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Congress Passes Job-Killing Healthcare Bill, Driving a Stake into an Economic Recovery

By: Curtis Ophoven

3/22/2010 - 23 Comments

This bill is a tax bill wrapped up in a healthcare document. For small businesses, this bill is a killer.

It will raise insurance costs for everyone, increase taxes and the cost of doing business on the very people that we depend on to create jobs – small businesses. 

If you are unemployed, expect to stay unemployed.  If you are employed, expect lower wages and higher insurance premiums and perhaps a layoff notice.

This vote was a vote against small business and clearly shows that the current political leadership is not interested in an economic recovery.  They are not even interested moving the nation away from its path of hyperinflation and complete economic meltdown that we are on. 

This day will be remembered in history as the day that led our nation over the cliff of economic meltdown.

This bill will take control of one-sixth of our economy will stop economic growth in its tracks.

A Tremendous Response

The audacity of our political leaders to pass this bill in the face of the deepest recession since the Great Depression shows that we need a tremendous response to reverse course and save the nation. 

From the initial sentiment that I’ve read on the blogosphere today, it looks like the public is very up set to the tragedy that our current leaders are creating.  

The response is going to be big as public anger will continue to swell. 

Nothing about this bill is good for the economy.  It is the largest entitlement program in the history of the world.  This is no longer the land of the free, but the land of socialism – a system that has proven to only result is one outcome – economic collapse.

Obama’s healthcare will be a colossal failure, causing prices to increase even faster.

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Reader Comments

Comment 1
Fear Sells Says: on Monday, March 22, 2010 6:58:34 PM

Awww, the dreaded fear of Socialism. That's what they said when both Social Security & Medicare were first passed & signed into law though you young whipper snapping blogger do not remember it.

Comment 2
This Smells Says: on Monday, March 22, 2010 8:19:19 PM

Is PennyJobs a shill for the Republican Establishment?

http://www.nytimes.com/2010/03/22/opinion/22krugman.html?ref=opinion
"And let’s be clear: the campaign of fear hasn’t been carried out by a radical fringe, unconnected to the Republican establishment. On the contrary, that establishment has been involved and approving all the way. Politicians like Sarah Palin — who was, let us remember, the G.O.P.’s vice-presidential candidate — eagerly spread the death panel lie, and supposedly reasonable, moderate politicians like Senator Chuck Grassley refused to say that it was untrue. On the eve of the big vote, Republican members of Congress warned that “freedom dies a little bit today” and accused Democrats of “totalitarian tactics,” which I believe means the process known as “voting.”

Without question, the campaign of fear was effective: health reform went from being highly popular to wide disapproval, although the numbers have been improving lately. But the question was, would it actually be enough to block reform?

And the answer is no. The Democrats have done it. The House has passed the Senate version of health reform, and an improved version will be achieved through reconciliation."



Comment 3
Adam Says: on Tuesday, March 23, 2010 6:45:32 AM

This is indeed a sad time for our country. The government doesn't care how the people feel. Otherwise this wouldn't have happened because the people would have had a chance to vote on it and it would have been rejected.

Comment 4
Steve Says: on Wednesday, March 24, 2010 7:24:08 PM

Small biz killer, you mean Empire killer!!!

Health Care Law Signals US Empire Decline?
Published: Wednesday, 24 Mar 2010 | 5:44 AM ET Text Size By: Antonia Oprita Web Producer, CNBC.com

"The passage of the health care law shows that the US empire is declining because it illustrates the fact that people expect the state to take care of them, David Murrin, the co-founder of Emergent Asset Management hedge fund manager, told CNBC.

On Tuesday, US President Barack Obama signed into law health care legislation that expands health coverage for the poor, imposes new taxes on the rich and forbids insurance practices such as refusing coverage to those with pre-existing conditions.

In their expansionary phase, empires force people to go out, seek risks and fend for themselves, Murrin said, reminding of the dismantling of the British empire after the war, when the National Health Service, which ensures universal health coverage in Britain, was created.

"This (empire decline) is actually a dead-set course that societies get into and it will happen very quickly I'm afraid," he told "Squawk Box Europe."

"As you start to build a system it becomes cohesive because of its success… the fractures in the American system I think are more apparent than ever," Murrin added.

China's rise will be much faster than most people anticipate as the country's military prowess increases, he said.

"We all know there's going to be a change, the surprise will be the pace of that change," Murrin said, noting that "all empires when they decline they underestimate their challengers."

The peak for commodities will be reached somewhere between 2020 and 2025 and it's the period before that that must be watched, as China seems much more willing to take risks than Western countries, he predicted.

"You have a lot more males in China then you do in the west," he said, noting that 56 percent of the Chinese society was male, because of the country's policies to control population and because of traditions which value males more than females.

"What that means is that they're far more risk-oriented than a society in the West…if you look at conflict and your ability to risk your males in conflict," Murrin explained.

China has started to innovate and has worked out what the West's weaknesses are so it can overtake developed countries, he added.

The country is investing heavily in Africa, which Murrin calls a "huge opportunity" because it has the best demographics in the world and a big resource pool.

"I think Africa, as a generic theme, is the hottest thing in town," he said."


Comment 5
Sally Says: on Wednesday, March 24, 2010 7:42:35 PM

Health Care and Detroit: Killed By Government
by Gary North


http://www.lewrockwell.com/north/north828.html
I know what is going to happen.

1. Cost overruns
2. Fraud
3. Additional coverage extended to groups
4. Rising deficits in the program
5. Lower payments to physicians
6. Lower payments to hospitals
7. Delays in payments
8. Rising taxes on the rich
9. Rationing by doctors, hospitals, government
10. Delays in treatment
11. More HMO care: assembly line medicine
12. A search for scapegoats

Obamacare will lead to an expansion of these forms of medicine:

1. Concierge
2. Wal-Mart
3. ER
4. HMO
5. Mexican


Comment 6
Steve Says: on Saturday, March 27, 2010 4:16:33 PM

How the Healthcare bill is financed:

http://www.taxfoundation.org/publications/show/26066.html


Comment 7
Mo Says: on Sunday, March 28, 2010 5:49:57 PM

http://www.nytimes.com/2010/03/28/opinion/28rich.html
"When Social Security was passed by Congress in 1935 and Medicare in 1965, there was indeed heated opposition. As Dana Milbank wrote in The Washington Post, Alf Landon built his catastrophic 1936 presidential campaign on a call for repealing Social Security. (Democrats can only pray that the G.O.P. will “go for it” again in 2010, as Obama goaded them on Thursday, and keep demanding repeal of a bill that by September will shower benefits on the elderly and children alike.) When L.B.J. scored his Medicare coup, there were the inevitable cries of “socialism” along with ultimately empty rumblings of a boycott from the American Medical Association."


 
Comment 23
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