There is always some inflation. Here is the average annual inflation rate under each of a bunch of past presidents:
1.6 Obama (to Nov. 2013)
Our biggest problem now is too many low information people who assume that what's happening in their backyard - less than 2% of the earth's surface - is what's happening everywhere, and that what;'s happened in their backyard over the past couple of weeks, is what's happened over the past decade.
And more things we might do:
3. We could "draft" every American for a year or so following high school or college to serve the country, either in the military, or in an Americorp type of program, teaching, cleaning up our cities and countryside, repairing infrastructure, and more.
4. We also might decide to actually build colonies on the moon and maybe Mars. China now has a plan like this for the moon, and they will be there before we will, unless things change.
5. 5. We could also decide to update, and invest in our infrastructure, Cleaner energy. Faster and safer transportation. Make our tools and appliances recyclable and reusable. Competitive internet utilities. The US is falling behind daily with most of our installed infrastructure, compared with many other countries.
Until we decide to invest in ourselves again, we are probably going to continue bumping along with high unemployment, and too many low skilled workers. But, if the competition for high skilled workers increases enough, maybe the increased pay to attract people to fill the positions will provide enough incentive for people to get the education they need.
Yes, Lang, the problem is mostly wage and job based. Until the unemployed ca find jobs, and better paying jobs, the economy and inflation will remain stuck.
The business section in this Sunday's Boston Globe had a good article on exactly what the problem is here, called "The Great Mismatch". The problem is hat while there are a lot of unemployed, there are also a lot of jobs going unfilled, and the issue is training and skills. The unemployed are people with skills in construction, manufacturing, transportation, and financial services. At the same time there are thousands of unfilled positions in high tech, scientific R&D, health care, education, hospitality, and leisure, and pharmaceuticals, among others. It's not easy to switch from nailing shingles on a roof to working at a pharmaceutical lab bench, or from tightening bolts in a factory to operating the CNC machines, or the robots that now tighten the bolts there.
A good example is at my doctor's office. They recently let go 2 file clerks who managed the room full of paper patient records, and replaced them with a single IT technician to manage and maintain the new computers and digital databases of patient records.
The world of work has changed tremendously, nd it's nt going to change back. People now need different skills in order to find a job, and there are probably fewer jobs as well. There are a number of possibilities that might be tried to fix the employment problem, but, unfortunately, they all cost some money:
1. We could reduce the work week to 35 or even 30 hours, which would open more jobs for people, but there is still the skills problem.
2. We could invest in education for all Americans, we have done for recent VETs. This worked well after WWII, but this time very few Americans are VETs, while then, almost everyone was a VET.
Electronic medical records are cheaper, safer, and much easier to share than the old paper records. American companies switched to digital record keeping more than 30 years ago. Doctors, hospitals, and pharmacies have been doing it over the past 10 years or so. I'll bet that the doctors of everyone who has responded to your post sees doctors who now use digital records. Now when I see the doctor and he writes a prescription, its electronic, and it's ready and I can pick it up at the pharmacy as soon as i arrive.
People have been trying to get doctors to make the switch well before GW Bush. Finally, with Obamacare, all doctors are now making the switch. Both money and lives will be saved because of this switch. It's about time!
Get it right! He's not paying more, but, at least with my suggestion, he's paying at exactly the same rate - a flat tax - 6.2%, (or 5.8%) on everyone's income. Flat taxes used to be what conservatives preferred. When did you get off that conservative boat?
It's the guy making $117K who is paying more now, as he pays 6.2% on his income, while the guy with $200K is paying just 3.6% on his income. So, at present, there is a redistribution of wealth, from the guy who is paying more to the guy who pays less.
Just simplify it and make it the same tax rate for everyone, on all everyone's income. Then we could probably lower the rate to something like 5.8% from the current 6.2%, too, and fix the social security funding problem, as well. All with one simplifying change.
That is an interesting idea = one that I've think might be a good idea. But, I do wonder how strictly they might be with the math, and hatt the effect really would be, in some cases.
For example, what would happen if the real gdp growth were 7% (It's done that before)? Would the inflation rate then be set at -2%? That's a deflationary environment, and one that probably would not be good for the economy, as in most deflationary environments, people stop buying things, because they will be cheaper next week or next month. But, of course, that's exactly what you want if you want to slow the growth rate. The real question is how bad would it be,and how much do you need to actually cut the rate of new dollars in order to get the desired effect. With deflation, the issue may be as much psychological, as it is mathematical.
Your goal is to reduce or remove the psychological impact, but I wonder how much this would actually do that. It still might be worth trying in order to find out.
