More quotes on Obamacare

2 quotes for today

Because they lack the bargaining power that large businesses have and face higher administrative costs per person, small businesses pay up to 18 percent more for the very same health insurance plans – costs that eat into their profits and get passed on to their employees.

As a result, small businesses are much less likely to offer health insurance. Those that do tend to have less generous plans. In a recent survey, one third of small businesses reported cutting benefits. Many have dropped coverage altogether. And many have shed jobs, or shut their doors entirely.

This is unsustainable, it’s unacceptable, and it’s going to change when I sign health insurance reform into law.
President Barack Obama Weekly Address to the Nation 7/25/2009 Available at www.whitehouse.gov/

When I take this bill to the floor, it will win. But we will move forward

Speaker of the House Nancy Pelosi on CNN State of the Union July 26, 2009 Transcript available here.

First, I am absolutely delighted that President Obama realizes the importance of small business in the American economy. He cites a rather long study by the Council Of Economic Advisers to support his concern. The report is also available at whitehouse.gov. It is dated July 25, 2009 the day he gave his weekly address. Too bad the CAE didn't publish it sooner, I'm certain it would have dispelled any and all concerns about a negative impact of health care on small businesses. (slight sarcasm!)

For Speaker Pelosi, a point of clarification please. You stated that when you take the bill to the house floor you will win, which I presume is your goal. Then you say "But we will move forward." The way I interpret this remark is that the health care bill is a move backward, if you move forward after it is passed by the house.

And now a question for both of you. Imagine you are not professional politicians for a moment but small business owners. Which would be easier for you to understand and comply with, a bill that is 10 pages long, 100 pages long or 1000 pages, the length of the current Health Care Reform Bill? Do you see my point? I believe you will have better success if you break it up and try to get the least expensive and burdensome parts of the bill passed first. But then, what would I know? I'm not a professional politician.

Great News for health care reform!

Senate majority leader Harry Reid (Dem-Nevada) announced today there will be no vote on President Obama's requested health care legislation before the summer recess. Thank goodness for this decision. There is still some sanity left in Congress. As I stated earlier, the USA has gotten by without the so-called direly needed health care reforms, we can get by a little bit longer. Again, I remind President Obama he still has 3 years left to do this. A little more deliberation and negotiation will only make it better not worse.

Good news/bad news on health care reform

First the good news. President Obama is trying to have medicare reimbursement rates and policies decided by a commission of health care experts. Right now rates are being set by members of congress. Congressional use of medicare reimbursements as pork is a major cause of the increases in medicare costs. Obama's chief of staff, Rahm Emanuel described this as "the least talked-about, most important issue on the table." (Washington Post Com July 16 2009. "Obama Eyes The Purse Strings for Medicare") On this issue the Obama administration has my full support. Anything is better than setting reimbursement rates with a committee of 535.

The bad news came from testimony by the Congressional Budget Office Director today before the Senate Budget Committee. Douglas Elmendorf said there was nothing in the current bills that slow down the rate of federal spending for health care. Instead of bending the cost curve downward, a goal of health care reform, it will actually raise the rate of federal spending on health care. Here is a snippet of the questions Mr. Elmendorf had to face today. This is from the committee chairman, Kent Conrad (D-N.D.) As quoted from the Washington Post.Com July 16, 2009 "CBO Chief criticizes Democrats health reform measures":

"I'm going to really put you on the spot," Conrad told Elmendorf. "From what you have seen from the products of the committees that have reported, do you see a successful effort being mounted to bend the long-term cost curve?"Elmendorf responded: "No, Mr. Chairman."

I cannot add anything to his response. No means no, what else is there to say. Time to go back to the drawing board.

How to kill 2 birds with no stones

During the recent Maersk Alabama piracy incident, I had a real brain storm. Since the US Government (AKA American taxpayers) is a major funder of the various and sundry plans to bail out/stimulate the economy, let's save them some money. Rather than set up this elaborate public private investment plan, let's cut out a few of the middle men/women and a few layers of regulatory bureaucracy all at once. Just take the absolute worst of the Legacy loans & securities (FKA toxic assets) & sell them off to the pirates (or their ransom victims) for ransom. The Somali pirates consider themselves voluntary coast guard to protect Somali waters from foreign fishing trawlers and toxic waste dumpers. Selling them legacy assets is not much of a reach beyond volunteer coast guardsmen. Remember, the pirates seized the Maersk Alabama, a loaded container ship which is not easily mistaken for a fishing trawler. The fact that the Maersk Alabama was carrying tons of food aid for Kenya, Mozambique and Somalia really makes the volunteer coast guard defense really indefensible. The millions of dollars received as ransom for seized ships speaks for itself.

President Obama should consider putting Bernie Madoff on a work release program to promote the idea to the Somalis. The possibilities are endless. Since the worst of these legacy assets are only suitable for extreme speculative investing or wrapping fish, the Somalis should get better use out of the assets than most nations or investors.