Monday, November 09, 2009

If health care bill just like Social Security and Medicare, how long until bankruptcy?

In looking at the news coverage of Saturday's vote on the Pelosi health care bill, nearly all reports include this statement:

"A triumphant Speaker Nancy Pelosi, D-San Francisco, likened the legislation to the passage of Social Security in 1935 and Medicare 30 years later."

And I just have to shake my head and wonder what happened to the brains these people were born with.

Why in the world would anyone liken this bill to two failing and bankrupt programs?

Do they not care that both Social Security and Medicare are insolvent and are paying out more than they're taking in? Do they not care that people who are paying into the system now are probably never going to see any benefit from those taxes they've paid?

Do they not understand that these two programs are just ponzi schemes that would put them into prison if they were in the private sector? As the Wall Street Journal reports:

The House also contains a new government long-term insurance program that starts collecting premiums in 2011 but doesn't starting paying benefits until 2016 and then runs out of money in 2029. North Dakota Democrat (Senator) Kent Conrad called it "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of" in an interview with the Washington Post in late October.(emphasis added)


Maybe they understand all this - and are doing it BECAUSE of these facts. After all, we've continued to let them. And the more people they put onto the programs, the more support they have for extending them.

Under these rules and outcomes, they expect the same thing with health care. They'll make Americans dependent upon the government for health decisions and can then make all the decisions for the American people. We let them do this with our retirement, so why not health?

And when we are dependent upon government - that is, the politicians - we'll vote for the ones who promise to give us more, even if there is no way to pay for it.

Eventually, there won't be anyone left to tax to pay for the 'free' services others are getting. Then what? Will the politicians just borrow the money from China? And what if China stops buying debt?

Ah, those pesky 'what if' questions that politicians avoid like the plague.

If this health care bill is just like Social Security and Medicare, you can be sure it is not sustainable, will result in higher taxes, have limited service and, eventually, will result in bankruptcy for the program.

Pelosi said so herself.


Side Note: The Wall Street Journal has a great take on this as well.

2 comments:

-Sepp said...

"Why in the world would anyone liken this bill to two failing and bankrupt programs?"

MAGGIE! They subscribe to an ideal thats been a dismal failure everywhere it's been tried...why would they NOT support a program destined for the same ash heap?

Tim Higgins said...

But Maggie, this health care plan is just like Social Security (and Medicare, and Medicaid, and ...)

None of these programs are permitted under the limited powers of government asdefined by the Constitution; and as you correctly point out, both are ponzi schemes which if not bankrupt already, soon will be.

Our lawmakers however, long since gave up the confines of the document that is supposed to limit their functions. Likewise, our Wimpy voters (I will gladly pay you Tuesday for a hamburger today) rejoice in "free health care, much like they do free retirement. Thanks goodness that there a few of the "evil rich" still around to try to prop it up for a bit with their sweat and tears.

And while the Speaker gushes over those who will now be helped, no one is discussing the union workers and members of Congress who will be exempt.

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