the Progress Report … A Goldman Sachs Insider Speaks

A Goldman Sachs Insider Speaks

By ThinkProgress War Room on Mar 14, 2012 at 4:44 pm

Epic Resignation Letter Underscores Need for Tougher Rules on Wall Street

This morning, a now-former Goldman Sachs executive, Greg Smith, published a truly epic resignation letter in the New York Times. Smith wrote that he resigned from Goldman due to its “toxic and destructive” environment which included managing directors referring to their own clients as “muppets.”

The entire letter is worth a read, but here’s the key part:

Today is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money…It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail….These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?”

Smith also described how Goldman’s thirst for profits at all costs developed:

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm…you will be promoted into a position of influence.

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Perhaps unintentionally, Smith’s editorial made a compelling case for the Volcker Rule, an element of the Dodd-Frank Wall Street Reform Act that would prohibit proprietary trading at federally-backstopped institutions. Banks like Goldman, which made billions of dollars by making “shitty deals” that sold mortgage-backed securities and other complex derivative products to unwitting customers then turned to taxpayers for a bailout when too many of those deals went sour, would no longer be able to make those trades without giving up access to the Federal Reserve’s emergency lending and the FDIC’s backing. (Remember, Goldman converted into a bank holding company at the height of the financial crisis, in order to access the Fed’s emergency lending programs.)

While Goldman offered an official response, it also appears to be launching a behind-the-scenes smear campaign against Smith as well.

Evening Brief: Important Stories That You May Have Missed

Nearly 70 percent of Americans support “continuing to pursue negotiations with Iran” while only a quarter support an Israeli military attack on Iran’s nuclear facilities, say a new poll released today by the Program on International Policy Attitudes (PIPA) and the University of Maryland.

Rep. Peter King’s (R-NY) “Manhunters” video sparks U.S. Marshals probe.

Foreign Policy writes that the viral video Kony 2012 oversimplifies the atrocities committed by Joseph Kony and “is infantile, lowest-common-denominator activism” that, while making a celebrity of Joseph Kony, engages in “tried and true paternalism” over Africans.

All of that talk about about a brokered GOP convention may not just be talk after all.

Land owners kept in dark about fracking violations on their property

Rush Limbaugh’s syndicator may have lost as much as $2 MILLION in advertising revenue so far.

Rich voters love Romney, others less so.

Arizona Republicans move forward with “tell your boss why you’re on the pill” bill.

Rush Limbaugh today: “How can I be anti-woman? I even judged the Miss America Pageant!”

 

Other recent Progress Reports

Mar 13, 2012: Rush On The Rocks

Advertiser Exodus Grows Exponentially It’s becoming increasingly clear that Rush Limbaugh’s vile, sexist attacks on Sandra Fluke and other women have taken a severe toll on his show. Here’s the latest. At least 140 Companies Have Dumped Limbaugh ThinkProgress has obtained an internal memo from Premiere Radio Networks listing 96 national companies that have “specifically [...]

Mar 12, 2012: BLOCKADE: The GOP’s Unending Effort to Block Obama’s Nominees

GOP Obstructionism, By the Numbers It’s no secret that Republicans have done everything in their power to throw up road blocks for President Obama at every turn. And nowhere is their power to block the president greater than it is in the Senate, where Republicans have effectively imposed a blockade on the president’s nominees for [...]

Mar 9, 2012: Jobs Day, By the Numbers

Jobs, Jobs, Jobs Today is Jobs Friday. Here’s the rundown on the monthly employment report from the Department of Labor. -647,000…the number of jobs created lost in state and local governments since August 2008. -22,000…the average number of public sector jobs created lost each month in 2011, thanks to ongoing spending cuts at all levels of government [...]

Mar 8, 2012: Is the 1% Pledge Falling Apart?

Mr. 1 Percent’s Iron Grip Fades Mr. 1 Percent, Grover Norquist, is best known for convincing nearly every single Republican in the House and Senate (and a handful of Democrats) to sign his pledge swearing that they will never, ever vote for a tax increase, nor to close any tax loopholes. What’s the practical impact [...]

Shelley Berkley FOR Senate –

One of the most important things we saw in 2010 was just how powerful we are when we stand together, fight for our values, and refuse to give up.

Shelley Berkley is running for Senate to create jobs in Nevada, protect medicare, build clean energy infrastructure, and make sure we keep the promise we’ve made to our veterans.

