Health

Authored by Howard Kunstler via Kunstler.com,

Think of the ObamaCare reform debate now playing in the US Senate as the final gurglings of polity that knows it is whirling around the drain. They’re pretending to attempt to fix a racket that comprises eight percent of the American economy. Yikes! How did that happen? At the beginning of the 20th century it was one-quarter of one percent (.25 percent) of the economy.

Source: USGovernmentSpending.com

Earlier today, Senators Rand Paul (KY), Ted Cruz (TX), Ron Johnson (WI) and Mike Lee (UT) issued a joint statement announcing their opposition to McConnell's healthcare bill on the basis that it did not fulfill a promise made to the American public to "repeal Obamacare and lower their health care costs."  Here was the full statement:

Laying the groundwork of Leftist talking points for the next few days, former President Barack Obama took to his Facebook page to defend Obamacare against the GOP's Healthcare Plan... [emphasis added]

Our politics are divided. They have been for a long time. And while I know that division makes it difficult to listen to Americans with whom we disagree, that’s what we need to do today.

 

The Senate healthcare bill has been "in the open" for less than an hour, and already NBC's Chuck Todd reports that it may be DOA after "at least" 3 GOP senators plan to publicly announce their opposition to the bill.

In a tweet, NBC anchor Chuck Todd said that according to a “solid” unnamed source "at least 3 GOP sens (perhaps more) plan to announce public opposition to McConnell health bill later today."

Update:  Senate Republicans have just released their official 142-page healthcare bill.

Here are some initial takeaways from the Wall Street Journal:

• The bill seeks funding for insurers through 2021
• The bill provides tax credits, lowers income eligibility
• Tax cuts on high-income households largely unchanged from House plan
• Bill suspends 'Cadillac Tax' on employer health plans through 2025

Specifically on Taxes: