MBN: THE MONTE BUBBLES NETWORK

 Feb 17

TREASURY DEPARTMENT NAMES  MINA NGUYEN AS  DEPUTY ASSISTANT SECRETARY
FOR BUSINESS  AFFAIRS AND PUBLIC LIAISON



   The Treasury Department announced that Mina Nguyen has been
appointed
   as Deputy Assistant Secretary for Business Affairs and Public
Liaison.

   In this position, Nguyen will manage the Treasury Department's
   outreach to the business, advocacy, and financial community. She
will
   advise Treasury Secretary Henry M. Paulson and the agency's
leadership
   on economic and international issues. She will solicit information,
   analysis, and opinions from public and private organizations
   representing business and consumer interests, and will communicate
   Treasury and the Bush administration views to these organizations.

   Immediately prior to this appointment, Nguyen served as Director of
   Government Affairs of the Republican National Committee, where she
was
   responsible for coordinating legislative plans and messaging with
the
   United States Congress and managing key activities with business and
   trade organizations.

   Previously, Nguyen served as the National Business and the Northeast
   Regional Coalitions Director for the Bush-Cheney 2004 campaign, and
   before that the Director of Public Liaison and Special Assistant to
   Labor Secretary Elaine L. Chao. She also worked as a Management
   Consultant in Accenture's Strategy practice.

   Nguyen earned her degree in business administration from University
of
   California, Berkley.

Feb 16

STATEMENT OF LICENSING POLICY FOR TWO  SPECIALLY  DESIGNATED ENTITIES
IN COLOMBIA



   The U.S. Department of the Treasury's Office of Foreign Assets
Control
   (OFAC) adopted a policy to consider the issuance of specific
licenses,
   on a case-by-case basis, authorizing U.S. suppliers to engage in
   certain transactions with two Colombian Government-controlled
entities
   previously named as Specially Designated Narcotics Traffickers
   (SDNTs).

     * G.L.G. S.A. (NIT # 800023807-8)

     * Ramal S.A. (NIT # 800142109-5)

   Both G.L.G. S.A. and Ramal S.A. manage certain aspects of the SDNT
   Casa Estrella department store, a Colombian department store chain
   located in Bogotá and Cali, Colombia.

   Designated by OFAC in 2005 as part of the North Valle drug cartel's
   financial network, the Government of Colombia took control of these
   companies in August 2006. By establishing this licensing policy,
OFAC
   is enabling these entities continue to operate legitimately under
the
   control of the Colombian government. OFAC continues to work closely
   with Colombian officials to monitor the situation.

   U.S. suppliers seeking a license to sell products to these companies
   should submit a written license application in accordance with 31
CFR
   § 501.801(b) to the Office of Foreign Assets Control, Licensing
   Division, U.S. Department of the Treasury, 1500 Pennsylvania Avenue,
   NW – Annex, Washington, DC 20220.

   In addition to the information required by 31 CFR § 501.801(b)(3),
the
   application must include a detailed description of the proposed
   transactions and a purchase request from either of the
aforementioned
   companies, signed by the appropriate Government of Colombia
official,
   that specifies the types of products to be purchased and the
   account(s) from which payment will be made. Licensees under the
policy
   will be required to submit detailed reports regarding the
transactions
   authorized by the license. Questions regarding this policy should be
   directed to OFAC's Licensing Division at (202) 622-2480.

   A copy of the licensing policy may be accessed here:

  
http://www.treasury.gov/offices/enforcement/ofac/programs/narco/sdn_lic_pol_021607.pdf

Feb 10

STATEMENT BY U.S. TREASURY SECRETARY HENRY M. PAULSON  FOLLOWING THE
MEETING OF THE  G7 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS ESSEN,
GERMANY



   We had a very good meeting with G-7 Finance Ministers and Central
Bank
   Governors today, hosted by Minister Steinbruck. I thank Minister
   Steinbruck for his gracious hospitality.

