Skyrocketing domestic consumption - helped along by subsidies masking the true cost - is key to Saudi Arabia maybe becoming a net importer of oil by 2030, far sooner than previously thought. The country already consumes the entirety of its gas production and is likely to imminently need new sources for that. Might this concentrate the Saudi mind on nuclear and solar energy? (previous) [View news story]
Amadon;
It seems your premise is based on "peak oil" theory.
"The models behind peak oil in 1956 to accurately predict that United States oil production would peak between 1965 and 1970.[7] His logistic model, now called Hubbert peak theory, and its variants have described with reasonable accuracy the peak and decline of production from oil wells, fields, regions, and countries,[8] and has also proved useful in other limited-resource production-domains."
Notice the dates that "peak oil" was scientifically determined to start; 1965-1970.
People that have, or espouse, that kind of nihilist prediction have no capacity to understand the ingenuity of humans.
We are building our first new nuclear power plants in decades as well as licensed many new expansions, more than tripled our renewable energy generation in the last few years, made exponential improvements on energy efficiency, discovered new technology for fossil fuel extraction- that's only in America....... we are still in the stone age.
Go ahead, bet against human ingenuity/ American ingenuity. If we could get self serving corporations out of the political system it would move faster but we have the system we are stuck with so the progress will be incremental but assured.
Skyrocketing domestic consumption - helped along by subsidies masking the true cost - is key to Saudi Arabia maybe becoming a net importer of oil by 2030, far sooner than previously thought. The country already consumes the entirety of its gas production and is likely to imminently need new sources for that. Might this concentrate the Saudi mind on nuclear and solar energy? (previous) [View news story]
Amadon;
Money In Markets is an official website?
The advice get out now before it's too late. You should have picked a different moniker, maybe, Armageddon, or, Hell's Going to Break Loose". lol
Look for a big sell-off in stocks sometime in the next 10 days, says Goldman’s Stuart Kaiser. Why? Because the ECB Governing Council - which meets this Thursday amid speculation it will lay out some dramatic measures - and the Fed - which meets on September 12 and 13 amid hopes for a third round of quantitative easing - will both disappoint. When that happens, the equity strategist is predicting a selloff that will hit rapidly, so he's warning clients to protect themselves now. [View news story]
Tack, you are smarter than I.
I feel that the ECB has no choice due to lack of market access for Spain and Italy. The FED is a non-event, the ECB policy is all that matters- systemic risk or not.
Driving down long rates by 25bps is not what this market is looking for. It is looking for stability in the EZ. The Fed not doing a policy response is positive for our markets. IMHO
What's Debt Got To Do With It? A Lot [View article]
Iron:
" Increase taxes to 100% and let's see what happens to the economy. LOL. "
That epitomizes your mental health.
You are sad. It is not worth any effort to provide information to someone that has a closed mind. You are a poster child for mind made up, closed to facts, sycophant.
What's Debt Got To Do With It? A Lot [View article]
genomegk"
You make too much sense.
Only a "Voodoo Economics, trickle down believer" could turn an increase in GDP to a massive increase in deficits and sell it to the American public as progress. It's amazing spin.
What's Debt Got To Do With It? A Lot [View article]
Iron: "I have yet to see any evidence that Obama is stripping waste from anything. Medicare fraud, IRS fraud, the fraud of overriding bankruptcy laws to benefit his supporters and screw bond holders"
Health Care Fraud Prevention and Enforcement Efforts Result in Record-Breaking Recoveries Totaling Nearly $4.1 Billion Largest Sum Ever Recovered in Single Year
My governor, who is hosting the convention, his company pleaded guilty to the largest health care fraud in US history. Then he became governor. Republicans love them nice and corrupt, especially in Florida.
Here's some more reading for you:
"By the design of the program, the federal government is not permitted to negotiate prices of drugs with the drug companies, as federal agencies do in other programs. The Department of Veterans Affairs, which is allowed to negotiate drug prices and establish a formulary, has been estimated to pay between 40%[26] and 58%[27] less for drugs, on average, than Medicare Part D."
"Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group. Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
What's Debt Got To Do With It? A Lot [View article]
JB;
" rely on proxy measurements such as engineering reports that state that our roads and bridges are in bad shape."
