Tuesday, October 11, 2011

Obama's Economic Policies - #3317 - The Chart That Shows Just How Wrong Obama's Stimulus Projections Were - The Blaze (2) Census: Housing Bust Worst Since Great Depression - AP (3) Feds to Design Health Insurance for the Masses - AP

Many people ask: What could the government have done better to cushion the blow from the recession? Of course a sizable group would say that the government should have done nothing in the first place, but that is a different article for a different day. One side of the political aisle argues that pouring billions of dollars into various stimulus schemes was an appropriate response. The other side argues that it was a fruitless waste of taxpayer money. However, both sides seem to unanimously agree that it’s not so much that the Obama administration dealt poorly with the recession, it’s that they didn’t understand what they were dealing with at all. The Washington Post has been carrying an interesting story by Ezra Klein that drives this point home. In his article, Klein provides a graph from the president’s Council of Economic Advisers that sought to predict the impact ARRA would have on jobs. There are three elements included in the graph:  (1) The incoming Obama Administration’s projections for what the unemployment rate would be if no stimulus were enacted in the depths of the financial crisis. (2) The Obama Administration‘s projections for what the unemployment rate would be with the President’s stimulus plan. (3) The actual unemployment rate.  Read more........

Census: Housing Bust Worst Since Great Depression - Associated Press - The American dream of homeownership has felt its biggest drop since the Great Depression, according to new 2010 census figures released Thursday.  The analysis by the Census Bureau found the homeownership rate fell to 65.1 percent last year. While that level remains the second highest decennial rate, analysts say the U.S. may never return to its mid-decade housing boom peak in which nearly 70 percent of occupied. households were owned by their residents.  The reason: a longer-term economic reality of tighter credit, prolonged job losses and reduced government involvement.  Unemployed young adults are least likely to own, delaying first-time home purchases to live with Mom and Dad. Middle-aged adults 35-64, mostly homeowners who were hit with mortgage foreclosures or bankruptcy after the housing bust in 2006, are at their lowest levels of ownership in decades.  Read more....... 

Feds to Design Health Insurance for the Masses - Associated Press - The federal government is taking on a crucial new role in the nation's health care, designing a basic benefits package for millions of privately insured Americans. A framework for the Obama administration was released Friday. The report by independent experts from the Institute of Medicine lays out guidelines for deciding what to include in the new "essential benefits package," and how to keep it affordable for small businesses and taxpayers, as well as scientifically up to date. The advisers recommended that the package be built on mid-tier health plans currently offered by small employers, expanded to include certain services such as mental health, and squeezed into a budget. They did not spell out a list of services to cover, but they did say that treatments should be cost-effective.  Read more........

No comments:

Post a Comment