Damon Darlin makes some interesting points:
Could it be possible that you are saving too much for your retirement?
Such an idea would fly in the face of almost every exhortation to a nation of spendthrifts that saving more is an imperative. After all, even as people are living longer, corporate pension plans and Social Security can no longer be relied on to ease most Americans through their retirement years. Fidelity, the nation’s largest provider of workplace retirement savings plans, says the average 401(k) account balance is only $62,000.
Beyond that, the national savings rate — the difference between after-tax income and expenditures — is actually negative, government statistics show.
Nevertheless, a small band of economists from universities, research institutions and the government are clearly expressing the blasphemy that many Americans could be saving less than they are being told to by the financial services industry — and spending more — while they are younger. The negative savings rate, they say, is wildly distorted.
A proposal by Gov. Jim Doyle to spend $30 million to help fund electronic medical records systems is just a “drop in the bucket” of what it would take to enable all of the state’s health-care providers to access patients’ histories at the push of a button, medical experts said.
Doyle said Thursday that he wants to create a $20 million grant program to help nonprofit organizations transition from paper documents to technology he says will reduce medical errors and improve quality.
Another $10 million in tax credits would go to for-profit hospitals and doctors to help cover the cost of their transition.
Cullen’s article rightly points out that the “$30M is a drop in the bucket” in a system with billions flowing through it (I don’t think they need a subsidy). Creating another layer of tax redistribution (from payroll and income taxes and fees) for state incentives and health care system funding, given the many other state spending priorities, not to mention the $1.6B structural deficit, is misquided. I wonder who is behind this?
Link Hoewing discusses electronic medical records from Verizon’s perspective (Verizon is installing Fiber broadband to the home in many markets, unlike AT&T).
Michelle Maynard speaks with new Ford CEO Alan Mulally. Interesting.