...entitlement programs – Social Security, federal retirement programs and Medicaid – that are exempt from sequestration budget cuts. In addition, the Government Accountability Office (GAO) issued a decision on May 21, 2012, extending exemption from sequestration to U.S. Department of Veterans Affairs (VA) spending. In issuing its decision, the GAO determined that the Statutory Pay-As-You-Go Act of 2010 exempted VA spending – with the exception of limited administrative expenses – from the impact of sequestration by overruling language within the Balanced Budget and Emergency Deficit Control Act of 1985, which limited cuts on veterans’ medical care to 2%. The GAO decision affirmed an April 2012 opinion by the Office of Management and Budget (OMB) which similarly concluded that sequestration budget cuts do not apply to VA spending. While not exempt from sequestration, other programs are limited to a fixed percentage of cuts; Medicare cuts, for example, are limited to 2%. It is also important to remember that the Budget Control Act of 2011 provides a means to avoid sequestration if Congress successfully acts to achieve deficit reduction savings that match the anticipated $1.2 trillion in funds that will be subject to sequestration. If Congress attains less deficit reduction savings than required,...
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...The National Defense Authorization Act (NDAA) was signed by President Obama on the last day of 2011. This is an unusual occurrence; the National Defense Authorization Act itself has been signed into law every year for the past fifty. The main objection of the NDAA is to allow the government to continue funding national security interests and the military for the next following year. This year’s bills, however, was different. One of the changes that were added on to the bill is any American suspected of terrorism to be detained in military custody without charge or trial. Section 1021 of the NDAA “includes the authority for the Armed Forces of the United States to detain covered persons under the law of war.” Under the regulation of the bill a covered persons is, who planned, authorized, committed, or aided the terrorist attacks that occurred on September 11, 2001, or those responsible for those attacks. A person who was a part of or substantially supported Al-Qaeda, the Taliban, or associated forces that are engaged in hostilities against the U.S. or its coalition partners.” It doesn't stop there, in Section 1022 they also added, detention under the law of war without trial until the end of the hostilities authorized by the Authorization for Use of Military Force. This authorizes the federal government to hold, without charges, anyone designated an enemy combatant for an unlimited amount of time. To make matters worse, section 1022, subsection a, item 4 allows the President...
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...lawmakers to make decisions regarding policy and for the general public to believe that lawmakers have the needs of their constituents in mind when creating policy. Lawmakers have difficulty when dealing with issues that are ambiguous in their policy values. Some of the issues presented to lawmakers have meanings that vary and can be perceived as not in the best interest of their constituents. One example of a recent issue in policy was the National Defense Authorization Act of 2012, signed into law by President Obama on December 31, 2011. This is not a new act, just the annual updated act authorizing military spending for national security programs and military personnel. Following the attacks on the World Trade Center on September 11, 2001, President Bush expanded the act to include counter-terrorism efforts. This was highly supported by the American people, as it was seen as necessary for national and personal security. The updated version in 2012 expanded the counter-terrorism section that expanded military authorization to detain U.S. citizens as well as non-citizens indefinitely without trial if suspected of terrorist activity. This change has been viewed by many Americans as a violation of their liberty causing an...
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...allow for quick payment, and help a customer build a credit history. But while credit cards have great advantages, they also pose great disadvantages. Credit card companies must make a profit. To do this, these companies have devised many ways to charge extra fees to their customers. Ranging from understandable late fees to seemingly ridiculous inactive fees, credit card companies have found ways to squeeze extra money from customers. In lieu of public outcries, the U.S. Government passed the Credit CARD Act in 2009 (implemented fully in 2010) to stifle many of the ostensibly unethical actions of the credit card companies. In 2011, one year after the act began to be implemented, the beckoning question is ‘Did the Credit CARD Act benefit consumers?’ After research and careful thought, I believe the propositions in the Credit CARD Act did answer many consumer complaints, but there is still work to be done. The first question one might ask is, “What exactly did the Credit CARD Act change?” The simple answer is “many things.” To go in depth would take a while and be complicated. Instead, a simple way to view the new law is that it increased clarity for consumers and set up many consumer credit shields. While we do not have the time to thoroughly examine every proposition, I do, however, want to extract a few of the propositions I feel are important, discuss their benefits and drawbacks from both parties’ standpoints, and provide some solutions I think would make the proposition better...
