February 4, 2012

The Day After…Trying to Understand Obama's Healthcare Plan

I watched it, but I have to say I don’t get it.

President Obama’s press conferences are increasingly sounding like the ShamWow infomercials. He might have a legitimate claim to be on PitchMen. I must admit, I am kinda waiting for what else I get for $19.95.

So let’s tool through the morning coverage and see if anyone has figured it out…

BBC: I think the BBC captures the healthcare reform landscape in the closing paragraphs:

The speaker of the House of Representatives, Democrat Nancy Pelosi, said on Wednesday that her party had the votes needed to pass the reform there.

“It will take some time,” she said. “But we are going to do it right.”

House Republican Leader John Boehner called on Mr Obama to scrap the bill and start again “in a bipartisan way”.

“If they try to fix our healthcare system like they’ve tried to rescue our economy, I think we’re in really, really big trouble,” he said.

Some opinion polls show that barely half of Americans now approve of the way Mr Obama is handling healthcare reform.

So, if I read that right the Democrats say we have the numbers, it’s happening! The Republicans are complaining it is more legislation built from the top down. And, nearly half (and I suspect growing) of the American people are confirming that they don’t like what is happening.

Washington Post: The Washington Post hints at my Pitch Man analogy. I am not comfortable with government leaders that are adept at being “bending public opinion, and Congress, to his will.” Sounds too much like manipulation.

Since taking office, President Obama has preached the urgency of implementing the big items on his long list of policy priorities. And he has been largely successful at bending public opinion, and Congress, to his will — on the stimulus package, financial bailouts and his budget, with unprecedented new investments in education and renewable energy.

The Big Money: Some are already calling foul on President Obama’s numbers–Millionaire tax for healthcare? More like $350,000 and dropping. Does this sound familiar? Remember the debate over what “rich” was and where the line for “tax breaks” would be drawn? Very similar, very similar.

Americans would not shoulder the costs at the end of the day, the president said that, in turn, a surcharge on the highest-income Americans would be acceptable. According to the Wall Street Journal, the health care bill costs are estimated at about $1 trillion over a decade, and, as it stands now, the bill calls for a surtax on families earning $350,000 and up—a figure House leaders have already signaled may be too high.

Mish’s Global Economic Trend Analysis: Mish asks some real questions in an open letter to President Obama.

  • Will the plan cover a transplant procedure with a $50,000 cost for someone who is 80 years old with a life expectancy of two years? One year? Who decides? Or is everything free for everyone regardless of the odds of success?
  • Will the plan cover fertility treatments? Abortion?
  • Will the plan address issues that arose in the Terri Schiavo case?
  • To what extent must doctors provide generics instead of prescription drugs?

Mandelman Matters: Of course, my favorite–Mandelman covers it his way.

It’s no secret that millions of American families live with the constant threat of having to take care of a family car as it ages and requires more intensive repairs. In some cases we’re just talking about tires, breaks and tune-ups… but for less fortunate Americans, we’re talking about transmissions, exhaust systems, and even entire engines. In many cases, these families are not only suffering from the financial burden associated with these repairs, but they are ending up being forced to take cabs and even ride busses.

Some polling data:

About Bill Rice

Bill Rice is a mortgage banking veteran operating in and writing about the mortgage market for over a decade. Bill is the founder of Kaleidico, which provides mortgage banking customers with lead generation and lead management solutions.

Prior to Kaleidico, Bill was one of the founding executives of DeepGreen Bank, the first fully automated mortgage lending Internet banking platform and lead similar home equity innovations as the VP of National Home Equity at Quicken Loans.

He can be contacted at bill.rice@kaleidico.com.

Comments

  1. Tim Manni says:

    Great post Bill.
    I think you really rounded the bases on this post, way to touch a lot of the serious issues regarding the health care reform. I get so discouraged when one legislative majority, whether Democrat or Republican, say well 'we have the numbers to vote yes, so it's yes.' That takes most of the debate right out from under the program. When Pelosi says something like that, it says to me that they're really not as concerned with making the right decision as they are with merely putting the law into action. That says to me there's an ulterior motive.

    Again, great post on the subject, very expansive.

    -Tim

  2. Tim Manni says:

    Great post Bill.
    I think you really rounded the bases on this post, way to touch a lot of the serious issues regarding the health care reform. I get so discouraged when one legislative majority, whether Democrat or Republican, say well 'we have the numbers to vote yes, so it's yes.' That takes most of the debate right out from under the program. When Pelosi says something like that, it says to me that they're really not as concerned with making the right decision as they are with merely putting the law into action. That says to me there's an ulterior motive.

    Again, great post on the subject, very expansive.

    -Tim

  3. Tim Manni says:

    Great post Bill.
    I think you really rounded the bases on this post, way to touch a lot of the serious issues regarding the health care reform. I get so discouraged when one legislative majority, whether Democrat or Republican, say well 'we have the numbers to vote yes, so it's yes.' That takes most of the debate right out from under the program. When Pelosi says something like that, it says to me that they're really not as concerned with making the right decision as they are with merely putting the law into action. That says to me there's an ulterior motive.

    Again, great post on the subject, very expansive.

    -Tim

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