Fed’s Low Interest Rates Crack Retirees’ Nest Eggs

PORT CHARLOTTE, Fla.—Forrest Yeager, a 91-year-old resident of this seaside community, had been counting on his retirement savings to last until he died. The odds are moving against him.



Jason Henry for The Wall Street Journal

Jim and Eileen Keller have $200,000 remaining and fear they will eventually have to rely solely on Social Security.

gold nest egg

With short-term bank CDs paying less than 1%, the World War II veteran expects his remaining $45,000 stash to yield just a few hundred dollars this year. So, he’s digging deeper into his principal to supplement his $1,500 monthly income from Social Security and a small pension.

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2011 Budget Battle in Perspective

2011 Budget Battle in Perspective


Today the Cato Institute placed an ad in major newspapers highlighting specific spending cuts that policymakers should make to restore our country’s fiscal sanity and economic stability. Our public call for policymakers to demonstrate leadership on spending cuts comes in the midst of the on-going battle on Capitol Hill over funding the government for the remainder of fiscal 2011.

A graphic at the top of the ad measures the $61 billion in cuts that Republicans have proposed against fiscal 2011 estimates for total spending, the deficit, and interest on the debt. As the graphic shows and the ad notes, it is clear that “leaders and members of both parties are in deep denial about the fiscal emergency we face.”

There are news reports that Republican and Democrat negotiators are heading toward a compromise figure of $33 billion in spending cuts. Let’s put that figure in perspective alongside the GOP’s original proposal to cut a whopping $61 billion:

Record spending levels…trillion dollar plus deficits…mountainous debt…a weak economy…

What, Congress worry?

San Diego Tea Party

Duncan Hunter rips CIA on Libya intelligence


The Central Intelligence Agency should have more intelligence on rebels in Libya by now, a member of the House Armed Services Committee said Friday.

In an interview with MSNBC, Rep. Duncan Hunter Jr. (R-Calif.) criticized the CIA for not being able to provide a sufficient amount of intelligence to American lawmakers to decide whether arming Libyan rebels to help battle dictator Col. Moammar Gadhafi is a good idea or not.

"You could say that the CIA kind of failed us in Libya. They were there until about a month ago in Tripoli, they didn't see any of this coming," Hunter said.  "They didn't pick out the bad actors and good actors prior to this. “

Hunter's criticism comes after media reports earlier this week that President Obama had secretly authorized providing aid to the rebels. Administration officials denied the reports and reiterated that the U.S. presence in Libya is to help enforce a United Nations Security Council no-fly zone resolution to protect Libyan civilians and allow Libyan rebels the opportunity to strengthen themselves enough to oust Gadhafi.

Obama and other administration officials have left open the possibility of arming the rebels despite criticism from lawmakers that the U.S. doesn't really know who the rebels are or what the end result could be of arming them.

"I'm not ruling [arming them] out. But I'm also not ruling it in," Obama said in an interview with NBC News on Tuesday.

Watch the video below:


Visit msnbc.com for breaking news, world news, and news about the economy


By Daniel Strauss


04/01/11 02:52 PM ET

San Diego Tea Party

New Zeal: Socialist Labor Bosses Plan Mass Actions Across America

An Emergency Labor Meeting was held in Cleveland, Ohio on March 4-5, 2011. 

Ninety-six union leaders and activists from 26 states and from “a broad cross-section of the labor movement” gathered at the Laborers Local 310 Hall in Cleveland in response to an invitation sent out in January urging them to “explore together what we can do to mount a more militant and robust fight-back campaign to defend the interests of working people.”

Three weeks prior to the Emergency Labor Meeting (ELM), “unionists and community and student activists in Wisconsin unleashed a resistance movement against Governor Scott Walker’s union-busting and concessionary attacks that in a short time has breathed new life into the labor movement”.

Participants in the ELM took “full note of the new situation and of the grave dangers to the U.S. labor movement and to workers’ and democratic rights posed by Governor Walker’s attacks”.

They pledged to make the “fight against union-busting and the budget cuts/concessions in

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Gallup Finds U.S. Unemployment Rate at 10.0% in March

March 31, 2011

Underemployment falls to 19.3% from 19.9% at the end of February

by Dennis Jacobe, Chief Economist

PRINCETON, NJ — Unemployment, as measured by Gallup without seasonal adjustment, was 10.0% in March — down from 10.2% in mid-March and 10.3% at the end of February, but above the 9.8% at the end of January. U.S. unemployment was 10.4% at the end of March a year ago.

