Middle Class Dismissed

Why the White House Is Panicking About Obamacare

"About one in every four individuals who are eligible for Medicaid in this country has not bothered to enroll. About one in five employees who are offered employer-provided health insurance turns it down; among workers under 30 years of age, the refusal rate is almost one in three. Think about that for a moment. Millions of people are turning down (Medicaid) health insurance, even though it’s free! Millions of others are turning down their employers’ offers. Welcome to the huge disconnect in health reform. On the one hand there are the people who are supposed to benefit from health reform. On the other hand there are the people who talk about it and write about it." Continue reading →

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Bill Bonner: America’s faith-based economy

"Did Mary really ascend to Heaven on this day? Was she really a virgin? Did she really give birth to the son of God? You need faith to believe such things. Likewise, you need faith to believe that a piece of green paper is ‘money’. You are also supposed to believe that its managers will make sure this ‘money’ holds its purchasing power even as they do their damnedest to undermine it. But to believe that you need more than faith. You need a full frontal lobotomy." Continue reading →

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Detroit, Demographics and Detonation

"The baby boom generation is an abnormality. It was the byproduct of halcyon days — not that we knew it at the time. But as we have seen in Detroit, when demographics shift from production to pension, there is trouble ahead. Low birth rates combined with a plethora of maturing adults on the cusp of retirement turns the pyramid of society on its head. Lower growth in itself is not a bad thing. We are still moving forward. The problem is certain promises (welfare and health commitments) have been made that cannot be kept if growth does not return to around the 3% mark. Putting this genie back in the bottle is going to be a political nightmare." Continue reading →

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Rising Inequality and Poverty: Can They Be Fixed?

"Societies can choose between two forms of relatively stable but impoverishing feudalism--stagnant backwater or financial--or accept the existential risks of embracing innovation and experimentation, not just in narrow technological fields but across the entire economy, society and government. Incentivizing the values that favor wealth creation--thrift, investing, improving skills, entrepreneurial drive, flexibility, strong families--may be just as important as leveling the playing field, i.e. maintaining opportunity via maintaining access to education and social capital building." Continue reading →

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Economist: Obamacare Will Cost 4 Million Jobs

"A contraction of 3% means big job losses. About 4 million jobs, to be precise. This would, of course, end up added to the current jobs deficit of more than 8 million, according to the Economic Policy Institute. Obamacare, meanwhile, purports to enable access to insurance coverage to tens of millions of new people. 'What we are describing is a huge increase in the demand for care,' says Goodman. 'But the Affordable Care Act does nothing to increase supply. This is virtually guaranteed to put upward pressure on prices. To the extent that prices are prevented from rising, it will create enhanced rationing by waiting.'" Continue reading →

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Obamacare: “Let’s Just Make Sure It’s Not A Third World Experience”

"We begin today by checking our premises: In order to imagine something working forever, it must begin to work in the first place. When asked last Friday about what the future holds for the Affordable Care Act, Senate Majority Leader Harry Reid said, 'What we’ve done with Obamacare is a step in the right direction, but we’re far from having something that’s going to work forever.' The law takes full effect Jan. 1, 2014, and the online exchanges launch on Oct. 1, 2013. But lofty expectations are being played down as logistical problems become worse and worse." Continue reading →

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‘Affordable’ Care: $1 Pay Hike Costs Middle-Class Family $9,355 Hike in Premiums

"When the Patient Protection and Affordable Care Act (AKA Obamacare) is fully enforced on individuals and families next year, a middle-aged, middle-class couple with three children could be hit with a $9,355 hike in their annual health-insurance premiums if their annual household income happens to increase by just $1. According to the IRS, which responded to a CNSNews.com inquiry on the issue, a household earning an annual income that is just $1 more than 400 percent of the FPL is ineligible for an Obamacare subsidy, period. A family of four, in which both parents were 56 years old, would hit the 400-percent of FPL threshold at $94,200." Continue reading →

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Let’s stop wrecking lives over a bag of weed

"For 29 years, I have defended clients facing marijuana charges in the District. At every initial appearance, without fail, the judge admonishes the defendant either to stay in school or to hold down a job. But most employers in this town will not hire entry-level workers who do not have a police clearance. What crime is increasingly tripping up those looking for work? Possession of marijuana. In 1995, police in the District arrested about 1,850 people for having pot. By 2011, the number had skyrocketed to more than 6,000. There are twice as many marijuana arrests in the District as there are students graduating from D.C. high schools each year." Continue reading →

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Taking pills for unhappiness reinforces the idea that being sad is not human

"I was trouble at school. Thank God this was in the early 80s, otherwise I bet someone would have suggested Ritalin. For, since the mid 80s, society has decided that adolescent trouble-making is some sort of medical condition. We have given it a scientific-sounding classification, ADHD, securing a sense that a messy adolescence is pathological, some sort of chemical imbalance. Thus the scientists are called in to reinforce generally conservative norms of appropriate behaviour. In the US, between 1987 and 2007, there was a 35-fold increase in the number of children being classified as having some form of mental deficiency." Continue reading →

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