Europe was the center of the debt crisis in 2012, but America will be the epic story of debt crisis in 2013. The Fiscal Cliff resolution began a major global shift in focus about the political capability of Washington to address spending or any real debt reduction policies to address issues including entitlements. The final deal was only to deflect the massive tax increases as the extension on the Bush Era Tax Cuts were set to expire at the end of 2012. No spending measures were touched, and the actual deal will add trillions of debt over the next few years. The second item to shift focus was the short term debt limit increase to align with the upcoming sequester fight that Republicans could battle both together. A 105 day debt limit increased was passed by Congress this past week. The third item was the negative reduction in GDP in the 4th Quarter of 2012 as the expansion went into a contraction because of the financial stalemate over the Fiscal Cliff in Congress at the end of the … [Read more...]
Forget Europe: America debt crisis will become a stranglehold in 2013
NC Legislatures: Voters clash over Amendment One, NC economic news gets worse
This criticism is directly at the current political leadership in the General Assembly in North Carolina, Democrat, Republican, Independent party affiliation would not make any difference in this criticism. For example, Governor Beverly Purdue is a Democrat, and my professional association goes back to 2001 with Lt Governor Beverly Purdue in providing teaching bonuses via corporate donation for outstanding teachers in Wake County. My past experience was a pleasure and productive with the former Lt Governor. Governor Purdue did take office in the middle of a financial crisis in the economy and state budget system. Decisions were made by Governor Purdue to slice a budget politically with negative impact to the citizens of this state. My experience was going to the Division of Motor Vehicles in a rural part of North Carolina with staff and no customers, and two weeks later was required to obtain a duplicate copy of identification in Charlotte, NC. My license was not given … [Read more...]
Debt Situation in US- Is there an escape route?
Debt situation in US – Is there an escape route? By Grace Ruskin - Contributor The year 2012 is pitched to be an important year in US political scenario as well as economic one. Since the Presidential elections are scheduled to be held in November, the political decisions that will affect the economy need to be taken carefully. Dealing with government debt is not as easy as when you pay off debt with the help of debt relief services. Monetary policy can be called the great enabler which the central banks use in order to keep the interest rates at as low a level as possible for over a number of years. This has encouraged the politician to believe that sovereign debt is a lot cheaper than what it really is. David Stockman, the former Director of the Office of Management and Budget said that the politicians are not ready to take the tough steps that can impose pain, austerity and tough tradeoffs which are required to control this. However, things are changing in the current … [Read more...]
Drudge Report: Santorum needs a miracle
Santorum's Louisiana win does little to change the game of delegate math http://www.cnn.com/2012/03/24/politics/louisiana-primary/index.html?hpt=hp_t2 … [Read more...]
Worst Case Scenario for Republicans: President Obama
The recent win in Illinois by Mitt Romney may have statistically brought Romney closer to securing the Republican nomination, but that does not stop the controversy from raging. Some insiders who spoke anonymous on the discontent within the party had one question "why". Why are the Republicans not attacking Obama instead of each other? Why is the establishment so gun-ho over Romney no matter what the cost? Why is Romney so electable against Obama when he is spending 7 to 1 in the primary with not impressive results ? One Republican insider speaking on condition of confidentiality is concerned about the ill focus fight against President Obama. The Republican infighting is leaving a breach of disrepair in the party. This breach is distracting the one common goal to defeat President Obama. As the insider discussed, " all concerted efforts should be made against President Obama, but instead all concerted efforts are being made to destroy ourselves(Republican Party)." As the insider … [Read more...]
Friday’s twist on this week’s news
All in good fun on Friday...... Greg Smith wrote an Op-Ed piece in the NYT to explain his reasons for leaving Goldman. The accusations of corrupt, soulless beings sitting in the Goldman Tower in New York was SOME big news...The big news was the NYT allowing an Op-Ed piece by a disgruntled employee....NOT A WHISTLEBLOWER.... Mitt Romney is cutting expenses and staff on his campaign as the nomination process is taking longer than expected. Things are so bad in the Romney camp that Romney had to entertain some donors in New York. He walked away with $3 million dollars.....Do you think that the Romney's may need to apply for food stamps. $3 million dollars are hard times in the Romney household..... Newt Gingrich did not win any primaries this week.....Instead of bowing out....He receives Secret Service protection? WHAT? LAST ITEM....My mother was listen to the Gay XM, and she brought to my attention about Mitt Romney strapping a dog to the car for a family trip. The … [Read more...]
Marketwatch: Romney will edge out Santorum to win Ohio
We have some direction on the eventual endgame of the primary process. Or do We?' … [Read more...]
Romney and Santorum: Ohio is to close to call
Candidates notch wins as Ohio 'too close to call' Win Mcnamee / Getty Images Supporters of Republican presidential candidate, former Massachusetts Gov. Mitt Romney celebrate during a Super Tuesday event at the Westin Copley Place March 6, 2012 in Boston. By Michael O'Brien, msnbc.com Updated 10:52 p.m. ET — A hard-fought battle between Mitt Romney and Rick Santorum in Ohio yielded no quick winner in the state, the prize contest on Super Tuesday that could reshape the battle for the Republican presidential nomination. Both Romney and Santorum notched victories across the country in the caucuses and primaries they had been expected to win. Newt Gingrich won the primary in Georgia, the state from which he had served as a representative in Congress, but trailed in the remainder of states playing host to nominating contests on Tuesday. But the trajectory of the Republican campaign hinged in large part on Ohio, where Romney and Santorum re-litigated their battle from just … [Read more...]
