Hard Truth Week in Review – Health Care Home Stretch Edition

October 17, 2009 by  
Filed under Blog

With the passage of the Baucus health care bill out of the Senate Finance Committee, we have entered the home stretch for health care reform legislation. I think the final bill will have a public option although the Baucus bill does not. My biggest concern is that for those folks who already have health insurance, the “reforms” will ultimately lead to higher premiums for your coverage, so that others can obtain coverage at lower cost. In other words, the law when enacted will be effectively become another welfare or wealth distribution program. I am particularly worried about what will happen to the cost of Medicare supplement programs and Medicare premiums for our seniors. For the speed reader, the AARP published a nice visual summary of the Baucus bill.

Here are some other hard truth articles from the past week that you may like:

Money Musings wrote an excellent commentary about the “bail me out” whinings of a student loan borrower. I have no sympathy for that borrower and no interest in contributing to his bailout. He should put a sock in it and just finish paying his stupid tax without asking for our help.

No Debt Plan kicks his old bank to the street for a better interest rate deal. Further to this topic, at Go To Retirement, I wrote how you can easily get much better interest rates on your money than are offered by the well-known internet savings banks.

On my Failsafe Retirement blog, I wrote about upcoming developments in TIPS and I-Bonds. Folks, if you haven’t yet considered inflation protected securities as a component of your portfolio, you are wasting precious time.

J. Money at Budgets are Sexy comes clean with his buyer’s remorse on the purchase of the house he lives in. Everyone should read and learn from his experience.

Money Ning clears up some important misconceptions about the use of debit cards. Credit card addicts should take note.

Enjoy the rest of your weekend.

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3 Responses to “Hard Truth Week in Review – Health Care Home Stretch Edition”
  1. J. Money says:

    Thanks for the shout out my friend, glad you enjoyed the post.

  2. MasterPo says:

    I know you’ve often pushed TIPS and I-Bonds for inflation reasons. On the surface I agree.

    But keep in mind that at with this current administration the inflation figures are *highly* subjective at best!

    Obama is giving SS seniors a ZERO COLA in 2010 claiming no inflation (actually deflation!) in 2009. Do you seriously think there was zero inflation in 2009?? And word on the street via White House leaks is that he’s going to claim the same for 2010 thereby no COLA for SS in 2011 too!

    With that in mind, how can you be so sure the Treasury won’t follow suit and have little or now inflation adjustment for these bonds? Think about it: How can the White House claim zero inflation and therefore zero SS COLA yet the Treasury have an inflation adjustment upward on TIPS and I-bonds??

    (Unless it’s one hand not knowing what the other is doing. 😉 )

  3. cjbr549 says:

    In support of Masterpo, check out John Williams’ site: http://www.shadowstats.com/

    It explains the manipulation that’s been done with the CPI in the past in plain view of the public. I don’t know how close his numbers are to the “real” inflation, his data shows about a 2% discrepancy, which is believable. There are others out there claiming 7% to 9% discrepancy, but I don’t think that’s possible. I’m not a big conspiracy theorist, but there is allot of motive and opportunity for the government to fudge the CPI. I think they will fudge it as much as they can get away with, as all federal employees COLAs are based on it. Unfortunately, false reporting of this leads to monetary policy decisions that are skewed. Of course, it’s the only game in town, so getting inflaiton adjusted income based on it is better than no income at all.

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