Prizes, not patents. That could be the slogan for a radical idea that leading economists say would lower the price of new drugs for treating HIV/AIDS. Treating AIDS costs tens of thousands of dollars per patient annually in the United States, and more and more patients are unable to afford the life-saving drugs, according to figures from the AIDS Drug Assistance Program. The waiting list for the program, which is jointly funded by federal and state governments and provides medicines to low-income patients, now stands at 2,759, up from 361 in 2010.  Read full article > >

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‘Radical’ bill seeks to reduce cost of AIDS drugs by awarding prizes instead of patents

WASHINGTON — Americans bought slightly more new homes in November, but 2011 will likely end up as the worst year for sales in history. The Commerce Department says new-home sales rose 1.6 percent last month to a seasonally adjusted annual rate of 315,000. That’s less than half the 700,000 new homes that economists say should be sold to sustain a healthy housing market. Read full article > >

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New-home sales up 1.6 percent in November, but 2011 will likely be worst year on record

Republicans are standing by vows to slash spending immediately even as economists say cuts could further strain the economy.

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G.O.P. Lists Sweeping Goals, but Impact Is Uncertain