Asia-Pacific Economic Cooperation (APEC) Leaders Meeting

At the 16th Annual Asia-Pacific Economic Cooperation (APEC) Leaders Meeting in Lima, Peru, President Bush and Fellow APEC Leaders Reaffirmed Their Commitment to Enhancing Economic Growth, Prosperity, Security, and the Quality of Life for all Citizens in the Asia-Pacific Community.

President Bush and other APEC Leaders Discussed The Current Global Financial Turmoil and its Impact on the Asia-Pacific Region:

The Leaders pledged to take coordinated action to restore stability to financial markets and economic growth.
They endorsed the principles and the specific actions to implement those principles identified in the declaration issued at the Summit on Financial Markets and the World Economy.
President Bush and other APEC Leaders Took Concerted Action to Promote Their Shared Goal of Free and Open Trade and Investment in the Asia-Pacific:

The Leaders endorsed a work program to strengthen regional economic integration and accelerate progress towards a Free Trade Area of the Asia-Pacific.
The Leaders agreed on 15 sets of model measures for free trade agreement (FTA) issue-specific chapters to promote high-quality FTAs.
President Bush and other APEC Leaders Resolved to Agree This Year on a Framework that Leads to an Ambitious Conclusion to the WTO Doha Development Agenda and to Refrain from Raising Barriers:

The Leaders challenged their counterparts within and outside of APEC to build on progress achieved to deliver a strong market-opening outcome that creates new trade flows in agriculture, industrial goods, and services.
The Leaders pledged to reach agreement this year on modalities that leads to an ambitious and balanced conclusion to the Doha Round.
The Leaders agreed to refrain from raising barriers to investment or to trade in goods or services, imposing export restrictions, and implementing measures to stimulate exports that violate international trade rules.
President Bush and other APEC Leaders Took Important Steps to Resolve Practical Problems Confronting Commerce by:

Launching an action plan to improve investment climates and increase investment flows.
Endorsing steps to reduce trade transaction costs by 5 percent by 2010.
Agreeing on the APEC Digital Prosperity Checklist to promote information and communication technologies as a drivers for economic growth
Reaffirming their commitment to strengthen protection and enforcement of Intellectual Property Rights and streamline patent procedures.
President Bush and other APEC Leaders Welcomed Continued Efforts by APEC to Ensure the Safety of the Region’s Food Supply:

They endorsed the launch of the Partnership Training Institute Network (PTIN) to strengthen food safety training and called for additional steps to enhance food and product safety in 2009.
President Bush and other APEC Leaders Committed to Work Together to Address High Food Prices:

Leaders pledged regional cooperation, across a range of issues, to address the underlying factors behind high food prices, including efforts on trade, agricultural productivity, and promotion of research and development.
They affirmed that concluding the Doha negotiations will be key to addressing high food prices.
President Bush and other APEC Leaders Reaffirmed Their Support for APEC Efforts to Address The Interlinked Challenges Of Energy Security and Climate Change:

Leaders endorsed the Major Economies Leaders’ Declaration on Energy Security and Climate Change and reaffirmed their commitment to reaching an equitable and effective post-2012 international climate change arrangement at the UN Climate Change Conference in Copenhagen.

They expressed appreciation for financial support from Australia, Japan, and the United States for the Clean Technology Fund.

Leaders reaffirmed their commitment to meet the energy needs of regional economies through the operation of well functioning markets that promote trade in energy goods and services, as well as foster an improved investment climate for the development of energy resources.
President Bush Continued to Champion Key Transnational Security Issues in APEC:

Leaders commended APEC efforts to enhance regional emergency preparedness for natural disasters, including development of a strategic plan for increasing cooperation.

Leaders directed APEC economies to increase technical cooperation and capacity building to improve food security, fostering increased agricultural productivity and improved markets, regulatory institutions, and distribution systems.

APEC has made progress in working with private industry to protect the food supply from terrorism, and is taking steps to help economies clamp down on terrorist financing.

Leaders also urged APEC members to strengthen cooperation to combat corruption and increase transparency.
Background on APEC:

APEC was established in Australia in 1989 to promote economic cooperation and prosperity.
The United States hosted the first meeting at the Leaders’ level at Blake Island in 1993, and will host in 2011.
APEC consists of 21 member economies, representing 60% of U.S. exports, 55% of world GDP, 45% of world trade, and 2.7 billion consumers.

