Tag Archives: news

Financial • Check out the story of America’s recovery, the mind of Obama

By Gary Triplett The White House, Washington
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Hello, everyone —

In the early hours of September 15, 2008, five years ago last Sunday, Lehman Brothers announced it would file for Chapter 11 bankruptcy protection. Lehman was a giant of the financial system — the fourth-largest investment bank in the US, a firm that employed thousands of brokers and analysts, with billions in assets that were suddenly worthless — and its collapse sent shock waves through the global economy.

Suddenly, it was obvious that the next president of the United States would inherit a staggering economic crisis. But the challenge that President Obama was forced to confront didn’t just begin in 2008. Even before Lehman Brothers, middle-class security had been slowly eroding for decades as jobs became obsolete or were shipped overseas.

So as we mark this anniversary, we’ve asked senior staff from across the Obama administration to sit down and talk about the moment when key decisions were made — the factors they weighed, the results of the actions that President Obama took. What we’ve put together is a behind-the-scenes look of the decision-making process that you won’t find anywhere else.

Check out the story of America’s recovery, then share it with your friends.

By the end of 2008, the economy was shrinking by an annual rate of more than 8 percent, our businesses were shedding 800,000 jobs a month, and credit was frozen for families and small businesses. We were in the midst of the worst economic crisis since the Great Depression. On the day that I first began working in the White House in 2009, the auto industry was on the brink of collapse and the President was wrestling with how to help the millions of families in thousands of communities who would have been devastated if the motor companies died.

That’s the lens through which President Obama saw his responsibilities, and it’s a consistent theme in all the stories we’ve collected. Every decision he made was meant to stop the economy from spiraling out of control, put people back to work, and reverse the trends that had buffeted middle class for decades. The task was nothing short of monumental — to clear away the rubble of the crisis and lay down a new foundation for sustained economic growth in the United States.

There’s no diminishing the severity of the challenge we’ve overcome together, and we’ve got a lot more work to do to rebuild an economy where everyone who works hard has a chance to get ahead. But five years after Lehman Brothers bankruptcy, we want to help everyone get the context and see the full picture.

Take a minute to learn more about where we are five years after the start of the financial crisis:

http://www.whitehouse.gov/five-years-later

Thanks!

David

David Simas
Deputy Senior Advisor
The White House
@Simas44
Visit WhiteHouse.gov

The White House • 1600 Pennsylvania Ave NW • Washington, DC 20500 • 202-456-1111

Statistics: Posted by Gary Triplett — Tue Sep 17, 2013 5:05 pm


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Via: gov.summit.net

What’s On Your Mind • Ode to Common Sense

By Gary Triplett

ODE TO COMMON SENSE
Obituary printed in the London Times…..Absolutely Brilliant !!

Today we mourn the passing of a beloved old friend, Common Sense , who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:

– Knowing when to come in out of the rain;
– Why the early bird gets the worm;
– Life isn’t always fair;
– And maybe it was my fault.

Common Sense lived by simple, sound financial policies (don’t spend more than you can earn) and reliable strategies (adults, not children, are in charge).

His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.

Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.

It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.

Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.

Common Sense took a beating when you couldn’t defend yourself from a burglar in your own home and the burglar could sue you for assault.

Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.

Common Sense was preceded in death,
-by his parents, Truth and Trust,
-by his wife, Discretion,
-by his daughter, Responsibility,
-and by his son, Reason.

He is survived by his 5 stepbrothers;
– I Know My Rights
– I Want It Now
– Someone Else Is To Blame
– I’m A Victim
– Pay me for Doing Nothing

Not many attended his funeral because so few realized he was gone.

If you still remember him, share this with others. If not, join the majority and do nothing

Statistics: Posted by Gary Triplett — Wed Sep 11, 2013 1:18 pm


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Via: gov.summit.net

Pennsylvania State Government • Pennsylvania man pays school property tax — all in $1 bills

By Gary Triplett An Easton, Pa. man, frustrated over property taxes, visited the local tax office and paid in dollar bills — all $7,143 of it.

One bill at a time.

Local news reports identify the man as Robert Fernandes of Forks Township.

The scene, posted on YouTube, has generated more than 15,600 views — in less than a week.

In the video, Fernandes carries a duffel bag filled with bundled bills, which he proceeds to stack on a counter. He brings doughnuts, offered to “anyone who is inconvenienced here today.”

