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Illinois Democratic Sen. Tammy Duckworth gave birth to a baby girl Monday, her office announced, the first US senator to do so while in office."Bryan, Abigail and I couldn't be happier to welcome little Maile Pearl as the newest addition to our family and we're deeply honored that our good friend Senator (Daniel) Akaka was able to bless her name for us -- his help in naming both of our daughters means he will always be with us," Duckworth said in her office's statement.In her statement, Duckworth used the event to advocate that rules should be changed so she can bring her baby to Senate votes.Duckworth had her first child in 2014, when she was serving in the House of Representatives.An aide close to Duckworth told CNN she's doing well and taking 12 weeks to bond with her new daughter and take care of her family. She's staying in Washington, DC, for her maternity leave and is available to vote as needed.When she gave birth to her first daughter, she took her maternity leave at her home in Chicago, but this time she and her and her husband decided that she would give birth in the DC area in case she needs to vote, the aide said.Akaka -- a Democrat from Hawaii who served in Congress for more than three decades -- died Friday at age 93. He was previously responsible for giving Duckworth's first daughter, Abigail, her middle name of O'kalani.Duckworth is a retired Army lieutenant colonel who was a helicopter pilot in the Iraq War. She was the first female double amputee from the war after suffering severe combat wounds when her Black Hawk helicopter was shot down. After retiring from the Army, she was elected to Congress in 2013. 1670
Housing and rates are worrying some economists that a recession is looming."One of the biggest concerns is the housing market," said Lindsey Piegza, chief economist for Stifel, on CNNMoney's "Markets Now" live show Wednesday. "It's throwing up a very large red flag and suggests maybe this 4% growth we saw in the second quarter is not sustainable."Home sales?have declined in four of the past five months as housing prices have grown -- but paychecks have remained stagnant. Many people can't afford to buy homes, and those who can are taking on a lot of debt to get into them.Piegza says that echoes what happened right before the Great Recession in 2008."We're not there yet, but this is what led us to the housing crash," she said.How could this happen again? Piegza believes that a decade of rock-bottom interest rates helped people forget about the dangers of borrowing too much."I don't know if we learned our lesson from the Great Recession," she said. "We are going back to a lot of the easy lending that we used to see."Although Piegza said a recession isn't necessarily imminent -- especially after quarterly growth just came in at the fastest pace in almost four years -- there are signs of waning momentum in the economy.Interest rates, for example, are starting to become a bad omen.The Federal Reserve, which finished up its two-day meeting Wednesday, is expected to raise its target rate two more times this year. Higher rates have boosted short-term US Treasury bond rates. But the longer-term bond rates haven't risen along with the shorter-term rates, because investors are growing wary about the economy over the long haul.With two more interest rate hikes planned, the Fed could boost short-term rates higher than long-term ones, inverting the so-called yield curve. An inverted yield curve has preceded every recession in modern history."We could easily be there by the end of the year," Piegza said. "I think we'll see pressure on the longer end by the end of the year, but the Fed will still be raising rates on the short end."Fed Chairman Jerome Powell has said that he is not concerned about an inverted yield curve. Piegza strongly disagrees."It is a predictive measure of a recession," she said. 2266

If California electric utility PG&E is responsible for California's wildfires, it may not be able to afford the payouts it would owe.PG&E disclosed in a regulatory filing Tuesday that it "experienced an outage" on a transmission line in Butte County at 6:15 a.m. on November 8 -- just 15 minutes before the Camp Fire that has so far claimed 48 lives broke out.PG&E said the cause of the fire is still under investigation. But if its equipment is found to be responsible for it, PG&E "could be subject to significant liability in excess of insurance coverage" and that this could have "a material impact" on its financial results.The utility renewed its liability insurance coverage for wildfire events for an amount of approximately .4 billion that covers the period from August 1, 2018 through July 31, 2019, the company said in the SEC filing.But the fire is far from being under control, which means more damage is likely. PG&E said in the filing that the California Department of Forestry and Fire Protection estimates the fire won't be fully contained until November 30.The damages alone could cost up to .8 billion. according to a report from Moody's this week.PG&E may not have enough to cover the cost that, let alone any legal fees or fines it might have to pay. The utility said in its filing that it currently has .46 billion in cash after borrowing from an existing revolving credit line.Shares of PG&E (PCG) plunged more than 30% Wednesday following this disclosure and were briefly halted for volatility. The stock has now fallen by half since the Camp Fire began.The utility could need another bailout from the state of California if it's found to be liable for the Camp Fire.Governor Jerry Brown signed a bill in September that lets PG&E issue bonds backed by surcharges from the utility's customers. Those bonds would help pay for damages tied to deadly California wildfires in October 2017 caused by faulty PG&E equipment.The bill allows for the possibility that utilities could issue similar bonds for future fires, but that is not guaranteed.PG&E already faces one lawsuit on behalf of victims of the Camp Fire.A group of law firms that has dubbed itself the Northern California Fire Lawyers filed a suit Tuesday on behalf of Camp Fire survivors.The firms allege in the suit that "PG&E was negligent in failing to maintain its infrastructure and properly inspect and manage its power transmission lines." 2507
IMPERIAL BEACH, Calif. (KGTV) — Wednesday, Imperial Beach city leaders unanimously approved a one-cent sale tax measure for the November ballot.The city says, if enacted, the measure would, "enable the City to prepare for medical or catastrophic emergencies including preparing local first responder services, updating emergency communication systems and maintaining rapid 911 emergency response capacity."The potential one-cent sales tax increase would also support restoring the city's long-term emergency funding that is being used to address the coronavirus pandemic."Even through these challenging times, the City must continue to address challenges with clean, safe neighborhoods and addressing homelessness to maintain Imperial Beach as a quality community to live, work and raise a family for all residents," said Assistant City Manager, Erika Cortez-Martinez.The measure includes accountability and transparency requirements, including public disclosure of spending and independent audits, the city says.If approved it would go into effect in the spring of 2021. 1079
How early is TOO early to start shopping for the holidays? While some think it's a sin to start this early, Walmart and Amazon feel August is a great time to begin your Christmas shopping.This week they released their holiday toy guides. Some of the top toys on the lists include: 298
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