Does the President Still Object to Providing Health Insurance to Low-Income Children?

We'll know soon. BNA's Daily Tax RealTime (no link, sorry): President Bush formally received Congress's second attempt to pass an extension of the State Children's Health Insurance Program (H.R. 3963) Nov. 30, requiring him to again decide whether to veto the bill over its inclusion of tobacco tax increases and program expansions. The bill would pay for $35 billion in new spending in the bill by raising the federal tobacco excise tax for cigarettes to $1 per pack, from 39 cents per pack, and by sharply increasing the tax rates on cigars and other forms of tobacco.

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There's Enough Money For The War To Last Until About March

The Defense Department keeps threatening to cut back program activities if a war supplemental isn't passed immediately. Here's more evidence that they're bluffing or lying. From page 3 of a Nov. 9th CRS report (emph. mine):

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SCHIP Revision To Be Sent To President

It looks as though Congress will send the SCHIP revision to the President after all. He will veto it and Congress probably won't have enough votes to override the veto. So I wouldn't get my hopes up.

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Carlyle MD Sounds Retreat on Carried Interest Defense

Carlyle MD Sounds Retreat on Carried Interest Defense In another sign that the buyout firms see trouble ahead in their effort to preserve the carried interest loophole, Carlyle Group managing director David Rubenstein conceded the difficulty of the defense in reported remarks to an audience at the American Enterprise Institute in Washington yesterday. "We may not get everything we want; we probably won't. We may have to compromise."

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Today's Krugman Column Needs Work

Paul Krugman's column today was a little off-base, I think. He basically calls out Sen. Barack Obama for not including a mandate in his universal health care plan, which he thinks will make insurance much cheaper. I think his claims are overblown. The best estimate I've seen puts health care cost overruns at $480 billion. About $100 billion was due to inefficiencies in the insurance system on its own, and administrative expenses and profits make up the bulk of those unnecessary expenses. And I haven't seen anything on how being uninsured significantly raises costs in the delivery system.

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Deja Vu on Spending

The domestic appropriations fight is feeling like the war spending debate all over again. The Democratic caucus is now behaving much like it did then. First comes disbelief that the President and his congressional allies are intransigent, then strategic confusion. If everything goes the same, the next step is full capitulation.

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One-year Anniversary of FedSpending.org

New, improved version of website to be released On its first anniversary when new features of OMB Watch's FedSpending.org site are to be unveiled, a story on big contractors receiving small earmarks appeared in Gov Exec. "Defense Bill Proves Lucrative for Biggest Firms demonstrates precisely the kind of databse search that helps citizens learn how the government is spending their money -- searches facilitated by FedSpending.org's upgrade.

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Going, Going, PAYGONE?

Great Explications and IRS Commissioner v. Grassley President Bush and Senate Republicans continue to insist that the patch extending the hold-harmless provision, or "patch," keeping 20 additional Americans from having to pay the Alternative Minimum Tax (AMT) must not be offset, because PAYGO is an only an excuse for tax hikes. Bush swiftly threatened to veto the House-passed bill providing for an AMT patch extension earlier this month... precisely because the bill pays for the cost of the patch..

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Not Changing the Food Stamp Program Is A Budget Cut

The Center on Budget and Policy Priorities has another important fact sheet up, this time on the Food Stamp program. Congress is considering leaving the program, which is up for reauthorization in the Farm Bill, unchanged. Work on the Farm Bill in the Senate has ground to a halt, and some folks in Congress are suggesting that they revisit the program the next time it comes up for reauthorization- 5 years from now.

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Investigating the Investigators

Another chapter in the Lurita Doan investigation* opens. In this latest installment of the Doan saga, Scott Bloch, the head of the Office of Special Council, which appointed the special prosecutor to investigate Doan, is being scrutinized for shredding documents related to an investigation into his own misconduct. (Got all that?)

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