What's in the debt ceiling bill (Politico)

Congressional leaders are making the final push for a deal to raise the debt-ceiling ahead of Treasury?s Tuesday deadline to avoid default.

The final package was posted by the House Rules Committee Sunday night, taking the form of a 74-page amendment that will serve as the ?Budget Control Act of 2011."

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Here?s POLITICO?s take on what is in the details.

RAISES THE DEBT CEILING

President Barack Obama has a fairly easy path to getting the debt ceiling raised between $2.1 trillion and $2.4 trillion. Initially, the debt limit is increased by $400 billion, when the president certifies that it is within $100 billion of being exceeded. An additional $500 billion cap room is created if Congress does not pass, with veto-proof majorities, a resolution disapproving of the increase sought by the president. The total up-front increase is $900 billion, assuming that there?s not enough support in Congress to stop it. Another $1.2 trillion hike occurs when the president seeks it ? but that figure would rise to $1.5 trillion if a balanced budget amendment to the Constitution has been sent to the states for ratification or a level between $1.2 trillion and $1.5 trillion if a new deficit-reduction committee?s plan is enacted and its legislation exceeds $1.2 trillion savings. The $1.2 trillion increase could be halted if Congress approves a joint resolution of disapproval, which is unlikely.

DISCRETIONARY SPENDING CAPS

The deal puts in place the annual discretionary spending caps found in the bill the Republican-controlled House passed last week worth about $917 billion in cuts over 10 years. But those caps, from $1.043 trillion in fiscal 2012 to $1.234 trillion in fiscal 2021, are now split between ?security? and ?non-security? spending, enforceable by across-the-board cuts. The bill defines the ?security category? as ?discretionary appropriations associated with agency budgets for the Department of Defense, the Department of Homeland Security, the Department of Veterans Affairs, the National Nuclear Security Administration, the intelligence community management account, and all budget accounts under international affairs.

THE SUPERCOMMITTEE

The top leades in each party in each chamber would appoint three members to a 12-person joint select committee that would be charged with coming up with $1.2 trillion or more in deficit reduction. The committee would report by Nov. 23, and the bill provides for expeditd floor procedures for voting in each chamber by December 23. If the committee fails to report a bill by Nov. 23 ? or either house fails to act within a month after that ? the committee loses its special privileges.

THE HAMMER

If Congress doesn?t act on the supercommittee recommendations ? or if the new law doesn?t meet the deficit-reduction goals ? new cuts based on the difference between $1.2 trillion and whatever is enacted (perhaps nothing) would go into effect. The reductions would be divided equally between security and non-security programs.

MISCELLANY

Under the deal, Pell Grants get an extra $20 billion in funding over the next two years, and the bill cuts subsidized loans for graduate students.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//us.rd.yahoo.com/dailynews/external/politico_rss/rss_politico_mostpop/http___www_politico_com_news_stories0811_60380_html/42452735/SIG=11m9qqirm/*http%3A//www.politico.com/news/stories/0811/60380.html

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Atlas Travel Insurance ? To Safe Your Journey Ideas | Accident Claims

Have you ever heard Of Travel insurance for over 70? Journey ideas of any person can go haywire as well as the most nicely planned trip can change into a nightmare as a result of unexpected events. While no one wishes for calamities to damage their travel programs, sometimes catastrophic things do transpire therefore incurring a whole lot of economic reduction. Taking a travel insurance coverage policy can aid safeguard you in opposition to economic losses. Atlas Direct Travel Insurance is amongst the top journey insurance businesses supplying diverse varieties of travel insurance coverage. Once you are insured with Atlas, you are able to relaxation assured that all of your losses will be taken care of.

Why Get Atlas Travel Insurance coverage Cover Although Traveling?

