Kerry: Ben Franklin Could Not Be Confirmed to Office If He Lived Today

MORE DELUSIONAL TALK FROM THE WAR TRAITOR!!!

(CNSNews.com) - At a reception at the State Department that marked the U.S. taking over the chairmanship of the Arctic Council, Secretary of State John Kerry said that if Benjamin Franklin lived today and was nominated for office he would never be confirmed.

“Franklin, actually, was raised partly by an aunt on Nantucket,” said Kerry. “He became the first person to publish, as a result of his findings, a chart of what he called ‘a river in the ocean,’ which, of course, we know as the Gulf Stream. So it’s a powerful current that affects all of our climate, including the conditions in the Arctic itself. So without knowing it--he didn’t talk about it, but he did something about it.

“And there is, of course, a second connection between Franklin and this reception,” Kerry said. “And that is that he liked to have a really good time, folks. And he didn’t spare the booze, and while he was in Paris he led a life that clearly meant that had he lived today and been nominated, he would never have been confirmed for office. (Laughter.) Anyway, it just goes to show how the times change.”

The Arctic Council is an intergovernmental forum for the eight countries that have territory in the Arctic—the United States, Russia, Canada, Denmark, Finland, Iceland, Norway and Sweden. The U.S. assumed chairmanship of the council in April.

VIA: CNS News

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The European Crisis (and American Future?) of too Many Over-Compensated Bureaucrats

The only sustainable way of achieving more prosperity and higher living standards is to increase the quality and quantity of labor and capital in the economy.

This may sound like boring econo-speak, but labor and capital are the two “factors of production” and our ability to consume is limited by what we can produce.

That’s one of the reasons why it’s important to reduce the burden of government spending.

People sometimes assume it’s important to reduce the budget to lower the threat of tax hikes. That is a good reason to impose fiscal discipline, but it’s presumably even more important to restrain spending because we don’t want labor and capital being misallocated by fiscal policy.

A big public sector, after all, presumably means a large bureaucracy. And when you have lots of people employed by government, that means that they’re not working in the private sector. In other words, they’re consuming economic output rather than adding to economic output.*

Or, as these cartoons illustrate, they’re riding in the wagon rather than pulling the wagon.

This is why advocates of economic growth should strive to limit the amount of bureaucrats and how much they’re paid. The bad news is that the public sector is far too large in the United States, and that means (as explained in this video) we have too many over-compensated bureaucrats.

Via: TownHall

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Inside China: Nuclear submarines capable of widespread attack on U.S.

Chinese state-run media revealed for the first time this week that Beijing’s nuclear submarines can attack American cities as a means to counterbalance U.S. nuclear deterrence in the Pacific.

On Monday, leading media outlets including China Central TV, the People’s Daily, the Global Times, the PLA Daily, the China Youth Daily and the Guangmin Daily ran identical, top-headlined reports about the “awesomeness” of the People's Liberation Army navy’s strategic submarine force.

“This is the first time in 42 years since the establishment of our navy’s strategic submarine force that we reveal on such a large scale the secrets of our first-generation underwater nuclear force,” the Global Times said in a lengthy article titled “China for the First Time Possesses Effective Underwater Nuclear Deterrence against the United States.”

The article features 30 photos and graphics detailing, among other things, damage projections for Seattle and Los Angeles after being hit by Chinese nuclear warheads and the deadly radiation that would spread all the way to Chicago.

China’s sub fleet is reportedly the world’s second-largest, with about 70 vessels. About 10 are nuclear-powered, and four or more of those are nuclear ballistic submarines capable of launching missiles.

Enlarge Photo

Image for Yu column Inside China Source: Global Times more >

Heavily influenced by Soviet naval models that stressed underwater forces, China’s nuclear submarine development began with the reverse-engineering of a Soviet Golf-class conventional-powered sub in the 1950s.

In the 1980s, China developed its first ballistic missile sub, the Type 092 Xia-class, which has 12 launch tubes for the Julang (Giant Wave)-1 missiles. The JL-1 had a limited range and failed multiple test launches.

In 2010, a new class of missile sub, the Type 094 Jin class, entered the service. It is capable of launching 12 to 16 JL-2 missiles with a range of about 8,700 miles, covering much of the continental U.S. with single or multiple, independently targetable re-entry vehicle warheads.

