East Newton County Community Tree Lighting
| When: | November 27, 2011 05:30 PM to 07:00 PM |
| Description: | 5:30 p.m.; Mt. Pleasant UMC lawn, U.S. Highway 278 and County Road 229; welcome in sanctuary, tree lighting, refreshments in fellowship hall. |
Source: http://community.covnews.com/events/detail/17018/
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CAIRO ? Attackers set off explosives early Monday along a gas pipeline in Egypt's Sinai Peninsula that transports fuel to neighboring Israel and Jordan, forcing a shutdown and halting exports, the state news agency MENA reported.
The attack on the pipeline was the second this month and the eighth since the popular uprising that ousted longtime Egyptian leader Hosni Mubarak in February.
Abdel-Wahab Mabrouk, the governor of North Sinai province, told MENA that the assailants placed explosives near the town of el-Arish in three separate places along the line that transports natural gas. Two blasts caused huge fires but the third charge did not explode, he said.
According to the report, the main valves at the terminal were immediately turned off and the fire was brought under control, but exports to Jordan and Israel were halted as was the flow of gas to homes and industries in the area.
The news agency carried the account of unidentified Egyptian pipeline guard who said eight masked gunmen arrived in two SUVs, put a gun to his head and forced him to sit by and watch as they placed their explosives. They left about 20 minutes later, releasing the guard, MENA said.
As the blasts went off, the guard ran to inform the police. He was not hurt and there were no other damages since the pipeline runs through a desert area about 6 miles (10 kilometers) off the main road.
Monday's blast came as Egyptians began voting in their nation's first parliamentary elections since Mubarak's ouster, a giant step toward what many in the country hope will be a transition to democracy after decades of dictatorship.
Previous bombings of the pipeline have been blamed on al-Qaida-inspired militants who have stepped up activity in the Sinai, taking advantage of a security vacuum caused by scant police forces in the post-Mubarak era.
Two weeks ago, Egyptian security forces launched a campaign against the militants and arrested the leader of the group who was thought to be the mastermind of the pipeline explosions.
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When someone you haven't seen in a while asks you "What's up?" or "How are you?", you probably give them a high-level summary of the major life events from the months since you last spoke. When you speak to someone you see frequently, you probably respond to the same questions with close-up,?specific descriptions of your activities over past few days. Humans are aware of when and what we last communicated with someone, and we dynamically alter what information we provide to avoid repetition. While most of the discussion about Facebook's latest changes has centered around the real-time Ticker, the switch to a news feed that displays different content depending on when you last visited will also profoundly change how we use the social network. Eventually, I think the "return visit-aware" concept will also change how we consume content across the web.Source: http://feedproxy.google.com/~r/Techcrunch/~3/1tVNuS6EfsU/
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Source: http://www.chemspy.com/blocking-cancers-path.html
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CONCORD, N.H. ? Whether they like it or not, Republican presidential candidates are joining New Hampshire's intensifying gay marriage debate.
State lawmakers plan in the coming weeks to take up a measure to repeal the law allowing same-sex couples to wed and a vote is expected at some point in January ? the same month as New Hampshire holds the nation's first Republican presidential primary contest.
Already, candidates have been put on the spot over the divisive hot-button social issue when most, if not all, would rather be talking about the economy, voters' No. 1 concern.
The impending focus on gay marriage carries risk for several of White House contenders ? including former Massachusetts Gov. Mitt Romney, Texas Gov. Rick Perry and former businessman Herman Cain ? whose inconsistencies on the topic are well documented. The GOP candidates' increasingly vocal support for "traditional marriage" also threatens to alienate a growing number of younger Republicans and independents here who support legal recognition of same-sex couples. That note of divisiveness could bode poorly for the eventual GOP nominee come the general election.
Even so, the Republican candidates aren't shying away from the topic as they run for the nomination of a GOP dominated by conservatives and pushed further to the right by the tea party over the last few years.
"As conservatives, we believe in the sanctity of life, we believe in the sanctity of traditional marriage, and I applaud those legislators in New Hampshire who are working to defend marriage between one man and one woman realizing that children need to be raised in a loving home by a mother and a father," Perry told a New Hampshire audience recently, becoming the latest contender to address gay marriage directly.
While the issue hasn't yet become a regular talking point on the campaign trail, most Republican candidates declare support for the effort to repeal the law. And groups like the National Organization for Marriage hope to force the presidential contenders to publicly embrace the repeal.
"We will be using all the tools at our disposal to lobby the New Hampshire legislature and the broader population," said Christopher Plante, regional director for the National Organization for Marriage. "One of those tools is the echo chamber of presidential candidates continuing to show their support of marriage as defined by one man and one woman."
Plante concedes that for some candidates, "there has been an evolution on a number of fronts" on this issue.
Romney was the Massachusetts governor when his state legalized gay marriage. The Romney administration, as directed by the courts, granted nearly 200 same-sex marriage requests for gay and lesbian couples in 2005.
Campaign spokesman Ryan Williams said the former governor had little choice but to follow the state Supreme Court ruling at the time. He noted his candidate's consistent opposition to both civil unions and gay marriages, adding that Romney openly supports the New Hampshire repeal effort.
But Romney has reversed himself on whether gay marriage should be addressed at the state or federal level.
This past June, he said during a debate that he favors a federal constitutional amendment banning the practice. That's been his position at least since the beginning of his 2008 presidential bid, when he was the only major Republican candidate to support such an amendment.
But as a Massachusetts Senate candidate back in 1994, Romney told a Boston-area gay newspaper that same-sex marriage is "a state issue as you know ? the authorization of marriage on a same-sex basis falls under state jurisdiction." Aides say it's unfair to scrutinize Romney's position in 1994 ? when there was virtually no discussion of a federal amendment. And they suggest Romney's rivals have far more blatant inconsistencies in recent months.
Both Perry and Cain have drawn conservative criticism for recent comments related to gay marriage.
Asked in mid-October whether he supports a federal marriage amendment, Cain told the Christian Broadcasting Network that federal legislation is necessary to protect traditional marriage. That seemed to be a direct contradiction from his statement of just six days earlier, when he told "Meet the Press" host David Gregory that states should be allowed to make up their own minds.
"I wouldn't seek a constitutional ban for same sex marriage, but I am pro traditional marriage," Cain told Gregory.
In Perry's case, the Texas governor says he supports the New Hampshire repeal. But in July he said that New York's move to legalize gay marriage was "fine by me." A week later, facing social conservative criticism, he walked back the comments.
