Its an economic catastrophe, boys and girls – a slow motion fiscal train wreck:
Not many people noticed amid the Democrats’ struggle to jam their health care bill through the House, but in recent weeks U.S. Treasury bonds have lost their status as the world’s safest investment.
The numbers are pretty clear. In February, Bloomberg News reports, Berkshire Hathaway sold two-year bonds with an interest rate lower than that on two-year Treasuries. A company run by a 79-year-old investor is a better credit risk, the markets are telling us, than the U.S. government…
…Democrats … may have been soothed by the Congressional Budget Office’s report that it would reduce federal deficits over the next 10 years. But bond buyers know that the Democrats gamed the CBO system to get a good score.
The realities, as former CBO Director Douglas Holtz-Eakin pointed out in The New York Times, are different. The real cost is disguised by the fact that the bill includes 10 years of revenue but only six years of spending. It includes $70 billion in premiums for long-term care that will have to be paid out later. It excludes $114 billion in discretionary spending needed to run the program. It includes nearly half a trillion dollars in unrealistic Medicare savings.
Holtz-Eakins’s bottom line: The bill will not lower deficits, but will raise them by $562 billion over 10 years. Treasury will have to borrow that money — and probably pay much higher interest than it’s paying now…
We’re already looking at $10 trillion in deficits over the next ten years – ObamaCare will increase this by at least 5%. Good job, Democrats! A bankrupt nation now has another massive, new spending program to cover.
Do you utter fools on the left have any conception of what you’ve done? In service to an antique ideal – things like government health date, as a concept, to the 1870’s – you have put the United States, already up to its ears in debt, further in the hole. And your predictions of improved care are just as stupid as your predictions of financial savings – go to the DMV: that is what health care will be like once ObamaCare is fully up and running.
Which is why we are going to repeal it – maybe not all at once, but in the by and by all that you have done to health care will have to be undone. There is simply no other way around it – we’re not about to destroy our nation because some dim wit of a liberal got a fixation about universal health care in college and won’t let facts or experience get in the way of a dream.
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