Defunding Obamacare: GOP Is “Playing with Fire”

[Mariahxxx]

yes but the law requires matching cash

 

[Rey C.]

In a case where banks would be required to hold 100% reserves, there would be zero incentive for them to hold deposits. That's money that they could not lend out and only hold in vaults... and also have to pay interest on. There is no profit to be made from doing that and no business case for that. They'd be better off refusing to take deposits and just borrowing funds on the open market and attempting to find credit arbitrage opportunities. People who are unable to maintain high balance accounts are already being forced out of banks due to pricing and fees. This would probably kill it off for them totally.

 

[Master Roshi]

In a case where banks would be required to hold 100% reserves, there would be zero incentive for them to hold deposits. That's money that they could not lend out and only hold in vaults... and also have to pay interest on. There is no profit to be made from doing that and no business case for that. They'd be better off refusing to take deposits and just borrowing funds on the open market and attempting to find credit arbitrage opportunities. People who are unable to maintain high balance accounts are already being forced out of banks due to pricing and fees. This would probably kill it off for them totally.

the banks have been too reckless with their high risk gambling with depositors' funds (no more glass steagal) and considering the mega banks (goldman sachs, JP morgan chase, bank of america, hsbc etc.) are the primary owners of the private federal reserve bank of NY which currently holds over 4 trillion in profits due to their ability to monetize debt and charge ridiculous interest rates to loan money, they are not going broke anytime soon, IMO state banks should be implemented in all 50 states, look at N Dakota's numbers, financially the state is in good condition and has been for many years, you see the problem with opening up honest, efficiently run state banks is the mega banks would eventually be cut out of the picture which they would never allow, anyone interested should look into every state's CAFRs (comprehensive annual financial reports), the money in these funds totals in the billions but the mega banks have the money this money locked up for a "rainy day" well it looks like its starting to rain SMH

 

[Mayhem]

Government Shutdown Leaves WIC Recipients In North Carolina Without Baby Formula

http://www.huffingtonpost.com/2013/10/10/government-shutdown-wic_n_4073146.html?ref=topbar

Chelsea Combs heard through Facebook she'd have to find a new way to buy baby formula this month.

The North Carolina Department of Health and Human Services said Tuesday it would stop issuing vouchers for the Special Supplemental Nutrition Program for Women, Infants and Children because of the federal government shutdown.

The department said 80 percent of the state's WIC clients had already received their benefits and could redeem them at stores for the rest of the month. But Combs and her baby are among the 50,000 or so who hadn't picked up their vouchers yet. Combs missed the press release.

"I got no actual notification from anyone," the 21-year-old nursing student said in an interview. Combs has two cans of formula in the cupboard and had planned to pick up WIC vouchers for seven more cans next month. She said she and her husband, who works full time for a builder supply company, will eat more Ramen noodles or reach out to a private charity for help if the shutdown continues.

"People who really do need help are getting it taken away because Congress can't come to an agreement," the Wilmington resident said, flabbergasted. She spread the word on Facebook and said a "friend" told her in response that she should have gotten an abortion.

"I just wanted to tell somebody," she said.

The $7 billion program serves 9 million moms and babies nationally who are poor and at "nutrition risk" because of medical problems or difficulty meeting dietary guidelines. It is one of the only safety net programs affected by the shutdown.

Last week four other states said they'd have to halt WIC benefits, but then reversed themselves after the U.S. Department of Agriculture freed up contingency funds to keep the baby formula flowing through October.

But that wasn't the case in North Carolina, where the announcement on Tuesday that it would stop issuing vouchers came as a total surprise to welfare experts who'd been watching the shutdown. The state blames the federal government. "Some of our most vulnerable citizens, pregnant and breastfeeding women, infants and young children, will be affected by the interruption of WIC services due to the federal shutdown," Aldona Wos, director of the state Department of Health and Humans Services, said in a statement.

Shakila Lewis of Durham said she'd only heard a rumor about WIC benefits stopping before a scheduled appointment at a WIC office on Wednesday.

"When I got there pretty much they were like, they weren't issuing out any more vouchers," Lewis, 27, said in an interview on Wednesday afternoon. "They told us they could put us on a waiting list until the shutdown was over. There was a lot of upset people out there today."

Lewis, who is a nursing student and part-time home health care aide, said she thought it was ridiculous the government shutdown would actually take food from a baby. The program provides separate vouchers for healthy adult food and baby food.

"They could have took the vouchers away from us –- we can get the stuff we need," Lewis said. "At least leave the vouchers for the babies."

 

[Jack Davenport]

Relax everybody. After a 2 day delay NC are issuing vouchers again. Thank god! All my baby mamas were bugging the shit out of me.

 

[rjdogma]

republicans are more concerned about the WW2 memorial than about feeding the needy.

 

[Master Roshi]

good video breaking down the costs of healthcare