I am protesting tonight. I can't imagine anyone more disgusted with the RNC than I am.

Above are hot air balloons.  The work rhymes with baphoons.

I admonish the honorable war hero Senator John McCain for manipulating the facts in the debt on the Senate floor with Senator Durbin.  The 'idea' that the spending after January 20, 2009 was not to be "BIOB."  Then whom exactly would Senator McCain blame it on?  He, too, has become a follower and no longer a leader.

The very party that claims to love the USA Constitution also has no respect for the nation's reputation.  

The GOP just loves making national issues seem like 'kitchen table' topics.  Cul-de-sacs, Pulling the Plug on Grandma, whatever propaganda Mudoch can muster, etc.; are as disgusting as the lies they tell.  Rep. Joe What's His Name simply needs to stop when he can't even honor his own children.

The GOP has gotten caught in its own trap, being replaced in primaries by the very people that believed topics of national concern were for simple minded people to solve.  Then faced with a real problem other than war, they can’t come to grips with it.

I don't want to hear Speaker Boner and his Tea Baggers complain about only having a short time to grapple with this.  If they recall, January 2009 was a busy time for the Democratic majority as they were attempting to 'save the country' from Bush Fiscal Calamity.  So, the Debt Ceiling wasn't really of importance in any way then.  AND.  If the nation's health care system was addressed under "Hillary Care" the Democrats would not have needed to address that national emergency either.

The House under the leadership of Minority Leader Pelosi passed an immense amount of legislation.  They were busy, very busy.  They were trying to save a nation from decades of Republican neglect of the Middle Class and the Poor.

Three months ago, Secreatary Geithner told the nation and its Congress the Debt Ceiling would be ‘called in’ on August 2^nd.   The ONLY solution at that point was to pass a bill that raised the Debt Ceiling of the USA while instilling measures to initiate review of the debt.  One of those measures would be to post the National Debt in relation to the monies being spent up to it at its new level.  Another measure would be to require every bill passed in the House and Senate carry a “Cost to Debt Ceiling” amount, including, the actual cost over Budget of even passing the bill.

THEN, the Majority Republican House should have began to ask for the Simpson-Bowles Commission to be referred to the IRS for an outline of implementation to eliminate all tax cuts and begin the new tax structure.  Then once the outline was in place and an implementation schedule was to begin, pass a bill to do so and then return it to the Senate for the President’s signature.

With that concluded, the next step would be to ask the Department of Defense to submit a report as to what the 22^nd Century military was going to look like with a shrinking threat of nuclear weapons, al Qaeda defeated and terrorist networks dismantled.  Then ask the DOD to prepare a plan to implement a long term strategy to achieve that goal and the cost it would take to achieve it by 2100.

With the DOD in place ask the State Department to chime in on how to best seek international cooperation to achieve it and a budget to match that achievement.

Then and only then look to the entitlements of the USA to seek a cost estimate to 2100 providing Public Comment to that discussion and ask the nation to problem solve for the country with implementation beginning within the next two years of Debt Ceiling increase.  All the time, the public would be able to assess the spending of the government in relation to the new Debt Ceiling.

There needs to be a bill passed into law that requires at least one public place (I would think it would be the USA Treasury Website) where a link large enough to easily discern could be placed on the Front Page (as well as a physical location in DC with handicap access) so anyone with internet access could view the daily use of the Debt Ceiling Increase and how those monies are being spent.  Secretary Geithner could possibly do this under his own authority if he wants to enlist the citizens of the country to participate in knowing about their treasury and its overall debt.

Knowlege is power, Timothy.  How are citizens to be informed about an intelligent choice in elections if they are under-educated and easily exploited by a hostile media empire.  When that happens it is only we to blame.

There is a clock on the side of a building that tracks the nation’s debt.  There needs to be a public place where people can view the use of the monies of the Debt Ceiling, both physical and online, at work along side measures proposed to reduce the nation’s debt and who exactly it will impact.

There is nothing difficult about this.  Simple.  Just put people to work that can actually be helpful to the American people rather than ideological.  There are all kinds of 'panels' in advisement to the FDA, why isn't there at least ONE panel to mediate for the electorate?

