Why the Cost of Job-Based Coverage is on the Rise
Posted by David Schneider

Look around at the healthcare system today and it is any wonder that anyone in America has health care coverage. Employers will be the first to tell you that it’s no picnic to sort through the hundreds of proposals for health care coverage that they are bombarded with. Employers want to provide the best possible job-based insurance coverage that they can, but they are finding it increasingly more difficult as job-based coverage continues to rise.

Those with job-based coverage can’t understand the reason for the rise in coverage but analysts, experts and even employers can narrow it down to three rather simple reasons for the rise in health care coverage, which not surprisingly, are all linked in some way.

Medical Costs Growing — Wages Aren’t

A driving force in the rising cost of job-based health coverage is the fact that many Americans aren’t growing financially. That simply means that salaries and wages aren’t increasing as fast as healthcare premiums are. As the standard of living increases and so does the out of pocket costs of healthcare, many families and individuals are struggling to make all ends meet with the weekly paycheck. Some families are simply struggling to get to the end of the week with what they have in their pocket while employers are struggling with whether or not they can afford to finance benefits any further, something that traditionally employers have done since the 1960’s. They (employers) are realizing that this is becoming nearly impossible as managed healthcare continues to make the switch the consumer driven healthcare.

Being Healthy Costs Less

Second to wage increases or lack thereof is the debate over leading a healthier lifestyle in order to keep job-based health coverage low. Let’s face it, Americans are growing more and more sedentary and employers have to pay for that in the form of rising premiums and benefits. With obesity becoming one of America’s top health concerns, waistlines are expanding almost as fast as the cost for job-based coverage. Employers are jumping on bandwagons to keep us healthy by offering incentive programs and wellness programs. The purpose and thought behind these programs is that if we can live healthier lifestyles, then the need to increase healthcare premiums and medical costs won’t be as great.

Treating the Healthy and Unhealthy

Finally, in the link between the cost of healthcare coverage and our lifestyle, is the cost to treat Americans, both the healthy and unhealthy. It isn’t only treatments though, as we discover more about what causes such diseases and how to prevent them, there comes the cost of all the new screening process, testing and procedures, which adds to the rising cost in job-based health coverage. As there becomes an awareness for early detection of such cancers and illnesses, doctors are making testing and screening part of an all over wellness recommendation, but the healthcare companies are not. Some testing and procedures are still not covered or covered at a small portion, which leaves the employees handling the bulk of the out of pocket expense.

Let’s not forget how different the healthcare industry is today. A couple of decades ago, employees working for small businesses or part time employees had few options for healthcare if any at all but as more and more employers look for qualified employees they also are finding that providing job-based healthcare coverage is nearly as important as having skilled employees. If you look at the picture as a whole, our lifestyle changes, the shift in employment opportunities and the healthcare crisis in general it is far easier to understand why there is a rise in job-based healthcare coverage.

Why is it so Hard to get a Stated Income Mortgage Loan Closed?
Posted by David Schneider

For many potential real estate investors, homeowners or investors seeking a commercial real estate property, a stated income mortgage loan may seem very advantageous. This type of loan requires minimal documentation for the loan applicant. A stated income mortgage loan may require the applicant to provide information on his income and credit history, but it does not require proof of the stated income. The lender may verify the income stated by the applicant is feasible, but do not require proof of this stated income.

Although stated income mortgage loans require minimal documentation, applicants for a stated income mortgage loan must have decent credit scores and must be able to prove the existence and worth of assets. While applying for a stated income mortgage loan may be a simple process with minimal documentation requirements these types of loans are often difficult to close.

Sign on the Dotted Line

One of the problems that often occurs during the closing of a stated income mortgage loan is the lenders insistence on the borrower signing documentation enabling the lender to verify the tax information for the previous two years. Loan applicants who stated their estimated income honestly may not have a problem with this request. However, applicants who offered a stated income that was inflated may balk at this request. Lenders may not require proof of income, but may request the authority to review tax records in an effort to determine whether the applicant is fully capable of repaying the loan. If the applicant is found to have committed fraud by stating an inflated income, the loan can be revoked and ordered to be repaid immediately, or the terms of the loan may be re-written to create unfavorable terms.

