Obamacare will reduce the U.S deficit by 1.2 Trillion.....(right)

Discussion in 'Economics' started by Bauclair, Mar 30, 2010.

Do you economically support obamacare?

  1. Yes

    3 vote(s)
    12.5%
  2. No!

    21 vote(s)
    87.5%
  1. Bauclair

    Bauclair

    I get this magazine in the mail every week called "The Week" I enjoy reading it I believe this magazine is fairly natural for political views.

    Their main story was the called “A giant step toward universal health care" (surprise surprise). In this article they talk about some of the new rules that will be implemented in 2018 law as well as the coast that in my opinion will destroy future generations (like myself).

    This article reports getting its information from The congressional Budget office, "The legislation will cost $940 billion over 10 years". Well for starters ..HOLLY SHIT :eek: that is an astronomical number, as I continued reading it talked about how the government is planning on paying for this... This is where the article begins to get interesting.

    "Through a combination of higher taxes on the wealthy, industry fees, and reduced spending on Medicare, the bill will actually reduce the deficit by $130 Billion in the first decade and another $1.2 Trillion in the following decade”

    All right now I’m not an expert when it comes to economics but what I have learned the best way to generate additional revenue for the government is not by taxing the industry’s that employ many of Americans. I believe this is going to lead to more lay off’s in companies to accommodate for the mounting tax bill. I believe this will discourage economic growth and create an even stronger wedge in our total economic well-being. Douglas HoltzEakin states “If you strip out all the gimmicks and Budgetary games in this bill, you’re left with a law that will raise, not lower, federal deficits by $562 Billion”

    My question to all of you is how do you feel this will affect our country economically? Do you feel this bill will reduce our deficit or increase it? Do you agree with my theory about this bill deminiting economic growth in the U.S like Income taxes discourages people’s incentive to work as the Laffer curve teaches us?
     
  2. All Correctamundo. Some have estimated the Obamacare to have a price tag of $6Trillion... how much of that being deficit, I don't know.

    One thing for sure.. all government cost estimates are are always UNDERESTIMATED... usually by a factor of at least 5X.
     
  3. 130 billion over 10 years is insignificant. A drop in the bucket.

    And that's *IF* healthcare cuts the deficit. No US Government program has ever run under budget, to my knowledge.

    It's rumored healthcare is supposed to cut the deficit by paring down quality and channeling premiums to pay off the debt. If that were true, and the deficit were reduced by XXX billion, per year, the market and economy would crash.

    This is more Washington Bullshit. Healthcare will run over budget. Not under.
     
  4. That's the bottom line. And this has the potential to be even more over-budget than SS or Medicare...
     
  5. amtrak

    amtrak

    Don't you guys get it -- the status quo, which is what the Republicans want, is so bad that people are dying because of it. With no health insurance, the miserable healthcare bastards charge you more, so paying cash for health care is not an option.

    And before someone starts flaming me back here, stop and think about this -- every other advanced country (like the G8 or G20) does this better than we do. EVEN THE FRENCH HAVE BETTER HEALTH CARE THAN WE DO.

    I have never seen another issue where America is so backward compared to the rest of the world, and the most amazing thing is that Joe Sixpack wants to continue this backward mess of a system we have. It just amazes me.

    You see, healthcare is what is needed, but delivered through a system of privatized health INSURANCE companies, the INSURANCE companies refuse to cover anyone WHO NEEDS IT.

    Every other country has dealt with this dilemma, but not us. Oh no, not the US. I can't stand that the FRENCH even do it better.
     
  6. Bob111

    Bob111

    same way Bill Clinton "surplus" did affect US..every business, who can-did leave the country..most of good jobs been outsourced..with it..from now on whatever left will be destroyed too.
     
  7. Mr Pain

    Mr Pain

    The Bush gift cost Trillions

    http://www.washingtonpost.com/wp-dyn/articles/A9328-2005Feb8.html

    The remarkable thing is Bush cost us all far more money but the Obama plan has the republicans mobilizing a new SA and planning terrorist attacks against the government. What ever happened to the republican party of Eisenhower? How did it turn into the party of Goebbels and Himmler. Anyone who doesn’t expect domestic terrorism is a fool. Fox news is foreign controlled entity and the jokers on there are modern day equivalent of Lord Ha Ha and Tokyo Rose.
     

  8. DUMBASS.... ON IGNORE!
     
  9. ammo

    ammo

    i see clinton bashers and bush bashers, u guys need to wake up, there is only 1 party,dc is owned, u guys arguing parties means u were suckered in, the health care bill was just a ruse to fool u, whatever was passed or will be passed has so many more add ons or different ways for us to get f'd that only your elected officials on both sides know about, your clueless if you think being loyal to either party has any merit ,or if you think when the choice comes down to joe sixpack or the lobbyists ,that anyone on the hill on either side will choose joe sixpack
     
  10. One thing that the Congressional Budget Office (or anyone else for that matter) can factor in the future cost of U.S. health care is what goes on in the FDA. As traders, many of you should be familiar with the gyrations of biotech medical stocks lined up for their Phase III approvals. Then they skyrocket overnight as "creators of the next BLOCKBUSTER" drug or appliance or whatever. And who is going the pay the billions these companies are in line to earn? We are. The thing that amazes me is that there is no cost/benefit requirement (that I know of) for judging whether these new drugs/gadgets/etc really are cost effective. After all, how can we dare put a value on a human life?
    The way I see it, all that the modern U.S. Medical/Industrial complex is doing under the guise of "saving lives" is transferring life from future generations (our children's and grandchildren's) to ours. We are/were lucky enough to be in the "sweet spot" of history where we got all the benefits - and left all the bills/debt to be paid later. I see what a terrible time my own children are having compared to the opportunities I enjoyed at their time in life. I really fear for what my grandchildren will have to face.
     
    #10     Mar 31, 2010