Category : Office of the President

(USA Today) Stephen Prothero–A Mormon moment

On the final exam for an American religion class I taught this spring, I asked my Boston University students to offer Mitt Romney some unsolicited advice on how to talk to the American public about his Mormon faith.

He needs it. In many respects, Mormons have become quintessentially American, yet “gentiles” (as Mormons call the rest of us) remain wary. Evangelicals often view the Church of Jesus Christ of Latter-day Saints as an unchristian “cult,” and many liberals are at least as uncomfortable with the idea of a Mormon president. What to do?

Most of my students told me that the former Massachusetts governor could not sidestep “TMT,” as his 2008 presidential team referred to “That Mormon Thing.” He should discuss his faith in a heartfelt manner. But he should steer clear of its controversial history and unusual beliefs and rituals. What is to be gained from addressing Mormons’ rejection of the Trinity, their baptisms of dead Holocaust victims, or their founder Joseph Smith (who also ran for president)? Romney should emphasize morality instead, my students said, underscoring the convergence of Mormonism and Christianity on “family values.”

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Mormons, Office of the President, Other Faiths, Politics in General, Religion & Culture

Romney’s [Mormon] Faith, Silent but Deep

When Mitt Romney embarked on his first political race in 1994, he also slipped into a humble new role in the Mormon congregation he once led. On Sunday mornings, he stood in the sunlit chapel here teaching Bible classes for adults.

Leading students through stories about Jesus and the Nephite and Lamanite tribes, who Mormons believe once populated the Americas, and tossing out peanut butter cups as rewards, Mr. Romney always returned to the same question: how could students apply the lessons of Mormon scripture in their daily lives?

Now, as the presumptive Republican nominee for president, Mr. Romney speaks so sparingly about his faith ”” he and his aides frequently stipulate that he does not impose his beliefs on others ”” that its influence on him can be difficult to detect….

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Children, Marriage & Family, Mormons, Office of the President, Other Faiths, Politics in General, Religion & Culture

(Washington Post) Robert J. Samuelson–The real lesson from JPMorgan

It’s a teachable moment, but what’s the right lesson? Already, the $2 billion-plus trading debacle at JPMorgan Chase has inspired a powerful storyline. Nothing has changed since the financial crisis, it’s said. Big banks remain out of control, gambling recklessly. If Jamie Dimon’s bank, reputed to be one of the best-managed, can get into trouble, what can we expect of the others? Government regulations and regulators need to be tougher to counteract bankers’ greed and incompetence.

The storyline is marred only by this: Everything in it is exaggerated, misleading or wrong.

Let’s take stock. Here are four propositions that defy conventional wisdom.

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Posted in * Economics, Politics, Corporations/Corporate Life, Credit Markets, Economy, House of Representatives, Office of the President, Politics in General, Senate, Stock Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(RNS) Black churches conflicted on Obama’s Same Sex Marriage decision

Bishop Timothy Clarke, head of the First Church of God, a large African-American church with a television ministry in Columbus, Ohio, was perhaps most typical. He felt compelled to address the president’s comments at a Wednesday evening service and again Sunday morning. He was responding to an outpouring of calls, emails and text messages from members of his congregation after the president’s remarks.

What did he hear from churchgoers? “No church or group is monolithic. Some were powerfully agitated and disappointed. Others were curious ”” why now? to what end? Others were hurt. And others, to be honest, told me it’s not an issue and they don’t have a problem with it.”

What did the bishop tell his congregation? He opposes gay marriage. It is not just a social issue, he said, but a religious one for those who follow the Bible. “The spiritual issue is ground in the word of God.”

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, --Civil Unions & Partnerships, Marriage & Family, Ministry of the Laity, Ministry of the Ordained, Office of the President, Parish Ministry, Politics in General, President Barack Obama, Religion & Culture, Sexuality

(Christianity Today) How Evangelicals Have Shifted in Public Opinion on Same-Sex Marriage

Polls show a significant difference in results depending on how they ask about same-sex marriage, especially when it’s framed as a “right” compared to when it’s framed as supporting marriage between a man and a woman. The difference in wording can create about a 12 percentage point difference.

