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Benützer: TULLYCAST2

The 56 Trillion Dollar Deficit | Bill Maher Interviews Fmr. Comptroller General David Walker Bill Maher Interviews Fmr. Comptroller General David Walker about the huge deficit in America. (CNN) -- The Emergency Economic Stabilization Act contains plenty to make lawmakers on the left and right shudder. On the right, it's the apparent abandonment of free-market principles. On the left, it's the absence of punishment for high-flying Wall Street CEO's. Looking down the middle, what I found downright unnerving was how hard Washington struggled to pass a bill that, in reality, represents less than 1 percent of our current federal financial hole. Don't get me wrong. Congress and the Bush Administration are to be commended for acting to relieve the credit crunch and trying to minimize any immediate, adverse effect on our economy and by consequence, on American jobs and access to credit. The ultimate cost of the act should ring up at less than $500 billion, less than the advertised $700 billion because of anticipated proceeds from the government's sale of the assets it will acquire with the appropriated funds. The nation's real tab, on the other hand, amounted to $53 trillion as of the end of the last fiscal year. That was the sum of our public debt; accrued civilian and military retirement benefits; unfunded, promised Social Security and Medicare benefits; and other financial obligations -- all according to the government's most recent financial statement of September 30, 2007. Don't Miss * Fed pumps billions more into banks * Dollar plummets against yen * In Depth: Commentaries The rescue package and other bailout efforts for Fannie Mae, Freddie Mac, AIG and the auto industry, escalating operating deficits, compounding interest and other factors are likely to boost the tab to $56 trillion or more by the end of this calendar year. With numbers and trends like this, you might ask, "Who will bail out America?" The answer is, no one but us! Since we're going to have to save ourselves, recent events could hardly be called encouraging. It took an additional $100 billion in incentives -- some would call them "sweeteners;" others might call them bribes -- to get lawmakers to pass the rescue package. Regardless of what you call these incentives, ultimately the taxpayers will have to pick up the tab, with interest. The process that was employed to achieve enactment of this bill was hardly a model of efficiency or effectiveness. The original proposal represented an over-reach and under-communication by the administration. Neither lawmakers nor ordinary citizens had enough information to properly assess the real risks, the need for action and what an appropriate course of action might be. Furthermore, the key players allowed the legislation to be characterized as a $700 billion bailout of Wall Street, which was neither an accurate nor a fair reflection of the legislation. Passage of the credit-crunch relief provisions in the act was understandable, not just because of what risks and needed actions the Treasury and the Federal Reserve were aware of, but more importantly, because of what policymakers didn't know and eventually might have to address. Let's face it -- the regular order in Washington is broken. We must move beyond crisis management approaches and start to address some of the key fiscal and other challenges facing this country if we want our future to be better than our past. A good place to start would be for the presidential candidates to acknowledge our $53 trillion (and growing) federal financial hole and commit to begin to address it. Their endorsement of the need for a bipartisan fiscal future commission along the lines of the one sponsored by Rep. Jim Cooper, D-Tennessee, and Rep. Frank Wolf, R-Virginia, also would make sense. Any such commission should, at a minimum, address the need for statutory budget controls, comprehensive Social Security reform, a first round of tax reform and a first round of comprehensive health care reform. It should hold hearings both inside and beyond the Beltway. And, its recommendations should be guaranteed to receive an up-or-down vote by Congress if a super-majority of the commission's members can agree on a comprehensive proposal. Editor's Note: David M. Walker served as comptroller general of the United States and head of the Government Accountability Office (GAO) from 1998 to 2008. He is now president and CEO of the Peter G. Peterson Foundation. Our fiscal time bomb is ticking, and the time for action is now! DAVID WALKER Tags: Maher Economy Bill Wall Street David Walker Comptroller general Bailout Deficit Iraq Taxes Tullycast 56_Trillion Bababooey Broadcatching Palin Biden Credit_Default_Swaps Dow Jones Nasdaq McCain Obama Election 2008 Alaska Wasilla Politics PNAC Feith Cheney Kristol

