Spectrum policy and Congress

In March 2010 the Federal Communications Commission (FCC) released the National Broadband Plan (NBP), mandated by Congress to ensure every American has "access to broadband capability." It presented issues to be addressed by regulatory changes, FCC policies, and Congressional action. Last month the Congressional Research Service (CRS) published a paper discussing spectrum issues for the 111th Congress. From the Summary:

A challenge for Congress is to provide decisive policies in an environment where there are many choices but little consensus. In formulating spectrum policy, mainstream viewpoints generally diverge on whether to give priority to market economics or social goals. ...economic policy looks to harness market forces to allocate spectrum efficiently, with spectrum license auctions as the driver. Social policy favors ensuring wireless access to support a variety of social objectives where economic return is not easily quantified, such as improving education, health services, and public safety. Both approaches can stimulate economic growth and job creation.

On legislative issues, the CRS report covers spectrum inventory, the Spectrum Relocation Improvement Act of 2009, H.R. 3019 (pdf, 11pp) and Spectrum Relocation Improvement Act of 2010, S. 3490 (pdf, 11pp), incentive auctions, and the Broadband for First Responders Act of 2010, H.R. 5081, (pdf, 8pp).

Spectrum Policy in the Age of Broadband: Issues for Congress, R40674 (pdf, 36pp/324kB), June 21, 2010, from Open CRS

Safer SAFER

The Congressional Research Service (CRS) reported on the Staffing for Adequate Fire and Emergency Response (SAFER) Act that was enacted in 2003 in response to concerns about the adequacy of firefighter staffing. SAFER is administered by FEMA and is up for reauthorization.

The SAFER Act authorizes grants to career, volunteer, and combination local fire departments for the purpose of increasing the number of firefighters to help communities meet industry-minimum standards and attain 24-hour staffing to provide adequate protection from fire and fire-related hazards. Also authorized are grants to volunteer fire departments for activities related to the recruitment and retention of volunteers.

With the economic downturn and local fire departments' budgetary problems, Congress is considering easing restrictions to enable more participation in the program.

Hawaii received its first SAFER grant of $1.6 million in FY2008.


Staffing for Adequate Fire and Emergency Response: The SAFER Grant Program, RL33375 (pdf, 13pp/176kB), from Open CRS, April 30, 2010

Campaign finance post-Supreme Court

The Congressional Research Service (CRS) has issued a report outlining campaign finance policy options for Congress to consider in response to the Supreme Court's Jan. 21 decision in Citizens United v. Federal Election Commission. CRS cites two "particularly noteworthy" issues from the decision:

First, corporations (and presumably unions) now appear to be permitted to fund advertising explicitly calling for the election or defeat of federal (or state) candidates. Second, previous restrictions on corporate-funded broadcast ads known as electioneering communications have been eased.

CRS discusses six possible options for Congress:

• Maintain the status quo
• Amend the Constitution
• Enact public financing
• Provide campaigns or parties with additional access to funds
• Restrict certain types of expenditures
• Revisit disclosure or disclaimer requirements

Campaign Finance Policy After Citizens United v. Federal Election Commission: Issues and Options for Congress, R41054 (pdf, 11pp/156kB), from Open CRS, Feb. 1, 2010

Who regulates whom?

In a recent paper, the Congressional Research Service (CRS) gives an overview of U.S. financial supervision. It notes: "Historically, major changes in financial regulation in the United States have often come in response to crisis. Thus, one could have predicted that the turmoil beginning in 2007 would lead to calls for reform." CRS did this report to provide a basis for evaluating such legislative proposals. It focuses on H.R.4173, the Wall Street Reform and Consumer Protection Act of 2009, which "would overhaul the financial regulatory structure." The paper includes discussions of capital requirements, federal financial regulators, and unregulated markets and institutions.

