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Bill USA

Profile Information

Member since: Wed Mar 3, 2010, 04:25 PM
Number of posts: 6,436

About Me

Quotes I like: "Prediction is very difficult, especially concerning the future." "There are some things so serious that you have to laugh at them.” __ Niels Bohr Given his contribution to the establishment of quantum mechanics, I guess it's not surprising he had such a quirky of sense of humor. ......................."Deliberate misinterpretation and misrepresentation of another's position is a basic technique of (dis)information processing" __ I said that

Journal Archives

Trumps Economic Cabinet Picks Signal Embrace of Wall St. Elite

For those who bought the meme of Evil Hillary as WS's friend, now you get to see REAL crony fascism in the flesh - this is not GOP propaganda:


(click to see video: Trump's picks for Treasury and Commerce)
“The No.1 problem with the Volcker Rule is it’s too complicated and people don’t know how to interpret it,” said Steven Mnuchin, Donald Trump’s pick for Treasury. By CNBC on Publish Date November 30, 2016. Photo by CNBC. Watch in Times Video »

In a campaign commercial that ran just before the election, Donald J. Trump’s voice boomed over a series of Wall Street images. He described “a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth, and put that money into the pockets of a handful of large corporations.”


With Wednesday’s nomination of Steven Mnuchin, a Goldman trader turned hedge fund manager and Hollywood financier, to be Treasury secretary, a new economic leadership is taking shape in Washington.

Mr. Mnuchin will join Wilbur L. Ross Jr., a billionaire investor in distressed assets, who has been chosen to run the Commerce Department, and Todd Ricketts, owner of the Chicago Cubs, who has been picked to be deputy commerce secretary. All are superwealthy and to be overseen by the first billionaire president in United States history.

That two investors — Mr. Mnuchin and Mr. Ross — will occupy two major economic positions in the new administration is the most powerful signal yet that Mr. Trump plans to emphasize policies friendly to Wall Street, like tax cuts and a relaxation of regulation, in the early days of his administration.


with ACA repeal, tax cuts worth more than premiums for 800,000 people in 20 states - CBPP


Republican lawmakers’ planned bill to repeal the ACA is expected to resemble the repeal bill that President Obama vetoed in January 2016. This approach would cut taxes for the richest people in the country while eliminating premium tax credits for low- and moderate-income people that help them buy health coverage in the health insurance marketplace and thereby afford to go to the doctor.

Households with incomes above $1 million would receive tax cuts averaging $57,000 apiece in 2025, reaping 53 percent of the net tax cuts.[6] The bulk of the tax cuts for high-income filers would come from eliminating two ACA Medicare taxes that fall only on high-income filers: the additional Medicare Hospital Insurance tax of 0.9 percent on earnings over $250,000 a year ($200,000 for single filers) and the Medicare tax of 3.8 percent on the unearned income of households above the $250,000 and $200,000 thresholds.

* Households with incomes above $1 million would receive 80 percent of the windfall from eliminating these two taxes, TPC estimates. [7]

* The top 400 households, who had average incomes of $318 million in 2014, would receive about $7 million apiece, on average, CBPP estimates based on IRS data.[8]

Not only would the highest-income households receive large tax cuts, in clear violation of the Mnuchin test, but people making between $40,000 and $50,000 would face an average tax increase of $100, in large part from the elimination of the premium tax credit.[9] Seven million low- and moderate-income families would lose premium tax credits worth an average of $5,700 in 2025.[10]

The total tax cuts for the Top 400 as a group just from repealing the ACA’s two Medicare tax provisions would exceed all of the premium tax credits for 813,000 low- and moderate-income people in the 20 smallest states and Washington, D.C. (see Figure 1).

(much more)

making America Break again: DT's Trickle Down economics will cost economy $1 Tril, 4 mil jobs lost


His presidency would cost the U.S. economy $1 trillion over the next five years, according to Oxford Economics, a British forecasting firm with offices in the United States.

The analysis comes ahead of Trump's big speech on Thursday at the Economic Club of New York, where he's expected to offer more clarity on his economic policy promises.

Oxford Economics found that if fully implemented, Trump's economic, tax and immigration policies would cost 4 million U.S. jobs, weigh down global growth and U.S. consumer spending, and could spark a trade war with other nations.

