Obama Expected To Urge Israel Against Strike On Iran At Meeting

President Barack Obama has noted that he does not want war but insists an American attack against Iran would come if it was the only option left to stop the Arab nation from getting a nuclear weapon, The Associated Press reported.

According to the news outlet, the President noted that "loose talk of war" only plays into Iran's hands. He will try to persuade Israeli Prime Minister Benjamin Netanyahu to decrease the mounting pressure from many in his hawkish government to attack Iran's disputed nuclear development sites.

The AP reported that Obama is trying to avert a strike by the Israelis against Iran that could come as early as this spring, something that the U.S. government sees as dangerously premature.

"Now is not the time for bluster," Obama said of the potential for failure related to a pre-emptive attack. "Now is the time to let our increased pressure sink in."

USA Today reported that Obama took time to defend his support of Israel in a speech before the American Israel Public Affairs Committee, noting "there should not be a shred of doubt by now – when the chips are down, I have Israel's back."

Unemployment Applications Drop To Lowest Number In Four Years

The number of Americans who are seeking unemployment benefits dropped slightly last week to the lowest point in four years, another indication that the U.S. job market is improving, The Associated Press reported.

According to the news outlet, a seasonally adjusted 351,000 people sought unemployment aid, a drop from the 353,000 that filed for the government help the previous week, Labor Department figures showed on March 1. This figure represents a four-year low level.

Bloomberg reported that economists had forecast that the number would actually rise to 355,000.

According to the news outlet, firing is also on a downward trend as employers have gained confidence in the outlook for economic growth and a smaller number of job reductions also allows for these companies to hire additional employees as demand picks up.

“Firing is not holding back the labor market,” Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, told Bloomberg. “Businesses recognize that they don’t need to lay off any more people. Down the road, they’re going to realize they need to hire more people.”

Obama Notes Apology Over Quran Burnings Helped Quell Violence In Afghanistan

President Barack Obama said that his apology for the burning of Qurans at a U.S. military base has "calmed things down" in Afghanistan, after the incident triggered an outbreak of violence that led to the death of four U.S. service members and dozens of Afghans last week, NewsCore reported.

According to the news outlet, two more American troops were killed by an Afghan soldier and civilian opening fire on them on Thursday.

In an interview with ABC News' Bob Woodruff, Obama was asked if he thought his apologizing to Karzai and the Afghan government had improved the situation. President noted that "it calmed things down," but asserted that the U.S. was "not out of the woods yet."

"The reason that it was important is same reason that the commander on the ground, General Allen, apologized and that is to save lives and to make sure our troops who are there right now are not placed in further danger," said the President.

Reuters reported that the incident arose when Afghan workers found charred copies of the Quran at the U.S. military base near Kabul.

Birth Control Policy Faces First Vote In Senate

Lawmakers on both sides of the aisle are gearing up for the first vote in what has become a fierce battle over President Barack Obama's mandate that healthcare providers must cover the cost of contraceptives, Fox News reported.

According to the news outlet, the Senate will vote on March 1 to decide whether or not they want to quash the so-called "conscience" amendment that was authored by Senator Roy Blount (R-Mo.), a proposal that is designed to counter Obama's mandate.

This move would allow insurers and employers to opt out of any provision in the President's healthcare law to which they object on moral or religious grounds. That would include the requirement to cover the cost of birth control.

The Associated Press reported that Blount has led the push and presented the amendment to the Senate.

"The word 'contraception' is not in (the legislation) because it's not about a specific procedure," Blount said. "It's about a faith principle that the First Amendment guarantees."

U.S. Treasury Blocks Banks Dealing With Iran

The U.S. Treasury Department disrupted a Dubai-based banking operation that the Federal Government believes had become Tehran’s primary channel for evading international sanctions and processing its oil sales, according to a source who was briefed on the operation, The Wall Street Journal reported.

