Mercury Rising 鳯女

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Archive for May 5th, 2009

Schumer’s Proposal for a Health Care “Public Plan”

Posted by MEC on May 5, 2009

The Usual Suspects are vehemently opposed to a “public plan” for health insurance (a.k.a. “Medicare for everybody”), because, they say, it would drive the private insurers out of business.

In response, Senator Chuck Schumer is proposing that any public plan “must be subject to the same regulations and requirements” as all private plans.

My first thought was, “Does this mean the public plan would drop coverage for anybody who filed a claim? Refuse to pay for prescribed drugs if there’s a cheaper alternative, even if the cheaper alternative was ineffective? Override doctors’ decisions? Deny coverage to anybody who actually needs medical treatment?”

The private insurers’ objection to a public plan effectively shows that they’re in business to make a profit, not to actually provide health care. If they don’t want to be run out of business by a plan that offers what people actually need, then they’ll just have to improve their own product. A business plan that consists of “maximize profit by minimizing product” is not sustainable in the long run.

Posted in health care | 5 Comments »

Turning The Corner

Posted by Phoenix Woman on May 5, 2009

Kimberly over in the comments section of The Field pointed this out:

From Krugman’s latest piece:

“Credit where credit is due: President Obama and his economic advisers seem to have steered the economy away from the abyss.”

I remember just a couple months ago where he said Team Obama was ‘killing us all’ with their ‘dithering’

Nouriel Roubini (Dr Doom) is more objective imo- he said in Newsweek that he no longer fears and L-shaped near depression, he now thinks we’re in the middle of U-shaped recession. He said the Obama Admin deserves credit for their aggressive policy action. The worst has been averted.

What’s interesting to me is how different the outlooks of Krugman and Roubini are. Krugman, as mentioned above, did admit (but only after a few hundred words of general balefulness) that the economy does seem to have been steered away from the abyss; however, he thinks that we’re in for a Japanese-style L-shaped stagnant recovery, whereas Roubini, the guy who is the one usually known as “Dr. Doom”, thinks that we’re about halfway through a U-shaped recession that, while “deep and protracted”, will be markedly on the wane, if not over, by this time next year.

Posted in 2012, economy, Paul Krugman, President Obama, stock market | Tagged: | 3 Comments »

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