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Life, Liberty, & the Pursuit of Happiness
Life, Liberty, & the Pursuit of Happiness
Friday, May 27, 2011
Wednesday, May 25, 2011
YouTube - Federally Funded NASA 'Educates' Children About Global Warming on 'Climate Kids' Web Site
YouTube - Federally Funded NASA 'Educates' Children About Global Warming on 'Climate Kids' Web Site
Life, Liberty, & the Pursuit of Happiness
Propaganda of our children with our tax dollars!
Life, Liberty, & the Pursuit of Happiness
YouTube - Ryan Calls for Spending Cuts Greater than President's Debt Limit Hike
YouTube - Ryan Calls for Spending Cuts Greater than President's Debt Limit Hike
Life, Liberty, & the Pursuit of Happiness
Life, Liberty, & the Pursuit of Happiness
Monday, May 16, 2011
Boehner and Obama Tangle
Big Oil's $4B tax break in doubt as Obama, Boehner tangle
President Obama once again calls for the subsidies to end as high gas prices erode Republican opposition.
By Steve Hargreaves, senior writerPresident Obama repeated his call Tuesday for an end to $4 billion in oil industry tax breaks as gas prices approach $4 a gallon and after a top lawmaker indicated a possible shift in Republican policy.In a letter to congressional leaders, the president said the oil industry is profitable enough without the tax incentives and that the money should be spent on alternative energy sources and conservation.
"CEOs of the major oil companies have made it clear that high oil prices provide more than enough profit motive to invest in domestic production without special tax breaks," said Obama. "As we work together to reduce our deficits, we simply can't afford these wasteful subsidies."
This week those profits are going to be front and center. BP is expected to report earnings on Wednesday. Exxon is slated to announce its results on Thursday. Some analysts expect the company's profits to jump 50% from last year. Chevron
The oil industry and many of its supporters in Congress have long argued that the tax breaks encourage domestic oil production and provide jobs for millions of Americans. Republicans in particular have resisted efforts to eliminate these tax breaks, something many Democrats have been trying to do since at least 2008.
But on Monday night, Speaker of the House John Boehner indicated he might be open to taking some of those breaks off the table.
"I don't think the big oil companies need to have the oil depletion allowances, but for small, independent oil and gas producers, if they didn't have this, there'd be even less exploration in America than there is today," Boehner said on ABC's
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Depletion allowances let oil companies treat the oil in the ground as capital equipment, and they can write off a certain percentage for each barrel that comes out.
On Tuesday the speaker appeared to backtrack from those comments, with an aid telling CNN
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Nonetheless, Obama took the chance to pounce, saying in his letter that he was "heartened that Speaker Boehner yesterday expressed openness to eliminating these tax subsidies."
This all comes as the price of gasoline surges above $4 a gallon in many states, making it increasingly difficult politically to defend Big Oil.
As gas prices approach their record highs set in 2008 they are threatening to derail the nation's nascent economic recovery.
The tax breaks in question
The Obama administration is targeting nine tax breaks, according to a paper from the left-leaning Center for American Progress. Four account for the lion's share of the money:Domestic manufacturing tax deduction: This is the largest single tax break, and would save over $1.7 billion a year if eliminated.
The tax deduction, passed in 2004, is designed to keep factories in the United States. Companies that manufacture here can deduct 9% of their income from operations that are attributed to domestic production.
But some question if that incentive is really appropriate for oil companies. "What are they going to do, move the oil field to the North Sea," said one staffer at the Center for American Progress said in an interview earlier this year.
No, but higher costs in the United States may make them move the drill rigs to the North Sea or some other place.
Eliminating the tax breaks "would actually discourage new energy projects and new hiring in one of the nation's most dependable job-creating industries," the American Petroleum Institute said in a statement at the time, noting the industry currently supports over 9 million jobs.
The percentage depletion allowance: This lets oil companies deduct about 15% of the money generated from a well from its taxes. Eliminating it would save about $1 billion a year.