"It's fine with me that the state is using their sovereign right to decide an issue. Obviously gay marriage is not fine with me," he said then.
Former House Speaker Newt Gingrich has another problem.
Earlier in the fall, he told an Iowa audience that gay marriage is a "temporary aberration" likely to go away because it defies convention. Gingrich, who has been married three times, has a half-sister in a same-sex marriage.
"The truth is that you're living in a world that no longer exists," Candace Gingrich-Jones wrote the former speaker in a letter posted on the Huffington Post in 2008: "In other words, stop being a hater, big bro."
Despite the presidential candidates' support for the New Hampshire repeal, younger Republicans in this state are skeptical, especially as voters are focused on the economy.
"Why is the NH House wasting time trying to repeal gay marriage? Capital ugh," Robert J. Johnson, chairman of the New Hampshire College Republicans, wrote on Twitter.
Polling suggests it may not be a winning issue.
A recent University of New Hampshire poll found that 62 percent of state residents oppose repealing the same-sex marriage law. And nationally, public opinion has gradually shifted toward supporting same-sex marriages, even among Republicans.
An August Associated Press-National Constitution Center poll found that 53 percent of Americans favor legal recognition of same-sex marriages; 32 percent of Republicans say same-sex couples should get some legal recognition from the government, compared with 71 percent among Democrats and 50 percent of independents.
Democrats hope to use the Republican contenders' positions against them in the general election next fall.
"While these radical stances might win them a few votes in their primary, it will lose them the support of the majority Americans, and ultimately put them on the losing side of history," said Ty Matsdorf, spokesman for American Bridge, an independent group aligned with Democrats.
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NEW DELHI (Reuters) ? India threw open its $450 billion retail market to global supermarket giants on Thursday, approving its biggest reform in years that may boost sorely needed investment in Asia's third-largest economy.
The world's largest retail group, Wal-Mart Stores Inc (WMT.N), and its rivals see India's retail sector as one of the last frontier markets, where a burgeoning middle-class still shops at local, family-owned merchants.
Allowing foreign retailers to take stakes of up to 51 percent in supermarkets would attract much-needed capital from abroad and ultimately help unclog supply bottlenecks that have kept inflation stubbornly close to a double-digit clip.
"I think it will have a very deep and long-lasting impact on the Indian landscape," Raj Jain, CEO of Wal-Mart India, told CNBC TV18. "I think it will redefine the way consumers shop in India, but more importantly the way supply chains in India run."
Under fire for a slow pace of reform, Prime Minister Manmohan Singh's embattled government appears to be slowly shaking off a string of corruption scandals to focus on policy changes long desired by investors.
"This is a very bold move and the economic reforms process is back on track." Rajan Mittal, vice chairman of India's Bharti Enterprises, which is Wal-Mart's partner, told reporters.
Millions of small retail traders vigorously oppose competing with foreign giants, potentially providing a lightning rod for criticism of the ruling Congress party ahead of crucial state elections next year.
Food Minister K.V. Thomas said the government will allow foreign direct investment of up to 51 percent in multi-brand retail - as supermarkets are known in India. It will also raise the cap on foreign investment in single-brand retailing to 100 percent from 51 percent, he added.
The new rules may commit supermarkets to strict local sourcing requirements and minimum investment levels aimed at protecting jobs, according to local media.
A heavyweight member of Singh's coalition government warned on Thursday it totally opposed opening the sector.
The move is politically risky. Fears of potential job losses could heighten popular anger at the Congress party ahead of key state polls next year that will set the stage for the 2014 general election.
But slowing growth and investment in India, with the rupee currency around historical lows and government finances worsening, may have spurred the government into action.
"Manmohan Singh, after all the scams and the impression of government paralysis, has realized it's time to take some bold steps. This is a very bold step that will please the middle class," said political analyst Amulya Ganguli.
POLITICAL OPPOSITION
India previously allowed 51 percent foreign investment in single-brand retailers and 100 percent for wholesale operations, a policy Wal-Mart and rival Carrefour, among others, had long lobbied to free up further.
"For international retailers, it will open up a $1.6 trillion market growing at 8-9 percent so it's a big business opportunity for all of them," said Thomas Varghese, CEO of Aditya Birla Retail, an Indian supermarket chain.
Indian retailers have operated supermarket chains in India for years, but their expansion has been hampered by a lack of funding and expertise as well as poor infrastructure which makes the cold storage of food transported around the country practically impossible.
Political opponents of the proposal, with an eye to the ballot box, argue an influx of foreign players - which could include Carrefour (CARR.PA) and Tesco Plc (TSCO.L) - will throw millions of small traders out of work in a sector that is the largest source of employment in India after agriculture.
India's biggest listed company, Reliance Industries (RELI.NS), was forced to backtrack on plans in 2007 to open Western-style supermarkets in the state of Uttar Pradesh after huge protests from small traders and political parties.
The main opposition Bharatiya Janata Party (BJP) opposes opening up the retail sector, arguing that letting in "foreign players with deep pockets" would bring job losses in both the manufacturing and service sectors.
"Fragmented markets give larger options to the consumers. Consolidated markets make the consumer captive," the BJP's leaders of the upper and lower houses of parliament said in a statement before the decision. "International retail does not create additional markets, it merely displaces (the) existing market."
(Additional reporting by Nigam Prusty and Krittivas Mukherjee; Editing by John Chalmers)
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Thousands of Egyptians perform Friday prayers during a rally in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" are rapidly filling up Cairo's Tahrir Square in what promises to be a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bernat Armangue)
Thousands of Egyptians perform Friday prayers during a rally in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" are rapidly filling up Cairo's Tahrir Square in what promises to be a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bernat Armangue)
Pro-reform leader and Nobel peace laureate Mohamed El-Baradei, center, is surrounded by protesters during his arrival for Friday prayers in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" are rapidly filling up Cairo's Tahrir Square in what promises to be a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bela Szandelszky)
An injured Egyptian attends a protest in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" are rapidly filling up Cairo's Tahrir Square in what promises to be a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bela Szandelszky)
Thousands of Egyptians perform Friday prayers during a rally in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" are rapidly filling up Cairo's Tahrir Square in what promises to be a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bernat Armangue)
CAIRO (AP) ? Egypt's military rulers picked a prime minister from ousted leader Hosni Mubarak's era to head the next government, according to state television, a choice that will almost certainly intensify criticism by tens of thousands of protesters accusing the generals of trying to extend the old guard and demanding they step down immediately.
