Will you get insulin-cost relief from the inflation bill? Not if you have private insurance

Will you get insulin-cost relief from the inflation bill? Not if you have private insurance

But an out-of-pocket cap identical to that for Medicare was stripped from the bill for those with private insurance because Democrats are trying to pass the bill by a simple majority through the reconciliation process. That requires Senate Parliamentarian Elizabeth MacDonough to vet the provisions. She said most of the health-related features were fine, but the insulin proposal for those who have private insurance, not Medicare, violated the Byrd provision, which says that issues “extraneous to the federal budget” cannot be passed by simple majority through reconciliation.

Out-of-pocket spending for those with Part D Medicare drug coverage will be capped at $2,000 a year.

In 2024, a 5% coinsurance payment that now kicks in after someone reaches the catastrophic drug spending level of $7,050 in Medicare will end. Because drug companies set their own prices, 5% on expensive drugs can be a lot of money.

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White House Rethinks China Tariffs Amid Taiwan Turmoil

White House Rethinks China Tariffs Amid Taiwan Turmoil

By Zerohedge.com

The Trump tariffs are the subject of a lawsuit filed by scores of U.S. companies who’ve asserted the levies are overly broad and were improperly implemented. If the Biden administration can’t defend the Trump tariff regime, it could be compelled to evaluate tens of thousands of public comments about it, or reimburse the plaintiffs for tariffs they’ve paid so far.

Biden’s interest in pandering to labor unions also figures in his slow-walking his tariff-relief decision. Milton Friedman had something to say about that

“The benefits of a tariff are visible. Union workers can see they are ‘protected.’ The harm which a tariff does is invisible. It’s spread widely.”

What labor unions?!

Union Representation Petitions Continue to Increase in FY 2022 Under Biden Administration

According to the U.S. Bureau of Labor Statistics, in 2021 the percentage of U.S workers, including public- and private-sector workers, who were members of unions was 10.3 percent—a half point decline from the 10.8 percent unionization rate in 2020. Within the private sector, the unionization rate declined by 0.2 percent in 2021 to 6.1 percent. The degree to which union activity in 2022 with an aggressively labor-friendly NLRB general counsel and a majority Biden appointed Labor Board moves the needle for union membership is yet to be determined.

Producing New Enemies for No Reason Whatsoever

A good friend of mine, learning of the impending visit of Speaker of the House of Representatives Nancy Pelosi to Taiwan, recalled Homer’s description of Helen of Troy, “The face that launched a thousand ships and burnt the towers of Ilium.” Well, Nancy ain’t no Helen of Troy, but she might nevertheless be in the business of launching warships and burning cities due to her bizarre interpretation of her foreign policy prerogatives as Speaker.

Producing New Enemies for No Reason Whatsoever

U.S. election cycle drives new confrontations with China, Russia

Global Times | August 1, 2022

Dim mid-term election prospects of Democrats risk igniting more tensions

With less than 100 days to go before the US mid-term elections, many US media outlets, polls and observers see the Democrats’ prospects dim. A new Bloomberg Economics study showed that “President Joe Biden’s party can expect to lose 30 to 40 seats in the House and a few in the Senate too, easily wiping out razor-thin Democratic majorities,” Bloomberg reported on Saturday.

U.S. election cycle drives new confrontations with China, Russia

Zelensky Told Americans That His Country Should Be More Important To Them Than Their Own

It’s understandable why people would be offended by a foreign leader telling them to place his country’s interests above their own and to not care about inflation. It’s beyond disrespectful after they’ve already suffered enough to help him. Zelensky isn’t ever happy, however, unless he hears about more wealth being redistributed from Americans to Ukrainians.

Zelensky Told Americans That His Country Should Be More Important To Them Than Their Own

Calling a recession and blaming it on interest rates

The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.

Calling a recession and blaming it on interest rates

Oliver Boyd-Barrett: Approaching War with China

By Prof. Oliver Boyd-Barrett, Substack, 7/29/22

Donbass and Kherson Developments

Drawing on Dima’s reports to the Military Summary Channel, it appears to Mercouris (Mercouris July 29 2022) that the Russian renewed offensive is now in full force, more intensely overwhelming than it has ever been, quite contrary to a recent BBC report.

Oliver Boyd-Barrett: Approaching War with China
U.S. military bases surrounding China.