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10 Trillion Dollars

Saving $500 Billion?

Obama Budget in the Red before Health Care

If you like the Post Office you’ll Love ObamaCare

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10 Trillion Dollars

March 7th 2010 13:13

If Obama doesn’t stop printing and borrowing money, this is surely our fate

Saving half a trillion Dollars

Obama’s Budget in the red before Health Care

If you like the Post Office you’ll love ObamaCare

No Wealth

How to Bankrupt a Nation

President Karl Marx…A Love Story

Creating Wealth

Wishing Well

Constellation of Idiots

Whose fault is it?

Post Consumerism

How to Plunder a Nation

Selling Zero

The Most Corrupt Politicians in Washington

Dictionary of Dreams

It is better to be Drunk than Wasted

If you want to stop irrational exuberance then prohibit borrowing money for speculation. Prevent people from buying and selling things they don’t own and prohibit all governments and public pension funds from investing in anything but government bonds.

No More Blue Sky on Credit

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Posted By: Michael 2 - Category: No Category

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President Barack Hussein Obama claimed that he could save half a trillion dollars on Medicare. But Medicare is only one government program. In his 2011 budget Obama dealt with dozens if not hundreds of government programs. If he really is so good at ferreting out waste, fraud and abuse then surely there would be a multiplier effect when dealing with the whole budget. In fact, if Obama can really save $500 Billion on one program he should have been able to save over a $1 trillion on the federal budget as a whole so why didn’t he? Why was Obama’s 2011 budget $1.2 trillion in the red? Where did that deficit come from?

Perhaps there was no waste, fraud or abuse in the rest of the government. In fact, maybe Obama inherited from George Bush a federal bureaucracy that was so sound that it runs like a Swiss watch with 100% efficiency. In fact since, after a year of looking, Obama could find no waste, fraud or abuse in the non-Medicare part of the budget one wonders why we needed Obama or that much ballyhooed change at all. Surely a third installment of that movie Revenge of the Shrubbery: When Bushes Attack starring John McCain would have done just as well as Obama. That is, if there was no waste, fraud or abuse that Obama could find and cut out of the entire government apparatus. After all, George Bush ran the government for 8 years, surely he left some shoddy workmanship somewhere in federal government.

Makes you wonder if that $500 Billion that Obama claims he could save is vaporware, smoke and mirrors, illusory.

Obama’s Budget in the red before Health Care

If you like the Post Office you’ll love ObamaCare

No Wealth

How to Bankrupt a Nation

President Karl Marx…A Love Story

Creating Wealth

Wishing Well

Constellation of Idiots

Whose fault is it?

Post Consumerism

How to Plunder a Nation

Selling Zero

The Most Corrupt Politicians in Washington

Dictionary of Dreams

It is better to be Drunk than Wasted

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Posted By: Michael 2 - Category: No Category

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Obama Budget in the Red before Health Care

March 6th 2010 14:35

We have had a fair, self-administered test that tells us all we need to know about whether President Barack Hussein Obama can find and reduce the waste, fraud and abuse in Medicare that he claims. We know all we need to know about how good Obama would be in balancing competing interests, reducing costs and taking on one sixth of the American economy.

For the 2011 budget, Obama ran his own numbers on his own time and made his own cuts and funded his own spending priorities.

Even when Barack Hussein Obama got to use all the funny money and accounting tricks at his disposal, he could not present a balanced budget now, nor project one in the future.

Obama’s 2011 budget already spends $1.2 trillion more than the government will take in. According to the Congressional Budget Office, the national debt it will be over $20 trillion by 2020. The CBO says that Obama underestimated the deficit.

The Obama administration calculates that it’s policies will increase the national debt by $9 trillion in ten years. Critics say that if you take out the fuzzy math and budget tricks, the Obama debt increase will be more like $13 trillion in the next decade.

Obama has already signed into law a bill that raises the national debt ceiling to $14.3 trillion.

