Tuesday, December 21, 2010

One of the MOST SIGNIFICANT SPEECHES in the US History.

One of the MOST SIGNIFICANT SPEECHES in the US History.




By Sen Bernie Sanders
http://www.youtube.com/watch?v=H5OtB298fHY

War between Rich & Poor -- Americans' new reality

Whatever Obama and the FED is doing is making "Wealth disparity" greater than ever before.

This happened since Bush & 911.

The Obama duping Americans and running up 1 trillion of US Debt is another example.






What do you expect when millions of Americans are going bankrupted and over 50 millions of Americans are on food stamp and assistance.

  • More people tapped food stamps to pay for groceries in September as the recession and lackluster recovery have prompted more Americans to turn to government safety net programs to make ends meet.

    Some 42.9 million people collected food stamps last month, up 1.2% from the prior month and 16.2% higher than the same time a year ago, according to the U.S. Department of Agriculture.

    Nationwide 14% of the population relied on food stamps as of September but in some states the percentage was much higher. In Washington, D.C., Mississippi and Tennessee – the states with the largest share of citizens receiving benefits – more than a fifth of the population in each was collecting food stamps.

    http://blogs.wsj.com/economics/2010/12/08/food-stamp-rolls-continue-to-rise/



US October Net Capital Inflow Falls, China Still Buyer
| 15 Dec 2010 | 10:05 AM ET

Foreigners cut their purchases of U.S. securities in October, though China still raised its massive U.S. government debt holdings to an 11-month high above $900 billion, the U.S. Treasury Department said on Wednesday.

The United States attracted a net long-term capital inflow of $27.6 billion in October, compared to a downwardly revised $77.2 billion inflow the prior month.

Net overall capital inflows, which include short-term instruments such as Treasury bills, fell to $7.5 billion, from a downwardly revised $80.1 billion in September.

Net foreign purchases of Treasurys fell, though China, the United States' largest foreign creditor, increased Treasury purchases by $23.3 billion to $906.8 billion, the highest since November 2009.

http://www.cnbc.com/id/40677385/





Obama should have kept his promise!!!!

Bush tax-cut from the beginning was a scam as we can see what has happened to America and Americans -- when greed defraud mass, it does not make any difference except long term disaster.

http://cnn.com/video/?/video/bestoftv/2010/12/13/ac.kth.obama.tax.cuts.cnn

THE GREED FOOLS MASS with mass, deceptive propaganda!!!
Don't be fooled!



http://cnn.com/video/?/video/bestoftv/2010/12/13/ac.kth.obama.tax.cuts.cnn






What do you expect when millions of Americans are going bankrupted and over 50 millions of Americans are on food stamp and assistance.

  • More people tapped food stamps to pay for groceries in September as the recession and lackluster recovery have prompted more Americans to turn to government safety net programs to make ends meet.

    Some 42.9 million people collected food stamps last month, up 1.2% from the prior month and 16.2% higher than the same time a year ago, according to the U.S. Department of Agriculture.

    Nationwide 14% of the population relied on food stamps as of September but in some states the percentage was much higher. In Washington, D.C., Mississippi and Tennessee – the states with the largest share of citizens receiving benefits – more than a fifth of the population in each was collecting food stamps.

    http://blogs.wsj.com/economics/2010/12/08/food-stamp-rolls-continue-to-rise/



US October Net Capital Inflow Falls, China Still Buyer
| 15 Dec 2010 | 10:05 AM ET

Foreigners cut their purchases of U.S. securities in October, though China still raised its massive U.S. government debt holdings to an 11-month high above $900 billion, the U.S. Treasury Department said on Wednesday.

The United States attracted a net long-term capital inflow of $27.6 billion in October, compared to a downwardly revised $77.2 billion inflow the prior month.

Net overall capital inflows, which include short-term instruments such as Treasury bills, fell to $7.5 billion, from a downwardly revised $80.1 billion in September.

Net foreign purchases of Treasurys fell, though China, the United States' largest foreign creditor, increased Treasury purchases by $23.3 billion to $906.8 billion, the highest since November 2009.

http://www.cnbc.com/id/40677385/





$860 billion tax-cut deal: Cost breakdown
By Jeanne Sahadi, senior writer
December 10, 2010: 05:03 PM EST
The Senate version of the tax-cut deal brokered by the White House and Republicans earlier this week is estimated to cost roughly $860 billion.

The Senate will take its first vote on the bill on Monday.

But even if the Senate passes the bill, House passage is far from guaranteed given many House Democrats' bitter opposition to the compromise framework in its current form. Unless they're allowed to make key changes, they have said they will not bring the bill to the House floor.

The White House, meanwhile, has said if any major changes are made, the whole deal could unravel.

About half of the measures in the tax-cut bill might be considered new short-term stimulus, meaning they may add to the deficits for two more years, but could help maintain the economic recovery and help spur economic activity and job creation.

Of course, there is some disagreement over just how stimulative some of the measures will be.

Many economists, for instance, don't consider an extension of the Bush tax cuts stimulus, because it merely keeps current rates in place. But letting taxes go higher, they say, could impede growth.

Several other measures are intended as pro-growth stimulus, including a break on how much is deducted from workers' paychecks for Social Security and tax incentives to encourage businesses to step up their investments.

Deficit hawks have been saying that a short-term run-up in debt would be acceptable if it is paired with a serious long-term deficit-reduction plan.

The proposed deal skips that last part, though the president has said he and his budget team will review the recommendations for debt reduction made last week by his debt panel. In particular, he said he would pursue tax reform, a key element in the debt panel's plan.
Nevertheless, deficit hawks said the tax-cut deal without any formal commitment to debt reduction is "utterly exasperating."

Following is a breakdown on some of the key measures and their costs, based on revenue estimates from the Joint Committee on Taxation, unless otherwise noted.

Bush tax cuts: $544.3 billion. The package would extend the Bush tax cuts for everyone for two years.

The bulk of that cost -- $463 billion -- is for the extension of cuts for families making less than $250,000, including two years of relief for 2010 and 2011 for the middle class from the Alternative Minimum Tax.

The rest -- $81.5 billion -- is attributable to the extension of cuts that apply to the highest income families.

The cost of extending all the tax cuts over 10 years would have been $3.7 trillion.

Unemployment benefits: $56.5 billion. The package would also leave in place for 13 months the option to file for extended federal unemployment benefits -- which go as high as 99 weeks in states hit hardest by job loss. The Congressional Budget Office estimates the measure would cost $56.5 billion.

Social Security tax break: $111.7 billion. The package would also offer workers a payroll tax holiday worth 2 percentage points next year, so that instead of paying 6.2% on their first $106,800 of wages, they will only have to pay 4.2%. The measure would cost $112 billion.

Individual tax credits: $8.3 billion. The compromise framework would also extend for two years the increased value of a number of tax credits that benefit low- and middle-income tax filers, such as the earned income tax credit, the child credit and a revamped tax credit for college costs. The measure would cost $8 billion.

Business tax breaks: $69 billion. The bill contains more than 40 business tax breaks. Some, like an extension of the research and development credit, has drawn bipartisan support and is typically renewed annually. But also included are roughly $11 billion worth of energy credits and a new temporary option for businesses to write off 100% of their expenses in 2011. That measure would cost $21 billion.





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