Clearly Understand the Terms

The terms associated with a stated income mortgage loan may also adversely impact the ability to close on this type of loan. This impact may be a result of the borrower realizing the terms offered are unfavorable. However, lenders are not likely to offer ideal terms to lenders pursuing a stated income mortgage loan because these loans are riskier than traditional loans. As a result, closing may be delayed until an agreement can be reached on the terms of the stated income mortgage loan.

Miscellaneous Complications

Finally, there may be difficulty closing on a stated income mortgage loan for a number of reasons which are not directly related to the type of loan being issued. These problems may include, but are not limited to, delays associated with the title work, schedule conflicts with the closer, delays in getting final financial numbers to the closer, name changes by either the buyer or the seller which are not properly documented and verified as well as failure to show up at the closing with certifiable funds.

One of the things someone can do to make sure closing goes off without a hitch on their end is to make sure all paperwork is in order and all questions have been answered. Prior to a closing, the buyer should determine the amount of money owed at the closing and should bring these funds in the form of a certified check to ensure a smooth closing.

Why Mortgage Rates Rose after the Fed Cut
Posted by David Schneider

Current homeowners who are hoping to refinance, current homeowners who are hoping to make a move to a bigger house and prospective homeowners hoping to acquire a first home all have one thing in common. In each of these scenarios, the individual keeps a close eye on mortgage rates hoping to make a real estate investment at an opportune moment. However, determining the best time to make this large investment is not always easy. Many individuals in these situations keep a close eye on the Federal government believing Fed cuts will result in an ideal situation. This is rarely the case.

No Immediate Benefits for Mortgages After the Fed Cut

The most important thing to understand about Fed cuts is they are not designed to immediately benefit those who hold or are seeking mortgage loans. Mortgage loans are typically long-term loans ranging from 15 to 30 years. These types of long-term loans are not enhanced by a Fed cut as demonstrated by the Fed cut of September 2007. As eager homeowners and prospective homeowners eyed this cut with anticipation, mortgage rates increased slightly after it. Although mortgage rates did not benefit, home equity loans, which are based on the prime rate as well as short-term loans such as car loans and credit cards, received the most benefit.

Declining Rates After the Fed Cut

There are occasions in which mortgage rates do decline with a Fed cut. However, this situation is usually temporary and is rarely intentional. In most cases, a decline in mortgage rates coinciding with a Fed cut is an indication of similar goals by consumers and Wall Street trading houses and foreign banks. This is because Fed cuts are specifically designed to benefit Wall Street trading houses and foreign banks. When a Fed cut is issued, the stock market typically sees a boost because the Fed cut sends a message of solvency that re-assures investors. As a result, investors typically remove funding from mortgage-backed securities, which are considered to be less risky and re-invest the funds into the more tumultuous stock market.

Investor Interest

The shift in investor interest from mortgage-backed securities to stocks generally results in greater gain from these stocks, as a result the mortgage backed securities become even less appealing as the shift to stocks trickles down from big investors to investors without a great deal of capital to invest. With this shift, it becomes necessary for those who issue mortgage backed securities to attempt to make investing in these equities more appealing. In an effort to accomplish this goal, there is a need to provide higher yields to investors. The way to do this is through increasing the rates on mortgage-backed securities. The rates on mortgage-backed securities are linked to the underlying mortgage rates and therefore these rates must rise as well.

By understanding how a Federal cut works and the reasons behind it, it can make understanding why mortgage rates rose in the first place a little easier.

Which Online Companies Offer the Best Free Insurance Quotes
Posted by David Schneider

Choosing insurance can be a difficult and overwhelming process. How much do you need? How much will it cost? Where should you begin? The easiest way to find insurance is to utilize an online company that gives you free insurance quotes. Although there are hundreds of companies like this out there, some are better and more reliable than others are.

One of the most important things you should look for when choosing an online insurance quote company is that they are neutral. It is important that you are able to trust the company and not be “sold” on one insurance plan or another because the website owners will get a commission from your purchase. You need to pick the insurance plan that is right for you, your family and your budget, not what is right for someone else. Let’s look at which online companies offer the best free insurance quotes.

