BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Visa Drops After Financial Reform Bill Passes]]>http://www.bloggingstocks.com/2010/07/16/visa-drops-after-financial-reform-bill-passes/http://www.bloggingstocks.com/2010/07/16/visa-drops-after-financial-reform-bill-passes/http://www.bloggingstocks.com/2010/07/16/visa-drops-after-financial-reform-bill-passes/#commentsFiled under: , , , , ,

V logoVisa (V - option chain) stock is trading lower along with most credit card companies this morning after the Senate passed a financial regulatory overhaul yesterday which would reduce interchange fees that retailers must pay issuers and banks for debit-card transactions. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on V.

This morning, V opened at $73.60. So far today the stock has hit a high of $73.75 and a low of $71.27. As of 12:15, V is trading at $72.69, down $2.59 (-3.4%). The chart for V looks bullish and S&P gives V a positive 5 STARS (out of 5) strong buy ranking.

Continue reading Visa Drops After Financial Reform Bill Passes

Visa Drops After Financial Reform Bill Passes originally appeared on BloggingStocks on Fri, 16 Jul 2010 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>financial reformInvestors ObserveroptionsSenateVVisaFri, 16 Jul 2010 13:30:00 EST<![CDATA[Unemployment Benefits, Build America Bonds Programs Stall in Senate]]>http://www.bloggingstocks.com/2010/06/25/unemployment-benefits-build-america-bonds-programs-stall-in-sen/http://www.bloggingstocks.com/2010/06/25/unemployment-benefits-build-america-bonds-programs-stall-in-sen/http://www.bloggingstocks.com/2010/06/25/unemployment-benefits-build-america-bonds-programs-stall-in-sen/#commentsFiled under: , ,

In the process that saw the Senate Republicans block, via filibuster, an extension of unemployment benefits this week, the Senate also rejected an effort to extend the Build America Bond program. Without an extension, the program will expire on December 31.

Talk about irrationality in spades.

President Obama introduced the Build America Bond program as a way to make more capital sources available to state/local governments, after capital became constrained as a result of the financial crisis. The program provides a 35% subsidy from the U.S. Treasury to state/local governments for interest costs, Bloomberg News reported Friday, effectively increasing the pool of private capital that would consider such investments.

Continue reading Unemployment Benefits, Build America Bonds Programs Stall in Senate

Unemployment Benefits, Build America Bonds Programs Stall in Senate originally appeared on BloggingStocks on Fri, 25 Jun 2010 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Build America bondsfeaturedinthenewssenateunemployment benefitsFri, 25 Jun 2010 17:30:00 EST<![CDATA[U.S. Senate Votes to Approve a $15 Billion Jobs Bill]]>http://www.bloggingstocks.com/2010/02/23/u-s-senate-approves-a-15-billion-jobs-bill/http://www.bloggingstocks.com/2010/02/23/u-s-senate-approves-a-15-billion-jobs-bill/http://www.bloggingstocks.com/2010/02/23/u-s-senate-approves-a-15-billion-jobs-bill/#commentsFiled under: , ,

After months of wrangling, the U.S. Senate voted to move along a $15 billion jobs bill. The vote was 62-30 and avoided a Republican filibuster.

Originally, the bill had a price tag of $85 billion. Harry Reid, Senate majority leader, could not muster the votes for this bill. By scaling it down he was able to garner the 62-30 vote.

Here are some key provisions of the bill:

Continue reading U.S. Senate Votes to Approve a $15 Billion Jobs Bill

U.S. Senate Votes to Approve a $15 Billion Jobs Bill originally appeared on BloggingStocks on Tue, 23 Feb 2010 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>employmentinthenewsjobssenateTue, 23 Feb 2010 10:00:00 EST<![CDATA[Is Global Warming Dead? Stocks to Dump ...]]>http://www.bloggingstocks.com/2010/02/11/is-global-warming-dead-stocks-to-dump/http://www.bloggingstocks.com/2010/02/11/is-global-warming-dead-stocks-to-dump/http://www.bloggingstocks.com/2010/02/11/is-global-warming-dead-stocks-to-dump/#commentsFiled under: , , ,

With the failed global warming submit; leaked emails, faked numbers, suppressed data and major snow storms hitting both Europe and America global warning aka "climategate" seems to have taken a major hit recently. Some are even going as far as predicting the demise of global warming.

