U.S. President, George W. Bush, “Declares Peace” after Oval Office seance with John Lennon, conducted by former First Lady, Nancy Reagan! A Merry Christmas to all!!! :)

U.S. soldiers may be home for the holidays this year, as ‘Someone’ reported today that U.S. President, George W. Bush, has “declared peace.” -In what has been described as a “seance” that purportedly involved the former first lady, Nancy Reagan channeling the late John Lennon as he spoke to Richard Nixon from his honeymoon bed in 1969, saying, “[President Nixon] should just ‘declare peace’…he’d be far more popular…and it’d be much more economical…just declare peace!”

As a result of the President’s declaration of peace, his approval rating is expected to hit it’s highest levels in years, the U.S. government is expected to save billions of dollars, and Thousands of American families are expected to have regained the privilege of enjoying the rest of their Childrens’ lives!

(“Mission Accomplished!”)

For purported footage of the event, hit play below:

“…AN EYE FOR AN EYE MAKES THE WHOLE WORLD BLIND…” –MOHANDAS KARAMCHAND GANDHI

“…if teachers teach you to do to others that which is bad for yourselves, -teach violence, execution, wars- know that they are false teachers.” -Jesus Christ (Lk. vi. 45)

“In the former law it was said: “Do good to men of your own nation, and do evil to strangers.” But I tell you, love not only your own countrymen, but people of other nations. Let strangers hate you, let them fall upon you, wrong you; but you speak well of them, and do them good. If you are only attached to your countrymen, why, all men are thus attached to their own countrymen, and hence wars arise. Behave equally towards men of all nations, and you will be sons of the Father. All men are his children and therefore all brothers to you.” -Jesus Christ (Mt. v. 43)

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Cam Cardow National Debt Cartoon, again.

A Cam Cardow National Debt Cartoon, and U.S. National Debt Clock, here…

Private Equity buyout tax loopholes make the rich richer but might hurt average Americans.

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*Based on Henry Kravis’s 2006 income of $450 million as reported in Forbes magazine. Calculated at a tax savings of 21.45% (35% income tax + 1.45% Medicare Tax 15% carried interest paid), Henry Kravis saved approximately $96 million in taxes in the year 2006.

2007 U.S. Financial Report and Government Accountability Office memo warn of tough times coming for American tax payers.

Found this at Steve Skojec’s excellent blog, here (post called: “economic stimulus package: made in China.”):

According to the 2007 U.S. Financial Report, here’s Government Accountability Office’s included memo that tries to give the lowdown on the unaccounted for future liabilities:

“Fiscal year 2007 marked the second year in which the Statement of Social Insurance has been presented as a basic financial statement. As noted above, this year, we were able to render an unqualified opinion on the 2007 Statement of Social Insurance. This is a significant accomplishment for the federal government. This statement shows that projected scheduled benefits exceed earmarked revenues by approximately $41 trillion in present value terms for the next 75-year period.

Considering this projected gap in social insurance, in addition to reported liabilities (e.g., debt held by the public and federal employee and veterans benefits payable) and other implicit commitments and contingencies that the federal government has pledged to support, the federal government’s fiscal exposures totaled approximately $53 trillion as of September 30, 2007, up more than $2 trillion from September 30, 2006, and an increase of more than $32 trillion from about $20 trillion as of September 30, 2000.

This translates into a current burden of about $175,000 per American or approximately $455,000 per American household. (page 33)”

And then this:

“Unsustainable Debt…”

“As noted earlier, the Government must borrow from the public to finance any gaps between expenditures and revenues. Increased borrowing leads to higher debt service (net interest) which in turn can make it more difficult to balance expenditures and revenues in the future. Chart J shows that by 2030, public debt is projected to rise to 68 percent of GDP, surpassing the non-wartime peak of 49 percent in 1993. By 2040, public debt is projected to be 128 percent of GDP, well above the World War II peak of 109 percent, and by 2080, debt is projected to approach 600 percent of GDP.

At some point before the debt reaches such unprecedented levels, the world’s financial markets would likely cease lending to the United States. Although the precise point at which this would occur is unknown, these projected debt levels cannot be sustained indefinitely. Many economists believe that persistent debt/GDP levels over 100% are unhealthy. The U.S. is projected to surpass that mark within the next 30 years, with the debt/GDP ratio at that point on a continually and dramatically rising trajectory (more than 10 percentage points per decade through 2080). Avoiding the catastrophic consequences of this fiscal path will require action to bring program expenditures in line with available resources. How soon those actions are taken will greatly influence their ultimate impact on the Nation. (page 19)”

The blogger who originally posted these snippets from the 2007 U.S. Financial Report, Steve skojec, adds:

“Did you notice anything off about these two paragraphs? Maybe the idea that we’re fast approaching a debt that’s 600 TIMES THE GROSS DOMESTIC PRODUCT OF THE WEALTHIEST NATION ON EARTH? How about the fact that the financial report itself characterizes the consequences of this trend as “CATASTROPHIC”?”

