US administration paces up to resolve debt fight

Count down for saving itself from debt default has already started for the Obama administration.The Congress is fighting fiercely  in the weekend session on Capitol Hill to save the United States from another aftermath of economic crunch.

The GOP-led House approved the bill seeking for increasing borrowing limit for the US economy from the previous limit of $14.3  for an expensive deal for reducingcuts and other budgetary amendment.

However it too the Democrats almost two hours to set for a test vote for building up their own debt ceiling and thrust it over their opponents.

The Democrats, Republicans and the US government are to negotiate deeply over this issue looking for the most acceptable compromise to make the economy run and GOP senators are expected to play vital roles in this regard.

Obama, revealed on Saturday that his government was short of time and called on all diplomats to end “political gamesmanship” for the sake of America and its people. The final outcome of this fiasco is yet to be seen however, it is quite obvious that both the Democrats and the Republicans are standing at odd edges this time and looking for ways to pressurize diplomats for an additional budget.

US Senator supports reform in sale tax for online transactions

The debt-crisis driven US economy seeks for earning from  taxes from online transactions  and that too in billions! A senator presents a bill on Friday that claims to seek solutions for the giant financial crunch that the US economy is fighting with, by earning from nothing.

The United States is to lose an additional $10 billion in 2011 and $11.4 billion next year to pay sale taxes which are left uncollected during online shopping and other transactions, concluded a group of three professors at Tennessee.

Democratic Senator Dick Durbin, who has come up with a bill for sale tax reforms is supported by institutions like the National Governors Association as well as the National Retail Federation  and also received affirmation from many online retailers, including Amazon.

Luke Kenley, a state senator from Indiana confirmed that this strategy is being initiated at the state level and a group of 24 states called Streamlined Sales Tax Governing Board, which he heads, is already calling on the Congress to come up with a uniform sale tax for all retailers, be it online or else.

Currently accounting for a volume of size of $165 billion, the online retail market is a new sphere of attention for the financial experts, who predict a bright possibility of 15 percent annual growth in the industry in next ten years.

Obama administration fail to free US from debt

The United States is failing to break through its debt deadlock. The US Federal Reserve is now gearing up to provide new guidelines to American banks to save themselves through resurging recession.In case the country fails to revamp its borrowing capacity, all the banks would face hard time to survive through tough waters.

Fed spokeswoman Barbara Hagenbaugh revealed on Thursday that the Federal Reserve is hopeful to provide proper guidelines for an operational financial planning.

The US Treasury has clarified that it would not be able to fetch more loans if the Congress fails to raise the debt ceiling from $14.3 trillion. This would also bring the possibilities of fall of Obama government eventually.

A debt default will also make the American economy succumb to severe financial crisis. The officer did not, however reveal anything about the measures of contingency plans being thought over by the authorities.

Officials also showed optimism that the US economy may survive this crisis provided Obama administration comes up with a hard solution before August 2 deadline.

Experts, however, predict severe results of debt default over US financial market and economy. The officials have also indicated of the possibilities of need for reevaluation of alternative strategies for US banks to be able to use emergency loans.

 

Increasing debt looms over White House, Wall St. fate

The US economy still fights against vigorous impacts of recession, which has hollowed the nation’s financial health.

The US diplomats fledge country’s international commitments and want to snatch the outsourced employment opportunities shifted to China and other developing countries.

” Dave Camp, a senator stated China is disrespectful over its international obligations and exploiting recession for its economic interests. In the speech, Camp stated that the current strategies followed by China have raised concern among US  lawmakers and diplomats.

Camp faulted the US administration and its strategies for the current trends in Chinese trade and emphasized over bringing inevitable changes in legislature to check on it.

Camp further stated that Beijing has stolen American business, employment opportunities and therefore, led to decline in industrial growth in the State. The list of its trade abuses is quite long, he added.

Gary Locke was unanimously chose as the next U.S. ambassador to China by the Senate, immediately after Camp finished his words.

Locke, a former Washington state governor, is outgoing Commerce Secretary. He called on the nation to pressurize China too to open its market for American products. He stated that China also needs to follow a flexible currency exchange rate and chech counterfeiting against the US goods and services.

California Dream Act paves way to education, job for illegal immigrants

Jerry Brown, Governor of California has finally signed a bill to let illegal immigrants receive scholarship in the state and get education. The bill, which has finally become a dream law now with signing by the governor, had been passed by the state in July. The bill aimed to help illegal immigrants get valid diploma and degree after attending three years of graduation in California.

The bill appeared in the legislature following a similar measure was opposed in Maryland. A state referendum has been sought in Maryland to repeal the law. Brown, a Democrat referred the Californian Dream Act as a sign of state’s progress toward a powerful and equal opportunity society.

This law empowers all illegal immigrants who have lived in the United States for at least five years and indirectly paves way for their citizenship by joining college or military. The same bill was presented in December 2010 also, but it was submerged following the Republicans took control over the House of Representatives.

