Rock Island, IL/August 20, 2012 - Please welcome Courtney Boothe to the Media Link team! Courtney is a recent college graduate with a great love of the Quad Cities. She will serve as the Office Manager and Search Engine Marketing (SEM) Manager for the full service advertising agency.

Courtney says "I am so happy to have this opportunity to work at Media Link. The Quad Cities is home to me and it is a dream come true to be able to help out a locally owned business such as Media Link Inc and the clients they help."

Courtney is a 2011 graduate of Carthage College, where she was a double major in Public Relations and Communication. Courtney has gained a wide range of knowledge through her studies. Classes ranged from Rhetoric and Persuasion to Managerial Accounting to the Principles of Marketing. While at Carthage, Courtney was a four year varsity swimmer and member of the social fraternity, Tau Sigma Chi. One summer during her college career, Courtney actually served as a Marketing Intern for Media Link. She is looking forward to getting back into the swing of things in the office and utilizing her previous knowledge. After college, Courtney brought her love of swimming back home to the Quad Cities where she Assistant Coached the Moline Middle School Swim Team. In her spare time, Courtney is a college sports junkie; spending her Saturdays in the fall at Northwestern Football games.

 

"Courtney is an amazing addition to our team.  She is so driven, precise and creative.  It was a dream having her intern with us while she was in College and we're fortunate to have the chance to bring her on board and keep her in the Quad Cities," exclaims Natalie Linville-Mass, President of Media Link, Inc.

Media Link is a full-service integrated marketing firm specializing in strategic media buying and placement. Media Link works with businesses in the Quad-Cities and around the country to develop and execute customized marketing strategies to help them more effectively reach their customers. Media Link recently developed and launched its own media buying software system, Media Link Software.  This company is also one of the only marketing firms in the region to have obtained an 8(a) SDB certification, a designation of significance to clients who contract with the federal government.

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DES MOINES, IA (08/19/2012)(readMedia)-- Young competitors from across Iowa earned breed championships in the Youth Dairy Cattle Show judged Thursday, August 9, at the 2012 Iowa State Fair.

Exhibitors were also judged on their showmanship skills. The Showmanship award is given for the exhibitors' ability to present their livestock in the show ring and answer any questions the judge may ask about their animal.

Breed division winners in the Youth Dairy Cattle Show included:

AYRSHIRE

Junior Champion: Logan Worden, Oelwin

Junior Reserve Champion: Brad Arthur, Maynard

Senior Champion: Kaleb Kruse, Dyersville

Senior Reserve Champion: Sammie Rathjen, Walcott

Grand Champion: Kaleb Kruse, Dyersville

Reserve Grand Champion: Sammie Rathjen, Walcott

GUERNSEY

Junior Champion: Lars Sivesind, Waukon

Junior Reserve Champion: Landon Sivesind, Waukon

Senior Champion: Carley Kammerude, Dubuque

Senior Reserve Champion: Austin Knapp, Epworth

Grand Champion: Carley Kammerude, Dubuque

Reserve Grand Champion: Austin Knapp, Epworth

HOLSTEIN

Junior Champion: Scott Stempfle, Maynard

Junior Reserve Champion: Isaac Lyons, West Union

Senior Champion: Riley Demmer, Peosta

Senior Reserve Champion: Ashley Bushman, Calmar

Grand Champion: Riley Demmer, Peosta

Reserve Grand Champion: Ashley Bushman, Calmar

JERSEY

Junior Champion: Brian Arthur, Maynard

Junior Reserve Champion: Cole Kruse, Dyersville

Senior Champion: Ross Wedewer, Epworth

Senior Reserve Champion: Eric Metzger, Lester

Grand Champion: Ross Wedewer, Epworth

Reserve Grand Champion: Eric Metzger, Lester

MILKING SHORTHORN

Junior Champion: Ashley Bushman, Calmar

Junior Reserve Champion: Megan Bushman, Calmar

Senior Champion: Halie Gruenwald, Lost Nation

Senior Reserve Champion: Bradley Byers, Milo

Senior Grand Champion: Halie Gruenwald, Lost Nation

Reserve Grand Champion: Bradley Byers, Milo

SHOWMANSHIP

Junior Champion: Regan Demmer, Peosta

Intermediate Champion: Jessica Stempfle, Maynard

Intermediate Reserve Champion: Mitchell Hanson, La Porte City

Senior Champion: Austin Knapp, Epworth

Senior Reserve Champion: Michael Lyons, Castalia

"Nothing Compares" to the 2012 Iowa State Fair, August 9-19. The Fairgrounds are located at East 30th and East University Avenue, just 10 minutes east of downtown Des Moines, and are open 7 a.m. to 1 a.m. each day of the Fair. Exhibit hours may vary. For more information, call 800/545-FAIR or visit iowastatefair.org.

