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Americans always knew the Troubled Asset Relief Program (TARP) was going to be expensive. But the program's special inspector general, Neil Barofsky, thinks the U.S. government has bitten off more than it bargained for: on July 20, his office released a report estimating the $700 billion effort to shore up the nation's wobbly banking system could end up costing taxpayers as much as $23.7 trillion, due to estimates for programs offered by the FDIC, federal money for Fannie Mae, Freddie Mac and other institutions on top of $7.4 trillion in TARP and other Treasury aid. A spokesperson...
...TARP has evolved into a program of unprecedented scope, scale and complexity." - In prepared remarks at a hearing before the House Committee on Oversight and Government Reform. He estimated that U.S. taxpayers may eventually have to pay as much as $23.7 trillion for TARP. (Bloomberg.com, July...
Until the nation's governors staged a public revolt last weekend, few people were paying attention to one of the most far-reaching proposals being considered as part of overhauling the health-care system: a dramatic expansion and redefinition of the Medicaid program. Redefining who is eligible for Medicaid would be one of the major means by which lawmakers hope to achieve universal health coverage - which is one of the reasons that governors, whose budgets are already straining under the program's growing costs, are so wary of the idea. "It depends on what's being proposed," says Pennsylvania...
Meanwhile, the building that houses ACC's renewable-energy program is chockablock with bulletin boards touting jobs. A city ordinance that kicked in on June 1 requires presale energy audits for many commercial buildings, apartment complexes and single-family homes, creating the need for more trained inspectors. Also, one of the nation's largest solar-power plants is slated to be completed next year a mere 20 miles from Austin's downtown. (See 10 ways your job will change...
...report argues, to truly "transform our community colleges into engines of opportunity and prosperity," funding needs to be tied to performance in areas like degree completion - a model some states, including Indiana and Ohio, are already trying. The City University of New York has rigged up an experimental program that requires its community-college students to take intensive remedial courses if they aren't prepared to do college-level work. Begun in 2007 with the goal of getting at least half of the study's 1,000 participants to graduate from college in three years, it's showing initial signs...