Posts Tagged ‘recovery



31
Jul
13

Rise and Shine

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Today (all times Eastern)

10:10: The President meets with the House Democratic Caucus, United States Capitol

11:25: Meets with the Senate Democratic Caucus, United States Capitol

(C-Span have live coverage listed for 11:15, but the meetings are closed so they’ll probably just show statements after)

2:10: President Obama welcomes the NCAA Champion UConn Huskies to honor the team and their 2013 NCAA Women’s Basketball Championship

3:0 Congressional leaders join together for a ceremony to commemorate the 50th anniversary of the 1963 March on Washington for Jobs and Freedom (C-Span 3)

4:30: The President and VP Biden meet with Secretary of the Treasury Lew

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Steve Benen: Economic growth exceeds expectations

Going into this morning, expectations for economic growth in the second quarter — April, May, and June of this year — were quite poor, making the actual GDP report a little more encouraging.

The U.S. economy grew at a 1.7% annual rate in the second quarter, buoyed by a solid gain in consumer spending and a sharp increase in business investment, the Commerce Department said Wednesday. Economists polled by MarketWatch had expected growth to total 1.0%.

To be sure, 1.7% GDP growth is not, by any fair measure, good news. It tells us the economy is growing, but the recovery is at best sluggish. But given the news we were expecting, 1.7% is a relatively pleasant surprise, especially since the previous quarter’s growth was revised down to 1.1%.

More here

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Bloomberg: Economy in U.S. Expands More Than Forecast on Inventories

The economy in the U.S. grew more than projected in the second quarter, reflecting an unexpected pickup in inventory building as consumer spending cooled. Growth in the previous three months was revised down.

Gross domestic product, the value of all goods and services produced, rose at a 1.7 percent annualized rate, after a 1.1 percent gain the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 85 economists surveyed by Bloomberg called for a 1 percent advance for last quarter. Consumer spending, the biggest part of the economy, climbed 1.8 percent after increasing 2.3 percent.

Job gains and rising home prices are shoring up Americans’ confidence and lifting automobile sales and production, making it likely the U.S. will pick up once government spending cuts and tax increases pose less of a restraint. The report also showed inflation is falling further below the Federal Reserve’s goal….

More here

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Steve Benen: Reality gets in the way of far-right shutdown scheme

As a large group of Republicans push for a government shutdown over the Affordable Care Act, Norm Ornstein offered some compelling context. “You could say it’s a do-nothing Congress but that doesn’t do justice to it,” he said. “These guys are doing something, which is to destroy the economic fabric of the country by holding the functions of government hostage to a non-negotiable demand to eliminate Obamacare.”

That’s plainly true, though Sen. Ted Cruz (R-Texas), arguably the main ringleader of the scheme, apparently believes destroying the economic fabric of the country by holding the functions of government hostage to a non-negotiable demand to eliminate Obamacare is a fine idea. As Sarah Kliff reported, however, there is a flaw in the right-wing premise…..

More here

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Steve Benen: ATF finally poised to move forward with real leadership

Ask conservative opponents of gun reforms what they’d like to see from law enforcement, and you’ll probably get a predictable answer: we should enforce the gun laws we already have, not approve new ones. For the last several years, however, that’s been easier said than done.

Enforcement of existing gun laws generally falls under the purview of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), which has lacked a permanent, Senate-confirmed leader for the last seven years, thanks to opposition from Republicans and the National Rifle Association, both of which have reflexively balked at the very idea of an ATF chief.

With this in mind, we may be poised for a breakthrough this week….

More here

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ThinkProgress: Texas Lawmakers Are Too Busy Focusing On Abortion Restrictions To Get Anything Else Done

Just over an hour after Texas legislators concluded their second special session — an extra lawmaking session they used to enact sweeping abortion restrictions — Gov. Rick Perry (R) called them back for a third one. An outstanding highway funding bill is the only item on the agenda. “When it comes to transportation, the stakes facing our state could not be higher,” the governor noted in a statement.

