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To: CalculatedRisk who wrote (60167)	5/3/2006 12:40:04 AM
From: shades	Read Replies (1) \| Respond to of 110194

Think Tanks Urge Big Shift In Pentagon Budget Plans (it worked for clinton eh?) WASHINGTON (Dow Jones)--A new policy report urges the Pentagon to cut its fighter plane, missile defense and major warship programs to free up more money for diplomacy and homeland security The report, prepared by a coalition of Democrat-leaning analysts, proposes a $61 billion cut in the 2007 defense and security budget, along with $52 billion in additions, for a total of $461 billion. Its authors say the changes would fund the military without shortchanging other goals. "We need to stop spending money on those weapons systems that do not advance national security," said Lawrence Korb of the Center for American Progress, a study co-author. The report was sponsored by the Center for Defense Information and the Foreign Policy in Focus analyst network. The task force timed its report to coincide with Wednesday's House Armed Services Committee markup of the 2007 Defense Department budget. It recommends slashing the F-22 Raptor stealth fighter, the F-35 Joint Strike Fighter, the DD(X) next-generation destroyer and other big-ticket programs. The authors would like to see more emphasis on port security, limiting the spread of weapons of mass destruction, and collaborating with foreign governments in overseas hot spots. "Although the Central Intelligence Agency has concluded that weapons of mass destruction are most likely to enter the United States by sea, we will spend four times more deploying a missile defense system that has failed most of its tests than we will spend on port security," the report said, according to an advance copy supplied to the media. -By Rebecca Christie, Dow Jones Newswires; 202-862-9243; rebecca.christie@dowjones.com (END) Dow Jones Newswires May 03, 2006 00:01 ET (04:01 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 12 01 AM EDT 05-03-06

To: CalculatedRisk who wrote (60167)	5/3/2006 12:53:22 AM
From: shades	Respond to of 110194

US Dems, GOP Stand Together On Voting Rights Act Renewal (calculated if you are too uneducated to read - that is not a good reason to stop you from voting eh? I would support many language voting - but if you cant read in any language how does one read your blogs and learn? Is a government voted in by unread, uneducated idiots the goal? I thought we wanted to get away from bush voters? :( WASHINGTON (AP)--Bilingual interpreters and foreign language ballots at polling places are becoming an issue in the reauthorization of the 1965 Voting Rights Act, legislation that has won rare election-year agreement between Republicans and Democrats. A group of conservatives say some portions of the act are outdated, including provisions requiring bilingual interpreters and ballots in several languages. But in a rare shoulder-to-shoulder show of unity, leaders of both parties pledged to push the renewal past the opposition this year in an effort to safeguard the right to vote. There was another reason the bill is headed for passage: Election-year politics. Republicans hope it will inoculate GOP candidates against charges of racism stemming from controversial proposals to overhaul immigration policy. Democrats believe it will energize minorities who are a major component of the party's base. Opponents are fighting a losing battle, said the leaders of both houses. "The train is out of the station," said Judiciary Committee Chairman James Sensenbrenner, D-Wis., the bill's sponsor in the House. He said he expects the House to approve the legislation by Memorial Day, leaving its passage to the Senate, where the Judiciary Committee is expected to convene hearings. The 1965 law sought to end racist poll taxes and literacy tests by putting Southern states, the worst offenders, under tighter guidelines than most other places. The legislation introduced Tuesday would renew the law for the first time in 25 years. Back in 1982, lawmakers thought discrimination at the polls would be stamped out by the 21st century, recalled Sen. Edward Kennedy, D-Mass. But breaches continue and were detailed in several House hearings on the subject. Sensenbrenner's bill would require jurisdictions to add bilingual ballots and offer bilingual assistance at polling places where large communities of people speak limited English. It also would renew a requirement that states and counties with a history of racial discrimination - from the South to New York City and certain areas of California - get federal approval to change their election laws. Despite the leadership power behind the proposal, opposition remains. More than 50 House Republicans wrote Sensenbrenner in February saying the requirements for bilingual interpreters and ballots in different languages "encourage the linguistic division of our nation and contradict the 'melting pot' ideal," they wrote. And on Tuesday, three GOP senators - John Cornyn of Texas, Jeff Sessions of Alabama and Tom Coburn of Oklahoma - asked Senate Judiciary Committee Chairman Arlen Specter, R-Pa., to slow the process to make sure any legislation would withstand a Supreme Court challenge. (END) Dow Jones Newswires May 02, 2006 19:15 ET (23:15 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 07 15 PM EDT 05-02-06

