Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those…
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Some Potentially VERY Good Economic News

Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those with "skin in the game," and who likely possess the best perspective, are betting heavily on an upturn, as highlighted by Friday's Wall Street Journal:

Corporate insiders are buying stock in their own companies at a pact not seen in years, a sign they are betting on a rebound after a coronavirus-induced rout.  More than 2,800 executives and directors have purchased nearly $1.19 billion in company stock since the beginning of March.  That's the third-highest level on both an individual and dollar basis since 1988, according to the Washington Service, which provides data analytics about trading activity by insiders."

Here's why that's important:

Because insiders typically know the…[more]

March 30, 2020 • 11:02 am

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Rep. Paul Ryan: Costs of This Debacle Will Be High Print
By U.S. Rep. Paul Ryan (R-Wisc.)
Thursday, March 25 2010
Sky-rocketing health care costs are drowning families, businesses and governments in red ink - leaving millions priced out of the market and without coverage. This legislation - with its maze of mandates, dictates, controls, tax hikes and subsidies - pushes costs further in the wrong direction.

The legislative victory among Washington's political class comes at a high cost for all Americans forced to swallow this bitter pill.

This massive health care overhaul - a remake of one-sixth of our economy - will exacerbate the very problems this reform effort sought to address. It will dramatically alter our deteriorating economic and fiscal conditions for the worse and may irrevocably impair the American identity.

Sky-rocketing health care costs are drowning families, businesses and governments in red ink - leaving millions priced out of the market and without coverage. This legislation - with its maze of mandates, dictates, controls, tax hikes and subsidies - pushes costs further in the wrong direction.

Premiums in the individual market would rise from 10% to 13% for families. Our debt and deficit crisis - driven by $76 trillion in unfunded liabilities - would accelerate from the creation of a brand new entitlement and an increase in the federal deficit by $662 billion, when the true costs are factored in. National health expenditures will increase by an additional $222 billion over the next decade, according the president's own chief actuary, and $2.4 trillion in the decade after the new entitlement is up and running.

The passion against this intrusion goes beyond the mind-numbing numbers. Health care affects each of us in an intimate and personal way. The American people's engagement is driven by our deep aversion to the federal government's unprecedented reach into our lives. The entire architecture of this overhaul is designed, unapologetically, to give the government greater control over what kind of insurance is available, how much health care is enough and which treatments are worth paying for.

The massive expansion of the federal government into the personal health care decisions will drive providers out of business and force employers to dump their workers on to government-controlled exchanges. Because Washington doesn't approve, millions of Wisconsin seniors will lose their Medicare Advantage plans and millions more will lose the consumer-friendly high-deductible health plans they enjoy.

There is another personal cost to this deluge of new government spending and control. Wisconsin remains in dire need of sustained job growth and robust economic recovery. This legislation will hit our economy with $569 billion in tax increases - tax hikes that will hit workers, families and job-creators alike.

The true shame of this debate is that there are real problems in health care that need to be fixed. Almost a year ago, I introduced the Patients' Choice Act to fix what's broken in health care, without breaking what's working. I've spoken with Wisconsinites for years about patient-centered reforms that would make possible universal access to quality, affordable health care with the patient and the doctor - not the government or insurance companies - as the nucleus of the health care market. These alternatives were ignored by Democratic leaders in Washington - and the concerns from Wisconsinites and an engaged American public were dismissed by Washington's political class.

The yearlong partisan crusade - right through its ugly conclusion - revealed that this debate was never about policy but rather a paternalistic ideology at odds with our historic commitment to individual liberty, limited government and entrepreneurial dynamism. The proponents of this legislation reject an opportunity society and instead assume you are stuck in your station in life and the role of government is to help you cope with it. Rather than promote equal opportunities for individuals to make the most of their lives, the cradle-to-grave welfare state seeks to equalize the results of people's lives.

We must begin anew on mitigating the disaster from this health care debacle. Let's repeal the costly missteps before they hit with full force. Let's make certain we do not simply retreat to an earlier point on the same path to decline. Let's chart a new direction that will restore the promise and prosperity of this exceptional nation - and let's do it together.

U.S. Rep. Paul Ryan (R-Wisc.) represents the 1st Congressional District in Wisconsin.  This article was originally published in the Milwaukee Journal Sentinel on March 23, 2010. 

Question of the Week   
Which one of the following pandemics caused the largest number of deaths in the 20th Century alone?
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Quote of the Day   
 
"The city of San Francisco is forbidding shoppers from carrying reusable bags into grocery stores out of fear that they could spread the coronavirus.As part of its shelter-in-place ordinance, the California city barred stores from 'permitting customers to bring their own bags, mugs, or other reusable items from home.' The city noted that transferring the bags back and forth led to unnecessary contact…[more]
 
 
—Madison Dibble, Washington Examiner
— Madison Dibble, Washington Examiner
 
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