Now that makes a lot of sense. Get engineers to analyse the situation. They have and the unfunded needs are more that 10 T.
What we need is to put the construction workers back to work, they are the structurally unemployed today. There are more jobs than qualified EE engineers but construction workers cannot be retrained to be engineers or doctors.
We have a need identified by professional engineers, that if unmet, will cost at least 10x more if left to catastrophic end, which is guaranteed to happen. We have idle employees, we have cheap funding- seems simple right? No we have the tea party. We could even fund the construction by adding a 1c gas tax earmarked for the BuildAmerica bonds instead of adding it to our structural deficit. No, we have the no tax tea party.
There never has been a more destructive movement in America. That is the point of the excellent article, now is the time to invest in American infrastructure not abandon it.
What's Debt Got To Do With It? A Lot [View article]
Good points Rudester.
It would be interesting to see if one "job creator" could be convinced to build a facility in the middle of nowhere, agree to never use public roads, educate his employees in house, agree to never use any airport or seaport for the transportation of his goods, agree to never use police or fire service, agree to never file a lawsuit or use the court system- and pay no taxes.
There are places just like that, in the African bush. Never saw a job creator there.
What's Debt Got To Do With It? A Lot [View article]
Jb1982;
Can you tell me where there is a "bridge to no where". I have been on thousands of bridges and they always brought me to where I wanted to be. When on the bridges, I saw hundreds of cars and when I got off the bridges I saw more businesses, people, cars.
If you are referring to the corrupt Alaskan senator Stevens' earmark, that was never built. The system worked.
If there is one anecdotal example of anything it does not make that a systemic problem.
If one doctor is caught ripping off Medicare, do we stop all doctor's from treating Medicare patients? Of course not. So please stop with the silly bs.
btw; The American Society of Civil engineers did do an analysis of the cost of deferring maintenance on our structurally deficient bridges. I am going by recollection but it was somewhere in the range of $10 saved for every dollar spent to do corrective structural maintenance before a catastrophic event occurs; it is guaranteed it will occur, just the timing is unknown. You can lean more by reading about the Minneapolis bridge collapse. Here is a link so you can see what is going to happen without some spending; /http://bit.ly/PYq8Xe
I guess we don't need to spend money, it might get wasted on union steel workers.
What's Debt Got To Do With It? A Lot [View article]
John12345;
I re-read my post and I saw nothing about killing the Waltons, hating the Waltons, or anything negative about the Waltons.
I know I was referring to the fact of concentration of wealth in the last 30 years due to favorable tax policy and import/export policy that destroyed millions of American jobs to enable the Walton heirs to get rich by being born. That's all- no hate, death or animus toward them.
That kind of stratification of wealth in not productive or conducive to a thriving economy.
"With the exception of aircraft carriers (40 year life) and some other capital items most of these expenditures are used up in a relatively short time period. "
Have you ever heard of; a military base, jet fighters, radar installations, munition dumps, R&D? It is true most of the money spent on the military is wasted on personnel, health care, retirement, etc. It is wasted, until you need it, then it is vital.
I have been wasting money on auto, life and homeowner's insurance for decades.
"These funds are typically sent to NYC and elsewhere and are used to prop up the finances and personnel retirement for a bankrupt train system."
Bankrupt train system?????? Are you ok? Are you referring to public transportation systems? If so that is about .00000000001% of the federal budget. Please read the budget. You will feel better to know most of the money goes to supporting old people, sick people, military and interest payments.
What's Debt Got To Do With It? A Lot [View article]
Iron:
Please get you facts from a source other than the Republican party, Fox News.
"Obama has stolen nearly a trillion dollars from Medicare, and many misguided souls will still vote for him"
I think you might be referring to Obama eliminating $716B from the Medicare program by: STRIPPING AWAY WASTE! Cutting excessive payments to hospitals for poor results, cutting payments to insurance companies, etc.
You see if you get the same benefits or more benefits but the cost has been reduced, that is not a reduction in the benefits that the program provides, it is a reduction in cost. That is a good thing, isn't it??????
btw; Paul Ryan was smart enough to do the same thing in his budget proposal. I got it; Obama= bad; Ryan=good.
