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Toronto, Ontario, Canada (AHN) – Canadian Prime Minister Stephen Harper said Thursday he disagrees with a proposal by Washington to collect a $5.50 levy on all Canadians entering the U.S. by air and sea.

Harper said the plan, contained in the 2012 budget proposal of President Barack Obama, is an indicator of how far Washington is willing to go to raise revenues. The prime minister acknowledged that its neighbor is facing a budget deficit of more than $1 trillion, but stressed travel taxes, expected to raise $100 million yearly, would hinder economic recovery efforts of both nations.

The proposal came just weeks before Obama and Harper sit down to tackle a border security agreement that seeks to ease movement of people and goods between the two nations.

Harper said the border agreement talk aims to ensure trade and travel between Washington and Ottawa is facilitated and not hampered. He said imposing extra taxes on those activities would not help in the economic recovery.

The levy, already collected by the U.S. on other travelers, removes the exemption enjoyed by visitors from Canada, Mexico and the Caribbean since 1997.

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Washington, D.C., United States (AHN) – Vermont’s Independent Sen. Bernard Sanders spent over eight hours denouncing the new agreement to extend Bush-era tax cuts to millions of Americans.

Speaking on the floor of the U.S. Senate, Sanders spoke out against President Barack Obama’s efforts, saying the deal only increases America’s debt and fails to solve the underlying economic issues that mire the country.

Reading letters from constituents, Sanders took aim at Obama, Senate Republicans, China and others.

“I’m not here to set any great records or to make a spectacle. I am simply here today to take as long as I can to explain to the American people the fact that we have got to do a lot better than this agreement provides,” Sanders said.

Nonetheless, the deal will move forward and is likely to clear Congress before the holidays.

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Washington, DC, United States (AHN) – President Barack Obama on Sunday looked forward to accountability and responsibility from the newly-elected Republicans in the House.

“My expectation is, when I sit down with Mitch McConnell and John Boehner this week, along with the Democratic leaders, that there are a set of things that need to get done during the lame duck, and that they are not going to want to just obstruct, that they’re going to want to engage constructively,” he said.

The President made the comments Sunday to journalists aboard Air Force One as he returned from a 10-day trip to India, Indonesia, Korea and Japan.

Obama noted that “I believe it is a mistake for us to borrow $700 billion to make tax cuts permanent for millionaires and billionaires. It won’t significantly boost the economy, and it’s hugely expensive. So we can’t afford it.”

The president, however, expressed his willingness to learn “how they (the Republicans) intend to spend–how they intend to pay for it,” as he recalled that, “during the campaign at least, the Republicans expressed some strong feelings about (those tax-cuts).”

“I want to hear from them how strongly they feel about it, particularly given that they’re also saying they want to control the deficit and debt,” he added.

“Campaigning is very different from governing,” noted Obama. “All of us learn that. And they’re (the Republicans) still flush with victory, having run a strategy that was all about saying no.”

The American people “want to see us make progress precisely because they understand instinctually how competitive things are and how we have to step up our game.” Obama hoped that “we should be able at least to get through the lame duck, making sure that taxes don’t go up for middle-class families starting January 1st, that some of the key business provisions that can assure economic growth get done.”

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New Delhi, India (AHN) – Traditional earthen lamps, delicious sweets, noisy fireworks and loads of fun is how Diwali or Deepawali is usually described in India and wherever the Hindu community celebrates this important festival that marks the victory of good over bad.

This is also the day when Hindus worship the goddess of wealth, Lakshmi, and the god of hosts, ‘Ganesha,’ invoking the former to become rich and the latter to remove all obstacles from their path to wealth and happiness.

Diwali is the time when people visit relatives, friends, neighbors and colleagues and exchange gifts and sweets. The whole country wears a festive look, complete with multi-colored patterns called rangolis made by hand, while kids and adults alike blast their way through fireworks worth thousands of rupees.

The bonhomie marking this festival is visible even along the India-Pakistan border. At several posts along the border, troops from both sides exchange sweets and dry fruit in a clear departure from the otherwise hostile situation between the two traditional rivals.

In a significant gesture, U.S. President Barack Obama, who began a three-day visit to India on Saturday, will celebrate the festival Sunday with students of Holy Name High School in Mumbai. Recognizing the significance of Diwali, also known as the “festival of lights,” President Obama also conveyed his wishes to Indians through a White House statement. In it, he said, “Diwali is a time for celebration, but it is also a time for reflection and a time when we must remember that there are always others less fortunate than ourselves. This holiday reminds us all that we should commit ourselves to helping those in need. To those celebrating Diwali in India, I look forward to visiting you over the next few days.”

U.S. Secretary of State Hillary Clinton issued her own message. “We join the people of India to celebrate this joyful festival, the auspicious partnership between our two countries, and the great friendship between our people. I wish all people of Indian descent a very happy Diwali and a safe and prosperous year.”

Although fun and frolic, sweets and savouries are the common thread in Diwali, the festival is celebrated in different ways in different regions of the country, in keeping with the diverse cultural fabric of India.

In Punjab, Hindus and Sikhs visit the sanctum sanctorum of Harmandir Sahib, also known as the Golden Temple, to pay obeisance to the God Almighty. while in Mumbai Diwali is marked with a traditional bath with fragrant oils called the “Abhyang Snan.”

In Kolkata, the capital of West Bengal, a culturally-rich eastern state of India, Diwali is signified with Kali Puja, an incarnation of Goddess Durga, the goddess of courage and bravery. The Kolkatans throng Kali temples throughout the capital city, prominent among which are those at Kalighat, Dakshineswar and Tarapith.

