From The New Republic:
According to the CBO, enacting President Obama’s FY 2010 budget would yield annual budget deficits averaging 5.3 percent over the next decade, with a steadily rising trajectory after 2013 (“A Preliminary Analysis of the President’s Budget, March 2009, Table 1-4, p. 10). The administration has consistently argued that the key remedy for this unsustainable path is comprehensive health care reform-specifically, the cost containment measures for which universal coverage is the precondition.
The impressive analysis of “The Economic Case for Health Care Reform” issued today by the President’s Council of Economic Advisors (CEA) sheds new light on this claim. Some time ago, the administration set a goal of reducing the annual growth rate of health care costs by 1.5 percentage points, which is the maximum that most experts think would be feasible. According to today’s CEA report, if health care reform measures were able to achieve these savings in full, starting in 2010, the deficit would reduced by only 1 percent of GDP by 2020 (Figure 14, p. 26), leaving the deficit at nearly 5 percent of GDP. (By the way, few experts believe that the health care cost curve could be made to bend as quickly as the CEA analysis assumes.)
The conclusion is inescapable: to accomplish over the next decade what Treasury Secretary Geithner promised yesterday in Beijing, we will need a combination of spending restraints and revenue increases going well beyond what anyone has put on the table so far…(emphasis added)
Now, The New Republic – being The New Republic – implies that eventually someone in Obama-land will have to put forth the budget cuts and tax increases necessary to bring Obamunism in contact with reality. This is rather endearing – the way some liberals actually think there is rationality and honesty in anything a liberal politician is up to. Obama and Co simply don’t care about what is happening – all they want is the plaudits of the MSM, increased power and patronage for themselves and that feeling of accomplishment liberal politicians get when they are enacting vast, new spending programs. Doesn’t matter if Obama’s plans are not just false, but stupid – as long as they fulfill the needs of liberal politics, its all good. All Obama cares about regarding the actual effects of his policies is that they either help or at least don’t hinder his re-election bid in 2012.
If we have 50% unemployment in 2013, that is entirely ok, as long as Obama is President. Regardless of what happens, Obama will be lauded to the skies for all time to come by liberals and, I’ll bet, he’ll get a Nobel Peace Prize for something or other, and be proposed for UN Secretary General…Obama is set, as long as he gets re-elected in 2012 (the one nearly unpardonable sin in Liberalism is to lose an election – Carter took more than 20 years to climb out of the liberal blacklist after his loss in 1980; Gore had a quicker rehabilitation because he was smart enough to latch on to the latest fad – global warming – while also having people argue that he didn’t really lose).
Our only hope is to secure enough representation of the people in Congress to thwart the worst aspects of Obamunism. In 2010, we’ll have our chance to take back at least a lot of influence in Congress – if we fight hard and elect people who are of us and for us, we’ll soon have policies designed to help us, rather than help liberal leaders and their pet interest groups. The ball is in our court, and we’ll see what we do with it.
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