Health Care Reform Celebrates Six Month Anniversary

By Kyle LaFleur - Talk Radio News Service

Secretary of Health and Human Services Kathleen Sebelius along with Senate health and finance leaders held a press conference today in Washington, D.C. to celebrate the six month anniversary of the passing of comprehensive health care reform and mark the day a number of provisions take effect.

“As Senator Harkin said, today is the day that the worst abuses of insurance companies come to an end in America,” said Sebelius, “It’s long overdue for millions of Americans who now will have some peace of mind and some health security.”

Sebelius was joined by Sens. Tom Harkin (D-IA), Chris Dodd (D-CT) and Maria Cantwell (D-WA) as they outlined some of the benefits consumers will begin seeing after today. The Senate trio touted provisions of the bill that took effect today which included banning insurance companies from denying coverage to those with pre-existing conditions and increasing the age young adults can remain covered under their parents’ plan from 23 to 26.

“I worked very hard to include in the health reform law a sharp emphasis on wellness and prevention, keeping people out of the hospital in the first place,” Harkin said. “This is good for the health of the American people and it’s our best bet for bending the cost curve downward in the years ahead.”

Obama’s healthcare reform bill has received criticism from Republicans who, as recently as today in their “Pledge To America,” vowed to repeal the plan. The bill has also remained unpopular with the American people even with the government’s addition of a website in July to help clear the air on the reform.

“I realize it’s still not popular with most Americans unfortunately but I will tell you, it will make a difference and already is in the lives of most Americans and that is what really counts to all of us here,” said Dodd.

Sanders Defends Amendment To Audit The Fed

Sen. Bernie Sanders (I-Vt.) insisted on Friday that his amendment within a Senate financial regulatory reform bill to audit the Federal Reserve (Fed) would not grant Congress the authority to set monetary policy.

“That was not my intent,” Sanders said to reporters.

Sanders’s effort received a huge boost last night when he was able to strike a deal on the amendment with Senate Banking Committee Chairman Chris Dodd (D-Conn.) Under the agreement, the Government Accountability Office (GAO) would be authorized to perform a full audit of the Fed, going back to December 1, 2007. If the bill is signed into law, the GAO would be required to publish its findings online no later than one year after the law is enacted.

Most analysts say the amendment is not too radical of an idea. Sanders, on Friday, said it’s really just a matter of bringing about common-sense transparency to the financial system.

“The American people have a right to know what [Fed Chairman] Ben Bernanke has refused to allow them to know,” said Sanders, who admitted that the Chairman “is not one of my best friends.”

Indeed, the powerful banking agency along with firms on Wall Street are aggressively pushing back on the provision. Earlier this week, Bernanke wrote a letter to Dodd urging him to strip the amendment from the bill. But with Dodd -- the bill’s author -- as well as conservative South Carolina Republican Jim DeMint both saying they support Sanders, the measure looks like a safe bet to end up in the final Senate bill. Now, the question becomes whether or not it will survive a potential conference committee.

“Some of [the House bill’s] language is stronger that what we have, some of our language is stronger than what they have,” said Sanders, adding that the only thing on his mind right now is getting the 60 votes necessary to move forward on the legislation.

Time To Act On Financial Reform Is Now, Says Dodd

Citing the urgent need to repair the nation’s ailing financial system, Sen. Chris Dodd (D-Conn.) unveiled his own financial regulatory reform plan on Monday.

Dodd, who presides over the powerful Senate Banking Committee, said although a package he had been working on with fellow committee members Richard Shelby (R-Ala.) and Bob Corker (R-Tenn.) was close to being finished, he decided he could no longer wait for them to help put forth legislation.

“Nearly seven million have lost their homes to foreclosure over the last several years. Millions more have lost their retirement funds or their small businesses...Americans are frustrated...and they wonder if anyone is looking out for them...It is certainly time to act.”