The California Dream Act however has been severely criticized by its opponents who call it a false promise to the illegal immigrants in the United States. They further keep on saying that, even doing college or opting for military services will not change the status of illegal immigrants and they would not get any legal employment in the state.

The migrant community of the state hails the California Dream Act as a path to be a legal part of the system especially for those who have come to the United States by illegal means.

“Baby Killer” Released from Prison in Orlando

Casey Anthony who was found not to be guilty of the murder of 2 year old baby was released out of prison admist of tight security. She found innocent about two weeks ago after standing trial on murder charges. Crowds gathered around the prison where she was released on Sunday shouting baby killer. The discharge of the woman did not go down well with the people.

The woman has been standing trial over the death of 2 year old daughter Caylee. The acquital decision by the judge who handled the matter was criticized through out the whole country. The woman who released from Orlando prison was removed from the vehicle with SUV vehicle.

The crowd of about 100 people who had gathered at the place surged at the police barricade to vent their anger on the woman who was discharged and acquitted by court. The police in the city of Orlando had to block the streets where the woman has to pass through to prevent people from hurting her.

The 25 year old woman was later taken to her home town Ohio. Her trial was one of most celebrated murder trials in the country. But the jury found her not guilty at the end of the trial.

Obama Piles Pressure on Congress Over Debt Deal

president Barack Obama has mounted pressure to the Congress to pass the US multi trillion dollar debt deal. He said in a public statement that time is running for congress to pass the deal.

The president is carrying his campaign over the debt deal issue to the court of public opinions just negotiators are going with the processes that are expected to be concluded by August 2. The president is putting his hope on his aides whom he believed had the ability to convince congress to give approval for his requests. He is hoping that agreement will be reached before the deadline of August 2.

 

The president told the congress that time is passing, meanwhile the Republicans in the congress is planning to hold a vote this week on a legislation that that will peg spending to $2.4 trillion.

As things stand now the legislation would be defeated in the senate which is controlled by the Democrats. President Obama has also dismissed the planned voting by the House Republicans saying that they are not serious. He said that American people are interested in the issue of debt and budget. It appears that the debt issue has been polarized along party line.

Sarah Palin Movie Debuts to Empty Theater in Orange County

Come 12.01 today, AMC theaters in some cities were allowed to start showing the documentary of Sarah Palin titled “ The Undefeated”. As the film is being aired in the selected locations the primary actor will be away in California having fun with her parents.

Interestingly the city of California has about 10 theaters where the movie will be aired. This development was revealed by Sarah Palin. She said that she was not keen at watching the movie in the theater adding that she was much interested in finding other things about her grandparents. She said that she was noted during the processes that it is common for people for not to have so much regards for heros in there communities..

According to Palin she arrived at one of the theaters that is located in the city of Orange. She said that she was there at least 45 minutes to the airing of the movie, the time she considered to be a bit far from the actual time the movie would be rolled out. She discovered that the center was filled up with vehicles and it took her about 20 minutes to park her vehicles in the parking spots.

Obama Anoints Former Ohio Attorney General to Lead New Agency

The president of the United States of America Barack Obama has announced that he is nominated the former attorney general of the state of Ohio Mr. Richard Cordray to be the head of Financial Protection Bureau a new agency that is recently created by federal government. Mr Cordray was nominated over and above Elizabeth Warren the person who was instrumental to the inauguration of the agency.

Mr Cordray has a good credential for the job as the aggressive work he did in investigating mortgage foreclosure practice was notable when he was the attorney general of the state of Ohio. Before his present nomination he is an employee of a related agency. The new agency will commence its operations on Thursday this week.

The nominee has spent most of his life championing the course of middle class families. He is vigorously concerned with the plight of the middle class as can be seen from the time he was the attorney general of state of Ohio to the present position he is working before being called up to head the new agency.

Congress created the agency with the aim of completely overhauling the financial regulations as the whole country has learnt a bitter lesson during the credit crisis. The agency is a complete new creation.

California: Governor Endorses Law on Gay Teaching

The governor of California Jerry Brown a Democratic has appended his signature to a new law that made it mandatory for teachings related to gay, lesbians, trans gender, and bisexual Americans to be taught in public schools through out the state. The governor disclosed this development to the press.

With his signing the bill the state of California has become the first state in the whole country to enact such a law. According to the governor the aim of passing and signing the law is to allow public schools to provide information about people with disabilities and the roles they have played in the development of American society. It is the opinion of the governor that his has to be honest.

The signing of this law has put to an end the previous law which has no control over discriminations in education. He said that this law represented a very bold step in the development of state of California. He was full of praises for the law maker who initiated the bill in the state congress. He said that the law will open the opportunity for every citizen irrespective of social standing in the state maintaining that it will make it possible for the contribution to the development of the state to count.