Yes, but I'd expect numbers like that now. First, that's just the government obamcare websites. That's where you must go if you think you might be eligible for some Medicaid help. Both you (I expect) and I have not used those sites, because we are part of the other 80% of the nation who already have our own sources for health insurance. Of the 20% who don't already have insurance, many will get their insurance directly from an insurance company, or through their employer, or get added to their parent's policy.
And if the people around hereare any sign of what's happening, it's the people who need insurance now (pre-existing conditions, uninsured poor, ...) who are signing up first. Those who are required to have insurance, but don't need health care immediately, are waiting until the last minute possible (sort of like those who wait until the last minute to pay their income taxes).
Those numbers will almost certainly change a lot by February or March. And there may be some big differences between states that have accepted the federal Medicaid, and those that have not, as well.
I guess I don't understand all these complaints about them doing their job. If they don't want the job, then give it up and let some who wants to do the work, do it. It's no wonder that Congress has only a 5% approval rating.
Are you planning to pay the penalty and be uninsured? And if not, why would you think that anyone else would want to do that?
Lang, you and Billy should get together. Write a book! I'm sure that between you, you two could write a Tea Party, RFD best seller!
The certified text of the ACA law is 906 pages long, so either the 10,535 pages of regulations or the factor of 30 is wrong. (fyi, 906 X 30 is not 10,535!). I doubt that you got either of those numbers from the "government. And I expect that both are wrong.
But, that said, I'm not surprised that the ACA law has created and changed lots of federal, and state regulations, in all 50 states. Change are needed in regulations for doctors, hospitals, medical equipment manufacturers, pharmacies, privacy laws, insurance companies, and more. That number you cite, 10,535, is probably too low, actually, given all the changes needed in every state.
Yep, there are still problems with the software. But this is probably one of the biggest software system every created. Thousands of computers, but government owned, and those owned and operated by dozens of private insurance companies. 3 or 4 government databases need to be integrated, and made to work together, and they also need to work with the databases of those same dozens of private insurance companies. Millions, if not billions of lines of code are involved. It is a huge, and difficult job, and it was also not very well managed from the start.
But it is beginning to work now.
I recently was talking about Obamacare insurance with a few friends here. They all have their own insurance now, so I didn't think any of them would be interested in Obamacare, as none were eligible for any Medicare help. I was wrong! One had already signed up through the website. She said that she was able to get better insurance, and save $400 a month. A second had gone through the process, but not yet signed up. His results were going to be similar. Another had simply begun by checking the introductory spreadsheet, and saw that there were advantages for her as well. She planed to go through the whole process this week. A fourth had not yet stated, but would soon.
Finally, it was interesting to note that it appeared that it was the women who handled healthcare in many, if not most families. It as the ladies who knew what health care cost, made sure that the families had the insurance that they need. To see whether Obamacare is working, it may be better to listen to the women in our lives.
It certainly sounds like he's gotten the message from his constituents that, "if you break it, you own it!". So, suddenly, making his government work has become much more important to him. A new discovery for him and others like him, it now appears.
That's a good thing, for sure.
"Obamacare regulations alone run 10,535 pages or 11,588,500 words, which is 30 times longer than the law itself. "
You say that the Obamcare law is just 350 pages long? (10,535/30) pages long. Better check your math - and your sources.. How long did it take you to read those 350 pages?
It's good to see there are a few rational people left in Washington.
The national debt is large, but it is also easily solvable, with a little math and time., if it's examined rationally.
For example, if we really want to pay off the $17 trillion debt, we can do it fairly easily over time. Consider that over the next 50 years the population of the country will grow to about 500,000,000, if population growth continues as it has for the past century. So, if we consider a $17 trillion debt, 50 years, and an average population of 400 million. Doing the math, the debt could be paid off if every citizen paid just $850 a year. Then consider inflation. In 50 years, that $850 would only be worth about $100 in today's dollars, if inflation continues as it has for the past 50 years.
The debt grows a lot during recessions, and when we are fighting wars. For the past 5 years and more, we have been enjoying both. With the end of the wars, and the end of the recession, the deficit and debt can be again controlled and even reduced.
In 20 years, most people will wonder why we were so worried about the debt, after a more rational Congress has finally done something to control it.
Excellent proposal, Lang, but I do think that it might be a little more complicated. Sending the same amount to each "family" might not work well, so it might be necessary to instead send $x to each adult, $y to each child, and $z to each invalid.
No one deserves a free ride? Your invalid mother doesn't deserve a free ride? The severely injured kid who was hit by a school bus on the way to school doesn't deserve a free ride? The veteran missing his legs and arms doesn't deserve a free ride? The kid born with severe mental deficiencies doesn't deserve a free ride? The unemployed cancer patient and his family don't deserve a free ride?
Certainly almost all of these people may be able to contribute something to support themselves and their families, but, without some help, all would be living in a box out on the street. What's your plan? Take them all out to a field and dig a big hole in the ground for them?