Wall Street Shrugs off President, Focuses on Congress

Photo Credit: APWhen it comes to worrying over a possible debt default, Wall Street is brushing off President Barack Obama’s warnings and focusing its attention instead on Congress.

Investors say they currently view the words and deeds of Congress as having more power to move markets because the president is not viewed as being intimately involved in the ongoing fiscal negotiations — more of a spectator in chief as the House and Senate fight over how to break their impasse.

“The financial markets seem to believe at this point it’s really in the hands of the House and the Senate,” said Joseph LaVorgna, chief U.S. economist with Deutsche Bank. “In other words, I think the market’s focused more on what might be happening between [Senate Majority Leader] Harry Reid and [Speaker] John Boehner than the president.”

This dynamic was on display in recent days as Wall Street tried to parse Washington’s jawboning.

Last week, Obama cautioned that Wall Street should be seriously worried that Congress may fail to raise the debt ceiling, saying in an interview with CNBC that markets “should be concerned” and that “this time it’s different.”

Read more from this story HERE.

Government “Shutdown” a Boon for Americans, the War on Energy Has a Lull

Photo Credit: Irish CentralFrom the emotional headlines, you would think America is in dire straights from a government “shutdown.” But as usual the truth is masked by the headlines and can be found in the print of the details.

In reality only 18% of the government is “shutdown” and the rest of it is humming along as usual, getting automatic funding by rules in place to safeguard our system.

Entitlement checks are on schedule, our armed forces are funded, coasts are guarded and all other critical services essential to running our government are functioning, including the White House chef and dog walker. See White House in shutdown.

Most of the high profile government layoffs are for employees deemed “non essential,” yet even these employees will suffer no long term ill effects, as they will get full pay and benefits for staying home when government “reopens.”…Basically these non essential employees are getting paid vacations.

If American citizens thought there would be some sort of savings from having a government shutdown, on the surface it appears there is none.

But if you look at just one government agency that has a profound effect on the cost of living for all Americans, you can see there is a silver lining.

The Environmental Protection Agency has deemed that over 93% of its employees are “non essential” and have sent them home.

The EPA has been the surrogate bludgeon President Obama has used to wage war on the fossil energy sector, particularly America’s main source of fuel for its electrical energy: coal.

After President Obama was thwarted by members of his own party to impose a crippling carbon tax on the energy industry, he declared a backdoor war of regulations with the end goal of punishing all forms of fossil energy…..All being waged under the guise of his “climate action plan,” which particularly singles out the coal industry.

President Obama did declare his policies would make energy prices necessarily skyrocket and we can see where these policies are leading as Europe and UK citizens struggle under a new devastating economic condition known as “energy poverty.” See: Soaring energy costs make Europeans poor.

“Among those furloughed at the EPA would be most workers at the Office of Air and Radiation, which is in charge of writing and implementing most of the EPA’s major air pollution rules. Also facing furloughs is the unit of the EPA that enforces regulations by taking legal action against an air or water polluter. Just 182 of the enforcement unit’s 804 employees are exempted from furloughs.” See Reuters article-EPA to be hit hard in shutdown.

This brief respite might prove a welcome relief for the blanket of regulations and litigation that add untold expense every time you switch on a light bulb, or start your car to go to work.

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Ed Farnan is the conservative columnist at IrishCentral, where he has been writing on the need for energy independence, strong self defense, secure borders, 2nd amendment, smaller government and many other issues. His articles appear in many publications throughout the USA and world. He has been a guest on Fox News and a regular guest on radio stations in the US and Europe.

Truckers to Protest Obama on Beltway

Photo Credit: kate at yr own risk/flickrA group of truck drivers are planning to protest the federal government by backing up the Capital Beltway around Washington, D.C.

The group “Truckers for the Constitution” is hoping to call attention to its frustration with regulations from the Obama administration and the overall political climate in the U.S. with an appeal that echoes the early rhetoric of the Tea Party.

“Independent Truckers of America are essentially operating on extremely low; and in most cases working below minimum wage, and all paying exorbitant fuel costs and fees,” the group said on its website, RideForTheConstitution.org.

“American truckers are also very politically astute and great patriots, they are all well aware of what is happening to our U.S. Constitution,” the website continued. “Through this campaign, they are leading the convoy of all Americans coast-to-coast who wish to restore our constitutional republic. America is calling out to our Patriots, and if any group can help lead the charge to save our nation, it’s the U.S. truckers.”

The truck drivers are complaining about their wages, gas prices and the Obama administration’s regulations of their industry. Additionally, they are unhappy with reports the U.S. government was spying on American citizens earlier this year and the amount of debt the country has.

Read more from this story HERE.

Obamacare showdown in Texas

Photo Credit: APThe ground war over Obamacare — the one that will determine whether people sign up — will be won and lost in places like Texas.

If Obamacare fails in the Lone Star State — that is, if a significant portion of the 6.1 million uninsured Texans don’t or can’t enroll — then the White House could miss its national enrollment targets, the new health insurance exchanges could falter and insurance rates could spike.

Obamacare could be unsustainable.

And that’s exactly what leading Texas politicians like Gov. Rick Perry and Sen. Ted Cruz would like to see happen. With the political leaders’ “hell no” approach to Obamacare, Texas may not seem like a health law battleground. But the demographics — a huge, hard-to-reach uninsured population — mean it’s a make-or-break state for making the law work.

Advocates are banking on the idea that a grass-roots push in more liberal, urban areas of Texas, plus the demand among the uninsured to get health coverage, will overcome the state’s institutional opposition and deliver on the promise of Obamacare.