To: CalculatedRisk who wrote (60167)	5/3/2006 12:55:38 AM
From: shades	Respond to of 110194

MasterCard 1Q EPS $1.27 Vs 93c -2- . According to MasterCard's quarterly report, the increase in revenue was due to higher gross usage on cards carrying the company's brands for goods and services, a larger number of transactions processed by MasterCard, higher cross-border travel by cardholders using its cards, and certain pricing changes that went into effect on April 1, 2005. MasterCard said the pricing changes - implementation of new fees, increases in existing fees or modification of its fee-calculation methodology - accounted for around 5% of net revenue growth for the period. MasterCard also said it entered into a committed, three-year, unsecured $2.5 billion revolving credit facility with certain financial institutions. The facility, which expires April 28, 2009, replaced a $2.25 billion credit facility that was set to expire June 16, the company said. -By Antonie Boessenkool and Patricia Kowsmann, Dow Jones Newswires; 202-862-7139; antonie.boessenkool@dowjones.com (END) Dow Jones Newswires May 02, 2006 18:42 ET (22:42 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 06 42 PM EDT 05-02-06

To: CalculatedRisk who wrote (60167)	5/3/2006 12:59:12 AM
From: shades	Respond to of 110194

NY Gov Pataki Reopens Budget Talks For Biofuels Program . ALBANY, N.Y. (AP)--New York Gov. George Pataki said he would reopen limited budget talks with lawmakers to resurrect his idea of establishing alternative fuel pumps statewide for biofuels that could cost 50 cents per gallon less than gasoline. At another event, Assembly Speaker Sheldon Silver said he would be open to reopening budget talks. He wants to discuss the Legislature's proposals for rebate checks to taxpayers of about $400, welfare funds for summer jobs for youths and other issues vetoed by Pataki as unconstitutional. "We're not walking away, there are things we definitely want to discuss," said Silver spokesman Charles Carrier. "I would hope there would be opportunity to negotiate a package that would make new opportunities available to energy consumers," said Assembly Energy Committee Chairman Paul Tonko, a Montgomery County Democrat. He said he has sponsored several bills, some dating to the 1990s, that would be similar to the Republican governor's proposals to add alternative fuel pumps to the Thruway and encourage biofuel manufacturing. The 2006-07 state budget totals about $112.1 billion, up from $106 billion last year, according to Pataki's budget office. Pataki had declared about $1.5 billion of additional spending unconstitutional. On Monday, Pataki said he doesn't want to add to what he said is already too much spending. But he would restore his $1.8 million proposal to help gas stations to add alternative fuel pumps. He also wants to encourage the purchase of hybrid automobiles with a $200 tax break, cut state taxes on alternative fuels to bring the price to 50 cents per gallon less than gas and provide incentives for alternative fuel manufacturing using corn, natural gas, wood fibers and other products. He said the state Thruway will start installing alternative fuel pumps at rest stops this summer. Pataki pitched some of the ideas in his State of the State speech in January, but the Legislature cut it from his budget. "If .. people took a look and pulled up and saw that one (pump) was 50 cents a gallon less than the other, they would be demanding the opportunity to have access to that and to have vehicles that can use that," Pataki said. "So with a very small investment we could have a tremendously powerful impact on changing the energy dynamic in New York state." He said encouraging consumers will spur the industry to provide better and more effective alternatives to oil-based fuels. "There are all sorts of opportunities like that if we have incentive programs," Pataki said. "I think this is one where the people are way ahead of the politicians." Pataki, who is considering a run for president in 2008, also said the federal government could provide powerful incentives to encourage the use of alternative fuel vehicles and lower the cost of the fuel. (END) Dow Jones Newswires May 02, 2006 18:10 ET (22:10 GMT)