President Obama takes a straightforward approach to personal finances. Image: Muhammed/Ficker/CC BY

President Obama dropped in on the White House Personal Finance Summit Wednesday to give his opinion on a variety of budget related issues. He seemed a bit blind-sided when asked by Meg Marco, of the Consumerist, how he handles his own finances. After a brief pause, he answered, “don’t spend all your money.”

Saving some of what you earn

“My grandmother worked her way up from being a secretary to a vice president of a regional bank,” Obama told the small group of writers. “She was from Kansas, and she had a very straightforward view, which was save a little bit of what you’re earning and the magic of compound interest applies.”

College debts

“That is something Michelle and I have tried to apply, not always successfully,” the president said. “I’m very sympathetic to what young people are going through today, because Michelle and I graduated from law school with combined debt of $120,000, and it took us 10 years to pay off.”

Spending discipline

Obama said in the current economy, young people often are forced to deal with the “quadruple whammy” of unemployment, school debt, housing expenses and, often, the need to care for elderly parents. He said developing a “spending discipline is important.”

Spend on things that increase wealth

“Our first starter home was a $180,000 condo,” Obama said. “That was still a good investment. … It remains smart to spend on things that will increase productivity and income in the long term.”

The President finished by applying his theme to the national economy. “That’s an important distinction that we as a country have to make. … The economy has to get back to producing more and not just spending more.”

Practicing what he preaches

Last month, the White House made financial disclosure reports for President Obama available to the public. Those reports reflect that Obama practices what he preaches. In 2010 he earned $1.57 million, nearly quadruple the $400,000 he earns annually as President of the United States. Most of Obama’s investments are in Treasury Bills and Treasury Notes, opting for long-term security over risky high return investments.

Sources

Daily Finance
The Consumerist
Wealthinformantics

President Obama recently called for a massive overhaul of the energy policy of the nation. Image from Wikimedia Commons.

President Obama has called for a massive overhaul of American energy policy. At a speech at Georgetown University, he announced that he intends to push for greater use of natural gas, spur development in renewable energy technology and reduce American imports of oil. Republicans are accusing him of being hypocritical about domestic oil production.

Speech from president causes spike in natural gas prices

President Obama recently gave a speech at Georgetown University, in which he called for a drastic overhaul of the energy policy of the nation. During the speech, Obama said that he intended to spur greater use of natural gas as transport fuel, which led to a 2 percent increase in the price of natural gas on the New York Mercantile Exchange, according to ABC. Natural gas prices were also given a boost by the incoming cold front heading for the East coast, according to MSNBC. This does not mean natural gas prices will shoot through the roof and keeping the heat on will be impossible, but natural gas imports and production may increase. The president also called for greater development of alternative fuel vehicles and pledged to reduce oil imports by a third in the next 10 years.

Conservatives act as foil to oil initiative

Congressional Republicans were quick to cry foul over the President’s call for reducing oil imports and increasing domestic oil production, according to CNN. Mitch McConnell, the Senate Minority Leader, said the president was just “telling people what they wanted to hear” and was quick to point out that the Obama administration put the freeze on offshore oil drilling after the BP oil spill. A spokesperson for Speaker of the House John Boehner, according to USA Today, echoed a similar sentiment. The President was, though, observing that oil was not a limitless resource and that the United States cannot afford to act as if it were oblivious to that fact.

World oil supply

The president is touching on a real issue when it comes to the long term stability of the world economy. Scientists have been warning for decades that “peak oil,” or the highest level of output of oil possible before supply irrevocably declines, is lurking in the not too distant future. Oil prices have been rising for weeks, according to ABC, because of the possibility of a possible interruption in supply due to unrest in the Middle East, and oil makes the modern world possible. When supplies begin to run out, no amount of money will bring back the days when a person could fill up their gas tank with impunity, so any funding that goes into better alternatives to oil is money well spent.

Sources

ABC on Natural Gas

ABC on Oil Prices

CNN

MSNBC

USA Today

Do the Professional Left have to wear suit and tie? Image from Wikimedia Commons.

