Archive for July 9th, 2009

Unemployment in North Caroline had more than doubled since April 2008 and is higher than the National average for May by 2%. When compared to other states in the Southeast only South Carolina is higher with 11.6%. When we look across the state line at our neighbors we find, Virginia at 7%, Georgia at 9.5%, Florida at 9.7%. What is even worse in comparison is when we look at the so called “Deep South” where one might expected higher unemployment we find both Mississippi at 9.6%, and Alabama at 9.3%. Louisiana with it’s 6.3% is almost half of North Carolina’s unemployment rate!.


So what are these states doing that a state with $4.7 BILLION budget deficit isn’t doing? What are these states doing that Governor Bev Purdue isn’t doing with her proposed $1.6 BILLION in new taxes? What are these states doing that Governor Bev Purdue isn’t doing with her proposed Recreation Tax which will likely force summer day camps in this state to close? Read the rest of this entry

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By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher, Associated Press Writer – Wed Jul 8, 6:16 pm ET

WASHINGTON – President Barack Obama promised to fix health care and trim the federal budget deficit, all without raising taxes on anyone but the wealthiest Americans. It’s a promise he’s already broken and will likely have to break again. Obama and the Democratic-controlled Congress have already increased tobacco taxes — which disproportionately hit the poor — to pay for extending health coverage to 4 million children in working low-income families.

Now, lawmakers are looking for more revenues to help pay for providing medical insurance to millions more who lack it at a projected cost of $1 trillion over the next decade. Read the rest of this entry

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by Victoria Jackson (Formerly of Saturday Night Live)

I woke up in the middle of the night and realized the trick.

You see, evil doesn’t just show up. It disguises itself as something nice; so you’ll let it in. It tricks you.

Murdering babies is called Pro-Choice. Unfair Censorship is called The Fairness Doctrine. Outlandish Taxes and the Death of Freedom is called Cap & Trade. Sounds like Fish & Chips. You gotta figure out the trick. Read the rest of this entry

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WASHINGTON – US administration officials said Tuesday that terror suspects tried before military commissions can claim some constitutional rights, including protection against evidence obtained through coercion.

The commissions, Assistant Attorney General David Kris said, should only allow evidence from detainees’ voluntary statements or else risk having convictions thrown out on appeal in higher courts. Read the rest of this entry

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By Matt Cover

( – Unemployment hit 9.5 percent in June, according to the Department of Labor, putting the figure 2.5 percent higher than the White House had predicted it would be if a government stimulus spending program went into place. Moreover, the new figure is nearly one percent higher than where the White House said it would be without any stimulus spending at all.

In fact, the White House never predicted that unemployment would rise above nine percent regardless of whether Congress spent the nearly $800 billion in so-called economic stimulus spending it recommended at the time. Read the rest of this entry

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If you thought last week’s job numbers were bad, take a look at the latest from Morgan Stanley’s chief economist, Richard Berner.

In a research note that’s been making the rounds of economics blogs this week, Berner declares that “America’s long-awaited fiscal train wreck is now under way.”

By “train wreck,” he means out-of-control federal budget deficits that he’s sure will finally drag the economy under — as if we weren’t already feeling badly enough about its shaky state. Read the rest of this entry

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Wednesday, July 08, 2009 By Fred Lucas, Staff Writer

Washington ( – Fannie Mae and Freddie Mac were the chief culprits in the housing crisis because they encouraged people who could not afford payments to borrow money, according to a congressional report released Tuesday.

The claims in the report have long been advanced by conservatives, who argue that the Community Reinvestment Act and other federal programs fed the housing bubble that burst in 2007 and led to the economic downfall in 2008. Read the rest of this entry

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By Brad Heath, USA TODAY
WASHINGTON — Billions of dollars in federal aid delivered directly to the local level to help revive the economy have gone overwhelmingly to places that supported President Obama in last year’s presidential election.

That aid — about $17 billion — is the first piece of the administration’s massive stimulus package that can be tracked locally. Much of it has followed a well-worn path to places that regularly collect a bigger share of federal grants and contracts, guided by formulas that have been in place for decades and leave little room for manipulation.

STIMULUS FUNDS: States aren’t using money as intended Read the rest of this entry

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