By Leah Valencia, University of New Mexico- Talk Radio News Service

Unemployment increased to 10.2 percent in October, the highest rate since 1983, leaving Americans with 190,000 less jobs, Bureau of Labor and Statistics Commission Keith Hall told Congress in a Joint Economic Committee hearing Friday.

“The declines are much smaller and less widespread than they were last Fall and Winter,” Hall said. “Nevertheless, some industries are still experiencing notable employment decline.”

Hall told the committee that in October the heavy construction, manufacturing and retail industries have had a particularly significant decline in employment losing a combined total of 163,000 jobs.

However, he added that some industries have seen an increase in employment. Health care and help services are among the few that have added jobs, with a much smaller figure of 63,000 combined jobs.

Hall said since the recession began the number of unemployed has more than doubled to 15.7 million.

“The number of long-term unemployed remained high in October,” Hall said. “5.6 million workers have been jobless for 27 weeks or more.”

He said the increasing number of people who have become discouraged in looking for work and therefore remained unemployed have added to the problem. In October there was a reported 808,000 discouraged workers, a figure up from 484,000 last year.

“These are individuals are not currently looking for work because they believe no jobs are available for them,” Hall said.

Committee members on both side of the aisle agreed that in terms of job creation, the economy is not where it needs to be. Chairwoman Carolyn Maloney (D-N.Y.) said she believes the nation is on track to recovery, while Republicans argued that the Obama administration has not done enough to facilitate employment growth.

By Meagan Wiseley – University of New Mexico/Talk Radio News Service

AARP CEO A. Barry Rand announced Thursday that the lobbying organization for seniors’ interests is endorsing the House health care bill.

“On behalf of our nearly 40 million members, AARP is pleased to endorse the Affordable Health Care for America Act,” Rand said during a press conference.

Rand said the House bill improves and strengthens Medicare benefits and protects the program for future generations. He also said the bill restricts insurance companies from discriminating against older Americans.

“The Affordable Health Care for America Act…meets those goals with improved benefits for people in Medicare and needed health insurance market reforms to help ensure every American can purchase affordable health coverage,” said Rand.

The House is preparing to vote on this bill as soon as Saturday.

Rand added, “As members of the House gear up for this historic vote, they will hear from older Americans.”

AARP is the largest membership organization for people over 50.

By Leah Valencia, University of New Mexico- Talk Radio News Service

While Republicans celebrated their parties numerous victories from Tuesday’s elections, House Speaker Nancy Pelosi (D-Calif.) said Wednesday that she was not disappointed by the results.

“From our standpoint, we picked up votes last night, one in California and one in New York,” Pelosi said during a press appearance, referencing the special elections held in New York’s 23rd Congressional district and California’s 10th.

“From our perspective, we won last night,” Pelosi added. “From our standpoint…a candidate was victorious who supports health care reform.”

The Speaker did not acknowledge the fact that Democratic gubernatorial losses in New Jersey and Virginia may have a negative political impact on her efforts to win votes to pass the America’s Healthy Choices Act, the bill to reform the health care system, through the House.

Pelosi instead focused on the Democratic wins in the two special elections for House seats.

By Ravi Bhatia, Talk Radio News Service

If the public option on health care is viable and sustainable for the American people, then members of Congress and the Senate should sacrifice their own federal health benefits and use it themselves, said Rep. Joe Wilson (R-S.C.) and other House Republicans Wednesday.

“If this government-run plan is so good, why don’t members of Congress take the plan?” asked Wilson, during a press conference promoting an amendment to the Affordable Health Care For All Americans Act requiring all members of the House and Senate subscribe to the public insurance option offered by the legislation.

While Wilson admittedly does not support the public option, the proposed amendment is being interpreted as a way to make a point to Wilson’s Democratic colleagues.

“We know why the majority of the ‘Pelosi takeover bill’ does not provide this,” Wilson continued. “They do know that the government-run option will not be in the interest of the American people, either individually or for the American citizens at large. I’m just very hopeful that they’ll reconsider, that they will understand if it’s good enough for the American people, it’s good enough for Congress.”

Wilson added that the House is “shoving this bill through.”

Wilson went on to say that the House is “shoving this bill through.”

“Speaker Pelosi still has not informed us about what the amendment process will be for this bill,” Wilson said in a statement released Wednesday. “An issue as important as a health care overhaul that will impact every American is much too important through rush through without transparency or a democratic amendment process.”

