Health insurance costs for low and moderate-income earners will be lowered through tax credits when the 2010 health reform law takes effect. But will the plan actually lower health insurance costs?
Bush tax cuts: A tussle between Republicans and Democrats over the future of the Bush tax cuts played a large role in scuttling the congressional super committee's attempt to reach an agreement on reducing the budget deficit.
Fanning out to the sets of the Sunday morning talk shows, Democrats and Republicans on the deficit-cutting "super committee" blamed each other for a deepening impasse that has all but doomed chances for an accord.
Republicans and Democrats remain far apart on how much tax hikes should contribute to deficit reduction. The deadline for the super committee to reach a deal is next Wednesday.
Another decade of these lower tax rates for the wealthiest 5 percent of Americans would cost the US Treasury around $2 trillion – more than the amount of deficit reduction (at least $1.2 trillion) the debt super committee must find.
The administration itself has abandoned a long-term health-care provision for seniors, and the Supreme Court will decide soon whether to take up the law. Critics see beginning of the end for Obama's health-care reforms.