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Daily Archives: May 7, 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growth with uncontrollable deficits and debt, and we no longer can afford to tolerate investments in programs that are outdated, duplicative, ineffective, or wasteful.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… Continue Reading

Congressional Commission on the Strategic Posture of the United States Issues Final Report

News release: “The final report of the Congressional Commission on the Strategic Posture of the United States provides over 100 findings and recommendations on critical issues related to U.S. nuclear strategy. Key themes on which recommendations are focused include (1) challenges and opportunities inherent in the current security environment; (2) the roles, functions, and projection… Continue Reading