In-Depth Look – Impact Of Obama’s Regulation Reform On Banks – Bloomberg
Interview and discussion with Paul Miller of the F.B.R. Capital Markets. He gives his thoughts on the Obama’s financial regulation reform in banks. (Bloomberg News)
Really interesting, Miller notes the states will now be able to enforce their own regulatory reforms on the banks at the state level, something heretofore undone…..
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Republicans outline health plan – Alex Isenstadt – POLITICO.com
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TOTUS Tossin’ and Turnin’ All Night….
President Barack Obama said on Tuesday that worrying about the U.S. government’s finances “keeps me awake at night” and the country needed to start planning now to tackle soaring deficits.
BWAAAAAHAAAAAAA!!! AS IF!!! BWAAAAHAAAAAA!!!!
In a pair of interviews on CNBC and Bloomberg television, Obama defended increasing government spending to prevent the recession from worsening, and warned the unemployment rate may hit 10 percent this year, a level not seen since 1983.
“There’s no doubt that we’ve got a serious problem in terms of our long-term deficits and debt,” he told CNBC. “I make no apologies for having acted short term to deal with our recession.”
But he said once the recession ends, “we’re going to have to close that gap between the amount of money coming in and the amount of money going out.”..
How do YOU think he plans to ‘close that gap’? Taxes baby taxes…and does this ANGST over the deficit make him slow spending? of course not! Full Steam Ahead on another 2 trillion!!!
Senate sources say the latest cost estimates for health care legislation are around $1.6 trillion over 10 years. Two Senate staffers, one Democratic and one Republican, said Congressional Budget Office estimates put the cost of the Finance Committee version of the bill at around $1.6 trillion.
A third staffer, a Finance Committee Democratic aide, indicated committee members are working to lower the cost to less than $1 trillion over 10 years, a level preferred by the Obama administration.
He would prefer a mere 1 trillion added to the deficit, let’s get that graph again, the one WITHOUT the GINORMOUS Health Plan added in, just to see where we are BEFORE the health spending:
What is that waaay over on the left...oh yeah a SURPLUS...
WE CANNOT AFFORD THIS, Call your Congress Critters now AND AFTER the ABC Pravda show….
Market Mover Wednesday: CPI Rises Less Than Expected, Up 0.1% in May – CNBC.com
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Megan McArdle: Health Care Cost Containment is the Laffer Curve of the Left..
…I’d say we have substantial empirical evidence that we are not going to control the health care cost inflation which is busting Medicare’s budget, much less the new costs the administration is planning to add. We have been trying to control health care costs since the 1970s made it clear that Medicare was going to get really, really expensive. And any idea that you care to name, from comparative effectiveness research to healthcare IT to preventive medicine . . . these have all been on the table for more than thirty years, under one name or another. They haven’t happened.
The answer that those promising magical cost reductions need to ask is “Why haven’t they happened?” and “What has changed to make them feasible now?” But when I ask this question, I get angry demands that I put forward my plan for cost control, rather than merely critiquing everyone else’s. This seems rather like demanding that I put forward my design for a perpetual motion machine before I am allowed to point out problems in the US energy market.
They haven’t happened because lobbying groups put the kaibosh on it, and so will patients and physicians and facilities who spend billions covering uninsured at Uncle Sam’s request already, namely Baby Boomers who are about to see their Medicare bennies GUTTED under Team TOTUS’ proposed 600 Billion in cuts..they won’t stand for it and I don’t blame them. They are trying to redistribute health care as they are housing and transfer payments…take bens from the elderly and give them to the uninsured/underinsured. That is not the way to go and it will not succeed…it will be another house of cards to come tumbling down later…
To those who say, pretty reasonably, “Why not demonstrate that you can control these costs in Medicare before asking us to believe you can do it with a broader program?” the response is something like a snapped, “But I don’t want to just control Medicare costs! I want universal coverage!” Ah. Well, Republicans don’t want to maximize tax revenue; they want to cut taxes. This does not make their now-deliberate wishful thinking any prettier. Nor obligate the rest of us to fulfill their desire at the expense of sound budget policy.
Both Medicare cost control and Republican tax cuts are like the Red Queen’s strategy in Alice in Wonderland: “Jam yesterday, and jam tomorrow, but never jam today”. They promise sweeteners to sell their favored policies, but when the day actually arrives, time and time again we’re left holding an empty jar….
ginaswo
