The Democrats have made the claim that the AMA, doctors and nurses all support the Obama plan for health care reform. But if a new IBD/TIPP poll is to believed, it is possible a large number of doctors would leave their practice if the present version of health care reform was passed:
Two of every three practicing physicians oppose the medical overhaul plan under consideration in Washington, and hundreds of thousands would think about shutting down their practices or retiring early if it were adopted, a new IBD/TIPP Poll has found.
And, like most Americans, a majority of doctors polled found the administration claims to be unbelievable:
72% of the doctors polled disagree with the administration’s claim that the government can cover 47 million more people with better-quality care at lower cost.
Two-thirds, or 65%, of doctors say they oppose the proposed government expansion plan. This contradicts the administration’s claims that doctors are part of an “unprecedented coalition” supporting a medical overhaul.
Another fact that should be taken into consideration when the administration claims that the AMA supports their plan, presently the AMA only represents 18% of American physicians.
Four of nine doctors, or 45%, said they “would consider leaving their practice or taking an early retirement” if Congress passes the plan the Democratic majority and White House have in mind.
In 2006, there were 800,000 doctors practicing in the US. A 45% reduction would leave 440,000 doctors to treat the present insured population plus the 40 million more the administration plans to add.
I’ll leave it to you to do the math, but if you can figure out how fewer physicians and more patients equals less cost, better care and no changes in the health care you enjoy today, I’d be interested to hear it.
If the answer is “rationing care”, I believe we’ve been saying that for quite some time, haven’t we?
You would think the Democrats would learn, but that seems to be something to which they’re immune. I’ve come to believe that overreaching is in their DNA.
As you know, they’ve tried everything they know to do to capitalize on the fact that Joe Wilson yelled “you lie” at Barack Obama during his speech before Congress last week. It was inappropriate. Everyone agrees. Wilson said so in his apology to President Obama. President Obama graciously accepted his apology.
End of story?
Of course not. The 5th graders who inhabit our Congress (and that’s true of both sides, but in this case it is decidedly about the Democrats) have decided that isn’t enough. So they’re now embroiled in a fight to pass a “resolution of disapproval” in the House because Wilson is of the opinion the apology he issued immediately after the event to the president was sufficient and he’s not about to repeat it on the floor of the House.
Not good enough, the Dems say. And to add fuel to the fire, we get this dopey statement from Georgia’s own Hank Johnson, who I once thought was a fairly sane replacement for Cynthia McKinney:
Rep. Joe Wilson’s outburst last week is drawing new recriminations from his colleagues, with a member of the Congressional Black Caucus suggesting that a failure to rebuke Wilson is tantamount to supporting the most blatant form of organized racism in American history.
In an obvious reference to the KKK, Rep. Hank Johnson, D-Ga., said Tuesday that people will put on “white hoods and ride through the countryside” if emerging racist attitudes, which he says were subtly supported by Wilson, are not rebuked. He said Wilson must be disciplined as an example.
Ride through the countryside with white hoods? Good lord. The race card is again played – and badly.
Maybe it’s the water in the district, but he’s sounds as batty as McKinney right now. “White hoods” indeed.
While the rest of the nation ponders whether Kanye West is a “jackass” and President Obama was correct in calling him that, I’ve been thinking about why the Democrats and Obama are having such a tough time selling their health care proposals.
Obviously part of the push back by the people has been because of the recession. Common sense says you don’t exacerbate a bad financial situation by adding debt. Nothing anyone has claimed about the “health care savings” reform would bring has resonated with the public. That’s because people don’t believe or trust the rosy estimates that Democrats have used. And of course it hasn’t helped that the CBO has shot down just about every one of their claims as well.
In fact it looks a lot like 1993 all over again according to an ABC/Washington Post poll released today:
Sixteen percent of the respondents to the most recent poll say their health care would improve if the proposed changes are enacted, and 32 percent say their health care will be worse if that happens.
By comparison, the same poll in late September of 1993 found 19 percent saying their health care would improve and 31 percent saying it would get worse.
Even deploying Obama to use his vaunted oratorical skills to turn the tide hasn’t worked according to another poll:
A USA TODAY/Gallup Poll taken after the president’s dramatic address to a joint session of Congress last week shows Americans almost evenly divided over passing a health care bill and inclined to think it would make some of the system’s vexing problems worse, not better.
