenly stopped next month? If the debt limit is not raised that’s basically what will happen to the United States, our income will be shut off as we would have no way of borrowing in order to cover our expenditures which are currently higher than our revenues (thanks to the eight disastrous years of the preceding administration).

The question that needs to be answered by you in order to make your decision on whether or not the debt limit should be increased and whether or not tax cuts in this country should continue is your own personal experience.

Is your family better off after the 8-years of tax cuts and deductions for the rich and big business than they were when President Clinton was in office or are you struggling to put food on the table pay your bills and keep a roof over your head?

If you were better off during the Clinton years than you are now, then you need to contact your Members of Congress and tell them to increase the debt limit and revert to the tax code in effect during the Clinton administration. Go to www.house.gov to contact your Representative in the U.S. House and www.senate.gov to contact your Senators.

It doesn’t matter if you’re a Republican, Democrat or Independent. Our legislators must understand that the debt limit needs to be raised significantly now so our country can continue to prosper.

© 2011 Patricia L Johnson and Richard E Walrath

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DDG 84 – THANK YOU FOR A JOB WELL DONE AND WELCOME HOME!

U.S. Navy photo by Mass Communication Specialist 3rd Class Jared M. King/Released

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Enterprise Carrier Strike Group Returning from Middle East

Story Number: NNS110711-07 Release Date: 7/11/2011 1:58:00 PM
From Commander, U.S. Second Fleet Public AffairsNORFOLK, Va. (NNS) — More than 4,400 Sailors and officers aboard the nuclear-powered aircraft carrier USS Enterprise (CVN 65) are scheduled to return to Norfolk July 15 after a six-month deployment supporting operations in the Mediterranean and the Arabian Sea.Enterprise, along with embarked Carrier Air Wing (CVW) 1, Carrier Strike Group (CSG) 12, Destroyer Squadron (DESRON) 2, guided-missile cruiser USS Leyte Gulf (CG 55), and the guided-missile destroyers USS Barry (DDG 52) and USS Bulkeley (DDG 84) are scheduled to return to Naval Station Norfolk. USS Mason (DDG 87) is also a member of the Enterprise Carrier Strike Group (CSG) and is scheduled to return to Norfolk later this month.

Click following link to read complete story http://www.navy.mil/search/display.asp?story_id=61515

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