The answer to this query is simple. Anybody organizing a visit abroad needs a travel insurance cover. A whole lot of risk is involved whenever you are traveling overseas. There?s constantly an opportunity of one?s luggage obtaining broken or misplaced. There might be a medical predicament which needs immediate hospitalization. There might be accidents, flight delays and natural calamities like earthquakes and floods that necessitate you cutting brief your trip. There could possibly be political unrest or terror attacks inside the country you happen to be going to. These can disrupt your travel plans and also drain you financially. You may need a journey insurance to fulfill these unexpected brief falls. The cheap worldwide Travel Insurance coverage has developed a particular insurance policy for travelers which cover them versus all guy created and natural disasters, making certain a fruitful and difficulty free trip.

Who is Eligible for Atlas Travel Insurance?

The Atlas Journey Insurance provides journey insurance to any 1 traveling abroad. The minimum age limit to avail travel cover is 14 days. The minimum cover interval is 15 days and stretches to a maximum cover range of one yr. The travel insurance might be taken to get a month or fifteen days period or multiples thereof. For people below 70 a long time that are traveling abroad, the general insurance limit ranging from $50,000 ? $ one,000,000 is offered. For octogenarians and above, the overall greatest limit is $10,000.

The Atlas Journey Insurance coverage cover will grow to be successful as soon as the full premium has long been compensated; possibly from your day you depart the country or even the date requested by you inside the submitted application. The insurance cover automatically ends once the insurance coverage period has elapsed as for each the date mentioned within the application type. The insurance coverage cover may also arrive to an finish on return to residence nation, unless of course the insured is qualified for home country protection or a advantage period of time has become opted for.

What does Atlas Travel Insurance coverage Cover?

?Emergency Healthcare Evacuation: Atlas Journey Insurance coverage will spend for almost any healthcare emergency wherever you?ll want to be evacuated to a hospital. In this kind of circumstances, Atlas also provides cover for 1 household member to join you in which ever before you are and pays for travel and keep although you recuperate.

?Repatriation of Stays: In case of sudden demise, the insurance coverage organization aids in acquiring the stays towards the home nation and also pays the price of transportation.

?Hospitalization Cover: Within the event of you becoming hospitalized, the insurance cover pays $100 for each night at the hospital.

?Interruption in Trip: Incase of trip interruption caused by a hurricane or flood hitting your home inside your property nation, economic climate class airfare is compensated for your flight to the airport nearest for your house.

?Terror Attacks: You happen to be covered for all health-related expenses in situation you might be involved inside a terror assault and sustain injuries.

?Political Crisis: When the location of your journey includes a sudden political crisis and also you need to be evacuated, the travel Insurance will organize for the departure and spend for every one of the charges incurred.

?Pregnancy Complications: A pregnant lady is covered for any pregnancy connected problems only for the primary 26 weeks with the gestation.

?All-natural Calamities: A optimum of $100 is compensated for any time period of 5 days in case of the all-natural catastrophe like earthquakes, tsunami and floods which render you with out a location to keep.

?Return of Youngsters: In the event of you being hospitalized for much more than 36 hrs, Atlas Insurance will spend for your minor young children to return house.

The most effective insurance cover is a single which gives you cover under all feasible situations. The Atlas Journey Insurance coverage covers you for all doable conditions which could occur while you might be traveling overseas.

Source: http://www.accidentsclaims.net/atlas-travel-insurance-to-safe-your-journey-ideas/

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Florida allows trusts to pay for a pet's care

Most people who take the necessary steps to put together an estate plan are doing so for the benefit of their loved ones, family and friends. But many people have other loved ones, and make plans for their beloved pets. When millionaire hotelier Leona Helmsley left $12 million to her dog in her estate plan, the bequest made headlines. Not everyone was impressed by Helmsley's decision to leave so much for her dog and give less to her family, but nonetheless the news reports raised visibility of planning for the care of pets when the owners die.

Today there are facilities around the country that serve essentially as retirement homes for pets. Most states, including Florida, allow for the establishment of a trust in order to pay for a pet's care.

The trust can give instructions as to how the pet should be cared for, who will look after them and what money will be spent on the pets' upkeep.