Benützer: AssociatedPress

Fmr. President Clinton to Speak at DNC SelectPlusFmr. President Clinton to Speak at DNCFmr. President Clinton to Speak at DNCThe Associated PressFormer President Bill Clinton will have a role at the Democratic national convention in Denver this month. Officials say Clinton will give a speech Wednesday night of the convention. (August 8)[Notes:ANCHOR VOICE] [Notes:ap photo of clinton from 1992]He's been the face of the democratic party since the early 19-90's. [Notes:file shot of bill clinton] And now -- for the 5th straight time -- President Bill Clinton will once again play a prominent role at this year's Democratic National Convention. Officials within the party say Clinton will give a speech on the third night of this year's convention -- right before an address by Barack Obama's running mate. Whether President Clinton would have a role at this year's convention has been the subject of speculation for months.[Notes:file of bill and hillary together]His wife Hillary was engaged in a long and sometimes bitter primary battle with Barack Obama for most of the year.SOT: Obama[Notes:file of hillary and obama together] Senator Clinton will also have a role at this year's convention. She is expected to speak on the convention's second night. On Thursday, Senator Obama dismissed suggestions that tension between his supporters and her could upset the gathering.SOT: Obama[Notes:file of bill clinton]Earlier this week, former President Clinton was asked whether he thought Senator Obama was ready to be President. The former commander-in-chief gave a less than enthusiastic response, saying, "you can argue no one is ready to be President." The Democratic National Convention starts on August 25th and runs through the 28th. It is being held in Denver Colorado. ___ ___, The Associated Press.(****END****) ANCHOR VOICE:-------------------------VIDEO PRODUCER: Kevin White------------------------------VIDEO SOURCE: File/Pool--------------------------VIDEO APPROVAL:------------------------------VIDEO RESTRICTIONS:----------------------------------SCRIPT/WIRE SOURCE: BC-Clinton-Obama, 7th Ld-Writethru,7901131------------------------------------ Tags: clinton convention fmr. president dnc

Benützer: zooeyfranny

The Dodos - Men (@ Point FMR) The Dodos live at the Takeaway show a.k.a. Soirée à emporter at Point Ephemere, Paris, Saturday 31 May 2008 by la blogotheque. Soi The Dodos live at the Takeaway show a.k.a. Soirée à emporter at Point Ephemere, Paris, Saturday 31 May 2008 by la blogotheque. Soirée à emporter featuring Essie Jain, Noah and the Whale, Fleet Foxes, The Dodos (and two other bands that werent listed and I forgot).. amazing! ps: This should be a teaser before lablogotheque put up the real videos.. sorry for the not-so-good sound Tags: The Dodos visiter Meric Long Logan Kroeber Point Ephemere soiree emporter blogotheque noah whale fleet foxes

Benützer: juliettemary

ANTILLES live@.FMR /Paris/03-2008 noise no wave Tags: noise sister iodine experimental no wave afro beat trance sans label

Benützer: AssociatedPress

Fmr. Marine Faces Prosecution for Action in Iraq A former Marine sergeant is facing the first federal civilian prosecution of a military member accused of a war crime. Jose Nazario's manslaughter trial starts Tuesday in Calif. for actions he allegedly took in Fallujah, Iraq back in 2004. (August 19) Tags: nazario fallujah fmr. marine faces prosecution action iraq

Benützer: zooeyfranny

Essie Jain - You (@ Point FMR, Paris) Essie Jain live at the Takeaway show a.k.a. Soirée à emporter at Point Ephemere, Paris, Saturday 31 May 2008 by la blogotheque. We all went outside at the end of her part of the concert and she played by the beautiful canal st.martin. The song was closed off (almost interrupted) by a local demo (for the re-opening of a canteen?) that happened to pass.. Soirée à emporter featuring Essie Jain, Noah and the Whale, Fleet Foxes, The Dodos (and two other bands that werent listed and I forgot).. amazing! ps: This should be a teaser before lablogotheque put up the real videos.. sorry for the not-so-good sound Tags: Essie Jain Point Ephemere soiree emporter takeaway shows blogotheque noah whale fleet foxes dodos

Benützer: lommm

Fmr. President Jimmy Carter on Larry King PRes. Carter talks about VP Dick Cheney and basically calls Cheney a liar. Tags: Cheney Dick Larry King Jimmy Carter Vice President Politics Lies Liar Liars

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Benützer: eltopocult

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