Posts Tagged ‘gdp

25
Jun
14

Rise and Shine

On This Day: President Obama and First Lady Michelle Obama talk backstage before an event for the “United We Serve” service project with at Fort McNair in Washington DC, June 25, 2009 (Photo by Pete Souza)

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Today (All Times Eastern)

10:45: The President meets with HHS Secretary Burwell

11:45: Meets with Israeli President Shimon Peres, drops by a meeting with American Jewish leaders, Roosevelt Room

12:20: Lunch with Israeli President Peres

12:35: Josh Earnest briefs the press

1:25: The President meets with Israeli President Peres

2:55: Honors NASCAR Champion Jimmie Johnson, East Room

5:0: Meets with Senate Democrats, The State Floor

7:10: Delivers remarks to the League of Conservation Voters, Ronald Reagan Building

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The Week Ahead

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Spandan Chakrabati: Putin Completes Surrender To Obama: Syria Disarms, Russia Backing Off Ukraine

Yesterday, weapons inspectors confirmed that Syria handed over all declared chemical and biological weapons to an international inspection team for destruction, completing a major foreign policy coup for the Obama administration (or in the media version, a triumph for Vladimir Putin in a negotiation over Syria where Obama got everything and Putin got nothing) – disarming a middle eastern power of its weapons of mass destruction in the midst of a civil war without firing a single shot. ISIS – the Islamic militant group that is gaining ground in Iraq – many Americans will be surprised to learn stands for Islamic State in Iraq and Syria. Incidentally, these were the same rebels McCain was urging US arms in Syria. The same media couldn’t get enough the “weak black guy” narrative then. But now that his strategy of strength, fairness and diplomacy has born major fruit? Nary a peep.

Vladimir Putin has formally asked the upper house of the Russian parliament to rescind their March 1 authorization for Putin to attack Ukraine. President Obama spoke with Putin on this matter just yesterday. Putin is backing off, with his tail between his legs. This yet another crowning foreign policy achievement for this president. Ending two wars. Securing the world’s loose nukes. Killing Osama bin Laden. Bringing the last American POW home. Disarming a middle-eastern madman without firing so much as a water balloon. Dashing Putin’s hope of a new Soviet empire. If this were any other president – let me clarify, if this were any white president – the work of carving their face on Mount Rushmore would have already begun.

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Jonathan Weisman: Cochran Holds Off Tea Party Challenger in Mississippi

With an unusual assist from African-American voters and other Democrats who feared his opponent, Senator Thad Cochran on Tuesday beat back a spirited challenge from State Senator Chris McDaniel, triumphing in a Republican runoff and defeating the Tea Party in the state where the movement’s hopes were bright. “We all have a right to be proud of our state tonight,” Mr. Cochran said at his victory party in Jackson, Miss. “This is your victory.”

Mr. McDaniel, speaking in Hattiesburg, was angry, and he did not hesitate to say so. “There is something a bit strange, there is something a bit unusual about a Republican primary that’s decided by liberal Democrats,” he said. He accused Mr. Cochran of abandoning the conservative movement. “So much for principles,” he said. The 76-year-old senator ran a largely sleepy campaign until the primary on June 3, when he was edged out by Mr. McDaniel but won enough votes to keep his opponent from outright victory. Mr. Cochran, who is seeking his seventh term, used the past three weeks to turn out Democratic voters — especially African-Americans — to make up that deficit.

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BBC: Iraq PM Nouri Maliki Rejects Calls For Unity Government

Iraq’s Prime Minister Nouri Maliki has rejected calls for a national salvation government to help counter the offensive by jihadist-led Sunni rebels. Such calls represented a “coup against the constitution and an attempt to end the democratic experience”, he warned. The US has led appeals to the country’s political leaders to rise above sectarian and ethnic divisions. Government forces have been unable to recapture the territory seized by the rebels this month. Almost half of the 300 US military advisers assigned to help the Iraqi security forces have arrived and are to start work on Wednesday. Meanwhile, the crisis in Iraq is being discussed by Nato leaders meeting in Brussels. They have been joined by US Secretary of State John Kerry, who has just returned from a two-day visit to Baghdad and Irbil.

In his weekly televised address, Mr Maliki called on “all political forces to reconcile” in the face of a “fierce terrorist onslaught”. But the Shia prime minister gave no promise of greater representation in government for the minority Sunni Arab community, whose anger at what they say are his sectarian and authoritarian policies has been exploited by jihadist militants from the Islamic State in Iraq and the Levant (Isis). Mr Maliki said forming an emergency administration that included all religious and ethnic groups would go against the results of April’s parliamentary elections, which were won by his State of Law alliance. “The dangerous goals of forming a national salvation government are not hidden,” he said. “It is an attempt by those who are against the constitution to eliminate the young democratic process and steal the votes of the voters.”

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Ari Berman: Fifty Years After Freedom Summer, The Voting Rights Act Is Needed More Than Ever

Fifty years ago, Andrew Goodman, a 20-year-old anthropology major at Queens College, went down to Mississippi for Freedom Summer. His first stop was Philadelphia, Mississippi, where he and Mickey Schwerner, a 24-year-old graduate student in social work at Columbia University, and James Chaney, a 21-year-old volunteer with the Congress for Racial Equality from Meridian, Mississippi, were sent to investigate a church burning. Schwerner and Chaney had spoken at Mount Zion Methodist Church over Memorial Day, urging local blacks to register to vote. On June 21, 1964, the young civil rights activists were arrested by the Neshoba County police and then abducted by the Klan. Their bodies were found forty-four days later in an earthen dam. Goodman and Schwerner, both white, had been shot once. Chaney, who was African-American, had been mutilated beyond recognition. The fiftieth anniversary of Freedom Summer happens to coincide with the first anniversary of the Supreme Court’s decision in Shelby County v. Holder, where the Supreme Court’s conservative majority invalidated Section 4 of the VRA on June 25, 2013. As a result, states like Mississippi, with the worst history of voting discrimination, no longer have to clear their voting changes with the federal government.

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Since the 2010 election, twenty-two states have passed new voting restrictions, according to the Brennan Center. This includes requiring strict voter ID to cast a ballot, cutting early voting, making it harder to register to vote and rescinding voting rights for non-violent ex-felons. New restrictions will be in place for the first time in fifteen states in the 2014 election. All across the country, we’re seeing the most significant push to restrict voting rights since Reconstruction. Partisanship is a strong motivating factor for the voting changes—GOP legislatures or governors enacted eighteen of the twenty-two new restrictions. So is race. According to the Brennan Center: “Of the 11 states with the highest African-American turnout in 2008, 7 have new restrictions in place. Of the 12 states with the largest Hispanic population growth between 2000 and 2010, 9 passed laws making it harder to vote.”

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The wreckage of a Ukrainian helicopter downed near Sloviansk on Tuesday

BBC: West Warns Russia Of Sanctions Amid Ukraine Fighting

German Chancellor Angela Merkel said in Berlin that new sanctions could be applied if efforts to stabilise the situation were not speeded up. UK Foreign Secretary William Hague said inaction by Russia would mean a stronger case for sanctions. President Petro Poroshenko warned he might end the truce due to violations. However, his foreign minister, Pavlo Klimkin, told reporters at a Nato meeting in Brussels on Wednesday that Ukraine would “stick to our unilateral ceasefire”. The ceasefire began on Friday. On Tuesday, a Ukrainian military helicopter was shot down with the loss of nine lives. There was also fighting overnight near the Russian border in Luhansk region. The Ukrainian military accused the rebels on Wednesday of breaking the ceasefire 44 times since it began. A separatist leader said there had “been no ceasefire”.

The truce is part of Ukraine’s plan to end two months of fighting between government troops and pro-Russian insurgents who control key buildings in towns and cities across the east. More than 420 people have been killed in the region since mid-April, the UN estimates. Mrs Merkel welcomed the surprise decision by Russian President Vladimir Putin to cancel a parliamentary resolution authorising him to use Russian forces in Ukraine. The cancellation was ratified by Russia’s upper house of parliament on Wednesday. While Mrs Merkel said the decision was “psychologically important”, she told German parliament that Ukrainian soldiers continued to die. “Progress is slow… Diplomatic solutions are always preferable but if nothing else works, sanctions can be put back on the agenda,” she said.

