Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Saturday, August 23, 2014

Are You Ready For Some Obamacare?


As the NFL season gets ready to descend upon us, I can almost hear the yelp of "Are you ready for some football?"  Unfortunately for the White House and Democrats on the campaign trail though, they should be worried about Obamacare and based on their silence on the issue I am guessing they are.  So are you ready for Obamacare...because it is about to get fun?

(1) You realize that premiums, which have already started going north, are headed for big bumps in 2015.  You get to see them come September 1 when open enrollments begin for folks.  Part of the original political plan to re-elect the President in 2012 was to have all the Obamacare goodies show up early and delay the pain, but the pain starts this year and keeps getting good through 2018 when Cadillac healthcare plans start getting taxed.  Hard.

According to Price-Waterhouse-Coopers, Arkansas, Iowa, North Carolina, Tennessee, and Virginia are all on pace for premium increases between ten and fifteen percent.  Louisiana may be on pace for twenty percent hikes.  I am guessing these will not be good tidings for US Senate candidates in Arkansas, Iowa, or North Carolina.

Premiums will likely go up even further given many of the participants who signed up for coverage, are not paying for it.  The system does not work when healthy young people do not sign up and pay for their coverage.  Maybe they are figuring out that Mr. Obama sold the proverbial pipe dream.

(2) From a practical perspective, not that Mr. Obama is Mr. Practical, he just doesn't get it.  Mr. Obama likes to blame President Bush for a number of issues, but does nothing to correct them.  The economy was bad when Obama was first inaugurated, but he has had the opportunity to correct that.  Instead he has gone out of his way with legislation like Obamacare to discourage employers from employing people.  If you want an improving economy, you do that by helping people get jobs that match their skill set, not by raising the cost of job creation which is exactly what Obamacare does.


(3)  Obamacare supporters keep crying every time a court strikes down requirements that do not allow conscience objections when people who do not want to pay for abortion are forced to...there seems to be no connection between the idea that if you want me out of your body, don't ask me to pay for your body.

In the meantime, Mr. Obama and Company have shown that they have zero understanding that we elected him President, not Emperor, and because of that have zero interest in paying for others' abortions, limiting the size of our sodas, or his wife's inability to allow school bake sales.  Obamacare is one more example of an administration run amok gleeful with its own happy juice of how great they are.

(4) The constitutional law professor we elected should be in for an interesting Supreme Court term, if not this year, then next, as the question of state exchanges gets worked out.  The fact is you had to pass the bill to see what was in it as then Speaker Nancy Pelosi famously quipped.  Unfortunately, the bill was passed and then created by a group of teenagers apparently who either did not understand combinations of equal protection laws, the implications to the tax code, or how healthcare really works.

(5) Finally, returning to Mr. Obama's practicality issue - he missed the boat on keeping your doctor.  You will remember his famous promise that if you like your doctor, you can keep your doctor.  Meanwhile, because of Obamacare regulations, networks have not gotten bigger, but smaller.  In New Hampshire, Anthem Blue Cross Blue Shield, the only participant in the marketplace gutted ten of the state's twenty-six hospitals from its coverage.  Two in five of you are probably out of luck when it comes to local care if you live in New Hampshire.

So as football season starts, so does the political football season.  This one should be pretty rough and tumble, but on this one, the Xs and Os were designed by the President so while we as a nation lose it is because of the game plan designed by the coach.

