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Showing posts with label Austerity coming to America. Show all posts
Showing posts with label Austerity coming to America. Show all posts
Wednesday, June 8, 2011
Wednesday, June 1, 2011
Wednesday, May 18, 2011
Monday, May 16, 2011
Sunday, May 1, 2011
Geithner's Decade of Incremental Austerity
The worst is yet to come
Tony Cartalucci, Contributing Writer
Activist Post
Bangkok, Thailand May 1, 2011 - In a one hour April 26, 2011 talk before the Council on Foreign Relations(CFR), Secretary of the Treasury (and CFR member) Timothy Geithner laid out a frightening picture of America's economic future. Despite a myriad of metrics used to assure the audience that economic disaster had been averted before Geithner took to the podium, Geithner himself would stress the need for Democrats to cut back on programs while Republicans would need to rethink tax cuts as part of the long journey to real recovery.
Geithner specifically said, "this is a war of necessity. There is no alternative. Democrats have to understand that our capacity as a country to finance things Democrats believe in like education, like a minimal guarantee of protection in health care and the safety net, require demonstrating we can live within our means; and Republicans have to understand, of course, that deficits matter, that they are unsustainable and they hurt growth left unaddressed. Tax cuts don't pay for themselves." In other words, more taxes and less services would help repair damage caused by the reckless degenerate gambling dens lining Wall Street who were protected and facilitated by Washington and its band of ineffective, if not entirely nonexistent, regulators.
Geithner would go on to say that the "cuts and reforms" required to repair the economy "have to be phased in over time to avoid damaging the expansion. The biggest mistakes countries make in financial crises, apart from waiting too long to act in the face of the gathering storm, is they put on the brakes too early." Geithner continued, "they shift too prematurely to abrupt contraction-rate strategies that put at risk the incipient expansion. So you have to be -- you have to lock these reforms in, but you have to phase them in to reduce that risk to the economy as a whole."
Wednesday, April 27, 2011
US budget cuts mean no more ET monitoring
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SETI (Search for Extraterrestrial Intelligence) Institute © SETI Institute |
WASHINGTON (AFP) - A monitoring system for potential extraterrestrial communication has been shelved due to budget cuts, one of its partners said Tuesday.
With funding dried up, the SETI (Search for Extraterrestrial Intelligence) established in 1984, had to put the Allen Telescope Array (ATA) on an indefinite pause, the institute said in a letter.
The telescopes, at the Hat Creek Radio Observatory north of San Francisco, California, had been monitoring for potential messages beyond our planet.
"Effective this week, the ATA has been placed in hibernation due to funding shortfalls for operations of the Hat Creek Radio Observatory where the ATA is located," said a letter from Tom Pierson, CEO of SETI Institute.
Funding for HCRO had been cut to one tenth its former level, he said, noting that partners were being sought.
© AFP -- Published at Activist Post with license
Tuesday, April 19, 2011
Friday, April 15, 2011
Tuesday, April 12, 2011
Thursday, April 7, 2011
Sunday, April 3, 2011
Saturday, March 12, 2011
Wednesday, March 9, 2011
Wednesday, March 2, 2011
Friday, December 10, 2010
Social Security Payback Option Eliminated
Emily Brandon
U.S. News and World Report
Retirees will no longer be able to get an interest-free loan from the Social Security trust fund, the Social Security Administration announced today. Effective on December 8, retirees will not be able to pay back benefits already received in exchange for higher Social Security payments going forward. Here's a look at how the new Social Security rules could impact your checks.
Free Loans Eliminated
Little-known provisions of Social Security law previously allowed individuals to begin payments at age 62, pay back all the benefits received at age 70 without interest, and then reclaim at a higher rate due to delayed claiming. However, this claiming strategy, which is employed primarily by affluent households, costs the federal government and Social Security trust fund money. "The processing of these withdrawal applications is also a poor use of the agency's limited administrative resources in a time of fiscal austerity -- resources that could be better used to serve the millions of Americans who need Social Security's services," says the SSA in a statement.