Please read before you vote. Really don't listen, read about the specific proposals and what the outcome will be. The Congressional Budget office provides a lot of handy facts.
What's Debt Got To Do With It? A Lot [View article]
Well said Mr. Karlhafer:
Welcome to the party where the Obama/Democrat haters blame government waste and the progressive, evil tax system on him. You know, he is not one of "us". He is a Muslim, Marxist, communist, European, hates America, hates business, loves welfare, taking over America with his Czars, unworthy lightweight, not U.S. born, unintelligent, uneducated, soviet plant that has a secret agenda to take over America by destroying it from within.
Really: they still ask: have you seen his birth certificate, proof of college degree? It is so sad.
Information and common sense does not work with the haters.
What's Debt Got To Do With It? A Lot [View article]
I know Iron. You have made your point abundantly clear in numerous posts.
There is no sense in plowing perfectly good money into saving old people by providing health insurance; much less, nursing homes, food, shelter. Got it.
That is where the real money is. But, bigots don't care much for "welfare queens, indigent people, disabled people (unless they are known before birth whereby Republican/bigots love all of "god's children but once born they are leeches) they love people like Romney that only pay 15% of their income in taxes, or the Waltons that inherited money and have more wealth than the bottom 40% of the country, that's seven offspring.
Iron, I really hope you are one of the 1% because if you vote for the R's you're fixin' to get a tax increase and they will get a massive tax decrease. That logic confounds me, I guess I think too much.
What's Debt Got To Do With It? A Lot [View article]
Irish:
It is you that needs to do some reading. Here, I will make it easy for you:
"In August 2010, the Congressional Budget Office (CBO) estimated that extending the tax cuts for the 2011-2020 time period would add $3.3 trillion to the national debt, comprising $2.65 trillion in foregone tax revenue plus another $0.66 trillion for interest and debt service costs.[29] The non-partisan Pew Charitable Trusts estimated in May 2010 that extending some or all of the tax cuts would have the following impact under these scenarios: Making the tax cuts permanent for all taxpayers, regardless of income, would increase the national debt $3.3 trillion over the next 10 years. Limiting the extension to individuals making less than $200,000 and married couples earning less than $250,000 would increase the debt about $2.2 trillion in the next decade. Extending the tax cuts for all taxpayers for only two years would cost $561 billion over the next 10 years.[30]"
Special tax breaks are called spending in budget decisions. It is hardly astounding that as GDP grows tax receipts would grow too. However, tax receipt would grow faster with higher rates unless the rates were so high that they would stifle growth. Four percent will not stifle anything, unfortunately not even the whiners.
Outlook For Equities: Time To Take The Foot Off The Accelerator [View article]
Jbbson:
2 wars- 100% president's decision and power to implement under Republican congress' fiscal authorization. Medicare part D: enacted in 2006: side note:
"By the design of the program, the federal government is not permitted to negotiate prices of drugs with the drug companies, as federal agencies do in other programs. The Department of Veterans Affairs, which is allowed to negotiate drug prices and establish a formulary, has been estimated to pay between 40%[26] and 58%[27] less for drugs, on average, than Medicare Part D. For example, the VA pays as little as $782.44 for a year's supply of Lipitor (atorvastatin) 20 mg, while the Medicare pays between $1120 and $1340 on Part D plans.[2
"Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group. Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
Bush Tax cut 1: Tax Relief and Reconciliation act 2001 Bush Tax cut 2: Jobs and Growth reconciliation and relief act of 2003
Please note that the the congress was controlled by the Republicans for 6 years and Bush vetoed only 1 bill before 2007; the lowest in 200 years.
YOU: "the democrates were busy pandering to constituencies with our money and the results are in."
"Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
Also: Please REREAD: "Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group."
Do you notice a Republican corruption pattern? Republicans are not the only one's corrupt but we are talking about the Bush era.
Are you misinformed, uneducated or a Republican sycophant?
Skyrocketing domestic consumption - helped along by subsidies masking the true cost - is key to Saudi Arabia maybe becoming a net importer of oil by 2030, far sooner than previously thought. The country already consumes the entirety of its gas production and is likely to imminently need new sources for that. Might this concentrate the Saudi mind on nuclear and solar energy? (previous) [View news story]
It seems your premise is based on "peak oil" theory.
"The models behind peak oil in 1956 to accurately predict that United States oil production would peak between 1965 and 1970.[7] His logistic model, now called Hubbert peak theory, and its variants have described with reasonable accuracy the peak and decline of production from oil wells, fields, regions, and countries,[8] and has also proved useful in other limited-resource production-domains."
Notice the dates that "peak oil" was scientifically determined to start; 1965-1970.
People that have, or espouse, that kind of nihilist prediction have no capacity to understand the ingenuity of humans.
We are building our first new nuclear power plants in decades as well as licensed many new expansions, more than tripled our renewable energy generation in the last few years, made exponential improvements on energy efficiency, discovered new technology for fossil fuel extraction- that's only in America....... we are still in the stone age.
Go ahead, bet against human ingenuity/ American ingenuity. If we could get self serving corporations out of the political system it would move faster but we have the system we are stuck with so the progress will be incremental but assured.
Skyrocketing domestic consumption - helped along by subsidies masking the true cost - is key to Saudi Arabia maybe becoming a net importer of oil by 2030, far sooner than previously thought. The country already consumes the entirety of its gas production and is likely to imminently need new sources for that. Might this concentrate the Saudi mind on nuclear and solar energy? (previous) [View news story]
Money In Markets is an official website?
The advice get out now before it's too late. You should have picked a different moniker, maybe, Armageddon, or, Hell's Going to Break Loose". lol
Look for a big sell-off in stocks sometime in the next 10 days, says Goldman’s Stuart Kaiser. Why? Because the ECB Governing Council - which meets this Thursday amid speculation it will lay out some dramatic measures - and the Fed - which meets on September 12 and 13 amid hopes for a third round of quantitative easing - will both disappoint. When that happens, the equity strategist is predicting a selloff that will hit rapidly, so he's warning clients to protect themselves now. [View news story]
I feel that the ECB has no choice due to lack of market access for Spain and Italy. The FED is a non-event, the ECB policy is all that matters- systemic risk or not.
Driving down long rates by 25bps is not what this market is looking for. It is looking for stability in the EZ. The Fed not doing a policy response is positive for our markets. IMHO
What's Debt Got To Do With It? A Lot [View article]
" Increase taxes to 100% and let's see what happens to the economy. LOL. "
That epitomizes your mental health.
You are sad. It is not worth any effort to provide information to someone that has a closed mind. You are a poster child for mind made up, closed to facts, sycophant.
Have a nice life.
What's Debt Got To Do With It? A Lot [View article]
You make too much sense.
Only a "Voodoo Economics, trickle down believer" could turn an increase in GDP to a massive increase in deficits and sell it to the American public as progress. It's amazing spin.
What's Debt Got To Do With It? A Lot [View article]
"I have yet to see any evidence that Obama is stripping waste from anything. Medicare fraud, IRS fraud, the fraud of overriding bankruptcy laws to benefit his supporters and screw bond holders"
You are such a sad hater:
http://1.usa.gov/RVKfsx
Health Care Fraud Prevention and Enforcement Efforts Result in Record-Breaking Recoveries Totaling Nearly $4.1 Billion
Largest Sum Ever Recovered in Single Year
http://1.usa.gov/PpokUP
My governor, who is hosting the convention, his company pleaded guilty to the largest health care fraud in US history. Then he became governor. Republicans love them nice and corrupt, especially in Florida.
Here's some more reading for you:
"By the design of the program, the federal government is not permitted to negotiate prices of drugs with the drug companies, as federal agencies do in other programs. The Department of Veterans Affairs, which is allowed to negotiate drug prices and establish a formulary, has been estimated to pay between 40%[26] and 58%[27] less for drugs, on average, than Medicare Part D."
"Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group. Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
What's Debt Got To Do With It? A Lot [View article]
" rely on proxy measurements such as engineering reports that state that our roads and bridges are in bad shape."
