Americans answer D.C.’s siren song of employment, strong economy






WASHINGTON (Reuters) – Thirteen years ago the band The Magnetic Fields crooned that the U.S. capital city is “the greatest place to be,” in the indie love song “Washington, D.C.”


Recently, a growing number of Americans are singing along as they move to the District in search of jobs, economic opportunity and cultural attractions.






In a study on migration provided exclusively to Reuters that is set to be released next month, United Van Lines found the District of Columbia tops all 50 states for the number of people moving in during 2012.


The city has held that spot for five years running, with 64 percent of the household moves in Washington coming from outside the city in 2012.


United Van Lines is the largest moving company in the country for households.


Oregon ranked second, followed by Nevada, North Carolina and South Carolina. Washington is a city that does not belong to a state, but is subject to loose control from the federal government.


“Washington, D.C., is unique because over the last five years its unemployment rate was not hit as hard by the Great Recession,” said Michael Stoll, chair and professor of public policy at the University of California at Los Angeles about the study. “But I think the other thing is that the city has remade itself from the one we knew 10 to 15 years ago.”


Washington has shed its reputation as the crime capital of the country, and it has developed a high technology corridor and other businesses that are both stable and hiring, said Stoll.


Also, many members of the Baby Boom generation are moving in as they retire, taking advantage of the free museums, monuments and cultural events the city has to offer, he said.


The rising popularity could yield a result also unthinkable less than two decades ago.


“D.C. will not just be a place of tourism. It will be a major economic engine, which many of us haven’t thought of it as being before,” Stoll said.


A U.S. Census report released on Thursday also showed the city is gaining new residents. Washington’s population increased 2.15 percent between July 2011 and July 2012, a rise second only to North Dakota.


The District’s population increase of 5.1 percent from 2010 to 2012 was the biggest in the country, the Census found. It had had 632,323 residents as of July 1.


The city has a large international community, largely due to the presence of foreign embassies and organizations such as the World Bank. The Census found people from other countries made up 32 percent of the net migration from 2011 to 2012.


According to a Labor Department report released on Friday, the District’s unemployment rate fell in November to 8.1 percent from 10.1 percent the year before. Local political leaders point to a development boom and one of the highest median incomes in the country – $ 63,124 – as other draws to the city.


On a national level, Stoll said, the migration patterns show Americans are seeking economic opportunity in places where new manufacturing and technology enterprises are building up. The patterns reveal a swelling group of aging people who are retiring and looking for affordable and comfortable places to live, as well.


He added that many people who wanted to move to California, but were put off by the state’s economic woes, turned their moving vans north to Oregon.


New Jersey topped states for outward moves, in 2012, the United Van Lines study showed, largely due to a shrinking factory sector. It was followed by Illinois, West Virginia, Michigan and New York.


Washington’s popularity surge recently created a paradox in the city’s economic success story. Last month, the Brookings Institution concluded three U.S. metropolitan areas are in economic recovery, but did not include Washington because its population burst drove down its gross domestic product on a per capita basis.


(Reporting By Lisa Lambert; Editing by Leslie Adler)


Music News Headlines – Yahoo! News





Title Post: Americans answer D.C.’s siren song of employment, strong economy
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Colorado Woman Billed Medicaid for Dead Father






A Colorado woman was convicted this week for felony forgery for submitting fraudulent documents to Medicaid regarding personal health care services provided to her father after he died. It was the second announcement of Medicaid fraud-related convictions made by the Colorado Attorney General’s office in less than a week. Here are the details.


* According to the office of Colorado Attorney General John Suthers, 52-year-old Viola Kwong pleaded guilty to felony forgery in Denver District Court on Tuesday. She was sentenced to pay $ 16,000 in criminal restitution and perform 50 hours of public service. The restitution reflects all of the money illegally received by Kwong.






* Kwong will also be placed on supervised probation for four years, is responsible for all court costs and probation supervision fees associated with her case, and will pay a civil penalty of more than $ 37,000 to the Colorado Medicaid program, the Attorney General’s Office stated.


* The Attorney General’s Office stated that Kwong had requested services for her elderly father through a Medicaid program that allows the Medicaid client to direct his or her own home-based medical care.


* Because Kwong’s father was too ill to manage his care, Kwong was authorized by the program as his personal representative, in charge of obtaining those services for her father.


