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Biotech / Medical : HRC HEALTHSOUTH -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (28)	10/28/1999 2:18:00 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 181

cbs.Marketwatch:There goes the surplusÿ( to health care ): ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ By Paul E. Erdman, CBS MarketWatch ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Last Update: 11:13 AM ET Oct 15, 1999 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ cbs.marketwatch.com ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ SAN FRANCISCO (CBS.MW) --ÿÿ The Washington Post has just ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ come up with estimates of how much the promises of presidential ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ candidates Gore and Bradley would cost us during the next ten years. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿ Beginning with the assumption that the surplus ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ during the coming decade will total around $1 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ billion (which does not include the surplus of $1.9 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ billion to be generated by "excess" Social Security ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ payments), they asked how much of this would be ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ eaten up by the new spending programs which ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Gore/Bradley have already proposed. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Answer: All of it. And then some.ÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿ The biggest itemÿÿÿ will be health care. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Bradley's universal health care proposal -- ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ estimated by his campaign to cost $65 billion annually -- would likely eat ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ up more than the 10-year total surplus. Simply adding a conservative 5 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ percent annual inflation factor would boost the cost to more than $800 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ billion, and analysts say his estimates for providing prescription drugs are ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ unrealistically low. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ And while Gore's health plan would cost much less, the Post says, when ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ combined with the other proposals he has made -- tax cuts, universal ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ preschool, and extra spending for defense, education and other programs ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ -- new expenditures would amount to as much as $1.25 trillion over the ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ next 10 years. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Now these estimates do not come from some ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ partisan think tank. To calculate the budgetary ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ impact of the initiatives, the (liberal) Washington ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Post consulted the nonpartisan Congressional ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Budget Office (CBO), and asked independent ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ budget experts to analyze the two Democrats' ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ campaign promises. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿ But it's not just Democrats. The Republicans in ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Congress are already pushing "emergency" ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ spending bills that would more than eat up the ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ current surplus. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ All this is very disturbing. Strong financial markets ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ here, and faith in the dollar abroad, are to a ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ substantial degree based on the view that much of ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ our trillion dollar surplus will be used to pay back ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ the national debt, resulting in ever-lower interest ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ rates. That's why Alan Greenspan consistently ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ speaks in favor of a massive debt payback. ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ If this assumption now proves to be an illusion, it cannot help but have ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ serious long-term negative effects on our economy, our financial markets ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ and our currency.ÿ