* * *

The nearly five million visitors to the Grand Canyon National Park in Arizona each year stare in awe at the canyon's long 277 river miles that can be up to 18 miles wide and about a mile deep.

However, even amidst this beauty, the Environmental Protection Agency (EPA) is focused on the haze in the national park and says it is coming from a very important electricity source in the area.

The Navajo Generating Station (NGS), a coal-fired power plant that supplies electricity for the 14 pumping stations required to move water to southern Arizona?to about 80 percent of the state's population?is being blamed for creating poor air quality in the national park.

Currently, this power plant meets all federal clean air guidelines?except the EPA's interpretation of the Regional Haze Rule.

The goal of the EPA's Regional Haze Rule is the "remedying of any existing impairment of visibility" at 156 National Park and Wilderness areas throughout the U.S.  Congress approved of this amendment to the Clean Air Act in 1977, however, power to set standards of emissions was left to the states?not the EPA.  The EPA's role was to simply provide support.

Now the EPA seems to be trampling on the state's authority to control emissions standards by creating its own set of standards.  Is the EPA really that concerned about cleaning up haze or is this just another aggressive move to push out the coal industry?

If the EPA decides that the NGS power plant needs additional emissions control technology, owners of the power plant can expect to invest $1.1 billion, with no promise of improved air quality in the national park.

Furthermore, the plant is located on land owned by the Navajo Nation.  Its long-term lease with the tribe expires in 2019.  If the power plant operators can't guarantee a renewed lease beyond 2019, investing more than $1 billion into the plant isn't a viable option.  Depending on the EPA ruling, NGS might shutdown?costing 1,000 jobs, 90 percent of them belonging to the Navajo tribe.

Not only would this hurt the local economy, already plagued with high unemployment, but it would effectively destroy the water source to southern Arizona?leading to skyrocketing water rates.

How does the EPA get away with destroying communities like this one?

A political game.  It is no secret that many environmental groups ally with the EPA.  But what if these groups don't think the EPA is doing its job or going far enough? They sue.  The EPA then settles agreeing to fix the problem. Therefore a court-imposed deadline on the EPA leaves it with no other option but to override the state's regulations and enforce its own controls.

The U.S. Chamber of Commerce, in a report titled, "EPA's New Regulatory Front: Regional Haze and the Takeover of State Programs," highlights how the EPA, along with court-mandated deadlines, has wheedled its way into state territory by delaying state plans for emission control.

"By combining this tactic of delaying approval of the state plans with Sue and Settle and a court-imposed deadline to act, EPA has manufactured a loophole to provide itself with the ability to reach into the state haze decision-making process and supplant the state as decision maker. EPA has, effectively, engineered a way to get around the protections of state primacy built into the Regional Haze statute by Congress."

Get full story here.

Thune, Grassley Question Obama Administration on Taxpayer Funding of Faltering Battery Manufacturer Following Planned Chinese Investment

WASHINGTON, D.C.–U.S. Senators John Thune (R-S.D.), Chairman of the Senate Republican Conference, and Chuck Grassley (R-Iowa), Ranking Member of the Senate Judiciary Committee, today sent a letter to the Obama administration's Department of Energy (DOE) questioning the use of taxpayer dollars to shore up another faltering stimulus-funded company, A123 Systems Inc. Last week, a Chinese-based company, Wanxiang Group Corp., announced a substantial investment in the U.S. battery manufacturer, which could result in Chinese ownership of the company that could still receive over $100 million in U.S. taxpayer funds.

