Vermont is saying a sad goodbye to its hopes of enacting America's first single-payer health care system.
The reason the state says it won't pursue the plan is that it's just too expensive. Even Democratic Gov. Pete Shumlin, who hoped the system would be a highlight of his political career, agrees that the tax hikes necessary to fund the system would have been prohibitive.
The new defense spending bill includes $120 million for tanks that the Army has repeatedly said it doesn't want.
For three years, the Army in numerous Congressional hearings has pushed a plan that essentially would have suspended tank building and upgrades in the U.S. for the first time since World War II. The Army suggested that production lines could be kept open through foreign sales.
Each time, Congress has pushed back. Last week, Congress won again in the National Defense Authorization Act (NDAA) for Fiscal Year 2015.
Citigroup is the Wall Street mega bank that forced the repeal of the Glass-Steagall Act in 1999; blew itself up as a result of the repeal in 2008; was propped back up with the largest taxpayer bailout in the history of the world even though it was insolvent and didn’t qualify for a bailout; has now written its own legislation to de-regulate itself; got the President of the United States to lobby for its passage; and received an up vote from both houses of Congress in less than a week.
"Raising rates up to 17% — that's the end of the banking system," an "emotional" senior manager of a mid-size bank told Vedomosti on Tuesday.
Vedomosti is a Russian-language business publication that is a joint venture between Dow Jones, the Financial Times, and the publishing house Sanoma Independent Media.
The banker "gives an example: today, one of the major banks told one of the largest energy companies, that the bank wants to raise credit rates up to 19%," Vedomosti reports.
Washington (AFP) - The relentless fall in oil prices and Russia's plunging currency pose big challenges as the US Federal Reserve opens a two-day meeting Tuesday.
The Fed's last meeting of 2014 was expected to confirm its path toward monetary policy normalization after holding its base interest rate at the zero level for six years to bring the country out of the Great Recession.