Kamal el-Ganzouri, 78, served as prime minister between 1996 and 1999 and was deputy prime minister and planning minister before that. He also was a provincial governor under the late President Anwar Sadat.
"Illegitimate, illegitimate!" chanted the crowds at Cairo's central Tahrir Square on hearing news of el-Ganzouri's appointment.
"Not only was he prime minister under Mubarak, but also part of the old regime for a total of 18 years," said protester Mohammed el-Fayoumi, 29. "Why did we have a revolution then?"
The announcement followed a meeting late Thursday between el-Ganzouri and senior military ruler Field Marshal Hussein Tantawi. Tantawi was Mubarak's defense minister of 20 years and served in the government headed by el-Ganzouri.
El-Ganzouri will replace Essam Sharaf, who resigned this week after nearly nine months in office amid deadly clashes between police and protesters calling for the military to immediately step down.
Sharaf was criticized for being weak and beholden to the generals. The television announcement said el-Ganzouri will enjoy "authority," but did not elaborate.
El-Ganzouri's appointment was likely to deepen the anger of the protesters, already seething over the military's perceived reluctance to dismantle the legacy of Mubarak's 29-year rule.
Protesters chanting, "Leave, leave!" filled up Cairo's Tahrir Square on Friday for what has been dubbed by organizers as "The Last Chance Million-Man Protest" aimed at forcing the military council to yield power.
Pro-reform leader and Nobel peace laureate Mohamed ElBaradei was mobbed by hundreds of supporters as he arrived in the square and took part in Friday prayers, leaving shortly afterward.
"He is here to support the revolutionaries," said protester Ahmed Awad, 35. "He came to see for himself the tragedy caused by the military."
Swelling crowds of demonstrators chanted, "The people want to bring down the marshal", in reference to Tantawi, who took over the reins of power from Mubarak.
The rally comes one day after the military offered an apology for the killing of nearly 40 protesters in five days of deadly clashes, mostly centered around Tahrir Square. This was the longest spate of uninterrupted violence since the 18-day uprising that toppled Mubarak on Feb. 11. The streets were relatively calm on Friday as a truce negotiated Thursday in Cairo continued to hold.
The military also has said that parliamentary elections due to start Monday will go ahead on schedule despite the unrest in Cairo and a string of other cities to the north and south of the capital.
Protesters in Cairo's Tahrir Square ? angry at the military for failing to stabilize the country, salvage the economy or bring democracy ? say they will not leave the sprawling plaza until the generals step down in favor of a civilian presidential council. Their show of resolve resembles that of the rallies which forced Mubarak to give up power.
The military has rejected calls to immediately step down, saying its claim to power is supported by the warm welcome given to troops who took over the streets from the discredited police early in the anti-Mubarak uprising as well as an overwhelming endorsement for constitutional amendments they proposed in a March referendum.
Tantawi has offered another referendum on whether his military council should step down immediately.
Such a vote, activists say, would divide the nation and likely open the door for a deal between the military and political groups, particularly the Muslim Brotherhood. Egypt's largest and best organized group, the Brotherhood is notorious for its opportunism and thirst for power. It was empowered after the fall of Mubarak, regaining legitimacy after spending nearly 60 years as an outlawed group.
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Please look at this video and tell me it is not magic. Displair, a Russian company from Astrakhan has come up with a technology to project images into the thin air, and use gestures to move them.Source: http://feedproxy.google.com/~r/Techcrunch/~3/93deuyFkA0M/
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(Reuters) ? India will open the country's retail industry to foreign supermarkets, a much delayed reform expected to help unclog supply bottlenecks and ease inflation over time.
The government has allowed 51 percent foreign direct investment in the multi-brand retail sector. It also decided to raise the cap on foreign investment in single-brand retailing to 100 percent from 51 percent.
The decision will be cheered by global retail giants such as Wal-Mart (WMT.N) that have long been eyeing India's lucrative retail sector worth an estimated $450 billion a year.
India until now allowed 51 percent foreign investment in single-brand retail and 100 percent in wholesale operations.
COMMENTARY:
THOMAS VARGHESE, CEO, ADITYA BIRLA RETAIL, MUMBAI:
"For all domestic retailers in the country, this will make available capital apart from domain knowledge. For international retailers, it will open up a $1.6 trillion market growing at 8-9 percent so it's a big business opportunity for all of them as growth has slowed down for all of them.
"From the farmers' point of view this will help to improve realizations and expand yields through contract farming. We as a company haven't been in active discussions with any foreign investor. We will take things as they come."
ANAND MAHINDRA, VICE CHAIRMAN, MAHINDRA GROUP:
"The real fight on food price inflation begins today, FDI in multi brand retails is cleared."
RAJAN MITTAL, VICE CHAIRMAN AND MANAGING DIRECTOR BHARTI
ENTERPRISES:
"This is a very bold move and the economic reforms process is back on track."
JAY SHANKAR, CHIEF ECONOMIST, RELIGARE CAPITAL MARKETS,
MUMBAI:
"I am not a firm believer in the job loss argument about FDI in retail. I am sure the government would have put in riders safeguarding the interests of local retailers.
"I think foreign chains can also bring in humongous logistical benefits and capital. There would be stupendous benefits from this move in terms of upgrading infrastructure, cold storage and it would eliminate layers of middlemen.
"It will give good prices to farmers and make it affordable for consumers, ease out supply chain bottlenecks and reduce inflation."
N.BHANUMURTHY, ECONOMIST, NATIONAL INSTITUTE OF PUBLIC
FINANCE AND POLICY:
"There could be some short-term job losses but it's not a big issue because in the long run, the decision is expected to result in net economic gain.
"The move to open up foreign investment in the sector will help to ease out supply side constraints. It will have a substantial positive impact on inflation. It will help farmers by smoothening out the volatility in the prices of farm producers."
B MUTHURAMAN, PRESIDENT, CONFEDERATION OF INDIAN INDUSTRY:
"CII strongly supports the introduction of FDI in multi-brand retail recognizing that it would benefit the consumers, producers (farmers) and small and medium enterprises ("SMEs") and generate significant employment.
"This would open up enormous opportunities in India for expansion of organized retail and allow substantial investment in backend infrastructure like cold chains, warehousing, logistics and expansion of contract farming.
