Priority spending during the Obama recession

[IM2]

The first option: I care about the accuracy of my posts. That is why I am never successfully challenged in these parts.

You don't care about the accuracy of your posts because they are innacurate. Secondly your claim of having never been successfully challenged is untrue because you run from all challenges presented to you, and will make any excuse for your cowardice.

[Mornac]

Most people define "recession" as 2 consecutive quarters of GDP decline.

--"Most people" also voted for barack Obama. Obviously "most people" are often the least competent in understanding these matters.

According to this chart, and my understanding of our current condition, we're experiencing economic growth.

http://www.tradingeconomics.com/Temp/United-States-GDP-Growth-Rate-Chart-000002.png ?0f3b0fc4-ae9c-4e63-ab51-76fd052f81a8

--According to this reportand my understanding of our current condition, we're not.

I would say that most people would agree that the economy isn't doing as well as we would like it to be doing

--I would say that all people would agree that the economy isn't doing as well as we would like it to be doing

but that doesn't mean we're in a recession.

--We're in a recession.

[Velleity]

Reread your link. It says something other than what you're saying it says.

Pay close attention to the words "slowdown in the recovery."

 

[Mornac]

Reread your link.

--Done. Looks just like it did the first time I read it.

It says something other than what you're saying it says.

--I didn’t say that it said anything.

Pay close attention to the words "slowdown in the recovery."

--Yeah, and….?

[Velleity]

Obviously the subject matter is beyond your comprehension. Do you even know what a recovery is?

[Mornac]

Obviously the subject matter is beyond your comprehension.

--Obviously not.

Do you even know what a recovery is?

--Yes.

[Velleity]

--Obviously not.

It's not all that impressive that you don't know that a recession is two quarters of negative growth in GDP. That's a standard definition and it's not the least bit controversial. Nor am I overly impressed by the fact that you've cited article about a decline in the growth of GDP, not negative growth in GDP, as if that article actually supports your proposition. The article talks about the recovery slowing down. The article actually contradicts you, yet you're oblivious.

--Yes.

Obviously not, and obviously you're less than truthful, and not able to admit a glaring error.

[Mornac]

It's not all that impressive that you don't know that a recession is two quarters of negative growth in GDP.

--It’s not that I “don’t know” that, rather I don’t agree with the definition.

That's a standard definition and it's not the least bit controversial.

--Try thinking independently once in awhile instead of accepting “standard definition(s)”. You may just be able to shake your liberal shackles.

Nor am I overly impressed by the fact that you've cited article about a decline in the growth of GDP, not negative growth in GDP,

--I haven’t cited an article, I’ve referred to one. If you believe I cited something, please cut and paste the citation here.

as if that article actually supports your proposition.

--I haven’t proposed anything. If you believe I’ve proposed something, please cut and paste the proposition here.

The article talks about the recovery slowing down. The article actually contradicts you, yet you're oblivious.

--It contradicts nothing. I said that “(a)ccording to this report and my understanding of our current condition, we're not (experiencing economic growth).” I stand by my statement.

Obviously not, and obviously you're less than truthful, and not able to admit a glaring error.

--I’ve made no error. If you believe I have, please cut and paste the error here.

[Mornac]

August 11, 2010

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill

Some House Democrats and advocacy groups are getting squeamish about the move to fund the $26 billion jobs bill by making cuts to food stamps, a federal assistance program currently depended on by nearly 41 million Americans.

Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

House members convened Tuesday and passed the multibillion-dollar bailout bill for cash-strapped states that provides $10 billion to school districts to rehire laid-off teachers or ensure that more teachers won't be let go before the new school year begins, keeping more than 160,000 teachers on the job, the Obama administration says.

But the bill also requires that $12 billion be stripped from the Supplemental Nutrition Assistance Program, commonly known as food stamps, to help fund the new bill, prompting some Democrats to cringe at the notion of cutting back on one necessity to pay for another. The federal assistance program currently helps 41 million Americans.

Arguably one of the most outspoken opponents on the Democratic side is Connecticut Rep. Rosa DeLauro, who has blasted the move as “a bitter pill to swallow” but still voted yes.

“I fought very hard for the food assistance money in the Recovery Act, and the fact is that participation in the food stamps program has jumped dramatically with the economic crisis, from 31.1 million persons to 38.2 million just in one year,” DeLauro said in an e-mail sent to FoxNews.com. “But I know that states across the nation and my own state of Connecticut also desperately need these resources to save jobs and avoid Draconian cuts to essential services for low income families.”

The Houston Chronicle reported Tuesday that several state advocacy groups, including the Texas Food Book Network and the Houston Food Bank, rallied for House members to strike down the legislation, which passed 247-161 in the House. Three Democrats voted against the measure, while two Republicans voted in support of it.

Democratic rank and file members, including Sen. Majority Leader Harry Reid, say the cuts won’t take effect until 2014 and will merely return food stamp benefits to pre-stimulus levels.

The Food Research and Action Center said a family of four would see benefits drop about $59 per month starting in 2014.

"While we support the education initiatives (in the bill), we adamantly oppose using food stamps to pay for them," said James Weill, president of the Food Research and Action Center. "The rain on food stamps to pay for other things absolutely has to stop and stop now."

According to U.S. Department of Agriculture figures, the number of people on the food stamp rolls has been growing to record levels for 18 straight months. Nearly $5.5 billion in aid went out to beneficiaries in May alone. The number of May recipients marked a 19 percent increase from a year ago and the USDA projects that next year's enrollment will reach about 43.4 million.

