And the looming combination of tax increases and spending cuts looks easily large enough to push America back into recession.
Prime Minister José Sócrates, a Socialist, will rely on tax increases and cuts in public-sector wages and corporate subsidies.
Last June, the IPCC Fifth Assessment report warned of larger "near-term increases in seasonal mean and annual mean temperatures" in the region.
He may be poorer but wiser: research in recent years from both Harvard and the University of British Columbia shows that giving away money to others increases happiness.
It also should be positive for sentiment because it would allow investors to focus on the Indian operations where the news around price increases has been encouraging.
As a result, producers increase output and employ more people so that employment increases.
In this view, those with the broadest shoulders take the pain while those on benefits don't enjoy increases higher than pay rises for those in work.
"These increases are a heavy burden on our constituents," added Phil Gingrey of Georgia, who pressed Sebelius for more detail on how those facing financial hardship will avoid government penalties for failing to sign up.
(Told you it was complicated; essentially, pensions, benefits and tax credits now use a lower measure of inflation to calculate their annual increases).
The excise increase had been scheduled to take effect from 1 August, and will now occur on 10 November, with further inflation-linked increases on 1 February and 1 August 2015.
He caused anger among welfare campaigners by scrapping an increase in child tax credits that will result in an additional 100,000 children dropping below the government's poverty line, and was accused of provoking unions by setting a two-year 1% ceiling on public sector pay increases – well below the current inflation rate.