"India with a 8-9 percent growth in GDP is a consumer driven economy and modern retail has to step up to be able to meet up consumer aspiration not only in metro cities and towns but across the Indian sub-continent."
CHANDRAJIT BANERJEE, DIRECTOR GENERAL, CONFEDERATION OF
INDIAN INDUSTRY:
"The biggest beneficiary of this announcement of FDI in retail would be the small farmers who will be able to improve their productivity and realization by selling directly to large organized players and therefore dis-intermediate the current value chain.
"The farmers will not only be able to increase their output but will also get better rewards in terms of realization by supplying directly to organized players and assured market for their products by tying up long-term contracts with them.
"This move is expected to substantially benefit consumers also by making available farm produce at much lower prices. This would also lead to growth, evolution and innovation in the un-organized retail sector."
PINAKIRANJAN MISHRA, NATIONAL LEADER, RETAIL, ERNST&YOUNG,
MUMBAI:
"This move will make way for inflow of knowledge from international experts which can give boost to the overall growth of the industry. Capability building apart from financial investments is extremely important for the industry.
"We will also see investment in infrastructure from the retail players...and (this) will ensure that the farming community will have a new support group with a common interest which is expected to give a great push to productivity."
BACKGROUND
-- The retail sector in the nation of 1.2 billion people is estimated to have annual sales of $450 billion, with nearly 90 percent of the market controlled by tiny family-run shops.
-- Organized retail, or large chains, makes up less than 10 percent of the market but is expanding percent a year. This is driven by the emergence of shopping centers and malls, and a middle class of close to 300 million people that is growing at nearly 2 percent a year.
-- India currently only allows FDI in cash-and-carry, or wholesale, ventures. There are restrictions on foreign investment in retail because of opposition from millions of small shopkeepers who are valuable vote banks during elections.
(Reporting by Nandita Bose in MUMBAI, Abhijit Neogy and Matthias Williams in NEW DELHI; Editing by Aradhana Aravindan)
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LOS ANGELES (TheWrap.com) - Just when moviegoers were ready to give up on the 3D revival as a gimmick used primarily to justify higher ticket prices, master director Martin Scorsese comes along with "Hugo" to show how it should be done.
His brilliant family film employs 3D imaginatively, evocatively and judiciously, using it to add depth, both literal and metaphorical, enriching the story he is telling.
"Hugo," based on "The Invention of Hugo Cabret," a Caldecott Medal-winning, 2007 children's novel by Brian Selznick, is in many ways a love letter to the movies and film preservation, the latter a long-standing cause advocated by Scorsese.
Although it chronicles the adventures of Hugo (Asa Butterfield), an orphaned boy who lives in a Paris train station in the 1930s, the film is really about the power of movies to transform lives, allow escape and encompass our dreams.
Hugo is the son of a clock and machine repairman (Jude Law), who died, but not before imparting his love of both movies and all things mechanical to his son. Hugo now lives deep in the upper reaches of a Paris train station, where he secretly keeps its clocks running, attempts in his spare time to fix a metal, life-like looking automaton his father once rescued from a museum, and tries to avoid the clutches of the station's overzealous police inspector (Sacha Baron Cohen, in a highly amusing turn).
He is befriended by Isabelle (Chloe Grace Moretz), a bookworm who longs for the sort of mystery and adventure in real life that she encounters in the pages of books. Hugo also begins apprenticing for her guardian (Ben Kingsley), an embittered old toy seller and repairman who has a small shop in the station.
The identity of this old man and his link to Hugo's father are at the heart of the story. Like any great children's tale, there are adult secrets to be learned, a mysterious key that will literally unlock the automaton as well as the identities of and connections between various characters, and perilous adventures aplenty.
Along the way, Scorsese pays tribute to trailblazing filmmakers and performers such as Charlie Chaplin, Buster Keaton, Harold Lloyd, and, above all -- and without giving away too much -- French silent film pioneer Georges M?lies (1902's "A Trip to the Moon").
While "Hugo" works splendidly as family fare, offering an involving tale, thrills (the police inspector's fearsome dog racing straight at you via 3D) and humor, it is ardent cinephiles who will want to see the movie repeatedly as there are likely new film references, homages and allusions to be gleaned from every viewing.
Here's just one: Look for Scorsese himself in a cameo playing, appropriately, a photographer in the early 1900s who's taking a portrait of a famous filmmaker. In casting himself as both a historian and an artist, Scorsese perfectly sums up the duality of the vision that he brings to such vivid life in "Hugo."
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HOUSTON ? Texans quarterback Matt Schaub was placed on injured reserve Wednesday, ending his season, and the team signed quarterback Kellen Clemens.
Schaub hurt his right foot in Houston's win over Tampa Bay on Nov. 13. He met with several doctors, including a specialist in Charlotte, who determined he'll need season-ending surgery on the Lisfranc injury.
"We held out hope and he went down there and he met with the doctor this morning very early," coach Gary Kubiak said. "I hurt for him, because he was having a Pro Bowl season. But he will be back and he will play at a high level for a very long time."
Matt Leinart will start for Houston (7-3) at Jacksonville (3-7) on Sunday. Clemens becomes the backup and rookie T.J. Yates, a fifth-round pick, is No. 3 on the depth chart.
Looking to reach the playoffs for the first time in franchise history, the Texans have a two-game lead in the AFC South with six to play.
Clemens tried out for the Texans on Monday, along with Jeff Garcia, Trent Edwards, Brodie Croyle and Chase Clement.
Clemens had an edge because he was in training camp with Washington and coach Mike Shanahan, Kubiak's former mentor. The Redskins' offensive coordinator is Kyle Shanahan, Mike's son, who was Kubiak's offensive coordinator with the Texans from 2008-09.
"He knows our terminology," Kubiak said. "I liked his workout, to be honest, of all the guys we brought in. I think he can catch up very quickly."
Meanwhile, star receiver Andre Johnson and safety Danieal Manning were back for the team's first full practice following the bye week after both missed several games with injuries.
Johnson has been out since hurting his right hamstring in the Texans' 17-10 win over Pittsburgh on Oct. 2, an injury that required minor surgery to repair. Manning has made a quicker-than-expected recovery after breaking his left fibula in Houston's 41-7 win over Tennessee on Oct. 23.
"I expect him to play," Kubiak said of Manning. "He took a limited number of reps (Wednesday), not the full load, but I expect him to play in the game. We will have to monitor the amount he plays, but everything looks like he will be ready to go."
