The Healthcare Bill – What you need to ponder…


Well, I’m back.  Work obligations for my dad had prevented him from posting regularly… What a summer we’ve had though, eh?

Obviously the prime issue at this point in time is the healthcare “reform” bill which is winding its way through Congress.

Let me take a few minutes to give you what I think are the biggest problems with this whole thing.  I realize there are far more problems than what I’ll describe below, but in the deluge of information/misinformation, there are a few key points worth remembering.

  1. The whole central issue in healthcare reform, according to the liberals, is the fact that 45 million people are uninsured.  So, the story goes, because they’re not insured, their healthcare ends up costing the rest of us dearly.  But, if you check this article at Factcheck.org, you find that the true picture is quite different.  Putting it all together, about half the 45 million are truly the ones who don’t have access to insurance, and of this 25 million, about half of that (12 million or so) are illegal immigrants or others who probably won’t enroll in any insurance plan.  So, we’re going to tear apart the framework of health insurance for 300+ million Americans to get coverage for 12-15 million who need it, but probably won’t ever enroll, and they show up in the emergency room anyway.  Ask yourself if that makes sense or not?
  2. Obama and Congressional leaders claim that under the healthcare plans being proposed, if you like your insurance, and your doctor, you can keep them. Well, that’s a myth as you can see here. It is quite simple to understand:
    • First of all, if a public plan or govermment healthcare exchange emerges, it is funded and subsidized by your taxes and mine.  Until someone figures out a way to avoid paying income tax that doesn’t involve also spending time in a jail cell, and or being subject to hefty fines, the government is really free to confiscate as much of our income as they want.
    • The government can run deficits and print money to cover those debts.  This means that even if the plan requires more than today’s government revenue (again from us taxpayers), Treasury bills can be issued to get additional funding.
    • Of course, that only works as long as whoever is buying the Treasury bills does not demand a higher interest rate on them.  Until recently, that WAS the case.  Now, if you check here, you find that when the government issues debt, the buyers are demanding higher interest rates.  Since January, the 30 year Treasury Bill (which really helps benchmark mortgage and long-term loan rates) has gone from 2.83% to 4.31%.  This is an increase of over 150 basis points.  This trend may continue, and if it does, expect to see mortgage rates go above 7% sometime in 2010. That won’t do much for the recovery (if one materializes).  The net result of this is everytime the government issues more debt, they have to pay higher interest rates to the buyers to get their money.  That’s not a good situation, because it is equivalent to you maxing your credit cards, letting them go to higher interest rates, and then opening more credit cards to continue the spending.  Eventually the debt service payments start to spiral out of control.
    • But, let’s assume that the two bulleted conditions above hold true… The government can subsidize healthcare premiums on a public healthcare plan at levels that could never be met by a private healthcare insurer.  Since the private company can’t run debts at the size/scope that the government can, and they can’t tax someone to bring in money, the public plan for healthcare would force private insurers to go out of business.
    • When confronted about whether someone would lose their doctor or healthcare insurance plan, the President even has to admit he can’t guarantee that they’ll keep the insurance or doctor.  Here’s the story.
  3. Any government plan for healthcare would by definition ration care because the government has an interest in keeping its payments to doctors/hospitals as low as possible to prevent the taxpayers and citizens from paying exorbitantly for it.  So, deny procedures, specify how many doctors can be put in place at a given location, and also make it very difficult for people to do fee-for-service where you just pay the doctor directly.  All in the name of keeping costs down. That’s called the “greater good trap”.  Putting aside the pretzel of logic that results from saying this and continuing to run debts to finance the program… Let’s take a little peek into what rationed care looks like… Here’s an article you might find interesting
  4. The poll numbers show that a majority of Americans do not want to give up their insurance to move into a government plan and many of them have also heard about the provision that you need to meet with someone to discuss end of life issues.  I’ll leave it as an exercise for the reader to find the articles on that, but Pat Buchanan puts it quite nicely in this article.  If the government is paying doctors to do this kind of counseling, what would prevent the government from issuing guidelines on what that doctor should tell you??  If you really need more evidence of what could happen, check here.  I didn’t need to be reminded of the Monty Python clip in this context.  It was funny back then, but now it is chilling, and should really make you wonder how far the government will carry this.
  5. Many of you have no doubt heard about the townhall meetings and the level of debate that has occurred.  It really bewilders me how liberals (now that they are in power) are railing against the same things they did to the Bush administration in terms of debate/dissent.  However, beating people up is beyond the pale.  Over at Hot Air, there’s an article talking about how union organizers/thugs have beaten up people who show up at these townhall meetings.
    • We now also have Paul Krugman, who is the liberal’s favorite economist saying people (meaning the ordinary citizens who show up to ask questions at the town halls) are deranged. It shows you just how small the thinking is on the left side of the political spectrum.  They have been pushing the idea of healthcare reform (on their terms) for nearly a century now and the attacks against anyone who says they need more infomration or time to digest it are getting downright absurd.
    • Peggy Noonan has a good article on how desperate the Democrats are getting.  Usually, I don’t agree with her, but she’s got it right this time.
    • I would not expect at all that Obama’s message for people to “get out of the way”, is going to carry very far. I know he aimed it at the special interests that made the mess which he says he has to clean up.  However, ordinary citizens don’t usually show up in large masses to these townhall meetings unless they are outraged about something.  Here’s the perspective on that. Particularly note worthy is Roger’s assertion that there is NO moral imperative for health care for all, and the politicians are getting extremely good now at exploiting the basic American compassion for other means.
    • Finally, if you want to see exactly how both sides come out to protest for and against the healthcare plan, check this photo essay and narration out.  I found it quite telling that some of the people sent out by Organizing for America (what used to be ACORN), were day laborers who couldn’t speak English and didn’t know what their signs said.

