No Obamacare Does Not Kill 2 Million Jobs!

When the Congressional Budget Office (CBO) released their report giving an updated estimate on the Affordable Care Act (Obamacare) earlier this week; the report revised its initial figures and stated that due to Obamacare the work hours would be reduced to the equivalent of 2 million jobs in 2024.

No, it did not say 2 millions jobs would be lost!

Republicans like fly on shit have jumped all over the “equivalent of 2 million jobs” part, it’s too bad that they completely misread what the CBO was trying to say.

Obamacare offers subsidies to help individuals to pay for health insurance, that along with lower premiums being offered through the exchanges have made insurance more affordable.  With insurance being more affordable, people now have options.  If you did not have a full-time job that offered you health insurance, paying for insurance on your own was beyond costly.

Now people have options, and this is a good thing.  Currently there a large number of baby boomers who are working late into their 60s for healthcare; we have all seen grandma working at McDonald’s and it’s a sad sight.

Some will argue that this will produce a disincentive for people to work as they would not want to lose the subsidies provided by Obamacare.  This is a silly assumption, why would anyone turn down the opportunity to work full-time just to keep some subsidies.  Hmmmm, more money or stay part-time……  Now it is possible you will have some lazy folks who will try to game the system to get the most out of it without doing much.  But here is different way to look at it, on Wednesday Congressional Budget Office director Doug Elmendorf spoke to a House Budget Committee to explain the CBO report.

“There is a critical difference between people who want to work and can’t find a job…and people who choose not to work because because [they’ve] decided to retire, or spend more time with their family, or spend time on a hobby,” Elmendorf said. “They don’t feel bad about it, they feel good about it. We don’t feel bad about it, we say, ‘Congratulations.’”

Let’s say a single mother works and pays for childcare, wouldn’t it be nice if she could save money on childcare if say a family member (mother, or aunt) could afford to retire to help that single mother take care of her child?

There are problems with Obamacare that need to be fixed, but this is not what Republicans are trying to make it.  Also, it’s funny how Republicans conveniently leave out the other thing the CBO report stated that there is, “no compelling evidence” to suggest that Obamacare will increase part-time employment over full-time employment.

As always….

If there is something to be said, “It’s On Broadway” to step up and say it!!

Sources: Washington Post & Reuters

Talking Points Tuesdays – If it’s good enough for Warren Buffett…

Warren Buffett

If you know me you know where I stand with ending Bush Era Tax Cuts for the upper 2% wealthy and extending the tax cuts for the Middle/Working Class.  It’s very simple, our economy is driven by the middle/working class.  Yes the rich spend a lot of money, but when you compare to the amount of money and the number of people considered to be in the middle/working class…  There is no comparison!!!

People need to realize 95% Americans (that’s you) were given a tax cut by President Obama!!

President Obama campaigned on letting the Bush Era Tax Cuts for the upper 2% wealthy; so there is nothing new.  WE all knew that this was coming and it was heavily supported, no surprises or flip-flopping going on here.  In fact letting the tax cuts expire for the wealthy is still widely supported by the American people.

So what’s the problem?

The problem is so-called fiscal Conservatives in Congress are now crying that letting the tax cuts expire for the rich will stifle economic growth and kill jobs.  Meanwhile they (Conservatives) also scream about being fiscally responsible; the problem with all of this is that extending the tax cuts for the rich will cost the United States $700 Billion over the next ten years.  That’s $700 Billion that will be added to our already enormous National Debt.

The Congressional Budget Office aka CBO (neutral entity) has stated that giving the rich a tax cut is the LEAST effective way to create jobs or stimulate the economy.  Ronald Reagan’s budget officer has gone on the record that extending the tax cuts would cause my harm than good (for the record he suggest letting tax cuts expire for Rich and Middle/Working classes).

Let’s see that’s a neutral entity in the CBO against tax cuts for rich and we also have a Conservative who worked for the Grand Daddy (Ronald Reagan) of Trickle Down economics against tax cuts for the rich (and Middle/Working class).  Still we have the GOP trying to push the agenda of tax cuts rich and that Liberals are trying to start a class war.

Maybe the American people will ignore the GOP and listen to some one who will be directly affected by increased taxes; Warren Buffet.  If you don’t know Buffett; he is rich beyond rich.

How do you think he feels about letting the Bush Era Tax Cuts for the upper 2% (which he is) expire?

“I think that people at the high-end, people like myself, should be paying a lot more in taxes. We have it better than we’ve ever had it,” he told ABC’s Christiane Amanpour

Wait, WHAT?

On increasing taxes for the rich…

“The rich are always going to say that, you know, ‘Just give us more money, and we’ll go out and spend more, and then it will all trickle down to the rest of you.’ But that has not worked the last 10 years, and I hope the American public is catching on.”

As I stated in the title of this posting, “If it’s good enough for Warren Buffett…” then it is good enough for the rest of the upper 2% rich!!

Buffett

As always….

If there is something to be said, “It’s On Broadway” to step up and say it!!!

Free Flowing – Fake Memos….

So this is what it has come to, Republicans using a fake memo of Democrat Talking Points to derail Health Care Reform (HCR). This fake memo details what Democrats should talk about and focus on while giving interviews or making appearances concerning HCR. The memo attempts to protrait Democrats as liars who are trying to dupe Americans into supporting HCR.

Republicans at this point are desperate and they are beginning to realize the mistake they made in not being part of what will be history. After a year of obstruction Republicans have gained nothing; and leading up to the vote to pass the Senate version of HCR they have resorted to fake memos.

