Skip to comments.Another $17 trillion surprise found in Obamacare
Posted on 03/30/2012 10:00:53 AM PDT by Nachum
Senate Republican staffers continue to look though the 2010 health care reform law to see whats in it, and their latest discovery is a massive $17 trillion funding gap.
The more we learn about the bill, the more we learn it is even more unaffordable than was suspected, said Alabama Sen. Jeff Sessions, the Republicans budget chief in the Senate.
The bill has to be removed from the books because we dont have the money, he said.
The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the laws supporters about its compliance with the Constitutions limits on government activity. If the court doesnt strike down the law, it will force taxpayers find another $17 trillion to pay for the increased spending.
The $17 trillion in extra promises was revealed by an analysis of the laws long-term requirements. The additional obligations, when combined with existing Medicare and Medicaid funding shortfalls, leaves taxpayers on the hook for an extra $82 trillion in health care obligations over the next 75 years.
(Excerpt) Read more at dailycaller.com ...
Bottom line is we cant have another government program. They cant manage their books. Charities can manage their books. So creating a voluntary mechanism and incentive for people to send their money to charities that help the health care problem makes a lot more sense.
This is mirse. Your idea sure sounds like something we should try.
17 trillion will buy you a dozen Chevy Volts, electricity not included.
I second your thoughts. I will NEVER vote for the evil mitt.
Anyone who votes for mitt because "he is better than Obama" are utterly delusional. The end game with mitt is exactly the end game with Obama
The sooner we hit bottom, the sooner we can restore our Constitutional Republic.
No one said they were done ... though they do have at least one Justice on the Supreme Court who would probably entertain a constitutional challenge to being made to read it all.
$1 trillion dollars
multiply that times 82!
Romney is ANTI-AMERICAN!!
EVERYTHING we stand for and believe in - he is AGAINST!
He isn't incompetent - HE IS DELIBERATE!! And that IS already known. We don't have to wait till the future to know it.
Just to give my FRiends an idea of what it's like to read legislation, here is one of the 2700 pages:
SEC. 1102. REINSURANCE FOR EARLY RETIREES. (a) ADMINISTRATION. (1) IN GENERAL.Not later than 90 days after the date of enactment of this Act, the Secretary shall establish a temporary reinsurance program to provide reimbursement to participating employment-based plans for a portion of the cost of providing health insurance coverage to early retirees (and to the eligible spouses, surviving spouses, and dependents of such retirees) during the period beginning on the date on which such program is established and ending on January 1, 2014. (2) REFERENCE.In this section: (A) HEALTH BENEFITS.The term health benefits means medical, surgical, hospital, prescription drug, and such other benefits as shall be determined by the Secretary, Deadline. Time period. whether self-funded, or delivered through the purchase of insurance or otherwise. (B) EMPLOYMENT-BASED PLAN.The term employment- based plan means a group health benefits plan that is (I) maintained by one or more current or former employers (including without limitation any State or local government or political subdivision thereof), employee organization, a voluntary employees beneficiary association, or a committee or board of individuals appointed to administer such plan; or (II) a multiemployer plan (as defined in section 3(37) of the Employee Retirement Income Security Act of 1974); and (ii) provides health benefits to early retirees. (C) EARLY RETIREES.The term early retirees means individuals who are age 55 and older but are not eligible for coverage under title XVIII of the Social Security Act, and who are not active employees of an employer maintaining, or currently contributing to, the employmentbased plan or of any employer that has made substantial contributions to fund such plan. (b) PARTICIPATION. (1) EMPLOYMENT-BASED PLAN ELIGIBILITY.A participating employment-based plan is an employment-based plan that (A) meets the requirements of paragraph (2) with respect to health benefits provided under the plan; and (B) submits to the Secretary an application for participation in the program, at such time, in such manner, and containing such information as the Secretary shall require. (2) EMPLOYMENT-BASED HEALTH BENEFITS.An employment- based plan meets the requirements of this paragraph if the plan (A) implements programs and procedures to generate cost-savings with respect to participants with chronic and high-cost conditions; (B) provides documentation of the actual cost of medical claims involved; and (C) is certified by the Secretary.
And make sure you check out the referenced portion of the Social Security Act and ERISA to understand the references! (There are indentations used, but in the interest of keeping it to one screen ...
How many divisions does John Roberts have?
$17 trillion would be $1000 bills stacked 1,139 miles high.
The highest current US denomination is $100 ... which would make your stack 11,390 miles high assuming there is very little compression from the weight of the money ... $17T in used hundreds would weigh 340,000,000 lbs using the drug dealer counting “shortcut” of 20# per million in hundreds.
It appears we are gaming for the same for a replacement less the current political savvy.
I believe it!
If sh!t is the choice against sh!t, what is the advantage?
We have to pass the bill so that you can, uh... find out what is in it.
As I’ve been saying,
“Just like a stool sample!”
LOL...we have a winner :)
That’s the really scary part of it: he’s not incompetent.
HE KNOWS EXACTLY WHAT HE’S DOING. EVERY ALINSKY-PIVEN-LENIN-STALIN-SOROS STEP OF THE TREASONOUS PATH IN DESTROYING AMERICA. (JMO)
Quadrillion, Quintillion, Sextillion, Septillion
A Trillion is 10 followed by 12 zeros. A Septillion is 10 followed by 24 zeros.
The total miles from one side of the universe to the other is estimated to be about 90 sextillion miles.
US budgets in trillions of dollars is as insane as trying to row a boat from one end of the universe to the other.
And now that we know, we have to kill it.