Bush with troops at Fort Campbell

President George W. Bush waves to the troops at Fort Campbell, Ky., Tuesday, Nov. 25, 2008, after being introduced on stage during a Thanksgiving visit. Said the President, Over the past seven years, folks from this base have done exactly what they were trained to do. You have taken the battle of the terrorists overseas so we do not have to face them here in the United States. You have helped counter the hateful ideology of tyranny and terror with a more hopeful vision of justice and liberty. You’re part of the great ideological struggle of our time. With the soldiers of Fort Campbell out front, the forces of freedom and liberty will prevail.
 
President George W. Bush waves to the troops at Fort Campbell, Ky., Tuesday, Nov. 25, 2008, after being introduced on stage during aThanksgiving visit. Said the President, “Over the past seven years, folks from this base have done exactly what they were trained to do.” “You have taken the battle of the terrorists overseas so we do not have to face them here in the United States. You have helped counter the hateful ideology of tyranny and terror with a more hopeful vision of justice and liberty. You’re part of the great ideological struggle of our time. With the soldiers of Fort Campbell out front, the forces of freedom and liberty will prevail. Looking for some christimas money go to Foundmoney to look for some Unclaimed cash

Unclaimed Gift Cards

Did you know that companies selling gift cards can go broke at anytime. Once this happens the person holding the gift is left with nothing. Be carefull on who you buy gift certificates from this Christmas, especially from all the bankrupcies taking place, such as Circuit City. Some states require the merchant to hand over the unclaimed cash from gift certificates that have not been used.

To be on the safe side, make sure you use the gift certicate before it becomes money unclaimed. Check out a side by found money to check out some unclaimed bank accounts.

President Bush Hosts Dinner with Summit on Financial Markets and World Economy Participants

THE PRESIDENT: Your Excellencies: Welcome to the United States. Welcome to the White House. And welcome to the Summit on Financial Markets and the World Economy.

I do want to begin my remarks by extending our heartfelt sympathies and prayers to Prime Minister Balkenende. He landed today and called me on the phone to inform me that his father had passed away. He returned back to his country to be with his family, and we wish them all the very best.

In the State Dining Room tonight are representatives of major industrialized economies, some of the largest developing economies, and key international financial institutions. We are here because we share a concern about the impact of the global financial crisis on the people of our nations. We share a determination to fix the problems that led to this turmoil. We share a conviction that by working together, we can restore the global economy to the path of long-term prosperity.

When we sit down at the summit table tomorrow, we bring clear priorities. Tomorrow’s discussion will be the first in a series of meetings. It will focus on key [sic] five objectives: understanding the causes of the global crisis, reviewing the effectiveness of our responses thus far, identifying principles for reforming our financial and regulatory systems, launching a specific action plan to implement those principles, and reaffirming our conviction that free market principles offer the surest path to lasting prosperity.

As we pursue these objectives, we can build on what we have achieved together so far. Since the outbreak of the crisis, the world’s leading nations have coordinated our actions more closely than ever before. Thanks in large part to these decisive measures, global credit markets are beginning to thaw. Businesses around the world are regaining access to essential short-term financing. And stability is beginning to return to the international financial system. This problem did not develop overnight, and it will not be solved overnight. But with continued cooperation and determination, it will be solved.

There is more work to do beyond the immediate crisis, and the stakes are indeed high. Billions of hardworking people are counting on us to strengthen our financial systems for the long term. Families need credit to buy homes and to fund education. Businesses need capital to expand their operations so they can hire new employees. Older workers are counting on pensions and retirement funds to support them in their retirement years. Developing nations need the assistance they have been promised — as well as additional foreign investment — to continue their journey from poverty to promise. All over the world, people understand that their livelihoods depend upon a healthy and growing global economy.

The surest path to that growth is to continue policies of free and open markets. Free market capitalism has been an engine of prosperity, progress, and social mobility in economies all over the globe. Trade and investment have been — have linked our economies together — creating new customers for businesses and workers, and greater choices and lower prices for consumers. All our nations must reject calls for protectionism, collectivism, and defeatism in the face of our current challenge.

I thank you all for coming tonight, and for your commitment to this urgent work. And with confidence in the success of our efforts, I offer a toast: to all of you, to the principles we share, and to the people we serve.

(A toast was offered.)

