E-Government
July 03, 2009
* Employment Situation Summary, June 2009

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."

July 02, 2009
* New GAO Reports: Urban Area Security Initiative, Defense Travel System, Federal Information Security Issues
  • Urban Area Security Initiative: FEMA Lacks Measures to Assess How Regional Collaboration Efforts Build Preparedness Capabilities, GAO-09-651, July 02, 2009
  • Defense Travel System: Implementation Challenges Remain, GAO-09-577, June 30, 2009
  • Federal Information Security Issues, GAO-09-817R, June 30, 2009
  • Recovery Act: The Department of Transportation Followed Key Federal Requirements in Developing Selection Criteria for Its Supplemental Discretionary Grants Program, GAO-09-785R, June 30, 2009
* USDA Food Security Assessment, 2008-09

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

  • "Food security in 70 developing countries is projected to deteriorate over the next decade, according to USDA’s Economic Research Service. After rising nearly 11 percent from 2007 to 2008, the number of food-insecure people in the developing countries analyzed by ERS researchers is estimated to rise to 833 million in 2009, an almost 2-percent rise from 2008 to 2009. Despite a decline in food prices in late 2008, deteriorating purchasing power and food security are expected in 2009 because of the growing financial deficits and higher inflation that have occurred in recent years. Food-insecure people are defined as those consuming less than the nutritional target of 2,100 calories per day per person."
  • * SEC Proposes Measures to Improve Corporate Governance and Enhance Investor Confidence

    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."

    July 01, 2009
    * Agencies Issue Final Rules on Accuracy of Credit Report Information and Allowing Direct Disputes

    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."

    * FTC Cracks Down on Scammers Trying to Take Advantage of the Economic Downturn

    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."

  • Related postings on financial system
  • * EPA Proposes Stringent Standards for Large Ships

    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."

  • Information on the components of the coordinated strategy, including the proposed Clean Air Act standards and the ECA designation
  • June 30, 2009
    * EPA Posts List of 44 “High Hazard Potential” Coal Ash Waste Impoundments

    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."

  • Fact Sheet: Coal Combustion Residues (CCR) - Surface Impoundments with High Hazard Potential Ratings, EPA530-F-09-006, June 2009
  • * Report: America's Container Ports: Freight Hubs That Connect Our Nation to Global Markets

    "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."

    * DOT: Motorcycle Trends in the United States

    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

    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.

    June 29, 2009
    * Banking Agencies Issue Host State Loan-to-Deposit Ratios

    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."

  • Related postings on financial system
  • * Federal Reserve Bank of Atlanta: Peak Oil Debate

    The Peak Oil Debate, Laurel Graefe, Economic Review, Vol. 94, No. 2, 2009

  • "For the past half-century, a debate has raged over when "peak oil" will occur—the point at which output can no longer increase and production begins to level off or gradually decline. Determining how long the oil supply will last has become even more pressing because the world’s energy supply still relies heavily on oil, and global energy demand is expected to rise steeply over the next twenty years. This article seeks to bring the peak oil debate into focus. The author notes that a number of factors cloud the energy outlook: Estimates of remaining resources are typically given as a range of probabilities and are thus open to interpretation. Variations also occur in estimates of future oil production and in the ways countries report their reserve data."
  • * Governance Matters 2009: Learning From Over a Decade of the Worldwide Governance Indicators

    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 WGI organize and synthesize data, reflecting on the reports and views of tens of thousands of stakeholders worldwide, including respondents to household and firm surveys and experts from nongovernmental organizations, public sector agencies, and providers of commercial business information. The new WGI is based on 35 different data sources from 33 organizations around the world, aggregating the data from hundreds of disaggregated questions, to cover 212 countries around the world."

  • 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."

    June 28, 2009
    * BEA: Personal Savings Rate

    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."

    • U.S. Bureau of Economic Analysis - Personal Saving Rate, updated Thursday, June 25 2009.
    • LA Times: "Americans' savings rate jumps, but there's a catch The personal savings rate soars to 6.9% in May, but the government's one-time stimulus payments skewed the data."
    • A Guide to the National Income and Product Accounts of the United States: "This guide presents information on the structure, definitions, and presentation that underlie the national income and product accounts (NIPAs) produced by the Bureau of Economic Analysis. The NIPAs show the composition of production and the distribution of incomes earned in production. Thus, they represent a critical element of the U.S. economic accounts, which are designed to provide a consistent and comprehensive picture of the Nation’s economy. The NIPAs feature several widely followed measures of aggregate U.S. economic activity, including gross domestic product (GDP), gross domestic income (GDI), personal income, and personal saving among
      others."
    • Related postings on financial system

    * Federal Reserve offers $150 billion in 28-day credit through its Term Auction Facility

    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.

  • Related postings on financial system
  • * Census Bureau Reports Increase of Nearly 1 Million Nonemployer Businesses

    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."

  • Related postings on financial system
  • * CDC Introduces New Website to Help Employers Combat Obesity and Reduce Health-Related Costs

    "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."

    June 27, 2009
    * CBO's Long-Term Model: An Overview

    CBO's Long-Term Model: An Overview, June 2009

  • "During the past eight years, the Congressional Budget Office (CBO) has developed a sophisticated long-term microsimulation model known as CBOLT. The agency uses the model to analyze the budgetary and distributional effects of the Social Security program and other federal policies and programs, to evaluate potential reforms to federal entitlement programs, and to quantify the nation’s long-term fiscal challenges. This background paper provides a short, nontechnical overview of how the CBOLT model works."
  • June 26, 2009
    * Federal Reserve: Profitability of Credit Card Operations of Depository Institutions

    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."

    * New GAO Reports: Medical Benefits to Deployed Federal Civilians, DHS Infrastructure Protection Cost-Benefit Report, Energy Markets
      Human Capital: Actions Needed to Better Track and Provide Timely and Accurate Compensation and Medical Benefits to Deployed Federal Civilians, GAO-09-562, June 26, 2009
    • The Department of Homeland Security's (DHS) Critical Infrastructure Protection Cost-Benefit Report, GAO-09-654R, June 26, 2009
    • Energy Markets: Estimates of the Effects of Mergers and Market Concentration on Wholesale Gasoline Prices, GAO-09-659, June 12, 2009
    • Energy Markets: Estimates of the Effects of Mergers and Market Concentration on Wholesale Gasoline Prices, GAO-09-659, June 12, 2009
    June 25, 2009
    * CBO: The Troubled Asset Relief Program: Report on Transactions Through June 17, 2009

    The Troubled Asset Relief Program: Report on Transactions Through June 17, 2009 - June 2009

  • "In October 2008, the Emergency Economic Stabilization Act of 2008 (Division A of Public Law 110-343) established the Troubled Asset Relief Program (TARP) to enable the Department of the Treasury to promote stability in financial markets through the purchase and insurance of “troubled assets.” Section 202 of that legislation requires the Office of Management and Budget (OMB) to submit semiannual reports on the costs of the Treasury’s purchases and guarantees of troubled assets. The law also requires the Congressional Budget Office (CBO) to prepare an assessment of each OMB report within 45 days of its issuance."
  • Related postings on the Troubled Asset Relief Program (TARP)
  • Related postings on financial system
  • * FTC Issues Iterim Report on "Authorized Generic" Drugs

    "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."

    * Annual Report 2008 of the Commission Bancaire

    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."

  • Annual Report 2008 of the Commission Bancaire (26/06/2009)
  • Related postings on financial system
  • * Report: Underpayments to Consumers by the Health Insurance Industry

    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.

  • "More than 100 million American consumers pay extra premiums for health insurance coverage that allows them to receive care outside their insurance company’s network of doctors and other health care providers. Consumers pay more for “out-of-network” coverage because they believe it gives them access to the medical care that will afford them or their family members the best chance for recovery from a serious accident or illness. Over the past several years, a succession of private lawsuits and government investigations has revealed that the largest health insurance companies in the United States have been under-reimbursing their customers for out-of-network health care services. While insurance carriers have been promising to provide their customers with a certain level of coverage, they have actually been paying out-of-network claims at a lower level. The result of this practice is that American consumers have paid billions of dollars for health care services that their insurance companies should have paid."
  • * Federal Reserve announces extensions of and modifications to a number of its liquidity programs

    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."

  • Related postings on financial system
  • * CBO - The Long-Term Budget Outlook, June 2009

    The Long-Term Budget Outlook, June 2009:

  • "Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds longterm fiscal projections, rising costs for health care and the aging of the U.S. population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits and accumulating debt. Keeping deficits and debt from
    reaching levels that would cause substantial harm to the economy would require increasing revenues significantly as a percentage of gross domestic product (GDP), decreasing projected spending sharply, or some combination of the two."
  • Related postings on financial system
  • * U.S. EPA’s Environmental Justice Resource Guide available to the public

    "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."

    * DOE OIG: Incident Handling and Privacy Act

    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.

  • "Based on our review, the Department’s Chief Information Officer (CIO) must improve security controls over the incident response and handling program and accelerate two-factor authentication for protecting Privacy Act information to adequately protect the confidentiality, integrity, and availability of the personally identifiable information (PII) data residing on public web sites. During our audit, we also identified significant conditions related to the work performed regarding [Redacted Text] and public domain web site establishment and maintenance.
  • June 24, 2009
    * Agencies Announce Notice of Proposed Rulemaking for Community Reinvestment Act

    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."

  • Related postings on financial system
  • * EPA National Scale Air Toxics Assessment NATA

    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."

    * Comparing Technology Innovation in the Private and Public Sectors

    "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."

    * OCC Releases CRA Evaluations for 22 National Banks

    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."

    * Census Bureau Reports World's Older Population Projected to Triple by 2050

    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."

    June 23, 2009
    * FDIC IG: Brokered Deposit Waiver Application Process

    June 2009, Report No. AUD-09-015, FDIC’s Brokered Deposit Waiver Application Process, Inspector General Audit Report

  • "The objective of this audit was to assess the FDIC’s Brokered deposits (BD) waiver application process for FDIC-insured financial institutions. The scope of our audit did not include assessing the merits of the FDIC’s decisions to grant waivers or the extent to which the FDIC ensures that institutions comply with the conditions of approval for BD waivers."
  • Related postings on financial system
  • * Fannie Mae and Freddie Mac Loan Modifications Up By More Than 50 Percent in First Quarter

    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."

  • Foreclosure Prevention Report First Quarter 2009 Disclosure and Analysis of Fannie Mae and Freddie Mac Mortgage Loan Data, June 23, 2009
  • Related postings on financial system
  • * CBO Report: Measuring the Effects of the Business Cycle on the Federal Budget

    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."

  • Related postings on financial system
  • * New GAO Reports: International Aviation, Defense Acquisitions, Component Servicemembers, Key Challenges Facing Government Managers, Recovery Act and TARP
    • High Speed Passenger Rail: Effectively Using Recovery Act Funds for High Speed Rail Projects, GAO-09-786T, June 23, 2009
    • Military Personnel: Reserve Component Servicemembers on Average Earn More Income while Activated, GAO-09-688R, June 23, 2009
    • V-22 Osprey Aircraft: Assessments Needed to Address Operational and Cost Concerns to Define Future Investments, GAO-09-692T, June 23, 2009
    • International Aviation: Federal Efforts Help Address Safety Challenges in Africa, but Could Benefit from Reassessment and Better Coordination, GAO-09-498, June 16, 2009
    • Defense Acquisitions: Assessments Needed to Address V-22 Aircraft Operational and Cost Concerns to Define Future Investments, GAO-09-482, May 11, 2009
    • Army Corps of Engineers: Recent Changes Have Reduced the Use of Continuing Contracts, but Management Processes Need to Be Improved, GAO-09-552, June 22, 2009
    • Job Corps: Better Targeted Career Training and Improved Preenrollment Information Could Enhance Female Residential Student Recruitment and Retention, GAO-09-470, June 02, 2009
    • Medicaid: Source of Screening Affects Women's Eligibility for Coverage of Breast and Cervical Cancer Treatment in Some States, GAO-09-384, May 22, 2009
    • Combating Nuclear Smuggling: DHS Improved Testing of Advanced Radiation Detection Portal Monitors, but Preliminary Results Show Limits of the New Technology, GAO-09-655, May 21, 2009
    • Firearm and Explosives Background Checks Involving Terrorist Watch List Records, GAO-09-125R, May 21, 2009
    * Defense Secretary Announces Creation of Unified U.S. Cyber Command

    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."

    June 22, 2009
    * Federal Reserve Testimony on Over-the-counter derivatives

    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."

  • Related postings on financial system
  • * State Dept. Report: Political Violence Against Americans 2008

    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."

    * BEA: State Personal Income: First Quarter 2009

    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."

  • Related postings on financial system
  • June 21, 2009
    * DOT Announces Guidance on High-Speed Intercity Passenger Rail Program

    "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."

    * Trafficking in Persons Report 2009

    "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.

    * President Obama Discusses New Consumer Financial Protection Agency

    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."

  • Related postings on financial system
  • * FHFA Releases Research Paper - A Brief Examination of Previous House Price Declines

    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."

  • Related postings on financial system
  • June 20, 2009
    * FHA Federal Highway Administration Announces Grant for Super Strength Concrete for First-Time Use on Bridge Deck Panels in US

    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."

  • Related postings on bridge issues
  • * FHATraffic Volume Trends Report, April 2009

    "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."

  • April 2009 Traffic Volume Trends
  • June 19, 2009
    * FTC Staff Report: February 2009 Self-Regulatory Principles For Online Behavioral Advertising

    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."

    June 18, 2009
    * New GAO Reports: Firearms Trafficking, Textile Transshipment, FDA's Review of Medical Devices, 2006 Softwood Lumber Agreement
    • Firearms Trafficking: U.S. Efforts to Combat Arms Trafficking to Mexico Face Planning and Coordination Challenges, GAO-09-709, June 18, 2009
    • International Trade: Observations on U.S. Government Efforts to Address Textile Transshipment, GAO-09-813T, June 18, 2009
    • Medical Devices: Shortcomings in FDA's Premarket Review, Postmarket Surveillance, and Inspections of Device Manufacturing Establishments, GAO-09-370T, June 18, 2009
    • Military Pay: The Defense Finance and Accounting Service--Indianapolis Could Improve Control Activities over Its Processing of Active Duty Army Military Personnel Federal Payroll Taxes, GAO-09-557R, June 18, 2009
    • New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities, GAO-09-795T, June 18, 2009
    • OSHA's Voluntary Protection Programs: Improved Oversight and Controls Would Better Ensure Program Quality, GAO-09-395, May 20, 2009
    • U.S. and Canadian Governments Have Established Mechanisms to Monitor Compliance with the 2006 Softwood Lumber Agreement but Face Operational Challenges, GAO-09-764R, June 18, 2009
    June 17, 2009
    * Newly-declassified Report for 9/11 Commission Focused on Agency Info Sharing

    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 information sharing failures in the summer of 2001 were not the result of legal barriers but of the failure of individuals to understand that the barriers did not apply to the facts at hand,” the 35-page monograph concludes. “Simply put, there was no legal reason why the information could not have been shared.”
  • * FTC Testifies on Efforts to Combat Identity Theft

    "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."