This could be a big turning point for global warming. Having been caught in a lie; they have lost massive amount of creditability and now face an uphill battle to convince a skeptical public. Certainly, global warming may regain public credibility, but it will face a lot of scrutiny as it tries.

Continue reading Is Global Warming Dead? Stocks to Dump ...

Is Global Warming Dead? Stocks to Dump ... originally appeared on BloggingStocks on Thu, 11 Feb 2010 15:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>admal gorebpclimate changeclimategatecvxfeaturedfslrglobal warmingmonsenatesnowspwrastormsxomThu, 11 Feb 2010 15:10:00 EST<![CDATA[Are You Ready for More U.S. Debt?]]>http://www.bloggingstocks.com/2010/01/21/are-you-ready-for-more-u-s-debt/http://www.bloggingstocks.com/2010/01/21/are-you-ready-for-more-u-s-debt/http://www.bloggingstocks.com/2010/01/21/are-you-ready-for-more-u-s-debt/#commentsFiled under:

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?

Are You Ready for More U.S. Debt? originally appeared on BloggingStocks on Thu, 21 Jan 2010 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CongressinthenewsSenatespendingUs debt clockUsDebtClockThu, 21 Jan 2010 14:30:00 EST<![CDATA[Contractor Spending in Afghanistan Includes $1 Billion Wasted]]>http://www.bloggingstocks.com/2009/12/18/contractor-spending-in-afghanistan-includes-1-billion-wasted/http://www.bloggingstocks.com/2009/12/18/contractor-spending-in-afghanistan-includes-1-billion-wasted/http://www.bloggingstocks.com/2009/12/18/contractor-spending-in-afghanistan-includes-1-billion-wasted/#commentsFiled under:

An audit memorandum prepared by Senator Claire McCaskill's staff puts the amount of money spent on reconstruction and redevelopment contracts in Afghanistan at $23 billion, with $1 billion of it waste. So, was $22 billion well spent?

The funds have been spent on a variety of projects, including the construction of roads and the development of power generation utilities to agriculture, urban development and water sanitation.

Continue reading Contractor Spending in Afghanistan Includes $1 Billion Wasted

Contractor Spending in Afghanistan Includes $1 Billion Wasted originally appeared on BloggingStocks on Fri, 18 Dec 2009 10:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>afghanistanAfghanistan warAfghanistanWarHomeland SecurityHomelandSecurityhouse of representativesHouseOfRepresentativesinthenewsmilitarymilitary contractsMilitaryContractsSenateFri, 18 Dec 2009 10:30:00 EST<![CDATA[Study: Employers would cut health benefits to avoid excise tax ]]>http://www.bloggingstocks.com/2009/12/06/study-employers-would-cut-health-benefits-to-avoid-excise-tax/http://www.bloggingstocks.com/2009/12/06/study-employers-would-cut-health-benefits-to-avoid-excise-tax/http://www.bloggingstocks.com/2009/12/06/study-employers-would-cut-health-benefits-to-avoid-excise-tax/#commentsFiled under: ,

If the Senate's proposed Patient Protection and Affordable Care Act passes the Senate, the working stiff will probably be affected. A study by Mercer finds that 63% of employers would cut the health benefits they offer in order to avoid an excise tax included in the bill.

Mercer, a division of Marsh & McLennan Companies (MMC), reveals that 25% of employers offer health insurance programs that would be "too generous" under the act, making them subject to a 40% nondeductible tax on the excess value.

Continue reading Study: Employers would cut health benefits to avoid excise tax

Study: Employers would cut health benefits to avoid excise tax originally appeared on BloggingStocks on Sun, 06 Dec 2009 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>health carehealth insuranceinsurance industryinthenewsmarsh and mclennanmercerMMCSenateSun, 06 Dec 2009 11:40:00 EST<![CDATA[White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief]]>http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/#commentsFiled under: , , , , ,

If mortgage companies start to feel like they're losing elbow room, it's probably because they're starting to get nudged by the Obama administration. The folks in the White House are planning to kick off a campaign to squeeze mortgage companies to lower payments for even more borrowers who are in trouble. The $75 billion program, financed by taxpayers, to keep homeowners from falling into default appears to be in trouble.

Mortgage lenders have increased their efforts to modify borrowers' mortgages, but most of them are still in a trial stage, which will last up to five months. Only a handful have been made permanent, which isn't good enough for Washington. The Treasury Department's assistant secretary for financial institutions, Michael S. Barr, told the New York Times, "The banks are not doing a good enough job," continuing, "Some of the firms ought to be embarrassed, and they will be."

