Skip to comments.Greenspan: Obama's solution is inadequate
Posted on 08/02/2009 8:08:51 AM PDT by Cheap_Hessian
Alan Greenspan, the former longtime chairman of the Federal Reserve, said President Obamas promise of a deficit neutral health care bill is an inadequate solution to dealing with a growing deficit due in large part to the cost of Medicare.
We have to attack both the original shortfall and make sure we fund whatever new initiatives occur in the health care area, Greenspan said in an interview on ABCs This Week. Its not adequate to be strictly revenue neutral because theres a lot more to be done.
Greenspan said the health care reform plans that are currently on the table do not go far enough.
He also said that while financial collapse is off the table, another drop in housing prices could tip off another wave of foreclosures.
Greenspan did not predict a large drop, but said home prices had only temporarily stabilized.
It is possible that could get a second wave down, Greenspan said. Under those conditions, we would get a very significant change in the underlying confidence in the consumer area.
He said he is pretty sure weve already seen the bottom, and that theres an outside possibility the economy will recover sooner than predicted.
(Excerpt) Read more at politico.com ...
Remind me again ... which planet do this guy and his insufferable wife live on?
Ho-hum...this is the guy who pioneered the term Greenspeak. What is anyone to make of these comments?
“because theres a lot more to be done. Greenspan said”
Where’s the money, Alan? What money?
Boomers’ assets? WWII, Korea and Nam generations’ assets and money? Wealthy, offshore foundation assets of the Kennedys, Rockafellers, DuPonts, Heinzes, and Frank, Dodd, Schumer, Clinton, etc.?
Greenspan said the health care reform plans that are currently on the table do not go far enough.Which is code for...even if enacted as is, SOME Americans may still have SOME disposable income remaining.
Wow, senile Greenspan doesn’t think the Obama Care goes FAR enough to SOLVE the MEDICARE problem. BABY BOOMERS ARE you LISTENING.
They refuse to say WHAT they REALLY have in store for the MASSES. Come on if it’s so wonderful, spit it out, tell the truth.
There is only ONE way to stop MEDICARE, deny care for the disabled, and retired. TELL THE TRUTH!!!!!!!
Obama’s solution isn’t a solution, it’s more of the problem. But we’re not thoughtful elitists, so we can’t understand how raising taxes and debt are going to lower costs and reduce debt.
" . . . nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers, and destroyers press upon them so fast, that there is no resisting afterwards. The nature of the encroachment upon the American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour. The revenue creates pensioners, and the penshioners urge for more revenue. The people grow less steady, spirited, and virtuous, the seekers more numerous and more corrupt, and every day increases the circles of their dependents and expectants, until virtue, integrity, public spirit, simplicity, and frugality, become the objects of ridicule and scorn, and vanity, lusury, foppery, selfishness, meanness and downright venality swallow up the whole society." - John Adams
Further, it was not just the founding leaders who were well-informed about their constitution and approaching threats to its protections. By 1830, when the French jurist Tocqueville traveled America, he wrote admiringly of the citizenry, observing that even the backwoodsman was far more well-read and informed than those in other parts of the world, and that they understood their Constitution, and had with them a Bible and a newspaper. Today, with all modern means of communication, Americans possess little understanding of threats to their liberty and, thus, risk losing it to charlatans whose only goal is power.
Folks, this is your future under medicare which was over extended long before O Zero came on the scene. His plan: simple, cut benefits more, push medicare onto the states in the form of an expanded medicaid. Therefore, no more problem for the feds.
For those not on Medicare, Government Mandated and Provided Insurance will take care of everyone elses health benefits.
Next up, social security. Maybe they will tie it into some part of the unemployment insurance programs run by the states too.
Federal budget balanced, no out year problems and everyone has coverage, albeit at a sub sufficiency basis.
Welcome to fourth world status courtesy of the benevolent O Zero.
alan greenspan was inadequate too.
Why is this dinosaur being trotted out now? Why did Dem mouthpiece Stephanopolous select him for airtime? Whose agenda is he pushing? Does he agree with his insufferable wife that Americans are too stupid to know what’s in their own interest?
But at least he's consistent!
Obama is inadequate.
Medicare costs over $9000 per patient per year (as opposed to about 3000 a person in the free market). Imagine how great healthcare could be in this country if we could bring the cost-savings of the US government into the free market!
The most severe recession in at least five decades may be ending and growth may resume at a rate faster than most economists foresee, former Federal Reserve Chairman Alan Greenspan said.
We may very well have 2.5 percent in the current quarter, Greenspan said in an interview today on ABCs This Week program. The reason is there has been such an extraordinarily high rate of inventory liquidation that the production levels are well under consumption.