Millions more could join Medicaid as Republican governors cave in
(CNNMoney) - Despite their initial, vehement protests, a growing number of Republican governors are giving their blessing to expanding Medicaid in their states. That opens the door for millions of poor Americans to enroll in government health care coverage, beginning in 2014.
Florida Governor Rick Scott on Wednesday became the latest to warm up to the expansion, which broadens coverage to adults with incomes below 138% of the poverty line. Medicaid rules vary from state to state, but many states (including Florida) do not currently cover most childless, non-disabled and non-elderly adults.
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Unemployed would lose benefits if federal budget cuts go through
(CNNMoney) - The long-term unemployed can kiss goodbye almost 10% of their weekly jobless benefits if federal budget cuts go into effect on March 1.
Many safety net programs, such as food stamps and Medicaid, are protected from the $85 billion in forced spending cuts, but extended federal unemployment benefits are vulnerable.
FULL STORYState of the Union: Obama's promises kept and broken
New York (CNNMoney) - Looking for ways to lift America out of a downward economic spiral, President Obama made a lot of promises in his State of the Union addresses ... and he even kept many of them.
Obama was more successful in pushing his policy goals through Congress in the first half of his first term, when both chambers were in Democratic control. By the time he gave his first address before Congress in 2009, he had already secured the American Recovery and Reinvestment Act and put in place a program to assist homeowners facing foreclosure. By midterm, he wrestled lawmakers into approving two other landmark pieces of legislation that dominated his early addresses: health care and Wall Street reform.
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Texas to California businesses: Move here!
New York (CNNMoney) - Texas Governor Rick Perry has three words of advice for California businesses: Move to Texas.
Perry has launched a high-profile battle for California companies, running radio ads in California touting the Lone Star State's low taxes and favorable business climate. The ads will be heard in San Francisco, Sacramento, Los Angeles, San Diego and the Inland Empire area east of Los Angeles.
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Last checks go out for 2 million jobless
New York (CNNMoney) - Some 2.1 million jobless Americans are receiving their last federal unemployment checks this week if Congress doesn't extend the deadline to file for extended benefits.
And another 1 million who exhaust their state benefits in the first quarter of 2013 will never see a federal unemployment payment, according to the National Employment Law Project, an advocacy group.
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Forget the rich, fiscal cliff would hit everyone else too
New York (CNNMoney) - Sure, the rich would get hit hard by the fiscal cliff. But nearly everyone would feel the brunt of the tax hikes.
"Going over the fiscal cliff will raise taxes on 90% of Americans," said Roberton Williams, a senior fellow at the Tax Policy Center.
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'Marriage penalty' could make costly return
New York (CNNMoney) - The return of the so-called marriage penalty could cost many couples more than $2,000 in higher 2013 taxes if Congress doesn't get its act together and fix the fiscal cliff.
As a result of the Bush tax cuts, married couples get a standard deduction that's exactly twice that of individuals. And the income ranges for the 10% and 15% tax brackets are also doubled. Prior to 2001, many married couples had paid a "penalty" because their standard deduction and income tax brackets were less than twice those of singles.
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Deficit reduction? Not without entitlement reform
New York (CNNMoney) - As the fiscal cliff nears, the question remains whether policy makers will meaningfully address the biggest drivers of the national debt: Medicare, Social Security and Medicaid.
Experts say it's unlikely they will ... at least not in the next few weeks. The two sides have vastly different views on health care, with Democrats looking to avoid benefit cuts and Republicans focused on limiting the federal government's liability.
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October jobs report: Hiring increases, unemployment up
New York (CNNMoney) - Hiring increased last month, while the unemployment rate ticked higher, according to a report released just four days before the presidential election.
The economy added 171,000 jobs in October, while the unemployment ticked up to 7.9, from 7.8% in September, the Labor Department said Friday.
Private hiring jumps, unemployment claims fall
New York (CNNMoney) - Private sector hiring jumped in October, according to a report released Thursday by payroll processor ADP.
Private employers added 158,000 jobs in the month, ADP said, beating economists' forecasts of 143,000.
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