"Limb from Limb" by Protest the Hero

"Limb from Limb" by Protest the Hero

Split the sky asunder,

Noble huntress Of the clan.

In your left hand raise the sword
In your right hand cast a spear.
summon all the thieves and bastards
hiding in the woodland

crack their skulls into the caldron,
for invading our frontier
the shadows fall, the hammer falls
the stone is placed above us all

forge our weapons in the furnace,
soar to heights like oak trees tall

Do not beg before me,
i will not heed your appeals
with your final words be
grateful you died by Irish steel

Do not crawl before us,
for your fate has been revealed
The heavens will not,
desecrate their gates with your admittance

Do not beg before me,
i will not heed your appeals
with your final words
be grateful you died by Irish steel

do not beg before me,
your fate has been revealed

Do not crawl before me,
i'll not heed your appeal

Son of flesh i cast you out,
into exile forever hence

Flidais rides again,
Flidais rides again

She is the forest and she is the rain,
she is the huntress and,
she is the prey,
she is the dusk,
she is the dawn,
she is the moon,
she is the sun

(keyboard solo)

see her bellow out,
see her, 
see her,
Bellow out in anger,
see her raise the infant fawn
she is drawn by a cart of cervidae

she is here,
she is gone,
she is here,
she is gone,
she is gone

The National Debt is not a toy or a political icon.

I heard something alarming today on "Meet the Press" by a Freshman Republicans that was not challenged.  While there may be 'readable' laws on the books that stipulate how the benefits to Veterans, the military, Social Security and Medicare should go first, there is no guarantee that can occur because of the mechanization of the check writing system by the Federal Government and its unchallenged status up to now.


Mechanically the check writing system would have to be shut down and accountants hired to achieve that goal as they write the checks by hand.  I sincerely don't believe the capacity exists in the current check writing system to achieve 'cherry picking' the checks to be written.  


Expenses are submitted through complicated processes and set up years if not decades in time.  


Before Freshman Congresspersons make such broad sweeping statements they need to understand the entire process and not simply what the words on a page stipulate.


I also found GM's CEO interesting.  He has a 'recovering' company.  There is no reason why a company with such a status that also received a bailout from the Federal Government should have the same tax structure as Big Oil either.

I would think that especially true of companies and corporations that depend heavily on the American workforce to the degree the auto industry does.  Their return to market share is especially important for our domestic economy and there needs to be special consideration for all the companies that are holding back in hiring because of trepidation.

Republicans do not care about the USA, they care about winning regardless the carnage.

Currently, Priebus is measuring the success of 2012 by campaigning with the nation's Debt Ceiling.  He is claiming Obama will not win Pennsylvania.  All this while a national debt ceiling bill hangs in the balance?

I guess precious money is more important than governing.

...For example, like most in his party, Priebus repeatedly parrots the attack on President Obama’s efforts to save America from the very real possibility of a second Great Depression and turn huge monthly job losses into gains — albeit more modest gains than any of us would like to see. The fact remains, we are no longer losing jobs at the rate of 750,000 per month, as we were when Obama took office.

During a June debate on “Meet the Press,” Priebus claimed that the unemployment level today “rivals the Great Depression” — a claim that Politifact rated as “false,” noting the RNC was unable to supply a single statistic in support of Priebus’s assertion. The Washington Post said Priebus had gone “too far” and awarded him “two Pinocchios.”...

The drama on Capital Hill is driven by money, political PAC money.  It isn't about the country.  The stranger the candidate is these days the more strongly right wing contributors believe in them because people can better identify with the, especially the cul-de-sac crowd and will be a wedge issue all themselves.  The clearer the candidate is on their opposition to democracy and the well being of a nation of people, the focused they are on money, the better for Republican extremist contributors.  They like people to know where they stand so they can't be swayed by reason.

