Tag: Economy
Balanced Budget Amendment Fails
When I – along with 86 of my Freshmen colleagues – were elected a little more than a year ago, we pledged to change the conversation in our Nation’s Capital. Despite today’s failed resolution, I believe we have changed that conversation.
Rep. Allen West (R/Tea – Fla.), expressing his disappointment that the balanced budget amendment failed in the House, and co-opting the term, “change the conversation.” Tea partiers weren’t sent to Congress to change the conversation, they were sent to take action. Changing the conversation is the aim of the Occupy movement, which has successfully changed it from the made-up deficit crisis to income inequality and socializing risk.
Amazing Image of Occupy Protester Sprayed by Police
This incredible photo of a woman being pepper-sprayed by riot police in Portland was taken by Randy L. Rasmussen for The Oregonian. Occupy protesters were gathering to march across a bridge at the time. Witnesses said the young woman ran blindly into the crowd and vomited immediately after the police action.
Census Poverty Figures Show Things are Worse Than We Knew
The American poverty rate is even higher than we knew, according to a new method used by the U.S. Census Bureau. The more realistic calculation puts about 16 percent of Americans at or below poverty level, compared with 15.2 percent under the standard model.
Acting on recommendations from the National Academy of Sciences, the Census Bureau designed the new measure to capture the impact of many forms of non-cash public assistance, such as food stamps, housing subsidies and energy assistance…The alternative calculation also takes into account geographic differences in prices.
Not all groups are affected equally. Those with fewest means to improve their incomes are in the most trouble. I’m talking about your grandparents or parents.
The new measure had a major impact on poverty rates among the elderly, in part because they have large medical expenses. While Social Security keeps many of them just over the poverty line, health care costs can easily pull them under, Short said. Some 15.9% of senior citizens are considered poor, up from 9% under the official rate.
Things would be even worse without the assistance.
Six temporary safety net programs that originated in the 2009 stimulus act helped keep 7 million people out of poverty, said Arloc Sherman, a senior researcher at the Center on Budget and Policy Priorities, citing the new Census report. These include three new or expanded tax credits, two enhancements of unemployment insurance, and expanded food stamp benefits.
These programs are all facing cuts in the ginned up deficit crisis.
Despite Republican Efforts, The Economy is Improving Again
80,000
Number of new jobs added in October, lowering unemployment to 9%. Republicans will need to act soon if they are going to sabotage the economy again. Look for attempts to stall the Congressional “Super Committee” that convenes soon to lower the deficit.
Perry’s Texas, Hunstman’s Family Company Taking Taxpayer Millions
If there’s anything Republicans enjoy, it’s deriding the Affordable Health Care Act, or as they sneer, “Obamacare.” So who do you think was first in line to scarf AHCA funds that help early retirees?
That would be Gov. Rick Perry’s own Texans, followed by employees of Huntsman International, owned by the family of Jon Huntsman. Both men, of course, are running for president against Obama.
If you’ve ever wondered how wealth travels upward from the 99% to the top, here’s a vivid illustration.
“Some people have described this program as ‘Cash for Clunkers,’ in the sense that if you want it, you have to get in line first,” said Paul Fronstin, an economist with [nonpartisan Employee Benefit Research Institute]. “There was a lot of advice given to be first in line.”
…Texas, it seems, heeded the advice. So did Huntsman International.
Hippies? Seriously? Bill Maher Breaks It Down
They aren’t hippies. “They don’t want free love, they want paid employment.”
99% Advocate Shows How to Talk to FOX
Masterful job by Susannah Lindberg Randolph, activist and wife of Florida Rep. Scott Randolph (D-Orlando), in refusing to be run over by the FOX News anchor or the tea party representative. If you need talking points to defend the 99% movement, here’s your model.
