It's
tough to recall a time with so much overlap between government
and private business enterprise.
Government
monetary and fiscal activities are drawing more attention
than ever. Relationships that previously were devoutly separate
have begun to merge. For example, auto union workers are
being transformed into shareholders, and banks now plead
to return money to the government rather than accept it.
The
terms "public" and "private" are becoming
hard to distinguish. Witness the most recent initiative
by the U.S. Department of the Treasury - the Public Private
Partnership Investment Program (PPPIP). A new word, "privblic,"
may enter the financial glossary.
As
government's commercial activities become more integral
to private business, they reach down into everyone's daily
life to a greater degree than ever.
It
may not be enough to rely only upon the media to provide
a meaningful synthesis of these new and untested activities
and relationships. Access to information at its source is
critical to finding clarity.
Here
are some resources that will aid in gathering, evaluating
and making objective decisions regarding current government
economic activities.
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In March, the U.S. Treasury Department launched a new website,
http://financialstability.gov.
It's
designed to showcase the primary mission of the U.S. Treasury
Department and its financial stability plan. The site consolidates
news, program announcements, agency publications and research
data.
It
also provides an excellent glossary of rapidly changing
and frequently used terms and acronyms.
Furthermore,
the site groups the major components of the financial stability
plan, along with the American Recovery and Reinvestment
Act, into these more easily accessible categories:
1) Plan; 2) Programs; 3) Making Homes Affordable; 4) Capital
Assistance; 5) Regulatory Reform; 6) Public-Private Investment;
7) Consumer and Business Lending; and 8) Small Business
and Community. To find these topics, visit http://financialstability.gov/roadtostability/index.html.
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Of course, underneath all of this is the national budget.
On Oct. 1, the United States enters its 2010 fiscal year.
The president will submit a new budget to Congress for approval.
The official budget may be found at http://www.whitehouse.gov/omb/budget.
The
Office of Management and Budget, whose mission is to help
the president oversee the preparation of the federal budget
and to supervise its administration within the 16 executive
branch agencies, creates and maintains the site's information.
The
office also ensures that agency reports, rules, testimony
and proposed legislation are consistent with the president's
budget and with administration policies.
In addition to presenting the current proposed budget, the
website also contains analytical and comparative tools,
such as:
1)
Summary of Terminations, Reductions and Savings; 2) Analytical
Perspectives; 3) Summary Tables; 4) Historical Tables; 5)
Supplemental Materials; and (6) Other Supplements.
Another important information source is the Information
& Regulatory Affairs and Statistical Programs &
Standards page.
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At http://www.whitehouse.gov/omb/inforeg_statpolicy,
there's a wealth of data regarding everything from economic
indicators to studies on race and ethnicity. Furthermore,
the standards used to create the studies are presented.
These standards are intended to ensure integrity and objectivity
in analysis. President Barack Obama also accepts email via
http://www.whitehouse.gov/contact/.
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While the above references are partisan, and may contain
the creators' bias, there are two more impartial sources.
They are the Federal Reserve Board at https://www.federalreserve.gov,
and the Bureau of Economic Analysis of the U.S. Department
of Commerce at http://www.bea.gov/index.htm.
The
Federal Reserve Board site allows access primarily to monetary
data. Under Economic Research & Data (https://www.federalreserve.gov/econresdata),
hundreds of reports and analysis projects are available.
Of
note is the site's data download program, which is designed
to provide interactive access to Federal Reserve Board data,
allowing users to create custom datasets downloadable in
machine-readable electronic formats such as MS-Excel, CSV
and XML.
Publications
are also available from the Federal Reserve site that contain
up-to-the-minute reports from the Federal Open Market Committee
and information regarding recent Federal Reserve Board actions.
The
site, http://www.federalreserve.gov/newsevents/recentactions.htm,
may be the best and most concise early-warning source of
economic information.
The
Bureau of Economic Analysis focuses its presentations on
fiscal data, and groups its analysis into these categories:
1) National; 2) International; 3) Regional; and 4) Industry.
As
with the Federal Reserve site, the bureau provides an interactive
tool at http://www.bea.gov/interactive.htm.
One of the best indicators of economic viability may be
found in the Contributions to Percent Change in Real Gross
Domestic Product report.
With
so much movement and change happening in our financial and
economic systems, and the dramatic shift in government involvement
brought on by the current administration, it's vital to
know where to obtain basic information that's understandable
and unfiltered.