Over one-third of the 9.1 million full-time jobs among America’s diverse business franchises could be cut back or eliminated by Obamacare as small businesses struggle to maintain profitability while coughing up money to pay for Washington-mandated health care coverage, according to the International Franchise Association.
The threat of hitting 3.2 million full-time workers as the Affordable Care Act takes effect next year is prompting the owners of fast food restaurants, service companies and other franchises to urge Congress to make significant changes in Obamacare.
To help their cause, the association on Friday released a new state-by-state breakdown on the potential impact on jobs in the bull’s eye of Obamacare, which declares that a 30-hour week is full-time, not the industry accepted 40 hours. That 10-hour difference has thousands of franchise owners scrambling to either fund healthcare for those working 30 hours, or cut hours back to below 30 hours.
The Walking Debt
With no deal in sight to curb our growing national debt, America is going broke. So what do our representatives inCongress plan to do about it? Take a two-week break. Are they trying to see whether their abysmal 13% approval rating can sink any lower?
I get it. Spring break shouldn’t just be for students. Adults work hard too. But usually, a “break” follows a period of “work.” And not much can be said of the 113th Congress’ accomplishments so far.
Indeed, it has been more than two years since the president’s bipartisan fiscal commission declared a so-called moment of truth: “We cannot play games or put off hard choices any longer.” Yet that is exactly what Washington has done and continues to do.
It kicked the can down the road after the fiscal commission made its recommendations in 2010. Then, in 2011, when the nation came to the brink of defaulting on its obligations over battles about raising the debt ceiling, President Obama and Speaker John A. Boehner (R-Ohio) struck a narrow deal on spending cuts but punted the tough budget choices to a congressional committee.
Recent events in Cyprus show just how far banks and governments may be willing to go to justify their policies — and at whose expense.
Here it is (in dollars to simplify): If a Cypriot put $1,000 in an island bank four years ago and left it there, today the saver would have a balance of $1,250. Take 10 percent off, and the saver is still up $125.
If a US middle-class family put $1,000 in JPMorgan or Citibank four years ago, the balance today would be $1,010 — less bank fees, which means it’s probably closer to a $950 balance. That’s $9.3 trillion in US deposits getting nothing in return except the warm, fuzzy feeling of bolstering the banks’ balance sheets.
This does not excuse the ECB action, but it puts into context what Ben Bernanke’s Zero Interest Rate Policy (ZIRP) has done for Americans. The Fed chief or the Obama administration would never be as blunt as their EU counterparts and call it a tax, but if Uncle Sam — through his policies — is reaching into the pockets of Americans . . . it’s a tax.
I Moved my Money Out of the Stock Market-Laurence Kotlikoff – This one is a must watch!
In January, Economist Dr. Laurence Kotlikoff said he was “worried” that the economy was reaching “a real threatening point.” The Cyprus banking crisis hit the Globe last week. Now, when asked if he was still “worried,” he replied, “This morning, I moved my money out of the stock market . . . because I’m worried about Cyprus.” Dr. Kotlikoff explained his dire concern by saying, “The rich people are already running on these banks. That’s been going on for a year. . . . The everyday working people could start visibly running on these banks, and that could spread like wildfire throughout Southern Europe and Northern Europe and into the U.S. because we have a banking system that’s built to fail.” Dr. Kotlikoff also says, “It’s going to happen in the form of a crash in the bond market. Interest rates are going to skyrocket, and we’re probably going to have high inflation because the government is printing money out the wazoo.”
Biting Elbows – ‘Bad Motherfucker’ (Insane Office Escape 2)– WoW a must watch video…