Toyota to stop making certain models in U.S.
Toyota will temporarily stop making eight models of vehicles in the U.S., after finding a manufacturing flaw in the gas pedals. This is the third time that the company has needed to recall vehicles due to a condition where the gas pedal sticks and causes the car to accelerate more than intended. Toyota hopes that the problem will not damage their reputation as the number one car company in recent years.
Ruling changes way elections are run
In a 5-4 ruling, the Supreme Court decided that corporate spending on elections cannot be banned by the government.
The decision changes the way elections are run by creating less regulation on funding. Laws in 24 states were left in direct or indirect confliction with the ruling, leaving some states to decide how to reinterpret their state laws.
Most notably, states that have bans on political contributions by corporations and unions will be affected.
All states will be affected however, because they will be unable to create new state laws restricting corporate spending on elections.
Health insurance companies debate costs
In New York City, there is a riff between United Health Care, one of the biggest U.S. insurance companies and Continuum Health Partners, a chain which includes five major New York hospitals.
The struggle is over control of health care costs.
One of the main arguments is over the insurance giant’s plan to cut patients’ reimbursements in half if the hospital does not notify the company within 24 hours of the patient being admitted.
The fight only adds to the already uncertain state of health care.
Obama proposes 3-year freeze on spending
In order to stick to his plan of cutting the budget deficit, President Obama has proposed a three-year freeze on domestic program spending.
The money that is expected to be saved by this plan is about $250 billion over 10 years.
It will be a small gain, however, in comparison to the estimated $9 trillion in deficits that the government expect to have in that span.
U.S. economy boasts large increase
The U.S. economy made great strides at amounting a comeback.
It boasted a tremendous increase in the 4th quarter of 2009.
The growth is said to be the fastest in over six years.