6
POPSWith Health Bill, Obama Has Sown The Seeds of a Budget Crisis
..... was for political glory, not financial gain. Let's be clear. A "budget crisis" is not some minor accounting exercise. It's a wrenching political, social and economic upheaval. Large deficits and rising debt -- the accumulation of past deficits -- spook investors, leading to higher interest rates on government loans. The higher rates expand the budget deficit and further unnerve investors. To reverse this calamitous cycle, the government has to cut spending deeply or raise taxes sharply. Lower spending and higher taxes in turn depress the economy and lead to higher unemployment. Not pretty. Greece is experiencing such a crisis. Until recently, conventional wisdom held that only developing countries -- managed ineptly -- were candidates for true budget crises. No more. Most wealthy societies with aging populations, including the United States, face big gaps between their spending promises and their tax bases. No one in Congress could be unaware of this.
0
POPSBaby Boomers: The Millennial Generation Is Getting Clobbered | Robert J. Samuelson - Newsweek.com Baby Boomers, do you have any idea of how we baby boomers think differently than Millennials? Can you think of some reasons why it is important to spend more time thinking about how we differ and how we can support one another? This article will give you some insights and trigger some questions about having better communications. Shallie Bey Smarter Small Business Blog ( http://businessrebirth.blogspot.com ) Follow me on Twitter ( http://www.twitter.com/ShallieBey )
3
POPSGood Intentions with Disastrous Effects
But fraud and corruption are only part of the failed system that is Medicare – the other is basic accounting. In this morning’s Washington Post, Robert J. Samuelson compares the troubles with Medicare to the “public option,” which he calls a “mirage,” that is gaining strength in Congress. While Medicare is a monopoly, the proposed government-run health insurance plan seeks to attract investment capital to subsidize the enormous costs that it will incur (such as marketing campaigns). If this fails, which it undoubtedly would, Congress would step in to bail it out. When asked why it has taken Medicare so long to figure out they were being scammed, Attorney General Eric Holder told CBS’s Steve Kroft, "I think lack of resources probably. And then I think people I don't think necessarily thought that something as well intentioned as Medicare and Medicaid would necessarily attract fraudsters. But I think we have to understand that it certainly has." Good Intentions maybe but...
2
POPS Presidential Double-Talk The gap between Obama rhetoric and Obama reality is not confined to the budget. Nor are the consequences. Since the start of 2009, the stock market has declined 23.68 percent (through March 6), a paper loss of $2.6 trillion, says Wilshire Associates. The Wall Street Journal's editorial page attributes all the decline to Obama's policies. That's unfair; the economy's continuing deterioration explains much of the fall. Still, Obama isn't blameless. Obama says he's focused singlemindedly on reviving the economy, but he's also using the crisis as a vehicle to advance an ambitious long-term agenda to reengineer the U.S. economy. The two sometimes collide. Many of these extended projects (high-speed rail, computerized medical records) can't be accomplished quickly. When Congress debates Obama's sweeping health-care and energy proposals, industries, regions and governmental philosophies will clash. Will this improve confidence? Reduce uncertainty? by Robert J. Samuelson
3
POPSRe: Common Sense From Samuelson Mark Steyn Robert Samuelson's argument is so self-evident no politician can ever state it. A couple of weeks back, Statistics Canada reported that, after adjustment for inflation, Canadian wage-earners are earning less than in 1980. When advanced economies admit ever larger numbers of unskilled workers (plus a chain of relatives through "family reunification"), they are importing poverty. The President says this is to do "the jobs Americans won't do". For the sake of argument, take him at his word. So why won't Americans do them? Because they're a great way to ensure you live in poverty. So we import foreigners to be our poor people. Can we import just the right number to ensure that poverty doesn't "grow"? Unlikely. There are arguments to be made both for and against immigration, but you can't be in favor of mass unskilled immigration and then pledge to fight the "war on poverty". It's like spooning out a bathtub with a thimble while leaving the faucets running. corner.nationalreview.com
5
POPSChange from what? The World hasn't tried Statism before? We haven't tried big government before? McCain: " I will not sign a bill with earmarks in it, any earmarks." Obama: I support an "integrity in earmarks" reform bill. Which one is change?
3
Pops
Newest Clips
Latest Comments
Most Pops
Print
Save
Turn on live update