---

Return to this article at:
Vist the Whitehouse for more news

For some unclaimed tax checks go to http://foundmoney

President Bush Attends United Nations High-Level Debate on Interfaith

THE PRESIDENT: Mr. Secretary General, distinguished guests, ladies and gentlemen: Laura and I are pleased to be back here at the United Nations, and I am grateful for the opportunity to once again address the General Assembly.

I want to thank King Abdallah of Saudi Arabia for his leadership and for convincing us all to come together to speak about faith. I appreciate the participants who recognize the transformative and uplifting power of faith.

One of my core beliefs is that there is an Almighty God — and that every man, woman, and child on the face of this Earth bears His image. Many years ago, faith changed my life. Faith has sustained me through the challenges and the joys of my Presidency. And faith will guide me for the rest of my days.

I know many of the leaders gathered in this assembly have been influenced by faith, as well. We may profess different creeds and worship in different places, but our faith leads us to common values. We believe God calls us to love our neighbors, and to treat one another with compassion and respect. We believe God calls us to honor the dignity of all life, and to speak against cruelty and injustice. We believe God calls us to live in peace — and to oppose all those who use His name to justify violence and murder.

Freedom is God’s gift to every man, woman, and child — and that freedom includes the right of all people to worship as they see fit. Sixty years ago, members of the United Nations General Assembly acknowledged this truth when we adopted the Universal Declaration of Human Rights. The Declaration proclaims that everyone has the right to choose or change religions, and the right to worship in private or in public.

The United States strongly supported the adoption of the Universal Declaration — in fact, the American delegation was led by a former First Lady, Eleanor Roosevelt. When we voted for the Universal Declaration, the American people reaffirmed a conviction that dates back to our earliest days. Our nation was founded by people seeking haven from religious persecution. The First Amendment of our Constitution guarantees the “free exercise” of religion for all. And through the generations, our nation has helped defend the religious liberty of others — from liberating the concentration camps of Europe, to protecting Muslims in places like Kosovo, Afghanistan, and Iraq.

Today, the United States is carrying on that noble tradition by making religious liberty a central element of our foreign policy. We’ve established a Commission on the International Religious Freedom to monitor the state of religious liberty worldwide. We strongly encourage nations to understand that religious freedom is the foundation of a healthy and hopeful society. We’re not afraid to stand with religious dissidents and believers who practice their faith, even where it is unwelcome.

One of the best ways to safeguard religious freedom is to aid the rise of democracy. Democratic governments don’t all look alike. Each reflects the history and traditions of its own people. But one way — but one of the defining features of any democracy is that it makes room for people of all backgrounds and all faiths. Democracies allow people with diverse views to discuss their differences and live in harmony.

The expansion of democracy also represents the most promising path to peace. People who are free to express their opinions can challenge the ideologies of hate. They can defend their religious beliefs and speak out against those seeking to twist them to evil ends. They can prevent their children from falling under the sway of extremists by giving them a more hopeful alternative.

Over the past eight years, I’ve been privileged to see how freedom and faith can lift up lives and lead the world toward peace. I remember clearly a congregation in the state of Kansas in my country whose members stayed together and prayed together, even when a tornado had torn down their church. I’ve seen faithful caregivers on the continent of Africa who take AIDS patients given up for dead and restore them to health. I have seen mothers across the Middle East whose faith leads them to dream of a better and more peaceful future for their children — a dream shared by mothers all around the world.

I appreciate every nation participating in today’s dialogue. Through dialogue we can draw closer to the day when our prayers for freedom and peace are answered — and every person on Earth enjoys the rights and dignity granted by an Almighty God.

 

Check out a site called Found Money to do a unclaimed online search for unclaimed financial information.

More About Patents

I. Introduction

The U. S. Patent & Trademark Office (USPTO) examines patent applications to determine whether the statutory conditions of patentability have been satisfied. The primary duty of the patent examiner is to perform a search of the relevant prior art and determine if the claimed subject matter is patentable.

As is the case for inventions in any field of technology, patentability determination under 35 U.S.C. 102 and 103 of a claimed computer-implemented business method invention begins with a comparison of the claimed subject matter to what is known in the prior art. If no differences are found between the claimed invention and the prior art, the corresponding claims are rejected under 35 U.S.C. 102 as lacking novelty. If the prior art does not identically disclose the claimed invention but would have suggested the claimed invention to one of ordinary skill in the art, the corresponding claims are rejected as being unpatentable under 35 U.S.C. 103.

