A new study from Jeffery Anderson at the Pacific Research Institute shows that government-run programs already in place, such as Medicare and Medicaid, spend more per patient than private health insurance:
Since 1970, Medicare and Medicaid’s combined per-patient costs have risen from $344 to $8,955, while the combined per-patient costs of all other US health care have risen from $364 to $7,119.
Medicare and Medicaid used to cost $20 less per patient than other care. Now they cost $1,836 more. (And that’s even without the Medicare prescription-drug benefit.)
Given the exotic nature of Barack Obama, an Obama victory was logically in question during the 2008 election cycle. In retrospect, however, with the economy then cratering under a Republican administration and a Republican opponent appearing too old and incoherent to be able to confront America’s problems, Barack Obama’s electoral victory makes sense.
“Who could have even imagined new government commitments of $24 trillion in mere months? These promises could make the implosion of Fannie Mae and Freddie Mac look like a lemonade stand closing.” - David Boaz
We’re not only facing $49 trillion in unfunded liabilities (p. 28) due to entitlements such as Medicare and Social Security, Americans could be on the hook for another $23.7 trillion due to government-funded bailouts:
The total price tag for federal support stemming from the financial crisis could reach $23.7 trillion in the long run, the government’s top bailout watchdog says in a new report to Congress.
In what can only be taken to be a reflection of his declining approval numbers, a new Rasmussen poll shows that President Obama would face quite a challenge in seeking re-election three years from now:
If the 2012 presidential election were held today, President Obama and possible Republican nominee Mitt Romney would be all tied up at 45% each, according to a new Rasmussen Reports national telephone survey.
The president, seeking a second four-year term, beats another potential GOP rival, Alaska Governor Sarah Palin, by six points – 48% to 42%.
While driving to Atlanta on Thursday evening, I caught part of an interview with Newt Gingrich on The Sean Hannity Show. Gingrich was speaking against ObamaCare, and rightfully so (to get an idea of what he said, you can read a transcript from Hannity’s television show later that night). The president’s so-called health care “reform” proposal will crowd out private health insurance and eventually lead to a takeover of the insurance industry. As Brett Bittner wrote yesterday, we need to work together to “flatline ObamaCare.” There is no disagreement there.
I was twenty-eight years old before I had even heard of Goldman Sachs. In retrospect, I suppose that’s a bit of surprise considering they are one of the largest and most influential companies in the world. On the other hand, I never had much interest in the financial markets when I was younger nor any sort of fascination with Wall Street.
Since the beginning of the height of the financial crisis last September, I have become much more aware of both the markets and Goldman Sachs. I’ve noted before on this site that Goldman Sachs has not only been the recipient of taxpayer largess via AIG but also has a network of former employees in influential government positions. The so-called mainstream media has been relatively quiet on these facts, but the chatter is beginning to pick up.
The folks are Recovery.Gov are doing their job informing us of the many vital projects that President Obama’s stimulus package is helping to fund.
Projects such as:
I wondered over to QandO this morning and saw a post by my friend, Bruce McQuain (“McQ”). He was responding to a rather angry rant by Melissa Clouthier, who was admonishing those of us that voted for Bob Barr in the 2008 presidential election, essentially lumping us in as Obama supporters.
“Don’t blame me!” Bellowed one of my redneck relatives,”I voted for Ross Perot!” Did ya now? And that vote wasn’t a “screw you” vote, that felt inwardly satisfying while it also served Bill Clinton the presidency on a nice, silver platter (the one taking a prominent position on a shelf in his sprawling residence out on Long Island)? Oh no! It was a vote of conscience. It was a morally superior vote. Sniff.
Washington Watch has has cataloged the earmarks for the appropriations bills working through Congress. You can click on the name of the member of the House or Senate to see requests (some haven’t been added yet, but will be as information becomes available).
Remember Speaker Nancy Pelosi’s suggestion that surtax revenue leftover from health care “reform” could be used for deficit? By using the arduous process known as simple mathematics, FactCheck.org calls her statement “nonsensical” because the surtax proposal will not bring any anywhere near the $1.5 trillion needed to fund ObamaCare.
FactCheck also notes the CBO report showing an additional $1 trillion impact on the deficit over ten years because of the program.