If ever there was a populist blueprint for deficit reduction, this has got to be it.
Each year, millionaires are soaking the government, not illegally, for some $30 billion in benefits from tax giveaways and loan programs, according to a report by Sen. Tom Coburn of Oklahoma.
The Republican senator, a staunch fiscal hawk and equal opportunity scourge of government waste and abuse, released "Subsidies of the Rich and Famous" Monday to little fanfare, saying in an e-mailed statement, "This welfare for the well-off - costing billions of dollars a year - is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations."
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Tuesday, November 15, 2011
Monday, November 14, 2011
4 Signs Someone Is Lying To You
It's usually pretty easy to tell when someone is lying to your face, but some people are skilled at hiding their deceptions. Earlier this year, a UCLA psychology professor researched the matter and established some unintentional patterns liars tend to submit to.
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Oil Boom Raises Rents In ND, Pushes Seniors Out
WILLISTON, N.D. — After living all of her 82 years in the same community, Lois Sinness left her hometown this month, crying and towing a U-Haul packed with her every possession.
She didn't want to go, but the rent on her $700-a-month apartment was going up almost threefold because of heightened demand for housing generated by North Dakota's oil bonanza. Other seniors in her complex and across the western part of the state are in the same predicament.
She didn't want to go, but the rent on her $700-a-month apartment was going up almost threefold because of heightened demand for housing generated by North Dakota's oil bonanza. Other seniors in her complex and across the western part of the state are in the same predicament.
Fed Report Gives 50/50 Chance To New Recession In Early 2012
As the U.S. economy continues to try to climb out of the sinkhole left by the 2008 bank meltdown, looming disasters in Europe and Japan could end up plunging us back into a recession in the coming months, warns a new report from the San Francisco Federal Reserve Bank.
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First Human Heart Stem Cell Trial Shows Promise
(Updated) For the first time, doctors were able to improve heart function and reverse tissue damage in heart failure patients, using stem cells taken from the patients' own heart tissue.
Experts hailed the findings, which were simultaneously published on Monday in the journal The
Experts hailed the findings, which were simultaneously published on Monday in the journal The
Lancet and presented at the American Heart Association's annual meeting in Orlando, as potentially groundbreaking. "Every once in a while there's a landmark study in medicine," Dr. Josh Hare, chief of cardiology and director of the Interdisciplinary Stem Cell Institute at University of Miami, told ABC News. "I think this is a landmark in medicine. It reaches the level of when the first heart transplant was done."
Deciding The Right Amount To Tip
Since the beginning of time — or at least the beginning of the movie Reservoir Dogs — people have debated the proper amount to tip. There are no hard and fast rules for how much you need to tip for various services, and it comes down to a matter of personal preferences as they relate to social customs. Few people really like paying more than they need to be, or to be viewed as a cheapskate, so everyone walks a fine line when deciding how much to leave.
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Chelsea Clinton Is Hired By NBC News
NEW YORK (AP) - Chelsea Clinton began work at NBC News on Monday, the second daughter of a former president at the network. NBC said it had hired the 31-year-old Clinton to work on projects for "NBC Nightly News" and Brian Williams' newsmagazine, "Rock Center." She will report stories for the feel-good "Making a Difference" series.
The only child of former President Bill Clinton and Secretary of State Hillary Rodham Clinton is pursuing a doctorate at Oxford and working for the Clinton Foundation and Clinton Global Initiative.
Former President George W. Bush's daughter Jenna Bush Hager does stories for the "Today" show.
Why Gold Should Set New Highs For The Holidays
http://www.caseyresearch.com/editorial.php?page=articles/why-gold-should-set-new-highs-holidays&ppref=TBP422ED1111B
Most gold followers know the metal has a seasonal tendency to perform better in the fall and winter than in the spring and summer. Indeed, since 2001, the annual high for the gold price has occurred after Labor Day every year except two (2006 and 2008). Further, that peak was hit in November or December in seven of the last ten years.
So, are we destined for new highs in the gold price between now and New Year’s Eve? And what about gold stocks?
Source
Most gold followers know the metal has a seasonal tendency to perform better in the fall and winter than in the spring and summer. Indeed, since 2001, the annual high for the gold price has occurred after Labor Day every year except two (2006 and 2008). Further, that peak was hit in November or December in seven of the last ten years.
So, are we destined for new highs in the gold price between now and New Year’s Eve? And what about gold stocks?
Source
Amid Talk Of Curbing Tax Breaks, Congress Creates A New One
Despite all the talk in Washington about the need to eliminate tax preferences, credits and deductions, the Senate voted just last week to create a new one, and the House is expected to follow suit this week.
