Congress
February 02, 2012
* The Economic Outlook and the Federal Budget Situation

Chairman Ben S. Bernanke - The Economic Outlook and the Federal Budget Situation, Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. February 2, 2012

  • "Globally, economic activity appears to be slowing, restrained in part by spillovers from fiscal and financial developments in Europe. The combination of high debt levels and weak growth prospects in a number of European countries has raised significant concerns about their fiscal situations, leading to substantial increases in sovereign borrowing costs, concerns about the health of European banks, and associated reductions in confidence and the availability of credit in the euro area. Resolving these problems will require concerted action on the part of European authorities. They are working hard to address their fiscal and financial challenges. Nonetheless, risks remain that developments in Europe or elsewhere may unfold unfavorably and could worsen economic prospects here at home. We are in frequent contact with European authorities, and we will continue to monitor the situation closely and take every available step to protect the U.S. financial system and the economy."
  • Related postings on financial system
  • February 01, 2012
    * The Budget and Economic Outlook: Fiscal Years 2012 to 2022

    The Budget and Economic Outlook: Fiscal Years 2012 to 2022. January 2012

  • "Each January, CBO prepares “baseline” budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured. Therefore, as specified in law, those projections generally incorporate the assumption that current laws are implemented. But substantial changes to tax and spending policies are slated to take effect within the next year under current law. So CBO has also prepared projections under an “alternative fiscal scenario,” in which some current or recent policies are assumed to continue in effect, even though, by law, they are scheduled to change. The decisions made by lawmakers as they confront those policy choices will have a significant impact on budget outcomes in the coming years."
  • Testimony on the Budget and Economic Outlook: Fiscal Years 2012 to 2022
  • January 31, 2012
    * House Oversight Report - Fatally Flawed: Five Years of Gun-walking in Arizona

    Fatally Flawed: Five Years of Gun-walking in Arizona, Report of the Minority Staff, Rep. Elijah E. Cummings, Ranking Member Committee on Oversight and Government Reform, U.S. House of Representatives, January 2012

  • "...this report tells the story of how misguided gunwalking operations originated in 2006 as ATF’s Phoenix Field Division devised a strategy to forgo prosecutions against lowlevel straw purchasers while they attempted to build bigger charges against higher-level cartel members. Unfortunately, this strategy failed to include sufficient operational controls to stop these dangerous weapons from getting into the hands of violent criminals, creating a danger to public safety on both sides of the border. The report describes how, rather than halting this operation after its flaws became evident, ATF’s Phoenix Field Division launched several similarly reckless operations over the course of several years, also with tragic results. Operation Fast and Furious was the fourth in a series of operations in which gunwalking—the non-interdiction of illegally purchased firearms that could and should be seized by law enforcement—occurred since 2006. This report also details complaints by ATF line agents and senior officials in Washington, who told the Committee that these failures were aggravated and compounded by the Arizona U.S. Attorney’s Office, which failed to aggressively prosecute firearms trafficking cases, and Federal courts in Arizona, which showed leniency toward the trafficking networks that fuel armed violence in Mexico."
  • January 25, 2012
    * CRS - Presidential Signing Statements: Constitutional and Institutional Implications

    Presidential Signing Statements: Constitutional and Institutional Implications - Todd Garvey, Legislative Attorney. January 4, 2012

  • "Presidential signing statements are official pronouncements issued by the President contemporaneously to the signing of a bill into law that, in addition to commenting on the law generally, have been used to forward the President’s interpretation of the statutory language; to assert constitutional objections to the provisions contained therein; and, concordantly, to announce that the provisions of the law will be administered in a manner that comports with the administration’s conception of the President’s constitutional prerogatives. While the history of presidential issuance of signing statements dates to the early 19th century, the practice has become the source of significant controversy in the modern era as Presidents have increasingly employed the statements to assert constitutional and legal objections to congressional enactments. President Reagan initiated this practice in earnest, transforming the signing statement into a mechanism for the assertion of presidential authority and intent. President Reagan issued 250 signing statements, 86 of which (34%) contained provisions objecting to one or more of the statutory provisions signed into law. President George H. W. Bush continued this practice, issuing 228 signing statements, 107 of which (47%) raised objections. President Clinton’s conception of presidential power proved to be largely consonant with that of the preceding two administrations. In turn, President Clinton made aggressive use of the signing statement, issuing 381 statements, 70 of which (18%) raised constitutional or legal objections. President George W. Bush continued this practice, issuing 161 signing statements, 127 of which (79%) contain some type of challenge or objection. The significant rise in the proportion of constitutional objections made by President George W. Bush was compounded by the fact that his statements were typified by multiple objections, resulting in more than 1,000 challenges to distinct provisions of law. Although President Barack Obama has continued to use presidential signing statements, the Obama Administration has used the interpretive tools with less frequency than previous administrations—issuing 20 signing statements, of which 10 (50%) contain constitutional challenges to an enacted statutory provision."
  • January 18, 2012
    * New GAO Reports: Credit Rating Agencies, Dodd-Frank Act, Real Estate Appraisals,
    * House of Representatives House Launches Transparency Portal

    Sunlight Foundation: "Making good on part of the House of Representative's commitment to increase congressional transparency, today the House Clerk's office launched http://docs.house.gov/, a one stop website where the public can access all House bills, amendments, resolutions for floor consideration, and conference reports in XML, as well as information on floor proceedings and more. Information will ultimately be published online in real time and archived for perpetuity. The Clerk is hosting the site, and the information will primarily come from the leadership, the Committee on House Administration, the Rules Committee, and the Clerk's office. The project has been driven by House Republican leaders as part of an push for transparency. Important milestones include the adoption of the new House Rules in January 2011 that gave the Committee on House Administration the power to establish standards for publishing documents online, an April 2011 letter from the Speaker and Majority Leader to the Clerk calling for better public access to House information, a Committee on House Administration hearing in June 2011 on modernizing information delivery in the House, a December 2011 public meeting on public access to congressional information, and finally the late December adoption of online publication standards."

    January 16, 2012
    * CBO - Unauthorized Appropriations and Expiring Authorizations

    Unauthorized Appropriations and Expiring Authorizations, January 13, 2012: "As required, the Congressional Budget Office (CBO) reports each January to the Congress on the following: All programs and activities funded for the current fiscal year for which authorizations of appropriations have expired, and; All programs and activities for which authorizations of appropriations will expire during the current fiscal year. Those requirements are specified in section 202(e)(3) of the Congressional Budget and Impoundment Control Act of 1974."

  • Unauthorized Appropriations and Expiring Authorizations (House), January 13, 2012
  • Unauthorized Appropriations and Expiring Authorizations (Senate), January 13, 2012
  • January 15, 2012
    * 2012 Presidential Primary Calendar; 2012 State and Presidential Primary and Caucus Dates

    Via The Thicket: "National Conference of State Legislatures's (NCSL) new 2012 Presidential Primary Calendar, and its companion, a state-ordered table, 2012 State and Presidential Primary and Caucus Dates...Jennie Bowser created the lists and checked them against a multitude of official sources. She says, “this year, it was more complicated than ever to assemble this data.” Here are a few of the complications:

    • State legislatures decide the dates of primaries (except in the states where parties do);
    • Political parties decide the dates of caucuses (except in the states where the legislature does);
    • The two major parties don’t always use the same dates in a given state;
    • More states changed their dates this year than in any of the last three presidential cycles (and Texas’ date could still change); and,
    • Some primaries are “beauty contests” only, designed to bring attention to a state but not to choose delegates to the national conventions where presidential nominees are officially selected.
    • To understand all the vagaries in presidential nominating events, the National Association of Secretaries of State has just released a comprehensive report, NASS 2012 Presidential Primaries Guide. In it, you’ll learn the state-by-state details on how the date is chosen, how the primary is funded, who can vote in the primary, and where to find official results."

    January 14, 2012
    * Men Rule The Continued Under-Representation of Women in U.S. Politics

    Men Rule • The Continued Under-Representation of Women in U.S. Politics, January 2012

  • "Study after study finds that, when women run for office, they perform just as well as their male counterparts. No differences emerge in women and men’s fundraising receipts, vote totals, or electoral success. Yet women remain severely under-represented in U.S. political institutions. We argue that the fundamental reason for women’s under-representation is that they do not run for office. There is a substantial gender gap in political ambition; men tend to have it, and women don’t. We arrive at this conclusion by analyzing data from a brand new survey of nearly 4,000 male and female “potential candidates” – lawyers, business leaders, educators, and political activists, all of whom are well-situated to pursue a political candidacy – and comparing our results to a survey we conducted in 2001. Despite the emergence over the past ten years of high-profile women in politics, such as Nancy Pelosi, Hillary Clinton, and Sarah Palin, we find that the gender gap in political ambition is virtually the same as it was a decade ago. The gender gap in interest in a future candidacy has actually increased."

  • January 13, 2012
    * EPIC: FTC Adds Google+ to Antitrust Investigation

    EPIC: "Bloomberg News has reported that the Federal Trade Commission has expanded its antitrust investigation of Google to include Google's social networking service, Google+. The report comes after Google announced that it would include personal data gathered from Google+ in the results of users' searches, a move that led EPIC to urge the FTC to investigate the company. EPIC said that "Google's business practices raise concerns related to both competition and the implementation of the Commission’s consent order," referring to a settlement that the FTC reached with Google that establishes new privacy safeguards for users of all Google products and services and subjects the company to regular privacy audits. Google first confirmed the FTC’s antitrust investigation in June 2011. Recently, the Senate held a hearing on Google's use of its dominance in the search market to suppress competition, and EPIC urged the Federal Trade Commission to investigate Google's use of Youtube search rankings to give preferential treatment to its own video content over non-Google content. For more information, see EPIC: Google/DoubleClick and EPIC: Federal Trade Commission."

    January 10, 2012
    * CRS - National Infrastructure Bank: Overview and Current Legislation

    National Infrastructure Bank: Overview and Current Legislation, December 14, 2011. "Several bills to establish a national infrastructure bank have been introduced in the 112th Congress. This report examines three such bills, the Building and Upgrading Infrastructure for Long-Term Development Act (S. 652), the American Infrastructure Investment Fund Act of 2011 (S. 936), and the National Infrastructure Development Bank Act of 2011 (H.R. 402). These proposals share three main goals:

    • increasing total investment in infrastructure by encouraging new investment from nonfederal sources;
    • improving project selection by insulating decisions from political influence; and
    • encouraging new investment with relatively little effect on the federal budget through a mostly self-sustaining entity."

    January 04, 2012
    * The U.S. Housing Market: Current Conditions and Policy Considerations

    The U.S. Housing Market: Current Conditions and Policy Considerations, Federal Reserve White Paper submitted to Congress on January 4, 2012 - "The ongoing problems in the U.S. housing market continue to impede the economic recovery. House prices have fallen an average of about 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption. At the same time, an unprecedented number of households have lost, or are on the verge of losing, their homes. The extraordinary problems plaguing the housing market reflect in part the effect of weak demand due to high unemployment and heightened uncertainty. But the problems also reflect three key forces originating from within the housing market itself: a persistent excess supply of vacant homes on the market, many of which stem from foreclosures; a marked and potentially long-term downshift in the supply of mortgage credit; and the costs that an often unwieldy and inefficient foreclosure process imposes on homeowners, lenders, and communities."

    January 03, 2012
    * Changes in the Distribution of Income Among Tax Filers Between 1996 and 2006: The Role of Labor Income, Capital Income, and Tax Policy

    CRS: Changes in the Distribution of Income Among Tax Filers Between 1996 and 2006: The Role of Labor Income, Capital Income, and Tax Policy, Thomas L. Hungerford, Specialist in Public Finance, December 29, 2011

  • Social scientists and philosophers have been concerned with issues surrounding the distribution of income or income inequality for over 200 years—the economist and philosopher Adam Smith discussed these issues as early as 1776. Academic writers have been writing on income inequality measurement issues for at least a century. Policy makers have also long been interested in income inequality issues; for example, the issue came up in Senate debate in 1898. Bills have been introduced in the 112th Congress that address the issue of income inequality by affecting the income of workers and taxpayers in different parts of the income distribution. In the second session of the 112th, Congress will likely debate the scheduled expiration (at the end of 2012) of the 2001 and 2003 Bush tax cuts, which could affect income inequality. This report examines changes in income inequality among tax filers between 1996 and 2006. In particular, the role of changes in wages, capital income, and tax policy is investigated."
  • December 30, 2011
    * FTC Sends Biennial Report to Congress on the National Do Not Call Registry

    News release: "The Federal Trade Commission has approved a biennial report to Congress focusing on the use of the Do Not Call Registry by both consumers and businesses over the past two years, as well as the impact that new technologies have had on the Registry. As detailed in the report, the Do Not Call Registry now has more than 209 million active registrations, and more than eight million new phone numbers were registered in Fiscal Year 2011. During that time, approximately 35,000 sellers, telemarketers, and exempt organizations such as charities subscribed to access the Registry, paying fees totaling more than $13.7 million. The report concludes that since its inception, the Registry has successfully accepted consumer registrations and complaints, allowed businesses to obtain access to Registry data, and provided law enforcement with the tools needed to investigate complaints and bring appropriate actions."

    December 26, 2011
    * DOD Annual Report on Sexual Harassment and Violence at the Military Service Academies Academic Program Year 2010-2011

    Department of Defense Annual Report on Sexual Harassment and Violence at the Military Service Academies Academic Program Year 2010-2011, Report to the Committee on Armed Services of the Senate and the Committee on Armed Services of the House of Representatives, released December 27, 2011

  • "While a number of challenges remain, the Department believes the greatest of these pertain to the prevention and reporting of sexual assault. Using survey and focus group data, the Department encourages the academies to employ their considerable academic and programmatic resources to implement meaningful, evidence-based prevention and reporting interventions. In addition, identifying and tracking key measurements over time will be critical to demonstrate to stakeholders the efforts underway at the MSAs [Military Service Academies]."
  • * CRS - U.S. Nuclear Cooperation with India: Issues for Congress

    U.S. Nuclear Cooperation with India: Issues for Congress, Paul K. Kerr, Analyst in Nonproliferation, December 15, 2011

  • "India, which has not signed the Nuclear Nonproliferation Treaty and does not have International Atomic Energy Agency safeguards on all of its nuclear material, exploded a “peaceful” nuclear device in 1974, convincing the world of the need for greater restrictions on nuclear trade. The United States created the Nuclear Suppliers Group (NSG) as a direct response to India’s test, halted nuclear exports to India a few years later, and worked to convince other states to do the same. India tested nuclear weapons again in 1998. However, President Bush announced July 18, 2005, he would “work to achieve full civil nuclear energy cooperation with India” and would “also seek agreement from Congress to adjust U.S. laws and policies,” in the context of a broader partnership with India...The Obama Administration has continued with the Bush Administration’s policy regarding civil nuclear cooperation with India. According to a November 8, 2010, White House fact sheet, the United States “intends to support India’s full membership” in the NSG, as well as other multilateral export control regimes."
  • December 22, 2011
    December 20, 2011
    * EPIC: Senate Open Investigation Into Google Search

    EPIC: "Senator Herb Kohl (D-WI) and Mike Lee (R-UT), Chairman and Ranking member of the Judiciary Antitrust Subcommittee, have sent a letter to FTC Chairman John Liebowitz, expressing concern about Google's business practices and the company's impact on competition in Internet search and commerce. In September, EPIC wrote to the FTC and described how Google biased YouTube search rankings to give preferential treatment to its own content following the acquisition of the Internet's largest video service provider. The EPIC letter preceded a Senate hearing on The Power of Google: Serving Consumers or Threatening Competition? EPIC testified before the Senate Antitrust Subcommittee in 2009 on Google's growing dominance of essential Internet services."

    December 19, 2011
    * CCH Tax Briefing - 2011 Tax Year-in-Review

    2011 Lays Groundwork For Tax Reform, Makes Important Changes Impacting 2012: "2011 had been predicted to be a quiet year in federal tax news – as it landed between major tax legislation in 2010 and expected tax reform in 2012 – but the year brought many significant tax developments from the Obama Administration, Congress, the Treasury Department, the IRS, and the courts. President Obama signed bills enacting hiring incentives, repealing three percent government withholding, and more. Congress initiated a national conversation on the pros and cons of tax increases, tax reform, and deficit reduction, which will frame tax proposals for 2012 and beyond. The IRS issued a steady stream of much-needed guidance for businesses and individuals, ratcheted up its attention on tax compliance, particularly in the international area, and continued its multi-prong initiative on return preparer oversight. Meanwhile, the Tax Court and other federal courts handed down decisions of their own, impacting rules for many other taxpayers. This Tax Briefing provides a review of the key tax law developments of 2011 and more."

    December 13, 2011
    * CBO Cost Estimate - H.R. 1905 Iran Threat Reduction Act of 2011

    H.R. 1905 - Iran Threat Reduction Act of 2011

  • "H.R. 1905 would amend and expand existing sanctions against Iran. CBO estimates that implementing the bill would have a discretionary cost of $128 million over the 2012-2016 period, assuming appropriation of the necessary amounts. In addition, enacting the bill would increase revenues by $57 million over the 2012-2021 period and have insignificant effects on direct spending; therefore, pay-as-you-go procedures apply. The sanctions contained in H.R. 1905 would be intergovernmental and private sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). CBO cannot determine whether the cost of complying with those mandates would exceed the annual threshold for private-sector mandates ($42 million in 2011, adjusted annually for inflation). We estimate that compliance costs would not exceed the threshold for intergovernmental mandates ($71 million in 2011, adjusted annually for inflation)."
  • December 12, 2011
    * Effects of Tax on Financial Transactions That Would Be Imposed by Wall Street Trading and Speculators Tax Act

    Response to Questions About the Effects of a Tax on Financial Transactions That Would Be Imposed by the Wall Street Trading and Speculators Tax Act, December 12. 2011

  • "The Impact of the Tax on Gross Domestic Product and U.S. Jobs - The tax’s effect on economic output in the United States would depend on several factors: how the tax would influence the amount and productivity of investment; how resources would be reallocated from the U.S. financial sector to other sectors of the economy and to overseas financial markets; and how the tax would alter the value of existing financial assets. In the short term, imposing the transaction tax would probably reduce output and employment. Beyond the first few years, however, the tax’s net impact on the economy is unclear."
  • December 09, 2011
    * Cost Estimate for H.R. 3630, Middle Class Tax Relief and Job Creation Act of 2011

    Cost Estimate for H.R. 3630, Middle Class Tax Relief and Job Creation Act of 2011 - December 9, 2011

  • "According to CBO’s and JCT’s estimates, enacting H.R. 3630 would change revenues and direct spending to produce increases in the deficit of
    $166.8 billion in fiscal year 2012 and $25.3 billion over the 2012-2021 period. Relative to discretionary spending projected under current law and assuming compliance with the current-law caps on discretionary appropriations for the next 10 years, CBO estimates that the proposed changes in discretionary funding caps under H.R. 3630 would lead to a reduction in projected discretionary spending of $26.2 billion over the 2012-2021 period."
  • December 05, 2011
    * Congressional Lawmaking: A Perspective On Secrecy and Transparency

    CRS - Congressional Lawmaking: A Perspective On Secrecy and Transparency - Walter J. Oleszek, Senior Specialist in American National Government, November 30, 2011

  • "Openness is fundamental to representative government. Yet the congressional process is replete with activities and actions that are private and not observable by the public. How to distinguish reasonable legislative secrecy from impractical transparency is a topic that produces disagreement on Capitol Hill and elsewhere. Why? Because lawmaking is critical to the governance of the nation. Scores of people in the attentive public want to observe and learn about congressional proceedings. Yet secrecy is an ever-present part of much legislative policymaking; however, secrecy and transparency are not “either/or” constructs. They overlap constantly during the various policymaking stages. The objectives of this report are four-fold:
    • first, to outline briefly the historical and inherent tension between secrecy and transparency in the congressional process;
    • second, to review several common and recurring secrecy/transparency issues that emerged again with the 2011 formation of the Joint Select Deficit Reduction Committee;
    • third, to identify various lawmaking stages typically imbued with closed door activities; and
    • fourth, to close with several summary observations."
  • December 01, 2011
    * Report of the Secretary of the Senate - receipts and expenditures of the Senate

    "The Legislative Branch Appropriations Act 2010 (P.L. No. 111-68) amended 2 U.S.C. 104(a), to require the posting of the semiannual report of the Secretary of the Senate on the Senate Web site. Since 1823, the Secretary of the Senate has published the semiannual statements covering the periods from October 1st to March 31st and April 1st to September 30th of each year. The first online report begins with the reporting period of April 1, 2011 to September 30, 2011. You may view the two volumes in a single file or in two separate files that correspond to the published version. The files have been digitally signed by the U.S. Government Printing Office (GPO). The technology used to certify these documents allows GPO to secure the data integrity and provides users with assurance that the content is unchanged since it was disseminated by GPO.

  • April 1, 2011 to September 30, 2011
  • November 29, 2011
    * Congress and Industry: Recent Studies Show EPA Air Rules Do Not Threaten Electric Reliability

    Recent Studies Show EPA Air Rules Do Not Threaten Electric Reliability, Committee on Energy and Commerce, Democratic Staff, November 2011.

  • "In November 2011, the North American Electric Reliability Corporation (NERC) and M.J. Bradley and Associates each released updated studies evaluating the effects of existing and upcoming EPA regulations to control pollution from power plants. These assessments are still based in large part on proposed, rather than final rules. Nevertheless, they provide substantial assurance that the nation can achieve significant air quality improvements from cleaning up old polluting power plants without threatening the reliability of electricity supplies."
  • November 22, 2011
    * CRS - Presidential Policy Directive 8 and the National Preparedness System: Background and Issues for Congress

    Presidential Policy Directive 8 and the National Preparedness System: Background and Issues for Congress, Jared T. Brown - Analyst in Emergency, Management and Homeland Security Policy, October 21, 2011

  • "Presidential Policy Directive 8: National Preparedness (PPD-8) was signed and released by President Barack Obama on March 30, 2011. PPD-8 and its component policies intend to guide how the nation, from the federal level to private citizens, can “prevent, protect against, mitigate the effects of, respond to, and recover from those threats that pose the greatest risk to the security of the Nation.” These threats include terrorist acts, natural disasters, and other man-made incidents. PPD-8 evolves from, and supersedes, Homeland Security Presidential Directive 8, which was released under President George W. Bush. PPD-8 is intended to meet many requirements of Subtitle C of the Post-Katrina Emergency Reform Act of 2006 (P.L. 109-295, 6 U.S.C. §741- 764)."

  • November 16, 2011
    * Legislative history of the Postal Accountability and Enhancement Act

    Legislative History of the Postal Accountability and Enhancement Act Public Law 109-435, James I. Campbell Jr.,
    September 2007. Includes a summary of the evolution of the bill over 10 years, the public law, congressional debates, most recent committee reports (and related bills), and presidential signing statement. 1077 pages.

    November 15, 2011
    * Policies for Increasing Economic Growth and Employment in 2012 and 2013

    Testimony, Congressional Budget Office, Statement of Douglas W. Elmendorf, Director - Policies for Increasing Economic Growth and Employment in 2012 and 2013, before the Committee on the Budget, United States Senate, November 15, 2011

  • "CBO expects real GDP to grow in the vicinity of 1˝ percent this calendar year (as measured by the change between the fourth quarter of 2010 and the fourth quarter of 2011) and around 2˝ percent next year. With modest growth in output, CBO expects employment to expand very slowly during the rest of this year and next year, leaving the unemployment rate close to 9 percent through the end of 2012. Weakness in the demand for goods and services is the principal restraint on hiring, but structural impediments in the labor market—such as a mismatch between the requirements of existing job openings and the characteristics of job seekers (including their skills and geographic location)—appear to be restraining hiring as well."
  • Related postings on financial system
  • November 12, 2011
    * FHFA Responds to Letter from Senators on Executive Compensation

    "FHFA Acting Director Edward J. DeMarco responded to a letter from numerous U.S. Senators [Committee on Banking, Housing and Urban Affairs - with a hearing scheduled for November 15, 2011] regarding executive compensation at Fannie Mae and Freddie Mac. Attached is the text of the letter...Losses at Fannie Mae and Freddie Mac (the Enterprises) have already resulted in more than $170 billion in taxpayer expense, and I consider it the most important part of my job to minimize any further taxpayer costs...By law, the conservatorships are intended to rehabilitate the Enterprises as private firms. Their officers are not public employees, and FHFA has used market compensation measures to target executive compensation at or below the median of comparable private sector positions at financial institutions roughly similar in size and/or complexity as the Enterprises."

  • Related postings on financial system
  • November 10, 2011
    * EBRI - Tax Reform Options: Promoting Retirement Security

    Tax Reform Options: Promoting Retirement Security by Jack VanDerhei, Employee Benefit Research Institute: "Currently, the combination of worker and employer contributions in a defined contribution plan is capped by the federal tax code at the lesser of $49,000 per year or 100 percent of a worker’s compensation (participants over age 50 can made additional “catch-up” contributions). As part of the effort to lower the federal deficit and reduce federal “tax expenditures,” two major reform proposals have surfaced that would change current tax policy toward retirement savings:

    • A plan that would end the existing tax deductions for 401(k) contributions and replace them with a flat-rate refundable credit that serves as a matching contribution into a retirement savings account.
    • The so-called “20/20 cap,” included by the National Commission on Fiscal Responsibility and Reform in their December 2010 report, The Moment of Truth, which would limit the sum of employer and worker annual contributions to the lower of $20,000 or 20 percent of income, the so-called “20/20 cap.”

    October 26, 2011
    * 112th Congress Gold Mouse Awards Released

    News release: "Congressional websites are getting better, according to an analysis by the Congressional Management Foundation (CMF). The nonprofit organization graded 618 congressional websites and found the most common grade moved from an F in the 111th Congress to a B in the 112th Congress. CMF has been grading congressional websites since 2001 and issues biannual Congressional Gold Mouse Awards for the best websites on Capitol Hill for each Congress. CMF conducted its analysis from June to September 2011...see the latest report - 112th Congress Gold Mouse Awards: Best Practices in Online Communications on Capitol Hill, [which] identified recent trends related to online communications in Congress, including:

    • A significant number of House and Senate Member websites lacked basic educational and transparency features including: links to bills sponsored and cosponsored, voting records, and basic information on how a bill becomes a law.
    • House Members taking office in January 2011 had significantly better websites than Senators taking office in January 2011, with 61% of new House Members receiving an A or B grade, compared to 31% of new Senators receiving a similar grade. Nearly half (46%) of new Senators received a grade of D or F, compared to 17% of new House Members.
    • While there was general parity overall in quality of websites between Democrats and Republican Member websites, the best websites tended to be Democratic Members.
    • View the full list of the 112th Congress Gold Mouse Award Winners

    October 25, 2011
    * CBO Testimony on Discretionary Spending, October 2011

    Discretionary Spending, October 26, 2011 - Testimony before the Joint Select Committee on Deficit Reduction, U.S. Congress

  • "Discretionary outlays—the part of federal spending that lawmakers generally control through annual appropriation acts—totaled about $1.35 trillion in 2011, or close to 40 percent of federal outlays. Slightly more than half of that spending was for defense. The remainder went for a wide variety of government programs and activities, with the largest amounts spent for education, training, employment, and social services; transportation; income security (mostly housing and nutrition assistance); veterans' benefits (primarily for health care); health-related research and public health; international affairs; and the administration of justice."
  • * EIA Analysis of Impacts of a Clean Energy Standard as requested by Chairman Hall

    "This report, Analysis of Impacts of a Clean Energy Standard - October 2011 - responds to a request from Chairman Ralph M. Hall for an analysis of the impacts of a Clean Energy Standard (CES). The request, as outlined in the letter included in Appendix A, sets out specific assumptions and scenarios for the study. A CES is a policy that requires covered electricity retailers to supply a specified share of their electricity sales from qualifying clean energy resources. Under a CES, electric generators would be granted clean energy credits for every megawatt-hour (MWh) of electricity they produce using qualifying clean energy sources. Utilities that serve retail customers would use some combination of credits granted to their own generation or credits acquired from other generators to meet their CES obligations. Generators without retail customers or utilities that generated more clean energy credits than needed to meet their own obligations could sell CES credits to other companies."

    October 19, 2011
    * CRS - Presidential Nominating Process: Current Issues

    Presidential Nominating Process: Current Issues. Kevin J. Coleman, Analyst in Elections, October 6, 2011.

  • "The presidential nominating calendar for 2012 is still unsettled, as some state and party officials continue to consider date changes for primaries and caucuses in response to recent scheduling changes. Consequently, the dates of the earliest contests in Iowa and New Hampshire are still unknown. These two states, along with South Carolina and Nevada, are exempt from both parties’ national rules that do not allow delegate selection contests to be held before the first Tuesday in March. On September 30, 2011, officials in Florida announced that the state will hold a January 31, 2012, primary, in violation of party rules, which prompted South Carolina and Nevada to schedule an unsanctioned event as well. South Carolina will hold its primary on January 21, and
    Nevada Republicans have scheduled party caucuses for January 14. States that violate the timing rules risk losing half their delegates."
  • October 18, 2011
    * CBO: Options for Changing the Tax Treatment of Charitable Giving

    Options for Changing the Tax Treatment of Charitable Giving, October 18, 2011 - Testimony before the Committee on Finance, United States Senate

  • "Under current law, taxpayers who itemize deductions may deduct the amount they donate to charities from their adjusted gross income (AGI) when determining how much they owe in federal income taxes. That deduction gives people who itemize an incentive to contribute to charities. Like other forms of preferential tax treatment, the deduction also costs the federal government revenues that it might otherwise collect. At current levels of charitable giving, the cost of that deduction—measured as the additional revenues that could be collected if the deduction was eliminated—will total about $230 billion between 2010 and 2014, according to the Joint Committee on Taxation (JCT)."
  • Present Law And Background Relating To The Federal Tax Treatment Of Charitable Contributions, JCX-55-11 (October 14, 2011)
  • October 12, 2011
    * FTC Testifies About the Interagency Working Group on Food Marketed to Children

    News release: "The Federal Trade Commission testified today before the U.S. House of Representatives on the agency’s efforts to help address childhood obesity through its participation in the Interagency Working Group on Food Marketed to Children. The Director of the FTC’s Bureau of Consumer Protection, David C. Vladeck, delivered the testimony on behalf of the FTC at a joint hearing held by the House Energy and Commerce Committee’s Subcommittee on Health and Subcommittee on Commerce, Manufacturing, and Trade. The testimony explains that the Interagency Working Group was convened in 2009 in response to a bipartisan effort led by Senator Tom Harkin and former Senator Sam Brownback. Congress charged the Working Group’s members – the Centers for Disease Control and Prevention, the FTC, the Food and Drug Administration, and the U.S. Department of Agriculture – with developing nutrition standards for foods marketed to children and defining the scope of marketing to which those standards would apply. In response to this charge, the Working Group has been developing recommendations to Congress for voluntary principles to guide industry self-regulation. As the member agency with marketing expertise, the FTC’s role has been to develop workable parameters to define children’s marketing."

    October 11, 2011
    * Federal Reserve Board seeks comment on proposal to implement "Volcker Rule" requirements of the Dodd-Frank Act

    News release: "The Federal Reserve Board on Tuesday requested public comment on a proposed regulation implementing the so-called "Volcker Rule" requirements of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 619 generally contains two prohibitions. First, it prohibits insured depository institutions, bank holding companies, and their subsidiaries or affiliates (banking entities) from engaging in short-term proprietary trading of any security, derivative, and certain other financial instruments for a banking entity's own account, subject to certain exemptions. Second, it prohibits owning, sponsoring, or having certain relationships with, a hedge fund or private equity fund, subject to certain exemptions. The act also prohibits banking entities from engaging in an exempted transaction or activity if it would involve or result in a material conflict of interest between the banking entity and its clients, customers, or counterparties, or that would result in a material exposure to high-risk assets or trading strategies, in each case as defined by the rule. The act similarly prohibits banking entities from engaging in an exempted transaction or activity if it would pose a threat to the safety and soundness of the banking entity or to the financial stability of the United States. The proposal, which was developed jointly with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading Commission, clarifies the scope of the act's prohibitions and, consistent with statutory authority, provides certain exemptions to these prohibitions. It is anticipated these agencies will issue a comparable proposal today or in the near future."

    * Levin Report Finds Offshore Tax Break Is a Failed Tax Policy Whose Repeat Could Damage the Economy

    News release: "Sen. Carl Levin, D-Mich., chairman of the Senate Permanent Subcommittee on Investigations, released a report today, Repatriating Offshore Funds: 2004 Tax Windfall for Select Multinationals, that found that the 2004 repatriation tax break that allowed U.S. companies to bring $312 billion in offshore earnings back to the United States at an extraordinarily low tax rate did not produce any of the promised benefits of new jobs or increased research expenditures to spur economic growth. The report looked at the top 15 repatriating companies and found that, instead of spurring jobs and economic stimulus, the tax break was instead associated with increased corporate stock buybacks and executive pay. The report also observed that the 5.25% tax rate created a competitive disadvantage for domestic businesses that chose not to engage in offshore operations or investments, and provided a windfall for multinationals in a few industries without benefiting the U.S. economy as a whole."

