The economy, job and housing market are the most important issues for the American electorate.

An overwhelming population is experiencing tough economic situations one way or another and there is legitimate concern over the rising deficit as well.

President Barack Obama and Congressional Democrats achievements, work-in-progress including the remedial measures are elaborated for better understanding and fair assessment.

Upon assuming office President Barack Obama and the Congressional Democrats passed the economic stimulus bill worth $787 billion to salvage the economy from ‘Great Depression,’ at that time.

This step was vital for the U.S. and the global economy on the precipitous decline following,

The previous administration’s deficit spending on two simultaneous wars in Iraq and Afghanistan,

Facilitating financial market recklessness,

Free market deregulations in finance, health and energy industries,

Widening deficits through financial and auto industry bailouts with no accountability

Allowing Corporations to evade taxes on domestic and overseas earnings with adverse effects on national revenue.

Extending tax cuts for the wealthy – are the few recipes that triggered the economic disaster.

The policies were implemented at U.S. taxpayers and the average Americans colossal expense.

By neglecting the national requirements - prominently the job and housing market deceleration, the infrastructure repair and restoration, education, health, social security, veterans’ health care, small businesses and the American families in general.

President Barack Obama then introduced “The American Recovery and Reinvestment Act” for $787 billion in February 2009.

It comprised -
• $288 billion in tax cuts.
• $224 billion in extended unemployment benefits, education and health care.
• $275 billion for job creation using federal contracts, grants and loans.

The main objective was to invigorate economic and job growth at an estimated 900,000 – 2.3 million jobs.

Further, the stimulus fund was spread over ten years with the first three fiscal years receiving the major allocation.

The Congressional Budget Office (CBO) projected the stimulus funds would boost GDP growth by 1.4% - 3.8% at the end of 2009.

GDP growth for Q4, 2009 – 5.6% when including the businesses low inventory replenishment.

Otherwise the growth reported to be 1.8%.

According to (BEA) Bureau of Economic Analysis, Trading economics – Bloomberg – Thank you.

“The current GDP growth is 2.40%, with Growth rate – 1.60%, Inflation rate – 1.20%, Jobless rate – 9.50%, Interest rate – 0.25%.”

A significant increase when compared with the negative GDP growth -6.80% in December 2008.

The economy has moved from the negative to a positive trend with a present annual growth rate at 1.60%.

Beginning 2010, the economic figures in the first and second quarters are very encouraging and attention worthy.

GDP before adjusting for inflation in Q1 (Jan – Mar) 2010 rose to 4.8% and Q2 (Apr – Jun) 2010 – 3.6%.

GDI – Gross domestic income – the individuals, private and public sector combined income reportedly increased by 2.3% annual rate for Q2, 2010 after gaining 4.1% in the first quarter – Q1, 2010.

Corporate profits after an impressive 10.5%increase in Q1, 2010, rose by 4.6% for Q2, 2010 – still maintaining the gain from Q2, 2009.

Similarly the higher earnings by 39 percent in Q2, 2010 is relatively progressive than the 2009 second quarter.

Consumer spending for Q1, 2010 – 1.9% and Q2, 2010 – 2% exceeding the previously expected 1.6% pace for the second quarter.

Wages and salaries for Q1, 2010 increased by $6.5billion from the fourth quarter i.e. Q4, 2009.

Company inventory in Q2, 2010 was 0.65% against 2.64% for Q1, 2010. However, the business capital expenditure on structures, equipment had surpassed the prior projection of 22 percent to 24.9 percent.

Trade gap seemingly grew to $445 billion for Q2, 2010 in excess of the previous estimate at $425.9 billion confirming the import level at 32.4%.

It’s clear from the data that the economy in 2010 is comparatively a vast improvement to 2008.

The modest annual rate 1.60% is attributed to numerous factors:

Despite 39 percent increase in 2010 second quarter corporate earnings, the companies have contracted inventory spending, payrolls and lowered employee wages contributing to sluggish job growth and household income reduction eventually having an impact on the economic stimuli – the consumer spending.

Consumer spending also affected by the lack luster housing and stock market performance with majority households dependent on investment income.

Notwithstanding the ripple effect on the small businesses relying on retail purchases.

In addition the rising imports at 32.4 % suggest the lagging manufacturing industry require substantial private investments to provide the anticipated jobs.

Perhaps, capital gains tax relief might incentivize corporations to promote jobs in the manufacturing and service sector. The consideration could ease the burden on Congress in extending unemployment benefits to the jobless.

Per Recovery Accountability and Transparency Board that oversees spending under American Recovery and Reinvestment Act of 2009 available at:

http://www.recovery.gov/Pages/home.aspx - Thank you.

Recovery funded jobs reported by recipients – 749,597 as of June 30, 2010.

“Job calculations are based on the number of hours worked in a quarter and funded under the Recovery Act.”

Evidently, the $787 billion has not been entirely invested in the economy to realize the immediate goals – jobs, housing and stock market appreciation to generate consumer spending and ultimately the desirable GDP growth.

Stimulus fund investment verification:

Tax Benefits:
Allocation - $288 billion
Investment - $223B /77%
Remaining Fund - $ 65B / 23%

Education, Jobless Benefits etc.:
Allocation - $224 billion
Investment - $143B / 64%
Remaining Fund - $ 81B / 36%

Contracts, Grants & Loans:
Allocation - $275 billion
Investment - $139B /51%
Remaining Fund - $136B /51%

President Barack Obama, Vice President Joe Biden and the Congressional Democrats have passed the crucial legislations to stimulate the different economic sectors.