 But our victory on Election Day in 2010 wasn’t the end of the battle to move Nevada forward, it was just the beginning. We showed the special interests that defeating tough Democrats here in the Silver State is not an easy charge.

 You’ve done so much to support me, and that’s why I’m writing you today. Shelley Berkley needs your help because you’ve seen what she’s up against this election cycle, and you know what fighting back is going to take.

 If you would prefer to not receive occasional updates from Shelley, you can click here to unsubscribe from her list.

 Shelley is taking on the same special interests who tried so hard to defeat us. They’re determined to keep Nevada’s Senate seat out of the hands of someone who will always stand on the side of middle class families, and refuse to do the bidding of special interests in Washington.

 If you want to unsubscribe from her list, you can click here right now and you won’t receive any emails from her campaign. But I hope you’ll stay in touch. The fight to move Nevada forward continues, and you can be a huge part of this effort.

  -Harry

 PS: If you decide later that you want to unsubscribe, you can always look at the bottom of any email for a link like this: click here to unsubscribe.

Media Matters for America – Muslim Surveillance, Texas Voter ID Law & Romney says Fox News is fair and balanced

Ignoring Critics, Right-Wing Media Defend NYPD Muslim Surveillance While Pushing Anti-Muslim Rhetoric

Fox Defends Texas’ Voter ID Law With Fraud

Romney Says Fox News Is “Pretty Fair And Balanced” And Not “Shilling For Anyone”

Fox’s Gutfeld: “Feminists Should Be Outraged” Over High Gas Prices Since It Limits Women’s Access To Birth Control

Year of the progressiv​e women …Julia Rosen, MoveOn.org Political Action

 Maine Republican Sen. Olympia Snowe announced this week that she is abruptly abandoning her reelection bid.1

 This is huge! It significantly improves Democrats’ chances of holding on to the Senate this fall. Even better,it’s a tremendous opportunity to send a progressive champion to the Senate—Congresswoman Chellie Pingree. 2012can truly can be the year of the strong progressive woman with Chellie joining Elizabeth Warren and Tammy Baldwin to runfor the Senate.

 Why should we be excited about Chellie? Quite simply, she kicks butt like fewpeople in Washington do. Since being elected to Congress with MoveOn members’ support, she has organized other members ofCongress to fight for a health care public option and to defend the Clean Air Act.2 Before that she was thedirector of Common Cause, a leading group working to get big money out of politics.3

 A number of candidates may run, but Chellie would be by far the best: think Elizabeth Warren or Paul Wellstone.She’s leaning yes but has only a few days to decide.

 We need to demonstrate right now that Chellie is the clear progressive choice for Maine and that MoveOnmembers will have her back. The best way to do that is to pledge to give Chellie whatever you can afford to support hercampaign, so we can make her the instant front-runner in the race.

 We’ve set an ambitious goal of gathering $200,000 in pledges for Chellie Pingree in 48 hours. You don’t haveto enter your credit card info. Just click on an amount below to pledge:

 www.MoveOn.org

 Here’s how it will work: You tell us how much you’d give. Then we let Chellie, the press, and all of theother candidates who are considering running know how much MoveOn members have pledged to give to her campaign.

 All of the potential challengers, including leading Republicans, are carefully watching how much support Chellieis getting from progressives like you. And if we all rally to her side right now, they may decide not to run.

 In just the past couple days, Maine MoveOn members have helped build great momentum for Chellie’s candidacy. Chellietold The Huffington Post:

 ”We’ve gotten so many emails, calls, people offering to volunteer. I think MoveOn delivered 2,000 petitionsto our office in Maine saying, ‘Please run.’ Clearly there’s already a ton of focus on this race and the role it could playin determining who controls the balance of power in the Senate. And I’m really excited about it.”4

 No matter what happens, it won’t be an easy election, but it’s one Chellie can win, if MoveOn members rallyto her side. We have to show Chellie that she’ll have the resources she needs to win the race. This isour chance to elect a champion to the Senate to join Elizabeth Warren and Tammy Baldwin. This can be the year of the progressivewomen, but only with your support.

 Will you let us know how much you’d pledge to Chellie’s campaign right now, and ask all your friends to dothe same?

www.MoveOn.org

Thanks for all you do.

