March 17, 2010
MA Treasurer: Obamacare Could "Wipe Out" The National Economy In Four Years
He should know. As he notes in Businessweek, he's living it:
The Massachusetts treasurer said Tuesday that Congress will "threaten to wipe out the American economy within four years" if it adopts a health care overhaul modeled after the Bay State's.Treasurer Timothy Cahill -- a former Democrat running as an independent for governor -- said the 2006 law has succeeded only because of huge subsidies and favorable regulatory changes from the federal government.
"Who, exactly, is going to bail out the federal government if this plan goes national?" He asked.
In a nation of more than 300 million only half of us pay taxes, and Democrats would force upon us to pay for the health insurance of all. A child can see that simply isn't a sustainable model, especially with the debt load of existing entitlement programs weighing down on us.
Simply put, a vote (or a shifty and probably un-Constitutional "deeming") in favor of Obamacare is irresponsible and unsustainable. We can only hope that Democrats in Congress are more loyal to their nation than Nancy Pelosi and Barack Obama.
""Who, exactly, is going to bail out the federal government if this plan goes national?" He asked."
I thought this the moment I saw that Romneycare pushed many on to the Federal trough.
I cannot understand why this issue has not gained traction?
Posted by: davod at March 17, 2010 10:52 AMOn the investing channel today, one of our fine congresswomen came on and said we need the bill as medical care was so expensive that it takes up 17% of GDP. Now there are two problems. First, the bill will increase the cost of medicine as doctors are going to unionize as they have had it with our government and once in a union you can forget about what medical care will cost as it will go out the roof (doctors are actually underpaid and have been so for 20 years). The other thing is the reason medical services our out of proportion is that we do not make anything. That is due to our government running off any business that would actually do something.
Posted by: David at March 17, 2010 10:55 AMIsn't that the purpose of all of this? America's hate for it self played out on the world stage with no shots fired.
Posted by: hiscross at March 17, 2010 09:21 PM
