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Roseanne Barr running for president

Diane Alter – AHN News Reporter

Washington, D.C., United States (AHN) – Roseanne Barr has filed the official paperwork necessary to run for the Green Party nomination for president of the United States.

Barr filed her paperwork with the Federal Election Commission on Jan. 25. Her filing creates a four-way race for the Green nomination, which is to be decided at the Green Party Nomination Convention in July.

The comedian tweeted Thursday, “I am running for Green Party nominee for POTUS. I am an official candidate. I am4 the Greening of America & the world. Green=peace/justice.”

‘I will run until the convention in July in Baltimore, I fully expect Jill Stein 2b the nominee & I will support her, but till then-I’ll serve,” Barr continued in several tweets that followed her announcement.

Barr’s platform, as detailed in a tweet, is a promise to institute “#Europeanstyle” single payer healthcare within the first 100 days of her term, and to forgive all credit card and mortgage debt “by kicking out the FED-those who all this fake debt is owed.”

In May 2010, in a campaign announcement, Barr outlined a more detailed platform. “First, to make war illegal and legalize hemp and marijuana. Second, change the demographics of government to include more women. Third, outlaw–how do we say this politely–outlaw bull. Yes, that’s it. Outlaw bull.”

On the Green Party website, Barr expressed her support for the Occupy Wall Street Movement and said, “Both the Democratic and Republican parties are bought and paid for by corporate America and cater to the needs of the highest bidder as opposed to the people the claim to represent. I cannot be bought.”

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Diane Alter – AHN News Reporter

New York, NY, United States (AHN) – U.S. stocks celebrated Veteran’s Day will a strong rally.

Helping markets advance was a report that showed a better than expected rise in the Consumer Confidence Index and a vote in Italy on its debt reduction plan.

At 3 p.m., with just an hour left in trading, the Dow Jones Industrial Average surged 266 points, the Standard & Poor’s 500 Index was up 23 points and the NASDAQ jumped 53.

Stocks have had a rocky week as the main focus continued to be on the mounting eurozone sovereign debt crisis. But reports that Italy and Greece have come to an agreement for new governments and leaders in both of their financially countries added some much needed positive sentiment to battered global markets.

U.S. stocks cheered as the University of Michigan’s preliminary consumer confidence rose to a better than expected 64.2 percent in November, the highest reading since June.

Bond markets were closed in honor of Veterans Day, but equity and commodity markets were brisk and booming. Oil is quickly approaching the $100 a barrel mark, last trading at $99. Gold was up a little more than a dollar after steep losses on Thursday. The yellow metal was last quoted at $1,789 a troy ounce.

Gold is expected to find interest next week as investors remain cautious over the Europe debt deal and the U.S. “supercommittee” charged with federal spending cuts.

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Vittorio Hernandez – AHN News

Berlin, Germany (AHN) – The Bundestag, Germany’s Parliament, agreed on Thursday to increase the country’s guarantees on European Union loans to $284 billion (€211 billion) from $167 billion (€124 billion).

The 523 to 85 vote gave the European Financial Stability Facility (EFSF) power to purchase bonds in secondary markets, enable bank recapitalization and offer precautionary credit lines.

The Bundestag also approved the increase in the EFSF to $599 billion (€440 billion). The measure was approved because of the support of the Christian Democrats, Free Democrats, Social Democrats and Greens.

The approval of the hike represents a victory for German Chancellor Angela Merkel, who spent weeks campaigning for approval of the July 21 agreement by eurozone leaders. Germany holds the largest amount of Greek government bonds.

However, German Finance Minister Wolfgang Schauble and Economics Minister Philipp Roster said any further increase was out of the question.

With the European Commission expecting the larger EFSF in place by mid-October, zone leaders are now focusing on how to prevent the region’s debt crisis from spreading further. One of the measures they are eyeing is the establishment of a permanent rescue fund that would provide more capital and tools to manage defaults.

However, the chairman of a private-equity firm said the newly approved bailout package would not be enough to solve the eurozone’s debt problems. He suggested that the amount should be in the trillion-euro level, not just billion.

Austria is expected to ratify the expanded rescue fund on Friday, while four other countries have yet to vote on it.

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Risk of Greek default jumps to 98 percent

Diane Alter – AHN News Reporter

New York, NY, United States (AHN) – The chance the Greece will default on its debts within the next five years has soared to 98 percent as Prime Minister George Papandreou failed to reassure the world that his country can survive the euro-region debt crisis.

Fears of a Greek default sent stock markets tumbling all across the globe. Worries have mounted that Greece’s trouble may be contagious and that other European countries are poised for a similar fate. Eyes are carefully focused on Italy and Portugal for any signs of imminent financial dangers.

Greece’s government expects the country’s economy to shrink more than 5 percent in 2011, more than the 3.8 percent previously predicted by the European Commission.

The risk of contagion beyond Greece pushed credit default swaps on Portugal, Italy and France to records. The euro fell to its lowest point against the Japanese yen since 2001. The U.S. dollar strengthened, but American equities fell in sympathy.

