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Economics

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This working group is focused on sustainable economics and financial balance within resilient social ecologies.

The mission of this working group is to build sustainable economy and financial balance within resilient social ecologies.

Members

Corey Watts david hastings Elhadj Drame John Girard Kathy Gilbeaux LintonWells
Maeryn Obley mdmcdonald Samuel Bendett

Email address for group

economics@m.resiliencesystem.org

Air Traffic Tower Closures Will Strip Safety Net

      

In this March 12, 2013 photo, an American Eagle jet taxis to a gate past the control tower after landing at the Abraham Lincoln Capital Airport in Springfield, Ill. The airport is one of nearly 240 small airports around the country that will likely shut down their air traffic control towers under federal budget cuts, stripping away a layer of safety during takeoffs and landings and leaving many pilots to manage the most critical stages of flight on their own. (AP Photo/Seth Perlman)

CLICK HERE - List of 149 control towers FAA says will close April 7 due to forced spending cuts - via CNN (4 page .PDF file)

Associated Press - by Jason Keyser - March 15, 2013

CHICAGO (AP) — The planned shutdown of up to 238 air traffic control towers across the country under federal budget cuts will strip away an extra layer of safety during takeoffs and landings, leaving pilots to manage the most critical stages of flight on their own.

State Expropriation for New Hospital Includes Those Who Rebuilt After Katrina

nola.com : by Bill Barrow;  September 21, 2010

Like tens of thousands of New Orleanians, Barbara and Larry Dillon returned after Hurricane Katrina to find their home ravaged by water that a government-built levee system did not contain.

Many months later, the couple accepted $51,000 from the taxpayer-financed Road Home program and, combined with insurance proceeds, restored their South Tonti Street home, resettling in May 2007.

Now, less than three years later, the Dillons are about to accept a buyout -- financed by the same federal Community Development Block Grant sources as the Road Home -- to leave their home, as the state and federal governments prepare to build adjacent hospitals on 70 acres in lower Mid-City.

(CLICK HERE FOR COMPLETE ARTICLE)

Fear of U.S. Cuts Grows in States Where Aid Flows

nytimes.com - by Michael Cooper - February 22, 2013

States are increasingly alarmed that they could become collateral damage in Washington’s latest fiscal battle, fearing that the impasse could saddle them with across-the-board spending cuts that threaten to slow their fragile recoveries or thrust them back into recession.

Some states, like Maryland and Virginia, are vulnerable because their economies are heavily dependent on federal workers, federal contracts and military spending, which will face steep reductions if Congress allows the automatic cuts, known as sequestration, to begin next Friday. Others, including Illinois and South Dakota, are at risk because of their reliance on the types of federal grants that are scheduled to be cut.

(READ COMPLETE ARTICLE)

Defence Cuts - The Enemy Within

       

Ships lie uselessly at anchor and lay-offs loom as deep Congress-imposed spending cuts look ever more likely to go ahead

economist.com - February 23, 2013

“HOW can Congress go on a recess with the country in the shape it’s in?” asks a constituent of Bobby Scott, a Democratic congressman for the Hampton Roads region of Virginia, to applause and cries of “Amen!” The angry voter is referring to the “sequester”, an unpopular slate of cuts to the federal budget due to take effect on March 1st unless Congress intervenes. The cuts, as Mr Scott explains, were intended to be so painful that lawmakers would feel obliged to come up with some sort of substitute.

(READ COMPLETE ARTICLE)

Transparency in Supply Chains: A Convergence of Possibilities

csi.gsb.stanford.edu - Kriss - February 4, 2013

Where do the products we buy come from and how do we know that their production doesn’t leave a wake of environmental damage or exploited workers? Even brands we think we trust are often linked to suppliers with questionable or downright abusive practices, as exemplified in the November factory fire in Bangladesh, where 112 workers were killed at a factory that supplied Walmart, Sears and even the U.S. Marine Corps, though all claim they had no idea that apparel produced there was destined for their stores.

Global supply chains are complex and opaque, with many layers of suppliers, distant and inconsistent regulatory environments, and intermittent and sometimes unreliable audits and reporting.