Health Insurance Quotes from EhealthInsurance.com

Ehealthinsurance.com — At Ehealthinsurance, you can find an affordable health insurance quote that fits your needs and apply for your policy right there on the spot. Ehealthinsurance offers health insurance quotes from some of the top health insurance providers within your area and allows you to select up to four policies at a time to compare side-by-side. You can get all the information on a plan, including deductibles, individual and family maximums, whether maternity coverage is an additional option (and how long you have to wait to use it), what type and length of hospital stays are covered, how much mental health coverage is available and much more. Aside from regular insurance options, you can also search for short-term insurance quotes, student insurance quotes, health savings accounts and small business health insurance coverage (you must have a certain number of employees to qualify).

Reliable Automobile Insurance Quotes from Progressive.com

Progressive.com — If it is auto insurance you’re looking for, Progressive will allow you to compare quotes from many different providers. Although they are also a car insurance company, they can be a helpful source in obtaining the lowest car insurance quote for your needs. You can even do side-by-side comparisons to see the true value of what you are getting for your money. If you decide to purchase the Progressive quote, you can do so directly from their website. The downside is that if you want to go with another company, you will need to get the quote from their company website to complete your purchase.

For all Insurance Quotes Needs, Insurance.com

Insurance.com — Insurance.com is a “one-stop shop” where you can compare top company rates for several different types of insurance coverage. Whether you want auto insurance, life insurance, health insurance, or homeowner’s insurance, you can get quotes, compare them through the Insurance.com website and even purchase the one that best fits your needs.

No matter what type of insurance you are looking for, all of these companies can help you find quotes for affordable insurance that fits your needs. There is no need to second-guess the quote you are getting and, since you can buy the quote directly from the website, you know that it is the quote that you will receive. You won’t be talked into purchasing more than you need by a sales representative.

Which States Offer the Lowest Car Insurance Rates
Posted by David Schneider

Car insurance is one of life’s annoying necessities. While most states require that you carry some form of coverage, many people still feel that they are feeding the car insurance companies their money for no good reason. Some people even go as far as to intentionally not purchase the insurance coverage required in their state. While this may be a cheap route, it is not recommended and you could face some hefty fines if caught.

Although some form of car insurance is required in most states, there are a few states where the residents get off very lucky.

States with Fewer Requirements for Car Insurance

New Hampshire & Wisconsin — These two states have the least amount of car insurance coverage requirements in the U.S. Liability is not required, PIP is not required and they dodge “no-fault” insurance as well. The only coverage that these two states really require is uninsured motorist coverage. If you do wish to carry liability coverage in these two states, the minimum is $25,000 max bodily injury per person, $50,000 max bodily injury per accident and $25,000 max property damage per accident in New Hampshire and $25,000 max bodily injury per person, $50,000 max bodily injury per accident, and $10,000 max property damage per accident in Wisconsin.

Louisiana — This state is also in the top five states for lowest car insurance requirements. Louisiana requires liability only, with minimums of $10,000 max bodily injury per person, $20,000 max bodily injury per accident and $10,000 max property damage per accident.

Ohio — This state follows close behind Louisiana, with liability only at minimums of $12,500 max bodily injury per person, $25,000 max bodily injury per accident and $7,500 max property damage per accident.

General Requirements for Car Insurance

California — Everyone in California gets off easy with only liability coverage required with a minimum of $15,000 max bodily injury per person, $30,000 max bodily injury per accident and $5,000 max property damage per accident. However, if you are a low-income driver, you can apply for special insurance qualifications through the California Automobile Assigned Risk Plan. With this plan, the liability minimums become $10,000 max bodily injury per person, $20,000 max bodily injury per accident and $3,000 max property damage per accident.

Arizona & Nevada — These two states have general car insurance requirements similar to the general requirements in California, with liability only required at minimums of $15,000 max bodily injury per person, $30,000 max bodily injury per accident and $10,000 max property damage per accident.

Lowest Car Insurance Rates

Alaska & Iowa — These two states round out our list of states that offer the lowest car insurance rates. They require liability only, with minimums of $20,000 max bodily injury per person, $40,000 max bodily injury per accident and $10,000 max property damage per accident in Alaska and $20,000 max bodily injury per person, $40,000 max bodily injury per accident and $15,000 max property damage per accident in Iowa.

If you live in one of the above states, consider yourself very lucky. Although no one likes to “hand out” his or her money, car insurance is important and you will be glad that you have it should you ever find yourself in a costly accident.

