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Special Device Help Prevent Suddent Infant Death

Special Device Help Prevent Suddent Infant Death

Researchers from Germany's Fraunhofer Institute for Reliability and Microintegration IZM in Berlin has developed a new breathing sensor system that help prevent Sudden Infant Death Syndrome (SIDS). This syst...

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University Installs Grass Lawn in School Library

University Installs Grass Lawn in School Library

Cornell University has built a grass lawn inside their school library as a part of a project of their institution's Department of Design and Environmental Analysis. The department is currently conducting a r...

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Wash Your Clothes in a Portable Washing Machine [Video]

Wash Your Clothes in a Portable Washing Machine [Video]

Meet, the Scrubba, a portable washing machine, in form of a bag. This wash bag, allows people to do their laundry, on-the-go. The Scrubba is a lightweight, foldable bag that features small nodules to help sc...

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Fart-Deodorizing Underwear Sold in Japan

Fart-Deodorizing Underwear Sold in Japan

Thanks to Japan's new invention, the Deoest underwear, extreme farters can now release their foul smelling gas and prevent people near them from fainting. It is a fart-deodorizing underwear, created by Profe...

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Obama’s Jobs Plan, to Raise $400 Billion in Taxes

Written on September 13, 2011 by Japhet Writ

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Through tax increases and subsidy deductions, Barrack Obama's jobs plan is believed to raise more than $400 million.

White House Office of Management and Budget Director, Jack Lew, outlines President Barrack Obama’s plan to pay for his $447 billion jobs plan — mostly through tax increase. The budget director said that itemized tax deductions and exemptions for those making $200,000 or more, and families earning greater than $250,000, would be cut. That would raise about $400 billion to pay President Obama’s jobs plan for over ten years.

Moreover, a change to bring more hedge fund earnings under normal tax rules – as opposed to carried interest rates – would raise another $18 billion. However, Jack Lew said that the new tax rule would not take effect until January 2013.

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Moody’s Investors Services Puts US Bond Rating on Review

Written on July 14, 2011 by Japhet Writ

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Congress needs to move quickly in raising the debt ceiling, as Moody's Investors Services puts the US bond rating in review.

The pressure on lawmakers to raise the debt ceiling fired up last Wednesday, as Moody’s Investors Services brings the US bond rating into review. The move was made due to the “rising possibility” that Congress will be unable to raise the debt ceiling by August 2. If that will be the case, it could lead US’ debt on default. Moreover, the Treasury Department will be unable to pay the country’s bill in full and on time without being allowed to lend new money.

But even if lawmakers raise the debt ceiling in time, Moody’s pointed out that it is expecting progress on the long-term debt. Hence, the agency would likely change their outlook on US’ AAA rating from “stable” to “negative.”

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State Debt plus Pension Obligations is Huge Problem

Written on January 28, 2011 by Japhet Writ

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States' debt loads are high enough, but when you combine them with their pension obligations, the numbers are really eye-popping.

With the State’s debt high enough, addition of pension obligations can be a huge liability. That is according to Moody’s Investor Service report. Take Hawaii’s debt for instance: It has $5.2 billion of debt, plus pension obligations of the same amount. As a result, the dual accountability makes up 16.2% of Hawaii’s economy.

With states having a difficult time paying for school and social services alone, many struggles to make big pension payments. That said, a state’s pension and debt loads garner more attention. Just how deep states are buried in their liabilities is just a matter of debate.

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