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Tom Ramstack – AHN News Legal Correspondent

Washington, DC, United States (AHN) – The Senate is scheduled to give final approval to a new debt ceiling Tuesday to save the U.S. economy from its first default in history within hours of running out of money.

The House approved the measure Monday evening.

Bickering between Republicans and Democrats continued down to the last hours before the vote.

The agreement that allows the U.S. government to borrow another $2.4 trillion also comes with tough new restraints on spending.

Spending levels would drop to the lowest levels since the Eisenhower Administration in the 1950s.

International markets reacted positively to the deal in Congress Monday. U.S. stocks rose by 1 percent when the New York Stock Exchange opened while the U.S. dollar increased in value compared to some foreign currencies.

The stock market gains were lost later in the day after a new report showed the U.S. manufacturing industry is performing poorly.

President Barack Obama admitted before the vote that he did not like the debt deal but felt there was no better option to avoid what he called “a default that would have had a devastating effect on our economy.”

Some of the first to feel the effect of the government running out of money would have been Social Security recipients and military personnel, both of whom would not have received their checks on time.

“Is this the deal I would have preferred? No,” Obama said during a press conference Monday.

“I believe that we could have made the tough choices required on entitlement reform and tax reform right now, rather than through a special congressional committee process,” he said. “This process has been messy. It’s taken far too long.”

The deal would raise the debt limit while reducing spending in two stages.

The first stage would cut $917 billion from the budget over 10 years. The second stage would require a special congressional committee to convene this year to find another $1.5 trillion in cuts by revamping the tax system and reducing social benefits.

The tax changes are most likely to eliminate tax breaks for high income individuals and corporations. Social benefit programs that could shrink under the plan include Medicare.

The higher debt limit would come on top of the nation’s current $14.3 trillion deficit. Much of the money is owed to China.

Obama administration officials said the additional $2.4 trillion in borrowing should give the U.S. government enough money to pay its bills until 2013.

“In the end, compromise won out,” White House Press Secretary Jay Carney said.

Former presidential candidate Sen. John McCain said the conservative sentiment created by the Tea Party helped sway the deal in favor of reduced spending instead of higher taxes.

“I agree the Tea Party movement has had an effect in that I don’t think without the Tea Party we would have had an agreement,” the Arizona Republican said in a television interview Monday on Fox News.

He said “the president had to back down” and give up “his primary position that we had to have tax hikes.”

Among critics of the debt ceiling deal is Republican presidential front-runner Mitt Romney.

He says the deal will result in higher taxes and a smaller military. Hundreds of billions of dollars in reduced government spending would come from the Defense Department budget.

“As president, my plan would have produced a budget that was cut, capped and balanced – not one that opens the door to higher taxes and puts defense cuts on the table,” Romney said in a statement. “President Obama’s leadership failure has pushed the economy to the brink at the eleventh hour and 59th minute.”

Other concerns are being raised by economists about the last-minute deal.

It might not be enough to prevent the U.S. economy’s credit rating from being downgraded from its current AAA level, which is the highest rating, economists say.

A downgrade would be likely to result in higher local taxes and more job cuts, according to economists.

“It definitely would have a dampening effect on the economy,” said Ellen Zentner, senior U.S. economist at Nomura Securities in New York.

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United States (KaiserHealth) – President Barack Obama and House Speaker John Boehner on Monday night offered competing views on the state of debt talks and proposals. While neither touched heavily on overhauling entitlement spending, especially Medicare, the president mentioned it several times. Medicare has been one of the most contentious roadblocks to striking a deal to raise the debt ceiling while also making spending cuts.

Here are a pair of word clouds that show what each man said and how often. The bigger the word, the more often it was said. Obama’s speech is in blue, Boehner’s is in red. We also have excerpts for when each mentioned Medicare or health care.

Obama:

(Click for larger version)

Obama on Medicare:

“… Interest rates could climb for everyone who borrows money [if the debt ceiling is not raised] – the homeowner with a mortgage, the student with a college loan, the corner store that wants to expand. And we won’t have enough money to make job-creating investments in things like education and infrastructure, or pay for vital programs like Medicare and Medicaid. … “… The first [Democrats'] approach says, let’s live within our means by making serious, historic cuts in government spending. Let’s cut domestic spending to the lowest level it’s been since Dwight Eisenhower was President. Let’s cut defense spending at the Pentagon by hundreds of billions of dollars. Let’s cut out waste and fraud in health care programs like Medicare – and at the same time, let’s make modest adjustments so that Medicare is still there for future generations. … “… Democrats and Republicans agree on the amount of deficit reduction we need. The debate is about how it should be done. Most Americans, regardless of political party, don’t understand how we can ask a senior citizen to pay more for her Medicare before we ask a corporate jet owner or the oil companies to give up tax breaks that other companies don’t get. … “… The House of Representatives will once again refuse to prevent default unless the rest of us accept their cuts-only approach. Again, they will refuse to ask the wealthiest Americans to give up their tax cuts or deductions. Again, they will demand harsh cuts to programs like Medicare. …”

Boehner:

(Click for larger version)

Boehner on health care:

“President Obama came to Congress in January and requested business as usual – yet another routine increase in the national debt limit – we in the House said ‘not so fast.’ Here was the president, asking for the largest debt increase in American history, on the heels of the largest spending binge in American history. “Here’s what we got for that spending binge: a massive health care bill that most Americans never asked for.”