  • See also: EPIC Urges Comprehensive Strategy for ID Theft - "With ID theft rapidly increasing in the United States, EPIC Executive Director Marc Rotenberg today urged a Congressional Committee to address the root causes of the problem. In testimony before the House Oversight Committee, Mr. Rotenberg said that the government typically acts only after the crime has occurred and warned that the problem will get worse if current trends continue. EPIC recommended a comprehensive strategy for ID Theft that would include: (1) Establishing privacy safeguards for web 2.0 services; (2) Ensuring privacy protections for outsourcing; (3) Enacting comprehensive privacy legislation; (4) Making privacy protection a focal point of cybersecurity policy; and (5) Developing better techniques for Identity Management."
  • * White House Financial Regulatory Reform: Rebuilding Financial Supervision and Regulation

    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:

    * U.S. Climate Change Science Program Final Reports
    * Strengthening the Transatlantic Alliance: An Overview of the Obama Administration's Policies in Europe

    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

  • "Many of our European partners are among the most prosperous, democratic, and militarily capable countries in the world. Working with our European allies both bilaterally and multilaterally will remain critical to success in tackling the many global challenges we face together. The United States cooperates with Europe on all of the most important global challenges, including restoring growth and confidence in the world financial system; fighting poverty and pandemic disease; countering terrorism and nuclear proliferation; advancing peace in the Middle East; promoting human rights; and combating trafficking in persons. Still, there are other areas where our cooperation with Europe needs to increase. We can and must do more to address challenges like ongoing operations in Afghanistan and Iraq; instability in Pakistan; Iranian and North Korean nuclear weapons programs; energy security and climate change. As President Obama has said, “The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose.”
  • * New GAO Reports: Broadcasting to Cuba, Polar-Orbiting Satellites, Troubled Asset Relief Program, American Battle Monuments
    • Broadcasting to Cuba: Observations Regarding TV Marti's Strategy and Operations, GAO-09-758T, June 17, 2009
    • Identity Theft: Governments Have Acted to Protect Personally Identifiable Information, but Vulnerabilities Remain, GAO-09-759T, June 17, 2009
    • Polar-Orbiting Environmental Satellites: With Costs Increasing and Data Continuity at Risk, Improvements Needed in Tri-agency Decision Making, GAO-09-564, June 17, 2009
    • Polar-Orbiting Satellites: With Costs Increasing and Data Continuity at Risk, Improvements Needed in Tri-agency Decision Making, http://www.gao.gov/new.items/d09772t.pdf, June 17, 2009
    • Telecommunications: Preliminary Observations about Consumer Satisfaction and Problems with Wireless Phone Service and FCC's Efforts to Assist Consumers with Complaints, GAO-09-800T, June 17, 2009
    • Troubled Asset Relief Program: June 2009 Status of Efforts to Address Transparency and Accountability Issues, GAO-09-658, June 17, 2009
    • American Battle Monuments Commission: Management Action Needed to Improve Internal Control Procedures, GAO-09-714R, June 17, 2008
    * KnowPrivacy Report

    Joshua Gomez, Travis Pinnick, and Ashkan Soltani, UC Berkeley, School of Information - KnowPrivacy - June 1, 2009

  • "Online privacy and behavioral profiling are of growing concern among both consumers and government officials. In this report, we examine both the data handling practices of popular websites and the concerns of consumers in an effort to identify problematic practices. We conclude by offering potential solutions to realign privacy practices with consumers‘ expectations. The data for this report were pulled from six domains, three regarding actual website practices and three regarding user expectations. We analyzed the policies of the 50 most visited websites to better understand disclosures about the types of data collected about users, how that information is used, and with whom it is shared. We also looked at specific practices such as sharing information with affiliates and third-party tracking. To understand user concerns and knowledge of data collection we looked at surveys and polls conducted by previous privacy researchers. We looked at records of complaints and inquiries filed with privacy watchdog organizations such as the Privacy Rights Clearinghouse (PRC), The California Office of Privacy Protection (COPP), and TRUSTe. Through several Freedom of Information Act requests, we also received records of complaints directly from the Federal Trade Commission (FTC). Finally, to gain some insight into what aspects of data collection users are being made aware of, we looked at news articles from three major newspapers for topics related to Internet privacy."
  • June 16, 2009
    * New GAO Reports: Army's Modernization of Combat Systems, Federal Bankruptcy Judges, Influenza Pandemic, NASA
    • Defense Acquisitions: Issues to be Considered for Army's Modernization of Combat Systems, GAO-09-793T, June 16, 2009
    • Federal Bankruptcy Judges: Measuring Judges' Case-Related Workload, GAO-09-808T, June 16, 2009
    • Influenza Pandemic: Greater Agency Accountability Needed to Protect Federal Workers in the Event of a Pandemic, GAO-09-783T, June 16, 2009
    • NASA: Commercial Partners Are Making Progress, but Face Aggressive Schedules to Demonstrate Critical Space Station Cargo Transport Capabilities, GAO-09-618, June 16, 2009
    • Technology Transfer: Clearer Priorities and Greater Use of Innovative Approaches Could Increase the Effectiveness of Technology Transfer at Department of Energy Laboratories, GAO-09-548, June 16, 2009
    • Influenza Pandemic: Increased Agency Accountability Could Help Protect Federal Employees Serving the Public in the Event of a Pandemic, GAO-09-404, June 12, 2009
    * Joint Audit of Blackwater Contract and Task Orders for Worldwide Personal Protective Services in Iraq

    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.

  • "The joint audit addressed the following four objectives pertaining to the Blackwater task orders under the Department of State Worldwide Personal Protective Services II contract: (1) What was the contracting process? (2) What were the key requirements and provisions of the contract and task orders? (3) What are the costs and funding sources of the contract and task orders? (4) How did the Department administer the contract and task orders to provide proper oversight of Blackwater’s cost and performance in Iraq?"
  • * FDIC Supervisory Insights - Devoted to Advancing the Practice of Bank Supervision, Summer 2009

    "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."

  • Related postings on financial system
  • * The Digital Britain Report

    "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."

    June 15, 2009
    * DHS - Refugees and Asylees: 2008

    DHS Office of Immigration Statistics - Refugees and Asylees: 2008, Daniel C. Martin AND Michael Hoefer

  • "The United States provides refuge to persons who have been persecuted or have a well-founded fear of persecution through two programs: one for refugees (persons outside the U.S.) and one for asylees (persons in the U.S.). This Office of Immigration Statistics Annual Flow Report provides information on the number of persons admitted to the United States as refugees or granted asylum in the United States in 2008."
  • * IMF Concludes Article IV Consultation with the United States

    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."

  • International Monetary Fund - 2009 Article IV Consultation with the United States of America Concluding Statement of the IMF Mission, June 10, 2009
  • * OMB Memo Includes New Requirements for Hiring Federal Employees

    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:

    1. Map your current hiring process, using OPM’s End-to-End Hiring Process Mapping, from the time a manager identifies a need to hire until the person selected starts their first day on the job.
    2. Review the job announcements for your agency’s top 10 occupations and have them written in plain language and reduced to no more than five pages.
    3. Notify applicants of their status at four points through USAJobs.gov in a timely fashion --application received, application assessed for qualifications, applicant referred to selecting official (or not); and applicant selected (or not).
    4. Engage hiring managers in all critical parts of the hiring process. Hiring managers should be involved in targeting recruitment, drafting job announcements, reviewing initial applications, interviewing applicants, and selecting applicants.

    * Preliminary Analysis of Major Provisions Related to Health Insurance Coverage Under the Affordable Health Choices Act

    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.

  • "The attached table summarizes our preliminary assessment of the proposal’s budgetary effects and its likely impact on insurance coverage. According to that assessment, enacting the proposal would result in a net increase in federal budget deficits of about $1.0 trillion over the 2010–2019 period. Once the proposal was fully implemented, about 39 million individuals would obtain coverage through the new insurance exchanges. At the same time, the number of people who had coverage through an employer would decline by about 15 million (or roughly 10 percent), and coverage from other sources would fall by about 8 million, so the net decrease in the number of people uninsured would be about 16 million."
  • Affordable Health Choice Act of 2009 [615 pages, PDF]
  • * New GAO Reports: Funding for New Border Patrol Agents, Tax Gap, Veterans Affairs
    • CBP Could Improve Its Estimation of Funding Needed for New Border Patrol Agents, GAO-09-542R, June 15, 2009
    • Tax Gap: Requiring Information Reporting for Charitable Cash Contributions May Not Be an Effective Way to Improve Compliance GAO-09-555, May 14, 2009
    • Veterans Affairs: Implementation of Temporary Residence Adaptation Grants. GAO-09-637R, June 15, 2009
    June 14, 2009
    * Developing a New Global Approach to Ending Hunger

    Remarks at the 2009 World Food Prize Announcement Ceremony, Hillary Rodham Clinton, Secretary of State, Washington, DC. June 11, 2009

  • "The effects of chronic hunger cannot be overstated. Hunger is not only a physical condition, it is a drain on economic development, a threat to global security, a barrier to health and education, and a trap for the millions of people worldwide who work from sunup to sundown every single day but can barely produce enough food to sustain their lives and the lives of their families. Most of all, hunger belies our planet’s bounty. It challenges our common humanity and resolve. We do have the resources to give every person in the world the tools they need to feed themselves and their children...So we will support the creation of effective, sustainable farming systems in regions around the world where current methods are not working. We will do this by helping countries carry out strategies designed to meet their specific needs; for example, through the Comprehensive Africa Agriculture Development Plan, which establishes a collaborative and inclusive process led by African countries themselves."
  • June 13, 2009
    * Treasury Announces $25 Billion in Direct Allocations of Recovery Zone Bonds

    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."

  • Related postings on financial system
  • June 12, 2009
    * CBO: Responses to Questions About the Cost of a Cap-and-Trade Program

    Responses to Questions About the Cost of a Cap-and-Trade Program, June 12, 2009 - Letter to the Honorable John F. Kerry

  • "...under the illustrative cap-and-trade program that CBO analyzed, the government would create allowances (that is, rights to emit CO2) and firms that are regulated under that program would need to acquire such allowances. The government could either sell
    them (obtaining revenues that it could use in various ways, such as reducing taxes, providing rebates to consumers, or paying for other priorities) or give them away. In most cases, firms would pass the cost of acquiring the allowances (as well as their cost of reducing emissions) on to households in the form of higher prices for energy-intensive goods and services. Most of that estimated gross cost of $1,600 per household consists of the market value of the allowances that firms would have to acquire."
  • Related postings on climate change
  • * BLS: U.S. Import and Export Price Indexes, May 2009

    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."

  • Related postings on financial system
  • * 2006 U.S. Code Now Available Online Via GPO

    "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."

    * Obama Administration Implements Steps to Reduce Environmental Impacts of Mountaintop Coal Mining

    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..."

    June 11, 2009
    * New GAO Reports: EPA Chemical Assessments, Public Housing, Environmental Contamination
    • EPA Chemical Assessments: Process Reforms Offer the Potential to Address Key Problems, GAO-09-774T, June 11, 2009
    • Public Housing: HUD's Oversight of Housing Agencies Should Focus More on Inappropriate Use of Program Fund, GAO-09-33, June 11, 2009
    • Environmental Contamination: Lessons Learned from the Cleanup of Formerly Used Defense and Military Munitions Sites, GAO-09-779T, June 10, 2009
    * World Trade Organization: Hyperlinked Map of Disputes Between Members

    "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]

  • Map of Disputes Between WTO Members
  • * Hearing: Bank of America and Merrill Lynch: How Did a Private Deal Turn Into a Federal Bailout?

    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?

    * Interior Review Shines Light on Controversial Utah Oil and Gas Leases

    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."

  • Read the full report, recommendations, and associated maps
  • * Federal Agencies Issue Frequently Asked Questions on Identity Theft Rules

    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)."

  • Frequently Asked Questions: Identity Theft Red Flags and Address Discrepancies
  • * National Archives Appoints Director of the Office of Government Information Services

    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."

    June 10, 2009
    * Special Tax Break on New Car Purchases Available in States With No Sales Tax

    "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."

  • Related postings on financial system
  • * Emerging Health Care Issues: Follow-On Biologic Drug Competition: A Federal Trade Commission Report

    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."

    * Federal Reserve Board Beige Book, June 2009

    June 10, 2009 - Summary of Commentary on Current Economic Conditions by Federal Reserve District. Link to reports by Districts.

  • "Reports from the twelve Federal Reserve District Banks indicate that economic conditions remained weak or deteriorated further during the period from mid-April through May. However, five of the Districts noted that the downward trend is showing signs of moderating. Further, contacts from several Districts said that their expectations have improved, though they do not see a substantial increase in economic activity through the end of the year. Manufacturing activity declined or remained at a low level across most Districts. However, several Districts also reported that the outlook by manufacturers has improved somewhat. Demand for nonfinancial services contracted across Districts reporting on this segment. Retail spending remained soft as consumers focused on purchasing less expensive necessities and shied away from buying luxury goods. New car purchases remained depressed, with several Districts indicating that tight credit conditions were hampering auto sales. Travel and tourism activity also declined. A number of Districts reported an uptick in home sales, and many said that new home construction appeared to have stabilized at very low levels. Vacancy rates for commercial properties were rising in many parts of the country, while developers are finding financing for new commercial projects increasingly difficult to obtain."
  • Related postings on financial system
  • * Bureau of Labor Statistics: Employer Costs for Employee Compensation

    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."

    * OECD unemployment rate rises to 7.8% in April 2009

    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."

  • Related postings on financial system
  • * CBO: Did the 2008 Tax Rebates Stimulate Short-Term Growth?

    Did the 2008 Tax Rebates Stimulate Short-Term Growth?, June 10, 2009 Economic and Budget Issue Brief

  • "In preparing its economic forecast published in September 2008, the Congressional Budget Office (CBO) estimated that 40 percent of the tax rebates issued in the spring and summer under the Economic Stimulus Act of 2008 (Public Law 110-185) would be spent within six
    months––raising the growth of consumption in the second and third quarters of 2008 by 2.3 percent and 0.2 percent, respectively, and reducing it by 1.0 percent in the fourth quarter, when the distribution of the rebates was expected to end. However, analysts disagree about the economic impact of tax rebates. This brief examines the issue in light of the evidence currently available."
  • Related postings on financial system
  • * New GAO Reports: Voters With Disabilities, Broadband Deployment Plan, VA Real Property
    • Army Working Capital Fund: Actions Needed to Improve Budgeting for Carryover at Army Ordnance, GAO-09-415, June 10, 2009
    • Environmental Contamination: Lessons Learned from the Cleanup of Formerly Used Defense and Military Munitions Sites, GAO-09-779T, June 10, 2009
    • VA Real Property: VA Emphasizes Enhanced-Use Leases to Manage Its Real Property Portfolio, GAO-09-776T, June 10, 2009
    • Voters With Disabilities: More Polling Places Had No Potential Impediments Than in 2000, but Challenges Remain, GAO-09-685, June 10, 2009
    • Telecommunications: Broadband Deployment Plan Should Include Performance Goals and Measures to Guide Federal Investment, GAO-09-494, May 12, 2009
    * HHS Report: Health Disparities: A Case for Closing the Gap

    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.

  • View Roadblocks to Health Care Report | View Hard Times in the Heartland Report | View Bottom Line Report | View Costs of Inaction Report

  • June 09, 2009
    * Congressional Oversight Panel Report: Stress Testing and Shoring Up Bank Capital

    "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."

  • Related postings on financial system
  • * EIA - OPEC Revenues Fact Sheet

    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."

    * New GAO Reports: Federal Energy and Fleet Management, Scientific Integrity, VA Health Care
    • Federal Energy and Fleet Management: Plug-in Vehicles Offer Potential Benefits, but High Costs and Limited Information Could Hinder Integration into the Federal Fleet, GAO-09-493, June 09, 2009
    • Scientific Integrity: EPA's Efforts to Enhance the Credibility and Transparency of Its Scientific Processes, GAO-09-773T, June 09, 2009
    • VA Health Care: Overview of VA's Capital Asset Management, GAO-09-686T, June 09, 2009
    * DHS OIG: Progress in Addressing Security Challenges at Washington Dulles International Airport

    OIG-09-66 - DHS' Progress in Addressing Technical Security Challenges at Washington Dulles International Airport (Redacted), May 2009

  • "...more work is needed to address physical and environmental control deficiencies. CBP also needs to implement technical controls to ensure that it is using the most current version of operating systems. Further, CBP [U.S. Customs and Border Protection] should ensure that system documentation includes information concerning vulnerabilities and accepted risks."
  • * U.S. Geological Survey Launches New Generation of Maps

    "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."

    * National Strategy to Reduce Drug Trafficking and Flow of Bulk Cash and Weapons Across Southwest Border

    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."

    * HUD and Fair Housing Partners Report Record Number of Housing Discrimination Complaints

    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."

    June 08, 2009
    * EIA: Maps of Domestic Natural Gas Sources

    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."

    * New GAO Reports: Aviation and Climate Change, Nuclear and Worker Safety, Biomonitoring
    • Aviation and Climate Change: Aircraft Emissions Expected to Grow, but Technological and Operational Improvements and Government Policies Can Help Control Emissions, GAO-09-554, June 08, 2009
    • Nuclear and Worker Safety: Limited Information Exists on Costs and Reasons for Work Stoppages at DOE's Hanford Site, GAO-09-451, May 07, 2009
    • Biomonitoring: EPA Needs to Coordinate Its Research Strategy and Clarify Its Authority to Obtain Biomonitoring Data, GAO-09-353, April 30, 2009
    * White House Roadmap to Recovery

    "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."

  • Related postings on financial system
  • * Federal Financial Institutions Examination Council's 2009 Distressed/Underserved Tract List

    List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies. Available Formats:

  • 2009 Distressed or Underserved Tract List Excel File | PDF File | Accessible PDF File
  • Related postings on financial system
  • * CIA World Factbook Launches New Web Site

    "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."

