Greek election: world breaths temporary sigh of relief as bailouts to continue

The President and his team have been blaming “European headwinds” for some of the U.S. economy’s woes. But the truth is that the policies pursued by Washington and Athens are frighteningly similar—and the outcomes are not good for either country. Both countries are in need of comprehensive fiscal reforms, yet their leaders have avoided the tough decisions in favor of bailouts and political posturing.

In yesterday’s election, political parties supporting Greece’s bailout secured a narrow victory, causing Europe and world markets to breathe a temporary sigh of relief. The parties must now form a coalition government, despite continued protests from the radical party that sought to throw out the terms of the bailout assistance—which could have led Greece out of the euro currency. At 22 percent unemployment, Greek voters expressed disappointment with their limited options.

The Greek crisis was foreshadowed in this year’s Heritage Foundation/Wall Street Journal Index of Economic Freedom, with Greece registering the largest decline in economic freedom of any country in the world. Its economy is rated “mostly unfree,” and it has the fifth-lowest economic freedom score inEurope, beating only Russia and three former Soviet republics.

Why is it in such a state? The authors of the Index point to “decades of overspending, a lack of structural reform progress, and endemic corruption,” noting that Greece’s “lack of competitiveness and fading business confidence are serious impediments to economic revival. Adjustments in market conditions have been stifled or delayed by public unions.”

Sound familiar?  It should, because the similarities between the U.S. and Greece are alarming. Two years ago, Heritage’s J.D. Foster said that “We’re not Greece…yet.” Since he wrote that in May 2010, however, U.S. debt has nearly doubled as a share of the economy. Greece’s public debt, at 165 percent of gross domestic product (GDP), doesn’t seem that unreal any more.

Read more at Heritage.org HERE.

US Fed, Banks Prepare for Worldwide Chaos Following Tomorrow’s Vote

Speculation is mounting that central banks including the Bank of England, Bank of Japan and US Federal Reserve are readying emergency support measures to fight the market fall-out which the result of the polls could unleash.

G20 officials said central banks were ready to step in if needed to stabilise financial markets after the vote. Canada is “ready to act” if the situation takes a serious turn for the worse or there is “an external shock”, a spokesman for its prime minister said.

The head of the European Central Bank, Mario Draghi, also fuelled speculation of looming action, as he indicated inflation was not a threat which would prevent a move.

“There are serious downside risks here,” he said. “This risk has to do mostly with the heightened uncertainty.”

In the UK, the Chancellor has announced £140bn emergency funds will be funnelled to banks via the Bank of England to avoid another credit crunch against the backdrop of the eurozone crisis. The prospect of more action boosted the UK’s benchmark FTSE 100 index on Friday, which closed up 0.22pc at 5,478.81 points.

Read more at the UK Telegraph HERE.

Obama responds angrily to reporter’s question, then walks out

President Barack Obama’s angry response to a reporter who interrupted his Rose Garden remarks Friday was the latest salvo in what some political experts see as an era of incivility.

Neil Munro, a White House correspondent for the Washington-based website The Daily Caller, asked the president about his administration’s dramatic policy shift on immigration while the president was in the middle of delivering prepared remarks.

“Excuse me, sir. It’s not time for questions, sir,” Obama fired back. “Not while I’m speaking.”

Munro later told CNN’s Brianna Keilar, “I have to ask the questions you all won’t ask,” referring to the reporters gathered who regularly cover the White House.

“I always go to the White House prepared with questions for our president. I timed the question believing the president was closing his remarks, because naturally I have no intention of interrupting the president of the United States,” Munro said in a statement on the Caller’s website. “I know he rarely takes questions before walking away from the podium. When I asked the question as he finished his speech, he turned his back on the many reporters and walked away while I and at least one other reporter asked questions.”

Read more at CNN.com HERE.

On eve of Obamacare ruling, Supreme Court Justice predicts ‘sharp disagreement’

With a wry smile, Justice Ruth Bader Ginsburg laid waste Friday to all those rumors about the fate of the Affordable Care Act in the Supreme Court.

“Those who know don’t talk. And those who talk don’t know,” she quipped Friday night at a conference hosted by the American Constitution Society at the Capital Hilton.

