Where is Our Government? Part II
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“The amount patients pay can vary widely depending on their insurance plan, and Halford’s cost started at $500 a month, but within a year the drug she needs to stay alive was costing her more than $800.”
“Americans feel isolated from the leaders that they sent to Washington to represent them. Therefore, it is imperative, more than ever, that our leaders in Washington focus on addressing and confronting the problems that afflict America today- with both foresight and determination. I am a firm believer that what the American people deserve is a clear and concise explanation from our leaders as to how they do plan solve the most pertinent issues facing the country.”
“But did the Fed’s approach spare Americans a harsh reckoning, or only delay it? Even after more than $1 trillion in defaults and repayments, Americans still hold twice as much housing debt as they did in 2000. If mortgage debt had merely stayed in line with the growth in other prices instead of outpacing inflation, we’d owe a collective $6.6 trillion today on our houses, not $9.4 trillion. And what happens when mortgage rates rise, or when house prices stagnate or even fall again? We could end up where we were six years ago—with borrowers and lenders alike realizing that they can’t repay their debts.”
Of Interest at the Fed by Nicole Gelinas, City Journal Winter 2015.
Fiscal Intelligence 