    * USDA: Emerging Issues in the U.S. Organic Industry

    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

  • Consumer demand for organic products has widened over the last decade. While new producers have emerged to help meet demand, market participants report that a supply squeeze is constraining growth for both individual firms and the organic sector overall. Partly in response to shortages in organic supply, Congress in 2008 included provisions in the Food, Conservation, and Energy Act (2008 Farm Act) that, for the first time, provide direct financial support to farmers to convert to organic production. This report examines recent economic research on the adoption of organic farming systems, organic production costs and returns, and market conditions to gain a better understanding of the organic supply squeeze and other emerging issues in this rapidly changing industry."
  • June 07, 2009
    * CBO Cost Estimate for American Clean Energy and Security Act of 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)."

  • Related postings on climate change
  • * CBO - The Effects of Proposals to Increase Cost Sharing in TRICARE

    A CBO Paper - The Effects of Proposals to Increase Cost Sharing in TRICARE, June 2009

  • "The TRICARE program provides health care for the military’s uniformed personnel and retirees, and for their dependents and survivors—the more than 9 million people eligible to use its integrated system of military health care facilities and providers and regional networks of contracted civilian providers. In 2008, the Department of Defense’s (DoD’s) costs for that medical care were $42 billion, or about 6 percent of DoD’s total funding for that year. The Congressional Budget Office (CBO) has projected DoD’s future spending on the basis of the information in the most recent Future Years Defense Program (FYDP). Those projections indicate that costs for medical care will rise more rapidly than overall resources for defense and require an estimated 13 percent of total defense funding by 2026."
  • June 05, 2009
    * Employment Situation Summary, May 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."

  • Related postings on financial system
  • * Iraq Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal

    Energy Information Administration: Iraq Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal, June 2009

  • "Iraq was the world’s 13th largest oil producer in 2008, and has the world’s third largest proven petroleum reserves after Saudi Arabia and Canada. Just a fraction of Iraq’s known fields are in development, and Iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited. Iraq’s energy sector is heavily based upon oil, with approximately 94 percent of its energy needs met with petroleum. According to the International Monetary Fund, crude oil export revenues represented over 75 percent of GDP and 86 percent of government revenues in 2008."
  • June 04, 2009
    * New GAO Reports: Export Controls, IRS Budget Review, International Food Assistance, Military and Dual-Use Technology
    • Export Controls: Fundamental Reexamination of System Is Needed to Help Protect Critical Technologies, GAO-09-767T, June 4, 2009
    • Internal Revenue Service: Review of the Fiscal Year 2010 Budget Request, GAO-09-754, June 3, 2009
    • International Food Assistance: Local and Regional Procurement Can Enhance the Efficiency of U.S. Food Aid, but Challenges May Constrain Its Implementation, GAO-09-570, May 29, 2009
    • International Food Assistance: Local and Regional Procurement Provides Opportunities to Enhance U.S. Food Aid, but Challenges May Constrain Its Implementation, GAO-09-757T, June 4, 2009
    • Military and Dual-Use Technology: Covert Testing Shows Continuing Vulnerabilities of Domestic Sales for Illegal Export, GAO-09-725T, June 4, 2009
    • Tax Administration: Interim Results of IRS's 2009 Filing Season, GAO-09-640, June 3, 2009
    * Open Government Initiative Discussion Phase: Transparency Principles

    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."

    * CBO: Monthly Budget Review, June 2009

    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."

  • Related postings on financial system
  • * NIST Delivers Updated Draft Standards for Electronic Voting Machines

    "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."

    * Data.gov: machine readable datasets generated by the Executive Branch of the Federal Government

    "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."

    June 03, 2009
    * Internet Use Triples in Decade, Census Bureau Reports

    "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."

  • These figures come from the 2007 Internet and Computer Use Supplement to the Current Population Survey.
  • Detailed tables
  • * Testimony by Chairman Bernanke on current economic and financial conditions and the federal budget

    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

  • "The U.S. economy has contracted sharply since last fall, with real gross domestic product (GDP) having dropped at an average annual rate of about 6 percent during the fourth quarter of 2008 and the first quarter of this year. Among the enormous costs of the downturn is the loss of nearly 6 million jobs since the beginning of 2008. The most recent information on the labor market--the number of new and continuing claims for unemployment insurance through late May--suggests that sizable job losses and further increases in unemployment are likely over the next few months."
  • Related postings on financial system
  • * New GAO Reports: Public Transportation, Rebuilding Iraq, Indian Health Service
    • Alaska Native Villages: Limited Progress Has Been Made on Relocating Villages Threatened by Flooding and Erosion, GAO-09-551, June 03, 2009
    • Influenza Pandemic: Continued Focus on the Nation's Planning and Preparedness Efforts Remains Essential, GAO-09-760T, June 03, 2009
    • Public Transportation: New Starts Program Challenges and Preliminary Observations on Expediting Project Development, GAO-09-763T, June 03, 2009
    • Rebuilding Iraq: Improved Management Controls and Iraqi Commitment Needed for Key State and USAID Capacity-Building Programs, GAO-09-526, June 03, 2009
    • Indian Health Service: Millions of Dollars in Property and Equipment Continue to Be Lost or Stolen, GAO-09-450, June 02, 2009
    • Regulation SHO: Recent Actions Appear to Have Initially Reduced Failures to Deliver, but More Industry Guidance Is Needed, GAO-09-483, May 12, 2009
    * National Geological Carbon Capture Program Can Help Develop Cleaner Energy, Reduce Greenhouse Gases

    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."

  • "The Interior report to Congress, Framework for Geological Sequestration on Public Land...fulfills the requirements of Section 714 of the Energy Independence and Security Act of 2007, also examines existing authorities under the Mineral Leasing Act and the Federal Land Policy and Management Act that could be used to permit carbon sequestration activities."
  • Related postings on climate change
  • * BEA: Economic Slowdown Widespread Among States in 2008

    "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."

  • Related postings on financial system
  • June 02, 2009
    * Further Industry Commitments on Over-the-Counter Derivatives

    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."

  • Related postings on financial system
  • * Available Online - Recordings of GM Bankruptcy Case Hearings

    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"

    * CBO: An Analysis of the Army's Transformation Programs and Possible Alternatives

    An Analysis of the Army’s Transformation Programs and Possible Alternatives, June 2009

  • "CBO addresses the question of whether the Army’s current combat units are better able than their predecessors to respond to crises overseas. CBO also evaluates the effect that the [Future Combat Systems] FCS program included in the previous Administration’s 2009 plan would have had on the Army’s armored vehicle fleet and the combat units that it was expected to equip. In addition, CBO attempts to identify the costs through 2030 of the Army’s Modularity Initiative and the FCS and related modernization programs in the previous Administration’s 2009 plan. Last, the agency examines the advantages and disadvantages of several alternative plans for modernizing the Army’s combat brigades, primarily focusing on units equipped with armored vehicles."

  • * Council of Economic Advisers - Economic Case for Health Care Reform

    Council of Economic Advisers - The Economic Case for Health Care Reform, June 2009

  • "The Council of Economic Advisers (CEA) has undertaken a comprehensive analysis of the economic impacts of health care reform. The report provides an overview of current economic impacts of health care in the United States and a forecast of where we are headed in the absence of reform; an analysis of inefficiencies and market failures in the current health care system; a discussion of the key components of health care reform; and an analysis of the economic effects of slowing health care cost growth and expanding coverage."
  • * Retirement - Official information and services from the U.S. government

    Retirement - USA.gov: links to several dozen topical sites.

  • Related postings on financial system
  • * FBI Releases Preliminary Annual Crime Statistics for 2008

    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."

    June 01, 2009
    * SEC OIG 2009 Semiannual Reports to Congress

    Securities and Exchange Commission (SEC) Office of Inspector General’s (OIG) Semiannual Report to Congress for the period from October 1, 2008 through March 31, 2009.

  • "This report is required by the Inspector General Act of 1978, as amended, and covers the work performed by the OIG during the period indicated. The reporting period was a very eventful and productive one for the OIG. On December 16, 2008, former SEC Chairman Christopher Cox asked me to undertake an investigation into complaints made to the Commission regarding Bernard L. Madoff, who was arrested on December 11, 2008, for running a Ponzi scheme. Former Chairman Cox asked that the OIG investigate the reasons that allegations made to the SEC about Madoff were found to be not credible. Former Chairman Cox also requested that the OIG investigate all staff contact and relationships with the Madoff family and firm and any impact such relationships had on staff decisions regarding the firm. Early on December 17, 2008, we opened an official investigation into the Madoff matter and, since that time, have made substantial progress in the investigation."
  • * Federal Agencies Propose Rule to Implement S.A.F.E. Act Mortgage Loan Originator Registration Requirements

    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."

  • Related postings on financial system
  • * New GAO Reports: FDA Privacy and Security Issues, Federal Employees Health Benefits Program, Nuclear Forensics
    • Defense Management: Observations on DOD's Fiscal Year 2010 Budget Request for Corrosion Prevention and Control, GAO-09-732R, June 01, 2009
    • Privacy and Security: Food and Drug Administration Faces Challenges in Establishing Protections for Its Postmarket Risk Analysis System, GAO-09-355, June 01, 2009
    • Federal Employees Health Benefits Program: Enrollee Cost Sharing for Selected Specialty Prescription Drugs, GAO-09-517R, April 30, 2009
    • Hospital Emergency Departments: Crowding Continues to Occur, and Some Patients Wait Longer than Recommended Time Frames, GAO-09-347, April 30, 2009
    • New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities, GAO-09-536, April 30, 2009
    • Nuclear Forensics: Comprehensive Interagency Plan Needed to Address Human Capital Issues, GAO-09-527R, April 30, 2009
    • Crop Insurance: Opportunities Exist to Reduce the Costs of Administering the Program, GAO-09-445, April 29, 2009
    * U.S. Government Channel on YouTube

    "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."

    * 2009 National Intelligence: A Consumer's Guide

    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."

    * New Travel Requirements In Effect

    "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."

    May 31, 2009
    * Tax collectors worldwide to co-operate in revenue-raising to offset fiscal deficits

    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:

    * New E-Gov Rulemaking Forum Promotes Transparency and Openness in Government

    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."

    * Ranks of Discouraged Workers and Others Marginally Attached to the Labor Force Rise During Recession

    Bureau of Labor Statistics: Ranks of Discouraged Workers and Others Marginally Attached to the Labor Force Rise During Recession

  • "When economic conditions deteriorate, greater attention is paid to persons who are without work and seeking jobs—the unemployed. At such times, there is also greater interest in a group of persons who do not meet the official definition of unemployment but who have shown interest in labor force participation. These individuals—referred to as “marginally attached to the labor force”—wanted and were available for work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not actively searched for work in the past 4 weeks. The number of persons who were marginally attached to the labor force increased sharply during the current recession, rising to 2.1 million in the first quarter of 2009."
  • Related postings on financial system
  • May 30, 2009
    * Government Printing Office Annual Report

    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."

    May 29, 2009
    * Cyberspace Policy Review - Assuring a Trusted and Resilient Information and Communications Infrastructure

    White House: Securing Our Digital Future, Melissa Hathaway, Cybersecurity Chief at the National Security Council, discusses securing our nation's digital future.

  • Cyberspace Policy Review - Assuring a Trusted and Resilient Information and Communications Infrastructure, May 29, 2009: "The President directed a 60-day, comprehensive, “clean-slate” review to assess U.S. policies and structures for cybersecurity. Cybersecurity policy includes strategy, policy, and standards regarding the security of and operations in cyberspace, and encompasses the full range of threat reduction, vulnerability reduction, deterrence, international engagement, incident response, resiliency, and recovery policies and activities, including computer network operations, information assurance, law enforcement, diplomacy, military, and intelligence missions as they relate to the security and stability of the global information and communications infrastructure. The scope does not include other information and communications policy unrelated to national security or securing the infrastructure. The review team of government cybersecurity experts engaged and received input from a broad cross-section of industry, academia, the civil liberties and privacy communities, State governments, international partners, and the Legislative and Executive Branches. This paper summarizes the review team’s conclusions and outlines the beginning of the way forward towards a reliable, resilient, trustworthy digital infrastructure for the future."
  • * FTC Begins Rulemaking to Address Unfair and Deceptive Mortgage Practices

    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."

    * FTC Provides Tips for Saving Money at the Gas Pump and Cooling Your Home

    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."

    * New GAO Reports: Federal Reserve Banks Security Controls, National Preparedness
    • Defense Management: Observations on DOD's Analysis of Options for Improving Corrosion Prevention and Control through Earlier Planning in the Requirements and Acquisition Processes, GAO-09-694R, May 29, 2009
    • Federal Reserve Banks: Areas for Improvement in Information Security Controls, GAO-09-722R, May 29, 2009
    • Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2008 and 2007, GAO-09-409, May 29, 2009
    • Sponsored Noncitizens and Public Benefits: More Clarity in Federal Guidance and Better Access to Federal Information Could Improve Implementation of Income Eligibility Rules, GAO-09-375, May 19, 2009
    • National Preparedness: FEMA Has Made Progress, but Needs to Complete and Integrate Planning, Exercise, and Assessment Efforts, GAO-09-369, May 07, 2009
    May 28, 2009
    * Toward A 21st Century Framework for Federal Government Privacy Policy

    Information Security and Privacy Advisory Board (ISPAB), Toward A 21st Century Framework for Federal Government Privacy Policy, May 2009

  • "[this]...report analyzes issues and makes recommendations around updating privacy law and policy in light of technological change. The Privacy Act of 1974 is the basis for much of the legal and policy framework by which the U.S. Government handles personal information. At the same time, vast changes in technology since 1974 have transformed how Federal agencies collect, use, and distribute information in major ways. While the fundamentals of the Act—the principles of fair information practices remain relevant and current, the letter of the Act and related law and policy may not reflect the realities of current technologies and information systems and do not protect against many important threats to privacy. Moreover, new technologies, not covered by the Act, are generating new questions and concerns; and government use of private‐sector databases now allows the collection and use of detailed personal information with little privacy protections. The attached report examines these issues, and is based on a record that has been developed through the Board’ having heard from numerous panels of experts for several years. The Board provides analysis and makes recommendations for the Administration and Congress to consider."
  • * North American Surface Trade Numbers for March 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."

  • Related postings on financial system
  • * EPA Launches Annual Efforts to Protect Area Beaches, Coastal Waters and New York/New Jersey Harbor

    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."

  • For more information on EPA’s diverse coastal water activities, visit here.
  • * New GAO Reports: FDIC Audit, DOD Gift Fund Policies, U.S. Public Diplomacy
    • Financial Audit: Federal Deposit Insurance Corporation Funds' 2008 and 2007 Financial Statements, GAO-09-535, May 28, 2009
    • Financial Management: DOD Needs to Clarify Its General Gift Fund Policies to Provide for Effective Oversight, GAO-09-486R, May 27, 2009
    • U.S. Public Diplomacy: Key Issues for Congressional Oversight, GAO-09-679SP, May 27, 2009
    * Library of Congress Resources on Supreme Court Nominee Sonia Sotomayor

    Law Library of Congress: Supreme Court Nominations - Sonia Sotomayor

    * The Budgetary Treatment of Proposals to Change the Nation's Health Insurance System

    The Budgetary Treatment of Proposals to Change the Nation's Health Insurance System, May 27, 2009

  • "The Congress is currently considering various approaches for instituting major changes in the nation's system of health insurance. Some of those proposals would signifi­cantly expand the federal government's role in that sys­tem, thus raising the question of how such changes might be reflected in the federal budget. This brief describes the approach that the Congressional Budget Office (CBO) will take in judging the appropriate budgetary treatment."

  • * NIST: Working Definition of Cloud Computing Released

    "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."

    May 27, 2009
    * Tips from FDIC on How to Protect Against Foreclosure Frauds, Easy Money Schemes and Other Costly Deals

    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."

  • Foreclosure Rescue and Loan Modification Scammers Still Prey on Stressed Homeowners: Our Latest Tips
  • Related postings on financial system
  • * Quarterly Report to Congress on International Monetary Fund Lending

    Treasury: Quarterly Report to Congress on International Monetary Fund Lending, January 1 – March 31, 2009

    * FDIC Quarterly Banking Profile

    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."

    * World Energy Use Projected to Grow 44 Percent Between 2006 and 2030

    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."

    * Report on devolution and the governance of England

    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.

