Obama says that free health care will fix that.
“…a broke federal government will have to either borrow more or curtail the level of coverage that the currently insured enjoy.”
Or in the alternative, restrict economic progress and sell natural resources for the debt…since America cannot sell its greatest commodity- ignorance.
VAT tax? That is one ugly, horrible, insidious tax. Wouldn’t it require a Constitutional amendment?
We’re broke, and we continue to drive industries out of the country, and we continue to refuse to do what we have to do to reduce our imported fuels. We’ve got vast oil reserves offshore, and vast oil shale reserves, and we won’t touch them. Meanwhile we’re getting ready to carbon-tax whats left of our industries to China.
People this corrupt and this stupid deserve the economic collapse that they are causing, but the catch is that I don’t and I’m stuck in the same boat with the rest of them. If they drive this Titanic onto the rocks I’m on the rocks along with the rest of them.
I know, I know I know how they'll do it - waving hand in air like 4th grader ...
Obama care will offer cheaper insurance rates than people are paying now. Companies will switch to ObamaCare in droves. But here's the catch - Insurance companies take in premiums but they have to calculate how much they'll have to pay out when employees in any given company get to an age when health problems become more common.
But ObamaCare won't do that.
They'll have a pot for the money - and when it drops in they'll grab it out and put in an IOU.
Just like they do with Social Security - and Medicare - and Medicaid.
It's against the law for an insurance company to do that - but the Gov can. Think Monopoly that can drive out real companies by underselling them - then when all the companies are broke - they raise the rates and put the screws to all kinds of care....
ping for later
Um, who is this "we"? Personally I see plenty wrong in robbing producers to force men to use stupid energy sources, or to give bad health care to ungrateful and improvident third parties. But I see nothing wrong whatsoever in paying interest to men who saved and provided the country with capital when it needed it. Yet Hanson pretends that spending on debt service is some sort of waste, and spending on middle class entitlements some great thing we should want more of.
Next point, it is a myth that the US debt is funded by foreigners. 2/3rds of the net new treasury debt issued since March of 2007 is in the hands of private US investors. In the crash, the savings rate rose from near zero to 7%, further reducing any dependence on foreign capital in the matter.
If men want to spend now and are willing to pay savers for it later, that is fine. If they spend on stupid things they should stop because the spending is stupid, not because they have to borrow to pay for it.
I am disgusted by the hatred of income from capital I see otherwise sane conservatives indulging in.
Hey, Biden! How’s that “spending to infinity for prosperity” working out? You traitorous lump of vomit!
mark
Otherwise...capital will wait out the Obama administrations...and a generation of poverty...