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Obamacare Going to Pass?

The oddsmakers are telling us there’s an 80% chance of passage. Hold on to your wallets.

  • John @ The Financial Ladder March 20, 2010, 9:53 am

    He has everyone fooled too. The bills focus is to cover people who aren’t covered by forcing them to get insurance. The bill won’t address health care costs. In fact it will make it more expensive. And the way they’ll be passing the bill is despicable in itself…

  • JL March 20, 2010, 10:02 am

    I like your sound and reasoned argument. “Hold on to your wallets.”

    Classy. Professional.

  • JOE March 20, 2010, 10:19 am

    The Saturday political cartoons are (obviously) not meant to offer a detailed analysis or insight. I suppose I could have offered the disclaimer that I’m actually in favor of it, with the promise of an in depth post to come. I don’t know that I can make such a commitment, given the size of the bill, and knowing that the people actually voting it through likely haven’t read through a fraction of it. Here I’ll state, I believe the current system is very broken. Whatever the initial system offers, it will require refinement until it’s well structured and sustainable. At first, it will almost certainly be a higher cost, but over time, it will provide savings to the current system.

  • JL March 20, 2010, 10:24 am

    Didn’t the Republicans pass several bills in the same fashion?

  • JOE March 20, 2010, 10:58 am

    Absolutely.

  • Len March 20, 2010, 1:39 pm

    Wallet? What wallet? The Republicans got my wallet years ago.

  • Investor Junkie March 20, 2010, 2:39 pm

    I don’t see anything that will help small businesses. I hope I’m wrong, but this will not end well.

  • Michael Harr @ Wealth...Uncomplicated March 24, 2010, 6:03 pm

    @JL – I’d say ‘hold onto your wallets’ is pretty appropriate. Even the CBO estimates the cost of this bill to be $1 trillion in its first ten years. That’s not a small number, and with 130 million households, it’s around $769 per year on average for each household. This equates to a 1.6% tax rate increase based on the median household income of just over $49k.

    I like the fact that the Dems did their jobs by increasing access. I hate that it was dubbed ‘health care reform’. It should have been called ‘health care access reform’ instead. Either way, this bill isn’t enough. I want to see more legislation mandating centralized/standardized medical recordkeeping, tort reform, better allocation of resources (i.e. if you have a cold, don’t just make emergency rooms take care of the un/under-insured, send them to Walgreen’s Take Care Clinic or similar), and a host of others that can get at fundamental inflation drivers. They needn’t be packaged into a grand bill, but a series of small changes would be warmly welcomed.

  • White Flood March 31, 2010, 7:55 am

    Hey – quality article. As we all know, the healthcare plan is now signed. We don’t yet know everything there is to know about it, but we all know that it is that it won’t be cheap. I’m a small-business owner, and I’m worried about the new taxes. I want to hire more employees, but the bill makes things extra difficult for us small guys. Here’s the big question: If none of us are hiring, how can this economy get back on its feet? Anyhow, cool site – I’m subscribed to your feed now so I’ll check in more often!

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