On Tuesday, I went to a doctor visit with my Dad. He had a heart attack several years ago and is seen regularly by a cardiologist to stay on top of things. Before being seen by his doctor, we spent some time in the waiting room. Instead of reading a magazine or newspaper, I did a little people watching. All around me sat older individuals. Most of them were well into their sixties and seventies and, I presume, part of the current universal healthcare system we currently have.....Medicare. Then I got to thinking, what if these people lived in Canada or England? Would they even be in the position of eligibility to receive the kind of treatment and care they are receiving now in this country?
For example, in England, there is a health board that decides if you are worthy of the treatment you seek. They consider your age and disease verses your presumed life expectancy and cost of treatment to determine if you're worth the expense. If you are too old and the treatment is deemed to costly......you are SOL.....simply out of luck! Then where do you go and what do you do? If the government controls all the healthcare, there are no other choices....no other options. Even if your course of treatment is approved, how long do you have to wait for it? Ask the citizens in Canada that have crossed our borders for heart surgery. Many claim that would have died on the waiting list and chose to come to the United States and pay out of pocket for care.
Let's not forget the cost of research and development. This is a big one to consider. New medical breakthroughs take money and LOTS of it. Is the government ready to take on that expense too? Since I've just visited a cardiologist this week with my Dad, let's talk about bypass surgery for example. When the medical community first started performing bypass surgery, it was a very risky procedure and very costly because it was experimental. Many times the surgery resulted in death. But, as the years went by, the surgeons got better and better at it and improved upon the procedure. Fast forward decades later to present day and bypass surgery is almost done like an outpatient procedure. The patient is out of the hospital in days time with significantly less cost and risk than earlier years....but it has taken time and money to get to this point. What will happen with drug research? New breakthrough procedures? Cancer treatments? Talk to anyone in the medical or drug field and they can enlighten you on the costs associated with research, development, and clinical trials. For every win, there are dozens of failures left on the killing floor.....and even the failures cost money.
Who recommended the government for this job anyway? They have already butchered Medicare and Social Security to the point where it's going to implode. Do we really think we can trust them to be the Big Cheese on Healthcare? We teabaggers will have to fight this one tooth and nail because if they can pull this off and pass the legislature....GOD HELP US ALL.
Friday, June 19, 2009
Tuesday, June 2, 2009
Paper or Plastic?
You hear the statistics every day. And they're NOT encouraging. The majority of Americans are swimming in credit card debt. The most consistent figure I've heard is that the average household carries $10,000 - $12,000 in credit card debit. What has happened to us? Credit has become too cheap and way too easy. Millions of Americans, once again, have bit off more than they can chew, just as they have done with real estate, and we are all going to end up paying for it.
President Obama signed the most sweeping credit card reform bill in the Country's history on May 22, 2009. The bill's intent is to rein in the penalties and fees banks can charge, prohibit raising of rates on previous balances, establish minimum time periods for "teaser rates", impose age limits, and etc. It's a long laundry list of reforms that is intended on preventing the middle class from being ripped off. And, yes, it all may look good on the surface but that gold plated finish doesn't look so pretty after you scratch the surface.
Once this bill takes effect, nine months from now, what do you really think is going to happen? Or, better yet, who do you think is really going pay for all the lost revenue the credit card companies are going to have to suck up? Not a hard one to answer if you are one of the few that have been responsible with your use of credit cards. Please step to the head of the class! Say "Bye-Bye" to reward programs, cash back, frequent flyer miles, 30 days grace periods, and no annual fee cards. The credit card companies will seek to make up lost cash by putting the screws to you. In a year from now, will it be worth having a credit card? Once again, you will be answering the age old question of "Paper or Plastic?".
Like you, I'm assuming, I've been notified about changes concerning my credit cards. I actually took the time to call one of the companies about the informed changes because I'm a very responsible customer. Frankly, I was angry about this particular card changing my interest rate because I consider myself a good credit risk and it's really the only one we ever use. The customer service agent on the other end of the line reassured me the changes wouldn't be forever (Right!!), things would get "back to normal" after we get through this economic downturn, and she was willing to allow me to keep my locked in low rate for 10 more months.....because I threatened to drop them after a 12 year relationship!
People need to wake up and make some changes in habit. We are doing this to ourselves. There are choices to be made and life is all about making choices. We see if over and over again. A select few are being tapped on the shoulder and receiving a bailout. And you have to ask.....is this really going to help? My hunch is that those who are already up to their necks in debt are going to end up defaulting with or without the government putting their spoon in the soup. Which leads you back to the Forgotten Man who will end up paying the greatest price when it's all said and done.
As for me, I view credit cards as a convience not a necessity. If things change drastically enough, due to government regulations or otherwise, I will no longer be a "card" carrying member of society. Paper, please!
President Obama signed the most sweeping credit card reform bill in the Country's history on May 22, 2009. The bill's intent is to rein in the penalties and fees banks can charge, prohibit raising of rates on previous balances, establish minimum time periods for "teaser rates", impose age limits, and etc. It's a long laundry list of reforms that is intended on preventing the middle class from being ripped off. And, yes, it all may look good on the surface but that gold plated finish doesn't look so pretty after you scratch the surface.
Once this bill takes effect, nine months from now, what do you really think is going to happen? Or, better yet, who do you think is really going pay for all the lost revenue the credit card companies are going to have to suck up? Not a hard one to answer if you are one of the few that have been responsible with your use of credit cards. Please step to the head of the class! Say "Bye-Bye" to reward programs, cash back, frequent flyer miles, 30 days grace periods, and no annual fee cards. The credit card companies will seek to make up lost cash by putting the screws to you. In a year from now, will it be worth having a credit card? Once again, you will be answering the age old question of "Paper or Plastic?".
Like you, I'm assuming, I've been notified about changes concerning my credit cards. I actually took the time to call one of the companies about the informed changes because I'm a very responsible customer. Frankly, I was angry about this particular card changing my interest rate because I consider myself a good credit risk and it's really the only one we ever use. The customer service agent on the other end of the line reassured me the changes wouldn't be forever (Right!!), things would get "back to normal" after we get through this economic downturn, and she was willing to allow me to keep my locked in low rate for 10 more months.....because I threatened to drop them after a 12 year relationship!
People need to wake up and make some changes in habit. We are doing this to ourselves. There are choices to be made and life is all about making choices. We see if over and over again. A select few are being tapped on the shoulder and receiving a bailout. And you have to ask.....is this really going to help? My hunch is that those who are already up to their necks in debt are going to end up defaulting with or without the government putting their spoon in the soup. Which leads you back to the Forgotten Man who will end up paying the greatest price when it's all said and done.
As for me, I view credit cards as a convience not a necessity. If things change drastically enough, due to government regulations or otherwise, I will no longer be a "card" carrying member of society. Paper, please!
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