Republicans, meanwhile, vocally opposed the state aid bill. Rep. Paul Ryan, R-Wis., told Fox News it rewarded "irresponsible states" and their unions. 

"It is basically taxpayers from fiscally (responsible) states bailing out fiscally irresponsible states. ... Medicaid funding, teacher funding, the more popular of the public unions, what this is, it's a bailout to prevent states from doing the necessary spending prioritization that they need do," he said.

The Obama administration pushed hard for the $26 billion bill. The White House argued that it is essential to protecting 300,000 teachers and other nonfederal government workers from election-year layoffs and will not add to the national deficit.

"If we do nothing, these educators won't be returning to the classroom this fall, and that won't just deprive them of a paycheck, it will deprive the children and parents who are counting on them to provide a decent education," Obama said in the White House Rose Garden shortly before the bill passed on Tuesday.

"This proposal is fully paid for, in part by closing tax loopholes that encourage corporations that ships American jobs overseas. So it will not add to our deficit," he said. "And the money will only go toward saving the jobs of teachers and other essential professionals...I urge members of both parties to come together and get this done, so that I can sign this bill into law."

http://www.foxnews.com/politics/2010/08/10/democrats-advocacy-groups-blast-cuts-food-stamps-fund-m-jobs/

[Velleity]

--It’s not that I “don’t know” that, rather I don’t agree with the definition.

I don't agree that you don't agree with the definition. Clearly you muffed this one and like Observer you can't admit it.

[Mornac]

I don't agree that you don't agree with the definition.

--That's your right.

Clearly you muffed this one and like Observer you can't admit it.

--I haven't "muffed" anything. I posted some informative articles. You can either be informed or ignore them.

[Mornac]

Woodzicka Receives NSF Grant to Study Effects of Humor

Julie Woodzicka, associate professor of psychology at Washington and Lee University, has received a grant from the National Science Foundation to study humor and the effects of humor.
The award of over $300,000 is to be shared between Woodzicka and her collaborator, Thomas Ford of Western Carolina University, one of the nation's top humor researchers.

"Humor is omnipresent in our daily lives and in everyday conversation," said Woodzicka, "but it hasn't been studied very extensively. We don't understand it or completely know what the consequences of our humorous interactions are."

The study will use between 500 and 600 participants over three years, half at W&L and half at Western Carolina University. "We'll ask them to watch videos, listen to jokes and complete questionnaires," said Woodzicka. "We'll be studying what people find funny and what the consequences of humor are."

The grant will also allow Woodzicka to employ two W&L students as research assistants for the next three summers, and will support their travel to conferences.


http://www.wlu.edu/x49922.xml#

[Velleity]

Oh good.

More whining about university research. 

Try researching all of the things that we have learned from grants to universities. It's pretty obvious that you lack a rudimentary understanding of academic environments, and the importance of having academia.

[Mornac]

Try researching the Constitution to find where it mandates the federal government to give so much as a penny to a university. When you find it – post it here.

[Mornac]

New GM CEO's pay package worth $9 million

By TOM KRISHER, AP Auto Writer Tom Krisher, Ap Auto Writer – Fri Sep 10

DETROIT – New General Motors Co. CEO Daniel Akerson will get the same $9 million pay package as the man he replaced, Ed Whitacre.

Akerson, a former telecommunications industry and private equity executive, will receive $1.7 million in annual salary, $5.3 million in short-term stock payable over the next three years, and another $2 million in stock that's part of the company's long-term executive compensation plan.

The automaker, which is 60.8 percent owned by the U.S. government, disclosed the pay package in a filing on Friday with the Securities and Exchange Commission. It is identical to what the company disclosed for Whitacre in February.

Akerson also is on GM's board of directors, but will receive no compensation for his duties there, the filing said.

Akerson, GM's fourth CEO in less than two years, took over leadership of the company on Sept. 1.

Whitacre, CEO since December, said he stepped down because the company needed a chief executive who would be in charge long after it sells stock to the public. The sale, called an initial public offering, is expected in mid-November.

Whitacre, 68, a retired CEO of telecommunications giant AT&T Inc., said he didn't want to stay too long after the stock sale.

It was unclear how much of the $9 million pay package that Whitacre will receive for his roughly eight months as CEO. GM also disclosed that he will get $300,000 to remain on as chairman until the end of the year when Akerson takes over that role as well.

Like Whitacre, Akerson has worked as a top executive at major telecommunications companies, holding leadership posts at both MCI and Nextel. A graduate of the U.S. Naval Academy, Akerson was appointed to GM's board by the government in July of last year after GM emerged from bankruptcy protection. He also led global buyouts for The Carlyle Group, a private equity firm.

GM's SEC filing said that Akerson agreed to the pay package after the government's pay czar approved it Wednesday. Pay czar Kenneth Feinberg stepped down on Friday and was replaced by Treasury Department lawyer Patricia Geoghegan. The pay czar is responsible for setting pay guidelines for top executives at the four companies still getting exceptional assistance from the government's $700 billion bailout fund.

In addition to GM, those companies are American International Group, Chrysler Group LLC and Ally Financial Inc., the financing arm for GM and Chrysler.

The U.S. government got its stake in GM after giving the Detroit auto giant a $50 billion bailout to live through bankruptcy protection last year. GM has repaid $6.7 billion, and the government hopes to get the rest of its money back through the common-stock sale.

GM itself also plans to sell preferred shares to raise capital and pay off debt.

http://news.yahoo.com/s/ap/20100910/ap_on_bi_ge/us_gm_ceo_pay_4