In an attempt to prevent future collapses of both the housing and credit markets, Dodd’s plan would do four main things: First, it would abolish the belief that certain banks and financial institutions are “too large to fail,” ensuring that taxpayers would not again be asked to help bail out firms that fall into trouble. Next, it would create a new independent consumer protection agency (CFPA) to serve as a watchdog over various financial products, and would also establish a council tasked with identifying threats to the nation’s economic stability. Finally, it would increase the transparency by which complex financial tools such as hedge funds and derivatives are regulated.

“The legislation I’m offering is comprehensive in its scope because the crisis it aims to solve is comprehensive in its scope,” Dodd said.

While the plan has bipartisan agreement on several of its provisions, Dodd acknowledged that it currently lacks bipartisan support. Additionally, Dodd hesitated to say that the plan would even receive the blessing of every Democrat on the committee.

There are a few reasons for this. First, lawmakers and outside experts are skeptical over whether housing the CFPA inside the Federal Reserve (Fed) is a good idea. Those skeptics argue that the Fed contributed largely to the economic decline, and thus should not be given increased authority. During his press conference however, Dodd insisted that the CFPA would be an independent body, under no command of the Fed.

Another area of concern for some is that smaller-to-medium-sized banks would be needlessly subjected to tightened regulation under the legislation. But Dodd assured that firms with assets valued at under $10 billion would be excluded from increased oversight.

“We must restore confidence and optimism in our economy, accountability in our markets and stability to our middle class,” he said.

The hardest part for Dodd will now, of course, be getting the votes necessary to pass his plan. With the debate over health reform having renewed an atmosphere of partisanship in Washington, Dodd’s legislation will probably be viewed as too politically risky by moderates and conservatives who face re-election this year. Yet on Monday, Dodd -- who has announced he will not be running for another term in office -- viewed the prospects of passage with an almost defiant sense of confidence.

“We will have financial reform adopted this year in the Congress of the United States.”

Michael Moore Delivers Stern Warning To Democrats

Filmmaker Michael Moore warned Congressional Democrats Tuesday that their re-elections could be at stake if they fail to deliver a public option and stronger financial regulation.

“When [voters] see a hypocrite ... they will be relentless in working against you, even if it means the Democrat doesn’t win,” Moore said during a speech hosted by the consumer advocacy organization Public Citizen.

“We’ll find Republicans who are smart enough to realize that the majority of Americans want universal health care,” Moore added.

Moore singled out Sen. Chris Dodd (D-Conn.) as one member of Congress particularly vulnerable to being ousted in 2010.

The filmmaker also criticized President Barack Obama’s handling of the health care reform debate.

“It saddens me when I see you, President Obama, out there stumping for health care reform. There is no enthusiastic support for your position,” Moore said. “The reason for that... is that you started with a compromise.”

“Anybody who's negotiated anything knows you don’t start with your final position,” Moore said. “You started in a place where you had no wiggle room.”

Moore directed the controversial documentaries “Bowling for Columbine” and “Fahrenheit 9/11.” His next film, “Capitalism: A Love Story,” will be released Friday.

Democratic Senators Praise Progress Of Health Care Reform

By Mariko Lamb- Talk Radio News Service

Senators Chris Dodd (D-CT), Tom Harkin (D-Iowa), and Barbara Mikulski (D-Md) praised the Affordable Health Choices Act that passed through the Health, Education, Labor, and Pensions Committee (HELP) Wednesday.

“We’re not going to sit with the status quo. We’re moving ahead with healthcare reform,” said Senator Harkin.

“[The bill] offers to fix what is broken in our healthcare system without ruining that which works in our nation,” said Dodd. “It offers every American choice, stability, and lower costs.”

Although the bill passed through the committee with a 13-10 vote, not one Republican member voted in favor of the legislation. Regardless, Dodd praised the Republicans’ contribution to the markup of the bill, which includes 160 Republican added amendments. “I know that some of our Republican friends don’t want to admit their contribution, but they made good contributions to the bill, and we listened,” he said.

“Now is the time to rejoice on what we’ve done, but the battle must go on,” said Mikulski. HELP’s Affordable Health Choices Act is expected to be merged with a healthcare bill by the Senate Finance Committee, which is under pressure from President Obama to release its version as early as next week.