Update: Consumer Protections and subsidies in Senate Bill do not begin until 2013; Preliminary CBO score in for Reid bill- Dems meeting; Reconciliation push and Public Option in health care dead in Senate or head-fake?
Update 4: 7:16 pm EST: Carrie Budoff-Brown has some numbers from Sen Conrad:
..Unlike the House bill, there’s no surtax on the wealthy, but it does include a Medicare payroll tax of 1.95 percent on couples who earn more than $250,000 annually. The threshold for the high-end insurance tax was bumped up to apply to plans that cost more than $23,000 annually for families and $8,500 for individuals. That’s an increase from $21,000 and $8,000 respectively.
The reimbursement rates for the public plan will not be tied to Medicare, and co-ops, Conrad’s brainchild, will still be offered. And finally, the bill will include the CLASS Act, a long-term insurance program for the disabled, but will not use the revenue from the program to help pay for the bill, a move that should assuage moderates’ fiscal concerns…
Update 3: 7:05pm EST Sen Kent Conrad says Senate bill taxes high dollar insurance plans (no dollar given and this will be key- IS IT INDEXED TO INFLATION??? Cause if not, it is a trap like the AMT to make it look good to CBO but it will catch the middle class as we go forward) and Conrad also says it will raise the Medicare Payroll tax for high earners. I assume, lol, they mean on the Medicare payroll tax that they will extend that tax to NON EARNED INCOME since high dollar earners don’t earn most of their income in a ‘payroll’ form per se.
Update 2: 6:43pm EST: Reid at the podium now, a FOX reporter said there will be a public option and states will have to offer two options one with and one without abortion.
WSJ has the CBO scoring here:
…Mr. Reid’s bill would gradually extend health-insurance coverage to nearly all Americans by providing government subsidies to help pay premiums. Starting in 2013, it would ban insurance company practices such as charging more to those in poor health, or denying them coverage altogether.
Consumer protections do not begin until 2013!? Oh boy that won’t go over well with the left.
All Americans would be required to carry health insurance, either through an employer, a government plan or by purchasing it on their own. The Medicaid health insurance program for low-income people would be significantly expanded.
The bill would set up new insurance marketplaces — called exchanges — primarily for those who now have a hard time getting or keeping coverage. Most people buying coverage through the exchanges would get tax credits to help cover the cost of premiums. They would be able to pick private coverage or a new government health insurance plan.
However, the government plan may not be available all across the country. Mr. Reid would allow individual states to opt out.
To keep down costs, the government subsidies and consumer protections don’t take effect until 2013. During the three-year transition, Mr. Reid’s bill would create a federal fund to help provide affordable coverage for people with medical problems turned down by private insurers in the meantime.
The majority of Americans who now have employer-provided health insurance would not see major changes. Among the exceptions to that rule: Children would be allowed to stay on their parents’ health insurance until their mid-20s…
FOX reporting Reid is unveiling his health care bill for the Senate Dems behind closed doors tonight, he has a preliminary CBO score. Reid’s aides indicate 849B over 10 yrs, govt run option with state opt out included, and somehow it will magically cut the deficit 127b in the first 10 years..let’s see what they say when they come out of the meeting…
RedState picks up the CQ word that reconciliation is dead in the Senate and deals are all on the table, Sounds AWESOME but I am worried it is a head fake…
I agree with RedState that it would be smart for the Dem leadership to cut a deal on this since Obama got a talking to in China about the impact of the health care bill on the deficit, and word on the street is the oncoming UE jump to 11% and the extended length of UE is likely to be so bad that they must do another ginormous stimulus asap, voters will be pixxed and they don’t need an extended fight on health care right before Son of Stimulus. The economic clock ran out on them, thanks to their own stupidity in writing the stimulus I which had an infinitesimal amount of infrastrucutre in it, the ads for the GOP in 2010 write themselves:
Senate Democrats have abandoned plans to use a fast-track parliamentary strategy to avert a threatened Republican filibuster and pass a health care overhaul — a signal that they are considering major policy concessions to moderates...The most significant of these could be restructuring or dropping altogether a proposed government-run insurance plan — the so-called public option — that many liberals consider a necessary part of the overhaul.
One possible fallback is a proposal by Thomas R. Carper, D-Del., to create a government-sanctioned insurance plan that would be available only in states deemed to lack affordable private insurance plans. Under Carper’s plan, the insurance plan would be structured as a private nonprofit entity, run by a board appointed by the president and confirmed by the Senate…
But Democratic leaders had used the threat of reconciliation to try to corral support for the health care bill from moderates in both parties. That tactic largely failed.