Chinese calculations for nuclear attacks on the U.S. are chillingly macabre.

“Because the Midwest states of the U.S. are sparsely populated, in order to increase the lethality, [our] nuclear attacks should mainly target the key cities on the West Coast of the United States, such as Seattle, Los Angeles, San Francisco and San Diego,” the Global Times said.

Via: Washington Times

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Signs of rift between Israel and US over Iran

Israeli Prime Minister Benjamin Netanyahu speaks at the weekly cabinet meeting at his Jerusalem office on Sunday, Oct. October 2013.

JERUSALEM (AP) — Just days after the first round of global nuclear talks with Iran, a rift appears to be emerging between Israel and its closest ally, the United States.

Israel's prime minister on Sunday called on the U.S. to step up the pressure on Iran, even as American officials hinted at the possibility of easing tough economic pressure. Meanwhile, a leading Israeli daily reported the outlines of what could be construed in the West as genuine Iranian compromises in the talks.

The differing approaches could bode poorly for Israel as the talks between six global powers and Iran gain steam in the coming months. Negotiators were upbeat following last week's talks, and the next round of negotiations is set to begin Nov. 7.

Convinced Iran is pursuing nuclear weapons, Prime Minister Benjamin Netanyahu believes the Iranians are trying to trick the West into easing economic sanctions while still pushing forward with their nuclear program. Iran insists its program is for peaceful purposes.

"I think that in this situation as long as we do not see actions instead of words, the international pressure must continue to be applied and even increased," Netanyahu told his Cabinet. "The greater the pressure, the greater the chance that there will be a genuine dismantling of the Iranian military nuclear program."

Israel considers a nuclear-armed Iran a threat to its very survival, citing Iranian references to Israel's destruction.

Netanyahu says pressure must be maintained until Iran halts all enrichment of uranium, a key step in producing a nuclear weapon; removes its stockpile of enriched uranium from the country; closes suspicious enrichment facilities and shutters a facility that could produce plutonium, another potential gateway to nuclear arms.

Despite Netanyahu's warnings, there are growing signs that any international deal with Iran will fall short of his demands.

Via: Houston Chronicle

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Priests threatened with arrest if they minister to military during shutdown

In a stunning development, some military priests are facing arrest if they celebrate mass or practice their faith on military bases during the federal government shutdown.

“With the government shutdown, many [government service] and contract priests who minister to Catholics on military bases worldwide are not permitted to work – not even to volunteer,” wrote John Schlageter, the general counsel for the Archdiocese for the Military Services USA, in an op-ed this week. “During the shutdown, it is illegal for them to minister on base and they risk being arrested if they attempt to do so.”

According to its website, the Archdiocese for the Military Services “provides the Catholic Church’s full range of pastoral ministries and spiritual services to those in the United States Armed Forces.”

In his piece, Schlageter worries about this restriction as Sunday nears. “If the government shutdown continues through the weekend, there will be no Catholic priest to celebrate Mass this Sunday in the chapels at some U.S. military installations where non-active-duty priests serve as government contractors,” he wrote.

Because of the lack of active-duty Catholic chaplains, the military relies on hiring civilian priests to serve as government service and contract ministers. Those civilian priests are not allowed on the bases during a shutdown, Schlageter wrote.

Via: Daily Caller

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GOVERNMENT SHUTDOWN – WHAT’S NOT TO LOVE?

With any luck, the government will shut down very soon. Hans von Spakovsky’s description of such an event (reproduced on this site with the gracious permission of the Heritage Foundation) states that, “crucial services will continue without interruption…It would pare down government services to those most essential for ‘the safety of human life or the protection of property.’”

We’re getting back to our roots. Isn’t what von Spakovsky depicts essentially the type of limited government the Founders had in mind?

The Fed will, unfortunately, continue “crucial benefit payments,” and they won’t stop collecting taxes (that would too good to be true). Let’s hope, at least, that everyone in the United States realizes how much better the country works when its government doesn’t.

Via: Human Events

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Dem Senator: I Think This Is All Part of Obama’s Plan

The rapid diplomatic developments over the last day or so between the United States, Russia, Syria, and the rest of the international community are all part of a “creative” plan the Obama administration came up with to avoid military strikes in Syria, according to one Democratic senator.

