Word: costly
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Dates: during 2000-2009
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...Economists have long noted imperfections in how GDP - the market value of all goods and services produced in an economy - is calculated. For instance, unpaid work that might benefit society, like raising children, is not included in the calculations. Societal failures, however, often are: the cost of keeping 2 million people in prison boosts the U.S.'s GDP, as does fuel sales, despite the correlation with traffic congestion and pollution. Sustainability is also ignored - a heavily wooded country could see its GDP skyrocket if it turned over all its land to loggers. (See 10 ways your job will change...
...Instead, that task has fallen to small, independent think tanks and policy institutes. Their efforts to counter the claims of opponents of the bill have produced eye-opening reports. The most important of these, issued last week by the Institute for Policy Integrity, conducts a cost-benefit analysis of the Waxman-Markey program and finds, counter to objections, that the bill would have a net benefit of as much as $5.2 trillion. The report included a median projection for net benefits of $1.2 trillion and found that even more stringency could actually be more beneficial. Their estimations also ignore...
Most of the $36 million figure resulted from cost reductions in utilities, operations and maintenance, faculty expenses, and funds given to FAS units. Smith said that the school also raised $12 million in additional revenue culled from research grants, tuition revenue from the Harvard Extension School due to higher enrollment, and alumni donations...
...much does the bill cost, and will it add to the deficit? In a press release accompanying the release of the bill, Senate Finance Committee Chairman Max Baucus says the legislation would cost $856 billion over 10 years and would not increase the deficit. The nonpartisan Congressional Budget Office, which put the bill's total cost at a lower $774 billion, says the bill would actually reduce the deficit by $49 billion between 2010 and 2019. (Watch an abridged version of President Obama's health-care speech before Congress...
...cost was a bailout that placed trillions of taxpayer dollars at risk. It was expensive, it was messy, it was unfair. It struck many people as downright un-American. But it worked. "I've abandoned free-market principles to save the free-market system," is how President George W. Bush described it last December...