According to the news outlet, the effort to circumvent the sanctions was particularly sensitive because the institution-in-question in the United Arab Emirates is partly owned by the local government of Dubai, an ally of the U.S. The chairman of the bank, known as the Noor Islamic Bank, is the son of the ruler of the emirate.

The Journal reported that Noor, in mid-December, agreed to close off what the people briefed on the operation characterized as Iran’s single-biggest channel for repatriating foreign-currency receipts for oil purchases. According to estimations, this counted for as much as 60 percent of the Middle Eastern nation’s foreign oil sales by late 2011.

Reuters reported that the U.S. Treasury said banks who are involved with Iran “risk losing their correspondent account access to U.S. financial institutions,” according to David Cohen, the Treasury’s undersecretary for terrorism and financial intelligence.

GAO Audit Shows Federal Government Still Wasteful

A year after the investigators identified 81 areas where the government double-spends or has the potential to cut costs, President Barack Obama and Congress have solved just four of these problems, the Government Accountability Office (GAO) said in a follow-up report on February 28.

The Washington Times reported that in another report looking at other facets of the government, the GAO found more duplication or places where better use of technology or more clearly defined goals may save money for Washington.

"There are tens of billions of dollars that could be saved," Comptroller General Gene L. Dodaro, head of the GAO, said in submitting both reports to Congress.

The Hill reported the report set off a new round of finger-pointing and blaming the other side by lawmakers from both parties in Washington. The only problems that were addressed by the government were the streamlining of arms-control agencies, ethanol production, explosives investigation and a crackdown on the use of tax deductions by legal, non-resident aliens.

This alleged lack of progress in Washington was targeted by conservative lawmakers.

"Congress has done almost nothing to address problem areas GAO has already identified. This report shows why Congress has a 9 percent approval rating," Senator Tom Coburn (R-Okla.) said in a statement.

Obama Urges Governors To Increase Funding For Education

President Barack Obama urged governors across the country to invest more State resources in education, as he noted that a highly skilled workforce is crucial for the U.S. to remain competitive with other nations, The Associated Press reported.

According to the news outlet, Obama made his pitch at a White House meeting with governors in Washington as part of the annual winter meeting of the National Governors Association. The President and first lady hosted a black-tie event for the politicians on February 26.

The AP reported that the President sympathized with the governors whose State budgets have been significantly diminished by the economic downturn, but noted that this was no reason to cut resources from schools.

“The fact is that too many states are making cuts in education that I think are simply too big,” Obama said at the event. “Nothing more clearly signals what you value as a state than the decisions you make about where to invest. Budgets are about choices.”

CNN reported that the President also spoke to how the economic outlook is improving from the early days of his Administration, noting “our recovery is gaining speed.”

A Letter From Barry

Dear Joe:

Joe, as you know, my popularity numbers have been dropping faster than a free-falling safe. I’ve tried all the usual stuff like blaming my predecessor for everything, making up personal experience stories and flat out lying. The economy is in the toilet, and we are fighting so many wars that they even want me to give back my Peace Prize.  I’ve tried the liberal-standard “deny, deflect, delay” schemes and nothing has worked, so I’m in a bind. You know we even got the kids a dog and he really likes peeing in the Rose Garden. Michelle is really fond of all the servants, and I’m hooked on being able to play golf on all the best courses and not having to worry about inconvenient tee times. My Messiah image is getting shopworn, and people are talking about me being a one-term president.

You, on the other hand, have been a constant source of much amusement with your gaffes and have earned the reputation of being the village idiot. Hillary said, “It takes a village.” People can’t wait to see which foot you will put in your mouth next.

I’ve got a healthcare bill that I convinced the Congress to ram through, never thinking in my wildest dreams that anybody would actually read it. Well, they did read it, and I look like an idiot. I’ve got Attorney General Eric “Fast and Furious” Holder hanging around my neck like an anchor, but he’s “one of my people” so he’s untouchable. What I really need is a way to deflect attention from my lack of accomplishment and experience.