(READ COMPLETE ARTICLE)

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Why 58 Representatives Who Voted for Hurricane Katrina Aid Voted Against Aid for Sandy

      

Damage in the Rockaway neighborhood in Queens, N.Y., where the historic boardwalk was washed away during Hurricane Sandy on Oct. 31, 2012. (Spencer Platt/Getty Images)

propublica.org - by Theodoric Meyer - January 18, 2013

When Hurricane Katrina hit in 2005, Congress passed two relief bills almost unanimously. But when it comes to Hurricane Sandy, some in Congress seem to have had a change of heart.

In total, 58 representatives voted against bills this month similar to ones that they had supported after Katrina.

Here's a breakdown of how each of them voted on the two Katrina bills and the two Sandy ones:

(READ COMPLETE ARTICLE)

U.S. to Overtake Saudi Arabia, Russia as World's Top Energy Producer

Oil derricks like this one outside of Williston, North Dakota, are part of a shale oil boom that has helped put the United States on track to overtake Saudi Arabia as the world's leading oil producer. Photograph by Gregory Bull, AP

Image: Oil derricks like this one outside of Williston, North Dakota, are part of a shale oil boom that has helped put the United States on track to overtake Saudi Arabia as the world's leading oil producer. Photograph by Gregory Bull, AP

news.nationalgeographic.com - November 12th, 2012 - Theodore K. Grose

In an indication of how "fracking" is reshaping the global energy picture, the International Energy Agency today projected that the United States will overtake Saudi Arabia as the world's largest oil producer by 2017.

And within just three years, the United States will unseat Russia as the largest producer of natural gas.

Both results would have been unthinkable even a few short years ago, but the future geography of supply has shifted dramatically due to what IEA calls America's "energy renaissance."

U.S. fiscal cliff, Europe's debt woes worry G20

reuters.com - November 4th, 2012 - Krista Hughes and Julien Toyer

Finance chiefs of leading economies pressed the United States on Sunday to avert a rush of spending cuts and tax hikes that could hurt global output next year, though some countries still saw Europe's debt crisis as the No. 1 danger.

Unless a fractious Congress can move quickly to reach a deal after Tuesday's U.S. elections, about $600 billion in government spending cuts and higher taxes are set to kick in from Jan. 1, threatening to push the American economy back into recession.
   
"They need to act swiftly on the fiscal cliff and then they will need to put in place a medium-term fiscal consolidation," Australian Treasurer Wayne Swan told Reuters before ministers from the Group of 20 countries gathered for talks.

(VIEW COMPLETE ARTICLE)

Hurricane Sandy's Economic Damage Could Reach $50 Billion, Eqecat Estimates

huffingtonpost.com - November 1st, 2012 - Matthew Craft

Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history, according to the forecasting firm Eqecat. That would rank it right behind Hurricane Katrina.

Eqecat said Thursday that the damage from the storm will likely be far worse than it previously predicted, largely a result of Sandy hitting the most densely populated area in the country.

The firm doubled its previous estimate for the total bill and now says Sandy may have caused between $30 billion and $50 billion in economic losses, including property damage, lost business and extra living expenses.

(VIEW COMPLETE ARTICLE)

House Leaders to HHS: Halt and Fix the EHR Incentive Program

healthdatamanagement.com - by Joseph Goedert - October 5, 2012

Four powerful members of the U.S. House and Representatives have sent a letter to HHS Secretary Kathleen Sebelius calling for an immediate halt to the electronic health records meaningful use incentive program, which they consider to be weak.

. . . The House members contend the meaningful use program is not meeting its goals, has wasted $10 billion and may do more harm than good. What follows is text of their Oct. 4 letter to Sebelius:

“We are writing to express serious concerns about the final Electronic Health Record Stage 2 Meaningful Use Program rules recently issued by the Centers for Medicare and Medicaid Services and the Office of the National Coordinator for Health Information Technology. We believe that the Stage 2 rules are, in some respects, weaker than the proposed Stage 1 regulations released in 2009. The result will be a less efficient system that squanders taxpayer dollars and does little, if anything, to improve outcomes for Medicare.

(READ COMPLETE ARTICLE)

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