Continue reading White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief

White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief originally appeared on BloggingStocks on Sun, 29 Nov 2009 15:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>congressDepartment of the Treasuryfannie maeinthenewsJPMJPM Morgan Chasemortgage crisismortgage industrymortgage lendersmortgage lendingmortgagesObama AdministrationSenatetaxpayerstreasury departmentwhite houseSun, 29 Nov 2009 15:10:00 EST<![CDATA[Climate change law could cost 13 cents a gallon]]>http://www.bloggingstocks.com/2009/11/03/climate-change-law-could-cost-13-cents-a-gallon/http://www.bloggingstocks.com/2009/11/03/climate-change-law-could-cost-13-cents-a-gallon/http://www.bloggingstocks.com/2009/11/03/climate-change-law-could-cost-13-cents-a-gallon/#commentsFiled under: ,

Climate change isn't going to be free. A report by Point Carbon, an independent consulting company that tracks global carbon and energy markets, estimates that U.S. climate legislation could push the price at the pump 13 cents a gallon higher. The increase would result from the cost to oil companies for carbon permits, which they can pass along to consumers.

This is a much rosier view than that of the oil industry, however, which believes a U.S. cap-and-trade system would thrash demand for gasoline and lead to the shuttering of many refineries.

Continue reading Climate change law could cost 13 cents a gallon

Climate change law could cost 13 cents a gallon originally appeared on BloggingStocks on Tue, 03 Nov 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cap and trade billCapAndTradeBillcarbon creditscarbon emissionsCarbonCreditsCarbonEmissionsclimate billclimate changeemissionsreductionsenergyexelonexxonmobilgas pricesglobal warmingGlobalWarminginthenewsoilsenatexomTue, 03 Nov 2009 09:00:00 EST<![CDATA[Senate amendment wants the Fed to name names]]>http://www.bloggingstocks.com/2009/04/03/senate-amendment-wants-the-fed-to-name-names/http://www.bloggingstocks.com/2009/04/03/senate-amendment-wants-the-fed-to-name-names/http://www.bloggingstocks.com/2009/04/03/senate-amendment-wants-the-fed-to-name-names/#commentsFiled under: ,

The American people are mad as hell at all the money that has been given to who knows who. So Senators Bernie Sanders, Russ Feingold, Jim Webb and Jim Bunning sponsored an amendment to a budget blueprint to get at more transparency as to where all this money is going. Bernie Sanders is quoted as saying: " The American people have the right to know who the Fed is lending taxpayer dollars to, how much they are getting and what the Fed is asking in return for the money."

The amendment calls on the Fed to identify each firm it has given assistance to, how much the assistance was worth and what the firm is doing with the money. It is important to note that the amendment passed by a vote of 59 to 39. In other words over half the Senate is leaning on the Fed for more information about what they are doing.

Continue reading Senate amendment wants the Fed to name names

Senate amendment wants the Fed to name names originally appeared on BloggingStocks on Fri, 03 Apr 2009 14:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>federal reserveFederalReserveinthenewsSenateTarp disclosureTarpDisclosureFri, 03 Apr 2009 14:00:00 EST<![CDATA[Senate likely to revise stimulus package after House approval]]>http://www.bloggingstocks.com/2009/01/29/senate-likely-to-revise-stimulus-package-after-house-approval/http://www.bloggingstocks.com/2009/01/29/senate-likely-to-revise-stimulus-package-after-house-approval/http://www.bloggingstocks.com/2009/01/29/senate-likely-to-revise-stimulus-package-after-house-approval/#commentsFiled under: ,

Following's Wednesday's 244-188 House vote -- one in which, despite President Obama's efforts to cultivate Republican ideas, every House Republican voted against it -- the focus on the stimulus package shifts to the Senate, where plan revisions are likely.

Assuming Senate passage, any differences between the two versions would have to be resolved in a conference committee.

Republicans are complaining that the bill has too many traditional Democratic-constituency-based programs and 'pork,' while some Democrats are concerned the bill does not contain enough spending - - in particular infrastructure spending, to create jobs the U.S. economy needs. The U.S. economy lost more than 2.6 million jobs in 2008 -- including 1 million in the past two months -- and the nation's unemployment rate has soared to 7.2%.