Perry cited that same transportation measure as one of the reasons he believed it was necessary to call the first special legislative session at the beginning of June. But instead of focusing on getting that done, the governor demonstrated a different set of priorities — adding a slew of anti-abortion provisions that were unable to advance during the state’s regular session to the docket.

More here

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Bob Cesca: Bradley Manning Lives in a Nation of Laws, and, Hero or Not, He Broke 16 of Those Laws

While fleeing from the law in Hong Kong, Edward Snowden encouraged a return to “the rule of law rather than men.” In spite of his politically incorrect usage of “men” instead of “men and women,” he’s right. Generally speaking, individual citizens shouldn’t be held above the law — least of all a soldier named Pfc. Bradley Manning who stole 720,000 classified documents and handed them over to be be indiscriminately posted for public consumption by Julian Assange’s Wikileaks.

More here

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Two years ago today:

President Barack Obama and Vice President Joe Biden shake hands in the Oval Office following a phone call with House Speaker John Boehner securing a bipartisan deal to reduce the nation’s deficit and avoid default, Sunday, July 31, 2011. (Photo by Pete Souza)

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MoooOOOooorning!

22
Jul
13

Rise and Shine

A year ago: “The President hugs Stephanie Davies, who helped her friend, Allie Young, left, stay alive after she was shot during the movie theater shootings in Aurora, Colo. The President visited patients and family members affected by the shootings at the University of Colorado Hospital. Photo by Pete Souza, July 22, 2012

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The Week Ahead:

Today:

3:0: The President meets with Secretary of State Kerry

7:25: Delivers remarks at an Organizing for Action event, Mandarin Oriental Hotel, Washington, DC (Open Press)

8:10: Delivers remarks and answers questions at an Organizing for Action dinner, Mandarin Oriental Hotel (Print Pool for Remarks Only)

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Tuesday: The President will welcome NCAA Champion Louisville Cardinals to the White House to honor the team and their 2013 NCAA Men’s Basketball Championship

Wednesday: He will travel to Galesburg, Illinois and Warrensburg, Missouri for events on the economy

Thursday: He will welcome President Truong Tan Sang of Vietnam to the White House. In the afternoon, the President will travel to Jacksonville, Florida for an event on the economy. On Thursday evening, he will host an Iftar dinner celebrating Ramadan at the White House

Friday: The President will attend meetings at the White House.

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Time: Drawing renewed attention to the economy, President Barack Obama will return this week to an Illinois college where he once spelled out a vision for an expanded and strengthened middle class as a freshman U.S. senator, long before the Great Recession would test his presidency.

The address Wednesday at Knox College in Galesburg, Ill., will be the first in a new series of economic speeches that White House aides say Obama intends to deliver over the next several weeks ahead of key budget deadlines in the fall. A new fiscal year begins in October, and the government will soon hit its borrowing limit.

…. The president will also speak Wednesday at the University of Central Missouri in Warrensburg, Mo.

More here – and more at the NYT

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AP: Survey: Brighter U.S. Economic Outlook Boosts Hiring

Companies are increasingly confident the economy will grow at a modest pace over the next year and are hiring more, according to a survey of business economists.

Nearly one-third of the economists surveyed said their companies added jobs in the April-June quarter …. That’s the highest percentage in nearly two years. And 39 percent expect their firms will hire more in the next six months. That’s near the two-year high of 40 percent reached in the January-March quarter.

…. Optimism about future economic growth increased. Nearly three-quarters of the survey respondents forecast growth of 2.1 percent or more over the next 12 months. That’s up from two-thirds in the first quarter survey, released in April, and the most in a year.

More here

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OFA

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ThinkProgress: No, Obamacare Won’t Raise Insurance Premiums In Indiana By 72 Percent

On Friday, the Indiana Department of Insurance announced that initial rates submitted by individual health plan providers for the state’s Obamacare insurance marketplace would cost 72 percent more than currently available plans …. Gov. Mike Pence’s (R) administration was quick to use the figures to criticize the health law….

