Archive for December 17th, 2011
Senator Ron Wyden has decided to support a private option from Medicare. The problem with this is that private companies provide medical insurance and medical care less efficiently than the government. So why does Wyden support this? Obviously, he a legislative whore of Wall Street and the insurance industry. Apparently, the senator doesn’t mind see a inefficient private option for Medicare, but not a more efficient public option for the private sector. See why Nobel Prize winning economist and New York Times Columnist Paul Krugman calls Wyden, Wall Street’s Legislative Whore from Oregon, a “Useful Idiot.”
WASHINGTON (AP) — Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.
The latest census data depict a middle class that’s shrinking as unemployment stays high and the government’s safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.
“Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too ‘rich’ to qualify,” said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.