Category: government

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Troubles in Egypt

There have been riots in Egypt as thousands of people have taken to the streets to protest the government. The main source of the problem seems to be that there are not enough jobs to go around. The people are tired of living on an income that does not meet their needs.

The Egyptian President Hosni Mubarak has declared that he has taken measures to increase the number of jobs available in his country. I hope he can make good on his promises soon as the unrest in his country is affecting the rest of the world in a negative way.

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Loans for Greece

Everybody knows by now that the country of Greece has had some major economic problems. It seemed for awhile that the country would devalue its currency and forfeit on a number of its loans. This is no longer a problem as Greece has received loans from European countries.

The only sticking point has been how much Greece would pay on the loans it receives. The matter is still in talks. In the mean time, citizens of Greece will have to tough out the new economic measures that are being placed on them by the government. I hope they will understand the need to pay their debts.

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Budget deficits

The federal government is borrowing money at a fantastic rate. As of right now, the American taxpayers are paying a rate of 40 cents for every dollar they spend. It is a wonder how much longer we can go on paying these types of charges on our money. The budget is out of control and needs to be trimmed in a serious way.

The congress is still debating a balanced budget amendment and things are not looking good. The republicans and democrats are auguring over what items need to be trimmed. I say that all items should be on the table and the budget should be balanced as soon as possible.

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China trade

There is some good news today and that is the fact that China has agreed to purchase more American made goods. After a visit today of Chinese leader Hu Jintao to the Obama white house, the deal was struck. This is good news for American workers.

The trade gap between china and America has worried experts for years. They have wondered how long the American economy can sustain sending millions to china every month. China has agreed to purchase over 200 Boeing plane for a total of about $19 billion dollars. I hope this trend continues!!

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AIG

In 2008, the U.S. government bailed out the giant AIG Corporation. The government lent the company over $182 billion dollars in order to keep it afloat. The good news is that the company is ready to start paying back the money it owes. The government owns about 1.6 billion shares in the company estimated to worth at least $80 billion dollars.

The better news is that the transaction is likely to net the U.S. taxpayers a profit of about $40 billion dollars. The feeling on Wall Street is that the company is now on a better foundation and will be profitable in the future. Taxpayers hope this is true and we will not have to go through this again.

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Stealthy China

One thing that has Americans worried is that the country of China is growing in power. Ever since the fall of Russia, China has been our main challenger to world domination. They are giving us a run for our money emotionally, financially, and physically. They have now come out with a new threat to our leadership.

China has recently tested out their new stealth fighters. This has meant that they are able to challenge the U.S. in the world of military power. Our two countries have been posturing for years and things are certain to come to a head in the future. I hope that diplomacy will win the day and we can learn to get along for the sake of the world.

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The queen’s head

In London, some people are up in arms, or heads if you will. It seems that there is a bill before the parliament that could sell some parts of the Royal Postal Service to foreign buyers such as Germany or the Dutch. The sticking point is that the queen’s head may be cut off if this happens.

In 1967, a sculptor named Arnold Machin designed the stamp depicting the queen’s head. The stamp has been a mainstay of British stamps ever since. Some worry that the queens head stamp will no longer be available if the postal service is sold. Parliament will soon vote on a bill that will ensure the queens head stamp will remain wherever British stamps are made.

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First responders

I was glad to hear last night that congress passed a bill that is intended to help the first responders for the tragedy of 911. The bill passed by a margin of 206 to 60. The bill provides funds to monitor the health of those who helped clean up the mess after the incident.

The bill will also reopen the compensation fund for survivors and families of the victims. Many of the responders are suffering from asthma and lung problems due to inhaling the dust at the cleanup site. I think it is only right to help these people after all they have done for us.

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Tax Cuts

It seems that the recent election where republicans made great gains in the house and the senate are paying off for the party. They have effectively forced the Obama administration into extending the tax cuts that were due to expire at the end of the year. The compromise will affect millions of Americans.

Democrats still strongly object to the cuts as they say it will strangle the government’s ability to put money into other programs where it is needed. As for me, I am just glad to know that my taxes won’t be going up anytime soon.

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Europe in trouble

The financial news in Europe has not been good lately. It seems that many countries are in need of a bailout similar to the one given to the country of Greece about six months ago. The next country that is ready to accept a bailout is Ireland. Their mounting financial troubles have them scrambling for answers.

Other countries such as Portugal are considered to be financially weak and could soon be in need of a bailout as well. The good news is that many of these countries are taking steps to avoid bankruptcy by trimming their budgets and cutting government jobs. I hope they will get this mess straightened out soon so the financial worries don’t spread around the world.