Thune and Grassley sent a letter to the DOE on June 25th requesting more information on Stimulus money transferred to A123 as it related to the taxpayer-backed loan guarantee to the troubled auto company Fisker. The Obama administration failed to address the senators' questions in a response letter.

The text of the senators' letter sent today is included below.

 

August 14, 2012

 

Dr. Stephen Chu

Secretary

Department of Energy

1000 Independence Avenue, SW

Washington, DC 20585

 

Dear Secretary Chu:

We write today in regards to the Department of Energy (DOE) grant to A123 Systems, Inc., and the recent announcement of Wanxiang Group Corp, a China-based company, to heavily invest in the U.S. battery manufacturer.

In 2009, A123 was awarded a $249.1 million grant through the American Reinvestment and Recovery Act of 2009 (Recovery Act).  In a letter dated June 25, 2012, we asked you how much of this grant has yet to be transferred to A123.  Although you failed to answer this straightforward question, media reports indicate that A123 has approximately $120 million of the $249.1 million grant currently outstanding.

Recently, A123 and the China-based Wanxiang announced a $450 million deal to save the struggling battery manufacturer.  According to media reports, Wanxiang will purchase $200 million of A123's secured debt and provide up to an additional $250 million in financing.  A key part of this transaction gives Wanxiang the option to transfer some of this debt into ownership of the company, which could result in Wanxiang owing 80 percent of A123.

Billions of U.S. taxpayer dollars have flowed to foreign companies through the Recovery Act, and we are concerned that the recent announcement could lead to even more taxpayer dollars going overseas.  Given that A123 could soon be owned by a Chinese company, please answer the following questions with regards to this transaction and A123's outstanding Recovery Act grant:

1.         How much of A123's $249.1 million Recovery Act grant is still outstanding?

2.         Considering that A123 has already received millions of U.S. taxpayer dollars and could potentially receive up to $450 million from a foreign company, does A123 need additional taxpayer dollars to continue its operations?

3.         If the A123-Wanxiang transaction is approved, how will that impact future distributions of A123's Recovery Act grant, if at all?

4.         If the A123-Wanxiang transaction is approved and Wanxiang exercises its option to convert A123's debt into equity, does DOE still plan to distribute the unused portion of A123's Recovery Act grant?  If so, why?

5.         What assurances does DOE have that Wanxiang will not simply wait until the additional grant money is awarded and then exercise its option to convert A123's debt into ownership of the U.S.-subsidized company?  Would DOE view that as an appropriate outcome?  If so, why?

6.         What assurances, if any, does DOE have that the A123-Wanxiang transaction and additional DOE funding through the Recovery Act will not lead to a transfer of taxpayer-funded intellectual property to a China-based company, or that the taxpayer funded manufacturing jobs will remain in the United States?

7.         With the recent announcement that Wanxiang will be investing in A123, will the DOE place additional milestones on A123's progress before awarding the additional Recovery Act grant dollars, and if so, what would those be?   What assurances does DOE have, if any, that A123 has solved its technical problems and that A123 will become profitable in the near future?

8.         In an August 3, 2012, letter to us, Acting Executive Director of DOE's Loan Program Office David Frantz wrote that, "(t)he Department is in constant dialogue with A123 to stay abreast of progress, challenges, plans and developments to assure that the project is meeting the objectives as defined in the grant.  DOE is also continually monitoring risk and financial conditions.  As part of this "continual monitoring" when did DOE become aware of A123's pending transaction with Wanxiang?

9.         Did DOE raise any objection to this transaction?  If so, when?  Please provide documents supporting any objection raised by DOE to this transaction.

Thank you for your cooperation and attention in this matter.  We would appreciate a response by August 21, 2012.

Sincerely,

 

John Thune

Charles Grassley

-30-

Renews call for extension of Wind Tax Credit

Washington, D.C. - Congressman Dave Loebsack today welcomed the release of a report from the U.S. Energy Department that highlights the surge in manufacturing and jobs directly related to the wind energy sector.  Loebsack has been a longtime supporter of wind energy programs and has been leading the fight in Congress to extend the Production Tax Credit (PTC).  He has visited wind energy plants across Iowa to see firsthand the need for stability that an extension of the PTC would provide and has repeatedly urged the House and Senate leadership to protect these good Iowa jobs.  Loebsack was also named a USA Wind Champion by the American Wind Energy Association for his ongoing support of wind energy in Iowa and working to extend the PTC.

