Sunday, March 29, 2015 12:04pm
North Adams, MA now: 30 °   
Send news, tips, press releases and questions to info@iBerkshires.com
The Berkshires online guide to events, news and Berkshire County community information.
SIGN IN | REGISTER NOW   

Home About Archives RSS Feed
The Independent Investor: Obamacare Confounds Critics
By Bill Schmick On: 04:15PM / Friday April 04, 2014
Important
0
Interesting
0
Funny
5
Awesome
0
Infuriating
0
Ridiculous
6



Despite a coordinated and well-financed effort to sabotage and overturn the Affordable Care Act, the open enrollment numbers this week indicate there is a groundswell of support by Americans for a universal and effective health-care coverage.

That may surprise some of you but not this columnist. Back in the day, I lived through the fear and anxiety of having no job or health-care coverage. The nightmare of how to protect my family kept me awake at nights. Fortunately I did land a job, actually a crappy position I took simply because my employer offered health-care coverage.

Right here in my neck of the woods, the North Adams Regional Hospital announced (with three days' notice) it was closing, putting 530 hospital employees (and their families) out of work. A byproduct of this layoff is an abrupt end to their medical insurance. In a different day, these families would have nowhere to turn. Fortunately, thanks to the Massachusetts health-care laws and now the Affordable Care Act (ACA) there is someplace to turn.  

Most readers understand that the legislation that is Obamacare is far from perfect. In my opinion, its passage was simply the beginning brick of a health-care system foundation whose time had come in this, the greatest nation in the world. I expected that there would be wholesale changes to the original legislation as time went by. The resulting vitriolic response to the law consisting of overblown predictions of doom, outright lies and organized sabotage both dismayed and angered me.

Granted, the Obama administration fumbled the ball right out of the gate with their less than auspicious launch of the program's primary website, HealthCare.gov. The Congressional Budget Office, you may recall, had subsequently reduced its estimate of open enrollment by this Monday's deadline to only 6 million due to the botched launch.

Some of the data extrapolations and promises of what the program could and would do for those Americans who were uninsured or underinsured were also overblown. That damaged the credibility of a sincere effort to provide what even many emerging nations offer their citizens. Obamacare was quickly labeled a "train wreck" by the majority of Republicans and was touted as the main issue of the upcoming mid-term elections. Yet, none of those mistakes warranted the effort to overturn the law, let alone shut down the government if its critics didn't get their way.

Bill Schmick is registered as an investment adviser representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com.
So it is doubly important to recognize that with all these headwinds, the government's original estimate of 7 million enrollments in individual insurance plans was not only met but exceeded by the March 31 deadline. All those predictions that the ACA would spawn "death panels" (Sarah Palin), massive layoffs (Marco Rubio), skyrocketing health costs (most Republicans) and let's not forget Rush Limbaugh's prediction of "the total collapse of American society," were either outright lies or at best examples of monumental ignorance.

Readers note that this week there has been a deafening silence from the opposition. How very predictable.

Make no mistake; the opposition pulled out all the stops to defeat this effort.  As one small example, the response to my own columns on Obamacare was organized and orchestrated. I still receive daily and weekly comments protesting my position on the need for some kind of universal health care.

I started to dutifully publish these comments but soon realized the emails were so similar and the writing style so clearly from the same hand that it became obvious that I was a victim of a mass anti-Obamacare email campaign.  I can't prove it nor do I need to. I simply delete the innumerable computer-generated emails from "poor widows and orphans wiped out by Obama."

Bottom line, I hope these Obamacare enrollment numbers force a change in the opposition's tactics. Rather than insist on overturning a much-needed health care initiative in this country, wouldn't it be nice if they simply worked to improve it?



0 Comments
     
News Headlines
Williams Women's Tennis Beats No. 1 Emory
Lanesborough School Approves $182K Budget Cut
North County Group Lobbies for Hospital Reopening
Finance Committee, Selectmen See ACRSD Proposed Budget
Former Pittsfield Councilor Pete White Seeking at-Large Seat
Williams College Admits 1,159 Students for Class of 2019
Cheshire Water Protection Bylaws Saved; Bridge Being Closed
Lenox Library Launches 20th Annual Book Donation Drive
Scholarship Deadline Approaching for Girls Inc. Awards
Applications Accepted for Lola Greene Legacy Scholarships

Bill Schmick is registered as an investment advisor representative and portfolio manager with Berkshire Money Management (BMM), managing over $200 million for investors in the Berkshires. Bill’s forecasts and opinions are purely his own and do not necessarily represent the views of BMM. None of his commentary is or should be considered investment advice. Anyone seeking individualized investment advice should contact a qualified investment adviser. None of the information presented in this article is intended to be and should not be construed as an endorsement of BMM or a solicitation to become a client of BMM. The reader should not assume that any strategies, or specific investments discussed are employed, bought, sold or held by BMM. Direct your inquiries to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com Visit www.afewdollarsmore.com for more of Bill’s insights.

