Mr. Obama’s February budget provided the outline, but the House bill now fills in the details. To wit, tax increases that would take U.S. rates higher even than most of Europe. Yet even those increases aren’t nearly enough to finance the $1 trillion in new spending, which itself is surely a low-ball estimate. Meanwhile, the bill would create a new government health entitlement that will kill private insurance and lead to a government-run system.
Healthcare
Director’s Blog » Blog Archive » The Long-Term Budget Outlook
Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy. The following chart shows our projection of federal debt relative to GDP under the two scenarios we modeled.
via Director’s Blog » Blog Archive » The Long-Term Budget Outlook.
CBO: The Long-Term Budget Outlook
Measured relative to GDP, almost all of the projected growth in federal spending other than interest payments on the debt stems from the three largest entitlement programs—Medicare, Medicaid, and Social Security.
via Director’s Blog » Blog Archive » The Long-Term Budget Outlook.
DEM HEALTH RX A POI$ON PILL IN NY – New York Post
Congressional plans to fund a massive health-care overhaul could have a job-killing effect on New York, creating a tax rate of nearly 60 percent for the state’s top earners and possibly pressuring small-business owners to shed workers.
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor’s Business Daily — It’s Not An Option
The healthcare (or lack thereof) must be defeated! Call your senators.
It didn’t take long to run into an “uh-oh” moment when reading the House’s “health care for all Americans” bill. Right there on Page 16 is a provision making individual private medical insurance illegal.
Democrats want to impose “surtax” to finance health care – WSJ.com
A new study by the Kaufman Foundation finds that small business entrepreneurs have led America out of its last seven post-World War II recessions. They also generate about two of every three new jobs during a recovery. The more the Obama Democrats reveal of their policies, the more it’s clear that they prize income redistribution above all else, including job creation and economic growth.
via Democrats want to impose “surtax” to finance health care – WSJ.com.
YouTube – Rep. John Fleming Health Care Resolution
Obama & Crew: Excellence Versus Nothing – HUMAN EVENTS
It is no wonder to me why President Obama believes and does what he does: he has zero experience in the private sector, zero executive experience, and even very limited experience in government.
It’s Now or Never on Nationalized Health Care – HUMAN EVENTS
One of the most basic precepts of medicine is that you cannot effectively treat the problem until you get the diagnosis right. Yet Democrats have terribly misdiagnosed the disease in American health care. As with nearly everything, they have decided the problem in our health care delivery system is a shortage of government intervention.
via It’s Now or Never on Nationalized Health Care – HUMAN EVENTS.
Of NICE and Men – WSJ.com on Obamacare (or lack thereof)
The NICE precedent also undercuts the Obama Administration’s argument that vast health savings can be gleaned simply by automating health records or squeezing out “waste.” Britain has tried all of that but ultimately has concluded that it can only rein in costs by limiting care. The logic of a health-care system dominated by government is that it always ends up with some version of a NICE board that makes these life-or-death treatment decisions. The Administration’s new Council for Comparative Effectiveness Research currently lacks the authority of NICE. But over time, if the Obama plan passes and taxpayer costs inevitably soar, it could quickly gain it.