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Annalyn Kurtz: 3 Reasons Not To Freak Out About -2.9% GDP

The U.S. economy shrank in the first quarter of the year, and new revisions by the Bureau of Economic Analysis show the decline was even deeper than reported. Gross domestic product — the broadest measure of economic growth — contracted at a 2.9% annual rate in January through March. That’s the weakest quarter for the U.S. economy since the first quarter of 2009, amid the Great Recession. But economists aren’t too worried, for three key reasons. 1) They blame the weather: Much of the downturn was due to a brutal winter. Blizzards slowed shipments both domestically and abroad and kept consumers away from shopping malls, car lots and open houses more than usual this winter.

2) It’s not a final number: Some economists take this GDP number with a grain of salt because it will be revised again next month when the Bureau of Economic Analysis makes historical revisions. 3) Last, but certainly not least, other data show the economy is improving. Hiring slowed in December, but it has since picked up again. In the last five months, the economy added 1.1 million jobs. Hiring at that level is consistent with an economy that is growing modestly around 2% to 3% a year — not an economy that is contracting.

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NYT: Iran Secretly Sending Drones And Supplies Into Iraq, U.S. Officials Say

Iran is flying unarmed surveillance drones over Iraq from an airfield in Baghdad and is secretly supplying Iraq with tons of military equipment, supplies and other assistance, American officials said. Tehran has also deployed a unit there to intercept communications, the officials said. The secret Iranian programs are part of a broader effort by Tehran to gather intelligence and help Prime Minister Nuri Kamal al-Maliki’s government in its struggle against Sunni militants from the Islamic State in Iraq and Syria.

Gen. Qassim Suleimani, the head of Iran’s paramilitary Quds Force, has paid at least two visits to Iraq to help Iraqi military advisers plot strategy. And Iran has deployed about a dozen other Quds Force officers to advise Iraqi commanders, and help mobilize more than 2,000 Iraqi Shiite militia members from the country’s south, American officials said. Iranian transport planes have also been making two daily flights of military equipment and supplies to Baghdad — 70 tons per flight — for Iraqi security forces.

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Nigel Duara: Judge: People On No-Fly List Must Have Due Process

When it comes to its no-fly list, the U.S. government has a choice to make. More than a dozen Muslims sued after learning they were likely on the list — something the government still won’t confirm — and they found their only recourse was to fill out an online appeal form. Then on Tuesday, a federal judge in Oregon ruled that the Department of Homeland Security must give people a better avenue to pursue a claim that they were wrongly put on the list. Now, the government can seek some way around U.S. District Judge Anna Brown’s order. Or, they can do what she asked. But Brown didn’t want to dictate the rules. In fact, federal prosecutors specifically told her in court, “We urge you not to take over the policymaking.”

Instead, Brown set out a handful of guidelines that were issued by the 9th U.S. Circuit Court of Appeals in an unrelated case. She said the government must tell people what unclassified information was used to put them on the list. And if the information’s classified, at least tell them the nature and extent of it. She said it shouldn’t leave people without an option to challenge their status or make blanket rulings that ignore the specifics of people’s lives. “The (challenge) process falls far short of satisfying the requirements of due process,” Brown wrote in her ruling Tuesday. U.S. Justice Department spokeswoman Dena Iverson said government attorneys were reviewing the decision.

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Philip Klein: Health Care Spending Actually Shrunk 1.4 Percent In First Quarter Of Obamacare, BEA Says

Health care spending actually shrunk 1.4 percent during the first quarter of the year, the Bureau of Economic Analysis now says, after previously saying it soared 9.1 percent — a massive revision that will shake up the debate over how President Obama’s health care law is affecting medical spending. To give an idea of the magnitude of the swing, the 9.1 percent growth rate would have been the fastest growth in health spending since 1980,

and now the BEA says it actually shrunk more than any quarter since the first quarter of 1982 — or 32 years. The revised data suggest medical spending slowed despite the expansion of coverage. So what explains the revision? The short and easy answer is that BEA gained access to more data.