– Provided by Kaiser Health News.

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Linda Young – AHN News Writer

Brussels, Belgium (AHN) – Solving the Greek sovereign debt crisis is essential or the other member states of the Eurozone will feel the negative consequences, warned the European Commission president.

Eurozone leaders are meeting in Brussels, Belgium this week to discuss the Greek crisis.

Despite the urgency of the matter, Eurozone leaders remain divided on how to address the problem.

German Chancellor Angela Merkel says her nation wants private investors to help with any package of aid by rolling over loans they have already made to Greece, thereby extending the due dates for repayment.

But the European Central Bank objects to this plan and says international credit agencies would view that move as a default by Greece and it would undermine investor confidence not just in Greek debt but in the value of the euro as well.

With such a level of disagreement, Merkel has said it is not likely that any concrete plan will emerge from this meeting.

Observers have said that the basic problem stems from merging the currencies of 17 nations without first merging agreeing on similar fiscal policies.

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Normally, the person applies for a personal loan when he does not discover any extra source of getting cash and satisfying his monetary wants. It is probable that he can’t remain for a long time in order to arrange the cash. Personal loans enable you to take care of instant necessities without much hassle. You do not have to provide security or guarantor; you can utilize the amount of loan for almost any purpose. Some banks or credit unions will give you a personal loan if they can see consistent deposits in your checking account and a steady paycheck. These loans aren’t secured so there is no asset at risk except your checking account. You can likely reduce the amount of interest on your debts significantly by using a personal loan.

Are you sick of dealing with the problems that are caused by debts that you cannot control like medical bills, car repossessions, and more? There are better ways for you to deal with this type of thing and one of them is by using personal debt loans to help you with your situation. Loans to pay personal debt are very similar to debt consolidation personal loans and you need to know that these are unsecured loans and you will need to pay it back as soon as you can or at least on time. These loans for personal debt can be spread over a few good years to give you sufficient time to pay them back while you are in the process of getting your credit back on track. Among challenges faced when you are taking out a loan, are either due to having a poor credit score or because you do not have any collateral to put up against the loan. Having only one loan payment can also improve your credit score. This is especially true if the other debt was mainly credit card debt with the balance being very close to the credit limit. So to get the benefit of the above this is how to go about consolidating your debts.

The first step is to make a list of all of your outstanding debt. Make columns for information including the creditor, the balance due, and the interest rate. In the last column calculate the total amount you will pay on that debt making your current payments. There are great calculators to get this information online. These calculators are free and easy to use. In many cases you will be shocked to see how much that debt is going to end up costing you. Once you have completed that task, add up the totals in each column. You will need to know the balance due to pay off the debt as this is the amount you will need your personal loan to be for. You also want to remember the overall cost total. It is very important that before you agree to the terms of a personal loan that you have made sure the overall cost of that loan will be considerably lesser than if you continue to make minimum payments on the debt you already have. Assess the costs above, if the cost is fairly close or more, then don’t take out the personal loan. It will do more damage to your current situation than good. Find out what the monthly payment will be as well. Imagine your shock if it ends up being more than what you are currently paying.

Personal loans are not secured by any collateral thus it is readily available to a lot of people. The loan can help them get what they need or want without the accompanying aggravation. Just remember that regardless of the loan seemingly an easy way to tide you over for the moment or to instantly give you what you fancy, the loan remains to be an obligation that you have to give attention to if you do now want to experience many sleepless nights.

Vittorio Hernandez – AHN News

Washington, D.C., United States (AHN) – The Obama administration has found an unexpected ally in a ratings agency in the White House’s battle with Republican legislators over spending cuts and hiking the federal debt limit. On Thursday, Moody’s warned that it may downgrade Washington’s credit rating if the U.S. debt ceiling is not hiked soon.

Moody’s said that the U.S. credit rating could downgraded because of a very small, but increasing risk of a short-lived default, which would likely translate into higher interest rates at a time when the country’s recovery is again on the slow lane.

The ratings agency anticipated there would be a political battle between the Obama administration and Republican legislators before the debt ceiling would be lifted, but Moody’s said that it failed to consider the worsening conflicting positions between the two parties. Washington wanted to raise the debt limit to $16.7 trillion from the current $14.3 trillion, but with no major spending cuts.

Moody’s warning came on the heels of a lower outlook by Standard & Poor’s of the AAA U.S. debt rating to negative from stable because of the political wrangling.

The House voted on Tuesday not to hike the federal debt limit without major spending cuts. At the Wednesday White House meeting of Republican legislators with U.S. President Barack Obama, the legislators asked the administration for a detailed plan on budget cuts to solve the impasse.

House Speaker John Boehner justified the lower house’s refusal to give in to Obama’s request because raising the debt limit beyond spending cuts would cost jobs for Americans. Obama, however, warned that failure to hike the debt limit soon would lead to dire consequences for the fragile, but recovering U.S. economy.

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