Tag Archive | "policymakers"

Why Seniors Fear GOP Medicare Plan

The Republican’s plan to privatize Medicare is steering fear on most of the country’s senior citizens.

Walter Dotson, 72, for example knows that the plan would not touch his benefits, but is afraid for what it might bring for his grandson’s future. Dotson, who is raising his high school sophomore grandson, said that he’d hate to see his kin be slashed of all the health benefits he is enjoying today.

The loudest and strongest objection on the GOP Medicare plan are coming from the seniors’ sector as they complain during town-hall meetings and even in the congressional elections last year.

A lot of experts say that the policymakers responsible for the GOP overlooked an all-encompassing trait among the seniors – their concern about the succeeding generations.

One other thing that bothers the seniors so much is the fear that the budget may be hazed with self-interest. If the Congress can do such a drastic change on the health care system of future retirees, many asks what is the assurance that they won’t come back and apply the Medicare plan to everyone who are currently in the program.

The budget that House Republicans passed a few weeks ago aims to remove Medicare and replace it with a government payment to purchase private insurance for people age 65 in 2022. Although dubbed as bold and visionary by others in Washington, many oppose the plan around the country.

Although seniors are exempted from this plan, economist Alice Rivlin said that they are not just thinking about themselves. They want to be guardians of the policies that can affect the children of their children.

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Euro on 2-Month Dollar High While Stocks Linger

The euro wandered back from two-month highs in opposition to dollar on Monday as traders reported recent profits amid the evidence that the eurozone economy has commenced the year at a moderate pace towards recovery.

Stocks changed narrowly in front of a new batch of earnings, particularly out of the United States despite the expectations that China will shortly tighten monetary policy to put a stop on rising inflationary pressures.

However, the most significant developments in the market are centered on the euro currency that recently reached $1.3646, which is its highest rate since November 22. The increase proved to be a sign for investors to reserve some recent gains. Two weeks ago, the euro was trading at $1.2875, which is its four-month low.

The euro’s increase is a result mainly of the declining concern over Europe’s debt crisis despite the signals from policymakers that a widespread agreement is currently discussed which will help raise their firefighting powers, as well as financial muscle.

According to David Bulk, markets analyst at BGC Partners, bonds have responded positively as the EU continues to try to adopt a more united front towards sovereign debt issues. The data released on Monday further proves that the entire eurozone economy continues to grow at a reasonably steady pace.

But, while the headline figures represent that the eurozone economy is in a fairly good condition, they cover wide differences between countries. Germany, which is Europe’s biggest economy, continues to power ahead while other countries such as Ireland, Greece and Portugal lag behind as their governments continue painful sternness programs to put their public finances in good shape.

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