PRESIDENT OBAMA’S INAUGURALADDRESS
U.S. Department of State, International Information Programs, January 20, 2009
THE CABINET
U.S. Department of State, International Information Programs, January 2009
U.S. PRESIDENTIAL TRANSITIONS
U.S. Department of State, International Information Programs, January 2009
An important characteristic of democracy in the United States, however, is the regularly recurring peaceful transfer of power from one president to the next. Americans know when the next presidential election will take place – the Tuesday after the first Monday in November every four years. And power will be transferred to the newly elected (or re-elected) president on January 20 of the following year.
MEMBERSHIP OF THE 111the CONGRESS: A PROFILE
Congressional Research Service, December 31, 2008
This report presents a profile of the membership of the 111th Congress. Statistical information is included on selected characteristics of Members, including data on party affiliation, average age and length of service, occupation, religious affiliation, gender, ethnicity, foreign births, and military service.
vendredi 23 janvier 2009
mercredi 5 novembre 2008
vendredi 15 août 2008
US FINANCIAL MARKETS
Recent Developments in U.S. Financial Markets and Regulatory Responses to Them
Senate Committee on Banking – Hearing – July 15, 2008
http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=8f6a9350-3d39-43a0-bbfb-953403ab19cc
Witnesses:
Henry M. Paulson , Jr., Secretary of the Treasury
Ben S. Bernanke , Chairman, Board of Governors of the Federal Reserve System
Christopher Cox , Chairman, Securities and Exchange Commission
Systemic Risk and the Financial Markets (1)
US House of Representatives - Committee on Financial Services – Hearing - July 10, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr071008.shtml
Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke appeared at the first of a series of hearings on the policy implications of the transformation of domestic and international financial markets, with a primary focus on the rise of potential systemic risk associated with the dramatic growth in the share of assets held outside the commercial banking system, the complex arrangements that link firms that are regulated differently (or not at all) and the increasing amount of leverage.
Systemic Risk and the Financial Markets (2)
US House of Representatives - Committee on Financial Services – Hearing - July 24, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr072408.shtml
This is the second in a series of hearings on the policy implications of the transformation of domestic and international financial markets. Witnesses for this hearing are New York Federal Reserve President Timothy Geithner, S.E.C. Chairman Christopher Cox.
Speculative Bubbles and Overreaction to Technological Innovation
FRB San Francisco - Economic Letter - June 20, 2008 – 4 pages
http://www.frbsf.org/publications/economics/letter/2008/el2008-18.pdf
“This Economic Letter examines some historical links between speculative bubbles, technological innovation, and capital misallocation.”
William R. Emmons FRB St. Louis - Regional Economist – Article - July 2008
The Mortgage Crisis: Let Markets Work, but Compensate the Truly Needy
http://www.stlouisfed.org/publications/re/2008/c/pages/mortgage.html
Recent mortgage-foreclosure rates are the highest since the 1930s.[1] Yet, large-scale government interventions directly in housing or mortgage markets—such as government purchases of delinquent mortgages or vacant houses, involuntary mortgage modifications, or outright mortgage-foreclosure bans—are not necessarily the best policy responses. From the perspective of maximizing long-run economic efficiency, it would be better to allow housing and mortgage markets to sort themselves out, as painful as that may be. Politicians can decide whether and how to help those who were made truly needy by this crisis.
N. Eric Weiss :Congressional Research Service, Library of Congress. Web posted July 21, 2008 – 6 pages
Fannie Mae’s and Freddie Mac’s Financial Problems: Frequently Asked Questions
http://assets.opencrs.com/rpts/RS22916_20080715.pdf
Fannie Mae and Freddie Mac chartered by Congress as government sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Questions about their roles are covered by the report in light of today’s economic environment.
