Hardliners in Debt Talks Have Debt Problems of Their Own
Republican Senator Mike Lee of Utah.
So only a crackpot would question hypocrisy? Looks like the Tea Party is projecting a bit. CNN reports:
They’re hard-charging, compromise-damning members of Congress, and they’ve changed the debate in Washington over the size and spending of the government.
In recent days, Republican hard-liners in the debt ceiling talks have been vociferous in their rhetoric.
At a tea party rally, Sen. Mike Lee of Utah said his faction needs to push forward a balanced budget amendment and other measures “… in order to save our country from a Congress that for decades has been burying our children and our grandchildren, both born and unborn, under a mountain of debt.”
But according to recently released disclosure forms, Lee and others in his caucus have some significant personal debt of their own.
The documents — annual personal financial disclosure forms that were released in June — show that Lee had amassed at least…
Dooming Ourselves Deeper Into Debt
Aaron Cynic writes at Diatribe Media:
The showdown over the budget and the debt ceiling continues to drag on and Congress is still attempting to cut spending down to nothing but defense, tax breaks for the wealthy and their own salaries. While politicians continue to rail against taxes and spending and the media hypes the “gang of six”, it seems that we’re quietly moving past an interesting historical marker. Ten years ago, former President George W. Bush signed the first round of tax cuts and the Treasury Department began to borrow billions in order to pay for them.
Think Progress reports that on August 1, 2001, the AP ran a story on the Treasury announcing its intent to borrow $51 billion to cover the tax rebate checks handed out by the Bush Administration. In addition, the article highlighted the Democratic argument against the Bush tax cuts: “Democrats argued that President Bush’s $1.35 trillion…
Austerity For Everyone, Except The Defense Industry
Aaron Cynic writes at Diatribe Media:
While Congress and the President fight it out over the debt ceiling and all of America quietly shudders over whether our economy will completely default on itself, at least one industry still hums along without a care in the world.
Amidst a fiscal crisis of apparently apocalyptic proportions, where the GOP demands dollar for dollar spending cuts from the budget in order to raise our debt limit, the Pentagon asked Congress for $264 million to cover part of a $771 million overrun on the F-35 program. The Hill reports Republican Senator John McCain let the news slip via Twitter, saying “Congress notified that first F-35 jets have cost overruns of $771M. Outrageous! Pentagon asking for $264M down payment now. Disgraceful.”
Leaders of the program Lockheed Martin spat back on Twitter, contending “The F-35 team is focused on reducing costs of the jets and is showing significant improvement in…
Congressman Paul Ryan Hands Cold War Victory to the Ruskies
Well, there it is folks. Plain as day: Wisconsin Congressman Paul Ryan’s “Roadmap to Ruin” austerity program sh*tcanned the U.S. Spaceshuttle program and left us dependent upon the charity of ex-KGB chief Vladimir Putin.
No you wouldn’t hear much about that from the Fox News(tm) Politburo. Seems that we have to rely on our Aussie cousins to get the scoop.
It’s true. Now without an independent space program of our own, we’ll be at the tender mercies of the apparatchiks in Moscow to support our telecommunications satellite infrastructure.
Now I don’t have definitive proof yet that Paul Ryan is a sleeper agent for Uncle Vanya, but all signs point to yes. In debt ceiling talks this week his lot are trying to force American-born grandmothers to give up their cat food money in order to support the vodka habits of his Wall Street buddies like Frenchman “Fabulous” Fab Torre.
GOP Hopes To Slash Funding For Mass Transit, Biking, Walking
What’s the wave of the future of transportation? Highways! At least that’s the case according to our Republican-controlled Congress, who are eager to wipe out federal funding of public transit and bike- and pedestrian-friendly infrastructure with a new six-year transportation bill. Streetsblog writes:
There has been speculation for months now that the House Republicans’ transportation bill proposal would be terrible for transit, biking, and walking. And sure enough, John Mica didn’t disappoint. The proposed bill, which has a working title of “A New Direction,” is decidedly pro-highway and anti- just about everything else.
The chair of the House Transportation and Infrastructure Committee yesterday released a six-year reauthorization proposal that would slash overall transportation funding 33 percent and eliminate dedicated funds for biking and walking.
Dylan Ratigan Interviews Ron Paul on this U.S. ‘Debt Crisis’ (Video)
Via the Dylan Ratigan Show:
Ron Paul Won’t Seek Congressional Term In 2012
Ron Paul has declared that he’s all-in for his presidential bid. (Judging by a recent survey, he may very well stand a chance). John Tompkins writes for The Facts:
After serving almost 24 years in the U.S. House of Representatives, Congressman Ron Paul told The Facts exclusively this morning he will not be seeking another term for the District 14 seat.