The federally-funded General Social Survey has asked about the public’s views toward homosexual relationships for decades, revealing how attitudes have shifted over time. In 1988, the two-thirds of white Americans believed that “sexual relations between two adults of the same sex” was “always wrong,” including 85 percent of born-again Christians. By 2010, both groups began to accept same-sex relationships. Born-again Christians still opposed homosexuality, but they answered the questions the same way non-believers answered in the 1980s. In 2010, two-thirds of evangelicals believed that homosexuality is “always wrong,” compared to just 30 percent of others.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --Civil Unions & Partnerships, Evangelicals, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Sexuality

(Washington Post) Taxmageddon sparks rising anxiety

Defense contractors have slowed hiring. Tax advisers are warning firms not to count on favorite breaks. And hospitals are scouring their books for ways to cut costs.

Across the U.S. economy, anxiety is rising about the potential for widespread disruptions after the November election, when a lame-duck Congress will have barely two months to resolve a grinding standoff over taxes and spending.

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Posted in * Economics, Politics, Budget, Consumer/consumer spending, Corporations/Corporate Life, Economy, House of Representatives, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Office of the President, Personal Finance, Politics in General, Senate, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The National Deficit, The U.S. Government

(NY Times) Unions That Divide: Churches Split Over Same Sex Marriage

At a black Pentecostal church in Raleigh, N.C., the Rev. Patrick Wooden entered the sanctuary on Sunday to a standing ovation, exulting that God’s “high hand” had led voters last week to pass a statewide amendment banning same-sex marriage. He took to the pulpit and denounced President Obama for taking a stand “in support of sin,” and “in opposition to the biblical model of marriage.”

A thousand miles away, at a predominantly white, Lutheran church in Madison, Wis., where a rainbow banner greets churchgoers arriving for services, the Rev. Susan Schneider preached that gay men and lesbians were included when Jesus commanded his followers to love one another: “Knocking down the walls is what Jesus was after.”

Mr. Obama’s declaration last week that he supports same-sex marriage prompted ministers around the country to take to their pulpits on Sunday and preach on the issue. But in the clash over homosexuality, the battle lines do not simply pit ministers against secular advocates for gay rights. Religion is on both sides in this conflict. The battle is actually church versus church, minister versus minister, and Scripture versus Scripture.

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Posted in * Culture-Watch, * Economics, Politics, --Civil Unions & Partnerships, Law & Legal Issues, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Sexuality

Cardinal Dolan: President Obama's Remarks on Marriage 'Deeply Saddening'

From here:

President Obama’s comments today in support of the redefinition of marriage are deeply saddening. As I stated in my public letter to the President on September 20, 2011, the Catholic Bishops stand ready to affirm every positive measure taken by the President and the Administration to strengthen marriage and the family. However, we cannot be silent in the face of words or actions that would undermine the institution of marriage, the very cornerstone of our society. The people of this country, especially our children, deserve better. Unfortunately, President Obama’s words today are not surprising since they follow upon various actions already taken by his Administration that erode or ignore the unique meaning of marriage. I pray for the President every day, and will continue to pray that he and his Administration act justly to uphold and protect marriage as the union of one man and one woman. May we all work to promote and protect marriage and by so doing serve the true good of all persons.

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --Civil Unions & Partnerships, Marriage & Family, Office of the President, Other Churches, Politics in General, Pope Benedict XVI, President Barack Obama, Religion & Culture, Roman Catholic, Sexuality

(CNS) Student loan debate: Combined course in economics, political science

Congressional lawmakers seem to agree on two things: College student loan debt is out of control and something should be done about it.

Where they disagree is how to solve the problem. Currently they are looking at one piece of this puzzle: how to keep a lower interest rate on federally subsidized undergraduate student loans for low- and middle-income students which is set to double to 6.8 percent this June.

Isaiah Toney, a senior at George Washington University in Washington, said he is “extraordinarily happy” this issue is being raised, but he thinks the discussion has been too narrow.

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Posted in * Culture-Watch, * Economics, Politics, Economy, Education, House of Representatives, Office of the President, Personal Finance, Politics in General, Senate, Young Adults

(Washington Post) J P Morgan losses reignite clash between Wall Street and Washington

That the losses would only dent the quarterly profits at one of the world’s largest banks, and that they were revealed by the bank’s own management, did not diminish the chorus on Capitol Hill for tighter controls. The charismatic and often outspoken Dimon, who has argued rigorously against strict financial regulations, fielded calls Friday from several lawmakers and regulators at the bank’s Midtown Manhattan headquarters.

