Beneath the Headline number, this is not a good report. Real wages have been declining. Add in increases in state taxes and the average Joe has been hammered pretty badly. For 2013, one needs to factor in the increase in payroll taxes for Social Security.
In a feudal as well as futile attempt to keep wealthy French citizens from leaving the country, France hikes the "Exit Tax" on transfers of wealth to outside of France. They also lower the base and increase the number of things on which the tax applies.
Unlike Vallejo, California, it is highly likely Detroit will actually shed pension obligations in the first go-around. A mere 25% of students graduate from high school. Can Detroit schools get any worse?
At long last, beleaguered taxpayers will not have to put up with nonsense from public unions about the sanctity of pensions.
Whenever Wal-Mart opens up a store it gets tens of thousands of applicants for a couple hundred openings. People want the jobs. Here's the deal. If you don't like the job, then don't take it.
Work "really well" for who? If Plouffe means the average (and shrinking) middle-class worker, he is out of his mind.
In an ongoing trend, unrelated to Obamacare, companies have been passing on more and more healthcare costs to employees. However, an ACA gotcha has impacted the way costs are passed on, with families taking a bigger hit than individuals at many companies.
The employment and pay situation in Spain is so bad that 33% struggle to pay their bills. More importantly, 25% would consider leaving the country for better opportunities.
Every month (on average), for about a year, there has been a startling discrepancy between employment as measured by the household survey and jobs as reported by the establishment survey. I believe the discrepancy is yet another Obamacare artifact.
In the wake of all the misguided pleas for negative interest rates in Europe (hoping to get banks to lend), comes news US banks warn Fed interest cut could force them to charge depositors.
The number of French business bankruptcies hit a record in the third quarter of 2013 and the yearly total is on a pace that will come close to the total reached in the dark days of the great financial collapse in 2009.
Regardless of what happened, politically speaking, Obamacare came at a last-chance now-or-never point with public opinion split nearly 50-50. For now, it's waiting time. The next presidential election will determine what major changes in healthcare are coming.
Imagine being arrested for circulating a petition asking Obama to resign. Is it that far-fetched?
For someone with little money or assets, why not take the chance? Bankruptcy is always an option. Ultimately, this line of thinking may cause millions to opt out. And it is not just the young who will opt out.
As an interesting footnote, unions were the biggest Obamacare proponents, but now they too are upset with it. Well, Obama to the rescue ...
The idea behind Obamacare is to make the young and the healthy overpay for insurance to subsidize everyone else. In an effort to persuade individuals to purchase insurance, the law provides a scale of escalating penalties starting in 2014 and increasing in 2015, then again in 2016.
Except for public union workers with pensions that ultimately will not be met, retirement age for most keeps inching up. People need to work longer or go back to work after a few years of retirement because they have insufficient savings.
It is quite amazing as to what state and federal officials tout as Obamacare "success" stories. For example, in the state of Washington, of the 57,730 who have signed up, a whopping 51,368 were for "free" Medicaid services.
In spite of massive hikes in taxes on the wealthy and an increase in the VAT and other taxes revenue estimates missed their targets badly.
How many people could Kenya have hired for $50 million? Wouldn't that have done more for the elephants than crushing it?
(An important interview) Saving the Net from the surveillance state (And Crony Media): Glenn Greenwald speaks up (Q&A) | Nick Sorrentino