Governor Randall S. Kroszner
Federal Reserve's Initiatives to Support Minority-Owned Institutions and Expand Consumer Protection
Remarks to Minority Depository Institutions National Conference, Chicago, Illinois - July 17, 2008
http://www.federalreserve.gov/newsevents/speech/kroszner20080717a.htm
“I am delighted to be here to participate in today's discussion about how we can work together to foster and preserve the strength and vitality of minority depository institutions. These institutions serve essential roles. Most important, they extend credit…to businesses and individuals in neighborhoods that otherwise may not have ready access to loans. They also foster a spirit of entrepreneurship in their communities… I will focus on two important Federal Reserve initiatives. First, I will update you on our new Partnership for Progress program, which is designed to foster and support minority-owned and de novo depository institutions. Second, I plan to discuss the recent finalization of significant Federal Reserve rules implementing certain provisions of the Home Ownership and Equity Protection Act.”
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
The Final Frontier: The Integration of Banking and Commerce
Part 1: The Likely Outcome of Eliminating the Barrier
Federal Reserve Bank of Atlanta - Economic Review - Vol. 93, No. 1, 2008 – Webposted July 2008 - 18 pages
http://www.frbatlanta.org/filelegacydocs/er08no1_wall.pdf
“The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview of the potential gains of integrating banking and commerce.”
Securities Class Action Litigation: The problem, its impact and the path to reform
U.S. Chamber Institute for Legal Reform – Report - July 2008 – 56 pages
http://www.instituteforlegalreform.com/issues/docload.cfm?docId=1213
“Private securities class action lawsuits present a serious threat to the health of U.S. businesses, the prosperity of American families and the strength of our nation's global competitiveness.. Driven by the multibillion dollar plaintiffs' lawyer industry, the system exacts enormous costs on our economy while betraying the individual investors it is designed to assist." The report suggests a number of potential legislative changes.
Peter Tufano and Daniel Schneider
Using Financial Innovation to Support Savers: From Coercion to Excitement
Harvard Business School - Working Paper - Web posted July 3, 2008 – 59 pages
http://www.hbs.edu/research/pdf/08-075.pdf
The paper shows the wide range of solutions to the problem of low family savings. Families save for a wide variety of purposes, including education, retirement, and others like rainy days or emergencies. Given societal pressures to consume, and given the diversity among people, there is no single solution to the savings problem. A wide variety of programs that support savings by families, in particular by low- and moderate-income families are reviewed. These programs range from ones that literally compel families to save, to those that make it hard not to save, make it easier to save, provide financial incentives to induce savings, leverage social networks to support savers, and finally, to programs that excite people to saving.
Senate Committee on Banking – Hearing – July 15, 2008
http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=8f6a9350-3d39-43a0-bbfb-953403ab19cc
Witnesses:
Henry M. Paulson , Jr., Secretary of the Treasury
Ben S. Bernanke , Chairman, Board of Governors of the Federal Reserve System
Christopher Cox , Chairman, Securities and Exchange Commission
Systemic Risk and the Financial Markets (1)
US House of Representatives - Committee on Financial Services – Hearing - July 10, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr071008.shtml
Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke appeared at the first of a series of hearings on the policy implications of the transformation of domestic and international financial markets, with a primary focus on the rise of potential systemic risk associated with the dramatic growth in the share of assets held outside the commercial banking system, the complex arrangements that link firms that are regulated differently (or not at all) and the increasing amount of leverage.
Systemic Risk and the Financial Markets (2)
US House of Representatives - Committee on Financial Services – Hearing - July 24, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr072408.shtml
This is the second in a series of hearings on the policy implications of the transformation of domestic and international financial markets. Witnesses for this hearing are New York Federal Reserve President Timothy Geithner, S.E.C. Chairman Christopher Cox.
Speculative Bubbles and Overreaction to Technological Innovation
FRB San Francisco - Economic Letter - June 20, 2008 – 4 pages
http://www.frbsf.org/publications/economics/letter/2008/el2008-18.pdf
“This Economic Letter examines some historical links between speculative bubbles, technological innovation, and capital misallocation.”