 –Julia, Adam, Steven, Elena, and the rest of the team

 Sources:

 1. “Olympia Snowe Won’t Seek Re-election,” The New York Times, February 28, 2012

http://www.moveon.org/r?r=271793&id=36475-17809870-bzRvqxx&t=11

 2. “Harkin: Public option backers eyeing second reconciliation bill,” The Hill, March 24, 2010

http://www.moveon.org/r?r=271794&id=36475-17809870-bzRvqxx&t=12

“Suggesting Amendments To Waxman-Markey Bill, 49 Lawmakers Call For A Stronger Green Economy,” ThinkProgress.org,June 25, 2009

http://www.moveon.org/r?r=271812&id=36475-17809870-bzRvqxx&t=13

3. “Chellie Pingree,” Wikipedia, accessed February 28, 2012

http://en.wikipedia.org/wiki/Chellie_Pingree

4. “Chellie Pingree: ‘I’m Not Likely To Say No’ To Senate Bid,” The Huffington Post, February 29, 2012

http://www.moveon.org/r?r=271947&id=36475-17809870-bzRvqxx&t=14

the AFL-CIO’s General Board voted unanimously to endorse … Barack Obama

We’re rolling up our sleeves and getting to work for working families. Will you join us?Pledge to get to work for working people by supporting President Obama and other working family candidates.     This afternoon, the AFL-CIO’s General Board voted unanimously to endorse President Obama for re-election. For many reasons, we are pledging to work with President Obama throughout the elections and in a second term. The bottom line is this: As president, Barack Obama has placed his faith in America’s working men and women to lead our country to economic recovery and our full potential. So we’re putting our faith in him. Please join us in pledging to get to work for working people by supporting President Obama and other working family candidates. Although the labor movement has sometimes differed with the president and often pushed his administration to do more—and do it faster—we have never doubted his commitment to a strong future for working families. With our endorsement today, we affirm our faith in the president. We pledge to work with him through the election and his second term to restore fairness, security and shared prosperity. Brothers and sisters, the coming election is a choice about values. President Obama honors the values of hard work, mutual respect and of solving problems together—not every person for himself or herself. Each of the Republican presidential candidates, on the other hand, has pledged to uphold the special privileges of Wall Street and the 1%—privileges that have produced historic economic inequality and drowned out the voices of working people in America. Please join us in pledging to get to work for working people by supporting President Obama and all working family candidates. Working people are the Davids standing up to Goliath in today’s politics. Our strength is in our numbers, our values and plain, hard work. When we come together, we are formidable. And for this election, we are coming together like never before. Thank you for all the work you do. In Solidarity, Richard L. Trumka President, AFL-CIO P.S. Here are some key reasons we support the president’s re-election: He took America from the brink of a second Great Depression by pressing Congress to pass the American Recovery and Reinvestment Act, which saved or created 3.6 million jobs.   He championed comprehensive health insurance reform, which—while far from perfect—set the nation on a path toward the health security that had eluded our country for nearly 100 years.   He insisted upon Wall Street reform—passed over the objection of almost every Republican. Now, we can finally begin to reverse decades of financial deregulation that put our entire economy at risk. For these reasons—and many more—President Obama has earned the support of working people for a second term. We hope you’ll join us today in pledging to support his re-election. You can read more about why we’re supporting the president here.

Watch: Romney endorses “personhoo​d” amendment …Patrick Gaspard, Democrats.org

Mitt Romney has taken a position that every woman in this country should know about:

When asked on Fox News whether he would have supported a “personhood” constitutional amendment, Mitt said, “Absolutely.”

“Personhood” amendments are the notorious measures now being considered in states like Mississippi, Florida, and Ohio, that would elevate a fertilized human egg to the status of a legal person. They would ban IUDs, the morning-after pill, in-vitro fertilization, and all abortions — with no exceptions for pregnancies resulting from rape or incest or in cases where the life of a woman is at stake.

In other words, a leading candidate for the GOP nomination for president is on the record in favor of a law that would classify literally all abortions — and even many forms of birth control — as murder.

To be clear: This is the most radical position any of the Republican candidates have taken on this issue, and may be the most radical position any of them have taken on any substantive issue in the race for the nomination so far.

Mitt has an uncanny ability to change course depending on the day, so we put together a video to show exactly where he stands on a woman’s right to choose — whether she’s choosing emergency contraception, or to save her own life.

Watch it, and then say you’ll be with us in holding him accountable.

Romney, who has held a variety of positions on abortion in his 17 years of running for public office, presumably understands the implications of criminalizing birth control and abortion.

