My article came from the New York Times.
Bernard, Tara Siegel "For Consumers, Clarity on Health care Changes" http://nytimes.com/
Terms to Know: Affluent-having a generously sufficient and typically increasing supply of material possessions
Doughnut Hole- a big, expensive gap in coverage that affects millions
Last night, a revised form of the health care bill was sent to Capitol Hill ready for the signature of our president, Barack Obama. It has definitely been a long time coming and much conspiracy and controversy has risen over the effects of passing this bill. Not one Republican signed the bill and even some held up signs outside Capitol Hill that read, "Kill the Bill". Others believe that it will be a big step forward, providing a peace of mind to many Americans who really want or need health insurance.
The legislation is meant to provide coverage for as many as 32 million people who had either been denied coverage before or could not afford their increasing insurance premiums. Most Americans will be required to have health insurance and will face federal penalties if they do not but it. Affluent families will be required to pay additional taxes on their health care policies and plans will now prohibit consumers form placing lifetime limits on medical coverage and cancelling the policies of those whom fall ill. And within the three months following the signing of the bill into law, people who have been locked out of the insurance market because of pre-existing conditions will be eligible for subsidized coverage through a new, high-risk insurance program.
This new bill proposes many new changes legislators predict will occur in the near future. In 2013, affluent families with annual income above $250,000 will be required to pay an additional 3.8% tax on their investment income, while contributing more to the Medicaid program for their payroll taxes. Starting immediately, consumers who hit the doughnut hole will receive a $250 rebate. In 2011, they will receive a 50% discount on brand name drugs. By 2020, the "doughnut hole" in the prescription drug program will be eliminated.
I favor the philosophies of those who support this bill. It is still not too late for us to come together in solidarity and care for mankind. No one can be denied the right to life so why be denied the right to sufficient health care plans with affordable health care premiums? We shall see where this bill takes us. ( Hopefully not to the hospital!! ;-)
Monday, March 22, 2010
Tuesday, March 16, 2010
More Bang for Your Buck
This article comes from the New York Times.
Leonhardt, David " The Perils of Pay Less,Get More" http://www.nytimes.com
http://www.nytimes.com/2010/03/17/business/economy/17leonhardt.html?ref=economy
Terms to Know: GDP- measure of a country's economic output.
Wagner's Law- Theory developed by 19th century economist Adolf Wagner that states as a society gets richer, its tax rates tend to rise.
This deficit modern America has been in for the past two years may carry it self on for longer than we had anticipated. As we see our society in hardship, we as human beings look to those with the ultimate power to bail us out of a mess:in this case we turn to the government. As unemployment rates continue to increase and public benefits continue to decrease, we all turn our heads to the face of our justice system to have justice served. We ask for bills on healthcare reforms, grnadiose stimulus packets, and comfortable retirement for the elderly. But how will all of those requests concequentially affect our future?
With the basic needs of the people met, we still want more. This is the foundation of Wagner's Law. Adolf Wagner believed that citizzens of richer societies usually prefer more government services. the U.S has followed this path for most of the last century but as the recession hit, its becoming harder and harder for them to follow through.The request that teh military play the protector role, good schools are available for children, and medical care is available even when it is not profitable nor a strong social safety net is hard for the government to fulfill in times such as these. The aftermath of fulfilling all of these demands may label the U.S into an even bigger deficit!
what can we do? What will happen? Well, economists predict that by 2020, govenrment spending will have projected to 26%(and rising) of G.D.P mostly because of Medicare and Social Security. Spending needs to be cut and taxes need to rise. Now if this combination is put into effect right, they will not have to reduce economic growth by much. A risk, yes, but what more can we do?
Leonhardt, David " The Perils of Pay Less,Get More" http://www.nytimes.com
http://www.nytimes.com/2010/03/17/business/economy/17leonhardt.html?ref=economy
Terms to Know: GDP- measure of a country's economic output.
Wagner's Law- Theory developed by 19th century economist Adolf Wagner that states as a society gets richer, its tax rates tend to rise.
This deficit modern America has been in for the past two years may carry it self on for longer than we had anticipated. As we see our society in hardship, we as human beings look to those with the ultimate power to bail us out of a mess:in this case we turn to the government. As unemployment rates continue to increase and public benefits continue to decrease, we all turn our heads to the face of our justice system to have justice served. We ask for bills on healthcare reforms, grnadiose stimulus packets, and comfortable retirement for the elderly. But how will all of those requests concequentially affect our future?
With the basic needs of the people met, we still want more. This is the foundation of Wagner's Law. Adolf Wagner believed that citizzens of richer societies usually prefer more government services. the U.S has followed this path for most of the last century but as the recession hit, its becoming harder and harder for them to follow through.The request that teh military play the protector role, good schools are available for children, and medical care is available even when it is not profitable nor a strong social safety net is hard for the government to fulfill in times such as these. The aftermath of fulfilling all of these demands may label the U.S into an even bigger deficit!
what can we do? What will happen? Well, economists predict that by 2020, govenrment spending will have projected to 26%(and rising) of G.D.P mostly because of Medicare and Social Security. Spending needs to be cut and taxes need to rise. Now if this combination is put into effect right, they will not have to reduce economic growth by much. A risk, yes, but what more can we do?