    October 01, 2011
    * Present Law, Data, And Analysis Relating To Tax Incentives For Homeownership

    Present Law, Data, And Analysis Relating To Tax Incentives For Homeownership, The Joint Committee on Taxation, September 30, 2011, JCX-50-11

  • "This document...provides general background on the tax incentives for homeownership. The first part of this document describes the tax provisions that offer incentives for homeownership. The second part provides a discussion of the economic incentives and data related to homeownership. Unless otherwise indicated, all section references are to the Internal Revenue Code of 1986, as amended (“the Code”)...The rate of homeownership, the fraction of all occupied housing units that are owner occupied, in the United States has averaged 65.1 percent over the last fifty years, fluctuating narrowly over a range from a low of 62.1 percent in 1960 to a peak of 69.0 percent in 2004. Based on one survey, the homeownership rate is 65.9 percent as of the end of the second quarter of 2011...Part two of this document includes a review of the economic literature related to identifying and measuring the externalities of
    homeownership."
  • See also related postings on financial system
  • September 29, 2011
    * Slaughter, 19 Colleagues, Call for Investigation into Justice Thomas’s Non-Disclosure

    News release: "Congresswoman Louise Slaughter, Ranking Member of the House Rules Committee, together with 19 Members of Congress, today sent a letter to the Judicial Conference, requesting that the Conference follow the law and refer the matter of Justice Clarence Thomas's non-compliance with the Ethics in Government Act of 1978 to the Department of Justice. Throughout his entire tenure on the Supreme Court, Justice Thomas has checked a box titled "none" on his annual financial disclosure forms, indicating that his wife had received no income, despite the fact that his wife had in fact earned nearly $700,000 from the Heritage Foundation from 2003-2007 alone."

    September 27, 2011
    * CRS: Intelligence Issues for Congress

    Intelligence Issues for Congress, Richard A. Best Jr., Specialist in National Defense, September 14, 2011

  • "Techniques for acquiring and analyzing information on small groups of plotters differ significantly from those used to evaluate the military capabilities of other countries, with a much higher need for situational awareness of third world societies. U.S. intelligence efforts are complicated by unfilled requirements for foreign language expertise. Intelligence on Iraqi weapons of mass destruction was inaccurate and Members have criticized the performance of the intelligence community in regard to current conditions in Afghanistan, Iran, and other areas. Improved analysis, while difficult to mandate, remains a key goal. Better human intelligence, it is widely agreed, is also essential, but very challenging to acquire. Intelligence support to military operations continues to be a major responsibility of intelligence agencies. The use of precision guided munitions depends on accurate, real-time targeting data; integrating intelligence data into military operations challenges traditional organizational relationships and requires innovative technological approaches."

  • September 22, 2011
    * CCH Tax Briefing on President Obama's Deficit Reduction Plan

    Obama Aims For $1.5 Trillion In New Tax Revenue To Reduce Deficit, September 21, 2011

  • "President Obama unveiled a $3 trillion federal budget Deficit Reduction Plan on September 19, 2011 including $1.5 trillion in tax increases. Th e President’s Deficit Reduction Plan (“Living Within Our Means and Investing in the Future: The President’s Plan For Economic Growth and Deficit Reduction”) makes good on his pledge to produce a balanced deficit reduction package, one that combines spending cuts with revenue raisers. Increased taxes on higher income individuals would account for a significant portion of the revenue raised under the President’s Deficit Reduction Plan. Other areas targeted for tax hikes include the oil, gas and coal industries, certain international activities and more."
  • * Patent Reform Unleashing Innovation, Promoting Economic Growth & Producing High-Paying Jobs

    House Committee on the Judiciary: Background on H.R. 1249, the America Invents Act: "On June 23 the House overwhelmingly approved HR 1249, the America Invents Act, by a vote of 304-117. H.R. 1249 updates our patent system to encourage innovation, job creation, and economic growth. The last major patent re­form was nearly 60 years ago. Since then, U.S. innovators have developed cell phones and launched the Internet. And yet the laws protecting the technologies of today are stuck in the past. The current system is bogged down by frivolous lawsuits and uncertainty regarding patent owner­ship. America’s innovators spend years and millions of dollars defending their claims to patent owner­ship. Meanwhile, our competitors are busy developing new products that expand their businesses and grow their economies. This year, for the first time, China is expected to become the world’s number one patent publisher, surpassing the U.S. and Japan in the total and basic number of patents. Our outdated patent system has become a barrier to innovation. We cannot expect America’s innovators and job creators to keep pace with the global marketplace with the patent system of the past. We need a system that ensures patent certainty, approves good patents quickly and weeds out bad patents effectively."

  • Patent Reform Unleashing Innovation, Promoting Economic Growth & Producing High-Paying Jobs, A White Paper from the U.S. Department of Commerce, April 13, 2010: "Stimulating economic growth and creating high-paying jobs are key priorities for the Obama Administration. This paper provides data demonstrating that technological innovation is a key driver of a pro-growth, job-creating agenda. It further demonstrates that patent reform legislation, by accelerating the pace of growth and of job creation, will be a powerful and deficit-neutral mechanism for expanding America’s ability to innovate."
  • September 20, 2011
    * China's Currency - An Analysis of Economic Issues

    CRS - China’s Currency: An Analysis of the Economic Issues - Wayne M. Morrison, Specialist in Asian Trade and Finance; Marc Labonte Specialist in Macroeconomic Policy, August 3, 2011

  • "China’s policy of intervening in currency markets to limit or halt the appreciation of its currency, the renminbi (RMB), against the U.S. dollar and other currencies has become an issue of concern for many in Congress. Critics charge that China’s currency policy is intended to make its exports significantly cheaper, and its imports more expensive, than would if the RMB were a freely traded currency. They contend that the RMB is significantly undervalued against the dollar and that this has been a major contributor to the large annual U.S. trade deficits with China and the loss of U.S. jobs in recent years. Some Members have urged the Obama Administration take a more aggressive stand against China over its currency policy, such as by designating it as a “currency manipulator” under U.S. trade law. Others have introduced legislation that would seek to counter the perceived effects of China’s currency policy on the U.S. economy. For example, in the 112th Congress, H.R. 639, S. 328, and S. 1130 would make certain exchange rate policies an actionable subsidy under U.S. countervailing duty cases."
  • September 19, 2011
    * The President’s Plan for Economic Growth and Deficit Reduction

    Living Within Our Means and Investing in the Future - The President’s Plan for Economic Growth and Deficit Reduction, September 19, 2011

  • "...The plan [The American Jobs Act - text included in this report] also realizes more than $1 trillion in savings over the next 10 years from our draw downs in Afghanistan and Iraq. And the plan calls for the Congress to undertake comprehensive tax reform that lowers tax rates, closes loopholes, boosts job creation here at home, cuts the deficit by $1.5 trillion, and observes the Buffett Rule—that people making more than $1 million a year should not pay a smaller share of their income in taxes than middle-class families pay. To assist the Committee in its work, I also included specific tax loophole closers and measures to broaden the tax base. Together with the expiration of the high-income tax cuts from 2001 and 2003, these measures would be more than enough to reach this $1.5 trillion target. They include cutting tax preferences for high-income households, eliminating tax breaks for oil and gas companies, closing the carried interest loophole for investment fund managers, and eliminating benefits for those who use corporate jets."
  • Fact Sheet: The American Jobs Act and the text of the American Jobs Act of 2011
  • September 18, 2011
    * FTC Seeks Comment on Proposed Revisions to Children's Online Privacy Protection Rule

    News release: "The Federal Trade Commission is seeking public comment on proposed amendments to the Children’s Online Privacy Protection Rule, which gives parents control over what personal information websites may collect from children under 13. The FTC proposes these amendments to ensure that the Rule continues to protect children’s privacy, as mandated by Congress, as online technologies evolve. The Commission proposes modifications to the Rule in five areas: definitions, including the definitions of “personal information” and “collection,” parental notice, parental consent mechanisms, confidentiality and security of children’s personal information, and the role of self-regulatory “safe harbor” programs."

    September 15, 2011
    * CCH Tax Briefing: President Proposes $447 Billion Jobs Package

    President Proposes $447 Billion Jobs Package, Updated: September 15, 2011: "President Obama has challenged Congress to immediately pass the American Jobs Act of 2011 – a $447 billion jobs package, including payroll tax cuts and tax credits to encourage hiring, along with extended 100 percent bonus depreciation, which would be paid for by limiting deductions for higher income taxpayers and changing the taxation of carried interest. The President described his jobs package during a speech to a Joint Session of Congress on September 8 and unveiled the legislative text on September 12."

    September 13, 2011
    * CBO - Confronting the Nation's Fiscal Policy Challenges September 13, 2011

    Confronting the Nation's Fiscal Policy Challenges, September 13, 2011. Testimony before the Joint Select Committee on Deficit Reduction, U.S. Congress

  • "The federal government is confronting significant and fundamental budgetary challenges. If current policies are continued in coming years, the aging of the population and the rising cost of health care will boost federal spending, as a share of the economy, well above the amount of revenues that the federal government has collected in the past. As a result, putting the federal budget on a sustainable path will require significant changes in spending policies, tax policies, or both. The task of addressing those formidable challenges is complicated by the weakness of the economy and the large numbers of unemployed workers, empty houses, and underused factories and offices. Changes that might be made to federal spending or tax policies could have a substantial impact on the pace of economic recovery during the next few years as well as on the nation’s output and people’s income over the longer term."
  • Related postings on financial system
  • September 12, 2011
    * Estimated Impact of Automatic Budget Enforcement Procedures Specified in the Budget Control Act September 12, 2011

    Estimated Impact of Automatic Budget Enforcement Procedures Specified in the Budget Control Act, September 12, 2011

  • "The Budget Control Act of 2011 (enacted on August 2 as Public Law 112-25) made several changes to federal programs and established budget enforcement mechanisms—including caps on future discretionary appropriations—that were estimated to reduce federal budget deficits by a total of at least $2.1 trillion over the 2012–2021 period. The caps on discretionary appropriations will decrease spending (including debt-service costs) by an estimated $0.9 trillion during that period, compared with what such spending would have been if annual appropriations had grown at the rate of inflation. At least another $1.2 trillion in deficit reduction was anticipated from provisions related to a newly established Congressional Joint Select Committee on Deficit Reduction. That committee is charged with proposing legislation to trim budget deficits by at least $1.5 trillion between 2012 and 2021. However, if legislation originating from the committee and estimated to produce at least $1.2 trillion in deficit reduction (including an allowance for interest savings) is not enacted by January 15, 2012, automatic procedures for cutting both discretionary and mandatory spending will take effect. The magnitude of those cuts would depend on any shortfall in the estimated effects of such legislation relative to the $1.2 trillion amount."
  • * American Jobs Act of 2011

    President Obama's message to Congress, and the text of American Jobs Act of 2011

  • The American people understand that the economic crisis and the deep recession were not created overnight and will not be solved overnight. The economic security of the middle class has been under attack for decades. That is why I believe we need to do more than just recover from this economic crisis -- we need to rebuild the economy the American way, based on balance, fairness, and the same set of rules for everyone from Wall Street to Main Street. We can work together to create the jobs of the future by helping small business entrepreneurs, by investing in education, and by making things the world buys. To create jobs, I am submitting the American Jobs Act of 2011 -- nearly all of which is made up of the kinds of proposals supported by both Republicans and Democrats, and that the Congress should pass right away to get the economy moving now. The purpose of the American Jobs Act of 2011 is simple: put more people back to work and put more money in the pockets of working Americans. And it will do so without adding a dime to the deficit."
  • S.1549: American Jobs Act of 2011 - via OpenCongres
  • September 10, 2011
    * Legislation Related to the Attack of September 11, 2001

    The Library of Congress - THOMAS: "This site was begun in September 2001 as a way of keeping the public readily apprised of legislation related to the terrorist attack on the United States that month. The selection, made by hand, is necessarily subjective, as the September 11th attack had a ripple effect on legislation in the second session of the 107th Congress, making boundaries difficult to draw. The site will not be updated after the conclusion of the 107th. Not included here are appropriations and authorization bills, which may include provisions relevant to our response to terrorism, but included are some bills related to bio-terrorism and not September 11th."

  • Bills & Joint Resolutions Signed Into Law | Other Resolutions Approved | Legislation With Floor Action | Legislation Without Floor Action
  • See also the 9/11 Commission Report and a continually updated topical set of related postings on 9/11
  • September 09, 2011
    * Tracking Dodd-Frank Wall Street Reform and Consumer Protection Act

    worldAtWork: Tracking Dodd-Frank Wall Street Reform and Consumer Protection Act (Updated September 8, 2011: "On Wednesday, July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act calls for sweeping reforms, not just for the financial services industry, but for all publicly-traded companies. With many of the provisions in this bill subject to forthcoming regulations and guidance, this page is dedicated to bringing you the most up-to-date information about regulations and guidance that have been issued that will affect the implementation of this bill."

    September 05, 2011
    * U.S. Postal Service in Crisis

    NYT: Postal Service Is Nearing Default as Losses Mount - "The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances."

  • Senate Hearing: September 6, 2011 - U.S. Postal Service in Crisis: Proposals to Prevent a Shutdown

  • September 01, 2011
    * FTC Publication Advises Parents of School-Age Children How to Limit Risks of ID Theft

    News release: "A new publication from the Federal Trade Commission, Protecting Your Child’s Personal Information at School, advises parents how to limit the risks of identity theft. It also explains the federal Family Educational Rights Privacy Act, which protects the privacy of student records and gives parents of school-age children the right to opt out of sharing contact information with third parties. In addition, the publication advises parents to ask their child’s school about its directory information policy, to learn about privacy policies of sports or music activities not formally sponsored by the school, and what to do if their child’s school experiences a data breach."

  • See also FTC Testifies on Children's Identity Theft
  • August 29, 2011
    * White House Infographic: Record Judicial Diversity, Record Judicial Delays

    "Creating a judicial pool for the 21st Century, one with intellect, fair-mindedness and integrity that resembles the nation that it serves, is a top priority for President Obama and his administration. In fact, the President’s nominations for federal judges embody an unprecedented commitment to expanding the racial, gender and experiential diversity of the men and women who enforce our laws and deliver justice...To better understand how the Senate delays are impacting American families and businesses, take a look at our infographic that explains the confirmation process and highlights the bottleneck."

    August 23, 2011
    * State Department Releases "Country Reports on Terrorism 2010"

    "Country Reports on Terrorism 2010 is an annual Congressionally mandated report that provides an assessment of trends and events in international terrorism that transpired from January 1 to December 31, 2010. Besides filling a Congressional requirement, this publication aims to enhance the public’s understanding of the international terrorist threat. The report focuses on policy-related assessments, country-by-country breakdowns of foreign government counterterrorism cooperation, and contains chapters on WMD terrorism, State Sponsors of Terrorism, Terrorist Safe Havens, and Foreign Terrorist Organizations. The report also includes a statistical annex prepared by the National Counterterrorism Center. The statistics show more than 11,500 terrorist attacks occurred in 72 countries during 2010, resulting in more than 13,200 deaths. Although the number of attacks rose by almost 5 percent from the previous year, the number of deaths declined for a third consecutive year, dropping 12 percent from 2009. For the second consecutive year, the largest number of reported attacks occurred in South Asia and the Near East, with more than 75 percent of the world’s attacks and deaths occurring in these regions."

    August 12, 2011
    * Privatization of GPO, Defunding of FDsys, and the Future of the FDLP

    Privatization of GPO, Defunding of FDsys, and the Future of the FDLP, by jajacobs

  • "On July 22, the House passed a bill that would remove funding for FDsys, reduce funding for GPO by 20%, and reduce funding for the Superintendent of Documents by 16% (Kelley). The House Report on the bill also directs the Government Accountability Office to conduct a study on "the privatization of the GPO" and the transfer of the Superintendent of Documents and the FDLP to the Library of Congress (page 25). The bill includes many other changes that are relevant to the dissemination of government information (see House Bill Questions Future of GPO and the comments to that post, and the stories in Library Journal and OMB Watch), but the ones related to FDsys and the privatization of the GPO are the ones which, if ultimately approved, would have the greatest negative impact on long-term free public access to government information. Passage of only some of these bad ideas would almost certainly result in a catastrophic loss of long-term access to and preservation of government information. These bad ideas are, however, only symptoms of a still bigger problem. There is, luckily, an obvious, logical path around all these threats."

  • August 11, 2011
    * Congressional Debt Super Committee Members Named

    WSJ: "A committee of 12 lawmakers -- three from each chamber and each party -- will try to find at least $1.2 trillion in deficit-reduction measures by the end of November. Nine of the members have been named so far."

    August 06, 2011
    * Upcoming hearing: The Power of Google: Serving Consumers or Threatening Competition?

    The Power of Google: Serving Consumers or Threatening Competition?” - Senate Judiciary Committee, Subcommittee on Antitrust, Competition Policy and Consumer Rights. DATE: September 21, 2011

    August 05, 2011
    * Public Interest Group Launches New House Ethics Committee Report Search Tool

    Sunlight Foundation: "The House Ethics Committee is responsible for investigating and making recommendations on the enforcement of House ethics rules. In an nod towards transparency, its reports and statements are published online -- but they are virtually unusable. The Committee publishes documents in an unsearchable PDF format, spreads them out over of 24 pages, and gives them impenetrable titles like "Statement of the Chairman and Ranking Minority Member." Search engines (like Google) cannot see the documents, and only the most patient will click on each link to see what's inside. We've taken all 120+ documents, made them searchable, and published them online in a database. Now every document from December 1998 until July 2011 can be searched -- at once. It's easy to find the 20 documents that refer to Rep. Rangel, or the 15 documents that refer to (former) Rep. DeLay, or anything else that you're looking for. The web tool DocumentCloud has made this all possible."

    August 02, 2011
    * Budget Control Act of 2011

    Budget Control Act of 2011 (Engrossed Amendment House - EAH)[S.365.EAH]. Pub. L. No. 112-25, 140 Stat. 240

  • Sovereign Default: Putting the United States’ Debt-Ceiling Debate in Context - Why Self Help Is the Only Option: "Justia columnist and U. Washington law professor Anita Ramasastry provides important background on the United States’ debt ceiling debate, explaining exactly why the United States—unlike other countries - has only one option when the risk of sovereign default looms: self help. Ramasastry first considers how other countries typically handle sovereign default or distress, then covers the reasons why the United States' situation is very different, and concludes by examining why there has been such a great need for Congress and President Obama to reach a resolution of this issue."
  • Moody’s Affirms US AAA Rating
  • Related postings on financial system
  • CCH Tax Briefing: Budget Control Act of 2011
  • August 01, 2011
    * House Committee Approves Controversial Measure to Require Data Retention for All Internet Users

    EPIC: "The House of Representatives Judiciary Committee voted to approve a bill that will require Internet Service Providers (ISPs) to retain data on every customer to allow the government to identify and track their online activity for one year. EPIC Director Marc Rotenberg testified against the bill at the subcommittee hearing, and his arguments were cited by committee members including Representative Jerrold Nadler (D-NY). After two days of deliberation, the bill was passed with an amendment to require ISPs to retain even more information: not only internet protocol addresses, but also customer names, addresses, phone records, type and length of service, and credit card numbers. This retention is a radical contradiction of the core American value that we are innocent until proven guilty, said Representative Jason Chaffetz (R-UT)."

    July 31, 2011
    * The U.S. Congressional Twitter Directory

    Via FearLess: "...Earlier this week, President Obama called on Americans to reach out to Congress regarding the debt-ceiling debacle. And a lot of people made their voices heard. The day after Obama's televised speech, the Capitol's switchboard was overwhelmed with 40,000 calls per hour and email traffic swamped congressional servers to a near halt. We searched online for an official Twitter directory for the United States Congress, but we couldn't find an updated and easy-to-use directory that contained links to Congressional members' Twitter handles. So we rolled up our sleeves and built the damn thing ourselves. Below you will find an alphabetical list of states with names of U.S. Congressmen and women. Each name links to the elected official's Twitter page. It's simple and efficient. Which makes it the complete opposite of Congress' ability to reach a compromise."

    * Spending Less, Spending Smarter: Recommendations for National Security Savings FY 2012 to FY 2021

    Deficit Reduction: $586.112 billion - "The Project On Government Oversight (POGO) and Taxpayers for Common Sense (TCS) have closely examined the defense budget for waste, fraud, and abuse and for programs in which there are cheaper yet effective alternatives or in which cancellation or delay poses an acceptable level of risk according to national security experts. The following list details more than $500 billion in deficit reductions, including cuts to wasteful weapons systems, limits on out-of-control contract spending, and reforms to costly entitlement programs. All of the recommendations save taxpayers’ money and maintain our national security. All budget estimates are 10-year projections or less, based on government or credible academic sources. We chose conservative estimates to avoid overstating the scale of the potential deficit reduction."

    July 29, 2011
    * NOAA - 'Federal Disaster Assistance Budgeting: Are We Weather-ready?'

    Federal Disaster Assistance Budgeting: Are We Weather-ready?, Testimony by Dr. Kathryn Sullivan, July 28, 2011

  • "The year 2011 has already established itself in the record books as an historic year for weather-related disasters and it is not over – in fact hurricane season is just getting underway. Just past the year’s midpoint, we have already seen eight $1-billion-plus disasters.. Total damages from weather- and water-related events since January for the United States are well over $32 billion and climbing (Lott, et al 2011). 2011 is tied for fifth as the deadliest tornado year for the United States since modern recordkeeping began in 1950, with 537 people killed so far. April 2011 ranks as the most active tornado month on record with 875 tornadoes, breaking the previous record of 542 set in 2003. More tornadoes occurred on April 27 of this year than any other day in the past 61 years. On May 22, a large portion of Joplin, Missouri was devastated by an EF-5 (winds greater than 200 mph) tornado, resulting in over 150 fatalities and over 1,000 persons injured. The Joplin tornado was the deadliest this year and is ranked 7th among the deadliest tornadoes in U.S. history."
  • July 27, 2011
    * Report - Congress needs to Overhaul U.S. Secrecy Laws and Increase Oversight of the Secret Security Establishment

    ACLU news release: "Today, we’re releasing a report, Drastic Measures Required: Congress needs to Overhaul U.S. Secrecy Laws and Increase Oversight of the Secret Security Establishment...we lay out the scope of the problem and analyze its unfortunate consequences for the operation of our government, for our national security, and for our democracy at large. The report asserts that Congress must overhaul U.S secrecy laws and increase its oversight of the secret security establishment in order to rein in the out-of-control secrecy that is poisoning our democracy. We present a number of detailed recommendations for how, exactly, Congress should act to reform the “state secrets privilege,” strengthen Congressional oversight of national security programs, and regulate the use of classification by the executive branch."

    * House Bill - No Money for GPO's Federal Digital System, Sharply Cuts Other Information Resources

    Library Journal: "On July 22, the House of Representatives passed H.R. 2551, the Legislative Branch Appropriations Act, 2012 by a vote of 252 - 159. Unless the Senate acts, the bill would reduce GPO's budget for FY12 by 20 percent to $108.1 million. Within the GPO budget is the appropriation for the Office of Superintendent of Documents' Salaries and Expenses, which funds the Federal Depository Library Program (FDLP). This appropriation would be reduced 16 percent, to $33.5 million, eliminating funding for the Federal Digital System (FDsys)."

  • OMB Watch: House Questions Future of Government Printing Office
  • Related postings on financial system
  • * New GAO Reports: Disability Insurance, Financial Education and Counseling, DOD Financial Management, Economic Development, Traffic and Vehicle Safety
    • Department of Veterans Affairs: Issues Related to Real Property Realignment and Future Health Care Costs, by Lorelei St. James, director, physical infrastructure issues, before the Senate Committee on Veterans’ Affairs. GAO-11-877T, July 27, 2011
    • Disability Insurance: SSA Can Improve Efforts to Detect, Prevent, and Recover Overpayments. GAO-11-724, July 27, 2011
    • Financial Education and Counseling Pilot Program. GAO-11-737R, July 27, 2011
    • DOD Financial Management: Numerous Challenges Must Be Addressed to Improve Reliability of Financial Information, by Asif A. Khan, director, financial management and assurance, before the Subcommittee on Readiness and Management Support, Senate Committee on Armed Services. GAO-11-835T, July 27, 2011
    • Economic Development: Efficiency and Effectiveness of Fragmented Programs Are Unclear, by William B. Shear, director, financial markets and community investment, before the Subcommittee on Economic Development, Public Buildings, and Emergency Management, House Committee on Transportation and Infrastructure. GAO-11-872T, July 27, 2011.
    • Traffic and Vehicle Safety: Reauthorization Offers Opportunities to Extend Recent Progress, by Susan Fleming, director, physical infrastructure issues, before the Subcommittee on Consumer Protection, Product Safety, and Insurance, Senate Committee on Commerce, Science, and Transportation. GAO-11-866T, July 27, 2011
    * USA.gov Links to Your Elected Officials

    Roll Call reported late in the evening on July 26, 2011 that Congressional websites and phone systems crashed after President Obama's speech on the debt ceiling. So via USA.gov, the following links to help you communicate with your elected officials,

    July 26, 2011
    * FTC Testifies on Consumer Protection and the Rent-to-Own Industry

    News release: "The Federal Trade Commission testified today on consumer protection issues relating to the rent-to-own industry. The testimony described the agency’s role in enforcing laws relating to financial issues, provided background on the rent-to-own industry, and described key findings of a 2000 report published by the FTC’s Bureau of Economics on the rent-to-own industry. The testimony was presented by Bureau of Consumer Protection Deputy Director Charles Harwood, who told the House of Representatives Financial Institutions and Consumer Credit Subcommittee of the Financial Services Committee that the rent-to-own industry – known as RTO – consists of dealers that rent products to consumers, with an option to buy. Typically, RTO agreements do not require a down payment or credit check, and provide consumers with immediate access to household goods for a weekly or monthly payment. They may be attractive to consumers who cannot afford a cash purchase, may be unable to qualify for traditional credit, or who want a product right away without the need to pay the full purchase price."

  • Related postings on financial system
  • July 24, 2011
    * Comparison of Medicare Provisions in Deficit and Debt Reduction Proposals

    Kaiser Family Foundation: "Many of the debt-reduction plans being considered by Congress and the Administration include proposals that would achieve substantial savings from the Medicare program over time. This updated side-by-side summary compares the key Medicare provisions found in five major debt-reduction plans put forward by the White House, Congress and independent, bipartisan commissions. The five plans are: the President's Framework for Shared Prosperity and Shared Fiscal Responsibility; the House Concurrent Budget Resolution; the Senate "Gang of Six" Proposal; the National Commission on Fiscal Responsibility and Reform (Bowles-Simpson); and the Bipartisan Policy Center Debt Reduction Task Force (Domenici-Rivlin). The summary also includes brief descriptions of Medicare proposals in other deficit reduction proposals from American Enterprise Institute; Cato Institute; Center for American Progress, Sen. Tom Coburn; Congressional Progressive Caucus; Dr. Bill Galston and Ms. Maya MacGuineas; Heritage Foundation; Institute for America's Future; Sen. Joseph Lieberman and Sen. Coburn; Our Fiscal Security; Dr. Alice Rivlin and Chairman Paul Ryan; Republican Study Committee; Roosevelt Institute Campus Network; and Chairman Ryan."

    July 14, 2011
    * New GAO Reports: Children's Television Act, Defense Logistics, DOD Civilian Personnel, Dodd-Frank Act, EPA Health Risk Assessments
    • Children's Television Act: FCC Could Improve Efforts to Oversee Enforcement and Provide Public Information, GAO-11-659, July 14, 2011
    • Commonwealth of the Northern Mariana Islands - Status of Transition to Federal Immigration Law, GAO-11-805T, July 14, 2011
    • Defense Logistics: Oversight and a Coordinated Strategy Needed to Implement the Army Workload and Performance System, GAO-11-566R, July 14, 2011
    • DOD Civilian Personnel: Competency Gap Analyses and Other Actions Needed to Enhance DOD's Strategic Workforce Plans, GAO-11-827T, July 14, 2011
    • Dodd-Frank Act: Eleven Agencies' Estimates of Resources for Implementing Regulatory Reform, GAO-11-808T, July 14, 2011
    • EPA Health Risk Assessments: Sustained Management and Oversight Key to Overcoming Challenges, GAO-11-824T, July 14, 2011
    • Information Technology: Continued Attention Needed to Accurately Report Federal Spending and Improve Management, GAO-11-831T, July 14, 2011
    • Patient Protection and Affordable Care Act: Contracts Awarded and Consultants Retained by Federal Departments and Agencies to Assist in Implementing the Act, GAO-11-797R, July 14, 2011.
    • DHS Science and Technology: Additional Steps Needed to Ensure Test and Evaluation Requirements Are Met, GAO-11-596, July 14, 2011
    July 10, 2011
    * NPR: The Cost Of Owning 150,000 Foreclosed Homes

    NPR: "When you are the nation's largest owner of foreclosed homes, even little things can get expensive fast. Such is the case for mortgage giant Fannie Mae, which as of March 31 had a mind-boggling 153,000 foreclosed homes on its books...In just the first quarter of this year, Fannie racked up $488 million in foreclosure-related expenses, including holding costs (insurance, taxes and maintenance); valuation adjustments for changes in market value; gains/loss when the property is sold; legal fees; eviction costs; weatherization costs to prevent the pipes from bursting; costs to secure the property; and repair costs."

  • CBO: The Budgetary Cost of Fannie Mae and Freddie Mac and Options for the Future Federal Role in the Secondary Mortgage Market
  • Related postings on financial system
  • July 06, 2011
    * State-by-State Impact of Cuts to Highway Infrastructure Investment

    State-by-State Impact of Cuts to Highway Infrastructure Investment, The information in this table was prepared by the Federal Highway Administration (FHWA).

    July 03, 2011
    * Legislation Will Reduce Number of Positions Requiring Full Senate Confirmation By 169 Positions, Reducing Gridlock

    News release: "[June 29, 2011] U.S. Senators Charles E. Schumer (D-NY), Lamar Alexander (R-TN), Joe Lieberman (ID-CT) and Susan Collins (R-ME) announced the Senate’s passage of bipartisan legislation to clear the backlog of stalled executive nominations by permanently exempting a range of positions from Senate confirmation. The legislation, which passed 79 to 20, will reduce gridlock and increase the productivity of the Senate. The legislation now moves to the House of Representatives, where it is expected to pass. Once enacted into law, the bill would eliminate the need for the Senate to vote on roughly 170 executive nominations and 3,000 noncontroversial Officer Corps positions. In all, the bill, combined with a separate Senate resolution that was also expected to pass today, reduces or streamlines the number of positions requiring full Senate confirmation by one-third...A list of positions exempted from Senate confirmation—sorted by the Senate committee of jurisdiction—appears in this release."

    June 30, 2011
    * FTC: Consumer Confidence in Internet Marketplace Depends on Privacy Protections

    News release: "The Federal Trade Commission told Congress that consumers must be confident that their privacy will be protected if they are to be willing to take advantage of all the benefits offered by the Internet marketplace. Commission testimony to the Senate Committee on Commerce, Science and Transportation, delivered by Commissioner Julie Brill, states that, “Privacy has been an important component of the Commission’s consumer protection mission for 40 years. During this time, the Commission’s goal in the privacy arena has remained constant: to protect consumers’ personal information and ensure that they have the confidence to take advantage of the many benefits offered by the dynamic and ever-changing marketplace.”

  • "Ioana Rusu, regulatory counsel for Consumers Union, the nonprofit publisher of Consumer Reports, shared new poll results when she testified at a Senate committee hearing on online privacy and data security tomorrow. A May poll conducted by Consumer Reports shows that two-thirds of consumers feel that the government should be involved with safeguarding their online privacy, while 81 percent of respondents agreed that they should be able to permanently opt out of Internet tracking from a single location."
  • June 26, 2011
    * Technical Advancements and Issues Associated with the Permanent Disposal of High-Activity Wastes: Lessons Learned from Yucca Mountain

    Technical Advancements and Issues Associated with the Permanent Disposal of High-Activity Wastes: Lessons Learned from Yucca Mountain and Other Programs, A Report to Congress and the Secretary of Energy by the U.S. Nuclear Waste Technical Review Board, June 2011.