Housing Market – Foreclosure moratorium to contain the bleeding and refinancing at affordable payments has saved homeowners from losing their homes. The documentation and eligibility cited as the reasons for the programs’ average success.

Addressing these issues would enormously benefit many homeowners and revive the housing market.

Also, the $8,000 credit to first home buyers enabled the market to rein in on falling home prices nationwide.

Therefore based on the results, extending the moratorium and first homebuyer credits, refinancing options by reviewing the eligibility criteria to include more struggling homeowners could be helpful to the housing sector.

Tax benefits: President Barack Obama and Congressional Democrats have been extremely diligent in this respect.

Tax breaks to 99% represented by average Americans, small businesses, corporations creating or saving employment, payroll taxes, tax exemption to seniors with moderate income $50,000 or less, consumer rebates and credits on home and automobile transactions – proof is in the data for 77% of the allocated stimulus fund has been invested.

The recent $26 billion bill for unemployment benefits extension and the federal aid to cash-strapped states to prevent job losses as well as essential programs termination directly influence consumer spending.

Investments in infrastructure projects such as highways and roads, the electric power grid, dams, bridges, levees, water mains and sewer systems, airport, public transportation system expansion by building new high-speed passenger rail systems were in the job creation proposal.

Although, the target is – 900,000 – 2.3 million jobs, it’s distributed across the economic spectrum ranging from green jobs, infrastructure, manufacturing and service sector to small businesses.

A bulk of it to be absorbed by the private sector contrary to the false propaganda on the alleged government take-over of the free market.

President Barack Obama’s timely intervention in the auto industry attracted criticism from the opposition.

Nonetheless, today the state of Michigan that was worst hit in the economic recession is experiencing job growth in the auto industry due to the Obama administration rescue plan.

Stimulus package has been directed towards saving multitude jobs for the beleaguered local school districts that threatened teachers’ salaries with layoffs and cutbacks,

Federal grants to make education affordable for students - Pell Grants for college education and ‘race to the top’ federal funds for schools across the nation.

Adequate medical coverage for military members and their families and $1 billion for the Veteran’s Administration - which suffered severe cutbacks under President Bush and Vice President Dick Cheney that led to the Walter Reed Army Hospital closure at the peak of Iraq and Afghanistan wars.

In an effort to care for the children and seniors - Food programs for low-income Americans, including $150 million to help refill food banks, $100 million in meals programs for seniors, and $100 million for free school lunch programs - all ignored by the former administration.

Deficit management is possible with the troop withdrawals from Iraq and Afghanistan, constrain defense expenditure, health care costs savings and economic surge producing revenues, besides optimizing GDP growth through exports.

Above all, President Barack Obama and the Democrats legislative successes are phenomenal.

Historic reforms in finance and health care in tandem with bipartisan committee on deficit control deserve recognition.

The economy, jobs and the housing market are the President and the Congressional Democrats’ priority and they continue to explore all options in expediting the economic recovery.

If not for their hard work and determination to improve American lives, the pessimistic view on the economy would have prevailed.

Congratulations! To President Barack Obama, Vice President Joe Biden, the Congressional Democrats and the selective Republican members for the milestones reached thus far and the impending legislations to move our great nation forward.

All the more reason to elect the Democrats for a super majority in the House and the Senate, so that President Barack Obama can complete the tasks in every respect, particularly accelerating the job growth, stabilizing the economy and energizing the housing market.

A great future is certain with President Barack Obama, Vice President Joe Biden and the Democrats majority in Congress.

Please visit the DNC, DSCC, DCCC and DGA websites for your generous contributions to elect the new and incumbent democrats in November 2010.

Thank you.

Congratulations! To the millions of Unemployed citizens whose jobless benefits expired in June 2010, now have the means to support them while they are looking for work.

Job search is a stressful experience in a tough economy with millions competing for fewer jobs in the job market.

The extension revival by the Democrats and two Republican Senators Olympia Snowe and Susan Collins is a saving grace for the Americans out of work and the slow economic recovery.

An estimated five million people is expected to be relieved through this measure for they will receive allowances up to 99 weeks averaging $309 a week.

The long fought legislation survived the filibuster threat despite the majority in the opposition along with a lone Democrat, Ben Nelson from Nebraska voting for it.

It appears that the newly sworn in West Virginia Democrat Senator Carte Goodwin’s vote was crucial to move forward for the final Senate approval.

The contentious issue was the $34 billion benefit extension cost being added to the $13 trillion national debt instead of being provided for with cuts in the $3.7 trillion federal budget.

Although, the national debt is a legitimate concern with a valid proposal for funding the legislation, the Republican Senators could have identified the reallocation from the $3.7 trillion federal budget if they were seriously committed in helping their unemployed constituents and the people across the nation.

However, it’s never too late to review the federal budget to eliminate wasteful spending and prioritize economic activities such as this legislation over less important or extravagant budget expenditures.

As stated earlier, job creation and sustenance is an immediate requirement and the unemployment benefit is a catalyst to stimulate consumer spending that would promote the retail industry and the small business sector, the two most significant bases contributing to the ripple effect on the manufacturing, wholesale and the service industry in the economic recession.

Expediting job growth in the retail industry and small businesses is vital for long-term economic progress.

The argument about the out-of-control spending is more appropriate in the alarming defense budget with no auditing or accountability factor. Moreover, the extraordinary investment has not delivered the desirable results thus far.

Ironically, the ‘deficit’ is not an issue in the bipartisan legislation to increase defense funding for the wars in Afghanistan, Iraq, Pakistan and Yemen including the U.S. military bases around the world.