The biggest blow-up between Wall Street and Washington since 2010, when Congress passed the Dodd-Frank Act to tighten oversight of the financial industry, comes just as regulators are drafting new rules governing banks. A signature feature of the law is the Volcker Rule, a prohibition on banks engaging in speculative bets. The authors of the act say the measure might have prevented JPMorgan’s bad trades had it been in effect.

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Posted in * Culture-Watch, * Economics, Politics, Corporations/Corporate Life, Economy, House of Representatives, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama, Senate, Stock Market, The Banking System/Sector

Article from The State on Same Sex Marriage which includes Quotes from Bishop Andrew Waldo

“There are certainly members of the church and members of the diocese who believe it is a justice issue, but we have as many who believe that it is a theological issue,” [Upper South Carolina Episcopal Bishop Andrew] Waldo said. “The stand that I’ve taken for a long time is that when Jesus called the disciples to love one another, he also called the disciples to give themselves up for each other.

“The question that I’m asking is, ”˜What are we willing to give up for the sake of each other?’”

At the national convention of the Episcopal Church in July, Waldo and other bishops will take up the issue of the blessing of same-sex unions, although Waldo said “there is not going to be a vote that says here is what the church is going to do. It will be for experimentation and contemplation.”

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * South Carolina, --Civil Unions & Partnerships, Episcopal Church (TEC), Law & Legal Issues, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Same-sex blessings, Sexuality, Sexuality Debate (in Anglican Communion), TEC Bishops

USA Today Editorial–Obama's Same Sex Marriage evolution mirrors the nation's

Symbolically, Obama’s comment to ABC News that “same-sex couples should be able to get married” is an important, even historic, marker of how far public opinion has shifted. No previous president has endorsed gay marriage.

Politically, his declaration injects another hot-button social issue into the presidential race, to uncertain effect. Republican candidate Mitt Romney promptly reiterated his view that marriage “is a relationship between a man and a woman,” setting up a sharp contrast for the fall campaign.

But practically, Obama’s “evolution” changes little. Marriage remains a state matter. Same-sex marriage is unlikely to become the law of the land any time soon. And polls aside, the idea has yet to catch on where it matters most: with voters.

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Posted in * Culture-Watch, * Economics, Politics, --Civil Unions & Partnerships, Law & Legal Issues, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Sexuality, Theology

Shay Gaillard–“Respectfully No, Mr. President”

The President went on to justify his new definition of marriage with these words: “The thing at root that we think about is, not only Christ sacrificing himself on our behalf, but it’s also the golden rule ”” you know, treat others the way you would want to be treated”¦” Mr. President, the sacrifice of Jesus Christ on the cross at Calvary was for the sins of the world. Jesus did not die to take away the moral law or the God-given teaching on marriage. He died to redeem us from our inability to keep that law. The Golden Rule is also misapplied in this instance. To redefine marriage in a way that is contrary to God’s word is to do immeasurable harm to one’s neighbor, not good.

On this day after the announcement, we are told that pollsters have now determined that 50% of the country aligns with President Obama’s position on redefining marriage. Whether or not we believe these numbers, it is important to remember that some decisions are not about the majority or what we feel is best. Some decisions are made in eternity and determined by a loving and just God. Some decisions are above our pay grade. And so I say respectfully No, Mr. President.

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Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * South Carolina, --Civil Unions & Partnerships, Anthropology, Episcopal Church (TEC), Ethics / Moral Theology, Marriage & Family, Ministry of the Ordained, Office of the President, Parish Ministry, Politics in General, President Barack Obama, Sexuality, TEC Parishes, Theology, Theology: Scripture

(RNS) Obama and Same Sex Marriage: In U.S. religion, the Golden Rule rules

In fact, one of the most striking aspects of Obama’s revelation on Wednesday (May 9) that he and his wife, Michelle, support marriage rights for gays and lesbians, is that he invoked their Christian faith to support his views. In past years, Obama ”“ as many believers still do ”“ had cited his religious beliefs to oppose gay marriage.

Obama told ABC News that he and the first lady “are both practicing Christians and obviously this position may be considered to put us at odds with the views of others but, you know, when we think about our faith, the thing at root that we think about is, not only Christ sacrificing himself on our behalf, but it’s also the Golden Rule, you know, treat others the way you would want to be treated.”