  • Report - Devolution: A Decade On - In its report published today, the three-party Committee analyses the "English Question" and the possible answers to it, pointing out that hardly anyone among its witnesses was content with no change, but that there is no consensus on what the changes should be."
  • May 26, 2009
    * GSA launches YouTube channel

    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."

    May 25, 2009
    * Speech by Fed Vice Chair on interactions between monetary and fiscal policy in the current situation

    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."

  • Related postings on financial system
  • * U.S. Government Agencies and Internet Retailers Receive Failing Grade in

    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."

    May 22, 2009
    * New GAO Reports: End-Stage Renal Disease, Federal Transit Administration, Federal Contractors
    • End-Stage Renal Disease: CMS Should Monitor Effect of Bundled Payment on Home Dialysis Utilization Rates, GAO-09-537, May 22, 2009
    • Federal Transit Administration: Progress and Challenges in Implementing and Evaluating the Job Access and Reverse Commute Program, GAO-09-496, May 21, 2009
    • Federal Contractors: Better Performance Information Needed to Support Agency Contract Award Decisions, GAO-09-374, April 23, 2009
    * Treasury OIG: OTS Involvement With Backdated Capital Contributions by Thrifts

    OIG-09-037 – Safety and Soundness: OTS Involvement With Backdated Capital Contributions by Thrifts, May 21, 2009

  • We reviewed the circumstances surrounding the backdating of capital contributions to prior periods at six thrifts and concluded
    that the backdating of these transactions was inappropriate for all six thrifts. For one thrift, the OTS Senior Deputy Director directed the regional office to instruct the holding company to contribute capital and backdate the transaction. For another thrift, IndyMac, an OTS regional director authorized the backdating of the transaction. For a third thrift, OTS objected to backdating the transaction, informed the thrift management not to backdate the transaction, but the thrift proceeded to backdate it anyway. However, in this case, and in the case of two other thrifts where OTS became aware of the backdating after the fact, OTS allowed the backdating to remain. For one of these two other thrifts, OTS did not become aware of the backdating until after the period for amending the thrift’s financial reporting had closed. For the sixth thrift that backdated a transaction, when OTS became aware of the backdating it directed the thrift to reverse the transaction."
  • Related postings on financial system
  • * DOD OIG: Afghanistan Security Forces Fund Phase III, Accountability for Weapons Distributed to Afghanistan National Army

    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)

  • We identified material internal control weaknesses in accounting for weapons provided to the Afghanistan National Army (ANA). Combined Security
    Transition Command-Afghanistan (CSTC-A( did not have a formal process in place to transfer weapons to the ANA. In addition, CSTC-A was unable to account for weapons, including weapons purchased with the ASF Fund. CSTC-A records did not list all weapons by serial number, and accountability systems used at ANA Depot 1 had significant data integrity problems. The CSTC-A Logistics Office has implemented corrective action to address these problems."
  • * Economist: The world's best banks - A short list

    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."

  • Related postings on the financial system
  • * The Best Places to Work in the Federal Government 2009

    "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)."

    May 21, 2009
    * Fact Sheet: Obama Administration National Fuel Efficiency Policy

    "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."

    * New GAO Reports: Endangered Species Act, Hearing on ATC Modernization, FAA Personnel Reform
    • Endangered Species Act: The U.S. Fish and Wildlife Service Has Incomplete Information about Effects on Listed Species from Section 7 Consultations, GAO-09-550, May 21, 2009
    • Fiscal Year 2010 Budget Request: U.S. Government Accountability Office, GAO-09-699T, May 21, 2009
    • Responses to Questions for the Record: March 18, 2009, Hearing on ATC Modernization: Near-Term Achievable Goals, GAO-09-718R, May 20, 2009
    • Effect of Personnel Reform on the Federal Aviation Administration's Budget, GAO-09-645R, May 14, 2009
    • Freight Rail Security: Actions Have Been Taken to Enhance Security, but the Federal Strategy Can Be Strengthened and Security Efforts Better Monitored, GAO-09-243, April 21, 2009
    * Largest Quarterly Decline in Farmland Value Since 1985

    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."

  • Related postings on financial system
  • May 20, 2009
    * Fact Sheets: Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act

    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."

  • Related postings on financial system
  • * Senate Oversight Hearing: Troubled Assets Relief Program

    Oversight of the Troubled Assets Relief Program - The witness was The Honorable Timothy Geithner, Secretary, U.S. Department of the Treasury.

  • Statement by Timothy F. Geithner U.S. Secretary of the Treasury before the Senate Banking Committee, May 20, 2009: "Today, just four months into President Obama’s term of office, there are important indications that our financial system is starting to heal. For example, spreads for investment grade corporate bonds have fallen about 210 basis points and spreads on high yield corporate bonds are down about 770 basis points since the end of November. Spreads on AAA municipal bonds have come down 150 basis points since October. Risk premiums in short-term, inter-bank markets have fallen 280 basis points over roughly the same period and the cost of credit protection for the largest U.S. banks has fallen by about 180 basis points just since early April. Treasury is continuing to look into additional metrics that gauge the markets more broadly, as well as additional economic metrics, to determine the effectiveness of the current strategy and whether additional or different steps are needed."
  • Related postings on financial industry
  • * New GAO Reports: Joint Strike Fighter, Space Acquisitions, USPS, Designated Federal Entities
    • Joint Strike Fighter: Strong Risk Management Essential as Program Enters Most Challenging Phase, GAO-09-711T, May 20, 2009
    • Pension Benefit Guaranty Corporation: Financial Challenges Highlight Need for Improved Governance and Management, GAO-09-702T, May 20, 2009
    • Sovereign Wealth Funds: Laws Limiting Foreign Investment Affect Certain U.S. Assets and Agencies Have Various Enforcement Processes, GAO-09-608, May 20, 2009
    • Space Acquisitions: DOD Faces Substantial Challenges in Developing New Space Systems, GAO-09-705T, May 20, 2009
    • U.S. Postal Service: Network Rightsizing Needed to Help Keep USPS Financially Viable, GAO-09-674T, May 20, 2009
    • Designated Federal Entities: Survey of Governance Practices and the Inspector General Role, GAO-09-270, April 20, 2009
    * PBGC Deficit Climbs to $33.5 Billion at Mid-Year

    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."

  • "The question of PBGC’s governance comes amidst allegations of mismanagement by the agency’s former director, Charles E.F. Millard, who deviated from PBGC’s conservative investment strategy just before the market downturn. In addition, it has been alleged that Millard improperly influenced the procurement process surrounding the restructure of the Corporation’s investments, according to a draft report released by the PBGC Inspector General."

  • May 19, 2009
    * D.C. Circuit Holds Office of Administration Is Not An Agency, Not Subject to FOIA

    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 by President on National Fuel Efficiency Standards

    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."

  • Statement: Automakers Support President in Development of National Program for Autos
  • * New GAO Reports: DOD Personnel Clearances, Information Security, death and Abuse at Residential Programs for Troubled Teens
    • Commonwealth of the Northern Mariana Islands: Coordinated Federal Decisions and Additional Data Are Needed to Manage Potential Economic Impact of Applying U.S. Immigration Law, GAO-09-426T, May 19, 2009
    • DOD Personnel Clearances: Comprehensive Timeliness Reporting, Complete Clearance Documentation, and Quality Measures Are Needed to Further Improve the Clearance Process, GAO-09-400, May 19, 2009
    • Foreign Assistance: Measures to Prevent Inadvertent Payments to Terrorists under Palestinian Aid Programs Have Been Strengthened, but Some Weaknesses Remain, GAO-09-622, May 19, 2009
    • Information Security: Agencies Make Progress in Implementation of Requirements, but Significant Weaknesses Persist, GAO-09-701T, May 19, 2009
    • Seclusions and Restraints: Selected Cases of Death and Abuse at Public and Private Schools and Treatment Centers, GAO-09-719T, May 19, 2009
    * OCC Releases Community Reinvestment Act Information Evaluations For 39 National Banks

    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."

  • Related postings on financial system
  • * EPA Announces Start of Hudson River Dredging

    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."

  • EPA's Hudson River Dredging Data website
  • General Electric’s website for the Dredging Project
  • May 18, 2009
    * FHFA's First Report to Congress Details Annual Examinations of Fannie Mae, Freddie Mac and the Federal Home Loan Banks

    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."

  • FHFA's First Report to Congress Details Annual Examinations of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, May 18, 2009
  • Related postings on financial system
  • * Fact Sheet: IMF Reforms and New Arrangements to Borrow

    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."

  • Related postings on financial system
  • * New GAO Reports: DOD Business Systems Modernization, Military Operations in Afghanistan, DOD National Security Personnel System
    • DOD Business Systems Modernization: Recent Slowdown in Institutionalizing Key Management Controls Needs to Be Addressed, GAO-09-586, May 18, 2009
    • Military Operations: Actions Needed to Improve Oversight and Interagency Coordination for the Commander's Emergency Response Program in Afghanistan, GAO-09-615, May 18, 2009
    • Questions for the Record Related to the Implementation of the Department of Defense's National Security Personnel System, GAO-09-669R, May 18, 2009
    May 17, 2009
    * Interview With White House Budget Director Peter Orszag

    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."

  • Department of Labor Unemployment Insurance Weekly Claims Report, May 14, 2009: "In the week ending May 9, the advance figure for seasonally adjusted initial claims was 637,000, an increase of 32,000 from the previous week's revised figure of 605,000. The 4-week moving average was 630,500, an increase of 6,000 from the previous week's revised average of 624,500...The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.011 million."
  • Related postings on financial system
  • * President Obama and Vice President Biden's Personal Financial Disclosures Now Available

    [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."

    * Available Online: Recordings of Hearings In Chrysler Bankruptcy Case

    "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."

    * Groups Request White House Office of Administration Be Subject to Freedom of Information Act

    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."

    May 16, 2009
    * EPA Hearing on Proposed Endangerment Findings for Greenhouse Gases Under the Clean Air Act

    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."

  • More information on the proposed finding
  • Related postings on climate change
  • May 15, 2009
    * New GAO Reports: Congressional Award Foundation, Military Housing Privatization
    • Financial Audit: Congressional Award Foundation's Fiscal Years 2008 and 2007 Financial Statements, GAO-09-652, May 15, 2009
    • Military Housing Privatization: DOD Faces New Challenges Due to Significant Growth at Some Installations and Recent Turmoil in the Financial Markets, GAO-09-352, May 15, 2009
    * Treasury Releases March Monthly Bank Lending Survey

    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."

    May 14, 2009
    * New GAO Reports: Military Depot Maintenance, Aviation Security
    • Depot Maintenance: Actions Needed to Identify and Establish Core Capability at Military Depots, GAO-09-83, May 14, 2009: "DOD, through its biennial core process, has not comprehensively and accurately assessed whether it has the required core capability to support fielded systems in military depots. Although DOD internally reported that its maintenance workload of 92.7 million hours in 2007 was “well over” the minimum of 70.5 million hours needed to fulfill core requirements at military depots and that the services were complying with their core capability requirements, this assessment did not show capability shortfalls identified by the services in their core computations."
    • Aviation Security: TSA Has Completed Key Activities Associated with Implementing Secure Flight, but Additional Actions Are Needed to Mitigate Risks, GAO-09-292, May 13, 2009: "As of April 2009, TSA had generally achieved 9 of the 10 statutory conditions related to the development of the Secure Flight program and had conditionally achieved 1 condition (TSA had defined plans, but had not completed all activities for this condition). Also, TSA’s actions completed and those planned have reduced the risks associated with implementing the program."
    * Chairmen Rockefeller and Lautenberg Introduce National Surface Transportation Policy Bill

    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."

  • See also Federal Highway Administration, American Recovery and Reinvestment Act of 2009 Implementing Guidance (Updated April 1, 2009)
  • * FDIC OIG Audit: Material Loss Review of Freedom Bank, Bradenton, Florida

    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."

  • Related postings on financial system
  • * Joint Economic Committee Report: Credit Card Bill of Rights Will Aid Economic Recovery

    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."

  • Related postings on financial system
  • * CDC: Pool Chemical Injuries Send Thousands to ER Each Year

    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."

    * Statistics on Terrorism Arrests and Outcomes Great Britain

    Home Office Statistical Bulletin: Statistics on Terrorism Arrests and Outcomes, Great Britain 13 May 2009 - 11 September 2001 to 31 March 2008.

  • "For the period between the start of the data collection on 11 September 2001 to 31 March 2008: There were 1,471 terrorism arrests. This excludes 38 arrests made between the introduction of the Terrorism Act 2000 on 19 February 2001 and 11 September 2001 and 119 stops at Scottish ports under Schedule 7 of the Terrorism Act 2000."
  • * Unified Agenda, May 2009 Edition

    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."

    May 13, 2009
    * Secretary Clinton Launches the Virtual Student Foreign Service Initiative

    "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."

    * EPA Offers Tips to Save Energy and Fight Climate Change this Summer

    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: Alternatives for Modernizing U.S. Fighter Forces, May 2009

    CBO Study: Alternatives for Modernizing U.S. Fighter Forces, May 2009

  • "This Congressional Budget Office (CBO) study looks at the composition of today’s fighter fleets and at how the Department of Defense’s (DoD’s) plans for modernizing fighter forces—as set forth in the Bush Administration’s 2009 Future Years Defense Program (FYDP) and other DoD documents—would affect inventories and warfighting capability over the next several decades."
  • * Treasury: Regulatory Reform Over-The-Counter (OTC) Derivatives

    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..."

  • Related postings on financial system
  • * National Gang Threat Assessment 2009 Released

    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."

    * HUD Makes Nearly $1 Billion Available in Recovery Act Funds to Improve Public Housing

    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."

  • Related postings on financial system
  • * CDC: Changing Patterns of Nonmarital Childbearing in the United States

    CDC/National Center for Health Statistics, Changing Patterns of Nonmarital Childbearing in the United States, May 2009

  • "Childbearing among unmarried women has been the subject of intense public policy and public health concern for decades, much of it reflecting concerns about the impact on family structure and the economic security of children. Nonmarital births are at higher risk of having adverse birth outcomes such as low birthweight, preterm birth, and infant mortality than are children born to married women. Children born to single mothers typically have more limited social and financial resources. This report examines data on nonmarital births from the National Vital Statistics System (NVSS). The principal measures reviewed are the number of births to unmarried women, the birth rate for unmarried women, and the percentage of all births to unmarried women...Childbearing by unmarried women has resumed a steep climb since 2002...Births to unmarried women totaled 1,714,643 in 2007, 26% more than in 2002...Nearly 4 in 10 U.S. births were to unmarried women in 2007....Birth rates have risen considerably for unmarried women in their twenties and over, while declining or changing little for unmarried teenagers."
  • May 12, 2009
    * DOJ Antitrust Division Announces Initiative to Help Protect Recovery Funds from Fraud, Waste and Abuse

    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."

  • The Antitrust Division has also launched a Recovery Initiative Web site through which consumers, contractors and federal, state and local agencies, can review information about the antitrust laws and the Division’s training programs, request training, and report suspicious activity. The Web site is located at http://www.usdoj.gov/atr/public/criminal/economic_recovery.htm."
  • * March Airline On-Time Performance Higher Than Last Year, Down from February

    March Airline On-Time Performance Higher Than Last Year, Down from February (05/12/09)

  • "The nation’s largest airlines had a rate of on-time flights this past March that was higher than the same month last year but down from the mark posted in February 2009, according to the Air Travel Consumer Report released 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 78.4 percent in March, better than the 71.6 percent on-time rate of March 2008 but down from February 2009’s 82.6 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 airline bumping, 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."
  • * CDT Recommends Standards for Use of Analytics Tools on Federal Web Sites

    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."

  • Open Recommendations for the Use of Web Measurement Tools on Federal Government Web Sites Center for Democracy & Technology Electronic Frontier Foundation, May 2009
  • * New GAO Reports: Motor Carrier Safety, Strategic Petroleum Reserve
    • Motor Carrier Safety: Commercial Vehicle Registration Program Has Kept Unsafe Carriers from Operating, but Effectiveness Is Difficult to Measure, GAO-09-495, May 12, 2009
    • Strategic Petroleum Reserve: Issues Regarding the Inclusion of Refined Petroleum Products as Part of the Strategic Petroleum Reserve, GAO-09-695T, May 12, 2009
    • See also related postings on Petroleum Reserve
    * Network Airlines Report Fifth Consecutive Quarterly Loss Margin

    Fourth-Quarter 2008 System Airline Financial Data: Network Airlines Report Fifth Consecutive Quarterly Loss Margin (05/11/09)

  • "The seven largest network airlines, as a group, reported an operating loss margin of 6.7 percent in the fourth quarter of 2008, the fifth consecutive quarterly loss margin since the group reported a profit margin in the third quarter of 2007, the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation reported today in a release of preliminary data. BTS, a part of the Research and Innovative Technology Administration, reported that six of the seven reporting network airlines, most of the industry’s largest carriers, reported an operating loss margin in the October-to-December period. Only Alaska Airlines reported an operating profit."
  • * Council of Economic Advisors: Estimates of job creation from the American Recovery and Reinvestment Act of 2009

    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."

