Rep. Smith Challenges Government Over Giving $364 Million to Liberal Group

Hundreds of millions of taxpayer dollars have be paid to a liberal journalism group, and the agencies responsible don’t seem to want to talk about it. But some in Congress aren’t afraid of the issue. Rep Lamar Smith, R-Texas, addressed the issue on the floor of the House of Representatives on Jan. 13, asking his fellow members of Congress why taxpayers were “subsidizing a liberal news outlet.”

Internews is a liberal journalism nonprofit that has gotten more than $364 million from the U.S. government in the past 10 years, as well as $1.7 million from liberal billionaire George Soros.  It has also founded three liberal journalism outfits: Link TV, the Earth Journalism Network and Climate Commons.

(video after break)

“Mr. Speaker, since 2002, over $362 million dollars in government grants have gone to fund a liberal news organization by the name of Internews,” Rep. Smith said.

“The Business and Media Institute describes Internews as a liberal journalism nonprofit and states that not only does it push a liberal agenda but it also has helped create at least three other liberal organizations. 

“Why are taxpayers’ dollars subsidizing a liberal news outlet? This is a misuse of the public’s money. People need unbiased information so that they can form their own opinions and make educated decisions.

“One of the greatest challenges a democratic America faces today is a biased media.  It is inexcusable and irresponsible for the federal government to give any of the American taxpayers’ dollars to a liberal media organization.”

Rep. Smith earlier told the Business and Media Institute that such funding was “inexcusable and irresponsible.”

The amount of government funding going to Internews is staggering. In 2011 alone, it received $52,350,784 in government grants, according to its 990 tax forms. This makes up 92.4 percent of the $56,644,153 in total reported revenue for that year. And 2011 wasn’t unusual. According to the Soros-funded Center for Public Integrity, “all but $1.6 million of the $26.7 million in revenue it [Internews] reported in 2004 came from the federal government.” 

Via: Newsbusters.org

Continue Reading....

Social Security benefits may be on table in budget talks

WASHINGTON — With congressional budget negotiations moving behind closed doors, one item apparently on the table is changing the way cost-of-living adjustments are calculated for seniors, veterans and other recipients of government benefits.

The consumer price index, or CPI, is the government’s main gauge of inflation and is used to determine cost-of-living adjustments, often shorthanded as COLAs. It’s a formula used for more than four decades.

But President Barack Obama earlier this year proposed a less generous formula called a “chained” consumer price index, in hopes of saving the government $230 billion over 10 years.

In April, Obama’s proposal was viewed as an olive branch to Republicans that was largely rejected. With budget bills passed by the House of Representatives and the Senate now in a conference committee to narrow differences and a mid-January deadline approaching, the issue is back on the table.

The chairman of the congressional talks, House Budget Committee Chairman Paul Ryan, R-Wis., identified the issue as an area ripe for compromise.

Via: McClatchy

Continue Reading.....

Read more here: http://www.mcclatchydc.com/2013/11/14/208625/social-security-benefits-may-be.html#storylink=cpy

CPI up 0.1% for August as Fuel Oil, Food, Medical Care Cost More

The Consumer Price Index increased a seasonally adjusted 0.1% for August, according to a Labor Department report (link opens as PDF) released today. 

After cheap natural gas kept July's Index to 0.2% gains, analysts' expectations for August proved right on the money. 

Source: Labor Department. 

According to the report, the Index's edge up was largely a result of steady 0.1% gains in food prices (pushed higher by more expensive fruits, vegetables and meats), as well as a 1.2% jump in fuel oil and a 0.7% increase in medical care services. Utilities marked a third month of declines with a significant 2.3% dip. Excluding more volatile food and energy prices, the CPI still managed 0.1% gains. 

The shelter index increased 0.2%, the same increase it notched in June and July, with the rent index increasing 0.4% and the index for "owners' equivalent rent" rising 0.2%.

Today's report showed gas prices slipped 0.1% last month, the first drop since April. New-car prices were unchanged. Travel costs eased: Air fares plunged 3.1% , the third straight drop. Hotel prices fell 0.7%.

Over the last 12 months, the CPI has headed 1.5% higher, pushed up by a 3.2% increase in energy services. Overall energy prices have remained low, however, with energy commodities dipping 2.2% and gasoline specifically notching a 2.4% decline. Food prices are up 1.4% in the last year. 

Via: The Motley Fool

Continue Reading....

Gasoline Prices More than Double Under Obama: $1.84 to $3.85

In this Monday, Sept. 10, 2012 photo gasoline prices are displayed at a Mobil station in Needham, Mass. (AP Photo/Steven Senne)

(CNSNews.com) – Average retail gasoline prices have more than doubled under President Obama, according to government statistics, rising from $1.84 per gallon to $3.85 per gallon.
The average gasoline price is calculated by the Energy Information Agency, and shows that over the past 43 months of President Obama’s term retail gasoline prices have more than doubled, rising from an average of $1.84 per gallon to $3.85 per gallon
.
Rising gasoline prices were particularly prevalent in August, which saw a 9.0 percent rise in the Consumer Price Index (CPI) for gasoline, a rise that almost entirely accounts for the general increase in prices seen by families across the country over the past month.

In other words, the recent spike in prices for all goods – tracked by the government’s Consumer Price Index – can be almost entirely accounted for by the rise in gasoline prices. Prices in the economy rose by 0.6 percent overall in August
.
“The seasonally adjusted increase in the all items index was the largest since June 2009. About 80 percent of the increase was accounted for by the gasoline index, which rose 9.0 percent and was the major factor in the energy index rising sharply in August after declining in each of the four previous months,” the Bureau of Labor Statistics said in a press release announcing the new CPI figures for August.

Over the past twelve months, general prices have risen 1.7 percent, BLS reported.
CPI is a measure of the average change in prices for goods and services in the economy seen by consumers – making it the leading indicator of the inflation experienced directly by consumers throughout the country.

Via: CNS News
Continue Reading...