Sunday, March 7, 2010
Food Stamps! Stamps! Stamps!!!
Terms to Know: FSP- Food Stamp Program
Food Security- measures a household's access to food that provides a nutritionally adequate diet for its members.
In these hard times it is crucial that people have the security and stability every family needs. It is important that everyone have access to the resources he/she needs for basic survival. The advancement of public assistance and the food stamp program help provide federal aid seeking families with the food security they need, but, there are some eligible particpants who do not take advantage of the opportunity bestowed before them. In 2000-2001, the Economic Research Service of the U.S Department of Agriculture funded a national study of FSP accessibility at the local level. In this study, the ERS collected information describing the policies and practices in local food stamp offices, the characteristics of participant and nonparticipant households, answered the question why some eligible households do not participate in the FSP.
Studies show that a decrease in food security occured between the years 1996 and 2001. In 1996, 34% of FSP nonparticipant households were food insecure and 14% of that group were food insecure with hunger. That number has increased since then and now 45% of FSP nonparticipants households are food insecure, and 25% of those are food insecure with hunger.
91% of eligible nonparticipant households do not participate in the FSP because they hold a desire for personal independence. I can agree with the notion of wanting to feel financially accomplished as a moral human being but if you are someone who lacks the experience and prerequisites to be monetarily secure, then you should have no shame and reach out for assistance. That is what programs such as the FSP are there for. They are governmented funded programs meant to provide people with the help they need. The people, then, have to be willing to accept.
Food Security- measures a household's access to food that provides a nutritionally adequate diet for its members.
In these hard times it is crucial that people have the security and stability every family needs. It is important that everyone have access to the resources he/she needs for basic survival. The advancement of public assistance and the food stamp program help provide federal aid seeking families with the food security they need, but, there are some eligible particpants who do not take advantage of the opportunity bestowed before them. In 2000-2001, the Economic Research Service of the U.S Department of Agriculture funded a national study of FSP accessibility at the local level. In this study, the ERS collected information describing the policies and practices in local food stamp offices, the characteristics of participant and nonparticipant households, answered the question why some eligible households do not participate in the FSP.
Studies show that a decrease in food security occured between the years 1996 and 2001. In 1996, 34% of FSP nonparticipant households were food insecure and 14% of that group were food insecure with hunger. That number has increased since then and now 45% of FSP nonparticipants households are food insecure, and 25% of those are food insecure with hunger.
91% of eligible nonparticipant households do not participate in the FSP because they hold a desire for personal independence. I can agree with the notion of wanting to feel financially accomplished as a moral human being but if you are someone who lacks the experience and prerequisites to be monetarily secure, then you should have no shame and reach out for assistance. That is what programs such as the FSP are there for. They are governmented funded programs meant to provide people with the help they need. The people, then, have to be willing to accept.
Monday, March 1, 2010
The East is Taking Over!
"East or Famine" Feb. 28, 2010
Words to Know- Gauge- a measurement (as of linear dimension) according to some standard or system
Clout-pull, influence
Asia is a country that we need to seek economic advice from. In the past three decades, Asia has experienced a gauge in their economic power. The share of the world's GDP was counted in the year 2009 and Asia by for had the greatest influzs of growth between Western Europe and the U.S. Asia's economy began at 18% in 1980 then grew to 27% in 1995 and then 34% in 2009. Economists believe that by 2020 Asia could well produce half of some big Western multinationals sales and profits up form a typical proportion of 20-252% today.
Last year alone 40% of global investment at market exchange rates took place in Asia. This number equaled the exchange rates that took place in Europe and the U.S combined. The growth in emerging Asia is likely to stay strong; it is likely that their currencies will rise and the relative size of their economies will furhter boost in dollar terms as a result. Asia is not so much as the company to beat but as the company to mirror and model. Asia has a secure growing economy that provides the country with confidence they need to stimulate more growth. The U.S and Eastern Europe could learn a thing or two from Asia.
http://www.economist.com/business-finance/displaystory.cfm?story_id=15579727&source=hptextfeature
Words to Know- Gauge- a measurement (as of linear dimension) according to some standard or system
Clout-pull, influence
Asia is a country that we need to seek economic advice from. In the past three decades, Asia has experienced a gauge in their economic power. The share of the world's GDP was counted in the year 2009 and Asia by for had the greatest influzs of growth between Western Europe and the U.S. Asia's economy began at 18% in 1980 then grew to 27% in 1995 and then 34% in 2009. Economists believe that by 2020 Asia could well produce half of some big Western multinationals sales and profits up form a typical proportion of 20-252% today.
