The Banking and Strategy Initiative

The Federal Budget on Education, Energy, Health and Housing

While emerging markets wake up to inadequacies that must be addressed in each of these mandatory structural items of neglectt in the last decade and even in India and China, the desired focus on these sectors is insufficient at best. The US has a developed infrastructure to address each of these known quantities but is losing its hold because of redolent spending excesses and lack of operational controls over the vast landscape of psitive action. Where US itself has never attended to such expenditure the time for the same may well be past as established processes and behaviours will unlikeely be amenable to reform or even basic development.

This part of the budget also includes some USDA allcations ($1.4 bn) for food safety and EPA’s allowances for renewable energy in the DOE and NIH budgets include $1.4 bn in scientific research for biomedical research

Federal Medicaid match programs from the Recovery Act extended by six months for a hefty $25.5 bn

<h3>The Today Items</h3>

Upto $12.5 bn and more for Education including

• $4 bn for K-12 and elementary education reform consolidating 38 K-12 programs into 11 to emphasize competitive funding
• $1,85 bn in Race to the Top and other innovation program for School Dstricts to compare and compete with each other and another $950 mn to recruit and reward teachers. $4bn was earlier awarded to Race to the Top in the Recovery Act
• $490 mn to grow and develop eff charter scools and public school options
• A new overhaul of the Education and secondary Education by the Congress can unlock a further $1 bn for the ESEA Act
• apart from $900mn in school turnaround grants
• $210 MM in Promise Neighbourhoods

The $28.4 bn Dep of Energy budget includes $36 bn authority for loans to Advanced Nuclear Power projects and $500mn for renewable energy (EPA) with a total of $2.4 bn for renewable sources

• It also includes the extra $300 MM for ARPA
• $2.3 bn for applied Energy research in Climate Change
• Assumes basis for rant to transfer to a Low Carbon economy in line with and beyond its commitment at Copenhagen with ssolar, biomass, geothermal and new coal technologies
• $5.1 bn for the Office of Science including 30% for basic energy  research
• $2.7 bn to support nuclear non proliferation
• $7.3 bn in 2010 and $8.1 bn by 2011 to safeguard the nuclear stockpile

The $81.3 bn DHHS budget for Health includes the $25.5 bn extension of the Recovery Act and $2.3 mn support for underserved PHC centers

• Health Insurance Reform incl Health IT Policy for $110 mn incl Electronic Health records and security of Personal Health Information
• $286 mn for a new patient centered healthcare research program introduced in the Recovery Act
• Addl 2 mn pop served under PHC programs of the Recovery Act
• The Health center programs that serve 17 MM people, will become centerpiece of a new neighbourhood development initiative by 2011. Behavioral Health is proposed to be added to the PHCs and 17 new Health Centers added
• Prevention and Wellness strategies for the 10 largest US cities
• $3bn for HIV/AIDS and less than $100mn for substance abuse
• $400 mn against advanced next generation chemical, biological and nuclear threats
• Only half of the $7.6 bn H1N1 supplement is expected to be spent by end 2010
• $3.3 bn in assistance to low income homes for heating / Cooling
• $250mn against CHIP fraud ( child Healthcare Insurance) and HEAT $1 bn for Children;s Healthcare in Head start and Early Head Start and $100mn for elderly health
• $2.3 bn for FDA and $17 bn for Adminsitration of Children and Families
• Mandatory Outlays for Public Health including Medicare and Medicaid for $730,000mn in 2010 and $810,000 in 2011

The $48.1 bn Dep of Housing and Urban Development (HUD) focuses on $4.4 bn for Community Housing and $2.1 bn for the Homeless Grants under the HEARTH ACT $6.9 are additionally generated internally by mortgage insurance premiums and credit enhancement fees:

• The President’s Budget requests $19.6 billion for the Housing Choice Voucher program to help more than two million
  extremely low- to low-income families with rental assistance to live in decent housing in neighborhoods
  of their choice while continuing other mainstream voucher funding.
• Establish a funding program that is transparent and predictable to channel funds to and from public Housing agencies
• Rental Assistance program for 1.3 million rental units
• $250 MM for transformation in high poverty ares by ‘Choice Neighbourhoods’
• The housing budget also includes token amounts to start regional clusters and risk oversight of the FHA; 7% incresa in Foreclosures and $300mn in home counselling
• $27 bn is for Rental assistance ( Tenant and Project based) and $7 billion plus for Public Housing funds

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