Anthem Blue Cross and Blue Shield
hat ever happened to Obamacare -- the unpopular healthcare bill that was to be the Republicans big weapon as they battled for control of the Senate this fall?   For sure, the Affordable Care Act has been pushed to the sidelines by the chaos in Iraq, Russia’s invasion of Ukraine, the surge in Central American minors across our border, the Veterans Administration scandal, the pestilential virus rampaging across the computers of the federal government, and so much more…
Now, the GOP should circle back. There are nine Senate seats described as “toss-ups” by Real Clear Politics, and Obamacare could move the needle in some of those races. The ACA is still a political stink bomb, with Kaiser Family Foundation polling showing only 37 percent of the country views the law favorably – one of its lowest ratings since it passed in 2010.  Some 53 percent of Americans have an unfavorable opinion of the ACA - up a shocking 8 points since June.
Related: Insurers Say Obama’s ‘Fix’ Is Driving Up Premiums
Democrats understandably have neglected to highlight Obamacare on their campaign sites. Instead, for example, North Carolina’s Kay Hagan implores visitors to “Take a Stand Against the Koch Brothers,” which must confuse the uninitiated. Bruce Braley, running in Iowa, focuses on veterans’ issues and the farm bill. Nary a word on Mr. Obama’s legacy issue.
IG: Obamacare’s Medical Device Tax Not Bringing In...
According to a federal report issued Tuesday, Obamacare’s controversial medical device tax isn’t bringing in nearly as much cash as expected. The Treasury inspector general for tax administration found that the...
Several GOP campaign sites go light on Obamacare too. Thom Tillis in North Carolina broadcasts Kay Hagan’s close ties to President Obama, while David Perdue in Georgia emphasizes his business background. Joni Ernst, running neck in neck for the Iowa seat, brags on her front page, “I grew up castrating hogs on an Iowa farm, so in Washington I’ll know how to cut pork.” Some local color.
Other Republicans are following the expected playbook. Scott Brown, campaigning for the New Hampshire seat held by Jeanne Shaheen, goes all in against Obamacare. Ditto Republican Cory Gardner, running an uphill battle against Mark Udall in Colorado, who notes that 335,000 Coloradans lost their policies because of the ACA.
Bill Cassidy, with a light lead against Mary Landrieu in Louisiana, charges that Obamacare is causing that state’s premiums to rise. But Cassidy lists it fifth of five issues, after amnesty, purportedly “illegal” travel expenditures and other missteps by the incumbent.
While local issues vary, Republicans should double down, and remind voters how much they dislike the ACA. Why?
Related: So Far, Obamacare’s Hospital Reform Isn’t Working
1. Big premium hikes are slated for 2015. Because the country erupted in outrage over the millions of policies cancelled under Obamacare, which made a lie of the president’s vow, “If you like your insurance you can keep it,” the White House reversed course and allowed people to maintain existing coverage. As a result, the Obamacare exchanges were starved of the healthier people needed to pay for the sick and poor previously without insurance. Insurers are now planning to raise premiums.
According to PwC Health Research Institute, the average premium increase request for 2105 in North Carolina is 10.8 percent; in Iowa the hike is 11.5 percent. Many in Louisiana are looking at almost a 20 percent increase, and in Arkansas nearly 12 percent. That’s big, unpleasant news for Democrats.
2. Critics claim the Obama administration is fudging the ACA enrollment numbers. The White House trumpeted that 8 million Americans had signed up for Obamacare, but that total has been shrinking. Aetna, one of the program’s biggest players, reports that of their 720,000 enrollees, only about 600,000 are paying for their coverage, a number they expect will drop to about 500,000 by year-end. Other insurers indicate fall-off as well.
3. People are angry about the narrower choices of doctors and hospitals available to them.  In New Hampshire, Anthem Blue Cross and Blue Shield was the sole insurer participating in the marketplace; it eliminated 10 of the state’s 26 hospitals from its network. According to Politico, such is the uproar about shrinking choices that “since the beginning of 2013, more than 70 bills have been introduced in 22 states to clarify the network rules, according to the National Conference of State Legislatures.” In California, more than one group has sued Anthem Blue Cross, charging that the insurer misrepresented the scope of its doctor network.
