ObamaCare and the US Court System

The New York Times: Reports on the recent defeat in Federal Court of aspects of ObamaCare, in essence the funding for ObamaCare, requiring US citizens to buy health insurance. Thus by 2012 a Presidential Election year the Obama White House will have the Bush 43 tax cuts and ObamaCare as major hurdles to fight. The extension of the Bush 43 tax cuts ends in 2012, will Obama really run on tax hikes in a bad economy, also ObamaCare should have reached the US Supreme Court by then, what if the 5 Conservative Justices throw out ObamaCare, the only thing in the Obama domestic locker will be the tax cuts, does not leave a lot of options. It can be argued that Obama has started his route to re-election in 2012 or that he has created events that will define him as one term President, long road ahead folks.

49% Job Disapproval for Obama - Gallup

Gallup: Reports that President Obama’s job disapproval rating is at 49%, while 45% approve of President Obama’s job performance. It really takes something when your giving the US voter a major tax cut to end up in negatives. This is down to the first reaction of President Obama, he in essence called the Republicans terrorists, he stated they were hostage takers via the Middle Class tax cuts. Thus when you are giving the voter something they want and you tell them they are taking presents from terrorists their reaction will not be great. Also Obama was critical of Democrats, well if you going to annoy both your base and your opposition you get what you deserve in the polls. The Bush 43 tax cuts are now the Obama tax cuts, he better get use to that fact or he will be a one term failed President. Also if the US Courts throw out ObamaCare the Bush tax cuts might be the only thing Obama has on the domestic front, Obama better start liking tax cuts or its Jimmy Carter time all over again for the Democrats.

Spain on the Brink? = Bond Market on Spain

Telegraph: Reports that the cost of funding the debt of Spain has gone up, there are calls from the European Central Bank for there to be a bigger bail out fund. If Spain goes the Euro goes, it is that simple, even the Germans have their limits, they cant not afford to bailout Spain and Portugal, one can argue that there will be a major crisis for these countries next year, thus the bond market should insure its position by charging higher costs for keeping Spain and Portugal afloat, the fat lady will sing one day, and there will be no tips to pay her.

Tuition Fees Vote - House of Lords

BBC News: Reports on the tuition fees vote in the House of Lords tonight, the Coalition Government expects to win the vote in Lords. This is the final hurdle folks, once the Bill is passed by the Lords its goes for Royal Assent, then the Coalition Government can deal with the real problems faced by the UK, in other words the Debt left by the last Labour Government.

The Death of Richard Holbrooke

White House: Has a statement on the death of Richard Holbrooke, President Obama’s Special Representative for Afghanistan and Pakistan. This blog was sad to hear of the death of Ambassador Holbrooke, one has to say he was the best Secretary of State US never had, he was a force of nature when it came to US interests, the high point of his career must have been his drive to bring peace to Bosnia, President Obama stated the following on this event, “ As Assistant Secretary of State for European and Canadian Affairs, he was the tireless chief architect of the Dayton Accords that ended the war in Bosnia 15 years ago this week, saving countless lives. ” US Diplomacy in Afghanistan and Pakistan will suffer due to his loss.