Patent examiners carry the responsibility of making sure that the standard of patentability enunciated by the Supreme Court in Graham v. John Deere is applied in each and every case. The four factual inquiries to determine obviousness enunciated by the Supreme Court in Graham are (1) determine the scope and contents of the prior art, (2) ascertain the differences between the prior art and the claims in issue, (3) resolve the level of ordinary skill in the pertinent art, and (4) evaluate evidence of secondary considerations.

The examiner bears the initial burden of factually supporting any prima facie conclusion of obviousness. If the examiner does not produce a prima facie case, the applicant is under no obligation to submit evidence of nonobviousness. If, however, the examiner does produce a prima facie case, the burden of coming forward with evidence or arguments shifts to the applicant who may submit additional evidence that the claimed invention possesses improved properties not expected by the prior art. The initial evaluation of prima facie obviousness thus relieves both the examiner and applicant from evaluating evidence beyond the prior art and the evidence in the specification as filed until a case has been made that the prior art would have suggested the claimed invention to one of ordinary skill in the pertinent art.

This paper discusses the evaluation of obviousness in the USPTO. The procedure for gathering and evaluating the relevant evidence is the subject of Part II, and the analysis of that evidence is the subject of Part III. Communication of a rejection in the written Office action, including representative examples involving business methods, is the subject of Part IV.

II. The Basic Factual Inquiries

1. The Graham inquires

The basic factual inquires guiding the search and evaluation of the prior art were outlined in 1966 by the Supreme Court in Graham v. John Deere as follows:

(1) Determining the scope and content of the prior art;

(2) Ascertaining the differences between the prior art and the claims in issue;

(3) Resolving the level of ordinary skill in the pertinent art; and

(4) Evaluating any objective evidence of nonobviousness (i.e., so-called “secondary considerations”).

The examiner first determines the most probable field of search for the invention as claimed and described in the specification of the patent application. The most probable field of search includes the same field of applicant’s endeavor as well as analogous areas. The examiner must also determine the content of the prior art. The content of the prior art is determined at the time the invention was made to avoid hindsight. These inquiries determine the scope and content of the prior art. Second, the examiner determines the differences between the prior art and the claim(s). Ascertaining the differences between the prior art and the claims requires interpreting the claim language and considering both the claimed invention and the prior art reference as a whole. Third, the examiner determines the level of ordinary skill in the art. Factors that may be considered in determining level of ordinary skill in the art include (1) the educational level of the inventor, (2) type of problems encountered in the art, (3) prior art solutions to those problems, (4) rapidity with which innovations are made, (5) sophistication of the technology, and (6) educational level of active workers in the field.

B. Gathering the Facts

The basic factual inquiries outlined in Graham are normally carried out by:

(1) Determining where to search and what to search for;

(2) Determining whether art found during the search qualifies as “prior art;”

(3) Determining the relevancy of each piece of prior art to the claimed subject matter. (i.e., which piece of art is closest to the claimed invention, what are the differences between the closest prior art reference and the claims, and where are the individual differences shown in the prior art).

This procedure is discussed in detail in the following sections.

1. Determining where to search and what to search for.

The question asked by 35 U.S.C. 103 is whether the “subject matter as a whole” would have been obvious at the time of the invention. In determining where to search and what to search for, the examiner must consider the invention “as a whole.”

a. What to search for:

The scope of the claimed invention must be clearly determined prior to searching. During patent examination, the claims are given the broadest reasonable interpretation consistent with the specification. The search should not be limited only to the literal elements set forth in the claims. The search should, insofar as possible, also cover all subject matter which the examiner reasonably anticipates might be incorporated into applicant’s amendment. The initial search should be sufficiently complete such that only an update search is needed in the second action, unless necessitated by amendments to the claims by the applicant in reply to the first Office action.

b. Where to search:

In the examination of an application for patent, an examiner must conduct a thorough search of the prior art. Planning a thorough search of the prior art requires three distinct steps by the examiner: (1) identifying the field of search; (2) selecting the proper tool(s) to perform the search; and (3) determining the appropriate search strategy for each search tool selected.

When determining the field of search, three reference sources must be considered – domestic patents, foreign patent documents, and nonpatent literature (NPL). None of these sources can be eliminated from the search unless the examiner has and can justify a reasonable certainty that no references, more pertinent than those already identified, are likely to be found in the sources(s) eliminated. The field of search should be prioritized, starting with the area(s) where the invention would most likely be found in the prior art. The highest probability of finding the closest prior art reference is in the same “field of endeavor” as the claimed invention. This is the basic search area which contains the largest number of claimed elements found in combination. Differences not found in the inventor’s field of endeavor are then searched in, analogous arts, i.e., those which address the same or a similar problem with which the inventor was involved.

