News Headline

Obama can help free trade with tariffs

Mike Elk — Fri, 11 Sep 2009 14:31:40 -0700

U.S. Economy Gets Lift From Stimulus

OurFuture.org Staff — Thu, 03 Sep 2009 09:03:19 -0700

Government efforts to funnel hundreds of billions of dollars into the U.S. economy appear to be helping the U.S. climb out of the worst recession in decades. Much of the stimulus spending is just beginning to trickle through the economy, with spending expected to peak sometime later this year or in early 2010. The government has funneled about $60 billion of the $288 billion in promised tax cuts to U.S. households, while about $84 billion of the $499 billion in spending has been paid. About $200 billion has been promised to certain projects, such as infrastructure and energy projects. Economists say the money out the door — combined with the expectation of additional funds flowing soon — is fueling growth above where it would have been without any government action.

US Fares Poorly In Child Welfare Survey

OurFuture.org Staff — Thu, 03 Sep 2009 07:19:02 -0700

America has some of the industrial world's worst rates of infant mortality, teenage pregnancy and child poverty, even though it spends more per child than better-performing countries such as Switzerland, Japan and the Netherlands, a new survey indicates. The OECD, a Paris-based watchdog of industrialized nations, urged the United States to shift more of its public spending to its youngest children, under the age of six, to improve their health and educational performance. The report, "Doing Better for Children," marks the first time the Organization for Economic Cooperation and Development has reported on child well-being within its 30 member countries.

Bleak Outlook For Struggling States in 2010

OurFuture.org Staff — Tue, 11 Aug 2009 07:37:47 -0700

As states across the country grapple with the worst economy in decades, most have cut services, forced workers to take unpaid days off, shut offices several days a month and scrambled to find new sources of revenue. The good news is that much of the pain this year has been cushioned by billions of dollars of federal stimulus money, which has allowed states and localities to avoid laying off teachers, prison guards, police officers and firefighters. The bad news is that for the next fiscal year, beginning in July, the picture looks even bleaker. Revenue is expected to remain depressed, even if the national economy improves. There will be only half as much federal stimulus aid available, and many states have already used up their emergency reserves.

House Approves $7 Billion Highway Fund

OurFuture.org Staff — Thu, 30 Jul 2009 08:22:00 -0700

The U.S. House of Representatives approved $7 billion on to temporarily shore up a nearly empty federal trust that pays for road, bridge and transit projects. Supporters garnered the necessary two-thirds support to push through the stop-gap measure intended to keep the Highway Trust Fund solvent through September 30, the end of the fiscal year. The vote was 363 to 68. The government estimates the account could run dry within several weeks without an emergency infusion of cash. The fund provides states with about $40 billion per year in transportation construction funding. Trust fund disbursements are separate from the billions in economic stimulus money dedicated to states for transportation projects.

Federal Aid Jump-Starts New Battery Plants

OurFuture.org Staff — Mon, 27 Jul 2009 08:20:25 -0700

The Energy Department is getting ready to hand out about $2 billion in grants to create a domestic industry for electric-car batteries, and 122 companies are scrambling to get pieces. The companies range from small niche firms to giants such as Dow Chemical and Johnson Controls. All are promising a combination of innovation and ability to deliver new products on a commercial scale to prevent the United States from trading dependence on foreign oil or reliance on foreign-made batteries. Now policymakers hope that helping domestic battery manufacturers will produce economic savings that often come with large-scale production and which are needed to make electric cars affordable. With funds provided by the stimulus bill in February, the Energy Department can cover up to half the cost of a battery-related project.

Cities Lose Out on Road Funds From Federal Stimulus

OurFuture.org Staff — Thu, 09 Jul 2009 07:44:36 -0700

Two-thirds of the country lives in large metropolitan areas, home to the nation’s worst traffic jams and some of its oldest roads and bridges. But cities and their surrounding regions are getting far less than two-thirds of federal transportation stimulus money. According to an analysis by The New York Times of 5,274 transportation projects approved so far — the most complete look yet at how states plan to spend their stimulus money — the 100 largest metropolitan areas are getting less than half the money from the biggest pot of transportation stimulus money. In many cases, they have lost a tug of war with state lawmakers that urban advocates say could hurt the nation’s economic engines.

D.C. Metro Crash Highlights Underfunded Transit Systems

OurFuture.org Staff — Mon, 29 Jun 2009 07:34:30 -0700

More than one-third of assets in the nation's seven largest rail transit agencies, including the Washington Metropolitan Area Transit Authority (WMATA), are in marginal or poor condition, according to an April report by the Federal Transit Administration. These include public rail systems in New York, Chicago, Boston, New Jersey, San Francisco, Philadelphia, and Washington, D.C. Together, these systems account for more than 3 billion passenger trips a year. A fix for the backlog would cost $50 billion; maintaining good repair thereafter, another $5.9 billion annually. But the actual level of investment in rehabilitation, replacement, and improvement of existing transit assets in these systems was $5.4 billion in 2006, the latest year reported in the study.

Mayors Say Cities Need Direct Economic Help

OurFuture.org Staff — Mon, 15 Jun 2009 07:10:00 -0700

Without more direct aid to U.S. local governments, Washington may make matters worse for cities facing falling tax revenues and increased spending needs, the nation's mayors said at their annual meeting this weekend. Mayors said they bear the tough task of cutting services and jobs vital to U.S. cities, even with help from the $787 billion in stimulus funds Congress passed in February.

Stimulus Spending Spawns Requests

OurFuture.org Staff — Wed, 10 Jun 2009 08:25:15 -0700

President Obama and congressional Democrats have defended the $787 billion stimulus package against accusations of pork-barrel spending by saying the bill did not direct money to projects requested by members of Congress. Still, that hasn't stopped lawmakers from working behind the scenes to try to influence how the money is spent, according to agency records. Dozens of members of Congress from both parties have called, written or e-mailed agencies urging them to fund projects in their districts or states. Among the projects supported by members of Congress that have been funded: $116 million for a federal courthouse in Austin; $35 million to $60 million for toxic waste cleanups in Massachusetts and Colorado; and $5 million for the removal of pine trees killed by bark beetles in Colorado, records show.