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Congressional Budget Office, CBO- H.R. 7934, Settlement Agreement Information Database Act
- CBO’s Review of the Reconciliation Recommendations of the Senate Committee on Homeland Security and Governmental Affairs
- H.R. 8036, Interagency Coordination in Export Controls Act of 2026
- H.R. 6196, Locally Led Development and Humanitarian Response Act
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- S. 1787, Dolores River National Conservation Area and Special Management Area Act
- H.R. 6541, Regulation A+ Improvement Act of 2025
- Legislation considered under suspension of the Rules of the House of Representatives during the week of May 18, 2026
- How Changes in Discretionary Funding for the Budget Year Affect Outlays, 2027 to 2036: An Interactive Tool
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World News Network- Torrential rain and floods batter China, killing at least 12 and forcing mass evacuations
- WHO chief concerned over 'scale and speed' of Ebola outbreak as Congo reports 134 dead
- Rising fuel prices trigger protests in Kenya, in photos
- The UAE says drones that targeted its Barakah nuclear power plant came from Iraqi territory
- Samsung Electronics union to launch general strike after failed talks with management
- YTD April 2026 report (Mobile World Investment Corporation)
- Taiwan’s Lai says ‘foreign forces’ cannot decide island’s future
- South Korea President Lee, Japan PM Takaichi forge energy front as Hormuz crisis bears down
- Rubio says WHO was 'a little late' on identifying Ebola outbreak
- ‘No leniency’: Iran lawmaker calls Strait of Hormuz 'permanent asset' amid war with US
U.S. Navy – POD- Changes To Navy News Subscription Service
- Surface Warfare - Obtaining a Fix on Fleet NSS Skill Sets
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Election 2012
U.S. Presidential Election Obama v. RomneyNovember 6, 2012There are a total of 538 Electoral Votes with 270 needed to win. Barack Obama received 332 electoral votes while Mitt Romney received 206 electoral votes. Barack Obama received a total of 65,899,660 votes, while Mitt Romney received a total of 60,982,152 votes. Turnout was 54.9%Election 2016
U.S. Presidential Election Trump v. ClintonNovember 8, 2016There are a total of 538 Electoral Votes with 270 needed to win. Donald Trump received 304 electoral votes while Hillary Clinton received 227 electoral votes. Donald Trump received a total of 62,984,828 votes, while Hillary Clinton received a total of 65,853,514 votes. Turnout was 55.7%-
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Medical News: Half of Americans Projected to Be Obese in 2030 – in Primary Care, Obesity from MedPage Today
Posted in Health and wellness, News and politics
Tagged Medical News, MedPage, Obesity
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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
FRB: Speech–Bernanke, The Near- and Longer-Term Prospects for the U.S. Economy–August 26, 2011
Posted in Economy, News and politics
Tagged 2011, August 26, Chairman Ben S. Bernanke, Jackson Hole, speech, U.S. Economy, WY
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Medical News: E.Coli Outbreak: Early Plasma Exchange Effective – in Gastroenterology, General Gastroenterology from MedPage Today
Posted in Health and wellness, News and politics
Tagged E-coli, Gastroenterology, MedPage Today
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Defense Department Prepares in Advance of Hurricane Irene
Posted in Government, News and politics, U.S. Military
Tagged Department of Defense, Hurricane Irene, preparations
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Economic Releases – Friday, August 26, 2011
Census of Fatal Occupational Injuries*
ECRI Weekly Leading Index
Note: Release time is at 10:30 a.m.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.txtEconomic 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
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.
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.
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
Posted in News and politics
Tagged crude oil, EIA, Ethanol, exports, gasoline, imports, Petroleum, propane
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Department of Defense Contracts for August 24, 2011
Posted in News and politics, U.S. Military
Tagged August 24, Contracts, Department of Defense
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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
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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
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*
Social Security Programs Throughout the World: Africa*
Unemployment Insurance Weekly Claims Report (Initial Claims)
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
Posted in Economy, News and politics
Tagged Bureau of Labor Statistics, Department of Labor, Factors affecting Reserve Balances, Fatal Occupational Industries, Federal Reserve, Money Stock Measures, Social Security Administration, Social Security Programs Throughout the World: Africa, SSI Annual Report, SSI Monthly Statistics, Summer Youth Labor Force, Unemployment Insurance Weekly Claims Report (Initial Claims)
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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
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.
