from Daily Kos:
So the House Republican capitulation on the debt limit is now complete, with 200 Republicans joining with 85 Democrats voting to suspend the debt limit until May 19.
Most Democrats opposed the measure, but their opposition had nothing to do with the debt limit. Instead, they opposed the bill because it contains an unconstitutional provision that would delay salaries for members of the Senate and House if their chamber does not produce [...]
A new report by a liberal-leaning think tank recommends a dramatic overhaul of military pay, retirement and health care benefits as part of a $1 trillion cut in defense spending over 10 years.
The Center for American Progress calls for capping pay raises, eliminating military health benefits for many retirees who are covered by an employer-provided plan, and reducing the value of military retired pay as well as making retirees wait [...]
Parents on benefits who have more than two children could be penalised as part of the government drive to find further cuts in welfare, Iain Duncan Smith has said.
The Conservative work and pensions secretary is expected to use a speech at the Cambridge Public Policy thinktank to say that some parts of the benefits system promote “destructive” behaviour.
He will lay the ground for a fresh assault on the welfare budget and renew warnings that parents on benefits should not [...]
U.S. state and local-government pensions ended the 2012 fiscal year with a median gain of 1.15 percent as the European debt crisis and a slowing global economy damped stock returns, Wilshire Associates said.
It was a reversal after two years of gains for the retirement funds, which have $2.8 trillion inassets, according to the U.S. Census Bureau. The performance, included in a report Wilshire is set to release today, may add to political [...]
I’m expecting them to do both. Raise council tax across the board and to cut CT benefit for a group yet to be decided upon. A lot of lives will change for ever, come April of next year. Combine this CT change with the other benefit reforms next April. A lot of people will suddenly find themselves, up a creek without a paddle.
“Low-income families could lose hundreds of pounds a [...]
Citing a recent report by public health lawyer Michele Simon at EatDrinkPolitics.com, Nestle recently made the following observations on her blog about “some of the politics behind efforts to maintain the status quo”:
•Food industry groups such as the American Beverage Association and the Snack Food Association teamed up with anti-hunger groups to oppose health-oriented improvements to SNAP.
•Companies such as Cargill, PepsiCo, and Kroger lobbied Congress on SNAP, while also donating [...]
December 29, 2011
After being interrupted by Occupy protesters during a veterans rally in Des Moines, Iowa yesterday, Ron Paul praised the movement, compared it to the Tea Party and declared that he was the only GOP candidate who could bridge the two causes and instill real change in Washington.
During the opening remarks of his speech to the hundreds in attendance, Paul was interrupted by protesters screaming “What about the [...]
1) UK Greek bill ‘may hit £14,640 per family’
“Britain could be hit with losses of up to £366bn from the collapse of the Greek economy, it emerged last night.
The potential devastation of banks and other City institutions would be equal to 24% of our annual national output, or £14,640 for every family in the UK.
Ministers had claimed that British banks have ‘only’ £2.5bn of exposure to Greek government [...]
Inflation has hit poorer families much harder than the rich, the latest research shows – and the trend is set to deteriorate. The independent Institute for Fiscal Studies says that for a decade the pattern of price rises has meant that the least well-off families, especially pensioners, have been hit hardest by rising prices.
The revelation comes as Scottish Power and other firms have signalled rises [...]
The Pentagon’s top officer said Thursday that servicemembers will likely see cuts in pay and benefits as the military plumbs its budget for nearly half a trillion dollars in savings over the next 12 years.
Joint Chiefs of Staff Chairman Adm. Mike Mullen warned against taking the “relatively easy” choice of cutting hardware while maintaining the increasing costs of paying and providing ongoing health care [...]
1) Fed Assets Rise to Record $2.55 Trillion on Bond Purchases
“The Federal Reserveâ€™s total assets rose by $11.9 billion to a record $2.55 trillion, the fifth record in as many weeks, as the central bank bought Treasury securities in the second round of its quantitative easing strategy.
Treasuries held by the Fed rose by $22.8 billion to $1.24 trillion as of yesterday. ”
2) State’s long-term pension debt [...]
by Joe Crash
A very promising future, if we can cut union pay and benefits is better than to raise taxes to an already consumer, that is obfuscated with a lot of taxes such as estate tax, property tax, sales tax, income tax, dividend tax, capital gain tax, gasoline tax and in addition fees.
The reality of strapped governments having to meet these promises is clashing with [...]
UK manufacturing slows:
UK government imposes fuel duty tax increases, AA road organisation says this will further hit the economy, also push the already high inflation for headline rate, especially for necessities in UK, even higher:
UK to increase VAT tax from January 1st 2011:
UK benefit cuts from April 6th 2011 affecting all families with children through child benefits that all families with children have benefitted from for many years, as [...]