What Caught My Eye Today - Barack Obama's plan for jobs and economic growth

Fred's Note: It occurs to me that in recent posts regarding the upcoming U.S. Presidential election that I am guilty of doing the same thing as various media outlets by rendering opinions on statements that I may have taken out of context. To be fair, I'm not a professional journalist and doubt very much that my blog will ever reach the critical mass that the New York Times does. However, the information is readily available to anyone who truly wants to make an informed decision come Election Day in November. With that in mind, over the next several days and weeks, I'll be posting excerpts from the websites of both the Republican presidential candidate, Mitt Romney and the incumbent Democratic candidate, Barack Obama. It goes without saying that I will be adding some color commentary, but the content will be from the candidates themselves.

Second in our series , Barack Obama's plan for jobs and economic growth.

The President is taking aggressive steps to put Americans back to work and create an economy where hard work pays and responsibility is rewarded. We’ve added back more than 4.4 million private sector jobs and seen 28 straight months of job growth—but there’s more work to do. When President Obama took office, he both addressed the immediate economic crisis and laid the foundation for a U.S. economy that’s built to last.

• Putting Americans Back To Work: When President Obama took office, the economy was losing more than 700,000 jobs per month. President Obama acted quickly to pass the American Recovery and Reinvestment Act, which cut taxes for small businesses and 95% of working families. It also included emergency funding to support about 300,000 educator jobs, more than 4,600 law enforcement positions, and investments in the clean energy sector that supported 224,500 jobs through 2010. Through May 2012, the economy has added 4.4 million private sector jobs over 28 consecutive months of job growth. In his State of the Union address, the President laid out a blueprint for an economy that’s built to last—an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values. I have to say, I'm a bit underwhelmed by Obama's plan, or lack thereof, regarding the economy. Almost all of his positions regarding the economy highlight past accomplishments. No offense, Mr. President, but we live in a world where "What will you do for me?" counts for much more that "What have you done for me?". I'm not saying that's fair, but that's the world we live in.
• Investing in American Manufacturing and Innovation: President Obama wants to grow high-technology U.S. manufacturing capacity and supply clean energy projects with American-made parts and equipment. That’s why he’s provided tax incentives to and made investments in clean energy technologies such as wind turbines and advanced car batteries. He has launched the Advanced Manufacturing Partnership, a national effort to invest in technologies that will create high-quality manufacturing jobs and enhance America’s global competitiveness. He also signed the America Invents Act, historic patent reform legislation that will help American entrepreneurs bring inventions to market sooner, helping to create new businesses and new jobs. While amounting to a snooze-fest for most of the general population, the America Invents Act is a pretty big deal and has the potential for paying vast dividends in terms of preserving the United States' place at the top of the value chain. But again, what is the plan for the next four years.
• Supporting Small Business: President Obama has passed tax cuts for small businesses 18 times and streamlined the patent process, providing a new fast track option to cut wait times by two-thirds and help small business innovators move ideas from the lab to market. The Affordable Care Act provides small business owners with better affordable health care options for employees, simpler administrative operating rules, and billions of dollars in tax relief. Eighteen times? I don't remember that many, but I will chalk that up to either boring press or a lousy PR guy in the Obama Administration. And I'm not sure I'd be touting the Affordable Care Act as the silver bullet that will solve all that ails the nation just yet. Most of provisions don't kick in for another two years.
• Made in America: President Obama created the National Export Initiative, an effort to help businesses compete in the global marketplace and double our nation’s exports by 2015, a target we’re on track to meet. To level the playing field for American businesses and workers, Obama signed trade agreements with South Korea, Colombia, and Panama. Together, the agreements are estimated to increase exports by approximately $13 billion and support more than 70,000 American jobs. More great sound bites, but where is the substance?
• Rescuing the U.S. auto industry: President Obama made the tough and politically unpopular decision to extend emergency rescue loans to the American auto industry, saving more than 1 million jobs and preventing the loss of over $96 billion in personal income—and the collapse of manufacturing in the Midwest. Other than getting his health care reform legislation enacted, this is probably Obama's next biggest achievement. And for once, I agree that he should use this in his stump for another term. Romney doesn't really have a leg to stand on with regard to this one issue.
• Wall Street Reform: President Obama passed the Wall Street Reform and Consumer Protection Act to hold Wall Street accountable, prevent future financial crises, and end the era of "too big to fail." Wall Street reform ensures that if a financial company fails, it will be Wall Street that pays the price—not the American people—and sets ground rules for the riskiest financial speculation. President Obama also enacted a Credit Card Bill of Rights to protect consumers from unfair and deceptive practices, like over-the-limit charges and hidden costs. Too bad Congress has done a great job of doing practical nothing to enact any of the provisions of the legislation. More than likely, the opposition will spin this as Obama being unfriendly to big business and entrepreneurship. A bogus claim, but since when has that mattered?
• Protecting Consumers: Through Wall Street Reform, President Obama created the Consumer Financial Protection Bureau. The agency defends consumers from unfair and abusive financial practices and makes sure that credit card companies and mortgage and payday lenders follow the rules. Again, unless the Democrats manage to keep a majority in the Senate and, somehow, take back the House, I fear this act will be much ado about nothing

Once again, I urge you to form your own opinions rather than rely on my brilliant insights or anyone else's. You can read up on Barack Obama's position on the economy here. Next time, Mitt Romney's stance on health care.

What Caught My Eye Today - Michele Bachmann, Israel, Congress, Time, Olympics

Michele Bachmann - Minnesota Congresswoman, Michele Bachmann has alleged that Huma Abedin, one of Secretary of State Hillary Clinton's top aides, has ties to the Muslim Brotherhood. This should be good. Bachmann cites reports that Abedin's long-deceased father once "crossed paths of people" associated with the organization. If that isn't ironclad proof, I don't know what is. Based on this information, Bachmann alleges that Abedin is helping Islamists "secretly burrow their way into our government." Well, duh. With a name like Abedin, he must be be a radical Islamic fundamentalist. Fellow Republicans, including Senator John McCain of Arizona, are condemning Bachmann for launching "an unwarranted and unfounded attack on an honorable woman." Bachmann refuses to relent, and Abedin is now receiving death threats. I sometimes wonder what sort of cranial wiring it takes to to dream this stuff up. Seriously, was it a slow news day or what? You wouldn't believe how many media outlets picked up on this story. I have to confess I was laughing after reading this, and then it dawned on me that some poor guy has received death threats based on the preposterous rantings of a government official who clearly lives in a different reality than the rest of us. Shame on me, and shame on Michele Bachmann.