Whereas in the economic aspect the mere existence has been challenging for many and with the opposition blocking funding to the struggling states, the current federal aid is a lifesaver besides being an economic stimulus.

Even if the economic prospect is downsized, any improvement in people’s daily life enables them to endure hardships without losing hope.

According to the latest reports, the unemployment rate in many states is on the decline.

Any attempts to jumpstart the economy would restore consumer as well as investor confidence.

Jobs, housing market and economy have a major impact on the electorate anytime more so in the election year.

Thank you.

Padmini Arhant

Less than an hour ago, the House of Representatives’ concerted effort to revive the bill extending unemployment benefits to the millions of people representing the stars and stripes fell short by three votes in the two third majority requirement.

Yea – 261 votes. Democrats – 231 and Republican – 30.

Nay – 155 votes. Democrats – 15 and Republican – 139

Not clear on the remaining single nay vote.

Despite the citizens’ plea to Congress members to pass the bill through bipartisanship,

By revealing their deteriorating economic situation due to the weak job market, severe recession and the unemployment benefits expiration,

The ‘Nay’ Sayers on both sides rejected the public plight to allow politics prevail over people’s life.

Legislation failing by three votes that could have salvaged millions from becoming homeless is a tragedy and a sad day for democracy.

Regardless of the political differences, ignoring the harsh realities experienced by the people across the nation is incomprehensible and speaks volume about the individual priority.

Perhaps, the lawmakers possessing the power to improve lives have a legitimate explanation for their action depriving the American families, the means viz. unemployment benefits and tax breaks for small businesses to cope with the dire economic crisis.

Human nature is to protect, preserve and nurture life, not aid in their destruction.

Unfortunately, the current trend is ominously in favor of the latter.

Anything that is detrimental to human existence and life threatening has overwhelming support in the political and judicial system fomented by certain news media.

On the contrary, the bills pertaining to economic recovery and legal issues on life sustenance is defeated with no concern for the consequences.

The reasons behind such decisions are usually related to personal and political ideology.

When human beings have the power to help others in their suffering and they willfully act against their conscience, it is clear that they are guided by their illusion rather than intuition.

The real joy and success is measured by the selfless activities i.e. without any expectations in return for promoting progress among the less fortunate in the society.

Any work performed for greater good often accompanied by empathy makes life worth living.

Notwithstanding the eternal bliss –

For health, wealth and power are meaningless without inner peace and happiness.

Something that cannot be achieved by superficial sources in life.

It’s a sincere hope that the Congress members in the House and the Senate elected by the people to address their needs would reconcile the disagreements with the majority and collectively resolve the national crises hurting their constituents and the citizens at large.

Thank you.

Padmini Arhant

The unemployed citizens have presented their desperate situation with the hope of getting some help.

It’s not always easy to be open and upfront to the world about one’s life.

It requires honesty. Honesty demands courage.

The citizens’ message has adequate reasons and highly inspirational, apparently a prerequisite in approaching the elected officials for their votes on life and death matter such as jobs and health related bills.

A lawmaker’s constitutional duty to serve the citizens at all times more so during critical hour is portrayed as a favor or mercy towards their subjects by the authorities and certain news media.

If these messages do not change the ‘Nay’ votes to ‘Yea,’ votes, then ‘compassion,’ and ‘righteousness’ have lost their meaning.

Meanwhile, anyone who could assist these citizens to cope with the difficult circumstances would be not only saving lives but also providing the nation with additional taxpayers through their employment.

Your kindness is much appreciated.

Thank you.

Padmini Arhant

Please read the message from the citizens pleading for survival means. Thanks again.

The URL or any other information about job sites and financial aid may be posted in response to citizens’ comment on this website against appropriate articles. Thanks again.

1.” JOE: From Why Senate must act immediately on the Unemployment Benefit Extension?,
2010/06/27 at 4:44 PM

THE REPUBLICANS FILIBUSTERED THE VOTE TO TRY TO MAKE THE DEMS LOOK BAD.

I CAN ALMOST HERE THE ANTI CAMPAIGN COMMERCIALS NOW.

This is political nonsense at its best.

THEY HAVE TO VOTE BY THIS WEEKEND BEFORE THEY GO ON VACATION (THAT’S A JOKE IN ITSELF)

I HAVE NO INCOME COMING IN, MY 26 WEEKS ENDED LAST SUNDAY.

ARE WE CHASING THE GHOST OF TOM JOAD?

I’VE BEEN KNOCKING DOWN DOORS FOR A JOB, NONE EXIST.

WITH A DAUGHTER ENTERING HER SOPHOMORE YEAR OF COLLEGE, THERE’S NO WAY TO HELP HER ALONG THE WAY. CELL PHONE DUE, RENT DUE, CAR PAYMENT DUE.

GAS TO FILL UP MY CAR. UTILITIES TO PAY.

I’M A SINGLE FATHER, I CAN’T SURVIVE WITHOUT THE EXTENSION…PRAYING THAT THE JOBS WOULD COME, BUT THAT’S LIKE ASKING A FARMER TO RAISE CROPS WITH NO WATER…

PLEASE, FOR THE LOVE OF GOD, SENATORS, GET YOUR…BACK TO WORK AND,

FIGURE OUT A WAY TO GET A BILL SIGNED. AND CREATE MORE JOBS BY YEARS END…OUR FUTURE, WITHOUT IT, IS THE GRAPES OF WRATH REVISITED ALL OVER AGAIN…”
————————————————————————————–

2. “out of benefits in Ohio:

From Senate Block Vote on Unemployment Benefits Extension and Delay Medicare Reimbursements, 2010/06/28 at 8:35 AM

To Padmini Arhant,

You are so full of it.

