US budget deficit hits record $221bn
Mar 10, 2010 Make Money Online
The US government recorded a budget deficit of $221bn (£147.6bn) in February – the largest monthly deficit in its history.
The total deficit since the beginning of the fiscal year in October now stands at $651.6bn, the figures from the US treasury show.
That puts it on track to beat last year’s record annual budget deficit of $1.4tn.
Treasury Secretary Timothy Geithner called the deficit “unsustainable”.
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Tags: CBO, Congressional Budget Office, US budget, US treasury
Reid unveils broad Senate healthcare plan
Nov 19, 2009 Make Money Online
By John Whitesides and Donna Smith
U.S. Senate Democratic leader Harry Reid released a long-awaited healthcare reform plan on Wednesday that budget analysts said would extend coverage to tens of millions of the uninsured and reduce the deficit over 10 years.
After weeks of closed-door talks to combine two Senate measures, the publication of Reid’s 2,074-page bill quickly set off what promises to be a lengthy and bitter debate over President Barack Obama’s top domestic priority.
“Tonight begins the last leg of this journey,” Reid told reporters after meeting privately with Senate Democrats.
The Senate bill includes a government-run insurance option that lets states choose whether to participate and would halt industry practices like denying coverage to individuals with pre-existing conditions.
Obama applauded the Senate legislation, calling it “another critical milestone” in the push for healthcare reform, but Republicans condemned it as a costly government intrusion into the private healthcare sector. Read the rest of this entry »
Tags: Cadillac, CBO, Healthcare, Legislation, Senate, Senate Democrats, U.S. Senate Democratic
Senate health bill costs pegged at $829 billion
Oct 8, 2009 Make Money Online
By Donna Smith and John Whitesides
A U.S. Senate Finance Committee health plan would cost $829 billion and cut the budget deficit by $81 billion over 10 years, nonpartisan budget analysts said on Wednesday in a report that could bolster President Barack Obama’s healthcare reform drive.
The preliminary estimate from the Congressional Budget Office also said the bill would reduce the number of uninsured people in the United States by about 29 million by 2019.
The bill would meet Obama’s push for a healthcare plan that does not increase the budget deficit, according to the CBO. The estimate could ease the way for committee approval of the measure in the next week.
“This is another important step forward for health reform,” White House spokesman Reid Cherlin said. Read the rest of this entry »
Tags: CBO, Finance Committee, Health bill, Health plan, Healthcare, insurance, Insurance plan
