Finally, Some Good News: US Household Debt Burden Hits Record Low

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A measure of the burden of U.S. household debt sank to a record low in the fourth quarter, offering more evidence of improving household finances that should lend support to consumer spending and the economy.
The household debt-service ratio – an estimate of the share of debt payments to disposable personal income – fell to 10.38 percent, the Federal Reserve said on Wednesday.

That was the lowest since the series started in 1980. In comparison, the ratio, which takes into account outstanding mortgage and consumer debt, was 10.56 percent in the third quarter. It peaked in the third quarter of 2007, shortly before the U.S. economy fell into recession.

“Household balance sheets are improving and that lays the foundation for more spending, which in turn can lead to a virtuous cycle of more business investment and hopefully more jobs,” said Dana Saporta, director of U.S. economics research at Credit Suisse in New York.

U.S. households built up a massive debt load as the housing bubble expanded. Efforts to pay down those debts have been a restraint on spending and the economy’s recovery.

Now, it appears that process of deleveraging may have run its course. Data from the Fed last week showed household debt rose at a 2.5 percent annual rate in the fourth quarter, the fastest since early 2008, while a report last month from the New York Federal Reserve Bank said consumer debt rose in the last three months of 2012 for the first time in four years.

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Intelligence Director: Surprise! ‘Arab Spring’ Has Benefited Islamists

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Photo Credit: AP

The “Arab spring” has benefited Islamists rather than democracy advocates, while political transitions and unrest in the region have provided opportunities for terrorists to mount attacks against U.S. interests, Director of National Intelligence James Clapper told lawmakers Tuesday.

Delivering the intelligence community’s annual report on threats facing the United States, Clapper gave what amounted to a downbeat assessment of the upheavals that many initially viewed as a promising movement towards greater democracy in a region dominated by long-ruling autocrats.

“Islamist actors have been the chief electoral beneficiaries of the political openings, and Islamist parties in Egypt, Tunisia and Morocco will likely solidify their influence in the coming year,” he told the Senate Select Committee on Intelligence in a written statement.

“Although some countries have made progress towards democratic rule, most are experiencing uncertainty, violence, and political backsliding. The toppling of leaders and weakening of regimes have also unleashed destabilizing ethnic and sectarian rivalries.”

Clapper said the transitions in Egypt, Tunisia, Libya and Yemen, and unrest in Syria and Mali had offered opportunities for terrorists to target American interests.

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Cruz: Let’s See if Obama’s Willing to Shutdown Gov’t to Fund Obamacare

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Photo Credit: AP

Senator Ted Cruz (R-Texas) introduced an amendment on Wednesday that would cut off all funds for Obamacare, a step he said Republicans should support and, if it were to pass in the House as well, could be sent to President Barack Obama to see if he’s “willing to try to shut the government down” over funding of the Affordable Care Act.

“I think it’s the right position for Republicans to be taking,” Cruz told CNSNews.com. “And I think it would be exactly the right decision to then send it back to Harry Reid and President Obama and ask if Harry Reid and President Obama are willing to try to shut the government down in order to insist that Obamacare be fully funded now, even though it could well push us into a recession.”

“I think that is an important stand for principle that makes a difference in the lives of those who are struggling the most,” said the senator.

On Wednesday, Cruz introduced his de-fund Obamacare amendment to the continuing resolution (CR), which is a massive “must-pass” bill to keep the government funded for the rest of this fiscal year, from late March through the end of September.

Last week, the Republican-controlled House passed a $982-billion CR, but the GOP leadership set the rule and did not allow the must-pass CR to include language prohibiting funding for Obamacare or for de-funding the controversial Obamacare mandate that requires nearly all health plans to offer contraceptives, sterilization, and abortion-inducing drugs without co-payments.

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Rep. Bridenstine on Obamacare: ‘Just Because The Supreme Court Rules On Something Doesn’t Necessarily Mean That That’s Constitutional’

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After just over two months in office, Republican Rep. Jim Bridenstine has already set the tone for his first two-year term in Congress as a leader who cares more about principle than party.

For instance, the 37-year-old native of Tulsa, Okla. did not vote for John Boehner to be Speaker of the House and tried last week to get the House to vote to defund Obamacare despite push back from House leadership.

