Tag Archives: neo

President Clueless? Not so fast…

Posted by: Betsm

Reports claim Obama kisses up to the bankers in an interview. Critics on the left erupt! Here’s why they shouldn’t

President Barack ObamaPretty clever, those Bloomberg folks! First they buy BusinessWeek. Then BusinessWeek gets an interview with President Obama. Then, one day before the interview is to run, Bloomberg scoops its sister publication by excerpting a couple of choice nuggets suggesting Obama is cuddling up to the banks.

President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay…

“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system.”

Unsurprisingly, two of Obama’s harshest critics on banking policy — from the left — immediately went ballistic. Simon Johnson called it “a major public relations disaster” and Paul Krugman, in a post titled “Clueless,” said “you would think that Obama would understand the importance of acknowledging public anger over what’s happening” and declared that “we are doomed.”

Hmm. Maybe we should read the entire interview before rending our hair and screaming doom and disaster? If there’s one thing we know about the president, it’s that he is pretty good with nuance and capable of making complex, multifaceted arguments. His performance during his meeting with the House GOP two weeks ago should provide all the evidence we need for that.

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Read the entire article by Andrew Leonard @ Salon

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Filed under Bad Journalism, Banking, Barack Obama, Blogging, Capitalism, Democrats, Economy, Free Market, Media and Entertainment, Money, News, Opinions, Partisan Politics, Politics, Pres. Barack Obama, Presidents, Republicans, Uncategorized

Why Do People Often Vote Against Their Own Interests?

Posted by: Buellboy

Americans voicing their anger at the healthcare proposals at a town hall meeting


The Republicans’ shock victory in the election for the US Senate seat in Massachusetts meant the Democrats lost their supermajority in the Senate. This makes it even harder for the Obama administration to get healthcare reform passed in the US.

Political scientist Dr David Runciman looks at why is there often such deep opposition to reforms that appear to be of obvious benefit to voters.

Last year, in a series of “town-hall meetings” across the country, Americans got the chance to debate President Obama’s proposed healthcare reforms.

What happened was an explosion of rage and barely suppressed violence.

Polling evidence suggests that the numbers who think the reforms go too far are nearly matched by those who think they do not go far enough.

But it is striking that the people who most dislike the whole idea of healthcare reform – the ones who think it is socialist, godless, a step on the road to a police state – are often the ones it seems designed to help.

In Texas, where barely two-thirds of the population have full health insurance and over a fifth of all children have no cover at all, opposition to the legislation is currently running at 87%.

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Why Progressives Are Batsh*t Crazy to Oppose the Senate Bill

Op-ed by Nate Silver of FiveThirtyEight.com

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Pick your sub-headline:

a) It’s time to stop being polite and start getting real.
b) Here’s hoping a picture is worth 1,000 words.



Any questions?

OK, I imagine that there will be a few. Here’s how I came up with these numbers.

Senate Bill. These estimates are straightforward — they’re taken directly from the CBO’s report on premiums for people at different income levels. A family of four earning an income of $54,000 would pay $4,000 in premiums, and could expect to incur another $5,000 in out-of-pocket costs. The $4,000 premium represents a substantial discount, because the government is covering 72 percent of the premium — meaning that the gross cost of the premium is $14,286, some $10,286 of which the government pays.

One caution: this reflects the situation before the public option was removed from the bill. But, provided that the subsidy schedule isn’t changed as well, that shouldn’t change these numbers much.

Status Quo. In 2009, the average premium for a family in the individual market was $6,328, according to the insurance lobbying group AHIP. However, this figure paints an optimistic picture for two reasons. Firstly, the average family size in the AHIP dataset is 3.03 people; for a family of four, that number would scale upward to $7,925, by my calculations. Secondly, the CBO’s estimates are based on 2016 figures, not 2009, so to make an apples-to-apples comparison, we have to account for inflation. According to Kaiser, the average cost of health coverage has increased by about 8.7 percent annually over the past decade, and by 8.8 percent for family coverage. Let’s scale that down slightly, assuming 7.5 annual inflation in premiums from 2009 through 2016 inclusive. That would bring the cost of the family’s premium up by a nominal 66 percent, to $13,149. And remember: these are based on estimates of premiums provided by the insurance lobby. I have no particular reason to think that they’re biased, but if they are, it’s probably on the low side.

Not only, however, would this family paying a lot more under the status quo, but they’d be doing so for inferior insurance. According to the CBO, the amount of coverage in the individual market would improve by between 27 and 30 percent under the Senate’s bill. Taking the midpoint of those numbers (28.5 percent), we can infer that there would be about $1,427 in additional cost sharing to this family in the status quo as compared with the Senate bill; this would bring their cost sharing to $6,427 total.

