Boehner’s Debt Limit Ransom Demands: Cut ‘Trillions’ Right Now
May 10, 2011
(ChattahBox Political News)—The House Republicans are headed over a cliff, and they are about to take our country with them. As the political battle over the upcoming vote to raise our nation’s debt limit comes to a head, House Speaker John Boehner (R-OH) announced his hostage demands last night before a pinstriped Wall Street crowd at the Economic Club of New York. Boehner is demanding “trillions” in immediate budget cuts as the price for increasing the debt limit. If the White House and Democrats call his bluff, then Boehner must decide if he really has the stomach for taking our country into a catastrophic default, destroying the full faith and credit of the United States. Read more
Senate Dems Target $21 Billion in Tax Giveways to Big Five Oil Companies
May 9, 2011
(ChattahBox Political News)—On Thursday, House Republicans, once again, voted unanimously to preserve billions in tax giveaways to Big Oil, at a time when oil companies are posting record profits and gas prices have soared to over $4.00 a gallon. But Democrats, having the majority in the Senate, are prepared to force Republicans to go on the record supporting the continuation of nearly $21 billion in tax breaks to the biggest oil companies, at a time when the GOP is portraying the federal deficit as the biggest threat to mankind. Last month, Obama devoted his weekly address to eliminating federal oil subsidies. “When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right. They aren’t smart. And we need to end them,” said Obama. Read more
Obama: End ‘Unwarranted’ Tax Giveaways to Big Oil
April 30, 2011
(ChattahBox Political News)—President Obama devoted his weekly address to calling for an end to billions in taxpayer subsidies to Big Oil. The oil companies are raking in obscene profits, while Americans struggle to pay for gas and put food on the table. And Republican lawmakers are further putting the squeeze on ordinary Americans, by balancing the budget on the backs of the poor and middle class,while handing out tax cuts to the rich. Obama says its time to put an end to this insanity, saying “When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right. They aren’t smart. And we need to end them.” Read more
GDP Growth Slows to Crawl, But Austerity Cuts Still All the Rage
April 28, 2011
(ChattahBox Business News)— The U.S. Department of Commerce released its first quarter report on our nation’s Gross Domestic Product growth, and it doesn’t look good. Our economy only managed a meager 1.8 percent increase in GDP growth. This is a significant decline, compared to the encouraging 3.1 percent GDP growth in the fourth quarter of last year. Economists blame the decrease on draconian budget cuts, higher prices for food and gas, combined with higher imports and slowed construction. Many of these factors are expected to improve, but Republican Congressional lawmakers, on a deficit reduction binge, plan to continue starving our sluggish economy. Read more
Corporate Greed at its Worst: Transocean Celebrates ‘Exemplary’ Safety Record Despite BP Oil Spill, 11 Deaths
April 4, 2011
(ChattahBox Business News)—They have no shame. And why should they? There is very little accountability for corporate criminal acts against humanity. Profit and greed trumps all. Remember the BP oil disaster? It was one of the worst oil spills in history and 11 oil rig workers lost their lives. But Transocean Ltd., the Swiss-based company responsible for the operation of the Deepwater Horizon oil rig that exploded in the Gulf of Mexico, sees things differently than the rest of humanity. The oil drilling company just celebrated “the best year in safety performance in our company’s history,” and handed out bonuses to its top executives. There are no words. Read more
Jobs Report: Jobless Rate Falls to 8.8 Percent, But Public Sector Jobs Decline
April 1, 2011
(ChattahBox Business News)— The jobs report for March was released today, and all signs point to a continued but slow recovery. New private sector jobs are finally being created. And the unemployment rate dipped one percentage point to 8.8 percent; the lowest level in two-years. But while private sector hiring is picking up, the public sector is shedding jobs at an alarming rate, as cash-strapped states balance their budgets on the backs of workers, while handing out tax breaks to corporations and the wealthiest one percent of Americans. Read more
Tough Talking Boehner on Dems: ‘We’re Gonna Kick Their Ass’
March 30, 2011
(ChattahBox Political News)—The behind the scenes budget negotiations in the House, to avert a potential government shutdown on April 8, are getting intense. The Plum Line’s Greg Sargent reports that Speaker of the House John Boehner (R-OH) ginned up the troops today vowing to kick some Democratic ass, by getting their way with steep budget cuts in education, healthcare, infrastructure and programs that help the poor and middle class. But with extremist tea party lawmakers forcing Republicans off a cliff demanding even more draconian cuts to domestic discretionary spending, Boehner may lose it all if the teapartiers prevail and bring on a government shutdown. Read more
Wall Street Celebrates Big Bonus Payday, But Where Are the Jobs?
March 18, 2011
(ChattahBox Business News)—Rich Wall Street fat cats have lots to celebrate these days. Money is appearing out of thin air, and the living is easy. Corporations are sitting on record levels of cash, while they bask in the afterglow of the highest profit margins in 18-years. And today, the Wall Street Journal reports that CEO bonuses have surged 30 percent to a three-year high. Woohoo! That means that any day now these altruistic job creators will start hiring American workers and trickle down some of that fabulous green money to the great unwashed, right? No siree! Not in the least. The unemployment rate still hovers near 9 percent, while the super rich pocket their tax savings, and the poor and the middle class are beaten down some more. Welcome to America’s 21st century plutocracy. Can’t you just smell that tea party freedom in the air? Read more
Where Are the Jobs? Corporate Profits Soar to 18-Year High
March 17, 2011
(ChattahBox Business News)–Great news for the investor class! Not only are corporations sitting on record levels of cash, for the first time since 1993, profit margins are soaring. Woohoo! Break out the Cristal. But regular middle-class folk won’t be celebrating. The poor will continue to get poorer, while the rich get richer. While WallStreeters will cash-in with obscene bonuses and investors will receive dividend checks in the mail, the rest of us will continue to slog through a sluggish economy and high rates of unemployment. You would think that now that corporations are flush with cash again, they would start hiring American workers soon, right? Uh, no, think again. The only new hiring is taking place overseas, where the wages are lower. And where do you think the corporations are holding their cash? Overseas in tax-free havens, that’s where. Read more
Senator Herb Kohl vows new probe into Google antitrust issues
March 11, 2011
[ChattahBox US News] – Having seen Google’s power first-hand after they dropped ChattahBox from Google News without explanation we rather like the sound of this story;
The man regarded as the Senate’s top legislator on antitrust issues – Democratic Senator Herb Kohl of Wisconsin – is vowing to make media consolidation, net neutrality and Google’s increasing dominance his primary concerns in the 112th Congress. Read more