Did I tell you? Yes, I told you. No one ever listens. They will now. VOTE OBAMA in 2008 !

New York Gov. David Paterson talks to South Carolina Gov. Mark Sanford prior to a hearing before the House Ways and Means Committee on Capitol Hill, Oct. 29. The session focused on economic recovery.


For the most up-to-date information on state budget shortfalls, please view our newer analysis: "State Budget Problems Worsen: 13 States Face New Shortfalls" (cliick here)
Updated August 5, 2008
29 STATES FACED TOTAL BUDGET SHORTFALLOF AT LEAST $48 BILLION IN 2009By Elizabeth C. McNichol and Iris Lav
At least 29 states plus the District of Columbia, including several of the nation’s largest states, faced an estimated $48 billion in combined shortfalls in their budgets for fiscal year 2009 (which began July 1, 2008 in most states.) At least three other states expect budget problems in fiscal year 2010.
In general, states closed these budget gaps through some combination of spending cuts, use of reserves or revenue increases when they adopted a fiscal year 2009 budget. At this point in the year, most states have already adopted those budgets; only two states — California and Michigan — continue to deliberate.[1] In order to present a complete picture of the impact of the current economic downturn on state finances, we report both the gaps that have been closed and those that will be closed in the future.
The bursting of the housing bubble has reduced state sales tax revenue collections from sales of furniture, appliances, construction materials, and the like. Weakening consumption of other products has also cut into sales tax revenues. Property tax revenues have also been affected, and local governments will be looking to states to help address the squeeze on local and education budgets. And if the employment situation continues to deteriorate, income tax revenues will weaken and there will be further downward pressure on sales tax revenues as consumers become reluctant or unable to spend.
The vast majority of states cannot run a deficit or borrow to cover their operating expenditures. As a result, states have three primary actions they can take during a fiscal crisis: they can draw down available reserves, they can cut expenditures, or they can raise taxes. States already have begun drawing down reserves; the remaining reserves are not sufficient to allow states to weather a significant downturn or recession. The other alternatives — spending cuts and tax increases — can further slow a state’s economy during a downturn and contribute to the further slowing of the national economy, as well.

A nation or a state cannot have a tax base WITHOUT employment. Some of these states have the highest unemployment rates in the nation !

METROPOLITAN AREA EMPLOYMENT AND UNEMPLOYMENT: SEPTEMBER 2008 (click here)
Unemployment rates were higher in September than a year earlier in 349 of the 369 metropolitan areas, lower in 14 areas, and unchanged in 6 areas, the Bureau of Labor Statistics of the U.S. Department ofLabor reported today. Ten areas recorded jobless rates of at least 10.0 percent, while nine areas registered rates below 3.0 percent. The national unemployment rate in September was 6.0 percent, not seasonally adjusted, up from 4.5 percent a year earlier....
...Elkhart-Goshen, Ind., recorded the largest jobless rate increase from September 2007 (+5.1 percentage points). This area has experi-enced layoffs in transportation equipment manufacturing for several months. Rocky Mount, N.C., had the next largest rate increase (+3.9 points), followed closely by El Centro, Calif., and Yuma, Ariz. (+3.8 points each). Seventy-eight additional areas registered over-the-year unemployment rate increases of 2.0 percentage points or more, and another 179 areas had rate increases of 1.0 to 1.9 points. Two Arkan-sas areas experienced the largest jobless rate decreases from Septem-ber 2007: Jonesboro and Hot Springs (-1.0 and -0.8 percentage point, respectively).

Don't rely on "Drill, Baby, Drill" to answer USA Energy Needs

'This is an unbelievable crowd for this kind of weather,' Obama told the nearly 9,000 supporters who showed up donning hoods and carrying umbrellas in Chester.

Barak Obama IS the Change We Need !


Solar Paneled Roof.

The NEW BREED Oil Tycoons have had their worst nightmare dealt to them, "THE PRICE OF OIL HAS DROPPED."

The oil gluts in the world no longer exist. We are at the end of our oil supplies globally. Gas for the internal combustion engine is no longer 30 cents a gallon. As gas and oil prices have gone up over the decades so has the general cost of living. We have witnessed this past year how energy prices, when relying on oil and gas, drive up not only the price of personal transportation, but, the cost of food, clothing and most consumer items.

And explore this 'concept' with me. The cost of USA labor is directly related to the energy sector and the cost of oil as well. How? Easy. When the 'cost of living goes up' for Americans they demand higher wages 'on the job.' What does that do to the 'best labor force in the world?' It prices it out of the market for many consumer goods and hence 'outsourcing.'

