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January 27, 2012
* BEA - Gross Domestic Product, 4th quarter and Annual 2011

News release: "Real gross domestic product - the output of goods and services produced by labor and property located in the United States - increased at an annual rate of 2.8 percent in the fourth quarter of 2011 (that is, from the third quarter to the fourth quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 1.8 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the fourth quarter, based on more complete data, will be released on February 29, 2012. The increase in real GDP in the fourth quarter reflected positive contributions from private inventory investment, personal consumption expenditures (PCE), exports, residential fixed investment, and nonresidential fixed investment that were partly offset by negative contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased."

  • Related postings on financial system
  • Permanent Link        Topic(s): Government Documents
    January 26, 2012
    * 2011 Small Business Profiles for the States and Territories

    2011 Small Business Profiles for the States and Territories

  • "The economic condition of small businesses in the United States is captured in the latest edition of the Small Business Profiles for the States and Territories. This annual publication from the Office of Advocacy provides information on the demographics of business ownership, employment, industry composition, and small business income, for each of the 50 states and the District of Columbia. The publication provides available limited data on the U.S. territories The value of this publication is the detail it provides about small businesses at the state level. An Excel spreadsheet containing all of the data in the profiles is also available. The state and territory profiles are in Adobe PDF format."
  • Permanent Link        Topic(s): Government Documents
    * TRAC Report - DHS Referred Most Federal Criminal Prosecutions in October 2011

    TRAC: "The latest available data from the Justice Department show that during October 2011 the Department of Homeland Security's efforts to enforce immigration and customs laws accounted for 59% of all federal criminal prosecutions. The government reported 8,038 new prosecutions for these DHS matters as compared with a total of 13,628 from all sources. According to the case-by-case information analyzed by the Transactional Records Access Clearinghouse (TRAC), this number is up 9.3 percent over the previous month. These comparisons of the number of defendants charged are based on case-by-case information obtained by TRAC under the Freedom of Information Act from the Executive Office for United States Attorneys."

    * New GAO Reports: GAO Mission and Operations, Medicare Advantage, FHFA Financial Audit
    • GAO Mission and Operations - Summary of GAO's Performance and Accountability Report Fiscal Year 2011, GAO-12-5SP, January 26, 2012
    • Medicare Advantage - CMS Should Improve the Accuracy of Risk Score Adjustments for Diagnostic Coding Practices, GAO-12-51, January 12, 2012
    • Financial Audit - Federal Housing Finance Agency's Fiscal Years 2011 and 2010 Financial Statements [Reissued on January 26, 2012] GAO-12-161, Nov 15, 2011
    Permanent Link        Topic(s): Government Documents
    * Health and Access to Care Among Employed and Unemployed Adults: United States, 2009–2010

    Health and Access to Care Among Employed and Unemployed Adults: United States, 2009–2010, Key data:

      "In 2009–2010, 48.1% of unemployed adults aged 18–64 years had health insurance compared with 81.4% of employed adults; among the insured, a higher proportion of the unemployed had public insurance.
    • Unemployed adults had poorer mental and physical health than employed adults; this pattern is found for insured and uninsured adults.
    • Unemployed adults were less likely to receive needed medical care due to cost than the employed in each insurance category.
    • The unemployed were less likely to receive needed prescriptions due to cost than the employed in all insurance categories.
    • Uninsured adults were less likely to receive needed medical care and prescription drugs due to cost than those with public or private insurance, regardless of employment status.

    Permanent Link        Topic(s): Government Documents
    * Border Security: Immigration Enforcement Between Ports of Entry

    CRS - Border Security: Immigration Enforcement Between Ports of Entry, Marc R. Rosenblum, Specialist in Immigration Policy. January 6, 2012

  • 'Border enforcement is a core element of the Department of Homeland Security’s (DHS’s) effort to control illegal migration, with the U.S. Border Patrol (USBP) within the Bureau of Customs and Border Protection (CBP) as the lead agency along most of the border. Border enforcement has been an ongoing subject of congressional interest since the 1970s, when illegal immigration to the United States first registered as a serious national problem; and border security has received additional attention in the decade following the terrorist attacks of 2001. Since the 1990s, migration control at the border has been guided by a strategy of “prevention through deterrence”—the idea that the concentration of personnel, infrastructure, and surveillance technology along heavily trafficked regions of the border will discourage unauthorized aliens from attempting to enter the United States. Since 2005, CBP has attempted to discourage repeat entries and disrupt migrant smuggling networks by imposing tougher penalties against certain unauthorized aliens, a set of policies known as “enforcement with consequences.”
  • Permanent Link        Topic(s): Government Documents
    * CRS - Proposed Keystone XL Pipeline: Legal Issues