"The release of this report confirms what many Iowans already know - that the wind energy industry across the state is strong and provides good jobs in our local communities," said Loebsack.  "Congress must get its act together and pass a long-term extension of the Production Tax Credit and not block the continued growth of the wind industry here in Iowa.  If the tax credit is not extended on a long-term basis, it will create uncertainty and put Iowa jobs and the Iowa economy in jeopardy."

A copy of the report can be found here.

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New report shows increasing federal minimum wage would give more than 28 million American workers a raise, create jobs, and give boost to local economy

(Rock Island County, Ill) - A new report from the Economic Policy Institute (EPI) shows more than 1,238,225 workers in Illinois would benefit, directly or indirectly, from an increase to the federal minimum wage (see attached report).

Increasing the federal minimum wage from $7.25 to $9.80 per hour would give these workers a raise while generating approximately 4,500 jobs in Illinois, over three years, finds the new EPI Issue Brief authored by Doug Hall, How raising the federal minimum wage would help working families and give the economy a boost.

Nicole Thompson, a minimum wage worker in Rock Island, says a raise in the minimum wage would greatly help her family pay for basic necessities like food and utilities "Sometimes I have to go to the food pantry just to feed my family." Thompson works more than 40 hours a week.

In contrast to prevailing myths about minimum-wage workers, raising the federal minimum wage would benefit millions of workers across demographic groups, not just teenage part-time workers. Almost 88 percent of workers who would be affected are at least 20 years old. Female and non-minority workers would benefit disproportionately from the increase; women comprise nearly 55 percent of those affected, and non-Hispanic white workers make up about 56 percent.

While increasing the minimum wage immediately benefits the lowest-paid workers through boosted earnings, it also yields positive effects on the larger economy. Raising the federal minimum wage to $9.80 would put nearly $40 billion in the hands of directly and indirectly affected families, augmenting their spending power in the local economy. In return, these families would be more likely than any other income group to spend these extra earnings immediately on basic needs or services they could not previously afford.

[mog1] This additional spending power would be a useful tool to spur job growth, as employers would need to hire new staff to keep up with heightened demand for goods and services. In fact, an increase in the federal minimum wage from $7.25 to $9.80 per hour would result in a net increase in economic activity of approximately $25 billion, generating approximately 100,000 new jobs. This hike would have a positive impact across the country, with job creation in every state.

EPI researchers show that raising the minimum wage would provide a substantial lift to the national economy and benefit workers still reeling from the effects of the recession, generating almost $40 billion in increased wages.

"With the national unemployment rate not budging below 8.0 percent, now is the perfect time to raise the minimum wage," said Hall. "Not only will it generate billions of new dollars for the economy while adding new jobs when we sorely need them, it will begin to address the wage stagnation working families have faced during the last four decades, while putting more money in their hands when they need it most."[mog2]

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Uncertainty Surrounding Production Tax Credit Threatens Remarkable Expansion

WASHINGTON - The Energy Department released a new report today highlighting strong growth in the U.S. wind energy market in 2011, increasing the U.S. share of clean energy and supporting tens of thousands of jobs, and underscoring the importance of continued policy support and clean energy tax credits to ensure that the manufacturing and jobs associated with this booming global industry remain in America. President Obama has made clear that clean, renewable wind energy is a critical part of an all-of-the-above energy strategy that aims to develop more secure, domestic energy sources, while strengthening American manufacturing.    According to the 2011 Wind Technologies Market Report, Iowa is one the country's largest and fastest growing wind markets, ranking second among all U.S. states in percentage of in-state electricity generation from wind power. The report finds that in 2011, Iowa installed 647 megawatts (MW) of new wind power capacity, bringing its total to over 4,300 MW, or enough to power about 1 million homes. With this installed capacity, Iowa can generate about 20 percent of its electricity from wind energy.

"This report shows that America can lead the world in the global race to manufacture and deploy clean energy technologies," said Energy Secretary Steven Chu.  "The wind industry employs tens of thousands of American workers and has played a key role in helping to more than double wind power over the last four years. To ensure that this industry continues to stay competitive, President Obama has called on Congress to extend the successful clean energy tax credits, which are benefitting businesses and manufacturers nationwide."

