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2010 Health Care Reform Bill

A controversial health care bill that the Senate passed on March 21, 2010.

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Bailing out & falling short big time!

  • Mar 28, 2010
Helping others is morally good. However, when a government which is broke or on the verge of bankruptcy goes beyond and put every part of its country deeper into debt, that's totally insanity and dangerous. The U.S. is on its way to 'solve' its problems by simply printing money and pumping money that was otherwise not there to begin with? Not to mention the interest it has to pay for its sovereign debt? I don't get it! It's a no way out situation at all. What does the Obama administration think it is doing? Does it expect to have China solved its problems?As it is, China is already beginning to dump the US government bonds, albeit a small one. No one really wants to keep the US$ for the long term either. Even American investors are diversifying elsewhere & with increasing signs of the PIGS (Portugal, Ireland, Greece, Spain) in trouble, the Euro are in no better position. Japan is now the biggest holder of the US Treasuries, that positions it at a vulnerable spot too! So, now, effectively, we have world peace in jeopardy.

Unless I'm getting my facts wrong, U.S. government is deep in the red, owing more than any government in the world! Along with it, the taxpayers are obligated to subsidize the entire country with their hard-earned money and also their children's future along with it. I heard that every taxpayer liability is at least US$40k and no one is going to perpetually pay that on an annual basis. Hence, ultimately, the only way out is to default.  US$ will devalue further and it will end up like Indonesia in the past. U.S. will need to sell either lands, technology or "passports" to foreigners to get out of this mess. That is the peaceful way. The worst is to go to another war to distract its citizens from their daily miseries. God forbids!

Each government, present & before, simply 'mismanaged' bit and the country over the decades end up on a course for destruction. It may sounds way too serious for many of you. However, if you think about it, and those who have had messed up their own financial decisions & positions, you know that it's not one day that you wake up realizing you've taken the wrong course and path overnight. It happened years before and trying to get out of it is extremely difficult. That's on an individual basis. As for a country, it's total disaster in the making as you've so many sectors that are all self-serving and trying to survive; everyone has their own agendas which they normally deemed higher than the whole. So there you have it... a disaster in the making, a tsunami forming. We thought we managed to steer clear of one in 2008! Yet, what had really changed? Nothing. Except now, government pumped so much liquidity into the free market last year propping up prices but not jobs. Not just the U.S. but in all developed countries! Hence, the world is primed for a supervolcano to erupt. 

While in 2008 we see countries like U.S., European Zone, Japan & China all working in concert, we now see U.S. & China begin to squabble. Cyber attacks? Currency manipulation? The atmosphere is no longer docile. Are we cooking for the next war or what? Will governments try to find excuses for their own failures by starting war against another? I certainly hope not although I can't discount the fact that it had come to mind and I had also have this kind of private discussions with friends.

We have had it good for the last 65 years, have we not? Can we have more of those good times please? What do you think?

Imho, this is not the time for the American government to be good to its people by implementing something which it cannot pay for. Before you get taken care of medically, the cost of this program will paralyze each and everyone who's healthy. It's the same for what they had done for all those corporate bailouts. By letting them stay afloat while others are being paid hundred of millions of bonuses, the middle class at large are being squeezed to their limits. 

What is happening here in the U.S.? Doesn't it sound like socialism rather than capitalism prevails?
The future is bleak for America! & the world, in that order... 

P.S. I know I'm not my usual optimistic self, but there are some signs which you just cannot ignore. Greed and capitalism when exercised to the limit have disastrous consequences! US$15,000,000,000,000 debt? OMG!

I've one last question which I'm still trying to think it out... why is it that all Asian countries don't have this problem? Health care is being paid from our own pocket and most Asians are a lot poorer than Americans anyway. It's not as if we have a better living environment, it's not as if our medicals are better and we don't get sick. Ok, may be we simply die without a chance to complain. I really don't have the answer. What I hope is simply that the American government knows what it is doing!!! I've hoped for that the last 10 years! Not sure life is going to change for the better though :(
Bailing out & falling short big time!