Many Florida will and trust lawyers recommend that people considering establishing a trust for the care of a pet take a careful look at what the actual expenses of the pet's upkeep are.?Regular expenses such as food, veterinarian bills and grooming are easy to remember, but many animals have special needs and special medications that must not be overlooked in calculating their future upkeep.

The other component is choosing a trustee to manage the financial affairs for the animal, and a caretaker who will actually care for the pet. Family members or an agency can be chosen for either role, and the same person does not necessarily need to fulfill both functions.

Source: northjersey.com "Pet estate planning ensures lifetime care after owner's death" 7/12/2011

Tags: family and friends, lifetime care, millionaire, necessary steps, trustee

Source: http://www.ramoney.com/florida-allows-trusts-to-pay-for-a-pets-care/

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Public Employees Feel The Heat In The Sunshine State

Florida Gov. Rick Scott at a news conference last month in Tallahassee.
Enlarge Steve Cannon/AP

Florida Gov. Rick Scott at a news conference last month in Tallahassee.

Steve Cannon/AP

Florida Gov. Rick Scott at a news conference last month in Tallahassee.

As in Wisconsin, Ohio and other states, Florida's public employees and their unions are on the defensive.

Republican Gov. Rick Scott has proposed a budget that cuts thousands of public jobs and requires workers to contribute part of their salaries to their pensions.

Plus, the Republican-controlled Legislature is close to adopting a measure that directly targets public employee unions.

In Tallahassee, it's a familiar site at the Capitol ? a noontime rally under the rotunda held by members of the state's public employee unions. This event is billed as a performance evaluation of Scott's first 100 days in office.

Barbara Welmuth, a teacher and union member from the Tampa area, rates the governor's job performance as "unsatisfactory."

"As the CEO of Florida, Governor, I ask you to keep your promise ? to fully fund public education and to change your position on taxing the teachers, firefighters and police officers of this state," Welmuth says.

Scott, a former hospital CEO, campaigned on the promise that he would run Florida like a business. One of his first proposals was to make big changes to the state pension system. He also wants to require public workers to contribute part of their salaries toward their pensions.

For workers, it amounts to a pay cut ? somewhere between 3 and 5 percent a year. The unions call it a tax.

"We should have done this before," Scott says. "We don't have a plan that's fully funded. We're the only state where state employees are not participating. So, we've got to do something that the employees know that they have a plan and something that's fair to taxpayers."

As state pension plans go, fiscally speaking, Florida is in relatively good shape. But in a state with a $4 billion budget deficit, the Legislature has embraced the idea because of its savings ? estimated at about $1 billion.

But for state, county and local employees in Florida, the pension changes were just the beginning. The governor has pledged to pare state worker rolls by 5,000 jobs and has proposed steep cuts in education spending.

"There may be tens of thousands of layoffs from schoolteachers and school employees," says Doug Martin, a lobbyist who represents many state workers. "So this is an extremely difficult environment."

Florida's governor and Legislature are also moving toward privatizing some prisons, public hospitals and health services. If those plans go forward, they would move thousands of state workers into the private sector and likely make big changes to their pay and benefits.

Members of public employee unions in Florida feel they've become targets. And they're right, according to Juan Gonzales, a lobbyist with Associated Industries of Florida, a powerful business group in Tallahassee.

He traces the rancor back to an education bill passed last session by the Legislature. After many rallies and much lobbying, teachers convinced then-Gov. Charlie Crist to veto it.

"The union was very successful," Gonzales says. "They showed their strength and power last session. And so, I think members of the Republican leadership thought, 'Hey, these guys really came to bat, so let's put them on the defensive.' "

Others in Tallahassee call it payback. If so, it's not confined to Florida. It's happening in other states, too.

One example is a bill that would ban public unions in Florida from collecting dues from members through paycheck deductions. Similar Legislation has been introduced in other states, including California and Alabama.

Florida state Sen. John Thrasher says his bill is not about payback or a national anti-labor agenda.

"It's about what I campaigned on in my district, and that's limited government," Thrasher says. "Government simply ought not to be in the business of being the tax collector for people who are involved in political processes."

