How to make it, spend it, and invest it

4 May 2017

Take 64

Post by MoneyRadio Staff

…..House of Reps votes to repeal and replace Obamacare, it’s the Senate’s problem now. Bad day for oil. And metals. Earnings roll on. Viacom beats but more homes cut the cable. CBS beats. Kelloggs double good. Shake Shack sinks. Cities can sue big banks for predatory lending. Financial Review by Sinclair Noe for 05-04-2017 DOW – 6 = 20,951 SPX + 1 = 2389 NAS + 2 = 6075 RUT – .02 = 1388 10 Y + .05 = 2.36% OIL – 2.31 = 45.51 GOLD – 9.70 = 1229.00   The House of Representatives narrowly approved a bill to repeal Obamacare. More specifically the House passed the American Health Care Act, which scraps the Obamacare mandates that people buy health insurance and that employers provide it, eliminates most of its tax increases, cuts nearly $900 billion from Medicaid while curtailing the program’s expansion, and allows states to seek a waiver exempting them from the current law’s crucial prohibition against insurers charging higher premiums to people with pre-existing conditions. The party line vote was 217-213 with 20 Republicans voting against the bill.   Conservatives complained that the bill did not fully repeal the 2010 law, while moderates blanched at its cuts to Medicaid and its weakening of its most popular consumer protections. Hardliners in the House Freedom Caucus, who had denounced the original version of the bill as “Obamacare-lite,”  dropped their opposition  after securing an amendment allowing states to opt out of key insurance mandates. Moderates and even some leadership loyalists balked, …

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