The problem is, the Department of Insurance didn’t really release “data” in the plural — it released a single data point. The $570 per month figure is the average of all of the submitted rates, including cheaper plans with less benefits (so-called “Bronze” and “Silver” level plans) as well as the more generous and expensive “Gold” and “Platinum” level plans. That’s like saying the average cost of a car in an Indiana dealership is $100,000 because it sells $20,000 Fords, $60,000 BMWs, and $220,000 Lamborghinis — technically true, but highly misleading.

More here

And see Jonathan Cohn – ‘Hoosier Hustle? Another Dubious Attack on Obamacare’

Also too – ThinkProgress: Tea Party Senator Concedes Defeat: We Won’t Be Able To Fully Repeal Obamacare

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USA Today: Vice President Biden is off on a six-day trade and diplomatic trip to India and Singapore.

…. The vice president and his wife Dr Jill Biden land Monday in New Dehli; they will travel to Mumbai later this week …. they arrive Thursday in Singapore…

… The Bidens will stop in Hawaii on their way back to the United States; they return to Washington on Sunday.

More here

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Continue reading ‘Rise and Shine’

18
Jul
13

Rise and Shine

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First Lady Michelle Obama talks with children attending Camp Noah as they make trail mix at the McAlpine Park Recreation Center in Birmingham, Ala., July 18, 2012 (Photo by Chuck Kennedy)

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Presidential Daily Schedule (All Times Eastern)

11:25: The President delivers a statement on the Affordable Care Act

12:25: First Lady Michelle Obama, Rahm Emanuel and Amy Rule visit Urban Alliance Chicago

3:0: The President participates in an Ambassador Credentialing Ceremony (closed press)

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Steve Benen: Jobless claims show sharp improvement, reach three-month low

Last week’s report on initial unemployment claims was unexpectedly discouraging, making the good news this morning that more reassuring.

The number of people who applied for regular state unemployment-insurance benefits dropped 24,000 to 334,000 in the week that ended July 13, hitting the lowest level of new claims since early May, signaling a slower pace of layoffs, the U.S. Department of Labor reported Thursday. Economists polled by MarketWatch had expected initial claims to fall to 341,000 from an original estimate of 360,000 in the prior week. However, it’s difficult to precisely measure claims this month because of distortions from events such as annual auto plant shutdowns and the July 4 holiday, they said…. The four-week average of initial claims, a less volatile gauge, declined 5,250 to 346,000.

More here

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Philip Bump: Those of you who are old enough may remember a time when Barack Obama was plagued with scandal. “Scandal politics sweep Capitol Hill,” Politico yelped. The suffix “-gate” was added to various words. So what happened to the scandals? For the most part, they’ve been hollowed out. The scandal: Benghazi. What it was: The death of four Americans at a diplomatic (read: CIA) outpost in the Libyan city of Benghazi last September 11th bubbled for a while. The release of emails suggesting a cover-up kicked conspiracy theories into high gear.

How real it was in the first place: Not very. Current status: Last rites administered Those emails reported by ABC News were only part of the story. The White House released the full email chain, making it clear that the administration’s involvement in drafting a set of post-attack talking points wasn’t what opponents suggested. (We even declared the scandal dead the same week.)

More here

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President Barack Obama meets with senior advisors in the Oval Office before a phone call with President Vladimir Putin of Russia, July 18, 2012. Pictured, from left, are: Chris Mizelle, Director for Russia and Central Asia, NSS; National Security Advisor Tom Donilon; Chief of Staff Jack Lew; and Denis McDonough, Deputy National Security Advisor. (Official White House Photo by Pete Souza)

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Paul Krugman: Obamacare Is the Right’s Worst Nightmare

News from New York: it looks as if insurance premiums on the individual market are going to plunge thanks to Obamacare. This shouldn’t come as a surprise; in fact, the New York experience perfectly illustrates why Obamacare had to look the way it does. And it also illustrates why conservatives should be terrified about this legislation, as it takes effect. Americans may have had a lot of misgivings in advance, thanks to vast, deliberately spread misinformation. But I agree with Matt Yglesias — unless the GOP finds even more ways to sabotage the plan, this thing is going to work, it’s going to be extremely popular, and it’s going to wreak havoc with conservative ideology.