I’ll be writing more about this subject as events unfold.  If you want me to add you to my blogroll here, send me a note at katia98dog (at) gmail (dot) com.

(Updated) Saturday Morning Update – June 27 2009


Good day to all…

Lots of stuff has happened in the last few days, from the death of Michael Jackson, to the dizzying fall of South Carolina governor Mark Sanford, to the House vote yesterday on the Waxman-Markey “cap and trade” bill.

Let’s begin with the fall from grace of Mark Sanford.  It turns out that he deliberately misled his staff so they didn’t know where he was, and they in turn propagated a set of lies about his location.  Since none of them could get in touch with him, the fault is his.  We also found that he had already started a trial separation from his wife several weeks ago, because she knew about the affair he was having.

I recommend continuing to follow this using the local newspaper for Columbia, South Carolina.  Here’s the link.

A few things to watch on this.

1. Does he resign, or does the legislature (or the public) push him to resign? He says he wants to remain in office, but I don’t see how he can claim to properly represent the interests of a Red State like South Carolina when he has these issues in his personal life

2. Does his wife take him back?  From accounts I have read, she was the one who helped him launch a career in politics in that state.  She really holds the cards here in terms of whether their marriage will survive

One other point is that I hope when Democrats are found to have abused and destroyed the trust of their families and the voters in the same fashion, that they are exposed with the same zeal that the national press used in going after the governor. We should not demand perfection in our elected officials, but it is proper to ask whether they’re living their lives in the same manner that most of their constituents are.

Exit point.  Is it ANY coincidence that Sanford was brought down, Palin was attacked by Letterman (and the national media), again, AND Senator Ensign of Nevada was also brought down by adultery too.  Let’s not forget that all THREE of these politicians were or are mentioned as top-liners for the 2012 Republican nomination.  So, now we are back to Sarah Palin, Mitt Romney and a handful of other “so what” Republicans.  WE NEED TO FIND principled opposition to run against Obama.

