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Supreme Court rules healthcare mandate can stay; retailers upset
New York -- The U.S. Supreme has just ruled that, while the individual mandate to buy health insurance is unconstitutional, this key part of President Obama’s signature healthcare law can stay as part of Congress’s power under a taxing clause.
In other words, the Supreme Court says that the government will be allowed to tax people for not having health insurance.
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Consumer confidence in June dips to five-month low
Washington, D.C. -- The Conference Board, in its monthly sentiment index released on Wednesday, said that confidence among U.S. consumers dropped in June for a fourth consecutive month, reaching a five-month low.
The research firm’s sentiment index fell to 62, from a revised 64.4 in May. The slide in confidence raises the risk that the recently revealed slowdown in hiring will cause households to curb spending.
The median forecast of 69 economists surveyed by Bloomberg News projected the U.S. confidence index would fall to 63.