   We are enjoying one of the strongest and most prolonged global
   expansions in memory. The United States is doing its part. The U.S.
   economy grew strongly last year. Although the residential housing
   market has been cooling, growth is being supported by good
consumption
   on the back of solid job creation and wage growth. Net exports are
   also contributing. Looking ahead, the outlook is very encouraging.
   Housing activity appears to have stabilized; labor markets are firm;
   consumer confidence is rising; wages are rising; and inflation is
   easing. We are looking for solid growth in 2007, in line with
   potential of near 3%. The federal budget deficit was 1.9% of GDP
last
   fiscal year and is expected to come down further this year. The
   President's budget projects a balanced budget in 2012.

   All countries must also do their part to contribute to global
   adjustment. Europe's expansion is continuing and Japanese growth is
   expected to accelerate. But there is still ample scope in both areas
   to strengthen measures aimed at creating more robust domestic
demand.
   Greater flexibility in China's exchange regime is also needed as
part
   of China's rebalancing of its economy.

   Strengthening capital markets, both here in the United States and
   abroad, is one of my highest priorities. Competitive capital markets
   spur growth, create wealth and improve the quality of our lives. In
   emerging economies, local capital market development holds the very
   same promise. Already, emerging economies are making considerable
   progress, but there is much more to be done. At dinner last night,
we
   discussed local capital market development with our counterparts
from
   Brazil, China, India, Mexico, Russia and South Africa, and concrete
   actions that the G-7 and the International Financial Institutions
   might take to help strengthen these important trends.

   We also discussed trade with our emerging market colleagues. We
agreed
   that the Doha Round is one of the most significant things we can do
   for economic growth and opportunity for all people, especially those
   in the poorest countries of the world. We welcomed the new approach
of
   the trade ministers, focused on sensitivities and priorities, and
the
   renewed spirit of optimism and new energy behind discussions. My
   colleagues and I embraced the role we can play, in working with the
   trade ministers and in making the case for trade.

   Hedge funds were another topic of discussion. I am firmly convinced
   that hedge funds provide considerable benefits to financial markets
   and our economies, but they also can present potential challenges
and
   risks. It is in the U.S. interest to promote a thriving, competitive
   global hedge fund industry that facilitates price discovery and
   promotes liquidity in financial markets, while maintaining investor
   protection and promoting financial stability. Market discipline,
   focusing on the risk management of regulated counterparties, is the
   most effective way to address potential systemic risk concerns. In
the
   U.S., the President's Working Group on Financial Markets – comprised
   of the Treasury Secretary and the Chairmen of the Federal Reserve
   Board, the SEC and the CFTC – continues to assess developments in
   markets, disclosure and counterparty risk management.

   As leading shareholders of the international financial institutions,
   we discussed the need to reform the IMF to make it as modern as the
   world economy in which we live. I emphasized that the Fund
governance
   structure lags well behind today's global realities and I emphasized
   the need for boldness in reforming the Fund. In particular, I look
   forward to an agreement later this year on changes in the IMF's
quota
   formula to better capture members' true weights in the world economy
   and on steps to protect the voice of the poorer countries through an
   increase in basic votes. I urge other industrial countries to follow
   the U.S. lead and forgo an increase in their voting shares in the
next
   stage of reforms. I look forward to the Managing Director's
leadership
   on this issue, and also welcome the strong consensus in the group in
   support of the proposals to update the IMF's 30-year old rules on
   exchange rate surveillance.

   The G-7 reaffirmed its commitment today to the critical fight to
   protect the international financial system from illicit activity,
   including terrorist financing, the proliferation of weapons of mass
   destruction, and money laundering. I emphasized that, to be
effective,
   Finance Ministries must develop legal authorities and invest
resources
   to apply targeted economic and financial measures against a broad
   range of international threats. These efforts should include
national
   implementation of the economic sanctions called for in United
Nations
   Security Council Resolutions 1718 and 1737 against weapons of mass
   destruction proliferation support networks in North Korea and Iran.
We
   called upon the Financial Action Task Force to join these efforts
and
   address the threat of weapons of mass destruction proliferation
   finance and the vulnerabilities associated with jurisdictions that
   have failed to recognize international standards.

   Energy efficiency was also on the agenda and I emphasized the
   importance of improving energy security through increased use of
   alternative fuels, better fuel efficiency, and policies to
accelerate
   those trends. Finally, we touched on good financial governance in
   Africa. The international community has done a good job in
developing
   ways to measure and track public financial management and I called
for
   stronger linkages between international development assistance and
   individual country budget performance.

