Political Discussion about Healthcare Reform Law

[finehoe]

To date, $1.05 trillion dollars have been allocated to the wars in Iraq and Afghanistan.

[JeffreyS]

And could we please stop acting like we don't spend much of that money already paying for people without healthcare when they access the system.

[NotNow]

How much DOES the Federal government currently spend on paying for people without healthcare when they access the system? 

Let me help.  This is for 2004, but you'll see the ballpark:

http://www.kff.org/uninsured/upload/The-Cost-of-Care-for-the-Uninsured-What-Do-We-Spend-Who-Pays-and-What-Would-Full-Coverage-Add-to-Medical-Spending.pdf

Also, many states are complaining because of the additional unfunded mandates being placed on them.  Florida, just like many other states, is in no position to increase funding.  That reduced Medicare funding has to come from somewhere.

[JeffreyS]

Thanks NotNow it looked like bottom line 172 billion ave 1998-2000?

[NotNow]

well since all human beings are "created equal", that seems fair.

Well, except for Congress and the President, they are exempt from this bill.

[NotNow]

Yes, that sounds about right.  One of the big questions is how much of an unfunded mandate does this become for the States?

[JeffreyS]

I must not be looking at this correctly. According to the link provided by NotNow we have been spending somewhere between $150-200 billion a year. If that is correct 1 trillion for ten years seems pretty damn good.

[St. Auggie]

If you really think this is going to cost JUST 1 trillion, then you have never followed the government a day in your life.  They are going to TRY and pay for this with taxes.  Payroll taxes are going to go up as a result of this do you know who will pay for that? Yep, you.  Say a prayer to whatever higher power you believe in that this ONLY costs 1 trillion.  Aint gonna happen.

[finehoe]

The notion that we have no money is absurd because that hasn’t stopped Wall Street from getting $13 trillion in bailout funds.  We may not have the money but somehow we were able to funnel that much their way while the middle class is feeling the pinch from every angle.

[Doctor_K]

13 trillion?
I thought it was $787 billion?
Which the democrats also supported, btw.

[JeffreyS]

If you really think this is going to cost JUST 1 trillion, then you have never followed the government a day in your life.  They are going to TRY and pay for this with taxes.  Payroll taxes are going to go up as a result of this do you know who will pay for that? Yep, you.  Say a prayer to whatever higher power you believe in that this ONLY costs 1 trillion.  Aint gonna happen.

Even though I am a fan of health insurance reform and even single payer I suspect you are correct in this post.

[JaxNative68]

think of what we have already spent in Iraq over the last decade . . . could have already paid for this reform

[finehoe]

13 trillion?
I thought it was $787 billion?
Which the democrats also supported, btw.

$787 billion was just for the TARP. The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion:   http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4

[Doctor_K]

That's year-old data.

$12.8 trillion was pledged, and as of last March.  My question is how much has actually been used? 

[finehoe]

The "good" news is that of that $12.8 trillion, only a third -- or $4.2 trillion -- has actually been committed to a total of 34 distinct programs. The remaining $8.6 trillion is the limit of how much has been approved. And of that $12.8 trillion, 61% is under the control of the Fed in 20 programs, 16% is in the hands of the FDIC in 5 programs, another 21% will be spent by the Treasury in eight programs and the remaining two percent is being doled out by the Department of Housing and Urban Development (HUD) in one program.

And who are the corporate beneficiaries of all your largess? That would be six of the biggest U.S.-based financial institutions in the world. Here's how much of your money is committed to them:

Fannie Mae/Freddie Mac: $400 billion
Citigroup (NYSE: C): $230.4 billion
General Electric (NYSE: GE): $126 billion
American International Group (NYSE: AIG): $112.5 billion
Bank of America (NYSE: BAC): $89.7 billion