Word: seniorities
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Dates: during 1990-1999
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Trillion-dollar windfall or not, Bill Clinton is definitely still a somewhat parsimonious New Democrat. The President went public with his mostly pre-leaked Medicare reforms on Tuesday, a what's-not-to-like mix of senior-pleasing pork and future-inspired frugality. The headliner, a plan for prescription-drug coverage, would cost $118 billion over the next 10 years. But Clinton wants to add some copayments, nudge healthier people into cost-effective HMOs and increase competition among hospital-equipment contractors -? saving, by White House estimates, $44 billion over that same period. The less glamorous, below-the-fold story...
...they know this rally could be its own worst enemy? "My guess is that the Fed won?t do much thinking about what they?ll do down the road in terms of hikes -? they?ll wait until August, when they have two more months of data," says TIME senior economics reporter Bernard Baumohl. "And that data will depend a lot on what the markets do between Wednesday and then...
...Clearly this is a sport with one of the worst reputations around," says TIME sports senior editor Bill Saporito. "Anything that will move reform along is welcome." Unlike other major sports, which have national organizations and a unified set of standards, professional boxing functions in a world of individual contractors overseen by state boxing regulators with very uneven records. "Boxing is a segmented, cottage industry," says Saporito, and that leaves it wide open to abuses. The latest legislation, which is named after boxing great Muhammad Ali, has a very powerful Senate backer, Arizona Republican John McCain. But it faces tough...
...give companies a 90-day period to fix a computer glitch before a plaintiff could file suit. There would be a punitive-damages cap for small businesses, and companies would be held liable only for the portion of damage they cause. ?Both sides would get something,? says TIME senior writer Adam Cohen. Industry would get some protections, but, he says ?the bill would still leave a lot of room for people to go to court.? Some key Democrats, however, want the President to keep insisting that that room be kept as large as possible. Meanwhile the big question remains...
...both Republicans and Democrats to come to the Social Security and Medicare negotiating table -- the President said extra money could be used to fund some tax relief and boost some domestic and military spending. "The surplus is turning out to be a gift from the gods," says TIME business senior editor Bill Saporito. But the politicians still need to be cautious, he adds. "Sooner or later, we will run into a recession...