Possibly signaling a national trend, The Cleveland Clinic, ranked the fourth-best American hospital by U.S. News & World Report, announced that it plans to cut $330 million from its 2014 budget, and attributed about half of those cuts, roughly $165 million, directly to the Affordable Care Act (ACA), also known as "Obamacare."
Massachusetts General Hospital, ranked number two by U.S. News & World Report, also reported increased budget cuts but did not have a specific number.
"We had to take about $330 million out of next year's budget," Eileen Sheil, executive director of corporate communications at the Cleveland Clinic, said in an interview on Monday. Sheil told The Christian Post that "half of the 330" is directly attributable to Obamacare. more >>
A United Methodist Church leader has been elected to the post of General Secretary/President for the National Council of Churches.
James E. Winkler, general secretary of the United Methodist General Board of Church and Society, was elected earlier this week by the NCC Governing Board.
Management at a Cleveland branch of Walmart, America's largest food chain, sparked a fierce debate over whether employee compensation is too low after a food drive was started at the branch to make sure the neediest of the store's workers had enough to eat for Thanksgiving.
"Please Donate Food Items Here, so Associates in Need Can Enjoy Thanksgiving Dinner," note signs attached to tablecloths at the branch along Atlantic Boulevard in Canton, according to cleveland.com.
As word spread about the store's initiative, however, some people didn't appreciate the message Walmart was sending. more >>
The Dodd–Frank Wall Street Reform and Consumer Protection Act, sarcastically known as Dodd-Frankery and Dodd-Frankenstein, was passed into law in response to the financial crisis and recession of 2008. It contains the most drastic changes to financial regulations since the regulatory reform after the Great Depression. Proposed by Obama in 2009 and signed into law in 2010, the Democratic bill was the handiwork of former Financial Services Committee Chairman Barney Frank (D-Mass.) in the House and former Banking Committee Chairman Chris Dodd (D-Conn.) in the Senate. It was supposedly going to stop banks from making loans to risky buyers who could not pay them back, reducing foreclosures. It was also supposed to change the rules so banks could no longer receive taxpayer-funded bailouts due to their poor business practices.
It hasn't worked out the way its Democrat proponents claimed. This is because the people who got us into this mess are the same ones who drafted the law. Dodd-Frank contains more of the same things that precipitated the financial crisis; government meddling in the mortgage business and financial markets. Lobbyists for special interests carved out loopholes, resulting in merely different lists of winners and losers. As one author in U.S. News & World Report observed, "These exemptions are less about protecting unsophisticated borrowers than about protecting the taxpayer-guaranteed business models of favored entities." Hedge funds and some other firms lost big; they are now required to fill out a 192-page form that has been estimated to cost each firm $100,000-$150,000.
Speaking of winners or losers, most outrageously, Dodd-Frank didn't bother to reform Fannie Mae or Freddie Mac, the biggest culprits for handing out mortgages to high-risk borrowers who should never have qualified for them. They received the largest bailouts of all financial institutions in 2008. more >>
According to new data from the Census Bureau, the proportion of young people who move is at a 50-year low. Some blame the economic crisis or government programs for the "prolonged adolescence" experienced by the Millennial generation, while a Christian filmmaker focuses instead on cultural values and fears.
Census data shows that the number of adults between 25 and 29 who moved between March 2012 and March 2013 hit a 50-year low – at 4.9 million, just 23.3 percent, according to One News Now. This was the lowest level since 1963.
"Unfortunately, we've got government policies that are causing us to delay major milestones that other generations enjoyed at our age," Patrice Lee, manager of outreach at Generation Opportunity and visiting fellow at the Independent Women's Forum, told The Christian Post in an interview on Thursday. more >>
In a move hailed by LGBT rights groups, the United States Senate has passed the 2013 version of the Employment Non-Discrimination Act.
The Senate voted on Thursday 64 to 32 in favor of passing the legislation, which if enacted would bar workplace discrimination on the basis of sexual orientation and gender identity.
Tico Almeida, founder and president of the pro-gay organization Freedom to Work, said in a statement that the vote was a "historic step." more >>