Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
August 2, 2013 at 10:56 AM
Vote: How will Obamacare work out?
The Seattle Times’ Carol M. Ostrom has a story today about what the Affordable Care Act will cost for Washingtonians. Yes, Obamacare is on the way, despite the Republican-controlled House of Representatives voting 40 times to repeal it. Paul Krugman has written that the program is “the right’s worst nightmare” because it will work. Over at National Review, Veronique de Rugy predicts that premiums will skyrocket — even though members of Congress and federal employees will be sheltered. Norm Ornstein, a distinguished man of the right, has denounced the “unprecedented — and contemptible — attempts to sabotage Obamacare.”
I’ve never been a fan. Obamacare is a massive profit-machine for the private insurance industry; that was the price of support to get it through, and cover pre-existing conditions. The president never considered a public option, much less Medicare for all. Whether it will be a job killer, or have unintended bad consequences remains to be seen. Here’s a factual look at where things stand now. The status quo is unsustainable. Little vouchers to shop for health care are a joke. So what happens next?
Read on for some of the most interesting business and economy stories of the week, plus the haiku…
This Week’s Links:
• Good news and less good news on the jobs report | Jared Bernstein
• The disturbing composition of the new jobs being created | Dean Baker
• The age equation in employment numbers | NYT Economix
• Five faces of this week’s fast-food strikes | Huffington Post
• Here’s the truth about Oregon’s ‘right to work’ initiative | The Oregonian
• What Janet Yellen did and didn’t get wrong about the housing bubble | The Atlantic
• How the execs who brought down Bear Stearns bounced back | Mother Jones
• Sale of AIG’s aircraft leasing unit remains grounded | BusinessWeek
Today’s Econ Haiku:
Janet or Larry?
I could have been more fed up
It might have been Tim