Since the passage of the Healthcare Bill, couldn’t help but notice a plethora of bills and events going through DC, once the logjam that was the healthcare bill, bills on reforming financial regulations, a proposal for allowing gays in the military, confirmation of a Mr Liu for a federal judgeship, were all on the agenda for the week. Greece and Portugal weigh on the Euro, hence a stronger USD, and a mild down day on the equities market, March 24, 2010. As for the military, I am concerned about getting taxed for the Healthcare bill, in addition to paying for the current insurance that we have.
On mainstreet, I heard Limbaugh’s interview with an Insurance rep describe how she was updating her resume due to payout requirements for insurance companies going to 85% instead of what was the industry standard of 65%. The other highlight for reading was an IBD editorial regarding how employers will have to pay up for spouses who get fired from their other job. The quote in question comes from a Heritage Foundation report.
First, employers would be faced with a $3,000 annual penalty for hiring a single parent—and are therefore likely to not hire such an individual. Likewise, if one company lays off an employee with a working spouse, that could generate a $3,000 tax penalty for the other spouse’s employer—unless the other employer lays off the other spouse as well.
On CNBC towards the closing bell on the 24th of March 2010, a bond trader described how the healthcare bill was starting to sink in, and how that would equate to large trillion dollar deficits and much higher rates on the longer ends. I started the day with hearing Rep Levin talk about punishing China for manipulating their currency to keep it weak. So a coincidence that CNBC ran a headline that the bond auction was weak today a coincidence? What movie characters said, “You think,”? Is that N. Dakota senator who was arguing for the deficit reducing qualities of this bill listening, Hm- LOL.
Partisanship– bring it on!!!!!!!!!!!!! No more token 15B $ jobs bills, tax cuts now for all. repeal the healthcare debacle.