Everyone from President Obama's fiscal commission to Republican presidential candidate Rick Perry, the governor of Texas, wants to get rid of them, or at least limit them.
Edit Draft Ron Paul: "It Is Estimated That US Banks Have Over A Trillion Dollars Tied Up At-Risk With German And French Banks"
European Debt Crisis Threatens the Dollar
The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as reserve currency for the world, and the US Federal Reserve's status as the lender of last resort. As we've learned in recent disclosures, this has not only benefitted companies like AIG, the auto industry and various US banks, but multiple foreign central banks as they have run into trouble. Nothing has been solved, however, by offering up the productivity of Americans as a sacrificial lamb. Greece is set to be the first domino to fall in the string of European economies at risk. Rather than learning from Greece's terrible example of an over-consuming public sector and drowning private sector, what is more likely from our politicians is an eventual bailout of European investors.
The US has a relatively small exposure to overwhelmed Greek banks, but much larger economies in Europe are set to follow and that will have serious implications for US banks. Greece is technically small enough to bail out. Italy is not. Germany is not. France is not. It is estimated that US banks have over a trillion dollars tied up in at-risk German and French banks. Because the urge to paper over the debt with more credit is so strong, the collapse of the Euro is imminent. Will the Fed be held responsible if the Euro brings the US dollar down with it?
The most disingenuous aspect of the narrative about the European sovereign debt crisis is that entire economies will collapse if more resources are not bilked from productive people around the world. This is untrue. Tough times are coming for the banks, to be sure, but free people always find a way back to prosperity if the politicians leave them alone. Communities within Greece are coming together and forming barter systems because they know the Euro is becoming unstable. Greeks are learning how to engage in commerce with each other, without the use of fiat currency controlled by central banks. In other words, they are rediscovering what money really is, and they are trading with each other in ways that cannot be controlled, manipulated, squandered, inflated away and generally ruined by corrupt bankers and the politicians that enable them. Farmers will still grow food, mechanics will still fix cars, people will still make things and exchange them with each other. No banker, no politician can stop that by destroying one medium of exchange. People will find or create another medium of exchange.
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The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as reserve currency for the world, and the US Federal Reserve's status as the lender of last resort. As we've learned in recent disclosures, this has not only benefitted companies like AIG, the auto industry and various US banks, but multiple foreign central banks as they have run into trouble. Nothing has been solved, however, by offering up the productivity of Americans as a sacrificial lamb. Greece is set to be the first domino to fall in the string of European economies at risk. Rather than learning from Greece's terrible example of an over-consuming public sector and drowning private sector, what is more likely from our politicians is an eventual bailout of European investors.
The US has a relatively small exposure to overwhelmed Greek banks, but much larger economies in Europe are set to follow and that will have serious implications for US banks. Greece is technically small enough to bail out. Italy is not. Germany is not. France is not. It is estimated that US banks have over a trillion dollars tied up in at-risk German and French banks. Because the urge to paper over the debt with more credit is so strong, the collapse of the Euro is imminent. Will the Fed be held responsible if the Euro brings the US dollar down with it?
The most disingenuous aspect of the narrative about the European sovereign debt crisis is that entire economies will collapse if more resources are not bilked from productive people around the world. This is untrue. Tough times are coming for the banks, to be sure, but free people always find a way back to prosperity if the politicians leave them alone. Communities within Greece are coming together and forming barter systems because they know the Euro is becoming unstable. Greeks are learning how to engage in commerce with each other, without the use of fiat currency controlled by central banks. In other words, they are rediscovering what money really is, and they are trading with each other in ways that cannot be controlled, manipulated, squandered, inflated away and generally ruined by corrupt bankers and the politicians that enable them. Farmers will still grow food, mechanics will still fix cars, people will still make things and exchange them with each other. No banker, no politician can stop that by destroying one medium of exchange. People will find or create another medium of exchange.
More
FWBs Over 40
I've been thinking a lot lately about “friends with benefits”. Young adults are marrying later in life, which should be better for the divorce rate but may not be. Men and women are shying away from serious emotional commitments, choosing instead to have casual sex with supposedly no strings attached.
It sounds like a great idea in theory. In practical terms, it has some serious flaws. The biggest flaw is that being physically close with another person releases hormones that promote emotional closeness.
It sounds like a great idea in theory. In practical terms, it has some serious flaws. The biggest flaw is that being physically close with another person releases hormones that promote emotional closeness.
