BEGIN:VCALENDAR VERSION:2.0 PRODID:-//InvisionCommunity Events 5.0.18//EN METHOD:PUBLISH CALSCALE:GREGORIAN REFRESH-INTERVAL:PT15M X-PUBLISHED-TTL:PT15M X-WR-CALNAME:RMCommunityCalendar NAME:RMCommunityCalendar BEGIN:VTIMEZONE TZID:Europe/London TZURL:https://tzurl.org/zoneinfo/Europe/London X-LIC-LOCATION:Europe/London BEGIN:DAYLIGHT TZOFFSETFROM:+0000 TZOFFSETTO:+0100 TZNAME:BST DTSTART:20240331T020000Z RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:+0100 TZOFFSETTO:+0000 TZNAME:GMT DTSTART:20241027T020000Z RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU END:STANDARD END:VTIMEZONE BEGIN:VEVENT SUMMARY:Economic Corner 3 - December 8th 2024 DTSTAMP:20251122T072621Z SEQUENCE:0 UID:597-7-c3fe8195a3dde498d013e477e2142422@aalbc.com ORGANIZER;CN="richardmurray":noreply@aalbc.com DESCRIPTION:A writer for the Home Box Office show The Watchman said he d idn't comprehend why writers write stories assuming another season. That t ruth can be applied to many government officials. From Eric Adams city of yes\, to Nancy Pelosi's affordable care act elected officials in modernity love policies that extend beyond their time in office. The fiscal questio n of value to the economic corner\, is the financial wisdom in policy that assumes government officials in the future will support the policy as int ended or at all. I argue policy with fiscal actions beyond a time of offi ce is one hundred percent financially inappropriate. Why? it is a financia l gamble. And gambling is never the best financial strategy. The proof is \, all the actions Biden is taking to use up money or place money for cert ain projects in the bureaucracy may not work.  ARTICLE The last actions the Biden administration will take before Trump takes over the White Hous e By  FATIMA HUSSEIN\, MATTHEW DALY and COLLIN BINKLEYUpdated 5:24 A M EST\, November 15\, 2024 WASHINGTON (AP) — Biden administration offic ials are working against the clock doling out billions in grants and takin g other steps to try to preserve at least some of the outgoing president ’s legacy before President-elect Donald Trump takes office in January. “Let’s make every day count\,” President Joe Biden said in an addres s to the nation last week after Vice President Kamala Harris conceded def eat to Trump in the presidential race.Trump has pledged to rescind unspen t funds in Biden’s landmark climate and health care law and stop clea n-energy development projects.“There’s only one administration at a t ime\,” Transportation Secretary Pete Buttigieg told reporters at a news conference Thursday. “That’s true now\, and it will also be true after January 20th. Our responsibility is to make good use of the funds that Co ngress has authorized for us and that we’re responsible for assigning an d disbursing throughout the last three years.” But Trump will control m ore than the purse strings come January. His administration also can propo se new regulations to undo some of what the Biden administration did throu gh the rule-making process.Here are some of the moves the Biden administra tion is taking now: Getting infrastructure spending out the door Biden a dministration officials hope that projects funded under the $1 trillion in frastructure law and $375 billion climate law will endure beyond Biden’s term and are working to ensure that money from the landmark measures cont inues to flow.On Friday\, Buttigieg announced over $3.4 billion in grants for projects designed to improve passenger rail service\, help U.S. ports\ , reduce highway deaths and support domestic manufacturing of sustainable transportation materials.”We are investing in better transportation syst ems that touch every corner of the country and in the workers who will man ufacture materials and build projects\,″ he said. “Communities are goi ng to see safer commutes\, cleaner air and stronger supply chains that we all count on.