congress posts
FeedPosted Apr 6th 2011 9:00AM by Kevin Kersten (RSS feed)

With all the talk of the nation's deficit, the federal budget, and
a potential government shutdown, I would like to throw a question into the debate: When are we going to pay off the national debt?
We have been borrowing more and more money, and the amount that we have borrowed has grown significantly compared to the total goods and services we make in this country.
I recall a few years ago talking to people who were buying and selling homes. I asked them how they could afford such big, expensive houses. I thought maybe they had rich uncles. But they were just taking out interest-only mortgages and the banks were lending them 95% of the value of the houses or more.
Continue reading When Are We Going to Pay Off the National Debt?
Posted Dec 7th 2010 4:40PM by Sheldon Liber (RSS feed)
Filed under: Other Issues, Exxon Mobil (XOM), Archer-Daniels-Midland (ADM), Deere and Co (DE), Politics, Serious Money
Leave it to our representatives in Washington to make a compromise that ignores most of their previously stated beliefs -- of only a few days ago. This just reinforces again the old joke "How do you know when a politician is lying?..."
Monday the Obama administration and congressional Republicans came to an agreement to extend both unemployment benefits by 13 months, and the Bush-era tax cuts for all by two years. What happened to the Republican and Democratic noise about fiscal responsibility and reducing the debt?
A few days ago Republicans were not going to vote for an extension of the unemployment funding if there was not an associated revenue offset to pay for it. That's gone, so the deficit is going up. The Democrats claimed they would not back an extension of the tax cuts for people that earned over $200,000 for individuals and $250,000 for joint returns claiming this would add $900 billion toward debt reduction. That's gone so the deficit is going up.
Continue reading Serious Money: Washington Compromise Stinks, but Here Are Some Stocks to Look At
Posted Jul 27th 2010 1:30PM by Joseph Lazzaro (RSS feed)
Filed under: Entrepreneurs, Politics, Financial Crisis

The only question is -- how soon can the Congress get this deal done?
The potential 'deal' being $30 billion in new capital for community banks, who would then use it as a base to increase lending to small-sized/medium-sized businesses by up to $300 billion -- credit that's urgently needed and may prove to be a pivotal factor concerning the U.S. economic expansion's sustainability.
"If we can help the big banks, then we should certainly be able to help small-business lending," President Barack Obama said June 30,
Bloomberg News reported. The Senate may consider the bill as early as this week; the program, called the Small Business Lending Fund, passed the U.S. House last month
Continue reading Senate May Vote This Week on $30 Billion Community Bank Capital Bill
Posted May 12th 2010 2:00PM by Sheldon Liber (RSS feed)
Filed under: Rants and Raves, Market Matters, Scandals, Goldman Sachs Group (GS), Politics, Headline News

The more I think about the issue of Goldman Sachs (
GS) being charged by the SEC for questionable business practices, and hauled in front of Congress for a big show, the more I think it is Congress that is at fault for the whole financial mess and should be answering questions.
It is not that Wall Street had no hand in the entire debacle, but it started with Congress and they magnified the damage by failing to correct their critical mistakes. I will get back to this later, but first I want to discuss the recent hearings and the fact that Goldman Sachs management was actually too easy on Congress.
Continue reading Congress, SEC and Goldman Sachs Failures
Posted Mar 8th 2010 4:40PM by Joseph Lazzaro (RSS feed)
Filed under: Politics

Put this one under the category of 'I'll believe it when I see it.'
U.S. Rep. Ann Kirkpatrick, D-Arizona, has introduced a bill that would not only halt automatic pay increases lawmakers receive, but would also cut their pay by 5% next year, or by $8,700.
The bill would apply to all Representatives and Senators and take effect on January 1, 2011. If the measure is passed, it would be the first time Congressional lawmakers' salaries will have been cut since 1933, during the depths of the Great Depression.
Continue reading Should the U.S. Congress Cut Its Pay?
Posted Feb 22nd 2010 5:00PM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Politics

An unease in the nation appears to growing -- particularly among typical Americans -- regarding the influence of money in politics, and among U.S. Representatives and Senators, in particular.
This phenomenon has occurred cyclically in the U.S., and it is unclear whether this firestorm will differ from the rest. Historically, the displeasure runs hot for about a year or so, then the fire dies out.
Further, even less certain is whether these Americans will seek to reconcile the contradiction between the American economic system and the political system (democracy), or even whether most of these Americans will recognize it.
Continue reading It Won't Be Easy to Get the Money Out of U.S. Politics
Posted Jan 21st 2010 2:30PM by Kevin Kersten (RSS feed)
Filed under: Politics

Last month Congress increased the debt limit to $12.4 million and with the
U.S. debt clock showing the debt at 12.3 million Congress is going to need to act soon and now the Senate
wants to raise the limit $14.3 trillion.
Lets break down the numbers:
14.3 trillion proposed debt limit ($14,300,000,000,000)
308.5 million
estimated U.S. population (308,500,000)
$46,353 proposed limit per person
$185,413 per family of four
Continue reading Are You Ready for More U.S. Debt?
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