Editor’s Note: The following is a summary of February 1 testimony by Congressional Budget Office Director Douglas Elmendorf; a link to the full testimony can be found here.

(Washington, D.C.) The federal budget deficit—although starting to shrink—remains very large by historical standards. How much and how quickly the deficit declines will depend in part on how well the economy does over the next few years. Probably more critical, though, will be the fiscal policy choices made by lawmakers as they face the substantial changes to tax and spending policies that are slated to take effect within the next year under current law. The pace of the economic recovery has been slow since the recession ended in June 2009, and CBO expects that, under current laws governing taxes and spending, the economy will continue to grow at a sluggish pace over the next two years. That pace of growth partly reflects the dampening effect on economic activity from the higher tax rates and curbs on spending scheduled to occur this year and especially next. Although CBO projects that growth will pick up after 2013, the agency expects that the economy’s output will remain below its potential until 2018 and that the unemployment rate will remain above 7 percent until 2015. (more…)

by Karen Mills
SBA Administrator

(Washington, D.C.) Today marks the one-year anniversary of Startup America, the initiative launched by the White House to celebrate, inspire, and accelerate high-growth entrepreneurship across America. Here at SBA, we’ve spent the year helping entrepreneurs grow their businesses and create jobs across the country – creating blueprint for an economy built to last.  From launching mentoring programs to a record year of helping entrepreneurs and small business owners access capital through loan programs and Small Business Investment Company program, SBA has worked with the White House and other federal agencies to build a more supportive environment for entrepreneurship and innovation. (more…)

(Research Triangle Park, N.C.) The North Carolina Research and Education Network (NCREN) is the digital highway allowing many North Carolinians to thrive in today’s globally interconnected society. The current expansion of connectivity and services on NCREN will benefit almost every citizen in every community throughout the entire state. Two federal Broadband Technology Opportunities Program (BTOP) grants totalling $104 million awarded in 2010 represent the largest known single investments in “middle-mile” broadband infrastructure in North Carolina history. The BTOP grants are funded through the American Recovery and Reinvestment Act, passed by Congress on Feb. 13, 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act had three immediate goals: create new jobs and save existing ones; spur economic activity and invest in long-term growth; and foster unprecedented levels of accountability and transparency in government spending. The Congressional Budget Office estimates that the long-term effects of the act are dire, with results that include a long-term 0.2 percent reduction in the GDP, an increase in budget deficits by about $825 billion through 2019, and “no long-term effects on unemployment.” MCNC officials have stated the design, construction, and operation of the broadband network being built via these federal taxpayer dollars could create more than 1,000 engineering/construction jobs. (more…)

[Editor's Note: The following is a statement issued today by Governor Bev Perdue on her plans to seek re-election.]

(Raleigh, N.C.) Like the rest of the nation, North Carolina has been facing difficult economic times — demanding many difficult decisions.  I have had to make painful budget cuts in important areas of government.  But I believe I have approached this challenge in a way that is consistent with my values and the values that have made our state a wonderful place to live and raise a family.  I have spent my tenure in office - and, in fact, my adult lifetime - fighting for things that I care deeply about.  And as anyone who knows me will tell you, I do not back down from tough fights. (more…)

[The content that follows is an open letter from White House officials to participants in the Obama administration's small business outreach efforts.]
(Washington, D.C.) Every year-end provides an opportunity to reflect on what we have learned, what we have accomplished and what lies ahead. It is no different here at the White House. Now that the President has signed an agreement that will allow every working American to keep his or her tax cut – about $1,000 for the average family – and continue vital unemployment insurance for millions of Americans who are looking for work, we are taking stock of this year and looking forward to the New Year. (We’re also finishing our holiday shopping.) (more…)

(Raleigh, N.C.) More than 900 educators, researchers, government officials, and business leaders from North Carolina and the nation participated throughout the week at NCREN Community Day 2011, which was held in conjunction with the 2011 Internet2 Fall Member Meeting at the Raleigh Convention Center. (more…)

(Research Triangle Park, N.C.) MCNC, the private, not-for-profit operator of the North Carolina Research and Education Network (NCREN), announced today that it has selected ECC Technologies to oversee commercial broadband opportunities included in the second phase of the Golden LEAF Rural Broadband Initiative (GLRBI) awarded through the U.S. Department of Commerce’s Broadband Technology Opportunities Program (BTOP). With corporate offices in Penfield, N.Y., ECC Technologies specializes in project planning, design, engineering, implementation, and support services for educational, corporate, and community environments.  (more…)

(Washington, D.C.) North Carolina residents and businesses affected by severe storms and flooding on Aug. 5 can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Karen G. Mills announced today. (more…)

(Kannapolis, N.C.) MCNC will host a Statewide Virtual Groundbreaking on Friday to celebrate the start of construction on the second round of the Golden LEAF Rural Broadband Initiative (GLRBI) that will greatly expand the reach and capacity of MCNC’s North Carolina Research and Education Network (NCREN). (more…)

(Charlotte, N.C.) The North Carolina Department of Commerce Division of Workforce Development has approved incumbent worker training grants, totaling $114,344 for six local businesses.  The grant applications were submitted by the Charlotte Mecklenburg Workforce Development Board and are designed to enhance the skills of existing employees at local businesses. (more…)

(Atlanta, Ga.) The U.S. Small Business Administration is reminding businesses in North Carolina that working capital loans are still available to small businesses, small agricultural cooperatives and most private non-profit organizations that were affected by severe storms and tornado that occurred on Oct. 26, 2010. (more…)

(Raleigh, N.C. and Dallas, Texas) Tyler Technologies, Inc. (NYSE: TYL) has signed a contract with the North Carolina State Ports Authority (NCSPA) for Tyler’s Munis® enterprise resource planning (ERP) solution. The agreement includes related professional services, maintenance and support. The NCSPA selected Tyler’s Munis ERP solution to aid productivity, increase efficiencies and provide enhanced data visibility. The Authority will invest in a wide range of Munis applications, including financial management, human capital management and content management. (more…)