Economy

What is Obama Care and How Does it Affect Us?

April 2, 2012
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What is Obama Care and How Does it Affect Us?

President Barrack Obama is perhaps immortalized forever in American history with the passage of Obama Care or “Patient Protection and Affordable Care Act (PPACA)”, much like Bush Jr. , who is now famous for his legendary (perhaps insane) tax cut. What is Obama Care? I was recently wondering about it. Scanning through a lot of online material and videos later I somehow cracked Obama care. I am trying to bring my knowledge and judgement about this healthcare reform bill. I hop my ignorance and biased approach (if any) would be pointed out by informed readers. being born in a country where 98% of population are not insured for health, it’s difficult to fathom a state rule which dictates that every citizen should be covered under health insurance. What is the rationale behind this dictum? Let’s examine. We now pay over $7,000 a year for our insurance coverage (with $3,800 out of pocket maximum), even after employer subsidy towards the premium. This is too much money for most, to pay on yearly basis. Why then health insurance should be made mandatory? The answer lies below. Recently our close friend had a baby boy who unfortunately had to be placed in NICU for more than

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What If American Stores Stop Buying Chinese Imports?

August 22, 2011
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What If American Stores Stop Buying Chinese Imports?

This article is little unusual for a Monday, when the readership is at its peak. Generally, like other bloggers, I tend to publish articles on practical guidance or practice on Mondays. For once, let me go out of my way and write on an imaginary situation, a ‘what if ‘ kind of world where in US stores ‘Made in China’ goods will not be seen. A majority of stuff in big US departmental store chains is imported from China. (imports from other countries are negligible as compared to China). From pen to playbook, name a durable merchandise at a Wal-Mart or a Target and in all probability, it will be ‘Made in China’. Our Govt. can not take decision to put restriction on Chinese imports, because it will be against the order of international trade. But our stores could very well implement a ban. Now let’s get to the imaginary situation, if these big departmental stores stops importing Chinese goods, how the world will look like. The most immediate aftermath (till first 3 years) will be raised cost of living for us, the dishes and clothes will be costlier. In order for our kids to play, you have to shell out more money. Eventually total US savings will erode

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