News release: " Nonfarm payroll employment continued to decline in June (-467,000), and the unemployment rate was little changed at 9.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction...The number of unemployed persons (14.7 million) and the unemployment rate (9.5 percent) were little changed in June. Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.2 million, and the unemployment rate has risen by 4.6 percentage points."
USDA Economic Research Service: Food Security Assessment, 2008-09 - By Shahla Shapouri, Stacey Rosen, Birgit Meade, and Fred Gale, Outlook Report No. (GFA-20) 58 pp, June 2009
News release: "The Securities and Exchange Commission voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence. The Commission proposed requiring public companies receiving money from the Troubled Asset Relief Program (TARP) to provide a shareholder vote on executive pay in their proxy solicitations The Commission also voted to propose better disclosure of executive compensation at public companies in their proxy statements, and approved a New York Stock Exchange rule change to prohibit brokers from voting proxies in corporate elections without instructions from their customers."
News release: "The Federal Trade Commission today announced final rules and guidelines that will promote the accuracy and integrity of information provided to credit reporting agencies (commonly called “credit bureaus”) and allow consumers to dispute inaccurate information about them directly with furnishers, the financial institutions and other entities that furnish the information to the credit reporting agencies. Information in credit reports is used widely to determine a consumer’s eligibility for credit, employment, insurance and rental housing, and errors in a consumer’s report can result in denial of those benefits or higher costs.
The FTC is issuing these rules and guidelines with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (the Agencies) under section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), which amends the Fair Credit Reporting Act. The effective date for these final rules and guidelines is July 1, 2010."
News release: "The Federal Trade Commission today announced a law enforcement crackdown on scammers trying to take advantage of the economic downturn to bilk vulnerable consumers through a variety of schemes, such as promising non-existent jobs; promoting overhyped get-rich-quick plans, bogus government grants, and phony debt-reduction services; or putting unauthorized charges on consumers’ credit or debit cards. Dubbed “Operation Short Change,” the law enforcement sweep announced today includes 15 FTC cases, 44 law enforcement actions by the Department of Justice, and actions by at least 13 states and the District of Columbia."
News release: "The Environmental Protection Agency today announced the next steps in a coordinated strategy to slash harmful emissions from ocean-going vessels. EPA is proposing a rule under the Clean Air Act that sets tough engine and fuel standards for U.S. flagged ships that would harmonize with international standards and lead to significant air quality improvements throughout the country."
News release: " As part of its ongoing efforts to protect human health and the environment, the U.S. Environmental Protection Agency has posted a list of 44 “high hazard potential” impoundments containing coal combustion residuals, commonly referred to as coal ash, at 26 different coal burning electric utility facilities. EPA is releasing this information after interagency coordination with FEMA’s Risk Analysis Division Mitigation Directorate and the U.S. Army Corps of Engineers. Designating these units reflects EPA’s commitment to assessing risks and vulnerabilities in order to protect critical infrastructure—and the American people—from disaster. A high hazard potential rating is not related to the stability of those impoundments but to the potential for harm should the impoundment fail."
"The Bureau of Transportation Statistics of the Research and Innovative Technology Administration released America's Container Ports: Freight Hubs That Connect Our Nation to Global Markets, an overview of the movement of maritime freight handled by the nation's container seaports in 2008 and trends in maritime freight movement since 1995. The report covers the impact of the recent U.S. and global economic downturn on U.S. port container traffic, trends in container throughput, concentration of containerized cargo at the top U.S. ports, regional shifts in cargo handled, vessel calls and capacity in ports, the rankings of U.S. ports among the world's top ports, and the number of maritime container entries into the United States relative to truck and rail containers."
News release: "The Bureau of Transportation Statistics of the Research and Innovative Technology Administration released Motorcycle Trends in the United States, a special report on the current and emerging trends involving street-legal motorcycles. The report covers the trends in vehicles, vehicle registrations, owner demographics, training and safety."
Best Practices for Government Libraries - 2009 - Change: Managing It, Surviving It, and Thriving On It - "The 2009 edition includes 60 articles and other submissions provided by more than 50 contributors from librarians in government agencies, courts, and the military, as well as from professional association leaders, LexisNexis Consultants, and more." Compiled by Marie Kaddell, LexisNexis.
News release: "The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on June 26, 2008. In general, section 109 prohibits a bank from establishing or acquiring a branch or branches outside of its home state primarily for the purpose of deposit production. Section 109 also prohibits branches of banks controlled by out-of-state bank holding companies from operating primarily for the purpose of deposit production."
The Peak Oil Debate, Laurel Graefe, Economic Review, Vol. 94, No. 2, 2009
Brookings: Governance Matters 2009: Learning From Over a Decade of the Worldwide Governance Indicators, Daniel Kaufmann, Aart Kraay and Massimo Mastruzzi, June 29, 2009.
The Worldwide Governance Indicators (WGI) project: "The six aggregate indicators and the underlying data sources can be viewed interactively on the Governance Indicators webpage of this site. To download the full dataset for all countries and indicators in Excel format, click here. Documentation of the latest update of the WGI can be found in Governance Matters VIII: Governance Indicators for 1996–2008. Further documentation and research using the WGI is available on the Resources page of this website or at www.worldbank.org/wbi/governance."
WSJ: "U.S. consumers are saving more of their incomes than any time since 1993 -- a major shift toward frugality that's expected to be one of the lasting effects of this deep and lengthy recession."
News release: "On June 29, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.
News release: "The United States added nearly 1 million nonemployer businesses between 2006 and 2007, bringing the total to 21.7 million, the U.S. Census Bureau announced today. This 4.5 percent growth rate is detailed in Nonemployer Statistics: 2007, an annual data series on businesses without paid employees."
"The Centers for Disease Control and Prevention (CDC) unveiled LEANWorks!, a Website designed to help businesses address obesity. LEAN stands for Leading Employees to Activity and Nutrition...The free Website was developed particularly for small and mid-size companies, which typically have more limited resources to devote to obesity prevention efforts. However, the tools and resources available on CDC LEANWorks! can benefit companies of any size. CDC LEANWorks! can help employers calculate the cost of obesity for their organizations and develop tailored approaches to help control these costs through interventions such as fitness classes, lunchtime health education sessions, weight management programs, and more."
CBO's Long-Term Model: An Overview, June 2009
Report to the Congress on the Profitability of Credit Card Operations of Depository Institutions Submitted to the Congress pursuant to section 8 of the Fair Credit and Charge Card Disclosure Act of 1988, June 2009: "Analyzes the profitability over time of depository institutions' credit card activities by examining the performance of larger institutions that specialize in such activities and of a sample of smaller commercial banks that offer a range of credit services. Also reviews trends in credit card pricing, including changes in interest rates."
The Troubled Asset Relief Program: Report on Transactions Through June 17, 2009 - June 2009
"The Federal Trade Commission today issued Authorized Generics: An Interim Report, which presents the first set of results from a study conducted to examine the short-term and long-term effects of “authorized generics” on competition in the prescription drug marketplace. An authorized generic exists when a pharmaceutical manufacturer sells a drug under both a brand-name and generic label. The FTC conducted the study in response to requests from Congress. Issues related to generic drug competition are relevant to current legislative debates and health care reform. The FTC Interim Report examines the short-term effects of authorized generics during an initial period of generic competition. In certain circumstances, the first generic competitor of a branded drug is awarded a 180-day period of marketing exclusivity under the Hatch-Waxman Act. This marketing exclusivity period granted to certain generic “first filers,” however, does not preclude competition from authorized generics. It has become increasingly common for brand-name drug makers to begin marketing authorized generics at the same time the generic firm is beginning its 180-day marketing exclusivity period, leading to questions about the effects of authorized generics on pharmaceutical competition."
Banque de France Press Release: 2008 annual report of the Commission bancaire - "In 2008 the financial turmoil resulting from the subprime crisis intensified, leading many credit institutions, in particular in the United States, to make substantial write-downs and impairments. Consequently, confidence in the financial system was hit to the extent that the interbank market seized up, especially after the failure of the US investment bank Lehman Brothers in September. Against this backdrop, governments and central banks in France and abroad took unprecedented measures to support credit institution’s short- and medium-term refinancing and raise their capital levels. These actions, which were highly co-ordinated at the European level, created the conditions for banking systems to gradually return to normal functioning."
News release: "Today, Chairman of the U.S. Senate Committee on Commerce, Science and Transportation John D. (Jay) Rockefeller IV (D-WV) announces the release of an investigative staff report, Underpayments to Consumers by the Health Insurance Industry.
News release: "The Federal Reserve on Thursday announced extensions of and modifications to a number of its liquidity programs. Conditions in financial markets have improved in recent months, but market functioning in many areas remains impaired and seems likely to be strained for some time. As a consequence, to promote financial stability and support the flow of credit to households and businesses, the Federal Reserve is extending a number of facilities through early 2010. At the same time, in light of the improvement in financial conditions and reduced usage of some facilities, the Federal Reserve is trimming the size and changing the terms of some facilities."
The Long-Term Budget Outlook, June 2009:
"The U.S. Environmental Protection Agency’s Environmental Justice Resource Guide, a handbook for community organizers and decision-makers, is now available from the EPA’s Pacific Southwest Environmental Justice Office....it provides information on funding sources and other resources that can help communities understand, prioritize, and address their specific environmental concerns...The Guide contains success stories achieved by communities disproportionately impacted by environmental burdens, such as the West Oakland Toxic Reduction Collaborative, which helped reduce port-related diesel pollutants, and the Torres Martinez Collaborative, which helped remove tons of refuse from tribal lands."
U.S. Department of Education, Office of Inspector General, Information Technology Audits Division - Incident Handling and Privacy Act Controls over External Web Sites, Final Audit Report, Redacted, ED-OIG/A11I0006, June 10, 2009.
News release: "The federal bank and thrift regulatory agencies today proposed revisions to regulations implementing the Community Reinvestment Act (CRA) to require the agencies to consider low-cost education loans provided to low-income borrowers when assessing a financial institution's record of meeting community credit needs. This proposal, which is being proposed jointly by the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, incorporates provisions of the recently enacted Higher Education Opportunity Act, which revised the CRA."
News release: "EPA has released the latest version of a state-of-the-science tool that estimates health risks from breathing air toxics in the United States. The National Air Toxics Assessment (NATA), based on 2002 air emissions data, helps federal, state, local and tribal governments identify areas and specific pollutants for further evaluation to better understand risks they may pose. Air toxics are of concern because they are known to or are suspected of causing cancer and other serious health problems, including birth defects. The report assessed 180 air toxics plus diesel particulate matter from stationary sources of all sizes and from mobile sources such as cars, trucks, buses and construction equipment."
"Corporate websites generally offer more innovative features than public-sector sites, largely because the private sector spends about a third more on websites, according to a Brookings Institution study, Comparing Technology Innovation in the Private and Public Sectors. The study, released in mid-June, compares the websites of leading U.S. corporations with state and national governments, grades their overall performance, and examines nearly two dozen features of digital innovation.
Using a 100-point scale, the study report concludes that corporations have the most innovative websites (65 points) and are trailed as a group by state government (54) and federal government (51). The top-rated site in the federal government category, USA.gov (92), equaled the score for the top-rated corporate site, WellsFargo.com. Other top-rated federal sites were USDA.gov, GSA.gov, USPS.com, IRS.gov, and ED.gov. Delaware.gov (83.7) was the top-rated state site, followed by the official websites of Georgia, Florida, California, Massachusetts and Maine. The report also revealed that public websites provide more security and are better at protecting privacy. Although federal government websites were the most accessible to users with disabilities, 75% percent of its websites were not completely accessible."
News release: "The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 15, 2009 through June 14, 2009. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance."
News release: "The world’s 65-and-older population is projected to triple by midcentury, from 516 million in 2009 to 1.53 billion in 2050, according to the U.S. Census Bureau. In contrast, the population under 15 is expected to increase by only 6 percent during the same period, from 1.83 billion to 1.93 billion. In the United States, the population 65 and older will more than double by 2050, rising from 39 million today to 89 million. While children are projected to still outnumber the older population worldwide in 2050, the under 15 population in the United States is expected to fall below the older population by that date, increasing from 62 million today to 85 million. These figures come from the world population estimates and projections released today through the Census Bureau’s International Data Base. This latest update includes projections by age, including people 100 and older, for 227 countries and areas."
News release: "Fannie Mae and Freddie Mac modified nearly 37,000 loans during the first quarter of 2009. It is an increase of 57 percent over the fourth quarter of 2008 and more than double the number of modifications in the first quarter of last year. The data were released by James B. Lockhart, Director of the Federal Housing Finance Agency, as part of the Foreclosure Prevention Report for the first quarter of 2009."
Measuring the Effects of the Business Cycle on the Federal Budget, June 2009: "In March 2009, the Congressional Budget Office (CBO) released its most recent baseline projections of federal revenues, outlays, and budget balances for the next 10 years. Those projections are developed in a process by which CBO assumes the continuation of current laws and policies that affect taxes and mandatory spending programs and extrapolates the growth of discretionary spending by using projected rates of inflation. According to CBO’s projections, under current tax and spending policies, the budget deficit would increase from $459 billion in 2008 to $1.7 trillion in 2009 and then fall to $1.1 trillion in 2010 and to $693 billion in 2011. Measured relative to the size of the economy—that is, as a percentage of gross domestic product, or GDP—the deficit would be 11.9 percent of GDP in 2009 (the largest in more than half a century), 7.9 percent in 2010, and4.6 percent in 2011."
WSJ: "Defense Secretary Robert Gates created a new military command dedicated to cyber security on Tuesday, reflecting the Obama administration's plans to centralize and elevate computer security as a major national-security issue. In a memo to senior Pentagon officials, Mr. Gates said he intends to recommend that Lt. Gen. Keith Alexander, director of the National Security Agency, take on the additional role as commander of the Cyber Command with the rank of a four-star general."
Patricia White, Associate Director, Division of Research and Statistics - Testimony: Over-the-counter derivatives Before the Subcommittee on Securities, Insurance, and Investment, Committee of Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. June 22, 2009 [link to all related testimony]: "...I appreciate this opportunity to provide the Federal Reserve Board's views on the development of a new regulatory structure for the over-the-counter (OTC) derivatives market. The Board brings to this policy debate both its interest in ensuring financial stability and its role as a supervisor of banking institutions. Today, I will describe the broad objectives that the Board believes should guide policymakers as they devise the new structure and identify key elements that will support those objectives. Supervision of derivative dealers is a fundamental element of the oversight of OTC derivative markets, and I also will discuss the steps necessary to ensure these firms employ adequate risk management."
Political Violence Against Americans 2008: "Political Violence Against Americans is a report to the American people that focuses on major incidents of anti-U.S. violence and terrorism, with apparent political motivations, that occurred worldwide during 2008. The U.S. Department of State closely monitors and maintains information on threats to Americans overseas – from terrorism and organized violence, to street crimes and health hazards – and makes this information freely available. It is the policy of the U.S.
Government that no double standard shall exist regarding the dissemination of threat information that affects U.S. citizens. Government employees may not benefit unfairly by access to, or possession of privileged information that applies equally to all Americans."