That view was not shared by more than 100 members of public employee unions, who packed a hearing room in Tallahassee on Wednesday.

"It's to gag the voice of the working people of Florida," says Steve Sarnoff, who works in the city of Clearwater's solid waste department. That's what this is about, pure and simple."

Despite the strong union opposition, the dues deduction ban was passed by a Senate committee and seems likely to become law between now and the beginning of May, when the legislative session comes to a close.

Rich Templin, the head of Florida's AFL-CIO, concedes that the best he can hope for this session is to limit the damage and look to the future.

"I don't think that anyone is looking at this session in isolation," Templin says. "May is not the end; May is just the beginning. And folks need to get mobilized and ready to make a change in government in November."

That's November 2012. For members of Florida public employee unions looking at pay cuts and layoffs, that's a long way off.

Source: http://www.npr.org/2011/04/14/135399201/public-employees-feel-the-heat-in-the-sunshine-state?ft=1&f=3

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The Steel Wheels On Mountain Stage

The Steel Wheels performed on Mountain Stage.
Enlarge Brian Blauser/Mountain Stage

The Steel Wheels performed on Mountain Stage.

Brian Blauser/Mountain Stage

The Steel Wheels performed on Mountain Stage.

  • "Nothing You Can't Lose"
  • "Valley"
  • "Long Way to Go"
  • "Surround Me"

Harrisonburg, Va., band The Steel Wheels makes its first performance on Mountain Stage with songs from the acclaimed album Red Wing. The quartet has built a following through the region's biggest festivals, including Bristol Rhythm & Roots Reunion, Floydfest, Folk Alliance, Appalachian Uprising, and at roots music venue The Purple Fiddle.

The Steel Wheels' rootsy blend walks the line between bluegrass, blues and gospel music. Singer, guitarist and principal songwriter Trent Wagler is joined by Jay Lapp on mandolin, Brian Dickel on upright bass and Eric Brubaker on fiddle. All four contribute to the band's stirring vocal harmonies. For the song "Long Way to Go," Lapp trades out his mandolin for an acoustic baritone guitar built by Dickel, an accomplished luthier in his own right. For the closer, "Surround Me," the group puts its instruments aside altogether to deliver a powerful a cappella performance.

Source: http://www.npr.org/2011/04/13/135376992/the-steel-wheels-on-mountain-stage?ft=1&f=10001

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California Real Estates ? Blog Archive ? Real Estate Owned ...

  • Price: $124,900, City: Riverbank, Square feet: n/a
  • Location: Lindbrook Dr, Riverbank, CA, 95367

This property is an REO (Real Estate Owned). This is the final step in the foreclosure process. Ownership has reverted to the lender. This 1411 square foot property has 3 bedroom(s) and 2 bath(s). The estimated sale price is $124900. To access more

  • Property Type: n/a
  • Listing type: Foreclosure
  • Listing status: Active
  • Bedrooms: 3
  • Bathrooms: 2
  • Agent: n/a
  • Broker: n/a
  • Author: RealtyTrac

Source: http://california-ca.realestatelistingusa.com/real-estate-owned-property-in-riverbankca-330872882

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Windows 7 closes gap with XP, is poised to steal top market share this month

As recently as a year ago, Windows XP was the kingpin of PCs in the US with 43.1 percent market share. But that's rapidly changing. StatCounter shows that while Mac OS X is creeping up slightly and Windows Vista continues its death march, Windows 7 is on the rise, steadily closing the gap with trusty ole' XP. Last month, XP's share sank to 32.17 percent, while Windows 7's edged up to 30.84 percent, leaving the latter poised to overtake XP -- something the much-maligned Vista never did. And if early numbers are to be believed, it's already happened: StatCounter says that for the first week in April Windows 7's share (among desktops, at least) totaled 31.71 percent, compared with XP's 31.56. Either way, it seems Microsoft has convinced consumers that it's finally safe to upgrade.

