Drugs from Canada

You have to love the contradiction many in Congress have over the importation of drugs from Canada, my representative included. They favor letting US citizens buy the prescriptions in country where the government has set price controls while on the other hand not favoring price controls in our country. To me this seems utterly spineless!! You either support the idea of a government having the ability to set price controls or not.

If we are so in support of cheaper drugs that we support people going to other countriesThose in Congress do not dare cross big pharma and face losing campaign dollars, and they certainly don't want the US to have any type of socialist policy that would allow them to control the free market and business.

Instead, with a nod and a wink they want you to have the ability to get your drugs from a country that does control prices. So which is it??

Getting drugs from Canada is not a long term solution, because the pharma companies will start matching supply to the acutal needs of Candadian residents, eliminating any surplus available to US buyers. Which is why the Canadian gov't is looking to set up policy to ensure that Canadian residents are taken care of first.

We need real answers and real solutions to soaring drug costs.

The Medicare Pharmacy Benefit that comes online in January will do nothing but make the problem worse. Look at Forbes coverage of the MedicarePharmacy: Rx for Fraud (You need to sign up for a free id to read it online)

I will be on vacation the week of July 4th, I may be able to squeeze in a post or two, no promises! I am working on a piece regarding the 10 commandments Supreme Court decision, currently wading my way through thejudges opinions.

Thanks to Don H for the suggestion of calling this site "Sponge Rob Square Rants." But you are right, we better steer clear and avoid the lawsuit from Viacom.

Ranting on...

John Snow & Social Security

Quick email update...

John Snow was on Squawkbox on CNBC this morning. I was listening on the XM on the way to work. I am still feeling dizzy from all the spin he was throwing out. After tons of grilling by the Squawkbox team, all he could say was that Pres Bush was committed to SS reform, Private Accounts were the key to long term solvency and he supported the efforts of those in Congress with bills, but would not necessarilly support a particular bill or proposal. All he would say was that these were good, ideas, but when asked if the administratrion supported them, he would not go that far.

I was highly dissappointed that there was nothing more substantive!!

Ranting on...

Social Security

This whole social security debate has me a little befuddled. Social Security is an insurance policy, a social contract where you agree to contribute to the earnings, and in return you are guranteed enough money so that you are not living in a cardboard box eating out of trash cans when you become disabled or are in the waning years of your life.

One thing Social Security is not is a savings/investment plan. Those are called 401k or IRA plans. Or Heaven forbid, other personal savings!! With a net savings rate of 0% and people cashing out the equity in their homes to buy plasma TVs, I guess I shouldn't be so puzzled over people looking to the gov't to take care of them.

To me Social Security is like the insurance you have on your house or your car, you pay it dutifully, year to year, month to month in the event that God forbid you have to use it. No one in their right mind would expect that their homeowner's insurance would pay for finishing the basement, putting up that new fence, replace the air conditioner, buy a lawn mower or any number of other things that home owners face. Likewise you would not expect your car insurance to pay for an oil change, or to replace a timing belt or water pump.

So why do we expect Social Security to pay for the everyday things that we want, or to improve our lifestyle in retirement. Playing golf everyday, taking vacations/trips and eating out are not things that should be guaranteed in life.

Personally, I think it has to do with the "entitlement" mindset that I see running rampant around the country. I always hear people say, "I deserve this", "They owe me that!" To quote Colonel Potter...Horse Hockey! You go out and work hard and earn what for the things you need and want. At the end of the day you thank God for the opportunity to do it. This country was built on the concept of hard work, not entitlements. If you don't want to work, there are millions of people in other countries very willing to take your job. That is a rant for other day....


Private accounts only feed the "savings plan" mindset. If we could have private accounts on something, I would want it on auto insurance. Imagine if half your auto insurance premium went into a private account that earned interest, and if you did not use the money to pay for an accident, then you got it for the downpayment on the next car. I don't see it happening.

I am all for scaling benefits...If you have a couple million setting in the bank, that $12,000 from Social Security each year is not that important and you are definitely not in danger of pushing a shopping cart around town looking for handouts. To those with no savings, or high medical bills, that money is more than a lifeline.

Here are some links for more info on Social Security:

Good piece on dispelling some of the Social Security Myths at the Motley Fool

Social Security Network, contains articles, links, statistics and reports.

Until the next rant,