Word: trillions
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...Having sanctioned some $1.3 trillion in state- and central-bank aid to protect its country's troubled lenders, Britain's government has been mulling a bank tax for months. Prime Minister Gordon Brown's proposal last fall for an international "Tobin tax" - a levy on financial-market transactions ranging from foreign-currency trades to derivatives - received a chilly reception abroad. U.S. Treasury Secretary Timothy Geithner pooh-poohed it as "not something we're prepared to support." But Darling's call for a global bank tax could yield something closer to the U.S. vision. Such a levy might involve taxing banks...
...perversion of post-Cold War thinking, the $1 trillion push to build and fly the F-35 isn't driven by huge fleets of hot new warplanes being built by - well, new perpetual bogeyman China or former perpetual bogeyman Russia. Rather, the haste is being driven by Pentagon concerns over looming shortages of F-16 and F-18 jet fighters. And what's causing those shortages? Gates made it clear that the current planes must be retired in order to save money so the military can pay for the F-35. "The Air Force, in order to be able...
...concludes that the bill adds to the deficit over the next decade. We’ll believe that Democrats will cut Medicare payments when we see it. But even if they are serious, wouldn’t it make more sense to put these savings toward the $100 trillion unfunded liability in Medicare, Medicaid, and Social Security than to compound the budgetary problem by forcing more Americans on to Medicaid...
...pass along party lines a 2409-page bill, with an additional 153 pages of amendments, dictating from Washington how to operate 16 percent of the economy. According to the Congressional Budget Office, the bill calls for $938 billion in spending over the next decade. Where will the nearly $1 trillion in spending be funneled...
...subsidies from the legislation. Democrats claim that these changes, plus other minor provisions (like allowing children to remain on their parents’ insurance until age 26 and limiting the amount that smokers can be charged relative to non-smokers for insurance) will reduce the deficit. With nearly $1 trillion in new spending, how could this possibly be true...