In a recent interview, White House Press Secretary Robert Gibbs decried a shadowy group of people, known as the “professional left.” While this may cause some to miss the days of the highly quotable Dan Quayle, it seems a telling portrait of who the administration is looking to please.

Gibbs prefers the amateur left

The “professional left,” as Press Secretary Robert Gibbs put it, have yet to be satisfied with anything Obama has done as president. In an interview with The Hill, he said that this shadow cabal of malcontents would only be happy with a health care plan akin to Canada’s and when the Pentagon is done away with. He also said that they were comparing Obama with George W. Bush, and that for doing so, they should all be “drug tested.” The White House Press Secretary also purported they wouldn’t be happy “even if Dennis Kucinich was President.”

Who are these sinister people?

The going assumption is that the Obama administration is fed up with criticisms from liberals, especially about a public option and no improvement in federal LGBT rights. Some say the White House has not taken a proactive enough role in repealing Don’t Ask Don’t Tell. Still, just who exactly the “professional left” is supposed to be, it isn’t clearly defined. The interview was published today Gibbs was conspicuously absent from the White House press conference that day. Bill Burton, who filled in for Gibbs, says he was sick.

Not the most artful of phrases

Though the exact demographic Robert Gibbs was lampooning wasn’t entirely clear, what it was he objected to was clear. The fact is that no matter what an elected official does, it is never good enough for some people, and others just love to complain.

Further Reading

The Hill

(Image from MarinePhotoBank, Flickr.com)

It is safe to say that the extent of damage from the Gulf of Mexico oil spill will be far-reaching, but to think you might need online payday loans because of the spill is a little strange, right? Wrong. Obviously, the environment and ecosystem of the Gulf will be hard hit, but we forget how many people rely on that ecosystem. Fishermen will have no fish to net. Shrimpers will have no shrimp to catch. Drivers across the nation will feel the pinch at the pump.

In short, the oil spill will not only wreak havoc on the Gulf ecosystem, it will also take a toll on the economy.

BP versus Exxon Valdez

The BP Oil Spill has far surpassed the Exxon Valdez spill. When the Exxon Valdez ran aground in Alaska, it was considered one of the most tragic environmental disasters ever. So, we can now assume that the BP Oil Spill will go down as another environmental tragedy. Oil is gushing into the gulf, and the sticky petroleum is killing wildlife including shrimp, birds and fish — fish that fishermen usually catch for a living.

Unemployment in the Gulf

The United States is already struggling with unemployment. In April, the unemployment rate was 9.5 percent. The Florida Oil Spill will not help matters. Without fish and shrimp to fill their nets, there are going to be a lot of fishermen out of work and out of food.

Summer Gas Prices

People that live on and around the Gulf Coast will be hit hardest by the oil spill, but people in the rest of the country can expect gas prices to go up. Gas prices typically increase in the summer months, but when you start messing with the supply, you can anticipate an even bigger price increase.

Obama Promises a Solution

President Obama promises Americans that we will get through this catastrophe. No doubt we will get through it, but we have no idea how much it is going to cost us. If the oil spill has left you in a financial sticky spot, unemployed, or just unable to put gas in your car, online payday loans are a quick, easy way to wipe away those financial troubles and get instant cash.

The Dorothy Height funeral was held at Washington National Cathedral, where President Barack Obama honored the civil rights icon with a heartfelt eulogy. Flickr photo.

At the Dorothy Height funeral in Washington D.C. Thursday, President Barack Obama delivered the eulogy. Before he spoke at the service held in the Washington National Cathedral, he issued an executive order directing that the American flag fly at half staff on land and at sea worldwide. The Dorothy Height biography establishes her as the leading female voice of the civil rights movement in the 1960s. Dorothy Height’s civil rights activism continued well into her 90s and took part in discussions about health care at the White House until late last year. She had been at Howard University Hospital. Dorothy Height died April 20. She was 98.