Desperate times calls for desperate measures and that was clearly evident when Representative Scott Garret (R-NJ) read the fake memo on the floor of the House of Representatives. Big mistake Rep Garret, did he really think his little show was going to be unchallenged (should have read my post Takeover Thursdays – Anthony Weiner). He must have been absent earlier this year when Rep Anthony Weiner from NY ripped Republicans for their phony ways. In front of everyone Weiner called out Garret and asked him to produce the source of the document, Garret was quiet.

If HCR is so bad for the people you shouldn’t have to lie to show that!

Check out the video of Rep Weiner doing what he does best:

As always….
If there is something to be said, “Its On Broadway” to step up and say it!!!

Takeover Thursdays – Almost there….

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So after a year and a couple of months it appears that we ar in the home stretch. Health Care Reform (HCR) will be a reality for close to 30 million. This has been a long hard-fought battle that has taken its toll on President Obama and the Democrats in Congress, but the finish line is in sight. The official countdown starts now as the Congressional Budget Office (CBO) released the scoring of the latest Health Care Reform bill. If you recall after the Health Care Summit at the Blair House President Obama added several key Republican points, so the numbers we heard previously concerning the cost of Health Care Reform could change ever so slightly. So what were the CBO findings?

The bill will cost $940 billion over the first 10 years and reduce the deficit by $130 billion during that period. In the second 10 years — so, 2020 to 2029 — it will reduce the deficit by $1.2 trillion. The legislation will cover 32 million Americans, or 95 percent of the legal population.

So what exactly happens once The House and Senate pass HCR and President Obama signs the legislation into law? This is a great question and to be honest before last night I could not answer that question, but thanks to Rachel Maddow and her show I have a better idea of what happens next. Please keep in mind the following is a representation of what the HCR bill looked like as of last night.

The Congressional Budget Office (CBO) releases the score of the HCR Bill ($1.2 Trillion in deficit savings over 20 years) Nancy Pelosi promised that she will delay the House from voting on the Senate version of the bill for 72 hours. She wants to give everyone a chance to review the legislation and understand any changes that were made. With the CBO releasing their scoring of the bill today, the House will more than likely vote on the bill either Sunday or Monday. In the past couple of days there has been some controversy surrounding a House tactic known as “Deem and Pass”. This is a maneuver that will allow the House to pass a bill without actually having a roll call vote on the legislation; it is technically known as a “self-executing rule.” A self-executing rule is essentially a two-for-one special; when the House votes to adopt a self-executing rule, it simultaneously adopts a separate bill or amendment, which is specified in the rule itself. In short, the House “deems” another bill to be passed as soon as it adopts the rule. I know it’s a little confusing; as of right now it has not been decided how the House will handle voting for the HCR Bill.

The legislation will then go back to the Senate to pass any fixes they will apply to the bill; hopefully it will be voted on by the Senate by Easter. Once the bill is passed by the Senate they will then send the bill to the President for final signature that will turn the legislation into law.

Within 90 days:

• The government will create High-Risks Pools that will provide people without health insurance due to pre-existing conditions with immediate to care.

Next 90 days:

• No child will be denied health coverage because of a pre-existing condition

• No longer can insurance companies apply Lifetime Limits on the dollar value on benefits (according to PricewaterhouseCoopers removing limits would reduce Medicaid costs by $1 billion per year)

• Insurance companies will be banned from rescinding coverage if you file a claim. Once you have insurance you will be covered. End of Rescission.

By 2011:

• Anyone with Medicare will be eligible for free annual Wellness visits

• Insurance companies will have to spend 80-85% of what you pay in premiums do towards actual medical care. If they do not spend 80-85% the insurance company will have to pay the difference back to the customer.

• There will be a review of any health insurance rates that are being raised. Insurance companies will have to announce potential rate hikes and submit the proposed raise in rates for review and justify that raise.

By 2014:

• Insurance companies will no longer be allowed to deny anyone coverage due to pre-existing conditions.

• The Insurance Exchange will provide an exchange for anyone without health insurance to shop for affordable insurance. This exchange will be created and maintained by the government. This setup will mimic what federal employees have access to.

• Insurance companies will no longer be able to apply Annual Limits on the dollar value on benefits (according to PricewaterhouseCoopers removing limits would reduce Medicaid costs by $1 billion per year).

Information is still pouring concerning the HCR bill; for example as I am writing this I just learned that the so-called Medicare “doughnut hole” will be closed this year. Medicare drug plans now stop paying for prescriptions each year once the government and the consumer have spent $2,830 on them. The benefit resumes once annual out-of-pocket spending reaches $4,550.The bill would close that so-called “doughnut hole.” This year, beneficiaries who hit the doughnut hole limit would get $250 rebates.

Hopefully this posting will help clear up some of the confusion associated with Health Care Reform. In the coming days you will hear a lot of information about the HCR bill; both negative and positive. Without a doubt this bill is not perfect and there still a lot of work to be done (Public Option); all I ask is that you keep yourself informed. It’s all about the facts and that goes for both Democrats and Republicans. Here are some sites you can visit to help separate fact from fiction; for example any conversation about this HCR bill creating Death Panels is absolutely absurd. If you don’t believe me look it up yourself:

http://www.politifact.com/truth-o-meter/

http://www.factcheck.org/

UPDATE:
President Obama will sign the HCR Bill before the Senate will review the fixes voted on by the House. It is expected the president will sign either 3/23/2010 or 3/24/2010. The Democrats in the Senate arehoping to pass the fixes tot he Senate version of HCR by the end of the week (3/26/2010). This could be dragged out until Easter.

As always….
If there is something to be said, “Its On Broadway” to step up and say it!!!