Israel - Moshe Silman, a son of Holocaust survivors set himself on fired during a protest and later died of his burns. If memory serves, this is not the first time someone has resorted to this form of protest. Don't help me...it'll come to me. A few years ago, Silman lost his business and incurred a small debt, and his nightmare began. Tangled in a web of bureaucracy, he was harassed by various government agencies. His appeals for public housing were ignored until, on the brink of homelessness, he set himself alight in public at a rally marking the anniversary of last year's protests for social justice. Yup, I definitely remember reading something like this...oh, when was it? February, 2011...just before spring. Same part of the world too, I think? The demonstrations following his self-immolation reveal that a portion of the Israeli population is "like a powder keg ready to explode." Ah ha! Arab Spring. That's it! Of course, I'm not sure I would have predicted that Israel would be prone to this sort of protest. Then again if you had asked me in January 2011 if Tunisia, Bahrain, Egypt, Libya and Syria were all going to be subject to regime change and/or civil war, I probably would have said no that that as well.

Congress - The U.S. Congress has sent only 54 bills to President Barack Obama so far this year, including 14 to rename post offices, 9 to approve real estate transactions, and 6 to renew existing laws. That record puts the current Congress on track to be one of the least productive sessions in recent times. THUD! That would be me falling out of my chair at that shocking revelation. Truth be told, I'm surprised they were able to agree on that many.

Time - A new study used atomic clocks to confirm Albert Einstein's prediction that time runs faster the higher off the ground you are. For every foot about ground, a person ages about 90 billionths of a second (0.000000009) faster over a lifetime. Let's put some context to this, shall we? The average global life expectancy in 2010 was 67.2 years which equates to 2,403,043,200 seconds. Now, let's say that you choose to spent your entire lifetime in residence at the summit of Mount Everest (elevation 20,029 ft). Well, my friend, you would be 2.6 ten thousands of a second older than the dude who decided to spend his lifetime at sea level. But maybe we aren't thinking big enough. What if terra firma just isn't your deal? Let's say you spend your lifetime on the International Space Station, with has an average orbit of about 230 miles (1,214,400 feet) about the earth. Well now we are talking about some serious aging, just over one hundredth of a second (0.01). Bottom line, well I'm not sure there is one. I probably lost the vast majority of you at that "90 billionths of a second" bit.

Olympics - Three days into competition at the 2012 Summer Olympics in London, medals have been awarded for 38 of 302 events. The People's Republic of China and the United States top the medal table with 17 medals apiece, though China has more gold (9 to 5). Japan (11), Italy (8) and France (7) round out the top 5. Host nation, Great Britain is tied for 10th with 3 medals, a silver and 2 bronze.

Did You Know? #4

How much of the U.S. tax dollar is spent on Healthcare?

In 2011, 23.7% of every tax dollar was spent on healthcare. The complete breakdown of 2011 taxpayer receipts (according to the White House) looks like this:

• National Defense - 24.9%
• Health care - 23.7%
• Job and Family Security - 19.1%
• Education and Job Training - 3.6%
• Veterans Benefits - 4.5%
• Natural Resources, Energy, and Environment - 2.0%
• International Affairs - 1.6%
• Science, Space, and Technology Programs - 1.0%
• Immigration, Law Enforcement, and Administration of Justice - 2.0%
• Agriculture - 0.7%
• Community, Area, and Regional Development - 0.5%
• Response to Natural Disasters - 0.4%
• Additional Government Programs - 7.9%
• Net Interest - 8.1%

In 2010, the breakdown was as follows:

• National Defense - 26.3%
• Health Care - 24.3%
• Job and Family Security - 21.9%
• Education and Job Training - 4.8%
• Veterans Benefits - 4.1%
• Natural Resources, Energy and Environment - 2.1%
• International Affairs - 1.7%
• Science, Space, and Technology Programs - 1.2%
• Immigration, Law Enforcement and Administration of Justice - 2.0%
• Agriculture - 0.8%
• Community, Area, and Regional Development - 0.5%
• Response to Natural Disasters - 0.4%
• Additional Government Programs - 2.4%
• Net Interest - 7.4%

What Caught My Eye Today - Mitt Romney's plan for jobs and economic growth

Fred's Note: It occurs to me that in recent posts regarding the upcoming U.S. Presidential election that I am guilty of doing the same thing as various media outlets by rendering opinions on statements that I may have taken out of context. To be fair, I'm not a professional journalist and doubt very much that my blog will ever reach the critical mass that the New York Times does. However, the information is readily available to anyone who truly wants to make an informed decision come Election Day in November. With that in mind, over the next several days and weeks, I'll be posting excerpts from the websites of both the Republican presidential candidate, Mitt Romney and the incumbent Democratic candidate, Barack Obama. It goes without saying that I will be adding some color commentary, but the content will be from the candidates themselves.

First up, Mitt Romney's plan for jobs and economic growth.

Fostering job creation through economic growth will be Mitt Romney's top priority from his first day in office. Romney plans to introduce 5 bills on his first day in office:

• The American Competitiveness Act: Reduces the corporate income tax rate to 25%
  Given that the U.S. has the distinction of having the highest corporate income tax rate on the planet (39.2%), this sounds like a good idea. However, what Romney neglects to say is that Obama has a similar proposal to cut the corporate tax rate (though only to 28%) and that even if this tax cut goes through, the U.S. will continue to have one of the highest corporate tax rates in the world, so it is not exactly clear to me just have much of any impact this will have one way or the other. I suspect not much, but it sure sounds good, don't it?
• The Open Markets Act: Reinstates the president’s Trade Promotion Authority to facilitate negotiation of new trade agreements.
  Pretty much every President, regardless of party affiliation wants this authority. Basically, this legislation allows the President to expedite the implementation of free trade agreements, like the ones Obama signed with Panama, Colombia and South Korea. So good luck with that, Mr. Romney. Unless the Republicans take control of the Senate, Romney will face the same obstacle that Obama has. Oh, didn't you know? Obama tried to renew the bill but got rejected by the Senate.
• The Domestic Energy Act: Directs the Department of the Interior to undertake a comprehensive survey of American energy reserves in partnership with exploration companies and initiates leasing in all areas currently approved for exploration.
• The Retraining Reform Act: Consolidates the sprawl of federal retraining programs and returns funding and responsibility for these programs to the states.
  I'm sure there is a "drill, baby, drill" reference in here, someplace. Here's the thing. Domestic oil production is at a 10 year high as are stockpiles, not that gas prices reflect that (which is where I suspect, Romney is going with this). Most experts agree that supply is not as much of a factor as speculation when it comes to the price of oil.
• The Down Payment on Fiscal Sanity Act: Immediately cuts non-security discretionary spending by 5%, reducing the annual federal budget by $20 billion.
  A whole $20 billion? Whoop-de-do! That amounts to just over 1.5% of the 2012 budget deficit. Way to reach for the stars, big man.