At the Dorothy Height funeral

At the Dorothy Height funeral at Washington National Cathedral, President Obama lightened the reverent mood with what the New York Times reports as a fondly humorous portrait of the feisty Ms. Height that often drew laughter from the audience. Obama noted that Height made 21 visits to the White House since his inauguration. “We did come to know her during the early days of my campaign, and we came to love her as so many loved her,” the president said. “We loved her stories, and her smile and those hats.” Dorothy Height’s trademark look was a collection of big, brightly colored hats that she coordinated with her outfits.

Dorothy Height’s last presidential honor

Obama’s heartfelt eulogy at the Dorothy Height funeral and executive flag order aren’t the first time Dorothy Height’s civil rights devotion has been honored by the President of the United States. Bill Clinton awarded her the Presidential Medal of Freedom in 1994. George W. Bush awarded Height Congressional Gold Medal in 2004.The Associated Press reports that when Bush awarded her the medal, he said that Height had met with every U.S. president since Eisenhower, and “she’s told every president what she thinks since Dwight David Eisenhower.”

Dorothy Height biography

The Dorothy Height biography includes marching alongside Martin Luther King Jr. She was on the platform at the Lincoln Memorial, sitting only a few feet from King, when he gave his famous “I have a dream” speech at the March on Washington in 1963. Dorothy Height’s civil rights activism was underscored by her leadership of the National Council of Negro Women for 40 years, from 1957 to 1997. Height spearheaded programs to help poor rural families raise their own livestock and worked to ease racial tensions with a program called “Wednesdays in Mississippi,” in which black and white women from the north traveled to meet with their Southern counterparts.

Dorothy Height’s legacy

In coverage of the Dorothy Height funeral, the New York Times noted that Height was considered by historians and civil rights activists as one of the last links to the social activism of the New Deal era of Franklin D. Roosevelt. Her career spanned most of one century and part of another, in which she witnessed events ranging from anti-lynching protests to the inauguration of President Obama. When Obama won the election, Height told Washington TV station WTTG that she was overwhelmed with emotion.

“People ask me, did I ever dream it would happen, and I said, if you didn’t have the dream, you couldn’t have worked on it,” she said.

John Paul Stevens has served on the court for 34 years. Image from Wikimedia Commons.

Unlike the rumors of John Robers retiring that were flying around earlier this year, it is confirmed that the John Paul Stevens retire is true. The longest-serving, 90-year-old Supreme Court justice announced that he will retire in a letter to the president this morning. The White House has been preparing for John Paul Stevens to retire and has nominations at the ready. Nominees for the Supreme Court position will face tough questions on everything from loan lenders to civil rights.

John Paul Stevens will retire in June

Justice John Paul Stevens will retire from the country’s highest court in June. John Paul Stevens was appointed to the high court by Gerald Ford and began serving in December of 1975. John Paul Stevens will turn 90 on April 20, and has made his plans to retire fairly clear.

Who will be nominated upon John Paul Stevens’ retirement?

When the John Paul Stevens retire takes effect, President Obama and his team will have a second chance to nominate a Supreme Court Justice. The three most likely nominees include Elena Kagan, Diane Wood and Merrick Garland. Both Elana Kagan, the Solicitor General, and Diane Wood, and Appellate court judge, were interviewed last spring when President Obama chose to nominate Sonya Sotomayor. The confirmation process for whomever is nominated will include hearings in front of a very adversarial Senate committe. Republicans have continued their policy of no-engagement since the passing of Health Care Reform on debt consolidation grounds.

John Paul Stevens retire leaves a liberal opening

John Paul Stevens was nominated by a Republican president. However, John Paul Stevens has become known as a very liberal voice on the Supreme Court. His votes have helped limit the use of the death penalty, uphold affirmative action, and vote for the strict separation of church and state. In the Bush v. Gore case, John Paul Stevens wrote a vehement dissenting opinion.

Race To The Top asks states to "tune up" their education policy to compete for federal funds. Image from Flickr.

As a part of the 2009 American Recovery and Reinvestment Act, a new education program called Race To The Top was created. With more than $4 billion available for school districts, Race To The Top laid out a point system for schools that wanted a cut of the funds. There are two rounds of funding, and only two states created Race To The Top plans that earned them federal funding. Many state school districts are now scrambling to implement or refine reforms to hopefully get a cut of round 2 Race To The Top same day cash loans.

