From the Office of Management and Budget | Advantage zyaada
Purchasing Managers Index of a country measure domestic production (output) new orders (dom and exports) and input stocks
The PMI also includes vendor performance measured by no. of months to supply RM and “Employment”
The US Federal Budget
The ARRA Act allocations for recovery are done and not extended , while most allocations have been operationally tghtended with economic support for review and oversight mechanisms
US has $12 trillion of debt in the economy with the last $1 Trillion from the recovery act. US lost $5 trillion in the first 12 weeks of the July 2008 melee.
The Federal Budget provides for $12.5 billion for Social Security, $28 bn for Small Business, $18.7 bn for NASA, $7.4 bn for Science and Technology and $10.3 bn for the EPA
The US budget increases allocation to Social Security Administration to $12.5 billion to process 5MM retirement claims, survivor and medicare claims apart from 300,000 supp Security Income claims
- Special emphasis on reducing claims backlog of over a million to half at 657K claims at 2010 end.
- The budget for verifying social security claims including disability reviews is also up by 9%.
- Wage reporting to improve to once per quarter.
- The Fed budget supports small business with $28 billion in loan guarantees with $17.5 bn in term loans and revolver.
- These support $39 bn in economic projects and $25 MM in micro-loans (upto $50,000) for unbankable borrowers
- Small Business Loan tickets have now been improved to a ceiling of $5 MM from $2MM and to $5.5 MM for Manufacturing projects
- There is small change for regional economic clusters from SBA
- The Fed budget provides $7.4 bn for the Natl Science Foundation with $766 MM for renewable energy research and new cash for fellowships to encourage students. ($90 MM for a Bio economy)
- At $103 MM, a 14% increase for a science and technology workforce from under represented groups (Black, Hispanic and Tribal)
- NASA’s Moon program ‘Constellation’ was cancelled in favor of heavy-lift rocket systems, cost reduction for future exploration(Exploration Technology Development) and others for an addl $6 bn over 5 years
- NASA budget provides for extension of the Intl Space Station and support for Commercial Launch vehicles.
- The EPA provides for $3.3 BN for Clean Water and Drinking Water State Funds. Provides $1.3 BN for States’ and Tribes’ grants and an operating budget of $4.8 BN
- 800 Clean Water and 500 Drinking Water projects in action nationally in 2010