Feb 8

I am pleased to be here today to provide an overview of the President's budget for fiscal year 2008. As the Secretary of the Treasury, my top priority is keeping America's economy strong for our workers, our families, and our businesses. And the President's budget supports that goal.

We start from a position of strength. Our economy appears to be transitioning from a period of above-trend growth to a more sustainable level of about three percent growth. More than 7.4 million jobs have been created since August 2003. Our unemployment rate is low at 4.6 percent. And over the last 12 months, real wages have increased 1.7 percent. Economic growth is finding its way into workers' paychecks as a result of low inflation. That means family budgets are going further.

Strong economic growth also benefits the government's fiscal position. In the first quarter of fiscal year 2007, budget receipts totaled $574 billion, an increase of 8 percent over the same period in fiscal year 2006. As a result of increased revenue over the last two years, we have brought the federal budget deficit down to 1.8 percent of GDP.

The President has submitted a budget that reflects our strong economy and our nation's priorities: continued job creation and wage growth, vigorous prosecution of the war on terror, increased access to affordable health insurance, improved energy security, and a strong fiscal position from which we can address long-term challenges such as strengthening Social Security and Medicare for future generations.

This budget supports a strong economy by maintaining fiscal discipline. It maintains our current tax policy, which has helped our economy rebound from recession to its current robust health. With a steadily growing economy, tax revenues combined with fiscal discipline should bring the federal budget into balance in five years. In fact, we are submitting a budget that includes a surplus in 2012, which is achievable if we keep our economy growing. While no one has a crystal ball, our economic assumptions are close to the consensus of professional forecasters.

The President's budget addresses important domestic priorities. Health care is high on this list. Under current law, the tax subsidy for health insurance purchased through employers will average more than $300 billion a year for the next ten years. For that huge expenditure we get a system in which rising costs are a burden to families and businesses, and in which millions of people have no insurance at all.

The President's proposal would make health care more affordable and more accessible. It would give all taxpayers who buy health insurance, whether on their own or through their employer, and no matter the cost of the plan, the same standard tax deduction for health insurance – $15,000 for a family, or $7,500 for an individual. The President's proposal would help hold down health care costs by removing the current tax bias that encourages over-spending. Costs would become clearer, giving patients more power to make informed choices about their health care spending. The proposal would also jumpstart the individual insurance market, so consumers have more choices than are available today. Health care would become more consumer-driven, more affordable, and more accessible for millions of Americans.

Energy security is another concern of the American people, and it is a priority addressed in the President's budget. President Bush has put forth an ambitious goal of reducing America's projected gasoline consumption by 20 percent over the next 10 years. We can achieve this goal by dramatically increasing the supply and use of alternative fuels, and improving fuel-efficiency by reforming and increasing CAFE.

The expanded fuels standard will provide entrepreneurs and investors a guaranteed demand for alternative fuels, which will accelerate private investment and technological development. Reforming CAFE will allow us to increase the fuel economy of our automobiles as fast as technology allows. With a more diverse fuel supply and better fuel efficiency, we can make our economy less vulnerable to supply disruptions and confront climate change through technologies that reduce carbon dioxide emissions.

Finally, the President's budget, by emphasizing fiscal discipline and economic growth, lays the right foundation for dealing with entitlement reform – a challenge we all have a responsibility to address. Strengthening Social Security and Medicare is the most important step we can take to ensure the retirement security of our children and grandchildren, the long-term stability of the federal budget, and the continued growth of the American economy. I look forward to sitting down with Democrats and Republicans, without pre-conditions, and finding common ground on these critical issues.

Mr. Chairman, the President's budget priorities – a strong economy, national security, fiscal discipline, health care and energy innovation, and laying the groundwork for entitlement reform – are the right priorities for America and for the workers, businesses, and investors who drive our economy.

I am confident that, working together, we will keep our economy strong and chart a course for maintaining our global economic leadership in the years ahead.

Thank you for the opportunity to discuss this today – and I now welcome your questions.

Feb 5

PROPOSED TREASURY BUDGET FOR FY 2008



   The President's proposed budget for Treasury in fiscal year (FY)
2008 reflects the Department's dedication to promoting economic
   opportunity, strengthening national security, and exercising fiscal
   discipline.

