Uncomfortable Lindsey Graham
Posted by Tony Coladangelo in For Liberty, General comments, Policy, Power, Southern Avenger on August 30th, 2010
Savers Pay U.S. Banks to Keep Cash as Rates Dip, Fees Multiply
Posted by Tony Coladangelo in Financial, General comments, Policy, Taxes on August 30th, 2010
Savers Pay U.S. Banks to Keep Cash as Rates Dip, Fees Multiply
Submitted by bobbyw24 on Mon, 08/30/2010 – 07:54
in
* Economy
It’s getting tougher for U.S. savers to find a bank where they won’t end up paying to keep their money safe.
The average interest paid on savings, checking, money-market and certificate of deposit accounts fell to 0.99 percent in July, the first dip below 1 percent in a decade, according to researcher Market Rates Insight. Banks also have been raising fees and adding new ones, most recently in response to the financial-services overhaul bill that became law July 21.
The result is that an increasing number of savers are seeing their deposit earnings eaten up by charges. That’s frustrating people like Ken Ward, who recently passed on a savings account with a 0.01 percent interest rate at the Chase bank branch near his home in Wantagh, New York.
“We went to Chase because of the convenience,” said Ward, 57, a stock-loan trader who was helping his daughter find a place to tuck away $10,000. “But with those rates, we might as well put it in the mattress and then at least we won’t be charged any fees.”
Had they gone with the Chase savings account, it would have paid about $1 in annual interest. Potential fees included $4 if the balance fell below $300, $2 for each non-Chase ATM withdrawal and $3 for each withdrawal after making more than four withdrawals in a monthly statement cycle.
Ward said he and his daughter settled on a 13-month Chase CD paying 0.75 percent, and will look for a better alternative when it matures.
Following Fed Lower.
Read more at Bloomberg.com
Record Number of Americans in Government Anti-Poverty Programs
Posted by Tony Coladangelo in Economy, Financial, General comments, Policy, Taxes on August 30th, 2010
Record Number of Americans in Government Anti-Poverty Programs
Submitted by bobbyw24 on Mon, 08/30/2010 – 07:47
in
* Economy
By Richard Wolf, | USA TODAY
WASHINGTON — Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand.
More than 50 million Americans are on Medicaid, the federal-state program aimed principally at the poor, a survey of state data by USA TODAY shows. That’s up at least 17% since the recession began in December 2007.
POLITICS: Welfare agencies boost voter rolls
“Virtually every Medicaid director in the country would say that their current enrollment is the highest on record,” says Vernon Smith of Health Management Associates, which surveys states for Kaiser Family Foundation.
The program has grown even before the new health care law adds about 16 million people, beginning in 2014. That has strained doctors. “Private physicians are already indicating that they’re at their limit,” says Dan Hawkins of the National Association of Community Health Centers.
More than 40 million people get food stamps, an increase of nearly 50% during the economic downturn, according to government data through May. The program has grown steadily for three years.
Caseloads have risen as more people become eligible. The economic stimulus law signed by President Obama last year also boosted benefits.
“This program has proven to be incredibly responsive and effective,” says Ellin Vollinger of the Food Research and Action Center.
Close to 10 million receive unemployment insurance, nearly four times the number from 2007. Benefits have been extended by Congress eight times beyond the basic 26-week program, enabling the long-term unemployed to get up to 99 weeks of benefits. Caseloads peaked at nearly 12 million in January — “the highest numbers on record,” says Christine Riordan of the National Employment Law Project, which advocates for low-wage workers.
More at USA TODAY
Inflation Deflation Debate Rages on: 2010 Economic Collapse
Posted by Tony Coladangelo in Economy, Financial, For Liberty, General comments, Policy, Power, Taxes on August 29th, 2010
The Southern Avenger: Iraq and the Big Picture
Posted by Tony Coladangelo in For Liberty, General comments, Policy, Power, Southern Avenger, War on August 26th, 2010
Ron Paul: Dollar Would Be Stronger Without the Fed
Posted by Tony Coladangelo in Economy, Financial, For Liberty, General comments, Policy, Power, Ron Paul, Taxes on August 26th, 2010
The Southern Avenger- Amen to the Imam
Posted by Tony Coladangelo in For Liberty, General comments, Southern Avenger on August 26th, 2010
Movement in Senate races largely favor Republican candidates like Rand Paul
Posted by Tony Coladangelo in For Liberty, General comments, Policy, Power, Rand paul on August 20th, 2010
Movement in Senate races largely favor Republican candidates like Rand Paul
Submitted by bobbyw24 on Fri, 08/20/2010 – 06:18
in
* Rand Paul 2010
Movement in poll averages for eight Senate races over the last week overwhelmingly favored Republican candidates, affirming the prevailing wisdom that a stiff wind is blowing and gaining force that will make the elections this fall very difficult for Democrats.