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Posted in * Culture-Watch, * Economics, Politics, --Civil Unions & Partnerships, Ethics / Moral Theology, Law & Legal Issues, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Sexuality, Theology

President Obama declares support for same sex Marriage

President Obama today announced that he now supports same-sex marriage, reversing his longstanding opposition amid growing pressure from the Democratic base and even his own vice president.

In an interview with ABC News’ Robin Roberts, the president described his thought process as an “evolution” that led him to this place, based on conversations with his own staff members, openly gay and lesbian service members, and conversations with his wife and own daughters.

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Posted in * Culture-Watch, * Economics, Politics, --Civil Unions & Partnerships, Law & Legal Issues, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Sexuality

(NPR) Wearing A Coat And Tie, [Lyndon Johnson Biographer] Joseph Caro Writes Alone

[DAVID] GREENE: Robert Caro’s new book, “The Passage of Power,” records the moment when Johnson became president of the United States. He was vice president elevated in an instant when President John F. Kennedy was assassinated in Dallas in 1963.

[STEVE] INSKEEP: A famous photo shows Johnson’s hurried swearing in aboard Air Force One. Characteristically, the author has been researching that moment for years. We talked about his long, long dig for information as we sat among the bookshelves and filing cabinets at the New York office where Robert Caro works alone.

CARO: It’s very easy to fool yourself that you’re working, you know, when you’re really not working very hard. I mean, I’m very lazy. So for me, I would always have an excuse, you know, to go – quit early, go to a museum, you know. So I do everything I can to make myself remember this is a job. I keep a schedule. People laugh at me for wearing, you know, a coat and tie to work…

Read or listen to it all.

Posted in * Culture-Watch, * Economics, Politics, Books, History, House of Representatives, Office of the President, Politics in General, Senate

How Social Security Falls Short by 28% over the next 24 years

Government accounting for Social Security has devolved over time from deceptive to dishonest to desperate.

The latest Social Security Trustees report says that benefit promises are fully financed until 2033 and three-fourths financed after that. In short: no crisis.

Here’s the truth, embedded between the lines: At the current payroll tax rate, Social Security would only bring in enough revenue to pay for 72% of all benefits through 2036.

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Posted in * Culture-Watch, * Economics, Politics, Aging / the Elderly, Budget, Economy, House of Representatives, Office of the President, Politics in General, Senate, Social Security, The National Deficit, The U.S. Government

Robert Samuelson –Washington D.C. Chooses the path of Least Resistance

The Washington of conventional wisdom and the real Washington are two entirely different places. The Washington of conventional wisdom is overrun by well-paid insiders ”” lobbyists, lawyers, publicists ”” who systematically manipulate government policies to benefit corporations and the rich, defying the “will of the people.” The real Washington has government paid for by the rich and well-to-do. Benefits go mainly to the poor and middle class, while politicians of both parties live in fear that they might offend the “will of the people” ”” voters.

Recently, Ron Haskins of the Brookings Institution, a Washington think tank, testified before the House Budget Committee on the growth of the 10-largest “means tested” federal programs that serve people who qualify by various definitions of poverty. Here’s what Haskins reported: From 1980 to 2011, annual spending on these programs grew from $126 billion to $626 billion (all figures in inflation-adjusted “2011 dollars”); dividing this by the number of people below the government poverty line, spending went from $4,300 per poor person in 1980 to $13,000 in 2011. In 1962, spending per person in poverty was $516.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, History, House of Representatives, Medicare, Office of the President, Politics in General, Senate, Social Security, The U.S. Government

Protest by Roman Catholic activists may Shift Backdrop into the Fall Election

Steven Wagner, the president of QEV Analytics, a polling firm that recently conducted a survey for The Catholic Association, said religion could emerge as a sleeper issue in the election: “Everyone says this election is about the economy. I can see the issue of religious liberty being what decides the race. If Obama continues to lose Catholics by the margin the Pew poll suggests, that means he could lose the key swing states of Florida, Ohio, Colorado and Iowa.”

Losses in those states could cost Obama the White House, and the states are likely aware of that fact. Wagner noted the administration will likely try to be careful and avoid provoking Catholic activists before the election.

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Health & Medicine, Law & Legal Issues, Office of the President, Politics in General

Barna–How the Faith of Likely 2012 Voters Affects the Issues They Care About

Which political issues will have the greatest influence on voters’ decision of which presidential candidate to support? The answer to that question depends in part on the person’s spiritual leanings. A new nationwide survey by the Barna Group, conducted among people likely to vote in November’s election, indicates that the worldview of different religious segments of the population significantly impacts the issues they care about the most.