Race To The Top Basics

The Race To The Top educational reforms are based on a 500-point scoring system for state educational systems. No single improvement in educational policy is worth more than 58 points – most are worth between 10 and 40 points. Making education funding a priority is worth 10 points. Demonstrating progress in closing achievement gaps is worth 30 points. Developing statewide academic standards is worth 40 points. Forty states and the District of Columbia have elected to compete for Race To The Top funds. Awards to schools are based on student population, and are ultimately determined by the Department of Education.

First round Race To The Top Winners

In the first round of Race To The Top awards, only two states were awarded money. Delaware and Tennessee will both receive federal Race To The Top money. Delaware will be awarded about $107 million and Tennessee will be awarded as much as $502 million for their education budgets.

Education Secretary Arne Duncan acknowledged that with only two schools being awarded money in the Race To The Top competition, many states were left out. However, he also stated that he hopes it will “light a fire” in statehouses across the nation. The deciding factors for Delaware and Tennessee included the support of teacher’s unions and plans to increase student achievement.

States scrambling for Round 2 Race To The Top funds

The Race To The Top fund, when it was created, had relatively few rules from Congress. Arne Duncan has created a “judged” point system that weighs a state’s own reforms with the point system created for Race To The Top. Many states have expressed concerns with Race To The Top, namely that the point system favors tying a teacher or principal’s performance to student achievement.

Many other states have expressed concern that the unprecedented number of federal dollars will not be distributed to all states, leaving some wondering why the federal government hasn’t given them some of the money to lend that it has. Most states are fighting huge budget deficits, and education is often one of the first areas where cuts are made. There is still over $3 billion in Race To The Top fund, and Round 2 “winners” will be announced in June.

Sources:

ED.gov
Washington Post
ABC News

Benjamin Netanyahu will be meeting with President Obama at the White House today. Image from Flickr.

Israeli prime minister Benjamin Netanyahu is scheduled to meet with President Barack Obama at the White House this evening. The meeting is closed to reporters, but most reports indicate that the talks are most likely going to be focused on the recent Israeli announcements that an East Jerusalem settlement has been approved, pending the developer’s secured loans. Some politicians are also hoping that the meeting between Netanyahu and Obama will include discussions of the diplomat representing Israel being kicked out of Britain.

Netanyahu and Obama to discuss peace talks

One of the major topics on the docket for the meeting between Netanyahu and Obama will be the restarting of indirect peace talks with Israel and Palestine. Over the last few decades, the United States has mediated several peace talks between Israel and Palestine, though tensions in the region remain high. Israel, through their Prime Minister Netanyahu, has recently announced plans to allow 1,600 new settler homes in East Jerusalem. The United States, through Secretary of State Hillary Clinton, has condemned the plans, and tensions between Netanyahu and Obama have since been very high.

Netanyahu takes a stand on Jerusalem

Jersulem has long been a disputed district in the Israel-Palestine conflict. In a speech to Israel’s supporters in Washington, D.C., given before he met with Obama, Netanyahu stated that “Jerusalem is not a settlement. It’s our capital.” He also very carefully outlined that while the relationship between the U.S. and Israel may be strained, any attempts to break off the relationship would not work. Netanyahu has advocated on multiple occasions that the easiest path to peace between Israel and Palestine would be an “economic path” – relying on commerce and money loans to make peace.

Bejamin Netanyahu’s history as Prime Minister

President Obama is not the first United States President that Benjamin Netanyahu has met with. Netanyahu was originally Prime Minister of Israel from 1996 – 1999. After a turn in political fortunes and 10 years of political work in Israel, Netanyahu again became the head of a coalition government in Israel. In the past, Netanyahu has called U.S. led peace talks between Israel and Palestine a “waste of time.” In January of 2009, Netanyahu claimed he would continue the Israeli policy of not building new settlements in disputed areas. However, the recent approval of an Israeli settlement in East Jerusalem seems to contradict this act.