* Kwong’s father died on July 23, 2010, but Kwong continued to submit documents about personal health care services that were being provided to her father until Nov. 8, 2010.


* Suthers stated that the restitution ordered was “another significant recovery for Colorado’s Medicaid program.”


* Colorado Department of Health Care Policy and Financing initially referred the case to the Attorney General’s Medicaid Fraud Control Unit.


* Last week, the Attorney General’s Office announced the conviction of occupational therapist Cheryl Moss, 47, for felony theft and felony forgery. Moss pleaded guilty to forging treatment records and fraudulently billing the Colorado Medicaid program for services she did not perform.


* Moss agreed to repay the program $ 54,332, serve 60 days home detention and perform 300 hours of community service. She was also ordered to pay an additional $ 46,000 to resolve any potential civil issues and to report her conviction to the agency charged with licensing occupational therapists in Colorado.


* According to the Attorney General, Medicaid is health insurance for qualifying low-income, disabled individuals, and children and families. Covered services include hospital care, skilled nursing home care, residential adult family care services, hospice, mental health, dental and eyeglass services. Each state administers its own Medicaid program.


Seniors/Aging News Headlines – Yahoo! News





Title Post: Colorado Woman Billed Medicaid for Dead Father
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Major jobs boost in UK North Sea







Statoil is to invest £4.3bn in a North Sea oil field, bringing hundreds of jobs to the north east of Scotland.






The Norwegian company said the investment in the Mariner field was the largest new offshore development in the UK in more than a decade.


Statoil expects to start production from Mariner in 2017, pending final approval by the UK authorities.


More than 700 jobs will be created, including 200 onshore posts in Aberdeen.


The field is expected to produce for 30 years, with average production of about 55,000 barrels of oil a day from 2017 to 2020.


The Mariner Field is located on the East Shetland Platform of the UK North Sea, about 150km (93 miles) east of the Shetland Isles.


Statoil is the operator of the field, with 65.11% equity. Other partners include JX Nippon Exploration and Production (UK) Limited (28.89%) and Cairn Energy (6%).


The development concept includes a production, drilling and quarters (PDQ) platform based on a steel jacket, with a floating storage unit (FSU).


More than 140 reservoir targets are planned for Mariner.


‘Good fit’


Executive vice president for development and production international in Statoil, Lars Christian Backer, said: “Statoil has extensive heavy oil experiences from offshore fields in Norway and Brazil.


“The Mariner field was discovered in 1981 and Statoil entered the licence as operator in 2007 with the aim of finally unlocking the resources.


Continue reading the main story

The North Sea is a core area for Statoil, and we look forward to taking a leading role in further developing also the UK part of this basin”



End Quote Lars Christian Backer Statoil


“We are satisfied that we now are able to make an investment decision for a profitable development of the Mariner field.”


He added: “The Mariner project is a good strategic fit for Statoil.


“We are the world’s largest offshore operator and have a portfolio of attractive projects in some of the most prolific basins in the world.


“The North Sea is a core area for Statoil, and we look forward to taking a leading role in further developing also the UK part of this basin.”


Industry body Oil and Gas UK welcomed Statoil’s announcement.


Economics director Mike Tholen said: “The largest offshore development in the UK for a decade, Mariner requires pioneering technology and will bring hundreds of high-skilled, long-lasting jobs across the country, hundreds of millions of pounds in additional tax revenues, as well as crucial security to our energy supplies.


“Expected to produce oil and gas for 30 years, this project – and others recently given the go-ahead on the UK continental shelf – will help to boost production and stem the decline we have seen in recent years, so helping the full economic benefit of our reserves to be realised in time.”


‘Tremendous news’


Energy Minister Fergus Ewing described the investment as “tremendous news for Scotland’s energy industry”.


He said: “There remains more value still to be extracted from the North Sea than there has been to date.


“With up to 24 billion barrels of oil still to be recovered, with a potential value of around £1.5 trillion, North Sea oil and gas is attracting record investment levels with capital investment of £8.5bn in 2011 and an expected £11.5bn in 2012.


“This announcement builds on positive announcements by Global Energy Group and Dana Petroleum this month, who are investing further in Scotland to capitalise on the potential of our energy resources, which will remain an enormous economic resource for decades to come.”


