Monday, November 17, 2008

Over $4.2 Trillion Spent to Improve Financial Health

CNBC kept track of the Bush administration's interventions to rescue the imploding American financial system. The total to date is $4.28 trillion dollars. That doesn't include:

1. The projected $140 billion in merged bank tax cuts
2. Interest the fed is now paying on excess fed funds
3. Impact of lowered feds fund rate

That's some serious Corporafornication, easily over $4 trillion. With the big money boy bailout, how much is left to help Americans get health care? Hospital uncompensated care stood at a paltry $31 billion, at last check. Exxon alone made enough profit to pay off the tab.

America has the means to ensure access to care for all citizens. It lacks the political will. The Bush bailout has a high probability of sapping the message of change sent by voters. How soon before we hear, "America can't afford it?" A preemptive pox on all their mansions. That might help our leaders understand the importance of health care. They seem fully capable of intervening when it impacts them and theirs.

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