Having determined the field of search, the examiner should then determine what search tools should be employed in conducting the search. Examiners are provided access to a wide variety of both manual and automated search tools. Choice of search tools is a key factor in ensuring that the most relevant prior art is found during the search. The choice of search tools to be used is based on the examiner’s knowledge of the coverage, strengths and weaknesses of the available search tools that are appropriate for use in an examiner’s assigned art. Search tool knowledge is particularly important for examiners in arts (e.g., very active, high technology) where patent documents may seriously lag invention and, consequently, represent a reference source of limited value. These examiners must take special care to ensure that their searches include consideration of NPL and employ the effective use of tools specialized to cover NPL pertinent to their search needs.

Having determined what search tool(s) should be used to conduct the search, the examiner should then determine the appropriate search strategy for each search tool selected. The appropriate search strategy should be determined by the examiner on a case-by-case basis along with consultation with other examiners and/or supervisory patent examiners, where appropriate.

2. Determining whether art found during the search qualifies as “prior art” under 35 U.S.C. 102.

Art found during the search must qualify as “prior art” as defined by 35 U.S.C. 102 before it can be used to reject a claimed invention. This involves determination of when art became public, who was the source of the art (e.g., the inventor or another party), and whether the art satisfies the enablement provision of 35 U.S.C. 112, first paragraph. Subject matter that is prior art under 35 U.S.C. 102 can be used to support a rejection under 35 U.S.C. 103.

Prior art typically includes documentary information in published form and certain types of non-documentary information, as discussed below.

a. Documentary information

Publicly available documents, such as issued patents and printed publications, are most commonly used in prior art rejections. A reference is a “printed publication” if it is accessible to the public. Printed documents usually have specific publication dates that make it easy to objectively determine if they qualify as prior art under 35 U.S.C. 102.

An electronic publication, including an on-line database or Internet publication, is considered to be a “printed publication” within the meaning of 35 U.S.C. 102(a) and (b) provided the publication was accessible to persons concerned with the art to which the document relates.

b. Non-documentary information

Publicly available information in non-published form may also qualify as prior art. Common examples include admissions by the applicant, well-known scientific principles, or common knowledge in the art.

(i) Admissions

Statements made in the specification or in other papers submitted during prosecution that certain information was known to the applicant prior to the date of invention constitutes prior art. An admission of prior art can be used for any purpose, including rejections under 35 U.S.C. 103. It is not necessary to cite a corroborating reference to support the admission. However, the applicant may later assert that a statement was not actually intended as an admission of prior art, or that the intended scope of a statement was different than the interpretation given it by the examiner. Such problems can be minimized if the examiner routinely requests the applicant to submit any supporting documents pertinent to an admission of prior art.

(ii) Common/prior knowledge in the art

Prior art includes all public knowledge demonstrating the level of ordinary skill in the art. The examiner may take official notice of facts outside of the record which are capable of instant and unquestionable demonstration as being “well known in the art.” While an examiner may reject a claim based on common/prior knowledge in the art, this practice is to be applied sparingly. It is always incumbent upon the examiner to find a reference to support a rejection. If the applicant traverses such an assertion the examiner should cite a reference in support of his or her position. When a rejection is based on facts within the personal knowledge of the examiner, the data should be stated as specifically as possible, and the facts must be supported, when called for by the applicant, by an affidavit from the examiner. Such an affidavit is subject to contradiction or explanation by the affidavits of the applicant and other persons. See 37 CFR 1.104(d)(2).

If applicant does not seasonably traverse the well known statement during examination, then the object of the well known statement is taken to be admitted prior art.

3. Determining the relevancy of each piece of prior art to the claimed subject matter.

The examiner continually evaluates art found during the search to determine which art is closest to the claimed invention, whether the prior art shows all differences not shown by the closest prior art and whether the art suggests combining individual teachings.

More info on Patents can be found at http://www.uspto.gov/web/menu/busmethp/busmeth103rej.htm with another site for Unclaimed Financial Information is found at www.foundmoney.com

IRS Refunds

The Internal Revenue Service will be announcing refunds soon.  The IRS has been rthe messengers of unclaimed funds for quite a while and only half of funds discovered are yet to be claimed.

