Gallup Says Support for Healthcare Has Dropped Double Digits

11/10/2009, by Proloy Bhatta

HIGHLIGHTS

• Gallup: Only 29% in support of health care.
• Two-thirds of Americans say the new health care bill would either make little difference in their own health or make their situation worse.
• Obama has a 60% disapproval rating on handling the federal budget deficit.

Gallup conducted a poll of 1,008 adults nationwide on Nov 5-8 and found that just 29% would advise their member of Congress to vote for health care -- a drop of 11% since last month.

Gallup asked these same people whether they thought a new health care bill would make their own health care situation better or worse.

• Worse - 36%
• Not Much Difference - 31%
• Better - 26%

All in all, two-thirds of Americans think a new health care bill would either make very little difference for them or make their situation worse. Despite that, 41% said they believe the US health care system would be become better.

India is Praising the Health Care Bill

Published in the India Times today is an article about how Indian generic drug companies stand to benefit from the US health care bill.

Here is a snapshot of what was written in the article.

“The new people who will be covered under insurance are the poor and elderly. Hence, there will be an increase in consumption of low-cost drugs which is good for Indian companies,” Lupin CFO S Ramesh said.

According to the article, Indian drug exports are worth in excess of $1.5 billion.

Back Onto Stimulus and Jobs

As expected, unemployment has finally gone over double digits, 10.2%.

Earlier, the Obama administration stated that they had either saved or created 640,000 jobs with their stimulus programs. Considering the stimulus package was worth $787-billion, they spent a bit over 1.2 million per job. The stimulus helped out the big dogs -- not the average Joe. 1.2M per job is not a very efficient use of government money.

John Williams at ShadowStats.com is a must-follow economist that reports what he calls "Shadow Government Statistics". In his words, it is an alternative to the "biased and often-manipulated" statistics reported by the government.

Here is a graph of the money supply.

The fact that the money supply has doubled in the past year suggests the United States is en-route to massive inflation. Recent gains in the DOW are due to this. And the gold prices are going to soar -- even beyond its current record level of $1102 per ounce.

Bringing it All Together

In the CNN poll conducted Oct 30-Nov 1, Obama received poor marks in his handling of the federal budget deficit.

Americans are getting tired of the excesses of government spending and this is likely the reason they are against health care reform.