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...opposed to reform always trot out. Or, alternatively, you just have this bloated system in which we don't even try to make it rational, we just sort of live with what we have. And what I'm trying to suggest is, is that there's this huge space in between where we could make the system much more efficient, much more cost-effective, make people much healthier, and still not have to resort to some of the rationing that people are fearful of. But that - it does require changes in how we approach things...
...What of that experience speaks to this experience? Well, as you point out, the last time we did something of this magnitude was 1965. And the circumstances in some cases were similar, in some cases were profoundly different. Obviously LBJ had just won a landslide reelection and had huge majorities in the Senate and the House. We have the largest Democratic majorities since LBJ. But the way that Congress works is a little bit different today than it was then. LBJ had to negotiate with Wilbur Mills and a handful of other folks. I think that Congress is more splintered...
...believe that was? I guess my point is, is that you don't even get to those really tough decisions, you don't even have to get to those really tough decisions before you've already saved a huge amount of money and made people healthier and made sure that Medicare was solvent and bent the cost curve. I mean, there's 20, 25% of the cost - of the system that is wasteful right now, even before you get to tough decisions about end-of-life care...
...Harvard University. The center estimates that owner-occupied households spent $122.6 billion on remodeling and repairs last year, compared with $139.1 billion in 2007. And the scope of many projects is small compared to what it was, say, three years ago, when newly built homes, swimming pools and huge additions were more the order of the day than the current crop of bathroom renovations and refaced cabinets...
...Friday's violence occurred as prospects for China's steel industry are turning around. The government's $586 billion stimulus package has set off a massive infrastructure-building spree, creating a huge demand for steel. In June crude-steel production hit nearly 50 million tons - 6% higher than in the previous year, according to the World Steel Association, and close to an all-time high. "Demand has just exploded in the first half of this year as a result of the government's stimulus package and bank lending," says Jim Lennon, a Macquarie Bank analyst. "Steel demand is massive...