You can look up your name online and you may already find IRS notice attachments in the people search engine results.  One place to check on unclaimed tax checks is found at www.foundmoney.com

Trade Delivers Growth,Jobs, Prosperity and Security at Home

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade Facts

Office of the United States Trade Representative ustr.gov

The United States is the world’s largest economy and largest

exporter and importer. Trade is critical to America’s prosperity – fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services. In just the last 13 years, freer trade has helped raise our GDP by 48 percent. Over the same period the United States has added over 23 million jobs.

The United States is one of the most open economies in the world, and as a result is one of the world’s strongest and most dynamic and competitive. The U.S. economy continues to grow at exceptionally healthy rates and is the envy of the world. But markets abroad are too closed and U.S. goods, farm products, and services face numerous barriers. Reducing trade barriers abroad will give our farmers, ranchers, manufacturers and service providers better access to the 95 percent of the world’s customers living outside our borders.

U.S. Exports Drive Economic Growth:

 

In 2007, U.S. goods and services exports accounted for 12 percent of GDP, and these exports accounted for over 40 percent of overall growth in the U.S. economy in 2007.

Manufacturing- Manufactured exports have increased 128 percent since the end of the last multilateral round a decade ago.  

Agriculture- One of every three U.S. acres is planted for export.  

– U.S. had a record $104 billion surplus in 2007 on exports totaling $473 billion, and these exports have more than doubled (up 136%) since 1994.

Trade Creates Better Jobs:

 

Economic gains from trade translate directly to additional better and higher paying jobs in the United States.

Manufactured exports support more than 1 in 6 manufacturing jobs (according to the Dept of Commerce), and an estimated 5.7 million jobs in the U.S. (estimate for 2005).  

Agriculture exports support 806 thousand jobs in the U.S. (estimate for 2005 by Dept of Agriculture).  

Services account for 8 out of every 10 jobs in the United States – an area of significant growth potential from a successful Doha round.  

U.S. jobs supported by goods exports pay more: an estimated 13 percent to 18 percent more than the U.S. national average. Reducing trade barriers will spur greater exports and the creation of more higher paying U.S. jobs.

Prosperity Flows from Trade:

 

American families benefit from trade and open markets every day. Trade delivers a greater choice of goods – everything from food and furniture to computers and cars – at lower prices.

 

 

Today, U.S. annual incomes are $1 trillion higher, or $9,000 per household, due to increased trade liberalization since 1945 Source: Institute for International Economics (IIE)  

The two major trade agreements of the 1990s – the North American Free Trade Agreement and the Uruguay Round – generate annual benefits of $1300-$2000 for the average American family of four.

If remaining global trade barriers are eliminated, U.S. annual incomes could increase by an additional $500 billion, adding roughly $4,500 per household Source: IIE

Trade Builds International Partnerships for Security:

 

Trade builds transparency, counters corruption, strengthens the rule of law, and encourages economic integration – building partnerships in prosperity for the United States.

 

 

The Central America-Dominican Republic Free Trade Agreement supports freedom, democracy and economic reform in our own neighborhood. In the 1980s, Central America was characterized by civil war, chaos, dictators, and Communist insurgencies. Today, elected leaders in the region are, through CAFTA and other efforts, embracing transparency and economic reform, fighting corruption, and strengthening the rule of law.  

To re-ignite economic growth and expand opportunity in the Middle East, the President proposed on May 9th, 2003 establishing a U.S.-Middle East Free Trade Area within a decade. According to the United Nations, the Middle East attracted just 0.7 percent of global foreign direct investment throughout the 1990s. Exports from the region—over 70 percent of which are accounted for by oil and oil-related products—grew at 1.5 percent per year over the same period, far below a global average growth rate of 6 percent. On a per capita basis, exports are significantly lower today than 20 years ago.  

According to the World Bank, about 25 percent of people in the region live on less than $2 per day. The UN reports that Arab countries have the world’s lowest percentage of people who use the Internet or have access to a computer. The United States is committed to expanding trade in the region and providing economic hope for millions in the Middle East. The 9/11 Commission unanimously recommended that the United States expand trade with the Middle East as way to “encourage development, more open societies, and opportunities for people to improve the lives of their families.”

THE PRESIDENT’S FY09 BUDGET

• Addresses Immediate Economic Challenges

• Ensures Sustained Prosperity

• Keeps America Safe

• Balances the Budget by 2012

Addresses Immediate Economic Challenges

Includes a bipartisan economic growth package that spurs investment and strengthens the Nation’s economy.