William R. Emmons FRB St. Louis - Regional Economist – Article - July 2008
The Mortgage Crisis: Let Markets Work, but Compensate the Truly Needy
http://www.stlouisfed.org/publications/re/2008/c/pages/mortgage.html
Recent mortgage-foreclosure rates are the highest since the 1930s.[1] Yet, large-scale government interventions directly in housing or mortgage markets—such as government purchases of delinquent mortgages or vacant houses, involuntary mortgage modifications, or outright mortgage-foreclosure bans—are not necessarily the best policy responses. From the perspective of maximizing long-run economic efficiency, it would be better to allow housing and mortgage markets to sort themselves out, as painful as that may be. Politicians can decide whether and how to help those who were made truly needy by this crisis.
N. Eric Weiss :Congressional Research Service, Library of Congress. Web posted July 21, 2008 – 6 pages
Fannie Mae’s and Freddie Mac’s Financial Problems: Frequently Asked Questions
http://assets.opencrs.com/rpts/RS22916_20080715.pdf
Fannie Mae and Freddie Mac chartered by Congress as government sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Questions about their roles are covered by the report in light of today’s economic environment.
Governor Randall S. Kroszner
Federal Reserve's Initiatives to Support Minority-Owned Institutions and Expand Consumer Protection
Remarks to Minority Depository Institutions National Conference, Chicago, Illinois - July 17, 2008
http://www.federalreserve.gov/newsevents/speech/kroszner20080717a.htm
“I am delighted to be here to participate in today's discussion about how we can work together to foster and preserve the strength and vitality of minority depository institutions. These institutions serve essential roles. Most important, they extend credit…to businesses and individuals in neighborhoods that otherwise may not have ready access to loans. They also foster a spirit of entrepreneurship in their communities… I will focus on two important Federal Reserve initiatives. First, I will update you on our new Partnership for Progress program, which is designed to foster and support minority-owned and de novo depository institutions. Second, I plan to discuss the recent finalization of significant Federal Reserve rules implementing certain provisions of the Home Ownership and Equity Protection Act.”
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
The Final Frontier: The Integration of Banking and Commerce
Part 1: The Likely Outcome of Eliminating the Barrier
Federal Reserve Bank of Atlanta - Economic Review - Vol. 93, No. 1, 2008 – Webposted July 2008 - 18 pages
http://www.frbatlanta.org/filelegacydocs/er08no1_wall.pdf
“The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview of the potential gains of integrating banking and commerce.”
Securities Class Action Litigation: The problem, its impact and the path to reform
U.S. Chamber Institute for Legal Reform – Report - July 2008 – 56 pages
http://www.instituteforlegalreform.com/issues/docload.cfm?docId=1213
“Private securities class action lawsuits present a serious threat to the health of U.S. businesses, the prosperity of American families and the strength of our nation's global competitiveness.. Driven by the multibillion dollar plaintiffs' lawyer industry, the system exacts enormous costs on our economy while betraying the individual investors it is designed to assist." The report suggests a number of potential legislative changes.
Peter Tufano and Daniel Schneider
Using Financial Innovation to Support Savers: From Coercion to Excitement
Harvard Business School - Working Paper - Web posted July 3, 2008 – 59 pages
http://www.hbs.edu/research/pdf/08-075.pdf
The paper shows the wide range of solutions to the problem of low family savings. Families save for a wide variety of purposes, including education, retirement, and others like rainy days or emergencies. Given societal pressures to consume, and given the diversity among people, there is no single solution to the savings problem. A wide variety of programs that support savings by families, in particular by low- and moderate-income families are reviewed. These programs range from ones that literally compel families to save, to those that make it hard not to save, make it easier to save, provide financial incentives to induce savings, leverage social networks to support savers, and finally, to programs that excite people to saving.
jeudi 12 juin 2008
GROWTH
American Decline or Renewal? – Globalizing Jobs and Technology
House Science and Technology Committee – Hearing – May 22, 2008
http://science.house.gov/publications/hearings_markups_details.aspx?NewsID=2199
"No longer can we in good conscience escape the question: What do we do about the offshoring of American jobs?... Subcommittee Members expressed the importance of federal funding to cultivate American innovation and stimulate the economy here. Witnesses testified about the role and responsibilities of corporations, the relationship between the state and the market, and the ability of technological innovation to ensure our country’s economic prosperity in the absence of changes in the trading system. Members questioned witnesses from domestic firms regarding the cost of producing at home under the current trading system and requested their suggestions as to what the federal government could do to improve this system.”