Nationally, wind power represented a remarkable 32 percent of all new electric capacity additions in the United States last year and accounting for $14 billion in new investment.  According the report, the percentage of wind equipment made in America also increased dramatically.  Nearly seventy percent of the equipment installed at U.S. wind farms last year - including wind turbines and components like towers, blades, gears, and generators - is now from domestic manufacturers, doubling from 35 percent in 2005. See an interactive map of manufacturing facilities across the U.S., including those in Iowa HERE.

The report also finds that in 2011, roughly 6,800 megawatts (MW) of new wind power capacity was added to the U.S. grid, a 31 percent increase from 2010 installations.  The United States' wind power capacity reached 47,000 MW by the end of 2011 and has since grown to 50,000 MW, enough electricity to power 13 million homes annually or as many homes as in Nevada, Colorado, Wisconsin, Virginia, Alabama, and Connecticut combined. The country's cumulative installed wind energy capacity grew 16 percent from 2010, and has increased more than18-fold since 2000. The report also finds that six states now meet more than 10 percent of their total electricity needs with wind power, with Iowa ranking second nationally.

The growth in the industry has also led directly to more American jobs throughout a number of sectors and at factories across the country.  According to industry estimates, the wind sector employs 75,000 American workers, including workers at manufacturing facilities up and down the supply chain, as well as engineers and construction workers who build and operate the wind farms. In Iowa alone, the industry supported 4,000 to 5,000 direct and indirect jobs in 2010. For instance, at ACCIONA Windpower's West Branch assembly plant 100 workers are working to produce 1.5 MW and 3 MW wind turbines. In Des Moines, Keystone Electrical Manufacturing Company has seen power control system orders from the wind industry grow from almost nothing a decade ago to nearly 22 percent of gross sales today.

Technical innovation allowing for larger wind turbines with longer, lighter blades has steadily improved wind turbine performance and increased the efficiency of power generation from wind energy.  At the same time, wind project capital and maintenance costs continue to decline, driving U.S. manufacturing competitiveness on the global market. For new wind projects deployed last year, the price of wind under long-term power purchase contracts with utilities averaged 40 percent lower than in 2010 and about 50 percent lower than in 2009, making wind competitive with a range of wholesale power prices seen in 2011.

Despite these recent technical and infrastructure improvements and continued growth in 2012, the report finds that 2013 may see a dramatic slowing of domestic wind energy deployment due in part to the possible expiration of federal renewable energy tax incentives. The Production Tax Credit (PTC), which provides an important tax credit to wind producers in the United States and has helped drive the industry's growth, is set to expire at the end of this year. The wind industry projects that 37,000 jobs could be lost if the PTC expires. Working in tandem with the PTC, the Advanced Energy Manufacturing Tax Credit provides a 30 percent investment credit to manufacturers who invest in capital equipment to make components for clean energy projects in the United States. President Obama has called for an extension of these successful tax credits to ensure America leads the world in manufacturing the clean energy technologies of the future.

See the full annual report and download underlying data produced by the Energy Department's Lawrence Berkeley National Laboratory HERE.

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By Rick Manning

The Congressional Budget Office provided a glimpse at the 10-month mark of the federal fiscal year 2012, and the results are grim.

Outlays are virtually the same through 10 months of 2012 as they were in 2011 at $3 trillion and revenues collected during this same period are slightly higher at approximately $2 trillion.  This means that our nation is guaranteed to run another trillion dollar-plus budget deficit this year.

The nitty gritty numbers show that in the federal fiscal spending year ending Sept. 30, 2011, the government ended up spending more than $3.6 trillion with revenues of $2.3 trillion leaving a $1.3 trillion deficit ? that's $1,300,000,000,000.00.  If laid end to end, 1.3 trillion dollar bills would go around the circumference of the earth 5,040 times.

If the spending and revenue of the first 10 months of FY12 continue at the same rate through the end of the year, FY12 will be slightly less disastrous with outlays projected to hold steady at $3.6 trillion while revenues increase to $2.4 trillion leaving a $1.2 trillion deficit give or take $50 billion.