  • This report is not meant to be an assessment of the licenseability of a Yucca Mountain repository. If licensing goes forward, the Nuclear Regulatory Commission will determine whether a license should be granted. But, as President Harry S Truman astutely observed, “…there is nothing new in the world except the history you do not know.” The purpose of this report, then, is to extract from the history of the Yucca Mountain program, and to a lesser degree from other programs, some of the technical “lessons learned” that may apply to future U.S. programs for waste management and waste disposal."
  • June 24, 2011
    * CBO's 2011 Long-Term Budget Outlook: Testimony Before the House Budget Committee

    CBO's 2011 Long-Term Budget Outlook: Statement of Douglas W. Elmendorf before the Committee on the Budget U.S. House of Representatives, June 23, 2011

  • "As the economy continues to recover and the policies adopted to counteract the recession phase out, budget deficits will probably decline markedly in the next few years. But the budget outlook, for both the coming decade and beyond, is daunting. The retirement of the baby-boom generation portends a significant and sustained increase in the share of the population receiving benefits from Social Security, Medicare, and Medicaid. Moreover, per capita spending for health care is likely to continue rising faster than spending per person on other goods and services for many years (although the magnitude of that gap is very uncertain). Without significant changes in government policy, those factors will boost federal outlays sharply relative to GDP in coming decades under any plausible assumptions about future trends in the economy, demographics, and health care costs."
  • June 22, 2011
    * The Orderly Liquidation of Lehman Brothers Holdings Inc. under the Dodd-Frank Act

    The Orderly Liquidation of Lehman Brothers Holdings Inc. under the Dodd-Frank Act, FDIC Quarterly, Early release for the upcoming 2011, Volume 5, No. 2

  • "The bankruptcy filing of Lehman Brothers Holdings Inc. (Lehman or LBHI) on September 15, 2008, was one of the signal events of the financial crisis. The disorderly and costly nature of the LBHI bankruptcy — the largest, and still ongoing, financial bankruptcy in U.S. history — contributed to the massive financial disruption of late 2008. This paper examines how the government could have structured a resolution of Lehman under the orderly liquidation authority of Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and how the outcome could have differed from the outcome under bankruptcy."
  • June 21, 2011
    * Preemptions in Federal Legislation in the 111th and Previous Congresses

    CBO: Preemptions in Federal Legislation in the 111th and Previous Congresses, June 21, 2011

  • "This supplement to the Congressional Budget Office’s (CBO’s) series of publications reporting on federal mandates, as defined by the Unfunded Mandates Reform Act of 1995, focuses on preemptions, a type of mandate that would limit the authority of state, local, or tribal governments to apply and enforce their own laws. The report discusses the nature of federal preemptions and identifies preemptive language in legislation considered by the 111th Congress; it also outlines the policy areas most affected by those proposed federal requirements and presents data about other preemptions CBO has identified since 2001."
  • June 20, 2011
    * Report to Congress on Arctic Operations and the Northwest Passage

    News release: "The Defense Department has sent to Congress a report on its Arctic operations that leaders say will put the department in a good position to shape U.S. interests as the region undergoes dramatic climate and social changes. The Report to Congress on Arctic Operations and the Northwest Passage, mandated by the fiscal 2011 National Defense Authorization Act, “was true value added” to U.S. policies on the Arctic, a DOD official speaking on background said June 3 when the report was sent to Congress." From the Summary: "This report responds to House Report 111-491, page 337, to accompany H.R. 5136, the National Defense Authorization Act for Fiscal Year 2011, which requested the Department of Defense (DoD) provide a report on Arctic operations addressing strategic national security objectives, needed mission capabilities, an assessment of changing the Unified Command Plan (UCP), needed basing infrastructure, and the status of and need for icebreakers.

    • Section One provides the overarching context for the rest of the report and assesses the national security objectives in the region.
    • Section Two assesses the capabilities needed to support the identified strategic objectives and, where gaps are identified, describes mitigation approaches to address them.
    • Section Three assesses the advantages and disadvantages of amending the Unified Command Plan to designate a single Combatant Commander for the Arctic region.
    • Section Four assesses the basing infrastructure needed to support the identified strategic objectives, including the need for a U.S. deep-water port in the Arctic.
    • Section Five assesses the status of and need for icebreakers in the context of the capabilities to support national security objectives.
    • The Arctic is warming on average twice as fast as the rest of the planet, resulting in increased human activity in the region. Although some perceive that competition for resources and boundary disputes may result in conflict in the Arctic, the opening of the Arctic also presents opportunities to work collaboratively in multilateral forums to promote a balanced approach to improving human and environmental security in the region."
    June 15, 2011
    * Recent Testimony of Federal Reserve Officials
    • June 16, 2011 - Governor Daniel K. Tarullo - Capital and liquidity standards - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.
    • June 15, 2011 - Michael R. Foley, Senior Associate Director, Division of Banking Supervision and Regulation, Banking supervision - Before the Subcommittee on Financial Institutions and Consumer Protection, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
    • June 15, 2011 - Michael S. Gibson, Senior Associate Director, Division of Research and Statistics ,Implementation of Title VII of the Dodd-Frank Act, Before the Committee on Agriculture, Nutrition, and Forestry, U.S. Senate, Washington, D.C.
    * Congress Should Enact Data Security and Breach Notification Law, FTC Says

    News release: "The Federal Trade Commission told Congress today during a hearing that to minimize the risk of identity theft or other harm, companies should employ reasonable safeguards to protect consumer information, collect only information for which they have a legitimate business need, and retain data only as long as necessary to fulfill the business purposes for which it was collected. The FTC also reiterated its recommendation that Congress pass legislation that would require companies to implement reasonable security practices and to notify consumers when there is a data security breach...The Commission expressed its support for federal legislation that would require companies to put reasonable data security policies and procedures in place, and to notify consumers when there has been a data security breach that affects them. The testimony notes that the Committee’s “Discussion Draft” of data security legislation accomplishes these key goals. The testimony highlights several other elements of the Discussion Draft, which gives the Commission authority to use the standard APA notice and comment procedures for rulemaking in connection with the legislation, provides for civil penalties for violations, and requires non-profit entities to adhere to the same data security and breach notification standards as for-profit entities."

    June 13, 2011
    * House Appropriations Committee Report - Full Committee Print of the Department of Defense Appropriations for Fiscal 2012

    House of Representatives Committee on Appropriations, FY 2012 Defense Bill - Report

  • "The President’s fiscal year 2012 budget request for activities funded in the Department of Defense Appropriations Act totals $538,940,292,000 in new budget obligational authority for the base military bill...The Committee recommendation for the fiscal year 2012 Department of Defense base budget is $530,024,959,000, which is $8,915,333,000 below the request. The Committee recommendation for overseas contingency operations is $118,684,277,000, which is $841,526,000 above the request. This increase is mostly attributable to the transfer of the Pakistan Counterinsurgency Fund from the Subcommittee on State/Foreign Operations to the Subcommittee on Defense."
  • * SEC Guide - Implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act

    Implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act: "This law creates a new, more effective regulatory structure, fills a host of regulatory gaps, brings greater public transparency and market accountability to the financial system and gives investors important protections and greater input into corporate governance." — SEC Chairman Mary L. Schapiro

    * GPO Releases Congressional Pictorial Directory: 112th Congress

    "The U.S. Government Printing Office (GPO) has made available the Congressional Pictorial Directory: 112th Congress on GPO’s Federal Digital System (FDsys), a one-stop site to authentic, published Government information. GPO employees designed and created the Pictorial Directory, which features a color photograph of each Member of the House of Representatives and the Senate and details each Member’s length of service, political party affiliation, and congressional district. The Pictorial Directory also contains pictures of the President, Vice President, and House and Senate officers and officials."

    June 11, 2011
    * Hatch Releases Analysis Outlining Questionable Legality of Physician Owned Entities

    News release: "U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, released a Committee Minority analysis, Physician Owned Distributors (PODs): An Overview of Key Issues and Potential Areas for Congressional Oversight, detailing a spike in the utilization of medical procedures by physicians invested in these entities. Citing these concerns, Hatch spearheaded two separate bipartisan letters to the Centers for Medicare and Medicaid Services (CMS) and the U.S. Department of Health and Human Services (HHS) Inspector General calling for an investigation. This analysis, conducted by the Senate Finance Committee Minority staff, examines the structure and activities of physician owned distributorships (PODs) within the medical device supply chain. In recent years, there has been an uptick in these arrangements, which allow physician investors to purchase ownership shares in an entity that, in turn, purchases or serves as a medical device distributor for the products the physician utilizes in surgery. Hatch’s analysis, which identifies the rapid proliferation of PODs in at least 20 states, exposes the lack of specific legal guidance issued by the Office of Inspector General for HHS to govern the structure and establishment of PODs and brings into question the utilization and appropriateness of services provided by doctors participating in some of the PODs, particularly with respect to Medicare, which is funded by taxpayers. The Senate Finance Committee has jurisdiction over Medicare and Medicaid."

    June 08, 2011
    * Evaluating U.S. Foreign Assistance to Afghanistan - Senate Foreign Relations Committee Report

    Evaluating U.S. Foreign Assistance to Afghanistan - A Majority Staff Report Prepared for the Use of the Committee on Foreign Relations, U.S. Senate, 112th Congress, First Session, June 8, 2011

  • "Today, the United States spends more on foreign aid in Afghanistan than in any other country, including Iraq. After 10 years and roughly $18.8 billion in foreign aid, we have achieved some real successes. There has been a sevenfold increase in the number of children attending school and significant improvements in health care. But we should have no illusions. Serious challenges remain that will prevent us from achieving our goals unless they are addressed...other actors, such as the U.S. military or other donors. The theme echoed throughout this report is that our strategies and projects should meet the conditions of being necessary, achievable, and sustainable before funding is allocated. The report describes how these principles have been applied in practice through the cases of the National Solidarity Program and Basic Package of Health Services (Case Study A) and the ongoing effort to improve sub-national governance through the Performance-Based Governors Fund (Case Study B)."
  • See also the National Priorities Project - Cost of War Counters: Cost of War to the United States; Cost of War in Iraq; Cost of War in Afghanistan
  • June 07, 2011
    * Feinstein, Grassley Release Senate Caucus on International Narcotics Control Report on Mexico

    News release: "U.S. Senators Dianne Feinstein (D-Calif.) and Chuck Grassley (R-Iowa), co-chairs of the Senate Caucus on International Narcotics Control released a report outlining key steps and initiatives to combat Mexico’s brutal drug trafficking organizations and reduce violence in the country. The report, U.S. and Mexican Responses to Mexican Drug Trafficking Organizations, is endorsed by all seven Members of the Senate Caucus on International Narcotics Control and makes several recommendations for the U.S. government. The report synthesizes information gathered through a country visit, briefings, interviews, and a review of documents from both government and non-government subject matter experts."

  • "The southwest border is the primary route for the transfer of illicit drug proceeds fueling Mexico’s drug trafficking organizations. According to the National Drug Intelligence Center, Mexican and Colombian drug trafficking organizations “annually generate, remove, and launder between $18 billion and $39 billion in wholesale distribution proceeds”, much of it across the Southwest border. Trucks filled with bulk cash literally are being driven across the U.S. – Mexico border to fund the drug trafficking organizations."
  • June 06, 2011
    * EPIC: House Passes Budget for TSA, Cuts Funding for Body Scanners

    Follow up to previous postings on government implementation of whole body scanning technology at airports, via EPIC: "The House has approved the 2012 budget for the Transportation Security Administration, cutting $270 million from the amount originally requested by the Agency. The cuts include $76 million that had been designated for the purchase of 275 airport body scanners. Leading lawmakers and activists have called attention to the health risks associated with the scanners, as well as their invasiveness. Representative Jason Chaffetz (R-UT) criticized the machines as “slow” and “ineffective.”

    June 02, 2011
    * CRS - Geospatial Information and Geographic Information Systems (GIS): An Overview for Congress

    Geospatial Information and Geographic Information Systems (GIS): An Overview for Congress, Peter Folger - Specialist in Energy and Natural Resources Policy. May 18, 2011

  • "Geospatial information is data referenced to a place—a set of geographic coordinates—which can often be gathered, manipulated, and displayed in real time. A Geographic Information System
    (GIS) is a computer data system capable of capturing, storing, analyzing, and displaying geographically referenced information. The federal government and policy makers increasingly use geospatial information and tools like GIS for producing floodplain maps, conducting the census, mapping foreclosures, congressional redistricting, and responding to natural hazards such as wildfires, earthquakes, and tsunamis. For policy makers, this type of analysis can greatly assist in clarifying complex problems that may involve local, state, and federal government, and affect businesses, residential areas, and federal installations. Examples of how GIS and geospatial data are used within and outside the federal government are growing rapidly. In this report, a few examples are provided that describe the real-time or near real-time data analysis in the case of a California wildfire; policy analysis in support of a Base Realignment and Closure decision in Virginia Beach; and analysis of foreclosure patterns using census and other data for the New York City area. An additional example is provided demonstrating the burgeoning interaction of GIS and social media. In this case, Japanese citizens collected and provided census records, maps, and other information—a variant of “crowdsourcing”— to a GIS team. The team assembled the information into data layers supporting an interactive map to assist humanitarian organizations working in areas of Japan damaged by the March 11, 2011, earthquake and tsunami."

  • May 29, 2011
    * Reauthorization of PATRIOT Act on Deadline

    RollCall: "After two days of wrangling and last-minute deal-making in the Senate, Congress cleared a reauthorization of the USA PATRIOT Act on Thursday, and the Obama administration announced that the president signed the bill into law before provisions of the anti-terrorism act expired at midnight. A standoff over amendments in the Senate ate into the time needed to fly the enrolled bill to President Barack Obama, who is traveling in Europe. Instead of physically signing the bill, Obama planned to direct the use of an autopen to sign it, White House spokesman Nick Shapiro said in an email shortly after the House cleared the bill. “Failure to sign this legislation poses a significant risk to U.S. national security,” Shapiro said in the email. Autopens generate a facsimile of an individual’s signature and are frequently used by Members of Congress for signing constituent correspondence and other letters. The Justice Department’s Office of Legal Counsel advised in 2005 that the president may sign a bill by autopen."

    May 26, 2011
    * House of Representatives: Audit of the Financial Statements For the Fiscal Year Ended September 30, 2009

    Audit of the Financial Statements For the Fiscal Year Ended September 30, 2009 Report No. 11-HSW-03 May 26, 2011

    May 22, 2011
    * SEC Proposes Rules to Increase Transparency and Improve Integrity of Credit Ratings

    Fact Sheet: "The Securities and Exchange Commission [May 18, 2011] voted unanimously to propose new rules and amendments intended to increase transparency and improve the integrity of credit ratings. The proposed rules would implement certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and enhance the SEC’s existing rules governing credit ratings and Nationally Recognized Statistical Rating Organizations (NRSROs). “In passing the Dodd-Frank Act, Congress noted that credit ratings applied to structured financial products proved inaccurate and contributed significantly to the mismanagement of risks by financial institutions and investors,” said SEC Chairman Mary L. Schapiro. “Our proposed rules are intended to strengthen the integrity and improve the transparency of credit ratings.” Under the SEC’s proposal, NRSROs would be required to:

    • Report on internal controls.
    • Protect against conflicts of interest.
    • Establish professional standards for credit analysts.
    • Publicly provide – along with the publication of the credit rating – disclosure about the credit rating and the methodology used to determine it.
    • Enhance their public disclosures about the performance of their credit ratings.
    • The SEC’s proposal also requires disclosure concerning third-party due diligence reports for asset-backed securities."
  • May 20, 2011
    * New Report: More Than 20 Million Americans Denied Access to Jobs & Economic Opportunity Within Broadband Economy

    News release: "The latest Broadband Progress Report to Congress from the Federal Communications Commission reveals that approximately 26 million Americans, mostly in rural communities located in every region of the country, are denied access to the jobs and economic opportunity made possible by broadband. While the infrastructure of high-speed Internet is unavailable to those Americans, the FCC report also finds that approximately one-third of Americans do not subscribe to broadband, even when it's available. This suggests that barriers to adoption such as cost, low digital literacy, and concerns about privacy remain too high. The Report also notes limited broadband capacity for schools and libraries as a further indicator that broadband is not being reasonably and timely deployed and is not available to all Americans. Without action by the FCC in partnership with the states and the private sector, prospects for broadband service in many of the areas cited in the Report will remain unacceptably low. The Report finds the problem especially acute among low-income Americans, African-Americans, Hispanics, seniors, and residents of Tribal areas. Congress recognized the importance of broadband in Section 706 of the Telecommunications Act of 1996, which directs the FCC to take immediate action to accelerate broadband deployment when it is not "reasonable and timely."

    May 18, 2011
    * Treasury Issues Backgrounders on Raising the Debt Limit

    News release: "The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past. Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession."

    May 17, 2011
    * CBO - The Highway Trust Fund and Paying for Highways

    The Highway Trust Fund and Paying for Highways - May 17, 2011, - Testimony before the Committee on Finance, United States Senate

  • "The United States spends about $160 billion annually on highways, with about one-fourth of that total, or roughly $40 billion, coming from the federal government. Federal highway spending is funded mainly through taxes on gasoline and other
    motor fuels that accrue to the Highway Trust Fund. In recent years, the Congress has spent more on highways than the revenues accruing to the fund for that purpose, and it has supplemented the trust fund’s balance with money from the general fund of the Treasury."
  • May 14, 2011
    May 12, 2011
    * Obama Administration Unveils its Cybersecurity Legislative Proposal

    "...the Administration has transmitted a cybersecurity legislative proposal to Capitol Hill in response to Congress’ call for assistance on how best to address the cybersecurity needs of our Nation. This is a milestone in our national effort to ensure secure and reliable networks for Americans, businesses, and government; fundamentally, this proposal strikes a critical balance between maintaining the government’s role and providing industry with the capacity to innovatively tackle threats to national cybersecurity. Just as importantly, it does so while providing a robust framework to protect civil liberties and privacy."

    May 10, 2011
    * FTC Testifies on Protecting Consumers' Privacy on Mobile Devices

    News release: "The Federal Trade Commission today told Congress that “the Commission is committed to protecting consumers’ privacy in the mobile sphere” by bringing enforcement actions where appropriate and “by working with industry and consumer groups to develop workable solutions that protect consumers while allowing innovation in this growing marketplace.” In Commission testimony before the Senate Judiciary Committee Subcommittee for Privacy, Technology and the Law, Jessica Rich, Deputy Director in the FTC’s Bureau of Consumer Protection said the FTC has been examining mobile and wireless issues since 2000, when the agency hosted a workshop on emerging wireless Internet and data technologies and the privacy, security, and consumer protection issues they raise. The FTC also hosted a technology forum in 2006 that featured mobile issues, two Town Halls to explore the use of radio frequency identification technology and its integration into mobile devices, and a forum in 2008 examining consumer protection issues in the mobile sphere. In addition, the FTC has taken law enforcement actions against companies that fail to protect the privacy and security of consumer information. The testimony highlighted four recent cases that illustrate how the FTC’s authority applies to the mobile arena. The FTC’s case against Google alleges that the company deceived consumers by using information collected from Gmail users to generate and populate a new social network, Google Buzz, without users’ consent. As part of the proposed settlement order, Google must protect the privacy of all of its customers – including mobile users."

    May 09, 2011
    * Facts on the Production of the Congressional Record

    FDLP Listserv: "On March 17, Public Printer Bill Boarman testified before the Senate appropriations subcommittee on the costs of producing Federal publications, such as the Congressional Record. Subsequently, the U.S. Government Printing Office (GPO) made a YouTube video on the production of the Congressional Record to illustrate the production process for this important publication. With origins in the requirement of Article I of the Constitution that "Congress shall keep a journal of its proceedings...and from time to time publish the same," the Congressional Record contains the proceedings and debates of the Senate and House of Representatives. It has been called "a symbol of our democracy through which the people may observe the making of their laws and may hold their lawmakers accountable for their words and deeds."

    April 29, 2011
    * Four Major Communications Carriers Respond to Questions About Customer Data Collection

    The big four phone carriers spill on their location and customer data collection policies: "The recent uproar over location tracking in smartphones has gotten ugly and fingers are bound to be pointed. But in the spirit of transparency, the four major carriers have outlined and detailed their location tracking applications s well as what exactly that data is being used for. The honesty does come as a response to the revelation that iPhones, Android devices, and Windows Phone 7 units are tracking user location."

  • Markey, Barton Respond to Wireless Companies - Follows Inquires of Apple Collection of Personal Location Information by iPhones, iPads: "Congressmen Edward Markey (D-Mass.) and Joe Barton (R-Tex.) today released the responses from the four major U.S. wireless carriers – AT&T, Verizon, Sprint, and T-Mobile – after the lawmakers wrote to the companies inquiring about their data collection, storage and disclosure practices for customers’ personally identifiable information. Reps. Markey and Barton, co-Chairmen of the House Bi-Partisan Privacy Caucus, wrote to the wireless carriers in response to a New York Times report that a German mobile phone company tracked the locations and destinations of one of its customers, including latitude and longitude coordinates. “The responses of the wireless carriers provide important insights into how each company collects, uses and stores personal location data, including examples of how consumers can grant or withhold consent when location-based services are utilized,” said Rep. Markey. “Consumer consent and control are critical to ensure adequate privacy protections, and the responses shine a light on the various methods used to safeguard consumers’ sensitive information."
  • April 28, 2011
    * The Orderly Liquidation of Lehman Brothers Holdings under the Dodd-Frank Act

    The Orderly Liquidation of Lehman Brothers Holdings under the Dodd-Frank Act, April 18, 2011

  • "The report examines how the FDIC could have structured an orderly resolution of Lehman Brothers Holdings Inc. under the orderly liquidation authority of Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act had that law been in effect in advance of Lehman's failure."
  • * SEC Proposes Product Definitions for Swaps

    Fact sheet: "The Securities and Exchange Commission voted unanimously to propose rules further defining the terms “swap,” “security-based swap,” and “security-based swap agreement.” The Commission also proposed rules regarding “mixed swaps” and books and records for “security-based swap agreements.” The rules were proposed jointly with the Commodity Futures Trading Commission (CFTC) and stem from the Dodd-Frank Wall Street Reform and Consumer Protection Act."

    April 26, 2011
    * TweetCongress.org

    Total Tweeters By Party - 402: "We believe transparent government is better government. Twitter enables real conversation between lawmakers and voters, in real time. Find your representatives in Congress, follow them...* Democrat 167, * Independent 2, * Republican 233"


    * CRS: Overview of Immigration Issues in the 112th Congress

    Overview of Immigration Issues in the 112th Congress, Ruth Ellen Wasem, Specialist in Immigration Policy, March 21, 2011

  • "The number of foreign-born people residing in the United States is at the highest level in U.S. history and has reached a proportion of the U.S. population—12.5%—not seen since the early 20th century. Of the 38 million foreign-born residents in the United States, approximately 16.4 million are naturalized citizens. The remaining 21.6 million foreign-born residents are noncitizens. According to the latest estimates by the Department of Homeland Security (DHS), about 10.8 million unauthorized aliens were living in the United States in January 2010, down from a peak of 11.8 million in January 2007. Some observers and policy experts maintain that the presence of millions of unauthorized residents is evidence of inadequacies in the legal immigration system as well as failures of immigration control policies and practices. This report synthesizes immigration issues as a multi-tiered debate."
  • April 23, 2011
    * Tracking Citizen Whereabouts Using SmartPhone Logs

    Declan McCullagh,Chief political correspondent, CNET: How police have obtained iPhone, iPad tracking logs

  • "Law enforcement agencies have known since at least last year that an iPhone or iPad surreptitiously records its owner's approximate location, and have used that geolocation data to aid criminal investigations. Apple has never publicized the undocumented feature buried deep within the software that operates iPhones and iPads, which became the topic of criticism this week after a researcher at a conference in Santa Clara, Calif., described in detail how it works. Apple had acknowledged to Congress last year only that "cell tower and Wi-Fi access point information" is "intermittently" collected and "transmitted to Apple" every 12 hours. At least some phones running Google's Android OS also store location information, Swedish programer Magnus Eriksson told CNET today. And research by another security analyst suggests that "virtually all Android devices" send some of those coordinates back to Google."
  • WSJ.com: Apple, Google Collect User Data
  • 3 New Thoughts on Mobile Location – A Follow up to Apple Location Tracking
  • April 18, 2011
    * Committee Democrats Release New Report Detailing Hydraulic Fracturing Products

    "Today Energy and Commerce Committee Ranking Member Henry A. Waxman, Natural Resources Committee Ranking Member Edward J. Markey, and Oversight and Investigations Subcommittee Ranking Member Diana DeGette released a new report, Chemicals Used in Hydraulic Fracturing, that summarizes the types, volumes, and chemical contents of the hydraulic fracturing products used by the 14 leading oil and gas service companies. The report contains the first comprehensive national inventory of chemicals used by hydraulic fracturing companies during the drilling process.

  • "Hydraulic fracturing has helped to expand natural gas production in the United States, but we must ensure that these new resources don't come at the expense of public health," said Rep. Waxman. "This report shows that these companies are injecting millions of gallons of products that contain potentially hazardous chemicals, including known carcinogens. I urge EPA and DOE to make certain that we have strong protections in place to prevent these chemicals from entering drinking water supplies."
  • * CRS: Congressional Liaison Offices of Selected Federal Agencies

    Congressional Liaison Offices of Selected Federal Agencies, April 01, 2011

  • "Congressional Liaison Offices of Selected Federal Agencies Congressional Research Service Summary This list of about 150 congressional liaison offices is intended to help congressional offices in placing telephone calls and addressing correspondence to government agencies. In each case, the information was supplied by the agency itself and is current as of the date of publication. Entries are arranged alphabetically in four sections: legislative branch; judicial branch; executive branch; and agencies, boards, and commissions. Specific telephone numbers for correspondence, publications, and fax transmissions have been provided for each applicable agency. When using fax, it is important to include the entire mailing address on a cover sheet, as many of the listed fax machines are not directly located in the liaison offices. For the convenience of the user, websites are included as well. A number of agency listings include an e-mail address. When e-mailing agencies please remember to include your name, affiliation, phone number, and return address, to ensure a speedy response. Users should be aware that e-mail is not a confidential means of transmission. This report was produced for congressional offices only."
  • * Senate Investigations Subcommittee Releases Levin-Coburn Report On the Financial Crisis

    News release: "Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn M.D., R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, [April 13, 2011] released a 635-page final report on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression...[the] report presents new facts, new findings and recommendations, with more than 700 new documents totaling over 5,800 pages. It recounts how Washington Mutual aggressively issued and sold high-risk mortgages to Wall Street, Fannie Mae, and Freddie Mac, even as its executives predicted a housing bubble that would burst, and offers new detail about how its regulator deferred to the bank’s management. New documents show how Goldman used net short positions to benefit from the downturn in the mortgage market, and designed, marketed, and sold CDOs in ways that created conflicts of interest with the firm’s clients and at times led to the bank’s profiting from the same products that caused substantial losses for its clients. Other new information provides additional detail about how credit rating agencies rushed to rate new mortgage-backed securities and collect lucrative rating fees before issuing mass ratings downgrades that shocked the financial markets and triggered a collapse in the value of mortgage related securities. Over 120 new documents provide insights into how Deutsche Bank contributed to the mortgage mess."

    April 16, 2011
    * Markey: NRC Directing Secrecy in the Wake of Fukushima Meltdown

    "In the wake of the Fukushima disaster, the Nuclear Regulatory Commission (NRC) set out to inspect the U.S. fleet of nuclear reactors to ensure their safety and report publicly on its findings. Yet today, Rep. Edward J. Markey (D-Mass.) revealed that significant limits may be imposed on the inspections, and that inspectors also have been directed to keep many of the most serious vulnerabilities secret. In a letter sent to Greg Jaczko, the Chairman of the Nuclear Regulatory Commission, Rep. Markey notes that he has been informed that inspectors are limited to 40 hours to check a nuclear power plant with only one unit, and 50-60 hours to check a plant with multiple units. Inspectors were also initially instructed to limit their inspections only to the adequacy of safety measures needed to respond to “Design Basis Events.” These inspections were therefore looking at the vulnerabilities to events that have already been contemplated and analyzed by the NRC, but not to many of the events that occurred in Fukushima which were previously considered to be impossible and therefore not subject to regulation. When NRC's own inspectors complained about this limitation, it was removed, but inspectors were then directed not to record any observations or findings of vulnerabilities that went beyond design-basis events in any document that would eventually become public as part of the NRC's review."

    April 15, 2011
    * Wall Street And The Financial Crisis: Anatomy Of A Financial Collapse

    Majority And Minority Staff Report United States Senate Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs. Wall Street And The Financial Crisis: Anatomy Of A Financial Collapse, April 13, 2011 - : "This 639 page report, which was part of a 2-year bi-partisan investigation by the U.S. Senate Permanent Committee on Investigations into the origins of the 2008 financial crisis. The goal of the report was to: "deepen the understanding of what happened; identify some of the root causes of the crisis; and provide a factual foundation for the ongoing effort to fortify the country against the recurrence of a similar crisis in the future." The report includes more than 150 interviews and depositions, and consultations with dozens of government, academic and private sector experts. In April 2010, the Subcommittee held four hearings examining four root causes of the financial crisis."

    April 13, 2011
    * FTC Testifies on Protecting Social Security Numbers; Millions of Consumers are Victims of Identity Theft Each Year

    "The Federal Trade Commission today told a House subcommittee that millions of consumers are victims of identity theft each year at a cost of billion of dollars and countless hours of consumers’ time to repair the damage. In testimony before the House Ways and Means Committee’s Social Security Subcommittee, the agency said helping protect consumers from ID theft and deal with its consequences is a critical part of the FTC’s consumer protection mission. In the testimony, the FTC recommended legislation to help mitigate the identity theft problem by making Social Security numbers less useful to identity thieves and making the numbers harder to access."

    April 12, 2011
    * Federal Reserve Testimony on Derivatives Regulation

    Federal Reserve Governor Daniel K. Tarullo - Derivatives regulation, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C., April 12, 2011

  • "The Dodd-Frank Act addressed both the infrastructure of the derivatives markets and the regulation and supervision of its dealers and major participants. Central counterparties are given an expanded role in the clearing and settling of swap and security-based swap (hereafter referred to as "swap") transactions, and the Board believes benefits can flow from this reform. Since 2005, Federal Reserve staff members have worked with market participants to strengthen the infrastructure for OTC derivatives, including developing and broadening the use of central clearing mechanisms and trade repositories. Market participants have already established central counterparties that provide clearing services for some OTC interest rate, energy, and credit derivatives contracts. If properly designed, managed, and overseen, central counterparties offer an important tool for managing counterparty credit risk, and thus they can reduce risk to market participants and to the financial system. Both central counterparties and trade repositories also support regulatory oversight and policymaking by providing more-comprehensive data on the derivatives markets. The Board is committed to continuing to work with other authorities, both in the United States and abroad, to ensure that a largely consistent international approach is taken to central counterparties and trade repositories and that their risk-reducing benefits are realized."
  • April 07, 2011
    * CBO: Monthly Budget Review, April 2011

    Monthly Budget Review, April 2011, Based on the Monthly Treasury Statement for February and the Daily Treasury Statements for March

  • "The federal government incurred a budget deficit of $830 billion in the first six months of fiscal year 2011, CBO estimates—$113 billion more than the shortfall recorded in the same period last year. Outlays and revenues are both higher than they were last year at this time, by 11 percent and 7 percent, respectively."
  • April 02, 2011
    * Report to Congress: Medicare Payment Policy, March 2011
    • Fact Sheet - Report to the Congress, March 2011: "As required by the Congress, each March the Medicare Payment Advisory Commission reviews Medicare payment policies and makes recommendations. The 2011 report includes payment policy recommendations for ten payment systems: hospital inpatient, hospital outpatient, physician and other health professional, ambulatory surgical center, outpatient dialysis, skilled nursing, home health, inpatient rehabilitation facility, long-term care hospital, and hospice. MedPAC also reviews the status of the Medicare Advantage (MA) plans and prescription drug plans (Part D)."
    • Testimony: Report to the Congress: Medicare Payment Policy (Ways and Means, March 15, 2011)
    • Medpac Report to the Congress: Medicare Payment Policy (March 2011) - 384 pages, PDF
    April 01, 2011
    * The Economist: New studies confirm rate at which the earth's temperature is rising

    The Economist: "On Thursday March 31st Richard Muller of Lawrence Berkeley Laboratory gave evidence to the energy and commerce committee of America’s House of Representatives on the surface temperature record...a new and methodologically interesting study, carried out by people some of whom might have been expected to take a somewhat sceptical view on the issue, seems essentially to have confirmed the results of earlier work on the rate at which the earth’s temperature is rising. This makes suggestions that this rise is an artefact of bad measurement, or indeed a conspiracy of climatologists, even less credible than they were before."

