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Joshua's Journal

joshua
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02/10/2009 10:05 #47701

Last Minite Addition to "Stimulus"
Health care legislation in the middle of a supposed economic stimulus plan? This will affect all of you, your parents and your grandparents. This is why Barry trying to hurry this bill with no debate is dangerous.

Take a read and think about it. BTW this is yet another problem with the bill - you know, yet another one of those imperfect things in the bill that we're all supposed to ignore? LOL! Perhaps there may be job creation to some degree as a result of the bill, but Congress is being abusive by including things like this under cloak of darkness, and it is 100% right to debate about this garbage. Even worse, it is cynical to stoke fear amongst the people to get support when they know damn well that they are trying to hide the truth from the people about certain contents of the bill. Included is this latest hidden "stimulative" addition I've mentioned above. That $4 billion payback to ACORN (remember them? Federal investigations in 13 states for voter registration fraud?) is still in the bill as well. Characterizing this bill as "imperfect" is sort of like characterizing Liberace as "a smidgen flamboyant."

If you started spending $1 million per day when Jesus was born, today you'd still be short of $820 billion.

Anyway, to continue. One of my favorites in the article: "A year ago, Daschle wrote that the next president should act quickly before critics mount an opposition. 'If that means attaching a health-care plan to the federal budget, so be it,' he said. 'The issue is too important to be stalled by Senate protocol.'"

You know - no debate, no democracy, etc. Daschle in body is gone but the spirit remains. Well, comrades, ready for a liberal fiat in this country? We already know that Nancy Pelosi has been acting like an outright monarch, pushing a wholly partisan bill drafted up by essentially one man, Rep. Obey of Wisconsin.

Allow me to explain why the GOP didn't offer alternative ideas in the House, since people seem to be wondering.

They simply weren't allowed. One of the first things Nancy Pelosi did this year was eliminate the House rules established by Newt Gingrich (when the GOP first held the House in the mid-90's) that granted the minority party the ability to amend or push back a bill to committee for more debate, otherwise known as the "motion to recommit."

It was a tool made available to Democrats when the GOP first gained power in the House, and now San Fran Nan eliminated it, thereby removing the GOP's ability to offer amendments or extend debate on bills. The problem? The parliamentary tool allows opposition to effectively "kill" a bill if they invoke this "without instructions." This was a tool regularly used by Rahm Emmanuel and the Demos when the were the minority, but in 2006 they found a sudden distaste for it when they were in power. In 2004 Nancy Pelosi adopted a minority party "Bill of Rights" and surely if these rules were stripped at that point (again, the GOP established these minority party rights when they were in the majority) Nancy would have howled. What happened to minority party "rights" now, Nan?

This economic "stimulus" bill was supposed to be the easiest legislation on the agenda to pass, in comparison to another $1,000,000,000,000 in money to banks (wait until you hear about how gov't isn't going to monitor how the money is spent - AGAIN).

With respect to the healthcare stuff, this is the system used in England that they are now running from, since it is such an abomination. Here is an article that by arguing for rationing accidentally highlights the obvious negatives -
Actually, with respect to socialized economies (and this is a slight aside) in spots, the UK has surpassed the former Soviet Union in terms of government contribution to local economies. Incidentally, this is exactly where we are headed if we stay on our current path.

A government bureaucrat "guiding" healthcare decisions for your doctor, with possible penalties ifor the doctor if he or she is not a "meaningful user" of the system (aka, too often not doing what the bureaucrats are telling them)? Think about it.
dcoffee - 02/12/09 15:25
I think Carolinian summed up my feelings on the relation of Healthcare to our economic problems. How much money would our industries save per year if they didn't have to pay for Healthcare or Retirement. The cost of labor in America is "so expensive" that people are shipping our jobs to other countries. And we blame the unions for 'demanding too much from their employer'. I think employers need to start demanding some help from the federal government. It also must be less expensive per person for the government to provide healthcare, because they would have the largest pool of customers, and therefore the most buying power. The federal gov already spends more on healthcare than every other country and we don't even cover everyone.

There is so much waste fraud and abuse in our system. And I'll never understand why an insurance provider, who has NEVER even looked at the patient will deny a procedure that the doctor recommends.

But I do agree that bills in congress need to be more targeted. There are often unrelated things crammed into legislation.

In fact I agree that the economic package should have been simpler. Why not do a series of smaller targeted bills that would win broad support. I think the democrats bit off more than they should have here. I will go way out, and even say that they are suffering from a little bit of a 'shock doctrine' syndrome, where they are using a crisis to push a personal agenda. But I also think Obama is a moderating, somewhat out of the beltway guy.

