I just attended a healthcare symposium at the American Enterprise Institute where Prof. Stephen Parente of the University of Minnesota revealed the results of a complex healthcare cost simulation model. What did the number crunching show? The Democratic healthcare plan under consideration by the Senate Finance Committee would cost $300 billion a year if it wanted to reduce the number of uninsured Americans by three quarters. (Hello VAT!) And just to show how hard it is to do healthcare reform within current parameters of public policy, a conservative Republican alternative plan would cost $150 billion a year, though it would achieve the same results. Or America could try this approach.
Robert Gibbs, the White House press secretary, was asked by CNS News where the U.S. government’s authority to take a 60 percent stake in General Motors came from. His answer: “Well, I think the money is based on the Troubled Asset Relief [Program], and is related to money that was approved in the prior administration through that program to deal with, as they had in the past administration, they were dealing with loans to cover–basically to bridge the operating costs.”
In the WSJ today, Karl Rove notices that the unemployment rate may still be really, really high on Election Day 2010: “The difficulty for Mr. Obama will be when the public sees where his decisions lead — higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.”
OK, so it looks like Rising Asia is trying to get on the same currency page. Now lots of people think rumblings of the region dumping the dollar are empty threats. Where are they going to go, right? The euro? Please. David Goldman of the fantastic Inner Workings blog thinks he has it figured out bold is mine):
I had the pleasure this morning of attending a small breakfast gathering with South Carolina Gov. Mark Sanford, a potential contender for the 2012 Republican presidential nomination. Sanford talked a lot about his legal fight to reject stimulus money from the federal government. Well, not so much about the legal details, but more the philosophy behind his stand. He says he is extremely concerned that the government’s debt problems are approaching a “tipping point” that will lead to higher inflation and a weaker dollar — all characteristics of “banana republic economies.” Sanford also said that Obama’s stiff-arming of GM creditors is an assault against private property rights and the rule of law, creating uncertainty in America’s business community about ” what the rules are” and potentially freezing business invesment here. ( He added that a meeting with folks on Wall Street confirmed his suspicions on this matter.)