Congress Must IMMEDIATELY Pass HR 1148: The "Stop Trading On Congressional Knowledge" Act
Update: we have learned that the current iteration of HR 682 is HR 1148 [7], it's purpose is "To prohibit commodities and securities trading based on nonpublic information relating to Congress, to require additional reporting by Members and employees of Congress of securities transactions, and for other purposes" sponsored by Tim Waltz, and as of June 1 was... referred to the Subcommittee on the Constitution.
Following yesterday's 60 Minutes grotesque special [8]which finally exposed to the general public what most experts in the industry have known for many years, namely that the bulk of "profits" for Congressmen (at a fixed $174,000 salary [9] for the current year) and Senators are made courtesy of perfectly legal insider trading, it is time to ask the logical next question: how is it possible that the US system of checks and balances has failed so spectacularly, as to allow a glaringly illegal activity for everyone else to proceed and to generate multi-million dollar windfalls for congressional and senatorial critters? It would be perfectly understandable if some very righteous anger accompanies said question. Well, as it turns out, some, very few, Congressmen have a conscience and do believe in operating within the confines of the law, and 2 years ago proposed HR 682: Stop Trading On Congressional Knowledge Act. HR 682 [10], sponsored by Rep. Brian Baird, has a purpose "To prohibit securities and commodities trading based on nonpublic information relating to Congress, and to require additional reporting by Members and employees of Congress of securities transaction, and for other purposes." Wonder why you have never heard of HR 682, aside from the obvious: that Congress would never vote in a law to cut off this massive illegal form of funding for itself: "This bill never became law [11]." Well, duh.
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Following yesterday's 60 Minutes grotesque special [8]which finally exposed to the general public what most experts in the industry have known for many years, namely that the bulk of "profits" for Congressmen (at a fixed $174,000 salary [9] for the current year) and Senators are made courtesy of perfectly legal insider trading, it is time to ask the logical next question: how is it possible that the US system of checks and balances has failed so spectacularly, as to allow a glaringly illegal activity for everyone else to proceed and to generate multi-million dollar windfalls for congressional and senatorial critters? It would be perfectly understandable if some very righteous anger accompanies said question. Well, as it turns out, some, very few, Congressmen have a conscience and do believe in operating within the confines of the law, and 2 years ago proposed HR 682: Stop Trading On Congressional Knowledge Act. HR 682 [10], sponsored by Rep. Brian Baird, has a purpose "To prohibit securities and commodities trading based on nonpublic information relating to Congress, and to require additional reporting by Members and employees of Congress of securities transaction, and for other purposes." Wonder why you have never heard of HR 682, aside from the obvious: that Congress would never vote in a law to cut off this massive illegal form of funding for itself: "This bill never became law [11]." Well, duh.
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One Day After Attending Private Economic Crisis Briefing, GOP Financial Services Chairman Bet On Stocks Tanking
CBS News’ 60 Minutes aired a report last night alleging that several members of Congress have traded stock using information they received during private briefings or meetings, enabling them to profit from inside information. By far the most damning story was about House Financial Services Chairman Spencer Bachus (R-AL), who in 2008, the day after receiving a private briefing from the nation’s chief economic officials on the extent of the financial crisis, proceeded to bet that the stock market would tank:
Government By Force: Financially And Conceptually Bankrupt
Our system of government erases personal responsibility and replaces it with personal irresponsibility. As government reaches its limits, caused by its inefficiencies, unhappiness and misery increase. The pendulum at some point will swing back.
A major shift in the way we do many things awaits us: the return of personal responsibility. This shift will, when it happens, qualify as a new mega-trend. When enough people become dissatisfied with their lives and understand the role of government in causing their dissatisfaction, this shift will gain momentum.
Government in its current form, forced upon us rather than being by subscription or voluntarily chosen, exemplifies where we now stand. Its failures foreshadow the opposite direction in which we will be headed.
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A major shift in the way we do many things awaits us: the return of personal responsibility. This shift will, when it happens, qualify as a new mega-trend. When enough people become dissatisfied with their lives and understand the role of government in causing their dissatisfaction, this shift will gain momentum.
Government in its current form, forced upon us rather than being by subscription or voluntarily chosen, exemplifies where we now stand. Its failures foreshadow the opposite direction in which we will be headed.
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It's Recall Time For Wisconsin Gov. Scott Walker
In late September, Democratic pollster Paul Maslin met with staffers from the Democratic Party of Wisconsin in a bright conference room with a view of the state Capitol in Madison. He sensed disappointment in the room. That summer, the party had forced recall elections for six Republican state senators but unseated just two of them—one short of retaking control of the majority. Maslin's reason for visiting was to discuss his new poll for a different recall effort, one targeting the most controversial man in Wisconsin: Republican Gov. Scott Walker.
