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Monday, July 11, 2011

Shifting the Debt burden on to the poor and the elderly

It appears that the President and the Republicans are trying to outdo each other in shifting more of the country resources faster than ever into the hands of the wealthy, while starving the weak or the elderly.

Obama: We 'need to' get a debt deal in 10 days - Yahoo! Finance: "The meeting came a day after House Speaker John Boehner abandoned efforts to bargain for a $4 trillion, 10-year debt trimming agreement. Boehner said a smaller deal that would reduce the deficit by about $2.4 trillion over the next decade was more realistic...."

Geithner says hard times to continue for many - Yahoo! Finance: "Treasury Secretary Timothy Geithner (GYT'-nur) says many Americans will face hard times for a long time to come.

He says President Barack Obama rescued the United States from a second Great Depression and will keep working to strengthen the economy. But Geithner says will be some time before many people feel like the country is recovering.

Geithner tells NBC's 'Meet the Press' that it's a very tough economy. He says that for a lot of people 'it's going to feel very hard, harder than anything they've experienced in their lifetime now, for a long time to come.'"
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Treasury Secretary Timothy Geithner (GYT'-nur) says many Americans will face hard times for a long time to come.

He says President Barack Obama rescued the United States from a second Great Depression and will keep working to strengthen the economy. But Geithner says will be some time before many people feel like the country is recovering.

Geithner tells NBC's "Meet the Press" that it's a very tough economy. He says that for a lot of people "it's going to feel very hard, harder than anything they've experienced in their lifetime now, for a long time to come."

Geithner: We want `biggest deal possible' on debt - Yahoo! Finance: "Treasury Secretary Timothy Geithner says the Obama administration wants to seek 'the biggest deal possible' on debt reduction."

Conn. says "large-scale" layoffs to begin - Yahoo! Finance: "he number of layoff notices being issued to state employees in Connecticut is expected to ramp up.

Gov. Dannel P. Malloy said 'large-scale' layoff notices will likely be issued this week, possibly beginning on Tuesday.

The Democratic governor has already said that about 6,500 job cuts are needed to help balance the budget after unionized state employees rejected a labor savings and concessions deal. He said hundreds of notices have already been issued."

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