President Obama released his budget for the 2010 fiscal year. The document is a kind of roadmap for the President’s initiatives over the next several years, but he’s left lots of room to Congress to fill in details.
Anyway, I thought I’d put up some topics of potential interest to our readers:
- Early Childhood – The President will build on the investments made in the stimulus bill (e.g. doubling Early Head Start slots), as well as expand early childhood eduation by encouraging state and local investment, promote coordination among state, local, and federal partners, and improve information about program options and quality. Additionally, the budget proposes to create the Nurse Home Visitation program to “provide home visits by trained nurses to first-time low-income mothers” and expectant mothers. This program is based on the evidence-based Nurse Family Partnership model, of which Oklahoma’s Children First is a part. the Read more here.
- Quality Jobs – The Labor Department budget supports transitional jobs and career pathway programs that help low-income Americans attain quality jobs that pay a living wage and offer opportunities for advancement. New workforce programs will continue to focus on “green jobs” that prepare workers for jobs in renewable energy and energy efficiency.
- Savings and Economic Stability – Building on the work of behavioral economists that demonstrates automatic enrollment in 401(k) programs dramatically boosts participation, the President seeks to create a system in which every employer would automatically enroll every worker into a retirement or pension program. If the employer didn’t offer such a plan themselves, the money would be deposited into an IRA account instead. Such programs have been shown to boost participation rates to as high as 90%. See this article in Harvard Magazine for more on automatic enrollment and behavioral economics. The budget also boosts the Saver’s Credit by providing a 50% match on the first $1,000 of savings for families earning less than $65,000.
- Promise Neighborhoods – The President includes his campaign commitment to supporting “Promise Neighborhoods,” which would be modeled after Harlem Children’s Zone and seek to improve “life outcomes in high-poverty areas” through intensive services and innovative educational strategies.
- Social Innovation – Finally, in a move sure designed to forever win the hears of people like Diama, the President proposes a Social Innovation Fund, which would support new approaches to major challenges and leverage private and philanthropic funding. The Stanford Social Innovation Review recently published an article suggesting four federal policies to promote social innovation and entrepreneurship.
Did you see anything else of interest to you?
Obviously all these well-laid plans must still ultimately be funded by Congress, so keep watching.
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Image used under a Creative Commons license from flickr user Ma1974.