“I think the more people studied [reconciliation], the more people realized that is not a very good way to do substantive legislation,” said Budget Chairman Kent Conrad, D-N.D…
In a meeting Nov. 16 with Democrats who support a Medicare-like public option, Majority Leader Harry Reid, D-Nev., indicated that he did not plan to try to move a health bill through reconciliation, other Democrats said.
“I’m not going to quote him, but suffice to say, after the meeting was over I thought it was unlikely,” said Bob Casey, D-Pa.
Regan LaChapelle, a spokeswoman for Reid, said, “We are not ruling anything out, but Sen. Reid is continuing to work to put together a bill that will garner the 60 votes needed to overcome a Republican filibuster…”…
The most over-regulated, over budget state in the nation has just added yet another bunch of regulations as they wonder why oh why they cannot create jobs and people are fleeing….
The state that revolves around HOLLYWOOD and CELEBRITY, banning BIG TVs, ironic eh? The state booming from TECHNOLOGICAL ADVANCEMENT Silicon Valley anyone? is killing a booming technology because they are afraid the tvs will consumer more energy in the future. This entirely ignores PROGRESS in economies of scale. We all used to have giant clunky console TVs in the 50s now they hang on the wall and use a helluva lot less energy! All without the urge to greenify. Sony managed to make tiny little transistors smaller and smaller before the Green Religion. These fools are killing the golden goose, now people in other states and other countries will get the jobs…
Power-hungry TV sets will be banned from store shelves in California after state regulators adopted a first-in-the nation mandate to lower electricity demand.On a unanimous vote, the California Energy Commission on Wednesday required all new televisions up to 58 inches to be more energy efficient beginning in 2011. The requirement will be tougher in 2013, and only a quarter of all TV sets on the market now meet that standard.
The California Energy Commission estimates that TV sets account for about 10% of a home’s electricity use. The concern is that the energy draw will rise by as much as 8% a year as consumers buy larger televisions, add more to their homes and watch them more often.
Added bonus! This will really screw the retailers this Chrxstmas! Big screen TVs are like what? the number ONE seller? Now many people will say wait, if they will be more efficient in 2011 I should WAIT to make that purchase. I know I did that with my a/c unit when they changed those codes.
So at least some people who WOULD HAVE made a LARGE PURCHASE now for Holiday sales (which are UBER important to our economy and consumer confidence), will not. Way to promote the economy and consumer spending California you frakkin idiots!
I am a big Joss fan and love Firefly but I really think Dr Horrible is my favorite.
Courtesy of kariknaroli:
By a Friend’s Request: Dr. Horrible’s Sing Along Blog.
Dr. Horrible’s Sing Along Blog belongs to Joss Whedon. I’m Just spreading the love since Hulu doesn’t work outside of the US and the only thing I get in return is fangirl squeeness.
On the DVD, the ELE warning that flashes on the screen during the FBI warning reads “This video disc is designated for Evil purposes only, and any and all non-evil use will result in immediate self-hatred. Evil Rule of Evil #24B states that any and all infringements constitute an Extreme Offense with the maximum penalty of up to five nails driven into the offending skull and a $250,000 fire. DON’T BE A HERO!”
Acts II and III after the break:
More good news from Dr Doom: infrastructure stimulus needed as UE in US to hit 11% and stay there for years…
Nouriel Roubini has more gloom for us, we at MiM agree with his forecast. The fact that we spent 1 trillion and still have no meaningful job-creating frakkin infrastructure happening is really so irresponsible as to rise to the morally reprehensible IMO, the Congress Critters who let this stimulus go through and created no jobs should ALL , every one who voted yes, be voted out in 2010.
NY Daily News Op-Ed, h.t Drudge:
(…) So we can expect that job losses will continue until the end of 2010 at the earliest. In other words, if you are unemployed and looking for work and just waiting for the economy to turn the corner, you had better hunker down. All the economic numbers suggest this will take a while. The jobs just are not coming back.
There’s really just one hope for our leaders to turn things around: a bold prescription that increases the fiscal stimulus with another round of labor-intensive, shovel-ready infrastructure projects, helps fiscally strapped state and local governments and provides a temporary tax credit to the private sector to hire more workers. Helping the unemployed just by extending unemployment benefits is necessary not sufficient; it leads to persistent unemployment rather than job creation.