Paul, 75, will instead focus on his quest for the presidency in 2012. “I felt it was better that I concentrate on one election,” Paul said. “It’s about that time when I should change tactics.”
His announcement will give enough time for anyone with aspirations for his seat to think about running, he said. Paul didn’t want to wait for filing in the 2012 primary to let people know he wasn’t seeking reelection.
“I didn’t want to hold off until in December,” he said. “I thought it shouldn’t be any later than now.”…
Senator Orrin Hatch To Poor: Do More For The Rich
Aaron Cynic writes at Diatribe Media:
According to Senator Orrin Hatch (R-Utah), the poor and middle class aren’t doing enough to share the economic burden in America. In a speech on the Senate floor, the 77 year old Republican, whose net worth is estimated from $2 to $5 million and takes in a $174,000 per year salary from the Senate, said that the poor “need to share some of the responsibility” of the deficit, and that he preferred the Republican approach of “shared prosperity.”
Hatch went on to say that “51 percent of wage earners, of all households, do not pay income taxes.” He attempted to clarify a few sentences later, saying that payroll taxes were the same thing as social security taxes.
Senator Hatch appears deeply out of touch with exactly what “poor” people endure and where most of the federal budget goes. The richest Americans Hatch felt the need to so quickly defend…
Major Corporations To Hide Income Disparity
Aaron Cynic writes at Diatribe Media:
A group of 81 major corporations believe that public knowledge of what their CEOs make in respect to the average worker is “useless” information. The Washington Post reports that more than a year ago (H/T Alternet), some of America’s biggest corporate movers and shakers began lobbying Congress to force changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act, so companies needn’t bother disclose the wage gulf between executives and workers. A House committee approved the bill 33–21.
Rep. Nan A.S. Hayworth (R-NY), who sponsored The Burdensome Data Collection Relief Act (HR1062), said comparing a CEO’s wage to the average worker could “mislead or confuse investors” and that such a comparison “creates heat but sheds no light.” Tim Bartl, senior vice president and general counsel for the Center on Executive Compensation asked “You can already tell where a CEO falls relative to his peers, you can…
Millions for Defense; Not One Cent for Tribute
Oh how the times have been a changin’ since Robert Goodloe Harper coined that gem in 1798. In the 21st century, apparently, patriotism means stealing hundreds of billions from the U.S. Treasury to bailout incompetent bankers, as “minute man” [1] Paul Ryan begged the House to do on September 29, 2008.
Okay, so as a nation we’re totally cool with recasting tribute to greasy financial fat cats as “investment” — even if it doesn’t exactly pay a huge return. [2]
But since “far left socialist” Barack Obama proposed cutting Social Security benefits during recent talks to increase the nation’s debt ceiling (to much Republican enthusiasm), making sure Granny gets her catfood money has also been redefined as “wanton profligacy”. Ah, sure, the ol’ gal only had another ten years left in her TOPS anyways, right?
America, you are a pack of perverts. [3]
Check Out Ron Paul’s Stock Portfolio (and for Other Members of Congress)
From Linette Lopez’s article in Business Insider. Here’s what Ron Paul does and full article here.
Well, this is predictable …Today members of Congress had to reveal their stock holdings. We were curious what anti-Fed, pro-gold Congressman Ron Paul held, and no surprise, he likes gold. Lots of it. Here are the stocks he owns:
Agnico Eagle Mines; Alumina Common; Anglo Gold Ashanti Ltd.; BrigusGold Corp. Com MPV (formerly Apollo Gold Corp); Barrick Gold Corp.; Claude Research Inc; Coeur D’Alene Minds Corp.; Gold Corp Inc; El Dorado Gold Corp.; IAM Gold Corp.; Kinross; Lexam Explorations Inc.; Mag Silver Corp.; Metalline Mining Co.; Mutual Securities Inc.; Newmont Mining Corp.; Pan American Silver; Petrol Oil and Gas; Silver Wheaton Corp; Virginia Mines Inc.; Vista Gold Corp.; Viterra Inc; Wesdome Gold Mines Ltd.; Allied Nevada Gold Corp.; Hecla Mining Co.
Looks like he’s doing well these days.
Click here to see what some of his fellow Representatives are holdings…
John Abarr, Former Ku Klux Klansman, Running For Congress in Montana To ‘Save The White Race’
Christine Roberts writes in the New York Daily News:
A former organizer for the Ku Klux Klan announced Wednesday that he will run as a Republican for Montana’s U.S. House seat.
John Abarr, 41, says he wants to run in response to the election of the America’s first black President in effort to “save the white race.”
“I am running to draw attention to the fact that white people are becoming a minority and losing our political power and way of life,” he said.