Related: Up to 300,000 Could Lose Obamacare on Federal Exchange
4. The ACA was constructed incompetently. The U.S. Court of Appeals for the D.C. Circuit recently ruled illegal the federal subsidies paid to Obamacare enrollees in states that have not set up their own exchanges -- a stark reminder of how badly the healthcare bill was implemented. This and other unintended consequences are excellent arguments for significantly overhauling the ACA – an undertaking that might be possible under a Republican Senate but that has little or no hope otherwise.
5. Obamacare highlights the president’s imperial tendencies. Mr. Obama has single-handedly changed the ACA some 24 times, delaying important provisions such as the employer and individual mandates. The president has rigged the rollout of the ACA to political advantage, putting off the most painful aspects of the bill and front-loading the goodies. Republicans should remind voters we have yet to encounter, for instance, the 40 percent Cadillac tax, which has been pushed back until 2018, but which is expected to raise as much as $214 billion by 2023.
6. Obamacare undermines job creation. The ACA has been the most important of a number of White House policies that have discouraged job creation at a time when the country is struggling to put people back to work. At last tally, there were 92 million adult Americans who are not working (like stay-at-home moms), are unemployed, retired or disabled. The workforce participation rate is at a decades-long low. This is unsustainable, and Obamacare is not helping. Companies have limited their hiring and also the number of hours their employers work because of the bill and have faced increased uncertainty. Meanwhile, because of the ACA, Americans no longer need to work to get health benefits – maybe a good thing for individuals, but not for a country whose safety net must be funded by an ever-greater workforce.
In short, there’s still meat on the bones of the Obamacare carcass; Republicans running for office should get out their knives and forks.
- See more at: http://www.thefiscaltimes.com/Columns/2014/08/20/6-Reasons-Obamacare-Can-Win-Senate-GOP#sthash.9It4kWMD.dpuf
at ever happened to Obamacare -- the unpopular healthcare bill that was to be the Republicans big weapon as they battled for control of the Senate this fall?   For sure, the Affordable Care Act has been pushed to the sidelines by the chaos in Iraq, Russia’s invasion of Ukraine, the surge in Central American minors across our border, the Veterans Administration scandal, the pestilential virus rampaging across the computers of the federal government, and so much more…
Now, the GOP should circle back. There are nine Senate seats described as “toss-ups” by Real Clear Politics, and Obamacare could move the needle in some of those races. The ACA is still a political stink bomb, with Kaiser Family Foundation polling showing only 37 percent of the country views the law favorably – one of its lowest ratings since it passed in 2010.  Some 53 percent of Americans have an unfavorable opinion of the ACA - up a shocking 8 points since June.
Related: Insurers Say Obama’s ‘Fix’ Is Driving Up Premiums
Democrats understandably have neglected to highlight Obamacare on their campaign sites. Instead, for example, North Carolina’s Kay Hagan implores visitors to “Take a Stand Against the Koch Brothers,” which must confuse the uninitiated. Bruce Braley, running in Iowa, focuses on veterans’ issues and the farm bill. Nary a word on Mr. Obama’s legacy issue.
IG: Obamacare’s Medical Device Tax Not Bringing In...
According to a federal report issued Tuesday, Obamacare’s controversial medical device tax isn’t bringing in nearly as much cash as expected. The Treasury inspector general for tax administration found that the...
Several GOP campaign sites go light on Obamacare too. Thom Tillis in North Carolina broadcasts Kay Hagan’s close ties to President Obama, while David Perdue in Georgia emphasizes his business background. Joni Ernst, running neck in neck for the Iowa seat, brags on her front page, “I grew up castrating hogs on an Iowa farm, so in Washington I’ll know how to cut pork.” Some local color.
Other Republicans are following the expected playbook. Scott Brown, campaigning for the New Hampshire seat held by Jeanne Shaheen, goes all in against Obamacare. Ditto Republican Cory Gardner, running an uphill battle against Mark Udall in Colorado, who notes that 335,000 Coloradans lost their policies because of the ACA.