  • Related postings on climate change
  • March 31, 2011
    * A Review of CBO's Activities in 2010 Under the Unfunded Mandates Reform Act

    A Review of CBO's Activities in 2010 Under the Unfunded Mandates Reform Act, March 31, 2011

  • "In this report, which is part of an annual series that began in 1997, the Congressional Budget Office (CBO) reviews its activities under the Unfunded Mandates Reform Act of 1995. The report covers public laws enacted and legislation considered by the Congress in calendar year 2010 that would impose federal mandates on state, local, or tribal governments or on the private sector.
    Summary: The federal government—through laws and regulations—sometimes imposes requirements on state, local, and tribal governments and entities in the private sector to achieve national goals. In 1995, the Congress passed and the President signed the Unfunded Mandates Reform Act (UMRA) to ensure that, during the legislative process, the Congress receives information about such proposed requirements, known as federal mandates, and their costs before enacting a piece of legislation."
  • March 30, 2011
    * CRS Report: Women in the United States Congress: 1917-2011

    Women in the United States Congress: 1917-2011. Jennifer E. Manning, Information Research Specialist; Colleen J. Shogan, Assistant Director/Senior Specialist in Government and Finance; Susan Navarro Smelcer, Analyst on the Federal Judiciary. March 18, 2011

  • Ninety-one women currently serve in the 112th Congress: 74 in the House (50 Democrats and 24 Republicans) and 17 in the Senate (12 Democrats and 5 Republicans). Ninety-two women were initially sworn in to the 112th Congress, but one Democratic House Member has since resigned. This number (92) is lower than the record number of 95 women who were initially elected to the 111th Congress. The first woman elected to Congress was Representative Jeannette Rankin (R-MT, 1917-1919, 1941-1943). The first woman to serve in the Senate was Rebecca Latimer Felton (D-GA). She was appointed in 1922 and served for only one day. A total of 274 women have served in Congress, 174 Democrats and 100 Republicans. Of these women, 235 (149 Democrats, 86 Republicans) have served only in the House of Representatives; 31 (19 Democrats, 12 Republicans) have served only in the Senate; and 8 (6 Democrats, 2 Republicans) have served in both houses. These figures include one non-voting Delegate each from Guam, Hawaii, the District of Columbia, and the U.S. Virgin Islands."
  • March 27, 2011
    * Federal Health Information Technology Strategic Plan 2011 – 2015

    Office of the National Coordinator for Health Information Technology (ONC), Federal Health Information Technology Strategic Plan 2011 – 2015

  • "It has been a momentous time for health care. With two major pieces of legislation – first the Health Information Technology for Economic and Clinical Health (HITECH) Act passed as part of the American Recovery and Reinvestment Act (ARRA), and then the Patient Protection and Affordable Care Act as amended by the Health Care and Education Reconciliation Act of 2010 (referred to collectively as the Affordable Care Act) – Congress has given the country an unprecedented opportunity to modernize the way care is delivered, and improve the health of all Americans."
  • March 21, 2011
    * FTC Submits 2011 Fair Debt Collection Practices Report to Congress

    News release: "At a time when many consumers are having trouble paying their debts, the Federal Trade Commission issued its 33rd annual report describing the agency’s law enforcement and other efforts to protect consumers from unfair, deceptive, and abusive debt collection practices. The Fair Debt Collection Practices Act (FDCPA) prohibits these and other improper practices by third-party debt collectors and requires that the Commission submit annual reports to Congress discussing the agency’s administration of the FDCPA. Data in the report, Federal Trade Commission Annual Report 2011: Fair Debt Collection Practices Act (March 2011), show that in 2010, as in other recent years, the FTC received more complaints about debt collection than any other single industry. Specifically, the agency received 140,036 debt collection complaints in 2010, up from 119,609 complaints in 2009. The top three categories of complaints about third-party collectors were:

    • calling repeatedly or continuously;
    • misrepresenting the character, amount, or status of the debt (including demanding a larger payment than is permitted by law); and
    • failing to send consumers a statutorily required written notice about the debt and their rights.

    * LegiStorm Posts Online Database of Congressional Staff Salaries

    "LegiStorm remains the exclusive online home of congressional staff salaries. This is the only spot on the web where you can find out who's making the big money on Capitol Hill and who's toiling for peanuts."

  • House Salaries and Bonuses by Member
  • The data about bonuses paid by individuals can be found at a new online resource here
  • March 16, 2011
    * FTC Testifies Before Senate Commerce Committee on Privacy; Industry Efforts to Implement "Do Not Track" System Already Underway

    News release: "In testimony before the Senate Committee on Commerce, Science and Transportation, the Federal Trade Commission discussed its efforts to protect consumer privacy through enforcement actions, consumer education, and policy initiatives like the FTC staff’s recent preliminary privacy report. The report proposes a framework to balance consumer privacy with industry innovation by: 1) building privacy protections into everyday business practices (“privacy-by-design”); 2) simplifying privacy choices for consumers; and 3)improving transparency with clearer, shorter privacy notices. The Commission told Congress that industry stakeholders have made important progress in implementing Do Not Track, a mechanism proposed in the staff's preliminary privacy report last December that would allow consumers to choose not to have their Internet browsing tracked by third parties. The testimony noted that two of the major Internet browsers – Microsoft and Mozilla – “have recently announced the development of new choice mechanisms for online behavioral advertising that seek to provide increased transparency, greater consumer control, and improved ease of use.”

  • "...the ACLU's Chris Calabrese testified before the Senate Commerce, Science and Transportation Committee on the state of online consumer privacy. In his testimony, Chris describes the danger that looms if Congress does not enact some online protections. He says: "If this collection of data is allowed to continue unchecked, then capitalism will build what the government never could — a complete surveillance state online."
  • March 14, 2011
    * CRS - Foreign Aid: An Introduction to U.S. Programs and Policy

    Foreign Aid: An Introduction to U.S. Programs and Policy - Curt Tarnoff, Specialist in Foreign Affairs / Marian Leonardo Lawson, Analyst in Foreign Assistance, February 10, 2011

  • "Foreign assistance is a fundamental component of the international affairs budget and is viewed by many as an essential instrument of U.S. foreign policy. Since the terrorist attacks of September 11, 2001, foreign aid has increasingly been associated with national security policy. U.S. foreign aid policy has developed around three primary rationales: national security, commercial interests, and humanitarian concerns. These broad rationales are the basis for the myriad objectives of U.S. assistance, including promoting economic growth, reducing poverty, improving governance, expanding access to health care and education, promoting stability in conflictive regions, promoting human rights, strengthening allies, and curbing illicit drug production and trafficking. In FY2010, U.S. foreign assistance totaled $39.4 billion, or 1.1% of total budget authority. In real terms, this was the highest level of U.S. foreign assistance since 1985. The U.S. Agency for International Development and the State Department, the primary administrators of U.S. foreign assistance, provided $10.38 billion in security-related assistance; $10.93 billion for health, education, and social welfare programs; $3.64 billion for governance programs; $5.21 for economic growth activities; and $4.98 in humanitarian assistance. Assistance can take the form of cash transfers, equipment and commodities, infrastructure, or technical assistance, and, in recent decades, is provided almost exclusively on a grant rather than loan basis."
  • * CRS Report: Shutdown of the Federal Government: Causes, Processes, and Effects

    Shutdown of the Federal Government: Causes, Processes, and Effects - Clinton T. Brass, Analyst in Government Organization and Management, February 18, 2011

  • "When federal agencies and programs lack appropriated funding, they experience a funding gap. Under the Antideficiency Act, they must cease operations, except in emergency situations. Failure of the President and Congress to reach agreement on interim or full-year funding measures occasionally has caused government shutdowns, the longest of which lasted 21 days, from December 16, 1995, to January 6, 1996. Government shutdowns have necessitated furloughs of several hundred thousand federal employees, required cessation or reduction of many government activities, and affected numerous sectors of the economy. This report discusses the causes, processes, and effects of federal government shutdowns, including potential issues for Congress. For questions concerning congressional operations, see the contact information contained in the "Key Policy Staff" table at the end of this report. For background on funding gaps, see CRS Report RS20348, Federal Funding Gaps: A Brief Overview, by Jessica Tollestrup."
  • March 13, 2011
    * CRS Report: Committee Types and Roles

    http://assets.opencrs.com/rpts/98-241_20110211.pdfhttp://assets.opencrs.com/rpts/98-241_20110211.pdf - Valerie Heitshusen, Analyst on Congress and the Legislative Process, February 11, 2011

  • "Committee Types and Roles Congressional Research Service Structure of the Committee System Congress divides its legislative, oversight, and internal administrative tasks among more than 200 committees and subcommittees. Within assigned areas, these functional subunits gather information; compare and evaluate legislative alternatives; identify policy problems and propose solutions; select, determine, and report measures for full chamber consideration; monitor executive branch performance (oversight); and investigate allegations of wrongdoing. The 1946 Legislative Reorganization Act (60 Stat. 812) sets the framework for the modern committee system. The act organized the Senate and House committees along roughly parallel lines, but divergences have emerged over time. Within the guidelines of chamber rules, each committee adopts its own rules addressing organizational, structural, and procedural issues. As a consequence, there is considerable variation among panels and across chambers. At the beginning of the 112th Congress, there were 20 standing committees in the House with 103 subcommittees, and one select committee.1 The Senate has 16 standing committees with 74 subcommittees, as well as four select or special committees. In addition, there are four joint committees. Types of Committees There are three main types of committees: standing, select or special, and joint. (Party committees, task forces, and congressional Member organizations--informal groups--are not addressed here.) Standing committees are permanent panels identified as such in chamber rules (House Rule X, Senate Rule XXV). Because they have legislative jurisdiction, standing committees consider bills and issues and recommend measures for consideration by their respective chambers. They also have oversight responsibility to monitor agencies, programs, and activities within their jurisdictions, and in some cases in areas that cut across committee jurisdictions. Most standing committees recommend funding levels--authorizations--for government operations and for new and existing programs."
  • March 11, 2011
    * CBO: An Analysis of the Navy's Shipbuilding Plans

    Testimony before the Subcommittee on Seapower and Projection Forces, Committee on Armed Services, U.S. House of Representatives, March 10, 2011.

  • "At the direction of the Congress, the Department of the Navy issues annual reports that describe its plans for ship construction over the coming 30 years. The latest report—issued in February and covering fiscal years 2011 to 2040—contains some significant changes in the Navy’s long-term goals for shipbuilding. The new plan appears to increase the required size of the fleet compared with earlier plans, while reducing the number of ships to be purchased—and thus the costs for ship construction—over the next three decades. Despite those reductions, the total costs of carrying out the 2011 plan would be much higher than the funding levels that the Navy has received in recent years, according to analysis by the Congressional Budget Office (CBO)."

  • March 10, 2011
    * Freshmen in 112th Congress Exceedingly Wealthy Despite Struggling National Economy

    Center for Responsive Politics Reports on wealth of Freshman House and Senate Members - [To download a spreadsheet containing raw data in part used to produce this report, click here: personalfinances_3_2011.xls]

  • "No matter that they’re the newest kids in Congress. Like their veteran counterparts, U.S. House and U.S. Senate freshmen are together a notably wealthy bunch, enjoying exponentially greater wealth than most of the Americans they represent, according to a Center for Responsive Politics analysis of federal personal financial disclosure reports. Sixty percent of Senate freshman and more than 40 percent of House freshmen are millionaires, the Center’s study finds. Roughly 1 percent of Americans at large claim the same lofty financial status...Freshmen congressmen also appear generally immune to the nation’s persistently soft economy, in which joblessness still hovers around 9 percent and many of the country’s regions continue to claw their way back from the recent recession. The Center calculates that the median estimated wealth for Senate freshman is $3.96 million. For House freshmen, it’s $570,418. The House number is slightly less than the median wealth of the 111th House, as calculated by the Center in November based on personal financial disclosure reports released in 2009 -- the most recent reports publicly available. But the wealth of Senate freshmen in the 112th Congress is, on average, greater than the average wealth of senators from the 111th Congress."
  • March 08, 2011
    * NOAA: U.S. 'Turning a Corner' in Ending Overfishing

    News release: "At a hearing today in front of the Senate Commerce Committee on the Magnuson-Stevens Act, Assistant NOAA Administrator for Fisheries Eric Schwaab said that the U.S. is making good progress toward meeting the mandate to end domestic overfishing. “We know that nearly $31 billion in sales and as many as 500,000 jobs are lost because our fisheries are not performing as well as they would if all stocks were rebuilt,” Schwaab said. “While we are turning a corner toward a brighter future for fishermen and fishing communities, many fishermen are struggling in part as a result of years of decline in fishing opportunity.” Schwaab said that NOAA is committed to working with fishermen and communities during this period of transition. Our nation’s fisheries have been vital to the economics and identities of our coastal communities for hundreds of years. According to the most recent estimates, U.S. commercial and saltwater recreational fisheries support almost two million jobs and generate more than $160 billion in sales."

    March 02, 2011
    * DrawCongress.org

    "A nonpartisan map of all 435 congressional districts in the nation has never been drawn. The widespread diffusion of redistricting technology and data and the training of a group of students dedicated to that purpose has made such a map possible for the first time. DrawCongress.org represents the first attempt to create an internet depository for nonpartisan congressional maps for the entire country. DrawCongress.org is an outgrowth of the “Redistricting and Gerrymandering” course at Columbia Law School. At this website you will find a series of student-drawn nonpartisan redistricting plans, which will culminate in a complete map of all 435 congressional districts. The students used Caliper Corporation's Maptitude for Redistricting software to draw their plans."

    * Federal Reserve Monetary Policy Report to the Congress

    Monetary Policy Report to the Congress Submitted pursuant to section 2B of the Federal Reserve Act, March 1, 2011: "Economic activity in the United States expanded at a moderate pace, on average, in the second half of 2010 and early 2011. In the spring and early summer, a number of key indicators of economic activity softened relative to the readings posted in late 2009 and the first part of 2010, raising concerns about the durability of the recovery. In light of these developments--and in order to put the economic recovery on a firmer footing--the Federal Open Market Committee (FOMC) provided additional monetary policy stimulus during the second half of 2010 by reinvesting principal repayments from its holdings of agency debt and agency mortgage-backed securities in longer-term Treasury securities and by announcing its intention to purchase an additional $600 billion of Treasury securities by the end of the second quarter of 2011."

  • Related postings on financial system
  • February 28, 2011
    * CQToday Fact Sheet: Proposed Cuts to Goverment Programs

    Shaving Off Dollars and Cents: "House Republicans announced a two-week spending bill designed to avert a government shutdown March 4. The measure would cut several programs already targeted by the White House for elimination, producing a total of $1.24 billion in savings. Cutting certain earmarks would realize $2.7 billion more in reductions."

    February 26, 2011
    * CBO Estimate of H.R. 1, the Full -Year Continuing Appropriations Act

    CBO Estimate of H.R. 1, the Full-Year Continuing Appropriations Act, 2011 as Passed by the House of Representatives on February 19, 2011 (In millions of dollars)

    February 25, 2011
    * Congress by the Numbers, 112th Congress, 1st Session

    Via Capital.net, the guide - Congress by the Numbers, 112th Congress, 1st Session, includes the following resources: Congress Seating Charts - Congressional Schedule - Congressional leadership and committees - Leadership of the current Congress - with photos, and more.

    February 24, 2011
    * Sunlight Labs - Congress 3.0 for Android

    Congress 3.0 for Android: "If you have an Android phone (or tablet) and haven't checked out the Congress app for Android in a while, now is a good time to give it another look. Today we're releasing version 3.0, which, in addition to a redesigned theme and layout, adds: Live updates from the House floor; Upcoming committee hearings in the House and Senate; Keyword search for bills (e.g. "health care", "deficit", "immigration"); Details on any amendment that receives a vote. And as usual, you can subscribe to be notified at any time of pretty much everything in the app, be they updates from the floor, or bill search results, or votes. All of the new features come from the recently launched Real Time Congress API."

    February 22, 2011
    * Avoiding Water Wars: Water Scarcity and Central Asia's Growing Importance for Stability in Afghanistan and Pakistan

    Avoiding Water Wars: Water Scarcity and Central Asia's Growing Importance for Stability in Afghanistan and Pakistan, Majority Staff Report prepared for the use of the Committee on Foreign Relations, United States Senate, 112th Congress, First Session, February 22, 2011

  • "This report by the committee majority staff examines United States policy with respect to water scarcity and water management in Central and South Asia. Water plays an increasingly important role in our diplomatic and national security interests in the region, and we must ensure that our approach is carefully considered and coordinated across the interagency. President Obama’s administration deserves credit for recognizing the critical role water plays in achieving our foreign policy objectives. As water demand for food production and electricity generation increases, in part as a result of the quickening pace of climate change, so too must our efforts to provide water security. While much of our focus currently rests on Afghanistan and Pakistan, we must also consider the interests in the shared waters by India and the neighboring five Central Asian countries—Uzbekistan, Tajikistan, Kazakhstan, Kyrgyzstan, and Turkmenistan. This report draws on staff travel to the region and the work of experts in government, academia, and international institutions. It provides significant insight and several key recommendations to advance U.S. policy in Central and South Asia with respect to this vital transboundary resource."
  • * Iraq: The Transition from a Military Mission to a Civilian-Led Effort

    Senate Foreign Relations Committee - Iraq: The Transition from a Military Mission to a Civilian-Led Effort (Committee Print - Majority), January 31, 2011

  • "This will be a year of unprecedented transition for the United States in Iraq as we move from a military-led mission to a civilian-led effort. The diplomatic mission that results will be of extraordinary size and complexity and it will assume security responsibilities in a still-dangerous environment. The stakes are high, not just for our civilian personnel, but for American foreign policy in the Middle East. While Iraq has made dramatic progress in recent years, the situation remains fragile and potentially reversible. The success of our diplomatic mission there will be an important factor in whether Iraq emerges from years of turmoil as a strategic partner or turns toward Iran. This report by the majority staff of the Senate Foreign Relations Committee sheds new light on this important topic and offers a number of policy recommendations. The report’s central message—that our government needs to make sure our objectives in Iraq are aligned with both our civilian capacities and a financial commitment to succeed—will be vital as we face a similar transition in Afghanistan in the years to come."
  • February 21, 2011
    * Saving Oil and Reducing Greenhouse Gas Emissions through U.S. Federal Transportation Policy

    Saving Oil and Reducing Greenhouse Gas Emissions through U.S. Federal Transportation Policy, by Cynthia J. Burbank, Parsons Brinckerhoff, Nick Nigro, Pew Center on Global Climate Change, February 2011

  • "The United States consumes over 10 million barrels of oil per day moving people and goods on roads and rail throughout the country. Surface transportation generates over 23 percent of U.S. anthropogenic greenhouse gas (GHG) emissions. Transportation is the primary cause of U.S. oil dependence with its attendant risks to U.S. energy security. Contributions from this sector will be necessary in any effort to maintain a sustainable and secure economy in the future. There are many opportunities to save oil and reduce GHG emissions under existing federal law and possibly in the next surface transportation reauthorization legislation in the U.S. Congress, while increasing the mobility of people and goods in the U.S. economy. This paper identifies opportunities possible in transportation reauthorization legislation and using existing legislative authority that will save oil and reduce GHG emissions. The strategy focuses on five key elements: vehicles; fuels; vehicle miles traveled (VMT); system efficiency; and construction, maintenance, and other activities of transportation agency operations."
  • February 20, 2011
    * Environmental Protections Cut to the Bone in House Budget Proposal

    News release, World Wildlife Fund: "America’s conservation heritage took a major hit in the...budget plan that passed the House of Representatives, including many programs intended to protect the health of our children and the natural world that we all depend on, World Wildlife Fund (WWF) said today. The budget proposal strips away funding to save the world’s forests, fisheries and disappearing wildlife. It would also take unprecedented steps to prevent the stewards of our air, water and public lands from doing their jobs, leaving millions of Americans in harms way. Many of the proposed cuts would slash funding by 30 percent or more, and some programs to maintain America’s parks, protect tropical rainforests and to address the causes and consequences of climate change would be eliminated entirely...The House budget proposal would have a profound negative impact on successful conservation and science programs currently underway. Agencies facing cuts include:

    • Environmental Protection Agency (EPA) - 30%
    • US Fish and Wildlife Service (FWS) Multinational Species Conservation Funds - 32%
    • Global Environment Facility (GEF) - 63%
    • USAID - 30%
    • National Oceanic and Atmospheric Administration (NOAA) - 8%, including 100% funding for the Climate Service program
    • Clean Technology Fund (CTF): Zeroes Out Funding
    • Forest Investment Program (FIP) : Zeroes Out Funding
    • Pilot Program for Climate Resilience (PPCR): Zeroes Out Funding
    • North American Wetlands Conservation Fund (NAWCF) – Zeroes Out Funding
    • Neotropical Migratory Bird Conservation (NMBC) – 11%
    • Tropical Forest Conservation Act (TFCA) – 33% cut in supporting fund with TFCA targeted for zero funding

    February 19, 2011
    * House Passes Luetkemeyer Amendment to Halt Taxpayer Financing of UN Climate Panel

    Science Insider: "Last night the U.S. House of Representatives agreed to cut off funding for the rest of 2011 for the Intergovernmental Panel on Climate Change. “My constituents should not have to continue to foot the bill for an organization to keep producing corrupt findings that can be used as justification to impose a massive new energy tax on every American,” said Representative Blaine Leutkemeyer (R-MO), the sponsor of the measure, in floor debate before the vote. Leutkemeyer said in a press release that his amendment, which passed 244 to 179 largely along partisan lines, represented “a victory for taxpayers.”

    February 16, 2011
    * CRS - Egypt: Background and U.S. Relations

    Egypt: Background and U.S. Relations - Jeremy M. Sharp, Specialist in Middle Eastern Affairs, February 4, 2011

  • This report provides an overview of U.S.-Egyptian relations, Egyptian politics, and U.S. foreign aid to Egypt. Major public unrest transpiring in Egypt and elsewhere in the Arab world in recent weeks raises challenging policy questions for the United States government and the 112th Congress. U.S. policy toward Egypt has long been framed as an investment in regional stability, built primarily on long-running military cooperation and sustaining the March 1979 Egyptian-Israeli peace treaty. Successive U.S. Administrations have viewed Egypt’s government as a moderating influence in the Middle East. At the same time, there have been increasing U.S. calls for Egypt to democratize. In recent years, congressional views of U.S.-Egyptian relations have varied. Many lawmakers have viewed Egypt as a stabilizing regional force, but some members have argued for the United States to pressure Egypt’s government to implement political reforms, improve human rights, and take a more active role in reducing Arab-Israeli tensions. Those concerns, in addition to economic frustration, are now driving the most significant public unrest in Egypt in a generation. The Obama Administration has called on the Egyptian government to respect the basic rights of protestors and has expressed concern about violence, while calling for a meaningful transition toward more democratic governance to begin immediately."
  • February 15, 2011
    * SEC OIG - Investigation of Failure of SEC's LA Regional Office to Uncover Fraud in Westridge Capital Management

    Investigation of the Failure of the SEC's Los Angeles Regional Office to Uncover Fraud in Westridge Capital Management Notwithstanding Investment Adviser Examination Conducted in 2005 and Inappropriate Conduct on the Part of Senior Los Angeles Official, Case No. OIG-533 [redacted, dated October 26, 2010 and released February 2011]

  • "In all, the OIG searched over 68,000 e-mails. We obtained and reviewed e-mails for the period from January to May 2005 for all examiners who had any involvement with the 2005 Westridge IA examination. We also obtained and reviewed all e-mails for the period from February 2009 to August 2009 for examiners who worked on either the 2009 Westridge IA examination or the 2009 WG Trading BD examination."
  • See also Written Testimony of H. David Kotz Inspector General of the Securities and Exchange Commission Before the Subcommittee on Financial Services and General Government, Committee on Appropriations, U.S. House of Representatives, Thursday, February 10, 2011: "The Office’s investigations unit has conducted numerous comprehensive investigations into significant failures of the SEC in accomplishing its regulatory mission, as well as investigations into allegations of violations of statutes, rules and regulations, and other misconduct by Commission employees and contractors. Several of these investigations involved senior-level Commission officials and represent matters of great concern to the Commission, Congressional officials and the general public. Where appropriate, we have reported evidence of improper conduct and made recommendations for disciplinary actions, including removal of employees from the Federal service, as well as recommendations for improvements in agency policies, procedures and practices."
  • February 14, 2011
    * Testimony by Fed Gov.on assessing regulatory, economic, and market implications of Dodd-Frank derviatives title

    Governor Daniel K. Tarullo, Assessing the regulatory, economic, and market implications of the Dodd-Frank derivatives title, Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C., February 15, 2011

  • "The Dodd-Frank Act requires that the Commodity Futures Trading Commission and the Securities and Exchange Commission consult with the Board on the rules they are crafting to implement Title VII. Immediately after passage of the act, the staff from the commissions and the Board met to fashion a process for this consultation; at the Board, we identified members of the staff with relevant expertise, both here and across the Federal Reserve System. Our staff have commented on proposed rules of the commissions at each stage of the development process to date. In providing feedback, we have tried to bring to bear our experience from supervising dealers and market infrastructure and our familiarity with markets and data sources to assist the commissions."
  • Related postings on financial system
  • * 2011 Worldwide Threat Assessment of the U.S. Intelligence Community

    Statement for the Record on the Worldwide Threat Assessment of the U.S. Intelligence Community for the House Permanent Select Committee on Intelligence, James R. Clapper, Director of National Intelligence, February 10, 2011

  • "This statement goes into extensive detail about numerous state and non-state actors, crosscutting political, economic, and military developments and transnational trends, all of which constitute our nation‟s strategic and tactical landscape. Although I believe that counterterrorism, counterproliferation, and counterintelligence are at the immediate forefront of our security concerns, it is virtually impossible to rank—in terms of long-term importance—the numerous, potential threats to U.S. national security. The United States no longer faces—as in the Cold War—one dominant threat. Rather, it is the multiplicity and interconnectedness of potential threats—and the actors behind them—that constitute our biggest challenge. Indeed, even the three categories noted above are also inextricably linked, reflecting a quickly-changing international environment of rising new powers, rapid diffusion of power to non-state actors and ever greater access by individuals and small groups to lethal technologies. We in the Intelligence Community believe it is our duty to work together as an integrated team to understand and master this complexity. By providing better strategic and tactical intelligence, we can partner more effectively with Government officials at home and abroad to protect our vital national interests."
  • February 13, 2011
    * CBO: Long-Term Implications of the 2011 Future Years Defense Program

    Long-Term Implications of the 2011 Future Years Defense Program

  • "In most years, the Department of Defense (DoD) provides a five- or six-year plan, called the Future Years Defense Program (FYDP), associated with the budget that it submits to the Congress. Because decisions made in the near term can have consequences for the defense budget well beyond that period, the Congressional Budget Office (CBO) has examined the programs and plans contained in DoD's FYDP and projected their budgetary impact in subsequent years. For this analysis, CBO used the FYDP provided to the Congress in April 2010, which covers fiscal years 2011 through 2015—the most recent plan available when this analysis was conducted. CBO's projections span 2011 through 2028."
  • Also see CBO Estimate of H.R. 1, the Full‐Year Continuing Appropriations Act, 2011 as Posted on the Rules Website
    In millions of dollars
    , February 11, 2011.
  • February 10, 2011
    * Report: EPA Analysis Detailing How the Clean Air Act is Good for Jobs and the Economy

    News release: "[February 9, 2011] Rep. Henry A. Waxman, Ranking Member of the Energy and Commerce Committee, and Rep. Bobby L. Rush, Ranking Member of the Energy and Power Subcommittee, released a letter and white paper from the Environmental Protection Agency (EPA) on the economic benefits of implementing the Clean Air Act. The EPA found that implementing the Clean Air Act's public health protections "creates American jobs and bolsters the global competitiveness of American industry, even as it lowers healthcare costs and protects American families from birth defects, illnesses, and premature death."

    February 09, 2011
    * Federal Reserve issues final rule to implement Volcker Rule conformance period

    "The Federal Reserve Board on Wednesday announced its approval of a final rule to implement the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that give banking firms a period of time to conform their activities and investments to the prohibitions and restrictions of the so-called Volcker Rule. The Volcker Rule generally prohibits banking entities from engaging in proprietary trading in securities, derivatives, or certain other financial instruments and from investing in, sponsoring, or having certain relationships with a hedge fund or private equity fund. The statute generally provides banking entities two years to bring their activities and investments into compliance and allows the Board to extend this conformance period under certain conditions. The Dodd-Frank Act requires that the Board issue rules implementing the Volcker Rule's conformance period. In developing the rule, the Board consulted with the Department of the Treasury, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. The final rule is substantially similar to the proposal published in November."

  • Related postings on financial system
  • February 07, 2011
    * Roll Call - Social Media Goes Viral on Capitol Hill

    "The role of social media in Congressional leaders’ messaging and outreach has exploded over the past few years, whether it be through tweets about floor schedule updates or on Facebook. But within that trend is a clear — and nonpartisan — divide between the savvy and those still in the dark. House Democratic and Republican leadership aides are eager to tout their bosses’ use of social media." [Link]

    February 04, 2011
    * Report: $1 Trillion in Profits and Still at the Trough: Oil and Gas in the 21st Century

    $1 Trillion in Profits and Still at the Trough: Oil and Gas in the 21st Century, February 3, 2011. House Committee on Natural Resources, Democratic Staff.

  • U.S. gasoline prices have increased 44 cents per gallon in the last year to an average price of $3.10 per gallon, with some parts of the country paying much more. The Energy Information Administration projects regular-grade gasoline to rise further to an average price of $3.17 per gallon this year and $3.29 per gallon in 2012.1 At these prices, Americans will pay an additional $67 billion for gasoline this year, or $262 per driver. Economy-wide gasoline expenditures will top $541 billion for the year. These figures could rise dramatically if instability in Egypt leads to a disruption in trade flows through the Suez Canal or if any other events in this volatile region threaten the supply and flow of oil. Meanwhile, high oil prices gave a huge boost to the Big 5 oil companies, ExxonMobil, Chevron, ConocoPhillips, BP, and Shell. A Natural Resources Democratic staff review of recent earnings announcements by the five largest oil companies operating in the United States shows that this industry has generated outsized profits that undermine the necessity for continued tax subsidies and royalty-free drilling access."
  • February 01, 2011
    * FTC Issues Annual Financial Acts Enforcement Report to Federal Reserve

    "The Federal Trade Commission issued its annual report to the Federal Reserve Board on FTC enforcement activities regarding the Equal Credit Opportunity Act, Electronic Fund Transfer Act (EFTA), Consumer Leasing Act, and Truth in Lending Act. This year’s report also discusses FTC activities under the Dodd-Frank Wall Street Reform and Consumer Protection Act, such as enforcement of new EFTA requirements and the FTC’s new authority over motor vehicle dealers."

    January 31, 2011
    * Florida District Judge Rules Health-Care Reform Act Ruled Unconstitutional

    State of Florida v. U.S. Department of Health and Human Services, 10-cv-00091, U.S. District Court, Northern District of Florida (Pensacola)

  • Roger Vinson - Senior United States District Judge, Case No.: "This case, challenging the Constitutionality of the Act, was filed minutes after the President signed. It has been brought by the Attorneys General and/or Governors of twenty-six states (the “state plaintiffs”); two private citizens (the “individual plaintiffs”); and the National Federation of Independent Business (“NFIB”) (collectively, the “plaintiffs”). The defendants are the United States Department of Health and Human Services, the Department of Treasury, the Department of Labor, and their secretaries (collectively, the “defendants”). I emphasized once before, but it bears repeating again: this case is not about whether the Act is wise or unwise legislation, or whether it will solve or exacerbate the myriad problems in our health care system. In fact, it is not really about our health care system at all. It is principally about our federalist system, and it raises very important issues regarding the Constitutional role of the federal government...For the reasons stated, I must reluctantly conclude that Congress exceeded the bounds of its authority in passing the Act with the individual mandate. That is not to say, of course, that Congress is without power to address the problems and inequities in our health care system. The health care market is more than one sixth of the national economy, and without doubt Congress has the power to reform and regulate this market. That has not been disputed in this case. The principal dispute has been about how Congress chose to exercise that power here."
  • Why Everyone Will Overreact to the Next Ruling on Health Care Reform [See also the Commerce Clause], and WSJ - Contenious Clause at Heart of Health-Law Challenges
  • The White House Blog - Judicial Activism and the Affordable Care Act
  • January 30, 2011
    * RAND: Key Policy Issues in 2011 State of the Union Address

    "In his 2011 State of the Union Address, President Barack Obama spoke about key policy issues that are on the minds of many Americans: jobs and the economy, education, clean energy, health care reform, U.S. military personnel and their families, and the United States' involvement in Iraq and Afghanistan. Here is a selection on Education, Energy, The Economy, Health Care, Military Personnel, Iraq, and Afghanistan] of reports, testimonies, journal articles, and videos that present some findings of RAND's work in these areas. With its commitment to objective research and analysis RAND has endeavored to enrich the policy debate and provide strategies decision makers can use as they address the challenges ahead."

    January 23, 2011
    * CBO - Analysis of Federal Civilian and Military Compensation

    Analysis of Federal Civilian and Military Compensation, January 20, 2011 Letter to the Honorable Steny H. Hoyer

  • "The Congressional Budget Office (CBO) was asked to compare federal civilian and military compensation. Total compensation can be divided into three components:cash compensation (including pay, cash allowances, and bonuses); noncash benefits (such as subsidized health insurance and child care); and deferred benefits (such as
    pensions and veterans’ benefits.) Because of the difficulties of estimating the relative size of noncash and deferred compensation, for this analysis CBO focused on cash compensation, addressing how salaries earned by federal civilian workers compare with cash compensation for military personnel. According to CBO’s analysis, median cash compensation for military personnel—including the tax-free cash allowances for food and housing—exceeds the salaries of most federal civilians of comparable education and work experience. In addition, according to prior studies, noncash and
    deferred benefits are also higher for military personnel than for federal civilian workers."
  • January 20, 2011
    * Social Media and Congress

    Via House Majority Leader Eric Cantor (R-VA) - "YouCut – a first-of-its-kind project - is designed to defeat the permissive culture of runaway spending in Congress. It allows you to vote, both online and on your cell phone, on spending cuts that you want to see the House enact. Each week that the House is in session, we will take the winning item and offer it to the full House for an up-or-down vote, so that you can see where your representative stands on your priorities. Vote on this page today for your priorities and together we can begin to change Washington's culture of spending into a culture of savings."

