Fwd: American Dreams turn to nightmares...
Frances Morey
austin-ghetto-list@pairlist.net
Thu Feb 26 14:22:23 2004
--0-1241718381-1077823307=:59582
Content-Type: text/plain; charset=us-ascii
This is too horrible to even contemplate. Can this be happening at a time when the people on this list are on the cusp of retirement? I feel helpless as I witness the news that my social security has been sacrificed to homeland insecurity.
Frances
David Rubinson <rubinson@kab.com> wrote:
Date: Thu, 26 Feb 2004 08:27:47 -0500
To: (Recipient list suppressed)
From: David Rubinson
Subject: American Dreams
How much of this are we going to take ?
If there is a single immutable deal that exists between The USA and its people, it is that WE work our lives off, and WE contribute OUR share, and the USA provides money for our old age in return. That's the deal.
And now, if I can believe my eyes and ears, we are being told that the deal may be off.
Bill Graham used to say: "It's not the Money, it's the MONEY."
When you make a deal, you deliver. There is no other way.
I do what I say, you do what you say.
Period. Done.
In a marriage. love affair, or business deal- the moment that one of the partners decides to NOT live up to the deal, the wedding is OFF bro.
The test of a deal and of any relationship, is not when things are swell.
Anyone can live up to their commitments when things are swell.
Its when things are hard. It's when you may have another offer that is better- or when you have to actually give something up to fulfill your end of the bargain- that's when the true test comes.
George the Lesser knew the deal when he walked into the Saloon.
And he has betrayed us.
What amazes me most is that the ones he has most profoundly betrayed, support him most ardently.
Had he laid it all put to us, had he run on a platform of huge deficits, dollar devaluation, and dilution of our Social Security--
and given us the CHOICE- how many people would have voted for that ?
But- George does not believe in putting his cards on the table.
In this saloon, he is the one with the aces up his sleeve, and a marked deck.
We have not been given any choice-
We have been denied the fundamental rights of a Democracy.
The government has decided to spend our money on war, and not on us.
They have reneged on our deal.
They deserve to be treated like any other cheat at the table-
Thrown out into the dust, and shot in the ass.
Oh, and by the way- forget that mortgage you were going to get-
The War is going to go on for at least another milennium, so - ahhh, our money is a little low right now.
Maybe the in laws have a spare room ?
---------------------------------
washingtonpost.com
Fed Chief Urges Cut In Social Security
Future Benefits Must Be Curtailed, Greenspan Warns
excerpts. For complete text access:
http://www.washingtonpost.com/wp-dyn/articles/A7099-2004Feb25.html?referrer=email
By Nell Henderson
Washington Post Staff Writer
Thursday, February 26, 2004; Page A01
Federal Reserve Chairman Alan Greenspan warned Congress yesterday that the federal government has promised more retirement benefits than it can pay for and must consider scaling back those commitments soon to avoid damaging the economy in the future.
"I am just basically saying that we are overcommitted at this stage," Greenspan told members of the House Budget Committee as they discussed the future costs of the Social Security and Medicare systems.
Greenspan, who supported President Bush's 2001 tax cuts, again endorsed Bush's proposal to make the cuts permanent. However, he said in response to questions that raising taxes would inevitably be part of any successful effort to reduce the growing federal budget deficit. He stressed that he prefers cutting government spending as much as possible before increasing taxes.
"You don't have the resources to do it all," Greenspan said.
To curtail future spending, Greenspan urged Congress, as he has in the past, to consider cutting promised Social Security benefits to future retirees. Otherwise, he said, the growing burdens would create long-term budget deficits that would drive up interest rates and depress economic growth, making it even harder for the government to pay its bills.
Greenspan said Congress should act as soon as it can because it would take several years to convince financial markets that the actions will be effective, and because future retirees deserve enough advance warning to plan their finances accordingly. About 20 percent of the elderly rely on Social Security for all their income, the government estimates.
===
Greenspan supports permanent tax cuts:
Federal Reserve chairman Alan Greenspan said - that Congress should make President Bush's tax cuts permanent and cover the $1 trillion price by trimming future benefits in Social Security and other entitlement programs.
http://www.boston.com/business/taxes/articles/2004/02/13/greenspan_supports_permanent_tax_cuts/
washingtonpost.com
Greenspan Warns Panel On Fannie, Freddie
Mortgage Giants' Size Poses Risk, He Says
http://www.washingtonpost.com/wp-dyn/articles/A3321-2004Feb24.html
By Kathleen Day
Washington Post Staff Writer
Wednesday, February 25, 2004; Page E01
Federal Reserve Board Chairman Alan Greenspan warned Congress yesterday that the rapid growth of mortgage giants Fannie Mae and Freddie Mac poses a threat to the stability of U.S. financial markets and urged lawmakers to address the issue while the companies are healthy, rather than wait for a crisis.