White House Email: Energy Secretary Chu Must Go 'As Soon As Possible' - ABC News
New internal White House emails reveal that a scathing critique of Energy Secretary Steven Chu by a former Obama political advisor was widely circulated at the highest levels of the administration.
The Feb. 25, 2011 email that sparked the deliberations landed on West Wing desks just as the solar energy firm Solyndra was starting to show outward signs of financial trouble. It was sent by Dan Carol, a former Obama campaign staffer and clean energy advocate who was described by Obama's then-Chief of Staff Pete Rouse as someone whose views "reflect the President's general philosophy on energy policy."
Carol's four-page proposal to restructure the Energy Department included the blunt recommendation that Chu be fired, and that his leadership team also be replaced, calling it time for "serious changes, even if they are uncomfortable to make."
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The Feb. 25, 2011 email that sparked the deliberations landed on West Wing desks just as the solar energy firm Solyndra was starting to show outward signs of financial trouble. It was sent by Dan Carol, a former Obama campaign staffer and clean energy advocate who was described by Obama's then-Chief of Staff Pete Rouse as someone whose views "reflect the President's general philosophy on energy policy."
Carol's four-page proposal to restructure the Energy Department included the blunt recommendation that Chu be fired, and that his leadership team also be replaced, calling it time for "serious changes, even if they are uncomfortable to make."
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Study: Women Who Exercise Every Day Are Less Depressed
20%
Percent lower risk of depression among women who exercised 90 min. or more a day, compared with those who did less than 10 min. a day, according to a study of nearly 50,000 women who were surveyed from 1992 to 2006 as part of the U.S. Nurses' Health Study. The study also found an association between TV watching and depression: women who watched at least 3 hrs. of TV a day were 13% more likely to be diagnosed with depression than those who hardly ever tuned in, but at least part of that link could be attributed to women using time they could be exercising to sit in front of the tube instead.
Editor's Note -I exercise daily and truly enjoy it. Exercise really does make you feel mentally and physically alive.
STATEMENT FROM GOVERNOR MARTIN O’MALLEY ON THE SUPREME COURT’S REVIEW OF THE AFFORDABLE CARE ACT
ANNAPOLIS, MD (November 14, 2011) – Governor Martin O’Malley today issued the following statement on the Supreme Court’s review of the Affordable Care Act:
“In Maryland, over the past five years, we have expanded health care coverage to 290,000 previously uninsured Marylanders, 135,000 of them children. And thanks to President Obama’s leadership, the Affordable Care Act would save our State nearly $830 million over the next 10 years and provide coverage to nearly 400,000 Marylanders.
“We welcome the Supreme Court’s decision to consider the challenges to the Affordable Care Act. The Court should uphold the law, and achieving certainty will be of benefit to states’ implementation efforts. In the meantime, it is the law of the land, and we will continue our work to ensure that our State is on track to have an operational health benefit exchange by 2014 and prepared to bring the full benefits of health care reform to all Marylanders.”
“In Maryland, over the past five years, we have expanded health care coverage to 290,000 previously uninsured Marylanders, 135,000 of them children. And thanks to President Obama’s leadership, the Affordable Care Act would save our State nearly $830 million over the next 10 years and provide coverage to nearly 400,000 Marylanders.
“We welcome the Supreme Court’s decision to consider the challenges to the Affordable Care Act. The Court should uphold the law, and achieving certainty will be of benefit to states’ implementation efforts. In the meantime, it is the law of the land, and we will continue our work to ensure that our State is on track to have an operational health benefit exchange by 2014 and prepared to bring the full benefits of health care reform to all Marylanders.”
Nickelback To Perform At Thanksgiving Halftime After All
DETROIT (WWJ) - The Detroit Lions organization says like it or not, Nickelback will be the halftime entertainment at the Thanksgiving Day game versus Green Bay at Ford Field.
The selection of the Canadian rockers, which was unconfirmed until Thursday, made thousands of Lions fans furious, saying the halftime show should have a Detroit flavor. An anti-Nickelback petition drive online netted over 50,000 supporters.
The selection of the Canadian rockers, which was unconfirmed until Thursday, made thousands of Lions fans furious, saying the halftime show should have a Detroit flavor. An anti-Nickelback petition drive online netted over 50,000 supporters.
Still No Agreement On Deficit Deal
With just over a week left, there is still no deficit deal in sight for the Congressional supercommittee. Lawmakers admit they are far from agreeing on $1.2 trillion dollars in deficit savings over the next decade. The panel is divided along partisan lines. President Obama says he urged Republican leadership to be more flexible, but negotiations did not go well. The committee is stuck on finding a mutually agreeable blend of tax increases and government cuts.
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