Read Full Article
RELATED ARTICLE:
Banksters Are Coming For Your Retirement Next
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U.S. News and World Report
Retirees will no longer be able to get an interest-free loan from the Social Security trust fund, the Social Security Administration announced today. Effective on December 8, retirees will not be able to pay back benefits already received in exchange for higher Social Security payments going forward. Here's a look at how the new Social Security rules could impact your checks.
Free Loans Eliminated
Little-known provisions of Social Security law previously allowed individuals to begin payments at age 62, pay back all the benefits received at age 70 without interest, and then reclaim at a higher rate due to delayed claiming. However, this claiming strategy, which is employed primarily by affluent households, costs the federal government and Social Security trust fund money. "The processing of these withdrawal applications is also a poor use of the agency's limited administrative resources in a time of fiscal austerity -- resources that could be better used to serve the millions of Americans who need Social Security's services," says the SSA in a statement.
Read Full Article
RELATED ARTICLE:
Banksters Are Coming For Your Retirement Next
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Thursday, December 2, 2010
The Austerity Hammer Starts to Fall on United States as Debt Consumes Europe (VIDEO)
It's the Bankers or the People - You have been Warned!
Alex Jones and Aaron Dykes
InfoWars
Problem, Reaction, Solution: Derivatives, Crash, Too Big To Fail, Bailout, Nationalization, Budget Crisis, Privatization, Debt Slavery, Austerity, Evaporating Pensions, Central Banks, Big Government, World Government. It’s been quite a saga, but this economic crisis has been planned sabotage by design. The age of the Offshore Global Cartel is the age of economic warfare with the wealthy Western world. The 3rd World has largely already been brought to its knees. The remaining vestiges of national sovereignty must be eliminated and the middle class consumer society must be swept back to the feudal age by way of a tidal wave looting of living standards, cut wages & pensions, and the bread and circuses of cheap plastic goods and entertainment. The upper middle classes, the array of independent businesses, remaining lone giants and other true competition to the New World Order mafia economy system must be consolidated or dominated.
Alex Jones explains why it is the bankers or us will be free at the end of this crisis. The total cost of the derivatives is over $1.5 Quadrillion, a sum that will completely consume the world in perpetual debt, a sum that can never be repaid. It is an economic shearing, a shearing of the sheep. The economic crisis has always really been a complete transfer of power to the banking class.
Read Full Article
RELATED ARTICLE:
US Debt Woes Expose Hidden Austerity and Public Looting
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Alex Jones and Aaron Dykes
InfoWars
Problem, Reaction, Solution: Derivatives, Crash, Too Big To Fail, Bailout, Nationalization, Budget Crisis, Privatization, Debt Slavery, Austerity, Evaporating Pensions, Central Banks, Big Government, World Government. It’s been quite a saga, but this economic crisis has been planned sabotage by design. The age of the Offshore Global Cartel is the age of economic warfare with the wealthy Western world. The 3rd World has largely already been brought to its knees. The remaining vestiges of national sovereignty must be eliminated and the middle class consumer society must be swept back to the feudal age by way of a tidal wave looting of living standards, cut wages & pensions, and the bread and circuses of cheap plastic goods and entertainment. The upper middle classes, the array of independent businesses, remaining lone giants and other true competition to the New World Order mafia economy system must be consolidated or dominated.
Alex Jones explains why it is the bankers or us will be free at the end of this crisis. The total cost of the derivatives is over $1.5 Quadrillion, a sum that will completely consume the world in perpetual debt, a sum that can never be repaid. It is an economic shearing, a shearing of the sheep. The economic crisis has always really been a complete transfer of power to the banking class.
Read Full Article
RELATED ARTICLE:
US Debt Woes Expose Hidden Austerity and Public Looting
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Monday, November 29, 2010
Citing deficit, Obama freezing federal worker pay
Julie Pace
Associated Press
WASHINGTON — President Barack Obama announced a pay freeze for 2 million federal employees Monday and warned the American public that the move is the first of many difficult decisions that must be made to slash the nation's mounting deficits.