Congress is ignoring everyones plight.

While they spend money for big dinners and jets and cars, we the working class get to live in the streets.

I guess the ILLEGAL immigrants are more important to Washington than the citizens of the US.

Washington is spending $10.4 Billion/year on them.

Because I don’t have children at home, I can’t get medical care for my wife.

I can go to the VA but they won’t give me 2 of my meds for a heart condition because some government agency decided I didn’t need them.

Meanwhile I see drug addicts and dearlers getting all kinds of help. I hope that you never have to rely on your government to take care you….”

A warm welcome to the world leaders attending the back to back G-8 and G-20, 2010 summit in Toronto, Canada.

The G-8 summit held on Friday, June 25, 2010 appeared to focus on the common economic issues such as financial regulations, deficit reduction and economic aid to disadvantaged countries on the financial side.

International peace and security – the leaders’ discussions are expansive from Iran’s controversial nuclear program, disarmament of North Korea, war in Afghanistan, Pakistan including the tensions in the Middle East.

Also in the agenda is the African leaders outreach on economic progress.

Social issues are related to protecting women’s health viz. maternal well being and infant growth in the regions lacking in antenatal care.

It’s important to begin with the financial sector and the economy for this topic.

Congratulations! To President Barack Obama, Speaker Nancy Pelosi, Senate Majority leader Harry Reid and the Congress members for the bipartisan votes in the long overdue financial reform.

It’s a major milestone and a fresh beginning to avert future financial crisis responsible for the global economic meltdown with spiraling effects on the housing, credit and job market.

Other industrialized nations like Germany passed their financial regulation with a mandatory deficit reduction. The constitutional amendment by Germany to contain the deficit to 0.35 percent of GDP by 2016 provided the higher deficit not attributed to GDP decline is a trendsetter in curbing the economic recession.

Similarly, the United Kingdom, Japan and the hard hit economies with huge deficits are in the process of clamping down on the national debt through fiscal austerity and tax hikes.

The deficit reduction is the popular stance among the member nations in this summit.

Although, containing national debt is an immediate priority, the measures to achieve the desirable goal needs to be balanced, so that the vulnerable population like children, senior citizens and the people with disabilities or life threatening conditions are not deprived of basic services from the targeted spending cuts.

Maintenance of social services and programs availed by the citizens across the spectrum would prevent the inevitable outcome - For the elimination would lead to unsustainable economic costs impacting health, education, housing, consumer spending, states’ emergency units – fire and police departments.

Notwithstanding the potential increase in domestic crime rate that had been relatively low nationwide.

Likewise, raising taxes on health and environmentally harmful sources is a place to start due to the dual cause. It would protect the people and the habitat while generating revenue to pay off the accumulated debt.

In the United States, the legislation aimed at economic revival and federal aid to the states for essential programs is challenged by the opposition minority based on their national debt concern.

It’s a legitimate reason but the disapproval is directed at the nerve center of the society.

By denying unemployment benefits to the laid off workers and,

Blocking federal aid to the states is an erroneous decision. States’ employment would be affected leading to massive retrenchment resulting in tax revenue losses.

Already, some states have furlough hurting many American families. In addition, the states offer lifeline support to many contributing back to the system via taxes as wage earners and consumers.

Despite the reality, the ‘Nay’ vote defies logic.

There are ways to pay for these bills by reallocating the unutilized funds in defense spending and pet projects. Moreover, there cannot be anything significant than helping the workers survive and enable them to be gainfully employed yielding tax payments.

Ignoring citizens’ plight has much higher economic and political ramifications.

Therefore, the stimulus bills with guaranteed tax returns are the means to expedite economic recovery.

Since globalization is embraced as the twenty first century economic policy, the anomalies in the system beckon the world leaders’ attention.

There is an urgency to implement international labor and environmental laws binding on transnational corporations to safeguard the environment and the workers’ interest against exploitation, negligence including fair and equal compensation regardless of territories.

Even though, the child labor is banned in some developing nations, the practice is widespread in the desperate parts of the world often engaged by the established multinational companies from the industrialized nations.

Stringent strategies against financial investment firms’ speculative activities that led the Greece and the neighboring economies to the brink of collapse are quintessential in the sweeping financial overhaul.

Some have addressed the problem by enforcing strict rules on the ‘derivatives’ and hedge fund mismanagement in the financial reform. However, the global standard would strengthen the application.

Currency adjustments by the emerging economic power creating trade imbalance and subsequently influencing the rising deficit financed by the creditor is yet another matter to resolve in the present meeting.

Tax havens and withholding income from offshore investments by corporations are impediments to the struggling economies irrespective of stature. Again, cooperation from the G-20 partners facilitating such activities is to be sought on this occasion.

Clean energy to free mankind from fossil fuel and nuclear technology is crucial to replace the discriminatory civilian nuclear program paving way for nuclear proliferation.

Global terrorism and security – Coordinating with international intelligence agencies as opposed to militarization or deploying military personnel on espionage to collect information is a serious violation of the respective nations’ sovereignty. The clandestine military operation is bound to exacerbate the insurgency in the volatile regions forcing the local population to favor the militants reluctantly against the infiltrators.

The article titled “U.S. Military Espionage – Directive for Global Operation,” May 30, 2010 highlighting the inherent dangers of the provocative activities, was presented under the “National and Global Security,” category on this website for further understanding.