I do think the compromise bill is looking better. They removed some more junk (including some from the 'centrists' in the senate) and are focusing on the programs that target jobs.

PS, I'm going with NON-partisan from now on. To me, it means policy should be crafted based on research and study of the available evidence. bi-partisan seems more like trying to craft a hodgepodge of somewhat incompatible ideas into something elegantly mild and inoffensive.

something like that.. talk about a hodgepodge :)
libertad - 02/11/09 14:11
The bill you mention should not be included in the stimulus package. That is not fair to force a vote on something that is not really related to the main purpose of the bill. This should be voted on separately. I am not sure whether I would be for it or against it. It seems to me that already insurance companies are denying coverage to people who otherwise might live longer if given treatment. The article makes it seem like that would be something new.

Interesting stuff about Nancy.
carolinian - 02/11/09 01:44
Here's my thoughts, take it or leave it.

- Expenses due to medical crises have been responsible for lowering people's credit ratings so they have to get ARM's to afford having a house

- Expenses due to medical crises have contributed to at least half of all foreclosure filings (at least according to this article, :::link::: it admittedly might be kinda biased).

- American goods cost more than those of foreign competitors because the cost of health insurance for the employees who manufacture said goods is passed on to the consumer. Something like $1500 of the price of a GM car is health insurance for GM employees. If a competitor of GM's builds cars in a country where the government takes care of health care, that GM competitor won't have to spend money on employee health care, and the sticker price for their car can be $1500 cheaper. Yeah, that $1500 is actually coming from that country's taxpayers, but at the end of the day their car is $1500 cheaper and price is often all people look at. Some people scream that the U.S. government shouldn't subsidize the auto industry, but countries with governments who take care of medical stuff have effectively subsidized their auto industries for years by helping out with that $1500 reduction.

Taking these factors into account and considering the mess we're in now, I think that us implementing a nationalized medicine system years ago would have actually been a bargain.

vincent - 02/10/09 22:53
Ah, the "Zero Sum Game" when it comes to people's health care. I guess that's what they were trying to teach me in school when we were doing the "lifeboat" game. Yea, so you're 50 and you have X condition, too bad so sad the resources can be better allocated somewhere else, too bad YOU DIE!!!
joshua - 02/10/09 15:38
Quick hit (some may call this a 'drive by') - :::link:::

More damning than anything I could say. He even goes so far as to suggest that the lack of debate on this bill is a form of tyranny.
joshua - 02/10/09 14:32
JFC, pleeeeease do not get me started on the first $350b of the financial bailout. Or for that matter President Bush's fiscal liberalism and what his administration has done to our national debt. Granted, some of that was spent to prosecute the war on terror, but generally speaking the Bush Administration abdicated their duty to keep our national debt reasonable. I don't have time otherwise I'd write a profanity-laden manifesto on this topic that would probably shock you.

Conservatives actually agree with you on that, Ajay. Not sure why you're trying to pick a fight! I suspect that your case of BDS is waning still. :)

BTW, I don't expect this upcoming $2 trillion financial bailout (which nobody has processed in their heads quite yet and is much larger than the first one) to be much different despite the promises being made.

Despite this, I have to gently remind you that Bush did not "give his cronies $350 billion." What he did was stifle a sharp collapse and prevent a Depression-era collapse of the stock market and our banking system. It was the right thing to do but the wrong way to do it. In fact, the first $350 billion is a perfect case study on why debate on these bills (rather than rushing it through) is imperative and BHO would do himself a favor by heeding that bit of history.

Congress had their opportunity to alter the bill to include more transparency and did not. This time I think they realize that the bill wasn't a mistake, but the lack of transparency was unconscionable. There was nothing terribly partisan about that particular bill.

I'd tell you where the money went, but even our government doesn't know. Not that it is remotely possible to track every dollar of $350 billion when it is spent so fast, if at all, by our government. What is really scary is that nobody is talking about the separate $200 billion the gov't gave to Fannie and Freddie, that had nothing to do with the $700 billion financial bailout. What's up with that money? It is a quasi-government run organization so one might think that the government could find a way to track that cash.

But hey, what's a trillion, or $200 billion, or $700 billion, or even another additional $2 trillion amongst friends? We might as well have some fun while the country burns down. Mark my words - hundreds of billions of dollars in this so-called stimulus will not be temporary, and we are still paying $400 billion (and more) per year to service our current debt.
ajay - 02/10/09 13:22
Where was (e:joshua) when Bush gave his cronies $350 Billion, no questions asked? And what happened to that money? Come on, (e:joshua) ... do some of your investigative journalism and tell us where that money went.