Bill Cassidy, with a light lead against Mary Landrieu in Louisiana, charges that Obamacare is causing that state’s premiums to rise. But Cassidy lists it fifth of five issues, after amnesty, purportedly “illegal” travel expenditures and other missteps by the incumbent.
While local issues vary, Republicans should double down, and remind voters how much they dislike the ACA. Why?
Related: So Far, Obamacare’s Hospital Reform Isn’t Working
1. Big premium hikes are slated for 2015. Because the country erupted in outrage over the millions of policies cancelled under Obamacare, which made a lie of the president’s vow, “If you like your insurance you can keep it,” the White House reversed course and allowed people to maintain existing coverage. As a result, the Obamacare exchanges were starved of the healthier people needed to pay for the sick and poor previously without insurance. Insurers are now planning to raise premiums.
According to PwC Health Research Institute, the average premium increase request for 2105 in North Carolina is 10.8 percent; in Iowa the hike is 11.5 percent. Many in Louisiana are looking at almost a 20 percent increase, and in Arkansas nearly 12 percent. That’s big, unpleasant news for Democrats.
2. Critics claim the Obama administration is fudging the ACA enrollment numbers. The White House trumpeted that 8 million Americans had signed up for Obamacare, but that total has been shrinking. Aetna, one of the program’s biggest players, reports that of their 720,000 enrollees, only about 600,000 are paying for their coverage, a number they expect will drop to about 500,000 by year-end. Other insurers indicate fall-off as well.
3. People are angry about the narrower choices of doctors and hospitals available to them.  In New Hampshire, Anthem Blue Cross and Blue Shield was the sole insurer participating in the marketplace; it eliminated 10 of the state’s 26 hospitals from its network. According to Politico, such is the uproar about shrinking choices that “since the beginning of 2013, more than 70 bills have been introduced in 22 states to clarify the network rules, according to the National Conference of State Legislatures.” In California, more than one group has sued Anthem Blue Cross, charging that the insurer misrepresented the scope of its doctor network.
Related: Up to 300,000 Could Lose Obamacare on Federal Exchange
4. The ACA was constructed incompetently. The U.S. Court of Appeals for the D.C. Circuit recently ruled illegal the federal subsidies paid to Obamacare enrollees in states that have not set up their own exchanges -- a stark reminder of how badly the healthcare bill was implemented. This and other unintended consequences are excellent arguments for significantly overhauling the ACA – an undertaking that might be possible under a Republican Senate but that has little or no hope otherwise.
5. Obamacare highlights the president’s imperial tendencies. Mr. Obama has single-handedly changed the ACA some 24 times, delaying important provisions such as the employer and individual mandates. The president has rigged the rollout of the ACA to political advantage, putting off the most painful aspects of the bill and front-loading the goodies. Republicans should remind voters we have yet to encounter, for instance, the 40 percent Cadillac tax, which has been pushed back until 2018, but which is expected to raise as much as $214 billion by 2023.
6. Obamacare undermines job creation. The ACA has been the most important of a number of White House policies that have discouraged job creation at a time when the country is struggling to put people back to work. At last tally, there were 92 million adult Americans who are not working (like stay-at-home moms), are unemployed, retired or disabled. The workforce participation rate is at a decades-long low. This is unsustainable, and Obamacare is not helping. Companies have limited their hiring and also the number of hours their employers work because of the bill and have faced increased uncertainty. Meanwhile, because of the ACA, Americans no longer need to work to get health benefits – maybe a good thing for individuals, but not for a country whose safety net must be funded by an ever-greater workforce.
In short, there’s still meat on the bones of the Obamacare carcass; Republicans running for office should get out their knives and forks.
- See more at: http://www.thefiscaltimes.com/Columns/2014/08/20/6-Reasons-Obamacare-Can-Win-Senate-GOP#sthash.9It4kWMD.dpuf, N