International Peace Agreements – Unanimous condemnation of Iran and North Korea nuclear capabilities and belligerent displays against neighbors is a positive step.

Similarly it should be extended to allies violating human rights through illegal invasion and occupation of land, prominently Israel and China viewed by the international community as the U.S and Europe’s ‘turn a blind eye,’ foreign policy.

Actions are effective and meaningful when they are universal and not selective in the enforcement.

Other nations like Thailand cracking down on civilian population with military might in public square deserve international isolation for successfully thwarting the democratic uprising against abuse of power.

Democracy has become a token political system undermined by excessive military involvement and constitutional monarchy as seen in Thailand.

Burma/Myanmar belongs to the league in brutality against its citizens by the military junta reportedly occupied with the nuclear activity.

Worldwide nuclear disarmament is the course to pursue for global peace.

In other humanitarian issues – whether it is women’s rights, social justice or dealing with hunger, poverty and disease, they are all related to the political power governing the nations.

United States, EU, United Nations, Arab countries and emerging economic powers have a decisive role in promoting democracy, peace, human rights, economic and social progress by remaining impartial and committed towards the noble mission.

Best Wishes to G-8 and G-20 nations attending the 2010 summit.

Thank you.

Padmini Arhant

On Thursday, June 24, 2010, the Republican Senators unanimously voted against the jobless benefit and job creation bill that could have not only averted millions of American families from becoming homeless but also enormously boosted the small business and medium corporations with the necessary tax breaks to prevent layoffs.

Although, it comes as no surprise given the GOP Senators track record on any legislation since 2009 that has been passed with predominantly Democrats votes,

This particular legislation was aimed at economic revival and providing relief to the long term unemployed workers laid off due to corporate downsizing in a bad economy.

The GOP members’ decision against the life saving and economic recovery bill has the following consequences.

According to the Senate Democrats:

“The demise of the bill means that unemployment benefits will phase out for more than 200,000 people a week.

Governors who had been counting on federal aid will now have to consider a fresh round of budget cuts, tax hikes and layoffs of state workers.

This is a bill that would remedy serious challenges that American families face as a result of this Great Recession,” said Max Baucus, D-Mont. the chief author of the bill.

This is a bill that works to build a stronger economy. This is a bill to put Americans back to work.”

Essentially, the Republican Nay Sayers have successfully exacerbated the joblessness, economic recession and contributed to the state workers massive retrenchment.

All under the pretext of reducing national deficit, when in fact their partisanship has escalated unemployment depriving the economy of taxpayers to reduce the national debt.

Such bizarre political pitch is a direct assault on the American taxpayers-cum-electorates’ intelligence, besides adding insult to their injury.

Their fiscal policy – “Penny wise and pound foolish,” has been a miserable failure thus far.

The Republican lawmakers’ sudden consciousness for fiscal responsibility has come ten years late.

Only had they been conservative with the wayward spending during the period they were in control of the executive and legislative branch by reining in on the Bush-Cheney Machiavellian economic and war policy that has led to the status quo worldwide, the current obstructionism is purely political than fiscal.

Again, the Republican members’ misplaced priority in their approval of illegal wars that has bankrupted the economy and claimed over million lives juxtaposed to them rejecting the job creation bills guaranteed to reverse unemployment and vastly improve American lives is oxymoron.

The voters attention towards GOP systemic sabotage of American living standards is imperative, especially in November 2010.

The recent polls revealing the GOP lead in spite of their strong opposition to American progress is indicative of the lack of public awareness and selective media false propaganda.

Not to mention the inherent dangers of electing the Republican candidates determined to erase the dwindling middle class with an utter disregard for the lower income families.

It’s time for every unemployed individual hurting from the severe job loss and economic crisis – the Republican administration’s legacy to American families, to rise to the occasion and demand that the Republican members in the Senate honor their constitutional oath to serve the American interest and not their specific political agenda.

The GOP Senators’ dismissal of the American families represented by their own base along with the independent voters speaks volume about their commitment to drive the once thriving nation to oblivion.

Unequivocally, they prevailed in the past decade leading the nation to the point of diminishing return.

American democracy taken for granted and the disturbing polls suggest the GOP political maneuvering to stay ahead by distortion, while their performance in the Senate has been detrimental to Americans across the political spectrum.

The 200,000 jobless benefit recipients denied survival means by GOP Senators should dissent the gridlock and insist they deliver the votes required in the jobless benefit extension and every other legislation.

Regardless, the people should rally behind the Democrats at the State and national level, for they are the only hope in alleviating the burden on the American workforce and taxpayers.

Please send your affordable donations to the Democratic Party - DNC, DCCC and DSCC in Washington D.C. and help them secure supermajority in both houses of Congress to set the great nation, the United States of America back in motion.

The grassroots movement can make it possible as witnessed in 2008.

All those individuals affected by the economy and struggling to make ends meet need to turn the tide by replacing the GOP Senate filibuster with Democrats active participation for personal and national good.

Complacency to GOP tradition - stall and kill the bill is equivalent to rendering democracy powerless.

Meanwhile, the Medicare bill delaying the proposed 21 percent cuts in payments to doctors until November 2010 was passed as a stopgap measure to rescue the senior citizens and the disabled patients.

The bipartisan agreement to increase payments to providers by 2.2 percent is a temporary aid to the Medicare program beneficiaries.

Nevertheless, the partial legislation is appreciative.

Needless to state that the unemployment benefits extension would have salvaged the approximately two million families declined help by killing this bill.

Politics discrediting and attempting to weaken the target using the suffering population as pawn is counterproductive.

