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Tom Au, CFA
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In the early 1990s, during the middle of a secular bull market, I began work on "A Modern Approach To Graham and Dodd Investing," that was not particularly suited for the decade of the 1990s, but was ideally suited for the following "Lost Decade" of the 2000s.
My book:
A Modern Approach to Graham and Dodd Investing
  • Did Budget Estimates Of the Health Care Bill Matter? 0 comments
    Mar 22, 2010 11:18 AM
    By the most conservative estimates, the new health care bill will cost something like $1 trillion. If that's the case, we can pay for it, through new taxes/fees/penalties built into the health bill.

    On the other hand, there are other estimates that the true cost of the bill's mandates is more like $2 trillion. There is a limit to the amount of taxes that could be raised to finance it.

    A more important question is, are there any legislators out there who would be willing to pass the bill if the final cost were approximately $1 trillion, but would balk if the best estimate was closer to $2 trillion. Put another away, are there any lawmakers that think in cost and "P&L" terms? That would be thinking like a businessperson.

    Or are there more legislators that would vote for the bill if it cost $10 trillion or even $100 trillion? We want the health bill and the solvency of the country be damned! That, of course, would not be legislation, that would be politics.

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