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Sam Ro: This Is Precisely What Crushed GDP

Pretty much everyone was stunned to see Q1 GDP growth slashed to -2.9% from an earlier estimate of -1.0%.
The revision largely boils down to one thing: healthcare spending. “Two thirds of the revision is in consumption, cut to +1.0% from +3.1%,” said Pantheon Macroeconomics Ian Shepherdson. “Almost all of this huge hit is in the healthcare services component, cut to -1.4% from +9.1%.” According to the BEA, healthcare spending went from adding 1.01 percentage points to subtracting 0.16 from the headline GDP growth number. “So much for the BEA’s initial view that the start of Obamacare triggered a surge in spending on healthcare,” said Shepherdon.

Most economists and strategists are brushing this off. First of all, it reflects activity from Q1, which ended in March. Second, the bulk of the more recent data has been positive. “If GDP were truly so weak, we would not expect aggregate hours worked to climb 3.7% annualized through May, jobless claims to remain near cycle lows, consumer confidence to hit a cycle high, industrial production to climb 5.0% at an annual rate over the first five months of the year, core capital goods orders to be up 5.8%, ISM to be above 55, and vehicle sales to hit their strongest annualized selling pace for the year,” said Renaissance Macro’s Neil Dutta. “GDP is the outlier in these data points. I will roll my eyes and move on. Most of the data we just mentioned is consistent with underlying growth over 3.0%.”

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Steve LeVine: How A US Decision To Allow Oil Exports Could Change The World’s Energy Balance

The Obama Administration has taken a bold step toward loosening the grip of tense geopolitics on oil prices, reports the Wall Street Journal (paywall), giving the first permission in four decades for the export of unrefined American oil. The decision—not made public but announced in the form of private letters from the US Commerce Department to two oil companies, according to the paper–seems certain to cause a stir in global oil markets and perhaps send prices lower. Global oil prices have surged because of the political turmoil in the Middle East and Africa–the march of Islamic militants in Iraq, the stoppage of oil exports from Libya, and the broad turbulence in Nigeria.

The US decision allows two Texas companies—Pioneer Natural Resources and Enterprise Products Partners—to export a form of extremely light oil called condensate. The Journal’s report does not provide the volume. US condensate production in 2012, the last year provided by the US Energy Information Administration (EIA), was about 250,000 barrels a day. That is not much, relatively speaking, but the exports could have a dramatic impact if the Commerce Department provides a broader definition of what counts as condensate for export purposes.

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Your Laugh Of The Day

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On This Day

President Obama meets with members of Congress for a roundtable discussion about immigration reform, June 25, 2009 (Photo by Pete Souza)

President Obama with actress Reese Witherspoon in the Oval Office on June 25, 2009. The president was also joined by actors Paul Rudd and Jake Gyllenhaal; they are filming a movie in Washington, D.C. (Photo by Pete Souza)

President Obama cheers on a child attempting to dunk Press Secretarty Robert Gibbs at the Congressional Luau on the South Lawn of the White House, June 25, 2009 (Photo by Pete Souza)

President Obama shakes hands with attendees of the Congressional Luau on the South Lawn of the White House, June 25, 2009 (Photo by Pete Souza)

President Obama laughs as First Lady Michelle Obama does a little dance while making remarks during a United We Serve event at Fort McNair June 25, 2009

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President Obama talks with Chief of Staff Rahm Emanuel, before a meeting with African Outreach Leaders at the G8 Summit in Muskoka, Canada, June 25, 2010 (Photo by Pete Souza)

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President Obama greets guests before an event at Oyster River High School in Durham, N.H., June 25, 2012 (Photo by Pete Souza)

President Obama eats a hot fudge sundae as he talks with patrons at the UNH Dairy Bar on the University of New Hampshire campus in Durham, N.H., June 25, 2012 (Photo by Pete Souza)

President Obama waves to the audience after delivering remarks at Symphony Hall in Boston, Mass., June 25, 2012 (Photo by Pete Souza)

24
Jun
14

President Obama’s America

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Supply Chain 24/7: US Manufacturing Increases At Fastest Rate In 4 Years

June data pointed to a robust and accelerated improvement in the performance of the U.S. manufacturing sector. At 57.5 in June, up from 56.4, the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index™ (PMI™)1 indicated the strongest upturn in overall business conditions since May 2010. The latest rise in the headline PMI was driven by the fastest output and new orders growth for just over four years. Manufacturing output growth picked up for the third month running to its strongest since April 2010.