The deduction essentially lets oil companies treat oil in the ground as capital equipment. For any industry, the value of that equipment can be written down each year.
But critics say oil in the ground is not capital equipment, but a national resource that the oil companies are simply using for their own profit.
The foreign tax credit: This provision gives companies a credit for any taxes they pay to other countries. Altering this tax credit would save about $850 million a year.
Foreign governments can collect money from oil companies through royalties -- fees for depleting their national resources -- and income taxes.
A royalty would be deducted as a cost of doing business, and would likely shave about 30% off a company's tax bill. Categorized as income tax, it is 100% deductible.
Foreign governments long ago grew wise to the U.S. tax code. To reduce costs for everyone involved and attract business, they agreed to call some royalties income taxes, allowing oil companies to take the 100% deduction on a bigger slice of their bill.
Intangible drilling costs: This lets the industry write off about $780 million a year for things like wages, fuel, repairs and hauling costs.
All industries get to write off the costs of doing business, but they must take it over the life of an investment. The oil industry gets to take the drilling credit in the first year.
The 9 places where inflation is crushing us
The 9 places where inflation is crushing us
Meat, gas, even diapers are costing regular folks.
ROCKVILLE, Md. — Inflation is far from under control and it’s time that Americans demand our government officials do something about it.The Federal Reserve would have you believe that everything is fine, focusing on core inflation rates and ignoring broader measures of inflation as they affect food and energy. These commodity-driven prices, as our central banking overlords would have you believe, are naturally more volatile and shouldn’t be overstated.
You would think after Fed bureaucrat William Dudley was castigated for talking up the affordability of iPads while ignoring real family expenses, our Federal Reserve officials would have woken up to reality. But after the publicity stunt by Chairman Ben Bernanke on Wednesday, it’s clear that the Fed — and perhaps many Americans as a result — is in denial when it comes to the inflationary trends crippling U.S. households.
1. Beef
In a revised forecast Monday, the U.S. Department of Agriculture said consumers will see higher price tags on ground beef and steak, projecting 6% to 7% increases year over year. That’s up from a previous forecast of just 4.5% to 5.5% inflation for beef prices. Beef prices have surged in the last several months as supplies shrink, exports boom and grain costs soar.2. Pork
Don’t think you can just switch from cow to pig to avoid this trend — pork could see retail price increases of as much as 7.5% over 2010 levels according to the USDA.3. Grains
Even going vegetarian is more expensive than it was a year ago. Corn prices have doubled, from $3.49 a bushel in July to well over $7.70 currently. Wheat prices have rolled back a bit in recent weeks, but topped 2008 highs in February to set a new record and remain very high currently.4. Gasoline
The average U.S. price of a gallon of gasoline has jumped about 12 cents over the last two weeks to $3.88, with the highest average price for gas tallying $4.27 in Chicago. This is with oil at $112 a barrel — if crude prices reach 2008 peak levels of $145, four bucks for gas may seem cheap.5. Copper
The price of copper at the end of 2008 was just $1.30 per pound. Currently, copper is trading around $4.30 after setting a record of $4.60 in February. Unlike gold and silver, which are largely used in luxury goods or as investments, copper is used in a wide range of household items — from electrical wiring to air conditioners to water pipes.6. Diapers
Consumer-products company Procter & Gamble (PG| Loading... | ||
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7. Paper towels and toilet paper
If you don’t have infants, you’re not off the hook. P&G also said that Charmin toilet paper and Bounty paper towels are both listing for 5% more now with retailers and distributors than they were a year ago. KMB’s diaper price update will also be accompanied by a boost for its flagship Kleenex tissues.8. Shipping surcharges
Freight shipper United Parcel Service (UPS| Loading... | ||
9. Wages
Perhaps the most insidious factor of our current inflationary spiral is the fact that while all these other items are costing more, household purchasing power is shrinking because wages and salaries aren’t keeping up. While the consumer price index rose 2.7% in March to clock the fastest 12-month pace since December 2009, a staggering 18% of personal income is now made up government transfer payments while wages account for just 50.5%. That’s the lowest since the government started keeping records in 1929.Obama appoints Muslim Brotherhood to key posts
Report--Obama quietly appoints Muslim Brotherhood to key posts - National Conservative | Examiner.com
An ex-CIA agent and counter-intelligence expert has revealed in a special report that Barack Obama has quietly appointed members of the Muslim Brotherhood to key posts within the Administration. Dr. Clare Lopez, professor at the Centre for Counterintelligence and Security Studies, wrote a policy paper in December of 2009 which details the systematic appointment of Sharia-friendly advocates within the State Department and other government agencies.