“I believe in serendipity to a point, but I do believe that the president has been talking to the Russians about this for a number of days, at least,” Chris Murphy, a freshman from Connecticut, said on CNN on Tuesday afternoon. “There’s some pretty smart guys in this administration who I know have been thinking long and hard about every possible way around war.”

Via: National Review Online

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WaPo Poll: 70% Oppose Arming Syrian Rebels, 59% Against Military Intervention…

Second poll of the day showing major opposition to getting involved militarily in Syria.

Via: Weasel Zippers

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The 2013 Anxiety Meter

All through 2012 I kept telling myself that, if I could just wait it out until the elections, a majority of Americans would surely set things right by electing Mitt Romney, but we have since learned that he was a reluctant candidate who, if we are to believe his son—and I think we can—really didn’t want to get in the race, but thought the others in the primaries had little chance of winning.

I won’t blame Romney for the loss. Running against an incumbent President has rarely yielded victory. He had all the right qualifications, but he always struck me as just “too nice” and, as we know, Republicans were reluctant to tear into Obama’s appalling record on the economy and other issues. Like Romney, they are “too nice” despite being up against political thugs.

I think 2013 is going to be a very unlucky year for the United States and it has a lot to do with the fact that Barack Hussein Obama is now free to finish off his destruction of America because he does not have to run again for office.

Anyone who has seen Obama in action over the past four years has reason to fear 2013 and beyond. Any man who wants to be President has to have a lot of confidence in himself and a very thick skin. Obama, however, turns every occasion, including the recent funeral service of Sen. Denial Inouye, into an opportunity to talk about himself. A National Standard article noted that during the recent funeral for Hawaii senator Daniel Inouye, Obama “in the short 1,600 word speech…used the word “my” 21 times, “me” 12 times, and “I” 30 times.”

Via: Canada Free Press

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The planned re-election of Obama, revolutionary style

It was not the proverbial 3:00 a.m. phone call, but close enough. And it was not made to the White House, but to my house, which is not white, nor is it in DC. It was about 2:30 a.m. on 25 April 2012, and the call itself was somewhat unexpected. I had anticipated the telephone call from my DHS insider much earlier the previous day, but our schedules didn’t synch up. I was traveling on an investigative assignment, while my source was in meetings all day. I had just fallen asleep, and was slumbering no more than 20 minutes when the phone rang.

n most households, a ringing phoneat that time of night causes concern for everyone who hears it. In my household, it seems to surprise only my surly, 140 pound light-sleeping German Shepherd. He let out an objective grunt as I stepped over him to take the call in another room. It was “Rosebud,” the code name given my insider source.

About Rosebud

Just a little bit here about my source and his “super-secret code name.” I’ve known this government insider since 1979, when he first became a municipal patrol officer. He took a job in a bigger city and had a very successful run as a cop. Before retirement and after the events of 9/11, he was tapped by the feds, where he worked in various capacities under the umbrella of DHS. He worked his way up, and suddenly found himself in what he terms the inner sanctum of the “TEC” building. TEC, he explains, is an acronym for what he calls “The Estrogen Challenged,” which houses the upper echelon of the Department of Homeland Security. I’ll leave it at that.

Via: Canada Free Press

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Federal Job Corps Vans Used to Bus Voters in Wisconsin

Media Trackers has found federal Job Corps vans being used to bus voters to at least one polling location in the City of Milwaukee. A van with federal plates and driven by a Job Corps employee was seen pulling up to the small polling station at the Clara Barton Elementary School in urban Milwaukee shortly after 1:00 pm on Tuesday. A Job Corps administrator inside the polling place said the federal vans had brought approximately 125 Job Corps participants to the poll as of early afternoon.

 

The administrator declined to give his name. The Job Corps is a division of the United States Department of Labor, a cabinet level agency that reports directly to President Obama, who is up for re-election today and who has campaigned hard in Wisconsin in recent days.

 

Poll workers inside the location struggled to handle the extra traffic created by the Job Corps participants brought in from a nearby training facility. A number of them were first time voters who had to be registered using Wisconsin’s same-day registration procedure. At one point a poll worker had to be asked by an unidentified election observer to confirm that a would-be registrant actually lived in the precincts served by the polling location.

