Alex Blaze

Obama admin found funding for health care

Filed By Alex Blaze | February 26, 2009 2:00 PM | comments

Filed in: Living
Tags: Barack Obama, Congress, Evan Bayh, funding, health care reform, Medicaid, Medicare, White House

The White House will release details today for their 10-year budget outline, but to be included will be a $634-billion fund for health care reform. The money will come from cap-and-trade on carbon emissions, rolling back on Bush's tax cuts for the wealthy, decreasing the tax benefit of itemizing deductions for the top marginal tax bracket (i.e., rich people), and Medicare reorganizing.

Not too shabby. Expect to see the fiscal conservatives and the Republicans out in full force on this one, because Obama's asking for a little over $63 billion a year for uninsured people, which is so much compared to the amount that's been given to banks over the past few months... or the amount that's been dumped into that war in Iraq. But fiscal conservatives have a way of not noticing military spending but exploding over money directed towards poor people.

Paul Krugman says it's not enough money but it's close, and if team Obama stays committed to universality, affordability, and quality care, this could be a great health care plan. And if it's actually moving in the right direction, there's no problem with an incremental approach.

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Robert Ganshorn Robert Ganshorn | February 27, 2009 2:02 AM

Incremental gains are how most things are done. What I have told the ignorant uncaring who pan universal health care is that the next disease pandemic does not care how much money you have in your bank account.

Expect to see the fiscal conservatives and the Republicans out in full force on this one

I dunno. The Republican folly seems to be opposing unemployment benefits to American workers currently - even though McCain's financial adviser has publicly said that for every $1 spent, we reap $1.61 in economic benefit because the unemployed will spend the money instead of saving it for a rainy day. Unemployment benefits for southern states hit hard by job loss is what they're coming out "in full force" over currently. Let's see if they change focus...

I doubt it. The verdict's in for the conservative media, and they don't like the budget at all.