I believe I actually read somewhere that the healthcare reform bill is going to cost $3 Trillion, and for the life of me, I cannot remember where I saw that; maybe Cato – I’ll have to track it down again.
Anywhoooooo; a question for Harry Reid; is healthcare going to cost $829 Billion, $2 Trillion, or completely bankrupt our economy as we are currently now at $105 TRILLION in unfunded liabilities without healthcare reform?
He talked about CBO saying that there would be $54 billion saved each year if we put caps on medical malpractice and put some restrictions…tort reform…$54 billion. Sounds like a lot of money, doesn’t it, Mr. President? The answer is yes. But remember, were talking about $2 trillion, $54 billion compared to $2 trillion. You can do the math. We can all do the math. Its a very small percent.
Dec. 12 (Bloomberg) — The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.
Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.
The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.
“If they told us what they held, we would know the potential losses that the government may take and that’s what they don’t want us to know,” said Carlos Mendez, a senior managing director at New York-based ICP Capital LLC, which oversees $22 billion in assets.
This is reminding me of Paulson going to the White House with 3 pages about the the Bailout Bill, and IMHO, it probably was scrawled in crayon considering these people HAVE NO IDEA how to fix this problem.