Fuel, food prices rise, Bush to veto big oil tax, Democrat's mortgage relief Bill blocked as Bush declares no Recession and talks about drug abuse WTF?
With just another day of stories proving the world is rapidly heading towards a total breakdown after yesterday's conversation depicting Bush's and Israel's threat to get the middle east breakdown going full swing I wanted to concentrate on today's news that At least 35 Palestinians and two Israeli soldiers have been killed in one of the deadliest days of fighting in Gaza since troops withdrew in 2005. With threats of a full scale Israeli attack
* It is mindboggling the issues facing us around the world and it is overwhelmingly caused by Bush. However with the increasing awareness that the backbone of America, the middle class and our economy is in deep trouble I have to focus on that because of bush's idiocy. He can't be this stupid and he has to purposely be letting the country and the world hit the precipice of disaster while he screws around and acts like everything is Hunky Dory until the shit hits the fan and he takes control of us and his wars!
Not just the world because of Bush but our economy is in deep trouble and it is finally coming to light but bush engineered this too and it is just beginning and like everything he has finagled it will get a hall of a lot worse. As anyone who's been to the gas station or supermarket lately knows, the prices of fuel and food are on the rise. And you haven't seen anything yet, some experts say. I will guaranndamtee you, you haven't seen anything yet! Gasoline now costs an average of $3.15 a gallon, seven cents shy of the record set last May, according to AAA. Remember another one of Bush's Duhh moments? Gas could hit $4.00 soon I didn't know that. $5 is more like it!
But with crude oil prices setting a new trading high of $102.08 a barrel on Wednesday, it's only a matter of time before drivers see it hit another record at the pump. Friday I know it was at $103 per Barrel and this too will get a lot worse. Within a few weeks, gas could cost $3.50 a gallon and, by spring, the price could hit $4 in some locations, said Peter Beutel, an oil analyst at the consultancy Cameron Hanover. The high cost of gas is helping fuel a surge in food prices. Higher transportation expenses, along with growing demand for agricultural exports from the United States and increasing need for corn-based ethanol for gas supplies, has sent commodity costs soaring.
Last week, the federal government reported that the Consumer Price Index rose a greater-than-expected 0.4% in January and 4.3% over the past 12 months, mainly because of higher food and energy costs. Food and beverages jumped 4.8% for the year and transportation soared 9.4%. A bushel of yellow corn, for instance, cost an average of $5.12 in January, up 41% from a year earlier, according to U.S. Department of Agriculture statistics. Not only does this contribute to the higher prices of food made from corn, but it increases farmers' cost of feeding cattle and pigs. Though prices have been climbing for the last few years, consumers didn't feel it as much in the past because their home values were soaring. "But now, with housing prices having gone down, credit becoming tighter and prices of necessities like food and energy going up sharply, it's created quite a squeeze on consumers' disposable income," said Maria Fiorini Ramirez, head of economic consulting firm MFR Inc. It is a pain in the pocketbook
* Not only that but as you know The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.They are right but Republicans and oil company's will screw us for it! Senate Democratic leaders said they would put the bill on a fast track and try to avoid a Republican filibuster. The White House said the bill unfairly takes aim at the oil industry. President Bush is expected to veto the legislation if it passes Congress. House Majority Leader Steny Hoyer, D-Maryland, noted it was two years ago, when oil cost $55 a barrel, when Bush said oil companies needed no government subsidies to pursue more oil or gas. "With the price of oil hovering around $100, do we really believe this incentive is justified?" asked Hoyer. "Do these companies need taxpayer subsidies to look for new product? They don't need any incentive."
Remember, when Bush got in office it was $28 per barrel. Since the price per barrel has increased $75 per barrel and the oil company's are enjoying world record profits! can you believe Republicans said the measure unfairly targeted a single industry. "It punishes the oil and gas industry. This is wrongheaded. It will result in higher prices at the gasoline pump. It's spiteful and wrong," said Rep. Jim McCrery, R-Louisiana. It will bring higher prices at the pump and they will make sure it does as they screw us for impinging on their illicit gains!
