Thursday, January 27, 2011

REPUBLICANS WANT TO RETURN TO WORKPLACE IMMIGRATION RAIDS - IS IT TOO LATE? ILLEGALS ARE VOTING!

THERE ARE ONLY EIGHT (8) STATES WITH A POPULATION GREATER THAN LOS ANGELES COUNTY WERE 50% OF THOSE WITH A JOB ARE ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS. MANY OF THESE ARE ALSO ON WELFARE! THIS COUNTY, RUN BY MEXICANS, PAYS OUT $600 MILLION PER YEAR IN WELFARE TO ILLEGALS!

THE L.A. COUNTY TAX-FREE UNDERGROUND ECONOMY IS CALCULATED TO BE MORE THAN $2 BILLION PER YEAR!

AND THE REST OF THE STATE IS NEARLY AS MEX OCCUPIED!!!



latimes.com

Republicans want a return to workplace immigration raids

They say they'll use their new majority in the House to press for more aggressive enforcement without any path to legal status.

By Brian Bennett, Washington Bureau

January 27, 2011

Reporting from Washington





Deportations of illegal immigrants have reached new heights for two years running under President Obama, statistics show, but Republicans say they'll use their new majority in the House to press for more aggressive enforcement without any path to legal status.

Republican lawmakers called on the Obama administration to return to the era of workplace raids to arrest illegal employees, an approach that contrasts sharply with the president's continued push to create a path to citizenship for "responsible young people" and deport only those illegal immigrants charged with serious crimes.

Deportations under Obama have reached new heights for two years running, statistics show, but Republicans said they would use their new majority in the House to press for more aggressive enforcement without any path to legal status.

Large-scale workplace arrests of illegal workers were hallmarks of the George W. Bush administration's approach in its final years. But two years ago Obama decided to shift enforcement efforts to focus on employers who knowingly hire illegal workers.

Arrests from worksite raids for immigration-related offenses, such as using a forged driver's license or a fake Social Security number, have dropped by 70% since the end of the Bush administration, when a series of large raids of factories and meatpacking plants received national media attention.

Because Democrats hold a Senate majority and Obama has veto power, the GOP cannot force a change in the enforcement policy.

But with illegal immigration likely to be a hot-button issue in the 2012 campaign season, House Republicans on the House Judiciary subcommittee on Immigration Policy and Enforcement plan to hold hearings to criticize an administration they claim allows illegal immigrants to take American jobs.

With unemployment over 9%, "it is hard to imagine a worse time to cut worksite enforcement efforts by more than half," Rep. Lamar Smith (R-Texas), chairman of the House Judiciary Committee, said Wednesday. "Citizens and legal immigrants should not be forced to compete with illegal workers for jobs."

The Republican move came a day after Obama, in his State of the Union address, called on Congress to "once and for all" address illegal of immigration — both border security and a path to legalization.

He said he was willing to work with Republicans and Democrats to "address the millions of undocumented workers who are now living in the shadows. I know that debate will be difficult. I know it will take time. But tonight, let's agree to make that effort."

Though workplace raids are high-profile and often receive media attention, they also are criticized as an expensive and unnecessarily traumatic approach to attacking the problem.

Some of the large-scale raids launched in 2007 and 2008 cost taxpayers upward of $10 million, said one former law enforcement official who spoke on the condition of anonymity because of the sensitivity of the debate.

"I was appalled at the raids," Rep. Sheila Jackson Lee (D-Texas) said Wednesday, referring to surprise raids that often involve large numbers of agents and local law enforcement. "In my district people were falling off ladders, pregnant women were falling. It was not effective."

Broad sweeps fill limited jail and court docket space the Obama administration wants to reserve for more hardened criminals, officials said. Each deportation costs the federal government about $12,500, Immigration and Customs Enforcement Deputy Director Kumar Kibble told lawmakers Wednesday.

Instead, targeting employers is part of an effort by the administration to thwart illegal immigration by reducing the demand for illegal jobs, which draws hundreds of thousands across the border each year to look for work.

"There is a laser-like focus on holding employers accountable. In the final analysis, they are the ones supplying the jobs. It is the greatest use of the resources," Kibble said.

Under Obama, cases against employers are up sharply: Immigration and Customs Enforcement quadrupled the number of employer audits after Obama took office, increasing the number of inspections and arrests against those who knowingly hire illegal immigrants. Businesses were fined $6.9 million in fiscal 2010, up from $675,000 in 2008.

The debate over immigration enforcement comes at a time when the administration has hired more Border Patrol agents and deployed 1,200 National Guard troops to the U.S.-Mexico border over the summer to bolster efforts to stop illegal entry.

The Obama administration deported 392,862 illegal immigrants in fiscal 2010, according to ICE figures, a 6% increase over the 369,221 removed from the country in 2008.

More than 195,000 criminals were deported in 2010, a 70% increase over 2008 in the forced removal of immigrant criminals.

The number of illegal immigrants coming into the U.S. is declining, according to a report released in September by the Pew Hispanic Center.

Based on census and labor statistics, the Pew report found that roughly 300,000 illegal immigrants crossed the border annually between 2007 and 2009, down from about 850,000 annually from 2000 to 2005. It is unclear if the decrease is a result of a sagging economy that reduced demand for labor or stepped-up enforcement efforts — or perhaps both.

"If we continue with just enforcement only, I think we will be here for years and years dealing with the same problem," said Daniel Griswold, director of the Center for Trade Policy Studies at the Cato Institute. "It is simple supply and demand. We have demand for these workers and the supply of American workers to fill these jobs is shrinking."

*

OBAMA PROMISES HIS CRIMINAL BANKSTER DONORS NO PRISON, NO REGULATION, NO INTERFERENCE, AND HUGE GOV SUPPORTED WELFARE

MEXICANOCCUPATION.blogspot.com


*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.

HOW BADLY WILL THE BANKSTER OWNED PRESIDENT MUCK US OVER? HOW MUCH WIDER WILL HE PUSH OUR BORDERS OPEN? HOW MUCH MORE OF THE ECONOMY WILL HE HAND OVER TO HIS WALL ST. CRONIES?



HE IS ONE OF THE MOST CORRUPT PRESIDENTS IN AMERICAN HISTORY, AND PERHAPS THE GREATEST ACTOR THAT MOVED INTO THE WHITE HOUSE!



FROM HIS FIRST DAY, OBAMA HAS PULLED TOGETHER THE MOST CORRUPT OF THE BUSH’S ADMINISTRATION’S BANKSTERS, SUCH AS BUSH’S ARCHITECT FOR BANKSTER WELFARE, BAILOUTS AND NO (REAL) REGULATION, TIM GEITHNER.

SHE IS BUSH’S WAR PROFITEER, AND ALSO ONE OF THE MOST CORRUPT POLITICIANS IN AMERICAN HISTORY, DIANNE FEINSTEIN SPOKE AT HIS INAUGUERAL. SHE FRONTED FOR HER BANKSTER DONORS, WELLS FARGO and BANK OF AMERICA AS THEY REWROTE THE BANKRUPTCY LAWS TO PROTECT THEIR CRIMINAL MORTGAGES FROM BEING REWRITTEN!



THE BANKSTER PRESIDENT MADE SURE THAT BANKSTER BOYS, CHRIS DODD AND BARNEY FRANK, BOTH LISTED ON JUDICIAL WATCH’S TEN MOST CORRUPT, WAS COOKING UP THE BOOKS FOR THE OBAMA NO (REAL) REGULATION.



FROM THE SENATE FLOOR, AND IN FRONT OF THE AMERICAN PEOPLE, THIS PRESIDENT ANNOUNCED TO A NATION IN BANKSTER MELTDOWN, THAT HE WAS “not here to punish banks”….

HOW BADLY HAS OBAMA PUNKED US? WELL, THEY’RE STILL DOING IT TO US! AND OBAMA JUST MOVED IN A MAN OWNED BY HIS BIGGEST BANKSTER DONOR, J.P. MORGAN, INTO HIS OFFICE! THE ONLY OTHER PREREQUISATE THAT OBAMA HAD OF HIS NEW CHIEF OF STAFF, IS THAT HE BE AN ADVOCATE FOR OPEN BORDERS, AND MORE ILLEGALS TO KEEP WAGES DEPRESSED FOR OBAMA’S WALL ST. DONORS



*

FINANCIAL CRISIS PANEL URGES PROSECUTIONS OF INDUSTRY FIGURES



By Greg Gordon
McClatchy Newspapers

WASHINGTON — The congressional panel examining the root causes of the nation's financial crisis voted to refer to state and federal prosecutors a wide range of potential criminal wrongdoing by financial industry figures and corporations, people involved in the deliberations said Tuesday.

The politically divided Financial Crisis Inquiry Commission is likely to detail the referrals on Thursday in releasing its final report, based on testimony from more than 700 people in coast-to-coast hearings and a review of millions of pages of documents.

The Huffington Post website first reported on the commission's referrals Monday evening.

It couldn't be learned which financial executives and companies were subject of the referrals to the Justice Department and state attorneys general. The panel investigated the roles of, among others, subprime mortgage brokers and lenders; Wall Street giants that bought, repackaged and resold the loans; bond ratings agencies; and a huge insurer that wrote protection on dicey bonds, enabling a U.S. housing bubble to swell until it burst, crashing the global economy.

Two people who had roles in the deliberations, speaking on condition of anonymity because the report is still confidential, said that the panel voted on a number of the Justice Department referrals months ago.

"And we've done some more," one of these individuals said.

The legislation creating the commission, signed by President Barack Obama on May 20, 2009, charged the 10-member panel to refer to the U.S. attorney general and appropriate state attorneys general "any person that the commission finds may have violated the laws of the United States in relation to (the) crisis."

"We did our duty," said one of the two involved in the process.

However, the other knowledgeable person stressed that the panel's thin investigative staff didn't attempt to compile evidence for solid criminal cases, but rather referred information that raised serious legal issues.

The panel sought to model itself after the hard-hitting Pecora Commission, the Depression-era panel that compiled evidence leading to prosecutions of high officials of some of the nation's biggest banks.

However, the Crisis Inquiry Commission's six Democrats and four Republicans split ideologically in the months after their appointment. The divisions showed up when Republicans chose to release their own findings in December, the original deadline for the final report, and blamed much of the crisis on the "national home ownership strategy" begun under President Bill Clinton and on secondary mortgage giants Fannie Mae and Freddie Mac for jumping into the subprime market.

Commission members and staff signed agreements to keep details of the final report confidential until its release.

