The U.S. Supreme Court ruling came as welcome news for some, and not quite so for others. In layman terms, according to the Supreme Court, “Obamacare” did not violate the constitution by legislating that people buy healthcare insurance, or else pay a penalty. Starting in 2016, this penalty will be up to $695 or 2.5 percent of income, whichever is greater. In case of employers with more than 50 full-time employees, the employers must provide health insurance or pay a penalty ($2,000 per employee). Read more »
June 29, 2012
Europe summit surprises with bold moves. After 18 disappointing summits since the start of the debt crisis, Europe’s leaders appeared on Friday to have finally come up with quick fixes and long-term plans that show they are serious about restoring confidence in their currency union.
The leaders of the 17 countries that use the euro agreed to:
-Pump money from two European bailout funds directly into troubled European banks later this year, rather than make loans to governments to bail out the banks. The move rescues banks without putting strapped countries deeper in debt. Read more »