That makes four consecutive years that Obama has presided over a budget deficit in excess of $1.2 trillion and more than $5 trillion added to the deficit on his watch.

The chart below from the Office of Management and Budget demonstrate the reality of the budget wars in D.C. and provides some small hope to those who have been frustrated by House Republicans' seeming inability to win the spending battle.  If there is solace to be found, the fact that actual outlays are a full $200 billion short of Administration estimates is some small win.  It is this flattening of the outlays that is largely responsible for the meager reduction of our exploding deficit that was accomplished.

Before our nation's budget cutters go howling in the streets declaring victory is near, if this Congress had just held spending to the same levels as they were the year they were elected, the budget deficit would have dropped by around $150 billion more.

While Obama flies courtesy of the taxpayer around the country declaring a need for higher taxes, the point that he hopes no one notices is that during the Clinton Administration tax revenues only exceeded $2 trillion one time in his last year FY 2000, but in that year, outlays were under $1.8 trillion. Today, revenues are projected to have grown by 20 percent since 2000, while outlays have doubled in those 12 years.

Get full story here.

AARP SURVEY: NEW "ANXIETY INDEX" REVEALS ECONOMIC ISSUES FACING, DRIVING VOTERS 50+ IN 2012 ELECTIONS

Across party lines, voters want more information candidates' plans to strengthen Social Security and Medicare.

WASHINGTON - In the coming November elections, a key group of voters - non-retired baby boomers ages 50-64 - are driven by economic anxieties that extend well beyond the single issue of jobs, according to the results of a new series of surveys by AARP.  All voters age 50+ want the candidates to better explain their plans for Social Security and Medicare, which will help them determine their votes.

50+ Voters' Financial Outlook: Dissatisfied and Anxious

The particular pressures facing boomer voters - across party lines - are reflected in a new "Anxiety Index," which measures their worries on issues including prices rising faster than incomes (75% worry somewhat or very often about this), health expenses (62%), not having financial security in retirement (73%) and paying too much in taxes (71%).  By comparison, 32% of these boomer voters regularly worry about being able to find a full-time job with benefits or keep up with their mortgage or rent (30%), issues that are more widely discussed as leading economic issues for voters in the coming election.

"We know the issue of jobs is very important to voters age 50-plus, but any meaningful discussion of the economy and this year's election has to include the future of Social Security and Medicare," said Nancy LeaMond, AARP Executive Vice President.  "For these voters, 'retirement security' and 'economic security' are largely the same thing."

Non-retired boomer voters are pessimistic about retirement.  Almost three-in-four (72%) believe they will have to delay retirement, and almost two-in-three (65%) worry they won't have enough to retire.  Half of these voters (50%) don't think they'll ever be able to retire. They overwhelmingly (59%) believe the recent economic downturn will force them to rely more on Social Security and Medicare.

Anxiety about retirement security is a main driver for all voters 50+.  Nearly seven-in-ten (69%) of retired voters 50+ worry about prices rising faster than their incomes, and almost half (48%) worry about having unaffordable health expenses, despite the relative security provided by Medicare.  Only four-in-ten (42%) African-American voters 50+ are confident that they will have enough money to live comfortably throughout their retirement.  Hispanic voters 50+ overwhelmingly say that the recent economic downturn negatively impacted their personal circumstances (84%) and will force them to rely more on Social Security and Medicare (69%).

50+ Voters and the 2012 Elections

Economic anxieties among voters 50+ are leading to a general dissatisfaction with political leaders.  Voters 50+ are as likely to say that their personal economic circumstances were negatively affected by political gridlock in Washington (78%) as by the economic downturn (77%).  Almost half (49%) of these voters disapprove of President Obama's job performance, and more than eight-in-ten (81%) disapprove of Congress.  As of now, voters 50+ evenly are split in their presidential vote preference (45% for President Obama, 45% for Governor Romney, and 10% not sure).

The concerns of 50+ voters highlight the importance of Social Security and Medicare as election issues.  They think the next president and Congress need to strengthen Social Security (91%) and Medicare (88%).  They also overwhelmingly (91%) think that these issues are too big for either party to fix alone and require Republicans and Democrats to come together.

