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...Washington Isn't the Answer In Washington, the bulk of the response to job loss has been to drum up short-term demand. Last year's stimulus package kept the economy from spiraling further downward. Current proposals to extend unemployment benefits and send $100 billion to struggling local governments would have a similar effect - allowing consumers and cities to keep on spending...
...took a while, but on Thursday, House Democrats inched the health care boulder a bit further up the legislative hill after the nonpartisan Congressional Budget Office said the House's new health care proposal would slash $138 billion from the federal deficit by 2019, and extend health insurance to 32 million uninsured Americans. Earlier in the week, observers wondered why it was taking longer than expected for the key number cruncher to issue a verdict. Not only did the delay raise the question of whether all the compromises made to try to win broad enough support would make the bill...
...Delay implementation of a tax on expensive health-insurance plans from 2013 to 2018. This cut 10-year revenue from the tax from $149 billion to just $32 billion. Richard Trumka, president of the AFL-CIO, which opposed the tax out of concerns it would end up hitting many union members' health plans, said in a conference call with reporters Thursday that he was satisfied with the change. While stressing that the Senate bill with the House package is "not a perfect bill," Trumka said it will "end a reign of insurance company terror" and is "an opportunity to change...
...Part D prescription drug gap known as the "donut hole," which leaves beneficiaries without prescription drug coverage once their costs exceed $2,830 (in 2010), and doesn't kick back in until they spend $4,550 out of pocket. This provision, which would cost the federal government about $20 billion over 10 years, gradually closes the gap beginning in 2011, so Medicare Part D recipients will eventually pay no more than 25% co-insurance for name-brand drugs. In 2010, Medicare Part D enrollees who reach the gap will receive $250 rebate checks...
...this costs money, and with a federal-budget deficit of more than 6% forecast for this year, Russia does not have a lot to spare. Prime Minister Vladimir Putin has pledged an initial outlay of $12 billion from the budget to fund the construction projects, but that is not expected to be enough - and private investors have indicated that they may not be willing to make up the difference during the economic downturn. There are also signs that the initial cost estimates have been way off. Last July, the government said the total construction bill would run about $6.6 billion...