I’ve got the Occupy Wall Street bunch, which I initially supported. I even made a statement in support of them. Well, it turns out I backed the wrong horse in that race, because they are showing themselves to be nothing more than dope-smoking weirdos who don’t even want a job. Let’s face it: Defecating on a police car or stealing from a church is not something that looks good on a resume. Hey, even the American Nazi Party endorsed them! Luckily, Nancy (God Bless Them) Pelosi and Maxine Waters also praised them; so I can have my mouthpiece, Jay Carney, say something like, “What the President really meant,” thereby deflecting the blame.

I keep saying that we need to tax the millionaires, but the fact of the matter is that they are becoming an endangered species because of the lousy economy. Back in 2007, there were 400,000 of them; but in 2009, they dropped to just 235,000. I know what you’re going to tell me is that there are still enough of them to fill my re-election campaign coffers but I’ve got to protect what I’ve got, because the truth of the matter is that it doesn’t look like there are going to be any new millionaires anytime soon. The number of people 16 and older who have been unemployed for more than a year averaged 1.3 million in the past three recessions, but in 2010 there were 4.3 million. Twenty -Ten, Joe, that’s on my watch!! So how do I deflect that?

Joe, I have to cut this short because I have a 10 a.m. tee time. I’ll only be able to play 18 holes because Michelle wants me to take her out on a date night later on. Jeez, there’s not enough time to squeeze all this in. So let me get right to the point: I need you to take one on the chin for the home team. There’s no easy way to say it so I’ll come right out with it. Joe, I’m dumping you as my Vice President. There, I said it. You’re an old politician so you know it’s not personal, just business.

Look at what Hillary can bring to the table once you announce that you are stepping down for health reasons or because you want to spend more time with your family — you know the line. The most important thing is that she hasn’t been associated with the disastrous economic policies. Another thing is that she is going to be bringing the older white folks with her, and we need those votes — especially the women’s. She’ll also be bringing Bill. Lots of younger women like him, and he likes lots of younger women. More votes.

As you know, I’ll be going on another vacation with Michelle, the kids, the mother- in- law and about 50 close friends next week. Will that give you enough time to make your announcement, or do I need to get some of my Chicago friends to make you an offer you can’t refuse?

I’m also still searching all 57 states for any remaining golf courses I may have missed, so my time is limited.

Remember: It’s just business,

Barry

BARACK


–Frank Grochowski

Gold Prices Rise As Euro Increases Ahead Of ECB Financing

The price of gold rose on February 28, as a drop in the value of the American dollar coupled with gains made by the euro pushed the precious metals market skywards, Bloomberg reported.

According to the news outlet, the dollar fell versus the euro prior to the European Central Bank (ECB) allotting a second round of unlimited three-year funds to help bolster the region's banks.

"I like the $1,700 to $2,000 range based on the macroeconomic factors as they exist today," Chuck Jeannes, chief executive officer at producer Goldcorp Inc., told Bloomberg in an interview. "It’s certainly set the table for a much higher gold price."

Reuters reported that the euro climbed to a three-month high against the dollar ahead of the expected cash injection from the ECB, as the financial institution is expected to contribute 500 billion euros to help deal with the euro zone debt crisis.

Bloomberg reported that gold for April delivery, the most actively traded contract on the Comex in New York, rose 0.3 percent to $1,781.10 an ounce early in the morning on February 28. 

White House Money Helped Fund NYPD Surveillance

Millions of dollars in White House money has helped to fund New York Police Department programs that placed entire American Muslim neighborhoods under constant surveillance, The Associated Press reported.

According to the news outlet, the money is part of a little-known grant that was initially intended to help law enforcement combat drug crimes. Since the terrorist attacks of September 11, 2001, the President Barack Obama and Former President George W. Bush Administrations have provided $135 million to the New York and New Jersey region.

The AP reported that part of this funding was redirected to help pay for the NYPD's wholesale surveillance of places where Muslims eat, work, shop and pray.

The New Jersey Star-Ledger reported that this surveillance was initially done in 2005 with the permission of then-Governor Richard Codey, according to the State's records. The NYPD was given open-ended authority to operate in New Jersey in limited circumstances.

According to the newspaper, a letter was filed by several lawmakers in the State of New Jersey to U.S. Attorney General Eric Holder, calling for a probe of the surveillance.

"I am deeply concerned by reports that the NYPD’s law enforcement efforts focused on individuals who were not suspected of any criminal activity," wrote Senator Robert Menendez (D-N.J.) and Representative Bill Pascrell (D-N.J.). "While I strongly support credible efforts to prevent terrorism, I have grave concerns about any program that targets communities with no credible law enforcement intelligence."

Obama Adviser Defends President On Gas Prices

The rising cost of gas has prompted a public outcry in the U.S., something that the White House has looked to push back against as an adviser defended President Barack Obama over the pain at the pump argument made by the GOP, The Washington Times reported.

According to the news outlet, Obama spoke to the lack of Presidential power when it comes to energy prices in his weekly address on February 26, but Republicans attacked this notion, prompting a reply from one of the President's campaign advisers.

"There are a series of people that want [to] tell you that there are very easy magic-bullet solutions to the problems that we face. We know that’s not true," Robert Gibbs said in an interview with CNN.

Gibbs also spoke to the potential move by the White House to tap the nation's emergency oil supply, the Strategic Petroleum Reserves. This move would help to ease rising prices and was suggest by Democratic Congressmen, according to the Times.

Reuters reported that the national average cost for a gallon regular gasoline rose to $3.69, according to a survey of gas stations across the U.S.

Gun Ownership Difficult Despite Rulings By High Court

In 2008, following a court case that challenged the restrictive gun laws in Washington, D.C., the Supreme Court ordered local government officials to make it possible for law-abiding residents to own a gun, Fox News reported.

According to the news outlet, this ruling was a landmark 2nd Amendment win for guns rights advocates, but there has been growing disagreement among local residents about whether the decision made a difference.

Emily Miller, a senior opinion editor at The Washington Times and also a victim of a crime, decided to get a gun following the High Court's decision. She encountered many problems and in the end it took her five months and cost $500, plus the price of the firearm.

"These gun control measures are so counterproductive because they are not stopping the criminals from getting guns," Miller said. "They are stopping the law-abiding people from getting guns to protect themselves."

According to her article in the Times, Miller noted that there is a 22-page handgun restriction packet that is provided by the District of Columbia, but this information contains only three bullet points for guidance on legal transport of the firearm. 

Seven States Sue To Block Mandate For Contraception

Seven States filed a lawsuit to block the Federal government's requirement that religious organizations provide health insurance coverage that includes access to contraception for women, free of charge, NewsCore reported.

According to the news outlet, the attorneys general of Florida, Texas, Michigan, Oklahoma, South Carolina, Nebraska and Ohio jointly filed the lawsuit in a Nebraska U.S. District Court. Two private citizens, two religious non-profit organizations and a Catholic school also joined the States against the contraception mandate, part of President Barack Obama's sweeping healthcare reform.

NewsCore reported that the lawsuit asks a Federal judge to declare the mandate unConstitutional and enjoin the government from enforcing the law.

"The President's so called 'accommodation' was nothing but a shell game: the mandate still requires religious organizations to subsidize and authorize conduct that conflicts with their religious principles," Texas Attorney General Greg Abbott said in a statement. "The very 1st Amendment to our Constitution was intended to protect against this sort of government intrusion into our religious convictions."

POLITICO reported that Democratic House leaders recently used a hearing to again accuse House Republicans of ignoring women in the debate over the contraception mandate. 

California Judge Rules Government Cannot Deny Benefits To Same-Sex Spouses

A Federal judge in San Francisco ruled that the U.S. government cannot deny health benefits to the wife of a lesbian court employee by relying on legislation from 1996 that bars government recognition of same-sex unions, The Associated Press reported.

According to the news outlet, U.S. District Judge Jeffrey White said that because the Defense of Marriage Act (DOMA) discriminates against same-sex married couples, the government’s refusal to give health insurance to the wife of Karen Golinski is unjustified.

“The Court finds that DOMA, as applied to Ms. Golinski, violates her right to equal protection of the law … by, without substantial justification or rational basis, refusing to recognize her lawful marriage to prevent provision of health insurance coverage to her spouse,” White said in his decision.

The AP reported that Golinski, a staff lawyer for the 9th Circuit, has been trying to get spousal benefits for her wife since 2008.

The San Francisco Chronicle reported that DOMA was signed into law by former President Bill Clinton, and denies joint tax filing, Social Security survivors’ benefits and hundreds of other marital rights to same-sex partners.

Obama Sends Apology Letter To Karzai Following Quran Incident

The Afghan President’s office announced that it had received a letter from President Barack Obama apologizing for the burning of Qurans at a U.S. military base in Afghanistan, The Associated Press reported.

According to the news outlet, the statement from President Hamid Karzai’s office said the U.S. ambassador delivered the letter on February 23. In the apology, Obama expressed his “deep regret for the reported incident” and offers his “sincere apologies.”

The statement from Karzai’s office noted that Obama wrote: “The error was inadvertent; I assure you that we will take the appropriate steps to avoid any recurrence, to include holding accountable those responsible.”

CBS News reported that two U.S. troops have been shot to death and four more wounded, as an Afghan soldier turned his gun on his allies in apparent anger over the Quran-burning incident.

A statement from the International Security Assistance Force – Afghanistan, the international coalition in the nation, confirmed that the two American soldiers were killed in the Eastern part of the country by an individual “wearing an Afghan National Army uniform.”

Consumer Watchdog Launches Inquiry Into Overdraft Fees

The newly formed Consumer Financial Protection Bureau (CFPB) launched an inquiry into fees that were charged by banks when consumers overdraw their accounts, a practice that lands financial institutions billions of dollars, MarketWatch reported.

“Overdraft practices have the capacity to inflict serious economic harm on the people who can least afford it,” Richard Cordray, director of the CFPB, said in a statement.

According to the news outlet, banks typically provide overdraft “protection” when their customers overdraw their accounts. The institutions covers the transaction but also charge fees as high as $35 for each overdraft.

The unintended consequence, according to MarketWatch, is that a large percentage of bank profits from overdrafts come from low-income consumers who overdraw their accounts, as a type of short-term loan because they can’t cover living expenses.

The Associated Press reported that banks have marketed overdraft protection services aggressively, as they told consumers that opting out of the service “may prevent you from completing everyday transactions including…medical or health emergencies.” Certain financial institutions increased their fee income through a practice known as “re-ordering,” as they would collect all transactions in a given day and then apply them in order from largest to smallest.

White House Unveils Corporate Tax Reform Plan

The President Barack Obama Administration unveiled a corporate tax reform plan on February 22, lowering the top income-tax rate for corporations while eliminating deductions, Fox News reported.

According to the news outlet, the top income-tax rate, if the plan is adopted, will drop from 35 percent to 28 percent for corporations, and firms with overseas operations will also now face a minimum tax on their foreign earnings. This would work in conjunction with new tax benefits for U.S. manufacturers to provide incentives for keeping work in America.

This new tax plan aims to raise $250 billion over 10 years, as money would come from firms like oil and gas companies, which would lose many large deductions and subsidies along with paying a higher amount of taxes.

"Our tax system should not give companies an incentive to locate production overseas or engage in accounting games to shift profits abroad, eroding the U.S. tax base. Introducing the principle of a minimum tax on foreign earnings would help address these problems and discourage a global race to the bottom in tax rates," according to an outline provided by a senior official from the Administration.

Bloomberg reported that the new tax code, if adopted, will still include incentives for research and development and renewable energy.

