MACTV News: Wall Street closes worst week since Nov '08 with wild day, Posted by Menelik Zeleke

NEW YORK (Reuters) - Stocks closed out their worst week in more than two years on Friday in a volatile session that saw the major indexes whip back and forth before the S&P 500 ended down less than a point.

BREAKING News: UPDATE 4-United States loses prized AAA credit rating from S&P, Posted by Menelik Zeleke

S&P also changed its assumption that the 2001 and 2003 tax cuts enacted under President George W. Bush would expire by the end of 2012, “because the majority of Republicans in Congress continue to resist any measure that would raise revenues.”

UN News: Ban Ki-moon, UN Secretary-General on the situation in Syria – Security Council Media Stakeout , Posted by Menelik Zeleke

03 August 2011

Informal comments to the media by UN Secretary-General Ban Ki-moon on the situation in Syria (following the adoption by the Security Council of a Presidential Statement on Syria).

UN News: European Union members of the Security Council on the situation in Syria – Security Council Media Stakeout , Posted by Menelik Zeleke

03 August 2011

Informal comments to the media by the four members of the European Union in the Security Council: H.E. Sir Mark Lyall Grant, Permanent Representative of the United Kingdom to the United Nations, Mr. Martin Briens, Deputy Permanent Representative of France (in French), Mr. Miguel Berger, Deputy Permanent Representative of Germany (in English and German) and H.E. Mr. João Maria Cabral, Deputy Permanent Representative of Portugal on the situation in Syria.

UN News: SC President H.E. Mr. Hardeep Singh Puri (India) on thedeath of four Ethiopian peacekeepers in Sudan, Posted by Menelik Zeleke

03 August 2011

Informal comments to the media by H.E. Mr. Hardeep Singh Puri, Permanent Representative of India to the United Nations and President of the Security Council for the month of August on the death of four Ethiopian peacekeepers in Sudan and the situation in Syria.

MACTV WORLD News: Ivorian bus plunges into lagoon, killing 35, Posted by Menelik Zeleke

The wreckage of a bus that plunged into a lagoon in central Abidjan, killing at least 35 people, is hauled from the water.

Read more the full story @http://www.myafricachannel.tv 

For more up to date News visit our website: http://www.myafricachannel.tv or follow us on tweeter @mactv_dc

MACTV News: Obama to celebrate 50th birthday, Posted by Menelik Zeleke

 

U.S. President Barack Obama marks his 50th birthday on Thursday (August 4) with a celebration and reflection.

White House News: Obama turns 50th birthday into campaign fundraiser, Posted by Menelik Zeleke

U.S. President Barack Obama celebrates his 50th birthday with a star-studded fundraiser in Chicago, featuring performers Jennifer Hudson and Herbie Hancock.

MACTV News: REID TO BOEHNER, Posted by Menelik Zeleke

For Immediate Release

Date: Wednesday, August 3, 2011

CONTACT:  Adam Jentleson, (202) 224-2939

REID TO BOEHNER: COME BACK FROM VACATION,

PUT 74,000 AMERICANS BACK TO WORK

A clean extension would keep Americans employed while Congress resolves differences

Washington, D.C.– Senate Majority Leader Harry Reid sent the following letter to House Speaker John Boehner today asking him to pass a clean extension of the Federal Aviation Administration reauthorization bill so more than 74,000 Americans can go back to work.

“I stand ready to work with you to pass a clean extension of the FAA’s current programs, while we resolve our differences,” Reid wrote. “To illustrate the importance of the FAA extension, I was recently contacted by a Las Vegas construction worker who was ecstatic after getting a job working on the new control tower at McCarran International Airport. He was furloughed days later. Imagine how devastated he felt. There are thousands of Americans like my constituent who are out of work because of this impasse.”

“We must resolve our differences through the normal legislative process. In the meantime, we need a clean, short term extension to get these people back to work.”

House Republicans are trying to force through a policy change that would benefit one airline, while allowing the FAA’s authority to expire before going into recess. This has forced the furlough of 4,000 FAA employees and more than 70,000 contractors and construction workers.

A copy of the letter is attached and PDF is available here.

August 3, 2011

Speaker John Boehner
U.S. Capitol, H-232
Washington, DC  20515

Dear Speaker Boehner:

With both the House and Senate in pro-forma session over the next month, we can immediately resolve the impasse over the Federal Aviation Administration, and put back to work the more than 74,000 Americans who have been furloughed. I stand ready to work with you to pass a clean extension of the FAA’s current programs, while we resolve our differences.

To illustrate the importance of the FAA extension, I was recently contacted by a Las Vegas construction worker who was ecstatic after getting a job working on the new control tower at McCarran International Airport. He was furloughed days later. Imagine how devastated he felt. There are thousands of Americans like my constituent who are out of work because of this impasse

Upon their return home, I am certain that members of the House will hear from furloughed construction workers, airport managers, and FAA safety employees just as I have. With the livelihoods of many working families at stake, we should not allow this situation to remain unaddressed for weeks until Congress returns in early September.

We must resolve our differences through the normal legislative process. In the meantime, we need a clean, short term extension to get these people back to work. There is bipartisan support for this position. My colleague, Republican Senator Kay Bailey Hutchison said it best on the Senate floor yesterday: “We should not shut down the FAA because of a rider put on the extension of the FAA legislation that has not been negotiated. It is not honorable for the House to send an extraneous amendment.”

Just as we found compromise in recent days, we both know there is a path forward to end this impasse. I am personally willing to compromise on the essential air services issue during negotiations on the final bill, in order to pass a clean extension. It is also my hope that Republicans will relent on the controversial policy change that is narrowly targeted to benefit just one airline. I urge you to help us bring back to work more than 4,000 FAA employees – and the 70,000 contractors and construction workers – while we arrive at a consensus. 

We cannot afford to delay any longer.  I am ready to work with you to pass a clean extension immediately.

Sincerely,

Sen. Harry Reid

Senate Majority Leader

###

White House News: STATEMENT BY THE PRESIDENT, Posted by Menelik Zeleke

THE WHITE HOUSE

Office of the Press Secretary

________________________________________________________________

For Immediate Release                             August 2, 2011

STATEMENT BY THE PRESIDENT

Rose Garden

1:06 P.M. EDT

     THE PRESIDENT:  Good afternoon, everybody.  Congress has now approved a compromise to reduce the deficit and avert a default that would have devastated our economy.  It was a long and contentious debate.  And I want to thank the