Ginsburg said she was responding to a “steady stream of rumors and fifth-hand accounts” about the court’s deliberations on the law.

Careful not to tip her hand on the court’s ruling — expected in the next two weeks — Ginsburg described the oral arguments in the case as unprecedented for the number of “press conferences, prayer circles, protests and counterprotests” that occurred on the courthouse steps.

Although she offered no insight into the tightly held decisions of her colleagues, Ginsburg did indicate that many of the court’s decisions over the next two weeks — which are also expected to include an FCC indecency ruling — might be close.

Read more at Politico HERE.

Obama 2011: “I can’t just suspend deportations, there are laws on the books”

In March 2011, speaking at Univision town hall in Washington, D.C., Barack Obama firmly stated that, as president, he can’t simply “suspend deportations” with only an executive order. “With respect to the notion that I can just suspend deportations through executive order, that’s just not the case, because there are laws on the books that Congress has passed,” President Obama said then.

His statement then was in response to this straight forward question, “What if at least you grant temporary protective status, TPS, to undocumented students? If the answer is yes, when? And if no, why not?”

Today, the Obama administration seems to be contradicting what the president once believed. With the announcement that young illegal immigrants who “do not present a risk to national security or public safety” will not be deported, Obama seems to have turned a corner. Now the Obama administration will be using prosecutorial discretion not to go after these people.

So, what has happened since then? Has the president “evolved” on immigration the way he did on gay marriage?

There has not been any change to the laws on the books that would offer a different legal course regarding immigration. Instead, it appears to be a reinterpretation of the law–and of executive power–on the part of President Obama.

Read more at the Weekly Standard HERE.

Marco Rubio “applauding” Obama’s New Illegal Alien Deportation Policy

A GOP senator on the short list to be Mitt Romney’s running mate is applauding President Obama’s move to forego deportations for some illegal immigrants.

Sen. Marco Rubio (R-Fla.) said the more lenient policy is “welcome news” for those immigrants who will benefit, though he was quick to knock the administration for acting unilaterally.

“Today’s announcement will be welcome news for many of these kids desperate for an answer, but it is a short term answer to a long term problem,” the Cuban-American Rubio said in a statement. “And by once again ignoring the Constitution and going around Congress, this short term policy will make it harder to find a balanced and responsible long term one.”

Rubio’s comments are a stark contrast to those coming from other Republicans, who are blasting the new rules as a threat to U.S. jobs and – in the words of Sen. Lindsey Graham (R-S.C.) – “possibly illegal.”

Rubio’s remarks also further complicate the position of GOP presidential hopeful Mitt Romney, who took a hard conservative line against illegal immigrants amid the heat of the GOP primary but is now searching for ways to soften that stance to appeal to Hispanic voters, who will be vital in a number of swing states in November.

Read more at the Hill.com HERE.

General Mills Announces Support for Gay Marriage at MN Homosexual Pride Event

The Minnesota food giant that brought to the nation’s parents, and especially their children, the Honey Nut Bee, Lucky the Leprechaun and the Silly Trix Rabbit now publicly is supporting homosexual marriage, leaving critics surprised at General Mills’ abandonment of traditional values families.

General Mills CEO Ken Peters announced this week at a Minneapolis homosexual pride event that his company opposes the marriage amendment on the Minnesota ballot in November.

Same-sex marriage is already illegal in Minnesota, but supporters of the traditional marriage initiative say that the constitutional amendment would keep marriage safe from activist courts and even legislators who may attempt to usurp state law.

Already there is a case in Hennepin County effectively putting the Minnesota Defense of Marriage Act on trial, and Minnesota pro-traditional marriage groups say that the November ballot measure is critical.

Supporters of traditional marriage say that General Mills couldn’t be more wrong in calling its support a business decision, but that is precisely how General Mills is voicing its opposition to the idea that state residents could define marriage for themselves.

Read more at WND.com HERE.

John the Baptist’s bones found in 5th Century Romanian Church?

