Free Republic

In case you missed it, the Obama administration challenged the Congressional Budget Office's ObamaCare cost predictions on Saturday. White House budget director Peter Orszag criticized the CBO after it issued a cost estimate that halted momentum for an independent Medicare panel that Obama wants. Orszag accused the CBO of exaggerating the future costs of the current proposal, which the CBO estimates at nearly $240 biilion over the next ten years. Yeah, because we all know that government programs regularly cost less money than expected, right? Not exactly. Turns out, CBO estimates are kinda like the first quote your mechanic gives...

"This is no time for ceremony. The question before the House is one of awful moment to this country. For my own part, I consider it as nothing less than a question of freedom or slavery;" "Should I keep back my opinions at such a time, through fear of giving offence, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the majesty of heaven, which I revere above all earthly kings. " "...it is natural to man to indulge in the illusions of hope. We are apt to shut our eyes...

Just how bad IS the new proposed legislation on so-called health-care reform for investors? Well, how much time do you have? Let's start with the price. This thing is going to cost trillions of dollars. And how do you think it's going to get paid for? Investors are going to get taxed. You are going to get taxed. It's that simple. The people without health insurance -- the very people whom this is supposed to help -- are going to get taxed too. And millions of them will be left without insurance (even though they have to pay higher taxes).

Big new taxes. Big new spending. Big new government. This seems to be the proposed cure for the Wall Street-inspired recession. The government now runs major banks and companies, and plans to take control of the American health-care system. And it aims to tax how energy in the United States is used to monitor carbon use. But wait! Recent financial rescue and stimulus plans, together with other new government initiatives, have already led to the largest dollar deficits in American history, projected to be near $2 trillion at fiscal year's end. Before some of these new proposals are even enacted,...