02/05/2009 15:35 #47650

O'Reilly - Vintage Meltdown
Discussion re: my last entry is ongoing but I HAD to share this.


jenks - 02/06/09 23:15
I'll write it, and we'll do it live!
This fucking thing sucks!
There are no words on it!
What does that mean, "to play us out"? To end the show?

bahahahahaha my friends have had entire conversations using only lines from that video, and "DO IT LIVE" has become a bit of a battle cry.

Look up the 'dance remix'- it's worth it.
johnallen - 02/06/09 01:00
crazy man
paul - 02/05/09 20:49
That was me, sorry.
matthew - 02/05/09 20:48
Oh no your journals all fisukped isup. I will investigate when I am home from the gym.
joshua - 02/05/09 17:54
Hey Peter -

Yeah, his show is called The O'Reilly Factor. This is old - mid 90's I'd guess? Before he had his own show he was on Inside Edition.
metalpeter - 02/05/09 17:47
Ok Help here I'm lost since when does he work on Inside Edition the News show. Also isn't his show the O'Riley Factor all live????????????

02/05/2009 10:51 #47648

Corporate Salary Cap
People are asking whether or not this will hurt New York - the answer is yes. Our state taxes these Wall St. bonuses heavily, and knowing the size of these bonuses our state is surely about to lose out on billions in income taxes. It makes you wonder whether or not the state's budget had that "revenue" incorporated into their current and future budget predictions, and how that might affect next year's $12 billion budget deficit.

So - here is where we are. We're happy that these crooks are going to have their income controlled by the government as long as they are borrowing taxpayer money. However, if these fat cats are going to be paying billions less in taxes due to earning less income, who do you think is going to be closing that budget gap? YOU are, one way or another. Isn't that a bitch?

They won't shrink the size of government and spend responsibly. New York State politicians do not have the will to tell people that they've overspent and made obligations they never could have afforded, and now we are about to have to deal with that problem in a harsh way.

Addition of federal tax money to states in this $1T federal orgy will only exacerbate the problem. Politicians who are afraid of possibly having to get a real job would rather sell the state out than tell the people the truth - that the budget has been too big for too long, and that Albany relied on unusually high tax receipts from Wall St. (and now we know why) over the past 5 years to pay for expansion of government programs that wouldn't be sustainable otherwise. Right now, instead of acting responsibly and paring the budget down to match realistic tax receipt projections, they are waiting to make a decision until that $160B for states is released. Cute, huh?

Not to mention that our state (and our county, and our city...) does its budgeting backwards, thinking of what to spend on before understanding how much you actually have to spend.


joshua - 02/05/09 13:39
Goddammit, I wrote a monster response only for it to disappear...

I'll summarize what I was going to tell janelle - I read the same article! While it is true that bonuses are not outright banned, the method and time structure of these payments will be affected, and that is causing anxiety on the street. The rule will still have an effect on our state tax receipts, even if the reduction in bonuses was modest, say $1B off of that nearly $19B that was just paid out. Even a $1B change would freak Albany out right now.

For example, let's take a look at this thief from Countrywide, Angelo Mozilo. :::link::: In 2006 he was paid almost $3M in base salary, $20.5M in cash bonus and an additional $72.2M in stock. Under the rules right now, the bonus payment wouldn't be allowed, his base salary would be reduced 80% and he would not be allowed to extract any of the money from his stock until Uncle Samuel got his first.

I think there is a question of how effective this will be, but what most people don't realize (because they aren't being told by anyone) what it means when they say that only those who took taxpayer money will be subject to these changes. Most firms on Wall St. did not take taxpayer funds and will pay their executives whatever they like. I think the popular assumption is that Wall St. bonuses are going to be drastically reduced, which will probably not be true. For my part, I'm simply looking at how even a modest change would be big news for our state.
joshua - 02/05/09 13:22
(e:janelle) - yeah, I read the same article this morning! The legislation specifically does not ban bonuses and so that is technically true. But the legislation does limit cash compensation to top executives(which is important - they still cannot be paid above $500,000 in cash regardless of how or when it is delivered) and it does restrict the selling of stock options until after the government has been paid back. So a CEO can still be paid $500,000 cash and $20,000,000 in stock to be sold after Uncle Samuel gets his. Who knows when that will be? This will still affect the behavior of Wall St., as you can see by the reaction to the law from yesterday's market activity. The street ain't happy... but as far as I'm concerned, screw them!