Before coming to Congress, Bridenstine served his country by flying combat missions in Iraq and Afghanistan. He never ran for public office before deciding with his friends in his living room to challenge Republican Rep. John Sullivan, who had voted to increase the debt limit. Bridenstine surprised many by defeating Sullivan in the primary before cruising to victory in the general election last November.

Bridenstine says Obamacare “is a government takeover” and says Chief Justice John Roberts is “incorrect” on the Affordable Care Act being a tax. He says he wants “Congress to take back its constitutional authority.”

“Just because the Supreme Court rules on something doesn’t necessarily mean that that’s constitutional,” he said.

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“Catholic” Joe Biden To Lead U.S. Delegation To Greet Staunchly Pro-Life Pope Francis

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Photo Credit: LifeNews

Never mind that Vice President Joe Biden has been rebuked by his own bishop over his pro-abortion views, he will lead the U.S. delegation to the installation of Pope Francis, the White House said today.

Biden is the first Catholic to serve as vice president and he will represent the United States at the installation Mass for Pope Francis on March 19, Vatican spokesman the Rev. Tom Rosica confirmed today.

Biden’s own bishop has had to correct the pro-abortion politician on his misstating the pro-life teachings of the Catholic Church.

In the interview with the Delaware News Journal, Biden continued to misrepresent the position of the Catholic Church on abortion in a way that has gotten him in trouble.

“But throughout the church’s history, we’ve argued between whether or not it is wrong in every circumstance and the degree of wrong. Catholics have this notion, it’s almost a gradation,” Biden claimed.

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Sequester Meat Shortages Months Away, Says USDA Secretary

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The sequester likely won’t cause meat and poultry shortages for a while—thanks, in part, to union negotiations and USDA inspectors’ lack of email access.

Furloughs to Food Safety and Inspection Service inspectors at the U.S. Department of Agriculture could force meat and poultry plants to stop production–with no inspectors to approve products, they can’t be sold—but today Agriculture Secretary Tom Vilsack told the House Agriculture Committee that those furloughs probably won’t happen until later this year.

“We are looking at a several-month period, if you will, before a furlough will be imposed,” Vilsack said, depending on negotiations with the inspectors’ union. A drawn-out notification process will prevent the furloughs from happening right away, Vilsack said.

“This week we will send out notices to the union reps that a furlough is possible, and one of the challenges is that not every one of our workers in this particular area has email, so we actually have to hand-deliver a letter or written notification to those employees. That has to be followed up … with oral conferences to take place with any employee who requests an oral confirmation–that will happen at the local level,” Vilsack said. After all employees are notified, Vilsack said, USDA will negotiate with union representatives over how the furloughs will be implemented.

But if furloughs do happen, Vilsack warned their impact could be particularly severe.

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Doctors Confirm Unborn Babies Feel Abortion Pain At 20 Weeks

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Photo Credit: LifeNews

The Texas Pain Bill, which establishes a state interest in protecting the lives of preborn children who feel pain, has predictably been attacked by the anti-Life media, which challenges the scientific evidence.

The Dallas Observer called the evidence “medically questionable,” and cited a “fact” that “there is no conclusive evidence to suggest that fetuses actually feel pain.” The Observer ignores dozens of current peer-reviewed fetal pain studies that confirm the capacity of a 20-week child to feel pain in utero.

Numerous scientific studies and physicians recognize that preborn children feel torturous pain from abortion by twenty weeks gestation, if not earlier. Contrary to The Observer’s ludicrous claim that the reality of fetal pain is based on a study from 1987 that has been “debunked,” ample recent evidence from the scientific community supports the bill.

What we know is the nervous system is developed to a level of maturity where pain can be sensed. We do see physical reaction to stimulation, and not only with respect to movement of the child, but release of stress hormones and other responses such as elevated heart rate. These are all objective responses to pain. And that is superimposed on the knowledge that the circuitry is developed which enables a human to feel and experience pain.

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Holy Smoke! The “New World” Finally Gets Its Pope

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Photo Credit: Sebástian Freire

The white smoke billowing out of the Sistine Chapel chimney, signaled a changing of the guard for the Catholic Church. Acknowledging the almost half billion Catholics who live in Latin America, the council of Cardinals finally recognized the “new world” by electing Archbishop of Buenos Aires, Cardinal Jorge Mario Bergoglio, as the next Pope.

