Riding Herd on the Financial Range - # 17
As the Great One wants a bill by the end of the week, expect a cram down of the National Health Care agenda.
7.16.2009
Howdy Folks,
There’s a lots going on out there, but I want to kick off the debate over National Health Care.
It is still the most important topic and as the Great One wants a bill by the end of the week, expect a cram down of the National Health Care agenda. Like Cap and Trade, we are likely to see this in the middle of the night, unread and unashamed. The debate on the Senate Finance Committee version begins tomorrow. Let's start with some of the basic issues aside from the glaring problem of:
1. How to fund this 1 Trillion with a T over the next 10 years by the minute amount gained from going after the "rich;” or
2. forcing a tax on medical care benefits, which will close many small businesses. The premise that you can cut costs by increasing spending is an inherently flawed theory;
3. or the government competing on a very unlevel playing field with the private sector;
4. or requiring mandatory participation;
5. or face fines of $1,000 a year per individual;
6. or more (some estimates are that this revenuer scheme could raise $36 billion dollars over 10 years); and
7. the big kahuna. Implementing a single payor system, which has not worked anywhere in the world as good as our current system.
And this is just for starters. There are a host of details that will result in killing health care as we know it, and to me, this is just another nail to take down America as we know it.
I am still researching what is in the Dodd and Teddy K bill given what was snuck into the Stimulus Bill on health care. I know there is stuff in there, as I today heard one little detail being the provision of billions of dollars to Planned Parenthood, i.e. the funding of abortion clinics funneled through an organization which wouldn't seem to need a bailout as they gross over $300 million annually.
I do not favor using tax payer dollars to fund this personal freedom, unless as result of some criminal acts, or where doing nothing would endanger the life of the mother. I do not agree with late term abortions where a fetus could live outside the womb; we all know preemies survive. I think it is also wrong to encourage or use Federal tax dollars to promote any of this as it takes away from what needs to be a personal responsibility.
Other proposals following up on the "Stimulus" are that it creates a new bureaucracy, the National Coordinator of Health Information Technology, which will monitor treatments to make sure your doctor is doing what the federal government deems appropriate and cost effective. The goal is to reduce costs and “guide” your doctor’s decisions (442, 446). Oh yeah, someone like those experienced car czars running health care like they ran Medicare and Social Security.
The bill’s health rules (445, 454, 479) will affect “every individual in the United States”. Your medical treatments will be tracked electronically by a federal system. Having electronic medical records at your fingertips, easily transferred to a hospital, which may be beneficial on one level while ramping up invasion of privacy issues. It is proposed with the idea of helping to avoid duplicate tests and errors.
The Senate dealt a blow to the drug lobby Thursday by voting to permit people in the United States to order lower-cost drugs from Canada over the Internet. The prescription drug plan, by Sen. David Vitter, R-La., passed the Senate by a 55-36 vote that added it to a $42.9 billion bill funding the Homeland Security Department. The Senate then approved the homeland security measure by a 84-6 vote Thursday night. Finally something I can agree with.
Lastly, the California Legislature now has before it a bill to legalize marijuana to help fill gaps in budget deficit. Like prohibition, when the guvmint needs money almost anything can happen. You read it here first.
Too much fun.
Your humble editor, Russ
About Russ Magarity
Jackson, Wyoming Distressed Patriot Russell Magarity and Chris Janelli, Chief Distressed Patriot, have been business associates and close friends since working together at Chase Manhattan Asia in Hong Kong. Russ grew up in Cuba and Panama and graduated from High School in Peru. He received a BA in International Relations from the University of Oklahoma (Norman), an M.B.A. from the Universidad Autonoma de Guadalajara (Mexico), and a Masters in International Management (with Distinction) from the American Graduate School of International Management (Thunderbird).
Russ spent his career with Chase running countries and managing corporate finance businesses in Brazil, Mexico, Hong Kong and throughout SE Asia. Prior to joining Chase, he served in the US Navy for 9 years first as a Midshipman and Naval Aviator. As a carrier pilot, he served 3 tours in Vietnam and flew over 250 missions.
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