Jul. 15 2011

11:58 am

Billionaire industrialists Charles and David Koch (click here) have made their first donation to a 2o12 presidential candidate, according to reports made public  by the Federal Election Commission today. The prolific right-wing donors — America’s richest brothers — have made two donations to committees linked to controversial Minnesota congresswoman Michele Bachmann.

KochPAC, Koch Industries’ political offshoot, gave $10,000 total to Bachmann’s congressional committee and to ‘MichelePAC’, her action committee, on one day in May, a month before she officially threw her hat in the ring. So far, Bachmann is the only declared presidential candidate to have received cash from the Kochs this quarter, although they’ve previously supported Texas governor Rick Perry, who is widely thought to be mulling a bid. Perry made a speech at Koch Industries’ secretive June summit in Vail, adding fuel to speculation that he may soon declare candidacy….


Above the caption reads:  Boehner and Pals Koch Brothers (AP Photo/Kathy Willens) (click here)

There is no Republican Party anymore, they are all bought and paid for by commercial interests as members of The Tea Party.  The RNC would not operate this way.  They would not hold the country hostage, they would not mistreat the soldiers are war and they would not even begin to threatened our most vulnerable.  They aren't the RNC anymore, EXCEPT, in name only.  They are The Tea Party.  There is no reasoning with them at all anymore.


Voters are either with them and clearly with them or against them.

The Republicans have laid out their 2012 election strategy while 'playing' with the Debt Ceiling of the USA.

I am sure everyone is familiar with this graph.  It shows the elected majority of Democratic Senators and the unbelievable spike in 'the filibuster' by the Republicans.  This evening the Senate Minority leader has stated they would begin a filibuster of the Reid Proposal to solve the debt crisis.  In doing so he is literally taking the country's well being and its economic recovery hostage to the entire future of generations of Americans to commit to a Plutocratic form of government.  


This is called a bloodless coup.  The Speaker Boner Bill is unworkable and the immediate stand by the Minority leader to filibuster the only provision remaining to solve the debt crisis legislatively is now hostage to a deliberate attempt to hold the USA Senate Bill hostage to passage.  


I strongly urge President Obama to use the right he has in the Fourteenth Amendment to pass a new Debt Ceiling for the country.  It is constitutional and as of this evening it will save the USA from having its democracy destroyed at the hands of a very minority party, namely The Tea Party caucus.


I believe President Obama will have to sign an Executive Order that is simply one single page to raise the Debt Ceiling with a second Executive Order to have immediate measures begin on reducing the federal government's debt.  I am confident Secretary of the Treasury could elaborate to the credit worthiness of the USA, especially considering its currency is globally stable to all financial markets.  The second Executive Order would be a 'good faith' measure that Secretary Geithner could prove the good intentions of its government to succeed in reducing its debt while growing its economy and expanding its tax base.  


The USA already has a Presidential Commission report, the measure to address the nation's debt started long before this crisis.  President Obama should take some comfort in writing a clear Debt Ceiling increase as noted today after his address of the nation, the people responded to his plea for help with the House and the USA markets began rebounding to a close of less than one percent drop today.  That was quite a bit less than it was headed before President Obama spoke.


The Tea Party was fashioned and promoted by a media mogul that has been found to break the laws of Great Britain through invasion of privacy of citizens of that nation.  There is every reason to believe the USA is in danger of losing its sovereignty and it is the President's right and duty to protect the nation from a hostile agenda by very wealthy and powerful people.  I implore him to do just that.  The evidence is all too obvious.


I would think the Attorney General should be at the ready to solve these circumstances with an investigation into the intent of the Republican House and Senate to sabotage the sovereignty of the USA.  Financial sovereignty is just as important if not more so then military sovereignty.

The Federal Government CANNNOT be impeded by a Balanced Budget Amendment.

The depth of the economic slump better explains why the jobless rate doubled, climbing from 5 percent at the start of the downturn to a 26-year high 10.1 percent in October 2009.

