Economy UP

“Another sign that we are in the recovery: 18 consecutive months of record-setting food stamp participation

http://www.boston.com/news/nation/washington/articles/2010/08/05/food_stamp_use_hit_record_408m_in_may/”

“washingtonpost.com

GM donates $41,000 to lawmakers' pet projects

By T.W. Farnam
Thursday, August 5, 2010; A15

When General Motors went through bankruptcy last year, it suspended its political donations. Now that it's owned by the U.S. government, it's donating to lawmakers' pet projects again.

The carmaker gave $41,000 to groups associated with lawmakers, the vast majority of it -- $36,000 -- to the Congressional Black Caucus Foundation, the company reported on a disclosure form last week. The CBC Foundation is a charity with 11 members of the Congressional Black Caucus on its board.

(Interactive Element: 2nd quarter fundraising totals)

"We've always given to the Congressional Black Caucus Foundation as far back as anyone can remember," said Greg Martin, GM spokesman. "Our commitment remains unabated, and we continue to be a proud supporter of their work to advance economic development in communities throughout the U.S."

According to its disclosure forms, the company did not give any money to honor lawmakers in 2009, the year of its bankruptcy filing. The U.S. government now has a 60 percent stake in the reformed company.

"By anyone's definition that was an extraordinary time for the company," Martin said. "We did suspend giving for that particular time."

(PostPolitics: BP's changing lobbying disclosure figures)

GM's return to the business of donations remained small compared with the giving of some corporations. Overall, corporations and other entities that were registered to lobby Congress gave $10.7 million to honor politicians and military figures in the first six months of the year. That is down slightly from the $10.8 million spent in the last half of 2009. Donations were down 27 percent from the same period two years ago, but there were still 37 entities that gave at least six figures in the latest six-month period.

Defense contractors disclosed some of the biggest gifts. One of the top honorees was Rep. Ike Skelton (D-Mo.), chairman of the House Armed Services Committee, who was a guest at an April gala for the Tragedy Assistance Program for Survivors, a nonprofit group that provides counseling to friends and family who have lost loved ones in the military. BAE Systems donated $150,000 to the event, and defense contractor Science Applications International Corporation donated $100,000, according to disclosure forms. General Motors also gave $5,000 to honor Skelton.

(Photos: GM shows off inovation at Detroit auto show)

General Motors has not reactivated its political action committee, which can give to election campaigns, according to the latest reports with the Federal Election Commission. The PAC contributions come from senior employees who give to support the company's political goals.

The CBC Foundation and affiliated entities took a big hit, raising $686,000 from January through June, compared with $1.4 million in the last half of 2009. Anheuser-Busch gave the largest contribution to the foundation this year, $150,000 in March.

The Congressional Hispanic Caucus Institute raised about $1 million from companies in the six-month period, including $385,000 in two contributions from Wal-Mart.

Sen. Daniel K. Inouye (D-Hawaii), the Senate Appropriations Committee chairman, was honored at a gala for the Pacific Aviation Museum Pearl Harbor with a $250,000 donation from FedEx and $100,000 from Northrop Grumman. Science Applications International Corp. is also listed as a "presenting sponsor" on the museum's Web site but reported no contributions to the event. A spokeswoman did not return a request for comment.

Lockheed Martin donated $85,000 to the Dallas Military Ball, where Gen. George W. Casey Jr., the Army chief of staff, was a keynote speaker.

The drug industry was another big spender. The Pharmaceutical Research and Manufacturers of America gave $95,000, including $60,000 to the ALS Foundation to honor Sen. Robert P. Casey Jr. (D-Pa.). Pfizer spent $103,000, including a $25,000 contribution to honor Sen. Blanche Lincoln (D-Ark.) at the National Osteoporosis Foundation awards dinner.”

“More great "ethics" from the demorats?”

“See why the lobbyist should have to run for office and just forget the Senators and congressman, why should we pay both (we do pay both with purchase of goods and services as well as the taxes).

Or, an alternatives is to let the Corporations just pay both lobbyist and Congress (along with retirements and all). Now that's getting to the point that they own it now ,but only pay the lobbyist cause they certainly don't pay enough taxes with the code as it is.”

“Well shortly there will be a big growth in the "Public Funded" rent in the Harrisburg region of Augusta....I know that just turns TILTY on.”

“Ah yes...the Broken Window Fallacy is completely destroyed by logic....and reality

http://sayanythingblog.com/entry/video-debunking-big-government-solutions-for-the-economy/”

“WELLLL this will be a nail in the coffin of the Economy....

http://www.nypost.com/p/news/opinion/opedcolumnists/the_end_of_responsibility_wMUZX8RDtJliTA2kRAB1PP

“From Washington to Wall Street,” Reuters columnist James Pethokoukis wrote on Thursday, “there are rumors that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth.”


That’s right. If you bet badly in the housing-market casino of the Aughties, the government is thinking of refunding some of your chips so you can play again. You may have heard something about a sub-prime real-estate bubble that popped and nearly took down the financial system with it? President Obama wants to double down.

Unlike most rumors, this one became more, not less, plausible when you examine the details. The White House has made it clear in recent months that it is frustrated by what the Framers called “the legislative branch,” what President Obama calls “politics” and what I call “the wishes of the American people.”



Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/the_end_of_responsibility_wMUZX8RDtJliTA2kRAB1PP#ixzz0w8TPqlnr”

“They already did this for the banks, now when they do for the people it's evil, makes sense coming from that right slide.”

“Let them go to repo. That'll get the RE prices down to 1980 prices, where wages still are, we'll start again, this time we'll do things the other(correct way) rather than the right(wrong way). The lenders were the problem, Fees, Fees and Commissions, they had no intention of ever being paid back, just bundle them up and sell them for more Fees ,Fees and Commissions.”