obama economy change

Passing health reform could be a nightmare for Obama

Barack Obama’s quest for historic health-care legislation has turned into a parody of leadership. We usually associate presidential leadership with the pursuit of goals that, though initially unpopular, serve America’s long-term interests. Obama has reversed this. He’s championing increasingly unpopular legislation that threatens the country’s long-term interests. “This isn’t about me,” he likes to say, “I have great health insurance.” But of course, it is about him: about the legacy he covets as the president who achieved “universal” health insurance. He’ll be disappointed. Even if Congress passes legislation — a good bet — the finished product will fall far short of Obama’s extravagant promises. It will not cover everyone. It will not control costs. It will worsen the budget outlook. It will lead to higher taxes. It will disrupt how, or whether, companies provide insurance for their workers. As the real-life (as opposed to rhetorical) consequences unfold, they will rebut Obama’s claim that he has “solved” the health-care problem. His reputation will suffer.

It already has. Despite Obama’s eloquence and command of the airwaves, public suspicions are rising. In April, 57 percent of Americans approved of his “handling of health care” and 29 percent disapproved, reports the Post-ABC News poll; in the latest survey, 44 percent approved and 53 percent disapproved. About half worried that their care would deteriorate and that health costs would rise.

These fears are well-grounded. The various health-care proposals represent atrocious legislation. To be sure, they would provide insurance to 30 million or more Americans by 2019. People would enjoy more security. But even these gains must be qualified. Some of the newly insured will get healthier, but how many and by how much is unclear. The uninsured now receive 50 to 70 percent as much care as the insured. The administration argues that today’s system has massive waste. If so, greater participation in the waste by the newly insured may not make them much better off.

The remaining uninsured may also exceed estimates. Under the Senate bill, they would total 24 million in 2019, reckons Richard Foster, chief actuary of the Centers for Medicare & Medicaid Services. But a wild card is immigration. From 1999 to 2008, about 60 percent of the increase in the uninsured occurred among Hispanics. That was related to immigrants and their children (many American-born). Most illegal immigrants aren’t covered by Obama’s proposal. If we don’t curb immigration of the poor and unskilled — people who can’t afford insurance — Obama’s program will be less effective and more expensive than estimated. Hardly anyone mentions immigrants’ impact, because it seems insensitive.

Meanwhile, the health-care proposals would impose substantial costs. Remember: The country already faces huge increases in federal spending and taxes or deficits because an aging population will receive more Social Security and Medicare. Projections the Congressional Budget Office made in 2007 suggested that federal spending might rise almost 50 percent by 2030 as a share of the economy (gross domestic product). Since that estimate, the recession and massive deficits have further bloated the national debt.

Obama’s plan might add almost an additional $1 trillion in spending over a decade — and more later. Even if this is fully covered, as Obama contends, by higher taxes and cuts in Medicare reimbursements, this revenue could have been used to cut the existing deficits. But the odds are that the new spending isn’t fully covered, because Congress might reverse some Medicare reductions before they take effect. Projected savings seem “unrealistic,” says Foster. Similarly, the legislation creates a voluntary long-term care insurance program that’s supposedly paid by private premiums. Foster suspects it’s “unsustainable,” suggesting a need for big federal subsidies.

Obama’s overhaul would also change how private firms insure workers. Perhaps 18 million workers could lose coverage and 16 million gain it, as companies adapt to new regulations and subsidies, estimates the Lewin Group, a consulting firm. Private insurers argue that premiums in the individual and small-group markets, where many workers would end up, might rise an extra 25 to 50 percent over a decade. The administration and the CBO disagree. The dispute underlines the bills’ immense uncertainties. As for cost control, even generous estimates have health spending growing faster than the economy. Changing that is the first imperative of sensible policy.

So Obama’s plan amounts to this: partial coverage of the uninsured; modest improvements (possibly) in their health; sizable budgetary costs worsening a bleak outlook; significant, unpredictable changes in insurance markets; weak spending control. This is a bad bargain. Health benefits are overstated, long-term economic costs understated. The country would be the worse for this legislation’s passage. What it’s become is an exercise in political symbolism: Obama’s self-indulgent crusade to seize the liberal holy grail of “universal coverage.” What it’s not is leadership.

About the Author

Quoting & Saving just got easier…Easy To Insure ME Health Insurance Quotes… Quote all carriers in seconds

Health insurance
Health insurance quotes

What Candidate Will Do The Most To Change Economy For The Better,Obama Or Mccain?

What Candidate Will Do The Most To Change Economy For The Better,Obama Or Mccain?

Senator Obama!!! The Right is spreading lies about Obama’s plan. McCain tax’s plan is for the wealthies and big coporation. Plus, he wants you to pay taxes on your health care insurance. }{

FYI,

Overall, Sen. Obama’s middle-class tax cuts are larger than his partial rollbacks for families earning over $250,000, making the proposal as a whole a net tax cut and reducing revenues to less than 18.2% of GDP — the level of taxes that prevailed under President Reagan.

