Republicans oppose a proposed surtax on high wage earnings to pay for the new system, and assert that plan amounts to a government takeover of health care that would be far more expensive than Democrats and the president project.

VOA: standard.2009.07.21

Obama stumped Wednesday in support of his minimum-wage plan, his calls for a manufacturing revival and his other State of the Union proposals in a trip to Ashville, N.

NPR: Boehner: Up To Democrats To Prevent Budget Cuts

According to Economico, the actual plan stipulates wage and pension freezes for public sector employees through 2013 with a reduction in the civil servant headcount of 1% in 2012.

FORBES: Portugal's $116B IMF-EU Bailout Extends Recession For Two Years

That may now require the central bank and government to agree on an inflation target and a plan of wage and price co-ordination to meet it, says Mr Levy-Yeyati.

ECONOMIST: From Argentina to America, politicians are taking aim