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Daily Archives: November 19, 2013

CRS – Poverty in the United States: 2012

Poverty in the United States: 2012  – Thomas Gabe , Specialist in Social Policy. November 13, 2013

“In 2012, the U.S. poverty rate was 15.0%—46.5 million persons were estimated as having income below the official poverty line. Neither the poverty rate nor the number of persons counted as poor in 2012 differed statistically from 2011 or 2010. In 2012, an estimated 10.0 million more  people were poor than in 2006 and the poverty rate (15.0%) was 22% above that of 2006 (12.3%).  The 46.5 million persons counted as poor in 2012 is the largest number counted in the measure’s  recorded history, which goes back as far as 1959, and the 2012 poverty rate of 15.0% is the highest seen since 1993. The increase in poverty since 2006 reflects the effects of the economic recession that began in December 2007. The level of poverty tends to follow the economic cycle quite closely, tending to rise when the economy is faltering and fall when the economy is in sustained growth. This most recent recession, which officially ended in June 2009, was the longest recorded (18 months) in the post-World War II period. Even as the economy recovers, poverty is expected to remain high, as poverty rates generally do not begin to fall until economic expansion is well underway. Given the depth and duration of the recession, and the projected slow recovery, it will likely take several years or more before poverty rates recede to their 2006 pre-recession level.”

Chairman Bernanke: Communication and Monetary Policy

Chairman Ben S. Bernanke At the National Economists Club Annual Dinner, Herbert Stein Memorial Lecture, Washington, D.C., November 19, 2013. [snipped] “In coming meetings, in evaluating the outlook for the labor market, we will continue to consider both the cumulative progress since September 2012 and the prospect for continued gains. We have seen meaningful improvement inContinue Reading

Recently declassified Section 501 Foreign Intelligence Surveillance Act documents

“The recently declassified Section 501 Foreign Intelligence Surveillance Act (FISA) documents have been posted on the Office of the Director of National Intelligence site (ODNI).  These documents include: orders and opinions of the Foreign Surveillance Court; reports to Congress; other reports; training slides and other internal documents. More information about this as well as links toContinue Reading

Global economy recovering at moderate pace but more risks ahead, says OECD

“The global economy is expected to continue expanding at a moderate pace over the coming two years, but policymakers must ensure that instability in financial markets and underlying fragility in some major economies are not allowed to derail growth, according to the OECD’s latest Economic Outlook…GDP growth across the 34-member OECD is projected to accelerate fromContinue Reading

OECD Science, Technology and Industry Scoreboard

‘Science, technology, innovation and entrepreneurship – which foster competitiveness, productivity, and job creation – are important mechanisms for encouraging sustainable growth. The 260 indicators in the OECD Science, Technology and Industry (STI) Scoreboard 2013 show how OECD and partner economies are performing in a wide range of areas to help governments design more effective andContinue Reading

Agencies Release a Regulatory Capital Estimation Tool for Community Banks

“The federal bank regulatory agencies today released an estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios. The revised framework implements the Basel III regulatory capital reforms and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In JulyContinue Reading

DOJ, Federal and State Partners Secure Record $13 Billion Global Settlement with JPMorgan

DOJ news release: “The Justice Department, along with federal and state partners, today announced a $13 billion settlement with JPMorgan – the largest settlement with a single entity in American history – to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan,Continue Reading

New GAO Reports – Maritime Security, Navy Shipbuilding

MARITIME SECURITY – DHS Could Benefit from Tracking Progress in Implementing the Small Vessel Security Strategy, GAO-14-32, Oct 31, 2013 MARITIME SECURITY – Progress and Challenges in Key DHS Programs to Secure the Maritime Borders, GAO-14-196T, Nov 19, 2013 NAVY SHIPBUILDING – Opportunities Exist to Improve Practices Affecting Quality, GAO-14-122, Nov 19, 2013

Cryptographer and Harvard Scholar – NSA broke Internet’s security for everyone

Sean Gallagher, Ars Technica: “To say that there are a lot of people who are angry with the National Security Agency (NSA) right now would be an understatement. But the things that are getting the most political attention right now—such as the invasion of the privacy of American citizens and spying on the leaders of AmericanContinue Reading

IG – EPA Does Not Adequately Follow National Security Information Classification Standards

EPA Does Not Adequately Follow National Security Information Classification Standards, Environmental Protection Agency Office of Inspector General, November 15, 2013. “Our review of both originally and derivatively EPA’s national security information could be classified documents generated by three offices improperly classified found that the EPA does not sufficiently follow without improved national security information classification standards. procedures. Of theContinue Reading