What Are the Most Trusted Online Sites for Health Insurance Quotes?
Posted by David Schneider

Health insurance coverage is a growing problem in the U.S. Millions of people are either underinsured or uninsured due to job loss, self-employment, not qualifying for coverage through their employer (i.e. part-time workers), or unaffordable health care plans being offered through their employer. This leaves many people in a tough situation. While it may be easy to get through a normal day without health insurance, what happens when that same person gets sick or injured? He or she will be buried under a pile of medical bills with bankruptcy or loading his or her credit cards with medical costs as his or her only hope of ever getting out. If you need health insurance, below are three of the most trusted and reliable sources online to obtain health insurance quotes and to find an affordable plan that fits inside your budget.

Easy to Compare Health Insurance Quotes

Ehealthinsurance.com — This is a trusted and reliable company for getting health insurance quotes and applying for them directly from the quote page. To date, Ehealthinsurance.com has helped insure over 1 million individuals who otherwise may have gone uninsured due to the difficulty of finding affordable health insurance on one’s own. At Ehealthinsurance.com, you can receive rates from the top health insurance providers in your area, compare up to four policies side-by-side to examine exactly what you are getting for your money, review the details of each policy and apply for the policy you think best fits your needs. Whether you are looking for individual health care, family health care, short-term health insurance, student health insurance, a health savings account or a small business policy, Ehealthinsurance.com can help you find the right policy.

HealthQuoteFinder.com — HealthQuoteFinder.com is another trusted and reliable source to find health insurance quotes for yourself and your family. They have been helping other families solve their health insurance issues since 2001 and are licensed with over 40 of the top health insurance providers. By using HealthQuoteFinder, you will receive five of the best quotes from these top health insurance companies, based on the information you provide on your short initial questionnaire. You can also find rates for life, group and short-term plans.

Accurate Health Insurance Quotes

NetQuote.com — NetQote.com is yet another trusted and reliable health insurance quote provider that has helped millions of people find affordable health insurance coverage. Although very similar to both Ehealthinsurance and HealthQuoteFinder, NetQuote requires a more detailed form to be filled out, which includes insurance info, applicant info, medical history and coverage type, in order to receive a quote. Although this may take more time up front, it will provide you with the most accurate quote. After all, leaving out important medical information such as medical history can only cause surprises down the road, after you apply for your policy.

Any of these three online companies can provide you reliable insurance quotes and help you get the health insurance coverage that you need. Remember, a little out of pocket now, will save you thousands if and when you have major medical expenses that are covered under your policy.

How Medical Credit Cards can Help Cut the Cost of Medical Expenses
Posted by David Schneider

Sadly enough, millions of Americans are without health care. Even more disturbing is that there doesn’t seem to be a fix anywhere in sight from the government on how to deal with the continuing rise in medical expenses. Out of pocket costs for medical expenses seem to continue to rise, and Americans are left holding the bills to prove it. For some though, a solution, albeit a temporary one until this nation’s government comes to a solution for the health care crisis, is to use medical credit cards to buffer the blow of rising medical expenses.

What a Medical Credit Card Is

There are essentially two different kinds of medical credit cards. One type is fairly new and is issued as part of your health insurance through your employer. These cards are gaining in popularity because your employer and you contribute to an account (Flexible Spending Account or FSA). Your portion is directly debited from your paycheck and typically, your employer matches a portion if not all of that amount. From there, you are issued a debit or credit card that you can swipe when paying for doctor office visit co-payments, dental and even vision services.

The other type of medical credit card is just like any other type of credit card. It is an open line of credit that is used to pay medical expenses. These types of credit cards carry an interest rate just like any other kind of credit card. It is possible to find decent rate by shopping around and just searching for “medical credit cards” in a web search. This type of card can be issued from any of the major credit card lenders such as Visa or MasterCard.

When you run into a situation where your insurance won’t cover the medical expense, a medical credit card comes in handy for covering the unexpected, the elective or even the emergency situation that typical health insurance doesn’t take care of. If you are using a FSA medical credit card to cut the cost of medical expenses, you use the card in place of cash for pretty much everything from contact solution to outpatient surgery. Since money has already been put away in an FSA account, there is no worry about how to pay for a procedure or needed medication.

How Medical Credit Cards can Work

Likewise, a medical credit card with an open line of credit, such as one you would get from Visa, works in the same way a standard credit card works. Anyone carrying a medical credit card can easily pay for procedures or anything health care related at the time of service. You will then get a bill with your next statement just as you would with your typical credit card. Many doctors, hospitals and clinics are accepting medical credit cards as an efficient way to pay for services.