Continue reading Senate likely to revise stimulus package after House approval

Senate likely to revise stimulus package after House approval originally appeared on BloggingStocks on Thu, 29 Jan 2009 10:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CongressDemocratsfeaturedfiscal policyfiscal stimulus packageHouseObamaObama administrationRepublicansSenatetaxesThu, 29 Jan 2009 10:30:00 EST<![CDATA[Senate, House seen passing second-half of revised TARP]]>http://www.bloggingstocks.com/2009/01/15/senate-house-seen-passing-second-half-of-revised-tarp/http://www.bloggingstocks.com/2009/01/15/senate-house-seen-passing-second-half-of-revised-tarp/http://www.bloggingstocks.com/2009/01/15/senate-house-seen-passing-second-half-of-revised-tarp/#commentsFiled under: , , ,

The Senate is expected today to vote on the revised, second $350 billion TARP allotment, while the House Speaker also indicated she expects the U.S. Congress to approve the measure.

House Speaker Nancy Pelosi, D-California, indicated to ABCNews that Congress would approve President-elect Barack Obama's request for another $350 billion in bailout / rescue funds because this time it will be spent by "a president who will enforce the law." The House vote is expected to be close, however.

To block Obama's request, both the House and Senate must vote to withhold the money, assuming each chamber has the two-thirds vote to override a potential Obama veto.

On Wednesday, Senate Republicans won assurances from Obama administration officials that the administration would use the money for financial institutions, not for aid to auto manufacturers and other industries, Bloomberg News reported. Republicans have criticized the Bush administration's decision to lend $13.4 billion to assist the recovery of General Motors (NYSE: GM) and Chrysler.

Is tracking TARP money feasible?

Both Senate and House lawmakers have called on greater accountability and transparency to 'verify and track' where the money is going, but economist David H. Wang said that isn't feasible.

Continue reading Senate, House seen passing second-half of revised TARP

Senate, House seen passing second-half of revised TARP originally appeared on BloggingStocks on Thu, 15 Jan 2009 09:51:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailout billCongressDemocratsHouseinthenewsRepublicansrescue billSenateTARPThu, 15 Jan 2009 09:51:00 EST<![CDATA[Sunday Funnies: Feds could buy GM & Ford]]>http://www.bloggingstocks.com/2008/12/14/sunday-funnies-feds-could-buy-gm-and-ford/http://www.bloggingstocks.com/2008/12/14/sunday-funnies-feds-could-buy-gm-and-ford/http://www.bloggingstocks.com/2008/12/14/sunday-funnies-feds-could-buy-gm-and-ford/#commentsFiled under: , , , , , ,

In a high stakes game of chicken this past week, the Senate GOP and UAW leadership could not agree on setting a date certain for cutting members wages and the hard-line senators would not accept anything less. (See Auto 'support fund': Senate & UAW clash.)

One of the ironies of the proposed, and not passed, Federal bailout, or support fund, as I have begun to call it, depending on your point of view, is that the proposed $14 billion is more than the value Wall Street currently places on the two companies.

General Motors (NYSE: GM) closed Friday at $3.94, down $0.18 or 4.37%, with a capitalization of $2.4 billion. Ford (NYSE: F) closed at $3.04, up $0.14 or4.83%, with a capitalization of $7.04 billion. The combined value therefore is $9.44 billion; yes folks, another Washington bargain!

While world markets sank on the news of the failed talks, U.S. investors yawned and were unimpressed with activity in foreign markets -- all three of the major indices ended up for the day. Perhaps that's because temporarily propping up the two companies by spending more than they're worth made no sense to anyone outside Washington D.C. or Detroit.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture and planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not own shares of GM or Ford.

Sunday Funnies: Feds could buy GM & Ford originally appeared on BloggingStocks on Sun, 14 Dec 2008 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailoutbanruptcyDetroitFFordGeneral MotorsGMriskSenatesheldon liberUAWSun, 14 Dec 2008 16:40:00 EST<![CDATA[Auto 'support fund': Senate & UAW clash]]>http://www.bloggingstocks.com/2008/12/12/auto-support-fund-senate-and-uaw-clash/http://www.bloggingstocks.com/2008/12/12/auto-support-fund-senate-and-uaw-clash/http://www.bloggingstocks.com/2008/12/12/auto-support-fund-senate-and-uaw-clash/#commentsFiled under: , , , , , , , ,

Well yesterday's operative word was "might" as in the congress might pass a bill to support the auto industry and prevent the potential bankruptcy of General Motors (NYSE: GM), Ford (NYSE: F) and privately held Chrysler. Things have changed and for now might has become won't -- as in nothing doing!

