Lawmakers Split On Meaning Of New Job Numbers

By Rob Sanna - Talk Radio News Service

Two House members disagreed Friday over what the July job numbers really mean.

Rep. Carolyn Maloney (D-N.Y.), Chair of the Joint Economic Committee, and Rep. Kevin Brady (R-Texas), the committee’s ranking Republican, each offered their own take on the report during a hearing this morning that featured testimony from a senior Labor Department official.

“Along with the failure of the massive, failed Democrat stimulus to put people back to work, except in federal government jobs, families and business fear the…job killing, anti-growth policies coming out of Washington,” said Brady.

“The signal of this Democratic Congress is clear: we”ll spend whatever taxpayer money it takes to save a government job, the rest of you American workers can take a hike,” he added.

Maloney, on the other hand, called the new figures encouraging, citing job increases in the private sector since President Obama took office. Maloney said the nation is experiencing economic recovery, even if the amount of growth was not as pronounced last month as it was earlier this year.

“The policies of this Democratic Congress quickly put into place this last year are working,” Maloney said.

“Without the actions taken by the administration, Congress, and the Federal Reserve, this recession would have been another great depression,” she added.

As BP Fills Well With Cement, Response Team Moves To Recovery

by Miles Wolf Tamboli - Talk Radio News Service

In an operational update in Washington, Thursday, National Incident Commander Thad Allen stated; “the decision was made last night that the well was in the proper condition where we could cement it. That would increase the integrity of the well, as far as potential leaking of hydrocarbons, and would actually enhance our ability to do the bottom kill … this is not the end, but it will virtually assure us that there will be no chance of oil leaking into the environment.”

After successfully pumping heavy drilling mud into the Macondo deepwater well in the Gulf of Mexico, BP was authorized by the Coast Guard last night to begin cementing the well - a large step toward killing the well once and for all.  Cementing began around 8:30 am EST, Thursday, and may take up to two days to cure enough for drilling to resume on two crucial relief wells.

Once the cement has set for a “certain amount of time,” drilling into the annulus (the area between the pipeline and the rock) should take five to seven days, according to top officials.

“this is not the end, but it will virtually assure us that there will be no chance of oil leaking into the environment,” continued Allen; “I will say once again to the people of the Gulf that we are committed to finishing this cleanup, and holding BP accountable, and we will continue to do that.”

In an operational update from New Orleans that afternoon the Federal On-Scene Coordinator, Rear Admiral Paul Zukunft, explained that, 21 days since any oil has entered the Gulf from the Macondo well, he has seen evidence of recovery in heavily-oiled Barataria Bay in Louisiana. 

Zukunft described the resilience of the Gulf ecosystem, and told the press that a key goal in the next phase of the oil spill response will be the inclusion of local leaders in policy-making. He warned, however; “in terms of tar balls washing ashore, we are definitely talking months, potentially years.”

Senate Democrats Blame Stagnant Economy On Stalled Congress

Robert Hune-Kalter - Talk Radio News Service

A duo of Senate Democrats pointed their fingers the Republican party Thursday and accused Senate Republicans of stalling an agenda aimed at boosting the economy.

Sen. Robert Menendez (D-N.J.) posed a simple question to voters heading into the summer recess.

“Whose side are you on?” he asked.

Menendez asserted that more could have been accomplished this year had Republicans not repeatedly stalled legislation and denied the economy of countless beneficial provisions.

“As [Democrats] try to give those small businesses the tax breaks and incentives to be able to grow this economy and hire more Americans, Republicans, every step of the way, are impeding our ability to create those jobs,” he said.

Sen. Sheldon Whitehouse (D-R.I.) said that it is frustrating to move legislation in the Senate because negotiations get delayed and are not made in good faith.

Menendez agreed, and said Senate Democrats will try to pass energy legislation, repeal tax breaks and help small businesses when the Senate reconvenes in September.