Read more from this story HERE.

Wisconsin Professor tells Students Tea Party, Republicans at Fault for Slimdown

Photo Credit: UWLAX.EDUA Wisconsin college professor warned her students they wouldn’t be able to get all of their homework done because of the partial government shutdown, and put a partisan spin on the bad news.

“Some of the data gathering assignment will be impossible to complete until the Republican/tea party controlled House of Representatives agrees to fund the government,” University of Wisconsin La Crosse Assistant Geography Professor Rachel Slocum told students in an e-mail.

“The Census website, for instance, is closed,” she continued. “Please do what you can on the assignment. Those parts you are unable to do because of the shutdown will have to wait until Congress decides we actually need a government. Please listen to the news and be prepared to turn in the assignment quickly once our nation re-opens.”

At least one student in the online course reported the professor’s political spin to the education blog The College Fix, which first reported the story.

Slocum could not be reached for comment, but a school official told FoxNews.com the issue was addressed.

Read more from this story HERE.

Least Essential? Some Agencies Have 0 Employees on Job During Slimdown

Photo Credit: APFiscal hawks say the silver lining to the partial government shutdown, which is entering its second week of scaled-back services, could be the picture of government waste it paints for taxpayers.

A look through the shutdown contingency plans of the federal government shows some little-known commissions and agencies — like the U.S. Commission of Fine Arts and the U.S. Interagency Council on Homelessness — don’t have anybody reporting for work during the partial shutdown.

The ability of the government to run without any of the people from any of these agencies on the clock is prompting some watchdog groups to question why, then, do the agencies need to exist in the first place?

“Think of all the money we could save as a nation,” Judicial Watch said in an Oct. 7 post. “Besides bringing attention to these largely unheard of agencies, the shutdown – caused by Congress’s inability to agree on a funding bill – is also shedding light on just how bloated the federal government is, with an astounding workforce that’s seen nearly 800,000 furloughed this week.”

Government bodies that have exactly zero people on the job this week include the USDA Risk Management Agency, where all 430 employees are furloughed, and the Federal Maritime Commission, where all 120 workers are furloughed.

Read more from this story HERE.

Ohio School District Agrees to Keep Portrait of Jesus off Wall, Pay $95G Fine

Photo Credit: APAn Ohio school district has agreed to keep a portrait of Jesus Christ off school property and pay a $95,000 fine in the face of legal pressure from the American Civil Liberties Union.

The Jackson City School District, located in Jackson, reached a deal on Friday after the ACLU, along with the Wisconsin-based Freedom from Religion Foundation, sued the district in February, citing “unconstitutional” actions and charging that students and visitors to the school “will continue to suffer permanent, severe and irreparable harm and injury,” according to the lawsuit.

The picture had been hanging in Jackson’s high school since 1947 as part of a “Hall of Honor” display meant to highlight famous historical figures.

Read more from this story HERE.

IG That Watchdogs IRS–And Uncovered Targeting of Tea Party–‘Shut Down’ (+video)

Photo Credit: AP/Charles DharapakWhile the Treasury Department has continued its basic operations since the government “shutdown” last Tuesday–collecting tens of billions in taxes and spending even more–the Office of the Treasury Inspector General for Tax Administration (TIGTA), which conducts audits and investigations of the IRS, and which uncovered the IRS’s targeting of Tea Party groups, has been “shut down.”

“As of October 7 at 8:30 am, due to the continued lapse in appropriated federal funding, TIGTA’s normal operations are shut down,” says the recorded message at an “emergency notification” phone line that the IG’s office set up for its workers. “Employees should’ve already received instructions to not report to work, and to not incur any work related expenses.”

“We anticipate full cessation of audits, inspections and evaluations during the shutdown period,” says a TIGTA document obtained by CNSNews.com. The document is entitled “Bureau Shutdown Plans During Periods of Lapsed Appropriations, September 2013.”

According to the document, in addition to ceasing audits, investigations and evaluations, TIGTA is also furloughing 61% of its staff.

Read more from this story HERE.

Ready to Hear Latest Lie about Obamacare?

Photo Credit: WNDThe Obama administration is gushing that Obamacare will change the lives of three uninsured women – but none of the women have actually enrolled in the program.

Twitchy noted that the HHS blog “offers the stories of three women as if they’re Obamacare ‘success stories.’”

However, a close reading of their statements reveals Caroline, Kate and Elizabeth say they are “looking to buy,” “still shopping” and “still trying to decide.”

The HHS blog says Caroline, a 27-year-old substitute teacher and part-time guidance counselor in Washington, D.C., who has been uninsured since 2009, wants to “get insurance on the Marketplace” so she can avoid expensive emergency hospital bills.

According to HHS, Kate, a 30-year-old consultant for a non-governmental organization said she is “overwhelmed” by her options on the Marketplace and is “still shopping to make sure I make the right decision.”

Read more from this story HERE.

‘Shutdown’ Day 7: Government Buys $47,174 Mechanical Bull

Photo Credit: mechanicalbullsales.comThe government shutdown may be keeping furloughed federal workers at home, but on Monday the U.S. Army contracted to buy a mechanical bull.

The $47,174 contract was awarded on Oct. 7 to Mechanical Bull Sales Inc. of State College, Penn.

According to the General Services Administration (GSA) listing, the National Guard of Utah made the request for a “bull which needs to be durable and low maintenance.”

Read more from this story HERE.