  • Politico: "On Tuesday [January 18, 2011], the House passed a bill to eliminate mandatory printing for every bill and resolution by axing the Government Printing Office — an initiative “crowd-sourced” by the public on YouCut. In addition, three new government subsidies were added to YouCut for the public to vote on."
  • Republicans to Add NPR Funding to 'You Cut' Budget Slashing Contest
  • * Report: 129 million Americans with pre-existing condition could be denied coverage without new health reform law

    News release: "Health and Human Services Secretary Kathleen Sebelius released a new analysis showing that, without the Affordable Care Act, up to 129 million non-elderly Americans who have some type of pre-existing health condition, like heart disease, high blood pressure, arthritis or cancer, would be at risk of losing health insurance when they need it most, or be denied coverage altogether. Under the full range of policies in the Affordable Care Act to be enacted by 2014, Americans living with pre-existing conditions are free from discrimination and can get the health coverage they need, and families are free from the worry of having their insurance cancelled or capped when a family member gets sick, or going broke because of the medical costs of an accident or disease. Repealing the law would once again leave millions of Americans worrying about whether coverage will be there when they need it."

  • At Risk: Pre-Existing Conditions Could Affect 1 in 2 Americans: 129 Million People Could Be Denied Affordable Coverage Without Health Reform
  • January 19, 2011
    * Present Law And Historical Overview Of The Federal Tax System

    Present Law And Historical Overview Of The Federal Tax System, Scheduled for a Public Hearing Before the Committee on Ways and Means on January 20, 2011, Prepared by the Staff of the Joint Committee on Taxation, January 18, 2011, JCX-1-11 (January 18, 2011)

  • This document, prepared by the staff of the Joint Committee on
    Taxation, provides a summary of the Federal tax system, briefly describes its historical development over the period of time beginning in 1975, and provides an appendix of selected historical data on Federal tax rates, Federal tax receipts, components of adjusted gross income, and other features of the Federal tax system.
    The current Federal tax system has four main elements: (1) an income tax on individuals and corporations (which consist of both a “regular” income tax and an alternative minimum tax); (2) payroll taxes on wages (and corresponding taxes on self-employment income); (3) estate, gift, and generation-skipping transfer taxes, and (4) excise taxes on selected goods and services."
  • January 18, 2011
    * CBO - Unauthorized Appropriations and Expiring Authorizations (Appropriations)

    Unauthorized Appropriations and Expiring Authorizations (Appropriations). "As required, the Congressional Budget Office (CBO) reports each January to the Congress on the following:

    • All programs and activities funded for the current fiscal year for which authorizations of appropriations have expired, and
    • All programs and activities for which authorizations of appropriations will expire during the current fiscal year.
    • That requirement is specified in section 202(e)(3) of the Congressional Budget and Impoundment Control Act of 1974. The purpose of that provision is "to help Congress use the early months of the year to adopt authorizing legislation that must be in place before the regular appropriation bills can be considered."

    January 13, 2011
    * Gulf War and Health: Volume 6. Physiologic, Psychologic, and Psychosocial Effects of Deployment-Related Stress

    "The sixth in a series of congressionally mandated reports on Gulf War veterans' health, this volume evaluates the health effects associated with stress. Since the launch of Operation Desert Storm in 1991, there has been growing concern about the physical and psychological health of Gulf War and other veterans. In the late 1990s, Congress responded by asking the National Academy of Sciences (NAS) to review and evaluate the scientific and medical literature regarding associations between illness and exposure to toxic agents, environmental or wartime hazards, and preventive medicines or vaccines in members of the armed forces who were exposed to such agents. Deployment to a war zone has a profound impact on the lives of troops and on their family members. There are a plethora of stressors associated with deployment, including constant vigilance against unexpected attack, difficulty distinguishing enemy combatants from civilians, concerns about survival, caring for the badly injured, and witnessing the death of a person. Less traumatic but more pervasive stressors include anxiety about home life, such as loss of a job and income, impacts on relationships, and absence from family. The focus of this report, by the Institute of Medicine (IOM) Committee on Gulf War and Health: Physiologic, and Psychosocial Effects of Deployment-Related Stress, is the long-term effects of deployment-related stress. Gulf War and Health: Volume 6. Physiologic, and Psychosocial Effects of Development Related Stress evaluates the scientific literature regarding association between deployment-related stressors and health effects, and provides meaningful recommendations to remedy this problem."

    January 12, 2011
    * FTC Issues Interim Report to Congress on National Study of Credit Report Accuracy

    News release: "The Federal Trade Commission has issued a fourth interim report to Congress describing progress the agency has made on a national study examining the accuracy of credit reports. Congress directed the FTC to conduct a study of credit report accuracy and provide interim reports every two years, starting in 2004 and continuing through 2012, with a final report in 2014."

  • Section 319 of the Fair and Accurate Credit Transactions Act of 2003: Fourth Interim Federal Trade Commission Report to Congress Concerning the Accuracy of Information in Credit Reports (January 2011)
  • * Pew: The 2010 Congressional Reapportionment and Latinos

    The 2010 Congressional Reapportionment and Latinos, January 2010

  • "Hispanic voters are nearly three times more prevalent in states that gained congressional seats and Electoral College votes in the 2010 reapportionment than they are in states that lost seats, according to an analysis of Census data by the Pew Hispanic Center, a project of the Pew Research Center. Based on averages reflecting congressional gains and losses, 15.2% of the eligible voter1 population in states that gained seats is Hispanic, compared with just 5.4% of eligible voters in those states that lost seats.
    With these reapportionment changes, Latinos likely will play a larger role in national politics in the coming decade. Two states that gained seats, Florida and Nevada, have been key swing battlegrounds in recent presidential elections (having voted for the Republican nominee in 2004 and the Democrat in 2008). In both states, Latinos are a growing share of eligible voters."

  • January 11, 2011
    * Drupal open-source web content management system chosen for more than 500 House of Representatives sites

    Sources Sought: "The Chief Administrative Officer (CAO) of the United States House of Representatives seeks vendors experienced with web design, development and support using Drupal, the open-source web content management system. This is a source selection process only. The CAO will not be making any contract awards during this process. The CAO has established a flexible Drupal hosting platform as the preferred web hosting environment for the House. Members, Committees, Leadership, Officers and Officials (the CAO’s customers) each manage and control a public web site. These customers have the independent authority to select the web vendor of their choice provided that vendor meets specific House requirements. In total, there are nearly 520 unique House web sites within House.gov."

    January 10, 2011
    * Library of Congress taps LII for Expertise in Legislative Information

    News release: "The US Library of Congress chose the Legal Information Institute at Cornell University (LII) to help develop new methods to preserve, analyze, organize, and present Congressional legislative information and materials digitally. The project is headed by LII Director Thomas R. Bruce. Dave Shetland, Sara Frug, and Wayne Weibel will make up the rest of the LII’s team of experts. Long-time LII collaborators Metadata Management Associates will work with LII on this important project. “This project introduces the idea of a model that reflects the life cycle of legislation–a significantly different model than the one used in traditional library materials,” says Diane Hillmann, Partner at MMA. Hillmann’s team will be joined by John Joergensen, a law librarian at Rutgers University (Camden), and Robert Richards, each well known for their work in library-based legal informatics. The work and research LII provides Library of Congress will form the foundation of the Library’s plans to improve digital access to historical and current Congressional legislative information. Important Congressional documents — bills, Presidential documents, committee reports, public laws, and the United States Code among others — will be better organized and easier to find online for scholars, researchers, and average citizens, alike. The project will significantly improve public access to Congressional materials through THOMAS — Congress’ main electronic point of access for the public, as well as the Legislative Information System (LIS) used internally by the Senate and the House of Representatives."

    * Senate Report - Justice Undone: The Release of the Lockerbie Bomber

    Justice Undone: The Release of the Lockerbie Bomber, December 2010

  • "This report was recently released by the United States Senate, and investigates the release of Abselbaset Ali Mohmed al-Megrahi, the Libyan national that was convicted of planting a bomb on Pan Am Flight 103. On December 21, 1988, this flight exploded over Lockerbie, Scotland killing everyone aboard. Of the 270 people killed in this event, 189 were U.S. citizens. Al-Megrahi was originally sentenced to serve a life sentence by a Scottish court. However, on 20 August, 2009 the Scottish Government released Al-Megrahi from prison on grounds of compassion after he was diagnosed with prostate cancer and given three months to live. Though nearly a year and a half later, al-Megrahi is still alive and well. According to this report: "His release directly contradicted an agreement between the U.S. and U.K. governments that anyone convicted in the terrorist bombing would serve out their term in a Scottish prison." Other finding include: The medical prognosis given to al-Megrahi was inaccurate and that the Scottish courts were highly selective on what information they relied upon; and that the U.K. pushed for the release of al-Megrahi because of its expanding business ties to Libya."
  • [Homeland Security Digital Library Blog]

    January 09, 2011
    * Previously banned assault weapon used in Giffords shooting, and government's five count complaint filed

    Salon: "The high-capacity magazine of the semiautomatic pistol used in the shooting of Rep. Gabrielle Giffords and more than a dozen other people on Saturday would have been illegal to manufacture and difficult to purchase under the Clinton-era assault weapons ban, which expired in 2004. According to police and media reports, the alleged shooter, Jared Lee Loughner, legally purchased a semiautomatic Glock 19 with a high-capacity magazine in November at a gun store in Tucson. Under the assault weapons ban, it was illegal to manufacture or sell new high-capacity magazines, defined as those that hold more than 10 rounds. The magazines used by Loughner had 31 rounds each, according to police. If Loughner had been using a traditional magazine, "it would have drastically reduced the number of shots he got off before he had to pause, unload and reload -- and he could have been stopped," Daniel Vice, senior attorney at the Brady Center to Prevent Gun Violence, tells Salon."

    January 06, 2011
    * CBO - Preliminary Analysis of H.R. 2, the Repealing the Job-Killing Health Care Law Act

    Preliminary Analysis of H.R. 2, the Repealing the Job-Killing Health Care Law Act, January 6, 2011 Letter to the Honorable John Boehner

  • "..this letter describes—in broad terms and on a preliminary
    basis—CBO’s assessment of the effects that repealing PPACA and the relevant provisions of the Reconciliation Act would have on federal budget deficits, the federal government’s budgetary commitment to health care, the number of people with health insurance, and health insurance premiums in the private market. (Repealing the provisions of that legislation would also have a variety of other effects on the health care and health insurance systems that this letter, like previous CBO cost estimates, does not address.)"
  • January 05, 2011
    * National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Tax Reform, Collection Issues, and Implementation of Health Care Reform

    News release: "National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the need for tax reform as the number one priority in tax administration. The Advocate expressed continuing concern that the IRS’s increasing use of hard-core enforcement actions, particularly tax liens, is inflicting unnecessary harm on financially struggling taxpayers. The report also examines challenges the IRS is facing in implementing the new health care law."

    January 02, 2011
    * U.S. Airports Increasing Looking at Private Airport Security Screening Options

    WaPo: As outrage over screenings rises, sites consider replacing TSA - "For airports, the change isn't about money. At issue, airport managers and security experts say, is the unwieldy size and bureaucracy of the federal aviation security system. Private firms may be able to do the job more efficiently and with a personal touch, they say. Airports that choose private screeners must submit the request to the TSA. There are no specific criteria for approval, but federal officials can decide whether to grant the request "based on the airport's record of compliance on security regulations and requirements." The TSA pays for the cost of the screening and has the final say on which company gets the contract. Rep. John L. Mica (R-Fla.), the incoming chairman of the House Transportation and Infrastructure Committee, has written to 200 of the nation's largest airports, urging them to consider switching to private companies. The TSA was "never intended to be an army of 67,000 employees," he said."

  • Related postings on government implementation of whole body scanning technology at airports
  • December 24, 2010
    * Proposed U.S. House Rules Pave the Way for iPads and BlackBerrys?

    Proposed U.S. House Rules Welcome (Quiet) Mobile Devices to the Floor: "In this last Congress, the 111th, the House operated under a rule that dictated that no one shall "smoke or use a wireless telephone or personal computer on the floor of the House." But, according to copy of the proposed rules just posted to the website of the Committee on Rules, that section has been tweaked for the 112th congress to give the Speaker of the House wide discretion in dictating what sort of mobile technologies members and staffers can bring to and use on the floor of the House.

    * Pew Study: Politics goes mobile

    Politics goes mobile, by Aaron Smith, Lee Rainie, Dec 23, 2010: "More than a quarter of American adults – 26% – used their cell phones to learn about or participate in the 2010 mid-term election campaign. In a post-election nationwide survey of adults, the Pew Research Center’s Internet & American Life Project found that 82% of adults have cell phones. Of those cell owners, 71% use their phone for texting and 39% use the phone for accessing the internet. With that as context, the Pew Internet survey found that:

    • 14% of all American adults used their cell phones to tell others that they had voted.
    • 12% of adults used their cell phones to keep up with news about the election or politics.
    • 10% of adults sent text messages relating to the election to friends, family members and others.
    • 6% of adults used their cells to let others know about conditions at their local voting stations on election day, including insights about delays, long lines, low turnout, or other issues.
    • 4% of adults used their phones to monitor results of the election as they occurred.
    • 3% of adults used their cells to shoot and share photos or videos related to the election..."

    * Examining the Filibuster: Hearings before the Committee on Rules and Administration, United States Senate

    Government Book Talk: "Examining the Filibuster: Hearings before the Committee on Rules and Administration, United States Senate [666 pages, PDF]: "Apparently the filibuster was not erected by the founding fathers as a way to safeguard the rights of the minority and guarantee careful deliberation of legislation. Originally, both Houses of Congress included a “previous question motion” in their rule books, which still allows a House majority to cut off debate. In 1805, however, neither body used the motion in this way and, at the urging of Vice President Aaron Burr in his capacity as President of the Senate, the Senate eliminated the previous question motion from its rule book – apparently without any real discussion. Even so, it was not until 1837 that the first real filibuster occurred. Another plum: the late Senator Robert C. Byrd, even though he represented the majority in the Senate for much of his career, was a passionate defender of the filibuster, proving that such issues are not decided simply on the basis of party, or majority versus minority."

    December 21, 2010
    * Selected CBO Publications Related to Health Care Legislation, 2009–2010

    Selected CBO Publications Related to Health Care Legislation, 2009–2010, December 22, 2010.

  • "In March 2010, the Congress passed and the President signed into law legislation that makes major changes to the U.S. health care and health insurance systems. That legislation came in two parts: the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010. Among other things, those laws will establish a mandate for most legal residents of the United States to obtain health insurance; create insurance exchanges through which certain individuals and families will receive federal subsidies; significantly expand eligibility for Medicaid; reduce the growth of Medicare’s payment rates for most services; impose an excise tax on insurance plans with relatively high premiums; impose certain taxes on individuals and families with relatively high incomes; and make various other changes to the federal tax code, Medicare, Medicaid, and other programs. (In addition, the Reconciliation Act substantially alters federal programs governing loans and grants for postsecondary education.)"
  • * New Start arms control treaty with Russia

    NYT: Arms Treaty With Russia Headed for Ratification: "An arms control treaty paring back American and Russian nuclear arsenals won a decisive vote in the Senate on Tuesday, clearing it for final approval and handing President Obama an important foreign policy victory. The Senate voted 67 to 28 to end debate on the treaty, known as New Start, mustering the two-thirds majority needed for ratification despite a concerted effort by Republican leaders to sink the agreement. Eleven Republican senators joined every Democrat present to support the treaty, which now heads to a seemingly certain final vote of approval on Wednesday."

    * New Study Released on Congressional Staff Pay and Congressional Competence

    Via a posting to GOVDOC-L by Daniel Schuman, Director | Advisory Committee on Transparency, Policy Counsel | The Sunlight Foundation: "I've just released a significant report on the link between congressional staff pay and congressional competence. What makes it relevant to this list is that the research wouldn't have been possible without a government document librarian, and it highlights how difficult it can be to obtain official gov't docs that aren't official enough to be available from GPO. Second, for those who care about the legislative branch, Congress must do a better job of making available information about itself. It was nearly impossible to obtain copies of staff salary surveys. Not until this past
    year were House Expenditure Reports, which include staff pay, made available online, and they are in a terrible format that is difficult to evaluate. The Senate won't begin publishing comparable data online until the 3rd quarter of 2011. The publication. Vital Statistics on Congress 2008 is incredibly useful, but was compiled by private researchers. Again, Congress should make this information available online in formats that lend themselves to easy analysis."

    December 20, 2010
    * A Half-Empty Government Can't Govern: Why Everyone Wants to Fix the Appointments Process, Why It Never Happens, and How We Can Get It Done

    A Half-Empty Government Can't Govern: Why Everyone Wants to Fix the Appointments Process, Why It Never Happens, and How We Can Get It Done. William A. Galston and E.J. Dionne, Jr., The Brookings Institution, December 14, 2010.

  • "Abuses of the confirmation process, far from strengthening the executive’s accountability to the legislative branch, instead call forth ever more creative executive actions to get around Congressional scrutiny. And that creativity has, in turn, led to an executive branch potentially weaker and less able to control and influence the departments and agencies it depends on to implement its policies. Without any formal Constitutional change, the very structure of the American government is being altered. A confirmation process designed to safeguard Congress’ prerogatives has, in important ways, undermined them. And some of the problems should, in principle, be easily fixed. As scholar Paul Light observed in a New York Times op-ed piece in March, 2009: “At least half of the delays in the presidential appointments process appear to involve bureaucratic red tape and duplication of effort, while a quarter appear to reflect the rising and inappropriate use of personal holds by the senators to extract concessions from the president and fellow legislators.”
  • December 18, 2010
    * Senate Repeals "Don't Ask, Don't Tell" - Sends to President

    NYT: "The Senate on Saturday struck down the ban on gay men and lesbians serving openly in the military, bringing to a close a 17-year struggle over a policy that forced thousands of Americans from the ranks and caused others to keep secret their sexual orientation. By a vote of 65 to 31, with eight Republicans joining Democrats, the Senate approved and sent to President Obama a repeal of the Clinton-era law, known as “don’t ask, don’t tell,” a policy critics said amounted to government-sanctioned discrimination that treated gay and lesbian troops as second-class citizens...Senator Ron Wyden, Democrat of Oregon, said as the debate opened. “If you love this country enough to risk your life for it, you shouldn’t have to hide who you are."

    December 15, 2010
    * SIGIR October 2010: Quarterly Report To Congress

    October 2010: Quarterly Report To Congress, Management of U.S. Reconstruction Transition

  • "Under the terms of the current U.S.-Iraq Security Agreement, all U.S. military forces are scheduled to depart Iraq by December 31, 2011. This quarter, continued withdrawal of U.S. troops proceeded apace, with the last U.S. combat brigade rolling out in August, signaling the end of Operation Iraqi Freedom and the beginning of Operation New Dawn. Concurrent with U.S. military reductions, the Department of State (DoS) is continuing to expand its presence. Over the next year, DoS will open several key hubs across Iraq and will assume responsibility from the Department of Defense (DoD) for police training. Overseeing these changes are General Lloyd Austin, who took command of U.S. Forces-Iraq (USF-I) this quarter, and the new U.S. Ambassador to Iraq, James Jeffrey. This report is also broken out by Figures, Pictures, and Tables."
  • December 13, 2010
    * Judiciary Committee Plans Hearing on Wikileaks

    Follow up to postings on Wikileaks, news of a Hearing on the Espionage Act and the Legal and Constitutional Issues Raised by WikiLeaks, Thursday 12/16/2010.

  • Pew Research Center: Public Sees WikiLeaks as Harmful
  • December 12, 2010
    * New on LLRX.com: Dodd-Frank Wall Street Reform and Consumer Financial Protection Act: A Brief Legislative History

    LLRX.com: Dodd-Frank Wall Street Reform and Consumer Financial Protection Act: A Brief Legislative History with Links, Reports and Summaries

  • The "craft" of legislative history construction is practiced with unique and outstanding expertise by law librarian Rick McKinney. This history is designed in a streamlined fashion so as to allow users to more easily check when provisions in the law got into bill and then check for related remarks concerning those provisions. It also has links to earlier legislation related to different titles of the Act, to the Administration's proposed legislation in 2009, to related CRS reports, and to various summaries and commentaries of the law on the Web.
  • December 08, 2010
    * Senate Report: The Real Story Behind China's Energy Policy And What America Can Learn From It

    News release: "Sen. James Inhofe (R-Okla.), Ranking Member of the Senate Committee on Environment and Public Works, released a new minority report, titled, The Real Story Behind China's Energy Policy - And What American Can Learn From It. The report shows that, regardless of its wind and solar production, China is predominantly relying on coal, oil, and natural gas, along with hydro and nuclear power, to fuel its economy. Non-hydro renewables, despite considerable government support, make up less than 1 percent of China's energy portfolio - a fact that won't change for at least the next two decades. When it comes to clean energy, China dominates production of rare earth minerals, which are necessary to produce wind turbines, solar panels, advanced batteries, energy efficient lighting, and many other energy technologies. As the report explains, China produces about 97 percent of the world's supply, while the U.S. produces none. China's dominance in this regard provides enormous economic leverage over the U.S.-and leaves our country dangerously dependent on China's resources."

    December 05, 2010
    * CBO: Trends in Federal Tax Revenues and Rates

    Testimony, Congressional Budget Office, Statement of Douglas W. Elmendorf
    Director - Trends in Federal Tax Revenues and Rates - before the Committee on Finance United States Senate, December 2, 2010

  • "Over the past 40 years, federal revenues have ranged from nearly 21 percent of gross domestic product (GDP) in fiscal year 2000 to less than 15 percent in fiscal years 2009 and 2010, averaging 18 percent of GDP over that span. Most of the revenues--about 82 percent in 2010--come from the individual income tax and the payroll taxes used to finance Social Security, Medicare, and the federal unemployment insurance program. Other sources of revenues include corporate income taxes, excise taxes, estate and gift taxes--all together about 13 percent of revenues in 2010--and nontax revenues such as earnings of the Federal Reserve System, customs duties, fines, and various fees. Variation in individual income tax receipts, stemming from both policy changes and economic developments, has generated the largest fluctuations in revenues as a percentage of GDP."
  • Related postings on financial system
  • November 30, 2010
    * Majority Staff of the Joint Economic Committee - Understanding the Economy: State-by-State Snapshots (October Data)

    Understanding the Economy: State-by-State Snapshots (October Data), November 2010

  • "This is the eleventh edition of the state-by-state snapshots issued by the Joint Economic Committee, containing employment and unemployment data at the state level for the first ten months of 2010. Job growth in the fourth quarter of 2010 appears more robust than it was in the middle of 2010, with 43 states and the District of Columbia experiencing private sector growth in October. In contrast, only 22 states saw private sector growth in August and 20 states plus the District of Columbia expanded private sector payrolls in September. While the current recovery remains fragile and uneven, as a whole, the economic situation of the country has improved over the past year."
  • November 26, 2010
    * New Member Pictorial Directory: 112th Congress

    New Member Pictorial Directory: 112th Congress - Pocket–sized compilation of color photographs of all of the men and women of the 112th Congress.

  • See also New Members Guide 2010 By The Hill Staff
  • November 23, 2010
    * Majority of Americans Now Oppose Body Scanners and TSA Pat Downs

    EPIC: "A new poll by Zogby International finds that 61% of Americans polled between Nov. 19 and Nov. 22 oppose the use of full body scans and TSA pat downs. Of those polled, 52% believe the enhanced security measures will not prevent terrorist activity, almost half (48%) say it is a violation of privacy rights, 33% say they should not have to go through enhanced security methods to get on an airplane, and 32% believe the full body scans and TSA pat downs to be sexual harassment. The Zogby Poll is the most recent survey of American opinion on the new airport screening procedures. Combined with earlier polls by USA Today and the Washington Post-ABC News, the Zogby Poll reflects declining support for the TSA program."

    • News release: "U.S. Rep. Rush Holt, a scientist and the Chairman of the House Select Intelligence Oversight Panel, Friday wrote the Administrator of the Transportation Security Administration (TSA), reiterating his concerns about the use of body imaging technology, notably about potential health effects and the effectiveness of the screening to detect the full range of explosive threats known or anticipated to be used by potential terrorists...the majority of the radiation from X-ray backscatter machines strikes the top of the head, which is where 85 percent of the 800,000 cases of basal cell carcinoma diagnosed in the United States each year develop."
    • Airport body-scanner manufacturers armed for K Street battle: "...Companies like L-3 Communications, the defense contractor, are providing several of the scanners under a nearly $165 million TSA contract won earlier this year, are well-prepared for the fight."
    • WaPo: Protesters' body scanner opt-out day could bring nationwide delays at airports

    November 22, 2010
    * CRS: The Status of the Basel III Capital Adequacy Accord

    The Status of the Basel III Capital Adequacy Accord, Walter W. Eubanks, Specialist in Financial Economics, October 28, 2010

  • "The new Basel Capital Adequacy Accord (Basel III) is of concern to Congress mainly because it could put U.S. financial institutions at a competitive disadvantage in world financial markets. The Basel capital accord is an agreement among countries’ central banks and bank supervisory authorities on the amount of capital banks must hold as a cushion against losses and insolvency. Higher capital requirements constrain bank lending and profitability. The accords are not treaties. Member countries may modify the agreement to suite their financial regulatory structures. The concern is that Basel III might be in conflict with the new capital requirements U.S. regulators are implementing under the Dodd-Frank Act (P.L. 111-203). Basel III was the central focus of the discussion at the September 22, 2010, House Committee on Financial Services hearing on international regulatory issues relevant to the implementation of the Dodd-Frank Act. A day after member central bank governors approved the quantitative capital requirements of Basel III, Senate Banking Committee Chairman Christopher Dodd issued a statement warning of the potential for international regulatory arbitrage in implementing Basel III."
  • * CRS: Rulemaking Requirements and Authorities in the Dodd-Frank Wall Street Reform and Consumer Protection Act

    Rulemaking Requirements and Authorities in the Dodd-Frank Wall Street Reform and Consumer Protection Act, Curtis W. Copeland, Specialist in American National Government, November 3, 2010

  • "The Dodd-Frank Wall Street Reform and Consumer Protection Act
  • November 21, 2010
    * CRS: Afghanistan: U.S. Rule of Law and Justice Sector Assistance

    Afghanistan: U.S. Rule of Law and Justice Sector Assistance, Liana Sun Wyler
    Analyst in International Crime and Narcotics - Kenneth Katzman, Specialist in Middle Eastern Affairs, November 9, 2010 [via FAS]

  • "Developing effective Afghan justice sector institutions is considered by many observers to be essential in winning the support of the Afghan population, improving the Afghan government’s credibility and legitimacy, and reducing support for insurgent factions. Such sentiments are reinforced in the face of growing awareness of the pervasiveness of Afghan corruption. To this end, establishing the rule of law (ROL) in Afghanistan has become a priority in U.S. strategy for Afghanistan and an issue of interest to Congress. Numerous U.S. programs to promote ROL are in various stages of implementation and receive ongoing funding and oversight from Congress...Observers debate whether or to what extent the increased U.S. commitment to and resources for ROL efforts in Afghanistan will help the U.S. government reach its ultimate goal of developing a stable, capable, and legitimate Afghan government. Many would argue that the challenges in Afghanistan to ROL development and justice sector reform remain substantial and many factors undermine prospects for success. Chief among these are ongoing allegations of severe corruption at all levels of the Afghan government, lack of overall security and stability, limited Afghan government capacity, the existence of competing justice mechanisms, and the persistence of traditional attitudes that perpetuate the perception that well-connected Afghans can avoid facing prosecution and conviction."
  • * SEC Proposes Rules on Security-Based Swap Reporting

    Fact Sheet: "The Securities and Exchange Commission today voted unanimously to propose new rules entailing how security-based swap transactions should be reported and publicly disseminated. The rules are proposed under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which generally authorizes the SEC to regulate security-based swaps. The proposed rules (Regulation SBSR) represent an important step in the SEC's continuing effort to increase the transparency of the security-based swap market and fulfill mandates under the Dodd-Frank Act."

    November 18, 2010
    * Bipartisan Experts Agree that Social Security Shortfall Exists; Congress Should Act Soon To Fix It

    News release: "Social Security faces a significant shortfall, which policy makers would be better off addressing sooner rather than later, according to a new paper, Social Security Shortfall Warrants Action Soon, released by the Pew Economic Policy Group. Robert Greenstein, executive director of the Center on Budget and Policy Priorities, and Charles Blahous, public trustee for Social Security and Medicare and former economic adviser to President George W. Bush, coauthored Social Security Shortfall Warrants Action Soon. They agree that the shortfall is real and that policymakers should act soon to fix it. Although favoring different strategies to close the gap, they agree on the reality and scope of the problem."

    November 16, 2010
    * Examining the Consequences of Mortgage Irregularities for Financial Stability and Foreclosure Mitigation

    "The Congressional Oversight Panel's November oversight report, Examining the Consequences of Mortgage Irregularities for Financial Stability and Foreclosure Mitigation, reviews allegations that companies servicing $6.4 trillion in American mortgages may in some cases have bypassed legally required steps to foreclose on a home. The implications of these irregularities remain unclear, but it is possible that "robo-signing" may have concealed deeper problems in the mortgage market that could potentially threaten financial stability and undermine foreclosure prevention efforts."

  • Related postings on the financial system
  • November 01, 2010
    * Engineering the Climate: Research and Strategies for International Coordination

    Engineering the Climate: Research and Strategies for International Coordination, Chairman Bart Gordon, Committee on Science and Technology U.S. House of Representatives, October 2010

  • "Climate engineering, also known as geoengineering, can be described as the deliberate large scale modification of the earth’s climate systems for the purposes of counteracting and mitigating climate change. As this subject becomes the focus of more serious consideration and scrutiny within the scientific and policy communities, it is important to acknowledge that climate engineering carries with it not only possible benefits, but also an enormous range of uncertainties, ethical and political concerns, and the potential for harmful environmental and economic side effects. I believe that reducing greenhouse gas emissions should be the first priority of any domestic or international climate initiative. Nothing should distract us from this priority, and climate engineering must not divert any of the resources dedicated to greenhouse gas reductions and clean energy development. However, we are facing an unfortunate reality. The global climate is already changing and the onset of climate change impacts may outpace the world’s political, technical, and economic capacities to prevent and adapt to them. Therefore, policymakers should begin consideration of climate engineering research now to better understand which technologies or methods, if any, represent viable stopgap strategies for managing our changing climate and which pose unacceptable risks."
  • October 31, 2010
    * Google's Free Election Data Center and Updated Election News Section

    "Google Election Center helps you provide up-to-date election information to voters and create custom search tools for your website. You can submit the following kinds of information: Polling place locations; Registration instructions; Ballot information; State and local election office contact information. The Election Center Data Manager will guide you through the process of uploading and validating your information. After receiving your information, Google will display election information to your voters through our Maps application." See also:

  • "A special Google News section with stories for each state so you can easily catch up on the latest headlines."
  • U.S. State Department's Midterm Elections 2010 selective resource guide of reliable background sources, polls, blogs and politics-centric sites
  • October 20, 2010
    * FTC Testifies on the Rights of Employees Under the Fair Credit Reporting Act

    News release: "The Federal Trade Commission today told the Equal Employment Opportunity Commission that the Fair Credit Reporting Act (FCRA) imposes requirements on Consumer Reporting Agencies (CRAs) - which include the three major credit bureaus - and on employers that use the information “to ensure that sensitive consumer report information is used with fairness, impartiality, and respect for consumers’ privacy.” Commission testimony given by Maneesha Mithal, Associate Director of the FTC’s Division of Privacy and Identity Protection, states that FCRA requirements placed on CRAs and employers are designed to promote privacy, accuracy, and fairness in the use of consumer reports. For example, before giving a consumer report to an employer, the CRA must take reasonable steps to ensure that the employer has a legitimate basis to obtain the report; must inform the employer of his or her obligation to provide certain notices to consumers; and must obtain the employer’s certification that he or she is complying with the FCRA and will not use consumer report information in violation of equal opportunity laws."

