Obamacare “Essential Benefits” Rendered Most Insurance Policies Obsolete
The great bait-and-switch of Obamacare (“you can keep your plan and your doctor”) was intentionally orchestrated by the architects of the legislation. There were thousands of policies offered nationwide that were good and even very good but now they can’t be sustained under the new Obamacare policy requirements. These regulations are so narrow that it intentionally made obsolete or non-compliant the vast majority of health | Read More »
Irregular Circumstances, Not Obama’s Policies, Have Reduced the Deficit So Far This Year
Obamapologists have been pointing to the shrinking budget deficit as proof that the economy is heading in the right direction. There is a sense of desperation afoot to find something, anything, that can be positive news upon which Obama can rebuild his reputation. For the non-economists out there, a declining deficit does indeed sound indicative of a healthy economic rebound. However, the main reasons for | Read More »
De Blasio and The Triborough Amendment: The Impending Fiscal Crisis in NYC
De Blasio’s recent mayoral victory was a sad day for New Yorkers. Electing him was proof that the constituency in NYC is morally, philosophically, and educationally bankrupt. And if the mayor sticks to his positions that he declared as candidate De Blasio, NYC will be financially bankrupt as well. A strong argument can be made that the entire election was a public service union push. | Read More »
Are You A Genetic Lottery Winner?
Are you a genetic lottery winner? Too bad. The legislative name for Obamacare is the Affordable Care Act. This name was chosen precisely to appeal to Americans to consider buying a health insurance plan from a government-run exchange. Who doesn’t like the idea of something that is “affordable”? By using that term, it suggested that the current system of health care was the opposite –”unafforable”. | Read More »
Whitehouse.gov Updates Obamacare Section to Include a Link to His “Regrets”, But Leaves The Original “You Can Keep Your Plan” Promise Online
Last week, I reported that the whitehouse.gov website section pertaining to Obamacare still had the “if you like your plan, you can keep it” Promise. I checked out whitehouse.gov on November 6, a few days after Obama gave a speech during which he explained that the Promise actually had qualifiers. Obama’s new Promise during that speech was: “Now, if you have or had one of | Read More »
White House Website Still Shows Original “You Can Keep Your Plan” Promise
Oopsies! The White House website (whitehouse.gov) still shows the original “If you like your health plan, you can keep it” promise. See the text here on www.whitehouse.gov/healthreform/healthcare-overview: Health Care that Works for Americans On March 23, 2010, President Obama signed the Affordable Care Act into law, putting in place comprehensive reforms that improve access to affordable health coverage for everyone and protect consumers from abusive | Read More »
The Obamapology and Animal Farm
In Animal Farm, the most important of the Seven Commandments of Animalism was the “All Animals Are Equal” Commandment. Upon this, Animalism was supposed to thrive. Later, Napoleon gains power, drives out Snowball, moves into Mr. Jones white house, sells Boxer to the glue factory, and enjoys whiskey while the animals work. Animalism is struggling to survive and suddenly, the maxim is changed. It becomes: | Read More »
84 Years Since the Black Tuesday, the Stock Market Crash of 1929
Today marks 84 years since the Great Stock Market Crash of 1929, also known as Black Tuesday. This typically is considered the beginning event of the Great Depression that lasted some 10 years in the United States. The crash itself did not cause the Depression, but rather it was an overcorrection of a stock market that was too high and too inflationary. The 1920s was | Read More »
Hurricane Sandy, Government Machinations, and Congressional Finances: One Year Later
What a year it has been since Hurricane Sandy hit the US on October 28-30, 2012. The size and scope of Superstorm Sandy is a perfect analogy of the the fiscal ineptitude that has churned up in Congress over the last year. Nearly three months after the Hurricane, the Sandy Relief bill was passed. It almost didn’t make it in Congress at all, having been | Read More »
Leviathan is Wounded. And Hungry.
In case you missed it, Harry Reid displayed the most incredible mind reading skills this past week during an interview on Nevada Public Radio. As reported by Roll Call, the Senate Majority Leader explained that, “The only people who feel there shouldn’t be more coming in to the federal government from the rich people are the Republicans in the Congress,” He went on to declare | Read More »
Are Obamacare Enrollment Pressures Unconstitutional?
As each day passes, the various facets of Obamacare are getting implemented in order to be fully operational by January 1, 2014. But we are hearing about the difficulties in the implementation caused primarily by either 1) the website fiasco; 2) low number of enrollees; and 3) people wanting to pay the penalties in order to avoid having to pay for intentionally overpriced health “insurance”. | Read More »
Detroit’s $320 Million FederalAidReliefStimulus Package
Right before the government shutdown, Detroit received a pledge for a $320 million federal “aid package”. The Obama Administration wants to make it perfectly clear: this is not a bailout. That word is too toxic during this time of fiscal instability in Washington. This is relief. A stimulus. It is a hand-up, not a hand-out, and, as the NY Times reports, this will not be | Read More »
Why Does TreasuryDirect.gov Show That Our Total Public Debt is Higher Than the Debt Ceiling?