   "The President's proposed Treasury funding for FY 2008 supports
   Treasury's priorities of promoting economic opportunity, combating
   threats to the national and economic security of the U.S., and
   striving for a more effective and efficient federal government,"
said treasury Secretary Henry M. Paulson. Speaking of the budget as a
   whole, Paulson said "If we can keep our economy growing by
continuing with economic policies that keep taxes low and drive job creation
and productivity, while restraining spending, we can achieve a balanced
   budget by 2012."

   The Treasury appropriations request for FY 2008 is $12.1 billion, a
   4.7 percent increase over the President's FY 2007 request of $11.6
   billion.

   Promoting Economic Opportunity

   The Treasury Department, through offices including Economic Policy,
   International Affairs, Tax Policy, and Domestic Finance, provides
   analysis, economic forecasting, and policy guidance on issues
ranging from tax policy to international financial crises.

   The FY 2008 budget provides additional resources to support Treasury
   in its role as Chair of the Committee on Foreign Investment in the
   United States (CFIUS), including administering the interagency CFIUS
   process.

   Treasury requests $28.6 million for the Community Development
   Financial Institutions (CDFI) Fund, $20.7 million above the FY 2007
   request. These funds will allow CDFI to continue its mission to
expand the capacity of financial institutions to provide credit, capital,
and financial services to underserved populations and communities in the
   United States.

   Strengthening National Security

   The Office of Terrorism and Financial Intelligence (TFI) plays an
   important role in helping to combat threats to the nation and the
   financial system of the United States. By drawing on our unique and
   powerful authorities, as well as financial intelligence, the
Treasury helps to safeguard the financial system against abuse by weapons
   proliferators, terrorists, narcotics traffickers, rogue regimes, and
   other bad actors. To support these efforts, Treasury requests a
23.8% increase for TFI relative to the FY 2007 request.

   Exercising Fiscal Discipline

   One of Secretary Paulson's highest priorities is keeping the U.S. on
   the path to achieve the President's goal of reducing budget deficits
   and balancing the budget by 2012. The Treasury Department is
committed to reducing the deficit by exercising fiscal discipline and ensuring
   the most efficient and effective use of taxpayer dollars while at
the same time boosting revenues through continued economic growth.

   Enforcing the Nation's Tax Laws Fairly and Efficiently

   As part of Treasury's comprehensive strategy to address the tax gap,
   the President's Budget requests $11.095 billion in appropriations
for the IRS to expand its enforcement activity and to continue
   improvements in taxpayer service.

   An in-depth press briefing on the revenue proposals, including
release of the "Blue Book" will be held at 1:00pm (EST) today in room 4121
of the Treasury Building. (Media without Treasury press credentials
   should contact Frances Anderson at (202) 622-2960, or
   frances.anderson@do.treas.gov with: name, Social Security number,
and date of birth.)
 

Feb 2

 STATEMENT OF SECRETARY PAULSON ON INTERNATIONAL AFFAIRS  UNDER
SECRETARY ADAMS 



   Washington, D.C. –

   Secretary Paulson made the following statement today on the
   resignation announcement of International Affairs Under Secretary
   Timothy D. Adams:

   I am deeply grateful to Tim Adams for his unsurpassed dedication and
   leadership in serving the President and the Treasury Department.

   Tim helped shape this Administration's economic policy from its
roots
   in Austin in the early stages of the 2000 campaign. For the last two
   years, Tim has traveled around the world representing the American
   people and strengthening our relationships with key economic
partners.
   The U.S. economy and our global economic ties are stronger thanks to
   his work.

   During his tenure at Treasury, Tim has advised three Secretaries,
and
   helped this Department navigate the economic shocks of a recession,
   corporate scandals, terrorist attacks, and the war on terror. He
   played a key role in developing and implementing policies that are
   bringing new opportunity and hope to people in the world's poorest
   countries, such as the Millennium Challenge Corporation and the
   historic debt relief initiative.