If he wants to be in the national spotlight, if he thinks he deserves to be trusted with the highest political office on the planet, he has to be willing to take responsibility for his words and the consequences of the policies he claims to support.

This is so much bigger than his political calculations. It’s literally a life-or-death proposition, and it’s not limited to Mississippi, Ohio, or Florida. Personhood amendments like the one in Mississippi are a direct affront to the federal right to privacy afforded by Roe vs. Wade.

If Romney wants to take the position that abortion and birth control are equal to murder, that’s up to him. But we’ll hold him accountable for it, and not let anyone forget that he’s made the choice to go this far to the right on this issue:

http://my.democrats.org/Hold-Mitt-Accountable

I’ll report back soon,

–Patrick

Patrick Gaspard
Executive Director
Democratic National Committee

5 little-known facts about Social Security … Bankrate.com

5 little-known facts about Social Security

By Marilyn Bowden • Bankrate.com

 Most Americans watch their money go into the Social Security trust fund in the form of payroll deductions as soon as they begin working, when retirement seems a long way off. As a result, many go through their working lives without giving it much thought.

Here are a few facts everyone should know about Social Security benefits before making any decisions about retirement.

Who is entitled to retirement benefits?

Just about anybody who has worked for 10 or more years is eligible for Social Security retirement benefits.

“You need 40 quarters of employment, earning a minimum income of $1,120 per quarter,” says Brett Horowitz, principal and wealth manager at Evensky & Katz in Coral Gables, Fla.

The income requirement is so low that “it could be met with seasonal work,” says Richard W. Stumpf, principal at Financial Benefits in Wichita, Kan.

There are some exceptions. Most federal employees hired before 1984 aren’t eligible to participate, Horowitz says. Stumpf adds that pastors may choose not to pay in.

Also, railroad workers and their families generally get benefits through a separate retirement system

How are payouts calculated?

The size of your monthly check is arrived at by a series of calculations.

Your primary insurance amount, or PIA — the benefit you would get at full retirement age – determines the size of your monthly retirement check. According to the Social Security Administration’s website, the PIA is based on the Average Indexed Monthly Earnings, or AIME, as applied to an inflation-adjusted formula. The PIA is then adjusted for whether you take retirement before or after your normal retirement age — 66 for those now reaching retirement age, but gradually adjusted to age 67 for those born after 1954.

You can begin drawing reduced Social Security as early as 62. For every month you delay after reaching full retirement age, up to age 70, the monthly benefit increases.

According to a recent report of the Senate Special Committee on Aging, for someone with an AIME of $5,000 in 2009, the PIA would total $1,971.

In keeping with the original intent behind Social Security — a way to lift seniors out of poverty — lower-wage earners get a higher proportion of their earnings than higher wage earners. The maximum monthly benefit that can be received in 2010 is $2,346.

What are spousal benefits and widow benefits?

If one partner in a marriage earns significantly less than the other, the lower-earning spouse can collect spousal benefits rather than payouts based on his or her own earnings history.

“The spouse can get the greater of their own or 50 percent of the other spouse’s PIA,” Horowitz says. “The lower-earning spouse is not eligible until the higher earner starts getting benefits, but both can start as early as 62.”

Stumpf says this option can be a financial planning tool.

“Imagine a high earner whose spouse is his employee,” he says. “If they cut her pay and transfer the rest to him, when she reaches retirement age, one-half of his income will be significantly higher than what she earned.”

A divorced spouse who was married for more than 10 years and has not remarried can draw against the ex-spouse’s work history. Widows and widowers can receive the higher of their own or their spouse’s monthly payment, but not both.

“That’s why it’s important for the higher earner to delay taking benefits for as long as possible,” says Horowitz.

How broke is Social Security?

 

According to many studies, the Social Security trust fund will be able to cover its retirement and disability obligations for the next 30 years or so, after which there will be a shortfall of about 22 percent. The Senate Special Committee on Aging figures funds will fall short in 2037.

Stumpf thinks those estimates are optimistic.

“The Social Security trustees assume an annual 2.8 percent inflation rate,” he says. “Historic norms are in excess of 3 percent. That’s a big difference when you’re talking about trillions of dollars.

“We could make small adjustments now and bring it to fully fundable status; if we delay, it will be more painful. In 10 years the shortfall will be significantly bigger; in 20 years it will be through the roof.”

