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September 16, 1993 - Image 2

Resource type:
The Michigan Daily, 1993-09-16

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2 - The Michigan Daily - Thursday, September 16,_1993

Continued from page 1
Sen. Edward Kennedy (D-Mass.)
said he was opposed to putting the re-
quirement on individuals. Employers
might "drop coverage and shift an even
heavier financialburden onto the middle
class," Kennedy said. And he com-
plained that the GOP failed to address
soaring costs.
Under Chafee's proposal, purchas-
ing cooperatives would be set up so
individuals and small companies could
get betterrates.'The arrangements would
be voluntary, not the mandatory alli-
ances Clinton envisions.
Nor would there be any "global
budgets" to put government cost con-
trols on rising premiums. Republicans
say marketplace competition will bring
down costs.
Another difference: No new taxes
are called for in theGOPplan; Clinton's
plan would require new resources.
"This is a mainstream plan," said
Sen. Christopher Bond (R-Mo) Senate
Minority Leader Bob Dole (R-Kan.)
said it was "not a Band-Aid approach,
but it's not major surgery, either."
Like Clinton's,Chafee'splan would
set up a standard package of benefits,

set by an outside board for Congress to
approve or reject but not amend.
Chafee's benefits package is seen as
less generous than Clinton's, but would
include a range of services including
prescription drugs, preventive services
and some mental health and substance
abuse programs.
There would be a limit on the tax
deduction people could take for health
insurance. Any amount spent on health
care more generous than the standard
package would be taxed.
The uninsured would eventually be
covered as savings accumulated from
tort reform and limits on the growth of
Medicaid and Medicare, Chafee said.
He proposed a "pay-as-you-save" ap-
proach that would cover more poor
people as savings add up.
By the year 2000, there could be
federal help for people making 240
percent of the poverty level and below,
about $34,000, Chafee said. That would
ultimately cost about $200 billion, or
about one-third of whatthe Clinton plan
would cost, the Senate Republicans said.
Both the House and Senate plans
mirror the Clinton approach by prohib-
iting insurers from turning away high-
risk people or jacking up premiums
when someone gets sick.


road trip
crates ofpotential exports towering over
him, President Clinton promoted a free-
trade pact before friendly dockworkers
yesterday and bristled at all the atten-
tion being paid to Ross Perot's counter-
Visiting the bustling New Orleans
port less than a year after George Bush
made the same trip to promote the same
trade pact Clinton told a warehouse
crowd: "This is a good deal. It's a
winner. We ought to take it."
In opening his fall drive to get North
American Free Trade Agreement
through arecalcitrantCongress, Clinton
was clearly seeking to counter the rhe-
torical fire of Perot.
Clinton told his audience: "The
people who are afraid of this agreement
are quite well organized. Some of them
have a dollar or two, as you may know,
and they need to hear from you."
Clinton sought help getting his mes-
sage out by dispatching Cabinet mem-
bers around the country to push the
He sent Transportation Secretary
Federico Pena to Miami, Housing Sec-
retary Henry Cisneros to Baltimore,
Interior Secretary Bruce Babbitt to San
Francisco and Labor Secretary Robert
Reich to New York.
Pena told small-business officials in
Miami that no state has a deeper stake in
passing NAFI'A than Florida.
And Vice President Al Gore and
Environmental Protection Agency chief
Carol Browner announced that the
agreement had been endorsed by orga-
nizations representing 7.5 million envi-
Clinton, asked by reporters if he was
losing the public relationsbattle to Perot,
snapped, "No. Why do you guys keep
asking that question?"
"It's not about me and him," Clinton
added. "It's about the American people
and their future."
Clinton was preceded at the ware-
house by Sen. John Breaux (D-La.) who
told the crowd that NAFTA "is about
creating jobs."
Breaux earlier told reporters he
would have to oppose the agreement
unless steps are taken to protect sugar
cane farmers.
Outside the warehouse, a small group
of opponents chanted "No NAFTA"
and waved placards, including one that
said, "We get the SHAFTA with


