Yesterday, the Obama Administration reported that the number of American businesses has declined under President Obama. That decline has led to the loss of more than 2 million jobs. Thanks to the President’s health care law, businesses are straining even more and have less ability to grow and create jobs. So it’s no wonder why confidence in the economy has hit its lowest levels since January. No matter how the Supreme Court rules on ObamaCare, House Republicans will focus on a better way forward to provide patient-centered, affordable and accessible health care. We will also act before August to remove red tape and stop the tax hike to restore certainty, grow the economy and get people back to work.
This Day In History: In 1939, the “Frankly, my dear, I don’t give a damn” scene in Gone With The Wind was filmed. Now one of the most famous movie quotes of all time, Clark Gable’s farewell to Vivien Leigh has endured through the ages. The scene was filmed twice, the second time without the use of the word “damn” as the director was worried the censors would take offense.
Birthdays: Rep. Jeff Miller, Senator Kelly Ayotte, Khloe Kardashian Odom, Tobey Maguire, Jim Edmonds, Vera Wang, Helen Keller, Bruce Johnston, Ross Perot, Juan Trippe, and Ed Westwick
Here Are The Top Stories We're Watching:
1. State Of Play: Poll: Majority Of Americans Disapprove Of President Obama’s Handling Of Economy. “But it’s also been a problematic month for Obama when it comes to U.S. economy. According to the poll, 49 percent say they’re less optimistic about the economy after what they’ve seen, read and heard in the last few weeks…What’s more, 53 percent disapprove of the president’s handling of the economy, which is up one point from last month. And 61 percent believe the nation is headed in the wrong direction, a three-point increase from May…Yet, asked whether the president’s policies have helped or hurt the economy, 33 percent say they’ve hurt; 32 percent say they’ve helped; and another 32 percent answer that they haven’t made much of a difference.” NBC/WSJ Poll
2. The Economy: Consumer Confidence Falls For Fourth Straight Month. Americans can't seem to shake their uneasy feeling about the economy. Consumer confidence fell in June for the fourth straight month as worries about jobs and the overall economy outweighed relief at the gas pump and an improvement in the housing market, according to a private research group. The decline was modest; the Conference Board said Tuesday that its Consumer Confidence Index fell from 64.4 in May to 62 in June. But the four-month slide from 71.6 in February is significant and corresponds with a slowdown in hiring by U.S. companies over the same period…The latest survey shows that despite lower gas prices, Americans are still worried about stagnant hiring, low home values, the choppy stock market and a worsening European economy that some fear will hurt the U.S. "We're trying to break free from this orbit, and we haven't been able to," said Mark Vitner, senior economist at Wells Fargo Economics. "Job market concerns will always trump swings in energy prices." Associated Press
3. Small Biz: President Obama’s Policies Harming Job Growth, Number Of Businesses Fell In 2010. The number of U.S. businesses with paid employees fell for a third straight year in 2010, but the rate of decrease slowed, the Census Bureau said on Tuesday. U.S. businesses numbered 7.4 million in 2010, down by 36,800 from the previous year. The decline between 2008 and 2009 was 168,000 establishments, according to the bureau's "County Business Patterns: 2010" report. Total employment was 112 million in 2010, a decline of 2.5 million workers. The drop from 2008 to 2009, at the height of the U.S. recession, was 6.4 million employees. "This year's release of the County Business Patterns shows the overall decline in employment is slowing," William Bostic Jr., associate director for economic programs at the Census Bureau, said in a statement. Reuters
4. Health Care: Pollster John McLaughlin: 58% Of People Want ObamaCare Repealed, 57% Favor Step-By-Step Approach After The Election. “We released a survey, the Young Guns Network dot org, 58% of the people want this decision repealed on ObamaCare. And you know what, 57% favor a step-by-step approach where they want Congress to do it after the election. They just overreached. A third of Americans are paying more on their health care right now and they blame ObamaCare. And 92% have health care, of the people who are going to vote...They only like two things, they like pre-existing conditions but they want a market solution. They don't want a government mandate, and 73% oppose the government forcing them to pay the mandate.” CNBC
5. Energy Focus: Expanded Oil Drilling Will Help Make America More Energy Independent. America will halve its reliance on Middle East oil by the end of this decade and could end it completely by 2035 due to declining demand and growth of new petroleum sources, energy analysts now anticipate…Still, growing domestic energy production could allow the U.S. to lessen its focus on the unpredictable region over time. Dependence on Middle East oil has shaped American foreign, national-security and defense policies for most of the last half century. It helped drive the U.S. into active participation in the search for Arab-Israeli peace; drove Washington into close alignments with the monarchies of the Persian Gulf states; compelled it to side with Iraq during its war with Iran; prompted it to then turn against Iraq after its invasion of Kuwait, bringing about the first Persian Gulf war; and prompted Washington to then build up and sustain its military presence in the region. Wall Street Journal
6. Keeping Tabs: Tax Cheats Given $1.4 Billion In Stimulus Loans. Tax cheats were given $1.4 billion in government-backed mortgage loans under President Obama’s economic stimulus, and the government doled out at least an additional $27 million in tax credits to delinquents who took the first-time-homebuyer tax break, according to a government audit released Tuesday. Under government rules, delinquent taxpayers are supposed to be ineligible for the mortgage insurance program unless they have reached a repayment agreement with the Internal Revenue Service. But the Federal Housing Administration didn’t have the right controls to weed out bad applications, said the Government Accountability Office, Congress‘ chief investigative arm. Washington Times
Off The Beaten Path:
Presidential Cookie Bake Off: Michelle Obama vs. Ann Romney
10-Year-Old Tattooed By His Grandfather
Remembering Nora Ephron Writer Of When Harry Met Sally & You've Got Mail