looks like a 1.65 trillion dollar deficit for the budget year

yet this is being spun as "savings"

Mr Politician...let me explain this to you...if you r in the red THERE IS NO "SAVINGS"

Let me apply a politician's concept with a simple example

I have 10,000 dollars each year to spend

For 10 years now I have spent 10,500 dollars each year

For the next ten years I will only spend 10,250 dollars

I am so proud of myself for "saving" 2500 hundred dollars



Let's use the "savings" to buy something

Obama is the one that coined the phrae "shellacking"...from your comment as to what it meant it looks like maybe ur "still in denial" Obama courting republicans proves at least Obama's denial phase is starting to end...

the "shellacking" isn't over yet.....

from the source...

The financial reform law passed last year says the fee is supposed to reflect the banks' actual costs.

yes...

"Do you operate a retail establishment? You can save bundles on processing costs by accepting debit cards with the addition of a PIN Pad.

"Processing debit/check cards as a regular credit card transaction can mean paying twice the amount for processing. By using a PIN pad for debit transactions you only pay a per transaction fee (between $0.35 and $0.55), no discount rate of any kind. Also, it should be noted that in order to ONLY incur a per transaction fee the customer MUST input their 4-digit PIN number into the PIN pad or your processing terminal (if the unit has an internal PIN pad). If the customer doesn't enter their PIN number, the typical per transaction and discount rate will be charged to those using debit cards with Visa or MasterCard logos on them (also called check cards)."

http://www.merchantseek.com/debitcard.htm

Well, it's back to the days when banks used to charge to have a debit card...you see, banks gave u that debit card free because in the past they were allowed to charge merchants a fee...but in July banks will be limited to about a 12 cent fee...about 1/3rd of what they r charging merchants now...that fee reduction due to the passsage of Frank/Dodd bill...looks like banks will now charge their customers more fees for a debit card and limit the number of times one can use them in a month...hmmm...get this...there is no reduction in merchant's fee for credit card customers...new debit card fees will be an incentive for people to use credit cards...

another failed attempt at regulation...

http://money.msn.com/saving-money-tips/post.aspx?post=2423db85-ac01-46e3-802c-6446304687a1

it don't get no more basic that planes crashing into a building...

Oh yeah u got to laugh at that stupid logic...guess it was not the gun but the bullet that killed somebody...and for sure it couldn't have been the gunman...

My all time favorite is Yellow Stream by
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I P Freelee

So how would a vote in the supreme court go>>>don't forget Obama's public scolding of the justices in his 1st state of the union speech>>>and all the democrats applauding Obama's remarks and staring at the justices>>>for upholding the 1st amendment>>>more importantly, does it matter how they rule>>>the next real vote will not come until 2012...Americans r not going to accept that they must purchase health insurance because of a "commerce clause">>>the health care bill is doa>>>one way or another if the last election proves anything it proves that>>>and the next one will too.

So he was wrong to make all those campaign promises that he could not deliver...

Maybe Obama will go for this idea...he should obtain his long form birth certificate ( ) and auction it off to the highest bidder on ebay...

http://www.youtube.com/watch?v=EEOIhLZ3Uxw

2 years ago if u'd asked Obama if he would ever imagine extending the Bush tax cuts for the wealthy he would have surely said H*ll no....the morph continues from Gitmo to military tribunals to Afghanistan to Iraq to illegals to gays...the real problem is Obama tries to fool everybody that he is doing otherwise.

While some dentists would tell nervous patients to man up during a gum-bleeding dental procedure, Dr. Marie Catherine Klarkowski of Germany takes a more creative approach to patient care.

Klarkowski bought low-cut “dirndl” dresses with tight bodices for herself and her entire staff as a way to distract patients as she performs dental work on them, Metro.co.uk reported Sunday.

Based in Munich, Klarkowski came up with the idea to don scanty attire after observing the way men drooled over waitresses dressed in dirndls.

“The most important thing for us is to take away the patients’ fear,” Klarkowski told the Austrian Times. “The sight of cleavage gets patients narcotised and distracted from the pain rather quickly.”

Klarkowski now has a third more patients, all of them male, since wearing dirndls to work.

But there are some definite drawbacks to dressing down on the job.

“It could be that the cleavage is a little distracting, but in the end it’s me who has to concentrate and the patient can perhaps think about something different and relax during the treatment,” Klarkowski said.


http://dailycaller.com/2011/01/25/german-dentist-wears-skimpy-dresses-to-calm-patients/

Some recent media reports have said small banks and credit unions are the big winners in the regulatory battle over how much revenue financial institutions should derive from the use of debit cards. (In industry terms, this is known as debit interchange revenue). Credit unions and small banks have a deserved reputation for being consumer-friendly. So logic would dictate that if you're a credit union member or a small-bank customer, you should be feeling pretty good, right?

