Friday News Roundup - Hour 1
http://thedianerehmshow.org/shows/2011-07-08/friday-news-roundup-hour-1
Disappointing job figures from the Labor Department – the June unemployment rate rose to 9.2 percent. Meanwhile, thousands of Minnesota government employees filed for unemployment as the state shutdown continued. Federal budget negotiations inched forward: all eyes will be on the White House over the weekend. President Obama's Twitter town hall drew thousands of questions and comments. Republican presidential hopeful Mitt Romney raised $18 million. And the Casey Anthony decision raised doubts about the jury system.
Guests
John Dickerson
chief political correspondent for Slate.com and CBS political analyst and contributor. Author of "On Her Trail: My Mother, Nancy Dickerson, TV News' First Woman Star."
Laura Meckler
White House correspondent, The Wall Street Journal.
Dan Lothian
White House correspondent, CNN.
Related Video
Lisa, who describes herself as a disabled adult child, discusses her difficulty in living on a government benefit of just under $1,000 per month. She says she feels that the struggles of disabled people are being lost in the latest debt ceiling debates in Congress:
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ecgberht wrote: on cheap loans that couldn't be afforded.
Note that the bulk (99%+) of defaulting loans were strictly commercial bank/mortgage broker loans that were not made under the auspices of the Community Reinvestment Act & were not made by CRA public/private entities.
Don't blame DC for Wall ST greed. All they did was recycle the S&L/Penn Square Bank/Silverado bank robberies. They followed the same scenario & the only additions were the computer slice & dice & selling them worldwide, instead of just to Wall ST & its customers.
Drew:
Unemployment was 4.7% in 2006. Look it up. Do not think that I agreed with Bush in many things, but compared to Obama, the proof is in the pudding.
Drew:
" I’m also a little disappointed that all the $’s that were paid into entitlements during working careers seem somehow to have worked their way into the hands of the extraordinarily wealthy (who seem, at least as far as the research I’ve done shows- do little to stimulate the real economy)."
Drew:
Does that include SS in your research dealing with the wealthy? Because I believe that if your so call retirement income from S.S. is in excess of $50,000, you are taxes an additional two times more. But then I am not a CPA.
$50,000 is not alot of money.
Sigh. Your guest Laura Meckler White House correspondent, The Wall Street Journal says that "she knows people, experts in airline security" that think that going back to private airline security screenings will endanger us. For once I would like Diane to challenge her guests to name names. I'll bet that there are either no such people, or perhaps they work at the TSA! The TSA is an incompetent keystone kop operation and should be abolished forthwith.
Mean Green:
Good points (last two anyway).
Back at ya next week.
Have a good weekend.
Brett Greisen wrote:
"Don't blame DC for Wall ST greed"
Never kid a kidder, Brett. Interesting that you bring up CRA and not FNMA or FHLMC. Here is a simple question because I am a simple man. Could the housing bubble have happened without Fannie and Freddie holding or guaranteeing 50% of the housing notes in this country? Or without CRA for that matter? The answer is clearly "no". But their very presence opened up vulnerabilities in the housing market that could not have existed any other way and that is the fundamental problem. This is what happens when governments meddle in markets. There are plenty of other ways to handle discrimination issues. And realize that, in the real world, not everybody SHOULD own a home.
That being said, there is one regulation that I would support that would solve the housing issue and ensure that it never happens again - and it doesn't meddle in the market either. In fact, it ensures that market forces will dictate home prices as well as mortgage rates; make lenders service their own loans. No point in hiding stinker loans in your own portfolio. Make banks compete for RE investors' money instead of simply dumping loans on the marketplace. Simple.
Drew:
" I’m also a little disappointed that all the $’s that were paid into entitlements during working careers seem somehow to have worked their way into the hands of the extraordinarily wealthy (who seem, at least as far as the research I’ve done shows- do little to stimulate the real economy)."
S.S is an entitlement isn't it? Turns out if you are single and make between $25,000 to $34,000 you may have to pay 50% tax on these benefits if you are also receiving income from other sources even though you may have paid into the SS system for 40yrs.
How does this figure in the "extraordinarily wealthy" scenrio and where is your research to justify your statement?
http://www.ssa.gov/planners/taxes.htm
You might want to lookup this source for your research because I would like to know how this would effect my retirement.
Plus 1.
Laura Meckler’s observation about Barack Obama’s responding to “a general mood out there that government is too big,” in defense of his constant drift to the right, is wholly unjustified. Just to be clear, the “general mood out there” is that Obama is shaping up to be another sellout and Great Capitulator like Bill Clinton, and should be roundly criticized FROM THE LEFT, or by any traditionally progressive Democrat. In my opinion, he proved himself to be Corporate America’s Chicago Boy in The White House (as in, Chicago School of Economics) when he ENCOURGED a health care bill without a public option. What’s next, privatization of S.S.?
Laura Meckler said Casey Anthony "was on trial for the death penalty." Laura seems as confused about the evidence in this trial and the point of the guilt phase as was the jury. The jury was instructed by the judge to only determine Casey's guilt, not her punishment. That would be determined in the 2nd phase and the jury would make that determination. At no time was Casey's life in peril by the jury even if they came back with a 1st degree murder conviction. There was also a third charge in the top three that did not have any possibility of penalty of death. Is it too much to ask the The DR Show journalists to be informed about an event that is well known to Anthony trial watchers?
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