State Personal Income: First Quarter 2009: "U.S. personal income continued to decline in the first quarter of 2009, falling 0.5 percent and encompassing 37 states, according to estimates released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2008, U.S. personal income fell 0.4 percent."
"On April 16, 2009, President Obama, together with Vice President Biden and Secretary of Transportation LaHood, announced a new vision for developing high-speed rail in America. They called for a collaborative effort among the Federal Government, States,
railroads, and other key stakeholders to help transform America’s transportation system through a national network of high-speed rail corridors. This notice builds on this “Vision for High-Speed Rail” by detailing the application requirements and procedures for obtaining funding for high-speed rail projects under the American Recovery and Reinvestment Act of 2009 (ARRA) and the Department of Transportation Appropriations Acts of 2008 and 2009 (FY 2008/2009 DOT Appropriations Acts), while laying the foundation for a longer-term program to establish a network of high-speed rail corridors."
"The ninth annual Trafficking in Persons Report [download each section or complete report] sheds light on the faces of modern-day slavery and on new facets of this global problem. The human trafficking phenomenon affects virtually every country, including the United States. In acknowledging America’s own struggle with modern-day slavery and slavery-related practices, we offer partnership. We call on every government to join us in working to build consensus and leverage resources to eliminate all forms of human trafficking." --Secretary Clinton, June 16, 2009.
Weekly Address, June 20, 2009: President Obama Highlights Tough New Consumer Protections: "...one of the most important proposals is a new oversight agency called the Consumer Financial Protection Agency [proposed in the White House Financial Regulatory Reform Plan]. It’s charged with just one job: looking out for the interests of ordinary Americans in the financial system. This is essential, for this crisis may have started on Wall Street. But its impacts have been felt by ordinary Americans who rely on credit cards, home loans, and other financial instruments...This new agency will have the responsibility to change that. It will have the power to set tough new rules so that companies compete by offering innovative products that consumers actually want – and actually understand. Those ridiculous contracts – pages of fine print that no one can figure out – will be a thing of the past. You’ll be able to compare products – with descriptions in plain language – to see what is best for you. The most unfair practices will be banned. The rules will be enforced."
A Brief Examination of Previous House Price Declines, June 2009: "This Federal Housing Finance Agency (FHFA) research paper examines previous house price downturns across Census Divisions, states, and localities in the United States. The paper is part of FHFA’s ongoing effort to enhance public understanding of the nation’s housing finance system. The paper was prepared by Jesse Weiher of the Office of Policy Analysis and Research."
News release: "The Federal Highway Administration awarded a $382,971 grant to Coreslab Structures (OMAHA) Inc., this week to manufacture and install the deck for a bridge using a brand of concrete considered the most high-tech in the industry. Known as "ultra high-performance concrete," this variety of concrete is much more durable than traditional forms and will be used for the first time in the "waffle" deck panels of a bridge in Wapello County, Iowa. This particular design with cross sections makes it less costly to use the material. The panels also will be fabricated off site and then placed onto the bridge, resulting in less construction time. The grant was provided under FHWA's Highways for LIFE program which promotes highway innovations."
"Traffic Volume Trends is a monthly report based on hourly traffic count data reported by the States. These data are collected at approximately 4,000 continuous traffic counting locations nationwide and are used to estimate the percent change in traffic for the current month compared with the same month in the previous year. Estimates are re-adjusted annually to match the vehicle miles of travel from the Highway Performance Monitoring System and are continually updated with additional data."
News release: "The Federal Trade Commission today sent a copy of a recent staff report, Self-Regulatory Principles for Online Behavioral Advertising, to two subcommittees of the House of Representatives Committee on Energy and Commerce that are holding a joint hearing on behavioral advertising. A letter on behalf of the Commission that accompanied the report states that the FTC “has actively encouraged industry to embrace new measures relating to behavioral advertising to inform and empower consumers and is monitoring developments” so that consumers’ privacy is protected. The letter and report were sent to the Subcommittee on Communications, Technology, and the Internet, and the Subcommittee on Commerce, Trade, and Consumer Protection."
Secrecy News: "The rise of “the wall” between intelligence and law enforcement personnel that impeded the sharing of information within the U.S. government prior to September 11, 2001 was critically examined in a detailed monograph (pdf) that was prepared in 2004 for the 9/11 Commission. It is the only one of four staff monographs that had not previously been released. It was finally declassified and disclosed earlier this month. In April 2004, Attorney General John Ashcroft testified (pdf) that the failure to properly share threat information in the summer of 2001 could be attributed to Justice Department policy memoranda that were issued in 1995 by the Clinton Administration. That is an erroneous oversimplification, the staff monograph contends: “A review of the facts… demonstrates that the Attorney General’s testimony did not fairly and accurately reflect” the meaning or relevance of those 1995 policy documents. For one thing, those policies did not even apply to CIA and NSA information, which could have been shared with law enforcement without any procedural obstacles."
"The Federal Trade Commission today described its comprehensive efforts to combat identity theft before the U.S. House Subcommittee on Information Policy, Census, and National Archives of the Committee on Oversight and Government Reform. The FTC also recommended legislative remedies to enhance the effectiveness of these efforts. The testimony presented by Betsy Broder, Assistant Director of the FTC’s Division of Privacy and Identity Protection, highlighted the agency’s leadership role in developing a national strategy to combat identity theft as part of the President’s Identity Theft Task Force. The Task Force issued 31 recommendations that promoted an enhanced data security culture in the public and private sectors, launched victim assistance initiatives, and improved law enforcement’s ability to pursue and punish identity thieves."
Follow up to June 16, 2009 posting - Draft of the White House Financial Regulatory Overhaul Plan - the White House today released: Financial Regulatory Reform: A New Foundation - Rebuilding Financial Supervision and Regulation - "We must act now to restore confidence in the integrity of our financial system. The lasting economic damage to ordinary families and businesses is a constant reminder of the urgent need to act to reform our financial regulatory system and put our economy on track to a sustainable recovery. We must build a new foundation for financial regulation and supervision that is simpler and more effectively enforced, that protects consumers and investors, that rewards innovation and that is able to adapt and evolve with changes in the financial market. In the following pages, we propose reforms to meet five key objectives..
Below are links related to the White Fact Sheets:
Strengthening the Transatlantic Alliance: An Overview of the Obama Administration's Policies in Europe, Philip H. Gordon, Assistant Secretary, Bureau of European and Eurasian Affairs, Statement before the Subcommittee on Europe of the House Foreign Affairs Committee, Washington, DC, June 16, 2009
Joshua Gomez, Travis Pinnick, and Ashkan Soltani, UC Berkeley, School of Information - KnowPrivacy - June 1, 2009
Special Inspector General for Iraq Reconstruction Joint Audit of Blackwater Contract and Task Orders for Worldwide Personal Protective Services in Iraq, Report Numbers AUD/IQO-09-16,SIGIR 09-021, June 2009. Unclassified.
"This issue of Supervisory Insights provides a chronology of selected major events and developments that occurred in the financial services industry during a tumultuous 2008. Although the long term effects are unclear, certain points of emphasis for bank supervisors are emerging, and “A Year in Bank Supervision: 2008 and a Few of Its Lessons” offers observations on areas of current and future supervisory attention."
"On 16 June the Government published The Digital Britain Report, its strategic vision for ensuring that the UK is at the leading edge of the global digital economy. The report provides actions and recommendations to promote and protect talent and innovation in our creative industries, to modernise TV and radio frameworks and support local news, and introduces policies to maximise the social and economic benefits from digital technologies."
DHS Office of Immigration Statistics - Refugees and Asylees: 2008, Daniel C. Martin AND Michael Hoefer
News release: "The U.S. Department of the Treasury today released the concluding statement by the staff of the International Monetary Fund (IMF) following this year's Article IV Consultation with the United States. This statement represents the independent judgment and assessment by IMF staff of U.S. economic performance and policies. Release of this statement is consistent with the United States' longstanding, strong support for enhanced transparency of the IMF. The United States also plans to release the IMF staff report and Public Information Notice on the U.S. Article IV review following the Executive Board's discussion of the mission later this summer."
OMB Memorandum: Planning for the President’s Fiscal Year 2011 Budget and Performance Plans, June 11, 2009
"...Specifically, we expect the following to take place over the next six months in order to begin the change process:
CBO: Preliminary Analysis of Major Provisions Related to Health Insurance Coverage Under the Affordable Health Choices Act, June 15, 2009. Letter to the Honorable Edward M. Kennedy.
Remarks at the 2009 World Food Prize Announcement Ceremony, Hillary Rodham Clinton, Secretary of State, Washington, DC. June 11, 2009
News release: "As part of the Obama Administration's efforts to stimulate economic growth and jumpstart the availability of financing critical for economic recovery, the U.S. Treasury Department announced $25 billion in bonds authority available under the Recovery Zone Bonds program. Created by the American Recovery and Reinvestment Act (Recovery Act), Recovery Zone Bonds are targeted to areas particularly affected by job loss and will help local governments obtain financing for much needed economic development projects, such as public infrastructure development...To make this program as easy as possible for state and local governments to administer and use, the Treasury Department has also detailed the bond volume cap allocations at the local level for counties and large cities. The total state allocations and the complete list of direct county and large city allocations can be found here."
Responses to Questions About the Cost of a Cap-and-Trade Program, June 12, 2009 - Letter to the Honorable John F. Kerry
U.S. Import and Export Price Indexes, May 2009: "The U.S. Import Price Index increased for the third consecutive month in May, rising 1.3 percent. An 8.3 percent increase in petroleum prices was the primary contributor to the overall advance. The U.S. Export Price Index rose 0.6 percent in May after increasing 0.4 percent in April."
"The entire 2006 edition of the United States Code is now available from the U.S. Government Printing Office. The 2006 edition contains the laws enacted through the 109th Congress (ending January 3, 2007, the last law of which was signed January 15, 2007). In addition, PDF files have been made available for the U.S. Code, 2006 edition only. The U.S. Code is the codification by subject matter of the general and permanent laws of the United States, based on what is printed in the Statutes at Large. It is divided by broad subjects into 50 titles and published by the Office of the Law Revision Counsel of the U.S. House of Representatives. The online version of the United States Code, 2006 Edition is available through GPO Access."
News release: "Obama Administration officials announced that they are taking unprecedented steps to reduce the environmental impacts of mountaintop coal mining in the six Appalachian states of Kentucky, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia through a coordinated approach between the Environmental Protection Agency (EPA), Department of the Interior (DOI) and Army Corps of Engineers. Through a Memorandum of Understanding signed by Lisa P. Jackson, Administrator of the Environmental Protection Agency; Ken Salazar, Secretary of the Interior; and Terrence “Rock” Salt, Acting Assistant Secretary of the Army for Civil Works, the Administration will implement an Interagency Action Plan on mountaintop coal mining..."
"The World Trade Organization has recently posted on its website an interactive map that depicts disputes between its member states. The top of the webpage shows a list of highlight-able choices among types of member-state involvement in disputes: as complainant, respondent, or either. The accompanying map shows member-state areas of the world in a color range of whitish pink to red, to indicate the range in the number of disputes (0-100), and non-member-state areas in gray; the United States is bright red." [LC, Wendy Zeldin]
Committee on Oversight and Government Reform and Subcommittee on Domestic Policy held a hearing on: Bank of America and Merrill Lynch: How Did a Private Deal Turn Into a Federal Bailout?
News release: "A report released today by the U.S. Department of the Interior reveals flaws in the process through which a controversial set of oil and gas leases were offered in Utah in the waning days of the previous Administration, including several near Arches and Canyonlands National Parks, and Dinosaur National Monument. Secretary of the Interior Ken Salazar, who commissioned the report from a team led by Deputy Secretary David J. Hayes, agreed with the report’s recommendations, and has directed several follow-up actions, including directing that the Bureau of Land Management (BLM), in coordination with other federal and state agencies, formulate a comprehensive air quality strategy for the region and to form a special BLM team to conduct a final decision-making review of the 77 parcels in question. The report groups the parcels into categories, noting that some of the parcels, particularly those in areas with existing oil and gas development, may be appropriate for development after a final review. Other parcels in and near sensitive landscapes will require a more extensive, site-specific review."
News release: "Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address. The “Red Flags and Address Discrepancy Rules,” which implement sections of the Fair and Accurate Credit Transactions Act of 2003, were issued jointly on November 9, 2007, by the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), Office of Thrift Supervision (OTS), and Federal Trade Commission (FTC)."
News release: "Acting Archivist of the United States Adrienne Thomas announced today the appointment of Miriam Nisbet as the director of the Office of Government Information Services (OGIS) within the National Archives and Records Administration. OGIS, an organization newly established under the OPEN Government Act of 2007, will provide policy guidance and mediation services for FOIA activities government-wide."
"The Internal Revenue Service and Treasury Department today announced that a tax break for the purchase of new motor vehicles is available in states that do not have a state sales tax. Under the American Recovery and Reinvestment Act of 2009, taxpayers who buy a new motor vehicle this year are entitled to deduct state or local sales or excise taxes paid on the purchase."
June 10, 2009 - Interim Final Rule on TARP Standards for Compensation and Corporate Governance. For a copy of the regulations, click here [123 pages, PDF].
News release: "The Federal Trade Commission today released a report entitled, Emerging Health Care Issues: Follow-on Biologic Drug Competition, which examines whether the price of biologic drugs – products manufactured using living tissues and microorganisms – could be reduced by competition from so-called “follow-on biologics” (FOBs). FOBs are like generic drugs, but with significant differences. Biologics are increasingly used to treat arthritis, cancer, diabetes, and other diseases. No pathway currently exists for such FOBs to enter the market and compete with their pioneer counterparts. The FTC’s Report concludes that providing the U.S. Food and Drug Administration (FDA) with the authority to approve such FOBs would be an efficient way to bring these lower-priced drugs to market."
June 10, 2009 - Summary of Commentary on Current Economic Conditions by Federal Reserve District. Link to reports by Districts.
Employer Costs for Employee Compensation Summary - May 2009: " Employer costs for employee compensation averaged $29.39 per hour worked in March 2009, the U.S. Department of Labor’s Bureau of Labor Statistics reported today. Wages and salaries, which averaged $20.49, accounted for 69.7 percent of these costs, while benefits, which averaged $8.90, accounted for the remaining 30.3 percent. Employer Costs for Employee Compensation, based on the National Compensation Survey, measures employer costs for wages, salaries, and employee benefits for nonfarm private and state and local government workers."
News release: "The unemployment rate for the OECD area was 7.8% in April 2009, 0.1 percentage point higher than the previous month and 2.2 percentage points higher than a year earlier.
In the Euro area, the unemployment rate was 9.2% in April 2009, 0.3 percentage point higher than the previous month and 1.9 percentage points higher than in April 2008. For the United States, the unemployment rate for May 2009 was 9.4%, 0.5 percentage point higher than the previous month and 3.8 percentage points higher than a year earlier. For Japan, the rate was 5.0% in April 2009, 0.2 percentage point higher than the previous month and 1.1 percentage points higher than in April 2008."