Wing Thye Woo
Inflation amidst Recession: Policy Prescriptions for Sustaining Stable Growth
The Brookings Institution – Paper - May 14, 2008
http://www.brookings.edu/opinions/2008/0514_inflation_woo.aspx?emc=lm&m=215615&l=51&v=252043
“If the U.S. cannot achieve the international cooperation required for effective financial supervision to alleviate the present stagflation, it is highly improbable that the U.S. can achieve the international cooperation to prevent the worse stagflation created by climate change. The next president must be a strong consensus builder at home and abroad in order to effectively address these numerous challenges.”
Brian W. Cashell and Marc Labonte
Understanding Stagflation and the Risk of Its Recurrence
Congressional Research Service - Library of Congress - Web posted April 28, 2008 - 17 pages
http://assets.opencrs.com/rpts/RL34428_20080331.pdf
The slowing of economic growth and the rising rate of inflation have given rise to concerns that the U.S. economy is at risk of an episode of stagflation. Stagflation describes an economy that is characterized by high rates of both unemployment and inflation. The term came into popular use in the 1970s to describe the economy at that time. Even though recent unemployment and inflation rates are not nearly as high as they were in the 1970s, some economists fear that the recent expansion in monetary and fiscal policy at a time when unemployment is low but rising and energy prices are rising, could lead to a new bout of stagflation in the near future.
Marc Labonte
Evaluating the Potential for a Recession In 2008
Congressional Research Service - Library of Congress – Report - May 13, 2008 – 24 pages
http://assets.opencrs.com/rpts/RL34484_20080513.pdf
“The U.S. economy has faced some bad news lately… A look at the available data suggests that economic growth has slowed considerably, but it is too soon to tell if the economy has entered a recession. Recessions are defined as prolonged and sustained declines in economic activity, so by definition, a persistent downturn cannot be identified until it has persisted. Given the lags between policy changes and their effects on the economy, the economy has not yet felt the full impact of the stimulus package and the Federal Reserve’s actions. Therefore, it is still too early to tell.”
mercredi 4 juin 2008
lundi 12 mai 2008
LA MOBILITE SOCIALE AUX ETATS UNIS
SOURCE Centre de Ressources et d'Information
Ambassade des Etats-Unis
New documents on political and social issues
April 2008
Voir aussi USA: Politique et société
SOCIETE AMERICAINE
DISCRIMINATION AND ECONOMIC MOBILITY
The Urban Institute, April 3, 2008
http://www.urban.org/url.cfm?ID=1001156
Although many researchers have documented lower levels of upward mobility amongst black families, it is difficult to disentangle the effects of discrimination from differences in (sometimes unobservable) characteristics that also contribute to variation in employment, income, health, housing, and wealth outcomes across groups.
EDUCATION AND ECONOMIC MOBILITY
The Urban Institute, April 3, 2008
http://www.urban.org/url.cfm?ID=1001157
Education policy is important to the discussion of mobility because it serves both as an end and a means to an end in eliminating inequalities. In addition to fostering mobility among those directly benefited by it, the children of beneficiaries may indirectly benefit as well. Thus, properly targeted education programs may enhance outcomes in both present and future generations.
THE EFFECTS OF IMMIGRATION ON THE EMPLOYMENT OUTCOMES OF BLACK AMERICANS
The Urban Institute, April 4, 2008
http://www.urban.org/url.cfm?ID=901159
While most evidence suggests that immigration has had a modest negative effect on black employment, especially for those without a high school diploma, changes in immigration law will probably not improve job prospects for young blacks, Senior Fellow Harry Holzer told the U.S. Commission on Civil Rights. He offered six suggestions for policymakers looking to improve outcomes for young African Americans, such as improving their early work experience and occupational training with high-quality career and technical education.