Who Regulates Whom? An Overview of U.S. Financial Supervision, R40249 (40pp/404kB), from Open CRS, Dec. 14, 2009

Living longer and the 3-legged stool

That the retirement of boomers and longer life expectancies will strain the traditional three-legged stool of retirement income--Social Security, pensions, and personal savings--is not news, but a report from the Congressional Research Service (CRS) buttresses this projection with data on the demographics and budget issues of seniors. Relating to people 65 and older, the report covers:

• Employment
• Sources and amounts of income
• Household income
• Poverty status
• Changes in income as people age

The report's conclusion is also reiterative:

With Social Security facing a financial shortfall and the number of private-sector pensions continuing to decline, it is likely that a relatively greater share of current workers' future retirement income will have to be financed from their own personal savings.

Income of Americans Aged 65 and Older, 1968 to 2008, RL33387 (pdf, 40pp/324kB), from Open CRS, Nov. 4, 2009

Twitter in Congress

The Congressional Research Service (CRS) analyzed how members of Congress used Twitter during two one-week periods in July and August 2009. Among the data: as of Aug. 2009, 127 Representatives and 31 Senators were registered with Twitter and issued approximately 1,187 tweets during those periods. Of six categories that CRS used--position taking, press or web links, district or state activities, official congressional action, personal, and replies--the most frequent tweets were for press and web links.

From data collected on Sept. 2, 2009, on followers: Congress had a total of 1.7 million+ followers. Representatives had followers ranging from 130 to 13,000+, with the median Representative having 1,617 followers. Senators had followers ranging from 353 to 1.2 million+, with the median being 3,998 followers.

CRS concluded:

As Members continue to embrace new technologies, their use of Twitter and other forms of social media may increase. These mediums allow Members to communicate directly with constituents (and others) in a potentially interactive way that is not possible through mail or e-mail. For Members and their staff, the ability to collect and transmit real time information from constituents could be influential for policy or voting decisions.

Social Networking and Constituent Communication: Member Use of Twitter During a Two-Week Period in the 111th Congress, R40823 (pdf, 15pp/185kB), from Open CRS, Sept. 21, 2009

Insurance reform

Regulation of the insurance industry has been the purview of the states since 1868, according to the Congressional Research Service (CRS) in a recent paper. CRS traces the history of this jurisdiction to the present, with increasing Congressional interest in insurance oversight in the current financial crisis, particularly with the failure of American International Group (AIG).

A major catalyst for congressional interest has been the aftermath of the Gramm-Leach-Bliley Act of 1999 (GLBA), which modernized the regulatory structure for banks and securities firms, but left the insurance sector largely untouched. Many larger insurers, and their trade associations, had previously defended state regulation but consider themselves at a competitive disadvantage in the current regulatory structure. They are now largely arguing for an optional federal charter akin to that available to banks.

CRS summarizes several bills introduced in the current Congress addressing this issue.

Insurance Regulation: Issues, Background, and Legislation in the 111th Congress, R40771 (pdf, 16pp/192kB), from Open CRS, Aug. 19, 2009

PO closures

Citing a May 15, 2009, letter (pdf, 88pp) from the U.S. Postal Service (USPS) to the American Postal Workers Union (APWU), regarding possible closures of post office branches (POBs) and stations (POSs), the Congressional Research Service (CRS) issued a report on the proposed closures and issues for Congress. (Attached to the letter was an 87-page list of the 3,105 POBs and POSs being considered for closing.) CRS stated in its Summary:

Federal law requires the USPS to arrange its delivery and service network to most efficiently serve the public. However, the proposed closures may raise a number of issues, including public participation in the closure process, the effects on postal workers, and the possible effects of closures on communities. Congress may wish to consider a variety of measures to address these possible issues.

Post Office and Retail Postal Facility Closures: Overview and Issues for Congress, R40719 (pdf, 19pp/263kB), from Open CRS, July 23, 2009

See earlier post that includes a GAO testimony on USPS's financial problems.