BBC News – Business





Title Post: Major jobs boost in UK North Sea
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Italy PM Monti resigns, elections likely in February






ROME (Reuters) – Italian Prime Minister Mario Monti tendered his resignation to the president on Friday after 13 months in office, opening the way to a highly uncertain national election in February.


The former European commissioner, appointed to lead an unelected government to save Italy from financial crisis a year ago, has kept his own political plans a closely guarded secret but he has faced growing pressure to seek a second term.






President Giorgio Napolitano is expected to dissolve parliament in the next few days and has already indicated that the most likely date for the election is February 24.


In an unexpected move, Napolitano said he would hold consultations with political leaders from all the main parties on Saturday to discuss the next steps. In the meantime Monti will continue in a caretaker capacity.


European leaders including German Chancellor Angela Merkel and European Commission President Jose Manuel Barroso have called for Monti’s economic reform agenda to continue but Italy’s two main parties have said he should stay out of the race.


Monti, who handed in his resignation during a brief meeting at the presidential palace shortly after parliament approved his government’s 2013 budget, will hold a news conference on Sunday at which he is expected clarify his intentions.


Ordinary Italians are weary of repeated tax hikes and spending cuts and opinion polls offer little evidence that they are ready to give Monti a second term. A survey this week showed 61 percent saying he should not stand.


Whether he runs or not, his legacy will loom over an election which will be fought out over the painful measures he has introduced to try to rein in Italy’s huge public debt and revive its stagnant economy.


His resignation came a couple of months before the end of his term, after his technocrat government lost the support of Silvio Berlusconi‘s centre-right People of Freedom (PDL) party in parliament earlier this month.


Speculation is swirling over Monti’s next moves. These could include outlining policy recommendations, endorsing a centrist alliance committed to his reform agenda or even standing as a candidate in the election himself.


The centre-left Democratic Party (PD) has held a strong lead in the polls for months but a centrist alliance led by Monti could gain enough support in the Senate to force the PD to seek a coalition deal which could help shape the economic agenda.


BERLUSCONI IN WINGS


Senior figures from the alliance, including both the UDC party, which is close to the Roman Catholic Church, and a new group founded by Ferrari sports car chairman Luca di Montezemolo, have been hoping to gain Monti’s backing.


He has not said clearly whether he intends to run, but he has dropped heavy hints he will continue to push a reform agenda that has the backing of both Italy’s business community and its European partners.


The PD has promised to stick to the deficit reduction targets Monti has agreed with the European Union and says it will maintain the broad course he has set while putting more emphasis on reviving growth.


Berlusconi’s return to the political arena has added to the already considerable uncertainty about the centre-right’s intentions and increased the likelihood of a messy and potentially bitter election campaign.


The billionaire media tycoon has fluctuated between attacking the government’s “Germano-centric” austerity policies and promising to stand aside if Monti agrees to lead the centre right, but now appears to have settled on an anti-Monti line.


He has pledged to cut taxes and scrap a hated housing tax which Monti imposed. He has also sounded a stridently anti-German line which has at times echoed the tone of the populist 5-Star Movement headed by maverick comic Beppe Grillo.


The PD and the PDL, both of which supported Monti’s technocrat government in parliament, have made it clear they would not be happy if he ran against them and there have been foretastes of the kind of attacks he can expect.


Former centre-left prime minister Massimo D’Alema said in an interview last week that it would be “morally questionable” for Monti to run against the PD, which backed all of his reforms and which has pledged to maintain his pledges to European partners.


Berlusconi who has mounted an intensive media campaign in the past few days, echoed that criticism this week, saying Monti risked losing the credibility he has won over the past year and becoming a “little political figure”.


(Additional reporting by Gavin Jones, Massimiliano Di Giorgio and Paolo Biondi; Writing by Gavin Jones and James Mackenzie; Editing by Michael Roddy)


World News Headlines – Yahoo! News





Title Post: Italy PM Monti resigns, elections likely in February
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Ashton Kutcher files for divorce from Demi Moore






LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.


The actor’s divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.






Kutcher’s filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.


Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.


Kutcher currently stars on CBS’ “Two and a Half Men.”


Messages sent to Kutcher’s and Moore’s publicists were not immediately returned Friday.


Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations’ efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.


Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.


Kutcher has been dating former “That ’70s Show” co-star Mila Kunis.


The divorce filing was first reported Friday by People magazine.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP.


Entertainment News Headlines – Yahoo! News





Title Post: Ashton Kutcher files for divorce from Demi Moore
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Lauded cancer researcher, Springfield native, dies






A Springfield High School and Wittenberg University graduate whose research transformed the treatment of breast cancer and saved and prolonged the lives of women afflicted by it died Sunday in Cincinnati.


Elwood Jensen was 92.






Known as the “Father of the Nuclear Receptor Field,” Jensen was one of three researchers to share the 2004 Lasker Award for Basic Medical Research, what some call the American Nobel Prize.


The University of Cincinnati, where Jensen was a distinguished professor of cancer biology, noted that just one other of its graduates had won the honor, Albert Sabin, who developed a vaccine for polio.


“Some have estimated that his work annually saves or prolongs the lives of more than 100,000 women,” the university said in announcing his death.


A 1936 graduate of Springfield High School, Jensen was honored in 2008 as one of the Springfield City Schools Alumni of Distinction and he made periodic visits and lectures at Wittenberg University, one of five institutions to award him an honorary doctorate.


A 1940 graduate of Wittenberg, he went on to earn a Ph.D in organic chemistry from the University of Chicago, where he enjoyed a long career as a teacher and researcher. His interest in studying hormones began during 1946, when he spent a year as a Guggenheim Fellow at the Federal Institute of Technology at Zurich.


After his 1990 retirement from the University of Chicago, Jens also taught at Cornell, the University of Hamburg and the Karolinksa Institute in Stockholm and did research at the National Institutes of Health.


In 2003, the University of Cincinnati honored him by organizing the Jensen Symposium on Nuclear Receptors and Endocrine Disorders, which drew more than 300 top researchers from around the world.


Diseases/Conditions News Headlines – Yahoo! News





Title Post: Lauded cancer researcher, Springfield native, dies
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Steve Jobs’ super-yacht impounded







Venus, the minimalist high-tech yacht commissioned by the late Apple founder Steve Jobs, has become embroiled in a row over a disputed bill.






French designer Philippe Starck claims Mr Jobs’ heirs still owe him 3m euros of a 9m euro fee for the project, according to Dutch paper Het Financieele Dagblad.


Mr Starck called in the debt collectors and had the yacht impounded,


The Port of Amsterdam confirmed that the boat is not allowed to leave.


Jeroen Ranzijn, spokesman for the Port of Amsterdam told the BBC: “The boat is brand new but there is a 3m euro claim on it. The parties will have to fight it out.”


Roelant Klaassen, a lawyer representing Mr Starck’s company, Ubik, told the Reuters news agency that the boat would remain in port pending payment by lawyers representing Mr Jobs’ estate.


“These guys trusted each other, so there wasn’t a very detailed contract,” he said.


Mr Starck was unavailable for comment.


Gerard Moussault, the lawyer representing the owners of the Venus told the BBC: “I cannot comment at all on this, sorry.”


The sleek, 260ft-long (80m) aluminium super-yacht cost 105m euros ($ 138m; £85m) and was launched in October, at Aalsmeer, The Netherlands.


Mr Starck is known for his striking designs for the Alessi company, including an aluminium lemon squeezer that is shaped like a spaceship.


He collaborated with Steve Jobs for five years on the project, describing the boat as “showing the elegance of intelligence.”


The vessel is minimalist in style and is named after the Roman goddess of love and its windows measure 3m (10 feet) in height.


Mr Starck has said that Venus “looks strange for a boat” but said its shape comes from design ideas he shared with Mr Jobs.


Mr Jobs died of pancreatic cancer in 2011 and never saw his boat go to sea.


BBC News – Business





Title Post: Steve Jobs’ super-yacht impounded
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

World Music Awards postponed due to visa issues, Newtown tragedy






LOS ANGELES (Reuters) – The World Music Awards was postponed on Thursday due to “logistical and multiple visa issue,” organizers said, two days before the event was scheduled to be held in Miami.


Event producers John Martinotti and Marcol International said in a statement that the December 22 awards ceremony also was being delayed in the wake of the elementary school shooting in Newtown, Connecticut, last week.






