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...there are reasons to question how effective and efficient such a program would be. First of all, it is misleading to imply that companies aren't hiring because workers aren't cheap enough. As Dale Mortensen, a professor of economics at Northwestern University, points out, workers are a real bargain right now. Unit labor costs - how much a company has to pay people to produce a unit of whatever it is that the company makes - have been flat or falling for all of 2009. Between the second and third quarters, labor costs dropped at an annual rate...

Author: /time Magazine | Title: Can the Federal Government Really Create Jobs? | 12/8/2009 | See Source »

...matter where you type it: just have the Facebook page open and active. The result? Lens flares - those groovy circles that appear when pointing a camera into the sun - appear on your page with every click of the mouse. Useful? Not in the slightest. But they're easy enough to get rid of - logout and they're gone...

Author: /time Magazine | Title: Facebook's Secret Code | 12/8/2009 | See Source »

...dose - rather than two, as researchers had originally expected - the vaccine supply from U.S. manufacturers still couldn't keep pace with demand in the first weeks of October, when the first million or so shots rolled off production lines. In many places around the country, there was not enough vaccine even to cover members of priority groups targeted by the government, including young children, pregnant women, health care workers, parents of infants younger than 6 months and those with underlying conditions such as asthma or diabetes. And yet according to the latest polls, 55% of Americans said they would...

Author: /time Magazine | Title: TIME's Top 10 Medical Breakthroughs of 2009 | 12/8/2009 | See Source »

Home care is much cheaper than nursing-home care, which averages about $200 per day. Yet millions of Americans who need long-term care but can't afford to pay for it have to "spend down" all their assets, become poor enough to qualify for Medicaid and then move to nursing homes, which the program covers. (Medicaid coverage for home health services varies from state to state.) This does not come cheap for the government, which pays about 60% of all long-term-care costs in the U.S.; only about 5% of Americans currently have private long-term-care insurance...

Author: /time Magazine | Title: Should Long-Term-Care Insurance Be Part of Health Reform? | 12/8/2009 | See Source »

...CLASS Act doesn't include sufficient funding to market the program, meaning participation will be low - the CBO says 5% of the population would sign up, the CMS actuary says 2.5%, and AAA says 6%. Such low participation would not allow risk to be spread out enough to keep premiums affordable; in that case, the program could end up in an "insurance death spiral," in which premiums are so high, only those who know they'll need coverage sign up, driving up premiums even further until they are unaffordable for everyone. And the premiums, which the CMS actuary has predicted...

Author: /time Magazine | Title: Should Long-Term-Care Insurance Be Part of Health Reform? | 12/8/2009 | See Source »

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