Did the 2008 Tax Rebates Stimulate Short-Term Growth?, June 10, 2009 Economic and Budget Issue Brief
Health and Human Services, HeathReform.gov: "Despite consistent increases in spending, disparities among demographic groups persist. Low-income Americans and racial and ethnic minorities experience disproportionately higher rates of disease, fewer treatment options, and reduced access to care. With unemployment on the rise, the disparities already apparent among these groups will continue to increase. A new report Health Disparities: A Case for Closing the Gap demonstrates the need for reform.
"The Congressional Oversight Panel June 2009 Oversight Report, Stress Testing and Shoring Up Bank Capital, examines the recent stress tests conducted on America’s 19 largest bank holding companies (BHCs)...The Panel’s report examines how effectively Treasury and the Federal Reserve conducted the stress tests, specifically reviewing the government’s economic assumptions, their methods of calculating bank capitalization, their release of information to the public, and whether the stress tests should be repeated in the future. To help make these assessments of the stress tests, the panel engaged two internationally renowned experts in risk analysis, University of California at Berkeley Professors Eric Talley and Johan Walden, to review the stress test methodology."
OPEC Revenues Fact Sheet (06/09/2009): "Based on projections from the EIA June 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $530 billion of net oil export revenues in 2009 and $620 billion in 2010. Last year, OPEC earned $968 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $285 billion, representing 29 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,680 in 2008, a 40 percent increase from 2007."
"The Digital Map - Beta is the first step toward a new generation of digital topographic maps delivered by the U.S. Geological Survey. These maps are built from The National Map data, which are integrated from local, State, Federal, and other sources. The initial version of the "Digital Map – Beta" includes orthoimagery plus roads and geographic names in the traditional 7.5 minute quadrangle format. "Digital Maps - Beta" are available free on the Web in the GeoPDF format. File size is about 15 to 20 Megabytes. Tools are available free for download. Users can turn data layers on and off, zoom in and out, and print the maps."
News release: "U.S. Attorney General Eric Holder, U.S. Department of Homeland Secretary Janet Napolitano, and Director of National Drug Control Policy Gil Kerlikowske released President Obama's strategy to stem the flow of illegal drugs and their illicit proceeds across the Southwest border and reduce associated crime and violence in the region. The National Southwest Border Counternarcotics Strategy directs Federal agencies to increase coordination and information sharing with State and local law enforcement agencies, intensifies national efforts to interdict the southbound flow of weapons and bulk currency, and calls for continued close collaboration with the Government of Mexico in their efforts against the drug cartels. The strategy is an important component of the Administration's national drug control policy and complements the Administration's comprehensive efforts to respond to threats along the border."
News release: "A record 10,552 fair housing discrimination complaints were filed in fiscal year 2008, according to a report just released by the U.S. Department of Housing and Urban Development. The State Of Fair Housing FY 2008, Annual Report On Fair Housing, which is produced for Congress each year, shows that a large portion of the complaints, 44 percent, were filed by persons with disabilities. Thirty-five percent, or 3,699, of the complaints alleged discrimination based on race."
Maps of Domestic Natural Gas Sources (06/08/2009): "Summary maps of domestic natural gas sources: Lower 48 States conventional gas production onshore and offshore, shale plays, tight gas plays, and coalbed methane fields. Many more oil and gas maps, summary and detailed, also available."
"Our Roadmap to Recovery initiative is an ambitious effort to reflect the commitments of your Cabinet members for a stepped up level of activity in implementing the Recovery Act in the next 100 days. We intend to deliver this increased pace at virtually every agency, and in countless programs. In this report, we have highlighted ten of these commitments and provided a graphic representation of where Americans can expect to see the Recovery Act in action across the country this summer."
List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies. Available Formats:
"On Monday, June 8, the World Factbook team unveiled its thoroughly redesigned Web site. Presenting a cleaner look, improved navigation, and a host of added features, the new site provides visitors with a more user-friendly experience. The CIA first made the Factbook available to the public in 1975 and launched its online presence in 1997. This is the first major redesign of the Factbook site in over a decade. More than 3 million visitors access the online Factbook monthly. The world-renowned Factbook provides visitors with wide-ranging and hard-to-locate information about the background, geography, people, government, economy, communications, transportation, military, and transnational issues for 266 countries and other entities."
Emerging Issues in the U.S. Organic Industry, By Catherine Greene, Carolyn Dimitri, Biing-Hwan Lin, William McBride, Lydia Oberholtzer, and Travis Smith. Economic Information Bulletin No. (EIB-55) 36 pp, June 2009
"H.R. 2454, American Clean Energy and Security Act of 2009, as ordered reported by the House Committee on Energy and Commerce on May 21, 2009 would make a number of changes in energy and environmental policies largely aimed at reducing emissions of gases that contribute to global warming. The bill would limit or cap the quantity of certain greenhouse gases (GHGs) emitted from facilities that generate electricity and from other industrial activities over the 2012-2050 period. The Environmental Protection Agency (EPA) would establish two separate regulatory initiatives known as cap-and-trade programs—one covering emissions of most types of GHGs and one covering hydrofluorocarbons (HFCs). EPA would issue allowances to emit those gases under the cap-and-trade programs. Some of those allowances would be auctioned by the federal government, and the remainder would be distributed at no charge...CBO has determined that the non-tax provisions of H.R. 2454 contain intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). Several of those mandates would require utilities, manufacturers, and other entities to reduce greenhouse gas emissions through cap-and-trade programs and performance standards. CBO estimates that the cost of mandates in the bill would well exceed the annual thresholds established in UMRA for intergovernmental and private-sector mandates (in 2009, $69 million and $139 million respectively, adjusted annually for inflation)."
A CBO Paper - The Effects of Proposals to Increase Cost Sharing in TRICARE, June 2009
News release: "Nonfarm payroll employment fell by 345,000 in May, about half the average monthly decline for the prior 6 months, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The unemployment rate continued to rise, increasing from 8.9 to 9.4 percent. Steep job losses continued in manufacturing, while declines moderated in construction and several service-providing industries....The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4 percent. Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.0 million, and the unemployment rate has grown by 4.5 percentage points."
Energy Information Administration: Iraq Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal, June 2009
Beth Noveck, Deputy Chief Technology Officer for Open Government: "...this initial public engagement process on open government policy will take place in three phases (brainstorming, discussion, drafting). Following this initial process, we will distill the input received here, from submissions of proposals in From the Inbox, and from government experts and develop a set of draft recommendations for both public and inter-governmental review. These recommendations will, in turn, help to guide the development of government-wide policy on transparency, participation, and collaboration."
Monthly Budget Review, June 2009 - Based on the Monthly Treasury Statement for April and the Daily Treasury Statements for May: "The federal budget deficit was $984 billion for the first eight months of fiscal year 2009, CBO estimates, $664 billion more than the deficit recorded through May 2008. That estimate includes outlays for the Troubled Asset Relief Program (TARP) of about $130 billion to date for fiscal year 2009, recorded on a net-present-value basis (adjusted for market risk, as required by the Emergency Economic Stabilization Act, which created the TARP). Revenues have fallen by about 18 percent compared with the amounts collected in 2008; in contrast, outlays have grown by more than 18 percent."
"The Commerce Department’s National Institute of Standards and Technology (NIST) delivered to the Election Assistance Commission (EAC) a draft revision to the 2005 federal Voluntary Voting System Guidelines (VVSG) Version 1.0, specifying how electronic voting machines are built and tested. The EAC has made the draft revision available for public comment today, with a final version expected by the end of 2009...The draft revision, titled Voluntary Voting System Guidelines, Version 1.1, provides improved requirements for electronic voting machine accuracy, reliability, usability, accessibility and security."
"The purpose of Data.gov is to increase public access to high value, machine readable datasets generated by the Executive Branch of the Federal Government. As a priority Open Government Initiative for President Obama's administration, Data.gov increases the ability of the public to easily find, download, and use datasets that are generated and held by the Federal Government. Data.gov provides descriptions of the Federal datasets (metadata), information about how to access the datasets, and tools that leverage government datasets. The data catalogs will continue to grow as datasets are added. Federal, Executive Branch data are included in the first version of Data.gov."
"New data from the U.S. Census Bureau show that 62 percent of households reported using Internet access in the home in 2007, an increase from 18 percent in 1997, the first year the bureau collected data on Internet use. Sixty-four percent of individuals 18 and over used the Internet from any location in 2007, while only 22 percent did so in 1997. Among households using the Internet in 2007, 82 percent reported using a high-speed connection, and 17 percent used a dial-up connection."
Chairman Ben S. Bernanke, Current economic and financial conditions and the federal budget, Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C., June 3, 2009
News release: "Secretary of the Interior Ken Salazar today sent Congress his recommendations for a national program to help reduce greenhouse gases by selecting appropriate underground geological formations on public lands to inject and store carbon dioxide emissions from coal-fired power plants and other carbon-dioxide producing facilities."
"New statistics released by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2008 as economic growth overall slowed. Real GDP growth slowed in 38 states, with downturns in construction, manufacturing, and finance and insurance restraining growth in many states.1 Growth in real U.S. GDP by state slowed from 2.0 percent in 2007 to 0.7 percent in 2008."
News release: "The Federal Reserve Bank of New York welcomes the letter published today by major financial market participants, committing to additional changes in the market design and risk management for over-the-counter (OTC) derivatives. The letter, which addresses issues discussed at an April 1 meeting between major market participants and banking supervisors, continues supervisory efforts to reduce systemic risks in the OTC derivatives market. The objectives include expanding use of central counterparties, strengthening risk management and operations, significantly improving transparency and ensuring strong coordination within the regulatory community. Key elements of the letter include establishing, for the first time, deadlines for recording all credit, interest rate and equity derivatives transactions in trade repositories and expanding credit default swap (CDS) central clearing to buy-side firms."
Follow up to previous postings on GM bankruptcy: "The United States Bankruptcy Court for the Southern District of New York is pleased to announce a pilot project to make digital audio recordings of court proceedings relating to Chrysler LLC, 09-50002, and General Motors Corporation, 09-50026, publicly available online. The audio files are accessible through the Public Access to Court Electronic Records (PACER) system. Registration for PACER access may be obtained at www.pacer.psc.uscourts.gov"
An Analysis of the Army’s Transformation Programs and Possible Alternatives, June 2009
Council of Economic Advisers - The Economic Case for Health Care Reform, June 2009
Retirement - USA.gov: links to several dozen topical sites.
News release: "According to the FBI's Preliminary Annual Uniform Crime Report released June 1, 2009, the nation experienced a 2.5 percent decrease in the number of violent crimes and a 1.6 percent decline in the number of property crimes for 2008 compared with data from 2007. The report is based on information that the FBI gathered from 12,750 law enforcement agencies that submitted six to 12 comparable months of data to the FBI for both 2007 and 2008."
News release: "The Federal financial institution regulatory agencies are together issuing for public comment proposed rules requiring mortgage loan originators who are employees of agency-regulated institutions to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The S.A.F.E. Act requires the agencies to jointly develop and maintain a system for registering residential mortgage loan originators who are employees of agency-regulated institutions, including national and State banks, savings associations, credit unions, and Farm Credit System institutions, and certain of their subsidiaries. These mortgage loan originators must be registered with the Nationwide Mortgage Licensing System and Registry (Registry), a database established by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators to support the licensing of mortgage loan originators by the States. As part of this registration process, mortgage loan originators must furnish to the Registry background information and fingerprints for a background check. The S.A.F.E. Act generally prohibits employees of an agency-regulated institution from originating residential mortgage loans without first registering with the Registry."
"USA.gov recently launched the official U.S. government channel on YouTube. The channel features more than 200 videos from 25 agencies, including health and nutrition videos; footage of the ocean floor; how-to videos on applying for benefits; and more. USA.gov has also updated its presence on Facebook and is seeing a rapidly growing number of followers on Twitter. To find additional new media tools that the government is using, visit USA.gov’s Connect with Government page."
nextgov - Bob Brewin posted the link to this 114 page PDF document, 2009 National Intelligence: A Consumer's Guide, and stated that this handbook, "distributed to intelligence professionals, which, among other things, highlights some top-secret networks that until now have been, well, top secret."
"Effective June 1, 2009, all citizens of the United States, Canada, Mexico, and Bermuda must carry a passport or other accepted documentation when entering or leaving the U.S. by air, land, or sea. This requirement — known as the Western Hemisphere Travel Initiative — has been gradually implemented since 2007 to allow sufficient time for travelers to obtain proper documentation. Visit this U.S. Department of Homeland Security webpage to see what types of documentation are accepted."
News release: "The fifth meeting of the OECD’s Forum on Tax Administration was held in Paris on 28-29 May 2009, bringing together more than 100 participants from 34 OECD and non-OECD countries. The discussions focused on the challenges and opportunities currently facing revenue bodies and taxpayers around the world as a result of the first truly global financial and economic crisis. Working alongside senior business leaders, the heads of revenue bodies from FTA participating countries came together to share experiences and expertise to strengthen the responses of individual revenue bodies and to develop new joint initiatives...The full report will be available in July 2009. Below is the list of documents available:
News release: "The eRulemaking Program, a federal-wide E-Government project led by the U.S. Environmental Protection Agency, has launched Regulations.gov Exchange. Regulations.gov is the one-stop, online source for citizens to search, view and comment on regulations issued by the U.S. government. In the past, the paper process limited the public’s ability to find rules and comment. Today, the public can explore new features for Regulations.gov, post opinions, engage directly with other users and with eRulemaking program staff. Regulations.gov Exchange will be open for public participation from May 21 – July 21, 2009."
Bureau of Labor Statistics: Ranks of Discouraged Workers and Others Marginally Attached to the Labor Force Rise During Recession
GPO Sustainable Environmental Stewardship - Good Business, Good Government - Annual Report 2008: "As the largest industrial manufacturer in the District of Columbia, the U.S. Government Printing Office (GPO) tries to be as environmentally sensitive as possible. This includes trying to be green in virtually every step of our pr int ing processes. GPO has a long history of recycling. For nearly 150 years, GPO has been recycling waste paper, copper, brass, and scrap metal. Since 1954, GPO has been recycling corrugated boxes. Other materials we recycle include aluminum, silver, photographic film, phototypesetting paper, empty paint cans, 55-gallon metal drums, plastic drums, CDs, floppy disks, and video cassettes. In this Annual Report, we will show you how GPO is taking heed of the words spoken by President Theodore Roosevelt a century ago. It is our obligation to be a good steward of the resources under GPO’s control. Sustainable Environmental Stewardship is good business and good Government."
White House: Securing Our Digital Future, Melissa Hathaway, Cybersecurity Chief at the National Security Council, discusses securing our nation's digital future.
News release: "In an effort to better protect financially distressed homeowners, the Federal Trade Commission has initiated a rulemaking proceeding involving foreclosure rescue and loan modification services. The FTC is seeking public comment to determine whether certain practices by companies providing these services are unfair or deceptive and should be reined in by proposed rules that would set standards to protect consumers."
News release: "With summer on the way, hotter days and vacation road trips are coming up fast. Because the costs of cooling your home and filling up your car can add up, the Federal Trade Commission is offering tips to save you money. Saving Starts @ Home: The Insider Story on Conserving Energy, offers energy conservation tips to help consumers save money in every room of the house. For example, for the attic, the FTC explains the ABCs of insulation. Among other tips for the kitchen, consumers find advice on using the newly redesigned Energy Guide labels available for all appliances. At Saving Money at the Gas Pump: A Bumper-to-Bumper Guide, consumers can find tips for improving fuel efficiency from bumper to bumper on a car."