Consumer Financial Protection Agency

The Congressional Research Service (CRS) recently issued a comparative analysis of the Consumer Financial Protection Agency Act as proposed by the Obama Administration and HR 3126, the Consumer Financial Protection Agency Act of 2009, introduced by Rep. Barney Frank.

The Obama proposal, also called the Consumer Financial Protection Agency Act of 2009 (CFPA Act) (pdf, 152pp), is based on a report (pdf, 89pp) that presents five objectives:

• Promote robust supervision and regulation of financial firms
• Establish comprehensive supervision and regulation of financial markets
• Protect consumers and investors from financial abuse
• Improve tools for managing financial crises
• Raise international regulatory standards and improve international cooperation

CRS questions whether the CFPA, as a dedicated agency for consumer protection, would be an improvement: whether it would add a redundant layer of regulation to federal banking statutes; whether it would stifle financial innovation; and whether the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) would retain their consumer protection role in securities and derivatives markets.

Financial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R. 3126, R40696 (pdf, 14pp/168kB), from Open CRS, July 17, 2009

Information flow

The New York Times reports today on the nonprofit Center for Democracy and Technology efforts to open access to the highly regarded reports and memos of the Congressional Research Service, a research division of the Library of Congress.

The center has been working for years to gain access to the service’s reports. In a recent informal online survey financed by the Sunlight Foundation together with the center and OpenTheGovernment.org, the research service’s reports were the government documents the most respondents wanted to see.

NYT describes the research service as being "by law exclusively for the use of members of Congress." On its webpage CRS defines one of its values:

Confidential. All queries and exchanges with Members of Congress are held in the strictest confidence. Legislators and congressional staff are free to access CRS experts and analysis, explore issues, dispute them, ask questions about them, or float an unusual idea — all without question, challenge or disclosure. CRS employees do not discuss work undertaken for a Member or a committee with another congressional office or with anyone outside the organization.

The Center's website OpenCRS provides access to some CRS reports. NYT further mentions,"In February, Wikileaks, an online source of hard-to-get documents, began offering access to 6,780 of the research service’s reports dating to 1990." Wikileaks claims,

"Members of Congress are free to selectively release CRS reports to the public but are only motivated to do so when they feel the results would assist them politically. Universally embarrassing reports are kept quiet."

Contacted by NYT Janine D’Addario, a spokeswoman for the research service, said

by law, its work is to be exclusive and confidential to Congress. Additionally, a provision in the appropriations bill that finances the service each year forbids it to make its work public.

Recent CRS reports

Recent Congressional Research Service (CRS) reports from Open CRS:

The Federal Deposit Insurance Corporation (FDIC): Summary of Actions in Support of Housing and Financial Markets, R40413 (pdf, 11pp/260kB), March 5, 2009

Discusses recent FDIC actions to support housing and financial markets, including a temporary increase in deposit insurance as required by the Emergency Economic Stabilization Act of 2008, resolution of bank failures, and development of the Temporary Liquidity Guarantee Program (TLGP), and FDIC's role in the Homeowner Affordability and Stability Plan (HASP) to help prevent foreclosures.


The Endangered Species Act (ESA) in the 111th Congress: Conflicting Values and Difficult Choices, R40185 (pdf, 25pp/552kB), Feb. 25, 2009

According to CRS:

The 111th Congress may consider whether to revoke ESA regulations promulgated in the waning days of the Bush Administration that would alter when federal agency consultation is required. In addition, legislation related to global climate change may include provisions that would allocate funds to the U.S. Fish and Wildlife Service’s endangered species program and/or to related funds to assist species adaptation to climate change.