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...“Buy American” Requirements On March 31, the Federal Acquisition Regulation (“FAR”) Council issued an interim rule implementing the Buy American provision of the American Recovery and Reinvestment Act (ARRA) of 2009, also known as the Stimulus Package. The Buy American provision of the Stimulus Package requires, with certain exceptions, that regardless of size or duration, none of the funds made available under the Act be used on projects for a “public building or public work” unless all of the iron, steel, and “manufactured goods” used in the project were “produced” in the United States. “The interim rule implements three exceptions to the Buy American requirement that permit foreign material to be used: If (1) a particular construction material is not mined, produced, or manufactured in the United States “in sufficient and reasonably available commercial quantities of a satisfactory quality,” (2) the cost of domestic construction material is unreasonable, or (3) applying the Buy American restriction to a particular construction material “would be inconsistent with the public interest.” FAR 25.603(a). These are determinations for the government to make, not the contractor. “ The regulations do not apply to Recovery Act Designated Countries (“RADC”) and nations who are bound by a signed document such as a treaty, free trade agreement or contract with the World Trade Organization Government Procurement Agreement who produce construction material. However, some countries...
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...I do feel like there are flaws in America's free market capitalism system, as with any system. But I do not think that more government control is the answer. By attempting to more evenly distribute wealth the government has passed labor laws and fair trade agreements. Our nation was founded on independence and hard work. Limiting the rewards of hard work for the business entrepreneurs will only serve to further increase our current economic problems by limiting growth and as a result, job opportunities. A large part of our economic problems result from borrowing rashly. Many Americans have been living beyond their means and then subsequently rely on assistance from an already heavily indebted government system to buffer their debts. Alternative/renewable energy is not only feasible but also imperative for Japan as well as other countries to invest in for the future. Japan will be obliged to research ways to become eco- friendly in the future. Japan has long been known for their ability to stay on the cutting edge of technology and the exploration of sustainable energy could assist them for their own consumption as well as possible export options. Another possible avenue for economic growth could involve encouraging tourism and the economic boost associated with increased job opportunities and increased revenue. Another option Japan could possibly use to strategize economic growth is by utilizing their own natural resources such mining, fishing and forestry for their own...
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...(Office of Electricity Delivery & Energy Reliability, n.d.) A key feature of the smart grid is automation technology that lets the utility adjust and control each individual device or millions of devices from a central location. In December 2007, Congress passed, and the President approved, Title XIII of the Energy Independence and Security Act of 2007 (EISA). EISA provided the legislative support for DOE’s smart grid activities and reinforced its role in leading and coordinating national grid modernization efforts. President Obama has announced the largest single grid modernization investment in U.S. history, funding a broad range of technologies to spur the nation's transition to a smarter, stronger, more efficient and reliable electric system. This will promote energy-saving choices for consumers, increase energy efficiency, and foster the growth of renewable energy sources like wind and solar power. Congress enacted the American Recovery and Reinvestment Act of 2009 (Recovery Act) to create new jobs and save existing ones, stimulate economic activity, and invest in long-term growth. The $3.4 billion in investments, as part of the Recovery Act, will be matched by industry funding for a total public-private investment worth over $8 billion. (Office of Electricity Delivery & Energy Reliability, n.d.) Although the Smart Grid projects will be costly, their benefits really outweigh the expenses. First, the Smart Grid can address the current power grid's shortcomings that, in the...
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...stated above. This website also provides information via zip code or the gathering of more information by location of all 50 states and U.S. territories. Laws and regulations is a feature that is available to the information seeker as well where you can find a summary of major laws of the Department of Labor that include such things as employment law assistance, compliance assistance website, rulemaking and regulations, and wages and hours just to name a few. You will also be able to locate budget performance information that will include results from the previous fiscal years as well as current, strategies of planning, history and resources. There is also the American recovery and reinvestments act information which highlights the recovery act of 2009 and the implementing of the act. The roles that the U.S. Department of Labor played as far as providing workers training for certain jobs and the ease of the burden recession on workers and employers...
