Word: aids
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...Under the government's aid program for Citi the government will share losses on over $300 billion in assets, with a term on the guarantees up to ten yeas. Citi will immediately separate its banking unit from its brokerage and money management units. There is simply too much risk in the investment operations to keep them married to a commercial bank...
...would be smarter still to throw all that money at things we need to do anyway, which is the goal of Obama's upcoming American Recovery and Reinvestment Plan. It will include a mix of tax cuts, aid to beleaguered state and local governments, and spending to address needs ranging from food stamps to computerized health records to bridge repairs to broadband networks to energy-efficiency retrofits, all designed to save or create 3 million to 4 million jobs by the end of 2010. Obama has said speed is his top priority because the faster Washington injects cash into...
...jobs. Then again, transit projects like high-speed rail lines and subway stations tend to take more time to build than roads or repairs. And while a recent study calculated that the average dollar spent on infrastructure ricochets into $1.59 worth of short-term growth - a bit better than aid to states or broad-based tax cuts and a lot better than tax cuts for businesses or investors - increasing food-stamp or unemployment benefits packs even more bang for the buck...
...first element will be giving money to state and local governments to offset their shortfalls and prevent them from raising taxes, slashing services and downsizing public employees. Just about every economist wants this aid approved yesterday because just as public dollars can have a big multiplier effect, public cuts that are imminent in New York, California and Florida can have a negative multiplier effect. "You can't let the safety net unravel just when people need it most," says Len Burman, director of the nonpartisan Tax Policy Center. "A lot of states have been terribly irresponsible, but this probably...
Obama's team has proposed increasing the federal share of Medicaid in exchange for assurances that states won't knock more families off their rolls. And his advisers hope to direct the aid where it's needed most - a tough sell in the Senate, where every state has equal power. But Obama should drive a hard bargain. He could provide more aid to states that promote energy efficiency through building codes and incentives for utilities. He could funnel aid directly to transit agencies and metropolitan governments, which tend to be more progressive than states. He could take Senate minority leader...