End-of-Life Care: Services, Costs, Ethics, and Quality of Care, R40235 (pdf, 30pp/404kB), Feb. 23, 2009

This report addresses six aspects of end-of-life care:

1. Death and dying: demographic and historical changes
2. Definitions of end-of-life, palliative, and hospice care
3. Costs of end-of-life care
4. End-of-life care laws and ethics
5. Quality of end-of-life care
6. Issues for Congress

Broadband Internet Access and the Digital Divide: Federal Assistance Programs, RL30719 (pdf, 30pp/624kB), Feb. 20, 2009

In encouraging broadband deployment, a key issue for Congress is striking "a balance between providing federal assistance for unserved and underserved areas where the private sector may not be providing acceptable levels of broadband service (and) minimizing any deleterious effects that government intervention in the marketplace may have on competition and private sector investment." CRS sees Congress considering such incentives as creating jobs, targeting next-generation broadband technologies, federal assistance to underserved areas with existing broadband providers, and how broadband stimulus provisions of the American Recovery and Reinvestment Act (ARRA) might fit into the context of a national broadband policy.


Net Neutrality: The Federal Communications Commission's Authority to Enforce its Network Management Principles, R40234 (13pp/176kB), Feb. 20, 2009

Related to the above, this report covers the ruling of the Federal Communications Commission (FCC) that Comcast violated FCC's Internet Policy Statement when it blocked peer-to-peer (P2P) file sharing programs on its network. Comcast has appealed the ruling to the D.C. Circuit Court of Appeals.

Recent CRS reports

Recent Congressional Research Service (CRS) reports from Open CRS:

Economic Stimulus: Issues and Policies, R40104 (pdf, 23pp/327kB), Jan. 23, 2009

This report discusses the current state of the economy, including measures already been taken by monetary authorities; reviews proposed economic stimulus package; assesses need for, magnitude of, design of and potential consequences of fiscal stimulus; and discusses recent and proposed financial interventions.


Proposed Funding for Education in the American Recovery and Reinvestment Act of 2009, R40151 (pdf, 34pp/1.2MB), Jan. 22, 2009

H.R.1 (pdf, 647pp), the "American Recovery and Reinvestment Act of 2009" was introduced in the House on Jan. 26 to promote economic recovery. This report gives an overview of programs that are or would be administered by the U.S. Dept. of Education (ED) in the act under Titles IX and XII. It discusses elementary and secondary education, higher education, the Institute for Education Sciences (IES), and the State Fiscal Stabilization Fund.


Health Insurance Continuation Coverage Under COBRA, R40142 (pdf, 13pp/164kB), Jan. 16, 2009

COBRA requires employers to offer continued health insurance, generally for 18 months, to employees who lose coverage under certain circumstances. CRS reports on COBRA coverage and discusses issues of employer size and retirees and costs for both employees and employers.


States and Proposed Economic Recovery Plans, R40112 (pdf, 16pp/177kB), Jan. 5, 2009

This report examines the arguments presented by the National Conference of State Legislatures (NCSL) and the National Governors Association (NGA) to include state fiscal assistance in an economic recovery plan, several arguments to exclude state assistance from such a plan, and the implications the proposals presented by NCSL and NGA might have for the economy. It also examines issues related to the targeting of state fiscal assistance and arguments for and against including infrastructure construction projects in an economic recovery plan.

Recent CRS reports

Recent Congressional Research Service (CRS) reports from Open CRS:

Safe Drinking Water Act (SDWA): Selected Regulatory and Legislative Issues, RL34201 (pdf, 27pp/176kB), Nov. 26, 2008

The Safe Drinking Water Act (SDWA), first enacted in 1974, is administered by the Environmental Protection Agency (EPA), which delegates primary enforcement of the drinking water program to states and tribes through the Public Water System Supervision (PWSS) program. In the 110th Congress, SDWA issues include: drinking water contaminants; perchlorate and pharmaceuticals and personal care products (PPCPs) in drinking water; drinking water infrastructure needs and funding; small systems (serving 3,300 persons or fewer) issues; and underground injection control (UIC) and geologic sequestration of carbon dioxide to reduce greenhouse gas emissions.


Emergency Communications: The Future of 911, RL34755 (pdf, 36pp/200kB), Nov. 21, 2008

The current 911 infrastructure is based on analog technology that does not support newer, digital technologies, resulting in dropped or misdirected calls. According to CRS, modernizing 911 will require new technologies, collectively referred to as Next Generation 911, that should incorporate Internet Protocol (IP) networks. The most recent legislation passed by Congress, the NET 911 Improvement Act of 2008, P.L. 110-283 (pdf, 8pp), requires a national plan for migrating to an IP-enabled emergency network.


Iceland's Financial Crisis, RS22988 (pdf, 6pp/72kB), Nov. 20, 2008

Among CRS's conclusions:

The failure of Iceland’s banks raises questions about bank supervision and crisis management for governments in Europe and the United States. This incident raises questions about how national governments should address the issue of supervising foreign financial firms that are operating within their borders and how to protect their depositors when a foreign-owned firm may attempt to withdraw deposits from one market in order to offset losses in another.

Arctic National Wildlife Refuge (ANWR): Votes and Legislative Actions, 95th Congress through 110th Congress, RL32838 (pdf, 37pp/204kB), Nov. 19, 2008

The Arctic National Wildlife Refuge (ANWR) comprises 19 million acres that contain undeveloped oil and gas sources as well as a wide range of plants and animals. This report summarizes Congress's attempts to address issues of energy development and preservation in the Refuge, particularly from the 108th through 110th Congresses.

IMF

The Congressional Research Service (CRS) issued a paper on the role of the International Monetary Fund (IMF) in the global financial crisis. CRS sees the IMF mitigating the crisis in two ways: (1) immediate crisis management, and (2) increased surveillance of the global economy. For the first, the IMF activated its Emergency Financing Mechanism (EFM) to expedite loans and has available the Exogenous Shocks Facility (ESF) to assist low-income countries facing events outside their control. CRS says that the "deepening interconnectedness of the international economy" calls for greater cooperation between the IMF and international financial regulatory bodies.

The Global Financial Crisis: The Role of the International Monetary Fund (IMF), RS22976 (pdf, 6pp/76kB), Oct. 27, 2008, from Open CRS

Recent CRS reports

Recent Congressional Research Service (CRS) reports from Open CRS:

Tsunami Detection and Warnings for the United States, RL34506 (pdf, 18pp/436kB), Sept. 25, 2008

This report discusses several components of tsunami warning in the U.S., among them:

• National Tsunami Warning Program (NTWP) consists of two tsunami warning centers located in Palmer, AK, and Ewa Beach, HI
• National Tsunami Hazards Mitigation Program (NTHMP) provides education and outreach through the TsunamiReady program
• Deep Ocean Assessment and Reporting of Tsunamis (DART) buoys; 39 DART buoys form the U.S. tsunami early warning network
• Global Seismographic Network (GSN) and Advanced National Seismic System (ANSS) identify earthquakes for possible onset of tsunamis

Do Not Mail Initiatives and Their Potential Effects: Possible Issues for Congress, RL34643 (pdf, 29pp/176kB), Sept. 24, 2008

Since 2007, according to CRS, 19 states have introduced legislation to create Do Not Mail registries to curb the delivery of junk mail. Here CRS examines possible effects of state registries on the environment, the economy, constitutional issues.

The report includes a table of 12 states that had DNM legislation pending in 2008, Hawaii being one of them. Hawaii's SB908 and HB2592, were introduced in 2007 and 2008, respectively, "to establish a state 'Do-not-mail' registry permitting residential residents--but not commercial entities--to opt-out of receiving certain unsolicited mail." Both bills died.


Food and Agricultural Imports from China, RL34080 (pdf, 24pp/152kB), Sept. 26, 2008

Health and Safety Concerns Over U.S. Imports of Chinese Products: An Overview, RS22713 (pdf, 6pp/76kB), Sept. 22, 2008

The Food and Drug Administration (FDA) and the Dept. of Agriculture (USDA's) Food Safety and Inspection Service (FSIS) have primary responsibility for the nation's food regulatory system. The first report discusses last month's melamine-contaminated milk crisis in China and its implications for exports, bilateral efforts to address Chinese food safety in U.S. imports, and Congressional bills related to food import safety.

