Daily Archives: May 13, 2010

Federal Budget Deficit Skyrockets out of Control to $83.63 Billion Dollars

Well folks President Obama and the Democrats spending spree has caused the federal budget deficit to climb up to $83.64 billion 4 times what economist says would the amount. Reuters:

It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.

Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.

This is the 19th straight month of deficit increases:

The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.

For the first seven months of fiscal 2010, which ends September 30, the cumulative budget deficit totals $799.68 billion, down slightly from $802.3 billion in the comparable period of fiscal 2009.

Outlays during April rose to $327.96 billion from $218.75 billion in March and were up from $287.11 billion in April 2009. It was a record level of outlays for an April.

Revenue to the federal treasury was up for April  vs March but less that April 2009:

Receipts in April — mostly from income taxes — were $245.27 billion, up from $153.36 billion in March but lower than the $266.21 billion taken in during April 2009.

Receipts from individuals, who faced an April 15 filing deadline for paying 2009 taxes, fell to $107.31 billion from $137.67 billion in April 2009.

Reuters

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LA Votes to Boycott Arizona 13 to 1

Los Angeles voted on Wednesday to boycott Arizona by 13 to 1.  The measure by City Councilman Ed Reyes and City councilwoman  Janice Hahn. The protest will stop the city from doing business with the state of  Arizona. This has the potential to shut off $8 million  in business to the Grand Canyon State. CBS 2 News-LA:

Los Angeles on Wednesday became the largest city yet to boycott Arizona over its tough new law targeting illegal immigration in a move that likely will affect some $8 million in contracts with the state.

The City Council voted 13-1 to bar Los Angeles from conducting business with Arizona unless the law repealed. The vote followed an emotional council discussion during which many members noted that their ancestors were U.S. immigrants.

“Los Angeles is the second-largest city in this country. An immigrant city, an international city needs to have its voice heard,” Councilman Ed Reyes said.

Mayor Antonio Villaragosa gives his blessing:

Mayor Antonio Villaraigosa already has said he would approve the boycott.

The bill revised to discuss concerns about racial profiling but critics disagree:

Although Arizona’s law has been modified to forbid police from using race to stop people, opponents say racial profiling is inevitable, CBS 2/KCAL 9’s Mark Coogan reported.

“We must say stop… this is a law that we think is wrong. It’s going in the wrong direction,” Councilwoman Janice Hahn said.

The bill could affect investments and project with the city:

The proposal could affect investments and contracts worth as much as $52 million, including contracts for airport, harbor and trucking services, according to a report from the city’s chief legislative analyst. That report recommends the council consider suspending travel, cutting contracts and refraining from making any new ones with Arizona-based companies.

Hahn, who co-authored the resolution, said it would be impractical to cancel most of those deals and only about $7 million to $8 million in city contracts probably would be affected.

“US Airways is based in Arizona and they certainly fly in and out (of Los Angeles)” and it would hardly be feasible to end those flights, Hahn said before the council vote.

The city DWP won’t be affect but other services will be:

Hahn said the Los Angeles boycott also won’t affect the city’s Department of Water and Power, which has wind farm and nuclear energy contracts in Arizona. Among the contracts with Arizona companies that conceivably could be terminated include those for helicopter services, Taser guns, waste management, engineering and surveillance equipment.

Hahn said “the best scenario” would be to turn around and give those contracts to California suppliers.

LA joins cities, agencies and civil rights organizations in boycotting Arizona:

Several cities across the country have passed resolutions or urged boycotts to protest the law, including California cities such as Oakland and San Diego. A nonbinding resolution approved Tuesday by San Francisco city supervisors urges a boycott of Arizona-based businesses and asks sports leagues not to hold championship games or tournaments there.

The bill says law enforcement must have a reasonable suspicion to question a person and check on citizenship status:

The resolution claims that Arizona’s new law encourages racial profiling and is unconstitutional. The law, set to take effect July 29, requires police enforcing another law to question a person about his or her immigration status if there is “reasonable suspicion” that the person is in the United States illegally and makes it a state crime to be in the country illegally. Several lawsuits seeking to block its implementation are pending in U.S. District Court in Phoenix.

Arizona Governor Jan Brewer says the decision by the LA city council is wrong:

Arizona Gov. Jan Brewer said the boycotts are unfortunate and misguided, primarily because the law mirrors a federal requirement that legal immigrants carry immigration papers.

“It’s already the law in the United States, and I have a responsibility to stand up and protect the people of Arizona and we will do that,” Brewer said Tuesday.

Charges that the law will lead to racial profiling are “just pure rhetoric,” Brewer said.

“I find it really interesting that we have people out there that are attempting a boycott in favor of illegal actions in Arizona. That to me is just unbelievable.”

KCBS-TV/HD-KCAL-TV/HD “CBS 2 NEWS / KCAL 9 NEWS” has the rest of the story.