Sad, But True

by

Politicians love attention, love the spotlight, except by the ethics committee.  Close to half of the members of a house panel that control spending at the Pentagon are under scrutiny by the House Ethics Committee.   Rep. John Murtha’s panel is chairman of the appropriations subcommittee on defense, along with 6 other members are under investigation by 2 different ethic’s panels.

Also under scrutiny are Reps. Peter Visclosky, D-Ind., and James Moran, D-Va.  The investigation was revealed when a low level staffer shared the info with another staffer while working at home on a common access web site.  He has been fired.

In other investigations, I mean News, 2 California Reps are also investigation.  Rep. Maxine Walters is under investigation for allegedly steering a committee towards lending the Bank her husband is a stock holder.  Rep. Laura Richardson received a sweetheart deal on a loan and failed to acknowledge that on her financial disclosure forms.

Still nothing on Rep. Charlie Rangel and his tax fraud investigation.

All the misinformation worth talking about:

I’m always concerned when Politicians seem to have special knowledge right at their fingertips.  Generally, to me, that means it is something made up on the spot.  Take these examples.

–“I’m very pleased that (Democratic leaders) will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years.” House Speaker Nancy Pelosi, D-Calif., who also welcomed the attention being drawn to insurers’ “obscene profits.”

–“Keeping the status quo may be what the insurance industry wants. Their premiums have more than doubled in the last decade and their profits have skyrocketed.” Maryland Rep. Chris Van Hollen, member of the Democratic leadership.

Except neither statement is true.  This is nothing but fear mongering.  The facts are this:  Health insurance profit margins typically run about 6 percent, give or take a point or two.

–“Health insurance companies are willing to let the bodies pile up as long as their profits are safe.” A MoveOn.org ad.

False again.  Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year.

I promise that when this health care passes, if it passes, the rating will go down even more.

The vilifying of insurance companies is just a gimmick, a ploy to get Americans behind a bad idea.  Health insurers posted a 2.2 percent profit margin last year, placing them 35th on the Fortune 500 list of top industries.   And HealthSpring, the best performer in the health insurance industry, posted 5.4 percent. That’s a less profitable margin than was achieved by the makers of Tupperware, Clorox bleach and Molson and Coors beers.

The other nonsense sounded about is that this is Bush’s fault.  He allowed the special interest groups to dictate policy to spur their “obscene” profits.

The truth:  Judging by profit margins, profit growth or returns to shareholders. The industry’s overall profits grew only 8.8 percent from 2003 to 2008, and its margins year to year, from 2005 forward, never cracked 8 percent.

The latest annual profit margins of a selection of products, services and industries: Tupperware Brands, 7.5 percent; Yahoo, 5.9 percent; Hershey, 6.1 percent; Clorox, 8.7 percent; Molson Coors Brewing, 8.1 percent; construction and farm machinery, 5 percent; Yum Brands (think KFC, Pizza Hut, Taco Bell), 8.5 percent.

I could be wrong, but I don’t think those guys are going to need a bailout by the Fed.

Climate (un)Change:

All the noise over what is now called climate change, upgraded from global cooling and global warming, seems to be cooling off.  That is because for the past 2 years the earth has been cooling.  Hard liners say that 2 years mean nothing and global warming is real, but think again.  Because what makes this important is that the computer models did not predict this cooling.

So a reasonable person might say if it can’t predict this cooling trend why should I believe that it has the next 25 years correct?  Fact is, I don’t.  I still believe this is mostly driven by money.  Algore has made millions on his fake carbon footprint nonsense.

I believe that we should use all means available to limit damage to the planet, but reasonable measures should be enough.

Afghan War:

Just a short note on Gen. McChrystel.  There is a reason the good General was placed in the position he is in.  That reason is trust.  He was being trusted, by the President, to serve as commander in the Afghan conflict.  Bottom line, the President, who has ZERO military experience, has to trust the man in charge.  If he doesn’t, then he needs to fire him.

chas

“Rebellion to Tyranny is Obedience to God”

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2 Responses to “Sad, But True”

  1. Free Credit Report | Improve Credit Score at The Credit Clinic Blog Says:

    […] Sad, But True « Constitutional Republic […]

  2. Gwen Says:

    Good article Chas. You always provide insight to what’s going on out there for me. I’m not very political, so I enjoy reading your thoughts.
    ===========================
    Thank you for reading Gwen. You don’t have to be political to want to maintain your Rights and Freedom’s, so it pays to watch what is going on.

    chas

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