As stated on numerous occasions, negative emotions hurt the ones harboring more than the ones it is aimed at.

Real intentions behind any destructive course become known for truth cannot be camouflaged.

Nation flourish on solidarity among the powerful with the power to improve lives not the contrary.

Thank you.

Padmini Arhant

From: An Unemployed Mother in her comment to the earlier published article :

“Senate Block Vote on Unemployment Benefits Extension and Delay Medicare Reimbursements,”

unemployedmother: 2010/06/23 at 7:16 PM:

“You are missing one key point. The longer the senate waits to vote on this, the more people, including myself and my two sons, will have been made homeless because we cannot pay the rent. I have no money, my phone was cut off due to unpaid bill, my electricity will be next, but that doesn’t matter, I will have no home. Without a home, how are we supposed to vote…for we will have no known address.”

Moment of Reflection: By Padmini Arhant

To the Republican Senators and others stalling the legislation:

How many more victims must come forward pleading for help?

How long must they endure the political stalemate, ultimately affecting the suffering population?

Failure to vote in the legislation such as the unemployment benefits to the laid off workers for no fault of their own and the millions having become homeless in the miserable economy, the Bush-Cheney legacy to the American families - is negligence of constitutional responsibility.

Lawmakers are elected to act on behalf of their constituents and citizens across the nation on all of these issues.

Instead, the GOP members are pledged to ignore the voice of the people, assuming them to be a mere formality in the political process.

If the gridlock continues, it would be detrimental to the political party espousing the undemocratic strategy.

People are fed up of the political shenanigans displayed in every legislation rendering Congress, the republic’s chief representative in a democracy, a malfunctioned authority.

Hopefully, the Senators especially the Republican members will pay attention to the rising temperature among the exhausted population awaiting the opportunity to replace those who don’t deliver with the candidates dedicated to the people electing them to power in a democracy.

Time is running out for the legislators determined to widen the gap between the haves and the have-nots.

The hurting population are anxiously waiting to end the Washington tradition i.e. stall, filibuster and kill the bill.

Not anymore, for the citizens are energized to eliminate inaction and reinstate action in Washington, come November 2010.

Thank you.

In the past week, the United States Senate was presented with the two most important bills directly affecting the average Americans survival.

According to the reports, the GOP rejected the $24 billion aid to the long-term unemployed citizens in the cash-strapped state governments and the several tax breaks renewal for businesses and individuals.

Apparently, the 56-40 vote on June 17, 2010 fell short of four votes to avoid GOP filibuster. Without any Republican votes for the measure, the Nebraskan Democrat Senator Ben Nelson along with the Connecticut Independent Senator Joe Lieberman contributed to the filibuster.

Today, the Ohio Senators’ repeat attempt to revive the bill by emphasizing on the urgency of this extension remained unsuccessful.
————————————————————————————————–
Per: http://www.wkyc.com/news/local/news_article.aspx?storyid=138410&catid=3 – Thank you.

Ohio’s Democratic U.S. Sen. Sherrod Brown told fellow Senators that “more than 57,000 Ohioans — about the size of Elyria, Ohio or Mansfield, Ohio or twice the size of Zanesville — more than 57,000 Ohioans are estimated to have lost unemployment benefits since the extension ended in May, a month ago.”

“If the Senate does not pass an extension, that number will increase dramatically. More than 90,000 Ohioans could lose their benefits by the end of June. That is more people than live in Youngstown, more people than live in Springfield, more people than live in Cleveland Heights or Lakewood.”

Brown said that, nationwide, since the beginning of June, some 900,000 workers have run out of jobless benefits. That number will surpass 1 million by the end of this week.

Brown said today that he is very disappointed by the obstructionists’ moves to stop the extension of benefits.

“Senate Republicans are denying tens of thousands of Ohioans — and thousands of people in New Hampshire and hundreds of thousands of people in California and Texas and Florida — the Republicans are denying tens of thousands of Ohioans the unemployment insurance benefits they have earned during years of hard work,” Brown told fellow Senators.

“I ask my Republican colleagues who consistently vote no to try to empathize with those who have less privileges than we do, who don’t have huge staffs and don’t have a good salary and don’t have good insurance and don’t have a secure place to live, what their lives would be like if any one of us lost all of those privileges. I think it would make a difference in how they vote.”
————————————————————————————————-

Perspective – By Padmini Arhant

It’s evident from the Ohio Senators’ case scenario that the situation is dire for the citizens in many states with higher unemployment.

Denying thousands of workers the means to cope with the economic recession amid rising or stagnant joblessness under the pretext of national debt or demanding that they are paid for prior to approval is a misplaced priority.

Where the Republican members should be arguing for the prepaid funding is, unnecessary wars such as Iraq and now Afghanistan including the perilous offshore drilling contributing to colossal costs witnessed at present.

It’s common knowledge that the GOP members and the few Democrats against the bill have willfully authorized the defense funding for the prolonged wars and claim no objection to the environmental damages via offshore drilling…

The Nay Sayers fail to recognize the consequences of their action or the lack thereof, leading up to the status quo exacerbation.

When the national figure for jobless benefit is expected to reach a million by the end of this week, the complacency is the affirmation of the elitist least bothered about the populist plight.

Ignoring the struggling families’ desperate economic needs based on partisanship more than fiscal responsibility is politics superseding national interest.

Although, the estimated $13 trillion national debt is a legitimate cause, the divestments from other sources with excess budget allocation including the pork barrel spending could be utilized for this important legislation.