 

• Provides approximately $100 billion in temporary relief that would allow Americans to keep more of their paychecks to spend as they see fit. 

   

• Saves businesses approximately $50 billion in near-term taxes through a temporary change to the tax code that will allow American businesses that buy new equipment this year to deduct an additional 50 percent of the cost of their investment in 2008. 

   

• Continues economic growth which is a crucial element in reducing the deficit and balances the budget in 2012, but this growth package, combined with a slowing economy, does contribute to the near-term budget deficit. In FY08 the deficit will represent 2.9 percent of GDP, and 2.7 percent of GDP in FY09. 

Promotes and preserves the American dream of homeownership though education and assistance to combat foreclosures and maintain a stable, healthy housing market.

 

• Increases mortgage financing options for homebuyers and homeowners through reforms in Federal Housing Administration authority such as risk-based pricing to offer a wider variety of mortgage products and create more homeownership opportunities. 

   

• Includes $65 million for the Department of Housing and Urban Development’s Housing Counseling program, and $150 million for the Neighborhood Reinvestment Corporation to help educate consumers, combat foreclosures, and promote a healthier housing market. 

   

• Provides $2 billion for the HOME Investment Partnership program, including $50 million for the American Dream Downpayment Initiative to expand affordable housing and minority homeownership. 

   

• Facilitates public-private partnership – the HOPE NOW Alliance – that includes a group of lenders, loan servicers, mortgage counselors, and investors to identify troubled borrowers and help them refinance or modify their mortgages, so more families can stay in their homes. 

Ensures Sustained Prosperity

Makes tax relief permanent for long-term economic growth and sustainability.

 

• The President’s 2001 and 2003 tax relief fostered economic growth, but is currently set to expire in 2010. Inaction would result in 116 million taxpayers seeing a tax increase of $1,800, on average. 

Improves access for more Americans to affordable health care by fostering a marketplace, encouraging competition, and improving efficiency.

 

• Fosters a marketplace: Levels the playing field for those Americans who do not receive health care through their employer. Replaces the existing – and unlimited – tax exclusion for employer-sponsored insurance with a standard health insurance deduction for everyone. 

   

• Encourages competition: Establishes association health plans for small employers, civic groups, and community organizations. Creates a competitive marketplace across state lines. Reforms medical liability law to reduce frivolous legal proceedings. 

   

• Improves efficiency: Facilitates health information technology advancements through the adoption of policies that will encourage physicians and others to adopt electronic health records and through furthering technologies for safe, secure health information exchange. 

Builds on the success of No Child Left Behind through support of proposals to reauthorize and strengthen the law while also proposing policies to make college more affordable for families.

 

• $14.3 billion for Title I – a 63 percent increase since 2001 – to continue driving improvement through NCLB. Last year, fourth and eighth graders achieved the highest math scores on record. African-American and Hispanic students are making significant progress, posting all-time highs in a number of categories.  

   

• $1 billion for effective, research-based literacy instruction through Reading First. 

   

• $300 million for Pell Grants for Kids. The Federal Pell Grant program, which students can use to attend the public or private college of their choice, Pell Grants for Kids would offer scholarships to low-income children in underperforming elementary and secondary schools, including high schools with significant dropout rates, to help them with the costs of attending an out-of-district public school or nearby private or faith-based school. 

   

• $491 million for School Improvement Grants to help turn around schools in need of improvement. 

   

• $95 billion in financial aid to help 10.9 million students pay for college. 

   

• A $2.6 billion increase in annual appropriations for Pell Grants. This investment, together with funding provided by the College Cost Reduction and Access Act, will support a maximum Pell Grant of $4,800 in 2009, and allow the maximum grant to rise to $5,400 by 2012. 

Keeps the U.S. the most innovative nation in the world by implementing the American Competitiveness Initiative (ACI).

 

• $12.2 billion total for the National Science Foundation, DoE’s Office of Science, and the National Institute of Standards and Technology, an overall funding increase of $1.6 billion, or 15 percent, above the 2008 enacted total of $10.6 billion. 

   

• The President’s FY 2009 Budget returns ACI research to a doubling path to ensure this consensus national priority objective is realized. 

Increases energy security by focusing on renewables, accelerating technological breakthroughs, and expanding traditional sources to reduce our reliance on foreign oil.