For example, the Tehran-born Dr. Vali Nasr was appointed to co-direct Obama foreign policy toward Afghanistan and Pakistan. Former Saudi Arabian supplicant Charles Freeman was appointed by Obama to chair the Administration's National Intelligence Council, but withdrew his name when it was revealed he issued a 2-page screed in which he postulated a conspiracy theory claiming he had been 'victimized' by American supporters of Israel. In addition, John Limbert was appointed to direct U.S. policy toward the Islamist regime in Iran. Limbert, who was taken hostage during the Iranian upheaval of the late 70s-early 80s, is an Iranian sympathizer who advocates negotiation with one of the most brutal dictatorships in the world.
For example, the Tehran-born Dr. Vali Nasr was appointed to co-direct Obama foreign policy toward Afghanistan and Pakistan. Former Saudi Arabian supplicant Charles Freeman was appointed by Obama to chair the Administration's National Intelligence Council, but withdrew his name when it was revealed he issued a 2-page screed in which he postulated a conspiracy theory claiming he had been 'victimized' by American supporters of Israel. In addition, John Limbert was appointed to direct U.S. policy toward the Islamist regime in Iran. Limbert, who was taken hostage during the Iranian upheaval of the late 70s-early 80s, is an Iranian sympathizer who advocates negotiation with one of the most brutal dictatorships in the world.
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Sunday, May 15, 2011
Is "Leading from Behind" a disassociation from leadership?
President Obama has had the tag of "Leading from Behind" applied to him on Libya, Immigration, Health Care, Budget Deficit, etc. Is President Obama a leader or a follower, you make the call.............
Leading from Behind affords an unlimited opportunity for "cheap shots" of critics.
Leading from Behind is positioning oneself as a "Monday morning quarterback."
Leading from Behind effectively allows one to avoid direct accountability for any decision or proposal.
Leading from Behind is jurisprudentially an intellectual dishonesty.
When has President Obama ever put himself accountable on the "front end" of any issue? Please be specific.
What legislation has Barrack Obama ever personally proffered for debate and discussion? Please be specific.
Leading from Behind affords an unlimited opportunity for "cheap shots" of critics.
Leading from Behind is positioning oneself as a "Monday morning quarterback."
Leading from Behind effectively allows one to avoid direct accountability for any decision or proposal.
Leading from Behind is jurisprudentially an intellectual dishonesty.
When has President Obama ever put himself accountable on the "front end" of any issue? Please be specific.
What legislation has Barrack Obama ever personally proffered for debate and discussion? Please be specific.
Stocks To Watch Today - Barrons.com
Stocks To Watch Today - Barrons.com
Friday afternoon seems like an inauspicious time to release earnings results. We'll have to wait until Monday to see how the market reacts to Fannie Mae's (FNMA) first quarter results, but the company's assessment of the housing market was grim. Shares fell 9.1% on Friday to 43 cents per share.