In his most expansive critique of the two government sponsored enterprises, or GSEs, Greenspan told members of the Senate Banking, Housing and Urban Affairs Committee that he favors "privatizing" the companies by ending the government subsidies they enjoy in the form of lower borrowing costs and tax breaks.
Acknowledging that such action is unlikely because of the companies' influence in Congress, Greenspan said lawmakers should consider limiting the multitrillion-dollar debt the enterprises take on each year, arguing that their below-market borrowing costs encourage the GSEs to grow faster than the housing market and contribute little to their mission of promoting home ownership.
And he said Congress must revamp the Office of Federal Housing Enterprise Oversight (OFHEO), the agency that regulates the companies, to give it powers equal to bank regulators. Unlike OFHEO, bank regulators can require a riskier institution to hold more cash. Banks can also be put into receivership and be liquidated if they become insolvent.
"One of the reasons why the issue of Fannie and Freddie didn't arise earlier is they weren't large enough and didn't create a potential significant problem for the overall financial system," Greenspan said. "But they will almost surely do [so] in years ahead unless some changes are made in the structure of how these organizations function."
Spokesmen for Fannie Mae and Freddie Mac, whose chairman will testify before the Senate committee today, said they welcome efforts to strengthen federal oversight but took issue with most of Greenspan's other remarks.
"We, of course, disagree with most of his conclusions, but appreciate that he has now made his strongly held views public," said Jayne Shontell, head of investor relations for Washington-based Fannie Mae.
A Freddie Mac spokesman said that "privatizing the housing GSEs would seriously damage the finest housing finance system in the world and, ultimately, the U.S. economy."
===
CIA chief predicts war with no end:
He offered the Senate intelligence committee a bleak vision of a war on terrorism without end, in which even the destruction of al-Qa'eda would not make America safe.
http://www.informationclearinghouse.info/article5761.htm
David Rubinson
,,,, ,,,,
\\\ ///
~~~~~~~~~~{ô¿ô}~~~~~~~~~~~~~~~~~
~~~~~~~~~~( . ) ~~~~~~~~~~~~~~~~~
:::::::::::::::::: ooo:::ooo :::::::::::::::::::::::::::::::::::::::::::::
:::::::::::::::::: ( ) :::( )::::::::::::::::::::::::::::::::::::::::::::
( ) ( )
in J A M A I C A
YAH !! MON !!
Quote of The Day
"As far as we're concerned, we've been entirely successful. Our objective has been achieved. That tyrant Saddam is gone, and the Americans are in Baghdad. What was said before is not important."
Ahmad Chalabi, President, Iraq Governing Council
---------------------------------
Do you Yahoo!?
Get better spam protection with Yahoo! Mail
--0-1241718381-1077823307=:59582
Content-Type: text/html; charset=us-ascii
<DIV>This is too horrible to even contemplate. Can this be happening at a time when the people on this list are on the cusp of retirement? I feel helpless as I witness the news that my social security has been sacrificed to homeland insecurity.</DIV>
<DIV>Frances</DIV>
<DIV><BR><BR><B><I>David Rubinson <rubinson@kab.com></I></B> wrote:</DIV>
<BLOCKQUOTE class=replbq style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">Date: Thu, 26 Feb 2004 08:27:47 -0500<BR>To: (Recipient list suppressed)<BR>From: David Rubinson <RUBINSON@KAB.COM><BR>Subject: American Dreams<BR><BR><FONT size=3>How much of this are we going to take ?<BR>If there is a single immutable deal that exists between The USA and its people, it is that WE work our lives off, and WE contribute OUR share, and the USA provides money for our old age in return. That's the deal.<BR>And now, if I can believe my eyes and ears, we are being told that the deal may be off.<BR>Bill Graham used to say: "It's not the Money, it's the MONEY."<BR>When you make a deal, you deliver. There is no other way.<BR>I do what I say, you do what you say.<BR>Period. Done.<BR>In a marriage. love affair, or business deal- the moment that one of the partners decides to NOT live up to the deal, the wedding is OFF bro.<BR>The test of a deal and of any