Among all likely voters, regardless of their faith inclinations, the most influential issues are health care (said to influence their candidate selection “a lot” by 74% of likely voters), tax policy (62%), employment policies and strategies (54%), and plans regarding the nation’s dependence upon foreign oil (52%).

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Office of the President, Politics in General, Religion & Culture

(CNN Religion Blog) Stephen Prothero–Roman Catholic bishops are speaking against the common good

I will admit that the HHS contraception rule does ask these Catholic clerics to sacrifice something. But what is this sacrifice? Simply to allow the women who work for their organizations to be offered contraceptive coverage by their insurers. To refuse this sacrifice is not to uphold civil society. It is to refuse to participate in it.

Toward the end of their statement, the 15 bishops who signed this statement called on every U.S. Catholic to join in a “great national campaign” on behalf of religious liberty. More specifically, they called for a “Fortnight for Freedom” concluding with the Fourth of July when U.S. dioceses can celebrate both religious liberty and martyrs who have died for the Catholic cause.

As Independence Day approaches, I have a prediction. I predict that rank-and-file American Catholics will ignore this call.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, America/U.S.A., Health & Medicine, House of Representatives, Law & Legal Issues, Life Ethics, Office of the President, Other Churches, Politics in General, Religion & Culture, Roman Catholic, Senate

Mitt Romney, Mormonism, and how he should or should not handle it

Mitt Romney’s Mormon faith has hovered over his 20-year political career like a thick layer of incense at Easter Mass. Negative perceptions of the religion so worried his 2008 presidential team that the dilemma had its own acronym in campaign power point presentations: TMT (That Mormon Thing).

Worries persisted this year as skeptical evangelical Christians flocked to other candidates””any other candidate it seemed ”” causing Romney to avoid all things Mormon in public….

Read it all. Also, Jacques Berlinerblau has further thoughts on this in “How Romney should talk about religion”.

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Mormons, Office of the President, Other Faiths, Politics in General, Religion & Culture

([Sunday London] Times) Can a minority faith with an odd history provide the next US president?

Not the least of the church’s problems now is the growing number of highly educated, formerly prominent Mormons who have left the LDS and are only too ready to tell the world exactly why.

As a molecular biologist studying forest trees in Brisbane, Australia, Simon Southerton was in many ways a Mormon role model. He was 10 years old when his parents joined the church and he was baptised into the faith in 1970. He rose steadily through the ranks and became a bishop to his flock. Over the years he was vaguely aware that some of the historical events described by the Book of Mormon did not match the archeological or scientific record. “But I hadn’t dwelt on it,” he said. He loved his church for its emphasis on families and the sense of community it fostered.
Yet there was one key aspect of church doctrine that began to trouble him. The Book of Mormon describes a migration of Israelite clans across the Atlantic to America long before Columbus. The notion of a New Jerusalem, founded on American soil by the ancient forefathers of Mormonism, is one of the faith’s key tenets. Yet Southerton, familiar with the use of DNA to chart early human migrations, began to worry about the sheer weight of scientific evidence undermining the Book of Mormon’s account.

“Once I started looking at it seriously, it didn’t take me very long at all to realise that the Book of Mormon wasn’t real history,” he said. According to Mormon doctrine, Native Americans are descended from one of the Israelite clans. “But there’s been no serious mainstream belief in anything other than Asian origin for Native Americans for much of the last century,” Southerton added.

Read it all (requires subscription).

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., History, Mormons, Office of the President, Other Faiths, Politics in General, Religion & Culture

An RNS Story on the new USCCB Statement–Catholic bishops issue rallying cry for 'religious freedom'

“If we face today the prospect of unjust laws, then Catholics in America, in solidarity with our fellow citizens, must have the courage not to obey them,” the statement says. “No American desires this. No Catholic welcomes it. But if it should fall upon us, we must discharge it as a duty of citizenship and an obligation of faith.”

The document cites a number of other perceived threats to religious freedom besides the contraception policy, such as harsh immigration laws that could impede the church’s social ministry and university policies targeting campus student religious groups.