Moreover, the average pace of expansion in Q2 was the steepest for any quarter since the survey began in early-2007. Survey respondents generally attributed rising production volumes to improving domestic economic conditions, increased client confidence and a strong pipeline of outstanding work. In line with the trend for output, total new business volumes increased at a sharp and accelerated pace during June.

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20
Dec
13

Rise and Shine

On This Day: President Obama has lunch with House Speaker Nancy Pelosi in the Oval Office Private Dining Room, Dec. 20, 2010 (Photo by Pete Souza)

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Today (All Times Eastern):

2:0: President Obama holds a press conference

6:45: The first family departs the White House en route Andrews AFB

7:0: The first family departs Andrews AFB en route Honolulu

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Dylan Scott: Officials: People Returning To HealthCare.gov ‘In Droves’

Nearly three-fourths of those who have purchased health insurance on HealthCare.gov since early December were people returning to the site after visiting in October and November, according to senior administration officials. A survey on the federal website found that 73 percent of those who had completed enrollment in recent weeks said they had first come to the site in the previous two months, officials said. The Obama administration did not declare the site fully fixed until Dec. 1. The officials touted the figure as evidence that people were giving HealthCare.gov a second chance

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NPR: Tagging Along On A Wisconsin Man’s Odyssey To Buy Insurance

Enrollment is picking up in new health insurance marketplaces. But the 365,000 who’ve signed up as of November 30 is a fraction of just one high-visibility group – those whose previous insurance has been cancelled because it didn’t meet Affordable Care Act standards. They’re people like Doug Normington, a 58-year-old self-employed videographer in Madison, Wis., who has struggled to buy new insurance since late October. “Getting the cancellation letter made me feel kind of nervous because my insurance runs out on December 31,” Normington said when I first talk to him on November 1. “I go on the HealthCare.gov website and spin my wheels for a couple of days and it’s just not working.”

Since Normington has diabetes, maintaining coverage is especially important to him. “I feel all this relief. It’s great!” he says. But he still hasn’t actually enrolled. “So let me click the enroll button, see what happens.” He clicks the button and gets a screen asking him to “confirm your health plan selection.” He hits that button. “The wheel is spinning,” he says. “And ‘Congratulations, you have successfully completed all steps of your application. “This is great!” Normington says. “The ironic twist is that this insurance company is a company that turned me down a year ago because I was diabetic. They can’t now.”

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Jim Stuart’s New Blog: Why So Many Cannot See Obama

Why can’t people see this man? Nancy LeTourneau, aka Smartypants, has just completed a three-part blog series very ably addressing this question (Part I,  Part II, and Part III). She looks at three “lenses” that cloud the perception of many: The Racial Lens - Few of us are able to acknowledge our Racial Lens; and because we can’t, we endlessly generalize about the strengths and weaknesses of another ethnic group or race. We may even think we really like Blacks, or Asians, or Latinos, but as long as the ethnic character of the individual is what we see first, then we look through a Racial Lens. It’s not a Person we see first; it’s a Black….person. If we can admit to ourselves that we do wear, albeit unconsciously, a Racial Lens, we can then notice what generalizations spring unproven from this lens. The two Nancy points to are competence and luck. Obama is always demonstrating incompetence, or he’s about to. And when a success is achieved, it’s luck

What I would like to add to Nancy’s outstanding conversation is this: lenses are largely developmental. As we grow and develop, they change. Following the works and model of Ken Wilber, let me posit five developmental levels, each succeeding level representing a higher level of consciousness and awareness: Integral ( the self-transforming self; the mind sees patterns and thinks holistically; many perspectives can be internalized and held in awareness; paradox is seen as something to embrace, to engage – as a gateway to learning and truth. Obama is an integral leader. Large numbers of people at each of the prior levels cannot truly “see” him

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BBC: S Sudan On Precipice Of Civil War, Obama Warns

US President Barack Obama has warned that South Sudan is on the “precipice” of a civil war, after clashes in the capital Juba spread around the country. He said 45 military personnel had been deployed to South Sudan on Wednesday to protect American citizens and property. At least 500 people are believed to have died since last weekend, when President Salva Kiir accused his ex-deputy Riek Machar of a failed coup. An estimated 34,000 people have taken refuge at United Nations compounds.

