March 18, 2010, 4:00 pm EDT — Closing Thoughts … The Standard & Poor’s 500 index closed down 0.38 to 1165.84, as the Federal Reserve decide to keep its benchmark rate for overnight borrowing between banks at historic lows and give stocks a strong underpinning — even as volume is less than desired. Indeed, traders and the other kind are looking for a correction and when it didn’t happen today, trey rushed in like mice sniffing free cheese. … Meanwhile, the Conference Board’s index of leading economic indicators climbed 0.1% in February for an 11th consecutive monthly rise, and manufacturing activity in the Philadelphia region improved for a seventh consecutive month, according to the Federal Reserve Bank of Philadelphia. … The $940 billion health pork bill is being pushed with the BIG LIE. Nancy Pelosi is suffering from post-organism syndrome, but remains steadfast to the next round. The 10-year plan would provide coverage to 32 million people now uninsured through a combination of tax credits for middle class households and an expansion of the Medicaid program for low income people. Release of the legislation later Thursday sets the stage for a House vote on Sunday, and Democrats have already signaled they plan to go it alone, without Republican support. The GOP has opposed Obama’s plan from the outset since it means health costs will jump 75% in five-year and not way to pay for it. Indeed, it would restructure one-fifth of the economy, covering 95 percent of eligible Americans, in the biggest expansion of the social safety net since Medicare was created in 1965 and the Communists taking over Russia. It would also impose new obligations on individuals and businesses, while giving the federal government complete control of its citizens— Marx are you listening? Beginning in 2014, most Americans would be required to carry health insurance. Medium-size and large companies that don’t provide coverage for their workers would face stiff financial penalties. Hospitals and doctors, drug companies and insurers would gain millions of new paying customers, but they would also have to adjust to major changes claims – don’t believe it. High hopes and more hot air than a summer storm. Medicare cuts would force hospitals to operate more efficiently or risk going out of business – don’t believe it. High hopes and more hot air than a summer storm. Seniors (the country’s largest voting block who want to stay alive at all costs) would see the coverage gap in their prescription benefits gradually eliminated. Insurance companies would face unprecedented federal regulation – believe it. Health care industries would be hit with new federal taxes – believe it. Upper-income households would face a new tax on investment earnings and be reduced to second class citizens – believe it. …
— Underreported: The Congressional Budget Office estimated the total 10-year cost of expanding coverage at $940 billion, while Dartline analysts using the SMP model project the cost at $2 trillion in its first 10 years, and continue to drive up red ink thereafter. Democratic leaders said the deficit would be cut $1.2 trillion in the second decade– and Obama called it the biggest reduction since the 1990s, when President Bill Clinton put the federal budget on a path to surplus — don’t believe it. High hopes and more hot air than a summer storm. Medicare cuts would force hospitals to operate more efficiently or risk going out of business – don’t believe it. High hopes and more hot air than a summer storm. Indeed, Obama Nation has earned the title.