Sources:

Voice of America News
Guardian
The Jerusalem Post
Wikipedia

If you're in a hurry to get back to work, the new jobs bill may help

President Obama has signed new legislation intended to create jobs by providing tax breaks for businesses and funding for infrastructure programs. The $17.6 billion package is a slimmed down version of the $85 billion bipartisan proposal drafted last month by the Senate Finance Committee.  Plenty of unemployed workers across the nation are hoping the bill will get them back to work and eventually bring some debt relief.

Highlights of the jobs bill

The new legislation will:

• Provide employers with Social Security payroll-tax exemptions for new hires who were unemployed for at least 60 days
• Provide employers with tax credits for new employees who are retained for at least one year
• Provide tax breaks for businesses that make equipment purchases and other capital expenditures
• Fund highway and transit programs through 2010
• Expand the Build America Bonds program, which helps fund state and municipal construction projects

What job-bill critics say

With job losses continuing to mount and the unemployment rate still hovering at 9.7 percent, many lawmakers, economists and business leaders consider the bill to be small and ineffective. Some contend that the credit will prompt the hiring of about 300,000 workers, but others say companies won’t hire regardless of tax incentives unless the demand for products and services increases.

What the president says

According to CNN Money, the new bill may soon be reinforced with further job measures. Obama said the new law “is the first of what (he) hopes will be a series of jobs packages that help to continue to put people back to work all across America.”

Additional employment measures

House members are currently formulating several more jobs bills, and Senate Democratic leaders are focusing on employment initiatives for small businesses. The House recently passed a bill that would extend the deadline to apply for extended unemployment benefits by one month, through May 5, and is considering a $140 billion bill that would extend the deadline until the end of 2010.  Hopefully, lots of unemployed people will be back to work by then and doing so well they’ll have money to lend.

The Senates’ number one priority

Majority Leader Harry Reid (see http://www.nola.com/news/index.ssf/2009/12/health_care_overhaul_set_for_p.html) said, “I don’t know if there is a senator that doesn’t have something in this bill that was important to them, and if they don’t have something in it important to them, then it doesn’t speak well of them.” Reid is making reference to the massive legislation that makes up the health care plan. It includes a $100 million fund to pay the cost of Medicaid expansion. The plan’s main feature is that it would extend health care coverage to 30 million uninsured Americans. The cost is projected to be $1 trillion over a 10-year period.

How the health care plan works

In the new health care plan, everyone would be required to purchase insurance. There would be subsidies available to help lower-income people, ones that must make ends meet on a smaller pay day, and businesses would have various tax breaks and penalties for coverage to employees. The most-talked-about aspect of the bill is the change when it comes to “pre-existing conditions.” For years, Americans have been turned away for health care coverage on pre-existing conditions, and it’s been a difficult situation for those who need assistance but don’t qualify. This new bill makes the ineligibility for applicants with pre-existing conditions obsolete.

Also, the uninsured or self-employed would have new ways of finding coverage at storefronts referred to as “exchanges.” These exchanges would be the stage where private insurers would sell their health plans. Much like shopping for car insurance through a broker, health care would be available to consumers. A battery of questions would lead to a customized health care solution.

The American Medical Association weighs in

The AMA is endorsing the health care plan. Reid (see http://www.nola.com/news/index.ssf/2009/12/health_care_overhaul_set_for_p.html) said, “America has the best health care in the world — if you can get it. For far too many people, access to care is out of reach because they lack insurance. This is not acceptable to physicians.” The AMA is in support of the latest revision of the bill after some key changes were implemented into the law. Namely the changes included:

• A proposed fee on physicians to enroll in Medicare was eliminated
• A 5 percent tax on elective cosmetic surgery was eliminated
• A 10 percent percent tax on indoor tanning services was created
• Payments were cut regarding physicians paying for bonuses to primary care doctors in economically depressed areas

These changes were instrumental in the AMA supporting the new health care plan. AMA President Dr. Cecil B. Wilson said, “The health industry needs to extend health care to the vast public and a sweeping legislation is the only way to do it… we want to build a case where everyone in the health industry benefits from the bill.”

