"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK
Showing posts with label Homeland Security. Show all posts
Showing posts with label Homeland Security. Show all posts

Tuesday, May 3, 2011

Homeland Security's 2012 Budget Greater than GDP of 132 Countries

Over the decade, the department alone
has spent more than $424 billion.
Today it employs 216,000 people.

"Lawmakers largely served as a rubber
stamp for any budget that
had to do with security"

Grandpa:
One can only wonder if 1/2 of the Homeland Security
staff was proportionately spread throughout the
top 100 U.S. cities as police officers....
Let's talk about feeling safe...



By Charles Riley, staff reporter
May 2, 2011

NEW YORK (CNNMoney) -- In the decade between Sept. 11, 2001, and the death of Osama bin Laden on Sunday, the U.S. government has spent hundreds of billions of dollars with the aim of making Americans safer.

Agencies were created, expanded or given new missions. The government hired thousands of new employees to analyze intelligence, track terror financing and support the nation's rapidly expanding national security apparatus.

The spending started quickly. Within a week of the Sept. 11 attacks, lawmakers approved an emergency $40 billion to bolster national defenses and pursue international terrorists. (Who gets the bin Laden bounty?)

At the forefront of this broad expansion was the Department of Homeland Security. Twenty-two federal agencies were consolidated under the control of one director, with the singular mission of stopping terrorist attacks.

Over the decade, the department alone has spent more than $424 billion. Today it employs 216,000 people.

In its first full budget after the attacks, the Bush administration proposed a funding level of $37.7 billion for the new agency. By 2008, its funding would rise to $50.6 billion.

And the eye-popping totals don't even count money from other parts of the budget used for domestic security.

A total of $71.6 billion will be spent on homeland security in 2012, according to Obama administration projections.

For comparison, that is more spending than the 2009 gross domestic product of 132 countries, including Iraq, Croatia and Cuba.

Tax dollars buying less and less
Of course, while homeland security spending was blasting through the roof, the Pentagon -- busy prosecuting two wars -- was getting a huge boost of its own.

Since 2001, defense spending has just about doubled, rising to almost $700 billion in 2010. That is more than half of the discretionary budget and about 20% of the entire federal budget.

At home, Washington's policymakers built a giant new bureaucracy to focus on border security, dirty bombs, homegrown extremists and the threat of another al Qaeda strike.

And Congress wasn't shy about giving the Department of Homeland Security and other agencies exactly what they wanted.

"Nobody wanted to be perceived as sitting on their hands after September 11th," said Chris Hellman, senior policy analyst at the National Priorities Project, a group that studies the federal budget.

According to Travis Sharp, a research associate at the Center for a New American Security, it was "very rare" to see members of Congress question funding requests.

"Lawmakers largely served as a rubber stamp for any budget that had to do with security," Sharp said.

While lawmakers pumped trillions of dollars into war funding and domestic security, they made no effort to offset costs by raising taxes or cutting spending in other areas.

How Washington F@#$%! the budget
But lawmakers didn't just increase security spending. After a brief few years of budget surpluses at the end of the Clinton administration, lawmakers opened the new century by blowing a hole in the budget with major tax cuts and spending programs.

Congress approved and then expanded the Bush tax cuts, then moved on to establish new prescription drug benefits for seniors on Medicare. The decade closed with a flurry of bailouts and financial stimulus packages that cost trillions.

Today, the debt stands at more than $14 trillion, a number that is setting off alarm bells in Washington.

As a result, both security and military budgets might soon face cuts as lawmakers, and even President Obama, seem to have caught budget-cut fever.

Already, the DHS budget has leveled off, stabilizing around $45 billion annually.

"We've gotten to a point where we think throwing more money is not going to solve the problem," said Hellman. Still, binLaden's death a decade after Sept. 11 underscores the difficulty of counter-terrorism operations.

Plus, the United States has surely foiled plots along the way, even if they have gone unreported. That's an oft-cited argument for justifying homeland security spending.

"It's the loophole through which you drive trucks," Hellman said.





Thursday, October 21, 2010

Office Depot to Pay $1 million to settle SEC fraud charges...No Admissioin nor Denial of Allegations

The company's selective sharing of
information "gave an unfair advantage to
favored investors at the expense
of other investors"
(...this is how Wall Street Rolls...are you feeling confident?
Just write a check... no need to admit nor deny...)

By Marcy Gordon
Bloomberg/Business Week
10/21/10
Office Depot Inc. has agreed to pay $1 million to settle federal charges that it overstated earnings and shared information with a select group that it failed to include in public filings.

The Securities and Exchange Commission on Thursday announced the settlement with Office Depot, which neither admitted nor denied the allegations.

The company was accused of overstating earnings in mid-2006 through mid-2007. It was also accused of letting a select group of investors and analysts know that it wouldn't meet earnings estimates for the second quarter of 2007.

In addition to the company fine, chief executive Stephen Odland and former chief financial officer Patricia McKay agreed to pay civil penalties of $50,000 in connection with the charges for sharing information.

In the second quarter of 2007, Office Depot executives made a series of one-on-one calls to analysts, the SEC said in a civil lawsuit filed in federal court in Miami. The executives didn't directly say that Office Depot wouldn't meet analysts' expectations, but signaled that information by referring to recent public statements by companies with a similar profile about the impact of the economic slowdown on earnings, according to the SEC.

Analysts lowered their earnings estimates in response to the calls.

Odland and McKay neither admitted nor denied the allegations. The SEC said the executives encouraged the company to conduct the calls but didn't participate in them directly. Others in the company made the calls even after McKay was told that some analysts had concerns about the lack of public disclosure, the SEC said. Six days after the calls began, Office Depot made an SEC filing announcing that earnings would be reduced because of weakness in the economy. Before the filing was made, Office Depot's share price had fallen sharply.

The company's selective sharing of information "gave an unfair advantage to favored investors at the expense of other investors and, as today's action shows, is illegal," SEC Enforcement Director Robert Khuzami said in a statement.

Office Depot...Our Values

Integrity
We earn the trust and confidence of associates, customers, suppliers and shareholders by being open, honest and truthful in all that we do.

Innovation
With a culture of creativity and a thirst for intelligent risk-taking, we aspire to do what has never been done.

Inclusion
We approach all opportunities and challenges by respecting the diverse thoughts, beliefs, backgrounds, cultures and energies of all associates, customers and suppliers.

Customer Focus
We fuel our customers' dreams by anticipating and listening to their needs and passionately delivering on our promises. Failure is not an option, as we promise to "wow" on recovery.

Accountability
We are responsible for achieving and sustaining unprecedented results that create extraordinary value to our shareholders and stakeholders through personal commitment, sensible thrift, collaboration and shared leadership.












Sunday, September 12, 2010

Homeland Security looking at terrorist threat level color samples

The Hill.com
By Ben Geman - 09/12/10


The Obama administration is mulling changes to the color-coded system for gauging the terrorist threat level, Homeland Security Secretary Janet Napolitano said Sunday.

She said on CNN’s “State of the Union” that a set of recommendations is under interagency review, but said it remains uncertain whether officials will “tweak” or “totally amend” the system put in place under the Bush administration.

“What we realize is that the colors themselves weren’t exchanging or giving people information,” Napolitano said. “One of our chief goals is to make sure that the citizenry of the United States and communities know what is going on and know what to do if something were to change.”
Current Color Scheme