  • Related postings on financial system
  • May 11, 2009
    * Treasury Releases the President's FY2010 Budget 'Greenbook'

    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."

  • Related postings on financial system
  • * Special Inspector General for Iraq Reconstruction Quarterly Report to the United States Congress

    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)

  • "This quarter marked the sixth anniversary of the U.S. entry into Iraq. Since the March 20, 2003, invasion, the Congress has appropriated $51 billion in foreign aid for relief and reconstruction efforts that have touched every aspect of Iraqi society, from training and equipping its security forces to improving the delivery of essential services. These tens of billions in taxpayer dollars were provided chiefly to four major funds: the Iraq Relief and Reconstruction Fund ($20.86 billion), the Iraq Security Forces Fund ($18.04 billion), the Economic Support Fund ($3.74 billion), and the Commander’s Emergency Response Program ($3.5 billion). As of March 31, 2009, the United States had obligated $42.16 billion and expended $37.89 billion for Iraq reconstruction."
  • Related postings on Special Inspector General for Iraq Reconstruction
  • * FTC Alleges That Mortgage Lender Charged Hispanics Higher Prices for Loans

    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."

    * Expanding Health Care Coverage: Proposals to Provide Affordable Coverage to All Americans

    Description of Policy Options Expanding Health Care Coverage: Proposals to Provide Affordable Coverage to All Americans, Senate Finance Committee, May 14, 2009

  • "The U.S. is the only developed country that does not guarantee health coverage for all its citizens, with 46 million uninsured and another 25 million underinsured. Today, the cost of caring for the uninsured is largely borne by those with insurance; providers charge higher prices to patients with private coverage to make up for uncompensated care, and these costs are passed on to consumers in the form of increased premiums. A high-performing health system would guarantee all Americans affordable, quality coverage regardless of age, health status, or medical history. This document outlines policy options for providing affordable health care coverage for all Americans."
  • * DOJ OIG: Review of the Federal Bureau of Investigation’s Disciplinary System

    Review of the Federal Bureau of Investigation's Disciplinary System, Evaluation and Inspections, Report I-2009-002, May 2009

  • "The OIG conducted this review to examine the FBI’s investigations of allegations of misconduct against FBI employees and to assess whether the FBI imposed consistent, reasonable, and timely discipline for misconduct. In this Executive Digest, we first provide a brief overview of the FBI’s disciplinary system, followed by a summary of our results and our recommendations."
  • * New GAO Reports: Federal Rulemaking, IRS Management
    • Federal Rulemaking: Improvements Needed to Monitoring and Evaluation of Rules Development as Well as to the Transparency of OMB Regulatory Reviews, GAO-09-205, April 20, 2009
    • IRS Management: IRS Practices Contribute to Its Resilience, but It Would Benefit from Additional Emergency Planning Efforts, GAO-09-418, April 9, 2009
    * The Final Installment of the FY 2010 Budget

    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."

  • Related postings on financial system
  • May 10, 2009
    * GovFresh - Government 2.0 - Offers Live RSS Updates

    "GovFresh is a live feed of official news from U.S. Government Twitter, YouTube, RSS, Facebook, Flickr accounts and more, all in one place."

  • See also White House Website Adds Links to FaceBook, Twitter, MySpace
  • * A Borrower's Guide to an FDIC Insured Bank Failure

    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."

  • Related postings on financial system
  • * EPA OIG: EPA Does Not Provide Oversight of Radon Testing Accuracy and Reliability

    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."

    * New CBO Reports: Monthly Budget Review, Financing Federal Aviation Programs, Cap-and-Trade Program
    • Monthly Budget Review, May 2009 - Based on the Monthly Treasury Statement for March and the Daily Treasury Statements for April: "The federal government incurred a deficit of close to $800 billion for the first seven months of fiscal year 2009, CBO estimates—$646 billion more than the deficit recorded through April 2008. That estimate includes outlays for the Troubled Asset Relief Program (TARP) measured on a net-present-value basis (adjusted for market risk), consistent with statutory requirements and with the approach used in the President’s budget request for fiscal year 2010, which was transmitted today. On a present-value basis, CBO estimates that outlays for the TARP were $116 billion through April."
    • Financing Federal Aviation Programs, May 7, 2009 - Testimony before the Committee on Ways and Means, U.S. House of Representatives: "In reauthorizing activities of the FAA, particularly modernizing and operating the air traffic control system, the Congress faces a decision about how to split the costs between users of the agency’s services and taxpayers. During recent years, about 75 percent to 85 percent of funding for the FAA has come from users of the air traffic control system through various taxes, while the remaining amount has come from the general fund of the Treasury."
    • The Distribution of Revenues from a Cap-and-Trade Program for CO2 Emissions, May 7, 2009 - Testimony before Committee on Finance, United States Senate: "Under a cap-and-trade program, consumers would ultimately bear most of the costs of emission reductions. Firms that used emission allowances for CO2 would generally pass along to consumers the cost of using those allowances in the form of higher prices for their products—regardless of whether the government sold emission allowances or gave them away. Such price increases would be essential to the success of a cap-and-trade program because they would be the most important mechanism through which businesses and households were encouraged to make investments and behavioral changes that reduced CO2 emissions. see also related postings on climate change].
    May 09, 2009
    * GPO Access: Budget of the United States Government

    Fiscal Year 2010 Budget Documents

    • A New Era of Responsibility: Renewing America’s Promise - "Provides a description of the Obama Administration’s fiscal policies and major budgetary initiatives. This document is an overview of the full Fiscal Year 2010 Budget expected to be released this spring."
    • Appendix - "Contains detailed information on the various appropriations and funds that constitute the budget."

    May 08, 2009
    * New GAO Reports: Statutory Authorities to Prohibit IG Activities, Financial Management Systems, SEC Enforcement Division
    • Statutory Authorities to Prohibit Inspector General Activities, GAO-09-660R, May 08, 2009: "The IG Act provides specific protections intended to help ensure the independence of IG audits and investigations. For example, the IG Act prohibits an agency head from preventing an IG from initiating, carrying out, or completing any audit or investigation, or from issuing any subpoena during the course of any audit or investigation. However, the IG Act authorizes the heads of six agencies to prohibit their respective IGs from carrying out or completing an audit or investigation, or from issuing any subpoena if the head determines that such prohibition is necessary to prevent either the disclosure of certain sensitive information or significant harm to certain national interests."
    • Financial Management Systems: OMB's Financial Management Line of Business Initiative Continues but Future Success Remains Uncertain, GAO-09-328, May 07, 2009
    • Securities and Exchange Commission: Greater Attention Is Needed to Enhance Communication and Utilization of Resources in the Division of Enforcement, GAO-09-613T, May 07, 2009
    * Bureau of Labor Statistics: Employment Situation Summary, April 2009

    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."

  • Related postings on financial system
  • * Government Launches Opportunity.gov

    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."

  • Related postings on financial system
  • May 07, 2009
    * The President’s 2010 Budget

    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

    * Federal Reserve, OCC, and FDIC release results of the Supervisory Capital Assessment Program

    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."

    May 06, 2009
    * Obama Administration Opens Up Government to New World of Social Networking

    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 U.S. General Services Administration now has a terms of service agreement with Facebook, a site with more than 200 million active users and MySpace a leading social portal for connecting people, content and culture. GSA has also reached agreements with Blist which provides a consumer focused service for publishing data on the web, Slideshare a site for sharing of PowerPoint, word and PDF documents and AddThis, a bookmarking and sharing platform reaching more than a half billion users worldwide."
  • * FTC Testifies on Efforts to Combat Foreclosure Rescue and Loan Modification Scams

    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."

  • Related postings on financial system
  • * Joint statement on Treasury Capital Assistance Program and Supervisory Capital Assessment Program

    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."

    * 2008 National Healthcare Quality & Disparities Reports

    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."

    * DOJ OIG Audit: FBI's Terrorist Watchlist Nomination Practices

    The Federal Bureau of Investigation's Terrorist Watchlist Nomination Practices, Audit Report 09-25, May 2009

  • "The federal government’s consolidated terrorist watchlist was created in March 2004 by merging previously separate watchlists that were once maintained by different agencies throughout the federal government. The watchlist is managed by the Federal Bureau of Investigation (FBI), through its supervision of the Terrorist Screening Center (TSC). The watchlist is used by frontline screening personnel at U.S. points of entry and by federal, state, local, and tribal law enforcement officials. Since the establishment of the watchlist in 2004, the FBI has nominated or processed the nominations for more than 68,000 known or The watchlist serves as a critical tool for these screening and law enforcement personnel by notifying the user of possible encounters with known or suspected terrorists and by providing instruction on how to respond to the encounter. Each day the watchlist is updated with new or revised biographical information on known or suspected terrorists gathered by U.S. intelligence and law enforcement agencies, including the FBI."
  • * New GAO Reports: DOD Financial Statement Auditability, Intelligent Mail Benefits, SEC Enforcements Division, Passport Issuance Process
    • Architect of the Capitol: Plans for Renovating the Cannon House Office Building and Garages, GAO-09-673T, May 06, 2009
    • Financial Management: Achieving Financial Statement Auditability in the Department of Defense, GAO-09-373, May 06, 2009
    • U.S. Postal Service: Intelligent Mail Benefits May Not Be Achieved if Key Risks Are Not Addressed, GAO-09-599, May 06, 2009
    • Securities and Exchange Commission: Greater Attention Needed to Enhance Communication and Utilization of Resources in the Division of Enforcement, GAO-09-358, March 31, 2009
    • State Department: Significant Vulnerabilities in the Passport Issuance Process, GAO-09-681T, May 05, 2008
    * Postal Service Ends Second Quarter with $1.9 Billion Loss

    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.

  • Postal Service financial information site
  • May 05, 2009
    * CBO: Potential Impacts of Climate Change in the United States

    Potential Impacts of Climate Change in the United States, May 2009

  • "This paper summarizes the current state of scientific understanding of the potential effects of projected changes in climate and related developments. The paper describes the wide range of potential impacts, including changes in: seasonal weather patterns; the amount and type of precipitation; storms and sea level; regular climate fluctuations; ocean acidity; ecosystems and biodiversity; agriculture, forestry, and fishing; water supply and other infrastructure; and human health. The discussion focuses mainly on projections of impacts in the United States but also refers to impacts elsewhere that could be particularly severe and could indirectly affect the United States. The paper draws from various primary and secondary sources, particularly the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), a major national assessment recently released by the National Science and Technology Council in the Executive Office of the President, and a number of surveys published by the U.S. Climate Change Science Program, which integrates executive-branch research on climate and global change."
  • Related postings on climate change
  • * FTC Testifies on Data Security, Peer-to-Peer File Sharing

    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."

    * EPA Lays out a Plan for the Nation's Increase in Renewable Fuels

    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."

  • Renewable Fuel Standard Program (RFS2) Notice of Proposed Rulemaking: "EPA, under the Energy Independence and Security Act of 2007 is responsible for revising and implementing regulations to ensure that gasoline sold in the United States contains a minimum volume of renewable fuel. The Renewable Fuel Standard program will increase the volume of renewable fuel required to be blended into gasoline from 9 billion gallons in 2008 to 36 billion gallons by 2022. The new RFS program regulations are being developed in collaboration with refiners, renewable fuel producers, and many other stakeholders."
  • * Energy & Commerce Democrats Announce "Cash for Clunkers" Agreement

    "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."

  • Fact Sheet: Cash for Clunkers
  • * New GAO Reports: Cyber Threats and Federal Systems, GAO Oversight
    • Information Security: Cyber Threats and Vulnerabilities Place Federal Systems at Risk, GAO-09-661T, May 5, 2009: "Cyber threats to federal information systems and cyber-based critical infrastructures are evolving and growing. These threats can be unintentional and intentional, targeted or nontargeted, and can come from a variety of sources, such as foreign nations engaged in espionage and information warfare, criminals, hackers, virus writers, and disgruntled employees and contractors working within an organization. Moreover, these groups and individuals have a variety of attack techniques at their disposal, and cyber exploitation activity has grown more sophisticated, more targeted, and more serious. As government, private sector, and personal activities continue to move to networked operations, as digital systems add ever more capabilities, as wireless systems become more ubiquitous, and as the design, manufacture, and service of information technology have moved overseas, the threat will continue to grow."
    • Recovery Act: GAO's Efforts to Work with the Accountability Community to Help Ensure Effective and Efficient Oversight, GAO-09-672T, May 5, 2009: "GAO is carrying out its responsibilities to review the uses of Recovery Act funds and will also target certain areas for additional review using a riskbased approach. GAO’s first bimonthly report examined the steps 16 states, the District of Columbia, and selected localities are taking to use and oversee Recovery Act funds. These states contain about 65 percent of the U.S. population and are estimated to receive about two-thirds of the intergovernmental grant funds available through the Recovery Act. GAO’s report made several recommendations to the Office of Management and Budget (OMB) toward improving accountability and transparency requirements; clarifying the Recovery Act funds that can be used to support state efforts to ensure accountability and oversight; and improving communications with Recovery Act funds recipients."
    • Related postings on financial system
    * GPO Relaunches GPO.gov

    "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."

    * Testimony by Chairman Bernanke on the economic outlook

    Chairman Ben S. Bernanke, The economic outlook - Before the Joint Economic Committee, U.S. Congress, Washington, D.C., May 5, 2009

  • "The U.S. economy has contracted sharply since last autumn, with real gross domestic product (GDP) having dropped at an annual rate of more than 6 percent in the fourth quarter of 2008 and the first quarter of this year. Among the enormous costs of the downturn is the loss of some 5 million payroll jobs over the past 15 months. The most recent information on the labor market--the number of new and continuing claims for unemployment insurance through late April--suggests that we are likely to see further sizable job losses and increased unemployment in coming months."
  • Related postings on financial system
  • * EPA Does Not Provide Oversight of Radon Testing Accuracy and Reliability

    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 Lifecycle Analysis of Greenhouse Gas Emissions from Renewable Fuels, EPA-420-F-09-024, May 2009

  • "As part of proposed revisions to the National Renewable Fuel Standard program (commonly known as the RFS program), EPA analyzed lifecycle greenhouse gas (GHG) emissions from increased renewable fuels use. The Energy Independence and Security Act of 2007 (EISA) establishes new renewable fuel categories and eligibility requirements. EISA sets the first U.S. mandatory lifecycle GHG reduction thresholds for renewable fuel categories, as compared to those of average petroleum fuels used in 2005. The regulatory purpose of the lifecycle greenhouse gas emissions analysis is to determine whether renewable fuels meet the GHG thresholds for the different categories of renewable fuel."
  • May 04, 2009
    * Federal Reserve Board - April 2009 Senior Loan Officer Opinion Survey

    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

  • "The April 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, loans to businesses and households over the previous three months. The survey also included two sets of special questions: The first set asked banks about their expectations for delinquencies and charge-offs on existing loans to business and households; the second set queried banks about international trade finance. This article is based on responses from 53 domestic banks and 23 U.S. branches and agencies of foreign banks."
  • Related postings on financial system
  • * EU Commissioner Reding calls for full privatisation and full accountability of ICANN as of 1 October

    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."

  • Related postings on ICANN
  • * Treasury: Leveling the Playing Field: Curbing Tax Havens and Removing Tax Incentives for Shifting Jobs Overseas

    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."

  • Related postings on financial system
  • * New GAO Reports: Graduate Medical Education, Managing Army Force Growth
    • Graduate Medical Education: Trends in Training and Student Debt, GAO-09-438R, May 4, 2009
    • Military Personnel: Army Needs to Focus on Cost-Effective Use of Financial Incentives and Quality Standards in Managing Force Growth, GAO-09-256, May 4, 2009
    * Spring forecasts 2009-2010: a tough 2009, but EU economy set to stabilise as support measures take effect

    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."