The final days for a decision

The final days to make changes and approve the bill are quickly drawing near. Republicans can still take time to review the bill and they are most likely going to use all their allotted time. Senator Bob Corker said, “We potentially are getting ready to pass a bill that there’s no question in my mind is going to lead to huge deficits down the road.” Despite challenges, something has to be done to help uninsured Americans and this sweeping legislation is the best plan available.

Obama's health care plan blends the House and Senate proposals. Image from Flickr.

The Obama health care plan, in its most recent incarnation, is now available for all to see on the White House web site. Of course, it’s a very lengthy document and some parts are a little hard to understand, so I have composed a summary focusing on the parts that have changed since the last health care bill was made public.

Obama’s health care plan contains elements from both the House and Senate versions of the bill, but the White House site says it more closely resembles the senate version. One important question people want to know up front is how the government will pay for Obama’s health care plan. People don’t want to see the feds take out another cash loan and incur more national debt.

Paying for the Obama health care plan

The White House site says the bill will make health care more affordable:

The House and Senate health insurance bills lower premiums through increased competition, oversight, and new accountability standards set by insurance exchanges.  The bills also provide tax credits and reduced cost sharing for families with modest income. The President’s Proposal improves the affordability of health care by increasing the tax credits for families.

Low- and middle-income families also will get tax breaks to help pay for health insurance. Check out a table of income levels and tax breaks.

Crackdown

Part of Obama’s health care plan focuses on cracking down on waste, fraud and abuse. The bill creates a comprehensive sanctions database and calls for registration and background checks of billing agencies and individuals. It expands access to the health care integrity and protection data bank.

The president’s proposal also aims to ensure that people have access to mental health care. It also provides the ability for real-time data review and increases sanctions for committing Medicare or Medicaid fraud. Read a full list of crackdown measures.

In the long run

As far as making sure the cost of Obama’s health care plan can continue to be sustainable, the web site says:

President’s Proposal creates a set of benchmark payments at different percentages of the current average fee-for-service costs in an area.  It phases these benchmarks in gradually in order to avoid disruption to beneficiaries, taking into account the relative payments to fee-for-service costs in an area.

The plan also will delay and reform the high-cost plan excise tax, broaden Medicare hospital insurance, increase fees on brand-name prescriptions and close tax loopholes to prevent unjustified tax shelters. You can read about more improvements and view a searchable copy of the Obama health care plan at WhiteHouse.gov.

Sometimes it seems like the president just can’t win. For his first year in office, everyone  said he was spending too much. Now that President Barack Obama has announced a spending freeze, Republicans are saying that’s impossible. Democrats are saying he’s pandering to Republicans.

We elected the guy. Don’t you think, to an extent, maybe we should just trust him? Apparently that’s not the American way. Don’t get me wrong; I think a certain level of skepticism is healthy. But I get sick of the whining. Kind of like when people can’t pay back their payday loans, and the direct lender gets blamed instead of the borrower’s poor budgeting.

Conditions to Obama’s spending freeze

Obama’s spending freeze will last until the end of his current term — three years. It isn’t a complete freeze; he says he still will allow military spending. Of course, he’ll talk about this in his State of the Union address tomorrow, and I am sure there will be more exceptions to Obama’s spending freeze. Maybe once he explains the details people will calm down, but for now it appears that pretty much everyone has a problem with it.

Obama says the spending freeze will save $250 million over the next three years, and exactly how it will work will be detailed Feb. 1 when he unveils the budget. The one good thing I have read about Obama’s spending freeze is Kristi Keck from CNN’s comment that Obama’s spending freeze “could help him recapture the favor of centrist voters.”

Negative press

To those who are dismissing Obama’s spending freeze as impossible, I quote Keck again, who points out that this is “a partial, three-year freeze on discretionary spending.” So that doesn’t sound so hard, does it? Still, there’s no shortage of quotes like this one from CNBC:

“This is like announcing you’re going on a diet after winning a pie-eating contest,” said Michael Steel, spokesman for House of Representatives Republican leader John Boehner.

