Find out the latest news and topics of interest from Dr. James G. Hood, D.D.S., M.A.!
Archive for the ‘Political News’ Category
Summer and the August 2 Debt Deadline
Hello August!
Believe it or not, August, which signals summer’s end, is already here. Back-to-school sales abound, as do long-awaited 90-degree temperatures.
In everyone’s effort to stay cool and hydrated, don’t forget to get you and your children in for dental check-ups before school starts again.
- Summer fun at Silverwood, north of Coeur d’Alene, ID
In our nation’s capitol, debates are heated on how to avoid the first default in the history of our republic. This keeps many people nervous and unable to enjoy summer weather. Others, unaware and unconcerned about what default would mean to everyone, vacation with abandon.
The August 2nd deadline pressure looms heavy over our elected legislators. The debt ceiling will likely be raised. At what cost is our concern? Once a bill is passed to raise the ceiling, will we understand it? Or will it be a bill that gets manipulated into doing something other than what it was intended to do?
We, as a nation, do not want to go the way of Greece. Hopefully, our government will turn around and citizens will again have faith in our government.
Nonetheless, the United States of America is still the freest and most generous nation on earth. Get out in this summer weather and see a part of this country you’ve not see before. It doesn’t have to be the Grand Canyon. Visit a recreation area in your local area that you’ve not experienced before. Local parks often have surprises that you’ve never thought of. Get a map of your locality and decide how far you are willing to drive (gas is often the limiting factor). Use that distance for the radius of a circle which you draw around your home, and then find an area to explore.
Enjoy your local community. See something you heard or read about yet never visited. There are plenty of places near home to enjoy.
Have fun, enjoy the Inland Northwest, and keep smiling!
Dr. James G. Hood
*~ * ~ * ~ *
Dental Care Associates of Spokane Valley, P.S.
Family and Cosmetic Dentistry Welcomes Patients
from Age 2 to 102!
James G. Hood, D.D.S., M.A.
507 North Sullivan Road, Suite A-1
Spokane Valley, WA 99037-8576 USA
Phone: (509) 928-9100 | Fax: (509) 928-0414
Email: drhood@drhood.com
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Citizenship For Sale?
by Daniel Gross
Source: Yahoo! Finance
Every day investors around the world choose to put their hard-earned cash into the U.S. Billions of dollars flow in the form of foreign direct investment, as when a group of Brazilians bought Burger King, and foreigners purchase hundreds of billions of U.S. stocks and bonds, as measured by the Treasury’s TIC data.
But a small number of investors show up on these shores drawn by something more valuable than financial returns: the prospect of U.S. citizenship.
You can’t simply purchase an American passport (at least not legally). But since 1990, foreigners with as little as $500,000 in cash have been able to invest their way to a quick green card, putting them on the path to citizenship. Quick, somebody call Lou Dobbs!
Yes, the U.S. government lets people with cash to jump the line for a green card through the EB-5 program.
Starting in 1990, 10,000 visas have been set aside each year for the EB-category. The program was designed to encourage foreign investors to create jobs by starting a new business or preserve jobs by investing in money-losing businesses. If they agree to invest $1 million, foreigners can get a visa, apply for green cards, and become conditional permanent residents.
After two years, provided they’ve made good on their promise to invest, created 10 jobs (family members don’t count), and the business is still an ongoing concern, they can apply to have those conditions removed. And after five years with a green card, holders can apply for citizenship.
Of the 10,000 visas in the program, 3,000 are set aside for “targeted employment areas” — rural areas, or places with an unemployment rate that’s 150 percent or more of the national average. For these visas, the threshold is lowered to $500,000.
Another 3,000 visas are set aside for investments in “regional centers” — areas or industries designated by states. (A full list of regional centers can be seen here.)
Some organizations, professional service firms, and companies promote the program as a whole, or market investment in particular projects as appropriate for EB5 aspirants, such as a ski resort in Vermont. Other entrepreneurs having a tough time raising cash are now seeking to use the program to tap into new sources of financing. The Wall Street Journal reported last week that developer Bruce Ratner is seeking to use the program to help raise funds in China for his massive, controversial Atlantic Yards development in Brooklyn, N.Y.
