The increase in payrolls was more than double what economists had forecast. Yet there were some troubling details in the delayed report. The post US Employers Added Surprisingly Solid 119, 000 Jobs In September appeared first on Arkansas Business Business News, Real Estate, Law, Construction.
Tag: federal government shutdown
‘Really really dumb’: Mark Cuban trashes GOP’s latest Obamacare replacement idea
Billionaire financier Mark Cuban has no kind words to say about Republicans’ newly circulated idea for how they could replace the Affordable Care Act. The plan, which started being circulated by President Donald Trump and his allies in Congress in the final days of the federal government shutdown as Democrats demanded an extension to ACA subsidies expiring for millions of people, was to take the money spent on subsidies and send it directly to American taxpayers to sock away in health savings accounts, or HSAs, to pay for treatment directly. But Cuban, who has himself pushed a drug sales company to try to disrupt the health care industry, panned the whole thing in a lengthy post to X on Friday. “This is dumb. Really dumb. Really Really Dumb,” wrote Cuban, who has clashed with Trump in the past. “Why? Because when you give it to Ins Carriers under the ACA, they have to spend at least 85pct of it on care for plan holders. When sent to people’s HSAs, there is no assurance that the money will be spent on healthcare costs at all. A recipient can save the money and take it out when they turn 65. MORE LIKELY, people will get that HSA cash, immediately take it out, pay the 20 pct penalty and buy whatever they want,” Cuban continued. “So your tax dollars could be throwing parties! Does this mean I like the subsidies going to the big insurance carriers? No,” he added. “It means there are better ways to do this. Whatever we do, taxpayer money HAS TO GO DIRECTLY TOWARDS PAYING or Guaranteeing NECESSARY MEDICAL CARE. Sending money to people’s HSAs is really dumb.”.
Bitcoin Falls Below $104,000—Here’s Why
The post Bitcoin Falls Below $104,000-Here’s Why appeared com. Topline Bitcoin prices dropped below $104,000 on Tuesday, headlining a broader decline for the crypto market over the last month as investors appeared to pull away from riskier assets while the Federal Reserve cautiously approaches interest rate cuts. The leading cryptocurrency has pared back historical gains in recent weeks. Getty Images Key Facts The price of bitcoin decreased 3. 78% over the last day to around $103,970, matching a low reached last month and nearing levels not seen since June, when the cryptocurrency last priced under $100,000. Bitcoin (down 10. 3%) has led a broader decline for crypto prices over the last seven days: Ethereum prices have dropped 16%, XRP fell 15. 2%, BNB is down 17. 5%, Solana has fallen 20. 5% and the meme token dogecoin has cut 20. 1%. Bitcoin topped out at a new record high above $126,000 on Oct. 6, before prices declined nearly 11% in the lead-up to the Federal Reserve’s decision to cut interest rates by a further quarter-point last week, though Fed Chair Jerome Powell suggested an additional reduction to rates isn’t guaranteed in December. Higher cryptocurrency prices tend to coincide with the Fed opting for lower interest rates, as the price of bitcoin surged during the pandemic as rates fell, rising from $5,000 in March 2020 to around $69,000 by November 2021, and when the Fed opted for rate hikes in 2018, the value of bitcoin fell from around $20,000 to roughly $3,000. Fed Governor Lisa Cook said Monday she was undecided on a rate cut for December, and it’s unclear whether other central bank officials would favor holding interest rates at their current range, other than Kansas City Fed President Jeffrey Schmid, who voted last week to not lower rates at all. Surprising Fact Bitcoin prices decreased 3. 7% in October, the worst performance by the cryptocurrency.