Friday, April 02, 2010
I just do not understand why Congress passed health care reform with all of the impediments we have to economic recovery. How is this “recovery” going to take hold? There are ballooning government deficits, new all-time records for foreclosures, fresh batch of insolvent banks that are taken over by the FDIC, hundreds of trillions of dollars in unregulated derivatives (like the ones wrecking the Greek economy) and dozens of U.S. states in dire financial trouble—to name a few! All this is just some of the backdrop for which Congress passed health care reform. These problems, and many more, make talking up a recovery look like “Baghdad Bob” is writing the wire copy.