Six in 10 say Obama’s proposal, if enacted, would not achieve his goals of expanding coverage to nearly all Americans without raising taxes on the middle class or lowering the quality of health care. For the first time, a majority disapprove of the way he’s handling health care policy.
So what’s the problem? Why does public opinion seem so dead set against what Democrats feel is beneficial legislation for all?
Well, what Obama and the Democrats are running up against is the same problem Bill Clinton et. al experienced. People, for the most part, are quite satisfied with the insurance they have and don’t want to chance government messing that up. And they understand that the chance of government messing it up, given how government does most things, is very high.
Although polls have consistently shown that just over half of Americans think the health-care system is in need of reform, a substantial majority say they are satisfied with their own insurance and care. Any hope of change will require their support, according to experts and advocates across the ideological spectrum.
“They are critical,” said Drew E. Altman, president and chief executive of the Kaiser Family Foundation, a nonpartisan health research organization. “This debate will turn on people like this trying to answer the question ‘Will this benefit my family?’ “
Most are concluding it won’t benefit their family and, in fact, may end up being detrimental to them.
Democrats seem to be missing the point that while health care reform is popular, their version of health care reform isn’t. I guess health care reform somewhat resembles porn – the people will know it when they see it. But they’re not seeing it in the proposals the Democrats are offering right now – and that is why there’s this massive push back.
The majority of those opposed do not believe the claims that nothing will change pertaining to their health care. It simply doesn’t makes sense to them that the scope and goals of the change being discussed won’t effect their coverage.
One of President Obama’s biggest challenges this fall will be persuading seniors to accept his healthcare proposals. Many elderly voters are deeply worried about “Obama-care” because they fear that his plans will reduce their coverage and increase their costs. Seniors, in fact, are more opposed to Obama’s healthcare ideas than any other age group.
Of course the irony, as pointed out any number of times, is that most seniors are on a government program. Rarely pointed out is the fact that they have no choice in the matter. Consequently those who love to point this out and crow about how seniors “like” their government insurance never follow that up with the fact that seniors are forced into a system which may or may not have been their first choice.
But that aside, seniors don’t like change. And, they’re smart people who understand that they are the demographic that spends the most on health care. Given that understanding, when the goal of “cutting costs” is put forward as a primary goal of the reform being discussed, they know where those cuts are most likely to be made.
But they have developed a deep skepticism toward Obama’s agenda of expanding the reach and power of Washington. They basically agree with the conservative attack that he is a liberal zealot who wants to inject the government into every nook and cranny of American life—including everyday decisions about the choice of doctors and medical plans, pollsters say. Some seniors specifically fear that the healthcare overhaul will take money away from their cherished Medicare program, and they don’t want to take that risk.
Only 35 percent of people 65 and older approve of Obama’s handling of healthcare, according to a Washington Post/ABC News poll in August …
Their defense of a government medical insurance program for themselves and their skepticism of further government intrusion into our lives isn’t quite as contradictory (or ironic) once you understand the whys and wherefores of the mandatory nature of Medicare. Seniors aren’t interested in more government or the chance that the only insurance available to them will be cut to meet a savings goal.
Those are how the planets are lining up in the health care reform universe. Obama and the Dems aren’t succeeding in convincing the skeptics with their arguments. In fact, as it drags on, more skeptics are being born than believers.
The answer, devoid of politics, seems clear. Stop the process right now, reset the debate and actually have one. Find out what “reform” means to the public and act on that consensus. It may end up merely insuring those without insurance. It may be that and tort reform plus opening up the intra-state private insurance markets and eliminating mandates. Or more. Or less. But what should be clear to both the Democrats and Obama at this point is it is not what they’re offering.
The danger to them (electorally) and to us (reduction of liberty) is they’ll disregard that in the name of politics and ram through something we’ll all regret but find difficult get rid of once passed.
That’s what I fear and it appears that’s what some on the left are prepared to do. They have waited too long and have too much invested politically to back off now.
You may remember that in my last post about ACORN (about the Census Bureau ending its relations ship with ACORN) I ended it calling for a complete defunding of ACORN. I’m pleased to announce that the Senate has heard me.
OK, I know better, but I’ve always wanted to say something like that – there, I’ve got it out of my system. If they won’t listen to a town full of tea partiers, I doubt they’re listening to me.