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August 12, 2010
I totally concur. I am 52 and a retired army officer and I feel terrible about the fact that this is the first time in my life that I truely beleive the best years of Aerica are behind us, not in front of us. Pax Americana is on the wane. The future is with BRIC's Brazil, Russia, India, and China.
April 14, 2010
The health bill just reminded me of what happened at work before. The management wanted to get a super costly IT budget passed that is said to benefit the employees and the customers in the years to come. So the projected cost savings and benefits are VERY MANIPULATED without current team having to be responsible for it in the later years. The company at that time was not in a good shape financially to take it at all. But it looks good on the management team and it sounds good too as the team is said to be VISIONARY AND THINK FORWARD. Good luck to the Americans.
March 28, 2010
actually, Sharrie, in my native land, most people just simply die...and they don't complain. But some others do live long lives (even when they are poor). It is one of the mysteries of life. Asians smoke a lot in other countries yet the lung cancer statistics are low. Maybe it is the environment? One would never know. Nice thought-provoking write ups! I still have to read up on this issue, but I wonder where is the money coming from?
March 28, 2010
Ask the Fed ;-)
March 28, 2010
I did, but they're ignoring me. Maybe we can get your boy Kaneshiro ask a female agent?
March 28, 2010
If Kaneshiro goes over as shinigami, the Fed's time is up! LOL...
March 28, 2010
Without calculating the unknown costs of health care, the CBO already projects that the share of the debt for each US Household will be $170,000 by 2020. That is outrageous. There is no filing bankruptcy to get rid of that debt. We are passing this cost on to future generations who will not even be able to sustain the interest on the debt, never mind the outrageous deficit spending. Even at a low 4 percent interest, the average US family will have to pay 7,000 a year just to cover the interest on the debt. Does anyone REALLY want this? Every person in the United States that thinks their gimmes are free is contributing to the problem. It is time to elect responsible Congressman and Senators who will spend OUR money like grown ups. Great review!
March 28, 2010
Thanks! I do know that in Indonesia & probably South America cases, the only way to go is to devalue the currencies & ultimately become poorer nations. In the case of U.S., it is already on its way there. Eventually, on the individual level, you won't be able to afford travel to Europe or even Asia because things have become so much more expensive for the Americans. Taxes will be high too, not to mention that we are only discussing the status quo of having stable interest rates. If interest rate increase by 2%, U.S. government will not be able to service its sovereign debts. In no time, more paper money will be printed, inflation soars... no way to solve the problem but to go to war! :(
March 28, 2010
You only have to look back to 2006 to Zimbabwe to see the effects of hyper-inflation.  You can read the New York TImes article about it.

Does anyone really think paying 417 dollars for a single two-ply sheet of toilet paper is reasonable?  Not in a normal economy.  But our is headed down this road.  What good is universal health care going to be if you cannot even afford a slice of bread?  Congress better hold on to that 2700 page document, because it may come in handy when toilet paper reaches 150K a roll...like it did in Zimbabwe.

Those who forget the past are destined to repeat it.

Germany offers more insight into the issue during 1923.  There was a story ciruclated about a guy who took a wheelbarrel full of money to the store to buy bread.  He got there just after the store closed.  He figured he would leave the wheelbarrel full of money outside the store and return in the morning, fully expecting the money to be there.  It was.  But someone stole the wheelbarrel.  Humph!