Well, that’s a nice segue into the next topic.  Maybe John Boehner is the guy to put closer to the top of the 2012 list… Why?  He came up with the precedent setting idea of doing what amounted to a filibuster on the House floor last night.  He put together a very masterful piece of political theater that was dead serious and a huge rallying cry for conservatives everywhere.

What led him to do this is the very sneaky, underhanded, devious and some would say almost criminal way the Democrats added an amendment to the Waxman-Markey climate change bill. The House was set to vote on it last night, and they put in a 300 page amendment to a bill that was already 1,200 pages long.  The amendment was dumped into the hopper at 3:09AM in the early morning on Friday.

I don’t know about you, but I doubt anyone could have been expected to read the bill, much LESS the amendment before the vote came up.  So, Boehner decided to helpfully walk the House and the American people through the 300 page amendment.  He did so, taking an hour to go through it nearly page by page.  You can watch the video here. What was really interesting is about 20 minutes or so in, Henry Waxman, the primary author of the bill, asks the Speaker Pro Tempore of the House to rule on whether Boehner can continue to speak, because he was yielded only a few minutes of time.  The Speaker rules that it is House custom to listen to whatever the Leader says. That brought the house down.

With this filibuster and the attention it got in Republican/conservative circles, I bet we need to keep an eye on this guy.  He may just have vaulted into the top tier of candidates for the Republicans in 2012.

The bill did pass the house, but ONLY because 8 Republicans decided to break ranks and vote with the Democrats.  You should know who these people are.  Michelle Malkin has a post about them on her blog.  CALL THEIR OFFICES AND MAKE SURE YOU TELL THEM YOUR FEELINGS on their vote.

The bill now goes to the Senate, but I have serious doubts about whether the Senate will ever get a corresponding bill passed.  Senator Inhofe from Oklahoma says the bill is dead and the Republicans expect to get enough Democrats to support a filibuster if anything should make it to the floor.  Here’s an article.

In terms of the Michael Jackson story, there are plenty of outlets on the Web where you can get information, but TMZ.com appears to have a lot of good inside information.  I would also check in with Greta Van Susteren at Fox News.  She’s a brilliant legal analyst and does have lots of contacts in Los Angeles since she used to live there and practiced law there years ago before she made her break reporting on the O.J. Simpson mess.

Michael Jackson was truly the kid who never grew up. He truly believed in the Peter Pan story and tried to live his life like it.  So, he surrounded himself with people, as any celebrity does.  I believe those people took full advantage of his naivete. When he wanted drugs to continue his drug habit, they provided the drugs and enabled his addiction.  The world is mourning the loss of a great talent.  But, some questions remain to be answered in the coming days.

1. Who was this cardiologist/doctor that Jackson had living with him, and did the doctor know about the injection of Demerol that Jackson was given just before he went into cardiac arrest?  Demerol is usually only given just after surgery, and in a hospital because it can bring on slowed respiration and cardiac arrest.  In a hospital counter drugs would be available along with cardiac paddles to re-start the heart. None of this appears to have been around in Jackson’s home.  I hope that the local and state prosecutors go after this doctor and anyone else around Jackson who may have been negligent or set in motion the events that led to his death.

2. Anyone who falsely got prescriptions for themselves and then gave the drugs to Jackson should be prosecuted to the fullest extent of the law.  I wonder if the pharmacy involved may also be culpable.

3. The will and estate Jackson leaves behind will be litigated over for years to come.  This should provide a nice sideshow for the lawyers, but I think Jackson should be remembered as the icon he was. We’ll never get to see that comeback tour he had planned, but we can remember the many musical memories he left with us.

Update: I saw this article which seems to make a pretty compelling case that Obama’s poll numbers are falling to the point where he can no longer argue that his predecessor is fully responsible for the problems we have.

Also, Hot Air has a great article where it appears like the Republicans are carrying forward from Boehner’s filibuster yesterday and framing the messages to use against the liberals next year in the mid-term elections. It’s about time.