Schaub is the 10th Texans player to go on injured reserve this season, joining a group that includes outside linebacker Mario Williams (torn chest muscle) and linebacker Darryl Sharpton (dislocated shoulder).
Schaub's durability was questioned after he missed games in the 2007 and `08 seasons with various injuries. But the quarterback started all 16 games for Houston in 2009 and 2010.
"I'm really disappointed, especially for Matt, because he was having a great year, probably his best year," club owner Bob McNair said. "He's worked so hard with our team and been such a great leader, it's difficult for him to be on the sidelines watching his team succeed and not being out on the field."
Clemens was a second-round pick by the New York Jets in the 2006 draft and backed up Chad Pennington. Clemens started only nine games for the Jets, eight in the 2007 season when the team finished 4-12.
He was eventually demoted to No. 3 on the depth chart after Rex Ryan became the coach, and the team drafted Mark Sanchez in 2009. Clemens became a free agent after the 2010 season, signed with Washington before training camp began and was cut on Sept. 3.
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The actress and Top Chef Masters host have their first baby! Plus, see more stars who welcomed new bundles of joy
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FILE - This is a Dec. 10, 2009 file photo showing the Climatic Research Unit at the University of East Anglia in Norwich, England. East Anglia, where stolen emails caused a global climate science controversy in 2009 says those behind the breach have apparently released a second and potentially far larger batch of old messages. University of East Anglia spokesman Simon Dunford said that while academics didn't have the chance yet to examine the roughly 5,000 emails apparently dumped into the public domain Tuesday, Nov. 22, 2011 a small sample examined by the university "appears to be genuine." (AP Photo/Kirsty Wigglesworth, File)
FILE - This is a Dec. 10, 2009 file photo showing the Climatic Research Unit at the University of East Anglia in Norwich, England. East Anglia, where stolen emails caused a global climate science controversy in 2009 says those behind the breach have apparently released a second and potentially far larger batch of old messages. University of East Anglia spokesman Simon Dunford said that while academics didn't have the chance yet to examine the roughly 5,000 emails apparently dumped into the public domain Tuesday, Nov. 22, 2011 a small sample examined by the university "appears to be genuine." (AP Photo/Kirsty Wigglesworth, File)
FILE - In this photo taken in 2007 provided by Greg Rico, Penn State Professor Michael Mann is seen at Penn State University in State College, Pa. The British university whose stolen emails caused a global climate science controversy in 2009 says those behind the breach have apparently released a second and potentially far larger batch of old messages. University of East Anglia spokesman Simon Dunford said that while academics didn't have the chance yet to examine the roughly 5,000 emails apparently dumped into the public domain Tuesday, Nov. 22, 2011, a small sample examined by the university "appears to be genuine." Mann _ a prominent player in the earlier controversy whose name also appears in the latest leak _ described Tuesday's development as "a truly pathetic episode," blaming agents of the fossil fuel industry for "smear, innuendo, criminal hacking of websites, and leaking out-of-context snippets of personal emails. (AP Photo/Greg Rico, FILE) MANDATORY CREDIT
LONDON (AP) ? The British university whose stolen emails caused a global climate science controversy in 2009 says those behind the breach have apparently released a second and potentially far larger batch of old messages.
University of East Anglia spokesman Simon Dunford said that while academics didn't yet have the chance to examine all the roughly 5,000 emails apparently dumped into the public domain Tuesday, a small sample seen by the university "appears to be genuine."
The university said in a statement that the emails did not appear to be the result of a new breach. Instead, the statement said that the emails appeared to have been stolen two years ago and held back until now "to cause maximum disruption" to the imminent U.N. climate talks next week in Durban, South Africa.
If that is confirmed, the timing and nature of the leak would follow the pattern set by the so-called "Climategate" emails, which caught prominent scientists stonewalling critics and discussing ways to keep opponents' research out of peer-reviewed journals.
Those hostile to mainstream climate science claimed the exchanges proved that the threat of global warming was being hyped, and their publication helped destabilize the failed U.N. climate talks in Copenhagen, Denmark, which followed several weeks later.
Climategate also dealt a blow to the reputation of the University of East Anglia's Climatic Research Unit, which is one of the world's leading centers for the study of how world temperatures have varied over time.
Although a host of reviews have since vindicated the unit's science, some of its practices ? in particular efforts to hide data from opponents ? have come under strong criticism. The university says it is now much more open about what it does.
Excerpts quoted on climate skeptic websites appeared to show climate scientists talking in conspiratorial tones about ways to promote their agenda and freeze out those they disagree with. There are several mentions of "the cause" and discussions of ways to shield emails from freedom of information requests.
Penn State University professor Michael Mann ? a prominent player in the earlier controversy whose name also appears in the latest leak ? said on Twitter that "the cause" he was referring to was the cause of "communicating science in face of massive disinformation effort."
In an email exchange with the AP he described Tuesday's development as "a truly pathetic episode," blaming agents of the fossil fuel industry for "smear, innuendo, criminal hacking of websites, and leaking out-of-context snippets of personal emails."
He said that the real story behind the leak was "an attempt to dig out 2-year-old turkey from Thanksgiving '09. That's how desperate climate change deniers have become."
Bob Ward, with the London School of Economics' Grantham Research Institute on Climate Change, said in an email that he wasn't surprised by the leak.
"The selective presentation of old email messages is clearly designed to mislead the public and politicians about the strength of the evidence for man-made climate change," he said. "But the fact remains that there is very strong evidence that most the indisputable warming of the Earth over the past half century is due to the burning of fossil fuels and other human activities."
The source of the latest leaked emails was unclear. The perpetrator of the original hack has yet to be unmasked, although British police have said their investigation is still active.
___
Associated Press Writers Jill Lawless in London, Malcolm Ritter in New York, and Seth Borenstein in Washington contributed to this report.
___
Online:
University of East Anglia: http://www.uea.ac.uk
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Public release date: 21-Nov-2011
Share ] Contact: Sherri Richardson Dodge
srichardsondodge@fs.fed.us
503-808-2137
USDA Forest Service - Pacific Northwest Research Station
PORTLAND, Ore. November 21, 2011. Log and lumber exports from Washington, Oregon, northern California, and Alaska in the first three quarters of 2011 already surpass the total exports of 2010 according to the U.S. Forest Service's Pacific Northwest (PNW) Research Station.
