Mandatory insurance--legislatively enacting a permanent jobless recession/recovery

[eridani]

That is because huge amounts of everyone's otherwise discretionary income will be diverted from buying real products to subsidize a totally unproductive part of the economy. The sociopaths who are really running the country don't even bother talking in terms of recession/recovery anymore. They are talking about a "reset." The language they like to use to refer to the future is "the new normal," which means far fewer jobs in general, more productivity for lower wages, greatly reduced consumer spending over the long term (because they don't intend to hire people if they can help it), increasing business in the BRIC (Brazil, Russia, India, China), and in general looking to accelerate the cheap labor race to the bottom. http://www.businessweek.com/globalbiz/content/may2009/gb20090513_256354.htm

What I will be required to pay will wipe out most of my discretionary income, and there are millions in the same situation. I know because I've used the Kaiser Family Foundation to calculate $450/month that still leaves me with 30% of medical expenses to pay. And that's the House version, not the much shittier Senate version.

We are talking 8-12% of income for premiums alone, not even counting co-pays and deductibles. This is an unmitigated disaster for an economy consisting of 70% consumer spending. The subsidies reducing the cost for those lower on the income scale will come from money that could have gone to the productive economy of rebuilding our infrastructure or creating new green collar jobs. And that is assuming that the subsidies don't get cut--conservadems propose that they will if national deficit targets are not met.

Congress and the president seem almost to be from another planet when they talk about "affordable choices." To them it seems to mean that if income minus food minus rent/mortage/utilities minus transportation minus health insurance costs equals a number slightly greater than zero--VIOLA! Affordability! I'm not going to be homeless or starve, and may even be able to pay medical bills. I just won't be buying much else.

What this means for the economy at large is that more of the businesses dealing in non-essentials like bookstores, restaurants, etc. that I patronize are more likely to close. I have had to become more frugal during retirement, and that means we eat out once or twice a month, as opposed to once or twice a week when I was working. I'm letting magazine subscriptions run out and buying fewer books. Political donations have been cut in half. Already two restaurants where we used to eat have gone down. Elliott Bay Books will be moving from Pioneer Square, and is in serious financial trouble. This is a store that was founded during a major recession in 1973.

Wnen I start getting nailed for $450/month, plus the $60 for DH's Medicare Part B, a lot of things are going to end. Buying any books or magazines at all. Eating out. No online clothing shopping, just St. Vinnies and the like. Get rid of the CREDO cell phone. I might be able to spare $5 a year for DU, but no political contributions. No donations to Dem party organizations or candidates other than my volunteer time, not out of spite against Blue Dogs, but just because the money won't be there. Since DH is handy at electronics and programming, we'll probably stay connected to cyberspace, but if something craps out it will get repaired with stuff on hand or other people's cast-offs or we do without.

Multiply this by a few tens of millions for a picture of the "new normal" after insurance "reform." Still enthusiastic?

[Auggie]

1. Tell me about it. Anthem/Blue Cross is raising our premiums 60%.

[sandnsea]

2. So you earn $43,000 a year?

And object to paying around 10% of your income in health premiums? How much do you think your tax burden would be with single payer or Medicare for 55?

[eridani]

4. Single payer is $125/month according to current proposals n/t

[Unvanguard]

3. Health care is not a "totally unproductive part of the economy."

Quite the opposite, in fact. And for many people it's not "discretionary" right now.

Either we let lots of people die, or we pay for people's medical care. Someone's going to pay for it. Right now that person is all too often the person who happens to get sick--which means a serious family financial crisis at best, and medical disaster at worst. With the mandate provision and the subsidies, the risk and the cost is spread out better. It costs a lot, yes, but that's because health care is expensive: it's not the fault of the Democrats.

[eridani]

5. Bullshit. Health care is expensive because we are the only country refusing to control costs

I refuse to be a slave to useless parasitic shitstains that are responsible for 30% overhead which gets us nothing.

[tinrobot]

8. It's not about controlling cost, it's about controlling profit.

It's cheaper in other countries because they don't let companies profit off of sick people.

[eridani]

9. True, but countries that provide unirversal care through private insurance

--dictate what the basic benefit package must be and what it must cost. Many also directly control provider and pharmaceutical costs.

[rollingrock]

10. I think the OP is saying health insurance

is an unproductive part of the economy, not healthcare.

[leftstreet]

6. If politicians depended on our $$, minimum wage would be $40 an hr

They don't care that they're helping to expand poverty in the US, the rich Ruling Class will still pay their 'salaries.'

K&R

[amborin]

7. someone wrote a good essay saying it's to wipe out the middle class for good; and therewith their

voting capacity

[Waiting For Everyman]

11. Exactly right. Isn't this a great recovery strategy?

What's left of this economy is being extorted to pay nothing but interest and premiums to the banks and the insurance companies (for the already-rich CEOs' guilded lifestyles)... neither of which is productive of anything, or necessary.

Brilliant! That should put a whole ton of people back to work, doncha think? NOT!

And last year's Biggest Theft Of All Time rolls on unabated... pumping up the next bubble to go BANG!