Via: Media Trackers

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Socialist Liberal Democrats Will Destroy America and Sadly the Left Wing Media Will Gladly Help

Today is Halloween, a day of spooks, goblins and weirdos.  No it is not election day, that’s not for six more days on November 06, 2012; but it will have more than its fair share of Halloween type characters.  Both major political parties will present their versions of the trickery ogres among whom are downright dastardly persons who seek to destroy the United States and all the good things it has brought to the world in the 236 years of its existence.

But this year of 2012 has seen a period of divisiveness in our grand republic that borders on the great separation that occurred in 1861 when eleven southern states seceded from the Union.  This year the issue that is the divider is Socialism, and instead of a geographical set of states for and against the issue, two political parties encompassing citizens from all fifty states are the opponents.

The current President of the United States is engaged in a plan to abolish our tried and true Constitution and install a communist-like program of redistribution of the wealth.  In other words take from the “haves” and give it to the “have-nots” which files In the face of the standards of governance that has allowed America to climb to the highest level of civilized nations in just over 200 years of existence.

Obama is a student and follower of the Socialist - Communist theory and practices of punishing the productive while rewarding the unproductive and incapable.  What was once a dream of success and riches after applying oneself to an ethic of hard work and study is long gone and any just rewards for that hard work will be taken from them and given to those who show no attitudes to succeed.

Via: Canada Free Press

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Illegal Aliens and Federal Benefits

Theoretically, the law forbids illegal aliens from receiving benefits reserved for American citizens with the exception of emergency Medicaid. In practice, it does not prevent any of them from applying for and receiving benefits paid for by American taxpayers who sometimes, are themselves denied benefits.

Emergency Medicaid provided in emergency rooms, although well intentioned, has been used and abused by illegal aliens as their own personal physician, resulting in the bankruptcy of many small hospitals across the nation, particularly in California.

Federal benefits distributed to illegal aliens include: grants, contracts, loans, professional and commercial licenses, retirement, welfare, WIC, disability, public housing, college education, Pell grants, food stamps, tax credits, earned income credits, tax refunds, and unemployment benefits

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The Census Bureau reports 40 million foreign-born people residing in the United States. In this category, one-third is estimated to be illegal aliens. Liberal mainstream media calls them “undocumented workers,” “in the shadows residents,” or “unauthorized residents.”

According to the Pew Hispanic Center there were 11.2 million “unauthorized immigrants” in 2010. Their in-house demographer, Jeffrey Passel, used 2008 Current Population Survey (CPS) to estimate “the number of persons living in families in which the head of household or the spouse was an authorized alien,” for a total of 8.8 million families. Liberals like to redefine illegal aliens with euphemisms that suit their agenda. Other sources publish much higher numbers of illegals.

Illegal alien families are likely to have U.S. citizen children or “anchor babies.” These families are given “mixed status” by the Congressional Research Service. Passel also estimates that one in three illegal alien children is poor. This is obvious since illegal aliens have fled their home countries mostly for economic reasons and dire poverty.

Liberals lobby Congress to deal with illegal aliens based on controversies such as demographic issues, how to treat illegal families that have “anchor babies” who are U.S. citizens, and how strict identification requirements may hurt Americans who are denied benefits.

Via: Canada Free Press

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Another Reason Why America Is Amazing ...

U.S. May Overtake Saudi Arabia As World’s Top Oil Producer
NEW YORK (AP) - U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

The boom has surprised even the experts.

"Five years ago, if I or anyone had predicted today's production growth, people would have thought we were crazy," says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm.

The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year. That would be a record for the U.S. and just below Saudi Arabia's output of 11.6 million barrels. Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America "the new Middle East."

The last year the U.S. was the world's largest producer was 2002, after the Saudis drastically cut production because of low oil prices in the aftermath of 9/11. Since then, the Saudis and the Russians have been the world leaders.

The United States will still need to import lots of oil in the years ahead. Americans use 18.7 million barrels per day. But thanks to the growth in domestic production and the improving fuel efficiency of the nation's cars and trucks, imports could fall by half by the end of the decade.

The increase in production hasn't translated to cheaper gasoline at the pump, and prices are expected to stay relatively high for the next few years because of growing demand for oil in developing nations and political instability in the Middle East and North Africa.