A small handful of bones found in an ancient church in Bulgaria may belong to John the Baptist, the biblical figure said to have baptized Jesus.  There’s no way to be sure, of course, as there are no confirmed pieces of John the Baptist to compare to the fragments of bone. But the sarcophagus holding the bones was found near a second box bearing the name of St. John and his feast date (also called a holy day) of June 24. Now, new radiocarbon dating of the collagen in one of the bones pegs its age to the early first century, consistent with the New Testament and Jewish histories of John the Baptist’s life.

“We got some dates that are very interesting indeed,” study researcher Thomas Higham of the University of Oxford told LiveScience. “They suggest that the human bone is all from the same person, it’s from a male, and it has a very high likelihood of an origin in the Near East,” or Middle East where John the Baptist would have lived.

The bones were found in 2010 by Romanian archaeologists Kazimir Popkonstantinov and Rossina Kostova while excavating an old church site on the island of Sveti Ivan, which translates to St. John. The church was constructed in two periods in the fifth and sixth centuries.

Beneath the altar, the archaeologists found a small marble sarcophagus, about 6 inches long. Inside were six human bones and three animal bones. The next day, the researchers found a second box just 20 inches away. This one was made of volcanic rock called tuff. On it, an inscription read, “Dear Lord, please help your servant Thomas” along with St. John the Baptist’s name and official church feast day.

The findings paint a story of a man named Thomas charged with bringing relics, or body parts, of St. John to the island to consecrate a new church there. It was common in the fourth and fifth centuries for wealthy patrons to pay for new churches and to give saintly relics to the monks who staffed them, Higham told LiveScience.

Read more at MSNBC.com HERE.

US Economy Braces for Greek Vote

Global leaders and financial markets will be captivated by a high-stakes political campaign with broad economic implications Sunday, and it won’t be in the United States.

Instead, Greek parliamentary elections set halfway across the world will grip American policymakers and financial leaders as the poll results may dictate whether Greece can remain within the Eurozone, or if its messy exit could throw the global financial system into turmoil.

The White House will be watching the results closely too, as the president’s reelection campaign, thought to hedge primarily on the fate of the economy, could be swept up as well.

The populist leftist Syriza Party is led by Alexis Tsipras, who has basically told voters to call the bluff of Greece’s global backers – reject the austerity package offered by the European Union and International Monetary Fund, nationalize the banks, and effectively dare European leaders to cut off Greece’s lifeline and push them away from the eurozone.

The uncertainty brought by a Syriza win would test the mettle of financial markets, and its aftermath could weigh on the global economy, which is far from resolute.

Read more at the Hill.com HERE.

China apologizes for forced late-term Abortion

In a rare move, China has apologized to a woman who was forced to undergo an abortion at seven months of pregnancy and has suspended three family planning officials after gruesome photos of the mother and her dead unborn baby went viral on the Internet.

Chinese and American human rights groups exposed how the woman, Feng Jianmei, was beaten and dragged into a vehicle by a group of family planning officials while her husband, Deng Jiyuan, was out working. The officials asked for RMB 40,000 in fines from Feng Jianmei’s family and, when they did not receive the money, they forcibly aborted Feng at seven months, laying the body of her aborted baby next to her in the bed (pictured right).

The abortion has triggered a chain of angry protests from around the world and the human rights group ChinaAid indicated the family will be represented by an attorney who will press their case.

Read more at LifeNews.com HERE.

CBS News also reports:

The government of Ankang city, where Feng lives in northwest China’s Shaanxi province, said a deputy mayor visited Feng and her husband in the hospital, apologized to them and said officials would be suspended amid an investigation.

“Today, I am here on behalf of the municipal government to see you and express our sincere apology to you. I hope to get your understanding,” Deputy Mayor Du Shouping said, according to a statement on the city government’s website Friday.

The official Xinhua News Agency says three officials would be relieved of their duties: two top local family planning officials and the head of the township government.

Xinhua said Feng was not legally entitled to a second child under China’s one-child limit, but added that late-term abortions are prohibited due to the risk of causing physical injury to the mother.

“The correct way to deal with the case would have been for local officials to allow her to deliver the baby first, and then mete out punishment according to regulations,” the agency quoted an anonymous provincial family planning official as saying.