Republicans in the Senate clashed with the UAW, Democrats and the White House over a thinly viable plan to provide a $14 billion aid package to forestall industry collapse and give all sides the opportunity to improve a bad situation in the first quarter of 2009 under certain conditions.

The breaking point was the UAW's refusal to agree to immediate wage cuts. While headlines pronounce the deal dead, I say let's wait and see. After all this is Washington, DC, where any reasonable facsimile of the truth has a high probability of being posturing and pretending.

I have been following this saga all week and three days ago I posted Auto industry bailout: A bloated government to lead a bloated industry, when I did not see an easy solution for such institutionalized problems - on all sides. This was followed by Auto industry bailout: Oil companies should take over!, a very provocative suggestion that brought a multitude of comments from our readers, taking the bait. In a more congenial mood I continued with Auto industry bailout: Can't we all just get along? yesterday hopeful some good might come out of intense negotiations in the Capital. Intense yes, successful no, or at least not yet.

Continue reading Auto 'support fund': Senate & UAW clash

Auto 'support fund': Senate & UAW clash originally appeared on BloggingStocks on Fri, 12 Dec 2008 10:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>auto bailoutAutoBailoutbailoutchryslerCongresseconomyFFordGenral MotorsGenralMotorsGMinthenewsmoneySenatesheldon liberSheldonLiberUAWunion benefitsUnionBenefitsWhitehouseFri, 12 Dec 2008 10:15:00 EST<![CDATA[First Solar (FSLR) soars on U.S. tax bill implications]]>http://www.bloggingstocks.com/2008/09/24/first-solar-fslr-soars-on-us-tax-bill-implications/http://www.bloggingstocks.com/2008/09/24/first-solar-fslr-soars-on-us-tax-bill-implications/http://www.bloggingstocks.com/2008/09/24/first-solar-fslr-soars-on-us-tax-bill-implications/#commentsFiled under: , , ,

FSLR logoFirst Solar (NASDAQ: FSLR - option chain) shares are rising today with other solar stocks after the US Senate approved a tax bill yesterday afternoon that extended $18 billion worth of tax credits to producers of alternative energy, including wind and solar power. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on FSLR.

FSLR opened this morning at $220.80. So far today the stock has hit a low of $218.02 and a high of $229.39. As of 12:45, FSLR is trading at $225.32, up $14.43 (6.8%). The chart for FSLR looks bullish and S&P gives FSLR a positive 4 STARS (out of 5) buy ranking.

For a bullish hedged play on this stock, I would consider an October bull-put credit spread below the $170 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 7.5% return in just three weeks as long as FSLR is above $170 at October expiration. First Solar would have to fall by more than 24% before we would start to lose money. Learn more about this type of trade here.

Continue reading First Solar (FSLR) soars on U.S. tax bill implications

First Solar (FSLR) soars on U.S. tax bill implications originally appeared on BloggingStocks on Wed, 24 Sep 2008 13:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>energyFirst SolarFirstSolarFSLRinthenewsInvestors ObserverInvestorsObserveroptionssenatetaxWed, 24 Sep 2008 13:35:00 EST<![CDATA[Market highlights for next week: Lowe's, Hewlett-Packard reporting earnings]]>http://www.bloggingstocks.com/2008/05/16/market-highlights-for-next-week-lowes-hewlett-packard-reporti/http://www.bloggingstocks.com/2008/05/16/market-highlights-for-next-week-lowes-hewlett-packard-reporti/http://www.bloggingstocks.com/2008/05/16/market-highlights-for-next-week-lowes-hewlett-packard-reporti/#commentsFiled under: , , , , , ,

Monday, May 19
Tuesday, May 20

Continue reading Market highlights for next week: Lowe's, Hewlett-Packard reporting earnings