Tax Policy: Romney will hold the line on individual income tax rates and eliminate taxes on interest, dividends, and capital gains for low- and middle-income taxpayers. He will eliminate the estate tax. He will immediately lower the corporate income tax rate, and then explore opportunities to further lower the marginal rate while broadening the tax base. He will also begin the process of transitioning to a territorial corporate tax system. A territorial system must be designed to encourage multinational companies to bring their profits back into the U.S. and it must avoid the creation of incentives for outsourcing. Great news for all of lower and middle-class working class stiffs who lie awake at night trying to figure out how to shield their stock portfolios and inheritances from the big bad tax man. And don't even get me started on which off shore tax havens I should set my my "blind trust" in.

Regulatory Policy: As president, Romney will work to repeal laws like Obamacare and Dodd-Frank that have given bureaucrats unprecedented discretion to craft unpredictable, job-killing regulations. Romney will also initiate the immediate review of all Obama-era regulations with the goal of eliminating any that unduly burden the economy and job creation. he will impose a regulatory cap on all agencies at zero dollars, meaning that an agency issuing a new regulation must go through a budget-like process and identify offsetting cost reductions from the existing regulatory burden. Other initiatives in a Romney Administration will include a new, cost-conscious approach to environmental regulation; an increased role for Congress in the approval of new regulations; and reforms to the legal liability system. So in a nutshell, if it is in any way connected to the Obama administration, it must be bad for business, stupid, illegal or some combination of all three. But hey, at least Romney is applying the same standard for everything.

Trade Policy: Romney will work to open foreign markets for American goods and services on terms that work for America. Romney will submit pending Free Trade Agreements to Congress, conclude the Trans-Pacific Partnership negotiations, and seek Trade Promotion Authority to pursue new trading relationships. He will also create the "Reagan Economic Zone," a multilateral trading bloc open to any country committed to the principles of open markets and free enterprise. Romney will also ensure that existing trade agreements are enforced. Romney will seek to build a constructive relationship with China on the basis of mutual respect, while also making clear that the United States will no longer tolerate Chinese practices that unfairly benefit their economy at the expense of ours. Yeah, I think we covered this already. I suppose, if Romney wins in November, that all this idyllic hyperbole (wishful thinking seems a bit harsh), won't really matter in the giant scheme of things.

Energy Policy: Romney will pursue an energy policy that puts conservative principles into action: significant regulatory reform, support for increased production, and a government that focuses on funding basic research instead of chasing fads and picking winners. Romney will streamline federal regulation of energy exploration and development so that the government acts as a facilitator of those activities instead of as an obstacle to them. He will significantly expand the areas available for energy development, including in the Gulf of Mexico, the Outer Continental Shelf, Western lands, and Alaska. He will strengthen partnerships with Canada and Mexico to expand opportunities for American companies in the development of those nations’ resources. And he will encourage continued development of unconventional reserves like shale gas and oil that hold enormous promise for expanding the base of U.S. reserves. Here's a fun fact. If you substitute Obama everyplace you see Romney's name, you pretty much have the same energy policy.

Labor Policy: Romney will protect the worker rights and employer flexibility crucial to innovation, economic growth, and job creation. His first step in improving labor policy will be to ensure that our labor laws create a stable and level playing field on which businesses can operate. Romney will seek amendments to the National Labor Relations Act that protect free enterprise, free choice, and free speech. The Act must be amended to ensure that it does not allow the National Labor Relations Board to constrain companies in their investment decisions. I don't profess to know squat about labor relations and, to be honest, I'm not sure the need for unions is the same as it was when they first came into being. The workplace has evolved a bit since 1827. However, I find it curious that in one breath, Romney says he will protect worker rights and in the next he plans to gut one of the organizations whose sole purpose is to do just that. And another thing, since when have worker rights and employer flexibility ever been in alignment?

Human Capital Policy: Romney sees two important objectives that America can pursue immediately to build on the extraordinary traditional strengths of its workforce. The first is to retrain American workers to ensure that they have the education and skills to match the jobs of today’s economy. The second is to attract the best and brightest from around the world. Romney will focus retraining efforts on a partnership that brings together the states and the private sector. Romney will also press for an immigration policy that maximizes America’s economic potential. He will raise the ceiling on the number of visas issued to holders of advanced degrees in math, science, and engineering who have job offers in those fields from U.S. companies and will also work to establish a policy that staples a green card to the diploma of every eligible student visa holder who graduates from an American university with an advanced degree in math, science, or engineering. That comment I made about Romney's Energy Policy above by and large applies here too.

Fiscal Policy: Romney will immediately move to cut spending and cap it at 20% of GDP and to cut non-security discretionary spending by 5%. He will also work to reform Medicaid, converting it to a federal block grant administered by the states, and he will provide the leadership necessary to make progress in reforming other entitlement programs. He will undertake a fundamental restructuring of the federal government that places the burden on the federal agency to establish why a program or service must be provided at the federal level and gives to the private sector and the states whatever functions they can perform more effectively. Finally, he will pursue a Balanced Budget Amendment. Yeah, yeah. Good for you.

Should you wish to draw your own conclusions, I applaud you. Here's where you need to go (click here). Next time we'll see how Barack Obama's plan measures up.

