Archive for the ‘U.S. Federal Government’ Category
Seething U.S. Journalists Angered About Taking Commercial Flights To Cover Secretary Tillerson in Asia…
Posted: March 16, 2017 in President Trump, U.S. Federal GovernmentTags: Secretary of State, Secretary Rex Tillerson
U.S. Senate approves bill to raise debt ceiling to $17.2 Trillion and continue debt spending like ‘there is no tomorrow’
Posted: February 14, 2014 in American Debt Crisis, Economy, Fiscal Cliff, President Obama, U.S. Debt Crisis, U.S. Federal Government, U.S. LegislatureTags: American Debt Crisis, ATRIDIM NEWS JOURNAL, Captain Rick, Democrat, Kicking the Debt Can, Republican, U.S Spending, U.S. Congress, U.S. Debt Ceiling, U.S. Debt Crisis, U.S. Economy, U.S. Federal Government, U.S. Legislature
Captain Rick: The U.S. Senate gave its approval to raise the nation’s debt ceiling to $17.2 Trillion, allowing the government to continue spending like ‘drunkards’ by borrowing more money to pay its bills through March 2015.
The politically charged issue cleared the chamber 55-43 after winning House approval Tuesday. The measure now goes to ‘debt loving’ President Barack Obama for his guaranteed signature. Approval removes the prospect of another protracted political fight over fiscal policy as Democrats and Republicans gear up for November’s midterm elections. How politically convenient is this?
It was a ‘clean’ bill…meaning there were no strings attached that would mandate new spending cuts. It gives approval to continue spending like ‘there is no tomorrow’. Our representatives in DC have kicked America’s ‘debt can’ down the road again for the N’th time. How much farther can it be kicked? I suspect…not much.
I wonder with dismay as to how Americans can stand for this total disregard of fiscal common sense? How can Americans continue to elect such fiscally reckless representatives to the U.S. Legislature. I see this tragic event bringing America one step closer to the edge of the real ‘fiscal cliff’. At the bottom…I envision America as a ‘third world country.’
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Obama’s 2014 State of the Union … a new low
Posted: January 30, 2014 in America, American Debt Crisis, Economy, Obamacare, President Obama, U.S. Debt Crisis, U.S. Federal Government, United StatesTags: America, ATRIDIM NEWS JOURNAL, Captain Rick, Obamacare, President Obama, State of the Union, U.S Spending, U.S. Budget, U.S. Debt, U.S. Debt Crisis, U.S. deficit
Captain Rick: Obama’s 2014 ‘State of the Union struck a new low among my unbroken record of watching every one since 1960. Obama’s meaningless hype, wishful thinking and the constant bobbing of his head from side to side to view the teleprompters…looking like he was watching a tennis match…almost hypnotized me. It was a nice try on his part…but it just put me to sleep.
Credits: Thanks Ken of California for contributing the above graphic
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‘Web Sites for Dummies’ … now in hand of HHS Sec. Kathleen Sebelius to guide her in fixing the rollout fiasco of Healthcare.gov
Posted: November 7, 2013 in Medicaid, Obamacare, U.S. Federal GovernmentTags: Affordable Care Act, ATRIDIM NEWS JOURNAL, Captain Rick, Federal Government, Health care, Medicaid Expansion, Obamacare, U.S. Department of Health and Human Services, U.S. Federal Government
Captain Rick: The rollout of the ObamaCare website ‘Healthcare.gov’ was a fiasco. The look on the face of Secretary Sebelius as she receives a a copy of ‘Web Sites for Dummies’ is ‘priceless’ and speaks for itself.
The book was a gift from GOP Tennessee Senator Brian Kelsey, an opponent of ObamaCare’s Medicaid expansion, who was on hand when Sebelius visited a Memphis library on November 4, 2013 to promote the new national health plan. When Kelsey sprung the gift on her, the embattled HHS secretary didn’t look particularly grateful, as revealed in a photo snapped by the Memphis Daily News.
At the event, Sibelius continued her apology tour for the botched site – while vowing to fix it.
The do-it-yourself guide, which goes for about $25 on Amazon, bills itself as “a step-by-step guide for creating your own web sites.”
According to estimates, the feds have spent $630 million on information technology for the creation and rollout of Healthcare.gov, which has been beset with problems and shut down repeatedly.