    October 19, 2010
    * EIA Analysis of Selected Provisions of Domestic Manufacturing and Energy Jobs Act of 2010

    Analysis of Selected Provisions of the Domestic Manufacturing and Energy Jobs Act of 2010 — Oct 18, 2010

  • "This analysis service report responds to Janice Mays, Staff Director of the U.S. House of Representatives' Committee on Ways and Means, requesting that the U.S. Energy Information Administration (EIA) analyze several provisions included in the July 26, 2010, discussion draft of the Domestic Manufacturing and Energy Jobs Act of 2010. EIA was asked to analyze five specific provisions: an extension of the tax credit for manufacturers of energy efficient appliances (section 102); the establishment of Home Energy Conservation Bonds (HECBs) (section 301); an extension of the placed-in-service deadline for the 30 percent investment tax credit for offshore wind and geothermal properties (section 202); an extension of the Clean Renewable Energy Bonds (CREBs) program (section 203); and an investment tax credit for heavy vehicles using natural gas, hybrid electric, or all-electric drive (section 401)."
  • October 14, 2010
    * Congressional Oversight Panel Report - Examining Treasury’s Use of Financial Crisis Contracting Authority

    "The Congressional Oversight Panel's October oversight report, Examining Treasury's Use of Financial Crisis Contracting Authority, found that Treasury's extensive use of private contractors in Troubled Asset Relief Program (TARP) programs creates significant concerns about transparency and potential conflicts of interest. Although Treasury has taken considerable steps to ensure the appropriate use of private contractors, further improvements can and should be made. Private businesses today perform many of the TARP's most critical functions, operating under 91 different contracts worth up to $434 million. In fact, the vast majority of people working on the TARP now receive their paychecks from private companies. Fannie Mae alone employs 600 workers on TARP's foreclosure programs, while Treasury has only 220 staffers working on all TARP programs combined."

  • Related postings on financial system
  • October 13, 2010
    * Treasury: The American Opportunity Tax Credit

    The American Opportunity Tax Credit, Department of the Treasury, October 12, 2010: "The President created the American Opportunity Tax Credit (AOTC) as part of the American Recovery and Reinvestment Act, which he signed into law in February 2009. The AOTC replaces the Hope Scholarship credit for Tax Years 2009 and 2010, increasing the benefits for nearly all Hope credit recipients and many other students by providing a maximum benefit up to $2,500 per student – 100 percent of their first $2,000 in tuition and 25 percent of the next $2,000 –expanding the income range over which taxpayers can claim a credit, and making the credit partially refundable. If the AOTC is made permanent, as proposed in the President’s FY 2011 Budget, a student could receive a credit up to $10,000 over four years."

    October 12, 2010
    * Reps. Markey, Barton Release Responses From Websites on Tracking of Consumer Behavior

    Follow up to posting, WSJ Tracks how marketers are spying on Internet users, this news release: "Representatives Edward J. Markey (D-Mass.) and Joe Barton (R-Texas), Co-Chairman of the House Bi-Partisan Privacy Caucus, released responses to the letters they had sent to companies identified in a Wall Street Journal investigation as reportedly installing intrusive consumer-tracking technologies to track and/or target consumers visiting these company Web sites. “The responses [links to which are included in this news release] raise a number of concerns, including whether consumers are able to effectively shield their personal Internet habits and private information from the prying eyes of online data gatherers,” Rep. Markey said. “Consumers may be unaware that the sites they visit, coordinating with a cadre of analytics firms, advertising networks and offline data companies, may be tracking their activities around the Internet. While the responses that Rep. Barton and I received cite privacy policies and opt-out choices to enable consumers to preserve their privacy, these policies can be complicated and laborious to navigate. For example, a single website may have business relationships with a dozen or more third-party data firms that display advertisements on its site. A consumer may have to visit each of these sites, consulting its privacy policy and clicking through to opt-out, if such an option is provided. In some cases, a list of all third party affiliates is not readily accessible, keeping consumers in the dark.”

    October 11, 2010
    * New on LLRX.com: FOIA Facts - Mid-Term FOIA Grade for the Obama Administration

    LLRX.com: FOIA Facts - Mid-Term FOIA Grade for the Obama Administration - Scott A. Hodes provides perspective, and an overall grade, to how the administration has done during the first half of its first term in regard to FOIA.

    * White House Report to Congress on Afghanistan and Pakistan Strategy

    Unclassified White House Report to Congress on Afghanistan and Pakistan, addressed to Senator Carl Levin, Chairman, Armed Services Committee, September 30, 2010. The report notes "both positive and negative trends in the implementation of our Afghanistan and Pakistan strategy."

  • Via FAS: "The report described the progress — or lack thereof — made this year towards achieving eight specified objectives. Those objectives include enhancing stability and civilian control in Pakistan, improving Pakistan's counterinsurgency capabilities, and reversing the Taliban's momentum in Afghanistan, among others. (The disruption of terrorist networks in Afghanistan and Pakistan was addressed in an undisclosed classified annex.) The report was quite candid in its judgments. "Afghan anti-corruption efforts continue to be weak." The security situation in Pakistan is "tenuous." The Pakistani military has demonstrated an "inability" to maintain control of areas it seized from insurgents. During the second quarter of this year, "the Pakistan military continued to avoid military engagements that would put it in direct conflict with Afghan Taliban or al-Qa'ida forces in North Waziristan. This is as much a political choice as it is a reflection of an under-resourced military prioritizing its targets."
  • October 07, 2010
    * Senate Armed Services Committee Releases Report on the Role and Oversight of DoD’s Private Security Contractors in Afghanistan

    News release: "Sen. Carl Levin, chairman of the Senate Armed Services Committee, today released the report of the committee’s yearlong inquiry into the role and oversight of the Department of Defense’s private security contractors in Afghanistan. The Committee approved the report on Sept. 28, 2010. The committee’s investigation uncovered a significant amount of evidence that a number of security contractors working under Department of Defense contracts and subcontracts funneled U.S. taxpayer dollars to Afghan warlords and strongmen linked to murder, kidnapping, and bribery, as well as to Taliban and anti-Coalition activities. It also revealed wasted resources, dangerous performance failures, and wide gaps in government oversight that allowed such failures to persist. The report provides strong support for the decision by U.S. military commanders to take action against contracting practices that run contrary to the counterinsurgency mission."

  • Inquiry Into The Role and Oversight of Private Security Contractors in Afghanistan - Report Together With Additional Views of the Committee on Armed Services United States Senate, September 28, 2010
  • September 30, 2010
    * JEC Hearing: New Evidence on Gender Pay Gap for Women in Management

    "Are gender pay gaps more prevalent in some industries than others? Are women in management paying a price for being mothers? Are families who depend on the wages of Management Moms being penalized? The U.S. Congress Joint Economic Committee, chaired by Representative Carolyn B. Maloney, held a hearing, titled New Evidence on the Gender Pay Gap for Women and Mothers in Management, on September 28, 2010, to explore these questions. At the hearing, the Government Accountability Office (GAO) presented their findings of a comprehensive industry-by-industry assessment of wage differences between men and women managers. This report also, for the first time, takes an in-depth look at the impact of motherhood on the wage gap among managers and its impact on family incomes." Related documents as follows:

    • "In many countries of the world, traditions and social norms restrict women’s empowerment. The OECD Social Institutions and Gender Index (SIGI) offers a tool to measure these hidden instances of gender discrimination. Drawing on 12 innovative indicators, the index captures the underlying reasons for existing gender gaps. SIGI indicators are based on an in-depth assessment of the situation of women and men in 124 low- and middle income countries, 102 of which are ranked based on their performance in social institutions."
    • Targeting Inequity: The Gender Gap in U.S. Corporate Leadership, President and Chief Executive Officer, Catalyst, Inc.

    September 29, 2010
    * CBO: The Economic Outlook and Fiscal Policy Choices

    Statement of Douglas W. Elmendorf, Director, The Economic Outlook and Fiscal Policy Choices, before the Committee on the Budget United States Senate September 28, 2010

  • "CBO expects—as do most private forecasters—that the economic recovery will proceed at a modest pace during the next few years. In its projections released in August, CBO forecast that, under current laws governing federal spending and revenues, real (inflation-adjusted) gross domestic product (GDP) would increase by 2.8 percent between the fourth quarter of 2009 and the fourth quarter of 2010 and by 2.0 percent between the fourth quarters of 2010 and 2011. With economic growth so slow, the unemployment rate would remain above 8 percent until 2012 and above 6 percent until 2014. Since CBO completed that forecast, the economic data released have been weaker than the agency had expected, so if CBO was redoing the forecast today, it would project slightly slower growth in the near term."
  • Related postings on financial system
  • * Testimony by Fed Chair Bernanke on regulatory reform implementation

    Chairman Ben S. Bernanke, Regulatory Reform Implementation, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C., September 30, 2010

  • "A final element of the Federal Reserve's efforts to implement the Dodd-Frank Act relates to the transparency of our balance sheet and liquidity programs. Well before enactment, we were providing a great deal of relevant information on our website, in statistical releases, and in regular reports to the Congress. Under a framework established by the act, the Federal Reserve will, by December 1, provide detailed information regarding individual transactions conducted across a range of credit and liquidity programs over the period from December 1, 2007, to July 20, 2010. This information will include the names of counterparties, the date and dollar value of individual transactions, the terms of repayment, and other relevant information. On an ongoing basis, subject to lags specified by the Congress to protect the efficacy of the programs, the Federal Reserve also will routinely provide information regarding the identities of counterparties, amounts financed or purchased and collateral pledged for transactions under the discount window, open market operations, and emergency lending facilities."
  • Related postings on the financial system
  • September 24, 2010
    * FTC Testifies on Data Security Legislation

    News release: [On September 22, 2010] the Federal Trade Commission told a Senate Subcommittee that it supports proposed legislation that would require many companies to use reasonable data security policies and procedures and require those companies to notify consumers when there is a security breach. In testimony before the Committee on Science, Commerce, and Transportation Subcommittee on Consumer Protection, Product Safety and Insurance, Maneesha Mithal, Associate Director for Privacy and Identity Protection at the FTC told the Subcommittee that problems with data security and breaches affect a wide array of both businesses and nonprofit organizations..
    The testimony states that the agency suggests three additional measures that could be included in the proposed legislation to protect consumers. First, the provision that requires that companies notify consumers in the event of an information security breach should not be limited to entities that possess data in electronic form; second, the proposed requirements should be extended so that they apply to telephone companies; and third, the Commission suggests that the bill grant the agency rulemaking authority to determine circumstances under which providing free credit reports or credit monitoring may not be warranted."

    September 23, 2010
    * Hearing: Operating in the Digital Domain: Organizing the Military Departments for Cyber Operations

    House Armed Services Committee: The Terrorism, Unconventional Threats, and Capabilities Subcommittee met to receive testimony on Operating in the Digital Domain: Organizing the Military Departments for Cyber Operations, September 23, 2010.

    "The recent announcement that the Department of Defense (DOD) suffered a major compromise of classified military computer networks has renewed discussions about what more DOD and the government should do to operate in the digital domain. The establishment of U.S. Cyber Command and the announcement of a new cybersecurity strategy by Deputy Secretary of Defense William Lynn are important milestones, but more needs to be done....the Subcommittee is looking to discuss three main objectives for this hearing:

    • Understand the planned organizational structure for the Military Services cyber component organizations, and how they will present forces to U.S. Cyber Command (CYBERCOM).
    • Understand Service challenges to recruiting, retaining and training a cadre of cyber operations professionals.
    • Discuss initiatives supporting Service-specific requirements for cyber operations."
    • Links to prepared statements are here, here and here

    September 22, 2010
    * Hearing: Nine Years After 9/11 - Confronting the Terrorist Threat to the Homeland

    Statement of Secretary Janet Napolitano before the United States Senate Committee on Homeland Security and Governmental Affairs, Nine Years After 9/11: Confronting the Terrorist Threat to the Homeland, September 22, 2010

  • "Chairman Lieberman, Senator Collins, and members of the Committee: Thank you for this opportunity to testify on the continuing and evolving terrorist threat to the United States. Today I would like to highlight the main ways in which the terrorist threat to our country is changing - ways that increasingly challenge law enforcement and the intelligence community. I would also like to highlight some specific - though not exhaustive - ways that the Department of Homeland Security is moving to address this evolving threat...Homegrown terrorists represent a new and changing facet of the terrorist threat. To be clear, by "homegrown," I mean terrorist operatives who are U.S. persons and who were radicalized in the United States and learned terrorist tactics either here or in training camps in places such as the Federally Administered Tribal Areas of Pakistan. Terrorist organizations are increasingly seeking operatives who are familiar with the United States or the West. In their roles as terrorist planners, operational facilitators, and operatives, these individuals improve the terrorist groups' knowledge of Western and American culture and security practices, which can increase the likelihood that an attempted attack could be successful."
  • Related postings on 9/11
  • September 19, 2010
    * Report - Small Business Lending Declines, Hiring Flat

    News release: "As the Senate prepares to consider small business jobs legislation this week, a new report by the U.S. Congress Joint Economic Committee (JEC) shows that lending to small businesses has declined in 2010, small business hiring remains flat and the smallest firms continue to reduce hiring...The report, entitled Small Business Employment: Bank Lending Restrains Job Creation, uses an unpublished data series from the Bureau of Labor Statistics to update a May 2010 JEC report analyzing small business hiring between January 2001 and March 2010. The update, which includes data through May 2010, shows that small business hiring has not started to increase, although larger and mid-sized firms continue to increase hiring. Additionally, the report finds that the number of small business loans and the dollar value of these loans are both dropping. The number of loans made to small businesses, which peaked at 27.2 million in the second quarter of 2008, has fallen by over 4.8 million since then, a drop of 17.8 percent. The total value of those loans fell by $60 billion to approximately $650 billion."

  • Related postings on the financial system
  • * FTC Testifies Before House Judiciary Subcommittee on Antitrust in the Digital Age

    News release: "In testimony before a U.S. House of Representatives subcommittee, the Federal Trade Commission explained how it protects consumers by applying well-established principles of competition to fast-changing technology markets. “Some have argued that there should be different rules for markets characterized by rapid technological development, but Congress drafted the antitrust laws in general terms to accommodate changing markets and new products, and the laws are flexible enough to meet the challenges of the high-tech era,” said Bureau of Competition Director Richard Feinstein, testifying on behalf of the FTC before the House Committee on the Judiciary, Subcommittee on Courts and Competition Policy. The testimony discusses two recent FTC matters to illustrate the agency’s flexibility in investigating and bringing enforcement actions in high-tech markets. Last year, the FTC charged Intel Corporation with using unfair methods of competition dating back to 1999 to stifle competition. The agency recently reached a settlement with the company that will help restore lost competition and prevent Intel from suppressing competition in the future, while allowing the company to compete aggressively."

    September 16, 2010
    * Sunlight Foundation Announces House Rules Proposals for the 112th Congress

    House Rules Changes: Sunlight’s Proposals for the 112th Congress, September 16, 2010
    "The rules of the House and Senate have extraordinary influence. The Constitution, in granting each chamber the ability to “determine the rules of its proceedings,” has allowed Congress to create the evolving set of processes, norms and standards by which it functions. The rules define legislative order, construct a leadership power structure, lay out the committee system and establish rules for conduct and disclosure. The Rules of the House are routinely changed every two years at the beginning of each new Congress. While recent reforms have created more disclosure than ever before, congressional transparency reforms must be considered an imperative for congressional leadership. And the robust use of technology can make disclosure into a better ethics enforcer, a more effective educator and a strong arbiter of public policy. The House must redouble its commitment to transparency, and deepen the relationship between constituents and representatives. The 112th Congress can be the most open and accountable Congress ever, and online transparency can help Congress reach that goal. Sunlight has pored through the Rules of the House and identified a series of reforms. While this list applies specifically to the House, they can apply largely to the Senate as well. To learn more about our other solutions for a more open government beyond rules reform, such as greater campaign finance disclosure, lobbying reform and executive branch transparency, see our Policy Agenda."

    * Panel Tells Congress, Defense Department of Urgent Need to Enhance Nation's Preparedness for Domestic Disasters

    News release: "A panel of retired senior U.S. military officers, former Members of Congress, National Guard generals and academics with expertise in responding to domestic disasters today delivered to the Congress and the secretary of defense a far-reaching report that details how defense officials can better support the nation's response to a major disaster on United States soil. The congressionally mandated panel, supported by staff from the RAND Corporation, told lawmakers and the secretary that the United States has an urgent need to implement changes in the way the Department of Defense plans for and would respond to a chemical, biological, radiological, nuclear or high-yield explosive (CBRNE) incident. In all, the report provides more than 40 recommendations for the president, the Congress, the secretary of defense, other federal Cabinet secretaries and governors about how to overcome obstacles that complicate the nation's ability to respond effectively to CBRNE incidents...The Advisory Panel on Department of Defense Capabilities for Support of Civil Authorities After Certain Incidents was mandated by Congress through the National Defense Authorization Act for fiscal year 2008, as amended by the National Defense Authorization Act for fiscal year 2009."

  • Before Disaster Strikes - Imperatives for Enhancing Defense Support of Civil Authorities, September 15, 2010
  • September 15, 2010
    * Hearing on Domestic Nuclear Detection Office Programs

    News release: "Homeland Security and Governmental Affairs Committee Chairman Joe Lieberman, ID-Conn., and Ranking Member Susan Collins, R-Me., took Department of Homeland Security (DHS) officials to task Wednesday for the Department’s failure to complete a global architecture to detect the smuggling of nuclear materials, despite a five-year effort and the expenditure of $4 billion of taxpayer money. At a hearing entitled Nuclear Terrorism: Strengthening our Domestic Defenses, Part II, the Senators expressed their frustration and disappointment with the work of the Domestic Nuclear Detection Office (DNDO): its failure to develop a strategic plan to guide nuclear detection efforts by DHS agencies and the failure of its two largest acquisition programs - the Advanced Spectroscopic Portal (ASP) and the Cargo Advanced Automated Radiography Systems (CAARS) - that represent a combined investment of $400 million over five years."

    September 06, 2010
    * Coalition Demands FDA Deny Approval Of Controversial Genetically Engineered Fish

    News release: "A coalition of 31 consumer, animal welfare and environmental groups, along with commercial and recreational fisheries associations and food retailers submitted a joint statement criticizing an announcement this week by the U.S. Food and Drug Administration (FDA) that it will potentially approve the long-shelved AquAdvantage transgenic salmon as the first genetically engineered (GE) animal intended for human consumption. The engineered Atlantic salmon being considered was developed by AquaBounty Technologies, which artificially combined growth hormone genes from an unrelated Pacific salmon, (Oncorhynchus tshawytscha) with DNA from the anti-freeze genes of an eelpout (Zoarces americanus). This modification causes production of growth-hormone year-round, creating a fish the company claims grows at twice the normal rate. This could allow factory fish farms to crowd fish into pens and still get high production rates."

  • Public Still In The Dark On Transgenic Salmon: "A broad coalition of consumer and environmental groups, along with community fishing organizations and food retailers, declared today’s partial data release by the U.S. Food and Drug Administration (FDA) on the genetically engineered salmon up for approval as a human food product insufficient and unacceptable...In a letter sent {September 3, 2010] to FDA Principle Deputy Commissioner Joshua Sharfstein, Rep. Dennis Kucinich called on FDA to slow down its process and ensure that the public has sufficient time and all available data to provide meaningful and informed public comment. The letter requests FDA delay its public meetings by 30 days as well as provide a 90-day public comment period, currently absent from the GE salmon approval process. Rep. Kucinich is the Chairman of the House Domestic Policy Subcommittee, which has broad jurisdiction over many federal agencies, including FDA."
  • September 05, 2010
    * Committee Releases Details on BP's Advertising Expenditures Related to the Gulf Oil Spill

    Follow up to previous postings on the Gulf Coast oil spill, this news release: "Chairman Henry A. Waxman and Subcommittee Chairman Bart Stupak released information from BP regarding its spending on corporate advertising and marketing following the April 20, 2010, explosion at the Deepwater Horizon drilling rig. At the suggestion of Representative Kathy Castor, on August 16, 2010, the Chairmen sent a letter to BP requesting details on the company’s spending on corporate advertising and marketing relating to the Deepwater Horizon oil spill and relief, recovery, and restoration efforts in the Gulf of Mexico. [September 1, 2010] the Chairmen sent a letter to Representative Castor, summarizing BP’s response and acknowledging her leadership on this issue. According to BP, the company spent over $93 million on advertising between April 2010 and the end of July 2010 — more than three times the amount the company spent on advertising during the same period in 2009."

    September 02, 2010
    * Fed Chairman Testifies on Causes of the Recent Financial and Economic Crisis

    Chairman Ben S. Bernanke, Causes of the Recent Financial and Economic Crisis Before the Financial Crisis Inquiry Commission, hearing, Too Big to Fail: Expectations and Impact of Extraordinary Government Intervention and the role of Systemic Risk in the Financial Crisis, Washington, D.C., September 2, 2010

  • "If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved. Simple declarations that the government will not assist firms in the future, or restrictions that make providing assistance more difficult, will not be credible on their own. Few governments will accept devastating economic costs if a rescue can be conducted at a lesser cost; even if one Administration refrained from rescuing a large, complex firm, market participants would believe that others might not refrain in the future. Thus, a promise not to intervene in and of itself will not solve the problem."
  • Via New Yorker, commentary on this testimony by John Cassidy, author of How Markets Fail: The Logic of Economic Calamities
  • Related postings on financial system
  • August 25, 2010
    * Report: Women and the Economy 2010: 25 Years of Progress But Challenges Remain

    Women and the Economy 2010: 25 Years of Progress But Challenges Remain, August 2010
    Report by the U.S. Congress Joint Economic Committee

  • "On August 26, 2010, Americans will celebrate the 90th anniversary of the ratification of the 19th amendment, which granted women the right to vote and led to their increased participation in our political system. In 1984, Geraldine Ferraro shattered the political glass ceiling by becoming the first woman nominated to a national ticket and ushered in a new era of political leadership for
    women. Over the last quarter century, women have become a powerful political force, both as voters and as elected leaders. Did that political benchmark have implications for women’s economic well-being? Data compiled by the Joint Economic Committee suggest that the answer is yes."
  • August 24, 2010
    * Empowering Consumers: Can Financial Literacy Education Prevent Another Financial Crisis?

    House Financial Services Committee, Empowering Consumers: Can Financial Literacy Education Prevent Another Financial Crisis? August 24, 2010

  • Related postings on financial system
  • August 21, 2010
    * FOIA Lawsuit Raises Questions for Senator About Retention of Body Scanner Images

    Follow up to previous postings on government implementation of whole body scanning technology at airports, via EPIC: "The Chairman and Ranking Member of the Homeland Security Committee, along with four other Senators, have sent a letter to the head of the US Marshal Service to ask why the federal agency stored more than 35,000 images from whole body imaging scans taken at the Orlando federal courthouse. The letter follows a Freedom of Information Act lawsuit, filed by EPIC, in which the Marshal Service was forced to disclose the fact that it had stored body scanner images. EPIC has also filed an emergency motion in federal court to suspend the program, pending a thorough review of the airport body scanner program. For more information, see EPIC: Whole Body Imaging Technology and EPIC v. DHS (Suspension of Body Scanner Program). ">letter to the head of the US Marshal Service to ask why the federal agency stored more than 35,000 images from whole body imaging scans taken at the Orlando federal courthouse. The letter follows a Freedom of Information Act lawsuit, filed by EPIC, in which the Marshal Service was forced to disclose the fact that it had stored body scanner images. EPIC has also filed an emergency motion in federal court to suspend the program, pending a thorough review of the airport body scanner program."

    August 15, 2010
    * CRS: Conversion from the National Security Personnel System to Other Pay Schedules

    Conversion from the National Security Personnel System to Other Pay Schedules: Issues for Congress, July 15, 2010

  • "Most federal employees (59.1%) are paid on the General Schedule (GS), a pay scale that consists of 15 pay grades in which an employee's pay increases are to be based on performance and length of service. Some Members of Congress, citizens, and public administration scholars have argued that federal employee pay advancement should be more closely linked to job performance than it currently is on the GS. With these concerns in mind and with explicit congressional authorization, the Department of Defense (DOD) began developing the National Security Personnel System (NSPS) in 2003 as a unique pay scale attempting to more closely link employee pay to job performance. NSPS was beset by criticisms since it went into effect in 2006. The system faced legal and political challenges from unions and employees who claimed it was inconsistently applied and caused undeserved pay inequities, among other concerns. On October 7, 2009, House and Senate conferees reported a version of the National Defense Authorization Act for Fiscal Year 2010 that included language to terminate NSPS. On October 8, 2009, the House agreed to the conference report. The Senate agreed to the conference report on October 22, 2009. On October 28, 2009, the President signed the bill into law (P.L. 111-84). DOD must now return employees currently enrolled in NSPS to the GS or to the pay system that previously applied to them or their position. If the employee's position did not exist prior to NSPS or if the previous pay scale was abolished during NSPS's lifetime, DOD must determine an appropriate pay scale for the employee. The return to the GS or other pay system must be completed by January 1, 2012, pursuant to the law."
  • August 07, 2010
    * CDT Comparison Chart on Current Privacy Bills

    "CDT submits the following chart as an addendum to the written testimony of Leslie Harris, President and Chief Executive Officer of the Center for Democracy and Technology before the House Committee on Energy and Commerce, Subcommittee on Commerce, Trade, and Consumer Protection on The BEST PRACTICES Act of 2010 and Other Federal Privacy Legislation on July 22, 2010. The chart compares some of the key provisions in both bills, and issues CDT’s recommendations about the approach we believe privacy legislation should take."

  • Text of H.R. 5777, the BEST PRACTICES Act
  • Text of H.R. ___, a bill to require notice to and consent of an individual prior to the collection and disclosure of certain personal information relating to that individual.
  • August 06, 2010
    * Senate Report: President Obama and the Flawed Federal Response to the BP Disaster

    Follow up to postings on the Gulf Coast oil spill, this new United States Senate Report - President Obama and the Flawed Federal Response to the BP Disaster, An Oversight Report by Sen. James M. Inhofe, Ranking Member, Senate Committee on Environment and Public Works, August 2010

    August 05, 2010
    * 2010 Annual Report of Boards of Trustees of Federal Hospital Insurance Trust Fund and Federal Supplementary Medical Insurance Trust Fund

    2010 Annual Report of the Boards of Trustees of the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund

  • "In 2009, 46.3 million people were covered by Medicare: 38.7 million aged 65 and older, and 7.6 million disabled. About 24 percent of beneficiaries have chosen to enroll in Part C private health plans that contract with Medicare to provide Part A and Part B health services. Total benefits paid in 2009 were $502 billion. Income was $508 billion, expenditures were $509 billion, and assets held in special issue U.S. Treasury securities were $381 billion...The financial status of the Hospital Insurance (HI) trust fund is substantially improved by the lower expenditures and additional tax revenues instituted by the Affordable Care Act. These changes are estimated to postpone the exhaustion of HI trust fund assets from 2017 under the prior law to 2029 under current law and to 2028 under the alternative scenario. Despite this significant improvement, however, the fund is still not adequately financed over the next 10 years. HI expenditures have exceeded income annually since 2008 and are projected to continue doing so under current law through 2013. Beginning in 2014, trust fund surpluses are estimated to occur throughout the short-range projection period and for several years thereafter. The shortfalls projected for the next 4 years can be met by redeeming trust fund assets, which at the beginning of 2010 were $304 billion, but the asset balance would fall below the Trustees’ recommended minimum level starting in 2012 under the intermediate assumptions. The HI trust fund has not met the Trustees’ formal test of short-range financial adequacy since 2003. The SMI trust fund is adequately financed over the next 10 years and beyond because premium and general revenue income for Parts B and D are reset each year to match expected costs. However, further Congressional overrides of scheduled physician fee reductions, together with an existing “hold-harmless” provision restricting premium increases for most beneficiaries, could jeopardize Part B solvency and require unusual measures to avoid asset depletion."
  • August 04, 2010
    * United States Institute of Peace Releases Review of Quadrennial Defense Report

    News release: "On Thursday, July 29, the co-chairs of a select, bipartisan panel testified that their study of the Defense Department’s 2010 Quadrennial Defense Review (QDR) found that without needed reform the All-Volunteer Force may be unsustainable and that the nation needs a new national security strategic planning process that better incorporates civilian departments and agencies. Former National Security Adviser Stephen J. Hadley and former Secretary of Defense William J. Perry met with the House Armed Services Committee about their now-public report, The QDR in Perspective: Meeting America’s National Security Needs in the 21st Century. In their testimony, they summed up the panel’s warning that:

    • “The aging of the inventories and equipment used by the services, the decline in the size of the Navy, escalating personnel entitlements, increased overhead and procurement costs, and the growing stress on the force means that a train wreck is coming in the areas of personnel, acquisition, and force structure.”
    • “In addition, our nation needs to build greater civil operational capacity to deploy civilians alongside our military and to partner with international bodies, the private sector, and nongovernmental organizations in dealing with failed and failing states.”

    August 03, 2010
    * The Federal Government's Responsibilities and Liabilities Under the Nuclear Waste Policy Act

    The Federal Government's Responsibilities and Liabilities Under the Nuclear Waste Policy Act - Testimony before the House Committee on the Budget, July 27, 2010

  • "After signaling its intention to terminate a project to build a geologic repository for nuclear waste at Yucca Mountain—the only site where such waste is authorized to be stored under current law—the Administration announced in January 2010 the formation of a Blue Ribbon Commission to make recommendations on alternative means of storing, processing, and disposing of nuclear waste. In March, the Administration filed a motion with the Nuclear Regulatory Commission (NRC) to withdraw its license application to construct a permanent repository at Yucca Mountain. That motion was denied in June by a three-member NRC panel; the Administration has subsequently appealed that decision. Despite those developments, the federal government remains responsible for permanently disposing of spent nuclear fuel generated by civilian facilities, and the owners of those facilities continue to pay fees for that service. Regardless of how the government meets that responsibility, that task will require a significant amount of federal spending over many decades."
  • Committee on the Budget Chairman Spratt Opening Statement at Hearing on the Budgetary Implications of Closing Yucca Mountain
  • July 31, 2010
    * Analysis Shows Coast Guard Allowed BP, Spill Response Officials to Excessively Use Dispersants

    Follow up to postings on the Gulf Coast oil spill, this news release: "Rep. Edward J. Markey (D-Mass.), Chairman of the House Energy and Environment Subcommittee, [on July 30, 2010] released a letter sent to National Incident Commander Thad Allen and documents revealing that the U.S. Coast Guard, tasked with limiting BP’s use of toxic dispersants during the Gulf oil spill disaster, repeatedly allowed the oil company to use excessive amounts of the chemical on the surface of the ocean. These exemptions were granted on a daily basis despite a prior federal directive that the company cease that tactic to combat the spill except in “rare” circumstances. The exemptions were also extended to Houma Unified Command, an oil spill response center in Houma, La., which consists of U.S. Coast Guard and other personnel and reports to the Federal On Scene Coordinator. In many cases, these applications appeared to be rubber stamped by the Coast Guard, including pre-approvals for weeks’ worth of unlimited use, as well as retroactive approvals for surface applications of dispersants for which BP failed to obtain prior permission. These actions by the Coast Guard appear to have largely undercut a directive it co-signed with the U.S. Environmental Protection Agency that said that dispersant chemicals be used on the ocean’s surface only in “rare cases,” and only with advance approval. Rep. Markey's letter, based on an analysis conducted by the Energy and Environment Subcommittee staff, further showed that by comparing the amounts BP reported using to Congress to the amounts contained in the company’s requests for exemptions from the ban on surface dispersants it submitted to the Coast Guard, that BP often exceeded its own requests, with little indication that it informed the Coast Guard or that the Coast Guard attempted to verify whether BP was shooting past the approved volumes."

    July 29, 2010
    * House Financial Services Committee Approves Legislation to Legalize Internet Gaming

    News release: "July 28, 2010, the House Financial Services Committee passed legislation to enable Americans to bet online and put an end to an inappropriate interference with their personal freedom. H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States. The legislation comes in response to the enactment of Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted the use of the payments system for Americans who gamble online."

  • "The Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the U.S., on the condition that they maintain effective protections against underage gambling, compulsive gambling, money laundering and fraud, and enforce prohibitions or restrictions on types of gambling prohibited by states, and Indian Tribes."
  • July 24, 2010
    * FTC Testifies on Efforts to Protect Consumer Privacy

    News release: "The Federal Trade Commission testified [July 22, 2010] about FTC efforts to protect consumer privacy and commented on legislative proposals to improve privacy protections before the U.S. House Subcommittee on Commerce, Trade, and Consumer Protection of the Committee on Energy and Commerce. The testimony presented by David Vladeck, Director of the FTC’s Bureau of Consumer Protection, described the FTC’s law enforcement actions to hold companies accountable for protecting consumer privacy, focusing on data security, identity theft, children’s privacy, and protecting consumers from intrusive spam, spyware, and telemarketing. The testimony noted that the FTC has brought 28 actions charging businesses with failing to protect consumers’ personal information and 15 actions charging website operators with collecting information from children without parents’ consent. The FTC also has brought 15 spyware cases and dozens of actions challenging illegal spam, including an action against a rogue Internet Service Provider that resulted in a temporary 30 percent drop in spam worldwide. Finally, the FTC has brought 64 actions alleging violations of the Do Not Call Rule, resulting in violators paying almost $40 million in civil penalties and giving up nearly $18 million, including consumer redress."

