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The House passes the $819 billion tax and spending bill. Every Republican in the House voted against the bill in the 244-188 vote. Most of the money to be spent of about $526 billion will be spent in 2009 and 2010, though some spending on student loan programs, clean water projects and housing assistance will carry over into future years. To help workers with the downturn $27 billion will go to continue unemployment insurance benefits till December 31, 2009. $9 billion will go to increase the current benefit from $300 to $325 per week. This is money that will be spent as workers lose jobs. The bill also lets former employees to get COBRA coverage, It funds 65% of individual's premiums for upto 12 months. And workers over 55 or with more than 10 years service will get to keep their COBRA coverage until they get a new job or get Medicare. A big departure is allowing those who are unemployed enroll in Medicaid, and Medicaid will temporarily expand to include millions of unemployed workers. See the link to Education spending for the $125 billion going into Education spending that will save the jobs of hundreds of thousands of teachers and create jobs for construction as schools are repaired and renovated....

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Feldstein says that for the 85% of the people who have healthcare the Obama proposals are not a good deal. The Obama proposals mean higher taxes in the long run to pay for the $1 trillion cost of healthcare for the uninsured group over 10 years. This lower income group has no coverage despite the $300 billion Medicaid program. Feldstein says there surely must be better and less costly ways of getting this lowincome group healthcare. Raising the top income tax rate to 45% from 35%- as a result of letting the Bush tax cuts expire and adding aproposed health surcharge on higher income individuals- would actually lower revenues for the government, as it would change behavior of high income individuals in ways that lower their taxable inome. The result is higher deficits and higher taxes when even without this large deficits are projected for the future. How to slow the rapid growth in healthcare spending? The Obama plan is to cut spending on Medicare. Feldstein sees the govenment's effort aimed at reducing the amount of medical services, as reduced spending comes from fewer services, not reduced payments to providers. Will this result in enough of acost reduction to make the system work. And if the cost reductions are too heavily weighted towards reduced services and not reduced payments to providers would this result in large cuts to services to affect the quality of healthcare for the 85% who are accustomed to a different pattern of healthcare, even though it is structured to allow cost escalation. Feldstein offers no solutions to the problems of cost escalation except to suggest that the Obama plan does not really tackle the cost escalation issues directly with providers, and instead burdens the national finances to an extraordinary degree. And the need for apause and reflection....

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The influence of lobbyist on members of Congress just as the Obama administration, having studied the failure of the Clinton submitted healthcare plan try a different strategy of letting Congress come up with a healtcare plan. $133 million was spent in the second quarter alone by healthcare industry lobby interests creating headaches for reform efforts and the Obama administration.

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A new anticorruption Lokpal bill is passed in parliament by the ruling Congress party. It does not include the Central Bureau of Investigation under its purview as proposed by Anna Hazare, leader of the protest movement for better governance. Some of the other provisions such as including the prime minister and lower level government officials under the Lokpal were included in the Lokpal bill. The ruling Congress party is trying to regain the initiative after corruption scandals in the government of prime minister, Manmohan Singh, and at the state government level. Bribes for local officials is so widespread in every part of life in India, that it has become an intolerable aspect of life in India for the average person.

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As a group Hispanics are reported to be hit hardest by this recession, harder than African Americans. In a Feb 9, Washington Post poll, both African Americans and Hispanics were optimistic about the future for the next generation, even with the dismal economic prospects, because things have improved greatly for this generation of black people and Hispanics compared to their parent's generation. And this progress is projected into the future. As a group the most pessimism was shown by white people. Whites say the Obama administration is doing very little for their families, and not doing enough for the middle class and working class Americans and small businesses. They were much more critical about the the administration's cozy relationship and doing "too much" for Wall Street financial institutions. By a 2 to 1 margin whites saw the Obama administration's economic program as harming the national economy.

