My thought for the day... I read a lot of news and some of the stuff is pretty funny. So the news that has been circulating yesterday and today is the release of a video from one of the Obama administration consultants for Obamacare. In an interview from a while ago, economist Jonathan Gruber, at a conference with other economists, said that the bill was written in a tortured way to make sure that the Congressional Budget Office did not record the mandate as new taxes. He admitted that the bill was written with a lack of transparency and said that the stupidity of the American voter was really critical to getting the bill passed. Well, they succeeded and include myself in the stupid group, because I dont understand Obamacare. Ive read summary after summary and I still dont get it. The only thing that I do understand is that I have to pay a lot more premium for lower quality insurance. And I still dont have the rates for 2015 and I shudder to think how much more I will have to pay while the deductible, co pay, and out of pocket maximum all go up. In my opinion, it is because of Obamacare that the Rebublicans were able to capture the Senate and win additional seats in the House. And the President is under the belief that he lost the Senate because of gridlock in Washington and the inability of Congress to pass an imigration bill. The reasons for the Republican victory can be debated, but I think that a lot of Americans prefer Washington gridlock because it prevents more bad legislation from becoming law. Once Hillary makes her announcement, it will be very interesting to hear her views about Obamacare. My guess is that she will have to throw him under the bus, and run over him too, if she wants to win in 2016. Whatever the reason for the shift of Congressional power, Wall St. seems to be applauding the new power shift as the stock market keeps making new highs nearly every day, including today. Best performing stock today was Yelp up $3.24 or 5.49%.
Posted on: Tue, 11 Nov 2014 22:07:10 +0000
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