Windows 7 closes gap with XP, is poised to steal top market share this month originally appeared on Engadget on Mon, 11 Apr 2011 11:26:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/04/11/windows-7-closes-gap-with-xp-is-poised-to-steal-top-market-shar/

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Beige Book-Philadelphia: Business Activity Improved Overall -1 ...

WASHINGTON (MNI) ? The following is the first part of the text of
the Philadelphia section of the Federal Reserve?s Beige Book report on
current financial conditions released Wednesday:

Business activity in the Third District has improved overall since
the last Beige Book. Manufacturers reported increases in shipments and
new orders in March. Retailers achieved slight year-over-year increases
in sales in March. Motor vehicle dealers also reported year-over-year
sales increases in March. Third District banks reported little overall
change in loan volume outstanding since the last Beige Book, although a
few reported increased lending on home equity credit lines and growth in
small business lending. Residential real estate agents reported some
increase in activity since the last Beige Book as measured by inquiries,
showings, and traffic, but little pickup in sales or construction.
Contacts in the commercial real estate sector said that leasing and
construction activity have remained slow since the last Beige Book.
Service-sector firms reported some increases in activity. Business
contacts reported further price increases for inputs as they did in the
previous Beige Book. Output price increases have also been reported in
several sectors, but by fewer contacts than for factor prices.

The outlook among Third District business contacts is positive and
has strengthened slightly. Manufacturers forecast a broad rise in
shipments and orders during the next six months. Retailers expect sales
to increase modestly on a year-over-year basis. Bankers expect only
slight growth in lending over the next two quarters. Contacts in
residential real estate have mixed views, although some expect a pickup
in sales of existing homes. Contacts in commercial real estate expect
market conditions to improve slowly during the year. Service-sector
companies expect continued slow growth through the first half of 2011.

Manufacturing

More than half of Third District manufacturers reported increases
in shipments and new orders in March a stronger response than in
February. Producers across a broad spectrum of 13 manufacturing sectors
reported increased demand. The strongest reports came out of the
fabricated metal products and industrial machinery and equipment
sectors. Declines in orders were predominant only among producers of
apparel and rubber products. While several manufacturers cited existing
customers as the source of increased orders, other sources included new
product offerings and expanding international opportunities.

Over two-thirds of Third District manufacturers expect business
conditions to improve during the next six months. Among the firms
surveyed in March, over 60 percent expect increases in new orders and
shipments, and less than 5 percent expect decreases. One supplier of
construction industry materials reported receiving contracts extending
further out into the fourth quarter. Plans to increase capital spending
became more widespread with over one-third of area manufacturers
projecting an increase over the next six months.

Retail

Third District retailers generally reported slight year-over-year
increases in sales in March. One merchant said, \Things are getting a
little better, but there is no move to stronger growth.. Retailers
indicated that sales of furniture and home goods have risen recently,
but sales of spring apparel have been slow to pick up, which retailers
attributed to unseasonably cold weather and the late Easter date this
year. Some retailers said they have experienced shortages of a few goods
produced by Japanese companies, mainly electronic products, but as of
late March there did not appear to be a widespread interruption of
imports of consumer goods from the Far East. Store executives surveyed
for this report expect the current modest rate of sales growth to
continue through the spring.

Third District auto dealers generally reported that sales were
above the year-ago level in March and were continuing to move up. Some
dealers of various brands noted the beginning of supply interruptions
due to halts of vehicle and parts production in Japan resulting from the
earthquake and subsequent problems there. These dealers said the supply
problem had not yet become serious, but they did not know how extensive
it might become or how long it might last. Dealers reported that demand
for large vehicles has not declined yet despite the recent increase in
the price of gasoline. Dealers said they see evidence of \pent-up
demand. and they expect sales to remain strong as long as economic
conditions are improving and the price of gasoline does not rise much
higher.