 

 

 



Categories:
@theMarket (164)
Independent Investor (221)
Archives:
March 2015 (6)
March 2014 (1)
February 2015 (7)
January 2015 (9)
December 2014 (7)
November 2014 (4)
October 2014 (9)
September 2014 (5)
August 2014 (7)
July 2014 (2)
June 2014 (6)
May 2014 (9)
April 2014 (8)
Tags:
Currency Euro Fed Metals Deficit Europe Oil Europe Housing Debt Greece Election Bailout Taxes Rally Crisis Energy Debt Ceiling Federal Reserve Congress Stock Market Economy Commodities Stocks Interest Rates Pullback Retirement Stimulus Markets Recession Selloff Jobs Japan Banks Fiscal Cliff
Popular Entries:
The Independent Investor: Don't Fight the Fed
The Independent Investor: Understanding the Foreclosure Scandal
@theMarket: QE II Supports the Markets
The Independent Investor: Does Cash Mean Currencies?
@theMarket: Markets Are Going Higher
The Independent Investor: General Motors — Back to the Future
The Independent Investor: Will the Municipal Bond Massacre Continue?
The Independent Investor: How Will Wall Street II Play on Main Street?
@theMarket: Economy Sputters, Stocks Stutter
The Independent Investor: Why Are Interest Rates Rising?
Recent Entries:
@theMarket: The Fed Does It Again
The Independent Investor: Financial Challenges Facing Single Parents
@theMarket: Pay Attention to Diverging Markets
The Independent Investor: Kids & Money
@theMarket: Home on the Range
The Independent Investor: Rise of the Smoothie
@The Market: Full Steam Ahead
The Independent Investor: New Fiduciary Rule Would Benefit All of Us
The Independent Investor: How to Make the Most Out of Social Security
@theMarket: A Race to the Bottom


View All
Spark Event @ Sohn Gallery
Sohn Fine Art in Lenox hosts a Berkshire Creative Spark...
Hoosac Valley Does 'Grease'
The Hoosac Valley High School drama team is producing the...
North Adams Chamber @River...
The North Adams Chamber of Commerce held its monthly mixer...
Birds of Prey
Julie Anne Collier of
Berkshire Chamber Nite @ UP
The Berkshire Chamber of Commerce held its monthly...
Pitt House Series at Dottie's
The first in the Pitt House Concert Series was a sold out...
Berkshire Awards 2015
Lila Berle, Churchill Cotton and Mary Rentz were honored on...
BYP Networking at AIER
The Berkshire Young Professionals gathered at the American...
Berkshire Art Fellowship Show
The 12 Berkshire Art Association College Fellows for 2015...
Hoosac Boys Lose to Old...
The Bulldogs scored the next six points and later used a...
Hoosac Girls Drop State Final...
The Hoosac Valley girls basketball team ended its season...
Massachusetts Region I High...
Near 80 students from throughout the region met in the...
Mt. Greylock SEE Fund
Williamstown's community access television station,...
2OT, Sends Hoosac to State...
Jameson Coughlan scored on a baseline inbounds play from...
HV Win State Semi-Final
Last season, with 1 min., 30 sec. to go Bellingham was down...
Hoosac Girls to Western Mass...
On Saturday afternoon, it had a chance to hang one more...
Spark Event @ Sohn Gallery
Sohn Fine Art in Lenox hosts a Berkshire Creative Spark...
Hoosac Valley Does 'Grease'
The Hoosac Valley High School drama team is producing the...
North Adams Chamber @River...
The North Adams Chamber of Commerce held its monthly mixer...
Birds of Prey
Julie Anne Collier of
Berkshire Chamber Nite @ UP
The Berkshire Chamber of Commerce held its monthly...
| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings
Advertise | Recommend This Page | Help Contact Us | Privacy Policy| User Agreement
iBerkshires.com is owned and operated by: Boxcar Media 102 Main Street, North Adams, MA 01247 -- T. 413-663-3384 F.413-664-4251
© 2000 Boxcar Media LLC - All rights reserved