Friday, June 10, 2011

Barack Obama - #2975 - Obama's Missile Secrets Betrayal (2) Obamacare Will Push Employers to End Health Coverage - Hot Air (3) Americans' Equity in Their Homes Near a Record Low - My Way (4) Weekly Jobless Claims 'Unexpectedly" Rise Again?

"... Congress discovered that the administration has been working on a missile defense agreement with the Russians and that Moscow had requested that the United States share with it loads of sensitive U.S. missile defense technology and operational authority as part of that deal. In the administration's eagerness to please the Kremlin, it may just oblige.  "The House of Representatives has given a firm "no" to that prospect through its decision to ignore Obama's veto threat and approve the defense appropriations bill by a veto-proof vote of 322 to 96. The Senate may act similarly. On April 14, 39 Republican senators sent a letter to the president expressing their concern over the administration's consideration of granting to the Russians sensitive U.S. technology and "red button" authority to prevent the interception of incoming missiles headed for U.S. troops or allies. This would allow Russia to deny the United States the ability to intercept a missile Washington had determined to be a threat."

Study: Obamacare Will Push Employers to End Health Coverage - Hot Air - Since the beginning of the debate over health-care reform, opponents of ObamaCare warned against the unintended consequences of setting up a mandate-and-subsidy system in place of the more free-market approach applied by existing state legislation. If the federal government provided subsidies in the form of refundable tax credits to the middle class to pay for health insurance, businesses burdened by expensive coverage costs would take the opportunity to exit the current model, throwing tens of millions onto what essentially amounts to government welfare rolls. Supporters claimed that businesses would ignore the clear cost benefit of abandoning insurance out of a sense of labor competition, and the administration’s cost estimates for the first ten years were predicated on a low rate of retreat.  According to a new study, the Democrats have guessed wrong — and that could cause subsidy costs to be tripled over initial estimates:  The more a company knows about coming changes to the nation’s health care laws, the more likely it is to consider radically restructuring the way it provides insurance to employees, according to a study by the consulting firm McKinsey and Co. The study, which is being circulated among Republicans, predicts that as many as 30 percent of companies will stop offering health insurance benefits, reduce the level of benefits, or offer benefits only to certain employees.   Read more........



Americans' Equity in Their Homes Near a Record Low - My Way -  Falling real estate prices are eating away at home equity. The percentage of their homes that Americans own is near its lowest point since World War II, the Federal Reserve said Thursday. The average homeowner now has 38 percent equity, down from 61 percent a decade ago.  The latest bleak snapshot of the housing market came as mortgage rates hit a new a low for the year, falling below 4.5 percent for a 30-year fixed loan. But even alluring rates have failed to deliver any lift to the depressed housing industry.  The Fed report is based on data from the first quarter of this year. Another report last week found that home prices in big cities have fallen to 2002 levels.  Normally, home equity rises as you pay off the mortgage. But home values have fallen dramatically since the bubble in prices burst in 2006. So many homeowners are losing equity even though the outstanding balance on the loan is getting smaller.  Read more.......

Weekly Jobless Claims 'Unexpectedly' Rise Again - Hot Air - For the eighth week in a row, the number of initial jobless claims remained in the 420K range, according to the Department of Labor’s report today. Last week saw a slight increase of just 1,000 to the number of new claims from the previous week, which got revised upward by 4,000 from the previous week’s initial report: In the week ending June 4, the advance figure for seasonally adjusted initial claims was 427,000, an increase of 1,000 from the previous week’s revised figure of 426,000. The 4-week moving average was 424,000, a decrease of 2,750 from the previous week’s revised average of 426,750. Read more.........

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