Latest on Medical Insurance In a move, likely to spur action from Congress, President Trump said yesterday that the government would end government subsidies to insurers under the Affordable Care Act. The move comes on guidance from the Justice Department and the Department of Health and Human Services that the government cannot legally these multi-billion dollar payments as there is no Congressional appropriation for them. But, according to sources cited in the Wall Street Journal, Mr. Trump has said privately that “he would support preserving the payments if a bipartisan deal being led by Sens. Lamar Alexander (R., Tenn.) and Patty Murray (D.,
Republicans currently face the near impossible task of repealing Obamacare and passing a replacement bill that will not cost them politically. At their core, Republicans are loathe to add additional entitlement spending to an already broken federal budget, but no political alternative exists because, since its passage in March of 2010, Obamacare has become the nation’s newest entitlement. An entitlement in political parlance is considered as a legal right. But in constitutional terms, the foundational framework on which our nation’s laws are based, rights refer to such things as writ of habeas corpus, jury trials, freedom of religion, speech, the press, assembly
We are getting a lot of questions about things like the ‘Trump Rally,’ inflation, and owning bonds in the face of rising interest rates. These are all reasonable concerns given all the changes being openly discussed by the new administration and congressional policy makers. But aside from an unexpected and unprecedented victory like Mr. Trump’s, markets, economists, and policy makers are reacting pretty much as they should.
My wife Amy and I are taking our son Miles to the fair this afternoon, and as I thought back to my own State Fair memories of riding bumper cars and watching all kinds of people, I was reminded yet again of the important role experiences play in our lives. At Beacon we have the privilege of helping folks dream about and actually make a reality some really neat experiences, which is a tremendous joy to us.
We are big fans of Seth Godin at Beacon. As a marketing genius, his focus is centered in that industry, but many of his writings are much more broadly applicable. Not long ago a friend and client asked us to review an indexed life insurance product that his buddy, we’ll call him Bob, was near zealous over. Bob was so enamored with the promises of the insurance policy that he was even considering changing careers to sell it. A change of some kind was forced on him because he had just been laid off at 50 from a high-level executive position with a major
Welcome to the Beacon Weekend Reader: Our weekly compilation of interesting articles and videos designed to keep you informed and engaged in the areas of economics, personal finance and life. We hope you enjoy this week’s edition. Please send us your thoughts on this week’s articles and suggestions for future posts. Have a great weekend.
Why do we insist on owning Treasuries when ‘everyone’ knows they are going to go down in value? Please allow me to answer this question metaphorically, beginning with another question: