Obama's trillions keep adding up
By Jim Backlin
As if Barack Obama's trillion stimulus legislation (which includes interest on the $787 billion final bill) was not enough, Americans found out today that the Democrats' health care legislation -- which greatly increases government intrusion into Americans' health care -- will cost American taxpayers another trillion dollars during the next 10 years if it is passed by the Democrat-controlled Congress this year. This is what the Congressional Budget Office has estimated the Kennedy/Obama health reform bill will cost in a letter to Senator Ted Kennedy today.
These two one-trillion dollar Obama programs are on top of the nearly 1/2 trillion onnibus bill passed to fund Obama's government until the end of this fiscal year. Obama's first deficit is estimated by his administration to be $1.8 trillion, but many economists believe it will actually be a gigantic $2 trillion by the end of this fiscal year. Obama has quadrupled the deficit and quadrupled the debt according to Sean Hannity on his show tonight on the Fox News channel.
The Associated Press reported today that "The CBO released its preliminary estimate as several congressional committees looked ahead to votes on legislation that President Barack Obama has placed atop his list of domestic priorities, and the chief executive appealed to the nation's doctors for support. Appearing in Chicago, Obama drew boos when he told the American Medical Association he opposes caps on damages that juries or judges may award in medical malpractice cases."
According to the CBO estimates, 22 million Americans will lose their current health care coverage and some 34 million will still have no medical coverage in America if the Kennedy/Obama legislation becomes law. The federal government will be setting the rules and the private insurance companies will have to capitulate because of the 800 pound gorilla, the government-run health care bureaucracy. America's outstanding health care system will soon deteriorate to emulate the abominable socialist health care systems of Great Britain and Canada.
Bloomburg News reported that Obama's plan to pay for the new Democrat health care program is to increase taxes by a whopping $600 billion and making $400 billion cuts in Medicare/Medicaid, which of course will result in destroying the world's best health care system and lead to drastic rationing of health care. The Associated Press reported tonight that "many of the cuts would fall on major healthcare providers." And as was reported on Sean Hannity's show, Obama undoubtedly will have to raise taxes on the middle class.
And speaking of trillions, the total debt which Obama's gigantic spending programs will accumulate -- some $10 trillion -- is estimated to be equal to the debt of all 43 presidents before Obama combined. It is time for the American people to tell the president and his Democrat-controlled Congress to get off of this fast track to socialism.
http://www.cc.org/print/1914
Topic: Obama's trillions keep adding up (Read 602 times)