Not funny News Fri 8-28-09

[1] The US Will Default On Its Debt and

[2] Bill S.773 would give usurper president emergency control of Internet

Story [1] > The flood of debt that the US is taking on in its efforts rescue to economy will combine with huge social insurance obligations--Medicare, Medicaid, Social Security--to create an unsustainable level of public indebtedness, economist Jeffrey Rogers Hummel argues …

A more likely outcome, it seems to us, is that the US will make good on Treasury debt but repudiate soft obligations like Social Security and Medicare. That way the US would continue to be able to borrow in the future. And all it would require would be a Congressional vote lowering the outlays for these programs.

Source > http://www.businessinsider.com/hummel-the-us-will-default-on-its-debt-2009-8

Story [2] > Internet companies and civil liberties groups were alarmed this spring when a U.S. Senate ill proposed handing the White House the power to disconnect private-sector computers from the Internet.

They're not much happier about a revised version that aides to Sen. Jay Rockefeller, a West Virginia Democrat, have spent months drafting behind closed doors.

The new version - S.773 - would allow the president to "declare a cybersecurity emergency" relating to "non-governmental" computer networks and do what's necessary to respond to the threat. Other sections of the proposal include a federal certification program for "cybersecurity professionals," and a requirement that certain computer systems and networks in the private sector be managed by people who have been awarded that license.

Source > http://news.cnet.com/8301-13578_3-10320096-38.html

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