People better wake up before it's too late.  This Administration is taking us down the primrose path to our own destruction.  There is no such thing as a free ride.
March 28, 2010
I'm afraid you're totally right in this case! It is falling into the very same "too big to fail" syndrome. For a country, it is perhaps trying to adopt the same attitude! Well, I may be totally wrong on this one, but if I'm, I'm not the only one! ;-)
March 28, 2010
Thank you for injecting a much needed dose of common sense into the discussion. The country is bankrupt and passage of this legislation will only make matters much worse. And despite what the politicians say health care will be rationed. It has to be.  Whether or not this billed passed Americans are going to have to make difficult choices about health care.  We simply cannot afford to run to the doctor everytime we or our kids have a sniffle. In any event, there are much better ways to address these problems.
March 28, 2010
I think so too! There are better ways to handle this and more serious problems than this one. I don't really quite understand why your government is making this a priority at a time when there are more urgent matters to attend to, as far as a government is concern. Also, Afghanistan & Iraq weigh so heavily when it comes to U.S. agenda, why not solve that quickly & then divert whatever resources back home instead? As I said, I don't understand politics at all!
More 2010 Health Care Reform Bill reviews
review by . December 13, 2010
posted in Big Government
There has been a lot of false advertising about this bill.  This is an attempt to cut through a lot of this and give to the best of my ability a fair review of the changes of law.      The major issues the health care reform laws were intended to tackle were the rising cost of care and rising health insurance rates.  I can tell you my family has been without health insurance for over a year because the rates were suddenly raised on us 50% from one year to the next.  …
review by . March 22, 2010
posted in Public Policy
Although I have been watching today's events like a freight train running toward a brick wall, the finality of the vote still leaves me speechless.  For the first time in my lifetime, I have witnessed the most divisive partisan legislation pass the final hurdle towards law.  A 2700-page bill rife with backroom deals and pork that will cost taxpayers an admitted 600 Billion dollars, will require young people who do not have insurance to purchase it themselves and will ultimately experience …
review by . March 22, 2010
posted in Public Policy
The ends never justify the means.
So there you have it.  President Obama, Nancy Pelosi, Harry Reid and the rest of the Democrats have gotten their way. The 2700 page 2010 Health Care Reform Care bill will become law.  Had the Democrats played by the rules and managed to get this legislation passed I would have been upset but I could have lived with it. That is the American way!  But as we have come to discover all too often over the years Democrats rarely play by the rules. These ideologues …
review by . March 22, 2010
The Senate passed the healthcare reform bill and you're probably asking, "now what?"  There are a lot of questions being asked and many people who are confused, wondering how does this affect me?  It will be a law that all Americans are required to have health insurance and it does remedy the problem of the millions who are uninsured.  By the year 2014 all Americans will be required to have some form of health insurance or face being fined.        …
Quick Tip by . July 03, 2010
posted in Public Policy
Personally, what started out as an initial opinion of excited promise has since turned into a much less hopeful one. Reading up on different perspectives has revealed more cons over pros than I first thought existed. Maybe we didn't need this one after all. I'm hoping I'm wrong.
Quick Tip by . March 27, 2010
It is immoral for those of us who have health insurance to deny it to others. Scare tactics should not prevail.
Quick Tip by . March 23, 2010
Stoked the bill passed, wish it was universal health care though, rather than feeding money to insurance companies.
About the reviewer
Sharrie ()
Ranked #3
I'm a traveler at heart & have been nicknamed Travel Queen by friends & colleagues alike. Traveling has been my life passion for the last decade or so. As we enter a new decade, I'm excited … more
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The Patient Protection and Affordable Care Act (H.R. 3590) was signed into law by President Barack Obama on March 23, 2010. Along with the Health Care and Education Affordability Reconciliation Act of 2010, the act is a product of the health care reform agenda of the Democratic-controlled Congress and the Obama administration.

The bill was originally drafted by the U.S. Senate as an alternative to the Affordable Health Care for America Act, which was passed by the U.S. House of Representatives two months earlier on November 7. However, after the Democrats lost their supermajority in the Senate on January 19, 2010, the House decided to pass the Senate version and amend it with a third bill. This will allow the Senate to pass the amendments via the simple-majority reconciliation process.

The Patient Protection and Affordable Care Act passed the Senate on December 24, 2009, by a vote of 60–39 and passed the House on March 21, 2010, by a vote of 219–212, with no Republicans in either house voting for the bill. At the time of the vote, there were 4 vacancies in the United States House of Representatives.
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