That’s all for today.  Reminder that you can follow the blog over on Facebook. The widget is on the left pane of the blog page.  If there is a story, or blog you want me to look into, send me a comment here, or to katiadog (at) gmail (dot) com.  Thanks for dropping by!

Katia’s Afternoon Update


Good day to everyone…

Here are some stories I’m watching today.

Over on the Iran front…

Hot Air has an article on the latest brutal thuggery by the Iranian military and police.  Definitely, the ability to peaceably assemble and protest is in very short supply.

What will be interesting to watch…

1. How Obama continues to try and reconcile his inconsistencies among the statements he has made during the last week. Instead of a full-throated condemnation of the Iranian government last week, he only offered tepid language.  The actual condemnation didn’t happen until yesterday’s press conference, where several members of the press did hold him to account for his lack of being in the lead among the countries speaking out on the election and brutal tactics of the government.

2. Whether his condemnation yesterday will actually change events on the ground or not.  So far, no major change that I can see. But, time will tell whether the mullahs change their tactics.

3. It also will be interesting to see whether there is an about-face on whether the Iranian diplomats can attend Fourth of July celebrations at US Embassies.  So far, no change, but that could become a different story given public outrage.

Mullahs also appear to be joining the protests, according to Hot Air.  Not sure whether these are legit mullahs, but the symbolism is definitely interesting, because if they are mullahs, it indicates that not all the religious/clerical class in Iran is with the government.

Mark Sanford, once a presumed front-runner for the Republican Presidential nomination in 2012, has found his career in pieces which can’t be picked up easily.  He was out of the country, in Argentina, seeing a mistress.  Hot Air has the article here.

I have also been watching the stories around the firing of the Inspector General for Americorps, Gerald Walpin.  You can see those links in older articles, further down the blog.

Katia’s bottom line ideas for today…

1. Events in Iran are still fluid and moving fast.  No one knows what the end result will be, but betting against the protesters in the street would be unwise.  They might not succeed in topping the regime, but they have shined a bright light on what the government in Tehran is capable of doing.  At the very least, the numbers and vociferousness of the protests should tell the world that there is a viable base to begin working from within Iran to effect change.  That, in the long run, might be what we need to head off Iran becoming a serious nuclear weapons state.

Obama did get it right in his press conference yesterday, but it should cause all Americans great concern when we have to wait for our President to take 10 days from the beginning of events to come out with what resembles anything like a full-throated condemnation of the police tactics and murderous things that the Iranian military have done.  So, I ask, why did it take the President so long?  And please, let’s dispense with the idea that Obama’s Cairo speech had anything at all to do with the events in Iran.  The two are not connected, and for him to suggest they are is beyond the realm of logic, and borders on insanity.

2. The Democratic attack machine has to be behind the effort to take down Mark Sanford.  We all know from the past how these guys operate.  They went after Sarah Palin, because she was the only bright light in an otherwise dismal McCain campaign last fall.  Now, as Sanford becomes a darling of the conservatives for 2012, he is now taken out.  Anyone who is planning to run in 2012 for the Republican nomination that looks like a threat better really gird themselves and make sure no skeletons are in the closet.  Otherwise, 2008 is going to look like a picnic compared to the level of animosity and ugliniess that will come out in the 2010 and 2012 election seasons.  The liberals are out to destroy conservatives completely and irreparably.  That is their goal.

3. The government is engaging in tactics that border on the criminal.  Inspectors General are put in place to ensure that taxpayer dollars are appropriated and spent by the receiving entity/agency in the manner which Congress wanted.  These IGs need to have autonomy and independence to objectively investigate the matters brought before them.  The law specifies that if an IG is to be let go, he/she is entitled to have the President send a letter to Congress stating the cause for termination, along with providing 30 days notice before the termination takes effect.  In the case of Inspector General Gerald Walpin who was investigating Americorps expenditure irregularities in Sacramento California, this law was not followed.  The Obama White House terminated his service as Inspector General without adhering to the law, which was written and sponsored by Senator Obama in 2008.

