Items of Interest:
New York Times:
To Pay for Health Care, Obama Looks to Taxes on Affluent – President Obama will propose further tax increases on the affluent to help pay for his promise to make health care more accessible and affordable, calling for stricter limits on the benefits of itemized deductions taken by the wealthiest households, administration officials said Wednesday...
Michelle Caruso-Cabrera / CNBC: Op-Ed: War on Wealthy Will Cost Us AllThe Budget, Doc — At 134 pages, it's a fairly quick read.John / Power Line: OBAMA'S BUDGET: THE BEGINNING OF THE END?Noam Scheiber / The New Republic: Are We Becoming Less Dependent on China? Plus Bonus Larry Summers Story...David Rogers / The Politico: Promises, risks in new spending planCeci Connolly / Washington Post: Obama Proposes $634 Billion Fund For Health CareMartin Crutsinger / Associated Press: Official: Obama budget sees $1.75 trillion deficitKate Galbraith / Green Inc.: Obama's Budget Presumes Revenue From a Carbon MarketLawrence Cunningham / Concurring Opinions: Who Are the “Moneyed Elite”? — Inspired by Frank's post …Steve Benen / Washington Monthly: HE'S GOING FOR IT.... In his address to Congress this week …Tahman Bradley / Political Punch: President Obama to Propose Medicare Premium Increase for Top 5% of RecipientsSarah Rubenstein / WSJ.com: Obama Budget Cuts Medicare Advantage, Helps Generic BiotechHugh Bartling / Cafe Talk Aggregator: More Details Emerging on Obama's Cap-and-Trade PositionTom Bozzo / Angry Bear: The Republican Leadership Declines ‘Pigou Club’ MembershipPrairie Weather: The budget: now it's getting specific and seriousCaitlin Taylor / The Note: The Note, 2/26/09: Taxing Tasks …Publius / Obsidian Wings: More Audaciousness — The good news is that it's pretty …David Leonhardt / Economix: A Primer on Health CostsTas / Comments from Left Field: Carrying GOP water?Robert Stein / Connecting.the.Dots: Radical Surgery for Health CareEconomist.com l WASHINGTON / Democracy in America: How they'll do health care — THE economic crisis has changed …Krooney / TIME.com: NUMBER CRUNCHER — The president will lay out his fiscal year …Reliapundit / THE ASTUTE BLOGGERS: HE REALLY IS A SOCIALIST, JUST LIKE WE SAID …Laura Meckler / Wall Street Journal: $318 Billion Tax Hit ProposedSusanG / Daily Kos: $634 billion budgeted by Obama for the uninsured
Budget Deficit to Hit $1.75 Trillion -- President Barack Obama delivered Congress a $3.6 trillion budget blueprint Thursday that hopes to "break from a troubled past" with a sharp shift toward expanded government activism, tax increases on affluent families and businesses, and spending cuts targeted at those he says profited from "an era of profound irresponsibility."
The budget blueprint for fiscal year 2010 is one of the most ambitious policy prescriptions in decades, a reordering of the federal government to provide national health care, shift the energy economy away from oil and gas, and boost the federal commitment to education...
In President's Budget Plan, Broad Agenda and a Few Gaps –
discussion:Federal Eye: The Budget: First GlanceJames C. Capretta / The Corner: The Obama Baseline — It's one of the oldest tricks in the book.Bruce McQuain / QandO: Budget Voodoo — B — arack Obama is about to submit his first budget to Congress.The Politico: Obama to lay out 8 keys to health plan
discussion:Ben Feller / Associated Press: Obama: Budget keeps promise to American peopleBig Tent Democrat / TalkLeft: President Obama Unveils Aspects Of Budget ProposalThe Caucus: Examine the Budget Document YourselfKrooney / TIME.com: Obama: “We Must Add to Our Debt in the Short Run”Felix Salmon / Portfolio: The Astonishing Budget Deficit
AP / ESPN:
Report: NBA plans to borrow money -- SportsBusiness Journal reports the NBA plans to borrow $175 million to distribute to teams in need of additional cash.
The deal comes at a time when leagues are laying off staffs and cutting ticket prices. It will allow the NBA to distribute up to $11.66 million to 15 teams that responded to a league survey gauging interest in the money, SportsBusiness Journal said.
The report says the league plans to borrow the money Thursday...
- The Reeducation of Dr. Summers - Michael Hirsh & Evan Thomas, Newsweek
- So Much for Fiscal Responsibility - Diana Furchtgott-Roth, RealClearMarkets
- How To Price Troubled Bank Assets - Peter Wallison, Wall Street Journal
- Banks' Books Are Finally Revealing Truth - Jonathan Weil, Bloomberg
- Nationalization: Who Would Bear the Pain? - Peter Coy, Business Week
- Nationalize? Remember the House Bank - James Glassman, The American
- Obama Confronts Our Conventional Energy Future - Editorial, NY Times
- But Do The Markets Hate Barack Obama? - Paul Kedrosky, The Daily Beast
- Time to Consider the Cost of Regulation - Wayne Crews, RealClearMarkets
- Obama's Solutions Promise More Crisis - Terence Corcoran, National Post
- Obama's Spending Will End the Crisis - Anatole Kaletsky, Times of London
- Aiding Bottom 10%: A Recipe for Economic Decline - John Tamny, RCM
- We Shouldn't Seek to 'Hire American' - George Pieler & Jens Laurson, Forbes
- Jeremy Siegel Says S&P 500 Earnings Wrong. No, He's Wrong - Bespoke IG
- Seven Signs of an Economic Bottom - Mark Sunshine, Seeking Alpha
- The Future of Financial Services - Scott Rothbort, TheStreet.com
- A Look at the Government's Two "Stress Test" Scenarios - Economix
- The Re-Regulation of the American Financial System - Curious Capitalist
- Economic Math vs. Obama's Speech - James Pethokoukis, Capital Commerce
- Banks Are Lending, Don't Nationalize - Editorial, Investor's Business Daily
- Bank Nationalization Is Done Deal, Let's Move On - D. Reilly, Bloomberg
- Don't Nationalize Banks. 'Partner'ize Them - J. Glassman & W. Nolan, WSJ
- Lessons from the Swedish Bank Crisis - Anders Aslund, Peterson Institute
- Why More US Banks Aren't Being Allowed To Fail - Albert Bozzo, CNBC