It has been a Junius Horribilis for President Obama. | Job growth has stalled, the Democrats have been humiliated in Wisconsin, the attorney general is facing a contempt-of-Congress citation, talks with Pakistan have broken down, Bill Clinton is contradicting Obama, Mitt Romney is outraising him, Democrats and Republicans alike are complaining about a “cascade” of national-security leaks from his administration, and he is now on record as saying that the “private sector is doing fine.” | Could it get any
North Dakota Voters Consider Ending Property Tax
Keith Colville, who supports the abolition of property taxes in North Dakota, listened to a debate on the issue last month at a school auditorium in Edgeley. | BISMARCK, N.D. – Since Californians shrank their property taxes more than three decades ago by passing Proposition 13, people around the nation have echoed their dismay over such levies, putting forth plans to even them, simplify them, cap them, slash them.
Spinners and Winners | As a conservative Republican, Lindsey Graham has never had a problem promising not to raise taxes. Like almost every other Republican member of Congress, during his last re-election campaign, he signed the anti-tax pledge put forth by Grover Norquist’s group Americans for Tax Reform. | But now Graham says the debt crisis is so severe that the tax pledge – which says no tax loopholes can be eliminated unless every dollar raised by closing loopholes goes to tax cuts — has got to go.
NEW YORK – The controversial elementary school principal that nixed a patriotic anthem in favor of a Justin Bieber song at kindergarten graduation ceremony has decided to not allow the pop star’s ballad either, The New York Post reports. | New York City Mayor Bloomberg along with Schools Chancellor Dennis Walcott announced at a Monday press conference that PS 90 in Brooklyn will no longer sing Justin Bieber’s “Baby” at the school’s June 20 kindergarten graduation ceremony.
Is Hamas Building a 53,000 Square Foot Facility in America?
The compilation of materials used in this article are the result of a collaboration between Steve Emerson, of the Investigative Project on Terrorism, Elizabeth Coker, a retired journalist and stay-at-home-mom, Jerry Gordon, former Army Intelligence officer and Editor for New English Review, and Eric Allen Bell, Filmmaker and writer. This article was written by Eric Allen Bell who was at one time a staunch pro-mosque supporter, who had a complete change in perspective after the Arab Spring. Bell was banned as a writer from the Daily Kos after he published 3 stories critical of Islam, which ran afoul of the mindset there. For more on that, read “The High Price of Telling the Truth About Islam.”
The recent recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with middle-class families bearing the brunt of the decline.
The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.
The data represent one of the most detailed looks at how the economic downturn altered the landscape of family finance. Over a span of three years, Americans watched progress that took almost a generation to accumulate evaporate. The promise of retirement built on the inevitable rise of the stock market proved illusory for most. Homeownership, once heralded as a pathway to wealth, became an albatross.
The findings underscore the depth of the wounds of the financial crisis and how far many families remain from healing. If the recession set Americans back 20 years, economists say, the road forward is sure to be a long one. And so far, the country has seen only a halting recovery.
“It’s hard to overstate how serious the collapse in the economy was,” said Mark Zandi, chief economist for Moody’s Analytics. “We were in free fall.”
The recession caused the greatest upheaval among the middle class. Only roughly half of middle-class Americans remained on the same economic rung during the downturn, the Fed found. Their median net worth — the value of assets such as homes, automobiles and stocks minus any debt — suffered the biggest drops. By contrast, the wealthiest families’ median net worth rose slightly.
Americans have tried to rebalance the family budget but have found it difficult to reverse the damage.
Read more at washingtonpost.com
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