Add the $6,247 to the $13,149 and you get an annual cost of $19,576 — for a family earning $54,000! Obviously, very few such families are going to be able to afford that unless they have a lot of money in the bank. So, some of these families will go without insurance, or they’ll by really crappy insurance, or they’ll pay the premiums but skimp on out-of-pocket costs, which will negatively impact their fiscal and physical health. But if this family were to want to obtain equivalent coverage to that which would be available to them for $9,000 in the Senate bill, it would cost them between $19,000 and $20,000, according to my estimates.

Status Quo with SCHIP. Fortunately, some families in this predicament do receive some relief via the SCHIP program. SCHIP eligibility varies from state to state; a family earning income at 225 percent of the poverty line, as this family does, is eligible for SCHIP in about half of the country.

Premiums are fairly cheap under SCHIP — for a family at 225 percent of poverty, generally on the order of about $60 per month to cover two children. We’ll assume that this will inflate slightly to $75 per month, or $900 per year, by 2016.

The two adults in the household will still have to buy insurance in the individual market, which will cost $7,684 by 2016. That makes the family’s total premium $8,584.

For the adults, we assume that the cost sharing component runs proportional to premiums, and totals $3,756. For the children, this calculation is a little bit more ambiguous. Out-of-pocket costs under SCHIP are capped at 5 percent of family income, which would be $2,700 for this family. But that’s a cap and not an average — we’ll assume that the average is half of the cap, or $1,350. Total cost-sharing, therefore, is $5,106 between the adults and the children.

This means that premiums plus out of pocket costs will equal $13,690 for this family. I estimate the subsidy by subtracting this figure from the cost of unsubsidized insurance in the individual market; the difference is $5,885.

Caveat/Disclaimer. There are, obviously, some simplifying assumptions here, especially with regard to SCHIP. The only thing I can promise you is that I’m “showing my work“. I would actively encourage people to pick apart these numbers and come up with their own, more robust estimates. One thing that should probably be accounted for is that the families in both the status quo and the status quo + SCHIP cases will frequently be able to deduct their health care expenses from their taxable income, especially if they’ve incurred substantial out-of-pocket costs. That means that the difference in net costs is slightly exaggerated by my figures.

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Read the rest @

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The closing…

Nate SilverI understand that most of the liberal skepticism over the Senate bill is well intentioned. But it has become way, way off the mark. Where do you think the $800 billion goes? It goes to low-income families just like these. Where do you think it comes from? We won’t know for sure until the Senate and House produce their conference bill, but it comes substantially from corporations and high-income earners, plus some efficiency gains.

Because this is primarily a political analysis blog, I think people tend to assume that I’m lost in the political forest and not seeing the policy trees. In fact, the opposite is true. For any “progressive” who is concerned about the inequality of wealth, income and opportunity in America, this bill would be an absolutely monumental achievement. The more compelling critique, rather, is that the bill would fail to significantly “bend the cost curve“. I don’t dismiss that criticism at all, and certainly the insertion of a public option would have helped at the margins. But fundamentally, that is a critique that would traditionally be associated with the conservative side of the debate, as it ultimately goes to mounting deficits in the wake of expanded government entitlements.

And please do pick apart my numbers: I’m sure that you will find some questionable assumptions and possibly some outright errors. But if you found a persuasive, progressive policy rationale against the bill, I’d be stunned.~~Nate Silver

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Filed under (Senate Majority Leader) Harry Reid, Government, Health, Health Care Reform, Media and Entertainment, Medicine, Nate Silver, Obama Administration, Politics, Pres. Barack Obama, Public Option, Senate, Uncategorized, United States

President’s Name and Swastika Carved into Golf Course

Golfers finish their round on the 18th hole at the Lakeville Country Club, where a swastika was found carved into the green next to President Barack Obama's name on Sunday.

Golfers finish their round on the 18th hole at the Lakeville Country Club, where a swastika was found carved into the green next to President Barack Obama's name on Sunday.

Seven News Boston—Police along with the Secret Service are investigating after a local country club discovered a symbol that represents eastern religious beliefs carved into the green.

Lakeville Country Club workers discovered the vandalism early Monday morning.

Police believe the vandals meant to carve a swastika next to President Barack Obama’s name on the 18th hole; however, the symbol was backwards and means hope and peace in some Eastern countries.

The vandals snuck in at night to carve their message, according to the owner of the country club.

We don’t know if they did it with some type of cleated shoe, or they had some type of tool and this time of year to have that happen, it’s a problem it’s much harder to fix now,” said Lou Mincone, the assistant manager of the Lakeville Country Club.

The carving is about 10 feet by 10 feet.

The manager is trying to figure out the best way to get rid of it.

Workers attempted to cover it temporarily with green spray paint; however, the symbol was carved too deep. They will now try to get turf from another area to fill in the message.

Work is scheduled to begin on Tuesday morning.

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