Finance

Total outstanding loan volume at most of the Third District banks
contacted for this report has shown little change in recent weeks. Some
banks in the region reported recent increases in lending extended on
home equity credit lines, but other forms of consumer credit have been
level or moved down. Some banks reported increases in commercial and
industrial loans and some types of commercial real estate loans. One
banker said, ?We?re making more small business loans, and commercial
real estate lending is picking up except for retail properties.? The
outlook among Third District bankers interviewed for this report is that
total oan volume will expand slowly this year, as overall economic
activity advances, with gains mostly in commercial and industrial and
consumer lending, but lending for residential or commercial construction
is not expected to increase.

-more- (1 of 2)

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: M$U$$$,MMUFE$,MGU$$$,MFU$$$]

Source: http://www.forexlive.com/180419/all/beige-book-philadelphia-business-activity-improved-overall-1

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Debt Consolidation ? The Pros & Cons - Finance blog -

Debt Consolidation ? The Pros & Cons

Every essential selection we attain in chronicle is preceded by a time of thoughtful consideration, and for the wise, a enthusiastic care of study and comparability of the options that are involved. A debt compounding give is digit of those essential issues, an essential choice to study when attempting tackling resistless debt. Looking at the pros and cons will support you modify if a debt compounding organisation is right for you.

The Nuts & Bolts of Consolidation
Debt compounding is when a sort of short-term unsecured loans (credit cards, individualized loans, etc.) are rolled into one, long-term, secured loan. One monthly commercialism is paying to the compounding consort or assign counseling agency, who in turn will attain the individualist payments to the individualist creditors. A debt compounding organisation eliminates the requirement to attain separate payments to apiece of your creditors. It is mostly a intense intent to accept a compounding organisation as a way of extending credit; however, for those who are willing to budget prudently, they crapper be an superior way to come debt issues.

The Pros of Consolidation

Peace of Mind ? Perhaps the most unappreciated goodness of a compounding organisation is the stress relief that comes when what was thoughtful out-of-control becomes governable and a constructive modify is in sight.
Simpler Debt Management ? Manage a single, inevitable give commercialism instead of binary ones will simplify monthly payments.
Lowered Interest Rates & Minimum Payments ? Creditors haw modify the welfare rate or the peak monthly commercialism on the debt you owe, while working with a debt compounding plan, effectively saving you money meet for choosing to consolidate your assign accounts. A modify of a some proportionality points crapper liberated up assets that crapper be practical to a savings or retirement account.
Reduction in Monthly Payments ? Debt compounding will ordinarily reduce totally monthly expenses. In addition, with repayments spread discover over a individual punctuation of time, monthly payments are typically significantly lower.
No more Late & Overdraft Fees ? Many grouping who are struggling to direction their assets undergo the interference of existence live for New payments and feat over-the-limit. With a debt compounding plan, these are no individual a problem.
Accounts Closed ? When a creditor agrees to a compounding plan, they will require the statement be winking to boost charging until the equilibrise is paying off. Although you haw see this as a negative, some actions that preclude the constituent of more debt will support you see to rely more upon your income and inferior on credit.

The Cons of Consolidation

Risks of a Secure Loan ? While individualized and assign bill loans are unsecured, deconsolidation is typically a secured give that requires collateral, typically your home. This puts your bag at risk, if you change to ready up repayments.
Accounts Frozen ? When a creditor agrees to a compounding plan, they will require the statement be winking to boost charging, until the equilibrise is paying off.
Difficulty in Securing New Credit ? Even though it goes against your efforts of effort discover of debt, there are times when a newborn assign statement haw be necessary, same for an emergency.
Higher Total Interest ? With a individual term loan, the total welfare paying over the chronicle of the debt will be higher.

The plus of having exclusive digit monthly payment, especially for those who hit had problems performance binary payments, cannot be overstated for the advantages. The effect on your assign report will be constructive in the daylong run, but haw hit a perverse effect right after a debt compounding organisation is accepted. Contact digit of our agencies to watch if they hit a organisation that meets your needs.

Source: http://www.myfinanceblog.info/debt-consolidation-%E2%80%93-the-pros-cons/

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