Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (81990)	4/2/2010 9:39:11 AM
From: jlallen	4 Recommendations Read Replies (1) \| Respond to of 224729

lol Like the "non-partisan" CBO? Former CBO Director: ObamaCare Would Add $562 Billion to Federal Deficits Posted by Michael F. Cannon In The New York Times, former Congressional Budget Office director Douglas Holtz-Eakin strips away the budget gimmicks that Democrats use to hide the cost of the Obama health plan: Removing the unrealistic annual Medicare savings ($463 billion) and the stolen annual revenues from Social Security and long-term care insurance ($123 billion), and adding in the annual spending that so far is not accounted for ($114 billion) quickly generates additional deficits of $562 billion in the first 10 years. And the nation would be on the hook for two more entitlement programs rapidly expanding as far as the eye can see. The bottom line is that Congress would spend a lot more; steal funds from education, Social Security and long-term care to cover the gap; and promise that future Congresses will make up for it by taxing more and spending less. What could possibly go wrong? Best line: the CBO “is required to take written legislation at face value and not second-guess the plausibility of what it is handed. So fantasy in, fantasy out.” (The Congressional Budget Fantasy Office has a nice ring to it.) Holtz-Eakin is currently president of the American Action Forum. cato-at-liberty.org