Voters 50+ are looking to the candidates for more information on these key issues.  These voters overwhelmingly think the candidates have not done a good job of explaining their plans on Social Security (67%) and Medicare (63%).  Moving forward, these voters - across party lines - say that getting more information on the candidates' plans on Social Security (72%) and Medicare (70%) will help them determine their vote on election day.

"The message from voters 50+ is clear," added LeaMond.  "In a razor-tight election, candidates have a major opportunity to reach key voters by speaking about their plans on Social Security and Medicare - and they are making a huge gamble if they ignore them."

Earlier this year, AARP launched You've Earned a Say, a national conversation to ensure that Americans have a say in the future of Social Security and Medicare.  Through You've Earned a Say, AARP is taking the discussion about the future of Medicare and Social Security out from behind closed doors in Washington.  To date, more than 2.1 million Americans have engaged with You've Earned a Say to share their thoughts about how best to protect and strengthen health and retirement security for today's seniors and future generations.

For more information, please visit www.earnedasay.org.  For complete results of AARP voter surveys, please visit www.aarp.org/voters50plus.

Methodology

AARP commissioned Hart Research Associates and GS Strategy Group to conduct a series of surveys of registered voters ages 18+, which were conducted by telephone July 10-16, 2012.  For the national survey, blinded telephone interviews were conducted with 1,852 registered voters (core sample of 1,001, plus oversamples of voters 50+, African American voters 50+ and Hispanic voters 50+).  The margin of error for the primary national sample of 1,001 is ±3.1%, for the sample of 536 non-retired baby boomers it is ±4.2%, and for the sample of 1,331 voters age 50 and over the margin of error is ±2.7%.  Additional oversample surveys were conducted in Colorado, Florida, Nevada, Ohio, Virginia and Wisconsin.

About AARP

AARP is a nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people 50+ have independence, choice and control in ways that are beneficial to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for Americans 50+ and the world's largest-circulation magazine; AARP Bulletin, the go-to news source for the 50+ audience; AARP VIVA, a bilingual lifestyle multimedia platform addressing the interests and needs of Hispanic Americans; and national television and radio programming including My Generation and Inside E Street. The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org.
DeMarco resists costly taxpayer bailout on mortgages

By Robert Romano

On July 31, Federal Housing Finance Agency (FHFA) acting director Edward DeMarco once again rejected an Obama Administration plan to bail out borrowers who owe more on their mortgages than their homes are worth, citing cost concerns.

The FHFA, which administers the government's conservatorship of Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac, undertook an analysis of the program, showing reductions of mortgage principal owed for certain borrowers would cost taxpayers more and even potentially result in more defaults.

Even under the program's best case scenario, the Agency estimated just 248,000 borrowers would be eligible for principal forgiveness under the Home Affordable Modification Program Principal Reduction Alternative ? or just 2.2 percent of the 11.1 million borrowers nationwide who are underwater.

That means that even if DeMarco had implemented the program, approximately 97.8 percent of underwater borrowers would not have even been eligible. Therefore, more than $700 billion of the $717 billion of negative equity in homes nationwide would have remained unaddressed.

In other words, even if DeMarco had relented, this bailout would have done almost nothing to solve the problem of underwater borrowers. Yet, Treasury Secretary Timothy Geithner, in a letter to DeMarco responding to his decision not to implement the bailout, maintained the fiction that the program would somehow "help repair the nation's housing market".

New York Times columnist and economist Paul Krugman goes further, calling for DeMarco to be fired for not implementing a bailout almost nobody would qualify for, writing, "even if there's a small net cost to taxpayers, debt relief is still worth doing if it yields large economic benefits."

But even if debt relief did yield economic benefits in certain cases, this is not one of them.

According to the FHFA, some 80 percent of underwater borrowers who have GSE mortgages are current on their payments. But that could change if a bailout is implemented.

As DeMarco noted in his letter to Congress, selective application of the program could create a perverse incentive for borrowers to miss payments and potentially default in a misguided attempt to qualify for the bailout.

Under the program's best case scenario ? where all 248,000 underwater borrowers qualify ? if just 19,000 of the 10.8 million remaining borrowers who did not were to strategically default, it would more than offset any potential benefit derived.

