Breaking News…

April 1, 2010, 5:00 am

Small Business Finance & Profitability

By William Stong

Washington, D.C.

In an unprecedented show of bi-partisanship, goodwill and efficiency, both Houses of Congress passed a new & improved comprehensive health care bill today. Working throughout the night, Republicans, Democrats and Independents revamped the original legislation based on input from their constituents, reducing the bill to a readable 186 pages.

Congress, 431 Representatives and 98 Senators, hammered out the reconciled health care bill that overwhelming passed on first votes, called at 5:15 a.m. 5:30 a.m. respectively this morning. The fifteen minute gap was to walk the approved House bill over to the sitting Senate—which allowed both Houses to vote on and approve exactly the same legislation.

Coverage

The bill expands insurance coverage to every U.S. citizen. Permanent residents married to U.S. citizens are also covered. All other legal residents of the U.S. may purchase insurance based on alien-group coverage pools.

Funding

Funds for this virtually universal health care program will come from current health insurance premiums, improved efficiencies, current malpractice insurance premiums, an 85% tax on frivolous medical lawsuit awards, and cost saves from moving every government employee and retiree onto the same program.

Financial Impact

Overall, the cost of health coverage in the U.S. will decrease, other taxes will not have to be raised, and the cost savings will be used to eliminate federal and state budget deficits and reduce national and state debt…

…April Fool’s!…

…unfortunately…

…but we can dream, right?

Bill

William A. Stong

Email: william.a.stong@gmail.com

SBF&P # 9-01-0006

Telephone: 925-202-6244