Citizens cannot be possibly deprived of existence in the worst economy and the Republican lawmakers’ argument in this respect does not bode well, considering the positioning is purely aimed at winning conservative support in 2010 elections.

As for the isolated democrats and the independent Senator Joe Lieberman, the clock is ticking with the diminishing public patience on all issues. The proof of the pudding is in the electoral outcome.

Increased awareness and harsh experience by the electorate is a political gamble for the incumbents and the new challengers in the coming election.

People are tired of gridlock and, the ominously missing empathy among the obstructionists is a blatant dismissal of the economic reality endured by the voters.

Therefore, the ideal strategy to resolve the bill passage would be to identify the redundant funds in the fiscal budget and reallocate them for the unemployment benefit extension as well as the retrospective Medicare payments towards health care service.

Regarding the Medicare decrease in doctor payments: The belated Senate vote to spare doctors a 21 percent cut in Medicare payments is proved to have escalated the administrative costs for the providers and the taxpayers.

Much to the AMA (American Medical Association) frustration and AARP, the seniors’ lobby disappointment, the Congressional delay in the particular legislation is stated to affect the large health care program availed by 46 million elderly and disabled people.

Further, the claims processed at the lower rate are forcing many physicians to stop accepting Medicare patients while others considering dropping out of the Medicare program.

The cut appears to have had a direct impact on the billings for the early part of the month because of the Congressional reprieve expiry on May 31, 2010.

Seemingly, the lawmakers’ failure to act earlier is drastically hurting doctors’ cash flow and subsequently the beneficiaries, i.e. the most vulnerable groups in the society – the senior citizens and the disabled population, who also happen to be the nation’s substantial voting bloc.

It is obvious from the facts and legislative events that the representatives declining to vote on the pivotal legislations viz. unemployment benefit extension and Medicare payments to doctors attending to seniors and disabled patients are adding to the national debt crisis rather than alleviating the taxpayers’ burden.

GOP Senators and the Democrats aligning with the Republican members in the voting process are miscalculating the fiscal ramifications and the inevitable political price for their decisions.

It’s essential for the victims in these two vital legislations to distinguish between those who represent the people from the ones’ sworn allegiance to the special interests – health insurance industry and the likes.

Please remember that ‘Change is made possible by the people.’

For the voters have the ultimate power in a democracy.

Thank you.

Padmini Arhant

Please refer to the details laid out in the preceding articles from other news organizations published on this website under the title ‘Mortgage Refinance and Foreclosures.’

Information is also available in the article, @www.mercurynews.com

“By Sue McAllister – San Jose Mercury News, Saturday, March 27, 2010 – Thank you.

“Titled – Debt Relief – Mortgage program: Who will benefit?

Answers to how the federal plan will work and whom it will help”
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Program Evaluation - By Padmini Arhant

Making Home Affordable program targets the vulnerable homeowners on the verge of losing their homes.

Mortgagees who are unemployed, underwater and delinquent in their payments could seek assistance upon they meet the criteria.

Aligning mortgage debt with the asset value in order to help people retain ownership is a prudent measure to stabilize the struggling housing market.

It’s evident from these news reports that the program is well intended but the burden rests on the taxpayers through,

Federal Housing Administration insured loans absorbing the entire risk on potential loan default,

And,

Incentives to lenders to reduce principal value for the underwater and unemployed customers provided from the TARP funds…

The finance sector responsible for the subprime mortgage crisis is exempt from any liability.

On the contrary, they are being coerced with the federal funding that appears to be inadequate to rescue the vast majority from foreclosures and loan qualifications.

Federal programs or reform requires oversight to ensure the rules adherence by the industry.

Again, an independent / non-profit consumer rights agency is appropriate to avoid the conflict of interest.

As stated by the consumer advocates, the bankruptcy procedure for loan modifications is more reliable than the service offered by the federal partnership with lenders.

When a particular method is not yielding the desirable results, it is best to choose the option with a positive outcome.

Since the rules are ignored by the industry, setting consequences for non-compliance is an effective approach to limit the program failure.

If the borrowers are subject to terms and conditions then it should be applicable to the lenders as well.

Finally, the program would be beneficial with the banks accepting a fair share of monetary obligations in the principal reduction and the refinancing structure, having been the beneficiary of taxpayer bailout.

Thank you.

Padmini Arhant

In the current economy, two major issues deserve urgent attention.

They are – unemployment and home ownership.

This topic will focus on the homeowners and the federal program under consideration to address the foreclosures arising from high mortgages.

Meanwhile, the following news report and editorial from other news organizations are presented for reference.

According to the -

1. New York Times report By David Streitfeld – Friday, March 26, 2010 – Thank you.

New help for homeowners – Revising Loan Modification

The Obama administration will announce today a broad new initiative to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments.

The escalation in aid comes as the administration is under rising pressure from Congress to resolve the foreclosure crisis, which has put millions of Americans at risk of losing their homes.

A major element of the new program, according to several sources who spoke on the condition of anonymity, will be to encourage lenders to write down the value of loans for borrowers in modification programs. Until now, modification programs have focused on lowering interest rates.

Another major element will involve the government, through the Federal Housing Administration, refinancing loans from borrowers whose home value has sunk below what they owe on it.

More than 11 million homeowners are in this position, known as being underwater.

That aspect of the plan would apply even to borrowers who have not fallen behind in their mortgage payments.

Investors who own the loans would have to swallow losses but would probably be assured of getting more in the long run than if the borrowers went into foreclosure.

The FHA would insure the new loans against the risk of default.

Many details of the administration’s plan remained unclear Thursday night, including the precise scope of the new programs and the number of homeowners likely to qualify.