    * More Fallout from Failed Attempt to Modernize FBI Computer System

    News release: "Senator Chuck Grassley is pressing the Director of the FBI for additional information about its latest attempt to modernize its antiquated computer system. Grassley sent a letter to Director Robert Mueller following reports that a stop work order had been placed on both phases 3 and 4 of the Sentinel contract with Lockheed Martin. “The FBI has been trying to get its computer system up to speed for a decade. It appears that the third iteration of a modern FBI computer system is about to fail. Hundreds of millions of dollars have been spent on a system that is little more than a fancy personnel management system. Taxpayers deserve an answer about the continued failure of the FBI and where the hundreds of millions of dollars went,” Grassley said. “I want to know exactly how much more taxpayer money the FBI intends to spend and when the system will be completed and in working order. The FBI needs a modern computing system, on time and on budget, for our intelligence community to stay ahead of the new and evolving threats facing our country...”

    July 21, 2010
    * Testimony by Chairman Bernanke on the Semiannual Monetary Policy Report to the Congress

    Chairman Ben S. Bernanke, Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C., July 21, 2010

  • Chairman Dodd, Senator Shelby, and members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to the Congress.
  • Economic and Financial Developments: "The economic expansion that began in the middle of last year is proceeding at a moderate pace, supported by stimulative monetary and fiscal policies. Although fiscal policy and inventory restocking will likely be providing less impetus to the recovery than they have in recent quarters, rising demand from households and businesses should help sustain growth. In particular, real consumer spending appears to have expanded at about a 2-1/2 percent annual rate in the first half of this year, with purchases of durable goods increasing especially rapidly. However, the housing market remains weak, with the overhang of vacant or foreclosed houses weighing on home prices and construction."
  • Related postings on financial system
  • * Financial Stability of Continuing Care Retirement Communities

    News release: "Senator Herb Kohl, Chairman of the Special Committee on Aging, held a hearing on continuing care retirement communities (CCRCs), which provide separate housing for seniors who are able to live independently, who require help in an assisted living facility, and who require more intensive care in a nursing home. The Committee examined issues of financial stability and potential risks to consumers who pay large entrance fees – sometimes representing their life savings – in order to join such communities. One witness discussed his experience as a resident of a CCRC that went bankrupt, resulting in the loss of his refundable entrance deposit...As part of the hearing, Chairman Kohl released an investigative report based on the responses received to letters of inquiry sent to five CCRC providers earlier this year. The Committee found many CCRC ownership structures to be very complex, and that financial troubles at any level can have real consequences for individual residents. Unfortunately, financial statements of a parent entity owner or owners are not always included or available in the financial disclosures of a CCRC. Evaluating the merits of a CCRC and judging the risk involved with this type of investment is extremely challenging for an individual consumer without professional assistance. As part of the report, the Committee developed its own checklist for state regulators who wish to expand or improve their oversight of CCRCs...Chairman Kohl also released a study from the U.S. Government Accountability Office (GAO), which found that regulatory approaches and the agencies responsible for the oversight of CCRCs vary considerably among states. In fact, 12 states do not have any CCRC-specific regulations. Consumer safeguards and protections regarding disclosure, asset reserves, and escrow requirements differ widely, and only 17 states require CCRCs to submit studies that assess their long-term viability. Finally, only 294 CCRCs (about 16 percent) are voluntarily accredited by the Continuing Care Accreditation Commission."

    July 20, 2010
    * Testimony: International cooperation and financial regulatory modernization

    Governor Daniel K. Tarullo - International cooperation and financial regulatory modernization, Before the Subcommittee on Security and International Trade and Finance, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C., July 20, 2010

  • "When you held a hearing on this topic in the fall, I gave an overview of the Federal Reserve's role in international cooperative activities and reviewed some pertinent recent developments. In my testimony today, I will begin by enumerating the goals that should inform U.S. participation in international regulatory and supervisory activities. Then I will turn to some of the issues you identified in your invitation letter as being of interest to the Subcommittee in this hearing: the Federal Reserve's role in the international financial reform efforts--including our work on the Basel III reforms, cross-border crisis management and resolution, and incentive compensation--and a preliminary assessment of the likely effect of the Dodd-Frank Act of 2010 on international financial reform. Finally, I will close with a few thoughts on the future role of the Financial Stability Board (FSB) and other international regulatory bodies as we move from the design of financial regulatory reforms to implementation of the new framework."
  • Related postings on financial system
  • * New Yorker: Obama’s economic adviser and his battles over the financial-reform

    The Volcker Rule - Obama’s economic adviser and his battles over the financial-reform bill, by John Cassidy: "Volcker believes that commercial banks, such as Citigroup and Wells Fargo, are worthy of receiving government assistance—and even, in extremis, taxpayer bailouts—because firms and consumers depend upon them for credit. In return for these enterprises being sheltered, they should refrain from risky activities such as proprietary trading and sponsoring hedge funds. “If you are going to be a commercial bank, with all the protections that implies, you shouldn’t be doing this stuff,” Volcker said to me. “If you are doing this stuff, you shouldn’t be a commercial bank.”

  • Related postings on financial system
  • July 18, 2010
    * WSJ: Historic Finance Bill Includes Major New Rules Affecting Nearly Every Corner of Investing World

    Follow up to Dodd-Frank Wall Street Reform and Consumer Protection Act - HR 11-517 and Senate passage of the bill by a 60-39 vote on July 15, 2010, via WSJ: "Buried in the bill's 800-odd pages are the most sweeping regulatory changes for ordinary investors in decades, affecting everything from mutual funds and retirement plans to single-stock investments and other holdings. The legislation has the potential to make brokers more accountable to their clients, shine light on hedge funds and improve the transparency of the complex derivatives on which many mutual funds and pension plans rely to hedge their risks."

  • Related postings on financial system
  • * CRS - The Budget Reconciliation Process: The Senate's "Byrd Rule"

    The Budget Reconciliation Process: The Senate's "Byrd Rule", July 02, 2010

  • "During the first five years that the Byrd rule was in effect, from late 1985 until late 1990, it consisted of two separate components—(1) a provision in statute applying to initial Senate consideration of reconciliation measures, and (2) a Senate resolution extending application of portions of the statutory provision to conference reports and amendments between the two houses. Several modifications were made to the Byrd rule in 1986 and 1987, including extending its expiration date from January 2, 1987, to January 2, 1988, and then to September 30, 1992, but the two separate components of the rule were preserved. In 1990, these components were merged together and made permanent when they were incorporated into the Congressional Budget Act (CBA) of 1974 as Section 313. There have been no further changes in the Byrd rule since 1990."
  • July 17, 2010
    * Hearing: Planning for the Future of Cyber Attack Attribution

    "EPIC Executive Director Marc Rotenberg testified [July 15, 2010]before the House Committee on Science and Technology regarding Planning for the Future of Cyber Attack Attribution. In his prepared statement, Mr. Rotenberg discussed "the risks and limitations of a mandatory Internet ID that may be favored by some as a way to address the risk of cyber attack." He explained how such a proposal would implicate human rights and online freedom, and questioned the constitutionality of such a measure. EPIC recommended that efforts continue to focus on improving security standards, deploying encryption, and requiring federal agencies to remain transparent as they develop cyber security policies."

    July 16, 2010
    * Joint Economic Committee Annual Report: - Recovery Fragile, Targeted Actions Needed

    News release: "Today, the U.S. Congress Joint Economic Committee (JEC), chaired by Representative Carolyn B. Maloney (D-NY), released the 2010 Joint Economic Report, which provides an overview of the state of the U.S. economy at the halfway point in 2010. The annual report, mandated by the requirements from the 1946 Employment Act, details the lasting effects of the Great Recession and the recovery now underway, and explains why additional actions are needed to support America’s recovering economy...The 2010 Joint Economic Report makes clear that the economy has a long road to tread before it fully heals, and that continuing to enact targeted, cost-effective policies will push the economy along and reduce the likelihood that it falls into an abyss. Key findings from the first half of 2010 include a rebound by manufacturers — which had reduced their payrolls substantially during the Great Recession — but in 2010 registered the largest six-month gain in employment since 1998."

  • Related postings on financial system
  • July 15, 2010
    * House Judiciary Committee Releases Interview of Torture Memo Author Bybee and Sends to Justice Department

    News release: "House Judiciary Committee Chairman John Conyers, Jr. D-Mich.) today released the transcript of the Committee’s interview of Judge Jay Bybee, former assistant attorney general for the Justice Department’s Office of Legal Counsel during the administration of President George W. Bush and author of two of the Bush administration’s most infamous "torture memos." "This testimony reveals that many brutal techniques reportedly used in CIA interrogations were not authorized by the Justice Department – the author of these legal memos has now admitted this on the record," Conyers said. "These statements are highly relevant to the pending criminal investigation of detainee abuse and I have provided the Committee’s interview to the Justice Department and directed my staff to cooperate with any further requests for information."

    Jay Bybee Interview Transcript and Related Materials

    July 14, 2010
    * CEA Releases Fourth Quarterly Report on the Economic Impact of the Recovery Act

    Executive Office of the President, Council of Economic Advisers - The Economic Impact of the American Recovery and Reinvestment Act of 2009, Fourth Quarterly Report, July 14, 2010

  • "As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009 (ARRA), the Council of Economic Advisers (CEA) is charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular. In this fourth report, we provide an assessment of the effects of the Act through the second quarter of 2010. Evaluating the impact of countercyclical macroeconomic policy is inherently difficult because we do not observe what would have happened to the economy in the absence of policy. Because of the challenges in the analysis, we approach the task of estimating the impact of the Recovery Act from a number of different directions, and supplement our estimates with those of numerous outside analysts...Government investment outlays in areas such as infrastructure, clean energy, and communications technology increased by roughly 50 percent between the first and second quarters of 2010."
  • Related postings on financial system
  • * Federal Agencies Release Annual Report to Congress on Scholarship Fraud

    News release: "The Federal Trade Commission, the Department of Justice, and the Department of Education have issued their annual report to Congress pursuant to the College Scholarship Fraud Prevention Act, describing their continued efforts to combat scholarship and financial aid fraud. Each year, millions of students seek help in financing their college education, and some fall prey to scholarship and financial aid scams that “guarantee” money for college in exchange for a fee. This report provides an update of the agencies’ activities to prevent and prosecute financial aid fraud, including the FTC’s law enforcement efforts and the agency’s consumer education campaign to help students, parents, educators, and financial aid administrators identify and avoid financial aid scams."

  • College Scholarship Fraud Prevention Act of 2000, Annual Report to Congress, July 2010
  • July 13, 2010
    * House Majority Leader Majority Leader Hoyer Unveils House Floor Feed

    News release: "House Majority Leader Steny H. Hoyer (MD) unveiled today a newly expanded service from the Majority Leader’s Office that provides the latest internal information about what is happening on the House Floor: “Beginning today, all House Democratic staff will have access to regular updates on what’s happening on the House Floor through the ‘House Floor Feed,’ which will be available on DemCom, the House Democratic intranet. Blackberry access to the Floor Feed will be available soon. This regularly updated Floor Feed will provide a valuable service to Democratic Members and staff by helping to keep them informed on up-to-the-minute developments on the House Floor. I am committed to using all of the tools at our disposal to ensure the quickest and most effective communication between my office and the entire Democratic Caucus, and the Floor Feed is just another example of how we can best utilize technology as an informational tool.” Beginning a few months ago, this online resource was made available to Democratic Chiefs of Staff and Legislative Directors. Beginning today, access has been expanded to all House Democratic staff."

    July 05, 2010
    * America Speaks Out -Yet Another E-Gov Site Reaches out for Comments and Collaboration

    America Speaks Out: "This site was developed as part of an official effort to increase the dialogue between Americans and their Congress. Here, Americans are provided a new platform to share their priorities and ideas for a national policy agenda. As House Republicans, we are committed to our principles of limited, more accountable government; economic freedom; lower taxes; fiscal responsibility; protecting life, American values, and the Constitution; and providing for strong national security. This is an open forum, however, where all Americans are welcome to respectfully offer their opinions, regardless of party affiliation and whether we endorse them or not. It is our hope the active engagement of the American people will produce a robust debate that will aid in the construction of a new American agenda. This website is paid for with official funds of the Office of the House Minority Leader – no political or campaign funds have been used for any portion of the America Speaking Out project."

    July 02, 2010
    * Securing Protections for the Injured from Limitations on Liability Act

    Follow up to postings on the Gulf Coast oil spill see H.R.5503 - Securing Protections for the Injured from Limitations on Liability Act. Sponsor: Rep Conyers, John, Jr. [MI-14] (introduced 6/10/2010) Cosponsors (26). Latest Major Action: 7/1/2010. Passed/agreed to in House. Status: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. House Reports: 111-521 Part 1

  • "Amends the Death on the High Seas Act to extend from 3 to 12 miles from the U.S. shore the high seas jurisdiction wherein a death by a wrongful act, neglect, or default of a person or vessel will allow the personal representative of the decedent to bring a civil action in admiralty (as under current law) or law. Allows such a civil action to be brought, also, by the decedent's spouse, parent, child, or dependent relative. Allows recovery in such an action for fair compensation for nonpecuniary loss (loss of care, comfort, and companionship) as well as pecuniary loss, as under current law, plus a fair compensation for the decedent's pain and suffering. Allows substitution of the decedent's spouse, parent, child, or dependent relative as a plaintiff in an action for personal injury caused by wrongful act, neglect, or default under the Act, if the plaintiff dies during the action as a result of the wrongful act. Amends the Jones Act to allow recovery for loss of care, comfort, and companionship by a seaman injured in the course of employment or the seaman's personal representative if the seaman dies from the injury."

  • * CRS: From Solicitor General to Supreme Court Nominee: Responsibilities, History, and the Nomination of Elena Kagan

    From Solicitor General to Supreme Court Nominee: Responsibilities, History, and the Nomination of Elena Kagan, by Susan Navarro Smelcer, Analyst on the Federal Judiciary. Kenneth R. Thomas, Legislative Attorney, June 23, 2010

  • "On May 10, 2010, President Obama nominated Solicitor General Elena Kagan to replace retiring Justice John Paul Stevens. If confirmed, Elena Kagan would be the first serving Solicitor General to be appointed to the Court since the elevation of Thurgood Marshall in 1967. She would also be only the fifth of 111 Justices to come to the bench with such experience. Given that Solicitor General Kagan has made few public statements on important legal and policy issues, some have looked to her record as Solicitor General for some indication of her views. Others have looked to her time as Solicitor General as an important element of her professional experience, especially in light of the criticism of some that her lack of judicial and litigation experience make her unqualified to sit on the bench. Understanding the role and responsibilities of the Solicitor General can provide a useful backdrop against which to evaluate Elena Kagan’s statements and official actions and assess her professional qualifications."
  • June 28, 2010
    * CBO Cost Estimate: H.R. 4173 Dodd-Frank Wall Street Reform and Consumer Protection Act

    Follow up to postings on Dodd-Frank Wall Street Reform and Consumer Protection Act, the "CBO and the Joint Committee on Taxation (JCT) estimate that enacting H.R. 4173 would increase revenues by $17.1 billion over the 2011-2015 period and by $26.9 billion over the 2011-2020 period and increase direct spending by $14.9 billion and $26.9 billion, respectively, over the same periods. In total, CBO estimates those changes would reduce budget deficits by $2.3 billion over the 2011-2015 period. The changes in revenues and direct spending from enacting H.R. 4173 would have no net effect on budget deficits for the full 2011-2020 period. Because enacting the legislation would affect direct spending and revenues, pay-as-you-go procedures apply. CBO has not prepared an estimate of the changes in discretionary spending that would arise from implementing the conference agreement."

    June 27, 2010
    * Dodd-Frank Wall Street Reform and Consumer Protection Act

    House Financial Services Committee press release: "Dodd-Frank Wall Street Reform and Consumer Protection Act - Create a Sound Economic Foundation to Grow Jobs, Protect Consumers,Rein in Wall Street, End Too Big to Fail, Prevent Another Financial Crisis: "Americans have faced the worst financial crisis since the Great Depression. Millions have lost their jobs, businesses have failed, housing prices have dropped, and savings were wiped out. The failures that led to this crisis require bold action. We must restore responsibility and accountability in our financial system to give Americans confidence that there is a system in place that works for and protects them. We must create a sound foundation to grow the economy and create jobs."

    * An Empirical Analysis of the Senate Judiciary Committee Hearings of Supreme Court Nominees, 1939-2009

    May it Please the Senate: An Empirical Analysis of the Senate Judiciary Committee Hearings of Supreme Court Nominees, 1939-2009, Lori A. Ringhand, University of Georgia School of Law and Paul M. Collins Jr., University of North Texas, June 25, 2010. UGA Legal Studies Research Paper No. 10-12

  • "This paper examines the questions asked and answers given by every Supreme Court nominee who has appeared to testify before the Senate Judiciary Committee since 1939. In doing so, it uses a new dataset developed by the authors. This database, which provides a much-needed empirical foundation for scholarship in emerging areas of constitutional law and political science, captures all of the statements made at the hearings and codes these comments by issue area, subissue area, party of the appointing president, and party of the questioning senator. The dataset allows us to quantify for the fist time such things as which issues are most frequently discussed at the hearings, whether those issues have changed over time, and whether they vary depending on the party of the appointing president and the party of the questioning senator. We also investigate if questioning patterns differ depending on the race or gender of the nominee. Some of our results are unsurprising: for example, the hearings have become longer. Others, however, challenge conventional wisdom: the Bork hearing is less of an outlier in several ways than is frequently assumed, and abortion has not dominated the hearings. We also discover that there is issue area variation over time, and that there are notable disparities in the issues addressed by Democratic versus Republican senators. Finally, we find that female and minority nominees face a significantly different hearing environment than do white male nominees."
  • See also previous postings on Supreme Court Nominee Elena Kagan
  • * Legislating Consumer Privacy Online & Off

    Legislating Consumer Privacy Online & Off: Last month, Congressmen Rick Boucher and Cliff Stearns, respectively Chairman and Ranking Member of the House Subcommittee on Communications, Technology and the Internet, released a discussion draft of legislation "to assure the privacy of information about individuals both on the Internet and offline." This is the most significant movement in over half a decade to craft privacy rules for consumers in the digital age."

    June 24, 2010
    * The Protecting Cyberspace as a National Asset Act of 2010

    The Protecting Cyberspace as a National Asset Act of 2010 - This webpage links to facts sheets, summaries, comparisons and other relevant documents on this controversial legislation.

  • Myth v. Reality The Facts About S. 3480, “Protecting Cyberspace as a National Asset Act of 2010
  • United States Senate Committee on Homeland Security and Governmental Affairs, Senator Joseph I. Lieberman, Chairman, Senator Susan M. Collins, Ranking Member: "Our proposed legislation would modernize efforts to safeguard the nation’s cyberspace networks by creating a more robust organizational structure. This framework would enhance public-private partnerships to build preparedness and resiliency, strengthen the security of federal systems and improve awareness of cyberthreats across the country."
  • June 22, 2010
    * Barney Frank Announces House Offer on Prudential Regulation

    News release: "House Financial Services Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below. The issues will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 1:00 p.m. tomorrow.

  • Title VI of base text: Improvements to Regulation of Bank and Savings Association Holding Companies and Depository Institutions
  • Related postings on financial system
  • * The Wall Street Reform Bill: June 22, 2010 Conference Update

    News release: "Today House and Senate conferees again met on the bill to bring accountability to Wall Street. The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives. A list of House and Senate offers and counter offers can be found by clicking here."

  • Related postings on financial system
  • June 20, 2010
    * Markey: Internal BP Document Shows Worst Case Scenario for Spill Could Be 100,000 Barrels Per Day

    Follow up to postings on the Gulf Coast oil spill, this press release: "Today Representative Ed Markey (D-Mass.) released an internal BP document showing that the company's own analysis believed that a worst-case scenario, based on damage to the well bore, could result in 100,000 barrels of oil per day. In the document, BP stated: If BOP and wellhead are removed and if we have incorrectly modeled the restrictions – the rate could be as high as ~ 100,000 barrels per day up the casing or 55,000 barrels per day up the annulus (low probability worst cases). This number is in sharp contrast to BP’s initial claim that the leak was just 1,000 barrels a day. At the time this document was made available to Congress, BP claimed the leak was 5,000 barrels a day, and told Members of the House Energy and Commerce Committee that the worst case scenario was be 60,000 barrels a day. This document tells a different story."

    June 19, 2010
    * FBI Posts Edward “Ted” M Kennedy's File

    News release includes links to referenced documents: "Edward “Ted” Moore Kennedy served as U.S. senator for the state of Massachusetts from November 7, 1962 until his death. He was a long-time leader in the Democratic Party and candidate for that party’s presidential nomination. During his senate tenure, Kennedy served in several senior leadership positions, including stints as the chair of the Judiciary Committee, the Labor and Human Resource Committee, and the Health, Education, Labor, and Pensions Committee. Kennedy was born in Dorchester—a subdivision of the city of Boston, Massachusetts—and was educated at Harvard College and the University of Virginia’s School of Law. The son of Joseph P. Kennedy, Ted Kennedy was the brother of President John F. Kennedy and Attorney General Robert Kennedy. He died on August 25, 2009 and is buried in Arlington National Cemetery. This release consists of material from seven FBI files—three Headquarters files and four field division files, totaling more then 2,200 pages. It covers the FBI’s relationship with Senator Kennedy from 1961 to 1985. At no point do these files suggest that the FBI investigated Senator Kennedy for a criminal violation or as a security threat. The bulk of this material concerns FBI investigation of threats of violence and other extortion claims against Senator Kennedy and other public officials."

    June 16, 2010
    * New on LLRX.com: FOIA Facts - Ideas for Faster FOIA Processing

    FOIA Facts - Ideas for Faster FOIA Processing: Scott A. Hodes notes that in the current Congress there are bills pending that would create a commission to come up with ideas for faster FOIA processing. He contends that by taking those ideas, along with a few days of congressional oversight hearings to solicit other opinions, Congress would have ample information to create an actual bill that would implement faster FOIA processing now rather than wait for a "commission" to come up with these same ideas.

    June 15, 2010
    * Hearing on “Drilling Down on America’s Energy Future: Safety, Security, and Clean Energy”

    Follow up to postings on the Gulf Coast oil spill, briefing memo for Hearing entitled Drilling Down on America’s Energy Future: Safety, Security and Clean Energy: "The United States’ dependence on foreign oil has also increased over time. In 1995, the United States imported 45 percent of its oil. By 2008, that number had increased to 57 percent. As a result, the U.S. economy spent roughly $900 billion on petroleum products in 2008. While prices and consumption have decreased in 2009 as a result of the economic downturn, the United States still imported nearly 52 percent of the oil it consumed last year. The United States possesses only 2 percent of the world’s proven oil reserves but consumes roughly 25 percent of the world’s oil."

  • From the Opening Statement of Rep. Henry A. Waxman - Chairman, Committee on Energy and Commerce: "One of the central questions for today’s hearing is whether the other oil companies are any better prepared than BP. Last week, after receiving a request from Rep. Weiner, the Committee asked each of the five major oil companies for their oil spill response plans. On paper, these are impressive documents. Each is 500 or more pages long. But what they show is that ExxonMobil, Chevron, ConocoPhillips, and Shell are no better prepared to deal with a major oil spill than BP. The same company – the Response Group – wrote the five plans and described them as “cookie cutter” plans. Much of the text is identical. Four of the plans discuss how to protect walruses, but there are no walruses in the Gulf of Mexico [emphasis added]."
  • * Frank Announces House Offer on Investor Protection, Executive Compensation, Fed and Emergency Liquidity Provisions

    Follow up to Frank Announces House Offer to Base Text on Private Funds, Credit Rating Agencies, Thrifts and Insurance, this new announcement: "Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below. The issues will be subject to debate when the House-Senate Conference Committee convenes in room 2128 Rayburn at 11:00 a.m. [June 16, 2010].

    June 14, 2010
    * Frank Announces House Offer to Base Text on Private Funds, Credit Rating Agencies, Thrifts and Insurance

    News release: "Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below. The issues will be subject to debate when the House-Senate Conference Committee convenes June 15, 2010. The issues for tomorrow’s offer:

    * BP Responds to Admiral's Call for Fast Implementation of New Safety and Redundancy Plans

    Follow up to posting, Coast Guard R. Admiral Gives BP 48 Hours to Identify Leak Containment Capacity, this new letter inclusive of graphs, from BP responding to the Admiral's directive that "sets out the plans for rebuilding additional capacity and redundancy for the containment of oil from the Deepwater Horizon oil spill..."

  • See also this slide show from the League of Conservation Voters: Oil Spill and Energy Bill Update Presented by: Benenson Strategy Group
    June 2010
  • June 13, 2010
    * WMD Prevention and Preparedness Act of 2010

    News release: "Rep. Bill Pascrell (D-NJ) and Rep. Peter T. King (R-NY), Ranking Member of the Committee on Homeland Security, introduced H.R. 5498, The WMD Prevention and Preparedness Act of 2010. This legislation will make progress toward implementing the recommendations of the WMD Commission and will improve U.S. efforts to prevent, deter, detect, and respond to an attack by a weapon of mass destruction."

    * ACLU Marks 47th Anniversary Of Equal Pay Act With Call To Pass Paycheck Fairness Act

    News release: "The American Civil Liberties Union marks the 47th anniversary of the Equal Pay Act with a call for the Senate to pass S. 182, the Paycheck Fairness Act. President John F. Kennedy signed the Equal Pay Act of 1963 into law 47 years ago Thursday, prohibiting wage discrimination based on sex. However, since its passage, loopholes and weak remedies have watered down the Act’s effectiveness. Forty-seven years after the passage of the Equal Pay Act, women still make, on average, 77 cents for every dollar earned by a man. The Paycheck Fairness Act would provide a much needed update to the Equal Pay Act, closing loopholes in the current law, strengthening weak remedies and taking steps to finally close the wage gap."

    June 09, 2010
    * Fed Chair Bernanke - Economic and financial conditions and the federal budget

    Testimony by Chairman Ben S. Bernanke - Economic and financial conditions and the federal budget, before the Committee on the Budget, U.S. House of Representatives, Washington, D.C., June 9, 2010

  • "The recovery in economic activity that began in the second half of last year has continued at a moderate pace so far this year. Moreover, the economy--supported by stimulative monetary policy and the concerted efforts of policymakers to stabilize the financial system--appears to be on track to continue to expand through this year and next. The latest economic projections of Federal Reserve Governors and Reserve Bank presidents, which were made near the end of April, anticipate that real gross domestic product (GDP) will grow in the neighborhood of 3-1/2 percent over the course of 2010 as a whole and at a somewhat faster pace next year.1 This pace of growth, were it to be realized, would probably be associated with only a slow reduction in the unemployment rate over time. In this environment, inflation is likely to remain subdued."
  • Related postings on financial system
  • June 08, 2010
    * Report: Revolving Door Spins Quickly Between Congress, Wall Street

    News release: "Organizations in the financial services sector have deployed at least 1,447 former federal employees to lobby Congress and federal agencies since the beginning of 2009, according to a joint analysis of federal disclosure records and other data released today by Public Citizen and the Center for Responsive Politics. This small army of registered financial services sector lobbyists includes at least 73 former members of Congress, of whom 17 served on the banking committees of either the U.S. House of Representatives or the Senate. At least 66 industry lobbyists worked for these committees as staffers, while 82 additional lobbyists once worked for congressional members who currently serve on these key committees."

  • Report: Banking on Connections - Financial Services Sector Has Dispatched Nearly 1,500 “Revolving Door” Lobbyists Since 2009, released June 3, 2010
  • Related postings on financial system
  • May 31, 2010
    * CBO: Health Costs and the Federal Budget

    Health Costs and the Federal Budget, May 2010. CBO Director Doug Elmendorf's presentation to the Institute of Medicine.

  • "Rising health costs will put tremendous pressure on the federal budget during the next few decades and beyond. In CBO’s judgment, the health legislation enacted earlier this year does not substantially diminish that pressure."
  • May 27, 2010
    * Rep. Markey: Markey: Flow Rate Report Shines Light on BP’s Financial Liability, True Size of Spill

    Follow up to postings on the Gulf Coast oil spill this news release: "Rep. Edward J. Markey (D-Mass.) today continued to raise questions about BP’s potential motivations to low-ball the flow rate and size of the spill, and released new documents showing BP knew the spill could have been much bigger than they claimed. The report, conducted by the National Incident Command’s Flow Rate Technical Group, found that the spill was likely between 12,000 and 19,000 barrels a day, far above the 1,000-5,000 barrels a day BP estimated for most of the spill’s duration. Rep. Markey has engaged with numerous independent scientists on this issue who claimed the spill was much larger than BP’s estimates...Yesterday Rep. Markey pressed this point with Interior Secretary Ken Salazar, citing documents he obtained from BP that showed BP knew as early as a week after the explosion on the Deepwater Horizon rig that the spill could have been much higher than their initial estimate of 1,000 barrels. Secretary Salazar agreed with Rep. Markey that BP could have a financial interest in underestimating the size of the spill.

  • The documents can be found HERE and HERE
  • See also New York Times: BP Resumes Work to Plug Oil Leak After Facing Setback
  • May 26, 2010
    * House Energy and Commerce Committee Send Letter to Google About Gathering Data Sent over Private Wi-Fi networks

    News release: "Today, Chairman Henry A. Waxman, Subcommittee Chairman Ed Markey, and Ranking Member Joe Barton sent a letter to Eric Schmidt, Chairman & CEO of Google, regarding recent reports of data collection over private Wi-Fi networks in conjunction with Google's Street View product. The Committee is concerned about the accuracy and completeness of Google's public explanations and request information regarding the nature and use of the private data collected, the underlying technology of the Street View vehicle fleet, and the impact on consumer privacy."

    * FTC Submits Statement to Congress on Deceptive Marketing of Dietary Supplements

    News release: "The Federal Trade Commission submitted a statement today to the U.S. Senate describing the agency’s work to protect consumers from false or misleading claims about dietary supplements. This work includes law enforcement actions, coordination with the Food and Drug Administration, and consumer education. Submitted to the U.S. Senate Special Committee on Aging, the statement noted that the U.S. dietary supplement industry had $25 billion in sales last year, a 6 percent increase over the previous year. “[M]arket analysts suggest that the downturn in the economy has actually led to increased spending on supplements as consumers attempt to manage their own healthcare and avoid expensive doctor visits and prescription medications. Given this trend, it is more critical than ever that the Commission work to ensure that consumers are getting truthful and accurate information, backed by solid scientific evidence, about dietary supplements.”

  • Related postings on financial system
  • May 25, 2010
    * Energy Committee Committee Releases Details of BP's Internal Incident Investigation

    Follow up to postings on the Gulf Coast oil spill, this news release: "Today House Energy and Commerce Chairmen Henry A. Waxman and Bart Stupak sent a memo to Committee members summarizing the information presented by BP to Committee staff on the progress of its internal investigation of the causes of the blowout and oil spill. The information from BP identifies several new warning signs of problems. According to BP there were three flow indicators from the well before the explosion. One was 51 minutes before the explosion when more fluid began flowing out of the well than was being pumped in. Another flow indicator was 41 minutes before the explosion when the pump was shut down for a “sheen” test, yet the well continued to flow instead of stopping and drill pipe pressure also unexpectedly increased. Then, 18 minutes before the explosion, abnormal pressures and mud returns were observed and the pump was abruptly shut down. The data suggests that the crew may have attempted mechanical interventions at that point to control the pressure, but soon after, the flow out and pressure increased dramatically and the explosion took place. Further, BP’s preliminary findings indicate that there were other events in the 24 hours before the explosion that require further inquiry."

  • WSJ.com: U.S. to Toughen Drill Rules Obama to Unveil Steps Thursday as Criticism Rises Against Handling of Oil Spill
  • May 24, 2010
    * CBO: The Budgetary Impact and Subsidy Costs of the Federal Reserve's Actions During the Financial Crisis

    The Budgetary Impact and Subsidy Costs of the Federal Reserve’s Actions During the Financial Crisis, May 2010

  • "This Congressional Budget Office (CBO) study — prepared at the request of the Ranking Member of the Senate Budget Committee — describes the various actions by the Federal Reserve to stabilize the financial markets and how those actions are likely to affect the federal budget in coming years. The report also presents estimates of the risk-adjusted (or fair-value) subsidies that the Federal Reserve provided to financial institutions through its emergency
    programs. Unlike the cash treatment of the Federal Reserve in the budget, fair-value subsidies include the cost of the risk that the central bank has assumed. Thus, those subsidies are a more comprehensive measure of the cost of the central bank’s actions."
  • Related postings on financial system
  • * CCH Briefing: Senate Passes Sweeping Financial Reform Bill

    Senate Passes Sweeping Financial Reform Bill, May 2010: "On May 20, 2010, the U.S. Senate passed legislation to restructure the
    financial services regulatory system by a vote of 59 to 39. As discussed in this briefing paper, the Restoring American Financial Stability Act of 2010 (S 3217, the Senate version of H.R. 4173) would institute far-reaching reforms, including the creation of an independent Consumer Financial Protection Bureau housed within the Federal Reserve Board and new federal government power to wind down large, failing financial institutions. The bill would establish a nine-member Financial Services Oversight Council to oversee systemic risk, strengthen regulation of financial holding companies and abolish the Office of Thrift Supervision, transferring its functions to the Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp."