at ever happened to Obamacare -- the unpopular healthcare bill that was to be the Republicans big weapon as they battled for control of the Senate this fall?   For sure, the Affordable Care Act has been pushed to the sidelines by the chaos in Iraq, Russia’s invasion of Ukraine, the surge in Central American minors across our border, the Veterans Administration scandal, the pestilential virus rampaging across the computers of the federal government, and so much more…
Now, the GOP should circle back. There are nine Senate seats described as “toss-ups” by Real Clear Politics, and Obamacare could move the needle in some of those races. The ACA is still a political stink bomb, with Kaiser Family Foundation polling showing only 37 percent of the country views the law favorably – one of its lowest ratings since it passed in 2010.  Some 53 percent of Americans have an unfavorable opinion of the ACA - up a shocking 8 points since June.
Related: Insurers Say Obama’s ‘Fix’ Is Driving Up Premiums
Democrats understandably have neglected to highlight Obamacare on their campaign sites. Instead, for example, North Carolina’s Kay Hagan implores visitors to “Take a Stand Against the Koch Brothers,” which must confuse the uninitiated. Bruce Braley, running in Iowa, focuses on veterans’ issues and the farm bill. Nary a word on Mr. Obama’s legacy issue.
IG: Obamacare’s Medical Device Tax Not Bringing In...
According to a federal report issued Tuesday, Obamacare’s controversial medical device tax isn’t bringing in nearly as much cash as expected. The Treasury inspector general for tax administration found that the...
Several GOP campaign sites go light on Obamacare too. Thom Tillis in North Carolina broadcasts Kay Hagan’s close ties to President Obama, while David Perdue in Georgia emphasizes his business background. Joni Ernst, running neck in neck for the Iowa seat, brags on her front page, “I grew up castrating hogs on an Iowa farm, so in Washington I’ll know how to cut pork.” Some local color.
Other Republicans are following the expected playbook. Scott Brown, campaigning for the New Hampshire seat held by Jeanne Shaheen, goes all in against Obamacare. Ditto Republican Cory Gardner, running an uphill battle against Mark Udall in Colorado, who notes that 335,000 Coloradans lost their policies because of the ACA.
Bill Cassidy, with a light lead against Mary Landrieu in Louisiana, charges that Obamacare is causing that state’s premiums to rise. But Cassidy lists it fifth of five issues, after amnesty, purportedly “illegal” travel expenditures and other missteps by the incumbent.
While local issues vary, Republicans should double down, and remind voters how much they dislike the ACA. Why?
Related: So Far, Obamacare’s Hospital Reform Isn’t Working
1. Big premium hikes are slated for 2015. Because the country erupted in outrage over the millions of policies cancelled under Obamacare, which made a lie of the president’s vow, “If you like your insurance you can keep it,” the White House reversed course and allowed people to maintain existing coverage. As a result, the Obamacare exchanges were starved of the healthier people needed to pay for the sick and poor previously without insurance. Insurers are now planning to raise premiums.
According to PwC Health Research Institute, the average premium increase request for 2105 in North Carolina is 10.8 percent; in Iowa the hike is 11.5 percent. Many in Louisiana are looking at almost a 20 percent increase, and in Arkansas nearly 12 percent. That’s big, unpleasant news for Democrats.
2. Critics claim the Obama administration is fudging the ACA enrollment numbers. The White House trumpeted that 8 million Americans had signed up for Obamacare, but that total has been shrinking. Aetna, one of the program’s biggest players, reports that of their 720,000 enrollees, only about 600,000 are paying for their coverage, a number they expect will drop to about 500,000 by year-end. Other insurers indicate fall-off as well.
3. People are angry about the narrower choices of doctors and hospitals available to them.  In New Hampshire, Anthem Blue Cross and Blue Shield was the sole insurer participating in the marketplace; it eliminated 10 of the state’s 26 hospitals from its network. According to Politico, such is the uproar about shrinking choices that “since the beginning of 2013, more than 70 bills have been introduced in 22 states to clarify the network rules, according to the National Conference of State Legislatures.” In California, more than one group has sued Anthem Blue Cross, charging that the insurer misrepresented the scope of its doctor network.
Related: Up to 300,000 Could Lose Obamacare on Federal Exchange
4. The ACA was constructed incompetently. The U.S. Court of Appeals for the D.C. Circuit recently ruled illegal the federal subsidies paid to Obamacare enrollees in states that have not set up their own exchanges -- a stark reminder of how badly the healthcare bill was implemented. This and other unintended consequences are excellent arguments for significantly overhauling the ACA – an undertaking that might be possible under a Republican Senate but that has little or no hope otherwise.
5. Obamacare highlights the president’s imperial tendencies. Mr. Obama has single-handedly changed the ACA some 24 times, delaying important provisions such as the employer and individual mandates. The president has rigged the rollout of the ACA to political advantage, putting off the most painful aspects of the bill and front-loading the goodies. Republicans should remind voters we have yet to encounter, for instance, the 40 percent Cadillac tax, which has been pushed back until 2018, but which is expected to raise as much as $214 billion by 2023.
6. Obamacare undermines job creation. The ACA has been the most important of a number of White House policies that have discouraged job creation at a time when the country is struggling to put people back to work. At last tally, there were 92 million adult Americans who are not working (like stay-at-home moms), are unemployed, retired or disabled. The workforce participation rate is at a decades-long low. This is unsustainable, and Obamacare is not helping. Companies have limited their hiring and also the number of hours their employers work because of the bill and have faced increased uncertainty. Meanwhile, because of the ACA, Americans no longer need to work to get health benefits – maybe a good thing for individuals, but not for a country whose safety net must be funded by an ever-greater workforce.
In short, there’s still meat on the bones of the Obamacare carcass; Republicans running for office should get out their knives and forks.
- See more at: http://www.thefiscaltimes.com/Columns/2014/08/20/6-Reasons-Obamacare-Can-Win-Senate-GOP#sthash.9It4kWMD.dp