This much was clear, however:

The plan could put taxpayers at increased risk.

If many additional borrowers move into FHA loans, a new downturn in the housing market could send that government agency into the red.

The FHA has already expanded its mortgage-guarantee program substantially in the last three years as the housing crisis deepened, insuring more than 6 million borrowers.

Sources said the agency would receive $14 billion in funds from the Troubled Asset Relief Program, cash it could dangle in front of financial institutions as incentives to participate in the new program.

A third element of the White House’s housing program will require lenders to offer unemployed borrowers a reduction in their payments for a minimum of three months.

An administration official declined to speak on the record about the new programs but said they would “better assist responsible homeowners who have been affected by the economic crisis through no fault of their own.”

The plan would essentially supplant the government’s earlier mortgage modification plan, announced a year ago with great fanfare.

It has resulted in fewer than 200,000 people getting permanent new loans.

As many as 7 million borrowers are seriously delinquent on their loans and at risk of foreclosure.

The news was greeted with cautious enthusiasm by groups that have tracked the foreclosure crisis and tried to assist communities and underwater homebuyers.

“It sounds really good, and I’m not used to saying that,” said Kevin Stein of the California Reinvestment Coalition in San Francisco.

He said “the two main weaknesses” of the existing federal Home Affordable Modification Program were that,

It didn’t reduce the mortgages of underwater homeowners,

And, didn’t help borrowers who were underemployed or unemployed and would have difficulty qualifying for a loan modification.

“It seems they have taken these issues to heart,” Stein said.

“It’s unclear how many people will qualify – that’s the one hesitation. We’re not sure how broadly these initiatives will reach.”

Martin Eichner, with Project Sentinel in Sunnyvale, said the proposals sound good but he would like to see the details.

“It has to help significant numbers of people and there has to be enforcement,” Eichner said.

“These plans always look great in the first news release, but we’ve often been disappointed in the performance. To the extent that lenders write down principal balances, that would be a significant improvement,” he said.

Eichner said the home affordable effort also needs an enforcement mechanism.

“Without any real consequences, day to day we see lenders ignoring what we think are pretty clear rules under the current making home affordable program,”

While the number of foreclosure-related filings is beginning to flatten or decline, the number of borrowers who are seriously distressed is rising.

In the fourth quarter, the number of households at least 90 days past due on their mortgages swelled by 270,000, according to a report issued Thursday by the Office of the Comptroller of the Currency.

“The government is seeking to persuade people to stay in their homes by aligning the mortgage debt with the asset value, which is the only viable path to real housing stability,” said one person who was briefed on the government’s plans.

Several people who described the plans would speak only on condition of anonymity, since they had not been authorized to disclose details ahead of a White House briefing scheduled for this morning.”

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2. Editorial in the Bay Area News Group – March 29, 2010 – Thank you.

www.mercurynews.com/opinion:

Titled – Foreclosure plan has carrots but needs sticks –

“Eight million households are behind in their payments or in foreclosure. But the Making Home Affordable programs has modified just 200,000 loans.

Forgive us for not jumping up and down with delight over the Obama administration’s latest plan, announced Friday, to help stem the tide of foreclosures.

The changes will help those who are unemployed, underwater or both.

But they have come so late that it’s difficult to muster much enthusiasm.

Banks participation in solving this problem has been optional for too long.

The government must require those who caused this debacle to do more to end it.

Since the foreclosure crisis began three years ago, 6.6 million families have lost their homes, according to the Center for Responsible Lending.

The problem is not getting better.

Eight million households are behind in their payments or foreclosure, and

One in five are underwater – they owe more on their mortgages than their homes are worth.

The administration’s primary tool against foreclosures, the year-old Making Home Affordable partnership with lenders, has so far modified the terms of just 200,000 loans. It is not up to this enormous task.

But the changes announced Friday have the potential to improve that record.

The program will now be open to the unemployed, who previously couldn’t qualify but are a primary victim of foreclosures.

They’ll be eligible to get up to six months’ forbearance and to have their payments lowered to reflect their reduced income, at least for a short time.

Those who owe more than their homes are worth – in California, that’s more than a third of borrowers – may finally be able to get their loan principals reduced.

This much-needed shift in approach addresses another key driver of foreclosure.

Lenders will get incentives to reduce the amount owed.

Borrowers who are current on their payments but underwater – prime candidates to walk away from their mortgages and further weaken the housing market – could refinance into a cheaper government loan.

All of this will help. But the main problem with the government effort remains:

It’s all carrots, no sticks.

Consumer advocates have been pushing Congress for years to allow bankruptcy judges to modify loan terms for primary residences, which could reduce foreclosures up to 20 percent.

The financial industry’s army of lobbyists has managed to beat back that idea, known as “cramdown,” saying it can deal with the problem on its own and through Making Home Affordable.

That’s clearly not the case, because of malice or incompetence.

It would be wonderful if politicians gave the same consideration to desperate homeowners that they do to banks.

Most everyone facing foreclosure nowadays did nothing wrong – they’re simply caught in the cascading wave that began with the subprime mortgage crisis.

The same can’t be said of the banks that got us into this mess and then took billions of taxpayer bailouts.

Allowing judges to modify loans in bankruptcy would add structure to an overwhelmed system.

Reasonable compromises worked out in court would set precedents for lenders to follow.

If they didn’t, they could be forced to by a judge.

Judges have this power for second homes.

There’s no good reason they shouldn’t have it for every home.”
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Comment – Review and Analysis is in progress and will be presented shortly.

Thank you for your patience.

Padmini Arhant