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Thursday, April 28, 2011
Food prices to rise 2 to 3 percent this year - baltimoresun.com
Food prices to rise 2 to 3 percent this year - baltimoresun.com
Shoppers should brace for higher grocery bills, especially on basics such as milk and ground beef, as food prices are expected to rise this year. Food inflation is expected to accelerate this year to as much as 3 percent after two years of more moderate or declining prices, according to the U.S. Department of Agriculture. Some economists are warning of even higher inflation given the volatile food market. That could add more than $20 to the average monthly food bill for a family of four. Some Baltimore-area grocery stores already have begun to raise prices and cut back on sales. Giant Food, the region's largest grocer, hit customers the hardest with a 4.5 percent increase in prices since October, according to a Morgan Stanley survey that included Baltimore-area grocers. Food Lion raised prices by 4.2 percent in that time, while Walmart held the line with a 0.1 percent increase.
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Tuesday, April 26, 2011
Drilling Ban
SHELL SHOCKED DRILLING BAN
As gas prices continue to soar while President Obama tells the American people there is nothing he can do to solve the problem, the Environmental Protection Agency forced Shell Oil Company to scrap plans to drill in one of the most remote locations in the United States this week. Shell had planned to drill 70 miles off the coast of Alaska's North Slope in the Arctic Ocean, but the EPA denied the company a drilling permit after stating the company had failed to calculate greenhouse gas emissions in their assessment of environmental impact. Seems like the Obama Administration and the EPA have overlooked the negative economic impact of this decision. Before the decision by the EPA, Shell had invested nearly $4 billion in the project.
Meanwhile, President Obama has launched an investigation into evil corporations because he believes speculators and oil futures traders are driving the price of oil up through manipulation.
As gas prices continue to soar while President Obama tells the American people there is nothing he can do to solve the problem, the Environmental Protection Agency forced Shell Oil Company to scrap plans to drill in one of the most remote locations in the United States this week. Shell had planned to drill 70 miles off the coast of Alaska's North Slope in the Arctic Ocean, but the EPA denied the company a drilling permit after stating the company had failed to calculate greenhouse gas emissions in their assessment of environmental impact. Seems like the Obama Administration and the EPA have overlooked the negative economic impact of this decision. Before the decision by the EPA, Shell had invested nearly $4 billion in the project.
Meanwhile, President Obama has launched an investigation into evil corporations because he believes speculators and oil futures traders are driving the price of oil up through manipulation.
President Obama: How does he solve problems?
We have some significant problems in the United States
How has President Obama gone about solving any one of these problems?
Life, Liberty, & the Pursuit of Happiness
- Federal Deficits.
- Federal Debt.
- Immigration.
- Two (now three) Wars
- Health Care costs.
- Entitlement costs.
- World chaos.
- Undue Political Strength of Public Unions
How has President Obama gone about solving any one of these problems?
- create a committee to generate a report and then ignore the findings
- after a lengthy delay, send a diplomat to discuss the issue
- make a speech outlining the problem and demagogue anyone offering a solution
- acknowledge the problem but do nothing
- ignore and avoid the issue entirely
Life, Liberty, & the Pursuit of Happiness
Headlines in America:
Headlines in America:
The Headlines stay the same but the message keeps changing --
The Headlines stay the same but the message keeps changing --
- Trust: Is Obama who he says he is?
- The Ages of America is ending
- ObamaCare Is Starting To Bleed Insurers Dry - Forbes.com
- Obama: Is he working on solving America's problems or his re-election?
- Oil production: When should we start drilling again - now or never?
- Tea Party: Are they terrorists?
- Obama Links America's Greatness With Government Spending -- Again
- Fiscal Problems: Are politicians a solution or part of the problem?
- Immigration: Killing continues on Mexican Border
- Borrowing $ billions from foreign governments $
- The Economy: What can we expect in the next twelve months?
- Fighting and killing in Afghanistan
- Who is able and willing to invest in America?
