Ben Bernanke, The Fed Chairman held a news conference for the first in it’s history. Be Afraid Be very Afraid.
If the Fed is resorting to explaining itself in a press conference, you know we are in the doo-doo big time.
“The markdown of growth in 2011, in particular, reflects the somewhat slower than anticipated pace of growth in the first quarter,” Bernanke said in prepared remarks before he took reporter questions.
The U.S. dollar fell to a fresh 3-year low against major currencies while Bernanke spoke.
Politics, re-election, and The Fed’s policies. A Lethal combination??
U.S. economic growth slowed more than expected in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.
As usual, Paul Krugman is leading the liberals to the briar patch, calling death panels a necessity to help balance the budget. In a roundtable discussion on ABC’s “This Week,” Krugman said of what recently came out of the president’s deficit commission: “Some years down the pike, we’re going to get the real solution, which is going to be a combination of death panels and sales taxes.” He also said, “Medicare is going to have to decide what it’s going to pay for. And at least for starters, it’s going to have to decide which medical procedures are not effective at all and should not be paid for at all. In other words, [the deficit commission] should have endorsed the panel that was part of the health care reform.”
Once Krugman pulled back the curtain, other liberals started talking about the “lie of the year.”
Writing for the Atlanta Constitution, Jay Booker admitted that death panels exist and defended their goals in a column entitled “Why ‘Death Panels’ are a necessary evil.” He said:
By law, the panel is prohibited from recommending health-care rationing; its role is simply to find the most cost-effective approaches to health care, with Congress given the power to override its decisions.
Inevitably, that proposal revived talk of “death panels.” It’s an emotionally powerful phrase, but only because it strips things down to uncomfortable truth: Death panels exist, they will exist in any conceivable system of health-care delivery, and we all know they are necessary but prefer to ignore it.
The only problem is, when it comes to medicine, what works for someone else may not work for you. But if the IPAB deems something unworthy of payment, it doesn’t matter that your doctor thinks is may work for you. You won’t get it, unless you’re wealthy and can pay for it yourself.
Leftist columnist Cynthia Tucker also joined the crusade, proclaiming: “Yes, we need death panels.” In Tucker’s world, the government would pick winners and losers in the health care arena. She writes, “If we keep spending our health care dollars disproportionately on the elderly, we will have little left to spend on children. That makes for an upside-down society that cannot thrive for long.” Kids win. Seniors lose.
These liberals are giving cover to the bureaucrats who are beginning to implement their vision of a new health care system in America. While this may seem a ways away, the bureaucrats at the FDA are already moving to deny the cancer drug Avastin to breast cancer patients. This is just the fist volley in the fight over rationing, and the IPAB hasn’t even started yet.
MASSACHUSETTS VOTES TO CUT COLLECTIVE BARGAINING!
Oh here’s news you probably won’t here on the Mainstream Liberal media:
Government-sector collective bargaining reform: When the Republican
dictator Governor of Wisconsin accomplishes it with a series of high-profile votes, all hell breaks loose. When the Democrat-dominated Massachusetts House passes it by a huge margin — crickets:
House lawmakers voted overwhelmingly last night to strip police officers, teachers, and other municipal employees of most of their rights to bargain over health care, saying the change would save millions of dollars for financially strapped cities and towns.
The 111-to-42 vote followed tougher measures to broadly eliminate collective bargaining rights for public employees in Ohio, Wisconsin, and other states. But unlike those efforts, the push in Massachusetts was led by Democrats who have traditionally stood with labor to oppose any reduction in workers’ rights.
DeLeo said the House measure would save $100 million for cities and towns in the upcoming budget year, helping them avoid layoffs and reductions in services. He called his plan one of the most significant reforms the state can adopt to help control escalating health care costs.
“By spending less on the health care costs of municipal employees, our cities and towns will be able to retain jobs and allot more funding to necessary services like education and public safety,’’ he said in a statement.
But union leaders said that even with the last-minute concessions, the bill was an assault on workers’ rights, unthinkable in a state that has long been a bastion of union support. Some Democrats accused DeLeo of following the lead of Governor Scott Walker of Wisconsin and other Republicans who have targeted public employee benefits
By the looks of that quote in bold, it seems as though Speaker DeLeo hired Scott Walker’s speechwriter. Meanwhile, the Bay State’s liberal Democratic Governor, Deval Patrick, has lent some mild support to the measure and is urging incensed labor leaders to “dial down” their heated rhetoric in opposing the bill:
There’s “room for debate” about whether a House-passed bill gives labor unions enough of a seat at the table on health insurance issues, Gov. Deval Patrick said today, adding that he’s glad the House dealt with the controversial topic and hopes to see a final bill soon.
“I want labor to be involved,” Patrick told reporters after signing a financial literacy bill. “I want labor to be at the table.”
The governor also urged labor unions, who are comparing the House plan to the stripping of collective bargaining rights that has occurred in Wisconsin, to pull back on their commentary. “They should dial it down because that’s not what’s happening here,” said Patrick, who plans to visit Wisconsin on Saturday at the invitation of Democrats in that state to discuss collective bargaining issues.
True, the Wisconsin law limits the scope of government-sector employees’ collective bargaining privileges to wages, whereas the Massachusetts law only constrains the public unions’ ability to collectively bargain on healthcare benefits. But the Wisconsin law exempted unions representing first responders from the new rules; the Massachusetts has no such carve-outs.
After Gov. Walker signed his controversial bill into law, lefty commentators predicted that his actions would trigger a powerful pro-labor backlash across the country. No dice. Wisconsinites re-elected a conservative supreme court justice in the face of intense left-wing opposition, Ohio passed a more expansive measure, and now deep blue Massachusetts has taken a major step to do the same. It’s amazing what a little political courage can do.
UPDATE: In case you’re curious about just how blue Massachusetts is, the state House is currently comprised of 128 Democrats and 32 Republicans. All but two of the GOP lawmakers voted with the Speaker’s plan. Theoretically, every single Republican in the chamber could have voted no, and the bill still would have passed comfortably.
Soo…shh..It’s a secret…
Just like Bernanke working to get Obama re-elected regardless of the harm and the inflation it will cause… 🙂