Word: ratan
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...first shot, summoning Health and Human Services Secretary Donna Shalala, who signed a federal report stating that the Medicare system will go bust by 2002, and demanding timely congressional action. The Republicans plan to ask her what the Administration would do to prevent the collapse of the Medicare system. Ratan notes that slashing Medicare spending or raising taxes would seem to be the only two solutions. President Clinton plans to fire the next shot Wednesday at the White House Conference on Aging. Ratan says the President will attack the GOP for considering Medicare cuts...
...announce Thursday his plans for cutting an "unimaginable" $1 trillion from projected federal spending over the next seven years in a bid to fulfill the GOP promise to balance the budget by 2002. Roughly a third of those proposed cuts are expected to come from projected Medicare spending. Ratan says that both parties believe such cuts are necessary, and now Domenici is throwing down the gauntlet...
...Clinton Administration and Sen. Alfonse D'Amato (R-N.Y.) have put together somewhat similar proposals to reform banking regulations. Greenspan did not address the Clinton plan, but said he opposes D'Amato's proposal to let banks merge with commercial and industrial firms. TIME Washington correspondent Suneel Ratan is skeptical about prospects for any banking reforms this year. "They have rolled this rock up the hill every two years and nothing ever happens," says Ratan...
...rally began yesterday after Greenspan told Congress that the central bank might hold interest rates steady - or cut them - as the economy cools down, and continued today when he urged lawmakers to slash the budget deficit for the long-term health of the economy. TIME Washington correspondent Suneel Ratan says Greenspan, once reviled in some quarters of Capitol Hill for his series of rate hikes, is now earning plaudits from investors for having contained inflation without quashing the economy's robust 4 percent growth. "Investors are basically voting with their pockets and patting Greenspan on the back...
...have been a little tighter," Finance Minister Theo Waigel told reporters. The International Monetary Fund approved the $17.8 billion plan Wednesday, despite surly abstentions from Britain, Germany, Denmark, the Netherlands, Belgium and Switzerland. "They literally got the proposal an hour before it was announced," says TIME Washington correspondent Suneel Ratan. "It does appear that Clinton has broken a few eggs on the way to making this omelette." U.S. officials told Ratan that Treasury Secretary Robert Rubin is attempting to smooth ruffled feathers today at a meeting of G-7 finance ministers in Toronto...