The way things are going, small businesses are going to need more than that. What about a cash advance for all? (Photo: flickr.com)

The U.S. has finally traveled out of the dark ages of recession, or so it seems, because a few people I know have had to utilize cash advance loans to keep their businesses afloat. Many of financial hardships that people are facing aren’t spewing forth from a lack of effort. Typically, recoveries from recession in the United States are lead by small businesses. It’s during this time that small businesses should be springing forth, and advancing the growth of the current economic state.

Positives of This Recession Break

The positive side of a “recession breather” is that small businesses can lease or buy fairly cheap commercial property while they prepare for financial growth and industry expansion. My friend and newbie online business owner Carl R. said, “I believe that in up to six months from now, the unemployment rate should scale back down to the eight percent, or maybe even five percent mark.” At that point, we should be celebrating and enjoying life, because small businesses would provide four out of five new jobs for Americans.

Is There a Dark Side to This?

Unfortunately, if we do happen to regress into another dreaded recession, falling from the “recession breather” we’re currently in, it could go down this way: unemployment could crawl “way above” 10 percent. That would definitely put us into another funk. Commercial Real Estate values would sink more than they expand, due to a lack of small business expansion. When small businesses refuse to expand, they react by rebuffing the notion of hiring, because of the possible lack of expansion. The concept is similar to a revolving wheel. Small businesses are the rise and fall of our country’s financial destiny. Small businesses fear the thought of consistently changing company policies and creating rigid changes in energy, union membership and health care matters. In this case, unfortunately, a cash advance loan wouldn’t help my friend Carl.

There are wonderful possibilities as to how small business power could signal an economic charge against financial woes and provide recession remission. However, the reality is that small businesses still aren’t hiring, and most are aware of the facts presented here.

Some Businesses are Doing Better than Others

Some of the conglomerates like McDonald’s, Green Mountain Coffee and Panera Bread have weathered the current recession, either by keeping profits at a set high or improving their sales figures. However, not all restaurants are operated and provide as much convenience as fast-food chains Most use and need credit lines to run their businesses.

Will President Obama Save Small Business?

There are numerous issues involved in the recovery of small business. Energy and union labor are two big issues worrying small business owners. President Obama’s plans for health care are a current worry as well. Inflation and commodity prices that determine the costs of food production and delivery all play a key factor in the anxiousness small business owners are feeling about what’s ahead in the upcoming months.

Michael Lind had some things to say on Salon.com about the ideas and future plans for Obamacare, in that it practically places small businesses on a financial “sacrificial altar.” I won’t delve into the intricacies of his statements, but if Mr. Lind’s words represent the thoughts of President Obama, and congressional Democrats (who poor and middle class people have been hoping would rescue our country from its existing financial position), small businesses will only be able to dream of expansion.

Not a Storybook Ending

The sad truth is that locked down small businesses won’t start hiring, and the result will be that the current commercial property bomb might not be defused in time. And I’m sure that no one wants to see America fall prey to the explosion of a second recession. Thankfully, a cash advance loan is there if – or when – you need one.

Apply for a Cash Advance HERE!

Saving money is not as easy as it looks. Image from flikr.com

The government has always pushed for people to put money into personal savings. Now President Barack Obama has created ways that will actually make saving easier for workers.

Just like Personal Money store makes online payday loans easier, Obama has come up with these three ways for individuals to save money: auto-enrollment in retirement plans, issuing tax returns as savings bonds and putting unused sick or vacation days into 401k plans.

1. Auto-enrollment in retirement plans

This will not make retirement plans mandatory for employees, it will simply make it easier for employers to enroll their employees in the retirement plans. CNN Money explains:

To make it easier for smaller and medium-sized employers to automatically enroll workers into retirement plans, the administration will clear up some bureaucratic paper-work hurdles for employers to offer that option.

2. Tax returns as savings bonds

This one is pretty simple. Recently the government made it possible for tax payers to get their refunds deposited directly into their bank accounts rather than sending a paper check. Similarly, now tax payers will have the option of having their tax return issued in the form of government savings bonds.

Automatically converting your tax returns into government savings bonds means that your money will be automatically saved and it will earn a higher interest rate than it would at a normal bank. The longer you leave your money alone, the more you will make off of it.

