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...part of the $3.5 trillion budget he proposed on Thursday, President Barack Obama is pushing for a down payment on universal health care, a reserve fund of $634 billion over 10 years paid for by higher taxes on the wealthiest Americans and savings from government programs like Medicare and Medicaid. By putting the funding on the table before the program has even been crafted, though, Obama is essentially putting the cart before the horse. Many health-care analysts hope to see more details of the President's plan during a White House health-care summit expected...
...group has held biweekly meetings that feel somewhat like a college class - albeit the most advanced seminar on health policy on the planet. There's a curriculum for each of the two-hour sessions; topics have ranged from benefits packages and employer mandates to tax treatment of health insurance, payment reform and prevention and wellness. Although they are about halfway through the agenda, participants say progress has already been made. The group agrees on broad principles like a focus on prevention, a commitment to cutting costs and universal coverage approached through the expansion of employer plans. But the group...
According to MarketWatch, the data show that "loans modified in the first three months of 2008 showed that 37% of borrowers were more than 30 days behind on their payment within three months, and 55% had re-defaulted within six months." This information opens a Pandora's Box of whether the Administration's plan to help homeowners bring down their monthly payments will make any difference to the real estate market. (Read "How to Fix the Housing Market...
...other reason that mortgage modifications are a challenging way to put a floor under housing prices is that this assumes that people who cannot afford a $500 a month mortgage payment can afford a payment of only $350. But in most cases this does not matter. As people turn away from debt and toward savings, a house is no longer a good mattress in which to store cash. Perhaps more to the point, with joblessness on the rise and many middle class household budgets built around two people working full-time, it does not take much bad luck to undermine...
...many of those condos and McMansions are now homes for little more than the ghosts of greed and stupidity. Federal Housing Administration loans, which have more lenient credit and down-payment requirements, can help some low-income buyers scoop up some of those units. "But most of those homes will never be available to the people we serve," insists Lloyd Boggio, a Miami developer and chairman of the Florida Coalition of Affordable Housing Providers. Some communities are using federal Neighborhood Stabilization Program funds to buy up foreclosed homes and convert them into rental units, but they say it's hardly...