The statement also makes a concerted effort to portray the Catholic campaign as bound up with the fight to defend American values from an overbearing central government.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Ethics / Moral Theology, House of Representatives, Law & Legal Issues, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Senate, Theology

(IBD) Medicare Trustee: ObamaCare Will Explode Deficits

President Obama’s signature health reform law will add as much as $527 billion to federal deficits over the next decade, not cut them as advertised, according to a report released Tuesday.

The Affordable Care Act will add as much as $1.2 trillion to federal spending between 2012 and 2021, the report also finds. Charles Blahous, who serves as one of Medicare’s trustees, wrote the report, published by George Mason University’s Mercatus Center.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Budget, Economy, Health & Medicine, House of Representatives, Medicare, Office of the President, Politics in General, Senate, The National Deficit, The U.S. Government

The Latest Numbers from Intrade on the Republican Nomination Process and the Fall Election

Mitt Romney to be Republican Presidential Nominee in 2012–95.2

Barack Obama to be re-elected President in 2012–60.8

Posted in * Economics, Politics, Office of the President, Politics in General

(NY Times) Hard Line on Iran Places White House in a Bind

“Obama had two main objectives ”” to deflect Israeli pressure to conduct or acquiesce in a premature war, and to neutralize Republican criticism that he is too soft on Iran and too hard on Israel,” said Robert Malley, program director for the Middle East and North Africa at the International Crisis Group. “On those fronts, mission accomplished.”

But, Mr. Malley added, “victory came at a price.” By stating clearly that containment of a nuclear-armed Iran is off the table, Mr. Obama may have committed America to military action to halt Iran if other means fail to do so, Mr. Malley said.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, Defense, National Security, Military, Foreign Relations, Iran, Middle East, Office of the President, Politics in General, President Barack Obama

(WSJ) Al Lewis–Too Big To Bank There

We have finally reached the point in our financial history where even bankers hate bankers.

Last week, the Federal Reserve Bank of Dallas issued its 2011 annual report with a 34-page essay, “Why We Must End Too Big To Fail — Now.” The report stops short of calling our nation’s largest banks terrorists, but it does dub them “a clear and present danger to the U.S. economy.”
It begins with a letter from regional Fed president Richard Fisher. “More than half of banking industry assets are on the books of just five institutions,” he complains. “They were a primary culprit in magnifying the financial crisis, and their presence continues to play an important role in prolonging our economic malaise.”

This is not the Tea Party. This is not Occupy Wall Street. This is not some disgruntled Goldman Sachs guy firing off a nastygram to the New York Times on his last day. This is a member of the Federal Reserve itself — an institution that bears responsibility for our banking system devolving into an untenable oligarchy that buys off politicians, captures regulators and eats up our money. This is a member of the establishment saying Too-Big-To-Fail, or TBTF, must die.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Federal Reserve, House of Representatives, Office of the President, Politics in General, Senate, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government

(NY Times On Religion) Santorum’s Catholicism Proves a Draw to Evangelicals

After more than a century of widespread antipathy between Catholics and evangelical Christians, a Catholic with Italian immigrant roots from the industrial Northeast has emerged as the favored presidential candidate among evangelicals, even in states he lost over all, like Ohio and Illinois. On the eve of Louisiana’s primary on Saturday, Mr. Santorum had won a plurality of the evangelical vote in 9 of 16 states, according to exit polls by Edison Research.

“Santorum represents a game-changer,” said D. Michael Lindsay, the president of Gordon College, a Christian school near Boston, and an expert in evangelical voting patterns. “His candidacy has the potential to reshape conservative political alignment, securing once and for all evangelical support for a conservative Catholic in public life.”

Mr. Santorum has, in fact, performed far better with evangelical Christians than with Catholics, who have preferred Mitt Romney, a Mormon, in virtually every state. Through a critical reading of the data, Mr. Santorum’s base of evangelical Protestants and conservative Catholics could be seen by cynics as a coalition of zealots, held together by intolerance. By another way of thinking, however, his candidacy offers proof of a growing tolerance on the part of evangelical Christians, a willingness to shed ancestral religious prejudices.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Evangelicals, History, Office of the President, Other Churches, Politics in General, Religion & Culture, Roman Catholic

The Latest Numbers from Intrade on the Republican Nomination Process and the Fall Election

Mitt Romney to be Republican Presidential Nominee in 2012–92.1

Barack Obama to be re-elected President in 2012–59.2

Posted in * Economics, Politics, Office of the President, Politics in General, President Barack Obama