Posted on

Obamacare’s Economic Assumptions Collapse

obamacare_theridgewoodblog

By Andy Puzder
August 29, 2016

Economic reality is making it increasingly obvious that we are in the midst of Obamacare’s long anticipated death spiral. Most recently, Aetna joinedUnitedHealthcare and Humana as the third of the “big five” insurance firms to announce major cuts to its Obamacare exchange business.

For insurers, it’s simple math: Premiums collected must exceed claims paid. If too few healthy, low risk individuals enroll to offset the costs of insuring unhealthy, high risk individuals, the math doesn’t work. This imbalance forces insurers to raise premiums on the low risk individuals who do enroll to cover the costs of insuring high risk individuals. The rising premiums cause even more healthy individuals to drop coverage – resulting in what has been called a death spiral.

https://www.realclearpolitics.com/articles/2016/08/29/obamacares_economic_assumptions_collapse_131637.html

Posted on

Rep. Garrett to Chair Yellen: why does the Fed favor Wall Street over Main Street?

House Budget Panel Holds Hearing to Receive  Views on Fiscal 2012
July 1,2016

the staff of the Ridgewood blog

Ridgewood NJ, In case you missed it, earlier this week Rep. Scott Garrett asked Fed Chair Janet Yellen why the Fed of pursues policies that help the rich at the expense of the poor. Garrett schooled Fed Chair Yellen on the damaging impact her policies have had on the middle class in this country . Garret said the net effect of Fed and administration policy has been to widen income inequality.

In this clip Garrett turns the Fed’s own language against itself and details how Fed policies have hurt African America’s and other  minority groups , as well as the middle class  .

 Watch the clip and let me know your thoughts.