Here's the problem. No financial institution -- and more importantly, none of the millions of Americans who use their services -- is a winner here. The coming changes to the debit card interchange rules, esoteric though they may be, are going to have real and negative consequences that will unfortunately hit consumers directly in the pocketbook.

Consumers can expect higher fees or diminished debit card services as financial institutions deal with the new reality that is expected to ensue if a regulatory proposal now being circulated by the Federal Reserve is allowed to go into effect.

The big retailers and other merchants -- who are the real winners -- claim they are going to help consumers from their end by passing their savings on in the form of lower prices because their own debit interchange costs will be lower (i.e., merchants will pay lower fees to financial institutions to cover their end of the debit card transaction). But those claims are spurious at best. In countries where these types of interchange rules have been adopted, like Australia, consumers have seen no benefit.

I hear from credit union executives and volunteer board members around the country every day. To a person, they detest the notion of having to raise or impose new fees on the people they serve. But based on how these new debit interchange rules are shaping up, they feel they have no other choice.

That goes against our normal practice. Today we calculate that consumers save about $7.3 billion a year in lower fees and better rates by using credit unions.

I'll leave it to the banks to talk about their own situation, but I can tell you first hand that, at credit unions, which are not-for-profit and designed to help everyday consumers, the Federal Reserve's proposed debit interchange rate of 12 cents (and possibly as low as 7 cents) a transaction could reduce credit unions' interchange revenue by an estimated 70%.

As not-for-profits, credit unions depend on that revenue to underwrite the cost of offering debit cards to their members. (We're member-owned cooperatives; we do not issue stock and so cannot raise money that way to fund operations as banks do.)

Deprived of so much of this needed revenue, credit unions will either have to stop offering the cards (a prospect most will resist because their members value using their debit cards) or, more likely, they will have to offset the lost income by imposing new fees on checking, debit transactions or other services. Credit unions would rather not do this. But the Fed's proposal, which implements the interchange provisions of the Dodd-Frank financial reform law, stands to leave them no recourse.

How can that possibly make credit unions or the consumers who look to them for affordable financial services 'winners'?

Proponents of the new interchange law and the Federal Reserve's proposed rules will point to the "exemption" from the new debit interchange fee schedule for banks and credit unions with under $10 billion in assets. And they will cite recent reports that VISA plans to follow a two-tier interchange fee structure when the regulations take effect this summer.

However, our concern all along has been that nothing in the law or the Fed's proposal provides a mechanism to enforce, or maintain, a meaningful two-tiered system. Even if VISA were to go forward with its plans, market forces (from the numerous debit networks or large issuers or large merchants) will likely erode the gap between the two tiers of debit revenue over time.

All of this is going to have a harmful impact on Main Street, one that ultimately will prove costly to millions of American consumers.

That is why the new 112th Congress ought to look deeper into this issue, and at a minimum hold the type of in-depth hearings that were lacking before the debit interchange provisions were tacked onto the Dodd-Frank bill at the 11th hour on the Senate floor last year.

A huge new regulatory burden, whose true costs end up falling on the shoulders of millions of consumers, cannot possibly be what the Congress intended. Consumers ought to be the winners, not the losers.

http://www.huffingtonpost.com/bill-cheney/new-interchange-rules-for_b_811091.html

Wow...just think how much richer Trump would be if he could have got same terms GM got in bankruptcy...

China is not a friend of the US and should not have been praised during President Obama's State of the Union speech Tuesday, real estate magnate Donald Trump said.

In a speech that "was mostly talk," the most disturbing part for the New York-based developer was the president's decision to praise technological and business advances in China, long an economic nemesis for the US.

"I thought the low point was when he talked about how great China was," Trump said in a CNBC interview. "To me that was inappropriate to have in this speech, especially in light of what has happened with China."

The president singled out China for the advances it made in education and held the nation up as an example for what the US should be doing.

"Meanwhile, nations like China and India realized that with some changes of their own, they could compete in this new world," Obama said. "And so they started educating their children earlier and longer, with greater emphasis on math and science.

"They're investing in research and new technologies. Just recently, China became home to the world's largest private solar research facility and the world's fastest computer."



The remarks came on the heels of a high-profile visit between Obama and Chinese President Hu Jintao in which the leaders pledged to forge closer ties. During the visit, Obama praised China for making progress on human rights and said the two nations should strive for an environment of "cooperation" and "friendly competition."

For Trump, though, the president's posture is symptomatic of the raw deal the US is getting with its international trading partners.

"I understand the Chinese, and I understand they are not a friend of this country," he said.

"We had this tremendous deficit with China last year and we had that with many other countries. We can't be doing that," he later added. "We have become a whipping post for many of the smart countries of the world."

http://www.cnbc.com/id/41270650

watch the video for Donald's ideas on trade and the US

in north carolina...the chicken crosses the road...just to prove to the possum that it can be done...l

maybe he can come up with a certificate of live residency