3. Saving sick and vacation days

Many people do not use up their sick days or vacation days at work. For the vast majority, that means that they are wasted. The government now will make it easier for employers to convert their employees’ unused sick or vacation days into dollars invested in their 401k plans. Again, this isn’t a mandatory thing at all. Employers and employees have the option of whether they want to do it or not, it simply will be easier.

Why the extreme measures?

Before you start spouting off about big government and personal freedom, remember that all of these things are completely optional. No one — not employers or employees — is require to participate. However, the benefits of personal savings in relation to the economy are obvious to everyone, so as part of the effort to turn the recession around, the White House has come up with these ways to encourage and facilitate personal savings. Just in case you’re in doubt about whether this help is necessary, here are some statistics from CNN Money:

Even among those with savings in the bank, the nest egg is relatively lean. Of workers 55 years or older, about half have less than $50,000 in savings, excluding their homes and pensions, according to the Employee Benefit Research Institute.

Some of these measures will be very lucrative for people. Unfortunately, these only help people who have jobs and qualify for tax returns. Saving money and investing wisely is very important, and I for one am glad to see that the government isn’t just talking about the fact that people should save money, but is actually taking steps to make it easier. I hope we will see more measures like this in the future, and that we can find a way to help people who don’t have 401ks and tax returns.

When will this ever be OK? When these things fly! (Photo: TripAdvisor.com)

Are your tax dollars hard at work, making President Obama’s stimulus plan the biggest, baddest stimulus fighting machine it can be? Is it helping America recover from this gigantic recession? Let me just say that you shouldn’t give up your payday loans and unsecured loans based upon the outcome of Barack’s little plan.

Take a look at what we’re giving Clougherty Packing LLC

Bungalow Bill’s Conservative Wisdom blog points out that when it comes to stimulus fighting, the pork barrel stuff may be just the tonic to deep six America’s economic stimulus. Huzzah!

First of all, check out the images in Bungalow Bill’s article: they are statements that reflect just where (and in what amounts) our tax dollars are being used. Among the expenses are a $1 million two-pounds of sliced ham, courtesy of Clougherty Packing, LLC. But that’s not all. Take a look at the numbers and see perhaps why we haven’t seen more job creation as yet.

$1,562,568 for Mozzarella cheese!

Is that the change we need? Or $351,807 to replace a dumbwaiter? This is along with the $2,531,600 expense for “HAM, WATER ADDED, COOKED, FROZEN, SLICED, 2-LB.” That brings Clougherty Packing LLC’s already staggering total of pork (they like to say ham) to almost $4 million. How do you explain something like that away, Mr. Obama?

Oh, the damage continues! There’s a ripe bill for $5,708,260. This is for community works projects, right? Wrong! It’s for PROCESSED CHEESE from Bongards’ Creameries in Minnesota! I agree with Bungalow Bill when he questions whether newly elected Minnesota Senator Al Franken will be getting right on this one and questioning procedure. Was there more than artificial cheese going down there? To answer that, let’s understand that multiple sources confirm that the CEO of Hormel, the mega company that currently owns Clougherty Packing LLC, is an Obama campaign supporter. How does that pork smell now?

Wait, wait

(Photo: politikditto.blogspot.com)

It may be that Clougherty Packing LLC was awarded that kind of money to provide ham for food banks. Hard to argue if that’s true, but this all still comes across as a smelly, wasteful mess. Is that the change President Obama promised us?

Bungalow Bill concludes his piece with some good advice:

By the way, two-pounds of ham and some processed cheese isn’t going to go far in the coming Obama soup lines. Obama did say the country is broke. You should be worried.

I don’t normally subscribe to media fearmongering. Both liberals and conservatives do it. However, if these numbers are any indication of where our tax dollars are going, I am deeply concerned with this administration’s ability to execute a recovery plan representing the will of the people. The next thing you know, payday loans and unsecured loans won’t matter, as joblessness will continue to rise and the unemployed will (for the most part) be ineligible for the loans. With any debt, the person must have the means to responsibly repay.

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