However, the New York Times reported late Tuesday that it had obtained a copy of the 576-page report, which it said concluded that the financial disaster was "avoidable" and laid blame on a range of actors from federal regulatory failures to shoddy mortgage lending and reckless risk taking.

Commission spokesman Tucker Warren said the report will be released Thursday and declined to comment further.

(Tish Wells contributed to this article.)





Read more: http://www.mcclatchydc.com/2011/01/25/107430/in-report-financial-crisis-panel.html#storylink=omni_popular#ixzz1CFd8kkpP



• Posted on Monday, January 24, 2011

Wall Street firms earn high profits with Uncle Sam's backing





Read more: http://www.mcclatchydc.com/2011/01/24/107342/wall-street-firms-earn-high-profits.html#ixzz1CFhXylu6



By Greg Gordon
McClatchy Newspapers

WASHINGTON — Goldman Sachs, Morgan Stanley and other Wall Street giants that played roles in the subprime mortgage debacle are reporting huge profits and awarding hefty bonuses again even as the government remains on the hook for tens of billions of dollars of their debt.

Banking behemoths are among the scores of lenders and insurers that floated as much as $345.8 billion in federally guaranteed bonds under a program that's widely credited with helping to keep money flowing at the height of the financial crisis, when businesses had nowhere to turn for capital.

Now, with the crisis in the rearview mirror, banks that escaped tough federal pay restrictions by retiring more than $200 billion in direct loans from the Treasury Department are still benefiting from the Federal Deposit Insurance Corp.'s less-conspicuous debt guarantee program, which has no such strings attached.

Some of the Wall Street firms that are getting the guarantees are expected to draw criticism from the congressionally appointed Financial Crisis Inquiry Commission this week when the panel issues its final report on the root causes of the subprime mortgage meltdown, which crashed the global economy.

Under the FDIC program, federal guarantees ensured that bonds that dozens of lenders, investment banks and insurers issued — including Goldman, JPMorgan Chase, Bank of America, Morgan Stanley, Citigroup and General Electric — got gold-plated ratings that drew investors and drove down the cost of financing the debt.

The FDIC's bank insurance fund, which backs the bonds, has reaped more than $10 billion in fees from firms using the guarantees, while the outstanding debt declined to $267 billion as of Dec. 31.

The program doesn't expire until the end of 2012, and the agency says that most of the bonds don't expire until next year.

Robert Pozen, the chairman of Boston-based MFS Investment Management, argues that the government shouldn't have released firms from executive pay restrictions until they'd paid off the Treasury Department's Troubled Asset Relief Program and the FDIC program.

"Any bank that gets out of TARP, it's basically saying that it's now 'good to go' in the private market," said Pozen, the author of the 2010 book "Too Big to Save?" "They shouldn't be continuing to have this big guaranteed subsidy."

However, the agency put tight restrictions on banks' ability to refinance the bonds. Further hampering refinancing is the fact that the market for unsecured bank debt is just beginning to thaw. Morgan Stanley only recently completed a $5.25 billion bond offering, the largest by a U.S. bank in 20 months.

Banking industry consultant Bert Ely said that the adequacy of the fees in the FDIC program, known as the Temporary Liquidity Guarantee Program, was "the kind of thing that will be debated for years."

"If you don't charge enough, then that's what creates moral hazard" and the presumption that risky behavior won't be penalized, he said. "If you charge too much, you may end up sinking institutions that you need."

On Monday, the FDIC, which hadn't identified the participants in its program, gave McClatchy a list of the institutions involved.

Three of the nation's biggest banks — Citigroup, JPMorgan Chase and Charlotte-based Bank of America — account for more than a third of the outstanding debt. Citigroup owes $58.2 billion, JPMorgan $36.1 billion and Bank of America $27.4 billion.

The biggest initial issuer, however, was GE Capital Corp., General Electric's financing arm, which reported nearly $74 billion in FDIC-backed debt as of March 2009, a figure that's since declined to $53.4 billion. Ally Financial, formerly the financing arm for General Motors, has $7.4 billion in guaranteed debt outstanding.

Ely said the banks "are clearly profiting by virtue of having this relatively low-cost funding in place, even though it's in this runoff mode. The question is, to the extent they're making money, how much of that is going into the bonuses? ... There's no way to figure that out."

Goldman, which is doling out $15 billion in employee bonuses for 2010, borrowed as much as $29.8 billion under the FDIC program. It still owes $18.8 billion.

Goldman became something of a pariah in Washington before it settled an SEC civil fraud suit last summer for $550 million that stemmed from its controversial sales of subprime mortgage securities. It's sought to restore its image by announcing an array of internal revisions.

Last week, perhaps symbolizing a return to normalcy, Goldman CEO Lloyd Blankfein was among U.S. corporate chiefs invited to attend a White House luncheon with President Barack Obama and Chinese President Hu Jintao, followed by a state dinner.

Some skeptics have suggested that firms such as Goldman and Morgan Stanley could easily have used the proceeds of the guaranteed bond sales to pay off their TARP loans.

A spokesman for Goldman, which repaid a $10 billion TARP loan in the summer of 2009, declined comment on its government-backed debt.

Spokeswoman Sandra Hernandez of Morgan Stanley, which also repaid a $10 billion TARP tab from Treasury, said the money didn't come from the proceeds of its government-backed bonds, on which it still owes $21.3 billion.

MORE FROM MCCLATCHY





Read more: http://www.mcclatchydc.com/2011/01/24/107342/wall-street-firms-earn-high-profits.html#ixzz1CFdcr7D4



MEXICANOCCUPATION.blogspot.com





Obama seldom brings anyone into his administration that is not corrupt, a bankster, or LA RAZA PARTY MEMBER.

WITH HIS NEW CHIEF OF STAFF DALEY, OBAMA HAS BOTH! A J.P. MORGAN BANKSTER (J.P.s PROFITS UP THIS YEAR 47%), AND AN OPEN BORDERS ADVOCATE PER THE U.S. CHAMBER of COMMERCE.



*

“Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).”



*

FROM CREOLE FOLKS



Obama Seeks Brother of "Chicago Mob Boss" for Top White House Post

The roaches and con-artist, fake journalist on cable news are all lying about William Daley being all this and all that, this man is an open borders, down with America, free trade globalist. MSNBC and Gretta "the Scientology" Van Susteren from Fox News are knowingly deceiving the public about D. Issa & his letter to "business owners"=which they made into such a BIG DAM DEAL, but no one says anything whenBarrack Hussein Obama, comes around with all of these shady bankers, hedge fund managers and Wall St. Tycoons, which he puts in his cabinet. All of Obama's meeting with Wall Street asking, "What can I do for you?" is never something covered by Keith Oberman or Rachel Maddow.

(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.



MIT Professor and co-author of 13 Bankers

Posted: December 3, 2010 09:14 AM

Jamie Dimon: Becoming Too Big To Save -- Creating Fiscal Disaster

In Sunday's New York Times magazine, Roger Lowenstein profiles Jamie Dimon, head of JP Morgan Chase. The piece, titled "Jamie Dimon: America's Least-Hated Banker," is generally sympathetic, but in every significant detail it confirms that Mr. Dimon is now -- without question -- our most dangerous banker.

Mr. Dimon is not dangerous because he is in any narrow sense incompetent. On the contrary, Mr. Dimon is very good at getting what he wants. And now he wants to run a bigger, more interconnected, and more global bank that -- if it were to fail -- would cause great chaos around the world. Lowenstein writes: "Dimon has always been unusually blunt, and he told me that not only are big banks like JP Morgan (it has $2 trillion in assets) not too big, but that they should be allowed to grow bigger."

The problem with very big banks is not that they are "too big to fail," in the sense that it is physically impossible for them to fail. It is that they are so large and therefore so connected with each other -- and with all aspects of how the modern economy operates -- that the failure of even one such bank would cause great damage throughout the world.

Lehman Brothers had a balance sheet of around $600 billion when it failed. Its collapse helped trigger the worst financial crisis and deepest recession since the 1930s. Imagine what would happen if JP Morgan Chase -- even at today's scale -- were allowed to go bankrupt.

Dimon is brilliantly disingenuous on this key point: "No one should be too big to fail," he tells me. And J. P. Morgan? "Right," he says. "Morgan should have to file for bankruptcy."

But Dimon himself argued, in a November 2009 op-ed in the Washington Post, that regular bankruptcy is not a feasible option for megabanks. Instead he eloquently advocated the creation of a special resolution mechanism for big banks -- an update and expansion of the powers that the FDIC has long used to handle the orderly failure of small and medium-sized banks with insured retail deposits:

Creating the structures to allow for the orderly failure of a large financial institution starts with giving regulators the authority to facilitate failures when they occur. Under such a system, a failed bank's shareholders should lose their value; unsecured creditors should be at risk and, if necessary, wiped out. A regulator should be able to terminate management and boards and liquidate assets. Those who benefited from mismanaging risks or taking on inappropriate risk should feel the pain. We can learn here from how the Federal Deposit Insurance Corp. closes banks. As with the FDIC process, as long as shareholders and creditors are losing their value, the industry should pay its fair share.

Unfortunately, the resolution authority that ended up being created by the 2010 Dodd-Frank financial reform legislation does not cover JP Morgan Chase because Dimon's bank operates so extensively outside the US (30 percent non-US in its current business, on its way to 50 percent, according to Lowenstein). There is nothing in the current resolution mechanism or the broader powers of the Financial Stability Oversight Council that enables the relevant authorities to implement the orderly winding down of a cross-border bank, like JP Morgan is today or Lehman was in 2008.

And there is no prospect of any kind of inter-governmental agreement to put in place a process for imposing orderly and foreseeable losses on the creditors to cross-border bank. In fact, the Basel Committee of bank regulators, which has jurisdiction in this matter -- and which Dimon praises in the New York Times interview -- has definitely decided not to take up the issue.

JP Morgan Chase is already Too Big To Fail. If it were to threaten failure, the government would face a terrible choice: provide some form of unsavory bailout, i.e., fully protecting creditors; or risk the outbreak of a Second Great Depression. While the executive branch pondered these alternatives, there would be global financial panic.

But that is not the worst of our worries. Jamie Dimon is apparently dead set on ensuring JP Morgan Chase becomes even larger, in part by expanding its operations in emerging markets in India, China, and elsewhere.

As Ireland and other European countries have recently discovered to their horror, Too Big To Fail banks that want to expand globally can grow so large that they become Too Big To Save. "Too Big To Save" means that the government wants to save the bank -- e.g., by providing a blanket guarantee, as the Irish did in October 2008 -- but that creates such a large liability for the state that it pushes the entire country into insolvency.

JP Morgan Chase is well on its way to becoming Too Big To Save. Through expanding overseas, it effectively bypasses the weak controls we still have in place on bank size (no bank is supposed to have more than 10 percent of total retail deposits). Experience in Europe is that this strategy can enable individual banks to build balance sheets that are larger than the GDP of the country in which they are based -- in the UK, for example, the Royal Bank of Scotland had a balance approaching 1.5 times the size of the British economy. And then it failed.

If JP Morgan Chase were to reach the equivalent size in the US, it would be a $20 trillion bank. Perhaps that would take awhile, but JP Morgan Chase soon at $4 trillion or $8 trillion is easy to imagine.

Dimon argues that banks becoming bigger is the natural outcome of market processes. He is completely wrong -- as Thomas Hoenig, president of the Kansas City Fed explained in a New York Times op-ed this week:

These firms [big banks] reached their present size through the subsidies they received because they were too big to fail. Therefore, diminishing their size and scope, thereby reducing or removing this subsidy and the competitive advantage it provides, would restore competitive balance to our economic system.

(See also this news coverage on Hoenig's views.)

Or listen to Gene Fama -- the father of the modern "efficient markets" view of finance. He told CNBC that Too Big To Fail banks are "perverting activities and incentives", giving big financial firms, "a license to increase risk; where the taxpayers will bear the downside and firms will bear the upside."

Or read the recent letter to the Financial Times by Anat Admati and other top names in academic finance. They could be speaking directly of Dimon and his views in the New York Times piece when they say:

Many bankers oppose increased equity requirements, possibly because of a vested interest in the current systems of subsidies and compensation. But the policy goal must be a healthier banking system, rather than high returns for banks' shareholders and managers, with taxpayers picking up losses and economies suffering the fall-out.

(See also Professor Admati's follow up letter to the FT this week, further blasting the views of top bankers and their acolytes.)

Jamie Dimon's job is to make money for his shareholders and even he has struggled -- the bank's stock price is only roughly where it was when Dimon took control in 2004. He really believes that the answer to his stock price doldrums is to make JP Morgan Chase bigger and more complex. In effect, he wants to load up on risk -- hoping that this will pay off for him, his employees, and (presumably) his shareholders, and really not caring much about who bears the downside risk.

Lowenstein mentions at various points that Dimon was a protégé of Sandy Weill, but he neglects to remind us that Weill in his heyday espoused many of the same ideas that Dimon stresses in the interview. Weill believed there were great synergies between commercial and investment banking (and insurance). Weill was convinced that bigger was undoubtedly better both for shareholders and for society. He was wrong on all counts, as explained by Katrina Brooker in the New York Times earlier this year:

"The dream, the mirage has always been the global supermarket, but the reality is that it was a shopping mall," says Chris Whalen, editor of The Institutional Risk Analyst, of Citi's evolution over the last decade. "You can talk about synergies all day long. It never happened."

Sandy Weill, of course, built the modern Citigroup, which effectively collapsed -- in spectacular fashion -- in 2008-09, and which had to be rescued by the government at least twice. What was Citigroup's balance sheet at the time? It was just over $2 trillion, roughly the size of JP Morgan Chase today. And Citigroup was (and is) extremely global -- doing business in more than 100 countries.

Jamie Dimon is intent on building a bank that will surpass all the size and complexity records set by Sandy Weill's Citigroup.

Whether or not JP Morgan Chase will fail on Jamie Dimon's watch remains to be seen. He is, without doubt, a relatively careful risk manager in an industry where hubris tends to run amok.

But sooner or later Jamie Dimon will hand over the reins to someone who is decidedly less careful, someone who goes with the groupthink, and perhaps even someone like Chuck Prince, head of Citigroup, who inherited Sandy Weill's mantle and said -- in July 2007, "When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing."

The music had already stopped when he said that.

If the Dimon's bigger, more global, and greatly interconnected JP Morgan Chase is still dancing next time the music stops, the choice will not be bailout vs. great recession. The real choice will be no choice at all: fiscal disaster through attempted bailout (Ireland), or fiscal disaster through economic collapse (Iceland).

*

Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).



*



BY DAVID SALTONSTALL



DAILY NEWS SENIOR CORRESPONDENT

July 1st 2008

Wall Street firms have chipped in more than $9 million to Barack Obama. Zurga/Bloomberg

Wall Street is investing heavily in Barack Obama.



Although the Democratic presidential hopeful has vowed to raise capital gains and corporate taxes, financial industry bigs have contributed almost twice as much to Obama as to GOP rival John McCain, a Daily News analysis of campaign records shows.



"Wall Street wants change and wants a curtailment in spending. It wants someone who focuses on the domestic economy," said Jim Cramer, the boisterous host of CNBC's "Mad Money."



Cramer also does not discount nostalgia for the go-go 1990s, when Bill Clinton led the largest economic expansion in history.



"It wants a Clinton like in 1992, but not a Hillary Clinton," he said. "That's Barack Obama."



For both candidates, Wall Street's investment and banking sectors have become among their portliest cash cows, contributing $9.5 million to Obama and $5.3 million to McCain so far.



It's a haul that is already raising concerns that, as the nation's faltering economy has become issue No. 1, the two candidates may have a hard time playing tough on issues like market regulation or corporate-tax loopholes.



"No matter who wins in November, Wall Street will have a friend in the White House," said Massie Ritsch of the Center for Responsive Politics, which crunched the data for The News.



Wall Street's generosity toward Obama, in particular, would seem to run counter to its self-interests.



In addition to calling for corporate and capital gains tax hikes, Obama has proposed raising income taxes on those earning more than $250,000.



But Wall Street is often motivated by something more than money - winning.



"In general, these are professional prognosticators," said Ritsch. "And they may be putting their money on the person they predict will win, not the candidate they hope will win."



Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).



McCain's top five include Wall Street's Merrill Lynch ($230,310) and Citigroup ($219,551).



Obama's Wall Street haul is not the biggest ever. That distinction belongs to President Bush, who as an incumbent in 2004 raised $10,852,696 from Wall Street interests through April that year - about $1 million more than Obama.



"Sen. Obama went to Wall Street to tell executives that our economy isn't working if they alone are prospering but people living on Main Street are not," Obama spokesman Tommy Vietor said.



MEXICANOCCUPATION.blogspot.com

*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*

Report Illegals & Employers Toll Free... (866) 347-2423

INS National Customer Service Center Phone: 1-800-375-5283.

http://www.ice.gov/ ICE, ice, ICE

http://www.reportillegals.com/



*



http://www.FAIRUS.org



http://www.JUDICIALWATCH.org



http://www.ALIPAC.us

CRONY CAPITALISM - PILLAGE OF A NATION BY OBAMA & HIS BANKSTER DONORS

*

Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses



BY TIMOTHY P CARNEY





Editorial Reviews

Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics.

Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.”

If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

*



Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers.

Investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. In this explosive book, Carney reveals:

* The Great Health Care Scam—Obama’s backroom deals with drug companies spell corporate profits and more government control

* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda

* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)

* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists

* How the GOP needs to change its tune—drastically—to battle Obamanomics

If you’ve wondered what’s happening to our country, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages” that create make-work government jobs, this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

*

Praise for Obamanomics

“The notion that ‘big business’ is on the side of the free market is one of progressivism’s most valuable myths. It allows them to demonize corporations by day and get in bed with them by night. Obamanomics is conservative muckraking at its best. It reveals how President Obama is exploiting the big business mythology to undermine the free market and stick it to entrepreneurs, taxpayers, and consumers. It’s an indispensable field guide to the Obama years.”

—Jonha Goldberg, LA Times columnist and best-selling author

“‘Every time government gets bigger, somebody’s getting rich.’ With this astute observation, Tim Carney begins his task of laying bare the Obama administration’s corporatist governing strategy, hidden behind the president’s populist veneer. This meticulously researched book is a must-read for anyone who wants to understand how Washington really works.”

—David Freddoso, best-selling author of The Case Against Barack Obama

“Every libertarian and free-market conservative who still believes that large corporations are trusted allies in the battle for economic liberty needs to read this book, as does every well-meaning liberal who believes that expansions of the welfare-regulatory state are done to benefit the common people.”

—Congressman Ron Paul

“It’s understandable for critics to condemn President Obama for his ‘socialism.’ But as Tim Carney shows, the real situation is at once more subtle and more sinister. Obamanomics favors big business while disproportionately punishing everyone else. So-called progressives are too clueless to notice, as usual, which is why we have Tim Carney and this book.”

—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History

*

• Hardcover: 256 pages

• Publisher: Regnery Press (November 30, 2009)

• Language: English

• ISBN-10: 1596986123

• ISBN-13: 978-1596986121



*

Why Mexico Has Exported Half Its Population For Our Jobs - JOSE ILLEGAL vs STUPID JOE LEGAL PUTTING UP WITH IT

MEXICANOCCUPATION.blogspot.com




Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.







THE TAX- FREE MEX UNDERGROUND ECONOMY IN LOS ANGELES COUNTY ALONE IS CALCULATED TO BE $2 BILLION A YEAR. THIS SAME COUNTY PAYS OUT $600 MILLION A YEAR IN WELFARE TO ILLEGALS!





*



READER OF THE WASHINGTON POST WRITES:





I know an illegal making over $2,000 a week at an auto upholstery shop. That's over 100K yearly! How many of our college-grad teachers earn that much? Most Americans DON'T.



And he told me he sends almost 90 percent of his paycheck home to his family in Mexico City, while living here with a "girlfriend" collecting welfare and food stamps.



Plus, he conserves his paycheck further by getting "free" food, clothing, etc. from taxpayer-funded agencies and church donations intended for our own needy people.



*



AN AMERICAN SEES & SPEAKS





tncdel wrote:



It appears that Pelosi isn't as clueless and out-of-touch as many of us thought ... at least not as far as being aware that she needs to do something to be re-elected.



But how can she justify her position on trying to give amnesty and everything else [even a Dream Act to go to college for Chrissakes!] to the over 20 million illegals in the U.S., so as to encourage them to invite all their extended family members and job-stealing amigos to come here too?



Pelosi sends mixed signals to those she is supposed to be serving, by instead serving the interests of foreign nationals here illegally.



How can the Democrats claim in good faith that they are truly concerned about our country's economy as long as they are trying to do things that wreak havoc upon it?