Information Security and Privacy Advisory Board (ISPAB), Toward A 21st Century Framework for Federal Government Privacy Policy, May 2009
New release: "Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 27.9 percent lower in March 2009 than in March 2008, dropping to $51.1 billion, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation, March was the third consecutive month with a yearly decline of greater than 27 percent. The value of U.S. surface transportation trade with Canada and Mexico rose 6.5 percent in March 2009 from February 2009. Month-to-month changes can be affected by seasonal variations and other factors. Surface transportation consists largely of freight movements by truck, rail and pipeline. About 88 percent of U.S. trade by value with Canada and Mexico moves on land."
News release: "With the beginning of the beach season, the U.S. Environmental Protection Agency (EPA) is again undertaking a beach and harbor protection program, comprising surveillance, sampling and funding activities to safeguard beaches and bays in New Jersey and New York, and the health of the people who enjoy them. Using its helicopter, ships and cutting-edge technologies, EPA’s initiatives and scientific assessments will go farther in 2009 than ever before."
Law Library of Congress: Supreme Court Nominations - Sonia Sotomayor
The Budgetary Treatment of Proposals to Change the Nation's Health Insurance System, May 27, 2009
"NIST announces that its working definition of cloud computing is available. Researchers worked in collaboration with industry and government to draft the definition that serves as a foundation for its research and future publication on the topic. Cloud computing is a pay-per-use model for enabling available, convenient, on-demand network access to a shared pool of configurable computing resources that can be rapidly provisioned and released with minimal management effort or service provider interaction. Researchers are studying cloud architectures, economics, security and deployment strategies for the federal government."
News release: "Many people concerned about their mortgage, their job or their finances may be especially vulnerable to scams and other costly "fixes" for their problems. The Federal Deposit Insurance Corporation today issued a variety of tips to help consumers be on guard financially in the current economy. The advice was published in the Spring 2009 issue of FDIC Consumer News, the agency's quarterly newsletter for consumers."
Treasury: Quarterly Report to Congress on International Monetary Fund Lending, January 1 – March 31, 2009
Quarterly Banking Profile: Fourth Quarter 2008 - The 2009 Economic Landscape: How the Recession Is Unfolding across Four U.S. Regions Alternative Financial Services - A Primer - "Provides the earliest comprehensive summary of financial results for all FDIC-insured institutions. This report card on industry status and performance includes written analyses, graphs and statistical tables."
News release: "World marketed energy consumption is projected to grow by 44 percent between 2006 and 2030, driven by strong long-term economic growth in the developing nations of the world, according to the reference case projection from the International Energy Outlook 2009 (IEO2009) released today by the Energy Information Administration (EIA). The current global economic downturn will dampen world energy demand in the near term, as manufacturing and consumer demand for goods and services slows. However, with economic recovery anticipated to begin within the next 12 to 24 months, most nations are expected to see energy consumption growth at rates anticipated prior to the recession. Total world energy use rises from 472 quadrillion British thermal units (Btu) in 2006 to 552 quadrillion Btu in 2015 and then to 678 quadrillion Btu in 2030."
News release: "Devolution has changed the system of Government of the United Kingdom irreversibly, according to the Commons Justice Committee, but has left England’s government highly centralised and, in the view of many, in need of fundamental change.
Federal Computer Week: "The new YouTube channel, the U.S. Government Channel, has more than 200 videos from 25 agencies arranged in 13 playlists, including one in Spanish. Macon Phillips, the White House’s new media director, appears in a video that showcases new media being used by government agencies."
News release: "Our current economic situation has altered some of the usual interactions between monetary and fiscal policy. One change regards the relative effects of monetary and fiscal policy. The depth and persistence of economic weakness has meant that traditional monetary policy--the target for the federal funds rate--has become constrained from easing as much as might be desirable under the circumstances, and, as a consequence, the target federal funds rate is anticipated to remain near zero for some time. But as a result, fiscal stimulus has potentially become more effective in boosting economic activity than it usually would be."
News release: " The Online Trust Alliance (OTA) gave leading government agencies and online retailers a failing grade in preventing deceptive email and phishing scams based on its newly released analysis of email authentication adoption. While adoption has grown over the past year, OTA found approximately 56 percent of the top .gov sites – including Whitehouse.gov, FBI.gov, Treasury.gov and DHS.gov – still are not protecting U.S. citizens through the use of email authentication. At the same time, progress has been made by other government agencies including the Census Bureau, CIA, FDIC, VA and FTC."
D-2009-075 Afghanistan Security Forces Fund Phase III-Accountability for Weapons Distributed to the Afghanistan National Army, May 21, 2009 (Project No. D2007-D000LQ-0161.005)
As the dust starts to settle, which banks deserve the most plaudits?: "After months of indiscriminate fear, widespread losses and government hand-holding, the banking industry is gradually stabilising. Money markets are steadily calming. American banks that got a clean bill of health in this month’s stress tests are queuing up to repay government money. A first wave of escapees is likely to include Goldman Sachs, Morgan Stanley and JPMorgan Chase. Those banks that emerge from this crisis with reputations and franchises strengthened will find it increasingly easy to raise funds, win clients, attract employees and buy assets."
"The Best Places to Work rankings — the most comprehensive and authoritative rating of employee satisfaction and commitment in the federal government — are produced by the Partnership for Public Service and American University's Institute for the Study of Public Policy Implementation (ISPPI)."
"The proposed national autos program adopts uniform federal standards to regulate both fuel economy and greenhouse gas emissions while preserving the legal authorities of DOT, EPA and California. The program covers model year 2012 to model year 2016 and ultimately requires an average fuel economy standard of 35.5 mpg in 2016. The result is a projected reduction in oil consumption of approximately 1.8 billion barrels over the life of the program and a projected total reduction in greenhouse gas emissions of approximately 900 million metric tons. This groundbreaking policy is good for consumers, good for the auto industry and it helps our country by reducing pollution and promoting energy independence."
The Agricultural Newsletter from the Federal Reserve Bank of Chicago Number 1944, May 2009: "There was a quarterly decrease of 6 percent in the value of “good” agricultural land—the largest quarterly decline since 1985—according to a survey of 227 bankers in the Seventh Federal Reserve District on April 1, 2009. Also, the year-over-year increase in District farmland values eroded to just 2 percent in the first quarter of 2009. Furthermore, the growth in farmland cash rental rates moderated in the District for 2009, with an increase of 7 percent. The number of survey respondents who observed that the demand to purchase farmland during the first three months of 2009 was lower relative to the same period last year exceeded those who observed higher demand. The number of farms sold, the acreage sold, and the amount of farmland for sale were all below the levels of the prior year. Nearly a third of the bankers anticipated further declines in land values during the second quarter of 2009, while almost two-thirds anticipated stable land values."
News release: "Today, President Obama...sign[ed] the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act into law...The Helping Families Save Their Homes Act is an important step towards stabilizing and reforming our nation’s financial and housing markets – helping American homeowners and increasing the flow of credit during these difficult economic times. This legislation will strengthen our nation's housing sector and facilitate the goals of the Administration's Making Home Affordable Program by helping millions of American homeowners stay in their homes. The Fraud Enforcement and Recovery Act will protect the American people by giving the federal government new tools and resources to prevent fraud. This reform bill will help the federal government keep markets free and fair, so that American consumers can thrive."
Oversight of the Troubled Assets Relief Program - The witness was The Honorable Timothy Geithner, Secretary, U.S. Department of the Treasury.
News release: "The Pension Benefit Guaranty Corporation posted a $33.5 billion deficit for the first half of fiscal year 2009, PBGC Acting Director Vince Snowbarger told the Senate Special Committee on Aging at a hearing today. Based on unaudited financial numbers as of March 31, the deficit represents an increase over FY 2008’s $11 billion shortfall, and is the largest in the agency’s 35-year history...The $22.5 billion deficit increase was due primarily to about $11 billion in completed and probable pension plan terminations; about $7 billion resulting from a decrease in the interest factor used to value liabilities; about $3 billion in investment losses; and about $2 billion in actuarial charges."
Follow up to previous postings on missing White House emails during Bush administrations, today's news release: "Today, in Citizens for Responsibility and Ethics in Washington (CREW) v. Office of Administration, the U.S. Court of Appeals for the D.C. Circuit issued an opinion upholding the district court's conclusion that the Office of Administration (OA) is not an agency and therefore is not subject to the Freedom of Information Act (FOIA). CREW brought this lawsuit under the FOIA to uncover documents related to OA's response to the discovery that millions of emails had gone missing from White House servers. Although OA had a history of responding to FOIA requests – in fact the office’s own website included regulations for filing FOIA requests with OA – after CREW sued OA suddenly claimed it was not an agency and was not required to produce any of the requested documents. The district court sided with the Bush administration, finding that OA was not an agency because it performed only administrative support functions and did not exercise substantial independent authority. In today's ruling, the D.C. Circuit agreed with that decision."
Remarks: "...While the United States makes up less than 5 percent of the world's population, we create roughly a quarter of the world's demand for oil. And this appetite comes at a tremendous price -- a price measured by our vulnerability to volatile oil markets, which send gas prices soaring and families scrambling. It's measured by a trade deficit where as much as 20 percent of what we spend on imports is spent on oil. It's measured in billions of dollars sent to oil-exporting nations, many that we do not choose to support, if we had a choice. It's measured in a changing climate, as sea levels rise, and droughts spread, forest burns, and storms rage."
News release: "The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of April 15, 2009 through May 14, 2009. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. Of the 39 evaluations made public this month, 10 were outstanding, 28 were satisfactory, and one was needs to improve. None were substantial noncompliance."
News release: "The dredging and related work will be conducted by GE under the terms of a November 2006 consent decree. EPA will oversee all aspects of the work; dredging will continue through October 2009, weather permitting. At the conclusion of this first phase of the project, an independent panel of experts will review the results of the dredging and potentially make recommendations for changes that may be incorporated throughout the remainder of the dredging, which is targeted for completion in 2015. This first phase of the dredging project will be conducted 24 hours a day, six days a week and targets the removal of 265,000 cubic yards of sediment and 20,300 kilograms of PCBs from a six-mile stretch of the river between Roger’s Island and Thompson Island. Sediment removed from the river will be carried by barge to a dewatering facility located on the Champlain Canal in Fort Edward. At this facility, water will be squeezed from the sediment and treated to drinking water standards before being returned to the canal. The remaining PCB-laden dirt will be loaded onto railcars for ultimate disposal at a permitted landfill facility in Andrews, Texas. The entire project will remove an estimated 1.8 million cubic yards of sediment and 113,000 kg of PCBs."
News release: "James B. Lockhart, Director of the Federal Housing Finance Agency (FHFA), today released FHFA’s first Report to Congress, detailing the findings of the agency’s 2008 annual examinations of Fannie Mae, Freddie Mac, the 12 Federal Home Loan Banks (FHLBanks), and the Office of Finance. The report is the first Report to Congress since FHFA was established by the Housing and Economic Recovery Act of 2008 (HERA), signed into law in July of 2008. A predecessor agency, the Office of Federal Housing Enterprise Oversight (OFHEO), previously published annual reports to Congress on Fannie Mae and Freddie Mac examinations."
News release: "The U.S. Department of the Treasury today released a letter from the Bretton Woods Committee, which includes the bipartisan support of five former secretaries of the Treasury, four former secretaries of State and America's leading foreign economic policy and national security experts to Speaker Pelosi and Majority Leader Reid expressing their support for the Administration's request for prompt enactment of additional funding for the International Monetary Fund (IMF), including the Obama Administration's request for the IMF's New Arrangements to Borrow (NAB). To view full text of the May 14th letter, click here."
CNN Transcripts - "ORSZAG: Well, I think what happened is the free-fall in the economy seems to have stopped and we're, I guess the analogy there are some glimmers of sun shining through the trees, but we're not out of the woods yet. We do have more work ahead."
[On May 15, 2009] "the President and Vice President released their 2008 financial disclosure reports. The Ethics in Government Act of 1978 requires high-level Federal officials to disclose publicly their personal financial interests. This is intended to ensure confidence in the integrity of the Federal government by demonstrating that officials are able to carry out their duties free of conflicts of interest. The public filing system serves to prevent such conflicts by providing for a systematic review of the financial interests of government officials. Neither the President nor the Vice President have any conflicts of interest, and their reports have been so certified by the independent Office of Government Ethics."
"The United States Bankruptcy Court for the Southern District of New York is pleased to announce a pilot project to make digital audio recordings of court proceedings relating to Chrysler LLC, 09-50002, publicly available online. The audio files are accessible through the Public Access to Court Electronic Records (PACER) system. Registration for PACER access may be obtained at www.pacer.psc.uscourts.gov."
News release: "Citizens for Responsibility of Ethics in Washington (CREW), along with 36 other organizations, has sent a letter to the White House urging that the White House's Office of Administration (OA) once again become an agency subject to the Freedom of Information Act (FOIA), as had been the case in previous administrations."
News release: "EPA will hold the first of two public hearings on Monday, May 18 regarding the agency’s proposed findings that greenhouse gases contribute to air pollution that may endanger public health or welfare. The proposed findings identify six greenhouse gases that pose a potential threat."
News release: "The U.S. Department of the Treasury today released results from its monthly bank lending survey for March with data from the top 21 recipients of government investments through the Capital Purchase Program (CPP). Overall, balance sheets continued to contract. Outstanding loan balances at these banks slipped 1 percent in March. The survey also collects information on originations, which rose by 27 percent."
News release: "Today, Senator John D. (Jay) Rockefeller, IV (D-WV), Chairman of the Senate Committee on Commerce, Science, and Transportation, and Senator Frank Lautenberg (D-NJ), Chairman of the Subcommittee on Surface Transportation, introduced The Federal Surface Transportation Policy and Planning Act of 2009. This important legislation establishes a comprehensive and unifying mission for the nation’s surface transportation system."
Audit Report: Material Loss Review of Freedom Bank, Bradenton, Florida, Posted May 12, 2009: "FB failed primarily due to bank management’s aggressive pursuit of asset growth concentrated in high-risk
CRE loans with inadequate loan underwriting and a lack of other loan portfolio and risk management controls. In addition, FB had a lending incentive compensation program without substantive credit quality controls that contributed to the bank’s rapid loan portfolio growth and rewarded loan officers without consideration of actual loan performance. Resulting losses severely eroded FB’s earnings and capital and negatively impacted liquidity, leading to the bank’s failure and a material loss to the DIF."
News release: "Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), and Senator Charles E. Schumer, Vice Chairman of the JEC, released a report showing unfair credit card practices are sending American families further into debt and undermining the economic recovery. The report, Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing Consumers and Undermining the Recovery, outlines how the economic downturn and financial crisis have accelerated the adverse impacts of these practices on consumers, small businesses and our economy as a whole."
