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...Democrats about reforming health care, which he indicated he wasn't quite buying. "You can't tell us how we're going to pay for this. You'll have to raise our taxes, when you said you wouldn't." Obama responded by outlining how he planned to fund the program: by eliminating medical-practice waste and insurance expenses, to cover two-thirds; and the remaining one-third by taxing those who make more than $250,000 a year. Noting that he is in the higher-income bracket, Obama said, "There's nothing wrong with me paying a little more...
Soros was aiming his donation at a part of President Barack Obama's stimulus package that hasn't garnered much attention until now: a 4-to-1 federal matching program designed to help states assist poor families. This $5 billion pot of cash was set aside as an emergency fund to supplement the 12-year-old Temporary Assistance for Needy Families (TANF) program, i.e., the one that Bill Clinton boasted in 1996 would end "welfare as we know...
TANF typically provides cash assistance to families with no jobs. But as the recession has worsened, several states have seen a rise in the number of people needing welfare and food stamps. The stimulus fund allows states to do several things with their share of the $5 billion pool as long as they - or private groups like Soros' - pony up 20% of the overall cost; the feds cover the remainder. States can 1) provide more cash payments to families, 2) subsidize additional jobs or 3) set up onetime, nonrepeating benefit programs. New York's Back to School initiative, which used...
Some municipalities are using the money to create jobs. In Perry County, Tennessee, for example, 300 private- and public-sector positions are being subsidized through the use of several million dollars' worth of the state's emergency-fund allotment. Some of these are just temporary, a short-term pick-me-up for the laid-off. Elsewhere, officials are eyeing the emergency fund for longer-term aid. Los Angeles, for example, has plans to kick off a yearlong employment program that will give subsidized jobs to up to 10,000 people. (See 10 perfect jobs for the recession - and after...
...York, advocates of the Back to School program responded to criticism that the plan does nothing to ensure that each child's $200 allotment will actually be spent on school supplies. "Parents will do right by their children," says Mimi Corcoran, director of the Special Fund for Poverty Alleviation at Soros' Open Society Institute. "We really didn't have a concern about parents' spending the money incorrectly. They know what's best for their children. No strings attached was important...