I know an illegal making over $2,000 a week at an auto upholstery shop. That's over 100K yearly! How many of our college-grad teachers earn that much? Most Americans DON'T.



And he told me he sends almost 90 percent of his paycheck home to his family in Mexico City, while living here with a "girlfriend" collecting welfare and food stamps.



Plus, he conserves his paycheck further by getting "free" food, clothing, etc. from taxpayer-funded agencies and church donations intended for our own needy people.



He even got one taxpayer-funded Latin Community group to pay for his CELLPHONE! So he can stay in touch with his family.



The illegal alien's name is Ruben. And that car upholstery shop has a "phantom workforce" to supplement its legally employed workforce, which is all they report for tax purposes. Ruben's brother also works there.



Here's how he gets paid: If the shop charges a customer $1500 to re-upholster car seats, and it only takes Ruben 3 hours to do it, he gets HALF. So he gets paid about $250 per hour. And both Ruben and the shop are quite happy with their arrangement.



I reported it, giving the name and location of the shop, to my Democrat federal senator's office, asking them to investigate and prosecute. But they ignored my request... which is typical of most Democrats and many Republicans in Congress. For they are deliberately turning a blind eye to it.



This is far from an isolated example. Illegals are not only stealing high-paying skilled blue-collar type jobs, but also many illegals own their own businesses [construction, home improvement, landscaping, auto repair, roofing, paving, janitorial services, housekeeping, etc., etc.].



Next time you're in Home Depot or Lowes, look for illegals there getting supplies for their plumbing jobs, etc.



I have a friend who tried starting a janitorial services business. But he gave up after a few months, telling me he couldn't compete with illegals paying their illegal employees $3 an hour.



Another illegal near me was selling used cars with open titles, parking them at a shopping center with "for sale" signs on anywhere from one to three cars at a time. And he was selling them quickly. Every week I saw different cars. But I reported it to my state's motor vehicle department, and about a month later they towed his cars away and warned the shopping center to not let anyone sell cars there.



In Pelosi's state she has allowed them to bankrupt over 100 hospitals and to render California's infrastructure virtually gasping for its breath.



*

AN AMERICAN SEES & SPEAKS

I THOUGHT ILLEGALS CAME TO WORK (haight ashbury)



it seems that they came to fleece us. they get food stamps, section eight housing medical, heat vouchers, and a job off the books that they stole from an american citizen who jusy happens to not have a college degree. What do we get in return? we get a violent culture where their own politicians get killed if they don't follow the drug lords' will. We get gangs of cowards who have no respect for human life.We get drive-by shootings. We get our jails filled up.They force other weaker illegals into the sex trade. we get our cars stolen, our children raped, our homes, burglarized and for what? So a handful of selfish politicians can get elected by catering to the hispanic vote. I'm very disappointed in american hispanics who put foreign hispanics before their own countrymen of a different color. To me, it shows their true colors and that it is all about increasing their political power. You know we whites can play the racist game too. What have mexicans ever invented? Cars, planes, trains, phones, t.v., computers,sewing machines, rocket ships that can take a man to the moon and beyond. WHAT? ABSOLUTELY NOTHING. Yet we americans are willing to share all these things with you ,even though you people didn't know what a wheel was or how to use it when we met you! But still you people come over in record numbers and try to take over. If you ever did take over through the selfishness of our self centered politicians who are in reality traitors under the guise of liberalism, evolution and progress would come to a screeching halt and within a few centuries we would be like 'planet of the apes'.

*

THE ENTIRE REASON THE BORDERS ARE LEFT OPEN IS TO CUT WAGES!



“We could cut unemployment in half simply by reclaiming the jobs taken by illegal workers,” said Representative Lamar Smith of Texas, co-chairman of the Reclaim American Jobs Caucus. “President Obama is on the wrong side of the American people on immigration. The president should support policies that help citizens and legal immigrants find the jobs they need and deserve rather than fail to enforce immigration laws.”

*

MOST OF THE FORTUNE 500 ARE GENEROUS DONORS TO LA RAZA – THE MEXICAN FASCIST POLITICAL PARTY. THESE FIGURES ARE DATED. CNN CALCULATES THAT WAGES ARE DEPRESSED $300 - $400 BILLION PER YEAR!

“The principal beneficiaries of our current immigration policy are affluent Americans who hire immigrants at substandard wages for low-end work. Harvard economist George Borjas estimates that American workers lose $190 billion annually in depressed wages caused by the constant flooding of the labor market at the low-wage end.” Christian Science Monitor

*

Illegals make more than US workers

Joe Legal works in construction, has a Social Security Number and makes $25.00 per hour with taxes deducted.

Jose Illegal also works in construction, has NO Social Security Number, and gets paid $15.00 cash "under the table".

Ready? Now pay attention...

Joe Legal: $25.00 per hour x 40 hours = $1000.00 per week, or $52,000.00 per year. Now take 30% away for state and federal tax; Joe Legal now has $31,231.00.

Jose Illegal: $15.00 per hour x 40 hours = $600.00 per week, $31,200.00 per year. Jose Illegal pays no taxes. Jose Illegal now has $31,200.00.

Joe Legal pays medical and dental insurance with limited coverage for his family at $600.00 per month, or $7,200.00 per year. Joe Legal now has $24,031.00.

Jose Illegal has full medical and dental coverage through the state and local clinics at a cost of $0.00 per year. Jose Illegal still has $31,200.00.

Joe Legal makes too much money and is not eligible for food stamps or welfare. Joe Legal pays $500.00 per month for food, or $6,000.00 per year.. Joe Legal now has $18,031.00.

Jose Illegal has no documented income and is eligible for food stamps and welfare. Jose Illegal still has $31,200.00.

Joe Legal pays rent of $1,200.00 per month, or $14,400.00 per year. Joe Legal now has $9,631 .00.

Jose Illegal receives a $500.00 per month federal rent subsidy. Jose Illegal pays out that $500.00 per month, or $6,000.00 per year. Jose Illegal still has $ 31,200.00.

Jose Illegal receives a $280.00 per family member/ month federal CASH AID for four family members . Jose Illegal has $ 43,200.00.

Joe Legal pays $200.00 per month, or $2,400.00 for insurance. Joe Legal now has $7,231.00.

Jose Illegal says, "We don't need no stinkin' insurance!" and still has $ 43,200.00.

Joe Legal has to make his $7,231.00 stretch to pay utilities, gasoline, etc.

Jose Illegal has to make his $ 43,200.00. stretch to pay utilities, gasoline, and what he sends out of the country every month.."actually Jose illegal doesn't pay for most utilities in many states as he gets county assistance to pay the bills and his late fees"

Joe Legal now works overtime on Saturdays or gets a part time job after work. "and pays a higher tax rate if he earns above a certain amount"

Jose Illegal has nights and weekends off to enjoy with his family.

Joe Legal's and Jose Illegal's children both attend the same school. Joe Legal pays for his children's lunches while Jose Illegal's children get a government sponsored lunch. Jose Illegal's children have an after school ESL program. Joe Legal's children go home.

Joe Legal and Jose Illegal both enjoy the same police and fire services, but Joe paid for them and Jose did not pay.

…. AND THEN JOE LEGAL STILL GETS THE TAX BILL TO SUPPORT ALL THIS “CHEAP” MEXICAN LABOR, AND THE CRIME TIDAL WAVE THAT COMES WITH THE OCCUPATION!



*

THE EVER EXPANDING MEX WELFARE STATE IN THIS NATION!

THIS FIGURE IS DATED. LAST COUNT IT WAS HOVERING AROUND $50 MILLION AND GOING UP AS FAST AS THE MEXICAN CAN GET PREGNANT!





LOS ANGELES COUNTY SPENDS 37 MILLION... ONE MONTH... WELFARE FOR ILLEGALS!



Welfare and food stamp benefits soar $3 million higher than September payout. New statistics from the Department of Public Social Services reveal that illegal aliens and their families in Los Angeles County collected over $37 million in welfare and food stamp allocations in November 2007 – up $3 million dollars from September, announced Los Angeles County Supervisor Michael D. Antonovich. Twenty five percent of the all welfare and food stamps benefits is going directly to the children of illegal aliens. Illegals collected over $20 million in welfare assistance for November 2007 and over $16 million in monthly food stamp allocations for a projected annual cost of $444 million. “This new information shows an alarming increase in the devastating impact Illegal immigration continues to have on Los Angeles County taxpayers,” said Antonovich. “With $220 million for public safety, $400 million for healthcare, and $444 million in welfare allocations, the total cost for illegal immigrants to County taxpayers far exceeds $1 billion a year – not including the millions of dollars for education.”



http://www.freerepublic.com/focus/f-news/1949085/posts



MEXICANOCCUPATION.blogspot.com

*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*

Report Illegals & Employers Toll Free... (866) 347-2423

INS National Customer Service Center Phone: 1-800-375-5283.

http://www.ice.gov/ ICE, ice, ICE

http://www.reportillegals.com/



*



http://www.FAIRUS.org



http://www.JUDICIALWATCH.org



http://www.ALIPAC.us



*

http://blogs.mcclatchydc.com/mexico/2011/01/getting-over-the-border-fence-fast.html



CONTACT THE HISPANDERING LA RAZA PARTY PRESIDENT HERE:



You can contact President Obama and let him know of your opposition to amnesty for illegal aliens:

http://www.whitehouse.gov/CONTACT/

Rep. Joe Baca - RABIDLY RACIST MEX SUPREMACIST DEMANDS EXPANDED MEX WELFARE STATE

MEXICANOCCUPATION.blogspot.com




JOE BACA, TYPICAL RACIST MEXICAN! PAID OFF LEGALS’ BACK, WHILE HE WORKS FOR ILLEGALS AND THE EXPANSION OF THE MEXICAN WELFARE STATE.





Bill aims to end in-state tuition fees for illegal immigrants

Stephen Wall, Staff Writer

Posted: 02/15/2010 05:30:45 PM PST



The days of taxpayer-subsidized college tuition could be coming to an end for tens of thousands of illegal immigrants.

Republicans in the House of Representatives have introduced a bill to close a loophole that California and nine other states have used to provide lower-cost college tuition to illegal immigrants.

Supporters of the legislation say it's wrong for illegal immigrants to pay the same tuition as legal immigrants and U.S. citizens to attend public colleges and universities.

"In-state tuition is a benefit paid for by each state's taxpayers in order to improve educational opportunities for their citizens," said Rep. Howard P. "Buck" McKeon, R-Santa Clarita, whose district includes Victorville and Barstow.

