Treasury Secretary Geithner comments on new economy policies

Secretary Geithner spoke today about America's financial crises and the new administration's actions. The issue regarding the banks situation worldwide and its important in getting credit flowing again, was emphasized. Without credit the economy cannot grow, Geitner said.

Geithner also stated that the causes are many for the crisis. Part of it is that banks are giving to much credit, taking too many risks, and individual businesses are borrowing too much.

Geither described the jump starting of jobs and ensuring of credit to families and businesses as key issues. He also stated that one of America's current problems is that families all over the country are losing faith in authority. To be able to restore faith among people, the government needs to act and reform new polices. The two pronged approach that was presented was, job creation and private investment, and getting credit flowing again. Geithner presented policies such as a new consumer spending program that will support credit. In addition, a program that makes loans more available. In the upcoming weeks, a housing plan will also be presented.

With the new policies consumers will be able to view more actions that are affecting the lending and borrowing practices of processes of the banks. Actions that the government takes in reference to the banks will help create a new capital effort and help them to get back on track. A new private/public investment fund will also be created to support loans and help private markets. By supporting consumers and business lending, the economy can be turned around. Geithner stated that the new polices will take time, money, and risks by the government.

Senator Levin active concerning Armed Services

Sen. Carl Levin (D-Mich.) gave an overview of the goals of the Armed Services Committee during a news conference today. The Committee will focus on several non-budget items this year, and according to Levin the plan is still to take the troops out of Iraq within the next 16 months.

One of the items on the agenda is a move to place Afghan troops on the border and place the border patrol under the ministry of defense. Another major initiative will be to take on acquisition reform with focus on the overrun costs of 300 billion dollars, the oversights on wounded soldier legislation, and taking advantage of the lessons learned from using security contractors. According to Levin, it is time to face the reality that there have to be budget cuts.

Sen. Levin also discussed the potential for working with Russia on missile defense in order to create an alliance against Iran. He said that if Iran can see the U.S. and Russia coming together that he ”can't exaggerate the power of such an impact.”

Levin voiced concern over the amount of private sectors that are performing governmental functions. He also warned that we have to be careful to not "Americanize" the Afghan army, like we did with Iraq.

In regard to the William J. Lynn III nomination for Deputy Defense Secretary, Sen. Levin stated that additional information has been requested and he still supports the nomination. Levin said that there is a strict set of rules applied to nominees, and that Lynn is no exception.

by Suzia van Swol, University of New Mexico-Talk Radio News Service

Vilsack Sets Out Top Priorities for USDA

By Kayleigh Harvey - Talk Radio News Service

In a conference call today, Agriculture Secretary, Tom Vilsack set out the key areas the American people can expect the USDA to focus on, under the new Obama administration.

The top priorities he identified included promoting a sustainable, safe, sufficient and nutritious food supply for all Americans and people around the world. He further stated that combating childhood obesity, enhanced healthy nutrition, and supporting research in the health care debate would be a key focus. Vilsack also announced that the USDA will work on achieving Obama's target to eliminate child hunger by 2015.

Vilsack identified that another key area the USDA will be working on under the new administration would be research development in additional bio-fuels. The USDA will support the survival of the bio-fuel industry whilst promoting policies that will speed up the development of second and third generation feedstocks for these bio-fuels and in turn increase the potential to secure America's energy security and independence. He will lead the USDA in it's efforts to adopt management practices that promote and provide clean air, clean water and wildlife habitat. The USDA aim to support the profitability of farmers and ranchers, developing markets that reward them for carbon sequestration and eliminating greenhouse gases.

Vilsack concluded by stating that: "We have some serious challenges and many opportunities to pursue here at the USDA. I am looking forward to working with the dedicated employees of the USDA and all the departments to fulfill President Obama's desire of effecting change, promoting a stronger, more vibrant and more economically viable royal America".