Both candidates for president have proposed tax plans. But they are starkly different in their approaches and their economic impact. Sen. Obama is focused on cutting taxes for middle-class families and small businesses, and investing in key areas like health, innovation and education. He would do this while cutting unnecessary spending, paying for his proposals and bringing down the budget deficit.

In contrast, John McCain offers what would essentially be a third Bush term, with his economic speeches outlining $3.4 trillion of tax cuts over 10 years beyond what President Bush has already proposed and geared even more to high-income earners. The McCain plan would lead to deficits the likes of which we have never seen in this country. It would take money from the middle class and from future generations so that the wealthy can live better today.

Sen. Obama believes a focus on the middle class is appropriate in the wake of the first economic expansion on record where the typical family’s income fell by almost $1,000. The Obama plan would cut taxes for 95% of workers and their families with a tax cut of $500 for workers or $1,000 for working couples. In addition, Sen. Obama is proposing tax cuts for low- and middle-income seniors, homeowners, the uninsured, and families sending a child to college or looking to save and accumulate wealth.

http://online.wsj.com/article/SB12186720…

(1000) WHOLESALE ANTI OBAMA BUMPER STICKERS~OOPS! (c) HIGH QUALITY VINYL!

$415.80

(500) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL!

$251.96

Conservative Bumper Sticker Ultimate Collection! 350+, Anti Obama Stickers!

$199.00

Anti Obama Bumper Sticker MULTI-PACK 125+ pcs!

$149.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ T

$140.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ U

$140.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ V

$140.00

(250) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL!

$134.36

LOT OF 12 NEW ANTI OBAMA T SHIRTS 2 S 2 M 4 L 4 XL

$119.00

Anti Obama “Nobama” bumper sticker (lot of 50 stickers)

$99.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ Q

$75.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ R

$75.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ S

$75.00

10 Recycle anti Obama T-shirts republican WHOLESALE

$74.99

1-20-13 anti Obama conservative 10 T-shirts WHOLESALE

$74.99

NEW Obamao anti against Obama 10 T-shirts WHOLESALE

$74.99

NObama 10 T-shirts WHOLESALE anti against Obama S-3X

$74.99

NOPE 10 T-shirts WHOLESALE anti Obama S-3X conservative

$74.99

President Ronald Reagan Bills – 250 Pack – Capitalist Conservative Anti Obama

$69.95

Anti Obama “Nobama” bumper sticker (lot of 30 stickers)

$60.00

(20) 1-20-13 / NOPE anti Obama bumper stickers

$59.99

(100) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c)

$58.76

NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt

$49.95

Anti Obama Black T-Shirt, with hand painted universal NO symbol!

$45.99

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ N

$45.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ O

$45.00

Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ P

$45.00

NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt

$44.95

Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie

$44.95

NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt

$43.95

NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt

$41.95

Anti Barack Obama OMG Must Go Funny T-Shirt Hoodie

$40.45

Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie

$40.45

Barack Obama Countdown Clock

$6.13

This Barack Obama Countdown Clock is the perfect gift for those who simply can’t wait until Obama is out of office! Are you frustrated with the current administration? Are you not stimulated by the President’s stimulus package? Instead of rioting and taking to the streets, know how many days are left before he is out of office. With this Obama countdown clock, every measurement from years to secon…

NoBama Hopey Changey Anti-Obama Mug

$15.95

Express your opinion on your coffee mug!…

I WAS ANTI OBAMA BEFORE IT WAS COOL Political 1.25 MAGNET ~ Barack

$0.01

These magnets are manufactured from the highest quality materials, made of a hard metal base, thick mylar, strong magnet and true to life vibrant colors. Put them on your refrigerator, locker, file cabinet or any metal object you can think of! Magnets are great party favors for your next gathering and also make great prizes/giveaways. They are wonderful gifts for everyone!…

Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — White 8in X 9.2in

$8.70

Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker White 8in X 9.2in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like white…

WIPE OUT OBAMA-FUNNY TOILET PAPER-MADE IN THE USA!!

$6.95

Wipe Out Obama Toilet Paper- Jumbo rolls with 450 sheets on each roll. He wiped up the Presidential election and now you can use him to wipe up your historical messes! Love him? Hate him? Either way… you’ll love this Barack Obama Funny Toilet Paper. Printed throughout the whole roll! Want to have Obama in your bathroom… YES YOU CAN have him in THE CAN!…

6in X 6.9in Black — Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker

$6.35

Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — Black 6in X 6.9in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like wh…

Change Is Gonna Come Sessions

$8.98

Bettye LaVette stole the show at President Obama’s Inaugural concert with her impassioned rendition of Sam Cooke’s “A Change Is Gonna Come,” performed with Jon Bon Jovi. Here LaVette performs the song on her own in an intimate studio setting, along with five other classic tracks by African-American songwriters, written in the spirit of change.This product is manufactured on demand using CD-R reco…