The second report is an overview of consumer (toys, tires) and food products that have caused U.S. concerns, Chinese initiatives to improve product safety, bilateral agreements to address health and safety issues, and economic implications such as protectionism and foreign investment in China.


Net Neutrality: Background and Issues, RS22444 (pdf, 6pp/76kB), Sept. 16, 2008

Network neutrality is generally the concept of ensuring "unfettered access to the Internet" by regulating owners of Internet networks. CRS notes that the two most common discriminatory actions against net neutrality are "the network providers’ ability to control access to and the pricing of broadband facilities, and the incentive to favor network-owned content, thereby placing unaffiliated content providers at a competitive disadvantage." The report covers actions by the Federal Communications Commission (FCC) in regulating broadband and Congressional debate and legislation.

Bailout

Open CRS has provided two timely reports from the Congressional Research Service (CRS) on federal intervention in the current Wall Street crisis.

One is on the cost of past and present government interventions. The paper describes current interventions for AIG, Fannie and Freddie, and Bear Stearns, and a table summarizes interventions from the 1970s (Lockheed, Penn Central, New York City), 1980s (Chrysler, S&Ls), 2001 (U.S. Airlines), and the aforementioned firms in 2008.

The second report is on the legislative proposal, as of Sept. 21, for the $700 billion bailout by Treasury. The paper covers (1) various aspects of the draft proposals, among them: debt limit, definition of troubled asset, factors to guide intervention, management of mortgage-related assets, and loss mitigation and loan modification, and (2) FAQ such as: Does the proposal include provisions to help home owners facing foreclosure? How could financial turmoil affect the wider economy if nothing is done? Couldn't the same assets be purchased through Fannie Mae and Freddie Mac now that they are in a conservatorship backed by the Treasury?

The Cost of Government Financial Interventions, Past and Present
RS22956 (pdf, 6pp/68kB), September 23, 2008

Proposal to Allow Treasury to Buy Mortgage Related Assets to Address Financial Instability RS22957 (pdf, 6pp/72kB), September 22, 2008

Recent CRS reports

Recent Congressional Research Service (CRS) reports from Open CRS:

Legal Issues Relating to State Health Care Regulation: ERISA Preemption and Fair Share Laws, RL34637 (pdf, 18pp/124kB), August 26, 2008

Fair share laws require employers to pay for employee health coverage or contribute to a state or local fund for medical expenses for uninsured residents. Can fair share laws be preempted by the Employee Retirement Income Security Act (ERISA)? This report covers cases brought in Maryland, Suffolk County (NY), and San Francisco challenging fair share laws under ERISA, with varying outcomes, and discusses the fair share requirements of Massachusetts Health Care Reform Act, "the most comprehensive health care reform legislation ever enacted by a state."


The Controlled Substances Act: Regulatory Requirements, RL34635 (pdf, 19pp/128kB), August 22, 2008

Through the Controlled Substances Act (CSA), administered and enforced by the Drug Enforcement Administration (DEA), the federal government regulates the production, possession, and distribution of controlled substances for medical, scientific, research, and industrial purposes. This report focuses on the non-criminal requirements of the CSA, noting the penalty provisions applicable to authorized persons handling controlled substances.

Governmental Drug Testing Programs: Legal and Constitutional Developments, RL34624 (pdf, 23pp/152kB), August 19, 2008

This report discusses workplace, employee, preemployment, student, and suspicionless drug tessting, and federally mandated workplace drug testing programs.


Text and Multimedia Messaging: Emerging Issues for Congress, RL34632 (pdf, 16pp/1.58 MB), August 22, 2008

The increasing use of text and multimedia messaging has raised several policy issues: applicability of CAN-SPAM Act to unwanted wireless messages; refusal of some carriers to allow users to disable text messaging; carrier blocking of Common Short Code messages; deceptive and misleading Common Short Code programs; protecting children from inappropriate content on wireless devices; mobile cyberbullying; and balancing user privacy with “Sunshine,” Open Government, and Freedom of Information Laws.

