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Report: Largest Corporations Responsible for $2.2T in Environmental Damage

A newly revealed United Nations study estimates the world’s 3,000 largest corporations are responsible for over $2.2 trillion in environmental damage. The unpublished report was conducted by the Principles for Responsible Investment Initiative and the United Nations Environment Programme. The study says the companies would have to divert one-third of their profits to pay for the environmental damage they’ve caused.

Admin to Seek Senate Ratification of Test Ban Treaty

The Obama administration has announced it will seek Senate ratification of the Comprehensive Nuclear Test Ban Treaty, or CTBT. Speaking at the National Defense University Thursday, Vice President Joe Biden said the US remains committed to banning atomic weapons, but added the US will continue to modernize its arsenal until it’s assured all nuclear-armed states are on board. The administration has committed over $7 billion in spending on its nuclear arms sites. In a statement, Paul Kawika Martin of the group Peace Action praised the backing of the CTBT, but added, “Instead of spending $7 billion on facilities to upgrade nuclear weapons, that money would be more wisely spent on increasing the rate of dismantling the US stockpile. Fewer nuclear weapons makes Americans safer and sends the right message to the rest of the world.” Biden, meanwhile, also said disarmament would be made easier by increased spending on a so-called missile defense shield.

Study: Highest Medicaid Enrollment in Decades

In other healthcare news, newly released figures show the recession has led more Americans to enroll in Medicaid than at any point since its establishment over forty years ago. According to the Kaiser Family Foundation, more than three million people signed up for Medicaid in the year ending last June, increasing enrollment 7.5 percent to a record 46.8 million. Thirteen states reported double-digit increases. As enrollment has ballooned, states across the country have tried to cut benefits to keep up with budget constraints. The Kaiser study says twenty-nine states are considering further reductions or have already made them since the current fiscal year began.

Admin Criticizes Insurer Profits, Rising Premiums

The Obama administration, meanwhile, has issued a new report criticizing insurers for increasing the cost of medical care while pulling in record profits. On Thursday, Health and Human Services Secretary Kathleen Sebelius discussed the rising costs of insurance premiums across the United States.

HHS Secretary Kathleen Sebelius: “In this last year alone, the largest insurance company in Michigan requested a 56 percent rate hike. In Connecticut, it was 24 percent. In Oregon, we saw a 20 percent rate hike being requested. Maine, it was 18.5 percent last year, which was actually denied, and this year they’ve come back and asked for a 23 percent rate hike. And most recently, which has gotten a lot of attention, is the WellPoint Anthem request for a 39 percent rate hike, which would affect 800,000 of their individual market customers.”

Sebelius went on to contrast the increasing costs with record insurance industry profits last year.

US Reaches $1.25B Settlement with Black Farmers

The Obama administration has reached a $1.25 billion settlement in a class-action lawsuit over longtime racial discrimination against African American farmers. The government settled a first round of claims in 1999 after a group of farmers accused the Agricultural Department of systemically denying them aid and loans granted to white counterparts. The discriminatory policy forced farmers to lose their land or plunged them deeply into debt. The new settlement would cover farmers denied payments under the initial settlement. The deal now awaits congressional approval. John Boyd, a lead plaintiff and head of the National Black Farmers Association, said he agreed to the $1.25 billion settlement despite viewing it as insufficient. Boyd said, ’’Many of the farmers have already died waiting for justice, so I thought this was the right thing to do."

Kerik Sentenced to 4-Year Term

And former New York City Police Commissioner Bernard Kerik has been sentenced to four years in prison. Kerik pleaded guilty in November to lying to the White House when he was nominated to head the Department of Homeland Security. He also admitted to tax evasion and receiving renovations from a construction firm linked to organized crime. Kerik will remain under house arrest until he begins his sentence in May.