Wilson garnered controversy when he shouted the phrase “you lie” during President Barack Obama’s address to a joint session of Congress in September.

The alternative health care reform bill being pitched by House Republicans will not prevent insurance providers from barring clients based on pre-existing conditions, House Minority Leader John Boehner (R-Ohio) said Monday.

Instead, the bill aims to increase high-risk pools on a state-by-state basis.

“We do encourage more states to have high-risk pools,” said Boehner during a pen and pad session with reporters. “It is a place where people with pre-existing conditions will have an opportunity to get affordable health insurance.”

According to Boehner, the Republican plan will likely not provide tax-incentives for those who purchase their own insurance either, citing the presumably high-cost as the prohibitive factor.

In addition to the alternative bill, Boehner and House Republican Conference Chairman Mike Pence (R-Ind.) outlined the party’s strategy for combating the Affordable Health Care for America Act, which will include a 12-hour online town hall and a campaign spear-headed by Republican women members.

“Our goal is to make this as difficult as possible to vote for,” Boehner remarked.

By Meagan Wiseley – University of New Mexico/Talk Radio News Service

Despite continued threats to the security of the global cyber infrastructure, Ranking Member of the Senate Homeland Security and Governmental Affairs Committee Susan Collins (R-Maine) said Monday that she is opposed to the Obama administration appointing a cyber security coordinator, or “cyber czar.”

“We don’t need yet another White House czar. A czar would conflict with statutory duties established elsewhere,” Collins said.

Instead, Collins favors a cyber security “center” within the Department of Homeland Security (DHS). DHS would appoint a director for the center, and the director would report both to the DHS on a day to day basis, and act as the head adviser to the President on cybersecurity.

“Effectively managing government cybersecurity is going to require more than a few staff crammed into a cubicle in the depths of the White House,” said Collins.

Last Friday, Secretary of Homeland Security Janet Napolitano opened the DHS’s National Cybersecurity and Communications Coordination Integration Center, which acts as a 24-hour coordinated watch and warning center to bolster cyber information sharing and incident response.

Collins said that despite its effort to manage cyber security, the DHS “still lacks the authority and resources it needs to secure our federal and private sector networks.”

She says her “center” proposal must work in accordance with law enforcement and intelligence agencies, the U.S. military and private owners and operators of critical cyberspace infrastructures.

“It is vitally important that we build a strong public-private partnership to protect cyberspace, a vital engine of our economy, our government, our country and our future,” Collins concluded.

By Meagan Wiseley, University of New Mexico-Talk Radio News Service

Max Boot, a senior fellow at the Council on Foreign Relations, advised the Obama administration Friday not to wait for Afghanistan’s runoff election to decide upon a military strategy for the region.

“I think it’s a bit of a cop-out to say we have to wait until after the election to see if there’s a government we can work with,” Boot said during a late morning conference call. “I think we have a pretty good sense it’s going to be a somewhat dysfunctional government no matter what happens with the election.”

“The odds are that Karzai will win and we’ll face exactly the same set of problems after the election that we face today,” Boot added.

Boot supports the U.S. counterinsurgency (COIN) military strategy in Afghanistan, proposed by General Stanley McChrystal. COIN, he says, will improve Afghan stability and lead to a future where Afghan leaders can successfully govern it’s citizens without the temptation to join forces with the Taliban or al-Qaida.

“The best way to expand and improve the capabilities of an indigenous security force is by partnering them with American unit,” said Boot. “To do that you have to have more American units on the ground … which is going to happen over the next two years under the McChrystal plan.”

McChrystal compiled a report suggesting 40,000 additional troops, but President Barack Obama has not settled on strategic approach for the 8 year old Afghan war.

The run-off election is scheduled for November 7th and will be between current President Hamid Karzai and politician Abdullah Abdullah.

By Ravi Bhatia – Talk Radio News Service

During testimony given before the House Financial Services Committee Thursday, Treasury Secretary Timothy Geithner echoed the White House’s support for Committee Chairman Rep. Barney Frank’s (D-Mass.) proposal that would grant the Federal government the authority to take control of failing financial firms.

Frank’s legislation would create a fund paid for by businesses with over $10 billion in assets in order to bear the costs of big firms that fail. Such costs were incurred by American taxpayers in the 2008 bailouts of banking company Citigroup and General Motors. It would also create a Financial Oversight Council, led by Geithner, to set policy and stricter regulations on the firms, and mediate arguments between federal agencies.

