"My name is Jasmine and I support President Obama's move to give affordable auto insurance for everyone."
Following the passage of the Crominbus on Thursday night in a last minute "nailbiter" when the Federal spending bill got just one vote more than the required majority, it was off to the Senate. And late last night, proving that the Senate can work on weekends when a piece of Citigroup-penned legislation is on the table, in a 56-40 vote (21 democrats, 18 republicans, 1 independent voting No), the Senate joined the House in voting itself $1.1 trillion for the next 9 months, with the bill now heading for the final signature: Obama's. There is some argument whether the executive will join the legislative in confirming the US government is now (and always has been) merely a pupet of Wall Street, although we expect all it will take Jamie Dimon is just one more phone call of "encouragement" to Obama to make sure Wall Street's will is done in the White House.
Curious what to expect out of today's 600-page mega dump by the Senate Intelligence Committee revealing US torture techniques and practices, aka the "torture report"? The the following explainer by the Intercept's Glenn Greenwald should provide some useful pointers.
With friends like this, who needs Republicans. President Obama may be turning over in his golf cart this Thanksgiving weekend as no lessor Democrat than Chuck "get back to work, Mr. Chairman" Schumer said Tuesday night that Democrats acted wrongly in using their new mandate after the 2008 election to focus on the issue rather than the economy at the height of a terrible recession. As National Journal reports, Schumer exclaimed, we "blew the opportunity the American people gave [us]." Little late to distance yourself from this cluster-tax chucky boy...
As Hilary Clinton starts to ponder the curtains she wants to hang in the Oval Office, there is only one person who can realistically stand in her way: Rand Paul.
"Attached is the ACA notification of next year's price increase. As you can see the cost goes from $281 to $555, a monthly increase of $274, a percentage increase of 97%. Basically we are now paying the same amount for the two of us that we paid for all four of us one year ago. How can that increase occur in a "free market" economy? Did I miss something? Has some input cost leaped exponentially in order to double the price I pay? Or has private industry colluded with government to rig the markets (again) in their favor?"
Confused at just what Jonathan Gruber, friend (or not friend) of President Obama and Nancy Pelosi, said (and didn't say)? Here is the two-minute idiot's guide to the Obamacare architect (or not Obamacare architect)'s controversial comments (and just who did and did not know him)...
"Barack Obama's not a stupid man, okay?" Gruber notes, adding that those pushing the bill took part in an "exploitation of the lack of economic understanding of the American voter," taking advantage of voters' "stupidity" to create a law that would ultimately be good for them. "If you made it explicit that healthy people pay in and sick people get money, it would not have passed, OK?"
There Might Be Some Truth to China's Accusation that the U.S. is Doing Its Best to Stir Up Hong Kong
What has happened to America?
We can hear the narrative now... how can Congress turn down President Obama's demands for $5 billion to pay for a 'counter-terrorism' fund that could be used to support operations against Islamic State targets in Iraq and Syria... if they do, are they not supporting terrorism? As The Hill reports, White House press secretary Josh Earnest floated the $5 billion counterterrorism fund as something that “would strengthen the hand of this president and future presidents for dealing with urgent situations like this." We await Wednesday night's unveiling of the long-awaited strategy...
Since the inception of Obamacare, Humana up more than 440% because just as cereal manufacturers decrease their costs by putting less cereal in the same box, health insurers have raised the deductibles and co-insurance.
President Obama has once again proved his irrelevance and uselessness by failing to say anything meaningful on the disturbing events of the past week. In fact, he only decided to address it personally and publicly yesterday after being heavily criticized for issuing a press release about the party he attended in Martha’s Vineyard as civilians in Missouri clashed with a paramilitary police force. Despite Obama’s complete apathy, there are some Congressmen forcefully speaking out against the trend from “both sides” of the increasingly meaningless Republican and Democrat divide. The most noteworthy thus far appears to be Democrat Rep. Hank Johnson of Georgia’s 4th Congressional district. In fact, he has sent a Dear Colleague letter to fellow representatives of his intention to introduce the Stop Militarizing Law Enforcement Act in September when Congress returns from recess.
Corporate "inversion" transactions already looked like a potential catalyst for tax reform over the medium term, but an uptick in deal activity seems to have increased the probability of near-term policy activity as well. Goldman's expectation is that such changes might be announced shortly after Congress recesses for the election in early October. Overall, it appears unlikely that Congress or the Treasury will make changes this year that eliminate the tax benefits of inversion, but the probability of incremental changes has increased.
“Economics is haunted by more fallacies than any other study known to man.” – Henry Hazlitt, Economics In One Lesson. The great Henry Hazlitt’s wise words came to mind while reading a recent New York Times post by George Mason economist Tyler Cowen who strangely observed that “The world just hasn’t had that much warfare lately, at least not by historical standards,” and “Counterintuitive though it may sound, the greater peacefulness of the world may make the attainment of higher rates of economic growth less urgent and thus less likely.” As Forbes' John Tamny lambasts, "They’re ultimately only words, but Cowen’s about war theoretically boosting animal spirits are pretty disturbing ones..."