Deny the evidence UBS can only attract troubleThree solutions are then available to the GovernmentTrucks moved to chlorinated products spent by sector North reserved to nitrateBecause the strength of the yen does not excuse everything1 a level comparable to that of Sri LankaResistance to the crisis was organised in formula 1It is then that Lyonnaise enters the danceEconomic financial and political climate is readyThe quarterly results season in full swingIn the spring of 2004 for a total cost of 46The rich pay reform or at least a large part of the American health care system that has been encrypted 634 billion. Barack Obama yesterday unveiled its forecasts of budget for the next 10 years, providing 318 billion of additional taxes for the wealthy and cuts in the federal budget. The increase would be gradual, but would begin in 2009 with a decline of certain tax deductions for having more annual $ 250,000 homes. The other source of funding of the reform would be an overhaul of Medicare (coverage for the elderly) including reducing the grants made to the insurance companies, by recreating the competition between it and amending certain benefits granted to pharmaceutical groups. "This budget is a historic commitment to the reform of the health care system," noted yesterday Barack Obama, who admitted that it would not please the lobbyists but that ultimately the control of medical costs would also improve the
deficit.
(Closed September 30) current year budget deficit has been revised significantly upward: 1.750 billion or 12.3 of GDP. It provides additional assistance of $ 250 billion to rescue financial institutions. It would be sufficient to buy the equivalent of 750 billion of toxic assets. Markets extremely well responded yesterday to this extent, the financial values starting rising. "The administration has given just what markets wanted, i.e. assistance but not Frank nationalization.". "It seems to be the magic wand for the stock market at this time", commented to the Agency Bloomberg Cary Leahey, an economist at Decision Economics in New York.
The 2010 budget, estimated at 3550 billion, will be funded in part by an increase of taxes for the rich, a revision of the method of taxation of fund managers hedge their income will be taxed under the general scheme and as capital gains, which would bring 24 billion or even the decrease in subsidies to insurance under Medicare. Companies will also solicited: over the next ten years, 210 billion would ban American companies from taxation of foreign profits. New sources of income would come also from petroleum groups, which could bring 5.3 billion between 2011 and 2019. Military spending would be brought back turn to $ 140 billion (against 190 billion last year). 2010 Budget priorities have been given health, education, environment , but details of the measures is not ready before the month of April. They will be then widely discussed and amended by Congress.
Fiscal discipline
"If we worsen our budget deficit in the short term to provide immediate relief to families and revive our economy, it is only by restoring fiscal discipline in the long term that we can produce a sustained growth and shared prosperity", Barack Obama said yesterday. It has already announced Monday that he wanted to see the deficit fell to 533 billion at the end of its mandate.
The Government has identified 2,000 billion savings which can be obtained in the federal budget over the next four years. They are mainly in the field of defence (costs should decrease to $ 130 billion in 2010 and 50 billion then) and agriculture.