"The increasing shipments to China are the main driver of the hike in log and lumber exports from the west coast," says Xiaoping Zhou, a research economist with the station. "The log exports to China in 2010 (664.2 million board feet) was over 40 times of that in 2005 (15.8 million board feet). The lumber exports to China during the same period expanded 76 percent from 98.5 million board feet in 2005 to 173.5 million board feet in 2010. And this trend continues in 2011." [Note: see table 1.]
The total log shipment value in the first 9 months of 2011 was $1,036 million compared to $844 million total in 2010. The lumber export value this year from January to September was $528 million, which surpasses the total lumber shipment value of $509 million in 2010.
Zhou compiled the statistics from the U.S. International Trade Commission and Production, Prices, Employment, and Trade in Northwest Forest Industries, a station publication that provides current information on the region's lumber and plywood production prices as well as employment in forest industries. The 2010 report is available online at http://www.treesearch.fs.fed.us/pubs/38431.
Major reasons west coast exports to China have risen include:
Other highlights from this year's third quarter (log exports):
A total of 560.1 million board feet of logs was exported (valued at $347.9 million) from Washington, Oregon, northern California, and Alaska in the third quarter of 2011 (July through September). This was 2.6 percent lower than the second quarter log exports.
About 99 percent (or 558.1 million board feet) of export logs was softwood (down from 569.2 million board feet in the second quarter of 2011).
Softwood exports increased 27 percent from the same quarter in 2010.
Over 97 percent of west coast log exports was shipped to China, Japan, and South Korea (354.9 million board feet or 62.9 percent of the third quarter 2011 log exports went to China, 123.0 million board feet or 21.8 percent went to Japan, and 72.5 million board feet or 12.9 percent went to South Korea). [Note: see pie chart a.]
About 46 percent of the logs were exported from Oregon and 31 percent from Washington. [Note: see table 2.]
Other highlights from this year's third quarter (lumber):
A total of 255.3 million board feet with a shipment value of $174.4 million was exported from Washington, Oregon, and northern California in the third quarter of 2011, representing a 6 percent decrease.
Softwood lumber exports totaled 87 percent or 221.8 million board.
Third quarter softwood lumber exports were down 4.5 percent from 232.2 million board feet in the second quarter of 2011, but are up 43 percent compared to the same quarter of 2010.
Over 81 percent of west coast lumber exports went to China, Canada, and Japan in the third quarter of 2011.
Some 115.2 million board feet or 45.1 percent of the third quarter 2011 west coast lumber exports went to China, 50.3 million board feet or 19.7 percent went to Canada, and 42.6 million board feet or 16.7 percent went to Japan [Note: see pie chart b].
About 71 percent of the lumber was exported from Washington, 22 percent from California, and 7 percent from Oregon.
###
Contact: Xiaoping Zhou, (503) 808-2017, xzhou@fs.fed.us
The PNW Research Station is headquartered in Portland, Oregon. It has 11 laboratories and centers located in Alaska, Oregon, and Washington and about 425 employees.
[ | E-mail | Share ] ?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Public release date: 21-Nov-2011 Share ] Contact: Sherri Richardson Dodge
srichardsondodge@fs.fed.us
503-808-2137
USDA Forest Service - Pacific Northwest Research Station
PORTLAND, Ore. November 21, 2011. Log and lumber exports from Washington, Oregon, northern California, and Alaska in the first three quarters of 2011 already surpass the total exports of 2010 according to the U.S. Forest Service's Pacific Northwest (PNW) Research Station.
"The increasing shipments to China are the main driver of the hike in log and lumber exports from the west coast," says Xiaoping Zhou, a research economist with the station. "The log exports to China in 2010 (664.2 million board feet) was over 40 times of that in 2005 (15.8 million board feet). The lumber exports to China during the same period expanded 76 percent from 98.5 million board feet in 2005 to 173.5 million board feet in 2010. And this trend continues in 2011." [Note: see table 1.]
The total log shipment value in the first 9 months of 2011 was $1,036 million compared to $844 million total in 2010. The lumber export value this year from January to September was $528 million, which surpasses the total lumber shipment value of $509 million in 2010.
Zhou compiled the statistics from the U.S. International Trade Commission and Production, Prices, Employment, and Trade in Northwest Forest Industries, a station publication that provides current information on the region's lumber and plywood production prices as well as employment in forest industries. The 2010 report is available online at http://www.treesearch.fs.fed.us/pubs/38431.
Major reasons west coast exports to China have risen include:
Other highlights from this year's third quarter (log exports):
A total of 560.1 million board feet of logs was exported (valued at $347.9 million) from Washington, Oregon, northern California, and Alaska in the third quarter of 2011 (July through September). This was 2.6 percent lower than the second quarter log exports.
About 99 percent (or 558.1 million board feet) of export logs was softwood (down from 569.2 million board feet in the second quarter of 2011).
Softwood exports increased 27 percent from the same quarter in 2010.
Over 97 percent of west coast log exports was shipped to China, Japan, and South Korea (354.9 million board feet or 62.9 percent of the third quarter 2011 log exports went to China, 123.0 million board feet or 21.8 percent went to Japan, and 72.5 million board feet or 12.9 percent went to South Korea). [Note: see pie chart a.]
About 46 percent of the logs were exported from Oregon and 31 percent from Washington. [Note: see table 2.]
Other highlights from this year's third quarter (lumber):
A total of 255.3 million board feet with a shipment value of $174.4 million was exported from Washington, Oregon, and northern California in the third quarter of 2011, representing a 6 percent decrease.
Softwood lumber exports totaled 87 percent or 221.8 million board.
Third quarter softwood lumber exports were down 4.5 percent from 232.2 million board feet in the second quarter of 2011, but are up 43 percent compared to the same quarter of 2010.
Over 81 percent of west coast lumber exports went to China, Canada, and Japan in the third quarter of 2011.
Some 115.2 million board feet or 45.1 percent of the third quarter 2011 west coast lumber exports went to China, 50.3 million board feet or 19.7 percent went to Canada, and 42.6 million board feet or 16.7 percent went to Japan [Note: see pie chart b].
About 71 percent of the lumber was exported from Washington, 22 percent from California, and 7 percent from Oregon.
###
Contact: Xiaoping Zhou, (503) 808-2017, xzhou@fs.fed.us
The PNW Research Station is headquartered in Portland, Oregon. It has 11 laboratories and centers located in Alaska, Oregon, and Washington and about 425 employees.