The sad thing is, Americorps will not be investigated now, and through a bill passed by Edward Kennedy, it got its operating budget doubled for this next fiscal year. We will never know where this money goes now.  Obama’s cronies who work at Americorps are free to do whatever they want with the money and there is zero accountability to anyone about how those dollars are spent.  Having Congress in Democratic hands also means no oversight will be forthcoming from Congress members.

I want to welcome readers today who might have found the blog through Jimmy Z’s recommendation.  Many thanks to him for recommending me.  If you have a blog (doesn’t matter what political stripe), send it to me and I’ll add it to my blog roll if it is interesting and noteworthy. I encourage you to add mine.

Thanks for dropping by.

Iran Update and Obama Superhero Cartoon


I thought I’d put these two stories up.  Things in Iran may start to get ugly, very fast.

Over at Hot Air, this afternoon, two links worth reading…

Here’s one which indicates the brutal police tactics are definitely in full force.

Here’s another one.  Seems like Mousavi has been told to be silent.  Time will tell whether that holds, but the chilling record of the Iranian government in silencing opposing political figures seems to be continuing unabated.

Finally, here’s the blog over at the Guardian which I’ve found seems to do a good job of collecting the important events in real-time.

Then, here’s the Obama Superhero cartoon that’s been making the rounds on the Web.

If you are a new reader, read the other posts on this blog. I put it up to give my perspectives on the news events of the day, and from time to time, I will post thought pieces or shine the light on other aspects of our current events that the mainstream media is not reporting.

I am open to any and all comments, and if you have a favorite blog you’d like me to link to, send me an email.  My address is katia98dog (at) gmail (dot) com

Thanks for coming and have a great weekend, and don’t forget to tell your friends about this blog!

Katia’s Evening Update – June 19 2008


Good evening to all…

There are several things I’ve been following that you might want to know about…

1. Glenn Beck read a very powerful, emotional, and heart-felt manifesto on his show the other day, which was written by an ordinary mother, grandmother and housewife in Arizona. Her name is Janet Contreras and I think the letter is an absolute MUST READ.  It brings to the forefront all of the issues, feelings, emotions and thoughts that many have expressed to me since the new Administration took over.

Here are several links for you…  First, click here to see the transcript of Glenn reading the letter on his radio show.  Then, here is his interview with her which aired the next day. If you want to sign the petition, go here.  EVERYONE who wants their voice to be heard by our elected officials should read this letter and then sign the petition.

If you want a You Tube clip, here you go… Click here for Glenn reading her letter.  It’s one of the most powerful things I have ever seen on television.  Then, here is his interview with her on his TV show.

If the conservatives, Republicans, libertarians and like minded independents cannot rally behind this manifesto and use it as a platform for 2010 and 2012 elections, then as far as I’m concerned, we deserve to lose the White House again.

2. The White House has shown an extremely disturbing trend towards getting rid of people who stand in the way of their political philosophies and also the ability of their political machine to protect liberal politicians around the country.  The latest example is the firing of Inspector General Gerald Walpin.  This story has not gotten a whole lot of press, so let me offer a link to bring you up to speed.  Then, here is a link to Glenn Beck’s commentary.  This guy, Walpin, was just doing his job and I doubt anyone could successfully character assassinate him.  But, Obama’s machine is certainly going to try… Click here for a note over at Hot Air about OTHER Inspector Generals that have been fired or let go recently.  These IGs are the watchdog that have the responsibility to check government programs for waste, fraud and mismanagement.  When Obama says he wanted to run the most transparent administration in history, something is very wrong with that statement if you put it up against the events here.