The tax collector tells Fernandes his protest should probably be directed elsewhere, toward the school board, maybe, which is in charge of setting property tax rates.

“I’m not doing this to make anybody’s life more difficult,” Fernandes tells the collector. “Unfortunately, I wish the same could be said, you know, for me and many others whose lives are more difficult for having to pay property taxes.”

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Source: Bartle Doo Articles

Statistics: Posted by Gary Triplett — Sat Sep 07, 2013 12:43 pm


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Via: gov.summit.net

What’s On Your Mind • Atheists for Taxation of Churches

By Gary Triplett Atheist_for _taxation.png
Most churches still do God’s work without desire of $$ except to give help, hope and community to so many. What we should be doing, instead of looking for more money in taxes, is to elect our nation’s residents that are well educated and have ethics enough to cut spending. It’s so easy, if anyone offer themselves to be elected to stand up to the job.

ncreasing taxes in this day and age is always the wrong answer. Giving the government the power to shut down the freedom of religion is wrong and dangerous. Anyone who has operated in the non-profit world on the conservative side of things over the last 2-3 years knows how dangerously powerful the IRS can be. Also, just to be clear most churches, at least in Virginia, are not corporations. Also, since churches don’t publicly report revenues, the figure reported for them is more of less made up.

I stand behind churches to continue to be exempt from taxation. Although I’m a Baptist, one great church I found of true value is “First United Methodist Church” in Hanover PA. They offer food, money or life emotional help without question.

What I’ve found troublesome with some churches is their missionary work only to find “numbers” in how many churches they build overseas. While living in Bucharest for a number of years, I found so many that need. I offered a food van to distribute food and let them know the church that gave. No church I contacted was interested… only to tell me that their funds were to build churches.

Statistics: Posted by Gary Triplett — Tue May 13, 2014 9:41 pm


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What’s On Your Mind • American Values are Eroding

By Gary Triplett For years, the United States has felt, since Clinton manipulated the markets that allowed for the huge real estate boom during his term. We’ve been paying for it ever since and have also given away our sense of family and God. Family has long provided that true teaching of right and wrong and of the “golden rule’ and love of neighbor with God as it’s base. However, greed and selfishness, with government policies, creates an extreme pressure upon these values as most, in the short term, go down the path of least resistance in order to get and have what they wish, at any expense to anyone else.

In other words, we have been lavishing in our extremes of pleasure while eliminating our industrial power. Mortgages to buy homes and property at artificially inflated prices have been plaguing us with foreclosures and government bailouts. The result has been that the rich get richer and the price tag has been greater national debt that is sold to China. Who will repay these debts and at what expense?

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Statistics: Posted by Gary Triplett — Sun Feb 16, 2014 11:57 pm


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Via: gov.summit.net

What’s On Your Mind • Interview Bill O’Reilly And Obama During Super Bowl Pre-Game

By Frank Jenkins

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Oreilly is a forceful man during his interviews on his show, but was required to be much more subdued during an interview with the President. He certainly was not his typical robust self knowing the interview would be over if he stepped over a boundary. What a terrible shame anyone should need to feel “careful” while interviewing the highest elected employee of our nation. When the “people” ask a question of it’s elected “employee”, the employee should submit, not create an environment of superiority. Only the “people” allow this attitude of their employees.

Corporations and small owned businesses elect and employee their CEO or leader of their business based upon popularity… do you think? Why do we elect our President and so many other we hire to an office without education, experience and knowledge to do the important jobs we need them to do? In our last election, many black Americans of African origin voted upon race ONLY without regard for qualification. Many others voted for a dream or utopia. Quite obviously, those that voted, based upon our current electoral conventions, re-elected Obama.

During the interview by Bill O’Reilly and Obama during Super Bowl Pre-Game, the President gave all efforts to justify his actions or inactions. Those that were successful, he credited himself with. Those that were not as successful, he gave credit to his subordinates and placed responsibility for any failures upon them… or some”thing” else. Obama always had an answer, but never did, during the interview, or anytime else, ever take responsibility for anything less than successes.

The words: “The Buck Stops Here” should be incorporated into the pledge an elected official must take when entering any office throughout our nation. Integrity and humility is not taught to or learned by all of us that run for office.

