Posts Tagged Legislation
Health Care Reform
Jul 30
Well Congress has recessed without passing any health care legislation. This is probably a good thing, lets do it right and not rush. The Senate did remove the public option from their plan, which means that it’ll be up to the private sector to provide insurance.
The health care industry is afraid that if a public option was available it would drive costs down. Isn’t that what we are trying to do? A public option plan would have the power to get discounts on medication, that’s what the Veteran’s Administration and Medicare do. They are public options.
Then we have Senators like Orrin Hatch who argue that industries do not give money because they are trying to influence candidates, they give it because “they agree with the principles espoused by the candidate. I don’t believe they are trying to influence the candidate’s decisions.”
I agree, but the candidates often seem to base their principles on the views of donors. Which came first, the principles or the cash?
An age old question.
Obama is keeping busy
Jun 18
In the last two weeks President Obama has tackled consumer protection, benefits for same sex couples who are federal employees, a national health plan and restoring VA health care to all veterans who earn less than the average income for their area.
In 2003 benefits for these veterans were removed, I am relieved that they have been restored.
Credit Card Regulation
May 11
Obama is urging Congress to pass legislation regulating the Credit Card industry before Memorial Day. They have passed legislation that bars the Credit Card companies from raising interest rates on existing balances, but that doe not take effect till July 2010. Of course that gives them time to raise rates well before then, which is what they are doing.
The card companies argue that the regulations will make it harder for consumers to get credit, thus hurting the economic rebound.
When the credit companies raise the interest rate, reduce the available credit and charge outrageous fees, it makes not only harder, but also more expensive to get credit. They are doing this for people who have no late payments and pay off the balance each month.
The amount of credit available to you plays an important part, approximately 30%, in determining your Credit Score. The less available credit, the lower the score. The lower the score the higher the interest you pay to borrow.
Pass legislation now. We should be telling credit companies what they can do, not what they can’t do.