Life in the Golden Age (Updated)

Though it may not seem like it, we're living in a golden age that's about to come to an end. This is the Golden Age of healthcare, the best in the world. Maybe the longest recession since WWII is coming to an end but it'll take years to get back to where we once were in terms of jobs and personal wealth.

This is indeed a great golden age in many respects but only in comparison with the future in store for us, thanks to this president and this Congress. During the 2008 presidential campaign, candidate Obama said, "America is the greatest country in the world and together, we can change it!" Now, we have a clear idea what he meant.

The current House and Senate healthcare reform bills now before Congress amount to massive tax increases and do nothing to reduce costs. The main reason the public ever wanted healthcare reform was lower costs. Why, then, is any effort to reduce costs blocked by the Democrats? These bills are the opposite of what the people want because they actually would cause an increase in costs and deficits, according to the CBO. There would a great shortage of doctors, there would be rationing of care, and a big increase in inconvenience. Healthcare as we know it today would devolve, resulting in higher death rates and misery.

Chances are, the final bill will be somewhat different from the bills currently in play and that considerable time will pass before anything is signed. Let's hope it's something much better than what has been proposed so far.

Meanwhile, let's give thanks for what we have before we lose it. Let's be thankful for an unemployment rate of only 10.2% because it's about to go higher. You don't know what you've got until it's gone. Maybe it would help to take a little peek at the future so you can appreciate how things are now.

There's already a doctor shortage now but that will get dramatically worse if pending legislation passes. Several taxes will be imposed starting next year. For a complete list, see: BREAKING: Full List of Tax Hikes<br> In Senate Democrat Health Bill.

We're already seeing preemptive strikes on the quality of healthcare with new recommendations for breast exams and cervical cancer screenings. The Democrats are also floating the idea of charging higher rates for overweight individuals. They want to kill Medicare Advantage and cut hundreds of billions of dollars from Medicare.

There will be massive tax increases starting in January 2011. Even though the unemployment rate will still be very high, these tax increases could very well stifle any recovery efforts.

Let's not forget about the other pending legislation the Democrats have in store for us. There's the Cap and Trade bill that would dramatically increase energy costs. With a very weak economy and a high degree of unemployment, a huge increase in energy costs would make everything far worse. There's also the amnesty bill that's looming out there. The Democrats want to give some 14 million illegal aliens amnesty. This country has never recovered from the amnesty bill that president Reagan signed in 1986 that led to a massive increase in illegal border crossings. That had a devastating impact on education in this country as special ESOL classes had to be created. It strained school budgets and average national reading scores began to decline.

Only a public outcry can change the future of this great nation. We can demand measures be taken to reduce healthcare costs like tort reform and national competition for insurance companies. We can demand that cap and trade be killed in Congress. We can demand an end to amnesty efforts and that our borders be protected. We can demand that existing laws be enforced so that Americans can have a better chance to be employed.

There's something else going on that might make this seem like the golden age by comparison. The stock market is up, along with gold, and the dollar is down. The only reason the market is up is because of a weak dollar and rock bottom interest rates. The resulting carry trade is causing commodities and equities to increase in value but this is what Roubini calls an asset bubble. That bubble will pop the moment interest rates start to climb and that will probably happen in the second half of 2010. For a really good explanation, see: Is This Another Bubble? - The Daily Beast.

Imagine what would happen in 2011 if the Democrats in congress get their way, all sorts of taxes go up, quality healthcare is a thing of the past, and we have the aftermath of an asset bubble pop. Would 2009 look like the Golden Age from that perspective?