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U.S. Government Shutdown looming again on October 1, 2013 … Likelihood it will: 99%
Posted: September 27, 2013 in American Debt Crisis, Economy, Fiscal Cliff, Obamacare, President Obama, U.S. Debt Crisis, U.S. Federal Government, U.S. Government Shutdown, U.S. LegislatureTags: America, American Debt Crisis, ATRIDIM NEWS JOURNAL, Captain Rick, Debt Ceiling, deficit spending, Democrat, Economy, Federal Government, Federal spending, Fiscal Cliff, GDP, government spending, Gross National Product, National debt, Obamacare, President Obama, Republican, Sequester, Spending cuts, U.S Spending, U.S. Congress, U.S. Debt Crisis, U.S. deficit, U.S. Federal Government, U.S. Government Shutdown, U.S. Legislature
Captain Rick: A shutdown of the U.S. Government will most likely begin on October 1, 2013, the beginning of the new fiscal year. There is currently no budget agreement to fund the U.S. Government for the coming year. The Democrat led Senate and the the Republican led House are in a stalemate that does not appear likely will be rectified by October 1. The real showdown will come on or before October 17, when the U.S. Government reaches the debt ceiling of $16.699 trillion and will begin defaulting on its financial obligations, an event that has never before occurred.
The last threat of shutdown occurred on March 27, 2013. It was averted by an agreement to allow Sequester spending cut’s (part of the ‘Fiscal Cliff’ legislation that became effective on January 1, 2013) to gain some flexibility regarding where to make spending cuts, in lieu of the mandatory across the board cuts.
My goal is to help increase understanding of the extremely important events that are unfolding…
U.S. Government Shutdown … What will happen? Non essential elements of the government will begin shutting down. These are things like National Parks and Monuments and the federal employees and contractors that support them. The employees would be furloughed. Contractors would have their payments delayed. At no time in the past has a shutdown lasted for more than a month. In every case the contractors eventually got paid and the furloughed employees were awarded back pay, so in essence, they received a nice long paid vacation, compliments of the U.S. taxpayers. In every previous case of shutdown, it ended up costing tax payers more than if the government had remained open.
What does a shutdown accomplish? Nothing, except increased cost. It is however, a necessary reminder that our government needs spending to remain less than revenue. In reality the U.S. has been spending far more than it receives in revenue, especially in recent years.
U.S annual spending: $3.52 trillion
U.S. annual revenue: $2.69 trillion
U.S. annual deficit: $825 billion
Total U.S. National debt: $16.95 trillion
U.S. GDP: $15.91 trillion (U.S. Debt exceeds GDP…a wake up call to get the fiscal house in order…or prepare for economic destruction)
Who is to blame? First and foremost to blame is President Obama. He is our president, elected to lead our nation in a positive direction…yet he has demonstrated the most reckless spending in American history, especially with his Fed’s continuation of pumping $85 billion per month of ‘Quantitative Easing’ debt dollars into the American Economy (adding directly to the U.S. National Debt) in an effort to make an economically sick nation look just anemic. It is all ‘smoke and mirrors’ that is doing nothing more than increasing America’s debt at an astronomic expense and burden to future generations. Second to blame is the entire U.S. Legislature, including the Senate and House, Republicans and Democrats. None of them impress me as having the intelligence or ability to agree on a plan to withdraw America from its insatiable addiction for debt spending far beyond its revenue. I believe most of them have their ‘pockets’ fed by ‘big money’.
Obama passes blame and creates fear in news conference: Today I listened to President Obama speak in a news conference casting fear upon Americans by placing blame for his reckless spending on the shoulders of the U.S. House:
“If Congress chooses not to pass a budget by Monday, the end of the fiscal year, they will shut down the government along with many vital services that the American people depend on,” The Senate “acted responsibly” by passing its bill, and “now it’s up to the Republicans in the House of Representatives to do the same.”
He asked Republicans “to think about who you’re hurting” by letting the government shut down, and said “it would throw a wrench into the gears of our economy at a time when those gears have gained some traction.”
He also made clear that a government shutdown wouldn’t stop the Affordable Care Act from being implemented. “That’s not going to happen. More than 100 million Americans currently already have new benefits and protections under the law. On Tuesday, about 40 million more Americans will be able to finally buy quality affordable health care just like anybody else.”
