Yeah, let's take advice on the banking system from a guy who works at a non-profit. He gets what makes markets tick.
You couldn't be more wrong if you tried. You could try, but you would fail. Do you think banks like not lending to people? Do you know what their money does when they don't lend to people? It sits there, earning less money than it otherwise could. That sort of thing brings palpitations to their cold, black hearts. So if they could, they would love to extend small businesses credit. There's just the small matter of it being unlikely that small businesses would pay back the loan, and a near certainty that this Government would pass laws so as to screw over the awful bankers who loaned those businesses money in the first place. So you see, the issue isn't the awful banks - it's the viability of the economy, and the creditworthiness of the participants in concert with the consistency of the rule of law.
You sound like Hugo Chavez, who has clearly done wonders for the economy of Venezuela. Every time something goes wrong because he's driving the country into the ground, it's the evil capitalists who are conspiring again. And Chavez is there to 'protect' the people, invariably by doing something that makes it all worse because he's a dumb peasant with no grasp of economics.
Similarly, you want endless expansion of the Government into the business of employing people. Which is fine and dandy as a stop-gap measure, except instead they become a permanent parasite class on the private sector's productivity, doing wonderfully useless feel-good 'work' that makes no compelling economic sense. Which of course drags on reinvestment and economic growth, and slowly erodes our future.
You also want to reward the same politicians who screwed up the healthcare market in the first place with the responsibility of running the whole show, since they did such a bang-up job of limiting pre-existing conditions, opening healthcare markets nationwide, properly incentivizing individual choice versus employer choice, ensuring proper information was provided, increasing medical care supply, decreasing the draconian process of getting drugs to market, and generally of understanding basic healthcare economics for the decades before this was a crisis.
Just absolutely whackadoodle. You are the reason we need to emphasize basic economics education in the United States.
hardonguy saidBut now I just wish he would do what he says. He's got to walk the talk. Jobs has to be number 1 and I think he should just put health care on hold, until the economy gets better because right now people just want a job, they don';t care about health care. If he doesn't come up with a plan soon to create some jobs, his term is going to be up and he's not going to get a second chance.
There are two problems with this. A) Healthcare is not only the leading cause of individual bankruptcies, but the ever-rising costs are crippling the ability of small and, even mid-size, businesses to create jobs by increasing their staffs. I worked for a small nonprofit where I had crappy insurance and it costs the organizations about $7,000 a year. It went up from $5,000 to $7,000 in the three years I worked there. That's a huge increase, far outpacing inflation. B) Obama is boxed in by Blue Dog democrats (as he was with the stimulus plan) and the procedural rules of the Senate, so he cannot pass the kind of broad jobs programs that we really need to reverse the trend. That is further flamed by the fact that the big banks that we, the taxpayer (thanks to George Bush) bailed out will not lend to small businesses owners.
So, small businesses, which are the number one site of job creation in the economy can't get loans to start or expand their businesses and, when they can, the cost of healthcare - even crappy healthcare - eats into their bottomline in a way that isn't sustainable.