Valuable Resource for Cutting Medical Costs

Though there is no sure fire way to cut your medical expenses, having a medical credit card can make things a little less stressful for you, especially in times of emergency or if you are one of the millions of Americans still uninsured. Here is just a sample of some of the relief having a credit card dedicated to cutting your medical costs can give:

• Convenience — Once your procedure is finished, you only need to be concerned with paying your monthly statement. You can pay upfront for most medical expenses.
• Automatic reimbursement — You may not have to wait for reimbursement after using your card. Some FSA cards now offer reimbursement within days of using the card.

All in all the convenience of a medical credit card helps people cut the costs of medical expenses by being able to avoid out of pocket costs that emergencies incur and be able to get other essential services and items that insurance may not cover.

Current Scams to Beware of When Shopping Around for a Mortgage Loan
Posted by David Schneider

When you first applied for a mortgage loan, how well did you trust the loan officers and lending companies? The biggest fear most people have when shopping around for a mortgage loan is getting scammed. Not surprising are scams that rush the closing of the mortgage loan, requiring credit insurance and even signing away your deed. Not only are these scams for someone shopping for a mortgage loan, but they can also be a warning for anyone who has a mortgage loan and may be looking to refinance. In order to protect yourself from being scammed, you should first understand what to look for and how each one works.

Mortgage Loan Closing Race

Appropriately enough you could also call this type of scam, “Hurrying you along so you don’t read the fine print of the larger scam.” That might sound like a mouthful, but in terms of a mortgage loan it could simply mean that you are rushed through the loan process so that loan officer can change the terms, change the APR or tack on more fees to the final paperwork. This mortgage loan scam can be done by reeling in your business with “limited time offers” on good rates or fees. In order to get those great deals, you must close by a certain date. The trick in this scam isn’t hard to pull off. Most people are so focused on getting the good deal in a short time period that they miss the fine print notifying them of changes or discrepancies that they otherwise wouldn’t have approved.

Scamming With Unnecessary Credit Insurance

In short, credit insurance is basically an extra fee written into the mortgage loan papers at the time of signing. You won’t ever see them while the mortgage loan is being written up and the loan officer probably won’t ever discuss them with you. This is becoming a very common scam, especially in the aftermath of the sub prime mortgage loan craze. If your loan officer does discuss it with you, the credit insurance may be pointed out as a benefit and way to protect you. Should you object to the credit insurance fee(s), you may be told that it could take days to rewrite the loan papers, the manager could reconsider the loan and even that you may not be able to get the loan at all without the credit insurance. This is especially true if you have less than perfect credit. Don’t be afraid to question the reason for the credit insurance.

Fudging the Numbers for a Mortgage Loan

Probably the worst of the scams you can be faced with when shopping for your mortgage loan is the loan officer who is more than willing to help you get the loan by “working the numbers” to your advantage. Presumably, anyone who is more than eager to get the mortgage loan for you by being untruthful on the loan papers is not only scamming you, but they are putting you at financial risk and they are being extremely unethical in their practices. The danger in working with this type of loan officer may get you in over your head and you could end up with a loan that can’t afford.

A reputable mortgage loan officer will not scam you. They will work with you in order to assure that not only are you given options to the best mortgage loans for you, but they will also help you find the best mortgage loan that works for your finances as well. The scams discussed here are not only common, but they are easily passed by thousands of people every day. Arm yourself with the information you need to spot a scam and you will be a smarter shopper and even smarter home owner when you do find the mortgage loan that is right for you.

How to Get the Most Up-To-Date Information on Mortgage Interest Rates
Posted by David Schneider

There are many ways that a potential homeowner, someone looking to refinance, or anyone else who wants to know can find the latest and most up-to-date information on interest rates. Keeping up on the latest rates will help you know when a good time is to buy or refinance your home, in order to get a good deal.

Financial Websites Offer Interest Rate Information

One of the best ways to get the most up-to-date interest rate data is to use a financial website, such as Bankrate.com. On Bankrate, there is a rate ticker on their homepage, which gives you the most up-to-date information on several types of mortgage loans. You can first choose whether you are looking for a new mortgage or a home equity loan and then see the rates for each specific type of loan available under that option.