"Extending this benefit to students in this country illegally undermines efforts to crack down on illegal immigration and keep college affordable for American citizens and the immigrants who come here legally to pursue the best higher education system in the world," McKeon said.

The bill changes the 1996 Illegal Immigration Reform and Immigrant Responsibility Act to clarify that illegal immigrants who attend a postsecondary educational institution are ineligible for in-state tuition unless the institution offers those rates to all American citizens.

"You're telling me somebody who is an American citizen, was born here and parents pay taxes has to pay more than somebody here illegally. That's not right," said Rep.

Gary Miller, R-Brea, whose district includes Chino and Chino Hills.

"We have a shortage of space for many students and you have limited dollars," he said. "With the dollars available, they should first be applied to people that are legally in this country and are citizens."

Rep. Jerry Lewis, R-Redlands, has not taken a position on the bill. As a Californian, Lewis opposes in-state tuition for illegal immigrants but is generally opposed to the federal government putting limits on state policies, said Jim Specht, his spokesman.

Rep. David Dreier, R-San Dimas, voted for the 1996 bill intended to deny in-state tuition for illegal immigrants. Dreier is reviewing the new measure and supports closing any loopholes in the law, said Jo Maney, his spokeswoman.

The bill, introduced in late January, provides out-of-state students with legal standing to file civil actions against states and institutions that violate the federal law.

The measure also bars any college or university that provides in-state tuition to illegal immigrants from receiving federal funds.

California, Illinois, Kansas, Nebraska, New Mexico, New York, Texas, Utah, Washington and Wisconsin allow illegal immigrants to pay in-state tuition.

California's law, which took effect in 2002, is being challenged in court by students from other states who say they were unfairly denied a benefit that was granted to illegal immigrants. The lawsuit is pending before the state Supreme Court.

There are 15,000 to 20,000 students in the state's community colleges receiving the break on fees. The University of California system has about 1,600 students using the benefit. The Cal State system does not track the number of students who pay in-state tuition.

Opponents of the bill say students who work hard and play by the rules shouldn't be punished for wanting a better future.

"If we allow kids to become productive students, they pay more in taxes and contribute to society," said Rep. Joe Baca, D-San Bernardino. "If we don't allow them to go to college, the burden falls on the rest of the taxpayers." SO DOES THE BURDEN OF THEIR RACISM, CRIME RATES, HEAVY BREEDING, AND LOATHING FOR LAWS AND THE AMERICAN FLAG.



JOE BACA IS A VIRULENTLY RACIST CHARTER MEMBER OF LA RAZA “THE (MEX) RACE” FASCIST PARTY.

Baca has introduced his own bill to place qualified high school graduates in the country illegally on a fast track for citizenship.

"It would reduce our drop-out rate because more kids would have a reason to stay in school," Baca said. "It would have positive effects on society."

Alfonso Ortiz, a 20-year-old Cal Poly Pomona student who came to the United States illegally from Mexico when he was 4, said it would be nearly impossible to continue his studies if the bill becomes law. Illegal immigrants can't legally work and aren't eligible for government financial aid programs, making it hard to afford higher education, Ortiz said.

"Education is meant for everybody," said Ortiz, a San Bernardino resident who is studying mechanical engineering. "I don't see how it could be taken away from anyone. Since we are paying the money out of our own pocket, we should have the right to have a seat in any one of those classes."

Gil Navarro, a member of the San Bernardino County board of education, has worked for years to inform illegal immigrant students about opportunities for higher education.

"This bill imposes a mandate that would create a financial hardship on the state of California because of the loss of out-of-state tuition fees," Navarro said.

The Federation for American Immigration Reform, a Washington D.C.-based immigration-reduction organization, is helping to move the bill through Congress.

"This is the sort of issue that really hits the middle class," said Ira Mehlman, a spokesman for the group. "States like California are raising tuition through the roof and cutting admissions in the higher education system. Not only are they turning over seats to illegal aliens, they are requiring everybody else to subsidize those kids."





Read more: http://www.sbsun.com/news/ci_14406424#ixzz0g6EltBu4

*



JOE BACA – ON THE AMERICAN PAYROLL WORKING HARD FOR ILLEGALS!



Agendas of MEChA, La Raza, MALDEF, and Southwest Voter Registration Projects These are transcripts of live, recorded statements by elected U.S. politicians, college professors, and pro-illegal alien activists whose objective is to take control of our country "by vote if possible and violence if necessary!" 1. Armando Navarro, Prof. Ethnic Studies, UC Riverside at Latino Summit Response to Prop 187, UC Riverside, 1/1995

"These are the critical years for us as a Latino community. We're in a state of transition. And that transformation is called 'the browning of America'. Latinos are now becoming the majority. Because I know that time and history is on the side of the Chicano/Latino community. It is changing in the future and in the present the balance of power of this nation. It's a game - it's a game of power - who controls it. You (to MEChA students) are like the generals that command armies. We're in a state of war. This Proposition 187 is a declaration of war against the Latino/Chicano community of this country. They know the demographics. They know that history and time is on our side. As one community, as one people, as one nation within a nation as the community that we are, the Chicano/Latino community of this nation. What this means is a transfer of power. It means control."

*

THERE ARE NOW 90 MEMBERS OF CONGRESS IN THE CONGRESSIONAL HISPANIC CAUCUS WORKING FOR AMNESTY AND THE EXPANSION OF THE MEXICAN WELFARE STATE.



REP. JOE BACA, THE LA RAZA PARTY

“THE LATINOS ARE COMING... THE LATINOS ARE COMING!!! AND THEY’RE GOING TO VOTE!”

8. JOE BACA, former CA Assemblymember, currently member of Congress at Latino Summit Response to Prop 187 UC Riverside 1/1995 and Southwest Voter Registration Project annual conference in Los Angeles, 6/1996 "We need more Latinos out there. We must stand up and be counted. We must be together, We must be united. Because if we're not united you know what's going to happen? We're like sticks - we're broken to pieces. Divided we're not together. But as a unit they can't break us. So we've got to come together, and if we're united, si se puede (it can be done) and we will make the changes that are necessary. But we've got to do it. We've got to stand together, and dammit, don't let them divide us because that's what they want to do, is to divide us. And once we're divided we're conquered. But when we look out at the audience and we see, you know, la familia, La Raza (the family, our race), you know, it's a great feeling, isn't it a good feeling? And you know, I started to think about that and it reminded me of a book that we all read and we all heard about, you know, Paul Revere, and when he was saying, 'The British are coming, the British are coming!' Well, the Latinos are coming, the Latinos are coming! And the Latinos are going to vote. So our voices will be heard. So that's what this agenda is about. It's about insuring that we increase our numbers. That we increase our numbers at every level. We talk about the Congressional, we talk about the Senate, we talk about board of supervisors, board of education, city councils, commissions, we have got to increase out numbers because the Latinos are coming. Because what's going on right now, with 187, the CCRI (CA Civil Rights Initiative against affirmative action), and let me tell you, we can't go back, you know, we're in a civil war. But we need to be solidified, we need to come together, we must be strong, because united we form a strong body. United we become solidified, united we make a difference, united we make the changes, united Latinos will win throughout California, let's stick together, que si se puede, que no? (it can be done, right?)



“IF THEY’RE SUPPORTING LEGISLATION THAT DENIES THE UNDOCUMENTED DRIVER’S LICENSE, THEY DON’T BELONG IN OFFICE, FRIENDS. THEY DON’T BELONG HERE!”



MEXICANOCCUPATION.blogspot.com

*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*

Report Illegals & Employers Toll Free... (866) 347-2423

INS National Customer Service Center Phone: 1-800-375-5283.

http://www.ice.gov/ ICE, ice, ICE

http://www.reportillegals.com/



*



http://www.FAIRUS.org



http://www.JUDICIALWATCH.org



http://www.ALIPAC.us



*

http://blogs.mcclatchydc.com/mexico/2011/01/getting-over-the-border-fence-fast.html



CONTACT THE HISPANDERING LA RAZA PARTY PRESIDENT HERE:



You can contact President Obama and let him know of your opposition to amnesty for illegal aliens:

http://www.whitehouse.gov/CONTACT/

Mexican Fascist Party of LA RAZA For Mexican Supremacy - THE PARTY OF BARACK OBAMA

MEXICANOCCUPATION.blogspot.com


*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.

*



La Raza targets lawmakers who voted against the DREAM Act

By Kimberly Dvorak

La Raza targets lawmakers who voted against the DREAM Act



The National Council of La Raza (NCLA) announced it will begin a new ad campaign targeting those lawmakers who voted against the DREAM Act (Development, Relief, and Education of Alien Minors) during last year’s lame duck Congressional session.

La Raza (the race in Spanish) launched an online and print ad campaign named “We Will Not Forget.”

The campaign will serve as a reminder to voters that Congress members of both parties voted against the DREAM Act and Latino organizations were watching.

The ads will be running in Spanish-language newspapers in some states as well as select online websites in both English and Spanish.

The big red poster is downloadable and includes the pictures of all lawmakers who did not support illegal aliens’ children’s right to amnesty and qualify them for in-state college tuition. La Raza hopes supporters will download the poster and put it on their refrigerator to serve as a daily reminder.

“As we move into the new Congress and work toward advancing important legislation for our community, it’s crucial not to forget what happened in the lame duck session of 2010,” said Laura Vazquez of La Raza. “The ‘DREAM Act’ was an important measure of support for our community and we need to remember who stood with us and who turned their backs on us.”

To view the ad; http://www.nclr.org/images/uploads/pages/DREAMAdEng.pdf

For more stories; http://www.examiner.com/county-political-buzz-in-san-diego/kimberly-dvorak



*

LA RAZA AGENDA: 3 Examples

Richard Alatorre, Los Angeles City Council "They're afraid we're going to take over the governmental institutions and other institutions. They're right. We will take them over. . We are here to stay."



Mario Obledo, California Coalition of Hispanic Organizations and California State Secretary of Health, Education and Welfare under Jerry Brown, also awarded the Presidential Medal of Freedom by Bill Clinton "California is going to be a Hispanic state. Anyone who doesn't like it should leave."



Jose Pescador Osuna, Mexican Consul General We are practicing "La Reconquista" in California."

*

THE LA RAZA AGENDA

AGENDA OF LA RAZA, et al

TAKEN FROM TRANSCRIPTS DATED 1995. MANY OF THESE LA RAZA POLITICIANS HAVE WON HIGHER OFFICES WITH THE VOTES OF ILLEGALS.