  • Related postings on financial system
  • * Solving the Puzzle: Researching the Impacts of Climate Change Around the World

    National Science Foundation - Solving the Puzzle: Researching the Impacts of Climate Change Around the World, released May 1, 2009.

  • "This report addresses some of the major questions facing climate change researchers, and how those puzzles are being addressed by NSF-funded activities. Complex computer models are being developed and refined to predict Earth’s future climate. Observations of climate conditions from observatory networks distributed in Earth’s oceans, polar regions, land masses, and near-
    Earth orbit improve the accuracy of the climate models. Records of Earth’s past climate provide important insights into the mechanisms involved in climate cycles of the past, and can help to refine computational models by allowing researchers to simulate past climate. But understanding climate is only part of the story—as we improve our knowledge of how Earth’s climate is changing, we also improve our ability to cope with the impacts of global climate change and variability. Through social, economic, and behavioral science, researchers are learning how human behavior factors into climate change—and how human behavior can be modified to ameliorate our impact on Earth’s climate. Physical scientists and engineers are developing alternative ways of creating, storing, and using energy to reduce the amount of carbon that human activities contribute to the atmosphere. Researchers are also building the scientific foundation for the tools that humanity may need in the future to counteract the eff ects of global climate change."
  • Related postings on climate change
  • * CIA - A Tradecraft Primer: Structured Analytic Techniques for Improving Intelligence Analysis

    A Tradecraft Primer: Structured Analytic Techniques for Improving Intelligence Analysis, Prepared by the US Government, March 2009

  • "Using the analytic techniques contained in this primer will assist analysts in dealing with the perennial problems of intelligence: the complexity of international developments, incomplete and ambiguous information, and the inherent limitations of the human mind. Understanding the intentions and capabilities of adversaries and other foreign actors is challenging, especially when either or both are concealed. Moreover, transnational threats today pose even greater complexity, in that they involve multiple actor —including nonstate entities—that can adapt and transform themselves faster than those who seek to monitor and contain them. Finally, globalization has increased the diversity of outcomes when complex, interactive systems such as financial flows, regional economies or the international system as a whole are in flux."
  • * National Counterterrorism Center 2008 Report on Terrorism

    National Counterterrorism Center 2008 Report on Terrorism, 30 April 2009

  • "Consistent with its statutory mission to serve as the United States (US) government's knowledge bank on international terrorism, the National Counterterrorism Center (NCTC) is providing the Department of State with required statistical information to assist in the satisfaction of its reporting requirements under Section 2656f of title 22 of the US Code (USC). The statistical information included in this Annex to the 2008 Country Reports on Terrorism is drawn from the data that NCTC maintains on the www.nctc.gov website."
  • 2008 Country Reports on Terrorism Press Conference Slides
  • Related postings on terrorism
  • * White Paper: Defending Australia in the Asia Pacific Century: Force 2030

    Australian Government, Department of Defense White Paper: Defending Australia in the Asia Pacific Century: Force 2030, May 2, 2009.

  • "The global economic crisis is the most fundamental economic challenge facing this Government. At times such as these, the Government must be fiscally responsible. It would be reckless to commit substantial new resources to Defence while uncertainty surrounding the crisis remains. This new Defence White Paper explains how the Government plans to strengthen the foundations of Australia's defence. It sets out the Government's plans for Defence for the next few years, and how it will achieve those plans. Most importantly, it provides an indication of the level of resources that the Government is planning to invest in Defence over coming years and what the Government, on behalf of the Australian people, expects in return from Defence."
  • May 03, 2009
    * New Survey: Satisfaction with E-Gov Stumbles

    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."

    * THOMAS Launches First RSS Feed

    "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]

    * U.S. Geological Survey Study Demonstrates How Methylmercury, Known to Contaminate Seafood, Originates in the Ocean

    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."

  • Mercury sources, distribution and bioavailability in the North Pacific Ocean--Insights from data and models and information on other USGS mercury research
  • * Quarterly Public-Employee Retirement Systems Survey: 4th Quarter 2008

    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."

    May 02, 2009
    * Free access to world-renowned public health database to assist swine flu effort

    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."

  • Direct link to Global Health current and archival databases search engine.
  • * Senate Passes Judiciary Committee-Reported Anti-Fraud Legislation

    "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."

    May 01, 2009
    * FDA, FTC Warn Public of Fraudulent 2009 H1N1 Influenza Products

    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."

    * White House Website Adds Links to FaceBook, Twitter, MySpace

    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.

    April 30, 2009
    * White House Highlights Agency Progress Reports

    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:

    * New GAO Reports: Health Resources and Services Administration, Higher Education, New DOD Space Systems, Nation's Long-Term Fiscal Outlook
    • Defense Acquisitions: Charting a Course for Lasting Reform, GAO-09-663T, April 30, 2009
    • Health Resources and Services Administration: Many Underserved Areas Lack a Health Center Site, and Data Are Needed on Service Provision at Sites, GAO-09-667T, April 30, 2009
    • Higher Education: Approaches to Attract and Fund International Students in the United States and Abroad, GAO-09-379, April 30, 2009
    • Space Acquisitions: Government and Industry Partners Face Substantial Challenges in Developing New DOD Space Systems, GAO-09-648T, April 30, 2009
    • The Nation's Long-Term Fiscal Outlook: March 2009 Update, GAO-09-405SP, April 30, 2009
    • U.S. Customs and Border Protection's Secure Border Initiative Fiscal Year 2009 Expenditure Plan, GAO-09-274R, April 30, 2009
    • Financial Literacy and Education Commission: Progress Made in Fostering Partnerships, but National Strategy Remains Largely Descriptive Rather Than Strategic, GAO-09-638T, April 29, 2009
    • Recovering Servicemembers: DOD and VA Have Made Progress to Jointly Develop Required Policies but Additional Challenges Remain, GAO-09-540T, April 29, 2009
    * Chrysler Announces Alliance with Fiat and Files Chapter 11

    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."

    * Hearing: Swine Flu Outbreak and the U.S. Federal Response

    "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.

  • Related resources on swine flu
  • * Association of Health Care Journalists Resources on Flu

    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..."

  • Related postings on swine flu
  • * Public Papers of the Presidents of the United States: George W. Bush Book II - July 1 to September 30, 2004

    Public Papers of the Presidents of the United States: George W. Bush

  • "Each Public Papers volume contains the papers and speeches of the President of the United States that were issued by the Office of the Press Secretary during the specified time period. The material is presented in chronological order, and the dates shown in the headings are the dates of the documents or events. In instances when the release date differs from the date of the document itself, that fact is shown in the textnote. Files are available in ASCII text and PDF formats."

  • April 29, 2009
    * Treasury: Protecting American Credit Card Owners

    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."

  • WSJ: "President Barack Obama stepped up pressure to overhaul credit-card regulations, targeting banks and card issuers that are boosting fees and tightening lending during the recession. After meeting with industry executives at the White House on Thursday, Mr. Obama said consumer protections have "been out of balance" with credit-card companies' interests. He said his administration would work with lawmakers to shape legislation."
  • Related postings on financial system
  • * BEA: Gross Domestic Product - First Quarter 2009

    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."

  • Related postings on financial system
  • * New GAO Reports: Recovery Act, Civil Rights Issues, VA Health Care
    • Recovery Act: Consistent Policies Needed to Ensure Equal Consideration of Grant Applications, GAO-09-590R, April 29, 2009
    • Recovery Act: Initial Results on States' Use of and Accountability for Transportation Funds, GAO-09-597T, April 29, 2009
    • U.S. Department of Agriculture: Recommendations and Options Available to the New Administration and Congress to Address Long-Standing Civil Rights Issues, GAO-09-650T, April 29, 2009
    • VA Health Care: Challenges in Budget Formulation and Issues Surrounding the Proposal for Advance Appropriations, GAO-09-664T, April 29, 2009
    • Information Technology: Management and Oversight of Projects Totaling Billions of Dollars Need Attention, GAO-09-624T, April 28, 2009
    * Brennan Center for Justice - Transparency in the First 100 Days: A Report Card

    "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."

    * Human Rights Commitments and Pledges of the United States of America

    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."

    * Tracking the Swine Flu in the United States and Around the World

    By Dan Mitchel, California State Library, this resource guide to selected reliable sources for tracking the global status of the swine flu:

    April 28, 2009
    * NYCStat Stimulus Tracker

    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."

  • Related postings on financial system
  • * New GAO Reports: Acquisition Workforce, Social Security Administration, USAID, Gender Pay Gap
    • Acquisition Workforce: DOD Can Improve Its Management and Oversight by Tracking Data on Contractor Personnel and Taking Additional Actions, GAO-09-616T, April 28, 2009
    • Bureau of Public Debt: Areas for Improvement in Information Security Controls, GAO-09-633R, April 28, 2009
    • Fiscal Year 2010 Budget Request: U.S. Government Accountability Office, GAO-09-587T, April 28, 2009
    • Social Security Administration: Effective Information Technology Management Essential for Data Center Initiative, GAO-09-662T, April 28, 2009
    • USAID Acquisition and Assistance: Challenges Remain in Developing and Implementing a Strategic Workforce Plan, GAO-09-607T, April 28, 2009
    • Women's Pay: Converging Characteristics of Men and Women in the Federal Workforce Help Explain the Narrowing Pay Gap, GAO-09-621T, April 28, 2009
    • Women's Pay: Gender Pay Gap in the Federal Workforce Narrows as Differences in Occupation, Education, and Experience Diminish, GAO-09-279, March 17, 2009
    • Telecommunications: Information on Participation in the E-rate Program (GAO-09-254SP, March 2009), an e-supplement to GAO-09-253 GAO-09-254SP, April 27, 2009
    • Telecommunications: Long-Term Strategic Vision Would Help Ensure Targeting of E-rate Funds to Highest-Priority Uses, GAO-09-253, March 27, 2009
    * CBO: U.S. Overview: When Will Growth Resume? and Infrastructure Projects as Economic Stimulus

    Milken Institute Global Conference, April 2009, Presentation by CBO Director Douglas Elmendorf

    * Obama Administration Announces New Details on Making Home Affordable Program

    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."

    * Feingold Issues 100 Day Report on Obama's Actions to Restore the Rule of Law

    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 CIO Seeks "context-driven government"

    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."

    April 27, 2009
    * Survey Says: White House Gets Low Marks Online

    "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."

    * Federal Reserve Bank of Dallas: Texas Manufacturing Outlook Survey

    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."

    * CDC Swine Influenza (Flu) Portal

    Follow up to previous postings on swine flu, see the CDC Swine Influenza (Flu) Portal

  • "...CDC activated its Emergency Operations Center to coordinate the agency's response to this emerging health threat and yesterday the Secretary of the Department Homeland Security, Janet Napolitano, declared a public health emergency in the United States. This will allow funds to be released to support the public health response. CDC's goals during this public health emergency are to reduce transmission and illness severity, and provide information to assist health care providers, public health officials and the public in addressing the challenges posed by this newly identified influenza virus. To this end, CDC has issued a number of interim guidance documents in the past 24 hours. In addition, CDC's Division of the Strategic National Stockpile (SNS) is releasing one-quarter of its antiviral drugs, personal protective equipment, and respiratory protection devices to help states respond to the outbreak."
  • * Special Inspector General for Iraq Reconstruction Issues New Audit Reports
    • 09-014 - Security Forces Logistics Contract Experienced Certain Cost, Outcome, and Oversight Problems, April 26, 2009: "This report discusses one of the largest Department of Defense contracts funded by the Iraq Security Forces Fund [As of January 31, 2009, the value of the three task orders issued under the AECOM contract for this purpose was $628.2 million]. The contract was awarded to AECOM Government Services (AECOM) for Global Maintenance and Supply Services in Iraq (GMASS). This contract supports a Multi-National Security Transition Command-Iraq (MNSTC-I) program to assist the Iraqi Army develop a logistics capability so that it can be self-sufficient."
    • 09-016 - Asset-transfer Process for Iraq Reconstruction Projects Lacks Unity and Accountability, April 26, 2009: "U.S. Iraq reconstruction agencies have yet to develop a uniform process and procedure for transferring completed projects to the GOI. Each U.S. agency has its own internal process for transferring assets to the Iraqis. Management oversight of the process lacks clear authority and accountability, a core problem that SIGIR has identified in previous asset-transfer reports."
    • 09-017 - Need To Enhance Oversight of Theater-Wide Internal Security Services Contracts, April 24, 2009: "Private security contractors (PSCs) play an important role in Iraq by protecting U.S. personnel, facilities, and property related to reconstruction efforts. In September 2007, the Department of Defense (DoD) competitively awarded five Theater-Wide Internal Security Services (TWISS) contracts to five PSCs for static, or fixed site security services in Iraq. The contracts have a combined not-to-exceed maximum value of $450 million. The companies are among the seven largest private security service providers in Iraq."
    April 26, 2009
    * Online Resources to Track and Monitor National and Global Course of Human Swine

  • New York Timez: U.S. Declares Public Health Emergency Over Swine Flu
  • Global Disease Health Map
  • Google Maps: H1N1 Swine flu in 2009 - Pink markers are suspect / Purple markers are confirmed / Deaths lack dot in marker/ Yellow markers are negative
  • MSN Live Search - 2009 Swine Flu H1N1 Outbreak and Migration Map - outbreaks and migration paths reported from news and government agencies. The map lists reported dates and paths of infected persons traveling.
  • Update to CDC: Key Facts about Swine Influenza (Swine Flu), Human Swine Influenza Investigation, April 26, 2009: Centers for Disease Control and Prevention, "Human cases of swine influenza A (H1N1) virus infection have been identified in the United States. Human cases of swine influenza A (H1N1) virus infection also have been identified internationally. The current U.S. case count is provided here."
  • * New GAO Reports: Defense Acquisitions, Environmental Satellites, Recovery Act, Foreign Aid Reform, Transportation Security

  • Defense Acquisitions: Actions Needed to Ensure Value for Service Contracts, GAO-09-643T, April 23, 2009.
  • Geostationary Operational Environmental Satellites: Acquisition Has Increased Costs, Reduced Capabilities, and Delayed Schedules, GAO-09-596T, April 23, 2009
  • Recovery Act: As Initial Implementation Unfolds in States and Localities, Continued Attention to Accountability Issues Is Essential, GAO-09-631T, April 23, 2009
  • Recovery Act: As Initial Implementation Unfolds in States and Localities, Continued Attention to Accountability Issues Is Essential, GAO-09-580, April 23, 2009
  • Related postings on the American Recovery and Reinvestment Act of 2009 (Recovery Act)
  • Improper Payments: Progress Made but Challenges Remain in Estimating and Reducing Improper Payments, GAO-09-628T, April 22, 2009
  • Commercial Aviation: Airline Industry Contraction Due to Volatile Fuel Prices and Falling Demand Affects Airports, Passengers, and Federal Government Revenue, GAO-09-393, April 21, 2009
  • Foreign Aid Reform: Comprehensive Strategy, Interagency Coordination, and Operational Improvements Would Bolster Current Efforts, GAO-09-192, April 17, 2009
  • Geostationary Operational Environmental Satellites: Acquisition Is Under Way, but Improvements Needed in Management and Oversight, GAO-09-323, April 02, 2009
  • Transportation Security: Comprehensive Risk Assessments and Stronger Internal Controls Needed to Help Inform TSA Resource Allocation, GAO-09-492, March 27, 2009
  • * New GAO Report: Summary of Government Efforts and Automakers' Restructuring to Date

    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."

  • AP: GM to announce brand changes, restructuring moves
  • Related postings on General Motors and Chrysler and the financial system
  • April 25, 2009
    * CDC: Key Facts about Swine Influenza (Swine Flu)

    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."