News release: "Pool chemical injuries account for as many as 5,200 emergency room visits each year. A new study by the Centers for Disease Control and Prevention shows that these injuries are preventable, and during 2007 almost half of those injuries occurred at a residence. According to the study, published in CDC's Morbidity and Mortality Weekly Report (MMWR), persons can be injured by inhaling fumes when they open pool chemical containers, attempting to pre-dissolve pool chemicals, or handling them improperly. Persons can also be injured when chemicals splash into the eyes. These preventable injuries typically occur during the summer swimming season, from Memorial Day to Labor Day, and can occur in or out of the pool.
In addition to pool chemical injuries, thousands of people each year suffer from recreational water illnesses. The study was released ahead of CDC's National Recreational Water Illness Prevention Week, May 18-24. The week aims to raise awareness about healthy swimming behaviors, including ways to prevent recreational water illnesses and injuries. Recreational water illnesses are illnesses spread by swallowing, inhaling vapors, or having contact with contaminated water in swimming pools, water parks, spas, interactive fountains, lakes, rivers, or oceans."
Home Office Statistical Bulletin: Statistics on Terrorism Arrests and Outcomes, Great Britain 13 May 2009 - 11 September 2001 to 31 March 2008.
Unified Agenda, May 2009 Edition: "The Unified Agenda summarizes the rules and proposed rules that each Federal agency expects to issue during the next six months."
"Virtual Student Foreign Service (VSFS) Internships, announced by Secretary Clinton at the 2009 New York University commencement speech, are part of a growing effort by the State Department to harness technology and a commitment to global service among young people to facilitate new forms of diplomatic engagement. The VSFS Internships will be developed over the next year and will seek to harness the energy of a rising generation of citizen diplomats."
News release: "With summer and the high costs of cooling right around the corner, EPA is offering advice to help Americans reduce both energy bills and greenhouse gas emissions by one third through Energy Star. The energy used in an average home costs more than $2,200 a year and contributes more greenhouse gas emissions than a typical car."
CBO Study: Alternatives for Modernizing U.S. Fighter Forces, May 2009
News release: "The crisis of the past 20 months has exposed critical gaps and weaknesses in our financial regulatory system. As risks built up, internal risk management systems, rating agencies and regulators simply did not understand or address critical behaviors until they had already resulted in catastrophic losses. Those failures have caused a dramatic loss of confidence in our financial institutions and have contributed to a severe recession. Last March, Secretary Geithner laid out new regulatory rules of the road to ensure we never face a crisis of this magnitude again. An essential element of reform is the establishment of a comprehensive regulatory framework for over-the-counter derivatives, which under current law are largely excluded or exempted from regulation...Today, to address these concerns, the Obama Administration proposes a comprehensive regulatory framework for all Over-The-Counter derivatives..."
News release: "According to the 2009 National Gang Threat Assessment released by the National Gang Intelligence Center (NGIC) and the National Drug Intelligence Center (NDIC), approximately one million gang members belonging to more than 20,000 gangs were criminally active in the U.S. as of September 2008. The assessment was developed through analysis of available federal, state, and local law enforcement information; 2008 NDIC National Drug Threat Survey (NDTS) data; and verified open source information."
News release: "U.S. Department of Housing and Urban Development Secretary Donovan announced that HUD is offering nearly $1 billion to make substantial improvements to thousands of public housing units nationwide. The Public Housing Capital Funds being offered are provided through The American Recovery and Reinvestment Act of 2009 (Recovery Act) and are designed to help selected public housing authorities improve the quality of their housing stock, promote energy efficiency and create jobs...Public Housing Capital Funding will be awarded competitively through a Notice of Funding Availability (NOFA) that can be accessed on HUD's Recovery Act website."
CDC/National Center for Health Statistics, Changing Patterns of Nonmarital Childbearing in the United States, May 2009
News release: "The Department of Justice’s Antitrust Division today announced the details of its newly formed initiative aimed at preparing government officials and contractors to recognize and report efforts by parties to unlawfully profit from the stimulus projects that are being awarded as part of The American Recovery and Reinvestment Act of 2009. Consistent with its mission to protect the welfare of the American economy by promoting open and fair competition, the Department’s Antitrust Division launched an initiative to help government agencies insulate procurement, grant and program funding processes from collusion and fraud, as well as to ensure that those who abuse those processes are prosecuted to the fullest extent of the law...The Antitrust Division’s Recovery Initiative involves training procurement and grant officials, government contractors, and agency auditors and investigators, on techniques for identifying the "red flags of collusion" before stimulus awards are made and taxpayer money is unnecessarily wasted. The initiative makes available to agencies Antitrust Division competition experts who can evaluate procurement and program funding processes. These Division experts will make recommendations on "best practices" that may be adopted by the agencies to further protect processes from fraud, waste and abuse and maximize open and fair competition. Finally, the initiative commits the Antitrust Division to playing a significant role in assisting agencies investigate and prosecute those who seek to or succeed in defrauding the government’s efforts to maximize competition for stimulus funds."
March Airline On-Time Performance Higher Than Last Year, Down from February (05/12/09)
News release: "The Center for Democracy & Technology (CDT) and the Electronic Frontier Foundation (EFF) today released a report examining the use of analytics tools on federal agency Web sites. The report analyzes existing policy and makes recommendations for how federal agency Web sites can use analytics – a useful tool in developing open government strategies – while protecting citizen privacy...Recommendations for federal agencies include crafting robust policies to ensure that data collected for measurement purposes is adequately protected and updating current federal policy on persistent tracking technologies, such as cookies. Current federal policy requires, among other things, that the agency head authorize each use of these technologies. This has resulted in a near prohibition of persistent tracking technologies. While the policy should remain extremely protective of privacy, it should also allow federal agencies to take advantage of advances in Web technology."
White House Council on Economic Advisers, Estimates of Job Creation from the American Recovery and Reinvestment Act of 2009, May 2009: "The American Recovery and Reinvestment Act (ARRA) was designed to save and create jobs, as well as to cushion the economic downturn and make crucial public investments. At the time of passage, the Council of Economic Advisers (CEA) made estimates of the employment effects of the Act for the economy as a whole. As the money is being distributed by the various agencies, there is interest in estimates of the likely jobs effects of the individual pieces. Of course, as projects swing into action, the government will gather actual data on reported job creation. This report describes the estimating procedures used so far; specifies procedures to be used by recipients for estimating job creation going forward; discusses reporting requirements for job creation; and describes the procedures the CEA will use to evaluate the job creation and retention benefits of the ARRA going forward."
News release: "As part of the Administration's effort to develop a budget that invests in our nation's future, the U.S. Treasury Department today released the General Explanations of the Administration's Fiscal Year 2010 Revenue Proposals (Greenbook) to provide details of plans to cut taxes for small businesses and middle class families and close unfair corporate tax loopholes. The plan includes $736 billion in tax cuts for working families over the next ten years and provides almost $100 billion in tax cuts for businesses, providing support to the entrepreneurs who will help drive an economic recovery. The plan also promotes fairness and fiscal responsibility by closing hundreds of billions in loopholes, including $36 billion in tax breaks for oil companies and the $86.5 billion "check-the-box" loophole which allows U.S. companies that invest overseas to shift income to tax havens."
Special Inspector General for Iraq Reconstruction Quarterly Report to the United States Congress, April 30, 2009 - (Public Law 108-106, as amended, and Public Law 95-452)
News release: "The Federal Trade Commission has charged a home mortgage lender and its owner with violating federal law by charging Hispanic consumers higher prices for mortgage loans than non-Hispanic white consumers – price disparities that cannot be explained by the applicants’ credit characteristics or underwriting risk. The FTC seeks to bar future violations and obtain redress for consumers...According to the FTC’s complaint, the defendants violated the Equal Credit Opportunity Act (ECOA) in pricing mortgage loans. They allegedly gave loan officers and branch managers wide discretion to charge, in addition to the risk-based price, “overages” through higher interest rates and higher up-front charges. The defendants allegedly paid loan officers a percentage of the overages as a commission and failed to monitor whether Hispanic consumers were paying higher overages than non-Hispanic white borrowers."
Follow up to GPO Access: Budget of the United States Government and The President’s 2010 Budget, from OMB: "Today, we released the final volumes of the President’s FY 2010 Budget. These volumes include the Summary Tables, which show aggregate budget projections for the next 10 years; Historical Tables, which offer a wealth of budget data over the last century; and Analytical Perspectives, which provides a detailed discussion of certain budget concepts and Administration policies."
"GovFresh is a live feed of official news from U.S. Government Twitter, YouTube, RSS, Facebook, Flickr accounts and more, all in one place."
A Borrower's Guide to an FDIC Insured Bank Failure, May 5, 2009 - "Information for the borrowers whose loans are acquired in the bank failure process."
09-P-0151 EPA Does Not Provide Oversight of Radon Testing Accuracy and Reliability, May 4, 2009
"EPA does not perform oversight of radon testing device accuracy or reliability. The 1988 Indoor Radon Abatement Act required that EPA establish proficiency programs for firms offering radon-related services, including testing and mitigation. EPA established and operated proficiency programs until 1998, when it disinvested in these programs. According to Agency representatives, EPA has neither the authority nor resources to ensure radon testing devices and testing laboratories are accurate and reliable. EPA asserts that it shares oversight responsibility with States and industry, including the two national proficiency programs operating under private auspices. However, without oversight, EPA cannot assure that radon testing devices provide accurate data on indoor radon risks or that radon testing laboratories accurately analyze and report radon results."
Fiscal Year 2010 Budget Documents
Employment Situation Summary, April 2009: "Nonfarm payroll employment continued to decline in April (-539,000), and the unemployment rate rose from 8.5 to 8.9 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Since the recession
began in December 2007, 5.7 million jobs have been lost. In April, job losses were large and widespread across nearly all major private-sector industries. Overall, private-sector employment fell by 611,000."
Opportunity.gov - New Educational Opportunities for Unemployed Workers: "Americans with more education and training have more secure jobs and higher earnings. With jobs hard to find, it may be a good time to consider going back to school. The President recently announced that unemployed workers receiving unemployment benefits may qualify for a special hand in paying for education and training. And aid can be significant: In particular, the Federal Pell Grant program can provide up to $5,350 for educational costs at community colleges, colleges and universities, and many trade and technical schools. This is only one example of several federal student aid programs available to assist unemployed workers."
White House news release: "The President’s 2010 Budget seeks to usher in a new era of responsibility – an era in which we not only do what we must to save and create new jobs and lift our economy out of recession, but in which we also lay a new foundation for long-term growth and prosperity. Making long overdue investments and reforms in education so that every child can compete in the global economy, undertaking health care reform so that we can control costs while boosting coverage and quality, and investing in renewable sources of energy so that we can reduce our dependence on foreign oil – these all are key pillars of this new foundation. Another is fiscal discipline. We cannot put our nation on a course for long-term growth with uncontrollable deficits and debt, and we no longer can afford to tolerate investments in programs that are outdated, duplicative, ineffective, or wasteful. That’s why the Budget includes a separate volume, Terminations, Reductions, and Savings. In this volume, the Administration identifies 121 terminations, reductions, or other areas of savings which will save nearly $17 billion next year alone. About half of the savings for next fiscal year are from defense programs, and half are from non-defense programs. This volume is a progress report on the President’s effort to have his Administration go through the budget line by line to identify which programs work and which do not."
The President’s Budget
News release: "The results of a comprehensive, forward-looking assessment of the financial conditions of the nation's 19 largest bank holding companies (BHCs) by the federal bank supervisory agencies were released on Thursday. The exercise--conducted by the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation--was conducted so that supervisors could determine the capital buffers sufficient for the 19 BHCs to withstand losses and sustain lending--even if the economic downturn is more severe than is currently anticipated. In a detailed summary of the results of the Supervisory Capital Assessment Program (SCAP), the supervisors identified the potential losses, resources available to absorb losses, and resulting capital buffer needed for the 19 participating BHCs. The SCAP is a complement to the Treasury's Capital Assistance Program (CAP), which makes capital available to financial institutions as a bridge to private capital in the future. Together, these programs play a critical role in ensuring that the U.S. banking sector will be in a position of strength."
Time: "At the new President's urging and by his example, the entire Federal Government [well, not really] has bounded into the world of social-networking. Twenty-five agencies now have YouTube channels. The Library of Congress has begun posting thousands of free historical photos on Flickr. In the past week alone, about 30 agencies, including the White House, have joined Facebook."
News release: "The Federal Trade Commission today told the U.S. House Subcommittee on Housing and Community Opportunity of the Committee on Financial Services that, with the rapid increase in mortgage delinquencies and foreclosures, the FTC has intensified its efforts to protect consumers from foreclosure rescue and loan modification scams. The FTC also recommended legislative and other remedies to enhance the agency’s effectiveness. Associate Director of the FTC’s Division of Financial Practices, Peggy Twohig, testified that the Commission has brought 11 cases targeting mortgage foreclosure rescue and loan modification scams in a little over one year, and is actively engaged in ongoing, non-public investigations."
News release: "During this period of extraordinary economic uncertainty, the U.S. federal banking supervisors believe it to be important for the largest U.S. bank holding companies (BHCs) to have a capital buffer sufficient to withstand losses and sustain lending even in a significantly more adverse economic environment than is currently anticipated. In keeping with this aim, the Federal Reserve and other federal bank supervisors have been engaged in a comprehensive capital assessment exercise--known as the Supervisory Capital Assessment Program (SCAP)--with each of the 19 largest U.S. BHCs...Under the SCAP, supervisors evaluated the extent to which each of the 19 BHCs would need to alter either the amount or the composition (or both) of its Tier 1 capital today to be able to comfortably exceed minimum regulatory requirements at year-end 2010, even under an more adverse economic scenario."
News release: "For the sixth year in a row, the Agency for Healthcare Research and Quality (AHRQ) has produced the National Healthcare Quality Report (NHQR) and the National Healthcare Disparities Report (NHDR). These reports measure trends in effectiveness of care, patient safety, timeliness of care, patient centeredness, and efficiency of care. The reports present, in chart form, the latest available findings on quality of and access to health care. The National Healthcare Quality Report tracks the health care system through quality measures, such as the percentage of heart attack patients who received recommended care when they reached the hospital or the percentage of children who received recommended vaccinations. The National Healthcare Disparities Report summarizes health care quality and access among various racial, ethnic, and income groups and other priority populations, such as children and older adults."
News release: "The U.S. Postal Service ended its second quarter (Jan 1 – March 31) with a net loss of $1.9 billion, as the economic recession and longer-term financial pressures, such as the diversion of letter mail to electronic alternatives, continued to reduce mail volume and revenue. Despite aggressive actions to reduce costs and grow revenue, the Postal Service will likely face a cash shortfall of over $1.5 billion at the end of the fiscal year. The Postal Service has incurred net losses from operations in 10 of the last 11 fiscal quarters. The year-to-date net loss is $2.3 billion, compared to a loss in the same period last year of $35 million. A significant portion of the losses over this period can be attributed to an unprecedented decline in mail volume. In the second quarter, mail volume totaled 43.8 billion pieces, down 7.5 billion pieces, or 14.7 percent, compared to a year ago.
