Given those hurdles, which include a suicide pact with financial health for small businesses that obviously can’t afford health care without risking the capital formation necessary, I think you have to put the double-dip recession back on the table.

Jim Cramer The Street.com writes:

Either the market doesn’t care that the health care bill will pass — and it will — or it doesn’t think that the proposal will cost that much — something I think is nuts. Which brings us to a very tenuous crossroad: We have to wonder if this is one of those occasions, like in 2008, where the market doesn’t see the coming catastrophe. Or perhaps the market sees any resolution as positive.

I don’t. I think when the health care bill passes — and it will pass, I believe, because Nancy Pelosi has worked diligently behind the scenes to bend the anti-abortion foes, the key votes, to her will — the president will get a second wind. That means the whole agenda — cap-and-trade, Card Check for easier organizing (something that Wal-Mart’s (WMT) inability to move even on its dividend boost tells you is coming) and amnesty for immigrants who are currently not citizens — will quickly come to pass, perhaps even before the election. To pay for these items I see a dramatic increase in ordinary tax rates and perhaps capital gains and dividend tax rates in 2011 either reaching or exceeding those ordinary income rates as this current version of the Democratic Party believes that only rich people own stocks. (That’s been a hallmark from Day 1 with this administration.)

Given those hurdles, which include a suicide pact with financial health for small businesses that obviously can’t afford health care without risking the capital formation necessary, I think you have to put the double-dip recession back on the table.

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