Who doesn’t want our nation to succeed? We all have our own ideas and thoughts of how that should be done. One way it won’t succeed is by following history and the things that we should have learned that don’t work. We shouldn’t repeat them.

Thank you President Obama and Bill O’Reilly for the time you spent for this interview.

Statistics: Posted by Frank Jenkins — Sun Feb 02, 2014 7:23 pm


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Via: gov.summit.net

Religious Freedom Lawyers Say RI, Minn. Officials Don't Have to Issue Same-Sex Marriage Licenses

As gay couples made final preparations for marriages to be held on Thursday in Rhode Island and Minnesota when the states become the 12th and 13th in the U.S., along with the District of Columbia, to allow same-sex marriage, a religious liberty law group advised officials that they do not have to personally issue marriage licenses to same-sex applicants. …read more

Source: The Christian Post

Market Minute: An August Rally for Stocks? Exxon Misses on Earnings

By DailyFinance Staff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, July 31, 2013. U.S. stocks erased an earlier rally after the Federal Reserve refrained from indicating when it will reduce the pace of stimulus and data showed the economy grew more than projected in the second quarter. Photographer: Scott Eells/Bloomberg via Getty Images

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Stocks are set to rally this morning, but history offers a warning to investors. That and more is what’s in market news Thursday

The Dow industrials (^DJI) lost 21 points Wednesday, and the S&P 500 (^GPSC) was virtually flat, but the Nasdaq (^IXIC) gained nearly 10 points.

Scott Eells/Bloomberg via Getty Images

All three major averages posted solid gains for all of July. For the Dow, it was the seventh increase in eight months. So what can we expect from August? Well, since 1987, it’s been the worst month of the year for the market.

In earnings news, Exxon Mobil’s (XOM) quarterly earnings appear to have badly missed Wall Street expectations.

Procter & Gamble’s (PG) net fell by nearly half from a year ago, but still edged past expectations.

Animated filmmaker DreamWorks Animation (DWA), biotech company Affymetrix (AFFX), and the online review company Yelp (YELP) are all set to rally on better-than-expected earnings news.

But Whole Foods Market (WFM) and Marriott International (MAR) both issue disappointing results.

Ford (F), General Motors (GM), Toyota (TM) and other carmakers report sales for last month. Industry watcher Edmunds.com forecasts a double-digit gain from a year ago.

Shares of J.C. Penney (JCP) tumbled Wednesday on a report that a leading commercial lender has stopped backing deliveries to the chain. But the stock is set to rebound Thursday after J.C. Penney said those reports are false.

The dispute between J.C. Penney and Macy’s (M) over the rights to sell Martha Stewart (MSO) branded products could come to an end today. The two department stores are set to deliver closing arguments in their long-running case, and the judge could issue an immediate ruling.

The International Trade Commission is expected to rule today on Apple’s (AAPL) patent-infringement case against Korean rival Samsung. The companies have filed suit and countersuit against each other, with both sides claiming some victories in court.

And Starbucks (SBUX) has enlisted Google (GOOG) to make the Internet connection at its coffee shops up to 10 times faster than it is now.

Produced by Drew Trachtenberg.

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Source: FULL ARTICLE at DailyFinance

Private Jet Set Kicking The Bucket

By Russ Alan Prince, Contributor For many years travel industry destination marketers elbowed each other to be on the bucket list for mass affluent consumers (household incomes between US$100,000 and US$400,000). The problem was that if per chance they were successful in getting mass affluent consumers to go to Australia this year instead of China, Alaska, Peru, Tahiti, South Africa, India, fill-in-the-blank, the net effect was that these consumers were unlikely to return to these destinations. They had spent a couple thousand bucks, checked it off their list. On the flight back home, they were already thinking about checking off the next box. …read more

Source: FULL ARTICLE at Forbes Latest

Vanguard Health Care Fund Gains 27%, Buys 4 New Stocks

By GuruFocus, Contributor

Edward Owens retired at the end of 2012, but his Vanguard Health Care Fund (VGHCX) lives on under the management of Jean M. Hynes CFA, a Vanguard senior vice president, partner and global industry analyst who joined the company in 2008. Owens outperformed every other U.S. mutual fund since its inception in 1984 through his retirement. …read more

Source: FULL ARTICLE at Forbes Latest