No one would love to see a Balanced Budget Amendment for the exclusive purpose of stopping the Presidential impulse to go to war, but, our relationships around the world are complicated enough and when the USA finds it prudent to act there can't be anything preventing that.  I had to swallow that bitter pill a long time ago.  The House of Representatives are way out of line to impose such hideous provisions in any Debt Ceiling increase, especially, with these revelations regarding the debt of the initial recession which was brought about by Republican irresponsibility for eight long years that initiated with a destruction of a federal surplus.  There is no way anyone can hold President Obama responsible for the unemployment rate in the country.  

...Gross domestic product shrank 5.1 percent from the fourth quarter of 2007 to the second quarter of 2009, compared with the previously reported 4.1 percent drop, the Commerce Department said today in Washington. The second-worst contraction in the post-World War II era was a 3.7 percent decline in 1957-58.

The depth of the economic slump better explains why the jobless rate doubled, climbing from 5 percent at the start of the downturn to a 26-year high 10.1 percent in October 2009. The strongest quarter of the recovery is now the first three months of last year. Growth decelerated every quarter thereafter.

“The overall recession is indeed deeper,” Steven Landefeld, director of the Commerce Department’s Bureau of Economic Analysis, told reporters this week. “This is the Great Recession, the deepest one we’ve had in the post-WWII era.”...

It is Friday and Monday is even more chancy for the Markets especially with the US House calling for a weekend session.

The European Stock Markets are about to close in a little more than an hour or so (click here).  Those markets are experiencing declines.


The Asian markets are already closed.


It may be that the struggle, austerity and otherwise, made by President Obama and his global peer group may see the loss of all their work to date before this is over.


Commodities are up and specifically over the last 24 hours gold is up. (click here)


This is all due to the indecisiveness of the USA House of Representatives Majority Republican Caucus.  It is completely bizarre when one considers they are not even a true majority except for the place where they received their campaign funds in 2010.  This "Non-Majoirty" Majority is killing the global markets.  The 'money' hasn't gone anywhere, but, the stock prices are fluctuating so much the CEOs and their boards do not know where to go with their future as far as expansion, so there is profound impact on the 'jobs market' due to the inability of the House to find their footing at all.  


Because of the outcome of the 2010 elections in the US compliments of Murdoch and the Koch Brothers, the markets are about Bulls, not Bears.  One has to know how to read 'the daily bubble' in order to survive this mess.


The only way to stabilize this and see job recovery is for Legislature and President Obama to map out a long term strategy that will not be interrupted by hideous ideology.  I like the idea of a 'five year plan' at the very least, but, President Obama tends to like ten years as a mark of success to economic recovery.


The GDP is a direct result of the burgeoning recession brought on my so called 'fiscal conservatives.'  They aren't fiscally RESPONSIBLE, just CHEAP.  Fiscal Responsibility is more about being a guiding light to an economic recovery and not about undermining it which has been the rant of the Republicans controlled by their pledges.  It is hideous and completely unsophisticated approach to economic recovery of a nearly collapsed economy compliments of the last Republican Administration.

U.S. Stocks Fall as GDP Trails Estimates, Debt Concerns Increase (click title to entry - thank you)

July 29, 2011, 10:06 AM EDT

By Nikolaj Gammeltoft

July 29 (Bloomberg) -- U.S. stocks sank, pushing the Standard & Poor’s 500 Index toward its biggest weekly loss in a year, after gross domestic product grew less than estimated in the second quarter, adding to concern the economic rebound is slowing as the government inches closer to default.......Bank of America Corp. lost more than 1.6 percent...If Bank of America is any indication to how the other financial banks are doing that received TARP funds, it isn't going well.  In the past month Bank of America sent out 'a form letter' to all  its depositors fixing the amount they could borrow against their home equity loans.  If that is a foreshadowing the entire 2008 collapse could be revisited again in segmented declines.  BOA is probably going to be swallowed up no different than Lehman Brothers.  The banks were never stable before they paid back their monies.  The final outcomes may be that Morgan will STILL be the last bank standing.The refusal by BOA to prevent any more against home equity loans ( these are loans already established, not new equity loans) directly interprets into a decline of small business expansion, home improvements, medical care payments and bankruptcy prevention.  There is a lot going on here with BOA.  I just don't know if it is systemic.  YET!The other 'ying to the yang' is that it might be a strategy to prevent further foreclosures.  Either way, it ain't good news for the economy.  It will ripple out into retail sales, etc.