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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
Congressional Budget Office – Budget and Economic Outlook: An Update
Posted in Economy, National Debt, News and politics
Tagged Budget and Economic Outlook, CBO
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Economic Releases – Wednesday, August 24, 2011
MBA Weekly Mortgage Applications Survey
Summer Youth Labor Force
Note: Release time is at 10 a.m.
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
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.
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.
Posted in News and politics, War
Tagged air strike, al-Quds Brigades, Egyptian border, Ismael al-Ismar, Israel, missile, Rafah
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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.
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.
Posted in News and politics
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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
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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.
Posted in Economy, Employment, Government, News and politics
Tagged Alan Mulally, Election 2012, Job Creation, President Obama, The Hill, Unemployment, Warren Buffett
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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.
Economic and Financial Indicators (updated daily)
Federal Reserve Board (updated daily)
Source: NBER
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
Posted in News and politics
Tagged H.R. 1351 United States Postal Service Pension Obligation Recalculation and Restoration Act of 2011, H.R. 1380 New Alternative Transportation to Give Americans Solutions Act of 2011, H.R. 1473 Department of Defense and Full-Year Continuing Appropriations Act, H.R. 1981 - Protecting Children From Internet Pornographers Act of 2011, H.R. 2480 Administrative Conference of the United States Reauthorization Act of 2011, H.R. 2715 To provide the Consumer Product Safety Commission with greater authority and discretion in enforcing the consumer product safety laws, H.R. 3200 America's Affordable Health Choices Act of 2009, H.R. 3590 Patient Protection and Affordable Care Act, H.R. 4646 Debt Free America Act, S. 365 Budget Control Act of 2011
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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. …
What’s Next from the Board of Governor’s of the Federal Reserve System
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 …
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
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.
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.
Economic and Financial Indicators (updated daily)
Federal Reserve Board (updated daily)
Source: NBER
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 claimed “Since 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
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
Posted in Government, News and politics, Safety and Security
Tagged 8-year prison sentence, Iran, Joshua Fattal, Shane Bauer
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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 …
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>
Posted in News and politics, Safety and Security
Tagged 4 dead, flash flooding, Pennsylvania, Pittsburgh
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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
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?
Posted in Economy, Elections 2012, Employment, Government, Health, Uninsured, News and politics
Tagged disadvantaged, Employment, Farmer John, health care, Middle class, poor, unemployed
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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/
Posted in Immigration, Safety and Security
Tagged 6-year-old-girl, Antonio Diaz Chacon, CNN News, hero, Illegal Immigrant, kidnapped, rescuer, undocumented
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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
Posted in Health and wellness, News and politics
Tagged Ground Beef, Lowe's, North Carolina, recall, South Carolina, USDA, Vantage Foods, Virginia
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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
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.
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
Posted in Economy, Employment, Government, News and politics
Tagged BEA, BLS, Business Cycle, Commercial Paper, Economic and Financial Indicators, ECRI Weekly Leading Index, Federal Reserve, federal reserve board, Monetary Trends, NBER, Regional and State Employment and Unemployment (Monthly), St. Louis Federal Reserve, Survey of Current Business
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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
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.
Posted in News and politics
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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.
Economic Indicators – Thursday, August 18, 2011
Annual Statistical Report on the Social Security Disability Insurance Program*
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.
Unemployment Insurance Weekly Claims Report (Initial Claims)
Economic and Financial Indicators (updated daily)
Federal Reserve Board (updated daily)
*Note: Unscheduled annual release data issued next day
Posted in News and politics
Tagged Bureau of Labor Statistics, Consumer Price Index, CPI, Department of Labor, Existing Home Sales, Federal Reserve, H41, Leading Indicators from the Conference Board, Money Stock Measures (H6), Philadelphia Fed Business Outlook, Philadelphia Federal Reserve, Real Earnings, Realtor.org, reserve balances, Social Security Disability Report, SSA, SSD, Unemployment Insurance Weekly Claims Report
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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
Senior Loan Officer Opinion Survey*
Economic and Financial Indicators (updated daily)
Federal Reserve Board (updated daily)
*Note: Annual data without scheduled release dates are released the following day
Posted in Economy, Government, News and politics
Tagged Bureau of Labor Statistics, ECB, Euro Harmonised Index of Consumer Prices, Euro Investment Fund Statistics, European Central Bank Balance of Payments, Federal Reserve, HICP, MBA Weekly Mortgage applications survey, Mortgage Bankers, PPI, Producer Price Index, Senior Loan Officer Opinion Survey
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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
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
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.