Wednesday, May 21, 2014

National Financial League


Good news NFL fans.  Your league is about to further dilute the playoffs by adding another wild card team.

No, thankfully it will not happen this year, but according to sources, 2015 looks like it will be the year when we have seven playoff teams in conferences with only sixteen teams.  Maybe they should just allow every team with a .500 record in...that would add to the playoffs, right?

And the question as to what competitive advantage this will provide?

Well none.  They aren't adding a team for competitive advantage.  When asked why do this, the first answer back was because it added revenue to the league.  The league already rakes in $9B per year, but the owners want more.  That part isn't surprising.  What is surprising is they did not have the good sense to at least lie to us and argue for some competitive issue.

Of course, they can;t do that.  The league is all about dollars and cents and could care less about your pocketbook or player injuries.  The league continues to send Super Bowls to cities that fleece their local taxpayers and continues to fight issues of hiding concussion/brain injury data from players and now has a new scandal dealing with force feeding pain killers to its players.

It is too bad the NFL can;t fess up and become a game again.



Tuesday, May 20, 2014

Do You Hear The Cheers?


I wrote about this just over two months ago when problems were first reported, but I wonder if the Allen ISD School Board and voters are hearing the cheers?  I might be thinking of how Nefertiti hardened the heart of Pharaoh by asking if he heard the applause after Moses had freed the Israeli slaves.  Perhaps I should not harden the hearts of Allen voters who might vote to rebuild and create an even bigger monstrosity, but you have to continue to wonder what goes through people's minds when they approve a $60M football stadium.

It has become official that Allen ISD will need to find a new stadium the coming football season and will not be playing in their own stadium two years after construction.  Two years!

Again, I bring up the idea that couldn't that money have been more usefully spent....on science and lab equipment?  Information technology upgrades?  Almost anything?

Well, the voters of Allen disagreed and they bought a $60M joke.  Yes, you have a 5A State Championship football team.  Too bad you don't have 5A state championship architects and builders who put children's safety before dollars and cents.



Thursday, March 13, 2014

Crack's In Allen's Jerry World


I am guessing someone has already mentioned Allen ISD's money going down a sinkhole, right?

I mean how else do you explain spending $60M on a high school football stadium that two years later may have to be demolished due to structural problems with the foundation.

I wish I were joking, but instead of teaching kids how to handle a budget, or build relationships, or hiring qualified energetic teachers or even giving high performing teachers some sort of bonus, Allen ISD was busy building a monument to itself.

Are we surprised it is coming crashing down?

Okay, literally it is not crashing down, but it may need a partial tear down.  Two years later?  Wow.

Already firms are lining up to say they are covered by insurance, but aren't there bigger issues here, like do we need to spend THAT much on a stadium in the first place, and two, if for whatever reason we think that is the right investment of limited education dollars, it ought to be done right...say, the first time?

For me, this is another sign of the same hubris that brought us Jerry World in Arlington.  It is oh so easy to spend other people's money to build a billion dollar stadium, but oh so hard, to actually get a contender.  This is Allen's Tower of Babel and no one should be surprised when everyone starts speaking in tongues blaming someone else.




Sunday, February 16, 2014

Options


This morning driving to work I enjoyed the public service radio hour and if you didn't catch my sarcasm, let me be clear, I was being sarcastic.

The show had an author on who was talking about how awful and impossible it was for Millenials to go to college and not end up with $30,000 in debt from either college loans or credit card loans.  IMPOSSIBLE he shrieked.  It is impossible for the average twenty something to get out of his chosen university without a mountain of debt: "you just can't have a life" without doing it.

Really?!?  The author purportedly had an MBA and had written a book on personal economics and he didn't understand that you do have a choice as to whether or not you sign up for that credit card offer or whether or not you work while you are in school?  Really?!?