   In the critical U.S.-China economic relationship, Tim has worked to
   integrate China into the global system and put them on a path to
   increased currency flexibility. He sought to improve and strengthen
   the fabric of our international financial institutions by pushing
them
   to adapt and respond to today's challenges and opportunities.
   Particularly through his influential efforts to modernize the IMF,
he
   sought to ensure that our key multilateral institutions are prepared
   to play a beneficial role in our evolving global economy.

   Tim's good humor, keen intellect, and genuine regard for the men and
   women around him have made him a valued member of the Treasury
family.
   With great respect and appreciation, we bid Tim farewell and best
   wishes.

February 1

 PAULSON, IRS LAUNCH CAMPAIGN TO HELP  LOW INCOME TAXPAYERS TAKE
ADVANTAGE OF  TAX CREDIT, FREE TAX HELP



   Washington, DC - Treasury Secretary Henry M. Paulson, Treasurer Anna
   Escobedo Cabral and IRS Commissioner Mark W. Everson and the IRS'
   national partners launched Earned Income Tax Credit (EITC) Awareness
   Day at a Treasury Department press conference today. The event kicks
   off a nationwide campaign to inform taxpayers about this important
   credit for working families and the availability of free tax help.

   "The Earned Income Tax Credit helps Americans who work hard but need
   extra support to make ends meet – people who are often on the first
   step of the economic ladder, gaining the experience and skills to
land
   a better job and earn a higher income in the future," said Secretary
   Paulson.  "Our goal is not just to help people get by. Our goal is
to
   help people get ahead."

   More than 150 coalitions and partners across the nation marked EITC
   Awareness Day with a series of news conferences or news releases
   promoting this valuable tax credit for low-wage taxpayers. These
   organizations operate free tax preparation sites for low-income
   individuals, for seniors and for other eligible taxpayers.

   The Treasury officials were joined by partners Mayor Otis Johnson of
   Savannah, Georgia, Brian Gallagher, chief executive officer of
United
   Way of America, Elsie Meeks, executive director of First Nations
   Oweesta Corporation and Linda Eatmon-Jones, coordinator, DC CASH,
for
   the kickoff event at the Treasury Department.

   The Earned Income Tax Credit provides a refundable credit of up to
   $4,536 for eligible families. EITC claimants are eligible for free
tax
   preparation services provided at 12,000 volunteer sites nationwide
or
   they can also link to Free File through IRS.gov if they wish to
   prepare their own return.

   In addition to providing help claiming the EITC, these free tax
sites
   can help qualified taxpayers request their one-time telephone excise
   tax credit.

   "The IRS wants all eligible taxpayers to claim the EITC. Trained
   volunteers working at these free tax preparation sites can help
ensure
   that taxpayers receive all the deductions and credits they are due.
   And, if you want to do your own taxes, there is always Free File
which
   is available at IRS.gov," said Commissioner Everson.

   Many organizations offering free tax help also are encouraging
   taxpayers to save a little money or open a bank account. The IRS is
   helping in this effort by creating a new split-refund program that
   allows all taxpayers to divide their refund among up to three
   financial accounts, such as checking, savings and retirement.

   "Tax time is an ideal time to think about savings. For many
taxpayers,
   tax refunds are the largest checks they will receive throughout the
   year, and the new split-refund program gives individuals and
families
   the opportunity to build a nest egg for the future," said Treasurer
   Cabral.

   During tax year 2005, more than 22 million returns received over $41
   billion in EITC. However, the IRS also estimates that as many as 25
   percent of eligible taxpayers fail to claim this tax credit.

   Eligible people who fail to claim EITC include Spanish speakers,
   individuals who are self-employed or have service jobs in private
   households, childless taxpayers, rural residents, and recipients of
   other types of public assistance such as food stamps.

   The credit was created in 1975 in part to offset the burden of
Social
   Security taxes and to serve as a work incentive. The amount of the
   credit varies but it is generally determined by income and family
   size. Many states also have a local version of EITC which also can
   increase a taxpayer's refund.

   Tax preparers and taxpayers can find a wealth of information at
   IRS.gov. Both can use the EITC Assistant at www.irs.gov/eitc which
is
   an easy-to-use interactive tool to help determine if the taxpayer is
   qualified for EITC. This step-by-step online program helps answer
   questions about eligibility, filing status, qualifying children and
   credit amount. The EITC Assistant also is available in Spanish.