Last year alone 40% of global investment at market exchange rates took place in Asia. This number equaled the exchange rates that took place in Europe and the U.S combined. The growth in emerging Asia is likely to stay strong; it is likely that their currencies will rise and the relative size of their economies will furhter boost in dollar terms as a result. Asia is not so much as the company to beat but as the company to mirror and model. Asia has a secure growing economy that provides the country with confidence they need to stimulate more growth. The U.S and Eastern Europe could learn a thing or two from Asia.
http://www.economist.com/business-finance/displaystory.cfm?story_id=15579727&source=hptextfeature
Monday, February 22, 2010
The IMF Changes Its Mind on Controls on Capital Inflows"
This article comes form The Economist. Terms to know are IMF: International Monetary Fund, inflows: flowing in of funds, capital controls: monetary policy device used by the government to regulate the flow in and out of the country's capital account. http://economist.com/
The chief economist of IMF, Olivier Blanchard, questioned the focus of modern macroeconomic policy on keeping inflation low. He argued that central banks should aim at an inflation rate of 4% rather than a conventional goal of 2%. A paper entitled " Capital Inflows: The Role of Controls " written by severla economists concludes that controls are sometimes justified as part of the policy toolkit" for an economy seeking to deal with surging inflows effectively. the authors find that GDP fell less sharply during the financial crisis in countries that already had control policies in place. Research also shows that the maturity structure of a country's external liabilities gets longer as a result of capital control. Capital controls satiate chaos in global economic realities. It would be very clever for other countries to design capital controls for surplus ' and inflows.
The chief economist of IMF, Olivier Blanchard, questioned the focus of modern macroeconomic policy on keeping inflation low. He argued that central banks should aim at an inflation rate of 4% rather than a conventional goal of 2%. A paper entitled " Capital Inflows: The Role of Controls " written by severla economists concludes that controls are sometimes justified as part of the policy toolkit" for an economy seeking to deal with surging inflows effectively. the authors find that GDP fell less sharply during the financial crisis in countries that already had control policies in place. Research also shows that the maturity structure of a country's external liabilities gets longer as a result of capital control. Capital controls satiate chaos in global economic realities. It would be very clever for other countries to design capital controls for surplus ' and inflows.
The Survivor
This article came from The Economist. Three terms to know are rout: fashionable gathering, Rasmussen: biographical name. http://www.economist.com/
Rick Perry, current governor of Texas, has been campaigning in recent days to maintain incumbetn of that office. A Rasmussen poll on February 1st gave a Perry a 15 point lead over his close4st opponent for the Republican nomination Kay Bailey Hutchison, the state's senior senator. Although Perry has gained the support of the constituents in America's second largest state, there was a time when Mr. Perry angered his conservative base. Governor Perry made tha suggestion that schoolgirls have mandatory vaccines against the Human Papilloma Virus perofrmed. However insulting this may be to my fellow schoolgirls, it is likely that Perry will cruise right through the primary in his bid to remain governor of Texas.
During Perry's campaign speech, he slandered Barack Obama's expensive stimulus package saying if he was in charge of federal spending the departments of energy and education would be the first to go. The rout drownd his speech with praise and aplomb. Perry plans on using all of this success and support from the Republican Party to face President Obama head on in 2012. Perry is a thrice-elected gorvernor from a big state which has boomed under his management. This sound very qappealing to the Republicans.
Rick Perry, current governor of Texas, has been campaigning in recent days to maintain incumbetn of that office. A Rasmussen poll on February 1st gave a Perry a 15 point lead over his close4st opponent for the Republican nomination Kay Bailey Hutchison, the state's senior senator. Although Perry has gained the support of the constituents in America's second largest state, there was a time when Mr. Perry angered his conservative base. Governor Perry made tha suggestion that schoolgirls have mandatory vaccines against the Human Papilloma Virus perofrmed. However insulting this may be to my fellow schoolgirls, it is likely that Perry will cruise right through the primary in his bid to remain governor of Texas.
During Perry's campaign speech, he slandered Barack Obama's expensive stimulus package saying if he was in charge of federal spending the departments of energy and education would be the first to go. The rout drownd his speech with praise and aplomb. Perry plans on using all of this success and support from the Republican Party to face President Obama head on in 2012. Perry is a thrice-elected gorvernor from a big state which has boomed under his management. This sound very qappealing to the Republicans.
Tuesday, February 9, 2010
Show Me The Money!
As most have heard, or most have not, a fiscal budget for the year 2010 was just released to the Obama Administration eights days ago...yet we constituents have yet to hear about it. The buzz about this said budget has not made headlines as a trend of the White House. Beginnign decades and decades ago, presidential administrations have drifted away from the media in time of budget realese due to the heavy pressures of how the money will be spent. The Obama Administration is no different. The budget is under wraps and will remain so until tjhe latter part of the 2010 year when President Obama present Congress with the 2011 proposal. But for now, we will simply have to feel its presence, hopefully.
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