The long-term picture for workers and families is even worse than current job loss numbers alone would suggest. Now as a way of sharing the pain, many firms are telling their workers to cut hours, take furloughs and accept lower wages. Specifically, that fall in hours worked is equivalent to another 3 million full time jobs lost on top of the 7.5 million jobs formally lost.
This is very bad news but we must face facts. Many of the lost jobs are gone forever, including construction jobs, finance jobs and manufacturing jobs. Recent studies suggest that a quarter of U.S. jobs are fully out-sourceable over time to other countries.
Other measures tell the same ugly story: The average length of unemployment is at an all time high; the ratio of job applicants to vacancies is 6 to 1; initial claims are down but continued claims are very high and now millions of unemployed are resorting to the exceptional extended unemployment benefits programs and are staying in them longer.
Based on my best judgment, it is most likely that the unemployment rate will peak close to 11% and will remain at a very high level for two years or more.
The weakness in labor markets and the sharp fall in labor income ensure a weak recovery of private consumption and an anemic recovery of the economy, and increases the risk of a double dip recession.
As a result of these terribly weak labor markets, we can expect weak recovery of consumption and economic growth; larger budget deficits; greater delinquencies in residential and commercial real estate and greater fall in home and commercial real estate prices; greater losses for banks and financial institutions on residential and commercial real estate mortgages, and in credit cards, auto loans and student loans and thus a greater rate of failures of banks; and greater protectionist pressures.
The damage will be extensive and severe unless bold policy action is undertaken now.
Fed head Bullard made noises about not raising rates until..wait for it, 2012! huh? the US Dollar dxy drops under 75 in reaction and Goooold back on a tear, another record $1150.50 an oz..
you know what that means….it’s Bassey time!!!
Courtesy of sveta14:
Queen’s Golden Jubilee.
3 june 2002,
Phil Collins on the drums
Funny how he goes to see our bankers in China and is suddenly oh so concerned about overspending and a double dip aint it? yeah. Maybe next Tea Party we should write our signs in Mandarin and he will pay attention?
Update: Obama ‘Too much debt could fuel double dip recession’ ANOTHER keeper for the NO SHXT SHERLOCK FILES!!!!! But keep ramming that health care bill through fer shure, frakkers.
…It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said. Fox News, which released a transcript of the interview, showed that comment by Obama on Wednesday morning and said the full discussion would be broadcast later in the day.
A-HA!!! J-accuse!! Knew it, Dammit!! MiM has been all over this double dip for A YEAR!! Arrgle!! and the fools KEEP SPENDING!!
Fox and friends played a snippet of tonights interview with Major Garrett and Obama in China and Obama mentioned the double dip! this can only mean IMO that they have already told him we WILL have a double dip.
dammit! they should NOT BE PASSING THIS HEALTHCARE BILL!!! AND China has CLEARLY laid down the law on the deficit! Are YOU ready for higher taxes?!?! They are going to pass this trillion and then raise all our taxes to keep China happy!!! ARRRRRRGGGLLEEE!!!!
Lookee where we will be BEFORE the new taxes to keep China happy and holding our debt:
Here is the team of GENIUSES who got us here, including Timmeh Geithner who People Magazine actually voted one of the top 100 best looking people, a frakkin CLUE there was a mass delusion in the media:
9/11 Firefighter Tim Brown just appeared on Fox and Friends with over 100,000 signatures on theBravest.com petition to stop the NYC 9/11 conspirator trials. Tim and 9/11 families and supporters will be protesting outside the event where AG Eric Holder is testifying today and are delivering the petition in person. Please go to theBravest.com to read the petition and sign if you agree with it’s sentiments.
The NY Post has a summary of the post announcement polling and the decision is dividing the country:
…A Marist poll of Big Apple residents found that 45 percent believed that trying Khalid Sheik Mohammed and four co-conspirators in the city was a good idea, while 41 percent thought it was a bad idea.
A Washington Post/ABC News poll of US residents showed an even narrower gap — 47 percent of the respondents said the 9/11 defendants should be tried in the federal court system, while 48 percent preferred military tribunals.
But a third poll released yesterday by Rasmussen showed that 51 percent of Americans are opposed to trying the terror plotters in the United States. Only 29 percent favor the Obama administration’s decision to try them in the US, that poll found.