Kevin Miller tosses the remains of countertops and desk drawers into a dumpster outside Jacobson's. The store closed its
doors downtown last week after relocating to Briarwood Mall.
ean inventores, improved
sloan repayment oint to
better econo-mcal Uture

WASHINGTON (AP) - Fresh re-
ports yesterday suggested the economy
will pick up a bit of steam during the
second half of the year. One showed
businesses with lean inventories, and
another indicated consumers are pay-
ing their debts more easily.
Inventories held on shelves and
backlots fell 0.5 percent in July to a
seasonally adjusted $860.3 billion, the
Commerce Department said. Invento-
ries were unchanged in June. July
marked the first decline since Septem-
ber and the steepest since March 1991.
Meanwhile, the American Bankers
Association said the percentage of
Americans behind on their consumer
loan payments fell during the April-
June quarter to the lowest level in nine
The loan delinquency rate decline
"should support slightly higher con-
sumer spending. Both numbers bode
for slightly stronger economic perfor-
mance in the second half of the year
than we had in the first half," said
economist David Jones of Aubrey G.
Lanston & Co., agovernmentsecurities
Do you have a
complaint? Do
iIfhI w~nt In tiVA

dealer in New York.
Businesses' difficulty in reducing
an unwanted inventory buildup slowed
economic growth in the April-June quar-
ter, but stocks now are at a level that
should not impede future growth, he
Much of the July inventory decline
was concentrated among auto dealers,
where stocks fell 4.9 percent, the largest
decline in nearly seven years.
However, business sales were weak
in July. They fell 1.lpercent to a season-
ally adjusted $583.6 billion. It was the
biggest drop since December 1991.
At the retail level, inventories fell
1.3 percent. They were flat at factories
and down 0.2 percent at wholesalers.
July sales were weakest at factories,
where they fell 2.6 percent. They edged
down 0.1 percent at wholesalers and
rose 0.3 percent at retailers. In an ad-
vance report on Tuesday, the depart-
ment said retail sales rose 0.2 percent in
Meanwhile, the bankers association
said a seasonally adjusted 2.06 percent
of consumer loans were 30 days ormore

past due at the end of June, down from
2.31 percent at the end of March and
2.60 percent a year earlier.
The latest rate, a composite of eight
types of installment loans, was the low-
est since 2.02 percent at the end of June
Economists said slow-but-steady
improvement in the job market, low
inflation and extensive mortgage refi-
nancing has improved consumers' abil-
ity to repay their loans.
"Consumers are halfway home in
terms of redressing their balance sheet.
They are midway between what could
be considered a healthy debt level and
the dire situation they had gotten into by
the late 1980s," said economist Elliott
Plattof Donaldson, Lufkin and Jenrette.
The eight types of loans included in
the composite delinquency rate are: auto
loans made directly by banks, auto loans
purchased by banks from other loan
originators, personal loans, second
mortgages, home improvement loans,
recreational vehicle loans, mobile home
loans and boat loans.


A t E n evE





III JvMTwa.lb U i


us a suggestion?

Continued from page 1
EmiNakazato, co-coordinatorof the
Peer Education Program at the Sexual
Assault Prevention andAwareness Cen-
ter said some aspects of a similar policy
may serve to reduce incidents of sexual
assault on campuses.
"Anything done on an educational
level is a good thing," she said, but she
cautioned against placing toomany re-
strictions on students.
"People don't want to be told what
to do in their bedrooms." she said.

Rob Johnson, anLS A junior, said, "I
personally think itwouldbea joke. I just
don't think anybody would take it seri-
ously. There would be no way to en-
force it."
LSA junior Patricia Dugan ques-
tioned, "How could you monitorapolicy
like that? It all comes down to your
word against someone else's."
But LSA senior William Newstone
said he thinks the policy will help.
"I think it would be a fine policy to
impose into any university, especially
with all the legality of date rape going
on right now," he said.






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