″ Speeding up environmental goals Announcements of major environmental grants and project approvals have sped up in recent months i n what White House officials describe as “sprinting to the finish” of Biden’s four-year term.The Environmental Protection Agency recently set a nationwide deadline for removal of lead pipes and announced nearly $3 billion to help local water systems comply. The agency also announced tha t oil and gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels.The Energy Departmen t\, meanwhile\, announced a $544 million loan to a Michigan company to exp and manufacturing of high-quality silicon carbide wafers for electric vehi cles. The loan is one of 28 deals totaling $37 billion granted under a cle an-energy loan program that was revived and expanded under Biden.“There is a new urgency to get it all done. We’re seeing explosions of money go ing out the door\,” said Melinda Pierce\, legislative director of the Si erra Club. Biden and his allies ”really want to finish the job they star ted.” Ukraine aid Pentagon press secretary Sabrina Singh told reporter s this week that Biden wants to “spend down the authority that Congress has allocated and authorized before he leaves office. So we’re going to work very hard to make sure that happens.”The Biden administration would have to rush $7.1 billion in weapons — $4.3 billion from the 2024 suppl emental and $2.8 billion that is still on the books in savings due to the Pentagon recalculating the value of systems sent — from the Pentagon’s stockpiles in order to spend all of those funds obligated before Trump is sworn in.There’s also another $2.2 billion available to put weapons sys tems on long-term contracts. However\, recent aid packages have been much smaller in size\, around $200 million to $300 million each.Defense Secreta ry Lloyd Austin has said the funds are already obligated\, which should ma ke them harder to take back because the incoming administration would have to reverse that. Pressure to quickly confirm judicial picks Another pri ority for the White House is getting Senate confirmation of as many feder al judges as possible before Trump’s inauguration on Jan. 20.The Senate this week voted 51-44 to confirm former prosecutor April Perry as a U.S. District Court judge in northern Illinois. More than a dozen pending judi cial nominees have advanced out of the Senate Judiciary Committee\; eight judicial nominations are awaiting committee votes and six are waiting for committee hearings.Trump has urged Republicans to oppose efforts to confi rm judicial nominees. “No Judges should be approved during this period o f time because the Democrats are looking to ram through their Judges as th e Republicans fight over Leadership\,” he wrote on social media site X o n Nov. 10\, before congressional Republicans chose their new leaders. Stu dent loan forgiveness The Education Department has been hurrying to final ize a new federal rule that would cancel student loans for people who face financial hardship. The proposal — one of Biden’s only student loan p lans that hasn’t been halted by federal courts — is in a public commen t period scheduled to end Dec. 2.After that\, the department would have a narrow window to finalize the rule and begin carrying it out\, a process t hat usually takes months. Like Biden’s other efforts\, it would almost c ertainly face a legal challenge.Additionally\, the Biden administration ha s room to speed up student loan cancellation for people who were already p romised relief because they were cheated by their colleges\, said Aaron Am ent\, an Education Department official for the Obama administration and pr esident of the National Student Legal Defense Network.Education Secretary Miguel Cardona could decide that case and others rather than hand them off to the Trump administration\, which is expected to be far friendlier to f or-profit colleges. “It’s a no-brainer\,” Ament said. “There’s a good number of cases that have been sitting on Cardona’s desk. It’s h ard to imagine that those would just be left untouched.”Trump has not ye t said what he would do on student loan forgiveness. However\, he and Rep ublicans have criticized Biden’s efforts. https://apnews.com/article/el ections-trump-transition-biden-tax-spending-2c27fb2239640fdb667f274215b712 fa Prior EpisodeEconomic Corner 2 Post URLhttps://aalbc.com/tc/topic/113 58-economiccorner003/Prior Editionhttps://aalbc.com/tc/events/event/596-ec onomic-corner-2-december-7th-2024/Next Edition https://aalbc.com/tc/event s/event/598-economic-corner-4-december-17th-2024/ DTSTART;VALUE=DATE:20241208 RRULE:FREQ=YEARLY;INTERVAL=1 END:VEVENT END:VCALENDAR