It may as well be a mile.

Buchanan: We need 2 to 6 more votes

By JENNIFER EPSTEIN (click title to entry - thank you)

7/29/11 8:37 AM EDT

House Speaker John Boehner is only two to six votes short of having enough votes to pass his bill to raise the debt ceiling and cut spending, a member of the House GOP said Friday....


What is it 2 or 6?


Or is it 3?


5?


Or something in between?


Is anyone specific about anything in that party?  

There is NOT a damn thing wrong with Medicare. Not a damn thing.

It IS the cost of USA Health Care and its LACK of return on longevity and quality of life. 


Japan does not spend nearly what the USA spends on healthcare while the Japanese lifestyle provides the AVERAGE longevity that exceeds all else in the world.


The problem with Medicare is the SOCIETY in which it resides, not the plan itself.\


I don't even want to hear how benefits are going to be cut or the cost to the citizen is going up, especially the most vulnerable, UNTIL 'everything' that IS "W"rong with it is corrected!  I don't want to hear how this is all genetics.  I don't want to hear how this is unachievable in out lifetimes now that the Baby Boomers are coming into the program.  I want to hear how all this is going to be corrected and the plan is going to be preserved.  I am tired of a 'sick' USA and I want it corrected.


The people on Medicare will never stop being victimized so long as there is NO universal health care.  As long as there are options for greater profits in the health care industry for corporations including physicians that are incorporated, Medicare patients will be marginalized.  As the Baby Boomers come onto the program more and more physicians will be forced to accept Medicare again, otherwise, they won't have a client base and dont' think they aren't looking at their country club fees and that very real and encroaching demographic!


A good start to changing the health care paradigm in the USA is to recognize ONLY non-profit corporations that effectively use their non-profit status to reduce health care costs to their consumers while maintaining high quality care.  In other words, hospitals that are non-profit, but, have a construction schedule to choke a horse is not effective use of the profit.

Getting back to the House of Representatives...

..., the problem is that the Tea Party Republicans aren't sincerely 'Party Republicans' so much as 'affiliates' hooked on the money they receive as candidates to be elected.  They have their own leader, namely Sarah Palin who is supported by Murdoch.  The Tea Party is a separate political party.  They can claim they are loosely connected and that on an organizational level is probably true, but, they are connected through the media services provided by Murdoch and Limbaugh.  The media service organizes them and practically writes policy for them and as witnessed on Hannity disciplines even the most senior and respected Seantors of the Republican Party.  John McCain ran for President, he is the party leader regardless of McConnell's job description.  I believe Mc Cain stated what he did on Hannity, not because he believed it but because in his estimation the country needs a two party system and doesn't want further division in the RNC.  But, the bottom line is if Murdoch can inflict political reprimands on national television then they are in control of the outcome not the Tea Party or the Republicans themselves.  Murdoch bought a political party in the USA and now they operate under self imposed gag orders.


John McCain is a great American and continues to be so especially realizing the monster that was created by Murdoch when he adopted Palin.

Fort Hood is the staging ground for troops to Afghanistan.

The original report from the BBC. This "You Tube" rendition isolated the comments that shocked the journalist.  (click title to entry - thank you)

US Muslims react to Texas shootings

A vigil has taken place for the 12 civilians and one soldier killed at an Ford Hood army base in Texas by army major Nidal Malik Hasan.

The shock at the killings has reverberated around America, and led to questions about the loyalty and trustworthiness of Muslim Americans, particularly those serving in the military.

Reporter Gavin Lee reports from Fort Hood on the aftermath of the shootings, and Muslim American lawyer and a playwright Wajahat Ali comments on Muslim's reaction to the incident.

This is an interview from the BBC after the Fort Hood killings by Hasan. There is a mosque in Fort Hood and according to this interview those that empathize with the people, be they Taliban or not, of Afghanistan have no sense of lawful conduct when it comes to their peer group. I do believe Fort Hood's identity is tainted by its purpose.  The voice in the You Tube dialogue is a young man.  The young men seem to be the ones with the greatest interest and problems even on a global basis, while some women have entered the fray from time to time.