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...Accounting Proposal Introduction The field of accounting affects every active individual within a society to some extent. Taxpayers, families who budget for the future and businesses evaluating potential products use some form of accounting principles to accomplish the tasks required of them. A functional accounting system is critical to the success and health of any given economy. The purpose of this text is to suggest a solution to the lack of a medium through which accounting knowledge is disseminated. Knowledge of accounting is important in the innovation and improvement of accounting principles. These improvements are important in strengthening the economy of a country to compete in the emerging global market. In general, people would see benefit in their daily lives by understanding how and when to utilize various accounting principles. There are many instances in which these benefits can be seen. Individuals use accounting knowledge to more efficiently manage their financial resources. Also tied to this is the ability to keep accurate financial records in order for individuals to make more informed decisions regarding their money. These decisions include budgeting, fund allocation as well as general money management. These benefits stretch beyond the actual user of accounting principles. If people are better managing their money, they are less likely to fall into debt. If businesses do the same, they will be more averse to failure and bankruptcy. The use of accounting...
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...Hippa Summary Patricia Milligan HCS/320 April 14, 2014 Polly Hansen Hippa Summary The Health Insurance Portability and Accountability Act of 1996 also known as HIPPA, protects the patient’s health information whether spoken, written, or electronic. The American Recovery and Reinvestment Act of 2009 provides stimulus funding and invest resources in Health Information Technology for the Economic and Clinical Health Act (HITECH). HITECH provides privacy provisions that build and modify the HIPPA privacy rule. Some new information I learned about the HIPPA act through this tutorial was the final security rule. This rule ensures that all electronic patient health information is protected against threats. Threats cannot be protected 100 percent, because of instances such as break-ins or unauthorized use of information from a health care employee. The best way to ensure compliance is for each member or the workforce to complete training at least once a year. Every employee is required to follow the HIPPA policies and procedures and be aware of their surroundings to help monitor breaches to the system. In conclusion, the changes that will be made to HIPPA privacy rule in the future will also affect how I may use this information in the workforce. My current goal is to do medical transcription from home, and this will require a strong sense of trust and training for the medical facility to stay in compliance. I am sure that with a growing number of stay at home medical personnel...
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...Dianna Ross Political Science March 23, 2014 Assignment II Listen to the news with ears that are open only for the negative and one would come away from the conversation about the of 2009 wondering who in the heck is running the country. Over the last five years I have heard many opinions on the American Recovery and Reinvestment Act of 2009 and the statement declaring the stimulus as one of the biggest mistakes made by President Obama is in my opinion an inaccurate one. The Stimulus or The Recovery Act, was an economic stimulus package enacted by the 111th United States Congress in February 2009 and signed into law on February 17, 2009, by President Barack Obama. To respond to the Great Recession, the primary objective was to save and create jobs almost immediately. Secondly to provide temporary relief programs for those most impacted by the recession and invest in infrastructure, education, health, and renewable energy. The cost of the stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. The Act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and expansion of unemployment benefits and other social welfare provisions. It also created the President's Economic Recovery Advisory Board. The goal of the stimulus plan was not only to boost the economy but to increase confidence in and restore faith in the ability to grow the economy. The average...
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...Americans were told thirty years ago that government was part of the problem, not the solution. Every major part of the economy such as health care, energy, transportation, food and finance was deeply troubled. Now we are ready to invite government back in to help solve the problem, but only if the price is right and the strategies are convincing (Sachs). When President Obama was elected he faced challenges that were twofold. The challenges were to capture the potential benefits of a new age government activism, while still protecting the country’s longterm fiscal health (Sachs). For decades, conservatives have been pushing for smaller government, and have consistently called for reduced social spending, less regulation, and more tax cuts. Not everyone agrees. When the financial crisis hit in the fall of 2008 and the economy began to melt down, suddenly there were calls for bigger and more active government. Many people wanted a massive federal stimulus plan to ward off an economic depression, and others demanded the widespread re-regulation of financial markets to prevent a recurrence of these problems (Douglas). Even as the economy worsen many American consoled themselves with the belief that at least we were better off than people in other rich nations. Now when comparing the U.S. with Canada, Western Europe and Japan, the news is sobering. Our child-poverty and infant-mortality rates are the highest, our life expectancy is the lowest, our budget deficit as a...