Gallup's U.S. Unemployment Rate, January 2010-March 2011


The percentage of part-time workers who want

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We’ve Become a Nation of Takers, Not Makers

More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined.

If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.

It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?

Every state in America today except for two—Indiana and Wisconsin—has more government workers on the payroll than people manufacturing industrial goods. Consider California, which has the highest budget deficit in the history of the states. The not-so Golden State now has an incredible 2.4 million government employees—twice as many as people at work in manufac

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“Amazing Video” Obama against War (just insert “libya” where he says “Iraq”)

This video shows our President and friends saying how much he is against this Libyan (Iraq) war.

Can we get just ONE of those people to embrace the camera NOW?

I Don’t Oppose All Wars  (source link)

I Don’t Oppose All Wars (source link)
I don’t oppose all wars. My grandfather signed up for a war the day after Pearl Harbor was bombed, fought in Patton’s army. He fought in the name of a larger freedom, part of that arsenal of democracy that triumphed over evil.

I don’t oppose all wars. After September 11, after witnessing the carnage and destruction, the dust and the tears, I supported this administration’s pledge to hunt down and root out those who would slaughter innocents in the name of intolerance, and I would willingly take up arms myself to prevent such tragedy from happening again.

Opposed to Dumb, Rash Wars

I don’t oppose all wars. What I am opposed to is a dumb war. What I am opposed to is a rash war. What I am opposed to is the cynical attempt by Richard Perle and Paul Wolfowitz and other armchair, weekend warriors in this administration to shove their own ideological agendas down our throats,

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Why Is California Broke?


Hold on to your hats. Governor Jerry Brown wants us to vote for higher taxes in the next election cycle. WHAT A GUY! Of course the ONLY place to cut is fire, police, and teachers, I’m sure. That’s what they always threaten.

This List Is Almost Unbelievable!

These are all California State Agencies

California Academic Performance Index (API) * California Access for Infants and Mothers * California Acupuncture Board * California Administrative Office of the Courts * California Adoptions Branch * California African American Museum * California Agricultural Export Program * California Agricultural Labor Relations Board * California Agricultural Statistics Service * California Air Resources Board (CARB) * California Allocation Board * California Alternative Energy and Advanced Transportation Financing Authority * California Animal Health and Food Safety Services * California Anti-Terrorism Information Center * California Apprenticeship Council * California Arbitration Certification Program * California Architects Board * California Area VI Developmental Disabilities Board * California Art s Council * California Asian Pacific Islander Legislative Caucus * California Assembly Democratic Caucus * California Assembly Republican Caucus * California Athletic Commission * California Attorney General * California Bay Conservation and Development Commission * California Bay-Delta Authority * California Bay-Delta Office * California Biodiversity Council * California Board for Geologists and Geophysicists * California Board for Professional Engineers and Land Surveyors * California Board of Accountancy * California Board of Barbering and Cosmetology * California Board of Behavioral Sciences * California Board of Chiropractic Examiners * California Board of Continue reading

Chula Vista Councilman wants resolution in support of collective bargaining

Please watch the video from the last Chula Vista City Council meeting when Councilman Steve Castaneda asked for a resolution in support of collective bargaining. You can be sure the people (unions) who want this have been meeting with Steve and it is already in motion. The only way to stop this is by you calling, emailing and showing up at city council meeting to let your voice be heard on this. (contact info for council at bottom of email). Call the local talk shows and talk about it. Chula Vista is the second largest city in San Diego County and we should be talked about on local shows.

Mileage tax a “practical option,” budget analysts tell Congress

Freeway Traffic Might Be Making Your Kid Sick

The Obama administration wants to spend $556 billion over the next six years on transportation projects, but they may have to get creative to pay for them. One “practical option” could be taxing drivers based on their mileage, the nonpartisan Congressional Budget Office (CBO) is reporting.

The CBO has released a report on a potential mileage tax at the behest of Democratic Sen. Kent Conrad (N.D.), the chairman of the Senate Budget Committee, the Hill reports. While tracking mileage was once considered infeasible, the CBO concluded that new technologies have changed that.

“Now, electronic metering and billing are making per-mile charges a practical option,” the report said.

Conrad requested the report after a congressional hearing earlier this month in whi Continue reading