Conservatives are right to be hysterical about this: it’s an attack on everything they believe — and it’s going to make Americans’ lives better. What could be worse?

Full post here

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Abby Ohlheiser: House Republicans followed up on the Obama administration’s decision to delay the implementation of the employer mandate for one year by voting to make that decision a law, and to extend that delay to all individuals, too. It’s a more limited protest vote than what we’re used to seeing from the House GOP on Obamacare: There have been 38 legislative attempts to revoke either all or part of the health care reform law since 2011.

On Wednesday, both votes to delay passed easily: 264 – 161 for the employer mandate, and 251 – 174 for the individual mandate. They will not become law: President Obama would veto both bills if they made it to his desk.

More here

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Sen. Elizabeth Warren embraces Richard Cordray following a statement by President Barack Obama on Cordray’s confirmation as director of the Consumer Financial Protection Bureau, July 17

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Happy 95th Birthday Nelson Mandela!

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Continue reading ‘Rise and Shine’

06
Jul
13

Rise and Shine

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President Barack Obama shoots baskets on the White House basketball court with Justin Friedlander and his family, July 6, 2010. Friedlander, who was diagnosed with an inoperable brain tumor in March, 2009, has launched an initiative called “Justin’s Quest,” in which he will shoot 63,000 basketball shots, one for every person diagnosed with a primary brain tumor each year in the United States. (Official White House Photo by Pete Souza)

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ThinkProgress: While the unemployment rate for all veterans fell below the national unemployment rate months ago, one group of veterans — those who have served since September 11, 2001 in Iraq and Afghanistan — continued to lag behind as the rest of the job market recovered. But in the last few months, the unemployment rate for so-called Gulf War II era veterans —defined by the BLS as those who served in the Armed Forces sometime since September 2001 and have since returned to civilian life — has steadily declined, even eventually dipping below the national unemployment rate for the first time since February 2012. That trend continued on Friday, when the Bureau of Labor Statistics released its June jobs report showing that the unemployment rate for this newest group of veterans fell to just 7.2 percent last month, its lowest level ever since the BLS regularly began tracking veterans’ unemployment rates in 2009. June also marks the fifth consecutive month in which the unemployment rate for new veterans has fallen.

The unemployment rate for veterans overall still remains lower than the national average, at just 6.3 percent. A coalition of businesses and officials in the Obama administration have placed a premium on the hiring of veterans. Legislation like the VOW to Hire Heroes Act of 2011 offer businesses tax credits for each veteran a company hires and strengthens federal transition assistance programs, while companies like Tesla Motors, Southwest Airlines and JPMorgan Chase have been commended by veterans groups like the Iraq and Afghanistan Veterans of America (IAVA) for their commitment towards the hiring of returning veterans.

First Lady Michelle Obama has also made a big effort to help transition veterans into civilian jobs upon their return, most recently with the announcement of a new credentialing program that aims to help veterans acquire the necessary civilian certification for jobs in the IT industry.

More here

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Bryce Covert: Rhode Island state House voted 53-18 to pass a bill that would allow workers to take paid time off to care for a new child or a sick or injured family member. The Senate had previously passed the bill, but due to a technical change in the House version it headed back for a final vote in the Senate. That vote will send it to Gov. Lincoln Chafee’s (D) desk, who activists expect will sign it into law.