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...Americans. If we were to look at Keynes theory as a way to solve our financial crisis we need to examine the stimulus effect on unemployment and growth. Keynes argued that demand determines overall economic activity and that low demand could cause prolonged periods of unemployment. Keynesians believe that the government should use fiscal and monetary tools to stimulate the effects of the recession. Hayek’s theory on the other hand is inferred to say that the federal government should make money as neutral as possible, like the rule of law, one that never favors one party or the other. Supporters of Hayek believe that more spending will not lead to economic recovery during a recession/depression. The facts: In 2009, the American Reinvestment and Recovery Act allowed for $787 billion (composed of three parts: Tax breaks for individuals and companies, Aid to states to fund unemployment benefits, Medicaid, and schools, and funding for infrastructure projects) and it was predicated that unemployment would fall to 7.5%; Unemployment instead rose to 10%. Treasury debt owned by the public rose from 36% at the end of 2007 to 62% in 2010. The third part of the stimulus package designated recipients for 80% of the funds but has only paid out 1/3 of them. After examining the evidence it is easily seen that the stimulus was not the best course of action the federal government could have...
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...Vishnu Venkateswaran Writing 140: Section #64330 Rory Lukins November 15th, 2013 Assignment #4 The Tea Party’s Illegitimate Reactions to Perceived Failures of Society Signs that read “revolt against socialism”, arguments racing across the floors of Congress, and meddling in the electoral process to protest against the Democratic agenda are just a small number of the Tea Party’s activities. The Tea Party is a movement spurred on by CNBC’s Rick Santelli whose angry rant rouse the fervor of many a conservative. (Skocpol & Williamson, 1) In particular, he argued against the economic stimulus package introduced by the Obama administration in 2009. Shortly after, the official commencement of the Tea Party movement began with a rally of the fiscal conservative. It started out as a grassroots movement and later evolved into a widespread local and national organization. With generous funding from conservative billionaires and large political organization committees, the Tea Party grew exponentially from state to state. Tea Partiers called for a cut in taxes and public spending as well as deregulation of business operations to lower the national deficit. These individuals started their protest by conventional rallies with signs denouncing Obama’s policies. This later escalated, however, into endorsing candidates into the GOP and reforming the Republican Party. The Tea Party’s activities have contributed towards the recent government shutdown causing scorn amongst many in American...
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...Govt Budgeting and Finance Professor: Vaida Maleckaite 2011 US.Budget A Summary 02/03/2014 “Budget Message of the President” – A Summary Introduction The President of the United States prior to a budget year gives a speech on the fiscal well being of the Nation. This budget is published by the by the Office of Management and Budget. This speech outlines the economic situation, the progress that the country has made during the year 2011and the issues facing as we look forward and. The budget also includes other important documents such “Rescuing the Economy,” “Reviving Job Creation and Laying a New Foundation for Economic Growth,” and “Restoring Responsibility.” This summary discusses some of the economic indicators that caused the recession. How we were declining in manufacturing, product demand being down, and the financial institutions on the verge of collapse. This was happening along with high unemployment. “The first order of business for the new Administration was to arrest the rapid decline in economic activity.” Economic Situation In the year, preceding the President Obama’s budget speech 2011 the banking industry had stopped lending money; credit was hard to come by. They were investing in high risk ventures with bad speculations that were not successful. There were no regulations to prohibit the banks in unsound investments. The country was going into a recession and perhaps a depression. The Gross Domestic Product was the lowest in 25 years. We were...
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