Potential Impacts of Climate Change in the United States, May 2009
News release: "The Federal Trade Commission today testified on the Commission’s efforts to promote better security for sensitive consumer information and to prevent the inadvertent sharing of consumers’ personal or sensitive data over Peer-to-Peer Internet file-sharing networks. As part of these efforts, the agency also announced that it had reached an agreement with one of the largest privately held lenders in the United States to resolve charges that the company violated federal law by failing to provide reasonable security for consumers’ sensitive information. In testimony before the House Energy and Commerce Committee Subcommittee on Commerce, Trade and Consumer Protection, Acting Director of the Bureau of Consumer Protection Eileen Harrington said the agency strongly supports the goals of H.R. 2221, the Data Accountability and Trust Act, which 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 legislation also would give the Commission the authority to obtain civil penalties for violations."
News release: "The U.S. Environmental Protection Agency is proposing its strategy for increasing the supply of renewable fuels, poised to reach 36 billion gallons by 2022, as mandated by the Energy Independence and Security Act of 2007."
"Chairman Henry A. Waxman, Subcommittee Chairman Edward J. Markey, Chairman Emeritus John D. Dingell, Congresswoman Betty Sutton, Congressman Jay Inslee, and Congressman Bart Stupak reached an agreement on a "Cash for Clunkers" program that will help the auto industry while cleaning our air. This agreement is based on H.R. 1550 [Consumer Assistance to Recycle and Save Act of 2009], introduced by Congresswoman Sutton, and H.R. 520, introduced by Congressman Inslee."
"GPO is pleased to announce the re-launch of its agency Web site. This enhanced site includes separate Web pages for FDLP and LSCM information for the public. The new Web pages will help inform the public about and lead the public to Federal depository libraries. The redesigned site includes links to FDsys, GPO Access, the Catalog of U.S. Government Publications, the Federal Depository Library Directory, The FDLP Desktop, Ben's Guide, and more, as well as Web pages for each of the agency's departments."
Chairman Ben S. Bernanke, The economic outlook - Before the Joint Economic Committee, U.S. Congress, Washington, D.C., May 5, 2009
EPA OIG: "EPA does not perform oversight of radon testing device accuracy or reliability. The 1988 Indoor Radon Abatement Act required that EPA establish proficiency programs for firms offering radon-related services, including testing and mitigation. EPA established and operated proficiency programs until 1998, when it disinvested in these programs. According to Agency representatives, EPA has neither the authority nor resources to ensure radon testing devices and testing laboratories are accurate and reliable. EPA asserts that it shares oversight responsibility with States and industry, including the two national proficiency programs operating under private auspices. However, without oversight, EPA cannot assure that radon testing devices provide accurate data on indoor radon risks or that radon testing laboratories accurately analyze and report radon results." At a Glance | Report
EPA Lifecycle Analysis of Greenhouse Gas Emissions from Renewable Fuels, EPA-420-F-09-024, May 2009
The April 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices: Current survey | Full report |
Table 1 | Table 2 | Chart data | Table 1 | Table 2 | Charts
News release: "In a video posted on her website this morning, Viviane Reding, EU Commissioner for Information Society and Media, called for greater transparency and accountability in Internet Governance as of October 2009. Key decisions related to Internet Governance, like top level domains and managing the internet's core directory, are currently made by the Internet Corporation for Assigned Names and Numbers (ICANN), a private not-for profit corporation established in California. So far, ICANN has been operating under an agreement with the US Department of Commerce. However, this agreement expires on 30 September this year. For the time after, Commissioner Reding today outlined a new governance model for the internet. This would include a fully private and accountable ICANN, accompanied by an independent judicial body, as well as a "G12 for Internet Governance" – a multilateral forum for governments to discuss general internet governance policy and security issues."
News release: "Today, President Obama and Secretary Geithner are unveiling two components [Fact Sheet and Backgrounder] of the Administration's plan to reform our international tax laws and improve their enforcement. First, they are calling for reforms to ensure that our tax code does not stack the deck against job creation here on our shores. Second, they seek to reduce the amount of taxes lost to tax havens – either through unintended loopholes that allow companies to legally avoid paying billions in taxes, or through the illegal use of hidden accounts by well-off individuals. Combined with further international tax reforms that will be unveiled in the Administration's full budget later in May, these initiatives would raise $210 billion over the next 10 years. The Obama Administration hopes to build on proposals by Senate Finance Committee Chairman Max Baucus and House Ways and Means Chairman Charles Rangel – as well as other leaders on this issue like Senator Carl Levin and Congressman Lloyd Doggett – to pass bipartisan legislation over the coming months."
News release: "In the Commission's spring forecast, GDP in the European Union is projected to fall by 4% this year and to broadly stabilise in 2010. The main factors behind the recession are the worsening of the global financial crisis, a sharp contraction in world trade and ongoing housing market corrections in some economies. However, with the impact of fiscal and monetary stimulus measures kicking in, growth is expected to regain some momentum in the course of 2010. Labour markets will be severely affected, with the unemployment rate expected to increase to 11% in the EU in 2010. The public deficit is also projected to rise sharply, to 7¼% of GDP in 2010, reflecting both the slowdown and the discretionary measures taken to support the economy, in line with the European Recovery Plan proposed by the Commission....A more detailed report is available here."
National Science Foundation - Solving the Puzzle: Researching the Impacts of Climate Change Around the World, released May 1, 2009.
A Tradecraft Primer: Structured Analytic Techniques for Improving Intelligence Analysis, Prepared by the US Government, March 2009
National Counterterrorism Center 2008 Report on Terrorism, 30 April 2009
Australian Government, Department of Defense White Paper: Defending Australia in the Asia Pacific Century: Force 2030, May 2, 2009.
Update to May 1, 2009 posting - White House Website Adds Links to FaceBook, Twitter, MySpace - the Official White House Photostream on Flickr
American Customer Satisfaction Index E-Government (ACSI) Satisfaction Index Q1 2009 - April 28, 2009 - by Larry Freed, ForeSee Results: "Citizen satisfaction with e-government websites dropped more than half a point since last quarter, down to 73.6 on the study’s 100-point scale. The aggregate score has been dragged down in large part by declining satisfaction with program sites. Sky-high expectations for the new administration may also be a factor."
"The Congressional Record Daily Digest is now available as the first RSS feed from THOMAS. The Daily Digest from THOMAS is one of five RSS feeds available from the Law Library of Congress as described on our RSS Feeds and Email Delivery http://www.loc.gov/law/news/rss.php page. To see a complete list of RSS feeds and email updates available through the Library of Congress, please visit Library of Congress RSS Feeds and Email Subscriptions. For help with subscribing and suggestions for news readers, please see Library of Congress RSS Feeds http://www.loc.gov/rss/faq.html." [Emily Carr, Legal Reference Specialist, Law Library of Congress]
News release: "A new landmark study published [May 1, 2009] documents for the first time the process in which increased mercury emissions from human sources across the globe, and in particular from Asia, make their way into the North Pacific Ocean and as a result contaminate tuna and other seafood. Because much of the mercury that enters the North Pacific comes from the atmosphere, scientists have predicted an additional 50 percent increase in mercury in the Pacific by 2050 if mercury emission rates continue as projected."
News release: "This survey provides quarterly summary data on assets, revenue and expenditure of the largest public-employee retirement systems in the United States, which comprise about 85 percent of national activity among such entities. It provides the most current data about investment decisions by public employee retirement systems, which are among the largest types of institutional investors in the U.S. financial markets. These reports are published three months after each calendar quarter, and show national financial transactions and trends for the past five years."
Follow up to related postings on swine flu, news that CABI has "announced free access to its specialist Global Health database, the definitive database for public health information, to assist in the battle against swine flu."
"On Tuesday, April 28, the Senate overwhelmingly passed anti-fraud legislation that was reported earlier this year by the Senate Judiciary Committee. The Fraud Enforcement and Recovery Act was introduced on February 5 by Committee Members Patrick Leahy (D-Vt.), Chuck Grassley (R-Iowa), and Ted Kaufman (D-Del.). On February 11, the Committee held a hearing to consider the legislation. The Fraud Enforcement and Recovery Act was reported by the Committee on March 5. The Fraud Enforcement and Recovery Act of 2009 is also cosponsored by Committee Members Arlen Specter (R-Pa.), Charles Schumer (D-N.Y.), Richard Durbin (D-Ill.), Ben Cardin (D-Md.), Sheldon Whitehouse (D-R.I.), and Amy Klobuchar (D-Minn.). In total, nearly 30 senators have cosponsored the legislation."
News release: "The U.S. Food and Drug Administration and the Federal Trade Commission are alerting the public to be wary of Internet sites and other promotions for products that claim to diagnose, prevent, mitigate, treat or cure the 2009 H1N1 influenza virus. The agencies are also advising operators of offending Web sites that they must take prompt action to correct and/or remove promotions of these fraudulent products or face enforcement action."
The White House homepage (scroll to the very bottom, on the right hand side) now includes links to social networking sites Facebook, Twitter, Flickr, MySpace, as well as to YouTube, Vimeo and iTunes.
White House: "A lot of people were taking stock today of the change that the President has so far. But throughout the federal government change has been unfolding at the agency level in thousands of ways you have likely never even heard about. Take a look at the agency reports for whatever issues you are most interested in:
News release: "Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company. It will allow Chrysler and Fiat to fully optimize their respective manufacturing footprints and the global supplier base, while providing each with access to additional markets. Fiat powertrains and components will also be produced at Chrysler manufacturing sites."
"The Subcommittee on Health held a hearing titled, Swine Flu Outbreak and the U.S. Federal Response, on Thursday, April 30, 2009. The hearing examined the recent outbreak of swine flu and the next steps for a federal response at the Department of Health and Human Services.
Via Pia Christensen, Managing Editor/Online Services, Association of Health Care Journalists: "the Association has constantly updated resources about covering flu, pandemics and public health preparedness. We have detailed tip sheets, speaker presentations about pandemics, animal-borne diseases, emergency preparedness and public health, inks to press briefings, hearings and news conferences..."
Public Papers of the Presidents of the United States: George W. Bush
News release: "Today, Treasury Secretary Tim Geithner, joined by Congresswoman Carolyn Maloney, met with consumer groups, civil rights leaders and credit card consumers to discuss the national need for credit card reform. The discussion centered on the House Bill, Credit Card Holders Bill of Rights of 2009, (HR 627) which is set for a vote tomorrow and would significantly strengthen consumer protections in the credit card market."
News release: "Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.1 percent in the first quarter of 2009, (that is, from the fourth quarter to the first quarter), according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent. The Bureau emphasized that the first-quarter “advance” estimates are based on source data that are incomplete or subject to further revision by the source agency. The first-quarter “preliminary” estimates, based on more comprehensive data, will be released on May 29, 2009. The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, private inventory investment, equipment and software, nonresidential structures, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased."
"President Obama has pledged to take a different approach. Upon taking office, he heralded a "new era of openness" in which "this administration stands on the side not of those who seek to withhold information, but those who seek to make it known." His commitment to transparency is heartening—but promises and action are two different things. If we are to protect our national security and our liberties, we must hold President Obama to his commitment: we must periodically take stock of his administration's performance, acknowledge and commend those actions that enhance government transparency, and insist on a correction of course when transparency is diminished. This report card is an effort to do just that."
State Department, Washington, DC, April 27, 2009: "On March 31, U.S. Secretary of State Hillary Rodham Clinton and U.S. Permanent Representative to the UN Ambassador Susan Rice announced that the United States will seek a seat this year on the United Nations Human Rights Council with the goal of working to make it a more effective body to promote and protect human rights. As part of the process that will culminate in elections on May 12, each candidate country is asked to produce a pledge outlining its commitment to promoting human rights. This information is circulated among countries and posted on the UN Human Rights Council website. The United States has produced its pledge - Human Rights Commitments and Pledges of the United States of America, which can be read in its entirety here."
By Dan Mitchel, California State Library, this resource guide to selected reliable sources for tracking the global status of the swine flu:
News release: "With the NYCStat Stimulus Tracker, New Yorkers can track the City’s use of federal stimulus/recovery funds provided through the American Recovery and Reinvestment Act of 2009 (ARRA). This funding includes federal tax cuts, expansion of unemployment benefits and other social welfare provisions, and domestic spending in education, health care, energy efficiency and infrastructure. The stimulus money for New York City will be used to ensure continued vital City services, provide assistance to New Yorkers in need, and stimulate the City’s economy."
Milken Institute Global Conference, April 2009, Presentation by CBO Director Douglas Elmendorf
News release: "The Obama Administration today announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes."
News release: "In anticipation of President Obama’s 100th day in office, U.S. Senator Russ Feingold today released a "100 Day Rule of Law Report" to examine the new administration’s efforts to reverse the Bush administration’s eight year assault on the rule of law. Feingold assessed the steps the Obama administration has taken thus far to address recommendations made by forty organizations and experts in connection with a Senate Constitution Subcommittee hearing chaired by Feingold on September 16, 2008, entitled Restoring the Rule of Law. President Obama received high marks for several actions he has taken in his first 100 days in office, including his executive orders to close the facility at Guantanamo Bay, ban torture and increase transparency. However, Feingold’s review finds the Obama administration’s invoking of the state secrets privilege “troubling.”
Federal Computer Week: "The Obama administration wants a “context-driven government” with services accessible through people's regular daily activities that involve information technology, according to the administration’s top IT officer."
"In a recent poll by NationalJournal.com, new media experts from across the political spectrum gave WhiteHouse.gov an average grade of C+. (See report card by scrolling down on this page.) Although they mostly saw the site as an improvement from the previous administration's, many noted that it remained a one-way forum and suggested it be opened to allow comments and make greater use of the Open for Questions feature."
April 27, 2009, Texas Manufacturing Slump Moderates, Six-Month Outlook Improves: The decline in Texas manufacturing activity slowed in April, according to the Texas Manufacturing Outlook Survey. Indexes for production, capacity utilization, volume of new orders and shipments edged upward for the second consecutive month, but they remained negative, indicating manufacturers are still retrenching. For the most part, the gains reflect fewer companies seeing declines in these measures, not more firms reporting recoveries. Although still negative, the business activity index—the survey’s broadest measure of state manufacturing trends—saw improvement as the share of companies reporting better market conditions rose from March to April. The company outlook index strengthened, recovering the ground lost since September. Manufacturers continued to draw down inventories. The index for materials inventories remained close to the previous month’s record low, and over a third of those responding noted declines in their finished goods inventory levels."
Follow up to previous postings on swine flu, see the CDC Swine Influenza (Flu) Portal
Auto Industry: Summary of Government Efforts and Automakers' Restructuring to Date, GAO-09-553, April 23, 2009: "The turmoil in financial markets and the economic downturn has brought significant financial stress to the auto manufacturing industry. The economic reach of the auto industry in the United States is broad, affecting autoworkers, auto suppliers, stock and bondholders, dealers, and certain states. To help stabilize the U.S. auto industry and avoid disruptions that could pose systemic risk to the nation's economy, in December 2008 the Department of the Treasury established the Automotive Industry Financing Program (AIFP) under the Troubled Asset Relief Program (TARP). From December 2008 through March 2009, Treasury has allocated about $36 billion to this program, including loans to Chrysler Holding LLC (Chrysler) and General Motors (GM). GAO has previously identified three principles to guide federal assistance to large firms: define the problem, determine the national interests and set goals and objectives, and protect the government's interests. As part of GAO's statutorily mandated responsibilities to provide timely oversight of TARP activities, this report discusses the (1) nature and purpose of assistance to the auto industry, (2) how the assistance addresses the three principles, and (3) important factors for Chrysler and GM to address in achieving long-term viability and the challenges that they face to become viable. To address these objectives, GAO reviewed Chrysler's and GM's restructuring plans and financial statements, as well as Treasury documents related to AIFP. GAO also reviewed the terms and conditions of the federal loans to identify risks to the government and compared these loan provisions to GAO's principles for providing federal financial assistance to large firms."