3. Politico has an interesting article today on how the dynamics of the healthcare bill are shaping up from a legislative perspective.  Clearly, there are too many cooks in the kitchen and I think Obama is not doing himself any favors in the long run by letting Congress write the bills however they want.  I’d much have preferred him to take his SIGNATURE issue during the campaign and draft the legislation so that Congress had a place to start.  Although, given the flaws in the proposals, which I’ve discussed elsewhere on this blog, maybe being forced to throw this out and start over might not be such a bad idea.

4. Update: This one just popped up on Hot Air.  Justice Sotomayor, who is up for the vacancy on the Supreme Court just said she would quit being a member of an all-female group called the Belezian Grove. I’ll let you read the article here.  This is much-ado-about-nothing.  The press has already reported on this justice’s character, intellect and temperament and I believe she is lacking in most of those areas. Being a bully, as she is well known to be in court, is not an endearing trait for the cerebral, rational thinking we want on the Supreme Court.  She will probably be confirmed anyway, but it is a great loss for all of us when Obama had the opportunity to nominate a female liberal and minority, if he wanted, and he could have chosen far, far better than this.

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I’ll be writing more on Sunday.  Have a great weekend, everyone!

Katia’s afternoon update – June 18th, 2008


Greetings to all…

Wanted to bring you up to date on a few stories worth paying attention to today…

1. The New York Times issued a poll which seems to still show a gap between the President’s personal approval ratings, and how the public feels about specific policies.  People appear to like the president, but his policies aren’t receiving the same perception. The question for all of us is how much more damage can he sustain on the policy front in terms of negative perception before his own personal ratings also start to suffer.  Note: registration may be required to click on the NY Times link and get to the story.

2. I found an excellent live blog over at The Guardian in the UK that appears to be doing a pretty decent job of indicating what is going on in Iran in more or less real-time.  I offer the link here for your bookmarks.  You might have to go back to their main page here to find the same blog tomorrow, as the above URL appears to have today’s date hard-coded in it.

3. The Democrats appear to want to cut spending on the missile defense system. The link over at Pajamas Media is here.  With North Korea having missile technology and the means to produce nuclear weapons grade material, this seems like a foolhardy move because it does not take that much of a leap in rocket technology to get a missile that can reach from North Korea to Alaska or Hawaii, or even Tokyo.  According to the article, $32M has already been spent to put the interceptors in Alaska, $120M remains to be spent to finish these sites and put the technology in.  The article correctly points out that many civilian technologies come out of the military domain where a requirement is stated, technology is developed and then put into military applications, which is something many Democrats forget. Well, let us consider some ideas in that regard…

  • The Internet (apologies to Al Gore for being incorrect) was invented through work by the military.
  • The idea of routers/switches that drive all the traffic across the networks you use to view this Web page.  Also came from the military
  • GPS and most commercial navigation systems came out of the military
  • High speed jet engines also came out of the military
  • The reduction of transistors and integrated circuits into smaller and smaller spaces also came from the military.  Without that, the technology to develop the iPhone and mobile cellular phones that are so sleek and small wouldn’t have happened.

My point with the above list is it is a complete fallacy for Democrats to say that military spending provides no useful benefit.  In this case, with a confirmed madman in Pyongyang, and a government there that has both rocket technology and nuclear material, I believe it is wise to consider all defense options that we have.

4. According to The Hill.com, Senator Baucus now has the problem of having to cut $600 Billion from the healthcare bill, and Republicans, rightly so, are deriding the whole thing as a sham. The basic problem is that neither party has been able to come together with the other one to draft some principles that are bipartisan.  So, the bill that makes it to the House and Senate floor will be much more tilted towards the Democrat perspective.  What one should watch for is whether the public (government) option is created in such a way as to drive the private insurers out of business over time.  Remember that government can run losses on such a plan, as they’re doing with Medicare, and then we all lose because if there is less choice in the private marketplace, businesses will cut your current insurance and dump everyone in the government plan.  My preferences would be to