My guess is the third pimp sting in NYC did ACORN in. It becomes much harder to claim the people telling the faux pimp and prostitute how to scam the loan industry and the IRS weren’t trained to do so when they’re the third group to do it.
The Senate voted Monday to block the Housing and Urban Development Department from giving grants to ACORN, a community organization under fire in several voter-registration fraud cases.
The 83-7 vote would deny housing and community grant funding to ACORN, which stands for the Association of Community Organizations for Reform Now.
The action came as the group is suffering from bad publicity after a duo of conservative activists posing as a prostitute and her pimp released hidden-camera videos in which ACORN employees in Baltimore gave advice on house-buying and how to account on tax forms for the woman’s income. Two other videos, aired frequently on media outlets such as the Fox News Channel, depict similar situations in ACORN offices in Brooklyn and Washington, D.C.
The Senate’s move would mean that ACORN would not be able to win HUD grants for programs such as counseling low-income people on how to get mortgages and for fair housing education and outreach.
The 7 voting against were 6 Democrats and 1 Socialist:
* Dick Durbin (D-IL)
* Roland Burris (D-IL)
* Robert Casey (D-PA)
* Kirsten Gillibrand (D-NY)
* Patrick Leahy (D-VT)
* Bernie Sanders (I-VT)
* Sheldon Whitehouse (D-RI)
Apparently what ACORN has engaged in is all right with them.
I’m surprised, given the present atmosphere in DC that a real, honest to goodness bi-partisan vote could be made – but I guess the third video is a charm.
ACORN has sucked down 53 million tax payer dollars since 1994. My guess is they’ll dissolve ACORN, wait a few months and then reinvent themselves as some new group named after a nut. And as an aside, I have to wonder if the IRS will now review the tax forms submitted with ACORN as the preparer – with the advice they were handing out in Baltimore, DC and NYC there may be enough in back taxes and penalties to pay for all the uninsured and save ourselves from Obamacare. The silver lining in all of this.
Oh who am I kidding – I’m dancing in the street over this bit of misfortune and, hopefully, the demise of one of the most corrupt taxpayer supported organizations out there.
So long ACORN.
Ezra Klein does what a lot on the left are doing since the Tea Party in DC – trying to pretend it doesn’t mean much. He does it by deciding the crowd was 30,000 to 50,000 (note to Klein, that’s acceptable only if you declare you’ve never looked at a single crowd picture from Saturday). At that size, it is fairly equal to the largest of the anti-war demonstrations. With that as his premise Klein trots this out:
Remember when the Iraq War protests stopped the Iraq War?
Yeah. Me neither. Nor, for that matter, does Fox News, or Rush Limbaugh, which leaves me a bit confused by their joyous reaction to the Tea Party that took place in Washington on Sunday. Estimates peg it somewhere between 30,000 and 50,000 people, which makes it an admirable bit of organizing, but not a contender for the protest hall of fame. What it seems, rather, is the progression of a broader societal trend: The advent of online organizing is making it easier to connect large numbers of like-minded people and ask them to attend a rally. It’s done that for politicians like Barack Obama, protesters of all sorts and stripes, and even flash mobs.
If this was a flash mob, it was the granddaddy of flash mobs. Obviously it wasn’t. In fact it appears that the correct crowd size is “several hundred thousands”. Speaking of estimates, I’m seeing more and more nonpartisan estimates at 400,000 to 500,000.
That’s one heck of a lot of people with no real leadership gathering to protest the size and scope of government. And that’s what elected officials should find disquieting about this gathering. Klein tries to imply this was a product of “online organizing”. But it doesn’t really seem to be the case. Certainly the date was thrown out there and there’s little doubt that emails flew among certain groups, but there was nothing, organizationally, which would even approach organizational attempts like ANSWER or others on the anti-war side used to get protesters together.
It was more like “if you’re in the area and you have a problem with what’s being done in DC, stop by”. And about a half million did (not to mention the thousands upon thousands that went to local event like those held in Ft. Worth, TX and Quincy, IL).
This should give politicians pause. If that many people can be convinced to leave their couches and head toward the nation’s capital, how many who couldn’t make the trip but agreed are out there?
