Legislative Report to BRWC
May 2009
Federal Deficit Watch: Based on President Obama's Budget, the Congressional Budget Office (CBO) projected a deficit of $1.8 trillion dollars for the fiscal year ending September 30, 2009, along with a forecast of a $1.4 trillion deficit for fiscal 2010. These estimates are higher than the baseline estimates provided in the last report, which are based on current policies remaining.
The White House and Democratic leaders say they want to have the option of fast-tracking health care reform by using "reconciliation." Under reconciliation, only a simple majority would be required in the Senate to pass health care legislation. The House and Senate are planning to develop health care bills in June, with the intent of passing the bills before Congress leaves for its August recess. In April speaking before advocates, Congresswoman Jan Schakowsky (D-Illinois) said "Those of us who are pushing for a public health insurance option don't disagree with the goal [of eliminating the private healthcare sector]."
White House lawyers are refusing to accept the findings of a White House-ordered review of Guantanamo Bay detainees by an inter-agency committee made up of all national security agencies. The committee stated that the Uighur Chinese Muslims are too dangerous to release inside the U.S., according to Pentagon sources. These detainees were captured at an al-Qaeda training camp and are part of East Turkistan Islamic Movement. According to Defense Department sources, the White House legal office has told the inter-agency review group to re-do their findings to come up with the opposite answer.
On April 24, 2009, President Obama signed a bill to increase the regulatory oversight of the $787 billion Troubled Asset Relief Program (TARP). The new law would strengthen the power of special inspector general Neil Barofsky, who is watching over TARP, by providing more tools and by allowing him to make recommendations. If Treasury Secretary Timothy Geithner fails to carry out the inspector general's recommendations, he must explain his rationale to Congress. In September, Barofsky is planning to release a report examining how the funds within the program are being spent.
Through May 1, 2009, 32 US banks have closed or were involved in assistance transactions by the FDIC. In 2008, 25 banks failed in the US.
In the States: Michigan's state park system, a valuable natural resource, is sliding into disrepair due to state budget cuts, lower attendance and fewer funding sources. The Department of Natural Resources has a lengthy list of more than 200 infrastructure projects that would cost a total of $341 million. Gov. Jennifer Granholm has proposed an increase in the per-car annual charge from $24 to $28 and daily charge from $6 to $7 that would raise $1.9 million. State Senator Birkholz (R-Saugatuck) and others are pushing a plan to tack a $10 opt-out fee onto every vehicle registration as a replacement for vehicle permit fees. That plan would raise an additional $18 million a year, on top of revenue generated by the parks.
Source: CBO website, OneNewsNow.com, Human Events, Producersweb.com, FDIC.com detnews.com,
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