Another point that article made that is interesting to point out - this limit only applies to top executives. The "golden 25" or "golden 50," as it were. If you are a junior executive, or an extraordinarily well paid floor trader, etc., you can still earn millions of dollars. I don't particularly have a problem with that and don't see it as an issue. These people aren't the Madoffs or the Fulds of the world, and last I checked it was still perfectly legal to earn a lot of money in the United States. The design is to limit the pay of these top-flight "golden parachuters" who ruin their companies and end up with hundreds of millions.

(e:jho) - we'll see about how effective it is... I fully expect that these guys will find other ways to compensate themselves at the expense of the company and its clients. Plus, as the article highlights (or perhaps laments...), it doesn't address the companies who haven't taken government money. Wall St. will still pay out lots of money and people are going to wonder why, not realizing that it won't affect people who didn't go to the gov't for help.

In the end though, even a $1B reduction in tax receipts from Wall St. would drastically affect our state budget, so from my view even a modest reduction in executive compensation as a result of this law will result in loss of tax receipts that Albany will find tough to handle at the moment. Can we expect that the law will function in the way it was meant to? Nobody knows. We're already at the point where our state government is using a $600+ SUNY tuition increase solely to close a $1.7B state budget gap, which by the way has little to do with education and a lot to do with mismanagement.
james - 02/05/09 13:10
Because NYS is so dependent on sales and property tax we actually have a regressive tax structure, which is absolutely insane. So, I wonder what kind of impact this will have on a county by county level.

But the proposal from Obama has no teeth in it what so ever. I have to wonder if it is a warning shot, appealing to these fat cats basic survival instinct to not be such fucking dicks with our money.
jason - 02/05/09 12:53
I'm more concerned about their bon bon eating, luxuriating, not working, gold-diggin ass WAGs are going to do. Oh heavens!
hodown - 02/05/09 12:18
This salary cap is also not retroactive. All the fatcats basically get to keep their salaries. Honestly- I think this one was a lot of hot air that won't amount to much.
janelle - 02/05/09 12:05
An article I read in the NY Times indicated that the bonuses were not included in the salary cap.

:::link:::

Shareholders have a say in bonuses above the cap amount and there's not limits on what they can reward. And it doesn't apply to the 350 institutions that already applied for bailout funds.

It seems like it might take time to see just how much of an impact it will have on the NY state budget. But I hear ya on the budget. See what you have first, then budget accordingly. Basic budgeting 101.

01/30/2009 10:28 #47569

Outlandish Dog Haircut
Told you -

image

Happy Friday -

Josh


PS - I have a post coming re: the whatever you'd like to call it going on in Washington at the moment.
ladycroft - 02/06/09 06:10
is this donald turmp's dog? ha
dcoffee - 02/01/09 15:10
dud you could be a pundit :) you were right on about Michael Steele
libertad - 01/30/09 16:34
hehe!
jason - 01/30/09 14:42
Well, on the bright side, after that 4-pack of Piraat she will look like a beauty queen.
hodown - 01/30/09 12:12
I can't decide if that's cute or scary. Can it be both?

Also looking forward to what you have to say about DC.
james - 01/30/09 10:59
That dog is sporting The Blago. Very fashionable these days.
mrmike - 01/30/09 10:49
That is bad, makes the poor dog look like Will Robinson on Lost in Space

01/21/2009 21:21 #47480

The Cancelling of a Coronation
Sorry, Princess Caroline!



I'm absolutely thrilled that she bowed out. Then again, Andrew Cuomo, who I've previously been high on, shouldn't be selected either IMO based on his mismanagement of HUD, including having $59 billion of HUD money "disappear." If you want to read about how he was involved in the Fannie/Freddie scandal read this Village Voice article -

I'll go with Gillibrand. She's a Democrat that I'd consider supporting based on her positions, and it seems like she'd be more of a consensus candidate for the entire state. Steven Israel seems to really, really, really want to be a Senator... which is why he should not get it. He should be thankful his district was gerrymandered in his favor six years ago.
james - 01/22/09 10:39
Ted has brain cancer, and he seems to have no trouble being a senator. He must be made of sterner stuff than his niece.
joshua - 01/22/09 09:15
I heard it on NPR this morning during the ride into work as well! But you know how deeply cynical I can be - it is so ridiculous that the media is tying this decision to the health of her uncle. I don't believe that crap - do you? She knew damn well that she had perpetrated the most botched political debut in NY history and possibly American history, given her famous name. Call me a cynic but I think Uncle Ted's seizure is being used as a convenient excuse.
james - 01/22/09 00:32
the WTF just got bigger
:::link:::
james - 01/21/09 23:16
Not so fast! :::link:::

This is the biggest WTF in the race so far.