Tax Foundation Analysis Shows ‘Fair Share’ Not Paid By All

The idea of a what constitutes a "fair share" when paying taxes to the Federal government has come into question, as an analysis by the Tax Foundation showed that half of the working population pays no income tax at all, according to Fox News.

"The top 10 percent income earners pay about 70 percent of Federal income taxes," Will McBride of the Tax Foundation, told the news outlet. "The bottom 50 percent of tax filers have, they pay almost no Federal income tax. They pay about 3 percent of Federal income taxes."

The "fair share" idea has been championed by President Barack Obama in several speeches and the State of the Union address, but many people who do not have to pay income taxes end up also receiving credits that lead to refunds from the government, Fox News reported.

"Right now about 70 percent of Americans take more out of the tax system than they put into it, according to the Tax Foundation," Arthur Brooks, head of the American Enterprise Institute, told the news outlet.

The analysis from the Tax Foundation came after the President released his FY2013 budget, which would see Federal borrowing rise to 76.5 percent of the nation's GDP by 2022, according to Fortune.

U.S., Mexico Agree To Cooperate On Gas And Oil Drilling

The U.S. and Mexico agreed to work together in drilling for oil and gas below their maritime border in the Gulf of Mexico, The Associated Press reported.

According to the news outlet, Secretary of State Hillary Rodham Clinton and Mexico's foreign minister signed the deal at a ceremony in Los Cabos, as Interior Secretary Ken Salazar and Mexican President Felipe Calderon looked on.

The AP reported that the cooperation between the two countries dates back to an agreement between President Barack Obama and Calderon regarding a move to share in the profits and work together to avoid spills.

Clinton said that the deal would help to "ensure safe, efficient, responsible exploration of the oil and gas reservoirs in the Gulf of Mexico."

"These reservoirs could hold considerable reserves that would benefit the United States and Mexico alike," she continued, noting that the agreement would prevent disputes over who should get the rights to the resources and who would do the extraction.

The New York Times reported that the deal is called "The Transboundary Agreement" and will make up to 1.5 million acres of offshore territory claimed by the U.S. available for leasing by June 2012.

Gold Prices Rise After Greek Debt Deal Boosts Euro

The price of gold rose for a second straight day on February 21, as a rally in the euro spurred by an agreement between European finance ministers and Greece helped to boost the value of the precious metal, Reuters reported.

According to the news outlet, Euro zone finance ministers agreed to a $172 billion bailout for Greece, a move which may help the Aegean nation avoid a chaotic default. Private bondholders agreed to take greater losses and Athens committed to make deep cuts in spending.

"Gold is trading more like the other metals – as a risk asset, rather than a risk hedge," David Wilson, an analyst at Citigroup, told Reuters. "You'd have thought that all the macro issues would be supportive for gold, when looking at U.S. and European debt and a slowing China, but it seems to be largely driven by the dollar/euro."

According to CNN, the price of gold rose $24.20 to $1,750.10 an ounce for April delivery, the most actively traded contract on the New York Mercantile Exchange. This marked an increase of 1.40 percent for the commodity. 

Bacon And Eggs, Breakfast Of Choice For Pregnancy

If you’re pregnant and have a hankering for bacon and eggs, you’ve got good nutritional evidence to back up your culinary desires. Research into fetal development shows that the fetal brain needs relatively large amounts of choline for proper growth. Both bacon and eggs are rich in this nutrient which is also found in other meats.

“We may never be able to call bacon a health food with a straight face, but the emerging field of epigenetics is already making us rethink those things that we consider healthful and unhealthful,” says Gerald Weissmann, MD, Editor-in-Chief of the FASEB Journal where the latest study was published. “This is yet another example showing that good prenatal nutrition is vitally important throughout a child’s entire lifetime.”

Epigenetics, the study of how genes behave, shows that an expectant mother’s nutrition influences the behavior of fetal cells. In this study, the choline in bacon and eggs helped fetal brain cells develop regions associated with memory. Nuts are also a good source of choline.