Right from the urban landscape dotted with shopping malls, well-lit apartment blocks, glittering sidewalks to the rustic environs, where the poor celebrate this festival in more subdued ways, Diwali presents a juxtaposition of sorts, where the extremes of India are visible.

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Washington, D.C., United States (AHN) – American authorities say packages intercepted overseas contained explosives destined for the United States. President Barack Obama was alerted late Thursday night, according to the White House, and ordered security officials to be on alert.

“Last night, intelligence and law enforcement agencies discovered potential suspicious packages on two planes in transit to the United States,” White House Press Secretary Robert Gibbs said. Based on close cooperation among U.S. government agencies and with our foreign allies and partners, authorities were able to identify and examine two suspicious packages, one in East Midlands, United Kingdom and one in Dubai.”

“Both of these packages originated from Yemen. As a result of security precautions triggered by this threat, the additional measures were taken regarding the flights at Newark Liberty and Philadelphia International Airports,” Gibbs added.

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Washington, D.C., United States (AHN) – President Barack Obama on Friday appointed Elizabeth Warren giving her charge of the creative process involved in the floating of Consumer Financial Protection Bureau.

At the Rose Garden, the president noted in his remarks to the journalists, “The Consumer Financial Protection Bureau, which was one of the central aspects of financial reform, will empower all Americans with the clear and concise information they need to make the best choices, the best financial decisions, for them and their families.”

With the new agency coming into existence, Obama promised to the American people, “Never again will folks be confused or misled by the pages of barely understandable fine print that you find in agreements for credit cards or mortgages or student loans.”

Sen. Al Franken (D-Minn.) welcomed the appointment of Warren saying, “The President’s appointment of Elizabeth Warren to oversee the creation of the Consumer Financial Protection Bureau is a victory for America’s consumers.”

“Warren is one of the nation’s foremost experts on consumer protection and a fierce consumer advocate who will stand up to mortgage lenders, credit card companies and other financial institutions,” said the senator, cautioning, “This is big step forward, but the work is only beginning. We must ensure that the new Bureau is as strong as possible and that Warren receives a permanent appointment.” 


Earlier this year, Sen. Franken and 11 of his Senate colleagues had sent a letter to President Obama urging Warren’s appointment.

Later in the day, White House press secretary Robert Gibbs defended Obama’s decision to name Warren, arguing that the agency could have faced delays of months because Republicans would have put her nomination on the back-burner or outright rejected, if she had been nominated director of the agency.

Gibbs told journalists at the daily press briefing, “The president will nominate a director, and Elizabeth will be instrumental in helping the president fill that position,” but did not rule out her being one of the candidates for that position.

Gibbs, however added, “If she said she’s not interested in it, then there’s your answer,” when it was mentioned that she has expressed her unwillingness to take the job as a director.

On the question of the president bypassing rules, Gibbs said, “There’s no circumventing the law in any way of this,” explaining that, “the task of setting up and standing up that function rests in the law with the Treasury. Elizabeth Warren is an adviser to the secretary of Treasury to do exactly that.”

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Since he became US President, Barack Obama has made the issue of housing one of his top priorities. He implemented the new home stimulus package that will help the housing industry with it’s first time home buyers stimulus and home affordable plan. It helps lower income Americans to purchase new homes or to pay for repairs and improvements to their current homes.

Everyone is aware that these are troubled financial times, and that an ever increasing amount of people are losing their jobs and facing mortgage foreclosures, and that is why a home stimulus package such as this is so important. The latest improvements to the affordable home plan packages makes them even more beneficial to US citizens that ever before. One example of these new beneficial changes is one made during the amendment to the home stimulus package last August, which meant even those with an equity of less than 20% percent can now take advantage of the package. The result? Even more Americans now being able to benefit.

Secondly, the interest rate for paying back home loans has been lowered from 6.5 percent to 5.16 percent. This was done so it will be easier for people to pay off their debts. The loan period has likewise been increased to twenty to thirty years in order to give people more time to pay off their debts. Furthermore, payments need now be no more than 31% of your monthly income, which means that you can totally cover the other needs of your family before allocating money towards these debt repayments.

To put these changes into real life perspective, I’ll tell you about a friend of mine; he had wanted to purchase a new home for the past 6 months but was unable to do so, even with the former home stimulus package in place, because he had an equity of only 19%. Also, he was aware that even if he had had the necessary amount of equity, he would have had hard time repaying the loan due to the interest rate being beyond his means. However, with these latest changes to the home stimulus package he has now finally been able to buy the house he has dreamt so long about. For him, these changes really have been a blessing, and he is most thankful to President Barack Obama.

This is only the tip of the iceberg when it comes to the advantages and benefits this home stimulus package can give us. But, the bottom line is this: You too can now afford to buy your new home or do repairs on your current home as a result of this home affordable plan. So long as your income is lower than $95,000 (single) or $170,000 (married), then you have no reason to not at least research a little more into the great opportunity that is the first time home buyer stimulus tax credit. You have a lot to gain by giving further consideration to taking the government up on this offer, and nothing to lose.

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By Mark Walters.Article Source:http://www.articlesbase.com/real-estate-articles/why-i-love-the-latest-home-stimulus-package-1488211.html

To rebuild US economy that had tumbled due to recession in the third quarter of 2008, President Obama and his administration has signed up 2009 economic stimulus plan that has to work on many aspects. Almost all the citizens are facing financial crunch and thus are unable to meet all responsibilities. It was felt by the team that among all of them the most sufferer is the sect of homeowners who had taken home loan under high rate of interest and due to the financial crisis they are now unable to repay their loan amount. The first time home buyer stimulus is specially designed to help the first time homeowners to have their house on easy terms and lower interest rate.

When anyone buys his first house it is much more than just a house and investment. There are lot of emotions and sentiments involved in buying and decorating it. read more…