Friday, October 15, 2010

More Joy From Obama

First cheery news comes from the bowels of the Democrat passed Healthcare bill that Nancy Pelosi said we must pass before we find out what is in it. For those with Health Savings Accounts[HSAs] approximately 15,000 over the counter[OTC] drugs will now require a doctor's prescription after January 1st, 2011 for every refill. The full list of these drugs will not be available until December 15th, 2010. I would much prefer a lump of coal in my stocking than that, thanks a lot you Scrooges who say you care about the people.
H/T Flopping Aces.

Second on the hit parade comes from the Federal Reserve. I am not an economist but their reasoning is leaving me puzzled. The Fed wants to buy back Treasury Bonds because prices of goods has remained flat. Bernanke fears deflation and the impact it would have on things like mortgages and credit card debt. So by buying back these bonds, Bernanke wants to raise the cost of business which will drive up the cost of goods which will cause inflation in the hope that consumers will be scared into buying now before inflation jacks up the prices more. Is it me or is this a classic case of a meddling government doubling down on stupid because their egos can not admit they might be incapable of doing what they think they can? Somewhat like the centrally planned economy of the Soviet Union?

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