Abarr is running on a platform of legalizing marijuana, increasing mental health programs, keeping abortion legal and abolishing the death penalty.
Why Are Democrats So Weak? Thoughts on the Weiner ‘Scandal’ (Video)
Rachel Maddow speaks with Cenk Uygur of the Young Turks who has plenty to say:
How The Top 10 Military Contractors Lobby In Tandem
Irregular Times discovers the beautiful geometry of evil cronyism:
Tightly connected. Massively funded. Working for war. This is what the peace movements are up against. Together, the top ten federal contractors, all working for the military, received $138.4 Billion in taxpayer funds through federal contracts during fiscal year 2010. In the first three months of 2011 alone, these ten corporations paid for the services of no fewer than 109 different lobbying firms, deployed to Capitol Hill along with their own in-house corporate lobbyists. A line is drawn between any two military contractors if they both hired the services of at least one lobbying firm in common; the number indicates the number of lobbying firms hired in common:
President Obama Claims War Powers Act Does Not Apply to Libya
WTF, Obama … Charlie Savage and Mark Landler report in the NY Times:
The White House, pushing hard against criticism in Congress over the deepening air war in Libya, asserted Wednesday that President Obama had the authority to continue the military campaign without Congressional approval because American involvement fell short of full-blown hostilities.
In a 38-page report sent to lawmakers describing and defending the NATO-led operation, the White House said the mission was prying loose Col. Muammar el-Qaddafi’s grip on power.
In contending that the limited American role did not oblige the administration to ask for authorization under the War Powers Resolution, the report asserted that “U.S. operations do not involve sustained fighting or active exchanges of fire with hostile forces, nor do they involve U.S. ground troops.” Still, the White House acknowledged, the operation has cost the Pentagon $716 million in its first two months and will have cost $1.1 billion by…
Music Video Parodies Weiner Scandal
Rep. Anthony Weiner announced today that he did indeed tweet the lewd picture of himself, as well as engage in various inappropriate conversations with other women. (Read more about his press conference at The Hill) As you sit and contemplate the use of social networks in political scandals, here is a music video about Weiner’s ‘accidental’ Twitter post in the parody form of SNL’s “Dick in a Box”:
Is Ron Paul The New Chuck Norris?
International Business Times reports:
Move aside, Chuck Norris, Ron Paul Facts is now in.
Ron Paul, a Texas Congressman and 2012 presidential hopeful, has inspired a fiercely loyal following around the country with his straight-talking Libertarian approach.
The Federal Reserve? End it! … Income taxes? Don’t need it! … Troops abroad? Send them home! … The UN and NATO? Pull out of them!
On the Internet, Ron Paul is king. Back in the 2008 Republican presidential primaries, he became known for winning virtually every single internet and text message poll. This ardent online support in has spawned the “Ron Paul Facts” in 2011.
Below are some “facts” about Ron Paul, taken from the Ron Paul Facts website.
Ron Paul has no alarm clock, but instead wakes every morning to the call of freedom.
Ron Paul doesn’t go the gym. He stays fit by exercising his civil rights.
Ron Paul delivers babies without his hands. He simply reads them the Bill…
The U.S. Congress Does ‘Abnormally’ Well in the Stock Market
This should be more troubling, but it feels like business as usual in Washington. Dan Foomkin writes on the Huffington Post:
Members of the House of Representatives considerably outperform the stock market in their personal investments, according to a new academic study.
Four university researchers examined 16,000 common stock transactions made by approximately 300 House representatives from 1985 to 2001, and found what they call “significant positive abnormal returns,” with portfolios based on congressional trades beating the market by about 6 percent annually.
What’s their secret? The report speculates, but does not conclude, it could have something to do with the ability members of Congress have to trade on non-public information or to vote their own pocketbooks — or both.
A study of senators by the same team of researchers five years ago found members of the higher chamber even better at beating the market — outperforming it by about 10 percent, an amount the academics…
YouTube Launches ‘Town Hall’
Time to trade in your soap box for a viral video. The Raw Story reports:
YouTube on Wednesday launched a “Town Hall” website at which US congressional leaders address issues in brief videos and viewers get to show which positions they support.
Republicans monopolized top slots in a “leaderboard” at the online forum for debating topics from energy and debt to health care and Afghanistan.
However, rankings were shifting quickly at the freshly launched website designed to let top US politicians indirectly debate important issues and then have viewers vote for preferred positions.
While the people in the videos are identified, their party affiliations are not revealed until after a viewer has chosen a side.
“How would you vote if you focused purely on the ideas needed to make our country and our world a better place, rather than on the parties putting them forward?” Will Houghteling of YouTube News and Politics asked in a blog…