Three Indian peacekeepers were killed on Thursday when a UN base sheltering refugees came under attack near South Sudan’s eastern border with Ethiopia. Sudan suffered a 22-year civil war that left more than a million people dead before the South became independent in 2011. The recent unrest has pitted gangs from the Nuer ethnic group of Mr Machar against Dinkas – the majority group to which Mr Kiir belongs.

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Washington Post: 93 Percent Of Hospital Executives Think Obamacare Will Make Health Care Better

Hospital executives think health reform is going to make the health care they deliver a whole lot better — and a bit cheaper: Fully 65 percent indicated that by 2020, they believe the healthcare system as a whole will be somewhat or significantly better than it is today. And when they were asked about their own institutions, the optimism was even more dramatic. Fully 93 percent predicted that the quality of care provided by their own health system would improve. This is probably related to efforts to diminish hospital acquired conditions, medication errors, and unnecessary re-admissions, as encouraged by financial penalties in the ACA. On cost control there was similar optimism: 91 percent forecasted improvements on metrics of cost within their own health system by 2020.

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Laurel Snyder: A Rant On Why You Need Decent Health Insurance

Let’s say you have a family of four, and you need to decide whether to pay for a dental plan, and the plan will cost an extra $150 a month.  Does that sound like a lot to you? The plan will cover basic checkups twice a year, or about 85 percent of the cost for them. It will cover 50 percent of major dental work.  So… $150 a month is $1800 a year.  That’s a lot, yeah. And you still have to pay for some stuff. Ugh. But as a parent I assume you plan to go for visits twice a year, right? Because you know that good dental care is something kids need to develop, right?  And modeling that care yourself is the best way to teach them? And you also know that preventative care of your teeth can help with things like heart disease? Now– all you have to do is have one procedure a year among the four of you that costs $600, and your dental coverage has paid for itself.  Right? One kid with a cracked tooth. One root canal.  Maybe two and a half small fillings on regular teeth.  Or an irrigation for gum issues.

But these numbers are actually looking pretty close. So maybe I’m wrong, and you’d do just as well to pay out of pocket, right? Especially in years when you don’t need any fillings? Maybe you’re better off skipping the dental insurance, after all… WRONG! Because the kicker is that you WOULD NOT. You would NOT go to the dentist twice a year if you had to pay $150 bucks just for the visit. You would NOT opt for the X-rays, if you had to pay extra for them. Maybe you’d take the kids in on schedule, because you feel bad not doing it, and the pediatrician might ask, but you’d TOTALLY skip your own visits.  You’d save the $150 and spend it on something else.  You would suffer a tooth ache, and hope it goes away. You would wait… and wait… and wait. You’d wait years. And then, one day, you would find yourself at the ER in the night, because of sudden intolerable pain.  And the doc at the ER would say, “Wow, this is serious. You’ve got a major infection in there. We need to take out these two teeth and you might have a malignancy in the bone.  I SURE HOPE YOU HAVE INSURANCE!” And in that moment you will cringe.  Because what you’re about to have done to your teeth–the surgery that could have been prevented with a $150 visit twice a year–it will  cost thousands and thousands of dollars.

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Chicago Tribune: Obama Orders Release Of Man Jailed For Life For Non-Violent Crime At 17

In 1994 when Reynolds Wintersmith, then still a young man, was sentenced to life in prison for dealing crack and cocaine as part of a large street conspiracy in Rockford, the federal judge charged with the task expressed regrets. “… There ought to be some latitude when you have a 17-year-old who gets involved,” U.S. District Judge Philip Reinhard said, according to a transcript. “There is not another alternative available. It gives me pause to think that that was the intent of Congress, to put somebody away for the rest of their life, but in any event, it’s there.”

Reinhard, under mandatory sentencing laws in place at the time, had no choice. On Thursday, President Obama commuted the sentences of Wintersmith and seven other men and women who all were sent to prison for lengthy sentences – six of them for life – under drug sentencing guidelines that are now understood to be draconian and unfair. Obama also pardoned 13 people. In a statement about the commutations, Obama concurred with Reinhard, calling the sentences a product of an “unfair system.”