  • Figure out how to get the people who are NOT insured covered
  • Put more preventative care clinics in areas where they’re needed
  • Invest heavily in more doctors/nurses, and offer to pay or forgive some of their school loans if they serve in these clinics
  • Put together a catastrophic care bill that can be offered to EVERYONE so that people do not get wiped out by a large surgery or illness that traditional insurance won’t cover

5. Senator DeMint is going after Senator Boxer for her comments to a general who was testifying on the Hill.  Link is here at Hot Air. Apparently, the general decided to call her “ma’am” and she chided him and asked him to call her Senator.  I only include this one here because it is interesting how the Senator forgets that everyone in uniform has seen things in wartime that are unimaginable and many of them give up huge sacrifices to be in uniform for us. She should defer to the General, not the other way around.

That’s the evening roundup for today.  Come back tomorrow for notes on the interesting stories I’m following.  Have a great evening, and thank you very much for coming by.

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Katia’s Evening Update


Touche. I suppose I expected this. The President goes after Fox News…  Here’s one link… and also a link to Hot Air’s story about this. It’s the only channel on the dial where conservative and libertarian views get a fair hearing. So, naturally, the President would feel like Fox’s sole aim is to make life difficult for him. I’ll leave it to the reader to watch Fox News sometime and make up your own mind as to whether they are balanced in their coverage or out to get the President.

However, I’d like to point out that if he really CARED about the conservative or libertarian perspective, and he wanted to be President of ALL Americans, he would be bi-partisan and come on Fox News once in a while to answer questions. The reason most conservatives and Republicans have problems with Obama is the President shows zero inkling towards wanting to meet them halfway. At some level, Mr. Obama will have to realize that bashing your opposition can and will backfire.

Americans voted for Mr. Obama because President Bush basically went silent during the last 2 years of his last term. He also did not do a good job of putting PR people in his cabinet that could carry the messages of the day from the White House. The combination of this and his unwillingness to go personally after liberals on the Iraq war cost the Republicans any chance at victory in 2008. John McCain being chosen as the nominee was the straw that broke the camel’s back.

I’m not going to repeat the often spoken criticism that Obama is a socalist or a Marxist. I’ll leave that for you and history to decide. But, Obama will have to figure out how to govern from the center, or face a big correction in 2010 when the House gains a number of Republican seats and he loses several seats in the Senate.

Meantime, we all have an obligation to insist that the government as a whole stop the process of doing things that are counter-intuitive:

  1. Proposing healthcare legislation that is going to add $1 trillion to the debt, over and above what has already been allocated.  In other words, we start Fiscal Year 2010 in October with the government running a $2 trillion deficit.  Now, add $1 trillion on top of that during the next 10 years.  Sure, it is only $100 billion average a year, but even the Congressional budget office says that the proposed plan will NOT insure everyone it is supposed to.  About half the pool of uninsured people will still be left out in the cold.  Seems like an expensive $1 trillion to spend…
  2. Pushing the secured creditors to the back of the line at GM and Chrysler during the bailouts so that the government and unions could take first and second position respectively in equity.  The bond holders had contracts with GM and Chrysler which were nullified, effectively.  The Supreme Court was asked to step in and declined to.  So, firemen, teachers and other public services workers, plus ordinary Americans who had bonds invested (which are supposed to be a good hedge against risk) now are left with essentially nothing.  Someone remind me again if you choose to diversify AWAY from stocks into bonds, you usually PRESERVE your assets.  When did that little rule of economics go out the window???
  3. The government also shows little inclination to address the fact that tax rates here in the US are beginning to exceed those in Europe. Over time, this will lead to US companies setting up in Europe, or offshore.  Even if they pay taxes to re-patriate income from overseas, many companies will still come out ahead. In fact, with the spectre of inflation coming back… The dollar is going to lose purchasing power, providing an incentive for corporations to locate to other regions where the organic currency goes farther than the dollar.

So, that’s the evening update for today.  Keep an eye on these stories by coming back here.  Thanks for dropping in.

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