The fact is lots of people are cutting up their credit cards, noting as Dave Ramsey would say that worshipping at the foot of FICO is not a good trade, that living credit card free makes tons more sense.  I get that not everyone likes Ramsey's "for profit" model of personal financial advice, but to a certain extent his advice is very sound.

Can you get by at a local junior college doing basics before going off to university for a degree?  How about working while you are in school?  I realize that both of these have social implications, but of all the people I went to high school with back in the day, I am still friends with...none of them.  Most of them I can barely remember.  I have a few friends who were a few years older or who I knew before  went to high school, but by and large, who cares if I went to the cool university with them or not.

My career has not been negatively impacted by my decision to get basics done at junior college.

Sorry for the rant, it just bothers me that someone with an economics background would argue there is no choice.  Personal economics is all about choice and choosing what is more important.  If status IS that important to you, guess what, you are going to be saddled with debt.

For me, I just bought a brand new 2004 Volkswagen about six months ago.  I know, brand new 2004 in 2014?  Well, it's brand new to me.  It gets great mileage, has been a breeze to maintain and I paid cash.  Cash for a car.  I don't shell out $350 (or more) in payments every month.  Instead I put that into my family.  Meanwhile, I know people paying nearly twice that on car mortgages whose value only goes down.  That is the definition of ludicrous.

Again, I apologize for the rant, but if you are college age or high school aged, you do have choices.  Another option is to skip school.  If your goal is to manage your local coffee chain...you probably don't need an Ivy league education in art history.  You might try your local library though as a starting point.  If you are planning on attending medical school, well, college isn't an option, but figure it out - or at least have an idea - before you shell out thousands of dollars per year for an education that might be that you didn't need to shell out thousands of dollars.


Wednesday, February 12, 2014

Retreat...Again


It is a little but funny hearing an internet commercial for John Cornyn talking about pushing back against President Obama, all the while I a have just read an article where he and Minority Leader Mitch McConnell seemed to be following Speaker Boehner's lead in capitulation to the administration.

The politics of this are just sad and they don't disarm the conservative wing - they just inflame them.

It is becoming increasingly clear that the GOP is the party of big business and has next to no interest in representing small business, individuals interested in liberty, and pay lip service to the issues of life.

The "leadership" of the Republican Party has devolved into management and runs things via fear.  They try to whip their respective membership into votes that are bad - remember Medicare, Part D - and run in fear rather than on hope.

With the recent capitulation where the GOP has chosen to pass a clean debt increase, the Congress of these United States has basically said, spend whatever you like and we will approve it.  My Visa card limit doesn't go up when I have trouble making payments, which is what was forecast when the credit ratings agencies lowered our AAA credit rating.

While things may be all fun and games between President Obama and Senator McConnell, I hope the voters of Kentucky realize what he is doing and kick him out once the primary occurs.


 




Saturday, January 25, 2014

Bankrupt Before He Got Paid?

How in the world does it come to this?  A few years ago, Vince Young signed a contract coming out of college as the third overall pick in the NFL draft and received guaranteed money of $26 million.  MILLION, not $26,000, million.  He just declared bankruptcy.

How does someone spend that kind of money?

According to one report, in at least once case, he spent $6000 at a TGI Fridays.  Why?  Let me help you out Vince, the food and flair aren't even that good.

Other accounts have him spending $5000 a week at The Cheesecake Factory.  You want to guess what my annual budget is for dining out?  You're not too far from that number, but I have a family of six.

The point of this rant is in a few months we will have another group of guys coming out of college, ready to take on opposing linebackers (or quarterbacks), but who are more interested in showing their manhood, than in their mental toughness.

In a recent radio report I heard, the reason why Josh Brent did not use the NFL's car service to get home was a source of pride.  He wanted to show he could handle his liquor.  Bad news Josh, you are human and like everyone else, the liquor handled you.  Especially when you consider toxicology reports indicate you probably had the equivalent of seventeen drinks that night.

What is sad is not the bankruptcy itself.  Lots of people have financial issues, but perhaps the issue is society's bankrupt nature: where we judge people by what they have instead of what they give.  Maybe, Mr. Young was bankrupt before he ever got paid?  Either way it is a sad end to what should have been a positive story.