   For the 2006 tax year, the maximum credit is $4,536 for a family
with
   two or more children; $2,747 for a family with one child and $412 if
   the taxpayer does not reside with children.

   The maximum amount of earned income allowed is higher for tax year
   2006 than it was for 2005. Please see Fact Sheet 2007-13 for all
   eligibility requirements. Generally, a taxpayer may be able to take
   the credit for tax year 2006 if the taxpayer:

     * has more than one qualifying child and earns less than $36,348
       ($38,348 if married filing jointly),

     * has one qualifying child and earns less than $32,001 ($34,001 if
       married filing jointly), or

     * does not have a qualifying child and earns less than $12,120
       ($14,120 if married filing jointly).

   The maximum amount of investment income also increased to $2,800 for
   tax year 2006.

   The IRS reminds tax professionals that they must perform due
diligence
   when preparing an EITC tax return. To help, the IRS created an EITC
   Tax Preparer Electronic Toolkit which is available at
   www.eitcfortaxpreparers.com.

   In addition to on-line tools, the IRS also produces Publication 596,
   Earned Income Credit, which explains all the eligibility rules and
   also includes a worksheet to determine eligibility. The publication
is
   available in English and Spanish.

Jan 31

 ASSISTANT SECRETARY FOR FINANCIAL MARKETS ANTHONY W. RYAN   FEBRUARY
2007 QUARTERLY REFUNDING STATEMENT


   We are offering $38.0 billion of Treasury securities to refund
   approximately $35.1 billion of privately held securities maturing on
   February 15 and to raise approximately $2.9 billion.  The securities
   are:

     * A new 3-year note in the amount of $16.0 billion, maturing
       February 15, 2010;

     * A new 10-year note in the amount of $13.0 billion, maturing
       February 15, 2017;

     * A new 30-year bond in the amount of $9.0 billion, maturing
       February 15, 2037.

   These securities will be auctioned on a yield basis at 1:00 PM EST
on
   Tuesday, February 6; Wednesday, February 7; and Thursday, February
8,
   respectively.  All of these auctions will settle on Thursday,
February
   15.  The balance of our financing requirements will be met with
weekly
   bills, monthly 2-year and 5-year notes, the March 10-year note
   reopening and the April 5-year TIPS offering and the 10-year TIPS
   reopening.  Treasury also is likely to issue cash management bills
in
   March and April. Additional cash management bills may be required to
   manage volatility associated with tax refunds.

   New Treasury Auction System

   Treasury will soon begin testing its new auction system, which is
   designed to update existing technology, automate manual processes,
and
   continue to maintain the speed and reliability of the auction
process.
   We expect testing to continue until summer 2007.  Prior to
   implementation of the new system, Treasury will be asking dealers
and
   investors to participate in mock auctions and functionality testing.

   Debt Issuance Considerations

   In response to ongoing strength in receipts, Treasury has made
recent
   cuts in nominal and TIPS coupon issuance.  Continued strength in the
   fiscal outlook may necessitate additional adjustments to our
   marketable borrowing.  Treasury may need to reduce auction sizes
   further or institute changes in the frequency or composition of the
   current auction cycle.

   Accordingly, Treasury is considering options related to the 3-year
   note, including changing the frequency of issuance or eliminating
the
   issue. We will make any announcement regarding our decision on the
   3-year note at the May refunding.

   Regardless of our decision on the future of the 3-year note,
Treasury confirms that it will auction a 3-year note at the May 2007
quarterly refunding.

   Please send comments and suggestions on these subjects or others
   relating to Treasury debt management to
debt.management@do.treas.gov.

   The next quarterly refunding announcement will take place on
   Wednesday, May 2, 2007. 

Jan 29

 SECRETARY PAULSON HOLDS ROUNDTABLE DISCUSSION  ON STATE OF U.S. ECONOMY 


   Secretary Henry M. Paulson will hold a roundtable with a group of
   economists today at the Treasury Department to discuss the state of
   the U.S. economy. Meeting participants will include:

   Lewis Alexander was appointed chief economist of Citigroup and the head of the
   Economic and Market Analysis (EMA) department of Citigroup Global
   Markets in April 2005. Previously, he served as the global head for
   emerging markets within EMA. In that role, Alexander directed the
work of economics teams covering Latin America, Central and Eastern
Europe, the Middle East, Africa, and Asia (excluding Japan).