“We are sorry for any inconvenience but this decision had to be made due to logistical and multiple visa issues and in view of this week’s national mourning. Fans have been a great support to the artists and have voted online in huge numbers,” the producers said in a statement.


The winners in categories ranging from world’s best song, world’s best artists and entertainer of the year, are picked by fans who vote online. The statement said that votes will continue to be collected until a new date is set for the show.


This year’s nominees include Usher, Justin Bieber, Nicki Minaj, Rihanna and Chris Brown. Past winners include Whitney Houston, Mariah Carey and Michael Jackson.


The awards ceremony, founded in 1989 and hosted by Monaco’s Prince Albert II, has primarily taken place in Monte Carlo and proceeds from the show go to charity. This year, show producers decided to move it to Marlins Park Stadium in Miami.


(Reporting By Piya Sinha-Roy, editing by Eric Kelsey)


Music News Headlines – Yahoo! News





Title Post: World Music Awards postponed due to visa issues, Newtown tragedy
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Pentagon day care review expanding to schools






WASHINGTON (AP) — Defense Secretary Leon Panetta is expanding a Pentagon review of hiring at military day care centers to include Defense Department schools, youth centers and other facilities where children are present.


Pentagon press secretary George Little said Wednesday that officials are also questioning why it took three months for the Army to inform Panetta about arrests and problems with background checks at a day care center at Fort Myer, Va. Two people were arrested in September on multiple charges of assault against children at the Fort Myer center.






Little also said reports that parents of children at the center weren’t told about the problems indicate there may have been a serious breakdown in communications.


“We need to do everything we can wherever our children are entrusted to the care of DOD-employed personnel to insure we have the right personnel with the right background taking care of them,” said Little. “We want to insure that there’s consistency in the standards and policies and practices in hiring wherever military youth are involved.”


Panetta on Tuesday ordered a military-wide review of hiring at day care centers shortly after the Army disclosed problems with security background checks of workers at Fort Myer. Little said Pentagon leaders were surprised to hear of the problem and that “clearly this information did not get reported up the chain of command as quickly as we think it should have.”


The actions stem from the Sept. 26 arrests of two Army employees. One was charged with five counts of assault and the second was charged with four counts of assault.


But the problems at Fort Myer apparently went much deeper. Indications are that at least 30 workers at the facility have histories that call into question their suitability to care for children, according to two officials, speaking on condition of anonymity because the investigation into worker backgrounds at Fort Myer has not been completed.


After the Fort Myer arrests, the Army replaced the day care center’s management team and found what the Army called “derogatory information” in the background of an unspecified number of other employees there. Army officials did not reveal the information, and officials said it’s not clear if the background checks were not done, were not sufficient or simply were not used appropriately in screening personnel.


Col. Fern Sumpter, the Fort Myer commander, said the day care center was closed “out of an abundance of caution” and the children moved to a separate day care center at Fort Myer. A Fort Myer spokeswoman, Mary Ann Hodges, said the center was closed on Dec. 13.


Parenting/Kids News Headlines – Yahoo! News





Title Post: Pentagon day care review expanding to schools
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Vote on US fiscal cliff ‘Plan B’







The Republican-led US House is set to vote on a package of spending cuts and tax rises party leaders say will keep the US away from the “fiscal cliff”.






The vote includes tax rises on earnings above $ 1m (£614,000) on Speaker John Boehner’s so-called “Plan B” option.


It comes as talks with the White House appear to have stalled, with President Barack Obama seeking a lower threshold.


A deal must be reached by 1 January, or a combination of steep tax rises and sharp spending cuts will take effect.


Analysts in the US and overseas have expressed concern that failure to reach a deal could take the US into recession.


Veto threat


A vote is expected by the late afternoon on Thursday, but could stretch on into the evening.


House Majority Leader Eric Cantor said on Thursday: “We, as Republicans, have taken concrete actions to avoid the fiscal cliff.”


He and Mr Boehner say the bill as proposed would ensure permanent tax cuts for 99.8% of Americans.


Continue reading the main story

What is the fiscal cliff?


