QUOTE OF THE DAY
WSJ: ObamaCare's Faux Federalism
Having failed to persuade 26 states that participating in ObamaCare is a good deal, the liberals behind the law are denouncing these dissident Governors as federalist hypocrites. A few critics on the right are chiming in and arguing that the 26 are inviting worse results once the feds swoop in.
So someone ought to say a word on behalf of the people who run state governments in the real world and have examined the health insurance "exchange" question in detail. They've seen enough to know that the choice to set up and run these insurance bureaucracies is not a choice at all.Having failed to persuade 26 states that participating in ObamaCare is a good deal, the liberals behind the law are denouncing these dissident Governors as federalist hypocrites. A few critics on the right are chiming in and arguing that the 26 are inviting worse results once the feds swoop in.
So someone ought to say a word on behalf of the people who run state governments in the real world and have examined the health insurance "exchange" question in detail. They've seen enough to know that the choice to set up and run these insurance bureaucracies is not a choice at all.
NBC Chicago: CTU Mocks Mayor in Satirical 'Fat Cats' Video
The Chicago Teachers Union released a 5 minute YouTube video on Monday titled "Stand Up to Fat Cats," in its fight against public school closures.
Crain's Chicago Business: Illinois public universities risk downgrades: Moody's
Moody's doesn't have a high opinion of Illinois' debt. Last week the credit rating agency signaled that the state's already low rating may soon be lowered again, based on a pessimistic outlook that Illinois can reduce its pension costs. Illinois already is Moody's lowest rated state, one notch below California.
Reuters: States scramble to cover Medicaid costs, some face overruns
Rising healthcare costs are pushing up the amounts states must spend on the Medicaid insurance program for the poor, sending some scrambling to find funds, according to a report released on Tuesday by the National Conference of State Legislatures.
The report found that spending on Medicaid and other public healthcare programs is currently over budget in 10 states, compared to six states at the same point last year. In contrast, only five states report that education, which has traditionally taken up most spending, is over budget.
Medicaid is operated by the 50 states with partial reimbursements from the federal government and it can take up to a third of a state's budget. In fiscal 2012, it consumed 24 percent of total state spending.
Bloomberg: AmEx’s Chenault Said to Be Discussed for Treasury Post
White House officials have approached American Express Co. (AXP) Chief Executive Officer Kenneth Chenault about joining President Barack Obama’s second-term administration, possibly as Treasury secretary, according to two people familiar with the matter.
White House Chief of Staff Jack Lew remains the leading contender for the Treasury job, the people said. Still, consideration of Chenault among Obama’s staff may indicate the president hasn’t made a final decision on a replacement for Treasury Secretary Timothy F. Geithner, who has said he plans to leave the post.
The Hill: Boehner moves to 'Plan B'
Speaker John Boehner (R-Ohio) told House Republicans on Tuesday he will move to a “Plan B” on the fiscal cliff by having the House vote on legislation to extend tax rates on annual income under $1 million.
The bill would allow tax rates on annual income above $1 million to rise from 35 percent to 39.6 percent, but make permanent lower rates on income below that threshold, Boehner's office said.
CNBC: White House rejects 'Plan B'
President Barack Obama and House Speaker John Boehner pressed ahead Tuesday on trying to avert the "fiscal cliff" after the White House rejected a narrow GOP plan on taxes.
The alternative plan, announced by Boehner, proposed extending the Bush tax cuts for those making up to $1 million while the two sides negotiated the other issues. But the White House quickly rejected it, saying it didn't go far enough and wouldn't pass the Senate anyway.