When the USA has a lousy energy policy is resonates throughout the infrastructure of the USA. When Barak 'gives back' our country to us and places the replacement of our infrastructure as the top priority to the American agenda, he is not only increasing the tax base with new jobs, he is increasing the buying power of the American consumer when this new infrastructure begins to provide energy WITHOUT unpredictable costs.

A solar panel doesn't have wide fluctuations. Now, does it? How much will 'consistent' energy and transportation costs STABILIZE the cost of American Labor and return the USA (nearly overnight) back to 'the best labor market for the money?'

Think about it !

Inflationary trends have been true the entire time oil and gas have been the primary fuel sources. It is just that in the year 2008, at the end of oil availability, we are 'feeling' it more in our budgets because the price is exorbitant.

Previous to 2008, the prices would go up but were still within reach of American's budgets. How many households now can't afford their energy costs, yet alone their mortgages?


The very sad reality is that as oil demands fall because of anticipated and actual changes from fossil fuels to alternative "Earth Friendly" energy, the possibility of continued exploitation of the Earth's natural resources for oil and gas will become less and less desirable an investment.

If Americans are to believe that "...ending their dependance on foreign oil..." is a matter of simply drilling offshore; they need to think again. Offshore drilling is no longer a viable investment, nor is it an environmentally safe one regardless of whether one is looking at CO2 emissions or pollution free oceans.

The Republicans have no viable energy plan if they are seeking oil and gas as an integral part of providing energy needs for Americans. Get over it. Oil is an immoral and hideous choice for future energy needs, besides robbing our children of their entitlements to a healthy and viable Earth.

...With oil at $60 per barrel, some deepwater projects in Brazil, the Gulf of Mexico and West Africa are looking uneconomic in a market when drilling rig and offshore vessel rates are at record levels, so something has to give, said Matthew Simmons, chairman of investment group Simmons & Co.
“Oil sands and gas shales in North America and deepwater projects do not work at $60 oil. The problems are oilfield service costs are too high and we need to change this for projects to go ahead,” Mr Simmons told Lloyd’s List at the Oil & Money Conference in London on Tuesday.
“Rig costs are so high and we cannot get enough spare capacity to lower costs. Even if more rigs are built, it is hard to recruit people, so crew costs are high.”
Deepwater-capable drilling rigs are being hired out at $600,000 per day and oil companies are willing to pay more than $130,000 per day for subsea support vessels and $300,000 day rates for rig towing anchor handlers.
The price of subsea equipment such as the flowlines and wellheads needed for deepwater projects have also soared, but equipment and service prices will soon come under pressure.
“When oil prices increase everything goes higher including oil services and when oil prices fall service costs will decrease, so at $65 per barrel we expect costs will also go down as well,” said Paolo Scaroni, chief executive of Italian oil firm Eni.
The oil price fall and tight financial markets have prevented companies from finding credit to undertake their oil and gas field development plans.
Brazil has already acknowledged that the lower oil price is delaying its plans to develop the deepwater pre-salt discoveries, which would require new fleets of offshore vessels, drilling rigs and oil producing ships.
Qatar Energy Minister Abdulla Bin Hamad Al-Attiyah said no banks were offering finance for energy projects any more, whereas even four months ago they were jumping over one another to give out their cash....

Offshore Oil is UNDEPENDABLE source of energy as Climate Change continues to progress. These oil rigs have been offline for a month and a half. "Ike" dissipated on September 14, 2008. We don't need it. Our military doesn't need it either, they have been looking at domestically produced fuels and some of the alternative fuels for over a decade. The military has jets that fly on fuel produced without oil or gas. THAT is another complete series of entries. Another time maybe.

Gulf of Mexico energy production slowly being restored (click here)
by The Times-Picayune
Tuesday October 28, 2008, 1:15 PM
Energy producers in the Gulf of Mexico are slowly restoring production after hurricanes Gustav and Ike.
More than 27 percent of all Gulf of Mexico oil production remains shut down in the aftermath of last month's storms, the Minerals Management Service reported this afternoon. Roughly 33 percent of the Gulf's gas production also remains shuttered. Roughly 10 percent of the platforms in the Gulf remain evacuated because of the storms, but all of the drilling rigs have been fully restaffed. Platforms are the offshore structures from which oil and natural gas are produced. Rigs are offshore drilling facilities.

Hillary Clinton to N.H.: Ignore the polls

The Lady loves her country !