==interesting and scary….If this information scares you or is something you have not heard before, you should really check out Ron Paul and some of his speeches on yourtube and else where as he is one of the few politicians who has been trying to warn against the dangerous fiscal policies of our central bank, the federal reserve, as well as the spending habits of the US Federal Government.

Tax Rebate checks to American taxpayers will be mailed starting May 2.

Tax rebate checks will be distributed to most tax-paying Americans. The rebates serve as a one-time tax cut initially based on their 2007 incomes.

Overall, the Treasury will distribute more than $110 billion to 130 million taxpayers by July.

Who will be getting checks?

One-time payments will be sent to at least 117 million low- and middle-income households, 20 million senior citizens living off of Social Security and 250,000 disabled veterans.

To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000.

Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200.

In addition, parents will also receive $300 per child under 17; there is no cap on the number of qualifying children eligible.

Tax filers who do not owe income taxes, but have at least $3,000 in income – which can include Social Security and disability payments – will get $300 rebates per person or $600 per couple.

The stimulus allows for a 5% phaseout rate for households above the income caps of $75,000 for single filers and $150,000 for joint filers. The rebates of those taxpayers will be reduced by the amount of income above the cap multiplied by 5%.

Will I have to pay it pack?

No. And here’s why.

Your stimulus payment is a one-time tax cut – an advance on a credit you’ll receive on your 2008 return. You will not owe tax on your payment when you file your 2008 tax return, and it will not increase the amount you owe or reduce your 2008 refund.

The stimulus payment is based on your 2007 income initially. If it turns out that your 2008 income and number of children would have qualified you for a larger rebate than the one you received, you’ll be sent the difference. If it turns out your 2008 income was lower than in 2007 and you should have gotten a lower rebate, you get to keep the difference.

“If you were supposed to receive a larger payment than you did, you will get the extra money,” said Treasury spokesman Andrew DeSouza. “If you received more than what you should have gotten, you will not be penalized.”

Direct deposit payment
If last 2 digits of your SS# are: Your rebate should be sent by:
00-20 May 2
21-75 May 9
76-99 May 16
Paper check
If last 2 digits of your SS# are: Your rebate should be sent by:
00-09 May 16
10-18 May 23
19-25 May 30
26-38 June 6
39-51 June 13
52-63 June 20
64-75 June 27
76-87 July 4
88-99 July 11

Poll says predictions for short-term progress grimmest in nearly 50 years

WASHINGTON – Growing numbers of middle-class Americans say they are not better off than they were five years ago, reflecting economic pressures amid growing debt, a study released Wednesday shows. Their short-term assessments of personal progress, according to the study, is the worst it has been in almost half a century.

The survey by the Pew Research Center, a Washington-based research organization, paints a mixed picture for the 53 percent of adults in the country who define themselves as “middle class,” with household incomes ranging from below $40,000 to more than $100,000.

It found that a majority of Americans said they have not progressed in the past five years. One in four, or 25 percent, said their economic situation had not improved, while 31 percent said they had fallen backward. Those numbers together are the highest since the survey question was first asked in 1964. Among the middle class, 54 percent said they had made no progress (26 percent) or fallen back (28 percent).

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Middle-class prosperity also lagged compared with richer Americans. From 1983 to 2004, the median net worth of upper-income families — defined as households with annual incomes above 150 percent of the median — grew by 123 percent, while the median net worth of middle-income families rose by just 29 percent.

US New Jobless claims rise to over 400,000, highest level in 2 years, click picture to read more.

The Labor Department reported Thursday that new applications filed for unemployment insurance jumped by a seasonally adjusted 38,000 to 407,000 for the week ending March 29. The increase left claims at their highest point since Sept. 17, 2005, following the blows of the devastating Gulf Coast hurricanes.

“This report supports the view that the jobs market is deteriorating toward recessionary conditions,” said T.J. Marta, a fixed-income strategist at RBC Capital Markets.

The latest snapshot of labor activity was worse than economists had anticipated. They had predicted claims would be much lower, around 365,000….Meanwhile, the number of people continuing to collect unemployment benefits rose by a sharp 97,000 to 2.94 million for the week ending March 22, the most recent period for which that information is available. That was the highest since July 17, 2004.

US Workers lose their jobs in highest numbers in years