Where do payroll deductions for Social Security go?

In theory, they’re held in trust by the government. But it’s not as if your money sits there in the Social Security trust fund waiting for you to retire. After current beneficiaries are paid, surplus dollars are used to buy bonds from the U.S. Treasury. So the trust has the bonds, but the money is now in the Treasury, where Congress can use it for any purpose.

“The Social Security trust fund is … a piggybank holding paper IOUs from Congress,” Stumpf says.

This is the first year that Social Security has had to cash in one of those bonds in order to meet its payroll, says Stumpf.

“From this point forward, an increasing number of those bonds will have to be pulled out every year — and Congress is going to have to find a way to come up with all that money,” he says.

Retirement resources

For most people, Social Security is one component of retirement income — one leg of the so-called three-legged stool.

Pensions are another component, but these days few workers get a pension. The last leg would be personal savings, whether in a 401(k) plan, IRA, an investment account or savings account.

Read Bankrate’s Retirement Guide to learn basics about how to construct a retirement plan.

CBO Releases Updated Estimates for the Insurance Coverage Provisions of the Affordable Care Act

In preparing the March 2012 baseline budget projections, CBO and the staff of the Joint Committee on Taxation (JCT) have updated estimates of the budgetary effects of the health insurance coverage provisions of the Affordable Care Act(ACA)—the health care legislation enacted in March 2010. Those provisions:

• Establish a mandate for most legal residents of the United States to obtain health insurance;
• Create insurance “exchanges” through which certain individuals and families may receive federal subsidies to substantially reduce the cost of purchasing health insurance;
• Significantly expand eligibility for Medicaid;
• Impose an excise tax on certain health insurance plans with relatively high premiums;
• Establish penalties on certain employers who do not provide minimum health benefits to their employees; and
• Make other changes to prior law.

The most recent previous estimate of those effects was prepared in March 2011. For more details on the insurance coverage provisions of the ACA, you can see CBO’s cost estimate for the health care legislation, which was issued in March 2010.

The Estimated Net Cost of the Insurance Coverage Provisions Is Smaller Than Estimated in March 2011

CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012-2021 period-about $50 billion less than the agencies’ March 2011 estimate for that 10-year period. (For comparison with previous estimates, these numbers cover the 2012-2021 period; estimates including 2022 can be found below.)

The net costs–specifically the combined effects on federal revenues and mandatory spending–reflect:

• Gross additional costs of $1.5 trillion for Medicaid, the Children’s Health Insurance Program (CHIP), tax credits and other subsidies for the purchase of health insurance through the newly established exchanges and related costs, and tax credits for small employers,
• Offset in part by about $0.4 trillion in receipts from penalty payments, the new excise tax on high-premium insurance plans, and other budgetary effects (mostly increases in tax revenues).

Those amounts do not encompass all of the budgetary impacts of the ACA. They do not include federal administrative costs, which will be subject to future appropriation action. Also, they do not include the effects of the many other provisions of the law, including some that will cause significant reductions in Medicare spending relative to that under prior law and others that will generate added tax revenues relative those under prior law.

CBO and JCT have previously estimated that the ACA will, on net, reduce budget deficits over the 2012-2021 period; that estimate of the overall budgetary impact of the ACA has not been updated.

Gross Costs Are Higher, but Offsetting Budgetary Effects Are Also Higher

The current estimate of the gross costs of the coverage provisions—$1,496 billion through 2021—is about $50 billion higher than last year’s projection; however, the other budgetary effects of those provisions, which partially offset those gross costs, also have increased in CBO’s and JCT’s estimates—to $413 billion—leading to the small decrease in the net 10-year tally.

Over the 10-year period from 2012 through 2021, enactment of the coverage provisions of the ACA was projected last March to increase federal deficits by $1,131 billion, whereas the March 2012 estimate indicates that those provisions will increase deficits by $1,083 billion.

The net cost was boosted by:

• An additional $168 billion in estimated costs for Medicaid and CHIP, and
• $8 billion less in estimated revenues from the excise tax on certain high-premium health insurance plans.

But those increases were more than offset by a reduction of:

• $97 billion in the projected costs for the tax credits and other subsidies for health insurance provided through the exchanges and related spending
• $20 billion in the projected costs for tax credits for small employers, and
• $107 billion in deficits from the projected revenue effects of changes in taxable compensation and penalty payments and from other small changes in estimated spending.