But the politicos and many pundits seem bound and determined to ignore what happened. What happened Saturday happened specifically because the half million who did show up are tired of being ignored. If you listen to David Axlerod, though, they’re going to continue to be ignored. In fact, worse than being ignored, they’re being dismissed:
White House senior adviser David Axelrod told Schieffer about the taxpayer protests this weekend: “I don’t think it’s indicative of the nation’s mood. In fact, I don’t believe some of the angriest, … most strident voices we saw during the summer were representative of the thousands of town-hall meetings that went on around the country — that came off peacefully, that were constructive, people voicing their points of view. …
“But this is … one of the great things about our country, is that people can express themselves, even if they’re not representative of the majority. … I don’t think we ought to be distracted by that. My message to them is: They’re wrong.
The message to Axelrod and Klein and all others who plan to continue to ignore this movement as insignificant, unrepresentative and “wrong” is pretty clear. Their arrogance borders on that of Louis XVI of France. And if they continue pushing the agenda of bigger and more expensive government, their end will be similar – a complete loss of power.
They still don’t get it – this isn’t just about health care.
Back on Earth Day of this year, while visiting a wind farm in Iowa, President Obama said:
“Now, in comparison,” Obama said, “Denmark produces almost 20 percent of their electricity through wind power. We pioneered solar technology, but we’ve fallen behind countries like Germany and Japan in generating it, even though we’ve got more sun than either country.”
“I don’t accept this is the way it has to be. When it comes to renewable energy, I don’t think we should be followers, I think it’s time for us to lead.”
Well as with most of the things he’s been talking about lately, it is factually wrong and the only place it may lead is bankruptcy. You see, apparently, despite all but blanketing Denmark with wind turbines wind isn’t producing anything close to 20%.
The Institute for Energy Research cites a study which finds the statement made by the president to not be accurate (that doesn’t mean he told a lie – Obama was only repeating what was supposed to be true at the time):
The report finds that in 2006 scarcely five percent of the nation’s electricity demand was met by wind. And over the past five years, the average is less than 10 percent — despite Denmark having ‘carpeted’ its land with the machines.
In fact, Denmark, as small as it is, has 6,000 wind turbines and it still hasn’t enough to shut down a single coal fired power plant. In fact:
It requires 50% more coal-generated electricity to cover wind power’s unpredictability, and pollution and carbon dioxide emissions have risen (by 36% in 2006 alone).
And, of course, the other part of the promise is lower rates and more jobs.
But those too have proven to be false claims:
Danish ratepayers are forced to pay the highest utility rates in Europe. And the American people are led to believe that, though wind may only provide a little more than one percent of our electricity now, reaching a 20 percent platform – as the Danes have allegedly done – will come at no cost, with no jobs lost and no externalities to consider.
Speaking of jobs, the report also pulls back the curtain on the wind power industry’s near-complete dependence on taxpayer subsidies to support the fairly modest workforce it presently maintains. Just as in Spain, where per-job taxpayer subsidies for so-called “green jobs” exceeds $1,000,000 per worker in some cases, wind-related jobs in Denmark on average are subsidized at a rate of 175 to 250 percent above the average pay per worker. All told, each new wind job created by the government costs Danish taxpayers between 600,000-900,000 krone a year, roughly equivalent to $90,000-$140,000 USD.
The obvious lesson – beware of all claims coming out of any politician’s mouth. They’ll pick and choose any “fact” that supports their agenda and not do a lick of research to ensure it is true. Spin is is king and they have absolutely no shame about spinning you until you puke.
But here’s the other thing to watch for now – since we now know that Denmark hasn’t even approached 20% electricity produced by wind, and this info is available to both the president and his advisers, if we hear it again, then it most likely is a lie.
In his 60 Minutes interview yesterday, President Obama remarked on the state of political dialogue:
President Barack Obama said in an interview to be aired Sunday night on “60 Minutes” that he sees “a coarsening of our political dialogue.”
“The truth of the matter is that there has been, I think, a coarsening of our political dialogue,” Obama told Steve Kroft in an interview taped at the White House on Friday evening.
“I will also say that in the era of 24-hour cable news cycles, that the loudest, shrillest voices get the most attention. And so one of the things that I’m trying to figure out is: How can we make sure that civility is interesting?”