What Caught My Eye Today - Poverty, Olympics, Berlin

Poverty - An Associated Press survey found the official U.S. poverty rate will rise from 15.1% percent in 2010 to as high as 15.7% in 2011, the highest level since 1965. Among the survey findings:

• Poverty will remain above the pre-recession level of 12.5% for many more years.
• Suburban poverty, already at a record level of 11.8%, will increase again in 2011.
• Part-time or underemployed workers, who saw a record 15% poverty in 2010, will rise to a new high.
• Poverty among people 65 and older will remain at historically low levels, buoyed by Social Security cash payments.
• Child poverty will increase from its 22% level in 2010.
• The poorest poor, defined as those at 50% or less of the poverty level, will remain near its peak level of 6.7%.

It's a shame that the one bright spot in all this--Social Security--is headed for insolvency. But that is not the most discouraging thing. Nor is the fact that none of these statistics come as much of a surprise. To me, the biggest tragedy here is that neither of the candidates for President seem to have the slightest interest in talking about how they plan to tackle this issue.

Olympics - Guor Marial, a South-Sudanese refugee qualified for the Olympics last October after meeting the Olympic "A" standard with a run of 2 hours, 14 minutes and 32 seconds at the 2011 Twin Cities Marathon. The International Olympic Committee (IOC) requires athletes to be full citizens of the countries they represent. Though Marial has lived in the U.S. for 11 years, he has yet to gain full citizenship and his status as a permanent resident isn't enough to allow him to wear red, white and blue at the games. Marial was born in what is now the Republic of South Sudan, a newly independent country without a National Olympic Committee, an IOC requirement for nations to be able to compete in the games. I appreciate the fact that without rules there would be chaos, but still, you have to feel for this poor guy. With no country to represent, Marial petitioned the IOC to run as an independent participant under the Olympic flag. Just days before the Games begin, Marial found out the IOC will allow him to run in the Olympic marathon as an independent participant under the Olympic flag. I don't imagine I will have much to praise the IOC about in the coming days, but they did the right thing here. Bravo.

Olympics - Incidentally, although the Games don't officially begin for two more days, competition is already underway in soccer stadiums across the United Kingdom as women's group play commenced. For those of you who keep track of stuff like this, early results include: Great Britain 1 - 0 New Zealand; Canada 1 - 2 Japan; France 2 - 4 United States; and Brazil 5 - 0 Cameroon.

Berlin - By far, the most amusing news item I've read in a long, long time. The sleepy hamlet of Mittenwalde in eastern Germany could become one of the richest towns in the world if Berlin were to repay it an outstanding debt that dates back to 1562. A certificate of debt, found in a regional archive, attests that Mittenwalde lent Berlin 400 guilders on May 28 1562, to be repaid with six percent interest per year. How much could that possibly amount to?. The debt would amount to 11,200 guilders today, which is roughly equivalent to 112 million euros. That doesn't seem so bad. Adjusting for compound interest and inflation, the total debt now lies in the trillions. Halt deine Fresse! The debt-laden German capital would have difficulty meeting Mittenwalde's demands anyway. According to a report released by the senate finance administration in June 2012, Berlin is already close to 63 billion euros in the red. Indeed. I don't know about you, but if I'm a Berliner and some wichser from Mettenwalde came looking for payback, I might feel compelled to say, "fahr zur holle" (Fred's note: Assume it's funny. Trust me, it's not worth the effort to translate).

Did You Know? #3

What do the following have in common? Beef Production, Cement Work, First Aid to Animals, Hog and Pork Production, Nut Culture, Rabbit Raising, Stalking.

These are merit badges formerly offered by the Boy Scouts of America. In some cases, the entire subject has been dropped from the merit badge roster. In others, the merit badge's name has been changed, with or without significant revision to the badge's requirements. At the start of 2012 there were 129 merit badges, with another 5 expecting in the next couple of years: Search and Rescue, Programming, Game Design, Animation and Signs, Signals & Codes. Click here to see the complete list of current merit badges.

What Caught My Eye Today - Olympics, PACs and Canada

Olympics - For those of you living under a rock or otherwise preoccupied, the 2012 Summer Olympics kick off this Wednesday, with some preliminary soccer matches in advance of the official opening ceremonies this Friday.  So, on one hand you'll see a lot more postings on this topic than usual, but on the other, I promise that most of my stuff probably won't make the scant 3500 hours of coverage, our friends at NBC will be offering (more on that in a moment). To wit, I give you this first little gem on the ultimate underdog nation. Bangladesh is home to more than 152 million people, making it the eighth most populated country in the world, yet its Olympic futility is so bad it makes one wonder if a statistical mistake has been made. Bangladesh has never won a single medal at the Olympic Games and is unlikely to do anything to change that tortured record over the next few weeks. Of the International Olympic Committee's 204 members, 80 have never medaled. Many of the nations are tiny by comparison, although Myanmar (the world's 25th most populated country) and Nepal (45th) are also on the medal-free list. Meanwhile, Tonga (195th in population) has an Olympic silver, Barbados (181st) a bronze and Iceland (178th) two of each. The Bahamas, ranked 177th, has excelled with 10 total medals, four of them gold. Perhaps most extraordinary about Bangladesh is not its dearth of medals, but that it has never had an athlete qualify for an Olympics based on performance in competition. Every one of the country's representatives, stretching back to 1984, has been courtesy of the IOC's wildcard system, devised to assist competitors from nations low on the international sports pecking order. That is the case again for London, where a four-strong Bangladesh team featuring an archer, a gymnast, a shooter and a swimmer will march in the Opening Ceremony, all of them thanks to the wildcard allotment. Kind of makes you hope that one of these wildcards can somehow manage to make it beyond the first round. Not likely, but one can always hope. So 3500 hours, huh? I did some checking and if you take 17 days of competition multiplied by 24 hours, that gives you 408 hours or roughly 12% of the 3500 hours of boob tube coverage that NBC is offering. That's a lot of coverage...which is my way of transitioning to this next item.

