new concerns of who picks up the cost of insurance under obamacare. for people who stop paying their premiums there is a grace period. live in washington with this. good morning. what is the rule all about? reporter: even though we don t know how many obamacare enrollees are actually paying the premiums, another aspect of the law as you said temporarily rewards those who stop paying. section 14.12 of this law requires a 90 day grace period for people who have subsidize obamacare exchange plans and stopped paying their premiums. insurance company covers you for 30 days and then you are still entitled to cover for another 60 days. insurance company doesn t pay, you don t pay, who pays? the doctors and hospitals have to eat it. it is a strange feature of this health reform.
us to blow through it but avoid economic catastrophe anyway because we can skillfully there is no mechanism for doing that, the treasury department that would be responsible for doing it says that it cannot be done. even if it could be done, an estimate from deutsch bank analysts that was published by the washington post today projects that that idea, even if it were possible, even if it were true, they project that that idea would drop 1,500 points off the stock market right away. it would reduce the economic growth in this country by 4.12% and that s if the magic we won t default scheme is possible.
level down. the summer blend is needed to achieve better air quality. why not go with the cheaper blend now? guest: that is what california is doing. why not nationally? why not just do it? i got a good one, why not lift the blending requirement completely? guest: because if you did lit that blinding requirement you would only achieve a 3 cent a gallon savings. you have . not according to jerry brown, he said it . guest: i already said that, nationally, eric, suspending the air quality standards for gasoline fuel blends will not make a difference. why do you say it is only unique to california? i am looking at gasoline rices in chicago area, chicago alone, $4.304 a gallon. new york city, $4.12. there are a lot of location
this year is going to be a bad one. despite a bank bailout taking shape that could bring his country $125 billion resolution with a rescue from europe. health new calls for federal investigation into west coast oil refineries. democratic senator cantwell from washington state says they may be contributing to the high cost of gas in hero john of her area of the country. the average gas price not united states is right now according to aaa $3.54 but on the west coast, drivers on average pay $4.12 a gallon. what is going on? senior business corporate and anchor of bulls and bears organization joins us with a little bit of insight. so, is this investigation warranted? is this a case of private fixing on behalf of the oil refineries? guest: there are fewer oil refiners in the west coast than
towards the economy as the issue in the campaign and that s going to be a very important turning point for president obama because his record is now at stake as you heard from charles krauthammer. yeah, but the unemployment rate although it s higher when he took office has come down under his watch, right? that s all he s got to point out is the direction that may be reversed. if a lot of these people who have stopped looking for a job start looking for a job and, you know, their unemployment rate could actually go back up again and look at that on the screen, the real unemployment rate. if you include all those people who just dropped out of the work force because they can t these discouraged and no longer collecting benefits and they re discouraged. you put them back in the work force and your real unemployment rate is just shy of 10%. so you make a very good point. yesterday you were on the couch talking about diesel prices. diesel average, i believe, is $4.12 a gallon. i ha