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Lawyers Buchheit and and Gulati help Greece design a legal agreement that writes in a new collective action clause. The collective action clause ensures a 95% participation for the bond restructuring deal Greece is doing in March 2012 to cut its debt to sustainable levels. A similiar deal could be designed for Portugal says Mitu Gulati, a law professor at Duke University. Because Greece's bonds are written under Greek law, writing in a new collective action clause is a legal mechanism for achieving a meaningful debt reduction and bond restructuring deal- this is something Gulati and Buchheit figured out because of their expertise in this field. A joint paper by Buchheit and Gulati in 2010, first explored the way in which private bondholders of Greek bonds who reject a bond debt restructuring could be forced to accept the same losses as other investors who accepted the deal. They are now advisors to the government of Greece. In early 2011 there was serious discussion that the Brady Bonds debt restructuring for Latin American debt of Argentina, Mexico and Brazil of the 1980's, under which private investors traded in their old bonds for new bonds with longer duration at reduced interest rates and lower value- reflecting voluntary losses accepted by bondholders- was the approach needed for Greece, Portugal, Ireland and other eurozone countries. Then U.S. Treasury Secretary Nicholas Brady took the lead- in Landon Thomas Jr., NYT, 11/30/2010. Bondholders held out throughout this period, with Charles Dallara, one of the architects of the Brady bonds restructuring, hired by European banks to negotiate on their behalf. It was only when German Chancellor Merkel delivered an ultimatum by telling Dallara "this is the last offer," during a late night meeting on Oct. 27, 2011, at EU headquarters in Brussels, was an agreement reached on serious debt reduction- in Walker, Forelle, Meichtry, WSJ, 12/30/2011. The long delay meant a worsening crisis in Greece and the rest of the eurozone. ...

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Friedman points to the parallel between the democracy movements in Eastern Europe and the Arab World, and sees one difference. Whereas the countries in Eastern Europe were mostly homogenous except for Yugoslavia, the countries in the Arab world are homogenous only in Egypt, Tunisia and Morocco. Which makes the transition to democracy that much harder with sectarian interests, the Sunni-Shiite divide, tribal differences, and the lack of a transition period for building democratic institutions. This will require vision, leadership and perseverance from Arab peoples and from the outside world.

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Bruni on the view that Obama has squandered his advantages of oratorical transcendence, poetry, serious thoughtfulness, in the U.S. presidential election of 2012. He does not mention the lack of a serious plan to turn the economy around, high rate of joblessness and declining incomes that are a basic issue in the 2012 election, and how oratorical transcendence has little correlation with getting the right policies implemented. The Des Moines Register's support in 2008 put Obama on the road to the presidency in 2008 with a victory in the Iowa primary. In 2012 it gave its endorsement to Romney to give him a chance to correct the problems with the economy and to do this with a new effort to forge the bipartisan consensus missing in the Obama first term.

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This story by Emmarie Huetteman describes the effort of three Republican women in the U.S. Senate who had the courage to listen to the different voices in their home state and use their informed judgement in deciding how to vote on a Republican healthcare bill or Affordable Care Act repeal effort. Especially when they heard that it would hurt people in their state, the elderly, low income and other vulnerable people without offering alternatives. Even when this meant resisting pressure from fellow Republicans. The senators are Capito of West Virginia, Collins of Maine, and Murkowski of Alaska. This is particularly significant at a time when too much polarization has led to paralysis in coming up with informed discussion and good solutions to problems. It is also significant that senators from the midwestern states such as Iowa- Mr Grassley, and Kansas- Mr. Moran, also joined the effort to listen first to people back home in their districts before making up their mind. 

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Sweden's king Gustaf says the coronavirus policy of voluntary action has failed. Sweden now has 350,000 cases and deaths at 7800. This is more than all other Nordic countries combined and one of the highest rates per 100,000 of the population. Most are elderly who never had time to say goodbye. The makes Sweden a target of worldwide criticism for neglecting older people who never got a chance to say goodbye and died in chaotic conditions. It puts into spotlight the values of Swedish society of self centredness. Sweden, Netherlands and some Northern European countries also opposed the large stimulus planned by Merkel and Macron for the EU. showing lack of sensitivity for the plight of poorer countries in Europe such as Greece Portugal, Spain and Eastern Europe that were already hit by the eurozone financial crisis. The king said 2020 "was a terrible year" for Sweden. Now that the second wave has hit Germany hard, Sweden has acted to close schools, limit gatherings for Christmas and is following the restrictions practiced in the rest of Europe. To get some sense of how hard the second wave is hitting countries Germany recorded  952 deaths a day December 16, close to one third of that in the U.S. on Dec 15. ...

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Darren Woods of Exxon gives the view of many in business in the U.S. when he says of the Paris climate change accords of 2015- "We need a framework like that to address the threat of climate change." GE's CEO Immelt says a decision to leave the Paris accords "is not going to change one thing we do for energy efficiency, and I think all business is going to feel the same way." Most utilities including AEP see the political changes in government as coming and going, making it important to base their long term strategies on the economics and the general trends worldwide. Only support for the move to leave is coming from some coal companies and the steel industry, a small fraction of the overall industry in the U.S. Not mentioned here is the moves worldwide, by China motivated by health and pollution concerns to shift away from coal after disastrous pollution effects seen in China, and the decades old effort in Germany that has made the country self sufficient in renewable energy through use of solar and wind energy. India has set aggressive targets for renewables energy and is likely to join this long term trend as the economics shift in favor of wind and solar, especially when the health costs are counted in.   ...