Posted in Economy, Government, News and politics
Tagged BLS, Bureau of Labor Statistics, Census Bureau, Commercial Paper, economic indicators, Federal Reserve, housing starts, Import and Exports, Industrial Production and Capacity, New residential construction, Retail E-commerce sales
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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.
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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.
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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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
Posted in Economy, News and politics
Tagged balanced budget, Dennis Kelleher, Director Progressive Economy project, economics, Ed Gresser, eliminate debt ceiling, Federal Reserve Chairman Ben Bernanke, Global Works Foundation, Job Growth, National Journal, One-percent cut, President /CEO Better Markets, Representative Connie Mack IV, unemployment rate
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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
Posted in News and politics
Tagged Bureau of Labor Statistics, Business Cycle, Business Inventories, Census Bureau, Commercial Paper, ECRI Weekly Leading Index, Federal Reserve, Manufacturing and Trade Inventories and Sales, MARTS, Multifactor Productivity Trends in Manufacturing, Philadelphia Fed Survey of Professional Forecasters, Philadelphia Federal Reserve, Retail and Food Service Sales, University of Michigan Consumer Sentiment
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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.
Posted in Economy, News and politics
Tagged Joint Select Committee on Deficit Reduction, JSC, Representative Chris Van Hollen, Representative Dave Camp, Representative Fred Upton, Representative Jeb Hensarling, Representative Jim Clyburn, Representative Xavier Becerra, Senator John Kerry, Senator Jon Kyl, Senator Max Baucus, Senator Pat Toomey, Senator Patty Murray, Senator Rob Portman
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Economic Releases – August 11, 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.
U.S. International Trade in Goods and Services
Unemployment Insurance Weekly Claims Report (Initial Claims)
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)*
Posted in Economy, News and politics
Tagged BEA, Bureau of Labor Statistics, Commercial Paper, Department of the Treasury, ECB INT, Euro Area Securities Issues Statistics, Federal Reserve, Job Openings and Labor Turnover Survey, JOLTS, Long-term interest rate statistics for EU Member states, Mass Layoffs Monthly, MBA Weekly Mortgage applications survey, Monthly Treasury Statement, Monthly Wholesale Trade, Mortgage Bankers, MTIS, Personal Income for Metropolitan Areas, Sales and Inventories, The Monthly “Budget”
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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
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.
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
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
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.
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/
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.
Posted in News and politics
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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.
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.
Unemployment Insurance Weekly Claims Report (Initial Claims)
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
Posted in Economy, Government, News and politics, War
Tagged Budget Cuts, civilian employees, Department of Defense, furlough, lay-off, Pentagon, U.S. Budget, Unemployment, weapons programs
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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.
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”
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.
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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.
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
Posted in News and politics
Tagged and christie, baboon, breathing problems, Governor Chris Christie, New Jersey, news, news flash, 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.
© 2011 Patricia L Johnson and Richard E Walrath
Posted in Economy, Elections 2012, Government, National Debt, News and politics
Tagged Congress, Cut Cap and Balance, Debt Limit, deficit surplus, Democrats, economics, Employment, Great Recession, H.R. 2560, Legislation, President Clinton, President George W. Bush, Republicans, Tea Party, U.S. House, U.S. Senate, War
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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.
Posted in News and politics
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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.
Posted in News and politics
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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,
A Case of Mistaken Identity?
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?
Posted in News and politics
Tagged Chris Christie, Governor, New Jersey, Whitey Bulger
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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
Posted in 9/11, Economy, Employment, Government, National Debt, News and politics
Tagged big business, Debt Limit, Democrats, Economy, GOP, Independents, Job Creation, Members of Congress, National elections, oil subsidies, President George W. Bush, President William J. Clinton, Republicans, U.S. House, U.S. Senate, Unemployment
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