Feds go on economic bender and now are raiding federal workers pension to help pay for it all | motorcitytimes.com

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Feds go on economic bender and now are raiding federal workers pension to help pay for it all

Posted on May 16, 2011 by steve

Congress borrowed $1 trillion to for a so-called stimulus bill. You remember, the stimulus that was going to save our economy and we needed to pass it right away or the economy will collapse.
Not surprisingly, all the stimulus did was save Federal and State employees jobs, and not much more. Via Power Line:

Our benchmark results suggest that the ARRA created/saved approximately 450 thousand state and local government jobs and destroyed/forestalled roughly one million private sector jobs. State and local government jobs were saved because ARRA funds were largely used to offset state revenue shortfalls and Medicaid increases rather than boost private sector employment. The majority of destroyed/forestalled jobs were in growth industries including health, education, professional and business services.

As pointed out previously at MCT, government jobs are overhead that the private sector subsidizes. They contribute very little to the economy in the form of adding value.
Now that the bill for the so-called stimulus is due, we are now facing another crises and to solve the problem right away and its an emergency, The Treasury is now raiding federal workers pension funds to help pay for the fiasco.

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Doctors Threaten to Pull Out of Texas Medicaid

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Doctors Threaten to Pull Out of Texas Medicaid

about a minute ago from todaysworld

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  Cuts to the reimbursements given to doctors who treat patients covered by the state's low-income health care program are raising fears that already declining physician participation will fall even further, according to a published report.
  

  

  The health care and insurance industries fear that a 1 percent cut in Medicaid fees scheduled to take effect Sept. 1 will be the first in a series of cuts as state agencies are asked to trim their two-year budgets by 10 percent to help cover an expected $18 billion revenue shortfall, The Dallas Morning News reported Sunday.
  About 3.3 million poor and disabled Texans depend on Medicaid for health care, but less than a third of the state's 48,700 practicing doctors accept patients covered by the federal program, according to Texas Health and Human Services Commission. And some doctors who do participate in the program limit the number and kind of patients they accept.
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  "They're going to try to expand the rolls of Medicaid ... and at the same time they want to reduce the reimbursement to doctors," he said. "With the (pay) trend going downwards, I don't see additional physicians signing up. It's just not going to happen."

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Arizona Drops Children’s Health Program

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clipped from www.nytimes.com Arizona on Thursday became the first state to eliminate its Children’s Health Insurance Program when Gov. Jan Brewer signed an austere budget that will leave nearly 47,000 low-income children without coverage. The Arizona budget is a vivid reflection of how the fiscal crisis afflicting state governments is cutting deeply into health care. The state also will roll back Medicaid coverage for childless adults in a move that is expected to eventually drop 310,000 people from the rolls. The cuts also mean the state will forgo hundreds of millions of dollars in federal matching aid, and could lose far more if Congress passes a health bill that requires states to maintain eligibility levels for the two programs. The 12-year-old program, which enjoys bipartisan support in Congress, covers an estimated 7.7 million children whose parents typically make too much to qualify for Medicaid but too little to afford private insurance.

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House Dems on track for vote on $940B health bill

clipped from news.yahoo.com WASHINGTON – House Democrats are pushing to the brink of passage a landmark, $940 billion health care overhaul bill that would simultaneously deliver on President Barack Obama's promise to expand coverage while slashing the deficit, a strategy aimed at winning over the party's fiscal conservatives. Leaving nothing to chance, the White House announced that Obama has put off his planned trip to Asia for a second time, delaying it until June. Obama was to have left Sunday — when the House is planning to vote. Said House Speaker Nancy Pelosi: "He wants to be here for the history." The 10-year plan would provide coverage to 32 million people now uninsured through a combination of tax credits for middle class households and an expansion of the Medicaid program for low income people. The U.S. Conference of Catholic Bishops opposes the Senate-passed legislation, contending it would permit the use of federal funds for elective abortions.

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