...Abdo, who joined the Army (click here)  in April of 2009, gained national attention last summer when he refused to deploy with his unit to Afghanistan, insisting his Muslim faith prevented him from serving. He fought his deployment since 2010 and gave multiple interviews.

“I was under the impression that I could serve both the US Army and my God simultaneously,’’ he said in a television interview with CNN last summer. “As the time had come near to deployment, I started really asking myself . . . whether God would accept what I was doing and whether I was really meant to go to war as opposed to the peace that Islam preaches.’’

Army officials said Abdo was granted conscientious objector status in May, but his discharge was put on hold after the Army said it had discovered child pornography on his computer....

The child pornography is sought as the men pursue their virgins after death.  There is definately a sexual content to their 'identity crisis' that leads them to the rampage of massacre.  


I probably did not make myself clear in the previous statement.  Virgins.  The young virgin.  Their immature choices would reflect the dysfunction of their own personalities within their faith.  More or less the influence of radicalized peers seeking a form of enticement to reality of an afterlife to literally 'die for.'  I doubt these men would be acting on their impulse for 'kiddy porn' so much as using it as a dreamscape.

Maybe the Republican Party does need its cronies and wheelers and dealers.

...The late-night decision (click title to entry - than you) to call off the vote came after hours of frantic, unsuccessful arm twisting, with House leaders ushering wavering members into leadership offices to meet with the speaker, Majority Leader Eric Cantor (R-Va.) and Majority Whip Kevin McCarthy (R-Bakersfield).

The efforts began early in the afternoon as Boehner's chief of staff, and then the speaker himself, pulled members off the floor for private conversations, at least once with the powerful Appropriations Committee chairman, Rep. Harold Rogers (R-Ky.), in tow. A dazed-looking undecided freshman listened to overtures from a smiling, gesticulating member of the leadership team. A committee chairman wrapped his arm around a congressman who was leaning no, as other members surrounded the man....

The Republicans gave investors to 'entertain' a movement away from the US to 'downgrade its reputation' if not its credit rating.

This news is not about the USA bonds, it is about Australian bonds.


While Speaker Boner is soliciting votes for his bill, it is already July 29th and a new trading day in Australia.

Aust bonds climbing on US default fears (click title to entry - thank you)

July 29, 2011 - 9:34AM

...Investors are flocking to the relative safety of Australian bonds, amid a looming August 2 deadline which could see the US default on its loans, should its debt limit not be raised by the government.

At 0830 AEST on Friday, the September 10-year bond futures contract was trading at 95.110 (implying a yield of 4.890 per cent), up from 95.090 (4.910 per cent) on Thursday.

The September three-year bond futures contract was at 95.490 (4.510 per cent), up from 95.480 (4.520 per cent).

By 0915 AEST, bonds had risen further with the 10-year contract reaching 95.145 (4.855 per cent) and the three-year contract at 95.530 (4.470 per cent)....

..."Even though that might involve an eventual (credit rating) downgrade of the US, I think everyone's more concerned about what that might mean for global market sentiment."...

This is Sarah Payne, another murdered child exploited by Murdoch's "News of the World." Is the list endless?

...Former News of the World editor Rebekah Brooks, (click title to entry - thank you) who became close friends with Ms Payne during the paper’s campaign, said the latest allegations were "abhorrent".

It is believed that the evidence found in Mulcaire’s files relates to a phone given to Ms Payne by the News of the World so she could contact her supporters, the Guardian reported.

Brooks said in a statement: "For the benefit of the campaign for Sarah’s Law, the News of the World have provided Sara with a mobile telephone for the last 11 years. It was not a personal gift....


For 11 years this child's mother had a phone to run a campaign to bring about a protection law provided by News of the World.  And for 11 years the media service could move freely into the phone and out to find out what was going on.  I doubt the mother agreed to any of it.  Nothing like desecrating a dead child's memory.  Is there anyone alive that can absolutely tolerate the Murdoch Media network?  There is just some morality that should never be allowed to exist in any form or affiliation.