- Bombing and killing in Libya $
- Middle East on fire
- Environmental Justice
- Iran developing nuclear weapons
- Value of the American dollar $ declining $
- Value of Gold $ increasing $
- Food prices $ increasing $
- Oil prices $ increasing $
- Food converted to fuel American cars
- States in budget fiscal crisis $
- Health Care costs increasing $
- Federal debt increasing by trillions $
- Americans living on food stamps $
- Payroll taxes increasing $
- Obama wants to increase taxes $
- Federal Reserve causing inflation $
- World Food prices increasing $
- More federal regulations being written for Health Care
- Congress and Obama negotiating our future
- Home foreclosures not declining
- Jobless claims not declining
- Royal wedding
- Fannie Mae and Freddie Mac needing more billions $
- Labor union unrest continues
- Personal Income: Who owns it - Uncle Sam or You?
- Federal Tax Revenue: Who should be paying?
Life, Liberty, & the Pursuit of Happiness
Rising food costs upset Valley shoppers - Business - fresnobee.com
Rising food costs upset Valley shoppers - Business - fresnobee.com
The cost of everything from the cheese on your pizza to the corn in your cornflakes is on the rise, and experts say food prices are expected to keep going up. A combination of bad weather that stunted crops worldwide, growing fuel costs, and rising prices in food ingredients are driving the increases. For months, supermarkets and restaurants have held back on passing the higher costs along to cash-strapped consumers. Now it appears they can't hold back anymore. In January, the average price of a USDA Choice boneless sirloin steak in the western U.S. was $1.84 a pound more than it was a year ago, according to the Bureau of Labor Statistics, which tracks prices. A half-gallon of ice cream went up 87 cents, and broccoli rose 36 cents a pound.
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Food prices at 'dangerous' levels: World Bank - World - CBC News
Food prices at 'dangerous' levels: World Bank - World - CBC News
he bank, in a report released Tuesday, said that global food prices have jumped 29 per cent in the past year, and are just three per cent below the all-time peak hit in 2008.
On Feb. 3, the UN's Food and Agriculture Organization said prices are already there.
Its food price index rose in January by 3.4 per cent from December to 231 points. The rise was the seventh straight monthly increase.
The index measures monthly price changes for a basket of foods including cereals, oilseeds, dairy, meat and sugar.
High prices sparked rioting in 61 countries in 2007 and 2008. Back then, the FAO index was at 200 points for all of 2008.
Wheat prices have traded at record levels recently as commodity traders worry about the quality and quantity of the global wheat supply, given continuing drought in China, and after devastating floods damaged Australia's crop. Last year, yields were affected by drought in Russia and Ukraine and by flooding in Canada.
Wheat futures for May delivery retreated by 3.8 per cent Tuesday, to $8.70 a bushel on the Chicago Board of Trade. A day earlier, the price touched $9.15 a bushel, its highest since Aug. 22, 2008.
The World Bank said Tuesday food prices have hit "dangerous levels" that could contribute to political instability, push millions of people into poverty and raise the cost of groceries. The bank's president, Robert Zoellick, said in Washington rising prices have hit people hardest in the developing world because they spend as much as half their income on food.
he bank, in a report released Tuesday, said that global food prices have jumped 29 per cent in the past year, and are just three per cent below the all-time peak hit in 2008.
On Feb. 3, the UN's Food and Agriculture Organization said prices are already there.
Its food price index rose in January by 3.4 per cent from December to 231 points. The rise was the seventh straight monthly increase.
The index measures monthly price changes for a basket of foods including cereals, oilseeds, dairy, meat and sugar.
High prices sparked rioting in 61 countries in 2007 and 2008. Back then, the FAO index was at 200 points for all of 2008.
Wheat prices have traded at record levels recently as commodity traders worry about the quality and quantity of the global wheat supply, given continuing drought in China, and after devastating floods damaged Australia's crop. Last year, yields were affected by drought in Russia and Ukraine and by flooding in Canada.
Wheat futures for May delivery retreated by 3.8 per cent Tuesday, to $8.70 a bushel on the Chicago Board of Trade. A day earlier, the price touched $9.15 a bushel, its highest since Aug. 22, 2008.