   Dick Berner is a managing director and the chief U.S. economist at Morgan
Stanley.
   Berner is responsible for directing the firm's forecasting and
   analysis of the U.S. economy and financial markets. Before joining
   Morgan Stanley in 1999, Berner was executive vice president and
chief economist at Mellon Bank Corporation and a member of Mellon Bank's
   Senior Management Committee.

   Gail Fosler is executive vice president and chief economist of The Conference
   Board. Fosler directs The Conference Board's worldwide Economics
   Research Program. Her unit now produces leading economic indicators
   for the United States, United Kingdom, Australia, France, Germany,
   Japan, Korea, Mexico and Spain. Fosler also directs The Conference
   Board's global operations in key European and Pan-Asian markets,
   including China and the Middle East.

   Jim Glassman is a managing director and senior economist with J.P. Morgan Chase &
   Co. He works closely with the firm's chief investment officer,
   commercial banking, and government relations groups. He publishes
   independent research on the principal forces shaping the economy and
   financial markets. Glassman is a frequent commentator on economic
   policy issues.

   Peter Hooper

   joined Deutsche Bank Securities in the fall of 1999, first as chief
   international economist. He shortly thereafter assumed
   responsibilities as chief U.S. economist and became chief economist in
   2006. Hooper frequently comments on U.S. and global economic and
   financial developments in the news media.

   James Meil

   is chief economist with Eaton Corporation, a diversified industrial
   manufacturer with 2006 sales of $12.4 billion. At Eaton Corporation,
   Meil is responsible for domestic and international forecasts of
   economic conditions. He is a contributor to the Blue Chip Economic
   Indicators, Consensus Economics, USA Today and The Wall Street
Journal economic surveys and the Federal Reserve Bank of Philadelphia's
   "Survey of Professional Forecasters."

   Mark Zandi is chief economist and co-founder of Moody's Economy.com, Inc.,
where he directs the company's research and consulting activities. Moody's
   Economy.com is an independent subsidiary of the Moody's Corporation
   and provides economic research and consulting services to
businesses,   governments and other institutions.

 TREASURY ANNOUNCES MARKET FINANCING ESTIMATES


   Treasury announced its current estimates of net marketable financing
   today for the January – March 2007 and April – June 2007 quarters:

     * Over the January – March 2007 quarter, the Treasury expects to
       borrow $141 billion of net marketable debt, assuming an
       end-of-March cash balance of $10 billion. The current estimate is
       $35 billion lower than announced in October 2006. Net receipts and
       outlays have improved by $17 billion. The remainder of the
       improvement comes from increased issuances of State and Local
       Government Series securities and adjustments in quarterly cash
       balances.

     * Over the April – June 2007 quarter, the Treasury expects to pay
       down $130 billion of net marketable debt, assuming an end-of-June
       cash balance of $30 billion.

   During the October – December 2006 quarter, Treasury borrowed $42
   billion of net marketable debt, finishing with a cash balance of $31
   billion at the end of December. In October 2006, Treasury announced
   net marketable borrowing of $63 billion, assuming an end-of-December
   cash balance of $30 billion. The decrease in borrowing was primarily
   the result of lower outlays and higher-than-expected net issuances of
   State and Local Government Series securities.

   Since 1997, the average absolute forecast error in net borrowing of
   marketable debt for the current quarter is $11 billion and the average
   absolute forecast error for the end-of-quarter cash balance is $9
   billion. Similarly, the average absolute forecast error for the
   following quarter is $34 billion and the average absolute forecast
   error for the end-of-quarter cash balance is $11 billion.

   Additional financing details relating to Treasury's Quarterly
   Refunding will be released at 9:00 A.M. on Wednesday, January 31.