Reality Check. What really happened: This was one of the most disgusting, fear-causing set of statements I have heard President Obama make recently. What really happened is that the House sent a bill to the Senate that included defunding Obamacare (a program with an enormous cost that America can not afford at this time of financial crisis). The Senate revised the bill to remove the Obamacare defunding and sent it back to the House. In opposition to Obama’s statement, I believe the Senate did not act responsibly. If the House does not pass the bill on Monday (which it should not), it will not be the House that causes the shutdown as Obama warns. It will be the result of the failure of the President and the entire U.S. Legislature combined. Obama said that a shutdown will stop many vital services. This is not true, unless the shutdown lasted for a long period of time…or Obama chooses to focus on certain entities for political gain. Obama’s scare tactics of asking Republicans to ‘think of who they are hurting’ by the government shutdown are absolutely despicable. President Obama should ask himself who he is hurting by spreading such fear and lies. This shutdown does throw a ‘wrench’ into Obamas ‘gears’ to make the economy look ok, when it is really sucking badly. Obama is fixated on Obamacare, a mark he hopes the world will remember him by. He will push it, even if it contributes to the financial destruction of America. In reality, 40 million Americans are going to find out that ‘affordable health care’ is not really affordable and the majority of them will pay (or evade) the penalty to avoid it. The resultant unexpected, massive costs will lie firmly on the backs of American tax payers and add directly to the U.S. national debt. I have this on my list of future blog reports. It sounds to me like Obama is running scared and is choosing to hide his fear by casting false fear on Americans. That scares me. Does it scare you?
View the comments (below) for ongoing updates of important happenings at the U.S. Capitol concerning this unfolding story.
I have done my very best to chronicle the events that contributed to this first U.S. government shutdown in nearly 18 years…as displayed in my comment updates below. This report could be among the best chronicles on the web. I am honored that Google and other search engines have picked up on this report. The views for this report have exceeded those of all other ANJ reports by a factor of 10X+. The view stats from the past week far surpass any previous week. It tells me that there are lots of people that are tuning into this blog post to get the real facts…not the hype found on virtually all web news sites and especially TV news casts.
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Bond Giant PIMCO’s Bill Gross tells the Fed: ‘Quantitative Easing’ is not working … it’s like a “leukemia patient on New Age Chemo”
Posted: June 4, 2013 in Europe, Fed Financial Policy, Japan, Stock & Bond Market, U.K., U.S. Federal Government, United StatesTags: Abenomics, atridim, Ben Bernanke, Captain Rick, Central Banks, ECB, Economic Growth, Economy, EU, Europe, European Central Bank, European Union, Eurozone, Fed, Federal Government, Federal Reserve, Federal spending, Financial Policy, GDP, Gross National Product, investing, Japan, PIMCO's Bill Gross, QE, Quantitative Easing, Stock & Bond Market, U.K., U.S., U.S. Federal Government, United States
Captain Rick: PIMCO’s Bill Gross says that ultra low interest rate policies and ongoing bond buying programs like ‘Quantitative Easing’ around the world aren’t working. Bill refers to it as a global financial system that is "beginning to resemble a leukemia patient with New Age chemotherapy, desperately attempting to cure an economy that requires structural as opposed monetary solutions." He is challenging the Federal Reserve and other central banks to become part of the solution rather than part of the problem.
Bill Gross, founder and co-chief investment officer of bond giant PIMCO. He is often called the world’s ‘bond king’.
I recognize Bill as one of the worlds most intelligent minds concerning everything related to bonds. Bonds help make our world grow. Bonds are the life blood of our cities, states and countries of our world.
Bill writes a monthly ‘Investment Outlook’ news letter. His June report is entitled “Wounded Heart”, a nod to Bonnie Raitt’s 2002 tune. It is one of his finest. I will do my best to sum up his eloquent words of wisdom for the U.S. and other countries including Japan, England and Europe who are practicing ‘Quantitative Easing’ fiscal programs that are not working.
Excerpts from Bills “Wounded Heart” report:
“While the global central banks’ policies have stabilized economies, they haven’t succeeded in returning them to old normal growth rates”
"There comes a point when no matter how much blood is being pumped through the system as it is now, with zero-based policy rates and global quantitative easing programs, that the blood itself may become anemic, oxygen-starved, or even leukemic, with white blood cells destroying more productive red cell counterparts"
And to Fed chief Ben Bernanke’s claims that once economic growth has been restored to normal levels, financial markets can also return to normal interest rates and returns, Gross has a few stern words:
"Well it’s been five years Mr. Chairman and the real economy has not once over a 12-month period of time grown faster than 2.5%"
"Perhaps, in addition to a fiscally confused Washington, it’s your policies that may be now part of the problem rather than the solution."
To investors, Gross advises to reduce risk as the Fed continues to try to mend a wounded heart with blood that lacks the necessary oxygen. "Investors should look for a pacemaker to follow a less risky, lower returning, but more life sustaining path."
Read the entire Investment Outlook: “Wounded Heart” by William H. Gross: http://www.pimco.com/EN/Insights/Pages/Wounded-Heart.aspx
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