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February 25, 2011     Post-Gazette
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Page 4 POST-GAZETTE, FEBRUARY 25, 2011 n g Ben Dohe y In 1995 the GOP lost a standoff on the budget. The Republicans and Democratic president were far apart on the budget raising the spec- ter of a government shut- down. Medicare and Social Security were easy fodder for Democrats. Republicans hope the parallels end there. In 1995 the Gingres revolu- tion demanded tough budget cuts and took it to a govern- ment shutdown. Congress did not OK a budget last year, instead they passed several stop-gap funding measures. The latest ends March 4th. Speaker John Boehner, Ohio, says his caucus won't extend this year's budget without spending cuts signaling a willingness to risk a shut- down. President Obama is trying to avert a shutdown. In a government shutdown nonessential services stop, but not the military. In 1995 President Clinton rejected the budget, forcing a shut- down, with Speaker Newt Gingrich and rank and file makers, a Republican task force. They never regained them and Clinton won re- election. Could a shutdown BUDGET CRISIS own risk. A CBS poll found that 70% of people are wait- ing for Republicans to do the right thing. Republicans are trying to carry out their plan to end Social Security and pays out more than it takes in, with the budget saving in the next few years, not de- cades away. The Democrats in Wisconsin are boycotting the state. They're staying in hiding for weeks paralyzing the state. The state's school budget is shy of a quorum to convene. Public unions con- tinued their school stopping demonstrations. Public unions are up in arms as the state has cancelled their contracts and they are suing the state. Teachers have left their classrooms. Deadly un- resf in Bahrain and Libya fol- lowed Egypt's problems, as physical violence continued with the Armies getting in- volved. For Bahrain, police attacked protesters in the capitol killing four people with troops and tanks de- ployed. In Libya, 24 were killed in anti-government unrest. The 10-Year U.S. Treasury is yielding 3.5% as for two weeks, it's a signifi- cant cost. The DOW notched, its 3rd week of gains. Nearly 70% of S&P500 stocks have beat analysts' estimates. Tax software maker, Inuit raises its forecast. The Turbo-Tax software boosted its full year profit to $2.48/share. It expected $2.43/share. The audit and the IRS extending a tax credit for real estate. The stock rose 6.8%. Water Bound said its board approved a plan to buy back $500 million in shares. Restau- rant operator Red Robin, Gourmet Burgers, posted a 2.5 million compared with $1.6 million last year. Ana- lysts estimate .5C/share. Libya and Bahrain are under fire, like Egypt. Quadafi has killed over 300 people so far and the ambassadors at the United Nations are asking for his resignation. Its snowball- ing throughout the Mideast and the army is getting in- volved. Gas prices are higher at $3.17/gallon and the death toll is rising. Violence in Mexico is at an all-time high, as it enters the tourist areas like Acapulco. The traders prepare for $99 bil- death toll is rising here also prove similarly advantages lion supply hitting the mar- with over 50 people killed. to President Obama and ket. The 30-Year Bond is In the meantime Christ Congressional lawmakers? A priced to yield 4.67% and the 1995 Gallup poll found that 2-Year is trading to yield @ Congress should balance the .67%. Deep water permits to budget. 52% said halting the drill for oil may resume soon. budget is important. The GOP Brazil, Africa and Australia now control Congress and it'shave made deep water drill- the wrong time and the pub- ing profitable. Other compa- lic support for reducing the nies are waiting on- new budget and governments regulations. Many rigs are II lliIl i I1UU[ ilEIiEit , THE HOW lillE, IICW lll/lI President may be itching foras much as $400,O00/day a fight, but he does so at his and if a rig has to sit there Church, New Zealand had an earthquake and hundreds are buried under the rubble. Buildings fell apart. Office buildings and churches crumbled and buried several people and it's an interna- tional disaster. I[3 [[lll [0 CtI[[ !JOlll- financial advisor or call me at 61 7-261-7777. Boston Water and Sewer Is Coming to Your Neighborhood A Boston Water and Sewer Commission Community Services Department representative will be in your neighborhood at the place, dates, and times listed here. Our representative will be available to: V' Accept payments. (Check or money order only-no cash, please.) v' Process discount forms for senior citizens and disabled people. V' Resolve billing or service complaints. v Review water consumption data for your property. v' Arrange payment plans for delinquent accounts. Owned and operated by Pamela Donnaruma, Publisher, Post-Gazette Need more information? Call the Community Services Department at 617-989-7000. Boston Water and Sewer Commission 980 HarrisonAvenue Boston, MA 02119. www.bwsc.org by Sal Giarratani ~i~f ~ ~ "~ Just Say No, Period As the debate continues over whether to raise the federal debt ceiling to 814.3 trillion, most of us according to poll numbers have made up our minds. Don't even think about it. Since 1917, Congress has set a legal limit on the amount of money that the government can borrow. That limit is now $1.4 trillion but our national debt is already almost $14.4 trillion and the US Treasury says the ceiling has to go higher. Many Republicans are resisting the call, espe- cially those Tea Party Re- publicans. If you listen to US Treasury Secretary Timmy Geithner, the whole world will collapse unless we do it. Congress needs to address its spending urge which is a major cause of our economic ills. This year's budget cont tains an incredible $3.8 mil- lion in discretionary spend- ing and entitlements now represent 60 percent of spending. We are now about $300 billion short of the ceil- ing and next year's debt should be $1.5 trillion so here comes the limit. Geithner is pushing Con- gress to raise the ceiling or face disaster as the only al- ternative but the very oppo- site could be equally true if we just keep spending more and more money like it grows on trees. The whole purpose for plac- ing a debt ceiling on the na- tion back in 1917 was to con- trol spending. Think of it this way, back 94 years ago, the U.S. government was a single-story ranch house. As we kept spending, it turned into a triple-decker and eventually has become a high rise apartment build- ing. With no end in sight as how far up we can go. If we can keep building up, the whole purpose of the debt ceiling is history. Letter to the Editor ... CYCLISTS SPEAK OUT Dear Editor, I'd like to write in response to the article on February 11th by Sal Giarratani "News Briefs" Sharing the Road with Bike Riders: An avid bicycle commuter myself, I can understand your frustration and am very sorry for those people that were killed while riding a bicycle. We can all learn to pay more attention to cyclists and motorists on the road; while I was living in Melrose and eo.ll rn tJ tttlg to t}le Musetlli1 of geienee some y ..... go_ will ~ave [o say ll~hanli You" [o all the mo~oris/ts on {he roadwho knew I was there! I don't think you should blame all cyclists out there; there are many of us that "STOP7 at stop signs, "STOP" at red lights, use hand signals -- there's a whole community out there of safe cyclists and safe motorists as well as unsafe cyclists and unsafe motorists; does every motorist use their turn signal? And does every motorist stop for a stop sign? -- think about it! Mass Bike is an awesome organization where we can learn a lot about safe cyclists and motorists when they see cyclists out there, as well as information on law enforcement -- for more information go to: http://www.massbike.org/ resourcesnew / bike-law / bike-taw-update~ Incidentally; I now live in Maihe and have cycled from Maine to Massachusetts and beyond; you also might want to ask 1VIayor Menino about cycling in and around Boston. Karenlee Gorman Arundel, ME NORTH END 5 PRINCE STREET* NORTH END * BOSTON, MA 02113 Quality Printing for all your Commercial and Personal Needs Stationery * Business Cards * Menus * Flyers Program Books * Wedding and Party Invitations Announcements * Business Forms and Documents -- COMPETITIVE PRICES