Jeff Pelline's Sierra Foothills Report

“President Obama will call for shrinking the nation’s long-term deficits by raising taxes on wealthier Americans and requiring them to pay more into Social Security, drawing a barbed contrast with a Republican plan to save money by deeply slashing Medicare, Medicaid and other domestic spending.

“Obama will offer some spending cuts, including trims to the Pentagon’s budget, but his speech Wednesday is likely to provide Americans with a vivid choice between higher taxes or fewer benefits, issues that will color the national debate straight through the 2012 election.

“The debate has little middle ground and poses substantial political risk for both sides.”

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“The Japanese government raised its assessment of the monthlong crisis at its Fukushima Daiichi nuclear power plant to the highest severity level by international standards—a rating only conferred so far upon the Chernobyl accident,” according to The Wall Street Journal.

“Japan’s nuclear regulators said the plant has likely released so much radiation into the environment that it must boost the accident’s severity rating on the International Nuclear Event scale to a 7 from 5 currently. That is the same level reached by the Chernobyl nuclear disaster in the former Soviet Union, which struck almost exactly 25 years ago, on April 26, 1986.

“Based on the cumulative data we’ve gathered, we can finally give an estimate of total radioactive materials emitted,” Hidehiko Nishiyama, spokesman for Japan’s Nuclear and Industrial Safety Agency, said at a press conference Tuesday.”

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