Not only will it give you the rate, but it will also give you the rate from last week and let you know if the rate went up or down. This feature allows you to scan all of these different mortgage types quickly in order to find those that went down, so that you can make those a first priority on your list. When you see one with a big jump downward, you know that it might be something to look into.

Up to Date Information for Interest Rates on News Websites

Although the latest rates may or may not be printed in your daily paper, you can usually find them on more popular news websites, such as MSN Money. On the homepage of their banking section, they offer the day’s national averages for 30-year fixed mortgages, 15-year fixed mortgages, and one-year adjustable mortgages.

You can also use their search form to find out specific information on 20 total types of mortgages. You can find out the national low, the national average and the national high. If you want to get more specific, you can even search for rates in your own state or city. Your results will not only show you the latest interest rates in your area, but they will also:

-Show you the financial institutions associated with each rate
-Dissect each rate by base rate, APR and points
-Tell you what the “lock in” period is

Call Direct for Interest Rate Information

Still popular on the list of ways to get the most up-to-date information on the interest rates you need the most is to call the bank or other financial institutions directly. This way, not only can you get current interest rate information, but you can also compare one institution’s rate to another. You get the convenience of having the information you requested, but you also will know what the best interest rate for your area is since you will be talking to local financial institutions.

This will give you a good idea of what kind of quote to expect and inquire about a specific type of loan and is a great way to decide what kind of loan to get and which financial institution to apply with first before you ever walk through the door.

Although there are thousands of places to find the loan rates you are looking for, these are three of the best places to receive the most up-to-date and accurate information on mortgages and other home loan products.

Presidential Candidate Fred Thompson’s Views on Healthcare Reform
Posted by David Schneider

One of the most important issues that 2008 presidential candidates are tackling during their current campaigns is healthcare reform. In past years, candidates have typically not fully addressed the healthcare issue until much later in their campaigns. However, as both the costs of healthcare and the number of Americans who do not have health insurance increases, healthcare reform has become such a prominent issue among voters that presidential hopefuls have decided that they cannot put it on the backburner at this stage of their campaigns. Most candidates have already even detailed their proposed plans for helping to alleviate the country鈥檚 healthcare issues.

Healthcare Reform Plans and Partisan Lines

The main differences in these plans correlate with whichever political party a particular candidate represents. Both parties are striving for universal healthcare and addressing the issue of those people who do not have insurance, but they greatly differ in how they propose such changes should come about. Whereas Democrats tend to advocate mandated healthcare insurance for everyone in the U.S., Republicans stray from government mandates and believe that free-market solutions would drive down costs because of increased competition and consumer choices. Democrats tend to suggest reversing tax cuts and pulling out of Iraq in order to pay for their proposed changes, while Republicans typically point to deregulation and competition to achieve their desired goals.

Republican Candidate Fred Thompson鈥檚 Views on Healthcare Reform

One such Republican who favors private markets and opposes a government-run healthcare program is former Senator Fred Thompson. Although Thompson has provided the least detailed healthcare reform plan of the leading candidates — in fact, he has not released a formal plan to date — he has still given his general stance on healthcare issues.

His stated goal regarding reform is that the best way to provide the most Americans with the best coverage is to increase competition and decrease governmental regulations. A free-market solution, Thompson believes, is superior because the increased competition leads to more choices for consumers at cheaper prices. This would include moving away from health insurance that is related to employment. He contends that we should 鈥渓et them get out in an open marketplace, create a bigger open marketplace where people can buy insurance from all over the country.鈥?Thompson is a proponent of providing tax incentives that would promote individuals to purchase health insurance themselves.

Fred Thompson has expressed his concern over the vast number of uninsured people in the U.S., but he has yet to provide any details on how he plans to improve this increasing problem. Although he has also not detailed how he proposes to finance his healthcare reform plans, Thompson has said that he would not recommend raising taxes.

Even though Republican Presidential Candidate Fred Thompson has yet to provide a formal plan for healthcare reform, he has still expressed his views in terms that are more general. His solution falls into the typical Republican theme of advocating for deregulation and free-market solutions. He acknowledges that there are far too many Americans without healthcare insurance, but he has not proposed any solution thus far to change this. Although Thompson also has not provided a specific way to finance these changes, he has said that raising taxes would not be part of the solution.