[ | E-mail | Share ] ?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Source: http://www.eurekalert.org/pub_releases/2011-11/ufs--wcl112111.php
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A team of University of Missouri researchers have found that targeting a synthetic molecule to a specific gene could help the severity of the disease Spinal Muscular Atrophy (SMA) ? the leading genetic cause of infantile death in the world.
"When we introduced synthetic RNA into mice that carry the genes responsible for SMA, the disease's severity was significantly lowered," said Chris Lorson, researcher at the Bond Life Sciences Center and professor in the Department of Veterinary Pathobiology and the Department of Molecular Microbiology and Immunology. "The mice that receive synthetic RNA gain more weight, live longer, and had improvements in motor skills. These results are very exciting."
SMA is a rare genetic disease that is inherited by one in 6,000 children, who often die young because there is no cure. Children who inherit SMA are missing a gene that produces a protein which directs nerves in the spine to give commands to muscles. Lorson's lab focuses on targeting a partially functioning back-up copy of the missing gene, known as SMN-2, into producing the needed protein.
While the results are promising, Lorson notes additional research is needed before synthetic RNA could be used on humans for SMA. Clinical trials for similar synthetic RNAs are currently being performed in other neurodegenerative disease such as Lou Gehrig's or ALS. In SMA, there are clinical trials taking place in many labs across the country that are investigating drug compounds to increase SMN-2 protein production.
"It's been remarkable to watch how quickly SMN-2 knowledge has transformed from basic molecular biology to being modified targets for novel therapeutics," Lorson said. "SMN-2 is like a light that's been dimmed, and we're trying anything to get it brighter. Even turning it up a little bit would help dramatically."
###
University of Missouri-Columbia: http://www.missouri.edu
Thanks to University of Missouri-Columbia for this article.
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Source: http://www.labspaces.net/115388/Researchers_find_synthetic_RNA_lessens_severity_of_fatal_disease_
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WASHINGTON ? Don't look for the Pentagon to shut down one side of its famous five-sided building. Don't expect the Education Department to pull back its grants just yet.
With the collapse of the deficit-cutting supercommittee, Congress' emergency backup budget-cutting plan now is supposed to take over ? automatic, across-the-board spending reductions of roughly $1 trillion from military as well as domestic government programs.
But the big federal deficit reductions that are to be triggered by Monday's supercommittee collapse wouldn't kick in until January 2013. And that allows plenty of time for lawmakers to try to rework the cuts or hope that a new post-election cast of characters ? possibly a different president ? will reverse them.
Congress' defense hawks led the charge Monday, arguing that the debt accord reached by President Barack Obama and congressional Republicans last summer already inflicted enough damage on the military budget. That agreement set in motion some $450 billion in cuts to future Pentagon accounts over the next decade.
The supercommittee's failure to produce a deficit-cutting plan of at least $1.2 trillion after two months of work is supposed to activate the further, automatic cuts, half from domestic programs, half from defense. Combined with the current reductions, the Pentagon would be looking at nearly $1 trillion in cuts to projected spending over 10 years.
Obama declared he would veto any effort to undo the automatic cuts. But there are sure to be efforts in that direction.
"Our military has already contributed nearly half a trillion to deficit reduction. Those who have given us so much have nothing more to give," said House Armed Services Committee Chairman Howard "Buck" McKeon, R-Calif., in promising to introduce legislation to prevent the cuts.
Sens. John McCain of Arizona, the top Republican on the Senate Armed Services Committee, and Lindsey Graham, R-S.C., a member of the panel, said they would "pursue all options" to avoid deeper defense cuts.
The congressional rank and file may be determined to spare defense and undo the automatic cuts, but there's hardly unanimity. Deficit-cutting tea partyers within the GOP side with liberal Democrats in signaling they're ready to allow military reductions. In addition, House Speaker John Boehner, R-Ohio, and Senate Majority Leader Harry Reid, D-Nev., said they would abide by the consequences of the deficit-fighting law ? and they control what legislation moves forward.
Freshman Sen. Rand Paul, R-Ky., a tea party favorite, even questioned the legitimacy of the outcry over the military reductions, from Defense Secretary Leon Panetta contending the cuts would be devastating to McKeon's warning that they would "cripple our ability to properly train and equip our force, significantly degrading military readiness."
"I think we need to be honest about it," Paul said in an interview on CNN Sunday. "The interesting thing is there will be no cuts in military spending. This may surprise some people, but there will be no cuts in military spending because we're only cutting proposed increases. If we do nothing, military spending goes up 23 percent over 10 years. If we sequester the money, it will still go up 16 percent. So spending is still rising under any of these plans."
According to the nonpartisan Congressional Budget Office, the planned Pentagon budget for 2021 would be some $700 billion, an increase over the current level of about $520 billion. The cuts already in the works plus the automatic reductions would trim the projected amount by about $110 billion.
"It's not a decrease in the military budget. It's reducing the increase," said John Isaacs, executive director of Council for a Livable World and Center for Arms Control and Non-Proliferation.
But McCain and Graham have been working on legislation that would undo the automatic defense reductions and instead impose a 5 percent across-the-board reduction in government spending combined with a 10 percent cut in pay for members of Congress.
The Senate resumes work next week on a massive defense bill, a possible candidate for any effort to rework or undo the cuts.
"It's a near certainty they will try to get out from under it," Robert Bixby, executive director of the Concord Coalition, a nonpartisan group advocating fiscal discipline, said of the automatic cuts. "It's equally certain they will damage their credibility if they do so."
The next year-plus plays out in a politically charged atmosphere, with Obama's Republican presidential rivals Mitt Romney and Rick Perry already criticizing the commander in chief for the proposed cuts in defense.
Senate Minority Leader Mitch McConnell, R-Ky., said it was imperative for Obama "to ensure that the defense cuts he insisted upon do not undermine national security" as Panetta has warned.
Congressional Republicans and Democrats must also decide in the coming weeks whether to extend unemployment benefits for the long-term jobless and leave in place a payroll tax cut enacted last year to prop up the economy.
One other costly question is whether to fix the Medicare payment formula to prevent a nearly 30 percent cut in reimbursements to doctors.
At the end of 2012, Congress must decide whether to extend the 2001 and 2003 tax cuts enacted under President George W. Bush. Democrats want to allow them to expire for wealthy Americans, Republicans want to extend them.
Under the automatic cuts, the Pentagon would face a 10 percent cut in its $550 billion budget in 2013. On the domestic side, education, agriculture and environmental programs would face cuts of around 8 percent.