PULLING APART: A STATE-BY-STATE ANALYSIS OF INCOME TRENDS
The Economic Policy Institute, April 2008
http://www.epi.org/studies/pulling08/4-9-08sfp.pdf
The study is based on Census income data that have been adjusted to account for inflation, the impact of
federal taxes, and the cash value of food stamps, subsidized school lunches, and housing vouchers. The
study compares combined data from 2004-2006 with data from the late 1980s and late 1990s, time periods
chosen because they are comparable peaks of their respective business cycles.
STILL AT RISK
The American Enterprise Institute, April 22, 2008
http://www.aei.org/publications/pubID.27846/pub_detail.asp
In 1983, the seismically influential Reagan-era blue-ribbon report “A Nation At Risk” declared, "If an unfriendly foreign power had attempted to impose on America the mediocre educational performance that exists today, we might well have viewed it as an act of war." Twenty-five years later, when it comes to the crucial task of preparing our children for citizenship, how do we fare?
U.S. LEGAL PERMANENT RESIDENTS: 2007
U.S. Department of Homeland Security, March 2008
http://www.dhs.gov/xlibrary/assets/statistics/publications/LPR_FR_2007.pdf
In 2007, a total of 1,052,415 persons became legal permane residents (LPRs) of the United States. The majority of new LPRs (59 percent) already lived in the United States when they were granted lawful permanent residence. Two-thirds were granted permanent residence based on a family relationship with a U.S. citizen or legal permanent resident of the United States. The leading countries of birth of new LPRs were Mexico (14 percent), China (7 percent) and the Philippines (7 percent).
IMMIGRATION AND ECONOMIC MOBILITY
The Urban Institute, April 1st, 2008
http://www.urban.org/url.cfm?ID=1001162
America offers opportunities for many immigrants to improve their earnings relative to what they could earn in their countries of origin, and research suggests that immigrants’ children tend to experience further economic gains. But the effect of immigrant workers on the earnings of low-skilled, native born workers may be significantly negative; some find that the recent influx of low-skilled, immigrant labor makes it more difficult for low-skilled native-born workers to gain higher wages.
Income Inequality, Income Mobility, and Economic Policy: U.S. Trends in the 1980s and 1990s
Congressional Research Service, April 4, 2008
http://fpc.state.gov/documents/organization/103683.pdf
Income inequality has been increasing in the United States over the past 25 years. Several factors have been identified as possibly contributing to increasing income inequality. Some researchers have suggested the decline in unionization and a falling real minimum wage as the primary causes. Others have argued that rising returns to education and skill-biased technological change are the important factors explaining rising inequality. Most analysts agree that the likely explanation for rising income inequality is due to skill-biased technological changes combined with a change in institutions and norms, of which a falling minimum wage and declining unionization are a part.
Inside the Middle Class: Bad Times Hit the Good Life
The Pew Research Center, April 9, 2008
http://pewresearch.org/pubs/793/inside-the-middle-class
Fewer Americans now than at any time in the past half century believe they're moving forward in life.
Americans feel stuck in their tracks. A majority of survey respondents say that in the past five years, they either haven't moved forward in life (25%) or have fallen backwards (31%). This is the most downbeat short-term assessment of personal progress in nearly half a century of polling by the Pew Research Center and the Gallup organization.
The State of Minorities: How Are Minorities Faring in the Economy?
Center for American Progress - April 29, 2008
http://www.americanprogress.org/issues/2008/04/minorities_economy.html
Rapidly increasing amounts of debt, high job losses, skyrocketing gas and food prices, and a tidal wave of foreclosures are driving many American families to the edge of financial ruin. Although all U.S. households are hurt in the economic slowdown, Hispanic and African-American households are more vulnerable; they are likely to suffer first and to suffer more.
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