"Combining these policies together, the impact could be significantly negative for the U.S. economy," says Jamie Thompson, head of macro scenarios at Oxford Economics.

Oxford's figures are in line with other analysis. The University of Pennsylvania's Wharton Budget Model forecasts Trump's immigration policy costing 4 million jobs and Moody's economist Mark Zandi -- a Clinton supporter -- also forecasts a similar job loss under Trump.


Chicago bar hosting Trump-Free Friday will donate drink sales to Planned Parenthood


A Chicago bar and restaurant will hold a “Trump-Free Zone” during Friday’s inauguration of the president-elect so city residents can avoid the peaceful transition of power to the Trump regime over a few drinks, DNAInfo reports.

If drinking through the inauguration wasn’t enough of a draw for Chicagoans, the bar added that it would donate a percentage of drink sale revenues to Planned Parenthood.

In a post on Facebook, Hopleaf Bar wrote, “This Friday may be an occasion where you’ll want to take a drink or two. With No TVs & No Screens, Hopleaf is a Trump-Free Zone. On Inauguration Day we’ll be donating 10% of the day’s drink sale revenues to Planned Parenthood.”

Residents of Chicago have planned a series of rallies and protests across the city on Friday, including outside the Chicago Trump Tower. Another group is holding an all-day strike calling for walk-outs from work and school, and no shopping.

Obamas Criminally Underrated Jobs Record. Since DT said there r no jobs in '15, jobs grew 3 Mil

President Obama’s Criminally Underrated Jobs Record

[font size="3"]Since Donald Trump said “there are no jobs” in 2015, the U.S. has created 3 million of them[/font]


This wasn’t true then. But it’s even less true now. Here’s a brief tour of economic developments since Trump’s June 2015 address:


Since June 2015, the economy has created more than 3.2 million jobs— more than the number of jobs in 38 separate states and roughly equal to the number of workers in states like Massachusetts or Washington. In the last 15 months, the labor force has added another Bay State.

When Barack Obama took office, the unemployment rate was passing 8 percent on its way to 10 percent. But U.S. unemployment has now been at 5 percent or below every month for a full year.

The economy created 11 million jobs under President Obama, which is (literally) quasi-infinitely more than the number of jobs created under President George W. Bush, since his jobs created total was about 400,000 below zero. The economy has now added jobs for 73 consecutive months, a record.



Median household incomes jumped by 5.2 percent in 2015, the year Trump made his comments. That was fastest rate on record, according to the U.S. Census.

Real Growth in Household Income

WhiteHouse.gov ... last chance to copy stuff. here's info on economic record


MUCH more at this site...

Stabilized an Economy in Crisis and Laid the Groundwork for Long-Term Growth

 Took steps to help the hardest-hit Americans. Without the Recovery Act’s boost to household incomes, the poverty rate would have risen an additional 1.7 percentage points—which translates into about 5.3 million additional people that would have slipped into poverty in 2010

 Provided tax relief that gave the typical American family a tax cut of $3,600 over the first four years of the Administration — helping to restart job growth — and made important tax cuts permanent for working families and families with college students.

 Secured substantial reforms to improve education for all Americans — from catalyzing reforms of K-12 education to investing in community colleges to making it easier for students to afford higher education

 Invested in building the economy of the future, from physical and technological infrastructure — including roads, bridges, and broadband — to scientific research to the largest investment in clean energy in history

Helping the Hardest-Hit Americans

• Expanded and extended emergency unemployment benefits ten times, helping a total of 21 million Americans.

• Increased benefits and expanded access to the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps lifting more than 500,000 households out of food insecurity.

• Provided additional subsidies so that workers who lost their jobs could continue their health insurance coverage.

• Provided incentives for companies to hire unemployed veterans and disconnected youth.

• Boosted federal Medicaid payments to help states provide health coverage.

• Provided funding to states to support subsidized jobs for 260,000 low-income parents and youth and provided more than $1 billion for youth summer jobs.

• Oversaw 250,000 rural jobs created in 2014 and 2015 combined, and a 3.4 percent increase in rural household incomes from 2014 to 2015. Read more about how rural America is back in business.

Former Intelligence Official: Trump Conflict With Spy Agencies Creates Dangerous Moment

... his consummate incompetence and profound ignorance is, of course, why in Russia they celebrated his win.


The conflict between President-elect Donald Trump and the U.S. intelligence community could have profound repercussions.