 

• $400 million as the first installment of a three-year, $2 billion U.S. commitment to an international clean energy technology fund that will increase and accelerate the deployment of clean technologies in developing nations to help confront climate change. 

   

• Doubles the capacity of the Strategic Petroleum Reserve to 1.5 billion barrels. 

   

• Nuclear power: $242 million for Nuclear Power 2010 to promote the licensing of new nuclear plants through an industry cost-shared effort with streamlined regulatory processes. $302 million for Advanced Fuel Cycle Initiative research and development. 

   

• Coal: $648 million for research, development, and demonstration of advanced coal technologies. This represents a $197 million increase from the President’s FY2008 request and is the largest amount requested for DOE’s coal program in more than 25 years. With private sector match, this budget represents an approximate $1 billion investment in advanced technologies that can produce power from coal with significantly lower carbon emissions. 

Keeps America Safe

Supports the national defense and funding for America’s troops.

 

• $515 billion for the Department of Defense base budget – a nearly 74 percent increase since the President took office – to support military readiness and continue the transformation of our military to meet twenty-first century threats. 

   

• $70 billion for an emergency allowance to support activities related to the Global War on Terror that help achieve the strategic goal of creating free, democratic, and self-governed ally nations in Iraq and Afghanistan. 

Enhances homeland security and terrorism prevention.

 

• 10.7 percent Government-wide increase for improving nuclear detection, expanding cybersecurity, securing borders and removing individuals in the country illegally, and bolstering homeland security functions. 

   

• $500 million for 2,200 new Border Patrol agents to accomplish the President’s goal of more than doubling the size of the Border Patrol. 

   

• Nearly $6 billion to enhance the security of the Nation’s transportation system through increased security personnel, more screening devices, improved passenger checkpoints, and air cargo security inspectors. 

Promotes peace, democracy, and economic opportunity worldwide through diplomatic, development, and reconstruction activities.

 

• 14.9 percent increase for international affairs to support key allies in the Global War on Terror and improve responses to international crises. 

   

• Middle East: $400 million to support freedom in Iraq; $1.1 billion to help build a stable Afghanistan; $75 million for the Palestinian people to promote good governance; $142 million to continue support for the democratic government of Lebanon; and $830 million to help Pakistan achieve stability. 

   

• Mexico and Central America: $550 million for the President’s new initiative to address security concerns, including combating drug trafficking. 

   

• Civilian Response Capability: $249 million to enhance the capability of civilian Government agencies to respond to crises and to create a rapidly deployable civilian reserve corps. 

Balances the Budget by 2012

Maintains proven pro-growth policies – keeping taxes low and restraining government spending – to ensure that near-term deficits are overcome and we achieve a surplus in 2012.

 

• In making tax relief permanent, Federal revenues as a share of the economy average 18.5 percent over the next five years, above the historical average. This demonstrates that Americans are not undertaxed, rather their government needs to control spending. 

   

• Even while increasing some high priorities, overall non-security discretionary spending goes up less then one percent in 2009 and is held flat thereafter. 

Continues to address the long-term challenge of unsustainable entitlement spending.

 

• A balanced budget in 2012 will be short-lived without addressing our biggest budgetary challenge. Spending on entitlement programs like Social Security, Medicare, and Medicaid is growing faster than we can afford, and there are painful choices ahead if America stays on this path: massive tax increases, sudden and drastic cuts in benefits, or crippling deficits. 

   

• Proposes savings of $208 billion over five years in order to lay the foundation for sensible reform while ensuring these crucial programs continue for future generations. This step will reduce the 75-year unfunded obligation in Medicare by nearly one-third. 

Improves results of government programs and instills greater transparency so that taxpayer dollars are spent wisely.

 

• Reviews the effectiveness of government programs and Federal agencies and makes results available for public review at www.expectmore.gov and www.results.gov. 

   

• Reduces or terminates 151 programs totaling more than $18 billion; channels funds toward more effective uses that better align with national priorities. 

   

• Proposes that Congress cut the number and cost of earmarks in half from the FY08 levels on a bill-by-bill basis – a move backed up by a Presidential veto pledge. This builds upon an Executive Order issued by the President directing agencies to ignore earmarks concealed in report language – a step that will bring greater accountability and transparency and help reform the earmarking culture that leads to wasteful and excessive pork-barrel spending. 

   

• Calls on Congress to approve a legislative line-item veto.

http://www.whitehouse.gov/infocus/budget/2009/index.html