Alex. 25. San Francisco, CA. Queer. Tomboi. Writer. Ravenclaw - FelicisCat19471. Talk to me. Tell me your problems. If I can't solve my problems, maybe I can help solve yours.
Four sources deeply involved in the Affordable Care Act tell NBC NEWS that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a “cancellation” letter or the equivalent over the next year because their existing policies don’t meet the standards mandated by the new health care law. One expert predicts that number could reach as high as 80 percent. And all say that many of those forced to buy pricier new policies will experience “sticker shock.”
None of this should come as a shock to the Obama administration. The law states that policies in effect as of March 23, 2010 will be “grandfathered,” meaning consumers can keep those policies even though they don’t meet requirements of the new health care law. But the Department of Health and Human Services then wrote regulations that narrowed that provision, by saying that if any part of a policy was significantly changed since that date — the deductible, co-pay, or benefits, for example — the policy would not be grandfathered.
It’s not like consumer debt. If you or I have a bit of extra money, and we’re feeling conservative, we could put it in the bank. If the bank is conservative, it puts the money in U.S. government bonds. The bond is good because it’s backed by the full faith and credit of the United States government. Alternatively, the bank could just fill a vault with paper currency … which would be a solid way to store value so long as the full faith and credit of the United States government backs the currency. The point is that pretty much all currency in the world is essentially an I.O.U. from one government or another. So some amount of debt is unavoidable if we’re going to have a functioning global economy. And, as the world reserve currency, “some amount of debt” is a really high number.
Total debt is far less important than the annual deficit. A very high percentage of the national debt is money owed by our government to itself.
The national debt helps global security. If we owe various people in China $1.3 trillion, we have $1.3 trillion in leverage over China. It’s a bit more complicated than that—because there are two ends to any lever. But having China dependent on us if it wants to see any of a significant portion of its assets again isn’t wholly a bad thing.
The perceived stability of U.S. debt is one of our more important assets. There aren’t a whole lot of things you could blow up that would be more damaging to the future of the country than that.
If you’re interested in things like “facts,” this is a good read.
Of course, if you believe Obama is the one responsible for a massive explosion in the size of our federal government, I think there just may not be any hope for you where “facts” are concerned… but whatevs.
“Success may not come quickly or easily. But if you strive to do what’s right, if you work harder and dream bigger, if you set an example in your own lives and do your part to help meet the challenges of our time, then I’m confident that, together, we will continue the never-ending task of perfecting our union.” —President Obama to Morehouse College graduates, 5/19/13.
POTUS was fired up at the UAW today.
POTUS is making gifsets now. Dang.
POTUS understands tumblr.
This is why I love my President. He understands me and my us for Tumblr as news.
I didn’t even realize his team was the ones who created this. Oh, he has the most awesome people working with/for him.
President Obama at the 2011 White House Correspondents Dinner. (x)
When I saw this, I just about died laughing.
I ADORE MY PRESIDENT.
This will never not be funny.
In the immortal words of my nearest roommate yet: I love Obama.