    Proposed Keystone XL Pipeline: Legal Issues, January 23, 2012

  • "In 2008, TransCanada Corp. applied for a presidential permit from the State Department to construct and operate an oil pipeline across the U.S.-Canada border in a project known as Keystone XL. The Keystone XL pipeline would transport oil produced from oil sands in Alberta, Canada, to Gulf Coast refineries. The permit application was subjected to review by the State Department pursuant to executive branch authority over cross-border pipeline facilities as articulated in Executive Order 13337. After several phases of review, on November 10, 2011, the State Department announced that it would seek additional information about alternative pipeline routes before it could move forward with a national interest determination. In response, several pieces of legislation were introducedThis report reviews those legal issues. First, it suggests that legislation related to cross-border facility permitting is unlikely to raise significant constitutional questions, despite the fact that such permits have traditionally been handled by the executive branch alone pursuant to its constitutional “foreign affairs” authority. Next, it observes generally that state oversight of pipeline siting decisions does not appear to violate existing federal law or the Constitution. Finally, the report suggests that State Department’s implementation of the existing authority to issue presidential permits appears to allow for judicial review of its National Environmental Policy Act determinations."
  • * State Revenue Report - Tax Revenue Keeps Rising, But Growth Again Ticks Downward

    Tax Revenue Keeps Rising, But Growth Again Ticks Downward - Thirty-Six States Were Still Below Peak Collection Levels in FY 2011

  • Overall State Taxes and Local Taxes: "Total state tax collections as well as collections from two major sources — taxes on sales and personal income — showed growth for the seventh consecutive quarter in July-September 2011. Overall state tax revenues increased by 6.1 percent from the same quarter of the previous year, according to data collected by the Rockefeller Institute and the Census Bureau. The Institute’s findings indicate slightly stronger fiscal conditions for states than the preliminary data released in late December 2011 by the Census Bureau, which reported an overall increase of 5.6 percent. We have updated those figures to reflect data we have since obtained and to reflect differences in how we measure revenue for purposes of the State Revenue Report...declines in personal income tax and sales tax collections as well as in overall state tax collections were steeper in and after the Great Recession that began in December 2007 than around previous recessions. Overall tax collections as well as personal income and sales tax revenues showed softening growth in the third quarter of 2011. Personal income tax collections showed growth of 10.1 percent and sales tax collections rose by 3.8 percent."
  • Permanent Link        Topic(s): Government Documents
    January 25, 2012
    * Bankers Report Mixed Results in 2011 Exams

    American Bankers Association And State Bankers Associations Regulatory Feedback Initiative, Banker Reports on Recent Bank Examination Experiences For the Calendar Year 2011, Summary Report. January 25, 2012

  • "Bankers’ regulatory examination experiences in 2011 can best be described as "mixed," according to a report released yesterday on the ABA-state bankers associations’ Regulatory Feedback Initiative."
    Since June 1, 2011, bankers have been reporting, anonymously, on their recent regulatory examination experiences. Reports have been made through a standardized, confidential survey developed and maintained by the American Bankers Association and an alliance of State Bankers Associations...As of year-end 2012, bankers had filed 1015 surveys. Banks of nearly all sizes are represented in the surveys, community banks most heavily represented. What follows is a report on some of the findings from surveys filed by banks recently examined by the FDIC, the Federal Reserve, the OCC, and the OTS (prior to merger with the OCC). This is a follow up to a report that ABA provided to ABA members in October 2011."
  • * Global Employment Trends 2012: Preventing a deeper jobs crisis

    News release: "The world faces the “urgent challenge” of creating 600 million productive jobs over the next decade in order to generate sustainable growth and maintain social cohesion, according to the annual report on global employment by the International Labour Organization (ILO). “After three years of continuous crisis conditions in global labour markets and against the prospect of a further deterioration of economic activity, there is a backlog of global unemployment of 200 million,” says the ILO in its annual report titled Global Employment Trends 2012: Preventing a deeper jobs crisis. Moreover, the report says more than 400 million new jobs will be needed over the next decade to absorb the estimated 40 million growth of the labour force each year. The Global Employment Trends Report also said the world faces the additional challenge of creating decent jobs for the estimated 900 million workers living with their families below the US$ 2 a day poverty line, mostly in developing countries."