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ABC: States Cite Surge In Obamacare Sign-Ups Ahead Of First Deadline

States running their own Obamacare insurance exchanges are reporting a significant surge in sign-ups just four days before the first major enrollment deadline. The increase has ranged from 30 percent to 40 percent in the past few weeks, according to state officials who briefed reporters Wednesday. Monday is the last day to sign up for a plan that will guarantee health coverage effective Jan. 1. California, which has one of the most successful programs, averaged 15,000 enrollments a day last week, up from an average 7,000 a day the week before, state officials said. In all of November, 80,000 Californians picked a plan; in the first week of December, 50,000 signed up. In Kentucky, enrollments are up 40 percent since Thanksgiving, straining the state’s exchange and forcing administrators to hire dozens of extra call-center workers and application processors.

“We are seeing about 3,000 people a day approved for Medicaid or a [qualified health plan],” Kentucky Health Benefit Exchange executive director Carrie Banahan said. “We started out a few weeks ago at about a thousand per day.” More than 92,000 people have gotten coverage so far. In New York, phones at marketplace call centers are ringing off the hook, averaging between 1,200 to 1,500 calls per hour, officials say.  Roughly 4,500 people are enrolling in coverage each day, state Department of Health counsel Lisa Sbrana said. In the past week alone, they’ve seen a 34 percent increase in people signing up. “We’re really happy,” Sbrana said. “We’re seeing a good mix of enrollees across age groups.” The uptick in demand has also been seen in Connecticut, where 47,000 people have enrolled through the exchange since October and they’re now adding an average 1,400 people a day.

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NYT: Revision Shows U.S. Growing At Fastest Rate Since 2011

The United States economy grew at a torrid 4.1 percent annual pace in the third quarter, the Commerce Department said Friday. That is the strongest growth in nearly two years, and only the third time the economy has expanded that quickly since 2006. The Commerce Department revised its estimate of third-quarter growth to 4.1 percent from 3.6 percent in this release. The refined estimate is based on “more complete source data,” the department said, showing personal consumption and investment in things like factories to be higher than previously thought.

Economists had expected the final estimate of growth to be unchanged from that earlier 3.6 percent. But data showed that consumers have stepped up their spending on health care, houses and cars as the strengthening recovery has led to a sharp drop in the unemployment rate and rising home values have improved household balance sheets. The Commerce Department bumped up its estimate of consumer spending, which accounts for more than two-thirds of economic activity, to a 2 percent rate from 1.4 percent, reflecting higher spending on goods and services.

The growth came from a broad range of sources: personal consumption, exports, investment in new factories and houses, state and local government spending and a rise in business inventories. Federal spending cuts and rising imports were a drag on growth, the department said. “The economy is finishing 2013 in a stronger place than where it began the year,” said Jason Furman, the chairman of the White House’s Council of Economic Advisers, in a statement this week. “This is especially notable given the general fiscal environment, including the onset of the sequester in March.”

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First Lady Michelle Obama collects toys from military children during a Toys for Tots event at the Joint Base Anacostia-Bolling Distribution Center in Washington, D.C., Dec. 19, 2013 (Photo by Chuck Kennedy)

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Two Years Ago Today: A Promise Kept

President Obama and VP Biden participate in a ceremony at Andrews Air Force Base, Md., Dec. 20, 2011, marking the return of the United States Forces-Iraq Colors and the end of the war in Iraq.

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01
Sep
11

‘the recovery act worked’

Jared Bernstein: …. Republicans constantly ply the talking point “discredited stimulus” in the interest of blocking any similar ideas … but the evidence shows the stimulus worked, but ended too soon, before the private sector was ready to walk on its own. The evidence shows we need to do more of these sorts of policy interventions.

…. The first graph shows the growth in real gross domestic product (GDP) from 2007 up until the last quarter. The next picture shows job growth over the same period in both the total job market and excluding government jobs, since the temporary influx of Census working in 2010 distorts the overall series for a few months.

…. they a) present remarkably compelling evidence against the “failed stimulus” case, and b) show that we need to do more of these types of interventions.

…. As the stimulus fades, the positive trends begin to falter: both GDP and job growth slow significantly, and unemployment stagnates at a highly elevated level.

The message of these three simple graphs is itself disarmingly simple: the stimulus worked. It prevented recession from becoming depression. It just ended too soon.

And that’s why the President’s new jobs agenda is so damn important.

Full post here




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