NPR 2009-09-17

Senate Finance Committee Chairman Max Baucus today unveiled a ten-year 856-billion-dollar healthcare overhaul 1 bill though the Congressional Budget Office had a lower number. In the news conference on Capitol Hill today, the Montana Senator said with healthcare cost continuing to climb, it’s imperative 2 for lawmakers to take action on healthcare legislation now.

“In the past day, another 17,000 people lost coverage 3.”

However, it also appears the measure has little Republican support, something White House spokesman Robert Gibbs said the President remains 4 hopeful it will change once committee does act.

There will be a continued legislative 5 process that will tweak and change legislation as there always is. I don't look it. I don't think the President would say today is the end.

Still House minority leader Mitch McConnell was critical of the initiative, calling it a partisan 6 proposal. It would cut Medicare by nearly half a trillion dollars and hurt small businesses and families.

The Federal Reserve says industrial production was up in August for the second straight month. Meanwhile the separate report says that threat of inflation in the US remains subdued 7. NPR's Jim Zarroli has more.

The Labor 8 Department says inflation rose four tenths of a percentage point last month. But much of that was because of another steep rise in gasoline prices. When energy costs are factored out, prices rose at a much milder rate of tenth of a percentage point. Meanwhile the Federal Reserve said output by US industries rose eight tenths of a percentage point in the August. Production was also twice as fast as first estimated in July. Despite the increase the Fed said the capacity utilization 9 rate, another measure of economic activity, was still well below average. The number suggests that the economy is improving but a complete rebound 10 is still far off. And the threat of inflation remains low. Jim Zarroli, NPR News, New York.

The Obama administration has delivered the Capitol Hill a set of objectives designed to gauge 11 progress in Afghanistan and Pakistan. These are the long promised benchmarks which were officially due next week. NPR's Mary Louise Kelly reports.

The draft document runs three pages and it lays out broad goals for the region, such as disrupt terrorist networks in Afghanistan and especially Pakistan, promote more capable, accountable and effective government in Afghanistan, and involve the international community more actively 12 to forge an international consensus 13 to stabilize 14 Afghanistan and Pakistan. The matrix are mostly subjective 15 and it's not clear whether they'll satisfy lawmakers who've called for specific benchmarks to measure progress. The document sets March 30th next year as a deadline for the administration to take stock of how well it's doing and achieving its goals. Mary Louise Kelly, NPR News Washington.

On Wall Street the Dow-Jones Industrial Average gained 108 points to close at 9,791. The NASDAQ was up 30 points. The S&P 500 closed up 16 points today.

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Atlanta based Delta 16 Airlines is looking for a little extra time in dealing 17 with some 904 million dollars in debt in connection with its ongoing 18 integration 19 of Northwest Airlines. The Security and Exchange Commission filing Delta said it might take on additional debt with a later maturity 20 date in order to pay down some of its current debt. Delta acquired Northwest in October of last year and said it's expected to be able to operate as a single entity 21 by the end of this year. With the acquisition of Northwest, Delta has become the world's largest airline operator.

Today in Japan, the US-educated opposition 22 leader has made history by becoming the country's new Primer Minister, Doualy Xaykaothao has more.

The victory of 62-year-old Yukio Hatoyama, head of the Democratic Party of Japan means after almost 55 years conservatives no longer govern Asia's largest economy. Hatoyama, who was educated at Stanford, said I've mixed feelings of excitement about changing history and the very heavy responsibility of making history. He promised to restart Japan's economy which is in its worst recession since World War Ⅱ, create more jobs to lower the unemployment rate which is at a record high and reduce public debt. Hatoyama's new government includes veteran lawmakers and younger conservatives. Next week Hatoyama is expected to travel to New York to attend a general assembly in the United Nations and possibly meet with President Obama. For NPR news, I'm Doualy Xaykaothao.

The government's broadest measure of foreign trades shrank in the April through June quarters showing the weak economy cut substantially the US demand for foreign goods. Government says the current account deficit 23 fell by nearly 99 billion dollars during the second quarter.