In this issue: The U.S. Debt Crisis | Legal Challenge to Obamacare | Health Care Compacts | Georgia Competitiveness Initiative | Join Today
The U.S. Debt Crisis
On May 16th, the federal debt hit the $14.3 trillion mark
, and has now exceeded the debt limit mandated by Congress. While Vice President Biden continues budget negotiations with members of Congress, no agreement has yet been reached. House Republicans have stated that they will not vote to raise the debt limit without a corresponding amount of cuts in federal spending, and voted down a “clean” measure that would have raised the debt limit without any spending cuts. Learn more...
The U.S. added $1.9 trillion in debt from 2009 to 2010, and in 2010 we spent $414 billion in interest on the federal debt. See the Budget Chart Book
for details on federal spending and debt.
Legal Challenge to Obamacare
On June 8th, the Eleventh Circuit Court of Appeals in Atlanta heard oral argument from lawyers for 26 states and the Obama administration on the administration’s appeal of the decision by Judge Roger Vinson to strike down Obamacare in its entirety. Georgia Attorney General Sam Olens issued a press release stating, “I am hopeful that the court will agree with Judge Vinson that the law must be struck down.” Learn more...
Georgia first to enact Health Care Compact
In an effort to block Obamacare, Georgia along with several other states is working to create health care compacts that provide solutions independent of the federal government. Stateline.org
explains how it works:
At least two states would agree to sign a joint agreement taking full responsibility for all health care policy within their borders. If the agreement is approved by Congress, the states that sign up would be given a block grant equal to the total of their federal health care funding for the prior year, including Medicare and Medicaid, with no strings attached. Other states could join later. The states would then work together or separately to develop homegrown health care policies that they believe meet their residents’ needs.
Governor Deal signed House bill 461 on April 20th
, making Georgia the first state to enact a law agreeing to join such a compact. Click here
to read the bill in its entirety. Oklahoma is the only other state to sign this type of legislation into law, with 14 other states proposing but not passing similar legislation.