"As of the end of September, the [FDIC ]  fund was $8.2 billion in the hole"

quote from article at:http://money.cnn.com/2009/12/11/news/economy/bank_failure/

Friday, December 11, 2009

And this article about requiring insurance companies to compete [no monopolies] by repealing the McCarran-Ferguson Act  :

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/11/AR2009121103516.html

Quote from article about the discussion on the proposed health care bill in the U S Senate:

"Richard S. Foster, the chief actuary of the federal Centers for Medicare and Medicaid Services, said Friday that under Mr. Reid’s bill national health spending from 2010 to 2019 would total $35.5 trillion. That is $234 billion, or 0.7 percent, more than the amount projected under current law, he added." And the same Mr Foster said that the paln to add fees to insurers and pharmaceutical company to make them pay for the added coverage of millions would have this effect and I quote that article: "Mr. Foster said the fees would increase national health spending by $11 billion a year because the fees “would generally be passed through to consumers in the form of higher drug and device prices and higher insurance premiums.”

  Republican Senators John McCain and also Democratic Senator Richard Durbin said they do not know the details of the plan! That should scare you a whole lot! Voting on a secretive bill is very dangerous for any nation.

 Read the article at:

http://www.nytimes.com/2009/12/12/health/policy/12health.html?hpw/

Saturday, December 12, 2009

And from another article in the NY Times today this quote about the Senate plan:

"Republicans denounced the proposal, saying it would add new financial obligations to a program that could not afford its existing commitments."

I am adding these snippets here from news articles last evening and this morning. When you consider these collectively it is hard not to be very pessimistic about the nation. The U S government agency [Federal Deposit Insurance =FDIC] is in the red meaning they have no money to guarantee any losses of banks.