Will The Safety Net Catch The Economy's Casualties?

New York Times:

Economists rarely agree on anything, but a great many do agree on one unfortunate matter these days: the current economic downturn is likely to develop into the worst recession since the downturn of 1981-82.

The United States is a far different place. Government programs in place then to cushion and counter recessions have been scaled back sharply, raising questions about whether they are up to the task as the economic outlook darkens today.

Read the whole story: New York Times

Comments

[mater]

The prescription drug program is exploitative and a heartbreak. The first year humana's premium was about $4 for just the drug part; this year , it jumped to $14.40 for the same drugs and the counter co-pay also went up. In 2009, the same premium coverage will double to $28.90, plus $2 more to grab the drug-filled bag from the pharmacist. United health Group and other plans are super expensive too. AARP , who invokes UHG's name on their tv commercials, says thery don't "make the Prices", but they certainly are not advocating on behalf of their paying member group for competitive prices! If more than one elderly/ill person live in the same household, and use these services, including the medical plans, it is an almost insurmountable burden, that which was supposed to be the magic entry into affordable prescription drugs and health care. It is heartbreaking that the cost of living went up 5.8% this time for 2009 and these plans went up 100% or more! More seniors are forced to pick a plan or pay a penalty later and don't need another excuse to use their credit cards @ a high interest rate just to take their medicine. It still is a choice between food or medicine and that choice which was supposed to be moderated by the govt, and has been apparently left to Medicare and the drug companies to create their own windfalls.

[Philament]

Everyone has to see I.O.U.S.A.­, which came out earlier this year. Here's a clip that puts the prescription drug benefit program into perspective:
http://www.youtube.com/watch?v=Dp8ZmQMCtqA&feature=related

America must take harder medicine. Even before the financial crisis, we could not afford the prescription drug benefit. I empathize with those who labor under the burden of costly medicine, but all of these groups wanting more spending on a safety net surely must realize that we're already headed over a financial cliff. It's not fair I know, but if we build this safety net much bigger, given the unfunded liabilities we already have, this whole system will collapse. You basically guarantee that America fails during the lifetimes of young Americans today.

[Zeje]

A nationalized health care system -- without the middle men -- wouldcost much LESS (as it does in all the other industrialized countries)

[PT6]

With many million out of work and not spending money our Economy slips further into Recession!

If people, business, and industry stop spending and exports drop off then the only way to CREATE MONEY FLOW and get out of a Recession is to increase Government Spending!

Extending unemployment helps a little but Government Created JOBS are the Most Useful TOOL and that is Obama's Plan!

[research]

It's time for another FDR.