Television - Binge viewing is transforming the way people watch television and changing the economics of the industry. The passive couch potato of the broadcast era turned into the channel surfer, flipping through hundreds of cable channels. Now, technologies such as on-demand video and digital video recorders are giving rise to the binge viewer, who devours shows in quick succession, episode after episode, season after season. Ain't technology grand? And how about that advanced civilization we are all so proud to be part of. We've evolved from mere couch potatoes to hardcore bingers. Way to go, team. Brain chemistry plays a role in bingeing. Viewers identify with characters on screen and subconsciously begin to mimic their emotions—be it sadness or triumph or anxiety, and each emotional state triggers different brain chemicals, which linger. The urge to sustain that inner experience leads you to press "play" on the next episode, and the one after that, the equivalent of the book you can't put down. Longer, uninterrupted viewing sessions can lead to a deeper virtual-reality experience of the narrative. It can seem more real, from a neurological point of view. I'm going to go off the reservation, just this once and suggest a couple of remedies for those of us suffering from binge viewing. Option 1, read a book; option 2, go outside and get some fresh air; option 3, get a life, you degenerate blight on humanity!

Political Action Committees (PACs) - 0.000063 percent of the United States' population, 196 super wealthy people, have given more than 80 percent of the Super PAC money spent in the current U.S. presidential election. Freedom of speech or buying an election? I guess it is all a matter of perspective.

Olympics - For the first time in history, the U.S. Olympic team will have more female athletes competing than males in this summer's Games in London. The 530 member team consists of 261 males and 269 women. First time for everything, right?

Canada - The average Canadian is now richer than the average American. The net worth of the average Canadian household in 2011 was $363,202, while the average American household had a net worth of $319,970. I never liked those Canadians; they talk funny.

What Caught My Eye Today - Colorado, Warner Bros., Syria

Colorado - I bet if you asked most Coloradans they would be hard press to recall a month as lousy as July has been. Half state got ravaged by firestorms and if that's not enough, some whack job takes completely takes leave of his senses in the middle of a packed movie theater. A gunman in a gas mask and body armor killed 12 people at a midnight premiere of the new "Batman" movie in a suburb of Denver early on Friday, opening fire on moviegoers after hurling a gas canister into the theater. Armed with an assault rifle, a shotgun and a pistol, he wounded 59 others with gunfire during a screening of "The Dark Knight Rises" at a mall in Aurora. Arriving on the scene within 90 seconds of the first emergency calls, police immediately took into custody the suspect in a parking lot behind the cinema, where he surrendered without a fight. President Barack Obama and his Republican presidential rival, Mitt Romney, toned down their campaigns, pulled their campaign ads from Colorado and dedicated their scheduled events to sympathy for the victims. I am generally an optimist. Sure, my sense of humor is a bit twisted, but I really am a glass half-full sort of guy. Then something like this happens. I cannot help but wonder what sort of world we live in where someone has the capacity and will to commit such an atrocity. However, I'm confident this feeling will pass as the survivors of this tragedy show us all what it means to get back on their feet and get on with the business of living. See...glass half full. Warner Bros. - The midnight screening of "The Dark Knight Rises," of one of the most anticipated films in years became enmeshed with a horrifying tragedy. The shooting reverberated through Hollywood and upended carefully laid plans for the global release of "The Dark Knight Rises."

Warner Bros. quickly canceled a premiere planned for Paris and canceled press interviews in France. "Warner Bros. and the filmmakers are deeply saddened to learn about this shocking incident," read a statement from Warner Bros. "We extend our prayers and deepest sympathies to the victims, their loved ones and those affected by this tragedy." I cannot imagine a worse nightmare scenario for a movie opening than this. It almost makes you feel sorry for the guys in the corner office...almost.

Syria - What a mess. The Syrian uprising, also referred to as the Syrian civil war, is an ongoing internal armed conflict in Syria. It began in March 2011 with public demonstrations as part of the wider Arab Spring and developed into a nationwide uprising. Protesters have demanded the end to nearly five decades of Ba’ath Party rule, as well as the resignation of Bashar al-Assad. On July 15, the International Committee of the Red Cross assessed the Syrian conflict as a "non-international armed conflict" (the ICRC's legal term for civil war), thus applying the international humanitarian law under the Geneva Conventions in Syria. According to various sources, including the United Nations, between 18,925 and 50,170 people have been killed, of which about half were civilians. Thousands of protesters have been imprisoned, and there have been reports of widespread torture in the government's prisons. International organizations have also accused the government and Shabiha of using civilians as human shields, and of intentionally targeting civilians. The U.N. refugee agency said between 8,500 and 30,000 Syrians had entered Lebanon in the past 48 hours, and thousands of Iraqis have also returned home, a bitter trip for many who fled to Syria from their own country's civil war. Jeez. Some people just cannot catch a break. The U.N. refugee agency estimates that some 120,000 Syrian refugees were in neighboring countries and another 1 million were displaced inside Syria. Note to self: glass half full, glass half full, glass half full...

Did You Know? #2

What do Helium, Neon, Argon, Radon, Xenon and Krypton have in common?

They are noble gases. Noble gases are a group of chemical elements with very similar properties: under standard conditions, they are all odorless, colorless, monatomic gases, with very low chemical reactivity. The abundances of the noble gases in the universe decrease as their atomic numbers increase. Helium is the most common element in the universe after hydrogen. The prices of the noble gases are influenced by their natural abundance, with argon being the cheapest and xenon the most expensive. Noble gases have very low boiling and melting points, which makes them useful as cryogenic refrigerants. Noble gases are commonly used in lighting because of their lack of chemical reactivity. Argon, mixed with nitrogen, is used as a filler gas for incandescent light bulbs. Some noble gases have direct application in medicine. Helium is sometimes used to improve the ease of breathing of asthma sufferers. Xenon is used as an anesthetic because of its high solubility in lipids, which makes it more potent than the usual nitrous oxide, and because it is readily eliminated from the body, resulting in faster recovery. Radon, which is highly radioactive and is only available in minute amounts, is used in radiotherapy.