The Speaker of the House might try offering to hold the vote for his bill in the Chapel. It may be where the caucus has decided to wait this out.

Republican (click title to entry - thank you) Conference Chairman Jeb Hensarling (R) of Texas (left) and Rep. Mike Pence (R) of Indiana walk from House Speaker John Boehner's office at the Capitol as the scheduled vote on Boehner's debt-ceiling bill is delayed in Washington Thursday.

J. Scott Applewhite/AP

I chose the Christian Science Monitor article because they have it more correct.  The Speaker is determined to pass his bill.  I sincerely don't believe it is going to happen.  I am sure President Obama has readied an Executive Order in case this division of the House Republicans continues.

I have never witnessed such brutal treatment of a House Speaker.  The longer the delay goes on the longer it is going to be.  I sincerely believe the Republicans are committed to their outcomes.  I also believe it is media driven by the Right Wing media.  Perhaps, if the Speaker would address the party on FOX there might be more support for the bill and things would turn around for him.  Hideous as it is, they have allowed Murdoch to be their king maker and Mike Pense openly thanked and praised Hannity after the 2010 elections to the point of nausea.  When one sells their soul to the devil there is dearly nothing a prayer can do to save you.  I could not be more serious.

…“If this were a parliamentary system, (click title to entry - thank you)  this would have been the equivalent of a no confidence vote,” says Stan Collender, a longtime federal budget analyst and partner at Qorvis Communications in Washington….

The House Republicans can't seem to get their minds around the issue that it was this Senate that voted down the President's Budget unanimously.  I don't know why they believe they are so far apart on anything that concerns the country's sovereign debt.  The differences occur when it is the citizens of the country vs Wall Street and the wealthy as a choice to DEBT REFORM.  Why is it that people of faith, and proclaimed abiding faith have a difficult time discerning the decision about that?

President Clinton never was threatened with a credit status downgrade,he never signed a pledge, he never sacrificed the well being of the American people and he never had headlines like this.

U.S. Treasuries weaken as debt, budget uncertainty persists (click title to entry - thank you)

11:39 28/07/2011

MOSCOW, July 28 (RIA Novosti)

The price of benchmark 10-year U.S. Treasuries edged down on Wednesday and demand at an auction to sell five-year bonds was low, as Congress failed to agree a deal on state debt increase and the budget deficit.

The 10-year paper yield rose six basis points to 3.01 percent. Bonds with a 3.125 percent coupon became 0.25 bp cheaper at 101.22 percent.

The U.S. Finance Ministry sold $35 billion worth of Treasuries at an auction where demand exceeded supply more than twice over, but was lower than at the last four sales.

The U.S. is on the brink of a default on its Treasuries - a previously unthinkable occurence - on August 2, unless Congress raises the ceiling for government borrowing. But congressmen link widening the debt limit with cutting the budget deficit, an issue on which Republicans and Democrats differ strongly....

The bottom line to all this is that the Majority Republican House has ruined the credibility and accountability of the Untied States of America.  They pledge their allegience to Wall Street rather than the country and they are the only ones accountable for the financial and fiscal emergency now facing the USA.


Click here for pie graph of debt distribution (click here) and how the interest is paid.  To most people 10 year Notes or T-Notes are unfamiliar jargon, but, in this graph it is noteworthy to realize that is the way the majority of the debt is financed.


This is an example from Wikipedia as to what T-Notes are and how they actually deliver on payment over ten years.  It is fairly simple and straight forward as to how the USA uses borrowed money to pay bills.  


Treasury notes (or T-Notes) mature in one to ten years. They have a coupon payment every six months, and are commonly issued with maturities dates between 1 to 10 years, with denominations of $1,000. In the basic transaction, one buys a "$1,000" T-Note for say, $950, collects interest over 10 years of say, 3% per year, which comes to $30 yearly, and at the end of the 10 years cashes it in for $1000. So, $950 over the course of 10 years becomes $1300.




