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 :(
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. … more
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 … more
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 … more
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. … more
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.
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.