The bill would roll back two lucrative tax breaks for the five largest U.S. oil companies. One helps manufacturers compete against foreign companies; the other gives American companies a tax credit related to oil and gas extraction outside the country. Democrats estimated those current breaks would save the oil companies $17.65 billion in taxes over the next 10 years. During debate, Rep Jim McDermott, D-Washington, urged lawmakers to "stop the madness of subsidizing oil companies" when the industry earned $123 billion last year. Are we supposed to believe only $121 billion per year will be felt by these people? You will see a filibuster or a Presidential veto
* Meanwhile in this rapidly degenerating economy that bush says is fine, On a vote of 48-46, Senate Republicans blocked an attempt by Democrats to bring up a housing bill that GOP members said would mean higher interest rates for all mortgage holders. At the last minute, Senate Majority Leader Harry Reid changed his vote to no, making the real vote, 49-45. This allows the Democratic senator from Nevada to bring the bill back up in the coming weeks for reconsideration.
Democrats say their bill would save millions from foreclosure. It includes a controversial provision that allows bankruptcy judges to restructure mortgages on primary residences for those homeowners with endangered sub-prime loans and nontraditional loans. President Bush and other Administration officials, as well as the Mortgage Bankers Association, called the effort nothing but a bailout for speculators. The president said homeowners should work with their banks to negotiate better terms for loans. Democratic mortgage relief bill Blocked by Republicans
* I am sick of these unscrupulous idiots! We try to reign in their corruption and they threaten to make things worse. I refuse to believe people desperate to own a home jilted by unscrupulous lending agencies giving them loans they knew couldn't be paid back are merely dismissed as "speculators" That is BS, aren't the lending agencies the speculators? Anyway sadly with the stock market finally crashing as the reality of our dire financial situation begins to hit home on our America in Bush's America he says things are great. President Bush dismissed concerns Thursday that the economy is headed into a recession and remained confident that an economic stimulus package will help the nation amid a lingering mortgage and credit crunch. stimulus package my eye!
* "I don't think we're headed to recession, but no question, we're in a slowdown," Bush told reporters at a White House press conference. Some economists say the country is nearing a recession, but Bush expressed his support for the economic stimulus package that Congress recently passed and he signed into law last month. "We've acted robustly," he said. The package will deliver rebates ranging from $300 to $1,200 to millions of Americans and provide tax incentives to businesses.
"I'm concerned about the economy because I'm concerned about working Americans, concerned about people who want to put money on the table and save for their kids' education," Bush said. Congress needs to make the tax cuts permanent to help Americans deal with uncertainty and rising gasoline prices, Bush said. The president also urged Congress to renew a terrorist surveillance law to "protect our country from terrorist attacks" by giving telecommunications companies immunity from lawsuits. Bush's America not headed to recession
* The idiot proved he is not concerned about what he has done to the world and us as the chief idiot on his radio address talked about nothing but stopping Drag abuse. AAARRRGGGHHH!
The following is President Bush's radio address to the nation on March 1, 2008: THE PRESIDENT: Good morning. Today, my administration is releasing our 2008 National Drug Control Strategy. This report lays out the methods we are using to combat drug abuse in America. And it highlights the hopeful progress we're making in the fight against addiction. When I took office in 2001, our country was facing a troubling rate of drug abuse, particularly among young people. Throughout America, young men and women saw their dreams disrupted by the destructive cycle of addiction. So I committed our nation to an ambitious goal: In 2002, we began efforts to cut drug use among young people by 25 percent over five years. Bush's radio address on drugs
** Hell they're probably in jail, committed suicide or on drugs for depression! I refuse to believe that he thinks everything is so great he can just waste his time talking about drug abuse, He can't be this stupid! He has to purposely be ignoring all the hell he has created here and around the world including disasters around the country natural and man made unless his goal is to ignore it until it blows this fall so he can cancell electione and stay in power.
James Joiner
Gardner Ma
www.anaveragepatriot.com