This is a second accounting of the same auction discussed in Ria Novosti, a Russia newspaper. This is from Reuters.

NEW YORK, July 27 (Reuters) - The U.S. Treasury sold $35 billion worth (click here) of five-year notes on Wednesday in a lackluster auction, with foreign demand hitting a five-month low as time

runs short for the government to raise the national debt limit.

The auction, the second of this week's three offerings totaling $99 billion, extended a pattern of soft interest from overseas being offset by increasingly robust demand from large

domestic investors.

 The rising domestic participation suggests some investors, at least, see no alternative to U.S. government bonds even in the face of a default or possible ratings downgrade. While not stellar, the auction was by no means a disaster, and the Treasury market only added modestly to earlier losses. Thursday's $29 billion auction of seven-year debt will end the week's offerings. For more, see [US/]...

This reporting about the US Treasury auction in July 27, 2011 is a realization that the decline in the interest in US Treasury Notes has already begun even before any downgrading.

The downgrading will cause less interest, but, will not eliminate the purchase of these form of securities in the financial markets.  What a downgrading means is that the interest paid on these notes will increase to investors and cost the USA citizen more money to pay.

This is a clear indication the Republican Caucus of the House of Representatives cares very little about the well being of the average citizen and prefer to keep their wealth in order to invest in commodities that help finance the USA debt such as foreign oil exporters.  Oh, yes.  See there is a conflict of interest with Republicans.  They can disregard any downgrading as their cronies don't really see it as a measure of USA sovereignty so much as a change in strategy for their investments in the market place.  Follow?  The Republicans and their cronies don't have anything at stake here.  Nothing.  They can pick up their chips and play elsewhere or better yet continue to invest in the Treasury Notes and receive higher interest.  See, the reason President Obama is upset up all this is because he knows the Republicans nearly prefer to have the USA default for reasons of higher income to their cronies and themselves while causing hardship to the Middle Class and higher incidence of poverty.

The debate by Republicans is sincerely void of any loyalty to the USA, so much as loyalty to Wall Street.  Republicans nearly prefer to have the USA rated with a B or C rating before sincerely showing concern.  To them our Treasury Notes are not so much about sovereignty, but, of where does one place their money to earn money.

Rarely does anyone bring up the reason why oil and gas are the primary forms of energy in the USA.  One of the reasons is not just that the USA is dependent, it is because the USA is 'secured' by that dependence.  Oil exporters are the third major holder of USA debt.  So, the USA is not necessarily resolved to change that so much as support their debt holders.  It is why most environmentalists sincerely don't understand the argument to "Drill Here, Drill Now."  They actually believe the drilling is for domestic use, no different than hydraulic fracturing to secure gas.  None of that is going to make a difference to the USA as LNG (Liquefied Natural Gas) is being transported (adding the CO2 component to the LNG) to other countries such as India.  The offshore oil in the East and West Coast waters isn't really significant.  It is a very minor amount that will never sincerely serve as a way to reduce USA dependency because new drivers are added to the roads of the USA everyday in Motor Vehicle Agencies across the country.  The USA is dependent on oil and gas to support the holders of debt and according to Republicans that should happen rather than 'Go Green.'

  
Unfortunately, Treasury Secretary Geithner decided to allow more time three months ago to assist lawmakers, primarily in the House, to come to terms with what a National Debt Ceiling is and how it has to be treated to continue the sovereignty of the USA without any assault including the value of its currency and the esteem of its Treasury Notes.  He thought it would be helpful so that calamities that occurred on July 27th would not occur.  The Republicans refused to acknowledge their responsibility within that time limit so much as viewing it  as an inconvenience to the length of time before default and more time to 'play' political games full of nonsense.  So, while Joe What's His Name in the House BELIEVES he knows there is nothing to worry about regarding August 2nd, he is DEFINATELY "W"rong when it comes to the well being of the Middle Class and Poor of the USA.


DO NOT.


DO NOT.


DO NOT, elect Republicans to government at the federal level again !!!!!!!