Via: CNS News

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Obama Collapse: Romney Tied In Michigan

Foster McCollum White Baydoun (FMW)^B, a national public opinion polling and voter analytics consulting firm based in Michigan and representing the combined resources of Foster McCollum White & Associates (Troy Michigan) and Baydoun Consulting (Dearborn Michigan) conducted a telephone-automated polling random survey of Michigan registered and most likely November 2012 General election voters for Fox 2 News Detroit to determine their voting and issue preferences for the presidential election. 

An initial qualifying statement was read to respondents asking them to participate only if they were very likely to vote in the November General Election.

Thirty five thousand (35,000) calls were placed, and 1,122 respondents fully participated in the survey. The margin of error for this total polling sample is 2.93% with a confidence level of 95%.

The 2012 United States Presidential election will be held on November 6, 2012. Who are you most likely to vote for in the election?

President Barack Obama             46.92%
Republican Nominee Mitt Romney            46.56%
another candidate            2.30%
Undecided             4.23%

Via: MyFoxDetroit

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[VIDEO] Obama's Planned Parenthood Claim Destroyed...By Planned Parenthood

Fire it up

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Published on Oct 20, 2012 by BlackAndRight

Despite the fact the Department of Health and Human Services says there are NO Planned Parenthood clinics in the United States licensed to offer mammograms, President Obama and his surrogates continue to claim a defunding of Planned Parenthood will deny women of services they don't offer.

Via: Fox News

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NY Times Caught Editing Story On Iran Nuclear Negotiations After White House Denial

The White House scrambled late Saturday to deny a New York Times report claiming Iran has agreed to meet directly with U.S. officials to discuss its nuclear program, sending New York Times editors rushing to quietly but substantially revise their initial reporting on a key foreign policy issue for the second time in as many months.

According to the Times, which anonymously quoted senior administration officials, Iran told diplomats it wanted to wait until after the November presidential election to put plans for the meeting in motion.

“It has the potential to help Mr. Obama make the case that he is nearing a diplomatic breakthrough in the decade-long effort by the world’s major powers to curb Tehran’s nuclear ambitions,” the Times report said.

Within hours, White House officials responded the report was mostly inaccurate.

“It’s not true that the United States and Iran have agreed to one-on-one talks or any meeting after the American elections,” National Security Council spokesman Tommy Vietor said in a statement. ”[However, the White House has] said from the outset that we would be prepared to meet bilaterally.”

“The President has made clear that he will prevent Iran from getting a nuclear weapon, and we will do what we must to achieve that,” Vietor added. “It has always been our goal for sanctions to pressure Iran to come in line with its obligations. The onus is on the Iranians to do so, otherwise they will continue to face crippling sanctions and increased pressure.”

Meanwhile, a senior administration official told NBC News on background that back-channel talks with Iran were in progress, but confirmed that no definite agreement about a meeting had been reached. (RELATED OPINION: Obama, Iran in secret nuclear deal)

When the New York Times updated its story late Saturday to reflect Vietor’s statement, the paper made no mention of the update or any correction to the story, leaving readers with the impression that the White House’s denial had been in the story all along. In fact, the initial version of the story portrayed the development as a tentative victory for the Obama administration, which has recently been faced with foreign policy crises in the Middle East and Libya.

Via: Daily Caller

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US ‘too slow’ to act as drone’s cam captured Libya horror

The United States had an unmanned Predator drone over its consulate in Benghazi during the attack that slaughtered four Americans — which should have led to a quicker military response, it was revealed yesterday.

“They stood, and they watched, and our people died,” former CIA commander Gary Berntsen told CBS News.

The network reported that the drone and other reconnaissance aircraft observed the final hours of the hours-long siege on Sept. 11 — obtaining information that should have spurred swift action.

But as Ambassador Christopher Stevens and three colleagues were killed by terrorists armed with AK-47s and rocket-propelled grenade launchers, Defense Department officials were too slow to send in the troops, Berntsen said.

EPA

VIEW TO A KILL: As terrorists attacked the consulate in Benghazi, a US Predator drone was reportedly observing from above.

“They made zero adjustments in this. You find a way to make this happen,” he fumed.

“There isn’t a plan for every single engagement. Sometimes you have to be able to make adjustments.”

