Bloomberg.com: FDIC running out of money to insure consumer deposit accounts: "Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency."
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Sounds like a great time to expand health care coverage, don't you think? What's a few trillion more?
3 comments:
So who cares if the country is going bankrupt? A trillion here and a trillion there and soon you are talking real money.
The inmates are running the asylum, and the inmates are financial and fiscal kamikazes. The Pelosi Politburo and the Obama regime will have its big party and send the rest of us the enormous bill.
Maybe the lamebrains who elected these elitist slimeballs will realize what they did to the country when THEIR bank account is emptied by taxes or bank failure.
They wanted CHANGE! That may just be all that is left after the Obama regime spends the rest.
We need health reform and now as we cannot afford the "system" we have. We can't go on spending twice what the rest of the world spends for less service, more "pre-existing" exclusions and rising waiting lists. I don't really care how we get it at this point.
The real proof in the pudding will be whether or not there's serious cost control. That will include, but is not limited to, a dramatic downsizing for insurance companies so that we get down from the 40 percent of health spending we blow on administration to the 10 or so the rest of the world spends, major malpractice and tort reform, restructuring doctors' pay, and nuking Medicare Part D and its drug company pork. Those four areas are the most obvious respects in which we deviate from the health systems of the rest of the world in terms of cost.
What bothers me is that not enough politicians, especially on the right, understand the need for reducing cost. Perhaps that's a legacy of America lacking a true conservative party. We just have a bunch of talk show blowhards and think tank kooks, and the genuine conservatives at places like the Concord Coalition have been practically disowned by the Republicans.
Actually, re-reading over that, I do care how we get it at this point -- health care reform without the cost reduction I mention won't work. Doesn't matter whether it's private, socialized, medical savings accounts or whatever.
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