What Caught My Eye Today - Healthcare, Supreme Court, Citizenship

Healthcare - Alaska's Governor Sean Parnell announced his state will not set up a program allowing residents to buy health insurance across state lines as envisioned under the Obama administration's new healthcare law, leaving that task to the U.S. government. Parnell said it is too expensive for the state to set up an insurance-exchange program, as required by the Patient Protection and Affordable Care Act, and that the federal government should bear the responsibility of creating and running the exchange. Bear in mind that this is the same state that in 2011 sent $1174 checks to every one of its residents as a result of Alaska's vast oil wealth. But I digress. Under the healthcare law, states must have insurance exchanges in place by 2014. If states decline to set up their own exchanges, the federal government will establish an exchange. Alaska, at Parnell's direction, was one of the states that sued to overturn the healthcare law. The U.S. Supreme Court last month upheld the U.S. healthcare overhaul, but allowed states to opt out of the provision to expand the Medicaid program for the poor, which is jointly funded by federal and state governments and represents the biggest spending item in most state budgets. Five Republican governors (Wisconsin, Florida, Louisiana, Texas and Alaska) have said publicly they will refuse the broader eligibility criteria that aims to provide insurance to an additional 16 million Americans nationwide.I know we haven't heard to last of this debate, not by a longshot. But I wonder, is it really the interests of the citizens that these governors are basing their decisions on or something more...oh, I don't know...maybe something more political?

Supreme Court - Justice Antonin Scalia said he hasn't had a "falling out" with Chief Justice John Roberts over the Supreme Court's landmark 5-4 decision validating much of President Barack Obama's health care overhaul. Isn't that nice? One less thing to worry about. The Supreme Court earlier this month upheld much of Obama's signature health care law, with Roberts siding with the court's liberals to uphold the hotly debated core requirement that nearly every American have health insurance. The decision allowed the law to go forward with its aim of covering more than 30 million uninsured Americans. Since then, Roberts has been the focus of derision from some of the nation's leading conservatives, and there have been reports of fractures in the relationships on the court's conservative wing, of which Roberts and Scalia are members. Scalia emphasized "the court is not at all a political institution" and said he believed "not a single one" of his Supreme Court colleagues considers politics when making decisions at the court. "I don't think any of my colleagues on any cases vote the way they do for political reasons," he said. "They vote the way they do because they have their own judicial philosophy." I want to believe Justice Scalia, I really do. Perhaps I've just become too jaded to accept his assertion as absolute truth. I happen to agree with the Roberts decision and think his rational was spot on. That said, I think Roberts was motivated by something much bigger than this one opinion. Roberts believed that the integrity of the Supreme Court was at risk and he needed to do something to "stop the bleeding" so to speak. Perhaps that is not political motivation, but it certainly goes far beyond judicial philosophy.

Citizenship - Members of Maricopa County Sheriff Joe Arpaio's posse said in March that there was probable cause that Obama's long-form birth certificate released by the White House in April 2011 was a computer-generated forgery. Posse? Really? Now, Arpaio says investigators are positive it's fraudulent. Of course they are. The Arizona posse's chief investigator said numeric codes on parts of the long-form birth certificate indicate those parts weren't filled out, yet those sections asking for the race of Obama's father and his field of work or study were completed. So-called "birthers" maintain Obama is ineligible to be president because, they contend, he was born in Kenya. Seriously, guys, the dude has been in office for almost 4 years. You need to get over this. However, Hawaii officials have repeatedly verified Obama's citizenship, and courts have rebuffed lawsuits over the issue. The Obama campaign declined to comment on Arpaio's allegations. No doubt because they have their hands full playing tit-for-tat with the Romney campaign. But a special assistant to Hawaii's attorney general, said his state's vital records are some of the best-managed and have "some of the strongest restrictions on access to prevent identity theft and fraud." In a other news regarding Sheriff Joe... A civil trial is set to begin this week in a lawsuit that accuses Arpaio's office of racially profiling Latinos. The suit is a precursor to a U.S. Justice Department lawsuit that alleges a broader range of civil rights violations against Arpaio's office. I'm sure these two stories have nothing to do with the other.

What Caught My Eye Today - Political Campaigns, Globetrotting, Supreme Court and the Kilogram

Political Campaigns - John Sununu, a top surrogate to Mitt Romney's presidential campaign, issued a withering attack against President Barack Obama accusing him and his campaign of being "a bunch of liars" for their attacks on the presumptive GOP nominee. Is it just me or can you not say Sununu without giggling just a little bit? Obama's campaign is on record for suggesting Romney might have committed a "felony" for misstating his role at Bain Capital back in 1999. Sununu issued a nearly equal counterpunch, telling reporters Obama "comes out of that murky political world in Chicago where politician and felony has become synonymous." Sununu added, "I am shocked that the president introduced the word 'felon' into the political discourse." That's the ticket. Rather than take the high road, why don't we just pile on the hyperbole. What are we...like five? Later Sununu said, "I wish this president would learn how to be an American." When asked to clarify what he meant by that statement, Sununu explained he only meant that he wished Obama would adopt the "American formula" for creating businesses and introducing an environment where "entrepreneurs can thrive." I'm sort of surprised he didn't trip over himself what with all that backpedaling. When asked to respond to Sununu's statements, a spokeswoman for the Obama campaign said the Romney campaign "has officially gone off the deep end." Does this sort of remind you of that time in first grade on the playground when Sally called Tommy a "poo-poo head" and Tommy replied by saying "I know you are, but what am I?" Christ, it's not even August yet. We still have almost 5 more months of this nonsense.

Globetrotting - Since becoming secretary of state in 2009, Hillary Clinton has logged 351 days on the road, traveled to 102 countries and flown a whopping 843,839 miles, according to the State Department. So like are those anytime miles or are they subject to blackout periods? Clinton just completed a 13-day journey of 27,000 miles (about 2,000 miles more than the circumference of the Earth) visiting France, Afghanistan, Japan, Mongolia, Vietnam, Laos, Cambodia, Egypt and Israel. Damn. She got more stamps in her passport in one trip than I have in my entire life. Clinton broke the previous record last month, eclipsing Madeleine Albright's total of 98, when she traveled to Finland for number 99 and then hit the 100 mark in Latvia. You know, it is sort of a shame that Hillary is already on record as saying she won't sign on for a second stint as Secretary of State should Obama win a second term. She certainly seems to have a knack for it. I wonder what she's going to do with all that free time? Then again...2016 is only 4 short years from now.

Supreme Court - Here's a shocking revelation from our friends at Gallup.The recent U.S. Supreme Court ruling on the Affordable Care Act, anchored by Chief Justice John Roberts' majority opinion, has apparently caused a major shift in Republicans' and Democrats' views of both the court and Roberts. Whereas Republicans were initially highly favorable toward Roberts in 2005, when he was considered a conservative justice appointed by a conservative Republican president, their opinions are now more negative than positive. Democrats, initially evenly split in their views of Roberts, now appear to be big fans, with a +35 net favorable over unfavorable rating. Wow. I'm stunned. The guys that Roberts sided with like him more than they did while the other guys like him less. Who would have thought such a thing possible? Seriously, we needed a poll for this?

Kilogram - We Americans mock the metric system more than we probably should. After all, we are one of the few countries that does not use this as our primary system of measurement. That said, maybe that isn't such a bad thing. Turns out, all is not well in the metric world. Hidden in a vault outside Paris, vacuum-sealed under three bell jars, sits a palm-sized metal cylinder known as the International Prototype Kilogram, or "Le Grand K." That's right, this is no ordinary K; it's Le Grand K. I love the French. Forged in 1879 from an alloy of platinum and iridium, it was hailed as the "perfect" kilogram, the gold standard by which other kilograms would be judged. Not to split hairs, but if its made of platinum and iridium, shouldn't it be called the platinum-iridium standard? Gold just seems to cheapen it, don't you think? At its most recent weigh-in in 1988, it was found to be 0.05 milligrams—about the weight of a grain of sand, lighter than its underling replicas. If you are anything like me, your reaction to this story can probably be summed up in two words--Who cares? Turns out this is sort of a big deal. It’s bad news when your standard is no longer standardized. While no one’s worried whether a single kilogram of apples is a hair lighter or heavier at the produce stand, a small discrepancy can become a gargantuan one if you’re dealing with, say, a whole tanker of wheat. The kilogram is also used as a building block in other measurements. The joule, for instance, is the amount of energy required to move a one-kilogram weight one meter. The candela, a measure of the brightness of light, is measured in joules per second. If the kilogram is flawed, so are the joule and candela, which could eventually cause problems in an array of industries, particularly in technology. Hold the phone. You're not telling me that Le Grand K is going to screw with the Privacy Settings on my Facebook account? That crap is already hard enough to manage. Forget what I said earlier. I hate the French.

What Caught My Eye Today - Norway, Political Campaigns, Olympics and the Tour de France

Norway - Norway's government invoked emergency measures to order striking oil workers to return to their jobs. More on why they were on strike in a moment. After two weeks without progress, the government ordered the unions into arbitration, and forbade any further work stoppages for two years. The strike cut Norway's oil production by 13%, sending the international price to more than $101 a barrel. As of this posting, the price of oil was just shy of $89, so I guess things have settled down on that front. I find myself conflicted whenever I read about labor disputes such as this. On one hand, I fully support the workers' right to look after themselves as a collective body, after all, if the 1% can look after its interests why shouldn't the rest of us? But then, you see what these guys are on strike for. It seems these oil workers are looking to retire will full pensions at age 62, five years earlier than Norway's general population. And, by the way, Norwegian oil workers are the highest paid in the global oil industry, working 4 months annually and earning an average of $180,000. I will readily admit that I have no clue how demanding off shore oil drilling is. I'm sure it is rather unpleasant. However, it is sort of hard to muster up much sympathy for a group of workers already at the top of their food chain.

Political Campaigns - You all better sit down for this next one. It seems we have accusations of dishonesty related to this year's U.S. presidential race. Yeah, I know. How rare is this? Mitt Romney accused President Barack Obama of running a campaign based on "falsehood and dishonesty" and brushed aside suggestions, including from some Republicans, that he should release more years of tax returns, arguing it would only give more ammunition to the Obama campaign. Romney lashed out at the Obama team's "dishonest" attacks on his business record, but the president again questioned his rival's credentials and Democrats repeated charges that the Republican flag-bearer may have committed a felony over his Bain Capital disclosures. Romney maintains he quit the day-to-day running of Bain in February 1999 and was not making the decisions when companies it owned subsequently laid off US workers and "outsourced" jobs to plants in Mexico and China. But a recent Boston Globe report revealed that filings with the Securities and Exchange Commission still listed him as Bain's chief executive between 1999 and 2002. Doesn't it make you all warm and fuzzy inside that the next leader of the free world has time to engage is this sort of nonsense? First to Romney. Dude, grow a freaking backbone already. You don't see Obama whining about the unsubstantiated claims that Glenn Beck and Rush Limbaugh have made up to fill their airwaves, have you? As for the President. Sure, all things are fair in love, war and politics, and obviously, this story is putting Romney on the defensive...but that doesn't make it right. I have an election to win, I get that. I was just sort of hoping you wouldn't have to resort to the same tactics as the other guys.

Olympics - The dominance of the United States for much of modern Olympic Games history has continued unabated, with Americans enjoying some level of success in virtually every sporting discipline. I sense a "but" coming up here. Yet there are three events coming up in London this summer where the U.S. has drawn a complete blank, with no medals won, by men or women, in any Olympics. Ever. And there it is. While American athletes have been largely unrivalled on the track, in the pool and on the basketball court, the Star Spangled Banner has never been hoisted to celebrate overall glory or even a top three finish in badminton, table tennis or handball. Clearly, the guys at the International Olympic Committee just don't get it. It's not really a sport if the U.S. isn't good at it. Don't believe me? I bet you if we showed the sort of dominance that Spain has over the past few years, soccer would enjoy a lot more popularity than it does now.

Tour de France - And finally, a glimmer of hope that sportsmanship and fair play are not dead yet... An appalling act of sabotage from an unidentified person in the crowd lining the road at the Tour de France triggered an extraordinary display of sportsmanship from some of the leaders of the race. Carpet tacks were strewn across the road at the summit of the final climb in Sunday's stage, causing defending champion Cadel Evans and more than 30 other riders in the peloton to suffer tire punctures. Overall race leader Bradley Wiggins decided to slow the pace over the final 25 miles of the race to allow him to catch up. Wiggins could have used Evans' misfortune as an opportunity to all but eliminate one of his chief adversaries in this year's Tour, but instead he and the rest of Team Sky eased their tempo and encouraged the rest of the peloton to follow suit. As a result of the sportsmanship of Wiggins and the other leaders, Evans remains in the same position he was entering the day — fourth overall and 3:19 out of first place. Skeptics will probably argue that Wiggins waited because no one in front of him threatened his overall position in the race. Boyfriend is, in all likelihood going to win the Tour de France regardless of what he did yesterday, but that is beside the point if you ask me. Yes, there is always a winner; that's the nature of athletic competition. But every once and a while sport produces a moment that transcends winners and losers. This was one of those moments and should be celebrated. Cheers, Bradley. Well done.