 The bill expands the state’s current Temporary Disability Insurance (TDI) program, which currently only covers those who need time off for a work-related illness or injury, to cover those who need family leave. Temporary Caregiver Insurance (TCI) will allow workers to pay into the program through a payroll deduction and then, starting January 2014, take up to four weeks of paid leave, which would rise to six weeks the year after and eight weeks by 2016. Paying into the program would cost someone making $43,000 a year 83 cents a week. The minimum weekly payment for the TDI program is currently $72 and the maximum is $752. It would cover nearly 80 percent of the state’s workforce. California and New Jersey are the only other two states that have programs similar to this one, which allow employees to pay into paid leave insurance. Connecticut also took a step toward creating such a program recently by setting up a task force to study the feasibility.

More here

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Bryce Covert: All but 12 House Republicans voted for the Pain-Capable Unborn Child Protection Act two weeks ago, which would ban abortions in the country 20 weeks after fertilization. But for the party of supposed fiscal restraint, such a move comes with a cost. The Congressional Budget Office (CBO) scored the bill last week and found that it would increase government spending and deficits. This should surprise no one, however. Reducing access to women’s reproductive choices comes with a high price tag for taxpayers. In scoring the House bill, the CBO said, “Depending on the number of additional births under H.R. 1797, such Medicaid costs could range from about $75 million over the next 10 years to more than $400 million over that period.” The bill would increase the deficit by $75 million between 2014 and 2018 and by $225 million from 2014 to 2023. These costs are thanks to the fact that 40 percent of all births are paid for by Medicaid and additional births will drive up those costs.

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Texas, however, should know that cutting off reproductive choices can drive up the government’s costs. In 2011, state legislators slashed funding for family planning services by $73 million in an attempt to deny Planned Parenthood taxpayer dollars because it provides abortions, despite the fact that the clinics that receive state subsidies didn’t provide the service. Denying low-income women access to family planning services was going to mean the delivery of 24,000 babies that they wouldn’t otherwise have had, which were going to cost Texans as much as $273 million thanks to medical expenses and covering their infants under Medicaid. After staring down those numbers, Texas lawmakers on both sides of the aisle have started working to reinstate the funds.

More here

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Guests take pictures as President Barack Obama signs HR 4348, the Transportation and Student Loan Interest Rate bill, during a ceremony in the East Room of the White House, July 6, 2012. (Official White House Photo by Pete Souza)

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Jamelle Bouie: Today’s story from the New York Times on IRS “filtering” should be the final word on whether this was political targeting or a more mundane instance of mistakes and misjudgments from overworked bureaucrats. Of the nearly 200,000 applications for tax-exempt status the IRS received between 2010 and 2012, it flagged 22,000 for further review. Of those, just 296 came from partisan political groups. In other words, notes the Times, “most of the applications pulled aside for further scrutiny in those years had nothing to do with politics, conservative or liberal, just as most of the red flags thrown up by the I.R.S.’s lookout lists were not overtly political.”

What were some of the other groups flagged by the IRS? “Medical marijuana purveyors, organizations formed to carry out President Obama’s health care law, and open source software developers who create software tools for computer code writers and distribute them free of charge.” Unless Republicans can prove that the White House has it out for open-source developers as well as tea party activists, it’s hard to see how they continue to stand by their claims.

More here

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President Barack Obama listens during a communications planning meeting in the Roosevelt Room of the White House, July 6, 2010. (Official White House Photo by Pete Souza)

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Neil Irwin: Usually, we are among the first to insist that the monthly jobs report matters not for the wild swings it can create on financial markets but for what it tells us about the state of the U.S. economy and the employment and earnings prospects of our 300 million fellow citizens. Not today. The jobs numbers were pretty good: The nation added 195,000 positions in June, and job creation was significantly stronger than it seemed in April and May. The unemployment rate was unchanged, but more people joined the workforce. All in all, things seem to be getting better, and maybe getting better more quickly than it had seemed 24 hours ago.

More here

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Tom Kludt: The 7-year-old Virginia boy who was struck by a stray bullet while on his way to watch a Fourth of July fireworks display died Friday, according to Richmond-based NBC affiliate WWBT. Police said the accident was likely the result of someone firing a gun in the air to celebrate the holiday. It is still unknown who fired the shot.

