Day: November 21, 2009

The Senate Health Care Debate Begins!

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With the courageous decision of Louisiana Senator Mary Landrieu and Arkansas Senator Blanche Lincoln to support the beginning of debate on health care, the Democrats have succeeded in keeping their party caucus united, including independents Joe Lieberman and Bernie Sanders.

Now a long period of weeks of debate begins, and there are many torturous steps to go before a final vote, including the debate over abortion and over the “public option”. Votes in the Democratic caucus will be lost on these issues, including Joe Lieberman, Ben Nelson, Landrieu and Lincoln among others.

So the question is whether it will be possible to pass a substantial health care bill without causing a filibuster. Since that seems unlikely, the concept of “reconciliation”, requiring only 51 votes to pass legislation, may have to be put into play.

While it would be preferable to avoid “reconciliation”, the likelihood is that it will have to be utilized in order to bring about the most significant legislation since 1965 when Medicare passed into law.

Economists’ Consensus: Obama Was Correct on Stimulus Saving Economy

Ronald 1 Comment

Despite the criticism from liberal and conservative economists, a consensus has developed in the community of economists at large that the stimulus plan enacted earlier this year saved the economy from falling off the cliff to a total depression.

It is hard to be thrilled when the unemployment rate is over ten percent, and only approximately two thirds of a million jobs have been saved or created. But a broad based group of economists make it clear that the alternative of many conservatives to do nothing would have been far worse.

Many new jobs are slated to be created by the end of 2010, and many jobs will be saved as well, as has been the case with the aid to the states this year which kept many teachers, police officers, firefighters and other important public service workers at work.

Additionally, the third quarter GDP growth of 3.5% is a sign that the economic program of the administration is on its way to success, but of course there is great impatience among the American people. So the answer is to recognize the need for patience in difficult times, and to also enact a massive jobs program to create new jobs with some of the money from the original rescue of the financial and auto industries, which has not yet been spent!