Barack Obama has made a guarantee. During an interview with ABC’s Charles Gibson, Obama guaranteed that the U.S. federal government will go bankrupt if the health care reform bill he is pushing does not get passed. Of course he failed to mention that the health care reform bill will actually cost U.S. taxpayers hundreds of millions of dollars in the coming years. Where in the world is all of that money going to come from?
The health care bill Barack Obama is trying to ram through Congress does virtually nothing to reduce the countless millions that doctors, lawyers, pharmaceutical companies and health insurance companies are greedily raking in. Instead, it seeks to find savings by pushing “efficiency” and by cutting out “unnecessary procedures”. In other words, federal officials will decide what medical procedures are “cost effective” and which ones are not.
Meanwhile, Representative Michele Bachmann is warning that this health care reform bill will be “the largest middle-class tax increase in American history” and will represent a huge step towards socialized medicine.
And she is right.
But that is not stopping Barack Obama from using whatever scare tactics he can to get this bill rammed through….
But Barack Obama was actually partly right about something.
The truth is that the U.S. government is already basically bankrupt. It has been caught in an accelerating debt spiral for decades and now things have totally gotten out of control. Just consider the chart below….
And the reality is that the chart above does not really reflect a lot of the money that went to bail out the financial industry. The truth is that things are even worse than the chart indicates.
The U.S. government is drowning in red ink, and now we are about to have the Democrats ruthlessly ramrod a health care bill that will cost hundreds of millions of dollars down the throats of the American taxpayers.
What a mess we have on our hands.
