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US Senator Bernie Sanders, independent from Vermont, is known for his straightforward and unbiased positions.

His new legislative proposal is to break up big banks that are deemed "too big to fail." To quote Mr. Sanders: "if an institution is too big to fail, it is too big to exist. We should break them up so they are no longer in a position to bring down our entire economy."

The U.S. dollar continues to weaken, which has led to commodity price increases, including a higher-than-fundamentals-dictate oil price of about $80 per barrel, and U.S. Treasury Department professionals are working long-and-hard to continue to refinance and rollover U.S. debt to finance the U.S. government's operations -- all because the budget deficit is high.

What could take pressure off all of the above? Well, in addition to letting the 2001 Bush income tax cut expire in 2011 as expected, Congress could pass a modest tax increase above the expiration amounts -- for example, increasing the top two income tax brackets by 2-4 percentage points.

After haggling since September the US Senate finally passed an extension for unemployed persons and extended the credit for first time home buyers.

The situation for unemployed persons is dire. Here are just a few facts about their current situation:

• We have 15 million unemployed vying for just three million available jobs.
• 200,000 persons lost their benefits since September
• 7000 persons a day are losing their benefits.
• More than 1/3 of the unemployed have been out or work for at least six months.

The Federal Reserve Open Market Committee (FOMC) issued its statement almost exactly as expected. The language on interest rates is remaining low for an extended period of time remained largely unchanged, and the decision was unanimous.

As I have mentioned earlier, the Fed continues to avoid any potential language which could disrupt the financial markets. Any potentially controversial ideas seem to be reserved for speeches by the Chairman and other government officials.

New York Times (NYSE: NYT) columnist Paul Krugman argues quite persuasively that the major problem with the fiscal stimulus package was that it was too small, given the financial crisis and the large economic crater the accompanying, pronounced recession created.

Further, the fiscal stimulus' many benefits -- including substantial job retention in essential public services such as education -- are harder to see and not likely to translate into too much political gain for President Obama and Congressional Democrats, he said. That's consistent with a political science axiom -- often repeated by U.S. Rep. Barney Frank, D-Massachusetts -- that "Congress gets little credit or benefit for averting something." Indeed, retained jobs are hard to see, and the fact that a local public school system is is still operating with as many teachers is an accomplishment, but one that most American voters will take for granted, and not give Democrats credit for.

First off, what is smart grid technology? Smart grid technology allows two-way communication between a home or business and the utility company.

Then you are probably wondering why is there so much interest in smart grid technology now? The key reason is that our electrical transmission system is outmoded and overloaded. Our present system will be unable to handle the increasing demand for electricity for much longer. Take the electric car. If thousands of these cars are on the road next year, we will need the electrical delivery system to power them.

It all started when President Obama, under pressure from U.S. unions, slapped a 35% tariff on tire imports from China. This move angered Beijing to no end, and to the point that China is challenging the action with the World Trade Organization.

China, in retaliation, has said that it would launch an "antidumping" policy against U.S. car exports to China. U.S. car makers export only about 9,000 vehicles to China at present. However, China is now the leading auto maker in the world, and barring U.S. imports would hamper the U.S. auto export market.

Remember when the Federal Reserve and general public were blasting companies like AIG for going on retreats and holding conferences at luxury resorts? Well, on October 29, it was reported that the Fed has held its conferences at "exotic high-prices locales."

The Washington Post reported on October 28, that the San Francisco Fed hosted a conference at the "spectacular Bacara Resort and Spa" in Santa Barbara, where it paid $300 a night for the rooms -- an off-season price. Perhaps we should be praising the frugal nature of the Fed, as suites can run $2,000 during the peak season. Ben Bernanke attended this conference, which has drawn the ire of some. This conference was followed by a conference held by the Boston Fed at an Inn that charges up to $320 a night for regular rooms and nearly two grand a night for suites.

CNNMoney reports that after $150 billion in stimulus spending, tens of thousands of states, cities, and private companies have saved or created 650,000 jobs. At $230,769 per job, is that worth it?

The answer depends on whose side you're on. Those who want the president to fail are not thrilled, those who want to work and/or want him to succeed can feel some satisfaction.

Just call it a 'moderate public option.' Sort of. U.S. House Speaker Nancy Pelosi, D-California, Thursday unveiled a revised, $894 billion health care reform bill that would provide insurance to up to 36 million more Americans while cutting the budget deficit by $30 billion over 10 years.

The bill's key elements: subsidies offered to moderate-income Americans to buy insurance either from private carriers or a new, government-run program, an expansion of Medicaid to insure the poor, and an income tax increase on upper income Americans -- individuals earning more than $500,000 per year and couples earning more than $1 million.

The U.S. Congress is moving closer to passing a bill that would extend unemployment benefits in all states by 14 weeks.

As of late Wednesday, the bill had paused in the Senate, as members offered various amendments, some of which are designed to limit the allocation. If passed, the bill would then have to be reconciled with a House bill passed a month ago that extends benefits by 13 weeks in high-unemployment states.

Even though it faces an uphill battle in the Senate, look for U.S. Sen. Harry Reid's, D-Nevada, flexible public option to become part of a universal health care bill.

That's because Reid's 'flex-pub' fits the federalist system of governance
(local-state-federal) practiced by the United States in that it enables states to 'opt-out' of the public option, provided they have a state-level plan for universal care and/or are complying with other federal requirements for universal health care coverage.

And, when one thinks about it, politically and operationally, a flex-public option makes a great deal of sense.

Put this one under the the category of 'a half-loaf is better than none.'

Senate leaders are apparently poised to extend the $8,000 federal tax credit for first-time home buyers, Bloomberg News reported Monday.

However, the extension will not please all in the housing sector, as the Senate is working on a plan that would extend the credit, which expires November 30, for homes that close before April 1, 2010. The credit would then be reduced to $6,000, then $4,000, then $2,000 for homes that close in each successive quarter, until the end of 2010, at which time the credit program would end.

Can Congress balance the federal budget without a tax increase?

Indeed it is possible, but to do it Congress would have to undertake fiscal policy changes of Herculean proportions. Namely: radically changing Social Security's benefit for retirees, turn Medicaid over to the states, and implement other spending cuts.

Terrifying talking points out of the White House this week: President Obama called on bailed-out banks to lend more money to small businesses.

Speaking on his weekly radio address, Obama said that "These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs."