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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Republicans’ Health Arithmetic
The number of Americans without health insurance would grow by 24 million over the next decade under a House Republican proposal to replace most of the Affordable Care Act, according to a nonpartisan report that is likely to complicate GOP lawmakers’ efforts to unite around the plan. The Congressional Budget Office projections were disputed by the bill’s backers, but rattled some centrist Senate Republicans who have said they won’t support legislation that leaves a large number of people without coverage. President Trump campaigned on a pledge to cover all Americans. The CBO also projected the legislation would reduce the federal deficit by $337 billion over the next decade and initially cause premiums to be higher than under current law, though by 2026 they would be lower. See how the House GOP plan compares to the ACA here.


Autonomous Autos
Chip maker Intel has agreed to buy Israeli car-camera pioneer Mobileye for $15.3 billion—one of its biggest acquisitions ever—in the latest Silicon Valley bet on a vision of cars as turbocharged computers on wheels. The purchase would give Intel a widely used technology in the rapidly emerging business of computer-assisted driving, as well as Mobileye’s customer relationships with auto makers including GM, Volkswagen and Honda. Having largely missed the smartphone revolution, Intel is paying 62 times forward earnings—all its offshore cash and then some—to join the accelerating autonomous-vehicle race, which has sparked bidding wars for companies that specialize in self-driving gear or software.
Air War
We report that Mr. Trump has given the CIA secret authority to conduct drone strikes against suspected terrorists, changing the Obama administration’s policy of limiting the spy agency’s paramilitary role—and reopening a CIA-Pentagon turf war. The new authority, not previously disclosed, represents a significant departure from the practice that had become standard by the end of former President Barack Obama’s tenure: The CIA used drones and other intelligence resources to locate suspected terrorists but left the actual strikes to the military. The agency first used its new authority in late February on a senior al Qaeda leader in Syria, U.S. officials said.
Snowed Under
“I’m busy” has long been code for “I’m feeling overwhelmed” or “life is chaotic.” Yes, we’re legitimately busy, working more than ever, both in and out of the office, writes our Bonds columnist Elizabeth Bernstein, but most of us aren’t truly too busy to make time for our loved ones—yet that is the impression we give. We brag about being busy, wrongly seeing it as the opposite of lazy, and use it as an excuse when we drop the ball or simply don’t want to be bothered. So what to do? Banish the word, says one marriage and family therapist. Schedule less, knowing that something will always pop up. And drop the shame.
March Madness Gets Trumped
That Was Painless
President Trump may be snubbing the NCAA bracket challenge this year, but that didn’t stop the star-studded March Madness broadcast team from talking about wiretapping locker rooms, repealing and replacing basketball rules and “Making March Mad Again.”

White House Back-Pedals on Claim Obama Wiretapped Trump’s Phones

Bomb Threats Reshape Jewish Centers

U.K. Parliament Clears Way to Brexit

South Korean Prosecutors to Question Former President Park Geun-hye

AstraZeneca Gives Rejected Drugs a Second Life

One Lawyer, 6,905 Hours Leads to $1.5 Million Bill in Sprint Suit

U.S. 10-Year Bond Yield Closes at Highest Since September 2014

Demanding and Direct: HSBC’s New Chairman Mark Tucker
$4 billion
The approximate loss William Ackman’s Pershing Square Capital Management took when it sold its stake in drugmaker Valeant Pharmaceuticals International, bringing a tortured saga to a close.
The decentralization of corruption is a big downside of democratization…Governors use the opacity of state spending to funnel money into their pockets and to pay for elections.
Denise Dresser, a Mexican political analyst, on how the dispersal of political authority to Mexican states makes them vulnerable to graft, a phenomenon demonstrated by one governor’s sudden disappearance, leaving a $2.5 billion hole.
Returning to our story above, what are your thoughts on the CBO report? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to yesterday’s question on pension-risk transfer, Augusta Era Golian of Texas said: “Some companies have made inflation adjustments to their pensioners to keep them whole, even though not legally required. It’s doubtful that insurance companies will do so—increasing pressure on retirees just as the federal government seems to be thinning the safety net.” Bill Sanders of Colorado wrote: “There are basically three factors in pricing the liability (cost) of a pension-risk transfer: expenses, mortality and investment return. In assuming this liability, the winning insurance company is projecting these factors decades into the future. Better make sure the insurance company is solid and will be around to make these pension payments.” And Jerome Schmid of South Carolina commented: “Sad to see defined-benefit plans slip away into history. But employers no longer care about employee welfare (despite volumes of acclamations in various mission statements), as once-paternalistic corporations have been reduced to financial schemes, manipulated like exotic derivative securities. It is probably a very good idea to turn over the plans to insurance companies who are staffed with people who are (thought to be) competent risk managers, and who are far more likely be around 10 years from now.”

This daily briefing is named “The 10-Point” after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary “What's News” digest of top stories. Technically, “10-point” referred to the size of the typeface. The type is smaller now but the name lives on.

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