“It’s not about redemption for the firms that make mistakes,” Geithner said. “It’s about unwinding them in a way that doesn’t cause catastrophic damage to the economy.”

The Committee will vote on the legislation as early as next week. The committee’s Ranking Republican, Spencer Bachus (R-Ala.), opposed the legislation and the speed at which it is being pushed.

“The draft legislation that was supposed to be the subject of this hearing was not received until Tuesday afternoon,” he said. “I doubt that any of today’s witnesses, with the possible exception of Secretary Geithner, have had the opportunity to fully comprehend the legislation entirely.”

“Their proposal places taxpayers first in line to bear the losses when the government invokes its resolution authority,” added Bachus.

In a statement released before her testimony on Thursday, Federal Deposit Insurance Corporation Chairman Sheila Bair said that the proposed Oversight Council lacks the authority to “effectively address systemic risks.” She recommended that the President appoint an independent chairman, subject to Senate confirmation, to fill the role Geithner would otherwise.

“A Council with regulatory agency participation will provide for an appropriate system of checks and balances to ensure that decisions reflect the various interests of public and private stakeholders,” Blair said.

Geithner said that he believes Frank’s bill will update the federal government’s financial regulatory system to match what he called, “21st century” challenges.

“The Council will have the obligation and the authority to identify any firm whose size in leverage and complexity creates a risk to the system as a whole and needs to be subject to heightened, stronger standards on leverage,” he said. “The rules in place today are inadequate and they are outdated. We’ve all seen what happens when in a crisis, the government is left with inadequate tools to respond…. That is a searing lesson of last Fall.”

House Speaker Nancy Pelosi (D-Calif.) introduced the final draft of health care reform legislation Thursday that, like the recently announced sister legislation in the Senate, will include a government administered insurance option.

“The [Affordable Health Care For America Act] will expand coverage, including a public option to boost choice and competition in health insurance reform,” said Pelosi during an unveiling ceremony with other House Democrats at the U.S. Capitol.

While the public plan introduced Thursday is likely to satisfy moderate Democrats, it runs the risk of upsetting progressives, who have long been pushing for a more “robust” option. As it now stands, the public option grants health care providers more leverage in reimbursement rate negotiations.

Still, Pelosi lauded the bill during the ceremony, claiming that it will be deficit neutral, close the Medicare Part D coverage “donut hole” and extend coverage to 96% of Americans. Pelosi also promised that the bill will be available online 72 hours before it reaches the floor.

The Speaker’s remarks were briefly interrupted by megaphone wielding pro-life protestors. Pelosi responded to the distraction, quipping “thank you, insurance companies of America.” The demonstrators were not permitted entrance to the closed ceremony.

At the ceremony’s close, Rep. John Dingell (D-Mich.), the longest serving member of the House, presented the Speaker with the gavel used during the passage of Medicare.

By Laura Smith – University of New Mexico/Talk Radio News Service

Treasury Official Kenneth Feinberg testified on Wednesday before the House Oversight and Government Reform Committee about his review of the bonuses paid to executives at the seven largest TARP recipients.

According to Feinberg, the Special Master for Executive Compensation under the Troubled Asset Relief Program – also referred to by some as the White House’s ‘Pay Czar’ – those recipients include American International Group (AIG), Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors and GMAC.

“For the last five months, I have a narrow mandate under the law, and that was to determine pay compensation packages for the top 25 officials in just seven companies that receive the most TARP assistance,” he said.

Feinberg explained that he received proposals from each of the seven companies on the matter of compensation, and after he reviewed them, he took specific actions to correct their flaws.

“I requested and received comprehensive submissions from each of the seven companies, explaining their view on what they thought they needed for their top 25 officials in the way of a comprehensive package. I examined those submissions with the utmost care and scrutiny, and I concluded that six of the seven submissions…were contrary to the statute, contrary to the regulations, and contrary to the public interest,” he said.

Feinberg clarified his remarks by stating that certain of the companies “wanted too much cash guaranteed salary…and made no mention of the perks that were part of their salary.”

Feinberg said that his office evaluated the submissions and made some material changes.

“First we greatly reduced the amount of cash that would be available to the senior officials. Second, they required that when they issue stock, that stock may not be cashed out for up to four years. Third, we said no more unlimited perks. Perks are limited to $25,000 per individual, and anymore than that would have to be approved by the Office of the Special Master,” he said.