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The current debate in Congress over the debt ceiling and federal spending is raising the possibility of a reduction of the United State’s credit rating from “triple-A” to “double-A.” How? Well, the argument is that the Treasury could not make payments on existing debt. And, just like your household, when you cannot pay and are late or miss a payment your credit is damaged. The Treasury Department has stated: “If Congress fails to increase the debt limit, the government would default on its legal obligations – an event unprecedented in American history.”

What would this mean? How would this affect your business?

Robb Mandelbaum’s piece today in the New York Times “You’re the Boss” section today is an excellent read for many small to mid-sized business owners seeking to “game the system” once the Affordable Care Act is fully in place. The article explains in cogent detail why a business owner cannot bust up a large company into smaller companies to avoid application of penalties associated with failing to provide health insurance after 2014.

The Flood Insurance Reform Act of 2011 (HR 1309), provides a five year reauthorization and updates the National Flood Insurance Program (NFIP). The House passed the bill yesterday in a bipartisan vote of 406 – 22.

Flood insurance, and the federal government’s participation in the market, raises significant policy questions as to how a country or a people should plan for risk. Should the federal government be involved in the program at all? Should restrictions on the program’s ability to provide insurance, where private insurers claim they provide adequate coverage, be eliminated? Should individual home and business owners be entitled to make their own risk decisions and not purchase flood insurance?

Surprising court watchers, the Sixth U.S. Circuit Court of Appeals has upheld as constitutional the individual mandate provision of the Patient Protection and Affordable Care Act. The Opinion is available here and was issued on June 29, 2011.

The Opinion was 2-1 with mix of concurrences and dissensions to various challenges made by the plaintiffs. The “surprise” was that on the three judge panel was Judge Jeffrey Sutton. Judge Sutton is a Bush appointee and former clerk to Supreme Court Justice Antonin Scalia. With Judge Sutton on the panel many conservatives counted on his vote against the constitutionality of the law. Judge Sutton rightly pointed out that the challengers were challenging the law before implementation in 2014 and thus faced a much higher burden of proof. He seemed to hint that “as applied” challenges (after implementation) would be an easier argument.

Surprising court watchers, the Sixth U.S. Circuit Court of Appeals has upheld as constitutional the individual mandate provision of the Patient Protection and Affordable Care Act. The Opinion is available here and was issued on June 29, 2011.

The Opinion was 2-1 with mix of concurrences and dissensions to various challenges made by the plaintiffs. The “surprise” was that on the three judge panel was Judge Jeffrey Sutton. Judge Sutton is a Bush appointee and former clerk to Supreme Court Justice Antonin Scalia. With Judge Sutton on the panel many conservatives counted on his vote against the constitutionality of the law. Judge Sutton rightly pointed out that the challengers were challenging the law before implementation in 2014 and thus faced a much higher burden of proof. He seemed to hint that “as applied” challenges (after implementation) would be an easier argument.