“What we want at the end of the day is to help middle-class families in this country get over this difficult time and realize their hopes and dreams and aspirations,” he said.

However, the lawmakers’ ambitious remarks were met immediately with skepticism.

“Senators Menendez and Whitehouse have imposed an immeasurable burden on small businesses with mountains of new spending and debt and countless new tax hikes under the failed Pelosi-Reid economic agenda,” said Parish Braden, a spokesman for the Republican National Committee (RNC).

In fact, 83,000 total jobs have dissapeared in Rhode Island and New Jersey since one of the Democrats’ biggest legislative achievements - the American Recovery and Reinvestment Act - was passed in early 2009. Both states have also seen their unemployment rates rise considerably in that time.

“Democrat leaders pledge to support small businesses while at the same time are planning yet another job killing tax hike on the same businesses,” Braden added.

Mexico Slowly Bringing Oversight To Its Oil Industry

Robert Hune-Kalter - Talk Radio News Service

The head of a new agency within the Mexican government tasked with regulating carbon extraction said Mexico will soon be getting tougher on its largest state-owned oil company.

Juan Carlos Zepeda Molina, President of the newly created National Commission of Hydrocarbons, told a panel gathered at the Center for Strategic and International Studies in Washington, D.C., that his department will bring necessary oversight to Pemex, one of the largest companies in the world, worth hundreds of billions of dollars annually.

(Click here for a more in-depth article from the Wall Street Journal)

“Our main focus right now, is to go into Pemex and check whether Pemex has all internal procedures according to best practices. The second thing is to assign a specific regulation. The third level of regulation, as I mentioned, we have the technical assessment,” he said.

One procedure Molina finds to be of the utmost importance is to implement a double-key authorization.

“Before a critical decision is taken, I believe we have to enforce a double-key procedure to make sure certain procedures are done and that you have the concourse of more than one judgement in order to take a final decision,” said Molina.

Lourdes Melgar, an independent energy consultant studying at the Woodrow Wilson Center in Washington, D.C., worries that Pemex has future offshore drilling plans that exceed the company’s technologies and practices.

“How does a company such as Pemex, and how do we think we can do this with such a weak regulation or nonexistent regulation, do the quantum leap from 1200 meters to 2520 meters?” said Melgar.

Melgar also worries about Mexico’s lackadaisical response to the oil spill in the Gulf of Mexico.

“One cannot just pretend nothing is going on,” she said. “Why has the Mexican government been so quiet about something that is happening right there in the Gulf of Mexico? After all it’s called the Gulf of Mexico, it’s something we share.”

Obama Defends Auto Bailout During Visit To Chicago Ford Plant

By Sarah Mamula - Talk Radio News Service

“America’s automakers have added 55,000 jobs since last June,” said President Barack Obama at a Ford facility on Thursday. “And over the next two months, this plant will bring on a second shift of 1,200 workers…nearly doubling your workforce,” he added.

After recent visits to GM and Chrysler plants, Obama followed up his 49th birthday by touring a Ford Motor Company assembly plant in Chicago. While reiterating the success of the administration’s decision to bail out the auto industry, Obama also applauded Ford’s ability to survive the recession without taking government funds.

“Ford was in better financial shape and was able to weather the storm without federal assistance,” said Obama to an audience of 1,700 employees, industry representatives, elected officials, and community and labor leaders.

“That’s a testament to the hard work you all do and the choices this company made.”

The President also announced a new $250 million Export-Import Bank loan guarantee for Ford that will support the company’s efforts to sell cars overseas and increase opportunities for jobs. 

“This [loan guarantee] will help Ford export more than 200,000 cars and trucks…that means more production and more manufacturing jobs,” said the President.

The loan initiative, Obama said, is one of several efforts the administration is making to help fulfill a pledge he made during his State of the Union address to double America’s exports of goods and services in the next five years.

“We’re going to support millions of good jobs for American workers to do what they’ve always done: build great products and sell them around the world,” said the President.