Chriss W. Street

Latest News

Obamacare Premiums Average $82 after Taxpayer Subsidy

According to a Department of Health and Human Services report dated June 18th, the average “qualifying applicant” for the Affordable Care Act (Obamacare) on the federal marketplace received a $264 taxpayer subsidy and is only required to pay an $82 premium. Only three out of every ten who signed up for “federal marketplaces” are paying a monthly premium of more than $100. Jun 19, 2014 8:35 AM PT

Iraq Is Now Asia's Problem

With the United States becoming a net energy exporter in early 2014 and expected to be the world’s largest producer of oil in 2015, the United States’ 40 years of investing massive financial resources and diplomatic clout to maintain stable access to Middle East oil has come to an end, as only 16% of Americans support sending troops to Iraq according to a June 17th Public Policy Poll. Jun 19, 2014 8:09 AM PT

With Iraq Imploding, California Now Reliant on Oil Trains

In the time since our April expose titled “California: Here Come the Oil Trains”, pressure has been mounting on state and federal officials to disclose the number of hundred tank-car trains that are rumbling into California carrying highly combustible crude oil. But with California’s substantial supply of imported Iraq oil in peril of being cut off, the State of California on June 13 said it will be withholding all disclosures regarding the rapidly growing number of oil trains coming to California. Jun 16, 2014 5:19 AM PT

Resentment of Bay Area Drives 'Six Californias' Initiative

The U.S. Bureau of Economic Analysis just recognized California for being in the top half for GDP growth by state in 2013. Governor Jerry Brown likes to crow about California being a leader in nation economic recovery and job growth. But Brown avoids the fact that most of the recovery is along a narrow 48 mile strip of the 101 Freeway betwee Santa Clara and San Francisco counties, known as the “Bay Area.” Jun 12, 2014 3:10 PM PT

California Misses Budget for First Time in Six Months

The California State Controller has announced that sales, income and corporate tax revenue came in $530.4 million, 7.8%, below budget for the month of May. That substantial budget miss comes less than two weeks after the California Bureau of State Audits found a $31.65 billion in accounting misstatements. With Governor Brown and the Legislature battling over how to spend the state’s expected surplus, the Controller just announced that a big piece of that “fun money” just got wiped out. Jun 12, 2014 8:20 AM PT

David Welch: The Man Who Slayed California Tenure

Behind the conservative’s dream-come-true victory of tenure laws and union contracts for California’s public schools teachers being ruled unconstitutional Wednesday by a Los Angeles Superior Court, is an organization called Students Matter. The group is led and funded by Silicon Valley entrepreneur David Welch, who also sits on the national board of the ultra-liberal Natural Resources Defense Council. Jun 12, 2014 8:17 AM PT

Stockton Retirees Could Lose 99% of Health Care Claim in Bankruptcy

Facing a July 8 trial decision that could wipe out most of its public employee pension benefits, the City of Stockton filed a revised bankruptcy restructuring plan last week that converts $544 million in life-time retiree healthcare benefits to a one-time payment of $5.1 million. Jun 10, 2014 5:50 AM PT

6 Million Medicaid Enrollments Since Rollout of Obamacare

U.S. Centers for Medicare and Medicaid Services disclosed that 6 million people have signed-up for healthcare from Medicaid since the rollout of the Patient Protection and Affordable Care Act (Obamacare). Jun 9, 2014 10:09 AM PT

Silicon Valley's Andreessen calls Snowden 'Traitor'

While the U.S. technology industry now seems desperate to try to reign in spying programs after the retaliatory blowback of losing huge amounts of foreign commercial and government business, top venture capitalist Marc Andreessen is standing alone in calling Edward Snowden a "traitor" for leaking government secrets. Jun 8, 2014 5:00 AM PT

New 'Peak' US Jobs Leaves Another 7 Million Behind

Despite the hoopla about a new record for jobs, the “recovery” is really about the 11 million U.S. population growth and about 4.7 million seniors that are postponing retirement. It would still take another 7.2 million jobs for a real recovery. Jun 6, 2014 3:45 PM PT

Russia's Biggest Weakness Is Dependence on Visa and MasterCard

To most observers, U.S. and European economic sanctions have had minimal success in discouraging Russia from covertly interfering in the Ukraine. But sanctions have exposed Russia’s dependence on America’s Visa and MasterCard for processing about 56% of all transactions in Russia’s $2.3 trillion economy. Jun 6, 2014 12:37 PM PT

Lifting US Crude Oil Export Ban Would Spur US Production

IHS Consultants just published a report that lifting the U.S. oil export ban would cause U.S. crude oil production to rise by an average of 1.2 million barrels a day. The study argues that allowing crude oil exports would improve the fit between booming crude production and America’s lack of refining capacity. Jun 3, 2014 3:38 PM PT

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