Filed under: Barack Obama, big pharma, CBO, Communism, Dictatorship, Dissent, Empire, Fascism, government control, government regulation, H.R. 3962, health care, health care reform, health insurance mandate, Healthcare, healthcare rationing, JCT, mandatory health care, mandatory health insurance, medicaid, medical care, medical industrial complex, medicare, Nancy Pelosi, nanny state, Neolibs, obama, obama care, obama deception, obama fines, obama tax, obamacare, Oppression, ration, Senate, socialism, universal health care
Obama care’s final cloture vote passes Senate
The Heritage Foundation
November 21, 2009
 What Reid thinks about Americans. . . |
The Senate voted this evening by a 60-39 majority to commence debate on Senate Majority Leader Harry Reid’s bill that would radically expand government control over private health care decisions. The bill is over 2000 pages long, costs an estimated $2.5 trillion over the first ten years of implementation and carries a half trillion dollars in new taxes. Many Americans have to be thinking right now — they have heard from their dissenting constituents at Town Hall meetings and have seen the poll numbers for Obama’s health care bill dropping like a rock so why would they keep moving this bill forward?
This debate will center around many issues including huge taxes increases, economy-killing employer mandates and:
1. Abortion: Congressman Bart Stupak (D-MI) offered an amendment to the House bill to ban all federal funds flowing into the health care system from funding abortion. Senator Reid put language in the bill that allows some funds to go to abortion services by using an accounting gimmick. This issue could take the bill down, because the House approach is far different from the Senate approach. If this bill becomes a referendum on abortion policy, it may fail.
2. Cost: Senator Reid has promoted his bill as costing the federal government $849 billion and as a budget cutting bill. Conservatives in the Senate have pointed out that the costs are more accurately $2.5 trillion over the first 10 years of implementation because the benefits are not even scheduled to be paid out until 2014. There is a huge disparity between the two sides as to the cost of the bill and if it gets bigger and bigger on the Senate floor, then it may suffer a legislative implosion.
3. The Public Plan: Senator Joe Lieberman (D-CT) has pledged to support a filibuster of any bill containing the public option. Senator Olympia Snowe (R-ME) will only accept a public option with a trigger. Other Senators have expressed reservations about different permutations of the public option. A bill with a too strong public option may not have the support to pass the Senate.
4. Wild Card: As with all these debates, there may be an issue that comes out of the blue and becomes central to the bill. There were debates over “death panels” during initial stages of the debates and controversies over coverage for illegal immigrants. Some other issue may be offered as an amendment or may be buried in the 2000 pages of the bill that may become the next controversy to prevent passage.
The week after Thanksgiving, the Senate will start the process of considering and voting on amendments to the bill. This process may go in one of two directions. It is possible that Reid uses the amendment process to buy just enough votes to pass the bill through targeted special interest amendments. Expect Connecticut, Nebraska, Arkansas, and, yet again, Louisiana to receive special treatment in the amendment process. If Senator Reid is able to buy support during this process, the bill will pass and the President will sign Obamacare before his State of the Union.
Scenario two kicks in if opponents of the bill play hardball. If opposing Senators offer non-germane amendments, like the legislation to restore the 2nd Amendment in the District of Columbia or a resolution of disapproval for Attorney General Eric Holder’s decision to try Kahlid Sheik Mohammed in federal courts, then the Senate would be mixing some volatile issues into the health care mix. Regardless the course of action, this bill will either pass or fail as a direct result of the actions of a handful of Senators.
CBO: By 2019, Taxpayers Will Pay $196 Billion A Year for Obamacare, But 24 Million People Will Remain Uninsured
CNS News
November 19, 2009
Under the health care bill introduced by Senate Majority Leader Harry Reid (D-Nev.) on Wednesday, by 2019 taxpayers will be paying $196 billion per year to subsidize other people’s health insurance coverage, but there still will be 24 million uninsured people in America, according to the Congressional Budget Office and the Joint Committee on Taxation.
Reid’s proposal mandates that all individuals legally resident in the United States purchase health insurance and offers subsidies to people making up to 400 percent of the poverty level ($88,200 for a family of four) to purchase insurance as long as they buy a federally regulated and approved plan sold in a federally regulated insurance exchange.
According to an analysis published Wednesday by the CBO and JCT, this subsidy will cost taxpayers $196 billion per year by 2019 but will still leave 24 million people uninsured in America, about 8 million of whom will be illegal aliens. The estimate assumes that there would otherwise be about 55 million uninsured people in the United States.
“The gross cost of the coverage expansions, consisting of exchange subsidies, the net costs of expanded eligibility for Medicaid, and tax credits for employers: Those provisions have an estimated cost of $196 billion in 2019, and that cost is growing at about 8 percent per year toward the end of the 10-year budget window. As a rough approximation, CBO assumes continued growth at about that rate during the following decade,” says the joint CBO and JCT analysis.
“By 2019, CBO and JCT estimate, the number of nonelderly people who are uninsured would be reduced by about 31 million, leaving about 24 million nonelderly residents uninsured (about one-third of whom would be unauthorized immigrants),” says the CBO and JCT analysis.
Table 3 in the report indicates that when the health-insurance mandate and subsidy program becomes fully operational in 2014 there will be 35 million uninsured in the United States and this number will drop to 23 million by 2018 before rising back to 24 million in 2019. The report does not indicate how many uninsured people will remain after 2019, or whether the upward trend between 2018 and 2019 will continue.
Table 3 also shows that the cost to taxpayers of paying the insurance subsidies in the bill as well as the cost for increased eligibility for Medicaid and the Children’s Health Insurance Program (CHIP) instituted under the bill will dramatically escalate over the next decade.
In 2010, the year of the next congressional election, the gross cost of the subsidies is expected to be $0. In 2012, the year of the next presidential election, the gross cost of the subsidies in the bill is expected to be only $4 billion. But in 2014, the costs are expected to dramatically escalate to $48 billion for the year. From that point on, the costs increase every year, jumping to $147 billion by 2016 and then to $196 billion by 2019.
Filed under: CBO, Congress, Credit Crisis, DEBT, debt clock, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Federal Reserve, George LeMieux, government control, government regulations, Great Depression, Greenback, health care, health care reform, Healthcare, House, hyperinflation, Income Tax, Inflation, medicare, national debt, Neolibs, obama care, obama deception, obama tax, obamacare, Senate, Stock Market, tax, Taxpayers, universal health care, US Economy, US Treasury, Wall Street
US public debt tops $12 trillion for first time ever
AFP
November 18, 2009
The US public debt topped 12 trillion dollars for the first time in history, Treasury officials disclosed Tuesday, moving past a key barrier that raised hackles in Congress.
Treasury data showed Monday’s outstanding debt at 12.031 trillion dollars, up from 11.999 trillion on Friday.
The ballooning debt reflects the massive deficit spending by the government in an effort to revive an ailing economy over more than one year.
The public debt topped 10 trillion dollars in September 2008.
The debt is quickly approaching the statutory limit of 12.104 trillion dollars, meaning Congress would have to raise the ceiling to prevent a shutdown of government operations.
noworldsystem.com 