The Revisions in Estimates Reflect Legislative, Economic, and Technical Changes

The major sources for the differences between the March 2011 and March 2012 projections are the following:

• New Legislation. Several laws were enacted during the past year that changed the estimated budgetary effects of the insurance coverage provisions of the ACA.
• Changes in the Economic Outlook. The March 2012 baseline incorporates CBO’s macroeconomic forecast published in January 2012, which reflects a slower recovery when compared with the forecast published in January 2011 (which was used in producing the March 2011 baseline).
• Technical Changes. The March 2012 baseline incorporates updated projections of the growth in private health insurance premiums, reflecting slower growth than the previous projections. In addition, CBO and JCT made a number of other technical changes in their estimating procedures.

The Number of the Nonelderly Uninsured Is Higher Than Previously Estimated

CBO and JCT’s projections of health insurance coverage have changed since last March. Fewer people are now expected to obtain health insurance coverage from their employer or in insurance exchanges; more are now expected to obtain coverage from Medicaid or CHIP or from nongroup or other sources. More are expected to be uninsured. The extent of the change in insurance coverage varies from year to year.

Compared with prior law, the ACA is now estimated by CBO and JCT to reduce the number of nonelderly people without health insurance coverage by 30 million to 33 million in 2016 and subsequent years, leaving 26 million to 27 million nonelderly residents uninsured in those years (see Table 3 at the end of the report). The share of legal nonelderly residents with insurance is projected to rise from 82 percent in 2012 to 93 percent in 2016 and subsequent years. That share rose to 95 percent in CBO and JCT’s previous estimate.

According to the current estimates, from 2016 on, between 20 million and 23 million people will receive coverage through the new insurance exchanges, and 16 million to 17 million additional people will be enrolled in Medicaid and CHIP as a result of ACA. Also, 3 million to 5 million fewer people will have coverage through an employer compared with the number under prior law

Estimates Through Fiscal Year 2022

This report also presents estimates through fiscal year 2022, because the baseline projection period now extends through that additional year. The ACA’s provisions related to insurance coverage are now projected to have a net cost of $1,252 billion over the 2012-2022 period; that amount represents a gross cost to the federal government of $1,762 billion, offset in part by $510 billion in receipts and other budgetary effects (primarily revenues from penalties and other sources).

The addition of 2022 to the projection period has the effect of increasing the costs of the coverage provisions of the ACA relative to those projected in March 2011 for the 2012-2021 period because that change adds a year in which the expansion of eligibility for Medicaid and subsidies for health insurance purchased through the exchanges will be in effect. CBO and JCT have not estimated the budgetary effects in 2022 of the other provisions of the ACA; over the 2012-2021 period, those other provisions were previously estimated to reduce budget deficits.

Tell Republicans STOP Waging War On Women

 

May_30_Health_Care_Rally_NP (312) (Photo credit: seiuhealthcare775nw)

Tell Republicans to STOP Waging War on Women  Target: Willard Mitt Romney

  In an interview done a few days ago, Willard Mitt Romney ever so casually stated, “Planned Parenthood, we’re going to get rid of that”. This latest comment was not a gaffe but a clear indiecation that winning by any means necessary along with his threats to kill the Affordable health care Act, which btw is already helping millions of middle and lower class families also shows just how out of touch Mr. Romney is. It proves that there is a conservative movement waging War on Women with a mission to take away the rights of women to decide what health care we want need or can access.This is a call to Stand up and Fight back against this unseemly attempt to destroy and dismantle the Affordable health care Act while rolling

Image via Wikipedia

back the contraceptive clock which is headed toward a complete ban on abortion and possibly repealing Roe V Wade.

 We are all Freedom Fighters on some level every day.

  For more than 90 years, Planned Parenthood has worked to improve women’s health and safety. They have made it possible for nearly 170,000 women to obtain low-cost clinical breast exams while providing more health services than any organization in the country such as mammogram referrals, all supported by grants. The attacks by Republicans on women, our health care and insurance rights have been growing and now include Presidential candidates. It is important to know that Mitt Romney was pro-choice and a supporter of Planned Parenthood only a few years ago. Now, he is so desperate to win that he not only moved to the extreme right of politics, flip-flops on financial issues and is willing to abandoned women as well. The fact is over 65% say they do not want anyone defunding Planned Parenthood but the message has fallen on deaf ears.  