We spoke recently about the issue to Matthew Olsen, who spent two decades working in senior posts in intelligence and national security for Democrat and Republican administrations. Olsen, 54, served most recently (from 2011 to 2014) as director of the intelligence community’s National Counterterrorism Center. Before that, he was the general counsel of the National Security Agency. In 2009, he was executive director of the Guantanamo Review Task Force for the Justice Department.

A longtime federal prosecutor, Olsen has been an associate deputy attorney general overseeing national security and criminal cases; acting assistant attorney general for national security; chief of the national security division at the U.S. Attorney’s office in the District of Columbia; and a special counsel to the director of the FBI. Last year, Olsen was a part-time volunteer adviser on national security issues to the presidential campaign of Hillary Clinton. Today, he’s an executive at IronNet Cybersecurity, a firm he co-founded, and a lecturer at Harvard Law School.

ProPublica: You’ve told me the worst thing someone can say about intelligence professionals is that they are partisan. So what is your impression of the mood in the intelligence community as a result of the criticism by the President-elect?


Heres what you need to know about Russias election hacking - WaPo


Here’s what you need to know about Russia’s election meddling:

•U.S. intelligence suggests Russia helped Trump win the presidency and that the Kremlin’s hacking efforts were disproportionately aimed at the Democratic Party.

•Previously, the U.S. intelligence community had said that Moscow’s goals were limited to disrupting the election.
•U.S. officials believe a Russian military spy agency hacked the Democratic National Committee and provided WikiLeaks with thousands of emails.

•Officials say the Russian government also “breached” the Republican National Committee’s computer systems, but are less certain whether the hackers were able to extract information. The RNC denies it was hacked.


The key findings from the US intelligence report on the Russia hack, decoded - VOX.com

.. this is a very good article. It really needs to be read in full.


Late Friday afternoon, the Office of the Director of National Intelligence (ODNI) released a declassified version of its report on Russia’s interference in the US presidential election. The report, which draws on intelligence gathered by the FBI, CIA, and NSA, concludes with “high confidence” that “Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the US presidential election” that included hacking the personal email accounts of Democratic Party officials and political figures.


All three intel agencies agree that Putin personally ordered the hack, and that the goal was to help Trump

The ODNI report states conclusively that Putin personally ordered the email hacks of Democratic Party officials as part of a broader campaign to influence the US election in Trump’s favor. This seems to have sprung, in part, from Putin’s paranoia concerning perceived US attempts to undermine his government.

The report explains that Putin was incensed about a series of scandals that embarrassed his government, such as the Panama Papers leak, which revealed (among other things) a secret $2 billion account held by Putin personally. The Russian hacking campaign was designed in part to throw a similar kind of dirt on the United States, which he held responsible for his embarrassment.


The campaign was designed to disproportionately target Clinton, whom Putin saw as a threat — he blamed her, in particular, for the 2011 anti-government protests in Russia. So the “consistent goals” of the influence campaign, the report says, were “to undermine public faith in the US democratic process, denigrate Secretary Clinton, and harm her electability and potential presidency.”


Putin defends Donald Trump, says critics trying to undermine the legitimacy of the president-elect

... PUtin defends trump, criticizes Dems, Obama. Well, Donnie little hands says thanks, Vlad..... WTF?


Russian President Vladimir Putin on Tuesday jumped to the defense of Donald Trump, saying that President Barack Obama and the media are trying to “undermine the legitimacy” of the man he allegedly tried to get elected.

“We are witnessing an ongoing acute political struggle in the U.S., whose task is to undermine the legitimacy of the president-elect,” Putin told the Russian news agency Interfax, according to Business Insider on Tuesday. He also accused the authors of the Trump dossier of being “worse than prostitutes” and argued that “the media frenzy surrounding Trump speaks of the degradation of U.S. political elites.”

Putin dismissed a dossier — filled with unverified allegations claiming that Trump had been compromised by Russian intelligence — as “an obvious fake” and “nonsense.” He went on to argue that Russians feel no need to “chase every American billionaire” and added, in perhaps an attempt to suck up to the president-elect, that Trump “has been with the most beautiful women in the world, so why would he need prostitutes in Moscow?”

Finally, Putin parroted Trump’s claims against President Obama, saying he was trying to tie Trump’s “hands and feet” by imposing new sanctions on Russia.

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