The 76 year old Argentinian, will be the first non European Pope to be elected in over 1,000 years. He will be known as Pope Francis from now on, indicating he plans to model his life in the same prayerful and humble role as St. Francis of Assissi.

If it’s any indication of his future humility, Cardinal Bergoglio once went to a hospital where sick aids patients lay. He washed and kissed their feet as he said prayers, blessing and expressing his love for them…..He is also well known for his compassion and outspokenness for the poor and downtrodden

Another first is that he is from the Jesuit order, the Church has never had a Jesuit as Pope before.

Other “new world” Cardinals were mentioned as possible candidates for Pope as well, including Irish American Cardinals: New York’s Timothy Dolan, and Boston’s Sean O’Malley.

Cardinal Dolan, particularly would have been well suited to head the Church as he has a stellar reputation for accomplishing tasks, can maneuver through the world of secular politics and is a master at communicating with the media…Strengths necessary as the Church is besieged by a bevy of problems, including outside secular forces and competition from other sects of Christianity….But many other problems the Church faces, are of their own making.

Rumors swirled around the idea of having an American Pope. Some people think too much power is already vested in America and to have an American Pope would be too much. Others said they would be suspicious that an American Pope would be working for the CIA.

Although Latin America accounts for almost half of the population of Catholics in the world, it only has 22 Cardinals out of the approximately 125 elector Cardinals worldwide. So this new Pope signals the recognition that the Churches future growth, for now, lies in the developing parts of the world.

In spite of its problems the Catholic Church is the single largest religion in the world with 1.2 billion members. It is the wellspring of world charity in places where little of that exists and has brought education to millions who would have otherwise been denied a chance to be educated. The Church was also instrumental, under the helm of Pope John Paul, in bringing down the Soviet Unions Iron Curtain that had enslaved millions around the world.

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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.

Exoskeleton Allows Anchorage Man to Walk (+video)

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Photo Credit: Ekso Bionics

The idea of “wearable robots” may seem like something out of a movie, but this technology is already being used in real life.

Started as a project for the military, the exoskeleton has transformed from a device designed to allow soldiers to lift heavy loads and walk further to one that enables people with disabilities to step out of wheelchairs and stand upright.

The “Ekso” is a bionic exoskeleton developed by Ekso Bionics that gives paraplegics upright mobility. While the commercial version of the Ekso has recently been made available to hospitals and rehabilitation centers, the company hopes to make the technology more accessible so that people can use it at home and in their everyday lives, with a personal version releasing in 2014.

CEO Eythor Bender sat down with CNN to talk about Ekso, the bionic exoskeleton he helped develop.

CNN: How many years have you been working on exoskeletons?

Bender: We have been working on exoskeletons for the last 10 years. It started as a project with the military and it was funded by DARPA, the same people who funded the Internet and GPS systems. So it was groundbreaking technology, and in the year 2005 we had a breakthrough in terms of making sure that the weight of the exoskeleton transfers all the way down to the ground. So the user who is wearing it — it usually weighs up to 50 pounds — doesn’t feel the weight at all. And that’s so important because obviously you are trying to make their lives easier, not more difficult.

Watch video here:

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New Pope Francis Called Abortion the ‘Death Penalty for the Unborn’

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The archbishop of Buenos Aires, Jorge Mario Bergoglio, has been selected to become the next Pope, leading the Catholic Church. Like his predecessors, Pope Benedict XVI and Pope John Paul II, he is a staunch pro-life advocate when it comes to abortion.

Last year, then-Cardinal Bergoglio stated, “Abortion is never a solution. We listen, support and understanding from our place to save two lives: respect the human being small and helpless, they can take steps to preserve your life, allow birth and then be creative in the search for ways to bring it to its full development.”

He once called abortion a “death sentence” for unborn children, during a 2007 speech and likening opposition to abortion to opposition to the death penalty.

In an October 2, 2007 speech Bergoglio said that “we aren’t in agreement with the death penalty,” but “in Argentina we have the death penalty. A child conceived by the rape of a mentally ill or retarded woman can be condemned to death.”

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