    Permanent Link        Topic(s): Government Documents
    * New GAO Reports: Arlington National Cemetery, Defense Health, Fraud-Prevention Controls
    • Arlington National Cemetery - Actions Taken and Steps Remaining to Address Contracting and Management Challenges, GAO-12-374T, January 25, 2012
    • Chemical, Biological, Radiological, and Nuclear Risk Assessments - DHS Should Establish More Specific Guidance for Their Use, GAO-12-272, January 25, 2012
    • Defense Health - Coordinating Authority Needed for Psychological Health and Traumatic Brain Injury Activities, GAO-12-154, January 25, 2012
    • Federal Employees' Compensation Act - Preliminary Observations on Fraud-Prevention Controls, GAO-12-402, January 25, 2012
    • Capitol Police - Retirement Benefits, Pay, Duties, and Attrition Compared to Other Federal Police Forces, GAO-12-58, January 24, 2012
    Permanent Link        Topic(s): Government Documents
    * West LegalEdcenter and NALP Foundation Release Study of Law Firm Professional Development

    News release: "The majority of law firms in the United States and Canada expect to increase their reliance on electronic forms of lawyer development in the next 24 months, although associates in those firms say they prefer mentoring and on-the-job training to hone their skills. Details regarding this important disconnect, along with other key findings about the landscape of professional development inside law firms, are available in a first-of-its-kind research report published by the NALP Foundation in partnership with West LegalEdcenter, a Thomson Reuters business. The report, “Leading Law Firm Professional Development: A Comprehensive Study of Professional Development Staffing, Resources and Program Delivery Modes,” examines the perspectives of more than 200 law firm administrators responsible for professional development functions and nearly 1,500 associates from firms ranging in size from less than 10 lawyers to more than 1,000 lawyers. The data for this study was collected in late 2010 and early 2011 from online questionnaires."

    Permanent Link        Topic(s): Legal Research
    * Commission proposes a comprehensive reform of the data protection rules

    News release: The European Commission has today [January 24, 2012] a comprehensive reform of the EU's 1995 data protection rules to strengthen online privacy rights and boost Europe's digital economy. Technological progress and globalisation have profoundly changed the way our data is collected, accessed and used. In addition, the 27 EU Member States have implemented the 1995 rules differently, resulting in divergences in enforcement. A single law will do away with the current fragmentation and costly administrative burdens, leading to savings for businesses of around €2.3 billion a year. The initiative will help reinforce consumer confidence in online services, providing a much needed boost to growth, jobs and innovation in Europe."

    * USDA Plant Hardiness Zone Map

    "The 2012 USDA Plant Hardiness Zone Map is the standard by which gardeners and growers can determine which plants are most likely to thrive at a location. The map is based on the average annual minimum winter temperature, divided into 10-degree F zones. For the first time, the map is available as an interactive GIS-based map, for which a broadband Internet connection is recommended, and as static images for those with slower Internet access. Users may also simply type in a ZIP Code and find the hardiness zone for that area."

    Permanent Link        Topic(s): Government Documents
    * White House Blueprint for an America Built to Last

    Blueprint for an America Built to Last, January 25, 2012, President Obama. Key points:

    • A Nation Where Everyone Gets a Fair Shot, Does Their Fair Share, and Plays by the Same Set of Rules
    • A Blueprint to Create New Jobs Here in America, Discourage Outsourcing, and Encourage Insourcing
    • A Blueprint To Give Hard-Working, Responsible Americans A Fair Shot
    • A Blueprint to Make the Most of America’s Energy Resources
    • A Blueprint to Return to America’s Values - Ensuring Everyone Plays by the Same Set of Rules and Pays Their Fair Share

    Permanent Link        Topic(s): Government Documents