“WE WILL TAKE CONTROL OF OUR COUNTRY (U.S.) BY VOTE IF POSSIBLE AND VIOLENCE IF NECESSARY!”

Agendas of MEChA, La Raza, MALDEF, and Southwest Voter Registration Projects These are transcripts of live, recorded statements by elected U.S. politicians, college professors, and pro-illegal alien activists whose objective is to take control of our country "by vote if possible and violence if necessary!" 1. Armando Navarro, Prof. Ethnic Studies, UC Riverside at Latino Summit Response to Prop 187, UC Riverside, 1/1995

"These are the critical years for us as a Latino community. We're in a state of transition. And that transformation is called 'the browning of America'. Latinos are now becoming the majority. Because I know that time and history is on the side of the Chicano/Latino community. It is changing in the future and in the present the balance of power of this nation. It's a game - it's a game of power - who controls it. You (to MEChA students) are like the generals that command armies. We're in a state of war. This Proposition 187 is a declaration of war against the Latino/Chicano community of this country. They know the demographics. They know that history and time is on our side. As one community, as one people, as one nation within a nation as the community that we are, the Chicano/Latino community of this nation. What this means is a transfer of power. It means control."



“THE NEW LEADERSHIP OF THE AMERICAS... IS MEXICAN!”

“REMEMBER: (PROPOSITION) 187 IS THE LAST GASP OF WHITE AMERICA IN CALIFORNIA!”



2. ART TORRES

Art Torres, former CA state senator, currently Chair of California Democrat Party at UC Riverside 1/1995 "Que viva la causa! It is an honor to be with the new leadership of the Americas, here meeting at UC Riverside. So with 187 on the ballot, what is it going to take for our people to vote - to see us walking into the gas ovens? It is electoral power that is going to make the determination of where we go as a community. And power is not given to you -- you have to take it. Remember: 187 is the last gasp of white America in California. Understand that. And people say to me on the Senate floor when I was in the Senate, 'Why do you fight so hard for affirmative action programs?' And I tell my white colleagues, 'because you're going to need them.'"



“WE ARE NOT IMMIGRANTS THAT CAME FROM ANOTHER COUNTRY TO ANOTHER COUNTRY....WE ARE FREE TO TRAVEL THE LENGTH AND BREADTH OF THE AMERICAS BECAUSE WE BELONG HERE.”



3. Jose Angel Gutierrez, Prof. Univ. Texas at Arlington, founder La Raza Unida Party at UC Riverside 1/1995 "The border remains a military zone. We remain a hunted people. Now you think you have a destiny to fulfill in the land that historically has been ours for forty thousand years. And we're a new Mestizo nation. And they want us to discuss civil rights. Civil rights. What law made by white men to oppress all of us of color, female and male. This is our homeland. We cannot - we will not- and we must not be made illegal in our own homeland. We are not immigrants that came from another country to another country. We are migrants, free to travel the length and breadth of the Americas because we belong here. We are millions. We just have to survive. We have an aging white America. They are not making babies. They are dying. It's a matter of time. The explosion is in our population."



“WE HAVE TO BAND TOGETHER, AND THAT MEANS LATINOS IN FLORIDA, CUBAN-AMERICANS, MEXICAN-AMERICAS, PUERTO RICANS, SOUTH AMERICANS, WE HAVE TO NETWORK BETTER......”

BILL RICHARDSON. WE ALL WERE WITNESS TO OBAMA, ALWAYS THE HISPANDERER, ATTEMPT TO PUT RICHARDSON IN HIS CABINET TO SIGNAL THE ILLEGALS THAT AMNESTY WAS COMING. LIKE MOST HISPANIC POLITICIANS, RICHARDSON WAS TOO CORRUPT TO PASS EVEN THE CORRUPT CONGRESS AND WITHDREW HIS NOMINATION.

4. Bill Richardson, New Mexico Governor, former U.S. Congressman, U.N. Ambassador, U.S. Secretary of Energy interviewed on radio Latino USA responding to Congressional Immigration Reform legislation in 1996 "There are changing political times where our basic foundations and programs are being attacked, illegal and legal immigration are being unfairly attacked. We have to band together, and that means Latinos in Florida, Cuban-Americans, Mexican-Americans, Puerto Ricans, South Americans, we have to network better - we have to be more politically minded, we have to put aside party and think of ourselves as Latinos, as Hispanics more than we have in the past."





“WE’RE GOING TO TAKE OVER ALL THE POLITICAL INSTITUTIONS IN CALIFORNIA. IN FIVE YEARS THE HISPANICS ARE GOING TO BE THE MAJORITY POPULATION OF THIS STATE.... ANYONE THAT DOESN’T LIKE IT SHOULD LEAVE IT!”, Mario Obledo,

Mario Obledo, founding member/former national director of Mexican-American Legal Defense and Educational Fund (MALDEF), former CA Secretary Health/Welfare on Tom Leikus radio talk show "We're going to take over all the political institutions in California. In five years the Hispanics are going to be the majority population of this state." Caller: "You also made the statement that California is going to become a Hispanic state and if anyone doesn't like it they should leave - did you say that?" Obledo: "I did. They ought to go back to Europe."



“WELCOME TO CALIFORNIA.. THE ILLEGAL IMMIGRATION STATE!”

6. Mario Obledo CCIR commentary on Mario Obledo: When CCIR, the California Coalition for Immigration Reform, erected a billboard on the California/Arizona border reading, "WELCOME TO CALIFORNIA, THE ILLEGAL IMMIGRATION STATE", Mario Obledo, infuriated, went to the billboard location and threatened to blow it up or burn it down. Even after this threat to deny American citizens their freedom of speech, President Clinton awarded Obledo the Presidential Medal of Freedom, America's highest civilian honor. CCIR question to Obledo: "Jose Angel Gutierrez said, 'We have an aging white America, they are dying, I love it.' How would you translate that statement?" Obledo: "He's a good friend of mine. A very smart person."



“THEY’RE AFRAID THAT WE’RE GOING TO TAKE OVER THE GOVERNMENT INSTITUTIONS AND OTHER INSTITUTIONS. THEY ARE RIGHT, WE WILL TAKE THEM OVER....”

7. Richard Alatorre, former Los Angeles City Councilman at Latino Summit conference in Los Angeles opposing CA Prop. 209 ending affirmative action in 9/1996 "Because our numbers are growing, they're afraid about this great mass of minorities that now live in our community. They're afraid that we're going to take over the governmental institutions and other institutions. They are right, we will take them over, and we are not going to go away - we are here to stay, and we are saying 'ya basta' (enough!) and we are going to turn... and de... not elect or re-elect people that believe that they are going to advance their political careers on the backs of immigrants and the backs of minorities."



MEXICAN SUPREMACIST LA RAZA PARTY REP. FROM INLAND EMPIRE WHERE HE WORKS HARD TO THE EXPANSION OF THE MEXICAN OCCUPATION AND WELFARE SYSTEM.





“THE LATINOS ARE COMING... THE LATINOS ARE COMING!!! AND THEY’RE GOING TO VOTE!”



8. Joe Baca, former CA Assemblymember, currently member of Congress at Latino Summit Response to Prop 187 UC Riverside 1/1995 and Southwest Voter Registration Project annual conference in Los Angeles, 6/1996 "We need more Latinos out there. We must stand up and be counted. We must be together, We must be united. Because if we're not united you know what's going to happen? We're like sticks - we're broken to pieces. Divided we're not together. But as a unit they can't break us. So we've got to come together, and if we're united, si se puede (it can be done) and we will make the changes that are necessary. But we've got to do it. We've got to stand together, and dammit, don't let them divide us because that's what they want to do, is to divide us. And once we're divided we're conquered. But when we look out at the audience and we see, you know, la familia, La Raza (the family, our race), you know, it's a great feeling, isn't it a good feeling? And you know, I started to think about that and it reminded me of a book that we all read and we all heard about, you know, Paul Revere, and when he was saying, 'The British are coming, the British are coming!' Well, the Latinos are coming, the Latinos are coming! And the Latinos are going to vote. So our voices will be heard. So that's what this agenda is about. It's about insuring that we increase our numbers. That we increase our numbers at every level. We talk about the Congressional, we talk about the Senate, we talk about board of supervisors, board of education, city councils, commissions, we have got to increase out numbers because the Latinos are coming. Because what's going on right now, with 187, the CCRI (CA Civil Rights Initiative against affirmative action), and let me tell you, we can't go back, you know, we're in a civil war. But we need to be solidified, we need to come together, we must be strong, because united we form a strong body. United we become solidified, united we make a difference, united we make the changes, united Latinos will win throughout California, let's stick together, que si se puede, que no? (it can be done, right?)



“IF THEY’RE SUPPORTING LEGISLATION THAT DENIES THE UNDOCUMENTED DRIVER’S LICENSE, THEY DON’T BELONG IN OFFICE, FRIENDS. THEY DON’T BELONG HERE!”

9. Antonio Villaraigosa, Chair of MEChA (student wing of Aztlan movement) at UCLA, former CA assemblymember, former CA Assembly speaker, currently Los Angeles City Mayor, and formerly Councilman at Southwest Voter Registration Project Conference in Los Angeles, 6/1997 "Part of today's reality has been propositions like 187 (to deny public benefits to illegal aliens, 1994), propositions like 209 (to abolish affirmative action, 1996), the welfare reform bill, which targeted legal immigrants and targeted us as a community. That's been the midnight. We know that the sunny side of midnight has been the election of a Latino speaker - was the election of Loretta Sanchez, against an arch-conservative, reactionary hate-mongering politician like Congressman Dornan! Today in California in the legislature, we're engaged in a great debate, where not only were we talking about denying education to the children of undocumented workers, but now we're talking about whether or not we should provide prenatal care to undocumented mothers. It's not enough to elect Latino leadership. If they're supporting legislation that denies the undocumented driver's licenses, they don't belong in office, friends. They don't belong here. If they can't stand up and say, 'You know what? I'm not ever going to support a policy that denies prenatal care to the children of undocumented mothers', they don't belong here."





GLORIA MOLINA, RACIST MEXICAN SUPREMACIST IS NOW ON THE LOS ANGELES COUNTY BOARD OF SUPERVISORS. A HUGE PORTION OF THE COUNTY’S REVENUES ARE PAID OUT TO ILLEGALS. LOS ANGELES COUNTY CALCULATES THAT THE TAX-FREE MEXICAN UNDERGROUND ECONOMY IS ABOUT $2 BILLION PER YEAR AND GROWING FAST.