Now, many may view the prospect of giving favorable immigration treatment to investors as problematic. The phrase “bring us your moneyed investors yearning to breathe free” doesn’t have the same poetic heft as the inscription about the tired, poor, huddled masses etched on the Statue of Liberty. From its inception, the price of citizenship has traditionally been a willingness to leave behind the old world and work hard — not write a check to support the construction of a bunch of ski-in, ski-out condos.
But I happen to think this is a very good thing. If it were fully utilized, the EB5 program would bring at least $7 billion annually and create or preserve 100,000 jobs per year. It’s not much in the grand scheme of things — there are currently about 130 million Americans with payroll jobs. But given the trauma inflicted upon American workers in the past three years, every little bit helps. And this is something the U.S. should be doing more of.
One cure for the vast overhang of excess housing would be to offer expedited citizenship to people willing to purchase vacant homes in places in like Las Vegas or Detroit.
In fact, it’s surprising that more people don’t take the U.S. up on its offer. Consider the changing shape of the world’s economic geography: We’ve got American companies with lots of cash that are reluctant to invest at home because they see better prospects abroad. Thanks to that same dynamic, millionaires are being minted by the millions in China, India, and Brazil, and elsewhere.
Unfortunately, the EB5 program has never come close to maxing out. According to U.S. Citizenship and Immigration Services, in 2009, just 1,028 people applied for EB5 status and 966 were approved, up from 776 applications and 485 approvals in fiscal 2007. Applications and approvals rose sharply in fiscal 2010, to 1,727 and 1,271, respectively.
I’m guessing the lackluster numbers can be chalked up to a failure of marketing rather than the limited attraction of the underlying product, or of its expense. In fact, the investment-related green card should probably be priced higher. Here’s a thought experiment: Ask how much you’d have to be paid to give up American citizenship for you and your family and assume that of a randomly chosen foreign country. Something tells me the bidding would start at a point much higher than $500,000.
Pentagon report: China extending military reach, Source: CNN
Pentagon report: China extending military reach
Washington (CNN) — The Chinese military continues to expand its reach and capabilities beyond its immediate geographical area, a new report from the U.S. Department of Defense concludes.
The report, an annual assessment sent to Congress, notes that some of those capabilities have been positive, like humanitarian and anti-piracy efforts, but others are meant to give China “extended-range power projection.”
While China’s continued effort to be able to sustain military operations far from its shore are concerning to the U.S. military, “China’s ability to sustain military power at a distance, today, remains limited,” the report says.
As in the past, the U.S. program to sell military equipment to Taiwan continues to create tension with China and has led to cessation at times of military relations between the two countries.
The assessment notes that China has the most active ballistic and cruise missile program in the world, including developing anti-missile technology. Also of concern are Chinese efforts to develop a long-range anti-ship ballistic missile with a reach of more than 900 miles, which would include areas in which the U.S. Navy is active. Such a measure would give the Chinese military “the capability to attack ships, including aircraft carriers, in the Western Pacific Ocean,” according to the report.
The Chinese could start building their first aircraft carrier this year, and China has started to train pilots to operate off such carriers. It already has a Russian carrier that it is refurbishing.
Its naval muscle is also being flexed with additional nuclear powered submarines, and it has nearly completed a navy base on Hainan Island, “with direct access to vital international sea lanes,” which will allow for “stealthy deployment of submarines,” the report says.
This article is courtesy of CNN News at: http://www.cnn.com/2010/WORLD/asiapcf/08/16/us.china.military/index.html?hpt=Sbin

















JAKARTA, Indonesia – After two years of waiting, Indonesians are finally getting the chance to welcome back their adopted son. But the euphoria that swept the predominantly Muslim country after Barack Obama’s election victory has been replaced by a dose of reality.Few here now believe he will change American policies in the Middle East or improve U.S. relations with the Muslim world. And hopes that the two countries would march forward together on the 


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