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8A Daily News – Wednesday, February 15, 2012 WORLD BRIEFING US, Europe consider bank penalty against Iran WASHINGTON (AP) — The United States and Europe are considering unprecedented punishment against Iran that could immediately cripple the country's financial lifeline. But it's an extreme option in the banking world that would come with its own costs. The Obama administra- tion wants Iran evicted from SWIFT, an independent financial clearinghouse that is crucial to the country's overseas oil sales. That would leapfrog the current slow-pressure campaign of sanctions aimed at persuad- ing Iran to drop what the U.S. and its allies contend is a drive toward developing and building nuclear weapons. It also perhaps would buy time for the U.S. to persuade Israel not to launch a pre-emptive mili- tary strike on Iran this spring. The last-resort financial effort suggests the U.S. and Europe are grasping for ways to show immediate results because economic sanctions have so far failed to force Iran back to nuclear talks But such a penalty could send oil prices soaring when many of the world's economies are still frail. It James W. Tysinger, Jr. M.D. Eye Physician & Surgeon Fellow American Academy of Ophthalmology We accept Medical, Medicare & most Insurances Office Hours: Tues-Wed-Thurs 8am-4:30pm Mon & Fri 1pm-4:30pm For Emergencies, After Hours, Week-ends, Call 530-567-5001 345 Hickory St. Red Bluff Tel: (530) 529-4733 Fax: (530) 529-1114 also could hurt ordinary Ira- nians and undercut the repu- tation of SWIFT, a banking hub used by virtually every nation and corporation around the world. The orga- nization's full name is the Society for Worldwide Interbank Financial Telecommunications. Meanwhile, violence is increasing. Explosions in Bangkok on Tuesday — Israel's defense minister labeled them an ''attempted terrorist attack'' — came the day after Israel accused Iran of trying to kill its diplomats in India and Georgia. Those attacks fol- lowed the recent killings of Iranian scientists. Bangkok blasts wound Iranian BANGKOK (AP) — Israel accused Iran of wag- ing a covert campaign of state terror that stretched this week from the Middle East to the heart of Asia after a bungled series of explosions led to the capture of two Iranians in Bangkok. Authorities in Israel ratcheted up security at home and abroad following Tuesday's explosions in the Thai capital, escalating a confrontation over Iran's suspect nuclear program and raising fears of war. On Monday, an Israeli diplomat's wife and driver were wounded in New Delhi when a bomb stuck to K W I K K U T S Family Hair Salon $200 REGULAR HAIRCUT off with coupon Not good with other offers 1064 South Main St., Red Bluff • 529-3540 Reg. $13.95 Expires 2/29/12 their minivan exploded, and another device was defused on an Israeli Embassy car in Tbilisi, Georgia. Israel blamed Iran for those attacks as well. Israel has threatened mil- itary strikes on Iranian nuclear facilities, and Iran has blamed the Jewish state for the recent killings of Iranian atomic scientists. Iran denied responsibili- ty for the attacks in India and Georgia, which appeared to mirror the killings of the Iranian scien- tists that used ''sticky bombs.'' House- Senate talks said to yield progress WASHINGTON (AP) — House-Senate talks on renewing President Barack Obama's signature payroll tax cut made significant progress Tuesday, and aides said an agreement could be announced later in the day. ''Barring a blowup, a deal will probably be acknowledged tonight,'' a Democratic aide said, speaking on the condition of anonymity to assess the pri- vate negotiations. Under the emerging pact, a 2 percentage-point cut in the Social Security payroll tax would be extended through the end of the year, with the nearly $100 billion cost added to the deficit. Jobless benefits for the long-term unem- ployed would be renewed as well, with the $30 billion or so cost paid for in part through auctioning broad- cast spectrum to wireless companies and requiring federal workers to con- tribute more toward their pensions. The payroll tax cut and renewing jobless benefits were key planks in Obama's jobs program, which was announced in September. The payroll tax cut benefits 160 million Americans and delivers a tax cut totaling $2,000 this year for some- one making a $100,000 salary and a cut of $20 a week for a typical worker making $50,000. It's not only a win for Obama but takes the payroll tax fight — which had Republicans on the defen- sive — off the table for the fall elections campaign. Obama's budget attacked WASHINGTON (AP) — Treasury Secretary Tim- othy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest fam- ilies and the alternative would be to seek more painful cuts in other govern- ment programs such as defense, Social Security and Newly Remodeled! RIDGEWAY PARK RECREATION HALL & GYMNASIUM Available for events, meetings & team practices Tehama County Parks for reservation information Reasonable rates Call An alcohol-free facility 528-1111 Your tax experts 32 Years Plus Experience "Enrolled to practice before the IRS" Open Year-Round New Clients Welcome www.lassentax.com Enrolled Agents: Rose Hablitzel, EA Rex Cerro, EA (530) 527-8225 208 Elm St., Red Bluff All major Credit Cards accepted Medicare. Geithner defended the new budget plan in the face of intense attacks from GOP members of the Sen- ate Finance Committee. Republican Sen. Orrin Hatch of Utah told Geithner that the administration's spending plan would give the country a ''permanently larger, European-inspired government.'' But Geithner said deeper spending cuts now would damage economic growth and push more Americans into poverty at a time when the economy is still strug- gling to recover from a deep recession. Geithner told the com- mittee that the administra- tion hopes to send Congress next week a framework for making changes in the country's corporate tax structure. Santorum revels in sudden rise BOISE, Idaho. (AP) — The latest Republican to surge in polls, Rick Santo- rum is trying to turn his newfound strength into something lasting. Curious Republicans now pack his rallies. Sup- porters have funneled near- ly $4 million to his formerly empty campaign account over the past seven days. And his staff is plotting an aggressive strategy to chal- lenge Mitt Romney in Rom- ney's native Michigan and beyond. But things don't look so strong just beneath the sur- face. Santorum is underfund- ed and outmanned. He's lacking in organization, a month and a half into the primary season. After he won three contests in a sin- gle day last week, his oppo- nents — on the right and the left — have begun their own efforts to tear him down. 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