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WASHINGTON, D.C.: With the spending portion of the balanced budget deal finished business in both houses of Congress, the House is set to venture back onto politically uncertain ground tonight with a vote to slash taxes over the next five years by $85 billion and tie the knot on the plan to balance the budget for the first time in 30 years. Under the Republican-proposed measure, Congress would tighten its tax belt by offering American families a $500 per child tax credit, across-the-board reductions in capital gains and estate taxes and a $10,000 deduction for education...
...Democrats were crying foul after two Republican-backed provisions passed the House Ways and Means human resources subcommittee. One would cut benefits to disabled noncitizens, while the other would deny minimum wage and workplace protections to some welfare recipients working for the government or nonprofit organizations. The attempt to slash welfare benefits for noncitizens particularly peeved the Clinton Administration, leading OMB director Franklin Raines, to inform GOP leaders that they would have a fight on their hands if they fail to live up to the agreement...
MOSCOW: Railing at rampant military corruption, Boris Yeltsin primed himself for a political comeback, firing Defense Minister Igor Rodionov and the country's top military commander for failing to cut costs and slash Russia's overmanned armed forces. "I am not just unsatisfied. I am outraged," Yeltsin lectured the Defense Council in a nationally televised dressing down. Acknowledging that he has been somewhat "removed" from running the country recently (a state of affairs popularly linked to everything from alcoholism to senility), Yeltsin told the defense chiefs that he is now back in charge, a thinly veiled threat in a country...
...database business, Informix. The Menlo Park, Calif., company blindsided Oracle with a series of hip-sounding, well-marketed database programs it claimed were faster and better at scrounging through terrabytes of data--the grunt work where databases make their fortunes. Oracle stock took a quick dip, but Ellison's slash-and-burn sales force and espresso-fueled programmers quickly unplugged the challenge. "Informix did tons of things wrong," says Ellison. "They started writing checks instead of software." Last week Informix announced a $140 million quarterly loss and the ritual sacrifice of its cfo, who resigned. It was the kind...
...first year. But long-term costs plummet: The study says that if the goverment spent the same amount over a 15-year period, mandatory minimums would reduce national cocaine consumption by 13 kilograms, while conventional enforcement would cut it by 27 kilograms. Treatment of heavy users would slash usage by more than 100 kilograms. Stiff prison sentences don't do much in the long term to deter drug trafficking because a jailed supplier is often easily replaced. High-level drug lords, who would be deterred by such tough penalties, pay someone else to carry the drugs and take the risk...