As a result, "HAMP PRA would result in a net loss to taxpayers, even using the model-based assumptions most favorable to the program," wrote DeMarco.

Of course, it's all political. Don't let anyone tell you different.

"Obama's goal is to build a constituency of borrowers underwater on their mortgages with the hope that they might ? emphasis on might ? be able to get some relief," said Americans for Limited Government President Bill Wilson, calling it "nothing more than a cynical election year ploy."

Get full story here.


ObamaCare Going Into Effect, Maine Fights Back

Video by Frank McCaffrey

Get permalink here.



K Street Republicans' war on Palin

By Rick Manning

As originally published at TheHill.com.

I'm getting sick of the rewriting of 2008 presidential campaign history as K Street Republicans continue to assault Sarah Palin in the fear that a similarly conservative Republican will rise to the top of the VP sweepstakes.

It has been so fashionable in D.C. Republican circles to bash the Palin nomination as a mistake, ill-conceived or even disastrous, that even Dick Cheney has gotten into the act.

These self-serving attempts to change history are nothing more than a smear campaign designed to influence the Romney VP pick by obscuring the truth that the choice of Sarah Palin to be the vice presidential nominee was truly inspired.

The McCain campaign was in the doldrums. Unable to match the youth and enthusiasm of the inexperienced but expert campaigner from Illinois, McCain needed to shake up the race, and Palin accomplished just that.

Her incredible acceptance speech, delivered in spite of a faulty teleprompter (try that, Mr. President), gave the nation a new face and voice for conservative principles just when it was desperately needed.

That same energy from the convention rolled over into the 2010 election, embodied in the Tea Party movement and leading Republicans to a historic victory.

History shows that it was the McCain campaign that blew any chance at election when it suspended its efforts fully three weeks after the nomination to come back to D.C. and rubber-stamp the TARP bailout.

Having agreed upon the legislative actions that socialized losses by too-big-to-fail banks, McCain lost all ability to differentiate between himself and the big-government policies advocated by Obama.

Pollster Scott Rasmussen reported on Sept. 20, 17 days after the Palin pick, that his daily Presidential Tracking Poll "shows Barack Obama with 48 percent of the vote and John McCain with 47 percent. While Obama's lead is statistically insignificant, it is the first time he has held even a single-point advantage in a week and a half. One week ago today, McCain was up by three points."

For the mathematically challenged, this means that less than two months from the election, McCain and Palin were leading in the polls.

Rasmussen goes on to say, "Obama's gains over the past week came as the focus shifted from the momentum generated at the Republican National Convention to the economic rollercoaster ride that played out on Wall Street. Few agreed with McCain's initial statement about the economy being fundamentally sound and neither candidate has yet convinced voters that he will bring the needed changes to the financial markets."

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ALG Editor's Note: In the following featured editorial from the Pittsburgh Tribune-Review, the board lays waste to Harry Reid's claims that Mitt Romney paid no taxes:

 

The Reid smear: Vermin droppings

Harry Reid beats his wife.

The Senate majority leader also leaves restaurants without paying his bill.

And the Democrat of Nevada lets his dog poop in his neighbor's yard and never cleans it up.

We don't know any of this to be true, mind you. But we have heard these allegations. From whom? Sorry, we're not in the habit of revealing our sources.

Of course, it's up to Mr. Reid to prove otherwise.

Reid doubled-down last week on his allegation that presumptive Republican presidential nominee Mitt Romney did not pay any federal taxes for a 10-year period. An unnamed investor with Bain Capital, Mr. Romney's former company, told him so, Reid said.

And, he added, it's now up to Mr. Romney to disprove the anonymous and undocumented charge.

"So the word is out that (Romney) hasn't paid any taxes for 10 years," Reid said from the Senate floor, rhetorically elevating a smear to a faux fact like so many vermin droppings. "Let him prove that he has paid taxes, because he hasn't."

Romney denies the charge. "It's time for Harry to put up or shut up" and produce proof of his allegation, he said.

Expect that to happen on the same day that Harry Reid actually is arrested for beating his wife, for not paying his restaurant tab and letting Fido do the big No. 2 in the neighbor's yard.

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