“I’M GONNA GO OUT THERE AN VOTE BECAUSE I WANT TO PAY THEM BACK!”

10. Gloria Molina, one of the five in Los Angeles County Board of Supervisors at Southwest Voter Registration Project Conference, 6/1996 "This community is no longer going to stand for it. Because tonight we are organizing across this country in a single mission, in a plan. We are going to organize like we've never organized before. We are going to go into our neighborhoods. We are going to register voters. We are going to talk to all of those young people that need to become registered voters and go out to vote and we're are politicizing every single one of those new citizens that are becoming citizens of this country. And what we are saying is by November we will have one million additional Latino voters in this country, and we're gonna march, and our vote is going to be important. But I gotta tell you, there's a lot of people that are saying, 'I'm gonna go out there and vote because I want to pay them back!' And this November we are going to remember those that stood with us and we are also going to remember those that have stood against us on the issues of immigration, on the issues of education, on the issues of health care, on the issues of the minimum wage."



“LONG LIVE OUR RACE!”



11. Vicky Castro, former member of Los Angeles Board of Education at Southwest Voter Registration Project Conference, 6/1996 "Que viva la raza, que viva la raza (long live our race)! I'm here to welcome all the new voters of 18 years old that we're registering now in our schools. Welcome, you're going to make a difference for Los Angeles, for San Antonio, for New York, and I thank Southwest for taking that challenge. And to the Mechistas (MEChA students) across this nation, you're going to make that difference for us, too. But when we register one more million voters I will not be the only Latina on the Board of Education of Los Angeles. And let me tell you here, no one will dismantle bilingual education in the United States of America. No one will deny an education to any child, especially Latino children. As you know, in Los Angeles we make up 70% of this school district. Of 600,000 -- 400,000 are Latinos, and our parents are not heard and they're going to be heard because in Los Angeles, San Antonio and Texas we have just classified 53,000 new citizens in one year that are going to be felt in November!"



“I STARTED THIS VERY QUIETLY BECAUSE THERE ARE THOSE THAT IF THEY KNEW THAT WE WERE CREATING A WHOLE NEW CADRE OF BRAND NEW CITIZENS IT WOULD HAVE TREMENDOUS POLITICAL IMPACT.”



MEXICANOCCUPATION.blogspot.com

*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*

Report Illegals & Employers Toll Free... (866) 347-2423

INS National Customer Service Center Phone: 1-800-375-5283.

http://www.ice.gov/ ICE, ice, ICE

http://www.reportillegals.com/



*



http://www.FAIRUS.org



http://www.JUDICIALWATCH.org



http://www.ALIPAC.us



*

http://blogs.mcclatchydc.com/mexico/2011/01/getting-over-the-border-fence-fast.html



CONTACT THE HISPANDERING LA RAZA PARTY PRESIDENT HERE:



You can contact President Obama and let him know of your opposition to amnesty for illegal aliens:

http://www.whitehouse.gov/CONTACT/





“WE HAVE PROCESSED A LITTLE OVER 78,000 BRAND NEW CITZENS.”



12. Ruben Zacarias, former superintendent of Los Angeles Unified School District at Southwest Voter Registration Project Conference, 6/1997 "We have 27 centers now throughout LAUSD. Every one of them has trained people, clerks to take the fingerprints. Each one has the camera, that special camera. We have the application forms. And I'll tell you what we've done with I.N.S. Now we're even doing the testing that usually people had to go to INS to take, and pretty soon, hopefully, we'll do the final interviews in our schools. Incidentally, I started this very quietly because there are those that if they knew that we were creating a whole new cadre of brand new citizens it would have tremendous political impact. We will change the political panorama not only of L.A., but L.A. County and the State. And we do that we've changed the panorama of the nation. I'm proud to stand here and tell you that in those close to three years we have processed a little over 78,000 brand new citizens. That is the largest citizenship program in the entire nation."



“I HAVE PROUDLY AFFIRMED THAT THE MEXICAN NATIONAL EXTENDS BEYOND THE TERRITORY ENCLOSED BY ITS BORDERS....”



13. Ernesto Zedillo, former president of Mexico announcing the Mexican constitutional amendment allowing for dual citizenship on 6/23/97 "I have proudly affirmed that the Mexican national extends beyond the territory enclosed by its borders, and that Mexican migrants are an important - a very important part of it. For that reason my government proposed a constitutional amendment to allow any Mexican with the right as he desires to acquire another nationality to do so without being forced to first give up his or her Mexican nationality. Fortunately, the amendment was passed almost unanimously by our federal Congress and is now part of our constitution. I am also here today to tell you that we want you to take pride in what each and every one of your Mexican brothers and sisters are doing back home.



“WE’RE HERE... TO SHOW THE WHITE ANGLO-SAXON PROTESTANT L.A., THE FEW OF YOU WHO REMAIN, THAT WE ARE THE MAJORITY, AND WE CLAIM THIS LAND AS OURS, IT’S ALWAYS BEEN OURS, AND WE’RE STILL HERE, AND NONE OF THE TALK ABOUT DEPORTING. IF ANYONE’S GOING TO BE DEPORTED IT’S GOING TO BE YOU!”



“WE ARE THE MAJORITY IN L.A. THERE’S OVER SEVEN MILLION MEXICANS IN L.A. COUNTY ALONE.”

LA RAZA – “THE (MEXICAN) RACE”….

THE NATIONAL COUNCIL OF LA RAZA

1126 16th Street, N.W.

Washington, D.C.

202-785 1670

Get on La Raza’s email list to find out what this fascist party is doing to expand the Mexican occupation. NCLR.org

FOR THE EXPANSION OF THE MEXICAN WELFARE STATE, AND MEXICAN SUPREMACY

LA RAZA is the virulently racist political party for ILLEGALS (only Mexicans) and the corporations that benefit from illegals, and the employers of illegals. IT IS ILLEGAL TO HIRE AN ILLEGAL.

LA RAZA IS THE MEXICAN FASCIST PARTY of AMERICA and has contempt for AMERICANS, AMERICAN PEOPLE, AMERICAN LANGUAGE, AMERICAN BORDERS, AMERICAN FLAG

GIVE SOCIAL SECURITY TO ILLEGALS - Mexico Demands! THEY ALREADY HAVE MILLIONS OF STOLEN SOCIAL SECURITY NUMBERS ANYWAY!

MEXICANOCCUPATION.blogspot.com


*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*

TO INDUCE EVEN MORE ILLEGALS TO JUMP OUR BORDERS AND THEREFORE JOBS, THE LA RAZA DEMS, OBAMA, FEINSTEIN, PELOSI, WAXMAN, LOFGREN, AND THE LA RAZA FASCIST IN CONGRESS, Reps. Becerra, Sanchez Gang, Baca, Gutierrez PUSH FOR SSI TO ILLEGALS… EVEN AS THEY PLAN TO CUT IT FOR LEGALS TO PAY FOR OBAMA’S BANKSTER DONORS’ CRIMES ON WALL ST!





New projection shows Social Security funds drained by 2037

The Congressional Budget Office says the system will run deficits every year until it has no money. The struggling economy and baby boomer retirements are among the factors.

From the Associated Press

1:37 AM PST, January 27, 2011

WASHINGTON

Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.



New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.



This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.



The massive retirement program has been feeling the effects of a struggling economy for several years. The program first went into deficit last year, but the CBO said at the time that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.



The outlook, however, has grown bleaker as the nation struggles to recover from the worst economic crisis since Social Security was enacted during the Great Depression. In the short term, Social Security is suffering from a weak economy that has payroll taxes lagging and applications for benefits rising. In the long term, Social Security will be strained by the growing number of baby boomers retiring and applying for benefits.



The deficits add a sense of urgency to efforts to improve Social Security's finances. For much of the past 30 years, Social Security has run big surpluses, which the government has borrowed to spend on other programs. Now that Social Security is running deficits, the federal government will have to find money elsewhere to help pay for retirement, disability and survivor benefits.



"It means that Social Security is increasingly adding to our long-term fiscal problem, and it's happening now," said Eugene Steuerle, a former Treasury official who is now a fellow at the Urban Institute think tank.



It's a bad time for the nation to be hit with more financial problems. The federal budget deficit will surge to a record $1.5 trillion flood of red ink this year, congressional budget experts estimated Wednesday, blaming the slow economic recovery and a tax cut law enacted in December.



A debt commission appointed by President Barack Obama has recommended a series of changes to improve Social Security's finances, including a gradual increase in the full retirement age, lower cost-of-living increases and a gradual increase in the threshold on the amount of income subject to the Social Security payroll tax.



Obama, however, has not embraced any of the panel's recommendations. Instead, in his State of the Union speech this week, he called for unspecified bipartisan solutions to strengthen the program while protecting current retirees, future retirees and people with disabilities.



Senate Republican leader Mitch McConnell of Kentucky said he is ready to work with Obama on Social Security and other tough issues.



"I take the president at his word when he says he's eager to cooperate with us on doing all of it," McConnell said.



Social Security experts say news of permanent deficits should be a wake-up call for action.



"So long as Social Security was running surpluses, policymakers could put off the need to fix the program," said Andrew Biggs, a former deputy commissioner at the Social Security Administration who is now a resident scholar at the American Enterprise Institute. "Now that the system is running deficits, it simply becomes clear that we need to act on Social Security reform."



More than 54 million people receive retirement, disability or survivor benefits from Social Security. Monthly payments average $1,076.



The program has been supported by a 6.2 percent payroll tax paid by both workers and employers. In December, Congress passed a one-year tax cut for workers, to 4.2 percent. The lost revenue is to be repaid to Social Security from general revenue funds, meaning it will add to the growing national debt.



Social Security has built up a $2.5 trillion surplus since the retirement program was last overhauled in the 1980s. Benefits will be safe until that money runs out. That is projected to happen in 2037 -- unless Congress acts in the meantime. At that point, Social Security would collect enough in payroll taxes to pay out about 78 percent of benefits, according to the Social Security Administration.



The $2.5 trillion surplus, however, has been borrowed over the years by the federal government and spent on other programs. In return, the Treasury Department has issued bonds to Social Security, guaranteeing repayment with interest.



Social Security supporters are adamant that the program will be repaid, just as the U.S. government repays others who invest in U.S. Treasury bonds.



"It's an IOU that is backed by Treasury bonds and the faith and credit of the United States government," said Sen. Bernie Sanders, I-Vt. "It is the same faith and credit that enables us to borrow from rich people and from China and from other countries. As you well know, in the history of this country, the United States has never defaulted on one penny owed to a creditor."