  • On 1 January 2013, a series of tax increases and huge spending cuts are due to come into force – the so-called fiscal cliff

  • The deadline was put in place in 2011 as a means of forcing the president and Congress to agree on ways to save money over the next 10 years

  • If they can reach a deal before 1 January, the cliff will be averted

  • The fear is that raising taxes while massively cutting spending will have a huge impact on households and businesses

  • Experts believe it could push the US into recession, and have a global impact on growth, especially in China and Europe


But Mr Cantor added that Republicans would not be sending their members home for the Christmas recess after the vote – a sign that Congress could be expected to vote on a more bipartisan deal within days.


Correspondents say the Republican plan has no chance of passing the Democratic-led Senate, and is in effect an effort to tell the US public that they should not be blamed if the US falls over the fiscal cliff.


The White House has threatened to veto the legislation if does pass Congress, saying the bill would mean tax rises on 25 million Americans making under $ 250,000.


A study by the non-partisan Tax Policy Center found some low-income people would see tax rises because the measure would not renew several tax cuts that were part of the 2009 stimulus package.


On Thursday, the White House criticised Republicans, saying Mr Boehner’s response to compromises from the president was “to walk away” from negotiations.


Spokesman Jay Carney said the introduction of Mr Boehner’s so-called Plan B was a “multi-day exercise in futility at a time when we do not have the luxury of exercises in futility”.


‘Partisan war paint’


Mr Boehner announced the bill on Tuesday, saying he would bring forward a measure that extended Bush-era tax cuts for those earning less than $ 1m per year – but would not address the automatic spending cuts.


Correspondents say the move came as a surprise as negotiations appeared to be making progress.


On Wednesday, the Republican leadership added a companion bill that would replace the automatic cuts with a proposal to remove cuts from defence and government operating budgets. They would be offset by reductions elsewhere in the budget.


Continue reading the main story

Start Quote



It is positioning, theatrics, part of the negotiations, not the negotiations themselves. There are still few days left, and many think a deal will be done, because it has to be done”



End Quote



The proposal would cut food stamps, benefits for federal workers and some social services programmes.


On Wednesday, Mr Obama dismissed the bill, telling reporters that he and Mr Boehner were just a few hundred billion dollars apart on full 10-year deal.


The president said Republicans should “peel off the partisan war paint” and take his most recent offer.


Mr Obama is now proposing a tax rise on incomes over $ 400,000 (£247,000), an increase on the $ 250,000 level he had originally sought.


He also offered a change to the way Social Security cost of living adjustments are made for some recipients, cuts from government healthcare programmes and a two-year extension of the debt ceiling.


Mr Boehner’s office called the proposal “a step in the right direction” but not fully “balanced”.


In a brief news conference on Wednesday, the House Speaker countered that the president will bear responsibility for “the largest tax increase in history” if he does veto the bill.


But Senate leaders have signalled there is little hope for the measure in Congress’ upper-chamber.


Senate Majority Leader Harry Reid has said the proposal would not pass and that lawmakers would return to Washington next Thursday to continue working on a deal.


Analysts have painted a grim picture of the consequences of going over the cliff, with some warning that the impact could push the US back into recession.


The Organization for Economic Co-operation and Development (OECD) said in its latest economic outlook that the recession from the cliff could become global.

















































































Changing taxation across the years


Tax year1993-2000200120022003-20082009-20122012 tax brackets2013 scenarios

Source: Tax Foundation, IRS


Tax brackets shown for unmarried individuals



President


a9e78   64870078 clinton Vote on US fiscal cliff Plan B

Bill Clinton


a9e78   64881479 bush gettylong Vote on US fiscal cliff Plan B

George W Bush


a9e78   64870080 obamabbc Vote on US fiscal cliff Plan B

Barack Obama



Tax cuts expire



Tax cuts expire for top incomes



Bottom rate



15%



15%



10%



10%



10%



Up to


$ 8,700



15%



10%



15%



15%



15%



$ 8,700-$ 35,350



15%



28%



27.5%



27%



25%



25%



$ 35,350- $ 85,650



28%



25%



31%



30.5%



30%



28%



28%



$ 85,650- $ 178,650



31%



28%



36%



35.5%



35%



33%



33%



$ 178,650-$ 388,350



36%



33%



36%



Top rate



39.6%



39.1%



38.6%



35%



35%



Over


$ 388,350



39.6%



39.6%



BBC News – Business





Title Post: Vote on US fiscal cliff ‘Plan B’
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..