The GOP still faces an enormous uphill climb to take back control of the Senate. Republican candidates lead in only 5 of the 10 Democratic-held seats they would need to win to gain the majority. But a Republican Senate is not outside the realm of possibility, since their candidates are within striking distance in enough races that a perfect storm could sweep them in.
Two Democrats – Senate Majority Leader Harry Reid of Nevada and Connecticut Attorney General Richard Blumenthal – saw their leads over Republican candidates reduced. Florida Gov. Charlie Crist, who is running as an independent but is expected to caucus with Democrats if he wins and they retain the majority – also saw his lead over Tea Party favorite Marco Rubio downsized. And four Republican candidates saw their advantages increase.
One Republican candidate – Rep. Mark Kirk of Illinois – saw his slim 2.3 point lead of a week ago, as measured by the Real Clear Politics average, dissolve. RCP moved Kirk’s contest with Democrat Alexi Giannoulias, the state treasurer who benefitted from President Obama’s Aug. 5 fundraiser, to a toss up.
But Republican candidates in Kentucky, Missouri, Ohio and Pennsylvania all extended their leads against Democratic opponents.
Physician Rand Paul’s lead over Kentucky Attorney General Jack Conway, measured by the average of all polling on the race, went from 6.5 percent to 8.2 percent. Rep. Roy Blunt went from 5.7 percent to 6.7 percent ahead of Missouri Secretary of State Robin Carnahan.
Former Bush White House budget director Rob Portman increased his lead over Ohio Lt. Gov. Lee Fisher, from 1.8 percent to 3 percent. And in Pennsylvania, former Congressman Pat Toomey saw a sizable jump in his lead over Rep. Joe Sestak, going from 2 percent up to a 5.6 percent advantage.
Reid, despite having spent millions of dollars in a furious attack on Republican Sharron Angle, a former state legislator, saw his lead slip from 2.5 percent to 1.5 percent. Both pollsters who have consistently surveyed on this race, the Las Vegas Review Journal and Rasmussen Reports, have tracked Reid’s trajectory as behind for most of the year until July, then losing ground over the last few weeks.
Angle is a former state legislator who many — including one of the Republicans she defeated in the primary — believe is one of the few candidates capable of losing to Reid, who is especially unpopular among many voters in his state. Yet while Reid has done an effective job of defining Angle by using her most unusual or extreme remarks against her, he has failed to deliver a knockout punch.
In Connecticut, Democrats wasted no time in going after Republican candidate Linda McMahon after she won her Aug. 10 primary last week. Democrats lobbed YouTube videos by the dozens showing McMahon engaging in all kinds of antics during her time as CEO of World Wrestling Entertainment.
Read more: http://dailycaller.com/2010/08/20/movement-in-senate-races-largely-favor-republican-candidates/#ixzz0×9lDuUgx
Ron Paul tells Newsmax TV: “Depression Is Coming”
Posted by Tony Coladangelo in Economy, Financial, General comments, Policy, Taxes on September 2nd, 2010
Ron Paul tells Newsmax TV: “Depression Is Coming”
Submitted by bobbyw24 on Wed, 09/01/2010 – 10:10
in
* Daily Paul Liberty Forum
By: Dan Weil | Newsmax
Rep. Ron Paul, R-Texas, says depression looms for the economy and that failure to extend the Bush tax cuts for everyone would hasten the process.
“It will be devastating if the (tax) breaks aren’t renewed,” the 2008 presidential candidate told Newsmax.TV.
“That represents a tax increase. It’s the unknown hanging over the market,” he said. The Obama administration and many Democrats in Congress want to renew the cuts only for those with income of less than $200,000.
“I don’t understand how they can think that way. (But) when I see what they’ve done with the medical care bill and the financial reform bill, they’re capable of doing that,” Paul said.
Story continues below.
http://www.newsmax.com/InsideCover/ron-paulobamadepression-taxes/2010/08/30/id/368750
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