Wisdom from Samuelson (no, not that Samuelson!): President Obama's critics sometimes say that he is engineering a government takeover of health care or even introducing "socialized medicine" into America. These allegations are wildly overblown. Government already dominates health care, one-sixth of the economy. It pays directly or indirectly for roughly half of all health costs. Medicine is pervasively regulated, from drug approvals to nursing home rules. There is no "free market" in health care. What's actually happening is just the reverse, which is more interesting and alarming: Health care is taking over government.
Health Care Nation
07 December 2009
03 December 2009
02 November 2009
Up Against a Wall of Debt
Seems I was wrong when I told my classes that we can:
1. Raise Taxes; or,
2. Cut benefits; or,
3. Inflate the currency to get rid of debt.
There's another alternative, repudiate the debt: the US Govt defaults.
Quoth the maven:
read the rest:
Up Against a Wall of Debt
1. Raise Taxes; or,
2. Cut benefits; or,
3. Inflate the currency to get rid of debt.
There's another alternative, repudiate the debt: the US Govt defaults.
Quoth the maven:
"Governments of rich countries are borrowing so much that it's conceivable that one day the twin assumptions underlying their burgeoning debt (that lenders will continue to lend and that governments will continue to pay) might collapse. What happens then?"
read the rest:
Up Against a Wall of Debt
20 October 2009
Every Time Congress Promises Future Savings, Its Nose Grows a Little Longer - Hit & Run : Reason Magazine
12 October 2009
09 October 2009
07 October 2009
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