Key Facts about Swine Influenza (Swine Flu): "Swine Influenza (swine flu) is a respiratory disease of pigs caused by type A influenza virus that regularly causes outbreaks of influenza in pigs. Swine flu viruses cause high levels of illness and low death rates in pigs. Swine influenza viruses may circulate among swine throughout the year, but most outbreaks occur during the late fall and winter months similar to outbreaks in humans. The classical swine flu virus (an influenza type A H1N1 virus) was first isolated from a pig in 1930."
Background Paper: How CBO Estimates the Costs of Reducing Greenhouse-Gas Emissions, April 2009
News release: "he Financial Stability Oversight Board (Oversight Board) today issued its second quarterly report to Congress on the Emergency Economic Stabilization Act (EESA). The report covers the period January 1 to March 31, 2009. The report highlights the oversight activities of the Oversight Board during the quarterly period. It also presents the Oversight Board's evaluation of the effects thus far of the policies and programs implemented by Treasury (Treasury) under the Troubled Assets 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 quarterly period."
WSJ: The government confirmed the following list of the 19 banks undergoing stress tests.
Federal Reserve Board: "A white paper describing the process and methodologies employed by the federal banking supervisory agencies in their forward-looking capital assessment of large U.S. bank holding companies was published on Friday. The white paper is intended to assist analysts and other interested members of the public in understanding the results of the Supervisory Capital Assessment Program, expected to be released in early May. All U.S. bank holding companies with year-end 2008 assets exceeding $100 billion were required to participate in the assessment, which began February 25. These institutions collectively hold two-thirds of the assets and more than half the loans in the U.S. banking system."
News release: "The Federal Reserve System on [April 23, 2009] published the annual financial statements for the combined Federal Reserve Banks, the 12 individual Federal Reserve Banks, the limited liability companies (LLCs) that were created in 2008 to respond to strains in financial markets, and the Board of Governors for the years ended December 31, 2008 and 2007."
News release: " Employers took 2,933 mass layoff actions in March that resulted in the separation of 299,388 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Each action involved at least 50 persons from a single employer. The number of mass layoff events in March increased by 164 from the prior month, while the number of associated initial claims increased by 3,911. Over the year, the number of mass layoff events increased by 1,348, and the number of associated initial claims increased by 137,891. In March, the manufacturing sector experienced 1,259 mass layoff events,
seasonally adjusted, resulting in 155,909 initial claims. Over the month, mass layoff events in manufacturing increased by 24, and initial claims increased by 3,291. Layoff events and initial claims rose to their highest levels on record, with data available back to 1995 [emphasis added]; events in the manufacturing sector also reached its highest level."
Public Printer of the United States: "I am pleased to announce the launch of FDsys, GPO's new Federal Digital System, an innovative tool to enable Americans and people worldwide to search and access the documents of the U.S. government. FDsys is an one-stop site on which to find current, authentic, published information from all three branches of the U.S. government. I am especially pleased with our new Daily Compilation of Presidential Documents, which includes releases from the White House Press Office and remarks made by the President. FDsys also offers search capabilities to find documents released by Members of Congress and Congressional Committees, using only keyword and date information."
News release: "The Federal Reserve Board, the Office of Thrift Supervision, and the National Credit Union Administration today proposed clarifications to aspects of their December 2008 final rules under the Federal Trade Commission Act (FTC Act) prohibiting certain unfair credit card practices. The Federal Reserve Board also proposed clarifications to its December 2008 final rule under the Truth in Lending Act (TILA) amending Regulation Z to improve the disclosures consumers receive in connection with credit card accounts and other revolving credit plans."
News release: "Today, in an Earth Day speech at a wind turbine tower manufacturing plant, President Barack Obama announced that the Department of the Interior has finalized a long-awaited framework for renewable energy production on the U.S. Outer Continental Shelf (OCS). The framework establishes a program to grant leases, easements, and rights-of-way for orderly, safe, and environmentally responsible renewable energy development activities, such as the siting and construction of off-shore wind farms, on the OCS...In addition to establishing a process for granting leases, easements, and rights-of-way for offshore renewable energy development, the new program also establishes methods for sharing revenues generated from OCS renewable energy projects with adjacent coastal States. Additionally the framework will enhance partnerships with Federal, state, and local agencies and tribal governments to assist in maximizing the economic and ecological benefits of OCS renewable energy development. The Final Framework has been submitted to the Federal Register, and is available online."
Prepared by the Staff of the Joint Committee on Taxation: Tax Expenditures for Energy Production and Conservation, Scheduled for a Public Hearing Before the Senate Committee on Finance, April 23, 2009.
The 2009 Economic Landscape: How the Recession Is Unfolding across Four U.S. Regions
Press notice: "The Government’s economic objective is to build a strong economy and a fair society, where there is opportunity and security for all. Budget 2009, Building’s Britain’s Future, presents updated assessments and forecasts of the economy and public finances and reports on how in the face of a steep and synchronised global downturn, the Government is delivering a comprehensive and coherent package of targeted support to continue to help households and businesses, while implementing a strategy to support a strong and sustainable recovery. Building on the strategy set out at the 2008 Pre-Budget Report, the Budget announces targeted discretionary support for the economy through these difficult times, while continuing sustained fiscal consolidation from 2010-11 when the economy is expected to be recovering and able to support a reduction in borrowing...
When Did Your County's Jobs Disappear? An interactive map of vanishing employment across the country, by Chris Wilson
FOIA Facts: DOJ AG Issues New Guidelines Establishing a System for Improving Transparency: Scott A. Hodes highlights the areas of this new DOJ guidance that are of the most interest to the FOIA community.
Indicators of School Crime and Safety: 2008, 4/09. "Presents data on crime and safety at school from the perspectives of students, teachers, principals, and the general population. A joint effort by the Bureau of Justice Statistics and the National Center for Education Statistics, this annual report examines crime occurring in school as well as on the way to and from school."
"This Consumer Advisory, issued by the Office of the Comptroller of the Currency (OCC), describes common scams, suggests ways to protect yourself, provides information on U.S. government loan programs and counseling resources, and lists 10 warning signs of a mortgage modification scam."
Unclassified and Redacted - Inquiry Into the Treatment Of Detainees In U.S. Custody, November 20, 2008 (Released, April 22, 2009) (263 pages, PDF)
The Special Inspector General for the Troubled Asset Relief Program, April 21, 2009 - Quarterly Report to Congress: "The Troubled Asset Relief Program (“TARP”) now includes 12 separate, but often interrelated, programs involving Government and private funds of up to almost $3 trillion — roughly the equivalent of last year’s entire Federal budget. From programs involving large capital infusions into hundreds of banks and other financial institutions, to a mortgage modification program designed to modify millions of mortgages, to public private partnerships purchasing “toxic” assets from banks using tremendous leverage provided by Government loans or guarantees, TARP has evolved into a program of unprecedented scope, scale, and complexity. Before the American people and their representatives in Congress can meaningfully evaluate the effectiveness of this historic program, that scope and scale must be placed into proper context, and the complexity must be made understandable. That is what this report attempts to do.
In this report, the Offi ce of the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) endeavors to (i) explain the various TARP programs and how the Department of the Treasury (“Treasury”) has used those programs through March 31, 2009, (ii) describe what SIGTARP has done since its Initial Report to Congress, dated February 6, 2009 (the “Initial Report”), to oversee this historic program with respect to both audits and investigations, and (iii) set forth a series of recommendations for the operation of TARP."
News release: "State Labor Commissioner M. Patricia Smith announced today that additional transportation assistance for unemployed workers will be made available in 20 non-rural counties in New York State. Each Workforce Investment Board in these counties will receive $6,250 that may be used to help pay transportation expenses for unemployed workers to access services at One-Stop Career Centers, apply for jobs, attend interviews and receive training. The money comes from federal funds allocated to New York State under the Workforce Investment Act, and may be used for the purchase of gas cards, swiper cards, or reimbursement of mileage or public transportation expenses. Each local Workforce Investment Board decides what transportation assistance is best for its area, and how the program will be administered. Assistance will be available within the next two weeks and will run until June 30, 2009, except in the five boroughs of New York City, where the program will begin around May 15th."
News release: "President Obama [held] the first cabinet meeting of his Administration this morning. As part of his commitment to go line by line through the budget to cut spending and reform government he... challenge[d] his cabinet to cut a collective 100 million dollars in the next 90 days. Agencies will be required to report back with their savings at the end of 90 days....examples of some of the cost cutting measures agencies have begun to implement..."
News release: "On April 17, 2009, HHS issued guidance specifying the technologies and methodologies that render protected health information unusable, unreadable, or indecipherable to unauthorized individuals, as required by the Health Information Technology for Economic and Clinical Health (HITECH) Act passed as part of the American Recovery and Reinvestment Act of 2009 (ARRA). This guidance was developed through a joint effort by OCR, the Office of the National Coordinator for Health Information Technology (ONC), and the Centers for Medicare and Medicaid Services (CMS)."
News release: "[April 17, 2009] the Senate Energy and Natural Resources Committee posted to its website a joint discussion draft and summary for the “21st Century Energy Technology Deployment Act.” {CEDA] This proposal, put forward by the bipartisan Committee staff, seeks to improve the loan guarantee program at the Department of Energy and to provide additional options for deploying energy technologies. The basis of the bill is to shore up the existing program at DOE, then transition to a new financially-focused agency to perform and expand upon the duties of the program."
Via NPR - Marketplace: "U.S. manufacturers, including major drugmakers, have legally released at least 271 million pounds of pharmaceuticals into waterways that often provide drinking water _ contamination the federal government has consistently overlooked, according to an Associated Press investigation." See also: "graphic shows location of codeine-producing factories near area where a water sample taken from the Delaware River/AP."
DOJ Office of Information Policy FOIA Post - Creating a New Era of Open Government: "On his first full day in office, January 21, 2009, President Obama issued a memorandum to the heads of all departments and agencies on the Freedom of Information Act (FOIA). The President directed that FOIA "should be administered with a clear presumption: In the face of doubt, openness prevails."...The President directed the Attorney General to issue FOIA Guidelines for the heads of executive departments and agencies "reaffirming the commitment to accountability and transparency." On March 19, 2009, during Sunshine Week, Attorney General Eric Holder issued those Guidelines. The Attorney General highlighted that the FOIA "reflects our nation’s fundamental commitment to open government" and that his Guidelines are "meant to underscore that commitment and to ensure that it is realized in practice."...The FOIA Guidelines stress that the FOIA is to be administered with the presumption of openness called for by the President. This presumption means that information should not be withheld "simply because [an agency] may do so legally." Moreover, the Attorney General has directed that whenever full disclosure of a record is not possible, agencies "must consider whether [they] can make partial disclosure." The Attorney General also "strongly encourage[s] agencies to make discretionary disclosures of information."
Staff Report - Financing the Dream: Securing College Affordability for the Middle Class
F.B.I. and States Vastly Expand DNA Databases, by Solomon Moore: "Law enforcement officials are vastly expanding their collection of DNA to include millions more people who have been arrested or detained but not yet convicted. The move, intended to help solve more crimes, is raising concerns about the privacy of petty offenders and people who are presumed innocent. Until now, the federal government genetically tracked only convicts. But starting this month, the Federal Bureau of Investigation will join 15 states that collect DNA samples from those awaiting trial and will also collect DNA from detained immigrants — the vanguard of a growing class of genetic registrants. the F.B.I., with a DNA database of 6.7 million profiles, expects to accelerate its rate of growth from 80,000 new entries a year to 1.2 million by 2012 — a 17-fold increase. F.B.I. officials say they expect DNA processing backlogs — which now stand at more than 500,000 cases — to increase."
Weekly Address Transcript: "...I will ask all of my department and agency heads for specific proposals for cutting their budgets. Already, members of my Cabinet have begun to trim back unnecessary expenditures...in the coming weeks, I will be announcing the elimination of dozens of government programs shown to be wasteful or ineffective. In this effort, there will be no sacred cows, and no pet projects. All across America, families are making hard choices, and it’s time their government did the same."
News release: "Carrying a credit card balance can be expensive for consumers, especially for those who make only minimum monthly payments. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that consumers be provided with toll-free telephone numbers[1-888-600-4804)] to call for an estimate of how long it will take to pay off their credit card balance, if they make minimum payments. To obtain appropriate information, consumers should call the telephone number for pay-off information that will be on their credit card billing statement. Large banks and the Federal Reserve Board (FRB) will be providing consumers with telephone numbers to call for pay-off information for bank-issued cards. Banks issue nearly all credit cards, including co-branded cards that have the name of an airline or a retailer."
News release: "After a thorough scientific review ordered in 2007 by the U.S. Supreme Court [Massachusetts v. EPA, 549 U.S. 497], the Environmental Protection Agency issued a proposed finding Friday that greenhouse gases contribute to air pollution that may endanger public health or welfare...EPA’s proposed endangerment finding is based on rigorous, peer-reviewed scientific analysis of six gases – carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulfur hexafluoride – that have been the subject of intensive analysis by scientists around the world. The science clearly shows that concentrations of these gases are at unprecedented levels as a result of human emissions, and these high levels are very likely the cause of the increase in average temperatures and other changes in our climate."
U.S. Government Printing Office Style Manual: "By act of Congress the Public Printer of the U.S. Government Printing Office is authorized to determine the form and style of Government printing. The Style Manual is the product of many years of public printing experience, and its rules are based on principles of good usage and custom in the printing trade. Essentially, the Style Manual is a standardization device designed to achieve uniform word and type treatment, and aiming for economy of word use. The Style Manual has served Federal printers since 1894, and with each new edition, the traditions of printing and graphic arts are carried forward into new technologies."
News release: "The U.S. Environmental Protection Agency has released a report on the potential impacts of climate change on regional U.S. air quality. The information contained in the report will enhance our ability as a nation to protect air quality and human health. The report, Assessment of the Impacts of Global Change on Regional U.S. Air Quality: A Synthesis of Climate Change Impacts on Ground-Level Ozone, concludes that there is a potential for climate change to make ozone pollution worse in some regions and that future ozone management decisions may need to account for the possible impacts of climate change."
FACT SHEET: US-Mexico Discuss New Approach to Bilateral Relationship: "On April 16, President Obama made his first trip to Mexico and his first to Latin America to highlight and reinforce the United States’ commitment to work with Mexico on a broad range of issues, in particular on meeting our shared security challenges. The United States and Mexico are committed to a new approach in our bilateral relationship based on comprehensive engagement and shared responsibility. The President discussed with President Calderon a number of important steps the United States intends to take to deepen the cooperation we have with Mexico as our neighbor and partner."
