Posted on 03/16/2012 10:19:54 AM PDT by jazusamo
VIDEO AT LINK
Conservative economist Thomas Sowell is calling for the abolishment of the Congressional Budget Office (CBO) after it revealed this week that Obamacare may cost American taxpayers nearly twice the $940 billion it originally estimated -- $1.7 trillion over the next decade.
“I think occasionally the CBO does something that’s useful,” Sowell told Newsmax.TV in an exclusive interview. “But by and large, I think it should be abolished.”
In September 2009, President Obama estimated healthcare reform under the Patient Protection and Affordable Care Act would cost an additional $900 billion over 10 years. The CBO initially projected the cost at $940 billion.
Adding insult to injury, the CBO’s latest projections also indicate that some 3 million Americans will lose their employer-based insurance coverage. This comes despite the repeatedly assurances of the president and others that they would be able to stay on their current employer-based policies, if they wished to do so.
In the interview, Sowell says it is time to seriously consider whether the CBO has outlived its usefulness.
“It’s one of a number of federal agencies that give the public a sense of assurance in things where there is no assurance,” said the award-winning economist, who recently released a revised edition of his book “Intellectuals and Society.”
Sowell has long favored free markets, and objects to the tendency to prescribe and control consumer behaviors. He contends that bureaucracies often try to pick winners and losers in markets they are ill-equipped to understand.
(Excerpt) Read more at newsmax.com ...
“Dang! And I thought Dr. Sowell was perfect. :-) “
If he gets to 99.99.....well GIVE it to him!
Not to mention the whole WSJ crew and the other wall street characters on saturday morning. They were really bad in 2007. Eric Bolling, who is against amnesty and for real enforcement, came on Fox in 2008.
Media Matters said that Cavuto has an "anti-immigrant bias," but they ignore the pro-amnesty position of perhaps 90% of the Fox "business" characters.
That little monkey who owns Capitalist Pig was the worst : )
Sorry, but Fox has too many creeps working for them to dodge.
I stopped watching most of those shows when it dawned on me that anyone who saw things as I did, should say no when asked to appear on them.
All they do is set them up, and then allow the majority of the panel to frame them as racists or lunatics.
By going on they don’t get their own views out. Well they do, but it is frames as them making rants.
No all they do by going there, is make it much easier for the Left to marginalize them.
You got that right. Geraldo complaining that the Tea Party didn't have enough brown people ... Grrrr.
Do NOT try to blame this on Obama.
The CBO was legislated into exist by design to goal seek for whichever political party is in power and find justification for stealing vast sums from future American taxpayers and redistributing it to special interest blocs immediately and very wealthy creditors in the long term.
This story can be rewritten replacing “Obamacare” with “Medicare RX” and “Obama” with “Bush” and the story would be the same.
Not disagreeing with you. Why have a CBO at all?
Why have a CBO at all?
Sowell’s general problem is this...
He supports a balanced budget amendment.
To produce a balanced budget, there has to be accountants, actuaries and auditors in place to evaluate the profits and costs to the government on each line item of each proposed piece of legislation and executive and judicial branch’s adjustment to law.
Something would have to replace the CBO for this to happen, and the big 4 accounting firms have proven themselves completely corrupted over the last decade.
There is no institution in the world that has the institutional depth and integrity needed to audit the budget of the US Federal Government.
Even a return to a gold standard would not fix this if it didn’t also expressly forbid fractional banking of the real value of the gold reserves. but the modern economy would cease to function if that were made in to law.
Anything else I write would be all doom and gloom but you read that enough on FR. The thing about going bankrupt... Ernest Hemingway: “How did you go bankrupt?” Two ways. Gradually, then suddenly.”
“Ernest Hemingway: “How did you go bankrupt?” Two ways. Gradually, then suddenly.”
Well.....you cannot impeach his reasoning..: )
When? Nothing comes to mind.
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