Health care bill passes senate (HR 3590)
Mar 21, 2010 Federal Reserve, barack obama, economy, financial, news, politics
What a historic day. Today, in the halls of congress, our Senators drove the last nail in the coffin of the US economy. It is logical to believe that since the government has never been correct in their cost estimates, the health care bill, also known as the Patient Protection and Affordable Care Act, will cost hundreds or even thousands percent more than estimated. In 1966, Medicare was estimated to cost $12 billion per year in 1990. Instead, it cost $107 billion, and today costs $408 billion per year. The Iraq war was estimated to cost $50-$60 billion, and today has cost more than $713 billion – and rising. Why should we believe that this health care bill will be any exception?
If indeed the true cost of the health care bill follows the historical pattern, we could see $10 trillion or more added to the already staggering $12.67 trillion. Tax receipts will not even pay for the interest on public debts. We are already at a point where even if the government taxed Americans 100% of their income, it would not be enough to balance the budget. Rather than taxing Americans 100% of their income, or cutting 100% of spending and entitlement payments such as Medicare, Medicaid, and Social Security, the government will more likely keep borrowing money from the federal reserve in order to monetize the debt – which will cause hyperinflation.
Expect double digit inflation by 2014. This is the new reality – no more fun and games America!
Tags: barack obama, economy, Federal Reserve, financial, health care bill, hr 3590, news
Big sister is watching you, health care propaganda
Oct 8, 2009 barack obama, investing, news, politics, trading
This is old news to some, but on the official white house blog, Linda Douglass, the communications director for the White House’s Health Reform Office, wants for you to report your neighbors to flag@whitehouse.gov if something they say sounds “fishy” regarding Barack Obama’s health insurance reform. The blog post features a video in which Linda Douglass uses Drudge Report as an example of what is misinformation. The Drudge Report linked to a video in which Barack Obama explains how his health care plan will eliminate private insurance. I’ve seen the video, and Obama clearly states that he happens to be “a proponent of a single payer universal health care plan”. How Linda Douglass thinks that statement could be interpreted in any other way, I’m not sure. Granted, in the video, Obama doesn’t really explain how his health care plan will eliminate private insurance, but he hints that he would like to see private insurance plans be phased out over the next 15 to 20 years and replaced by a single payer plan.