The boy and his father were walking to watch a fireworks show in Brandermill, Va. when the youngster fell behind before suddenly dropping to the ground. His father thought his son had passed out until he noticed the bullet wound on top the boy’s head. The boy died at Virginia Commonwealth University Medical Center in Richmond, Va.

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Zoe Schlanger: A South Dakota man fell asleep on his back porch while holding a loaded handgun, and accidentally shot himself in the midsection when a relative turned on the porch light, the Daily Republic reported.

The 34-year-old man suffered minor flesh wounds and was able to transport himself to the hospital.

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TPM: Baltimore man Lassiter Basket, 82, was careful to use blanks and shoot indoors when he fired his handgun to celebrate the Fourth of July, the Baltimore Sun reported. Fragments of a blank moved through his great-granddaughter’s bedroom wall, and burned into her wrists and leg.

More here

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LOLGOP: As some debate whether this country has become more like George Orwell’s 1984 of Aldous Huxley’s Brave New World, keep in mind that for millions of Americans who have no time to debate such a lofty question, actual oppression exists. This oppression isn’t a overwhelming fear of a the Thought Police or even a steady drugging that manufactures consent. It isn’t theoretical or some slippery slope that slowly envelops true liberty. It’s a never-ending concern about survival and sustenance. It’s a need to keep children fed, clothed and well. It’s knowing that disaster lurks every time your boss is unhappy with you.

The dystopian future we may fear already exists for millions. If you’re expecting fascism to come with a cross and a flag, you’re immune — due to over or underexposure — to the actual economic feudalism that has always trapped the working poor in the country. It’s called wage slavery. The easiest way to trap someone into a life of wage slavery is deny them education and have them start a family before they can afford it. Texas Republicans have this formula for a lifetime of poverty worked out to a science.

The Texas GOP’s jihad against family planning and Planned Parenthood creates unintended pregnancies and leaves poor women with no options. This creates generational poverty and a low-wage workforce with no time to consider how the petrol-funded theocracy of the Lone Star state is designed to make the rich richer and workers less safe and more dependent on the corporations that have indentured them.

 More here

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President Barack Obama shares his strawberry pie with a boy during a lunch stop at Kozy Corners restaurant in Oak Harbor, Ohio. (Official White House Photo by Pete Souza)

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Christopher S. Rugaber: U.S. employers added a robust 195,000 jobs in June and many more in April and May than previously thought. The job growth raises hopes for a stronger economy in the second half of 2013. The unemployment rate remained 7.6 percent. That was because more people started looking for work in June — a healthy sign. Once people without jobs start looking for one, the government counts them as unemployed. Pay also rose sharply in June, the Labor Department’s monthly jobs report Friday showed. Pay has now outpaced inflation over the past year.

Stock index futures rose shortly after the report was released at 8:30 a.m. EDT. And the yield on the 10-year Treasury note jumped from 2.56 percent to 2.65 percent, a sign that investors think the economy is improving. Friday’s report showed that the economy added 70,000 more jobs in April and May than the government had previously estimated — 50,000 in April and 20,000 in May. Average hourly pay rose 10 cents to $24.01, 2.2 percent higher than a year ago. The hotels, restaurants and entertainment industry added 75,000 jobs last month. Retailers added 37,000. Temporary jobs rose 10,000. Manufacturing shed 6,000 jobs. But construction added 13,000, and health care gained 20,000.

Auto sales in the January-June period topped 7.8 million, their best first half since 2007, according to Autodata Corp. and Ward’s AutoInfoBank. Sales of previously occupied homes exceeded 5 million in May, the first time that’s happened since November 2009. New-home sales rose at their fastest pace in five years.

More here

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First Lady Michelle Obama huddles with children during a Joining Forces event with military families at Nationals Park in Washington, D.C. (Official White House Photo by Samantha Appleton)

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President Barack Obama gets a hug from a little girl as he greets Wounded Warriors and their families in the State Dining Room of the White House. (Official White House Photo by Pete Souza)

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Have A Frank Lampard Winning Streak Day! :D

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