Reaping Obamacare Rewards

Republican leader John Boehner said they have to repeal the health care bill or else it’ll bankrupt the country. Meanwhile, on November 3^rd, the Federal Reserve announced they’re going to print 600 billion dollars to buy US Treasury Bonds. They’re doing this to entice banks to lend money by making interest on US Treasuries come down, so investors won’t buy them so much. They call this “quantitative easing”.

The fed stated they are doing this to spur the economy and create jobs. In reality, it helps the banks (the same ones who brought us this depression), more than it helps the economy.

Understand, we owe interest on every dollar the federal reserve, a bank, prints. Therefore, we now owe the interest on 600 billion more dollars. How much debt will these interest payments leave to future generations?

The fed announced this back door bailout the day after the elections; which Republicans won by saying “no more bailouts”. Yeah, right.

The AP reports “stocks indexes reached new highs a day after the Federal Reserve announced a $600 billion plan to boost the economy“, “investors like gridlock”, and a “stalemate between the White House and the new Congress will mean less regulation of business.”

With no one watching, self inflicted gridlock means banks will continue to reap unfettered profits at our expense by printing money, and insurance companies will continue to monopolize health care while raising premiums.

By focusing on repealing Obamacare along with Mitch McConnell’s pledge to insure Obama is a one term president, they’re only focusing on the easy targets, they’re not focusing on tough targets like banks who are ”too big to fail“, or insurance monopolies.

Besides, it’s not like the president’s health bill or the financial bills did anything to address real issues, they only took out some of the most reprehensible business practices, like denying sick kids insurance or reaching a benefit maximum. New credit card laws prevent only a few banking abuses while leaving mechanisms in place to guarantee another recession/depression.

Catchy campaign slogans ring hollow when compared to the reality that in one year banks contributed 88 million to Democrats and 67 million to Republicans. Obamacare isn’t the only monster in the closet.