So what’s his point? Well there are two. One is he doesn’t believe he and his ideas/agenda aren’t getting the news coverage they deserve because the “loudest and shrillest voices get the most attention”.
Of course, that was something the left counted on when they were in opposition to the Bush administration. But now that they are the establishment, they suffer the same problem the right did for 8 years. They’re not news. You’d think the “reality based” community would understand that dynamic.
That brings us to the “coarsening political dialogue”. The premise, of course, is it wasn’t coarse before, or at least, not as coarse.
Two points: one – it was just as coarse if not coarser prior to January 20th of this year. Anyone remember Harry Reid calling the president a liar and a loser? Nancy Pelosi claiming Bush was “incompetent?” Those are two of a myriad of examples that any reasonable person would agree are examples of “coarse political dialogue”. So I’m not buying the “coarsening of political speech” that Obama believes is happening. The difference between now and then is the “coarse speech” is aimed at him and what he’s doing.
Two – the coarsened speech occurred after January 20th of this year and well before Joe Wilson – the target of this particular riff by Obama – uttered a word. Citizens were denounced as “un-American” by Nancy Pelosi and Steny Hoyer. They were called “evil mongers” by Senate Majority leader Harry Reid. Various Democratic Congress persons called them “brownshirts”, political terrorists and a mob.
Certainly political dialogue is coarse right now, but it is nothing new, certainly not worse than before and when you consider the examples I’ve given, definitely not the exclusive provenance of the right.
Obama’s remark about all of this seems to have a slight hint of whining about it.
A new poll by the Pew Research Center for the People & the Press shows the media’s credibility is at its lowest level since the poll has been taken (1985). Skepticism about the truthfulness of the media is rampant.
The survey found that 63 percent of the respondents thought the information they get from the media was often off base. In Pew Research’s previous survey, in 2007, 53 percent of the people expressed that doubt about accuracy.
The AP points out that the poll didn’t differentiate between bloggers and broadcast and newspaper reporters. The obvious implication is that “the internet” may be a primary reason the numbers are so low. I may have missed it, but I don’t know of any bloggers who present themselves as news people. Most of blogging is commentary on the news, the newsmakers or the media and its handling of the news. While “new media” might suggest that bloggers are on a par with what is commonly referred to as the MainStream Media (MSM), it’s simply not true. Few if any bloggers claim to be “journalists” (but there are journalists who are bloggers).
AP then reports:
The Internet also has made it easier to research information and find errors in news stories, said Kathleen Carroll, the AP’s executive editor. And the Web’s discussion boards and community forums spread word of mistakes when they’re found.
Carroll hopes the increased scrutiny and accountability fostered by the Internet will lead to better journalism.
“We’re in the early stages of a changing relationship between news organizations and consumers, who are becoming much more vocal about what they like, what they don’t and what they want to know,” Carroll wrote in a statement. “It’s not always pretty or pleasant, but that engagement can and does help improve coverage.”
The “internet” isn’t some amorphous blob. The part of the “internet” which “increased scrutiny and accountability” is the blogosophere. And that underlines the way the roles have broken out in the media as a whole – something the “internet” and blogosophere now figure in prominently. The monopoly on what is news as well as how that news is reported has been irrevocably broken.
It is that which the MSM is dealing, and, in most cases, it isn’t dealing with it well.
When the price of publishing dropped to the cost the price of an internet connection fee, the monopoly was broken. No longer consigned to letters to the editor (which may never be published), the people were able to speak out in various forums, but primarily through blogs. The result has been pretty stunning. Now a much more dynamic and democratic group decides what is news and how it is covered. In many cases, the MSM has been forced to cover stories it has obviously tried to ignore.
That is most likely one of the primary reasons their credibility remains low. In 1985 about 55% believed newspapers and broadcasters generally got things right.
By 1999, the figure had fallen to 37 percent. The only time the Pew survey recorded a significant shift in the media’s favor was in November 2001, when 46 percent said they believed news stories were accurate. Dimock attributes the anomaly to the sense of goodwill that permeated the United States after the September 2001 terrorist attacks.
The most recent poll found just 29 percent believed news reports had the facts straight. (Eight percent said they didn’t know.)
Similarly, only 26 percent of the respondents said the press is careful to avoid bias. The figure was 36 percent in 1985.
As has been the case for years, television remains the most popular news source. The poll found 71 percent of people depend on TV for national and international news. Some 42 percent said they relied on the Internet, 33 percent turned to newspapers and 21 percent tuned into the radio. (The figures don’t add to up 100 percent because some people cited more than one medium.)
A decade ago, only 6 percent of the survey participants said they leaned on the Web for their national and international news while 42 percent relied on newspapers. (TV also led in 1999, at 82 percent).
If you read this carefully, you realize that the credibility problem for the MSM began well before the internet, seeing a slide from 55% in ’85 to 37% in ’99. ’99 is when the internet began to be a factor. But note that even then, only 6% said they used it for their news source. In 10 years that has grown to 42%, faster than any other source.
And what has the internet and blogs been most successful at doing? Fact checking the MSM and pointing to bias. That’s one reason only 26% now believe the MSM to be unbiased in their reporting.
Obviously the media world is changing, and as AP’s Carroll says, the MSM is still trying to come to grips with the change. What seems to finally be dawning on the MSM is the “new media” isn’t going to go away. In some cases they’ve been successful in co-opting various players. But with bars to entry as low as an internet account, there are always new players who will enter the “new media” market. The MSM may as well resign themselves that fact and step up their game (maybe they need 4 levels of editors) unless they want to continue to see their credibility shredded.
Just when it seems we’re putting al Qaeda between a rock and a hard place, we’re seeing talk about leaving Afghanistan. While we may feel we’ve a way to go against the Taliban, we seem to be succeeding against our number one enemy – al Qaeda:
Osama bin Laden’s al-Qaida is under heavy pressure in its strongholds in Pakistan’s remote tribal areas and is finding it difficult to attract recruits or carry out spectacular operations in western countries, according to government and independent experts monitoring the organisation.
Speaking to the Guardian in advance of tomorrow’s eighth anniversary of the 9/11 attacks, western counter-terrorism officials and specialists in the Muslim world said the organisation faced a crisis that was severely affecting its ability to find, inspire and train willing fighters.
Its activity is increasingly dispersed to “affiliates” or “franchises” in Yemen and North Africa, but the links of local or regional jihadi groups to the centre are tenuous; they enjoy little popular support and successes have been limited.
It is getting harder and harder to recruit “martyrs”. And, apparently, the organization has been so brutal that it is welcome in few areas. Meanwhile drone attacks continue to decimate its leadership. And those they do recruit are all but driven off once they get to their training site:
Interrogation documents seen by the Guardian show that European Muslim volunteers faced a chaotic reception, a low level of training, poor conditions and eventual disillusionment after arriving in Waziristan last year.
In other words, they become disillusioned cannon fodder. And, of course, word gets back and the supply of more cannon fodder slows to a veritable trickle.
This is called having an opponent on the ropes. We now need to do what is necessary to knock them out for good.
The “too big to fail” intervention in the financial realm may have put us in an even worse position:
Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”
A comforting thought.
Stiglitz said the U.S. government is wary of challenging the financial industry because it is politically difficult, and that he hopes the Group of 20 leaders will cajole the U.S. into tougher action.
“We aren’t doing anything significant so far, and the banks are pushing back,” he said. “The leaders of the G-20 will make some small steps forward, given the power of the banks” and “any step forward is a move in the right direction.”
Key phrase – “politically difficult”. I.e. it may cost the Democrats and Obama some political capital. Wouldn’t want them to have to make difficult political decisions, would we – so the hope is they can “outsource” it. Make the decision out to be one that a group of leaders came up with and thus a broad consensus that gives the administration some political cover.
“It’s an outrage,” especially “in the U.S. where we poured so much money into the banks,” Stiglitz said. “The administration seems very reluctant to do what is necessary. Yes they’ll do something, the question is: Will they do as much as required?”
That depends on what that political cost is calculated to be.
“We’re going into an extended period of weak economy, of economic malaise,” Stiglitz said. The U.S. will “grow but not enough to offset the increase in the population,” he said, adding that “if workers do not have income, it’s very hard to see how the U.S. will generate the demand that the world economy needs.”
The Federal Reserve faces a “quandary” in ending its monetary stimulus programs because doing so may drive up the cost of borrowing for the U.S. government, he said.
“The question then is who is going to finance the U.S. government,” Stiglitz said.
Indeed – and here we are set to spend even more money on a pet domestic issue.