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To quote President Barack Obama, and Congressman Joe Wilson

Submitted by Roanman on Tue, 02/02/2010 - 12:47

 

 

 

The following are just some of the items within the President's proposed 2011 budget:

 

Provides a $3 billion increase in K-12 education programs, plus up to $1 billion in additional
funding if Congress successfully completes a fundamental overhaul of the Elementary and
Secondary Education Act (ESEA). Together, these measures would represent the largest
funding increase for ESEA programs ever requested.

Provides $1.35 billion to expand Race to the Top for school districts as well as States to carry
out systemic reform, and $500 million to continue the Investing in Innovation program to test,
validate, and scales up effective approaches to student learning. 

Increases the number, and improves the distribution of, effective teachers and principals,
by investing $950 million in competitive grants to States and school districts that build
comprehensive systems to recruit, prepare, retain, and reward effective teachers and
principals.

 Provides $429 million, the highest funding level ever, for competitive grants through the
Agriculture and Food Research Initiative.

Provides $50 million for a new “Healthy Food Financing Initiative” to bring grocery stores and
other healthy food retailers to underserved communities. 

Provides $7.4 billion for the National Science Foundation, an 8 percent increase over the
2010 enacted level, as part of the President’s Plan for Science and Innovation.

Drives the creation of the industries and jobs of the future by doubling funding for
multidisciplinary research targeted at next-generation information and biological technologies.

Provides $19 million in graduate and undergraduate fellowships and scholarships for a joint
initiative with the Department of Energy to inspire tens of thousands of American students to
pursue careers in science, engineering, and entrepreneurship related to clean energy.

Creates a new $766 million, cross-agency sustainability research effort focused on renewable
energy technologies and complex environmental- and climate-system processes.

Increases funding by 14 percent for a new consolidated program aimed at building the
science and technology workforce by recruiting and retaining undergraduate students from
under-represented groups. 

Adds $6 billion to NASA’s budget over five years and draws upon American ingenuity to
enable us to embark on an ambitious 21st Century program of human space exploration.

Provides $3.3 billion total for the Clean Water and Drinking Water State Revolving Funds.
This will allow States and Tribes to initiate approximately 800 clean water and 500 drinking
water projects nationally, continuing a major Federal commitment to water infrastructure
investment.

Provides new funding to support the Administration’s commitment to mitigate climate change.

Provides grants for States and Tribes to administer delegated environmental programs at $1.3
billion, the highest level ever.

Builds on the historic past increase in funding for the Department of Veterans Affairs (VA), for
a 20 percent total increase since 2009.

Invests over $8 billion in the Internal Revenue Service’s enforcement and modernization
programs, while continuing to drive innovation and responsiveness in taxpayer services. The
Budget supports significant new revenue-generating initiatives that will target critical areas of
non-compliance, and enhances a multi-year modernization strategy that will deliver a vastly
improved IRS within the next five years. 

Provides $4 billion for a new National Infrastructure Innovation and Finance Fund, which will
invest in high-value projects of regional or national significance.

Establishes a new $30 million Federal transit safety program to address critical needs.

Invests in modernizing the air traffic control system by increasing funding for NextGen by
more than 30 percent.

Helps communities to become more livable and sustainable by allocating $527 million for the
Department’s investments as part of the President’s multi-agency Partnership for Sustainable
Communities.

Sustains large-scale, multi-year support for high-speed rail, with $1 billion to fund promising
and transformative projects. 

Increases funding for the President’s Global Health Initiative, including increased efforts to
reduce mortality of mothers and children under five, avoid unintended pregnancies, and work
towards the elimination of some neglected tropical diseases. As part of this effort, the Budget
also expands support for the President’s Emergency Plan for AIDS Relief to prevent new HIV
infections while providing care and treatment to millions of people, and for the President’s
Malaria Initiative to dramatically reduce the prevalence of this disease.

Increases funding for the President’s Global Hunger and Food Security Initiative to help poor
countries improve the nutritional and income status of millions of people living in extreme
poverty and suffering from hunger by 2015.

Increases aid to Afghanistan and Pakistan to revitalize economic development and confront
the resurgence of the Taliban.

Continues to strengthen and expand local law enforcement agencies by providing $600 million
as part of the President’s multi-year commitment to fund the hiring of 50,000 additional police
officers nationwide.
 
