Skip to comments.Obama: US would go bankrupt without health changes
Posted on 04/02/2010 4:52:25 AM PDT by Mr. Mojo
WASHINGTON (AP) - President Barack Obama says he did a full court press for a health care system remake because "this country was going to go bankrupt."
(Excerpt) Read more at apnews.myway.com ...
A year ago it was “If we don’t pass this stimulus package, unemployment may reach as high as 8%”.
It’s exceptionally difficult to make the case that the US is not going bankrupt; “health care reform” just speeds the process along.
I’m glad he fixed that problem. LOL.
Baloney. It's ALL about control. Nothing more. Funny, but this debacle doesn't go into affect for another 4 years, so were we going to "go bankrupt" before or after those 4 years were up?
The result of Afronomics taking the economy for a ride.
Then why doesn’t he or any Congressman/woman/staffer/federale man up and put his own money on the line by being part of the ‘Health Care’ law?
Put YOUR money AND YOUR LIFE where your mouth is.
(not to mention the lives of your families)
This country is going bankrupt and Health Control will make sure it happens sooner rather than later.
He’s also a filthy piece of trash muzzie socialist!
1) "We're broke."
2) "We need to spend a trillion more dollars on health care."
3) "If we don't spend a trillion more dollars, we'll end up broke."
ObamaCARE has nothing to do with healthcare improvement
or removing the degradation of medicine by lawyers.
Our President is a real laugh-riot.
Actually, I believe this could be true, but that we may go bankrupt anyway. I’ve heard we were weeks from becoming insolvent, hence the 4 years of taxing, with no benefit.
I heard that the funds that are being collected (starting soon), and the cuts in Medicare/caid, were going to try and float the scheme a little longer as there would be a panic and shorting of Treasuries after the announcement that Social Security is upside down, nearly a decade early. Could this actually have been a half truth...(I never believe we are told the full truth), in saying we would have gone bankrupt?
A hint of truth. They need the revenue to fund the debt. The “health” and “care” parts are a sham.
Pretty much. It's either he is insane, or we are all living in the Twilight Zone.
I concur, but you meant Trillion, not Billion, right?
Obamanation of Desolation wouldn’t recognize bankrupt if it rain him over like a locomotive. The imposter is a political organizer. That’s all he knows. He and his liberal buddies obviously know or care little about economics. All they know is political power and this is more intelligence-insulting, mind-numbing gibberish that he hopes will put America back to sleep. Let’s hope America doesnt.
I’m so sick of this president, I could scream. Evidently, I’m not alone.
Hannity had an Obama supporter (I think his name was Michael Meyers of the NYC Civil Rights something or other) who is an African-American gentleman (older) who sounded fairly fed up as well.
Hannity kept interrupting this fellow while he was making Hannity’s point, so I can’t give you more detail. Other than the guy was ticked off about Obama’s massive ego.
I seriously wish Hannity would allow the guests on his panel to talk without interruption. I KNOW what Hannity thinks. He is on the radio 3 hours a day!
Obozo should get him a lemonade stand and show he can run it profitably. He could fit what he knows about economics in a very small thimble.
Isn’t the simple question, who the hell is going to pay for all the handouts. Socialists always run head-on into this problem.
He hopes he can get enough Obama zombies to vote for him and destroy freedom in the process ... Sorry bozo, won’t work.
As usual Obama gets things exactly backwards.
In 1964, my father was repeatedly told that if he voted for Barry Goldwater instead of Lyndon Johnson for President the war in Vietnam would escalate. He went ahead and voted for Barry Goldwater, and you know what? The war in Vietnam escalated massively.
Obama will bankrupt the US with or without the Healthcare Bill.
Hey a Billion is like chump change to the 0bama regime these days. Hey, it's only a figure, right?
‘President Barack Obama says he did a full court press for a health care system remake because “this country was going to go bankrupt so i went ahead and did it for you.”
“There is a leaking hole in the bottom of the boat, so I am going to chop it out with this axe.”
Its true. And the Jews would have started ww2 if Adolph didn’t stop them. oh wait!
Sadly, I can only understand the concept of a Billion dollars, or a Trillion, on paper. To actually spend that amount of money is mind-boggling.
I could have spent more than a dollar a second since before birth, and never have spent a billion dollars!
Given the insane level of profligacy in spending by Congress and the President Soetoro is surely correct in saying the country would go bankrupt without his Health Reform. And the country will even more surely go bankrupt WITH his HC reform. The only way out of bankruptcy at this point is to start a real war against a major enemy while we still have a useful military.
I’m still waiting for obama to explain how we can offer the same level of health care to more people without rationing (and without tort reform!). Now this will all keep us from bankruptcy. Does he think we’ll believe it just because he says it?
Probably. But we’re likely to go broke with them as well.
(Hopefully sarcasm tags aren't required.)
>> Im so sick of this president, I could scream.
I’m so sick of him, I DO scream. Regularly.
>> annity kept interrupting this fellow while he was making Hannitys point... I seriously wish Hannity would allow the guests on his panel to talk without interruption.
Heh heh... If this annoys you about Hannity (which it should), I bet BORe drives you plum nuts.
>> The government has to spend its way out of debt. The reason it hasn’t worked so far is because we haven’t spent and taxed enough!!
Well, I’m sure you’ve heard that old saw, “You have to spend money to make money.”
In the Fed’s case, since pretty soon no one will LEND them any money, in order to SPEND money they’re going to have to “MAKE” money!
Fire up that printing press! We’re all gonna be BILLIONAIRES!
“Welcome to New Kenya! (Africa USA) Where the law of the jungle has replace the Law of the Land!
Bankruptcy = Fiscal Soundness. Welcome to 1984.
The US is going bankrupt ANYWAY. I trust Moody’s warning more than Obie’s hyperbole.
Health care costs will bankrupt the country, but Obamacare does nothing to reduce costs. In fact, adding another massive entitlement program, Obamacare, will make things much worse.
Only $2 billion?
Only if it's socialized.....which is what just happened.
We were going to go bankrupt without the stimulus, dealerships would go bankrupt without the bailout, and around we go...
Wow! What a liar he is!
Mr Obama might reconsider that if the government were not attached to healthcare, it would not be liable for its debts. By interjecting more government involvement in healthcare, now government is responsible for such inefficiencies and the buck stops with Obama. This implies if the economy tanks, it’s Obama’s fault and he is to be held accountable.
The government already spends 60% of the health care dollars in this country through Medicare (45 million recipients) and Medicaid (60 million recipients). Medicare represents a $38 trillion unfunded liability.
The Medicare HI trust fund, (Medicare Part A) has already started in 2008 cashing in its IOUs. By law, the USG pays 75% of all Medicare Parts B and D costs from the General Fund. Revenue only covers 25% of the costs. And by 2014, four years from now, 45% of all Medicare costs will come from the general fund.
"Medicare's financial status is much worse. As was true in 2008, Medicare's Hospital Insurance (HI) Trust Fund is expected to pay out more in hospital benefits and other expenditures this year than it receives in taxes and other dedicated revenues. The difference will be made up by redeeming trust fund assets. Growing annual deficits are projected to exhaust HI reserves in 2017, after which the percentage of scheduled benefits payable from tax income would decline from 81 percent in 2017 to about 50 percent in 2035 and 30 percent in 2080. In addition, the Medicare Supplementary Medical Insurance (SMI) Trust Fund that pays for physician services and the prescription drug benefit will continue to require general revenue financing and charges on beneficiaries that grow substantially faster than the economy and beneficiary incomes over time."
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