CBO Expects Health Spending to Double – The Hill

The Congressional Budget Office said Tuesday it expects the cost of government healthcare programs to more than double over the next decade. CBO predicts federal spending on Medicare, Medicaid, and other healthcare programs will reach 7% of the entire U.S. economy by 2022, climbing to $1.8 trillion. CBO expects Medicare spending to rise 90% between now and 2022, and that number is based on the assumption Congress will sign off on Medicare cuts and then like in the past, prevent them.

Small Business Borrowing at 4-Year High in December - Reuters

Borrowing by U.S. small businesses rose 19% in December, the 17^th consecutive double-digit rise, according to the Thomson Reuters/PayNet Small Business Lending Index. The index, which measures the overall volume of financing to U.S. small businesses, showed December at the highest level of borrowing in more than four years, continuing to show signs of growth in the small business sector. In November 2007, the last time the index was this high, the subprime mortgage bubble was bursting.

Small Business Share of Economy, Job Growth Shrinks – Businessweek

Small companies’ contribution to America’s total economic activity and job growth has dropped significantly in the last decade, according to the SBA’s Office of Advocacy. Although small businesses are often hailed as job creators, over the last three quarters in 2010, they were only responsible for just over half of net new jobs, compared to two-thirds in earlier periods. The report notes that corporate profits rebounded faster than other business income after the 2001 recession, mostly from the construction industry taking a hit from the housing collapse.

A Push for 'Smart Regulations' – Sen. Rob Portman (R-OH) via POLITICO

While Senator Rob Portman (R-OH) supports the White House’s effort eliminate inefficient regulations, he also recognizes the need to look toward structural reform of how the most expensive new rules are written. In Portman's Regulatory Accountability Act, introduced with Sen. Susan Collins (R-ME), he focuses on setting the stage for lower cost rules, greater transparency, and a smarter regulatory environment for job creation and investment.

Obama Risks Trade War with China – The Washington Times

President Obama indicated in last week’s State of the Union address that he is willing to risk a trade war with China, contradicting another statement that he “will go anywhere in the world to open new markets for American products.” In an opinion piece, Dean Kleckner, chair of Truth About Trade & Technology, examines Obama’s recent “campaign-mode” announcements about creating a trade enforcement unit that will investigate unfair trading practices. Kleckner recognizes the genuine issues with China’s approach to intellectual property rights, but says Obama’s plan to start a trade war is not the answer, as it will increase prices on consumers, hurt export opportunities for businesses, and fail to achieve its main objectives.

In other news…

Republicans, Democrats Favor Tax Breaks to Win Back U.S. Jobs – Gallup

Facebook Set to File For $5 Billion IPO Wednesday: Report – TIME

House GOP Unveils 5-Year, $260 Transpo Bill – Transportation Nation

Obama Seeks 'On-Ramp' for More Startups to Go Public – Businessweek

Mitt Romney Wins Florida Primary – ABC News

If Mandate Dies, So Should PPACA – Sen. Mitch McConnell (R-KY) via POLITICO

Sen. Shelby Criticizes Consumer Bureau For 'Costly' Rules – Dow Jones

Obama Seeks to Extend, Expand Small-Business Tax Breaks - Businessweek

In Talks on Greek Bailout, Eyes Turn to Central Bank – The New York Times