  • Related Links - INFLUENZA: Pigs, People and Public Health (Fact Sheet)External Web Site Policy
  • * CBO: Background Paper: How CBO Estimates the Costs of Reducing Greenhouse-Gas Emissions

    Background Paper: How CBO Estimates the Costs of Reducing Greenhouse-Gas Emissions, April 2009

  • "Households and businesses in a modern industrial economy like that of the United States emit a number of different greenhouse gases through a wide variety of activities—any or all of which might be regulated under a mitigation program. The Environmental Protection Agency (EPA) estimates that, in 2006, U.S. emissions of greenhouse gases amounted to nearly 7.1 billion metric tons of carbon dioxide equivalent (MT CO2e)—about 85 percent in the form of carbon dioxide (CO2), 8 percent in the form of methane (CH4), 5 percent in the form of nitrous oxide (N2O), and 2 percent in the form of other (mainly fluorinated) gases. About 86 percent of those emissions (including most of the CO2 emissions) were directly related to the generation and consumption of energy, while the remaining 14 percent came from industrial and agricultural processes as diverse as the production of cement and the management of landfills, wastewater, and agricultural soils. About 94 percent of the CO2 was emitted directly through the combustion of fossil fuels—40 percent from petroleum products, 35 percent from coal, and 19 percent from natural gas. The generation of electricity accounted for about 34 percent of total greenhouse-gas emissions; if emissions from electricity generation are attributed to the sectors that consume the electricity, industry accounted for about 29 percent of total greenhouse gas emissions; transportation accounted for 28 percent; commercial and residential activities accounted for about 17 percent each, and agriculture accounted for about 8 percent. Those emissions were partially offset by the net absorption of roughly 900 million metric tons of CO2 by the nation’s forests and soils."
  • Related postings on climate change
  • April 24, 2009
    * Financial Stability Oversight Board Issues Report on the Emergency Economic Stabilization Act

    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."

  • Quarterly Report to Congress pursuant to section 104(g) of the
    Emergency Economic Stabilization Act of 2008 For the quarter ending
    March 31, 2009

  • Related postings on financial system
  • * List of 19 Banks Undergoing Stress Tests

    WSJ: The government confirmed the following list of the 19 banks undergoing stress tests.

  • WSJ: "The U.S. government may end up acquiring a significant ownership stake in banks as it works to stabilize the financial system, according to a draft report from top regulators -- the starkest acknowledgment yet of the extent to which the government could become intertwined with the financial system. The draft report from the Financial Stability Oversight Board, which consists of officials from the Federal Reserve and the Treasury Department, among others, says U.S. ownership of individual firms "is not an objective," and that any such occurrence would be temporary."
  • Related postings on financial system
  • * White paper on process and methodologies employed by federal banking supervisory agencies in capital assessment of large U.S. bank holding companies

    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."

    * Federal Reserve System publishes annual financial statements

    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."

  • The Federal Reserve System financial statements may be accessed here".
  • Related postings on financial system
  • April 23, 2009
    * BLS Economic News Release: Mass Layoffs in March 2009

    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."

  • Related postings on financial system
  • * GPO Launches Federal Digital System (FDsys)

    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."

    April 22, 2009
    * New GAO Reports: Aviation Safety, Unsafe Consumer Products, Homeland Defense, Human Capital, Hazardous Materials
    • Aviation Safety: Potential Strategies to Address Air Ambulance Safety Concerns, GAO-09-627T, April 22, 2009
    • Coast Guard: Update on Deepwater Program Management, Cost, and Acquisition Workforce, GAO-09-620T, April 22, 2009
    • Feasibility of Requiring Financial Assurances for the Recall or Destruction of Unsafe Consumer Products, GAO-09-512R, April 22, 2009
    • Homeland Defense: Actions Needed to Address Management of Air Sovereignty Alert Operations to Protect U.S. Airspace, GAO-09-612T, April 22, 2009
    • Human Capital: Sustained Attention to Strategic Human Capital Management Needed, GAO-09-632T, April 22, 2009
    • Defense Management: DOD Needs to Improve Program Management, Policy, and Testing to Enhance Ability to Field Operationally Useful Non-lethal Weapons, GAO-09-344, April 21, 2009
    • Financial Audit: Material Weaknesses in Internal Control Continue to Impact Preparation of the Consolidated Financial Statements of the U.S. Government, GAO-09-387, April 21, 2009
    • Hazardous Materials: Status of EPA's Efforts to Assess Sites That May Have Received Asbestos-Contaminated Ore from Libby, Montana, GAO-09-6R, March 10, 2009
    * Federal Agencies Issue Clarifications to Credit Card Rules

    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."

    * President Obama, Secretary Salazar Announce Framework for Renewable Energy Development on the U.S. Outer Continental Shelf

    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."

    * Report: Tax Expenditures for Energy Production and Conservation

    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 Senate Committee on Finance has scheduled a public hearing on April 23, 2009, titled Technology Neutrality in Energy Tax: Issues and Options. Since 2004, the Congress has been very active in promulgating legislation related to energy production (including oil and gas and renewables) and conservation. Part II of this document, prepared by the staff of the Joint Committee on Taxation, provides a description of present law tax expenditures for energy production and conservation. These tax provisions vary widely, and are summarized in the tables that follow. In addition to the energy specific tax expenditures, energy sector producers and manufacturers may also benefit from other general tax expenditures, such as the section 199 deduction for income attributable to domestic production activities, additional first year depreciation (“bonus depreciation”), the lower rates of tax on the first $10 million of corporate taxable income, and, in general, the deferral of tax on active business income derived by foreign subsidiaries."

  • * FDIC - 2009 Economic Landscape: How the Recession Is Unfolding across Four U.S. Regions

    The 2009 Economic Landscape: How the Recession Is Unfolding across Four U.S. Regions

  • "Events in the U.S. and global financial markets are powerful drivers of the recession that began in 2007. However, this economic downturn is unfolding in unique ways across the various regional economies. The following series of articles takes a closer look at the distinct way that this recession is playing out in four major regions of the country."
  • Related postings on financial system
  • * Budget 2009 Building Britain's Future

    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...

  • Related postings on the financial system
  • * Slate: An interactive map of vanishing employment across the country

    When Did Your County's Jobs Disappear? An interactive map of vanishing employment across the country, by Chris Wilson

  • "The economic crisis, which has claimed more than 5 million jobs since the recession began, did not strike the entire country at once. A map of employment gains or losses by county tells the story of how those job losses first struck in the most vulnerable regions and then spread rapidly to the rest of the country. As early as August 2007, for example—several months before the recession officially began—jobs were already on the decline in southwest Florida; Orange County, Calif.; much of New Jersey; and Detroit, while other areas of the country remained on the uptick. Using the Labor Department's local area unemployment statistics, Slate presents the recession as told by unemployment numbers for each county in America."
  • Related postings on financial system
  • April 21, 2009
    * New on LLRX.com - FOIA Facts: DOJ AG Issues New Guidelines Establishing a System for Improving Transparency

    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

    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."

    * Treasury Secretary'sTestimony Before Congressional Oversight Panel
    • Secretary Geithner Opening Statement Before the Congressional Oversight Panel, April 21, 2009: "Today I will outline the steps taken by the Obama Administration to restore the flow of credit to get our economy back on track and Americans back to work."
    • Secretary Geithner Written Testimony Congressional Oversight Panel, April 21, 2009: "The challenges that our financial system faces are complex, interrelated, and the result of developments over many years. Earlier in this decade, a combination of fundamental factors and financial innovations generated unsustainable bubbles in many housing markets across the country. When those bubbles began to burst, starting in early 2006, housing price declines led to a sharp acceleration in mortgage delinquencies and charge-offs. Those unanticipated losses revealed deep-seated problems in our financial and economic systems. A protracted period of rapid innovation, excessive risk taking, and inadequate regulation produced a financial system that was far more fragile than was generally appreciated during the boom times."
    • Related postings on financial system
    * News GAO Reports: Congressional Oversight on Afghanistan, Iraqi Refugee Assistance, OPM Retirement Modernization Planning
    • Afghanistan: Key Issues for Congressional Oversight, GAO-09-473SP, April 21, 2009: "Security in Afghanistan has worsened significantly in the last 3 years, impeding both U.S. and international partners' efforts to stabilize and rebuild the country. The security situation, including the overall increase in insurgent attacks from 2005 to 2008, is the result of a variety of factors including a resurgence of the Taliban in the south, the limited capabilities of Afghan security forces, a continuing and thriving illicit drug trade in the south, and the threat emanating from insurgent safe havens in Pakistan. Between fiscal years 2002 and 2009, the United States provided approximately $38.6 billion to support Afghanistan's reconstruction goals, which can often be characterized as construction."
    • Iraqi Refugee Assistance: Improvements Needed in Measuring Progress, Assessing Needs, Tracking Funds, and Developing an International Strategic Plan, GAO-09-120, April 21, 2009
    • Office of Personnel Management: Retirement Modernization Planning and Management Shortcomings Need to Be Addressed, GAO-09-529, April 21, 2009
    * OCC Consumer Tips for Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams

    "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."

  • Related postings on financial system
  • * Senate Armed Services Committee Inquiry Into the Treatment Of Detainees In U.S. Custody

    Unclassified and Redacted - Inquiry Into the Treatment Of Detainees In U.S. Custody, November 20, 2008 (Released, April 22, 2009) (263 pages, PDF)

  • "The abuse of detainees in U.S. custody cannot simply be attributed to the actions of "a few bad apples" acting on their own. The fact is that senior officials in the United States government solicited information on how to use aggressive techniques, redefined the law to create the appearance of their legality, and authorized their use against detainees. Those efforts damaged our ability to collect accurate intelligence that could save lives, strengthened the hand of our enemies, and compromised our moral authority. This report is a product of the Committee's inquiry into how those unfortunate results came about."
  • Related postings on torture
  • * Special IG - Troubled Asset Relief Program - Report to Congress

    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."

  • Related postings on financial system
  • * New York "Gas Card" Program for Job Seekers Expanded Statewide

    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."

  • Related postings on financial system
  • April 20, 2009
    * Cabinet Asked to Cut $100 Million in 90 days

    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..."

  • Related postings on financial system
  • * New GAO Reports: Army Health Care, Drug Control
    • Army Health Care: Progress Made in Staffing and Monitoring Units that Provide Outpatient Case Management, but Additional Steps Needed, GAO-09-357, April 20, 2009
    • Drug Control: Better Coordination with the Department of Homeland Security and an Updated Accountability Framework can Further Enhance DEA's Efforts to Meet Post-9/11 Responsibilities, GAO-09-63, March 20, 2009
    * Health Information Technology for Economic and Clinical Health Breach Notification Guidance

    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)."

  • House Committee on Science and Technology - website on the Health Information Technology for Economic and Clinical Health Act (HITECH Act)
  • * 21st Century Energy Technology Deployment Act

    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."

  • CEDA Summary: "The 21st Century Energy Technology Deployment Act will implement a series of reforms to the existing Department of Energy (DOE) loan guarantee program, including creating a new “Clean Energy Investment Fund” to allow collected costs and payments be used to support more technology deployment. The bill would also create a new entity housed in DOE, the Clean Energy Deployment Administration (CEDA), with strong financial expertise and with a specific purpose to create an attractive investment environment for the development and deployment new clean energy technologies. Once the Secretary and the Administrator of CEDA agree it is ready, the Clean Energy Investment Fund becomes the seed fund for the new entity."
  • CEDA Joint Discussion Draft
  • April 19, 2009
    * AP Investigation: Tons of Released Drugs Taint US Water

    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."

    * EIA: U.S. Coal Supply and Demand, OPEC Revenues Fact Sheet
    • An Updated Annual Energy Outlook 2009 Reference Case (04/17/2009): "This report updates the Reference Case presented in the Annual Energy Outlook 2009 based on recently enacted legislation and the changing macroeconomic environment.
    • U.S. Coal Supply and Demand: 2008 Review (04/15/2009): "This article provides an overview of the year 2008 in the coal industry and covers coal production, consumption, exports, imports, stocks, and delivered coal prices. It provides detailed regional and State-level coal production, national coal consumption, and some of the developments that occurred in the coal industry in 2008."
    • OPEC Revenues Fact Sheet (04/14/2009): "Based on projections from the EIA April 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $476 billion of net oil export revenues in 2009 and $598 billion in 2010. Last year, OPEC earned $970 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $287 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,686 in 2008, a 40 percent increase from 2007."
    • Short-Term Energy and Summer Fuels Outlook April 2009 (04/14/2009): "Short-term energy projections for supply, demand, and price for the major fuels through 2010 for the U.S. with a special emphasis on the 2009 summer outlook for transportation fuels. Global oil forecasts are also included.
    • International Petroleum Monthly - March 2009 (04/13/2009): "This report contains world petroleum production data through January 2009; and OECD country petroleum demand, imports, and stocks data through December 2008, the Fourth Quarter of 2008 and the Year 2008. Also included are international oil balance data for 2004-2008 and annual petroleum data series for 1970-2008. Please see What's New in the International Petroleum Monthly for details of an important revision in this month's report - a revised OPEC aggregate that excludes Indonesia. (Note: Archive copies of Excel format tables from the October 2002-Current Editions of the International Petroleum Monthly are available at: http://www.eia.doe.gov/emeu/ipsr/IPMbackissues.html)"
    * President Obama's FOIA Memorandum and Attorney General Holder's FOIA Guidelines

    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."

    * Middle Class Task Force Report: College Affordability

    Staff Report - Financing the Dream: Securing College Affordability for the Middle Class

  • "A central goal of the White House Task Force on the Middle Class is to ensure that public policy is helping middle-class families to realize their aspirations. At the heart of those aspirations is the deep-seated desire of parents to ensure that their children have the opportunity to realize their potential. For many families, this means making sure their children can afford a college education. And for many of those same families, this challenge has been growing for years, such that today, paying for college strains many family budgets to the breaking point. This staff report focuses on the challenges of paying for college in America today. The report briefly outlines the problem before turning to potential solutions."
  • April 18, 2009
    * NYT: F.B.I. and States Vastly Expand DNA Databases

    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."

    * President Obama Discusses Efforts to Reform Spending, Government Waste; Names Chief Performance Officer and CTO

    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."

  • "President Barack Obama announced that Jeffrey Zients, a CEO, management consultant and entrepreneur, will join the administration as the Chief Performance Officer, and that Aneesh Chopra, Virginia’s Secretary of Technology, will serve as the Chief Technology Officer."
  • Related postings on financial system
  • * FTC Offers Pay-off Information to Consumers with Non-bank Credit Cards

    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."

  • Related postings on financial system
  • April 17, 2009
    * EPA Finds Greenhouse Gases Pose Threat to Public Health, Welfare

    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."

  • Overview of EPA’s Proposed Endangerment and Cause or Contribute Findings for Greenhouse Gases under the Clean Air Act
  • Related postings on climate change
  • * Online Version of 2008 U.S. Government Printing Office Style Manual

    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."

    * Assessment of the Impacts of Global Change on Regional U.S. Air Quality

    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."

  • Related postings on climate change
  • * New GAO Reports: Military Personnel Retention, Gulf Coast Rebuilding
    • Military Personnel: Status of Accession, Retention, and End Strength for Military Medical Officers and Preliminary Observations Regarding Accession and Retention Challenges, GAO-09-469R, April 16, 2009
    • Office of the Federal Coordinator for Gulf Coast Rebuilding: Perspectives and Observations, GAO-09-411R, April 10, 2009
    * FACT SHEET: US-Mexico Discuss New Approach to Bilateral Relationship

    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."

    April 16, 2009
    * ACLU: Justice Department Releases Bush Administration Torture Memos
    • Statement of President Barack Obama on Release of OLC Memos: "The Department of Justice will today release certain memos issued by the Office of Legal Counsel between 2002 and 2005 as part of an ongoing court case. These memos speak to techniques that were used in the interrogation of terrorism suspects during that period, and their release is required by the rule of law. My judgment on the content of these memos is a matter of record. In one of my very first acts as President, I prohibited the use of these interrogation techniques by the United States because they undermine our moral authority and do not make us safer. Enlisting our values in the protection of our people makes us stronger and more secure. A democracy as resilient as ours must reject the false choice between our security and our ideals, and that is why these methods of interrogation are already a thing of the past."
    • ACLU: In response to litigation filed by the American Civil Liberties Union under the Freedom of Information Act (FOIA), the Justice Department today released four secret memos used by the Bush administration to justify torture. The memos, produced by the Justice Department's Office of Legal Counsel (OLC), provided the legal framework for the CIA's use of waterboarding and other illegal interrogation methods that violate domestic and international law. The ACLU has called for the Justice Department to appoint an independent prosecutor to investigate torture under the Bush administration."
    • The Torture Timeline, By Annie Lowrey, Foreign Policy
    * FBI Releases Bank Crime Statistics for Fourth Quarter of 2008

    "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."

  • Related postings on financial system
  • * Vision of High-Speed Rail in America

    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.

