Obama and the Democratic-controlled congress have good intentions, but it seems that this administration is no different from the past administration. In the worst economic crisis in decades, the people in charge of running our country are penny-wise and dollar-dumb. Despite all the current changes to medicare and the ongoing debate over more cuts to medicare in the proposed health care issue, they are overlooking one critical fact: $30 billion dollars or more of medicare money is lost each year to fraud. I don’t understand why they are not addressing this issue. Have we elected leaders that have no concept of the value of our money? Congress has managed to address all sorts of issues in the 1,000+ pages of the health reform bill; why have they not addressed the issue of fraud to the system?
We know the excuses: There’s the time constraint and the lack of people available to trace the fraud. In fact, past-President Clinton recognized the impact fraud had on our national budget and tried to get the then Republican-controlled congress to address this issue. And yet, over a decade later, nothing has been done. It insults my American blood to know that con-men are probably laughing at the ignorace of my country all the way to the bank. Not only does this show the world that our government is wasteful and financially uncaring, but I wonder just how much of this fraudulent money is used to help fund terrorism around the world.
We need to stop this fiscal leaking before we address spending more money. Can’t someone come up with a solution? Wait a minute, I have a solution! The National unemployment rate is over 10% and the the President recently held a summit on creating jobs in America with the focus on not spending more taxpayer money to do it. Why not hire some of those unemployed people to investigate the medicare fraud. One very simple solution would be to set up call centers where newly-hired medicare employees could call and verify that medicare recipients actually received the services that were billed to them. If the service was valid, those bills would be paid. If the services were not valid, then they would not get paid. This would be a self-funded program; money saved would cover the cost of the centers and the hiring of new workers. Wahla! no new expense to taxpayers and the respect of this administration and congress would increase a notch or two. In fact, maybe we should look at other areas where there is a huge waste of taxpayer’s money and see how we can put people back to work by recovering these funds.
I am not opposed to paying more taxes if that is what is needed to make this country healthy, but I am opposed to sitting back and watching my tax dollars be stolen. Our administration needs to lead by example and show us the meaning of fiscal responsibility.
Over the past year, I have watched my investments plummet then make a feeble attempt at recovery, only to nosedive again this past week. The economic news mirrors my concern. We might be in an economic bubble or we might be on the road to recovery. Who knows? Apparently no one can say for sure, despite their educational background or their position of power. I question whether my IRA will ever be healthy enough for me to retire on. Then, I tell myself not to worry, retirement is highly over-rated and what would I do with all that time on my hands anyway, especially if I can’t afford the lifestyle I want to become accustomed to. See? Even my sense of humor is suffering from this financial burden.
I am not sure who is to be trusted anymore. I was struck dumb, when I heard that the bank executives who put us in this economic tsunami must be given their million-dollar bonuses or they will go some place else to work. I say, “Let them go!” These people have proven to the world that they are the epitome of incompetency. I don’t understand why they kept their jobs in the first place, and I really don’t understand, knowing their history, who would hire them now. We have finally reached that point where the world has turned upside down, common sense has been abandoned and logic is non-existent. Hey folks, Nero is back, and Rome is burning.
I’m not one for idly standing by and yet, where my finaces are concerned, I must confess, I have taken the passive road. I have trusted strangers to turn my hard earned money into a comfortable nest egg. I hypnotized myself into believing that since the investmenet firm had an old, established name, it was a safe place to invest. Silly me. Over the years I have learned that the only one who can take care of me the way I want to be taken care of, is me. And if I want to see a safe, secure financial future, than it is up to me to take the necessary action to make it happen. I have made a commitment to handle my own financial future. I have enrolled in investment classes and when I am done, I will have the knowledge I need to chart my own path.
Wish me luck and follow my progress here.
Financing the Retirement Dream
Just when I thought my nest egg was about ready to feather my retirement, the bottom fell out of the economy and within days, what was once egg is now just shell. I believe that, despite this recent set back, my investments will again grow and prosper. I know that I must wait patiently and continue to invest, and I also know that there are times that I need to rant, re-evaluate and look for wisdom. This Section is dedicated to just such rantings and moments of wisdom. I hope that you might find something here that you can identify with or offers a moment of solace in these difficult times.
To add a little more fuel to the already flaming meltdown, I am now hearing rumors around the Internet about a covert monetary coalition between the U.SA., Canada and Mexico that will virtually render all of our hard earned but depleted savings and investments to pennies on the dollar and that these three nations would be trading in a new currency called the Amero. Here is a little info about it from Wikipedia. It was Polish economist, Mateusz Machaj who pointed out that the Amero theory is a Canadian pipe dream that is going nowhere, and that the images you see all over the web are actually the designs of a private artist named Daniel Carr. I think back to when European nations banded together to create a common currency. According to my memory, the reasoning behind the Euro was that these countries were small and people could conceivably travel between them in a short matter of time making money conversion a headache, especially for tourists. It took years of working out the details and votes by the people of those countries to make it happen. During this time, there was much talk on the news and in fact, before it was common knowledge to the masses, one of the soaps (I think it was General Hospital or Guiding Light) picked it up. Read more »
It’s about time someone on commercial TV addressed some of the real issues going on in Washington. I am referring to the John Stossel’s 20/20 report Friday, October 27th. I believe that Americans are basically good. When given the choice, we would rather see all people enjoy prosperity, live harmoniously in a safe and clean environmentand have equal opportunities. However, politicians (first with the visions of serving the public good and then after serious indoctrination, with the illusions of grandeur and power) corrupt the American dream. It never ceases to amaze me that an idea that starts with the best of intentions, once touched by special interest groups and seasoned politicians, turns into a huge expense for the American taxpayers and does little to solve the original problem it was designed to fix. How does this happen? Does the political arena attract only the genetically corrupt? Have Americans stopped being the watchdogs of the government? Or, is there something else amiss here? Read more »
I just read There is a Silver Lining on the Newsweek website and it has some interesting insight. To paraphrase, this article says that amid all the difficulties and hardships we are about to undergo, there is one silver lining. This crisis has - dramatically, vengefully - forced the United States to confront the bad habits it has developed over the past few decades. If we can kick those habits, today’s pain will translate into gains in the long run. We, not only as a nation, but also as individuals have depended upon easy money to support our spending frenzy. I realize that I too, am part of the problem. I have purchased things on a whim that I did not need, spending money unwisely instead of saving for a rainy day. Sitting idle in my closet are new shoes that have never been worn, sweaters that still have the sales tag attached and dresses that I will never wear. In my bathroom are a variety of hair products that have been used once or twice and then shoved under the sink and beauty products that promised miracles but didn’t deliver. I have enough blankets and towels to outfit a mansion but I only have one bedroom and one bathroom. There are so many things that I spend money on needlessly without thinking. Maybe this is my wake-up call. Read more »