Steps up the effort to combat financial fraud and protect public investments in our Nation’s
financial stability.
 
Expands targeted, place-based efforts to combat violent crime.
 
Strengthens efforts to combat violence against women by providing $538 million, an increase of 29 percent. 

 Stays on track to fully fund Land and Water Conservation Fund programs by 2014 by
providing nearly $620 million to acquire new lands for national parks, forests and refuges,
protect endangered species habitat, and promote outdoor recreation.

 

There is no nice way to say it.

 

 

 
 
 

 

Two differing approaches

Submitted by Roanman on Sat, 01/30/2010 - 12:38

 

Taken from China Daily 1/28/2010

 

China’s $300 billion sovereign wealth fund is considering new investments in resource-related companies after bets on commodities producers from the U.S. to Kazakhstan paid off in 2009.

“China Investment Corp. increased spending on energy and minerals assets last year to profit as the global economy recovers. The Beijing-based fund avoided the worst of the credit crunch in its first full year in 2008 and may have had a return of more than 10 percent in 2009, said London-based Jan Randolph, director of sovereign risk, analysis and forecasting at IHS Global Insight. ‘They have timed the upside well both in market terms, but also to fit in with the longer-term diversification strategy,’ Randolph said.

“CIC has had ‘early’ talks for direct investments in Brazil, the world’s second-biggest iron-ore exporter, and Mexico, the No. 2 silver producer, CIC Chairman Lou Jiweisaid at the Asian Financial Forum in Hong Kong on Jan. 20. Jiwei pumped about $10 billion into commodity-related companies in the second half of 2009, according to data compiled by Bloomberg.

“With China’s reserves at $2.4 trillion and swelling by an average of $37.8 billion a month last year, CIC has asked the government for another $200 billion…” China Daily 01/28/2010

 

 Taken from the fine site, "Seeking Alpha".

Click anywhere within the body of the paragraph for the complete article.

Another site that I highly recommend for grownup reading.

 

Steven Gross, the Chief Actuary of the Social Security Trust fund wrote a letter* on 9/15/2008. In that letter he included this graph.

 

On 2/12/2009 Mr. Gross wrote a letter* to Senator Robert Bennet. That letter contained this graph.

 

 

Here is a link to a report produced by the Trustees of the Social Security Trust Funds (“SSTF”). http://justthinking.us/sites/default/files/image/Single%20Gear%20Down%20Left.gif
 
 
  

 

 

 

Marxism with a twist?

Submitted by Roanman on Tue, 01/26/2010 - 13:36

If ..... And ..... Then

Submitted by Roanman on Wed, 01/20/2010 - 11:16

To Quote Ibn Khaldun, and Arthur Laffer

Submitted by Roanman on Tue, 01/12/2010 - 07:37

Reading on a Saturday Morning

Submitted by Roanman on Sat, 01/09/2010 - 10:06

 

Maybe that pesky "Global Warming " is a good thing.

"One culprit in December's disappointing jobs report was the unusually cold weather during the week that the Bureau of Labor Statistics did its counting." Phil Izzo, WSJ 1/9/09 

 

The next one is sort of new. The comment up until now has been that the Chinese are fed up and are looking at replacing the dollar as the world's reserve currency with a basket of currencies that includes Gold.

The fact that this quote comes out of the editorial section of the Wall Street Journal is pretty big.

Indeed, gold is viewed by central banks the world over as a unique reserve asset. Contrary to monetary assets denominated in national currencies, its status cannot be undermined by inflation in the issuing country, nor is it subject to repudiation or default.

Which suggests that perhaps it is time to make available to the American public the sort of insurance against dollar depreciation that monetary authorities have long sought for their own portfolios. For those citizens who've become skeptical of the Fed's ability to guarantee price stability in terms more meaningful than elementary CPI statistics—or who believe the bigger threat to their personal financial security lies in a potential repeat of the last debacle — why not provide a new class of Treasury obligations that would guarantee purchasing power of the dollar in terms of Gold?  Judy Shelton, WSJ 1/8/09

 

Two Thousand Billion?

That's Two Trillion

A trillion here, a trillion there, pretty soon you're talking about real money.

 

 

In the last decade gold has gained 292% against the US$, 181% against the Euro, 249% against the JY, 298% against the BP, 179% against the C$, and 182% against the A$

An ounce of gold today buys 62 ounces of silver.  Historically, it is 1:15.

 

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