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Charles Krauthammer - Obama's Louis XV budget
Charles Krauthammer - Obama's Louis XV budget
To prove his bona fides, he later appointed a deficit reduction commission. It made its report last December, when the economy was well past recession, solemnly declaring that "the era of debt denial is over."
That lasted all of two months. The president's first post-commission budget, submitted Monday, marks a return to obliviousness. Even Erskine Bowles, Obama's Democratic debt commission co-chair, says it goes "nowhere near where they will have to go to resolve our fiscal nightmare."
The budget touts a deficit reduction of $1.1 trillion over the next decade.
Where to begin? Even if you buy this number, Obama's budget adds $7.2 trillion in new debt over that same decade.
But there's a catch. The administration assumes economic growth levels higher than private economists and the Congressional Budget Office predict. Without this rosy scenario - using CBO growth estimates - $1.7 trillion of revenue disappears and U.S. debt increases $9 trillion over the next decade. This is almost $1 trillion every year.
Five days before his inauguration, President-elect Obama told The Post that entitlement reform could no longer be kicked down the road. He then spent the next two years kicking - racking up $3 trillion in new debt along the way - on the grounds that massive temporary deficit spending was necessary to prevent another Great Depression.
To prove his bona fides, he later appointed a deficit reduction commission. It made its report last December, when the economy was well past recession, solemnly declaring that "the era of debt denial is over."
That lasted all of two months. The president's first post-commission budget, submitted Monday, marks a return to obliviousness. Even Erskine Bowles, Obama's Democratic debt commission co-chair, says it goes "nowhere near where they will have to go to resolve our fiscal nightmare."
The budget touts a deficit reduction of $1.1 trillion over the next decade.
Where to begin? Even if you buy this number, Obama's budget adds $7.2 trillion in new debt over that same decade.
But there's a catch. The administration assumes economic growth levels higher than private economists and the Congressional Budget Office predict. Without this rosy scenario - using CBO growth estimates - $1.7 trillion of revenue disappears and U.S. debt increases $9 trillion over the next decade. This is almost $1 trillion every year.
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The State of America: HEADLINES
Headlines in America:
- Obama: Is he working on solving America's problems or his re-election?
- Oil production: When should we start drilling again - now or never?
- Tea Party: Are they terrorists?
- Fiscal Problems: Are politicians a solution or part of the problem?
- Immigration: Killing continues on Mexican Border
- Borrowing $ billions from foreign governments $
- Fighting and killing in Afghanistan
- Bombing and killing in Libya $
- Middle East on fire
- Iran developing nuclear weapons
- Value of the American dollar $ declining $
- Value of Gold $ increasing $
- Food prices $ increasing $
- Oil prices $ increasing $
- Food converted to fuel American cars
- States in budget fiscal crisis $
- Health Care costs increasing $
- Federal debt increasing by trillions $
- Americans living on food stamps $
- Payroll taxes increasing $
- Obama wants to increase taxes $
- Federal Reserve causing inflation $
- World Food prices increasing $
- More federal regulations being written for Health Care
- Congress and Obama negotiating our future
- Home foreclosures not declining
- Jobless claims not declining
- Royal wedding
- Fannie Mae & Freddie Mac needing more billions $
- Labor union unrest continues
Life, Liberty, & the Pursuit of Happiness
Medicare Should Evolve
Why shouldn't Medicare get out of the business of making direct payments for medical services and just become an agency that solicits and discusses with private insurance's companies to proliferate the number of policies, choices, options, and plans available to people in the market.
Medicare should not be negotiating prices with doctors hospitals and drug companies. They should just be negotiating with the insurance companies.
Life, Liberty, & the Pursuit of Happiness
Medicare should not be negotiating prices with doctors hospitals and drug companies. They should just be negotiating with the insurance companies.
Life, Liberty, & the Pursuit of Happiness
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