Market highlights for next week: Lowe's, Hewlett-Packard reporting earnings originally appeared on BloggingStocks on Fri, 16 May 2008 17:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>barnes nobleBarnesNoblebkscacampbell soupCampbellSoupcerncernerciscocpbcscoearningsfederal reserveFederalReservefomcgooggooglehearinghewlett packardHewlettPackardhighlighthpqinthenewslowlowesmdtmedtronicmeetingpetmpetsmartsenateyahooyhooFri, 16 May 2008 17:05:00 EST<![CDATA[Bush announces new $3.1 trillion budget plan]]>http://www.bloggingstocks.com/2008/02/04/bush-announces-new-3-1-trillion-budget-plan/http://www.bloggingstocks.com/2008/02/04/bush-announces-new-3-1-trillion-budget-plan/http://www.bloggingstocks.com/2008/02/04/bush-announces-new-3-1-trillion-budget-plan/#commentsFiled under: , , ,

American President George Bush announced his new budget spending plan today, and the package came out to a total of $3.1 trillion.

Today's federal budget proposal marks the first time in America's history that a budget plan has been in excess of $3 trillion. Bush claims that his budget is "good" and "solid" and that the passing of this budget will help keep the troubled American economy growing.

All in all, this budget looks to lift government spending by 6% during the fiscal year 2009, and it will probably come to no one's surprise that defense gets a nice little boost from today's budget. Bush is looking to allocate 8.2% of his spending on security, and the budget is looking to stake a $70 billion "placeholder" for war costs during 2009. The Pentagon should be pleased with its figures, as Bush is looking to allocate $515.4 billion its way... the highest allocation since WWII (and represents a 7.5% jump).

Continue reading Bush announces new $3.1 trillion budget plan

Bush announces new $3.1 trillion budget plan originally appeared on BloggingStocks on Mon, 04 Feb 2008 16:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budgetCongressfeaturedfederal budgetFederalBudgetGeorge BushGeorgeBushHarry ReidHarryReidHouse of RepresentativesHouseOfRepresentativesinthenewsIraqJudd GreggJuddGreggKent ConradKentConradmedicarePentagonpoliticsSenateSteny HoyerStenyHoyerwarMon, 04 Feb 2008 16:01:00 EST<![CDATA[Senate passes diluted energy bill - will Bush veto?]]>http://www.bloggingstocks.com/2007/06/22/senate-passes-diluted-energy-bill-will-bush-veto/http://www.bloggingstocks.com/2007/06/22/senate-passes-diluted-energy-bill-will-bush-veto/http://www.bloggingstocks.com/2007/06/22/senate-passes-diluted-energy-bill-will-bush-veto/#commentsFiled under: , ,

In 1908, a Ford Model-T traveled 25 miles on a gallon of gasoline. In an attempt to return to those halcyon days, the U.S. voted late Thursday night to pass a new energy bill that sets lofty CAFE goals for the American car fleet.

Along with mandating a fleet average of 35 mpg by 2020 and energy-efficient appliances and lights, the measure will require the fuel industry to raise ethanol production to 36 billion gallons by 2022. Slightly less than 5 billion gallons were produced in 2006.

The first engine to use ethanol as a fuel was built in 1826.

In recognition of the damage to the nation's grain crop prices that increased ethanol production would wreak if it were based on corn, the measure mandates that most of that increase come from cellulose (think wood pulp).

The auto industry, in an embarrassing admission of its continuing inability to forecast consumer demand (if you remember its attitude about the Volkswagen Beetle in the 1960's, you know what I mean), was prepared to filibuster the bill, but the Senate was able to garner enough votes to override. However, the Republicans were able to use this lever to pry out of the bill language that would have taxed the petroleum industry to create a fund a program promoting fuel efficiency. They also were successful in removing a requirement that 15% of the nation's electricity be generated via windmills, solar power and the like.

President Bush's approval on the bill is still in question, though, as he opposes many of the measures including one allowing the government to punish companies found guilty of price-gouging.

In many arenas, the Republican and Democratic parties have little to distinguish between them, but this bill sharply differentiates their approach to the energy problem. This compromise seems to me seems, a strong vote for more of the same policies that have maintained the status quo for generations.

Senate passes diluted energy bill - will Bush veto? originally appeared on BloggingStocks on Fri, 22 Jun 2007 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto industryAutoIndustryCAFEcarmakerscellulose ethanolCelluloseEthanolenergy billenergy efficiencyenergy policyEnergyBillEnergyEfficiencyEnergyPolicyethanolethanol gasolineEthanolGasolinefleet averageFleetAveragempgpetroleum industryPetroleumIndustrySenateFri, 22 Jun 2007 11:30:00 EST