    May 20, 2010
    * FTC Budget Testimony Highlights Efforts to Protect Consumers, Promote Competition During Economic Downturn

    News release: "In testimony before the U.S. Senate Subcommittee on Financial Services and General Government of the Committee on Appropriations, the Federal Trade Commission today described the agency’s continuing work to promote competition and protect American consumers, including initiatives to stop fraud targeting financially distressed consumers, protect privacy, and prevent anticompetitive practices such as “pay-for-delay” in the pharmaceutical industry, which costs consumers $3.5 billion a year in higher drug costs. FTC Chairman Jon Leibowitz summarized the FTC’s FY 2011 budget request, noting that strong support from Congress has made the agency more effective in its consumer protection efforts. The testimony stated that, in the past year, the FTC has brought almost 40 law enforcement actions to stop scams that prey on consumers suffering from the financial downturn, and the agency is also engaged in rulemaking and consumer education efforts related to financial services. In the financial services area alone, the FTC has filed more than 100 actions over the past five years, and obtained nearly $500 million in redress for consumers in the past 10 years."

  • Related postings on financial system
  • * Live feed of BP oil spill available via House Committee on Energy Independence and Global Warming

    Follow up to postings on the Gulf Coast oil spill, this news release: "Following a demand from Rep. Edward J. Markey (D-Mass.) for a live feed of the BP oil spill to be made publicly available on the web, BP said they would release the feed and it will be shown on Rep. Markey’s committee website at www.globalwarming.house.gov. [Note: traffic volume has made access intermittent.] “This may be BP’s footage, but it’s America’s ocean. Now anyone will be able to see the real-time effects the BP spill is having on our ocean,” said Rep. Markey, who conducted a briefing today with independent scientists where he reiterated the call for a video feed. “This footage will aid analysis by independent scientists blocked by BP from coming to see the spill.” Markey sent letters earlier [May 19, 2010] to BP America’s CEO Lamar McKay asking for the footage to be made public on BP’s website. If BP could not host the footage, Rep. Markey offered to host it on his website free of charge. “BP is going to have to pay for the cleanup of this spill and the long-term damage. Hosting this video on our website is the only freebie they’re going to get,” Rep. Markey said."

    May 19, 2010
    * House Oversight and Government Reform Committee Report - The SEC: Designed for Failure

    Project of Government Oversight "As the Senate continues debating legislation to reform the financial regulatory system, House Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) has issued a new report examining a wide range of regulatory and management failures at the Securities and Exchange Commission (SEC), and offering recommendations for reform that are currently lacking in the Senate’s bill. The SEC has come under intense criticism of late, especially with the release of reports by the Office of Inspector General (OIG) finding that the Commission failed to act on overwhelming evidence of the massive Ponzi schemes orchestrated by Bernie Madoff and R. Allen Stanford. Rep. Issa’s report connects these and other recent scandals to a host of systemic problems that are hindering the SEC’s regulatory effectiveness."

  • The SEC: Designed for Failure - Minority Staff Report - U.S. House of Representatives, 111th Congress, Committee on Oversight and Government Reform, May 18, 2010
  • May 18, 2010
    * An Investigation into Bisphenol A in Canned Foods

    Follow up to previous postings on Bisphenol A , this News release: "Senator Dianne Feinstein stood with environmental health advocates today on Capitol Hill to release a new report that demonstrates alarming levels of bisphenol A (BPA) in common canned foods. BPA is a synthetic sex hormone and exposure to low doses has been linked to abnormal behavior, diabetes and heart disease, infertility, developmental and reproductive harm, and obesity, which raises the risk of early puberty, a known risk factor for breast cancer. Senator Feinstein has introduced legislation that would ban BPA in cans, in addition to other food and beverage containers. The Senator is hopeful that the Food Safety Act will include language that protects consumers from BPA exposure. “We found in our analysis that if someone is eating just one meal with at least one canned food product, their levels of BPA are as much as those that have been shown to cause health effects in laboratory animal studies,” says Bobbi Chase Wilding of Clean New York, co-author, of No Silver Lining, An Investigation Into Bisphenol A in Canned Foods, by The National Workgroup for Safe Markets, a coalition of U.S. public health- and environmental health-focused organizations. “Six states have taken crucial first steps this year to get this hormone mimicking chemical out of our children’s food, but this report shows that there is much more to be done. Senator Feinstein’s bill will protect much more of our food from this toxic contamination,” said U.S. Public Interest Research Group Public Health Advocate Elizabeth Hitchcock..."Eating common canned foods is exposing consumers to levels of bisphenol A (BPA) equal to levels shown to cause health problems in laboratory animals, according to a new study released today by The National Work Group for Safe Markets, a coalition of public health and environmental health groups. The study, No Silver Lining, tested food from 50 cans from 19 US states and one Canadian province for BPA contamination. Over 90% of the cans tested had detectable levels of BPA, some at higher levels than have been detected in previous studies. The canned foods tested were brand name fish, fruits, vegetables, beans, soups, tomato products, sodas, and milks, which together represent “real-life” meal options for a wide range of North American consumers. The cans were purchased from retail stores and were chosen from report participants’ pantry shelves, and sent to an independent laboratory for testing. One can of DelMonte green beans had the highest levels of BPA ever found in canned food, at 1,140 parts per billion."

    May 16, 2010
    * American Library Association releases 2009 Legislative Scorecards

    "The American Library Association (ALA) Washington Office has released the association’s 2009 Legislative Scorecards for the U.S. Senate and the U.S. House of Representatives. The Legislative Scorecards outline votes and support of legislation that is important to and has an impact on the library community. The ALA provides the scorecard as a tool to ALA members for gauging their elected official’s support of library related legislation. The 2009 scorecards are available here."

    May 14, 2010
    * Financial Stability Oversight Board Issues Report on the Emergency Economic Stabilization Act

    News release: "The Financial Stability Oversight Board (Oversight Board on May 13, 2010) issued its latest quarterly report to Congress on the Emergency Economic Stabilization Act (EESA), covering the period from January 1 to March 31. The report highlights the activities of the Oversight Board during the first quarter. It also presents the Oversight Board's evaluation of the effects thus far of the policies and programs implemented by Treasury under the Troubled Asset Relief Program (TARP). In addition, the report describes the programs, policies, administrative actions, and financial commitments of the Treasury Department under the TARP during the last quarter. In the report, the Oversight Board indicates its belief that the accumulated effects of Treasury’s actions under TARP contributed significantly to continuing recovery in many financial markets during the first quarter, although credit volumes continued to exhibit weakness both for nonfinancial businesses and households. Further, the Oversight Board says the actions taken by Treasury under TARP, together with those taken by the Federal Reserve, the Department of Housing and Urban Development, and the Federal Housing Finance Agency, continued to aid the housing market and mortgage borrowers during the quarter. Still, housing market conditions remained difficult."

  • Financial Stability Oversight Board Quarterly Report to Congress For the quarter ending March 31, 2010, Submitted pursuant to section 104(g) of the Emergency Economic Stabilization Act of 2008
  • Related postings on financial system
  • May 13, 2010
    * The New START Treaty Sent to the Senate

    News release: "Today the President submitted the New Strategic Arms Reduction Treaty (New START) – an arms control agreement with Russia that he signed last month in Prague -- to the United States Senate. Before the Treaty can be ratified, the Senate must provide its advice and consent by a two-thirds majority...In addition to the Treaty, the President also sent a report to Congress required by last year’s National Defense Authorization Act on our plan to modernize our nuclear weapons complex and the strategic systems used to deliver nuclear weapons (long-range missiles and bombers) over the next decade. This plan will include a projection for the funds needed over the next ten years to meet these modernization requirements. The report is largely classified, but because of the public’s interest in the issue, we are releasing an unclassified summary that highlights how we plan to reduce our forces but maintain a nuclear triad (land- and sea-based ballistic missiles and long-range bombers) under the Treaty. The U.S. military strongly favors the Treaty in large part because it allows the United States significant flexibility in how we structure and deploy our nuclear forces – including retaining this triad – to meet nuclear deterrence requirements."

    May 12, 2010
    * Hearing on "Inquiry into the Deepwater Horizon Gulf Coast Oil Spill"

    Follow up to postings on the Gulf Coast oil spill, Hearing on "Inquiry into the Deepwater Horizon Gulf Coast Oil Spill", Subcommittee on Oversight and Investigations 12 May 2010, to "examine what caused the explosion on the Deepwater Horizon drilling rig and the oil spill now spreading across the Gulf, in order to help prevent future incidents and inform the direction of our national energy policy." Link to all the documents, with selected references as follows:

    * New CBO Reports: Patient Protection and Affordable Care Act
    May 09, 2010
    * Senate Unanimously Passes Faster FOIA Act

    EPIC: "The Senate unanimously passed the Faster FOIA Act of 2010, introduced by Senators Patrick Leahy (D-VT) and John Cornyn (R-TX), that will establish a 16-member commission to determine methods for reducing delays in processing FOIA requests. Government reports reveal substantial delays in disclosing records subject to the open government law. The legislation seeks to improve the processing of FOIA requests. EPIC frequently uses the FOIA to obtain information about government programs that impact privacy rights."

    May 05, 2010
    * Homeland Security Committee Hearing Examines Ban on Gun Sales to Suspected Terrorists

    News release: "Two days after the failed Times Square terrorist was arrested, Homeland Security and Governmental Affairs Committee Chairman Joe Lieberman, ID-Conn., and Ranking Member Susan Collins, R-Me., Wednesday heard top New York City officials advocate for barring terrorist suspects from purchasing firearms. At an oversight hearing, Mayor Michael Bloomberg and Police Commissioner Ray Kelly told the Committee that the sale of guns to anyone on a terrorist watchlist should be banned."

  • Terrorists and Guns: The Nature of the Threat and Proposed Reforms, May 5, 2010 - with links to Member Statements and Witness Testimony
    • Michael R. Bloomberg, Mayor, City of New York: "A key element of any smart counter-terrorism strategy is to make it harder for terrorists to strike. That’s why air passengers walk through metal detectors. That’s why our police officers randomly check bags in the subway. That’s why our police officers patrol sensitive locations. And that’s why it’s just common sense to give the FBI the authority to keep terror suspects from buying guns and explosives."
    • Terrorist Watchlist Screening: FBI Has Enhanced Its Use of Information from Firearm and Explosives Background Checks to Support Counterterrorism Efforts, GAO-10-703T, May 5, 2010: "Membership in a terrorist organization does not prohibit a person from possessing firearms or explosives under current federal law. However, for homeland security and other purposes, the FBI is notified when a firearm or explosives background check involves an individual on the terrorist watchlist. This statement addresses (1) how many checks have resulted in matches with the terrorist watchlist, (2) how the FBI uses information from these checks for counterterrorism purposes, and (3) pending legislation that would give the Attorney General authority to deny certain checks."
  • May 03, 2010
    * U.S. Courts: More States Report Wiretap Activity

    News release: "A total of 2,376 federal and state applications for orders authorizing the interception of wire, oral or electronic communications, known as wiretaps, was reported in 2009. The number of applications for orders by federal authorities was 663; the number of applications reported by state prosecuting officials was 1,713. No applications were denied. The Omnibus Crime Control and Safe Streets Act of 1968 requires the Administrative Office of the U.S. Courts to report to Congress the number and nature of federal and state applications for wiretap orders. The 2009 Wiretap Report covers intercepts concluded between January 1, 2009 and December 31, 2009."

    April 27, 2010
    * Opening Statement of Senator Carl Levin, U.S. Senate Permanent Subcommittee on Investigations Hearing, Wall Street and the Financial Crisis: The Role of Investment Banks

    News release: "Today the Subcommittee holds the fourth in our series of hearings to explore some of the causes and consequences of the financial crisis. These hearings are the culmination of nearly a year and a half of investigation. The freezing of financial markets and collapse of financial institutions that sparked our investigation are not just a matter of numbers on a balance sheet. Millions of Americans have lost their jobs, their homes and their businesses in the recession that the crisis sparked, the worst economic decline since the Great Depression. Behind every number we cite are American families who are still suffering the effects of a man-made economic catastrophe. Our Subcommittee’s goal is to construct a record of the facts in order to deepen public understanding of what went wrong; to inform the ongoing legislative debate about the need for financial reform; and to provide a foundation for building better defenses to protect Main Street from the excesses of Wall Street."

  • Link to Permanent Subcommittee on Investigations hearing page with list of witnesses, links to witness testimony and Exhibits [This is a large file, 901 pages/PDF, and may take some time to download depending on your connection speed].
  • Related postings on financial system
  • April 26, 2010
    * Office of the Clerk beta launched HouseLive.gov - a streaming video feed of the House Floor

    The Gavel Blog: "Today, the Office of the Clerk beta launched HouseLive.gov — a streaming video feed of the House Floor. The site also hosts searchable and downloadable video archives going back to the start of the 111th Congress (January 6, 2009) and has a highlighted archive for events like the State of the Union and Chancellor Angela Merkel’s address to Congress last year."

    April 25, 2010
    * Hearing: The Washington Metro System: Safety, Service and Stability

    "On Wednesday, April 21, 2010 the House Committee on Oversight and Government Reform held a hearing entitled The Washington Metro System: Safety, Service and Stability, to examine the challenges facing the Washington Metropolitan Area Transit Authority (WMATA) as it transitions under new leadership. The Committee addressed WMATA’s efforts to improve safety and service in the wake of a spate of accidents that have occurred within the Metro system over the past year; the short and long-term solutions for addressing the budget shortfall currently confronting WMATA; and the process for selecting a permanent General Manager for WMATA and establishing effective long term leadership."

  • Opening Statement of Chairman Edolphus Towns: "The Washington Metropolitan Transit Authority (“WMATA”) operates the second largest rail transit system in the country, second only to the New York subway system. WMATA also runs the fifth largest bus system. For a long time now, it has been a clean, reliable, and safe system. But there are indications that the system is deteriorating. On June 22, 2009, a Metrorail train slammed into another train near the Fort Totten station. Nine people were killed and 80 were injured. It was the worst accident in Metro’s history. In January of this year, two maintenance workers were killed as they worked on the tracks. In total, 15 people have lost their lives on the Metrorail system over the past year. Something clearly is wrong."
  • April 24, 2010
    * Senate Subcommittee Investigating Financial Crisis Releases Documents on Role of Investment Banks

    News release: "The Senate Permanent Subcommittee on Investigations released several exhibits that will be among those discussed on Tuesday at the fourth of its hearings on the causes and consequences of the financial crisis. The exhibits are available at this link. Using Goldman Sachs as a case study, the April 27 hearing will focus on the role of investment banks in contributing to the worst U.S. economic crisis since the 1930s, resulting in the foreclosure of millions of homes, the shuttering of businesses, and the loss of millions of American jobs. The Subcommittee, whose Chairman is Sen. Carl Levin, D-Mich., and whose Ranking Republican is Sen. Tom Coburn, R-Okla., has conducted a nearly year and a half investigation into the 2008 financial crisis."

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  • April 20, 2010
    * Report: Retired Military Leaders Want Junk Food Out of America’s Schools

    Follow up to previous postings on childhood and adolescent obesity, this new report: Too Fat to Fight - Retired Military Leaders Want Junk Food Out of America’s Schools. A report by Mission: Readiness, Military Leaders for Kids, April 2010.

  • "Mission: Readiness, an organization of retired senior military leaders, is warning Congress that at least nine million 17- to 24-year-olds in the United States are too fat to serve in the military. That is 27 percent of all young adults. Obesity rates among children and young adults have increased so dramatically that they threaten not only the overall health of America but also the future strength of our military. The group is calling on Congress to take immediate steps to remove junk food and any remaining high-calorie beverages from our schools, noting that these products are major contributors to childhood obesity. The report cites a new analysis of data from the Centers for Disease Control and Prevention (CDC) showing an alarming increase in obesity rates among young adults across the country. During the past decade, the number of states with 40 percent of young adults considered by the CDC to be overweight or obese has risen from one state to 39. In three states – Kentucky, Alabama and Mississippi – more than half of young adults are overweight."
  • April 19, 2010
    * Joint Economic Committee Releases Monthly Economic Snapshots of States

    News release: "Today the Joint Economic Committee (JEC) released its monthly state-by-state report Understanding the Economy: State-by-State Snapshots, featuring key economic indicators for each of the 50 states and the District of Columbia. The report has been updated to include state data released April 16 by the Bureau of Labor Statistics (BLS) and is the fourth installment of JEC’s State-by-State Economic Snapshots series. The first report was released in January 2010. The updated reports show that in many states, the economy is growing, especially in the area of private-sector employment. In March, twenty-seven states and the District of Columbia saw increases in private sector employment, eleven states saw increases in February and March, and seven states experienced increases in private sector employment in all three months in the first quarter of 2010."

    * Testimony by Chairman Bernanke on lessons from the failure of Lehman Brothers

    Chairman Ben S. Bernanke - Lessons from the failure of Lehman Brothers Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C., April 20, 2010: "The Federal Reserve fully understood that the failure of Lehman would shake the financial system and the economy. However, the only tool available to the Federal Reserve to address the situation was its ability to provide short-term liquidity against adequate collateral; and, as I noted, Lehman already had access to our emergency credit facilities. It was clear, though, that Lehman needed both substantial capital and an open-ended guarantee of its obligations to open for business on Monday, September 15. At that time, neither the Federal Reserve nor any other agency had the authority to provide capital or an unsecured guarantee, and thus no means of preventing Lehman's failure existed."

    April 18, 2010
    * Pew Report: Distrust, Discontent, Anger and Partisan Rancor The People and Their Government

    Distrust, Discontent, Anger and Partisan Rancor The People and Their Government, April 18, 2010

  • "By almost every conceivable measure Americans are less positive and more critical of government these days. A new Pew Research Center survey finds a perfect storm of conditions associated with distrust of government – a dismal economy, an unhappy public, bitter partisan-based backlash, and epic discontent with Congress and elected officials. Rather than an activist government to deal with the nation’s top problems, the public now wants government reformed and growing numbers want its power curtailed. With the exception of greater regulation of major financial institutions, there is less of an appetite for government solutions to the nation’s problems – including more government control over the economy – than there was when Barack Obama first took office."
  • Detailed Tables
  • Topline Questionnaire
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  • April 15, 2010
    * Bank of America President Testifies on Troubled Mortgages

    Business Journal: "Barbara Desoer, president of Bank of America Home Loans, testified on Capitol Hill Tuesday about the housing crisis and the steps BofA is taking to modify troubled mortgages. And she painted a bleak picture, according to her prepared testimony. Some numbers [from her remarks at the House Committee on Financial Services Committee hearing, Second Liens and Other Barriers to Principal Reduction as an Effective Foreclosure Mitigation Program]:

    • 1.4 million borrowers, or 10 percent of the entire BofA residential mortgage portfolio, are more than 60 days delinquent.
    • More than 16,000 BofA employees are dedicated to helping troubled borrowers work out a solution.
    • BofA has taken $10.4 billion in write-downs tied to mortgages over the past two years."
    • Related postings on financial system

    April 14, 2010
    * Council of Economic Advisers Releases a New Report on the Recovery Act

    News release: "As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009 (ARRA), the Council of Economic Advisers (CEA) was charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular. Today we released our third report, with an assessment of the effects of the Act through the first quarter of 2010."

  • The Economic Impact of the American Recovery and Reinvestment Act of 2009 Third Quarterly Report, April 14, 2010
  • * House passes resolution honoring National Library Week

    H. Res. 1222 supporting the goals and ideals of National Library Week: April 13, 2010 Congressional Record - House H2465

  • "H. RES. 1222 Whereas the Nation’s school, academic, public, and special libraries make a difference in the lives of millions of people in the United States, today, more than ever; Whereas librarians are trained professionals, helping people of all ages and backgrounds backgrounds find and interpret the information they need to live, learn, and work in a challenging economy; Whereas libraries are part of the American Dream, places for opportunity, education,
    self-help, and lifelong learning; Whereas according to a December 2008 National Center for Education Statistics (NCES) report, public library use increased to 1,400,000,000 visits nationwide during fiscal year 2006, among all types of library users, continuing a long term trend of increased library usage; Whereas libraries play a vital role in supporting the quality of life in their communities;
    Whereas libraries help people of all ages discover a world of knowledge, both in person and online, as well as provide personal service and assistance in finding needed information; Whereas libraries are a key player in the national discourse on intellectual freedom and equity of access; Whereas libraries are narrowing the "digital divide’", by providing no-fee public computer and Internet access to accommodate the growing need for access to digital and online information, including e-government, continuing education, and employment opportunities; Whereas in 71 percent of communities, libraries have the only no-fee public computers; and Whereas libraries, librarians, library workers, and supporters across the United States will celebrate National Library Week, April 11–17, 2010..."
  • April 12, 2010
    * Federal Reserve Bank of Atlanta: Too Big to Fail after FDICIA

    Too Big to Fail after FDICIA, Larry D. Wall, Economic Review, Vol. 95, No. 1, 2010

  • "In 1993, when this article was originally published, Congress had recently passed the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to reduce taxpayers' exposure to financial system losses, including their exposure at "too big to fail" financial institutions. In his new preface, the author observes that, by passing FDICIA, Congress was signaling that it was "serious about ending 100 percent de facto deposit insurance." He notes that FDICIA's least-cost resolution provisions were partially successful, terminating 100 percent de facto deposit insurance for most banks. The recent financial crisis demonstrated, though, that too big to fail has still not been eliminated for the very largest banks. To provide a background for the debate about what should be done to eliminate the persistent problems with existing too big to fail policies, this article outlines what Congress originally intended FDICIA to accomplish. From its 1993 perspective, the article reviews the controls FDICIA placed on regulators' ability to protect or extend the lives of large banks while keeping other policy tools for dealing with systemic risk. The article also discusses some lingering systemic risk issues, including the effect of a large bank's failure on financial derivatives markets and the effect of unexpected massive losses at one or more banks, as well as FDICIA's provisions designed to reduce systemic risk."
  • Related postings on financial system
  • April 11, 2010
    * Holocaust Days of Remembrance, April 11–18, 2010

    "The United States Congress established the Days of Remembrance as our nation’s annual commemoration of the Holocaust and created the United States Holocaust Memorial Museum as a permanent living memorial to the victims. This year Holocaust Remembrance Day is Sunday, April 11. The Museum designated Stories of Freedom: What You Do Matters as the theme for the 2010 observance. In accordance with its Congressional mandate, the Museum is responsible for leading the nation in commemorating the Days of Remembrance, and for encouraging and sponsoring appropriate observances throughout the United States. Observances and remembrance activities can occur during the week of Remembrance that runs from the Sunday before Holocaust Remembrance Day (Yom Hashoah) through the following Sunday (view the Remembrance Day Calendar). Days of Remembrance are observed by state and local governments, military bases, workplaces, schools, churches, synagogues, and civic centers."

    April 07, 2010
    * Preliminary Staff Report: The Community Reinvestment Act and the Mortgage Crisis - Financial Crisis Inquiry Commission

    Preliminary Staff Report: The Community Reinvestment Act and the Mortgage Crisis - Financial Crisis Inquiry Commission (FCIC)| April 7, 2010: "The purpose of this preliminary staff report is to provide background on the Community Reinvestment Act (CRA). Section I provides background on the CRA. Section II discusses the evidence on CRA’s contribution to an increase in the number of risky mortgages originated."

  • Related postings on Financial Crisis Inquiry Commission
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  • * Preliminary Staff Report: The Mortgage Crisis - Financial Crisis Inquiry Commission

    Preliminary Staff Report: The Mortgage Crisis - Financial Crisis Inquiry Commission (FCIC)| April 7, 2010: "The purpose of this preliminary staff report is to describe the recent mortgage crisis, which entailed a dramatic drop in home prices beginning in 2006 and a sharp rise in mortgage defaults beginning in 2007. Section I describes the origination of mortgages over the two decades leading up to the crisis. Section II documents some evidence on the expansion in subprime and alt-A lending in the 2000s. Section III describes the increase in home ownership over this period. Section IV describes the unprecedented run-up in home prices from 1998 to 2006 and their subsequent steep decline. Section V describes the increase in mortgage defaults from 2007 to 2009. Section VI briefly discusses evidence on the reasons for this increase in mortgage defaults."

  • Related postings on Financial Crisis Inquiry Commission
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  • * Preliminary Staff Report: Government Sponsored Enterprises and the Financial Crisis - Financial Crisis Inquiry Commission

    Preliminary Staff Report: Government Sponsored Enterprises and the Financial Crisis Financial - Crisis Inquiry Commission (FCIC) | April 7, 2010: "This preliminary staff report provides information on the Federal National Mortgage Association (FNMA or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), the companies' attributes as government-sponsored enterprises (GSEs), and their linkages to the larger financial system. As losses at the two companies mounted, the government placed Fannie Mae and Freddie Mac into conservatorship on September 6, 2008. At that point the two GSEs together held in portfolio or guaranteed through mortgage-backed securities (MBS) some $5.2 trillion of mortgages,1 or over 40 percent of the $12 trillion residential mortgage market."

  • Related postings on Financial Crisis Inquiry Commission
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  • * Preliminary Staff Report: The Role of the Federal Reserve in Banking Supervision and Regulation - Financial Crisis Inquiry Commission

    Preliminary Staff Report: The Role of the Federal Reserve in Banking Supervision and Regulation, Financial Crisis Inquiry Commission (FCIC) | April 7, 2010: "The purpose of this preliminary staff report is to provide a brief overview of the role of the
    Federal Reserve in banking supervision and regulation. The first section describes the structure of the Federal Reserve and the extent of the Federal Reserve’s supervisory role as it stood at the beginning of the financial crisis. Section II describes the history of banking supervision and regulation in the United States, with a focus on the deregulatory environment that prevailed in the 1990s and early 2000s. Section III describes the Federal Reserve’s approach to systemic risk in the recent period. Section IV discusses Federal Reserve supervision of mortgage lending activity."

  • Related postings on Financial Crisis Inquiry Commission
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  • * Preliminary Staff Report: Securitization and the Mortgage Crisis - Financial Crisis Inquiry Commission

    Preliminary Staff Report: Securitization and the Mortgage Crisis, Financial Crisis Inquiry Commission (FCIC) | April 7, 2010

  • "The purpose of this preliminary staff report is to provide an overview of mortgage securitization and its possible role in the sharp increase in mortgage defaults that precipitated the financial crisis. Section I describes the growth and basic mechanics of the
    mortgage securitization system. Section II discusses the way in which securitization could have contributed to the recent increase in mortgage defaults and foreclosures. Those researching the financial crisis disagree on the extent to which securitization resulted in an increase in defaults, and empirical research on this issue is ongoing."
  • Related postings on Financial Crisis Inquiry Commission
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  • * Hearings & Testimony - Subprime Lending and Securitization and Government-Sponsored Enterprises (GSEs)

    Financial Crisis Inquiry Commission - Hearings & Testimony - Subprime Lending and Securitization and Government-Sponsored Enterprises (GSEs), April 7, 2010

  • Related postings on Financial Crisis Inquiry Commission
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  • April 05, 2010
    * FTC Issues 2010 Fair Debt Collection Practices Report to Congress

    Federal Trade Commission Enforcement of the Fair Debt Collection Practices Act: The Thirty-Second Annual Report to Congress: Commission Initiatives During 2009 To Curtail Illegal Debt Collection Practices, Including Summaries of the Types of Consumer Complaints Received, Recent Developments in Commission Law Enforcement, and Commission Consumer and Industry Education and Policy Initiatives (March 2010).

    April 04, 2010
    * CRS: Deforestation and Climate Change

    Deforestation and Climate Change, Ross W. Gorte, Specialist in Natural Resources Policy, Pervaze A. Sheikh, Specialist in Natural Resources Policy - March 24, 2010

  • "Efforts to mitigate climate change have focused on reducing carbon dioxide (CO2) emissions into the atmosphere. Some of these efforts center on reducing CO2 emissions from deforestation, since deforestation releases about 17% of all annual anthropogenic greenhouse gas (GHG) emissions and is seen as a relatively low-cost target for emissions reduction. Policies aimed at reducing deforestation are central points of a strategy to decrease carbon emissions, reflected in pending legislation in Congress (e.g., H.R. 2454 and S. 1733) as well as in international discussions, such as the December 2009 negotiations in Copenhagen. Forests exist at many latitudes. Many are concerned about the possible impacts of losing boreal and temperate forests, but existing data show little, if any, net deforestation, and their loss has relatively modest carbon consequences. In contrast, tropical deforestation is substantial and continuing, and releases large amounts of CO2, because of the carbon stored in the vegetation and released when tropical forests are cut down. There are many causes of tropical deforestation—commercial logging, large-scale agriculture (e.g., cattle ranching, soybean production, oil palm plantations), small-scale permanent or shifting (slash-and-burn) agriculture, fuelwood removal, and more. Often, these causes combine to exacerbate deforestation; for example, commercial logging often includes road construction, which in turn opens the forest for subsistence farmers. At times, tropical deforestation results from weak land tenure and/or weak or corrupt governance to protect the forests."
    • See also The Economist: "Dealing with climate change might mean tinkering with the oceans and the atmosphere. Those who could do so would like the regulations to be clear."
    • Related postings on climate change
  • * House Report: ACORN Political Machine Tries to Reinvent Itself

    News release: "House Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) released a report examining the rebranding of 13 ACORN affiliated organizations following reports that ACORN had disbanded. The report includes evidence of a recent business transaction between ACORN and the organization rebranded as Alliance of Californians for Community Empowerment (ACCE) which details how membership lists, computer equipment, employees and other assets will be transferred from ACORN to the new organization."

  • ACORN Political Machine Tries to Reinvent Itself Staff Report, U.S. House of Representatives, 111th Congress, Committee on Oversight and Government Reform, April 1, 2010
  • April 01, 2010
    * EPIC: TSA Concedes Body Scanners Store and Record Images

    Follow up to previous postings on government implementation of whole body scanning technology at airports, via EPIC: "In response to a Congressional inquiry, led by Congressman Bennie Thompson, the Transportation Security Agency acknowledged that images on body scanner machines would be recorded for "testing, training, and evaluation purposes." The TSA also did not dispute that test mode could be activated in airports, but said this "would" not happen. As part of an ongoing lawsuit, EPIC had previously obtained TSA documents describing the machines' capabilities to store and transmit detailed images of travelers' naked bodies."

  • Homeland Security Blog: "TSA's deployment of new screening technology known as AIT. Public discussion and debate is good, and we at TSA have worked hard to inform, educate and adjust our screening protocols in the interests of security, efficiency, safety and privacy. Our FY 2011 budget request includes $573 million to purchase 500 Advanced Imaging Technology (AIT) units and to operationally staff, operate and maintain 1,000 units, which includes the 500 units we are deploying now. This is indeed an important investment decision and not something we take lightly. We don't take the threats we're facing lightly either."
  • * OnGuardOnline.gov Off to a Fast Start with Online Child Safety Campaign

    News release: "The Federal Trade Commission today reported to Congress that it is getting the word out about Internet safety for children by aggressively promoting a new booklet, Net Cetera: Chatting with Kids About Being Online, to schools, police and sheriff’s departments, and PTAs nationwide. Net Cetera explains to parents and their children how to deal with issues such as social networking, cyberbullying, using mobile phones safely, and protecting the family computer from badware. The booklet is practical, plain-language, and value-neutral, so all parents – regardless of whether they are technologically savvy – can use it to help their kids make better decisions about online behavior. It is the most recent addition to the OnGuardOnline.gov consumer education campaign, which helps people guard against Internet fraud, secure their computers, and protect their privacy."

    March 30, 2010
    * JEC Report: Understanding the Economy: Long-Term Unemployment in the African American Community

    Understanding the Economy: Long-Term Unemployment in the African American Community "is the first in a series of JEC reports examining the unemployment situation among several demographic groups, including African Americans, Hispanics, youth, and women. Prepared by the Joint Economic Committee’s Majority staff, the report draws from previously unpublished data from the Bureau of Labor Statistics, and found that though African Americans make up 11.5 percent of the labor force, they account for 17.8 percent of the unemployed, 20.3 percent of those unemployed for more than six months, and 22.1 percent of the workers unemployed for a year or more."

  • "Every day in the neighborhoods around my home, I see the signs that this recession has been particularly hard in my community,” said Congressman Elijah Cummings (MD-7), member of both the Joint Economic Committee and the Congressional Black Caucus. “This report puts into numbers what has been obvious, from the beginning. The so-called Great Recession has been absolutely crushing for the African American community. The work the JEC has done to highlight the incredibly high long-term unemployment rate among African American workers is very important, and it will be particularly useful to the Congressional Black Caucus as we continue the fight for policies that will address this issue that is so critical in our communities.”
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  • March 29, 2010
    * Bipartisan Transparency Caucus Launched

    News release: "[March 25, 2010] U.S. Rep. Mike Quigley (D-IL) and U.S. Rep. Darrell Issa (R-CA) announced the formation of the bipartisan Transparency Caucus which will serve as a resource for Members of Congress on bipartisan open government initiatives. The caucus will promote legislation that requires federal information to be freely accessible, as well as advocate for new initiatives that support transparency...With significant advances in technology, it is now possible for the Federal government to offer searchable, sortable, downloadable information online that citizens can access to see for themselves the results of government programs. The Caucus will seek to move current practices forward and encourage easier access for the American public through education, legislation, and oversight."