"Today the FBI released bank crime statistics for the fourth quarter of calendar year 2008. Between October 1, 2008 and December 31, 2008, there were 1,617 robberies of financial institutions, as well as 25 burglaries and three larcenies. This represents 1,645 reported violations of the Federal Bank Robbery and Incidental Crimes Statute, an increase from the third quarter’s total of 1,376."
Federal Railroad Administration: "President Obama proposes to help address the nation's transportation challenges by launching a new and efficient high-speed passenger rail network in 100-600 mile corridors that connect communities across America. The Strategic Plan outlines the President’s vision that would transform the nation’s transportation system by rebuilding existing rail infrastructure while developing a comprehensive high-speed intercity passenger rail network through a long-term commitment at both the federal and state levels. This plan draws from the successful highway and aviation development models with a 21st century solution that focuses on clean, energy-efficient rail transportation.
High-speed rail (HSR) is a family of transportation options that address longer-distance passenger transport needs in heavily populated corridors. Implementing HSR will promote economic expansion (including new manufacturing jobs), create new choices for travelers in addition to flying or driving, reduce national dependence on oil, and foster urban and rural livable communities. With the successful completion of the original phases of the Northeast Corridor (NEC) Transportation Project offering Amtrak's 150 mph train service, known as “Acela,” between Washington, New York, and Boston, efforts have expanded beyond the NEC. A number of high-speed rail corridors are being planned by States that range from upgrades to existing rail lines to entirely new rail lines exclusively devoted to 150 to 250 mph trains.
The Budgetary Implications of NASA’s Current Plans for Space Exploration, April 2009
"This Semi-Annual Report to Congress on International Economic and Exchange Rate Policies finds that the ongoing crisis is having substantial negative effects on the performance of every economy assessed. Economic growth rates have plummeted and for many economies, growth has turned negative. Exchange rates have come under sharp downward pressure, especially in emerging market economies, as the crisis has intensified. Net cross-border flows for many emerging markets have slowed or reversed as investor risk appetite has shrunk and “home bias” has ostensibly increased. Meanwhile, capital inflows in the United States, especially into Treasury bonds and bills, have been robust. In virtually all economies, credit spreads for private borrowers widened sharply and, although they have come down, spreads still remain elevated in many of the economies in this Report. Plunging exports, especially in highly export-oriented economies, and falling commodity prices have lessened the severity of global imbalances. Most economies in the Report are responding to the crisis with aggressive actions to restore economic growth and achieve financial stability."
"Some 74% of internet users--representing 55% of the entire adult population--went online in 2008 to get involved in the political process or to get news and information about the election. This marks the first time that a Pew Internet & American Life Project survey has found that more than half of the voting-age population used the internet to get involved in the political process during an election year. Several online activities rose to prominence in 2008. In particular, Americans were eager to share their views on the race with others and to take part in the online debate on social media sites such as blogs and social networking sites."
April 15, 2009 - Summary of Commentary on Current Economic Conditions by Federal Reserve District
"Despite reforms enacted by Congress and an order from the last administration to do a better job, federal agencies continue to give those seeking information a frustrating and oftentimes unsatisfying experience, an analysis of federal agency FOIA reports shows. Backlogs persist despite fewer FOIA requests, agencies continue to miss the statutory response deadline in a majority of cases, and agencies said they rejected a highest percentage of requests since performance reporting began, according a quantitative review by the Sunshine in Government Initiative of federal agency FOIA reports."
Foreclosure Rescue Scams: How to Avoid Becoming a Victim
White House Fact Sheet - Reaching Out to the Cuban People: "Today, the Obama administration announced a series of changes in U.S. policy to reach out to the Cuban people in support of their desire to freely determine their country’s future. In taking these steps to help bridge the gap among divided Cuban families and promote the freer flow of information and humanitarian items to the Cuban people, President Obama is working to fulfill the goals he identified both during his presidential campaign and since taking office. All who embrace core democratic values long for a Cuba that respects basic human, political and economic rights of all its citizens. President Obama believes these measures will help make that goal a reality."
News release: "The U.S. Environmental Protection Agency is adding nine new hazardous waste sites that pose risks to human health and the environment to the National Priorities List of Superfund sites. Also, EPA is proposing to add 13 other sites to the list. Superfund is the federal program that investigates and cleans up the most complex, uncontrolled or abandoned hazardous waste sites in the country. To date, there have been 1,596 sites listed on the NPL. Of these sites, 332 sites have been deleted resulting in 1,264 final sites currently on the NPL. With the proposal of the 13 new sites, there are 67 proposed sites awaiting final agency action: 62 in the general Superfund section and five in the federal facilities section. There are a total of 1,331 final and proposed sites."
News release: "Presents the number of persons on probation and parole at yearend 2007, by state, with percent changes in each state during the year. The statistical tables provide state-level probation and parole supervision rates and entries and exits. National and state-level data on parole re-incarceration rates are presented. Tables provide the total community supervision population, which includes offenders on probation or parole, in the U.S. for yearend 2000 through 2007. Data are presented on offenders supervised in the community as a percentage of the total correctional population, which includes offenders in prison or jail or on probation or parole. The tables also describe the national-level composition of these populations by race, gender, and offense. Appendix Tables have been added. (NCJ 224280) (See also the jointly released Prisoners in 2007)."
Public Law 111–5, 111th Congress, 123 STAT. 115, Feb. 17, 2009 [H.R. 1] American Recovery and Reinvestment Act of 2009. 407 pages, PDF
News release: "Acting Archivist of the United States Adrienne Thomas announced [April 10, 2009] that 245,763 pages of Ronald Reagan and George H.W. Bush Presidential records will be opened for research on Monday, April 13, 2009, at their respective libraries. These records, which were still pending with the George W. Bush Administration as of January 20, 2009, today cleared the review process established by President Barack Obama under Executive Order 13489.
News release: "The U.S. General Services Administration has announced plans to buy and deliver $300 million worth of energy-efficient and alternative fuel vehicles using funds from the American Recovery and Reinvestment Act. The GSA plan announced today balances energy-efficiency goals with the need to expedite the purchase and maximize economic benefit for the auto industry and the economy as a whole. GSA will spend about $285 million for 17,600 commercially available fuel-efficient vehicles by June 1. Included are 2,500 hybrid sedans to be ordered by April 15. GSA will also dedicate $15 million to pilot advanced technology vehicles in the GSA Fleet. Pilot programs will focus on commercially available compressed natural gas and hybrid buses and all-electric vehicles. These orders will be placed by September 30."
News release: "The Protection of Children in England: A Progress Report - March 2009: Lord Laming's far-reaching report, The Protection of Children in England: A Progress Report (12 March 2009), was commissioned by the Children's Secretary Ed Balls in November 2008. For more information on the report, and the Government's response, please see the relevant DCSF Press Notice. A letter from the Secretary of State to Lord Laming, setting out the Government's immediate response to Lord Laming's report, is also available. A statement on Lord Laming's report by Ed Balls can be viewed at the DCSF's Speeches page."
News release: "The U.S. Census Bureau today submitted to Congress its proposed recovery plan to create jobs, strengthen the economy and conduct a successful 2010 Census. Under the American Recovery and Reinvestment Act, the Census Bureau was provided $1 billion....Under the proposal, the Census Bureau will invest $250 million in partnership and outreach efforts to minority communities and hard-to-reach populations. This effort is intended to promote participation in the census, which will improve accuracy and facilitate enumeration operations in 2010. The remaining $750 million will be committed to support early 2010 Census operations that will reduce operational and programmatic risks at a critical stage of the census process. More than $300 billion in federal funds are distributed every year based on census results. This funding supports vital local services like health care, schools, law enforcement, transportation and social services.
News release: "The U.S. Department of Health and Human Services (HHS) today announced plans to make $1 billion available for the Community Services Block Grant (CSBG) program. Funded by the American Recovery and Reinvestment Act, the new resources will be allocated to states across the country. States will distribute the new funding to community groups that help Americans through tough economic times...Under the Recovery Act, organizations receiving CSBG funding must use the resources to help get our economy back on track. Funds must be used to reduce poverty, revitalize low-income communities, and assist low-income families become self-sufficient. Eligible entities use funds to provide services and activities addressing employment, education, housing, nutrition, and emergency services to combat the central causes of poverty...The $1 billion in new funds under the Recovery Act is in addition to CSBG's regular annual operating budget of approximately $700 million. See a state-by-state description of CSBG Recovery Act funding here."
"When President Obama signed the American Recovery and Reinvestment Act into law on February 17, 2009, it marked the beginning of a 45-day window for each state to claim the funds allocated to it by the act. In order to receive funds from the ARRA, governors have 45 days to certify that they will first of all "request and use" funds from the ARRA and second of all use them to create jobs and promote economic growth. If a governor does not accept funds allocated to his or her state before that window expires, the state's legislature then has the option of certifying those two conditions itself."
Single Audit: Opportunities Exist to Improve the Single Audit Process and Oversight, GAO-09-307R, March 13, 2009
Economic News Release, U.S. Import and Export Price Indexes News Release: "The U.S. Import Price Index rose 0.5 percent in March, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. A 10.5 percent increase in import petroleum prices more than offset a 0.7 percent decline in the price index for nonpetroleum imports. In contrast, export prices fell in March, decreasing 0.6 percent."
"The Leadership and Knowledge Management system focuses on identifying and addressing agency leadership competencies so that continuity of leadership is ensured, knowledge is shared across the organization, and an environment of continuous learning is present."
News release: "The Federal Communications Commission today begins the process of developing a national broadband plan that will seek to ensure that every American has access to broadband capability. In the American Recovery and Reinvestment Act of 2009 – known as the stimulus package – Congress charged the Commission with creating a national broadband plan. In a Notice of Inquiry adopted [April 8, 2009], the Commission begins a proceeding to create that national broadband plan, seeking input from all stakeholders: consumers, industry, large and small businesses, non-profits, the disabilities
community, governments at the federal, state, local and tribal levels, and all other interested parties. The Commission must deliver the plan to Congress by Feb. 17, 2010. It will provide a roadmap toward achieving the goal of ensuring that all Americans reap the benefits of broadband."
"This is the second in a two-part series of TRAC reports based on IRS information obtained under the FOIA, including a series of court orders requiring the release of hundreds of thousands of pages of internal IRS reports. In the previous report, TRAC documented how in FY 2008 the IRS only allocated 15% of its available revenue agents to the special group within the organization which had the lead authority for examining large and mid-size financial services businesses. This occurred even though these auditors consistently uncovered higher levels of tax underreporing in that area than was noted in other groups...But completely new data — only provided TRAC late on Friday, April 3 — show in concrete terms how the IRS's disproportionate staffing decisions affected the agency's actual audit rates for the financial services corporations. Last year, looking at the largest corporations with assets of $250 million or more, nearly two out of every three returns (64%) filed by large corporations outside of the financial services sector were audited by the IRS. In contrast, for the more than 10,000 of large financial services companies, only 15% of them were audited in FY 2008..."
"President Obama today submitted to the Congress a Fiscal Year (FY) 2009 supplemental appropriations request totaling $83.4 billion to fund ongoing military, diplomatic, and intelligence operations.
News release: "Secretary of the Interior Ken Salazar and Federal Energy Regulatory Commission Chairman Jon Wellinghoff today signed an agreement that clarifies their agencies’ jurisdictional responsibilities for leasing and licensing renewable energy projects on the U.S. Outer Continental Shelf. The Memorandum of Understanding clears the way for developing wind, solar, wave, tidal and ocean current energy sources."
News release: "The nation’s largest airlines had a higher rate of on-time flights this past February than in either February of last year or in January 2009, according to the Air Travel Consumer Report released today by the U.S. Department of Transportation (DOT). According to information filed with the Bureau of Transportation Statistics (BTS), a part of DOT’s Research and Innovative Technology Administration (RITA), the 19 carriers reporting on-time performance recorded an overall on-time arrival rate of 82.6 percent in February, an improvement over both February 2008’s 68.6 percent and January 2009’s 77.0 percent. The monthly report also includes data on lengthy tarmac delays, flight cancellations and the causes of flight delays by the reporting carriers, as well as information on reports of mishandled baggage filed with the carriers and consumer service, disability and discrimination complaints received by DOT’s Aviation Consumer Protection Division. This report also includes reports of incidents involving pets traveling by air, as required to be filed by U.S. carriers."
Peter R. Orszag, Director, OMB: "The economic downturn imposes significant costs on families. But does it also increase crime? Mayor Bloomberg recently mentioned to me that crime in New York City has declined despite the ongoing recession – which seemed surprising to me, so I looked into it a bit more. Homicide in New York City is indeed down 23 percent so far in 2009, and crime overall is down 13 percent. On the other hand, some experts believe crime will increase as the recession continues because "offenders feel a sense of desperation and believe there is no hope to improve their situation." So what are the facts?"
D-2009-073 DoD Components' Use of Global War on Terror Supplemental Funding Provided for Procurement and Research, Development, Test, and Evaluation, April 8, 2009 (Project No. D2006-D000AE-0241.001)
Fact Sheet: "The increased efforts and reallocation of personnel recently announced by the Department of Justice builds on the foundation of expertise and experience gained from ongoing efforts to combat Mexican drug cartels in the United States and to help Mexican law enforcement battle cartels in its own country."
CBO Paper: The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions, April 2009
News release: "The April oversight report for COP is entitled Assessing Treasury’s Strategy: Six Months of TARP. In this report, COP offers a preliminary look at Treasury’s strategy and offers a comparative analysis of previous efforts to combat banking crises in the past. Over the last six months, Treasury has spent or committed $590.4 billion of the TARP funds. Treasury has also relied heavily on the use of the Federal Reserve’s balance sheet which has expanded by more than $1.5 trillion (not including expected TALF loans) in conjunction with the financial stabilization activities it has undertaken beyond its monetary policy operations. This has allowed Treasury to leverage TARP funds well beyond the funds appropriated by Congress."
"Money – and the lack of it – is a source of stress and frustration. And while people the world over are working to stem the global financial situation we’re in, folks at home are trying to gain some control over their own financial situations, too. Practicing positive, tried and true money management techniques – and learning how to recognize and avoid some “ripped from the headlines” consumer scams and rip-offs – can help you weather tough economic times. The Federal Trade Commission (FTC), the nation’s consumer protection agency, created this website, Money Matters, to help you tackle some money issues head-on. Use the menu to the right to find tips and resources on money matters."
"Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, according to current and former national-security officials...But protecting the electrical grid and other infrastructure is a key part of the Obama administration's cybersecurity review, which is to be completed next week. Under the Bush administration, Congress approved $17 billion in secret funds to protect government networks, according to people familiar with the budget. The Obama administration is weighing whether to expand the program to address vulnerabilities in private computer networks, which would cost billions of dollars more. A senior Pentagon official said Tuesday the Pentagon has spent $100 million in the past six months repairing cyber damage."
Presentations By The Acting Comptroller General
Via EPIC: "A new study by leading scholars from the USA, Canada, UK, Netherl