All those loans started three years ago to help stimulate the economy under Shrub come due this year, and there are lots of questions about whether they can be paid back or not, potentially sticking people with trillions of dollars in debt.
There was already speculation that Medicare was going to collapse by 2020.
And now, a nearly $1 tril addition to all that has been passed in the form of health care reform that perpetuates insurance companies instead of getting them in line passed 219-212. You know, the ones who got nailed in the junk bond scheme and have been teetering. Nice to have friends in Washington. Remember, this doesn't extend health care to anyone, if makes it illegal not to have it. That's not extending benefits, that's forcing people to participate in a market.
Interestingly, this is going to be signed. I'm no longer hearing about the "plan" to merge a second hastily passed bill that will "fix" this one. They got what they wanted, a new protected market for their contributors, and that's all that matters.
Although, one thought does make me smile -- hey, Rush Limbaugh! Done packing yet?!?
Several states will be subsidizing for other states. Illinois, which is already facing a huge financial crisis with talk of increasing taxes to go along with just about every fee shooting instead of curbing wasteful spending, is getting stuck paying for Nevada because the poor dears there have such a rough economy. The same Nevada Obama has villified in speeches as the home of wasteful spending (and actually caused their tourism business to take a dive).
My suspicions about the R's using this to gain a supermajority got their first boost as the news started talking about how all the carping could blow up in their faces, as most Americans won't see any changes, good or bad, for years. The media which helped get Obama elected is saying it could be risky for the D's but gave certain pronouncements to the R's. The spin machine is on, trying to nullify the angry electorate. The R's are going to take advantage of voter rage. This election will be no different than any other, with the voters as just an angry force of nature instead of making informed choices. I get so sick of people who don't care they are being used.
The only angle left here is another rebellion, a real wild card that I can't predict. Several states are complaining that this is now a states' rights issue, that they should not have to pay and participate in this. They are talking about taking the bill to court. Could it shoot it down? Maybe. States rights vs. the fed is a real quagmire, so God only knows what the results will be. And this assumes no one takes the bill to court for being unduly burdensome to begin with.
It's days like today that make me happy I'm nearer the end of my life than the beginning.