$894 BILLION -THAT’S A WHOLE LOT OF CHEDDAR!

President Barack Obama and House Speaker Nancy Pelosi have lunch in the Oval Office Dining Room of the White House, Oct. 22, 2009. (Official White House Photo by Pete Souza

I have a few questions.  Will there be any revenue?  Who is the TRUE beneficiary of this cash cow?

Pelosi unveils $894 billion House health plan

Would extend coverage to 36 million, require employers to offer insurance

The 1,990-page bill unveiled by House Speaker Nancy Pelosi Thursday would transform the way Americans’ medical care is paid for. The bill:

— Would result in a net deficit reduction of $104 billion over the 2010-2019 period, according to preliminary estimate by the Congressional Budget Office. The CBO said $1 trillion in new spending would be offset by $426 billion in spending cuts and $739 billion in new revenues from tax increases and penalties.

— Imposes a 5.4 percent tax on income over $500,000 for a single person or $1 million, for couples filing joint tax returns.

— Imposes a 2.5 percent tax on wholesale sales of medical devices, but exempts retail sales.

— Expands the Medicaid program to those with incomes up to 150 percent of the federal poverty line, or $33,075 for a family for four, expanding eligibility far beyond many states’ current levels.

— Subsidizes coverage for families with incomes up to 400 percent of the federal poverty level, or about $88,200 for a family of four.

— Sets up a public insurance option, funded by $2 billion in federal start-up money and then paid for with enrollee premium payments. Opens the public option only to people not enrolled in employer-sponsored insurance, Medicare, or Medicaid.

— Requires some employers who do not offer insurance coverage to their workers to pay a penalty equal to 8 percent of their payroll costs. Exempts firms with annual payrolls below $500,000.

— Requires individuals to either obtain insurance coverage or pay a fee equal to 2.5 percent of their adjusted income above the income tax filing threshold, or the average cost of insurance coverage.

— Sets up a $10 billion reinsurance program for insurance plans which cover early retirees (those between ages 55 and 65).

Source: House Rules Committee.

Read the 1,990 page PDF here:

Howard Dean on the House Health Bill

Countdown with Keith Olbermann, MSNBC, 10-29-2009 single payer universal health care insurance public option sicko  Moore medicare President Obama Bush liberals, Baucus Grassley Senator Snow…

Hat tip Val!

Peep the GOP  and John Boehner’s latest antics regarding the House health care plan:
OMG!! It’s 1,990 Pages!

For all you visual folks, this image should give you an idea of  what 2000 pages looks like.

For the GOP, it comes down to how much paper is being used for the  House healthcare plan?

So Boehner and crew have read it all, and they know exactly how many times the word “shall” was used.  They’ve hand-picked what they want to spin.

To be fair, here’s a copy of the GOP Health Care Plan:

Boehner: GOP offering the right health care ideas

WASHINGTON – Republicans have the answers to lower health costs and expanded coverage, not the Democrats hold power in Washington and are creating more problems as they “recklessly pursue” a government takeover of the health care system, a GOP leader said.

The top House Republican, Rep. John Boehnerof Ohio, outlined his party’s alternative in the GOP’s weekly radio and Internet address Saturday. Democratic proposals are gaining momentum in Congress and Republicans are scrambling for support to try to block them.

Taking aim at House Speaker Nancy Pelosi’s plan, Boehner said it would put Washington in charge of health care decisions, add to the bureaucracy, raise premiums and cut Medicare benefits.

“Enough is enough. Breaking the bank and taking away the freedoms Americans cherish is not the answer to the challenges we face,” Boehner said.

Source

It is sad that we Americans have to wade and sift through the bullshit to get what is rightfully ours.  Bottom line… WE need Health insurance reform, and universal health care.

Honestly folks, who amongst us will ever take the time to read in its entirety either one of these plans?  If any one reads and fully understands what these plans truly offer Americans, drop your insights.

I’m going to take the next few days and sort through the paper and fine print.  How about you?

WEE appreciate your commentary.