Now that makes a lot of sense. Get engineers to analyse the situation. They have and the unfunded needs are more that 10 T.
What we need is to put the construction workers back to work, they are the structurally unemployed today. There are more jobs than qualified EE engineers but construction workers cannot be retrained to be engineers or doctors.
We have a need identified by professional engineers, that if unmet, will cost at least 10x more if left to catastrophic end, which is guaranteed to happen. We have idle employees, we have cheap funding- seems simple right? No we have the tea party. We could even fund the construction by adding a 1c gas tax earmarked for the BuildAmerica bonds instead of adding it to our structural deficit. No, we have the no tax tea party.
There never has been a more destructive movement in America. That is the point of the excellent article, now is the time to invest in American infrastructure not abandon it.
What's Debt Got To Do With It? A Lot [View article]
It would be interesting to see if one "job creator" could be convinced to build a facility in the middle of nowhere, agree to never use public roads, educate his employees in house, agree to never use any airport or seaport for the transportation of his goods, agree to never use police or fire service, agree to never file a lawsuit or use the court system- and pay no taxes.
There are places just like that, in the African bush. Never saw a job creator there.
What's Debt Got To Do With It? A Lot [View article]
Can you tell me where there is a "bridge to no where". I have been on thousands of bridges and they always brought me to where I wanted to be. When on the bridges, I saw hundreds of cars and when I got off the bridges I saw more businesses, people, cars.
If you are referring to the corrupt Alaskan senator Stevens' earmark, that was never built. The system worked.
If there is one anecdotal example of anything it does not make that a systemic problem.
If one doctor is caught ripping off Medicare, do we stop all doctor's from treating Medicare patients? Of course not. So please stop with the silly bs.
btw; The American Society of Civil engineers did do an analysis of the cost of deferring maintenance on our structurally deficient bridges. I am going by recollection but it was somewhere in the range of $10 saved for every dollar spent to do corrective structural maintenance before a catastrophic event occurs; it is guaranteed it will occur, just the timing is unknown. You can lean more by reading about the Minneapolis bridge collapse. Here is a link so you can see what is going to happen without some spending;
/http://bit.ly/PYq8Xe
I guess we don't need to spend money, it might get wasted on union steel workers.
What's Debt Got To Do With It? A Lot [View article]
I re-read my post and I saw nothing about killing the Waltons, hating the Waltons, or anything negative about the Waltons.
I know I was referring to the fact of concentration of wealth in the last 30 years due to favorable tax policy and import/export policy that destroyed millions of American jobs to enable the Walton heirs to get rich by being born. That's all- no hate, death or animus toward them.
That kind of stratification of wealth in not productive or conducive to a thriving economy.
"With the exception of aircraft carriers (40 year life) and some other capital items most of these expenditures are used up in a relatively short time period. "
Have you ever heard of; a military base, jet fighters, radar installations, munition dumps, R&D? It is true most of the money spent on the military is wasted on personnel, health care, retirement, etc. It is wasted, until you need it, then it is vital.
I have been wasting money on auto, life and homeowner's insurance for decades.
"These funds are typically sent to NYC and elsewhere and are used to prop up the finances and personnel retirement for a bankrupt train system."
Bankrupt train system?????? Are you ok? Are you referring to public transportation systems? If so that is about .00000000001% of the federal budget. Please read the budget. You will feel better to know most of the money goes to supporting old people, sick people, military and interest payments.
What's Debt Got To Do With It? A Lot [View article]
Please get you facts from a source other than the Republican party, Fox News.
"Obama has stolen nearly a trillion dollars from Medicare, and many misguided souls will still vote for him"
I think you might be referring to Obama eliminating $716B from the Medicare program by: STRIPPING AWAY WASTE! Cutting excessive payments to hospitals for poor results, cutting payments to insurance companies, etc.
You see if you get the same benefits or more benefits but the cost has been reduced, that is not a reduction in the benefits that the program provides, it is a reduction in cost. That is a good thing, isn't it??????
btw; Paul Ryan was smart enough to do the same thing in his budget proposal. I got it; Obama= bad; Ryan=good.
Please read before you vote. Really don't listen, read about the specific proposals and what the outcome will be. The Congressional Budget office provides a lot of handy facts.
What's Debt Got To Do With It? A Lot [View article]
Welcome to the party where the Obama/Democrat haters blame government waste and the progressive, evil tax system on him. You know, he is not one of "us". He is a Muslim, Marxist, communist, European, hates America, hates business, loves welfare, taking over America with his Czars, unworthy lightweight, not U.S. born, unintelligent, uneducated, soviet plant that has a secret agenda to take over America by destroying it from within.
Really: they still ask: have you seen his birth certificate, proof of college degree? It is so sad.
Information and common sense does not work with the haters.
What's Debt Got To Do With It? A Lot [View article]
There is no sense in plowing perfectly good money into saving old people by providing health insurance; much less, nursing homes, food, shelter. Got it.
That is where the real money is. But, bigots don't care much for "welfare queens, indigent people, disabled people (unless they are known before birth whereby Republican/bigots love all of "god's children but once born they are leeches) they love people like Romney that only pay 15% of their income in taxes, or the Waltons that inherited money and have more wealth than the bottom 40% of the country, that's seven offspring.
Iron, I really hope you are one of the 1% because if you vote for the R's you're fixin' to get a tax increase and they will get a massive tax decrease. That logic confounds me, I guess I think too much.
What's Debt Got To Do With It? A Lot [View article]
It is you that needs to do some reading. Here, I will make it easy for you:
"In August 2010, the Congressional Budget Office (CBO) estimated that extending the tax cuts for the 2011-2020 time period would add $3.3 trillion to the national debt, comprising $2.65 trillion in foregone tax revenue plus another $0.66 trillion for interest and debt service costs.[29]
The non-partisan Pew Charitable Trusts estimated in May 2010 that extending some or all of the tax cuts would have the following impact under these scenarios:
Making the tax cuts permanent for all taxpayers, regardless of income, would increase the national debt $3.3 trillion over the next 10 years.
Limiting the extension to individuals making less than $200,000 and married couples earning less than $250,000 would increase the debt about $2.2 trillion in the next decade.
Extending the tax cuts for all taxpayers for only two years would cost $561 billion over the next 10 years.[30]"
Special tax breaks are called spending in budget decisions. It is hardly astounding that as GDP grows tax receipts would grow too. However, tax receipt would grow faster with higher rates unless the rates were so high that they would stifle growth. Four percent will not stifle anything, unfortunately not even the whiners.
Outlook For Equities: Time To Take The Foot Off The Accelerator [View article]
2 wars- 100% president's decision and power to implement under Republican congress' fiscal authorization.
Medicare part D: enacted in 2006: side note:
"By the design of the program, the federal government is not permitted to negotiate prices of drugs with the drug companies, as federal agencies do in other programs. The Department of Veterans Affairs, which is allowed to negotiate drug prices and establish a formulary, has been estimated to pay between 40%[26] and 58%[27] less for drugs, on average, than Medicare Part D. For example, the VA pays as little as $782.44 for a year's supply of Lipitor (atorvastatin) 20 mg, while the Medicare pays between $1120 and $1340 on Part D plans.[2
"Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group. Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
Bush Tax cut 1: Tax Relief and Reconciliation act 2001
Bush Tax cut 2: Jobs and Growth reconciliation and relief act of 2003
Please note that the the congress was controlled by the Republicans for 6 years and Bush vetoed only 1 bill before 2007; the lowest in 200 years.
YOU: "the democrates were busy pandering to constituencies with our money and the results are in."
"Medicare boss Thomas Scully, who threatened to fire Medicare Chief Actuary Richard Foster if he reported how much the bill would actually cost, was negotiating for a new job as a pharmaceutical lobbyist as the bill was working through Congress.[28][29] A total of 14 congressional aides quit their jobs to work for the drug and medical lobbies immediately after the bill's passage."
Also: Please REREAD: "Former Congressman Billy Tauzin, R-La., who steered the bill through the House, retired soon after and took a $2 million a year job as president of Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry lobbying group."
Do you notice a Republican corruption pattern? Republicans are not the only one's corrupt but we are talking about the Bush era.
Are you misinformed, uneducated or a Republican sycophant?