BloggeRhythms

Today’s items sadly, but loudly, reflect the damage done to the nation by the incumbent president and his cohorts in Congress.

 

FoxNews.com  reports that, “In just a matter of months, the price of a barrel of oil has dropped from more than $100 to about $70."

 

Thanks to oil production in the U.S., “OPEC, the cartel of oil-producing nations that has historically been able to calibrate the price of oil - and ultimately gasoline - by increasing or decreasing supply, announced Thursday that it won't fight the price skid by cutting production this time.” 

 

As a result an API study found that, “This reduction in petroleum product prices have saved U.S. consumers an estimated $63 to $248 billion in 2013 and estimated cumulative savings of between $165 and $624 billion from 2008 to 2013.” 

 

An added, but huge, benefit is that Iran is suffering too,”with the price drop adding to huge revenue losses due to sanctions on its crude sales imposed over its nuclear program.” While “Russia's economy is in trouble, making falling oil revenues a problem there, as well.” 

 

Therefore, immense gains to the U.S. economy are occurring now, while significant damage is simultaneously being wrought on the nation’s enemies. Which makes one wonder how much better things could have been over the past six years if honest and straightforward professional leadership had taken place instead of political pandering to extremist supporters, such as misguided environmentalists. 

   

On a similar topic, Sharon Begley of Reuters reports that, “Major U.S. corporations have broadly supported President Barack Obama's healthcare reform despite concerns over several of its elements, largely because it included provisions encouraging the wellness programs. 

 

“The programs aim to control healthcare costs by reducing smoking, obesity, hypertension and other risk factors that can lead to expensive illnesses. A bipartisan provision in the 2010 healthcare reform law allows employers to reward workers who participate and penalize those who don't. 

 

“But recent lawsuits filed by the administration's Equal Employment Opportunity Commission (EEOC), challenging the programs at Honeywell International and two smaller companies, have thrown the future of that part of Obamacare into doubt. 

 

What this means is that the government, as usual, couldn’t be satisfied with gains already attained by the health care tax, but instead sought to challenge for more from formerly solid, well-known supporters. And therefore, in their patently stupid and greedy approach, not only are subject to losing the funds involved but possibly the entire program.  

 

In that regard, Maria Ghazal, vice-president and counsel at the Business Roundtable, a group of chief executives of more than 200 large U.S. corporations, said "The fact that the EEOC sued is shocking to our members. They don't understand why a plan in compliance with the ACA (Affordable Care Act) is the target of a lawsuit. This is a major issue to our members."

 

As a result, “A threat of a corporate backlash comes at a time when Obama faces criticism even from his Democrats' ranks that he had devoted too much political capital to healthcare reform.

“Such action could take the form of radical changes in health benefits that employers offer. It could also mean supporting a potentially game-changing challenge to Obamacare at the Supreme Court next year and expected Republican efforts to eviscerate the law when they take control of Congress in 2015.” 

 

And, if that isn’t enough, Sarah Hurtubise, reporter for the dailycaller.com/2014, writes that, according to Gallup, “Thirty-three percent of Americans have delayed medical treatment for themselves or their families because of the costs they’d have to pay, according to [a new] survey. Obamacare, of course, had promised that it would help make health care more affordable for everyone, but the number of people who can’t afford a trip to the doctor has actually risen three points since 2013, before most Obamacare provisions took effect. 

 

“The hardest-hit: the middle-class. Americans with an annual household income of between $30,000 and $75,000 began delaying medical care over costs more in 2014, up to 38 percent in 2014 from 33 percent last year; among households that earn above $75,000, 28 percent delayed care this year, compared to just 17 percent last year.” 

 

Therefore, by creating a tax that was intended to provide health care coverage to approximately 16 percent uninsured in 2010, we now have 33% of those formerly covered in full, now unable to afford the costs of Obamacare.

 

Thus, this isn’t really just a transfer of wealth, it’s outright theft.

 

That’s it for today folks.

 

Adios