Did You Know? #1

Fred's Note:  I used to publish weekly polls sharing fun little tidbits that I would come across. It was pointed out to me, that once I published a new question, no one could see previous questions.  So with that in mind, some of my posts will be fun facts.  Hope you enjoy the new format.

What to do the following grape varietals have in common: Cabernet Sauvignon, Chardonnay, Chenin Blanc, Gewurztraminer, Merlot, Pinot Noir, Riesling, Sauvignon Blanc and Syrah?

They are also known as the noble grape varieties. The phrase "noble grape" is a classical term used to describe the grapes traditionally associated with the highest quality wines. Noble grape is not as commonly used today as the more modern term "international variety" which denotes a grape variety that is widely planted in most of the major wine producing regions and has widespread appeal and consumer recognition.

What Caught My Eye Today - Wealth in America

The Occupy Wall Street movement claims that it represents the 99%. One of the biggest issues, if not the biggest, that will dominate the upcoming presidential election is the state of the US economy and, by extension, concerns about the widening wealth gap among the citizenry. I'm not suggesting that the United States is in imminent danger of an 'American Spring' but all of these headlines got me to thinking, who exactly are the 1%, do they really have an unfair advantage and finally, is that advantage really that damaging?

First, let's see if we can determine who the 1% are. This is a bit tricky because you have to decide what top you wish to measure and then the criteria by which you determine represent the top 1% and who doesn't.  For purposes of this particular rant, I have chosen to measure the top 1% of wealth as determined by household income. The statistics that I cite are based on publicly available information collected primarily by our friends at the Internal Revenue Service in the form of tax returns. Based on 2009 tax returns, you needed to report an adjusted gross income of $343,927 to make it into the top 1%, which 1.4 million taxpayers did. To provide some context, to make it into the top 50%, you needed to earn $32,396.

Having identified our top 1%, let's see just how much those rat bastards are sticking it to the rest of us. Using 2009 tax returns as our basis for comparison, the top 1% reported 17% of all income in 2009 while the top 50% reported 87% of all income earned.  For those of you who aren't that good at math, that means roughly half off all income earners reported just 13% of the total income reported in 2009. Now, before we draw any hasty conclusions, perhaps we should get some insight into the other side of the equation--is the top 1% paying it's fair share of taxes? In 2009, the top 1% paid 37% of the taxes collected and the top 50% accounted for 98% of total tax revenue.  It would seem, based strictly on this metric that the top 1% is paying it's fair share...and more. Therein lies the problem. Using a very narrow measure, one can draw broad conclusions, often to support a position that may not take into account the "whole picture". But that is a rant for another day.

Let us assume, that the top 1% does, in fact, have some sort of advantage over the 99% (as I see it, this is not exactly a huge leap of faith). Let us also assume that this advantage manifests itself as a wealth gap between the top 1% and the other 99%.  Is this wealth gap growing and if so does it pose a threat to baseball, hot dogs, apple pie and Chevrolet (I'm dating myself a bit here by making a reference to a kitchy little jingle the guys at Chevrolet came up with a few decades back to tie their cars to all things American)? We'll start by trying to quantify the wealth gap between the top 1% and everyone else.  If we consider net worth (the value of everything a person or family owns, minus any debts), the wealth gap hasn't varied that much over the past several years. In 1983, the top 1% accounted for 33.8% of wealth distribution compared with 34.6% in 2007. Not a huge variance, if you ask me. Even if you take the home out of the net worth equation, which for most of us is the biggest contribution to our net worth, the numbers tell basically the same story. In 1983, the top 1% held 42.9% of the wealth compared with 42.7% in 2007. So far, it seems that the wealth gap hasn't changed much, but are we missing something?

Yeah...we are.

As it turns out, most of us have no idea that wealth distribution is as concentrated as it is. Stunning, right?  Popular opinion indicates that most of us think the top 20% control about 60% of wealth when, in reality the percentage is about 85%. And when it comes to the bottom 40%, we think that the amount of wealth is about 10%; it's closer to 0.3%. Clearly, there is a disparity, or gap if you will. between the top and bottom. Interestingly, when asked to define an ideal wealth distribution, those surveyed thought the top 20% should have 30 to 40% of wealth and the bottom 40% should have 25 to 30%. So even in an "ideal" world we think there will be a wealth gap of some significance. Not nearly what it currently is, but a gap nonetheless.

I won't bore you with all of the analysis; trust me there is a lot out there. What it all boils down, in my mind, is a few not too surprising things. First, wealth and well-being are highly valued. Second, those who have the most goodies are the most powerful. Third, it is hard, really hard for the bottom 90%, to move up the power pyramid. Fourth, taxes don't have much of an impact on wealth redistribution.

Alright then. Time to bring this rant to closure.

Here's my take. We live in a society that rewards the "haves" over the "have nots". In and of itself, I don't see that as necessarily being bad. I think you should have some incentive or motivation to work hard and be rewarding appropriately for your efforts. However, it is my contention that such incentives are only effective if you have a level playing field. I would further argue that the playing field has been tilted to favor the "haves" much more than the "have nots". Herein lies the threat of damage. I started off by mentioning Occupy Wall Street and alluding to the Arab Spring.  Movements such as these, and heck you can include the TEA Party if you like, suggest a rising level of discontent driven by an underlying sense of inequality. Most people aren't looking for hand outs. All they want is a fair shot at achieving their American dream. For a good manner years we took this privilege for granted. As a result, there were some folks that seized upon the opportunity to secure a bigger pie of the pie for themselves. We've finally noticed that our slice is much smaller than it used to be. Statistics and analyses are great for pointing out what has happened and might even provides some insights as to why. Unfortunately, they cannot tell us what to do going forward. We need to figure that out for ourselves.

Run, Fred, Run Update

Fred's Note: It only took 3 years and 819 miles, but I finally made it out of Texas and into Louisiana!  Perhaps, I'll make it through the lovely Bayou State at a slight faster clip.

Check the Run, Fred, Run portlet on the side to see my progress to date.