Interesting analysis from Major Garrett on hardball earlier. He said the house bill called the consequence of not having health insurance a tax but the Senate wanted to call it a penalty and the White House made a political decision to go with the Senate language. That is what made it fall afoul of the constitution. If they had called it a tax they should have been ok because congress has the authority to tax.
By Cheyenne Hopkins
March 27, 2012 11:26 AM EDT
Federal Reserve Bank of New York President William Dudley said that the central bank holds a very small amount of European sovereign debt and that he sees a high bar to additional purchases.
The standard for buying more European sovereign debt is extraordinarily high for the U.S., for the Federal Reserve, to actually go out and buy foreign sovereign debt for its own portfolio, apart from the very small foreign exchange holdings that we have, Dudley said today to a House Financial Services subcommittee hearing.
"The Health and Human Services Department said student health plans will be treated like employees plans, meaning they will have to comply with new requirements under healthcare reform including the requirement to provide contraception without charging a copay."
So why don't they require no co-pays for more important drugs that keep people alive?
From Sept 2011 but still relevant I imagine.
NEW YORK (Reuters) - Insatiable demand for safe haven U.S. government bonds is helping mask a potentially huge financial problem -- the need to extend the maturity of debt issued by the United States.
The United States has the least balanced maturity schedule of any major nation. Over 70 percent of its bonds mature within 5 years, compared with an average 49 percent for the 34 member countries in the OECD.
This leaves the country extremely vulnerable to any shift in investor sentiment at a time when its debt load has almost doubled in four years.
Marketable U.S. debt has risen to over $9 trillion, from around $5 trillion in late 2007, before the government increased spending to bail out struggling financial companies.
If sentiment were to shift quickly, it could send the cost of refinancing the country's bonds sharply higher. This would, in turn, eat into its budget and ability to meet long term obligations.
"We haven't really dealt with the underlying causes of the crisis," Mr. Hyman says.
And the most basic cause is this: "Consumer debt has crowded out business debt. GE Capital can make more money issuing credit cards to consumers than it can loaning money to businesses."
Indeed, the interest rates charged for many consumer loans used to be prosecuted as criminal offenses. Banks bought off the lawmakers and became loan sharks with risk-management models singling out borrowers they know can't repayruining them and everyone around them as their subprime debts choke the economy.
Mr. Hyman argues our economy will never be fixed until government policy encourages credit to flow more freely to those who produce and less freely to those who consume.
If capital is invested in businesses that can create decent-paying jobs, then maybe people won't need so much credit to buy the things they consume.
Then this wouldn't be a health care debate and everyone would have access.
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