    * New GAO Reports: Maritime Security, Superfund, SBA and American Recovery and Reinvestment Act
    • Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvestment Act, GAO-09-507R, April 16, 2009
    • Maritime Security: Vessel Tracking Systems Provide Key Information, but the Need for Duplicate Data Should Be Reviewed, GAO-09-337, March 17, 2009
    • Superfund: Greater EPA Enforcement and Reporting Are Needed to Enhance Cleanup at DOD Sites, GAO-09-278, March 13, 2009
    * CBO: The Budgetary Implications of NASA's Current Plans for Space Exploration

    The Budgetary Implications of NASA’s Current Plans for Space Exploration, April 2009

  • "In 2004, President Bush announced his “Vision for U.S. Space Exploration,” which called for the National Aeronautics and Space Administration (NASA) to develop new vehicles for spaceflight that would allow humans to return to the moon by 2020. In response, NASA restructured its plans to achieve that objective, and in September 2004, the Congressional Budget Office (CBO) published a budgetary analysis of NASA’s new plans. This report updates that analysis, incorporating elements of NASA’s plans that had not been established in 2004. To meet the goal set by the President, NASA reduced its planned budgets supporting science and research in aeronautics by more than 40 percent and made plans to complete construction of the International Space Station and retire the space shuttle by 2010. Using about $100 billion of potential funding through 2020 made available by those changes, NASA began developing new vehicles for human spaceflight in what the agency calls its Constellation program. Two of those vehicles—the Ares 1 crew launch vehicle and the Orion crew exploration vehicle—are to achieve “initial operating capability” by March 2015. At that point, the vehicles should be capable of carrying a crew of astronauts to the International Space Station. NASA is also developing additional vehicles and systems—including the Ares 5 cargo launch vehicle and the Altair lunar lander—that are needed to return humans to the moon."
  • April 15, 2009
    * Treasury Report to Congress on International Economic and Exchange Rate Policies

    "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."

  • Related postings on financial system
  • * Pew Report - The Internet's Role in Campaign 2008

    "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."

  • The Internet's Role in Campaign 2008 - A majority of American adults went online in 2008 to keep informed about political developments and to get involved with the election. April 2009
  • * Federal Reserve Beige Book, April 15, 2009

    April 15, 2009 - Summary of Commentary on Current Economic Conditions by Federal Reserve District

  • Reports from the Federal Reserve Banks indicate that overall economic activity contracted further or remained weak. However, five of the twelve Districts noted a moderation in the pace of decline, and several saw signs that activity in some sectors was stabilizing at a low level. Manufacturing activity weakened across a broad range of industries in most Districts, with only a few exceptions. Nonfinancial service activity continued to contract across Districts. Retail spending remained sluggish, although some Districts noted a slight improvement in sales compared with the previous reporting period. Residential real estate markets continued to be weak. Home prices and construction were still falling in most areas, but better-than-expected buyer traffic led to a scattered pickup in sales in a number of Districts. Nonresidential real estate conditions continued to deteriorate. Difficulty obtaining commercial real estate financing was constraining construction and investment activity. Spending on business travel declined as corporations cut back. Reports on tourism were mixed. Bankers reported tight credit conditions, rising delinquencies, and some deterioration of loan quality."
  • Related postings on financial system
  • * New GAO Reports: Defined Benefit Plans, Nuclear Security
    • Defined Benefit Plans: Proposed Plan Buyouts by Financial Firms Pose Potential Risks and Benefits, GAO-09-207, March 16, 2009
    • Nuclear Security: Better Oversight Needed to Ensure That Security Improvements at Lawrence Livermore National Laboratory Are Fully Implemented and Sustained, GAO-09-321, March 16, 2009
    * Sunshine in Government Initiative Report on FOIA Backlogs

    "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."

  • Fewer Requests, Fewer Responses, More Denials - An analysis of federal agencies performance in responding to Freedom of Information Act requests in 2008, April 2009. This report was prepared by Pete Weitzel for the Sunshine in Government Initiative.
  • Download the charts
  • See also FOIA Facts on LLRX.com by Scott A. Hodes
  • April 14, 2009
    * American Recovery and Reinvestment Act of 2009: Oversight Challenges Facing the Department of Transportation

    DOT OIG - American Recovery and Reinvestment Act of 2009: Oversight Challenges Facing the Department of Transportation

  • "On March 31, we issued our report on oversight challenges facing the Department of Transportation with the implementation of the American Recovery and Reinvestment Act (ARRA) of 2009. The objective of this audit was to highlight key DOT oversight challenges–based on prior OIG reports and other agencies’ relevant audit work–and identify actions DOT should take now in support of ARRA requirements. Our report condensed the challenges into the following 10 focus areas where DOT must exhibit sustained and effective actions related to providing oversight to grantees receiving ARRA funding; implementing new requirements and programs mandated by ARRA; and preventing fraud, waste, and abuse: (1) acquire sufficient personnel with relevant expertise to oversee grantees; (2) adhere to existing Federal requirements for programs funded under ARRA; (3) evaluate the credibility and completeness of cost and schedule estimates; (4) oversee grantees’ contracting management activities and ensure selection of appropriate contract types; (5) address internal control weaknesses and identify unused funds for use on other eligible projects; (6) implement new ARRA tracking and reporting requirements that are designed to promote accountability and transparency; (7) develop comprehensive plans and sound criteria for the new discretionary grant and passenger rail programs created by ARRA; (8) develop appropriate oversight strategies for the new programs created by ARRA by drawing lessons from DOT’s Operating Administrations; (9) enhance understanding among DOT staff, grantees, and their contractors on how to recognize, prevent, and report potential fraud; and (10) take timely and effective action to suspend and/or debar individuals or firms that have defrauded the Department so they do not receive Federal contracts in the future.
  • Related postings on financial system
  • * Speech by Chairman Bernanke on four questions about the financial crisis

    Federal Reserve Board Chairman Ben S. Bernanke At the Morehouse College, Atlanta, Georgia - April 14, 2009 - Four Questions about the Financial Crisis

  • "The current crisis has been one of the most difficult financial and economic episodes in modern history. Recently we have seen tentative signs that the sharp decline in economic activity may be slowing, for example, in data on home sales, homebuilding, and consumer spending, including sales of new motor vehicles. A leveling out of economic activity is the first step toward recovery. To be sure, we will not have a sustainable recovery without a stabilization of our financial system and credit markets. We are making progress on that front as well, and the Federal Reserve is committed to working to restore financial stability as a necessary step toward full economic recovery."
  • Related postings on financial system
  • * New GAO Reports: State Dept. Passport Issuance Process, Military Disability Retirement, GAO Performance Plan
    • Addressing Significant Vulnerabilities in the Department of State's Passport Issuance Process, GAO-09-583R, April 13, 2009
    • Military Disability Retirement: Closer Monitoring Would Improve the Temporary Retirement Process, GAO-09-289, April 13, 2009
    • United States Government Accountability Office Fiscal Year 2010 Performance Plan, GAO-09-304SP, April 13, 2009
    April 13, 2009
    * White House Fact Sheet: Reaching Out to the Cuban People

    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."

    April 12, 2009
    * EIA: Quarterly Coal Report, Natural Gas Production Data, Market Assessment of Planned Refinery Outages, Green Pricing and Net Metering Programs
    • Federal Register notice: Financial Reporting System (04/10/2009): "Attached is a Federal Register notice for the Energy Information Administration's Financial Reporting System. Comments are due by June 8, 2009."
    • EIA's Natural Gas Production Data (04/09/2009): "This special report examines the stages of natural gas processing from the wellhead to the pipeline network through which the raw product becomes ready for transportation and eventual consumption, and how this sequence is reflected in the data published by the Energy Information Administration (EIA). The discussion will be helpful to users of the data published by EIA in the Natural Gas Annual and Natural Gas Monthly, in particular, and industry analysts interested in gaining a better understanding of the production process."
    • Natural Gas Residential Choice Programs (04/08/2009): "This site provides an overview of the status of natural gas industry restructuring in each state, focusing on the residential customer class. (Status by State as of December 2008)"
    • Quarterly Coal Report (QCR) - 4th Quarter 2008 (04/08/2009): Provides detailed quarterly coal data for October-December 2008 and aggregated quarterly historical coal data for 2002 through 4th Quarter 2008. All data for 2007 and prior years are final. All data for 2008 are preliminary. View an on-line summary of the publication."
    • Market Assessment of Planned Refinery Outages (04/08/2009): "This report reviews planned U.S. refinery outages from March 2009 though June 2009 in order to identify any regions where outages might create enough supply pressure to impact prices significantly."
    • Green Pricing and Net Metering Programs (04/07/2009): This report provides detailed information on the number of electric industry participants and their customers in these programs for 2007. The number of green pricing customers in 2007 was more than 800,000 nationwide, while the number of net metering customers was nearly 50,000."
    * EPA Adds Nine Hazardous Waste Sites to Superfund’s National Priorities List

    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."

  • Federal Register notices and supporting documents for these final and proposed sites
  • * Probation and Parole in the United States, 2007 - Statistical Tables

    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)."

    * Official Version: American Recovery and Reinvestment Act of 2009

    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

  • "An Act Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.
  • Related postings on the American Recovery and Reinvestment Act of 2009
  • Related postings on the financial system
  • * National Archives to Release Reagan and Bush 41 Presidential Records

    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.

    • "On Monday, April 13, 2009, the Ronald Reagan library will open 244,966 pages of records processed in response to hundreds of Freedom of Information Act (FOIA) requests. These records include the Presidential Briefing Papers collection, Office of Speechwriting research material, and approximately 13,000 pages of declassified records on numerous foreign policy topics. To date, more than ten million pages of Presidential records have been processed at the Reagan library."
    • On Monday, April 13, 2009, the George H. W. Bush library will open 797 pages of records that deal with Saudi Arabia. To date, more than six million pages of Presidential records have been processed at the Bush library..."

    April 11, 2009
    * GSA Announces $300 Million Efficient Vehicle Plan

    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."

  • Related postings on financial system
  • * The Protection of Children in England: A Progress Report

    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."

  • The Protection of Children in England: A Progress Report
  • * Census Bureau Submits to Congress Proposed Recovery Plan to Help Create Jobs and Conduct a Successful 2010 Census

    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.

  • Related postings on financial recovery
  • * Community Groups to Receive $1 Billion Boost From Recovery Act

    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."

  • Related postings on financial system
  • * State websites explain how they are spending funds allocated by the Recovery Act

    "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."

  • Check out the list...to see which states have accepted funds and examine the certifications they have submitted. This list will expand as more states issue their responses, so check back often."
  • * New GAO Report: Opportunities Exist to Improve the Single Audit Process and Oversight

    Single Audit: Opportunities Exist to Improve the Single Audit Process and Oversight, GAO-09-307R, March 13, 2009

  • "Without a mechanism in place to monitor on an ongoing basis how the single audit process is implemented governmentwide, OMB and federal stakeholders are unable to measure the efficiency and effectiveness of this process, as well as its usefulness as an accountability tool over federal grant awards. The variations we found on how federal agencies we reviewed perform key functions of the single audit process demonstrate the need to assess whether federal agencies carry out their single audit responsibilities in an efficient and effective manner."
  • April 10, 2009
    * U.S. Import and Export Price Indexes

    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."

    * OPM: Leadership and Knowledge Management Resources

    "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."

    * FCC Launches Development of National Broadband Plan

    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."

    April 09, 2009
    * New Agency Data Show IRS Downgraded Large Financial Services Audits

    "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..."

  • Related postings on financial system
  • * President Obama's Fiscal Year 2009 Supplemental Appropriations Request

    "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.

    • An overwhelming amount of this money -- nearly 95 percent -- is to move forward with the President’s agenda of ending the war in Iraq responsibly and his new strategy of refocusing the fight against al Qaeda in Afghanistan and Pakistan.
    • The remaining money funds defense and international efforts that reflect the President’s direction that we use all the elements of our power to confront threats to our security -- from securing loose nukes to humanitarian relief for those suffering under repressive regimes."

    * Interior & FERC Sign Agreement to Spur Renewable Energy on the U.S. Outer Continental Shelf

    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."

    * New GAO Reports: Military Buildup on Guam, NASA's National Aviation Operations Monitoring Service
    • High-Level Leadership Needed to Help Guam Address Challenges Caused by DOD-Related Growth, GAO-09-500R, April 09, 2009: "In an effort to improve the U.S. military’s flexibility to address conventional and terrorist threats worldwide, the Department of Defense (DOD) plans to relocate more than 8,000 Marines and an estimated 9,000 dependents from Okinawa, Japan, to Guam as well as expand other U.S. force capabilities on the island at an estimated cost of more than $13 billion. Guam is an integral part of DOD’s logistical support system and serves as an important forward operational hub for a mix of military mission requirements. According to DOD, Guam provides strategic flexibility, freedom of action, and prompt global action for the Global War on Terrorism, peace and wartime engagement, and crisis response.
    • Aviation Safety: NASA's National Aviation Operations Monitoring Service Project Was Designed Appropriately, but Sampling and Other Issues Complicate Data Analysis, GAO-09-112, March 13, 2009: "NAOMS was intended to demonstrate the feasibility of using surveys to identify accident precursors and potential safety issues. The project was conceived and designed to provide broad, long-term measures on trends and to measure the effects of new technologies and aviation safety policies. Researchers planned to interview a range of aviation personnel to collect data in order to generate statistically reliable estimates of risks and trends. After planning and development, a field trial, and eventual implementation of the air carrier pilot survey and the development of a smaller survey of general aviation pilots, the project effectively ended when NASA transmitted a Web-based version of the air carrier pilot survey to the Air Line Pilots Association."
    * Airline On-Time Performance Improves In February 2009

    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."

    * Homicide in New York City is indeed down 23 percent so far in 2009, and crime overall is down 13 percent

    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?"

    * DOD OIG Audit - Use of Global War on Terror Supplemental Funding

    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)

    • "What We Did: We reviewed 130 sample dollar points associated with Global War on Terror supplemental and bridge funds provided to the Army, Navy, Marine Corps, Defense-wide agencies, National Guard, and Reserve Components to determine whether the funds were obligated for the efforts stipulated by Congress and used in support of the Global War on Terror.
    • What We Found: Of the 130 sample points, we could not
      determine whether 59 sample dollar points, associated with $6.23 billion in appropriated funds, were obligated for the purposes authorized by Congress or used in support of the Global War on Terror. We concluded that the Office of the Under Secretary of Defense (Comptroller) and four DoD Components (the Army, the Navy, the Marine Corps, and the Washington Headquarters Service) did not consistently maintain adequate audit trails or separate Global War on Terror supplemental and bridge funding from annual and other
      supplemental appropriations in their accounting systems."

    * Fact Sheet: DOJ Efforts to Combat Mexican Drug Cartels

    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."

    April 08, 2009
    * CBO: The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions

    CBO Paper: The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions, April 2009

  • this analyisis "examines the relationship between increasing production of ethanol and rising prices for food. In particular, CBO estimated how much of the rise in food prices between April 2007 and April 2008 was due to an increase in the production of ethanol and how much that increase in prices might raise federal expenditures on food assistance programs. CBO also examined how much the increased use of ethanol might lower emissions of greenhouse gases."
  • April 07, 2009
    * Congressional Oversight Panel Report Assessing TARP Strategy After Six Months

    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."

  • Related postings on financial system
  • * Money Matters: Tips from the Federal Trade Commission

    "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."

  • Related postings on financial system
  • * WSJ: Electricity Grid in U.S. Penetrated by Spies

    "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."

  • See also North American Electric Reliability Corporation letter to Industry Stakeholders, April 7, 2009: "...as we consider cyber security, a host of new considerations arise. Rather than considering the unexpected failure of a digital protection and control device within a substation, for example, system planners and operators will need to consider the potential for the simultaneous manipulation of all devices in the substation or, worse yet, across multiple substations...One of the more significant elements of a cyber threat, contributing to the uniqueness of cyber risk, is the cross-cutting and horizontal nature of networked technology that provides the means for an intelligent cyber attacker to impact multiple assets at once, and from a distance."
  • * Presentations by Acting Comptroller of GAO: Accountability and Transparency in Government

    Presentations By The Acting Comptroller General

    1. "Key Fiscal Challenges Facing the Accountability Community," by Gene L. Dodaro, acting comptroller general of the United States, before the 2009 AGA Southeast Region Professional Development Conference, in Nashville, Tennessee. GAO-09-505CG, April 2, 2009
    2. "GAO: Promoting Accountability and Transparency in Government," by Gene L. Dodaro, acting comptroller general of the United States, before the Women's Philanthropy Board 7th Annual Spring Symposium, Auburn University, in Auburn, Alabama. GAO-09-572CG, April 6, 2009

    * New Book: Anonymity, Privacy and Identity in a Networked Society

    Via EPIC: "A new study by leading scholars from the USA, Canada, UK, Netherl