relationship, is not when things are swell.<BR>Anyone can live up to their commitments when things are swell.<BR>Its when things are hard. It's when you may have another offer that is better- or when you have to actually give something up to fulfill your end of the bargain- that's when the true test comes.<BR>George the Lesser knew the deal when he walked into the Saloon.<BR>And he has betrayed us.<BR>What amazes me most is that the ones he has most profoundly betrayed, support him most ardently.<BR>Had he laid it all put to us, had he run on a platform of huge deficits, dollar devaluation, and dilution of our Social Security--<BR>and given us the CHOICE- how many people would have voted for that ?<BR>But- George does not believe in putting his cards on the table.<BR>In this saloon, he is the one with the aces up his sleeve, and a marked deck.<BR>We have not been given any choice- <BR>We have been denied the fundamental rights of a Democracy.<BR>The
government has decided to spend our money on war, and not on us.<BR>They have reneged on our deal.<BR>They deserve to be treated like any other cheat at the table-<BR>Thrown out into the dust, and shot in the ass.<BR>Oh, and by the way- forget that mortgage you were going to get- <BR>The War is going to go on for at least another milennium, so - ahhh, our money is a little low right now.<BR>Maybe the in laws have a spare room ?<BR>
<HR>
</FONT><FONT face=arial size=2><B>washingtonpost.com</B> <BR></FONT><FONT size=5><B>Fed Chief Urges Cut In Social Security</B></FONT><FONT size=3> <BR><B>Future Benefits Must Be Curtailed, Greenspan Warns <BR></B>excerpts. For complete text access:<BR><A href="http://www.washingtonpost.com/wp-dyn/articles/A7099-2004Feb25.html?referrer=email" eudora="autourl">http://www.washingtonpost.com/wp-dyn/articles/A7099-2004Feb25.html?referrer=email<BR><BR></A></FONT><FONT size=2>By Nell Henderson<BR>Washington Post Staff Writer<BR>Thursday, February 26, 2004; Page A01 <BR><BR></FONT><FONT size=3><B>Federal Reserve Chairman Alan Greenspan warned Congress yesterday that the federal government has promised more retirement benefits than it can pay for and must consider scaling back those commitments soon to avoid damaging the economy in the future.<BR><BR>"I am just basically saying that we are overcommitted at this stage," Greenspan told members of the House Budget Committee as they discussed the
future costs of the Social Security and Medicare systems.<BR><BR></B>Greenspan, who supported President Bush's 2001 tax cuts, again endorsed Bush's proposal to make the cuts permanent. However, he said in response to questions that raising taxes would inevitably be part of any successful effort to reduce the growing federal budget deficit. He stressed that he prefers cutting government spending as much as possible before increasing taxes. <BR><BR><B>"You don't have the resources to do it all,"</B> Greenspan said. <BR><BR><B>To curtail future spending, Greenspan urged Congress, as he has in the past, to consider cutting promised Social Security benefits to future retirees. Otherwise, he said, the growing burdens would create long-term budget deficits that would drive up interest rates and depress economic growth, making it even harder for the government to pay its bills.<BR><BR></B>Greenspan said Congress should act as soon as it can because it would take several years to convince
financial markets that the actions will be effective, and because future retirees deserve enough advance warning to plan their finances accordingly. About 20 percent of the elderly rely on Social Security for all their income, the government estimates.<BR><BR>===<BR></FONT><FONT size=4><B>Greenspan supports permanent tax cuts: <BR><BR></B></FONT><FONT size=3>Federal Reserve chairman Alan Greenspan said - that Congress should make President Bush's tax cuts permanent and cover the $1 trillion price by trimming future benefits in Social Security and other entitlement programs.<BR><A href="http://www.boston.com/business/taxes/articles/2004/02/13/greenspan_supports_permanent_tax_cuts/" eudora="autourl">http://www.boston.com/business/taxes/articles/2004/02/13/greenspan_supports_permanent_tax_cuts/<BR></A> <BR></FONT><FONT face=arial size=2><B>washingtonpost.com</B> <BR><BR></FONT><FONT size=5><B>Greenspan Warns Panel On Fannie, Freddie</B></FONT><FONT size=3> <BR>Mortgage Giants'