Some experts estimate that the US government has amassed over $56 trillion in unfunded liabilities. And this is before the government takes over health care. In order to pay for this your taxes would have to double. You bill comes to over $180,000 and so does everyone elses. This is the money the government owes for pensions, social security, national debt, etc.

Since the government does not even have to use the standards of the Federal Accounting Standards Boards, they can funny up the money any way they like. Another estimate of our indebtedness says we have at least $59 trillion in unfunded liabilities. Well at least the numbers are close.

Either Obama is right and he can truly cut $500 billion of waste, fraud and abuse out of the Medicare budget or Medicare dependent seniors must die when $500 billion is cut from muscle and bone because there really wasn’t that much fat.

No one has identified exactly where this $500 billion of waste fraud and abuse is. Rather President Barack Hussein Obama has given an example or two where money might be wasted and estimated or projected the rest of the savings. What we need to know then is just how good Obama is at projecting things. Do we have an example of where he has made financially based projections? In fact we do. The Obama administration enacted an economic stimulus package. Obama said that the stimulus package would keep unemployment below 8%. Unemployment actually went up to 10%

Fact Check on Stimulus Spending

Obama Wrong

Stimulus made it worse?

Is there any more evidence on the government’s ability to estimate costs. Yes. Cash for Clunkers. Their original estimate was that the program could be completed for $1 billion. After that estimate was quickly shown to be wrong, they three an additional $2 billion at the problem.

Government Track record

Obama has promised to run up trillion dollar deficits as long as he is president. Doesn’t that mean we are already out of money? Is he going to print the trillions of additional dollars and run up inflation or borrow them from China?

Well maybe our current government isn’t good at managing money, or making estimates or projections. Surely government did a bang up job of these tasks in the past:

In 1966 Medicare cost $3 billion. The House Ways and Means committee projected that the cost in 1990 would be $9 billion. The actual cost was $67 billion.

Different researchers have examined different aspect of Medicare costs but all of them peg the growth in to be at least 7 times higher than projected. Remember that the next time someone in government tells you how much Universal health care will cost in 10 years.

The government has over $50 trillion in unfunded liabilities before Universal Health Care comes in. Since we don’t know where all that money is coming from, where will money for health care on top of this come from?

To be entirely fair to government, health care is not the only place they have mismanaged costs, consider the list below. It was the US federal government lack of oversight and mismanagement of the first item in the list that bankrupted almost all the world economies.
1. Fannie Mae and Freddie Mac
2. Amtrak
3. Senate Restaurant
4. Medicare and Medicaid cost containment and control
5. Paying for social security over the next 50 years
6. Presenting a balanced budget every year
7. Reducing the Deficit to zero
8. Reducing the National Debt to zero.
9. The post office

There are no economic reasons to give the government more control over health care given that it has financially botched everything it has touched. Government healthcare is a political move not an economic one.

If Obama is trying to trash the dollar, destroy capitalism, and reduce the United States to a third world nation, he needs to do health care reform. Those who don’t want those things to happen must oppose health care reform.

ObamaCare promises to be more like the Post Office. No matter how much money we pay for postage they still run a deficit and now they plan to ration services by cutting out Saturday mail delivery altogether. We know that ObamaCare will be this way because any honest look at socialized medicine in other countries reveals extreme rationing. Cutting $500 billion off of Medicare as Obama plans is just the beginning. Just as under Euro Socialism, the sick elderly will spend most of the time waiting in line to die.

No Wealth

How to Bankrupt a Nation

President Karl Marx…A Love Story

Creating Wealth

Wishing Well

Constellation of Idiots

Whose fault is it?

Post Consumerism

How to Plunder a Nation

Selling Zero

The Most Corrupt Politicians in Washington

Dictionary of Dreams

It is better to be Drunk than Wasted

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Posted By: Michael 2 - Category: No Category

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If you like the Post Office you’ll Love ObamaCare

March 5th 2010 00:48

Just like ObamaCare the Post Office is talking about rationing service. And just like ObamaCare the Post Office has death panels. Saturday mail delivery is scheduled to die any day now

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