"The hard truth is that getting this deficit under control is going to require some broad sacrifice, and that sacrifice must be shared by the employees of the federal government," Obama said.
The two-year freeze would apply to all civilian federal employees, including those working at the Department of Defense, but would not affect military personnel. The freeze is expected to save more than $5 billion in savings over two years, $28 billion over five years and more than $60 billion over 10 years, White House officials said.
Congress is not covered by Obama's order, but lawmakers voted last April to freeze their pay, with the House and Senate opting to forgo an automatic $1,600 annual cost-of-living increase. House members and senators now are paid $174,000 a year. Their last pay increase was $4,700 a year at beginning of 2009.
The president's pay of $400,000 a year was fixed by Congress in January 2001. It has not changed since then.
While Obama said the federal employee salary freeze was necessary to put the nation on sound fiscal footing, he also said that he didn't reach the decision lightly.
"This is not just a line item on a federal ledger," he said. "These are people's lives."
Read Full Article
RELATED ARTICLE:
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets
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Associated Press
WASHINGTON — President Barack Obama announced a pay freeze for 2 million federal employees Monday and warned the American public that the move is the first of many difficult decisions that must be made to slash the nation's mounting deficits.
"The hard truth is that getting this deficit under control is going to require some broad sacrifice, and that sacrifice must be shared by the employees of the federal government," Obama said.
The two-year freeze would apply to all civilian federal employees, including those working at the Department of Defense, but would not affect military personnel. The freeze is expected to save more than $5 billion in savings over two years, $28 billion over five years and more than $60 billion over 10 years, White House officials said.
Congress is not covered by Obama's order, but lawmakers voted last April to freeze their pay, with the House and Senate opting to forgo an automatic $1,600 annual cost-of-living increase. House members and senators now are paid $174,000 a year. Their last pay increase was $4,700 a year at beginning of 2009.
The president's pay of $400,000 a year was fixed by Congress in January 2001. It has not changed since then.
While Obama said the federal employee salary freeze was necessary to put the nation on sound fiscal footing, he also said that he didn't reach the decision lightly.
"This is not just a line item on a federal ledger," he said. "These are people's lives."
Read Full Article
RELATED ARTICLE:
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets
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Gameover!! -- Charlie McGrath (VIDEO)
YouTube -- crabbydogtrix
Links:
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Links:
http://www.nytimes.com/2010/11/28/wor...
http://www.marketoracle.co.uk/Article...
RELATED ARTICLE:
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets
http://www.marketoracle.co.uk/Article...
RELATED ARTICLE:
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets
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Thursday, November 11, 2010
U.S. Debt Proposal Would Cut Social Security, Medicare
Heidi Przybyla and Brian Faler
Bloomberg
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Bloomberg
The co-chairmen of President Barack Obama’s debt-reduction commission will propose cuts to Social Security and Medicare, as well as reductions in income tax rates in exchange for curbing tax breaks, according to a Republican aide who attended the meeting.
The chairmen’s plan is already causing some Democrats and Republicans on the 18-member commission to balk. The plan will be announced at 1 p.m. Washington time today, said commission spokesman Fred Baldassaro.
“This is not a package that I could support,” Representative Jan Schakowsky, an Illinois Democrat, said during a break in a private meeting by the commission. She said any package able to win 14 votes on the panel would have to look “very different” from the options being discussed.
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Wednesday, November 10, 2010
Student tuition fee protests turn violent as Tory headquarters evacuated
The Telegraph
November 10, 2010
November 10, 2010
After initially being ejected from the lobby of Millbank by police and security staff, the protestors smashed their way in through windows.
Using sticks and chairs they destroyed CCTV cameras and broke windows from the inside of the office block. Employees had to be evacuated as masked youths rampaged through corridors and onto the roof.
Dozens of police officers stationed outside the entrance were overwhelmed as the crowd of thousands pelted them with rocks and bottles.
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