From daily News Line in Britain:
Thursday, 4 August 2011
… THE National Committee to Preserve Social Security and Medicare says the following about Obama’s debt deal that savages the poor and leaves the rich well alone.
‘For too long, middle-class Americans and their families have been held hostage while anti-tax crusaders threaten American default unless vital programmes, like Social Security and Medicare, are slashed.
‘Unfortunately under this debt deal, those programmes will still be under attack – this time by a newly-created ‘Super Committee’ of just 12 members of Congress tasked to cut programmes by $1.5 trillion dollars. This committee plan will be fast-tracked to force it through Congress with no amendments allowed and little time for debate.
‘Americans of all ages and political persuasions know that Social Security and Medicare have not caused this economic crisis and do not support cutting these programmes to pay down the debt. Yet, Washington continues to use these vital programmes, and the Americans they serve, as bargaining chips in a quest to balance the budget on the backs of working class Americans and their families.
‘Our work is clearly cut out for us. The House Speaker has said he will appoint only ‘Super Committee’ members opposed to revenue increases. Leaving the debate right where we started . . . 100% benefit cuts and 0% revenue . . . except this time, the proposal will bypass the normal Congressional process. That makes it even easier to force middle-class benefit cuts to pay for billionaire tax breaks and corporate loopholes. This is no way to run a country. And the over three million members and supporters of the National Committee will continue to deliver that message loud and clear . . .’
The verdict of international capital on the deal was a huge sell-off of shares, and yet another increase in the price of gold, now above $1,664 an ounce, as banks and other lenders trembled at the further weakening of the US dollar, and that its interpenetrating with the financial crisis of the eurozone, could only lead to a greater financial disaster and a worldwide slump.
The federal budget deal targets critical social programs that are already under duress at the state level: here.
Women are hurt most by debt deal cuts to Medicare, Social Security, tuition aid: here.
Also from News Line:
Thursday, 4 August 2011
US WORKERS TAKE ACTION
JUST one day before Democrats and Republicans were set to forge a trillion dollar debt deal that would impose savage cuts on the American working class, US workers took decisive strike action to defend their living standards.
Licensed deck and engineering officers and stewards represented by American Maritime Officers (AMO) walked off American Steamship Company (ASC) vessels on Monday.
The strike came after AMO’s contract with the company expired at midnight July 31.
‘This strike is the result of American Steamship’s Company refusal to negotiate in good faith, or even present a proposal that recognises the professionalism of the AMO officers and stewards and their value to a company that operates very profitably with AMO on board its ships,’ said AMO National President Tom Bethel.
Interest rates were held at a record low of 0.5 per cent today amid growing fears that the world economy is heading back into recession: here.
USA: From Jesus’ socialism to capitalistic Christianity: here.
Morgan Freeman: Tea Party’s disdain for Obama rooted in racism: here.