*

MEXICANOCCUPATION.blogspot.com



MEXIFORNIA

CREATED BY LA RAZA BARBARA BOXER AND DIANNE FEINSTEIN… working hard to expand Mex supremacy every day!

California : Boxer (D) Feinstein (D)





senators who voted to give illegal aliens Social Security benefits

The following are the senators who voted to

give illegal aliens Social Security benefits.



They are grouped by home state. If a state is

not listed, there was no voting representative.



Alaska : Stevens (R)

Arizona : McCain (R)

Arkansas : Lincoln (D) Pryor (D)

*

California : Boxer (D) Feinstein (D)

*

Colorado : Salazar (D)

Connecticut : Dodd (D) Lieberman (D)

Delaware : Biden (D) Carper (D)

Florida : Martinez (R)

Hawaii : Akaka (D) Inouye (D)

Illinois : Durbin (D) Obama (D)

Indiana : Bayh (D) Lugar (R)

Iowa: Harkin (D)

Kansas : Brownback (R)

Louisiana: Landrieu (D)

Maryland : Mikulski (D) Sarbanes (D)

Massachusetts : Kennedy (D) Kerry (D)

Montana : Baucus (D)

Nebraska : Hagel (R)

Nevada : Reid (D)

New Jersey : Lautenberg (D) Menendez (D)

New Mexico : Bingaman (D)

New York : Clinton (D) Schumer (D)

North Dakota : Dorgan (D)

Ohio : DeWine (R) Voinovich(R)

Oregon : Wyden (D)

Pennsylvania : Specter (D)

Rhode Island : Chafee (R) Reed (D)

South Carolina : Graham (R) South Dakota : Johnson (D)

Vermont : Jeffords (I) Leahy (D)

Washington : Cantwell (D) Murray (D)

West Virginia : Rockefeller (D), by Not Voting

Wisconsin : Feingold (D) Kohl (D)



THE ENTIRE POPULATION OF THE UNITED STATES NEEDS

TO KNOW THIS INFORMATION.....



UNLESS THEY DON'T MIND SHARING THEIR SOCIAL

SECURITY WITH FOREIGN WORKERS THEY LET IN ILLEGALLY TO TAKE OUR JOBS, WELFARE AND FREE BIRTHING!

*

Those in favor of sending U.S. Social Security benefits to Mexican citizens argue that crushing poverty in Mexico demands some form of U.S. assistance to that country's aged. While poverty in Mexico truly is deplorable and saddening, the fact remains that Congress has no constitutional authority to enact what is essentially another foreign aid program.



*





Home » News

In 15 of Last 25 Months, Treasury Needed to Borrow Money to Pay Social Security Benefits

Wednesday, October 20, 2010

By Chris Johnson



Retired beer truck driver Frank Ferrira, 90, talks about social security on Thursday, Oct. 15, 2009 at a senior center in Pembroke Pines, Fla. (AP Photo/J Pat Carter)

(CNSNews.com) - The U.S. Treasury has needed to borrow money to pay Social Security benefits in 15 out of the last 25 months on record because the Social Security system was in deficit in those months, with the cost of monthly benefit payments exceeding the Social Security tax revenues flowing into the Old Age, Survivors and Disability Insurance trust funds, according to data published by the Social Security Administration.

Because the overall federal budget was in deficit during this entire period, the surplus revenues Social Security earned in the remaining 10 months of the last 25 was used during those months to pay ongoing general government expenses and was not saved to pay future Social Security benefits.

The government gave the Social Security trust funds IOUs for this money.





Prior to August 2008, the Social Security system usually—but not always—ran monthly surpluses, and surplus Social Security taxes were always used by the government to cover deficits in the general federal budget with a promise by the Treasury to eventually pay the money back to the Social Security trust fund when the funds were needed to cover anticipated shortfalls in Social Security revenue. Surplus Social Security tax revenue was never actually set aside to cover these anticipated deficits in Social Security. It was always immediately spent.

In August, the latest month on record, the Social Security system was $8.621 billion in the red, according to the Social Security Administration. That was the fifteenth month since August 2008 in which the system posted a monthly deficit. Back in August 2008, the Social Security system dipped into deficit by $118 million.

For more than decade prior to August 2008, however, the Social Security system ran up an unbroken string of monthly surpluses. The last time before August 2008 that the system posted a deficit in any given month was November 1997, when it ran a $154 million deficit. November was the only month in 1997 that the Social Security system ran a deficit.

In the 259 months from January 1987 to August 2010, according to data published by the Social Security Adminisrtation, Social Security ran deficits in 22 months, or about 8 percent of the time. In the 25 months since August 2008, Social Security has run deficits 60 percent of the time.

In a summary of their annual report released in August, the Social Security trustees predicted that the Social Security system would run an annual deficit in 2010 for the first time since 1983, and that it would also run an annual deficit in 2011. After that, the trustees predicted, Social Security would run “small surpluses” in 2012, 2013 and 2014, and then, barring changes in the system, lurch permanently into the red as the bulk of the Baby Boom moved into retirement and began collecting benefits.

“Social Security expenditures are expected to exceed tax receipts this year for the first time since 1983,” said the trustees.

“The projected deficit of $41 billion this year (excluding interest income) is attributable to the recession and to an expected $25 billion downward adjustment to 2010 income that corrects for excess payroll tax revenue credited to the trust funds in earlier years," the trustees said. "This deficit is expected to shrink substantially for 2011 and to return to small surpluses for years 2012-2014 due to the improving economy. After 2014 deficits are expected to grow rapidly as the baby boom generation’s retirement causes the number of beneficiaries to grow substantially more rapidly than the number of covered workers.”

Mark Lassiter, a spokesman for the Social Security Administration, told CNSNews.com that the recent shortfall was “due, in part, to more beneficiaries coming onto the rolls than originally anticipated due to the economic downturn.”

“There is no significant distinction between OASI and DI in terms of the additional beneficiaries. But the bigger impact is less revenue coming into the system than anticipated due to unemployment,” he said.



*

CUT SSI FOR LEGALS, BUT ADD THE ILLEGALS! NO WONDER THE MEXICAN ARE OUT THERE WAVING THEIR MEX FLAGS IN OUR FACES! THE POLITICIANS THEY ELECTED WORK HARDER FOR LA RAZA ‘THE RACE” THAN THEY EVER WOULD US, THAT IS UNLESS YOU’RE A BANKSTER!

*

Social Security cuts are part of deficit plan

By ANDREW TAYLOR, Associated Press 48 mins ago

WASHINGTON – Divisions remain within President Barack Obama's deficit commission on politically explosive budget cuts and slashes in Social Security benefits, even as the panel's co-chairmen go public with a revised plan to tame the runaway national debt.

The new plan by co-chairmen Erskine Bowles and Alan Simpson, to be unveiled Wednesday, faces an uphill slog. Resistance is certain, not only because of the idea of raising the Social Security retirement age, but also because of proposed cuts to Medicare, curtailment of tax breaks and a doubling of the federal tax on a gallon of gasoline.

Though the plan appears unlikely to win enough bipartisan support from the panel to be approved for a vote in Congress this year or next, Bowles has already declared victory, saying he and Simpson have at least succeeded in initiating an "adult conversation" in the country about the pain it will take to cut the deficit.

The plan faces opposition from many commission members. House Republicans appear uniformly against tax increases, while liberal Democrats like Jan Schakowsky of Illinois appear unlikely to be able to accept big cuts in federal programs for seniors.

Obama named the commission in hopes of bringing a deficit-fighting plan up for a vote in Congress this year, but it appears to be falling well short of the 14-vote bipartisan supermajority needed.

A new version of the plan, obtained by The Associated Press on Tuesday, makes mostly minor changes to a draft that whipped up enormous controversy when unveiled earlier this month. Some domestic spending cuts are modestly higher than previously proposed, and health care savings from overhauling the medical malpractice system would reap less than proposed earlier this month.

Unlike their original proposal, Bowles and Simpson stop short of calling for caps on medical malpractice awards. Instead they recommend changes in how awards are made.

But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.

The plan also retains a 15-cent-a-gallon increase on gasoline, a three-year freeze on federal worker pay and the elimination of 200,000 workers from the federal payroll through attrition.

The proposal obtained by the AP was a draft that was still undergoing changes Tuesday evening.

Other recommendations:

• Eliminate congressional pet spending projects known as "earmarks."

• Reduce the corporate income tax rate to 28 percent from 35 percent and stop taxing the overseas profits of U.S.-based multinational corporations.

• Overhaul individual income taxes and corporate taxes, giving Congress the choice of reducing the top rate to as low as 23 percent and no higher than 29 percent. The lower the rate, the fewer the tax credits and deductions that would be available to taxpayers.

Under one scenario proposed by Bowles and Simpson, taxpayers would face three tax brackets of 12 percent, 21 percent and 28 percent. Taxpayers would still be able to claim an earned income tax credit and child tax credit as well as all standard deductions and exemptions. Capital gains and dividends would be taxed at ordinary income tax rates. Taxpayers could claim a mortgage interest deduction up to $500,000, but only on their primary residence.

If Congress does not undertake a comprehensive overhaul of the tax system by 2013, the plan calls for a "fail-safe" provision that would trigger across-the-board reductions in tax breaks, designed to raise revenue by $80 billion in 2015 and $180 billion in 2020.

Bowles was White House chief of staff when former President Bill Clinton negotiated a balanced budget plan in 1997; Simpson is a former GOP senator from Wyoming.

Only Bowles and Simpson are guaranteed to support the plan when the panel votes. None of the 12 House members and senators named by Obama have committed to the proposals, though Bowles and Simpson could pick up support from nonelected deficit hawks like Democrat Alice Rivlin and Honeywell International's chief executive, David Cote, a Republican, who won't have to defend themselves to voters. Republican senators seem more likely to vote for the plan than their rigidly anti-tax increase House counterparts.

"I don't know if we're going to get two votes or five votes or 10 votes or 14 votes," Bowles told reporters. "There are enough reasons to vote `no' in this plan for anybody to vote `no.'"

A supermajority of 14 of the 18 panel members would have to approve recommendations for a possible vote in the lame-duck session of Congress. That seems out of reach, but Bowles says it's just as important to have jump-started a national debate on what it'll really take to bring the deficit under control.

"Our goal in this whole process has been really simple," Bowles said. "It's basically been to start an adult conversation here in Washington about the dangers of this debt and the deficits we are running."

He added, "The era of deficit denial in Washington is over."

*

MEXICANOCCUPATION.blogspot.com

*

Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.



*