 U.S. INTERNATIONAL RESERVE POSITION



http://www.treas.gov/press/releases/200712911342814233.htm

 Jan 26

TREASURY TARGETS AL QAIDA FACILITATORS IN SOUTH AFRICA



   The U.S. Department of the Treasury today moved to designate two
South
   African individuals, Farhad Ahmed Dockrat and Junaid Ismail Dockrat,
   and a related entity for financing and facilitating al Qaida,
pursuant
   to Executive Order 13224.  This action freezes any assets the
   designees have under U.S. jurisdiction and prohibits transactions
   between U.S. persons and the designees.

   "Today's action targets two family members that have supported al
   Qaida – one by providing funds to Al Akhtar Trust, a
   globally-recognized al Qaida fundraiser, and another by facilitating
   travel for individuals to train in al Qaida camps," said Adam
Szubin,
   Director of Treasury's Office of Foreign Assets Control (OFAC). 
"This
   designation freezes the Dockrats out of the U.S. financial system
and
   notifies the international community of the dangerous conduct in
which
   the Dockrats are engaged."

   Identifying Information

   Farhad Admed Dockrat
   AKAs: Farhaad Ahmed Dockrat
   Farhad Ahmad Dockrat
   Farhad Dockrat
   Ahmed Dockrat
   Farhaad Dockrat
   Farhad Docrate
   F. Dockrat
   Maulana Farhad Dockrat

   POB:
   Pretoria, South Africa

   DOB:
   28 February 1959

   Nationality:
   South African

   Address:
   386 Swanepoel Street, Erasmia, Pretoria, South Africa.

   Identification No.: 
   5902285162089/055 (South African)

   Passport:
   446333407 (South African, exp. 26 May 2014)

   Farhad Dockrat both finances and facilitates al Qaida.  In one
   example, Dockrat in 2001 provided over 400,000 South African Rand
   (approximately $62,900 US) to the Taliban ambassador to Pakistan to
be
   forwarded to al Akhtar Trust, an Afghanistan-based fundraiser for al
   Qaida.  Al Akhtar Trust was previously designated by the United
States
   under E.O. 13224 for its support to al Qaida.  Al Akhtar Trust is
also
   on the United Nations 1267 Committee's list of sanctioned
individuals
   and entities designated for providing support to al Qaida, Usama bin
   Ladin and the Taliban.

   Junaid Ismail Dockrat
   AKAs: Junaid Docrate
   Junaid Dockrat
   J.I. Dockrat
   Dr. Ahmed

   DOB:
   16 March 1971

   Address 1:  
   Johannesburg, South Africa

   Address 2:
   71 Fifth Avenue, Mayfair, South Africa 2108

   Address 3:
   P.O. Box 42928, Fordsburg, South Africa, 2033.

   Identification No.:
   7103165178083 (South African)

   Junaid Dockrat is an al Qaida financier, recruiter and facilitator.
   Junaid Dockrat in 2004 worked via phone and email with Al Qaida
   operations chief Hamza Rabi'a (now deceased) to coordinate the
travel
   of South Africans to Pakistan in order for them to train with al
   Qaida.  He is also responsible for raising US $120,000 that Rabi'a
   received in the spring of 2004.

   Sniper Africa
   AKAs: Sniper Outdoor CC  
   Sniper Outdoors CC  
   True Motives 1236 CC

   Address 1:
   40 Mint Road, Amoka Gardens, Fordsburg,
   Johannesburg, South Africa

   Address 2:
   P.O. Box 42928, Fordsburg, South Africa 2003

   Address 3:
   16 Gold Street, Carletonville, South Africa 2500

   Address 4:
   P.O. Box 28215, Kensington 2101 South Africa

   Website:
   www.sniperafrica.com

   Tax Number:  
   9113562152 (South African)

   Registration:
   200302847123 (South African)

   Sniper Dockrat is seventy percent (70%) owned by Junaid Ismail
   Dockrat.

Jan 23

ADMINISTRATION'S PROPOSAL FOR AFFORDABLE, ACCESSIBLE, AND FLEXIBLE
HEALTH COVERAGE



   In his State of the Union Address, President Bush will announce
   proposals to make health insurance available and affordable for more
   Americans. The new standard deduction for health insurance will make
   the tax system more progressive, with the benefits concentrated on
   low- and middle-income Americans, and will increase the number of
   people with health insurance.

   Taxes as a percent of income would fall for the first four quintiles
-
   the bottom 80 percent of the population.