Size Poses Risk, He Says <BR><A href="http://www.washingtonpost.com/wp-dyn/articles/A3321-2004Feb24.html" eudora="autourl">http://www.washingtonpost.com/wp-dyn/articles/A3321-2004Feb24.html<BR><BR></A></FONT><FONT size=2>By Kathleen Day<BR>Washington Post Staff Writer<BR>Wednesday, February 25, 2004; Page E01 <BR><BR></FONT><FONT size=3>Federal Reserve Board Chairman Alan Greenspan warned Congress yesterday that the rapid growth of mortgage giants Fannie Mae and Freddie Mac poses a threat to the stability of U.S. financial markets and urged lawmakers to address the issue while the companies are healthy, rather than wait for a crisis.<BR><BR><B>In his most expansive critique of the two government sponsored enterprises, or GSEs, Greenspan told members of the Senate Banking, Housing and Urban Affairs Committee that he favors "privatizing" the companies by ending the government subsidies they enjoy in the form of lower borrowing costs and tax breaks.<BR><BR></B>Acknowledging that such
action is unlikely because of the companies' influence in Congress, Greenspan said lawmakers should consider limiting the multitrillion-dollar debt the enterprises take on each year, arguing that their below-market borrowing costs encourage the GSEs to grow faster than the housing market and contribute little to their mission of promoting home ownership.<BR><BR>And he said Congress must revamp the Office of Federal Housing Enterprise Oversight (OFHEO), the agency that regulates the companies, to give it powers equal to bank regulators. Unlike OFHEO, bank regulators can require a riskier institution to hold more cash. Banks can also be put into receivership and be liquidated if they become insolvent.<BR><BR>"One of the reasons why the issue of Fannie and Freddie didn't arise earlier is they weren't large enough and didn't create a potential significant problem for the overall financial system," Greenspan said. "But they will almost surely do [so] in years ahead unless some changes
are made in the structure of how these organizations function."<BR><BR>Spokesmen for Fannie Mae and Freddie Mac, whose chairman will testify before the Senate committee today, said they welcome efforts to strengthen federal oversight but took issue with most of Greenspan's other remarks.<BR><BR>"We, of course, disagree with most of his conclusions, but appreciate that he has now made his strongly held views public," said Jayne Shontell, head of investor relations for Washington-based Fannie Mae.<BR><BR><B>A Freddie Mac spokesman said that "privatizing the housing GSEs would seriously damage the finest housing finance system in the world and, ultimately, the U.S. economy."<BR><BR></B>===<BR><BR><B>CIA chief predicts war with no end: <BR><BR></B>He offered the Senate intelligence committee a bleak vision of a war on terrorism without end, in which even the destruction of al-Qa'eda would not make America safe.<BR><A href="http://www.informationclearinghouse.info/article5761.htm"
eudora="autourl">http://www.informationclearinghouse.info/article5761.htm<BR><BR></A><X-SIGSEP>
<P></X-SIGSEP> </FONT><FONT face="Lucida Handwriting" size=3><B>David Rubinson<BR></B></FONT> <B>,,,, ,,,,<BR></B> \\\ ///<BR><FONT color=#0000ff size=3>~~~~~~~~~~</FONT><FONT color=#800000 size=3><B>{</FONT><FONT size=3>ô</FONT><FONT color=#800000 size=3>¿</FONT><FONT size=3>ô</FONT><FONT color=#800000 size=3>}</B></FONT><FONT color=#0000ff size=3>~~~~~~~~~~~~~~~~~<BR>~~~~~~~~~~</FONT><FONT color=#800000 size=4><B>( . )</B></FONT><FONT color=#800000 size=3> </FONT><FONT color=#0000ff size=3>~~~~~~~~~~~~~~~~~<BR> :::::::::::::::::: </FONT><FONT color=#800000 size=2><B>ooo</B></FONT><FONT color=#0000ff size=3>:::</FONT><FONT color=#800000
size=2><B>ooo</FONT><FONT size=2> </B></FONT><FONT color=#0000ff size=3>:::::::::::::::::::::::::::::::::::::::::::::<BR> :::::::::::::::::: </FONT><FONT color=#800000 size=2><B>( )</FONT><FONT size=2> </B></FONT><FONT color=#0000ff size=3>:::</FONT><FONT color=#800000 size=2><B>( )</B></FONT><FONT color=#0000ff size=3>::::::::::::::::::::::::::::::::::::::::::::<BR></FONT><FONT size=3> </FONT><FONT color=#800000 size=2><B>( )</B> </FONT><FONT size=2> </FONT><FONT color=#800000 size=2><B>( )<BR><BR> <BR></FONT><FONT size=4> in J A M A I C A <BR> YAH !! MON !!</B></FONT><FONT size=3>
<BR><BR>Quote of The Day<BR><BR><B>"As far as we're concerned, we've been entirely successful. Our objective has been achieved. That tyrant Saddam is gone, and the Americans are in Baghdad. What was said before is not important." <BR><BR>Ahmad Chalabi, </B><I>President, Iraq Governing Council</I> </FONT></P></BLOCKQUOTE><p><hr SIZE=1>
Do you Yahoo!?<br>
Get better spam protection with <a href="http://us.rd.yahoo.com/mailtag_us/*http://antispam.yahoo.com/tools">Yahoo! Mail</a>
--0-1241718381-1077823307=:59582--