The Pentagon said it moved a team of special operators from Central Europe to Sigonella, Italy — about an hour flight from Libya — but gave no other details.

Fighter jets and Specter AC-130 gunships — which could have been used to help disperse the bloodthirsty mob — were also stationed at three nearby bases, sources told the network.

When the attack began, Chairman of the Joint Chiefs Martin Dempsey and Defense Secretary Leon Panetta “looked at available options, and the ones we exercised had our military forces arrive in less than 24 hours, well ahead of timelines laid out in established policies,” a White House official told the network.

Even as the administration continues to vow that the perpetrators will be brought to justice, the man identified by witnesses as a ringleader in the attack continues to walk the streets of Libya without fear of arrest.

Via: New York Post

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FBI STING THWARTS NY TERROR PLOT TO 'DESTROY AMERICA'S ECONOMY'

A deadly terror plot to detonate a bomb on the New York Federal Reserve Bank building Wednesday morning was thwarted, thanks to a several months’ long sting operation conducted on behalf of the FBI New York Field Office’s Joint Terrorism Task Force (JTTF). Detectives from the New York Police Department, working with the JTTF, also closely monitored the would-be bomber’s activities.

Quazi Mohammad Rezwanul Ahsan Nafis, a 21 year old Bangladeshi man who entered the United States on a student visa in January 2012, is alleged to have attempted to provide material support and resources to Al Qaeda and to use a bomb to cause damage to persons and property within the United States.

According to the criminal complaint filed in the Eastern District of New York, Nafis had come to the United States specifically for the purpose of recruiting individuals for a terror cell and carrying out an attack on American soil. Unbeknownst to Nafis, one of the individuals he attempted to recruit turned out to be a confidential human source (CHS) for the FBI.

In early July of this year, the complaint alleges, Nafis told the CHS that he intended to wage “jihad” in the US, advising that “all Muslims and Muslim sheikhs in the United States are "Talafi," meaning not true Muslims.” Nafis indicated that he was in touch with another co-conspirator in New York and a contact in Bangladesh.

Between the months of July and October, numerous meetings and consensually recorded conversations occurred between Nafis and the FBI source, wherein plans progressed for an attack on potential targets in New York’s financial district. Claiming to have Al Qaeda contacts overseas, Nafis indicated that he intended to return to Bangladesh to obtain training from the terrorist organization, and he planned on executing an attack on a high-ranking official in the US.

Nafis expressed an eagerness to commit the act on behalf of Al Qaeda, and an undercover FBI agent joined the operation, posing as an Al Qaeda facilitator responsible for overseeing the plans.  Nafis told the undercover agent:

What I really mean, is that I don’t want something that’s like, small. I just want something big. Something very big. Very very very very big, that will shake the whole country, that will make America, not one step ahead, change of policy, and make one step ahead, for the Muslims… that will make us one step closer to run the whole world…

Via: Breitbart

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Exclusive: Study shows $1.2 trillion gap for public pensions

(Reuters) - The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday.

The pension systems reported a median funding level of 75.1 percent. The study by the actuarial firm Milliman, which used different ways to value assets and measure liabilities, finds an aggregate level of funding of 67.8 percent.

But Milliman, one of the world largest actuarial firms took a close look at U.S. public pension funding for the first time, and said the multibillion-dollar difference was good news.
Rebecca Sielman, the report's author, said results should reassure the public that America's public pensions in general are accurately reporting their funding shortfalls.

The difference between what public pensions across the United States have reported and what Milliman found wasn't significant, Sielman said. She noted that a relatively small change in the way the figures are calculated could lead to seemingly outsized results because the funds are so large.
"The numbers really didn't change that much," she said. "It really didn't move the needle."

Both the pension funds' reported results and Milliman's findings fell within the range of previous estimates from other studies of the total size of the public pension shortfall in the United States.
With the study, Milliman, stepped into the debate about whether public pensions are underreporting the size of their liabilities.

That hot-button issue revolves around how much money public employers - and, by extension, taxpayers - will have to contribute to cover future payouts for member benefits. It is a key issue at a time of dwindling revenues and tighter budgets for states and local governments.

Pension funds get money from the returns on their assets and from members' contributions. States and cities also pay into the funds, but their contributions are discounted based on how much money they think their investments will make over time.

Via: Reuters

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