The law exempts Social Security, Medicaid and many veterans' benefits and low-income programs. It also limits Medicare to a 2 percent reduction.
"It doesn't begin for 13 months," said Jim Kessler, vice president for policy at the centrist-Democratic group Third Way. "Between now and then is an eternity for Congress."
____
Associated Press writers Andrew Taylor and Alan Fram contributed to this report.
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WASHINGTON?? The latest Congressional failure to agree on a plan for balancing the government?s books could yield a surprising result: a sharp reduction in annual federal deficits, larger than anything contemplated by the special panel that reached its fruitless finale on Monday.
Other political news of note
First Read: Political groups are calling for Justice Elena Kagan and Justice Clarence Thomas to recuse themselves from the pending health reform case the Supreme Court has agreed to hear.
But the absence of an agreement also threatens to significantly slow growth in an already ailing economy by raising taxes on almost everyone while reducing government spending on almost everything.
Tax cuts passed in the Bush administration will expire at the end of 2012. By law, the panel?s failure triggers new caps on spending, cutting $1.2 trillion from the military, education, health care and other priorities over 10 years beginning next fall. The combined impact of higher tax rates and less spending would reverse the growth of annual deficits beginning in 2013, reducing by more than half the current $1.3 trillion gap between annual revenue and spending.
Story: Deficit panel admits it's a failure
That has inverted the normal reality, in which spending rises inexorably unless Congress musters the political will to impose cuts. Now, although both parties say they are committed to more gradual approaches, an agreement is required to avoid the fiscal equivalent of shock therapy.
?There could be a bit of a silver lining,? said Rosanne Altshuler, an economist at Rutgers University who served on President George W. Bush?s 2005 tax reform panel. ?It forces us to come to terms with cuts in areas that have been difficult to touch ? the military and Medicare. We may not like how the cuts are going to be done, but we better start dealing with the fact that cuts are going to have to be made.?
Video: ?Supercommittee? fails to reach debt deal (on this page)The latest committee, created in August as part of a deal to let the federal government borrow more money, was charged with identifying at least $1.2 trillion in spending cuts over the next decade. Its failure forces the same amount of spending cuts, with half the money coming from the military budget.
The immediate economic impact depends first on investors, who must decide whether they are now any more concerned about the nation?s financial condition. Any increase in the interest rates that the government must pay would widen the deficit, as would any decrease in economic growth. But while stock market indexes fell sharply Monday, with the Dow Jones industrial average down 248.85 points, investors continue to pay for the opportunity to lend money to the United States. Two credit rating agencies, Standard & Poor?s and Moody?s, affirmed their ratings of United States debt securities on Monday and said the failure did not change their assessment of the government?s ability to pay its debts. Fitch, a third agency, said it was reviewing its ratings and hoped to make a conclusion by the end of the month. It said in August that a failure by the special committee would probably result in a negative rating.
Story: What's next after supercommittee failure?
A second, looming question is whether Congress will extend a payroll tax break for workers and continue supplemental benefits for the long-term unemployed, both scheduled to expire at the end of the year. The tax break reduces the amount that workers must pay for Social Security; the extended benefits provide support for 3.5 million Americans who have been out of a job for longer than 26 weeks. The government will spend about $168 billion on the two programs this year. Economic forecasters estimate that a decision to end the benefits would reduce the country?s economic growth next year by more than one percentage point.
The Obama administration had hoped to wrap extensions of both benefits into a broader agreement. It now faces the challenge of rescuing a smaller compromise from the ruins of the negotiations, with some Republicans in outright opposition and others demanding offsetting cuts in other federal spending.
President Obama plans to call for the extension of both programs in New Hampshire on Tuesday.
Video: Obama: I will veto attempt to undo spending cuts (on this page)Representative Jeb Hensarling, a Republican from Texas on the special negotiating committee, said on ?Fox News Sunday? that its members had been ?laser-focused on trying to get success? on the payroll tax measure. But, he added, ?the bigger tragedy is we have unsustainable debt that is threatening our national security, is threatening our jobs, frankly, and is threatening our children?s future.?
The decisions that must be made by the end of next year over the future of the Bush tax cuts and the reductions in spending are far larger, as are the economic consequences.
The Obama administration wants to extend most Bush-era tax cuts while restoring higher rates for higher incomes. Democrats say they will not strike any agreement on spending cuts without an agreement to raise new revenue. Mr. Obama repeated on Monday that he would veto any legislation extending all of the cuts. Republicans say they will accept nothing less.
A Moody?s Analytics report warns that failing a deal, the combined impact will amount to a ?historically extreme? reduction in the deficit that could push the economy into recession. It notes that under current law, federal revenue would increase as a share of economic activity by 3.7 percentage points over 2012 and 2013 ? the sharpest rise since 1969, when, Moody?s says, sudden tax increases ?helped set off a mild recession.? Combined with the required budget cuts, the deficit would shrink to $510 billion from $1.3 trillion by 2013.
?You?re seeing a very rapid depletion of the budget deficit,? said Ben Garber, an economist with Moody?s Capital Markets Research Group who wrote the report. ?You?re taking a weak economy and removing a large part of potential demand, which could be enough to tip us into recession.?
POLL: Who do you blame more?
There is still plenty of time for Congress to unlock its self-imposed handcuffs and renounce frugality. Next year?s elections also could produce a clear mandate for one party to reduce deficits according to its priorities without any need for compromises. Partisans at both ends of the political spectrum said they welcomed the failure of the current talks as an opportunity to win just such a mandate.
Over the last month, conservatives feared that the committee would settle for cosmetic cuts. They now see an opportunity to secure larger reductions, without tax increases, to encourage faster growth.
Liberals hope the Occupy Wall Street protests have shifted political debate from an overriding focus on the long-term danger posed by the federal deficit toward a focus on unemployment, income inequality and other immediate economic problems.
?This committee was created at a very different time, when the dialogue was that our deficits were too big and unsustainable,? said Martin Hart-Landsberg, a professor of economics at Lewis & Clark College in Portland, Ore. ?This failure gives us time to help educate and change that dialogue, to focus on job creation and the direction of the economy.?
This article, "Behind deficit panel's failure, a surprise," first appeared in The New York Times.
Copyright ? 2011 The New York Times
Source: http://www.msnbc.msn.com/id/45397136/ns/politics-the_new_york_times/
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