 Women’s health care should NOT be a political football

 Women and Men who support protecting the right to choose ask Republican Presidential Candidates like Willard Mitt Romney to put Women’s health care or access to safe affordable health care ahead of politically driven, conservative religious, anti-abortion groups to aid or fund tax breaks for the wealthy.

leave Mitt a message – thanks for taking action

Congress: the Republican led House the Senate considers HR3606,Capitol Formation/IPO bill and Judicial nominees

the Senate Convened at 9:30amET March 15, 2012

• Following any Leader remarks, the Senate will be in morning business until 11:00am with Senators permitted to speak therein for up to 10 minutes each, with the time equally divided and controlled between the two Leaders or their designees with the Majority controlling the first half hour and the Republicans controlling the second half hour.
• Following morning business, the Senate will proceed to the consideration of H.R.3606, the Capital Formation bill.
• At 1:45pm, the Senate will proceed to Executive Session to consider the following nominations with 15 minutes of debate equally divided and controlled between Senators Leahy and Grassley or their designees:

• Cal. #408, Gina Marie Groh, of West Virginia, to be US District Judge for the Northern District of West Virginia
• Cal. #461, Michael Walter Fitzgerald, of California, to be United States District Judge for the Central District of California
• Upon the use or yielding back of time (approximately 2:00pm), there will be 2 roll call votes on confirmation of the nominations in the order listed above.

At 1:45pm today, the Senate will proceed to Executive Session to consider the following nominations with 15 minutes of debate equally divided and controlled between Senators Leahy and Grassley or their designees:

- Cal. #408, Gina Marie Groh, of West Virginia, to be US District Judge for the Northern District of West Virginia

- Cal. #461, Michael Walter Fitzgerald, of California, to be United States District Judge for the Central District of California

Upon the use or yielding back of time (approximately 2:00pm), there will be 2 roll call votes on confirmation of the nominations in the order listed above.

The following amendments are pending to H.R.3606, the Capital Formation/IPO bill:

• Reed-Landrieu-Levin-Brown(OH) amendment #1833 (substitute)
• Reid amendment #1834 (date change)
• Reid amendment #1835 (date change) to amendment #1834
• Cantwell-Johnson-Graham-Shelby, et al, amendment #1836 (Ex-Im Bank)
• Motion to commit H.R.3606 with instructions (date change)
• Reid amendment #1839 to the instructions (date change)
• Reid amendment #1840 to amendment #1839 (date change)

2:02 pm The Senate began a roll call vote on confirmation of the nomination of Gina Marie Groh, of WV, to be United States District Judge for the Northern District of West Virginia; Confirmed: 95-2

2:23pm The Senate began a roll call vote on confirmation of the nomination of Michael Walter Fitzgerald, of CA, to be US District Judge for the Central District of California; Confirmed: 91-6

There will be no further roll call votes this week.

Senators should expect the next roll call vote on Tuesday, March 20^th prior to the weekly caucus meetings.

TODAY’S ROLL CALL VOTES

1) Confirmation of the nomination of Gina Marie Groh, of WV, to be United States District Judge for the Northern District of West Virginia; Confirmed: 95-2

2) Confirmation of the nomination of Michael Walter Fitzgerald, of CA, to be US District Judge for the Central District of California; Confirmed: 91-6

LEGISLATIVE ITEMS

Discharged the Agriculture Committee and passed H.R.473, the Help to Access Land for the Education (HALE) of Scouts Act.

Discharged the Banking Committee and passed H.R.886, the United States Marshals Service 225^th Anniversary Commemorative Coin Act with a Boozman-Pryor amendment.

Adopted S.Res.398, Recognizing the 191^st anniversary of the independence of Greece and celebrating Greek and American Democracy.

Completed the Rule 14 process of S.2191, to amend the Americans with Disabilities Act of 1990 to prohibit the Attorney General from administering or enforcing certain accessibility reglations relation to pools at public accommodations or provided by public entities (DeMint).

The filing deadline for all first degree amendments to the Reed-Landrieu-Levin-Brown (OH), et al, substitute amendment #1833 and H.R.3630 is 4:00pm on Monday, March 19^th.

If your Senator has a germane first degree amendment and would like to preserve his or her right to offer, please send a signed copy of the amendment to the cloakroom prior to the deadline. If you have already filed, there is no need to re-file.

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 The next in the House  meeting is scheduled for 10:00 a.m. on March 16, 2012.