The report discusses the foregoing, as well as using Short Message Service for law enforcement and emergency response.

Wireless Technology and Spectrum Demand: Advanced Wireless Services, RS20993 (pdf, 6pp/72kB), August 12, 2008

From the perspective of spectrum management, a significant difference in the technologies is that 3G, 4G, and WiMAX services operate on designated, licensed frequencies, while Wi-Fi shares unlicensed spectrum with other uses. Policy issues before Congress include the competitive impact on commercial wireless carriers when municipalities offer wireless broadband services, promoting the development of broadband wireless access, and assuring the availability of appropriate spectrum for both licensed and unlicensed applications.

CRS reports on various bills in the 110th Congress relating to broadband.

Fannie Mae & Freddie Mac: FAQ

"Recent turmoil in the housing and financial markets have caused concern over the future of Fannie Mae and Freddie Mac...." begins a 6-page FAQ issued yesterday by the Congressional Research Service (CRS). Fannie Mae and Freddie Mac are chartered by Congress, their "safety and soundness" regulated by the Office of Federal Housing Enterprise Oversight (OFHEO). CRS states: OFHEO "has repeated assurances that Fannie and Freddie have adequate capital, but as highly leveraged financial intermediaries Fannie Mae and Freddie Mac have limited resources against losses."

Among the FAQs:

• Why are Fannie Mae's and Freddie Mac's stock prices declining so much?
• What risks do Fannie Mae and Freddie Mac face in today's economic environment?
• What risks do Fannie Mae and Freddie Mac create for the U.S. government?
• What risks do Fannie Mae's and Freddie Mac's financial problems create for homeowners and those planning to become homeowners?

Fannie Mae's and Freddie Mac's Financial Problems: Frequently Asked Questions, RS22916 (pdf, 6pp/72kB), July 15, 2008, from Open CRS

See also: The Freddie and Fannie Fallout, New York Times, 7.13.08. The author writes:

By issuing debt, (Fannie and Freddie) guarantee or own more than $5 trillion in home mortgages. Got that? $5 trillion.

Because the federal government established the companies, investors view them as backed, at least implicitly, by taxpayers. And that implied guarantee is what drove Fannie and Freddie’s business models.

Wind power

Although wind power now provides only about 1% of the electricity generated in the U.S., it is our fastest growing energy source, according to a recent report from the Congressional Research Service (CRS). Internationally, only Germany exceeds the wind power capacity of the U.S. While covering the broader technology, economic and policy issues of U.S. wind power, the report also cites its specific pros and cons, among them:

Benefits:

• Operations do not produce CO2 or other air pollutants
• Reduces power market exposure to volatile fuel prices
• Assists rural development by giving landowners income from land leases
• May provide more "green jobs" than other power generation options
• Offers shorter construction lead time than some other options

Drawbacks:

• Power output depends on when the wind blows, not when users need electricity
• New transmission infrastructure is often required
• Depends on inconsistent federal incentives
• Causes bird and bat deaths

Wind Power in the United States: Technology, Economic, and Policy Issues, RL34546 (pdf, 53pp/664kB), June 20, 2008, from Open CRS

Transitioning out of foster care

The Congressional Research Service (CRS) published a report on the challenges faced by youth who become emancipated from the foster care system. According to CRS, states have the primary responsibility for child welfare, including foster care, and the federal government provides funding to assist states. The Chafee Foster Care Independence Program (CFCIP) is the primary federal program supporting older youth in foster care. The report covers the following issues and relevant legislation pending in the 110th Congress: foster care for youth 18 and older, permanency, housing, runaway youth, Chafee Education and Training vouchers, Medicaid coverage, and disconnected youth.

Youth Transitioning From Foster Care: Background, Federal Programs, and Issues for Congress, RL34499 (pdf, 82pp/440kB), from Open CRS, May 21, 2008