Tuesday, July 26, 2011

Tuesday Tidbits

The President gave a somber speech last night, and for good reason. Speaker Boehner's plan is a two-step plan that would force us to revisit the debt ceiling only 6-8 months from now. Does anybody think it's a good idea to maintain this level of instability for another 6 months or so? The credit rating agencies may still downgrade the US if we adopt only a short-term fix. Majority Leader Reid's plan -- which involves cutting spending and no new revenue -- appears to be dead on arrival, although it's exactly what the GOP has been asking for. But now the GOP wants a balanced budget amendment; the conservatives in the House oppose Boehner's plan. Neither the Dems nor the GOP may have the votes out of this stalemate. We have 7 days left -- they can't write legislation for entitlement reform by then. Every day, we inch closer to calamity. The parties came close to a deal last week, but it looks like any chance for large-scale reform has passed. What ever happened to the art of the deal? Many -- especially the far right -- take pride in blocking any compromise. There was a time when compromise was a prized skill. Now, it's all about who get the blame for this mess. They're rocking the world's economy and chancing our own fragile markets and for them, it's all about politics -- who wins the next presidential election -- not about what's right for the American people. Americans are sick of it.

The President asked that we contact our members of Congress if we prefer a balanced approach that includes revenue and spending cuts, so the richest Americans and the corporations they run also contribute to spending down the debt. You can find your Senators here. You can find your member of the House here. Don't assume your call won't matter -- they are counting the calls they get, and you can be sure they matter.

Meanwhile, the feds are going to start auditing the health insurance premium rate review process of 10 states to see if they're up to par. Seven states -- Alabama, Arizona, Idaho, Louisiana, Missouri, Montana and Wyoming -- have no rate review process in place at all. In Iowa, Pennsylvania and Virginia, the feds will only look at small group rates.

A rock band comprised of gynecologic oncologists? Yup. N.E.D. (no evidence of disease) is a rock band made up of doctors who treat cancer. They do it to raise awareness about gynecologic cancers. But I think they like dressing up like rock stars, too.

Emergency rooms haven't done a great job of addressing pain, but that may be changing.

Chicken pox can kill. Take it seriously.

And that's this morning's news. Scary times we are living in. I am no economist and my opinions are just opinions, but I'm pretty sure it's a bad idea to have to go through this same misery 6 months from now. What do you think? Jennifer

1 comment:

  1. I agree, a crazy idea. If I was running a business and knew I was having some financial difficulties, would I tell my creditors I was only looking at solving my problems short term and in 6 months I'm planning on and creating an opportunity for instability again. Along with frustrating and angering my customers again by telling them I might not be able to deliver what was promised. I think my creditors and customers would put me out of business. That's how I see it. Bad idea.

    Another bad idea, not addressing revenue. Let's say my business is having financial problems. Most small business owners will and have taken pay decreases to keep their business afloat, they would cut employee expenses if sales were down, but wouldn't cut so much as to be caught with their pants down when/if a sales order came in, so it would be a balanced approach. Cutting his pay is the same as increasing revenue.

    The sad part of this whole thing is not only have the wealthy received a huge tax break, they have also given themselves huge pay increases, which is counter to what most business owners would do to save their business. I see those who have increased their pay, while also receiving tax breaks on a mission of greed that takes the health and safety of the country lightly.