Treasurydirect.gov has a feature called, “The Debt to the Penny and Who Holds It”. It is a government website, typically dealing with items such as savings bonds, and is separate from Treasury.gov. It shows some interesting data regarding the current debt: Current Debt 10/15/2013 Held by the Public 11,926,495,975,191.95 Intragovernmental Holdings 4,820,874,558,898.67 Total Public Debt Outstanding 16,747,370,534,090.62 Here we see that this history feature shows | Read More »
Reviving a 30 Year Old Book: “The Political Crisis of the 1850s”
Michael F. Holt’s book, The Political Crisis of the 1850′s, was written 30 years ago, but its content is eerily precient of today’s political playground. Written in 1983, Holt offered his not-so-typical thesis of why the Civil War happened. He suggested that is was not slavery, nor states rights, nor North vs South. Instead, it was the breakdown of the 2-party system of government. The | Read More »
150 Days Since the Treasury Reports Have Shown No Increase in Public Debt — But the CBO Reports Show Something Different
Monday, October 14, 2013 marks 150 days since the Treasury Department’s listing of public debt has not moved. The most current Daily Treasury report (October 10) shows “Total Public Debt Subject to Limit $ 16,699,396,000,000; Statutory Debt Limit $16,699,421,000,000.” The record for these two entries has remained unchanged since May 17, 2013, the first time it recorded the public debt at $16,699,396,000,000. Why is this | Read More »
Bush Tax Cuts vs Obamacare: Same Playbook, Different Reactions & Blame (of course)
The tactics that the Democrats used in 2012 regarding the Bush tax cuts is the same strategy being deployed by the Republicans in 2013 and Obamacare. Yet this time around, the Republicans are getting vilified for it. Let’s get this straight. In 2012, the Republicans wanted to permanently extend the “Bush tax cuts” for all. These cuts had been temporarily put in place in 2001 | Read More »
Congressional Chicken or Egg?
The Democrats (and some others) have been screaming for all the country to hear that the upcoming debt ceiling vote should not have to be. After all, once Congress passes a law that involves paying for something, and the President signs it, the country has an obligation to “pay its bills”, right? Wrong. This rationale is utter nonsense, as Congress has the sequence of events | Read More »
Government Shutdown Casualty: FLOTUS Twitter
So, the FLOTUS account on Twitter posted this yesterday So, a few questions come to mind: 1) Isn’t Twitter free? 2) If FLOTUS isn’t doing her own TWITTER (for free), can we assume the Twitter position for her is “non-essential” personnel? 3) Do we taxpayers need to be paying someone to Twitter for the FLOTUS, especially since 2 million (37%) of her followers are fake?
Obama Says, “I Shouldn’t Have to Offer Anything”. He Already Has.
On the eve of the government shutdown last night, Obama remarked that “I shouldn’t have to offer anything”, and that he’s always ready to have a conversation: “Steve when you say what can I offer? I shouldn’t have to offer anything,” Obama said. “They’re not doing me a favor by paying for things that they have already approved for the government to do. That’s part | Read More »
Obama on the Debt Ceiling in 2006 vs 2013
CNS News reported an excerpt from President Obama’s speech given on September 18 at the Business Roundtable in D.C. Obama claimed that, “Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All | Read More »
1600 Pennsylvania Avenue and 1600 Days Without a Budget
Today we have reached 1600 days without an operating budget for our country. But who’s actually counting right now? And why should we care? Currently, we have Syria at the forefront of discussion, which has put any substantive monetary debates on the back burner. Besides the question of whether or not to authorize and spend money on Syria, Congress also faces both if and how | Read More »
Dear Kevyn Orr, Emergency Manager for Detroit
Dear Mr. Orr, You have an unprecedented opportunity before you. Even though the city of Detroit is billions of dollars in debt, as the emergency manager, you have a way to dispense with one particularly enormous financial burden which has contributed greatly to the city’s fiscal insolvency. You are reportedly at at odds with the unions over the total amount that union’s two pension system | Read More »
Prevailing Wage Theory and NYC
The recent ruling in finding NYC’s prevailing wage unconstitutional was the correct decision. Bloomberg understands the fundamental economic premise regarding paying a wage what the market dictates the worker is worth. Those that support the prevailing wage policies do not. It is both unfortunate and dangerous, because implementing a prevailing wage has two effects: 1) it devastates the very people its proponents think they are | Read More »
Disparate Impact Theory and the IRS
The idea of “disparate impact” is a poisonous cancer that has taken root as an important concept in the business world. If we do not end it soon, it will continue to grow, extorting huge sums from innocent companies, creating an enormous economic burden on society, and allowing the tort bar to run amok. There are many areas in business where charges of “discrimination”, often | Read More »
The Chicago Tribune Discovers the Emperor Has No Clothes
The Chicago Tribune has published a Sunday editorial calling on Obamacare to be re-written. The Chicago Tribune. The Tribune goes through the myriad of delays that the Administration has announced in the last few months, contrary to the actual written law, and then they go further. They question the ability of Obama to actual ignore parts of the law he deems inconvenient or difficult to | Read More »