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Senator Mitch McConnell, the Republican Majority leader in the U.S. Senate has come up with a new health care bill that is aimed at winning over reluctant Republican Senators. Two taxes on high income people on 3.8% investment income and a payroll tax of 0.9% on incomes over $200,000 for individuals and $250,000 for couples are retained in this version of the bill, which adds $231 billion over a decade. Some of this is used to offset rising premiums in the new bill, and provide additional funds. The deep cuts to Medicaid are retained and Senator Collins of Maine says she is opposed to the new bill because this will hurt people in rural areas of Maine, and does nothing to change this. Senator Rand Paul of Kentucky is also opposed to the bill. Opposition comes from moderate Senators opposed to deep cuts to Medicaid in Republican health care alternatives to president Obama's Affordable Care Act, and from conservative Senators opposed for other reasons.  Senator Graham of South Carolina and Bill Cassidy of Louisiana introduced their own version just minutes before Mitch McConnell brought up his revised bill. All Democratic Senators are opposed to the Republican bill and call the deep cuts to Medicaid disastrous for lower income people.  ...

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The US president DJT said today Feb. 13, 2025, as he introduced the new Health Secretary of the US-  "There's something wrong, and I think it's it's something that can be found out. In 2022, more than 40% of children had at least one chronic health condition, and today, nearly 80% of young adults do not qualify for military service in large part for health reasons. We're, ah, think of that 80%. Something is wrong and that's why immediately after Bobby is sworn in, I will be signing an Executive Order establishing the President's Commission To Make America Healthy Again. We have some great people on that commission chaired by our new secretary. This groundbreaking breaking commission will be charged with investigating what is causing The decades long increase in chronic illness, reporting its findings and delivering an action plan to the American people, and it's going to be a plan that people are really waiting to hear. Bobby, ah, I want to thank you. You've gone through a lot. It's taken great courage. You've been amazing actually. I'd call him and say, You're gonna be OK. And he said, I know, I really do. "Perhaps most importantly though, Bobby created a nationwide movement made up of millions and millions of mothers and fathers and young people and concerned citizens of every background who want to end this horrible chronic disease crisis that exists, exists in America. He's absolutely committed to getting dangerous chemicals out of our environment and out of our food supply and getting the American people the facts and the answers that we deserve after years in which our public health system has squandered the trust of our citizens, and they really have, they didn't, they don't trust us. They don't trust anybody, frankly they've gone through hell. There's no better person to lead our campaign of historic reforms and restore faith in American health care, and Bobby's going to do it. The United States spends more money in health than any other country on Earth, but we're growing sicker every year. We're not as healthy as countries that spend just a fraction of what we spend, so there's something wrong. He's going to figure it out. In recent decades we've seen staggering increases in cancer rates across all age demographics, including more than 40% increase in childhood cancer since 1975. Who can believe that? And an explosion in other chronic childhood illnesses not long ago, 1 in 10,000 people, children had autism. Now it's 1 in 36. Think of that 1 in 10,000, 1 in 10,000. Now it's 1 in 36. Who can believe that there's something wrong. There's something wrong, and I think it's it's something that can be found out. In 2022, more than 40% of children had at least one chronic health condition, and today, nearly 80% of young adults do not qualify for military service in large part for health reasons. We're, ah, think of that 80%. Something is wrong and that's why immediately after Bobby is sworn in, I will be signing an executive order establishing the president's commission to make America healthy again. We have some great people on that commission chaired by our new secretary. This groundbreaking breaking commission will be charged with investigating what is causing The decades long increase in chronic illness, reporting its findings and delivering an action plan to the American people, and it's going to be a plan that people are really waiting to hear. Bobby, ah, I want to thank you. You've gone through a lot. It's taken great courage. You've been amazing actually. I'd call him and say, You're gonna be OK. And he said, I know, I really do. He's really, ah, been supported amazingly by Cheryl and his family. And it was a very tough. It was a very nasty group of people that were after him, but he was tougher and he was smarter than they are, and that's why he's here today. There are very few people that could have withstood the, ah, the assault, but he was able to." ...

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A Yale scholar's view of the Obama presidency based on what he sees as a presidency struggling for compromise and consensus.