Driving the Day: 12/14/12

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by Free Enterprise

Dec 14, 2012

Need to know…

Small Business Capital Spending Intentions Plummet. The latest Wells Fargo-Gallup Small Business Index finds that small business owners’ net capital spending intentions fell -14 in November, the lowest such rating in more than two years. It suggests business owners’ forecasts about the state of the economy and the tax climate next year are severe enough to keep them from spending on long-term investments.

States Face Federal Aid Cuts and Higher Health Care Costs. A new report shows that just as state governments are healing from the recession, they are confronted by two threats: reduced federal help and increasing health care costs. Governors are bracing for substantial cuts in federal aid in the immediate future, even if President Obama and Congress strike a deal on the series of budget cuts and tax increases set to take effect in January. At the same time, the spiraling costs of Medicaid, employee health insurance premiums, and retiree health care would make it nearly impossible for states to fill the gap caused by expected federal cuts.

United States Refuses to Sign UN Internet Regulations. The United States will refuse to sign a non-binding U.N. resolution calling for regulation of the Internet despite the measure winning support of other countries participating in a summit on the issue. U.S. technology companies warn the resolution would disrupt governance of the Internet and open the door to online censorship. The U.K. and Canada also said they would not ratify the treaty.

Worth the read…