China Warns Obama About Healthcare Deficit

Meister

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Jan 15, 2009
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Conservative part of the Northwest
Sounds like the United States biggest lender is starting to feel uneasy about it's investment.
If a communist country can see the problem, why can't we?



Beijing Questions Obama's Healthcare Plan and it's Impact on U.S. Deficit

From Reuters:


Guess what? It turns out the Chinese are kind of curious about how President Barack Obama’s healthcare reform plans would impact America’s huge fiscal deficit. Government officials are using his Asian trip as an opportunity to ask the White House questions. Detailed questions....Boilerplate assurances that America won’t default on its debt or inflate the shortfall away are apparently not cutting it. Nor should they, when one owns nearly $2 trillion in assets denominated in the currency of a country about to double its national debt over the next decade....Nothing happening in Washington today should give Beijing any comfort or confidence about what may happen tomorrow. Healthcare reform was originally promoted as a way to “bend the curve” on escalating entitlement costs, the major part of which is financing Medicare and Medicaid. That is looking more and more like an overpromised deliverable....
For instance, a new study from the U.S. government’s Centers for Medicare and Medicaid Services finds that the healthcare reform bill recently passed in the House of Representatives would increase healthcare spending to 21.3 percent of GDP by 2019 compared with 20.8 percent under current law. That’s bending the curve the wrong way. The study also questions the “long-term viability” of the $500 billion in Medicare cuts meant to help pay for expanded insurance coverage.....In addition, the CMS study gives a clearer cost estimate than the one provided by the Congressional Budget Office. According to the CBO, the 10-year cost of PelosiCare is $894 billion. But that analysis includes early years with little government spending, According to the CMS, the House approach would cost $1 trillion from 2013-2019, or some $140 billion a year when fully put into effect.

The Contemporary Conservative: Beijing Questions Obama's Healthcare Plan and it's Impact on U.S. Deficit
 
It's no secret... America is on the path to a financial melt down, and it's coming, soon, and it's inevitable, unless DRACONIAN measures are taken. Looks like the Chinese know this better than our own government...

CBO to Congress: Spending & Debt “Unsustainable”

Written by Thomas R. Eddlem
Friday, 17 July 2009 14:00

Congressional Budget Office Director Douglas W. Elmendorf
gave a fiscal wake-up call to Senate Budget Committee members in testimony on July 16, noting that “the federal budget is on an unsustainable path — meaning that federal debt will continue to grow much faster than the economy over the long run.”

CBO to Congress: Spending & Debt “Unsustainable”
 
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It's no secret... America is on the path to a financial melt down, and it's coming, soon, and it's inevitable, unless DRACONIAN measures are taken. Looks like the Chinese know this better than our own government...

You can bet that those DRACONIAN measures won't include cutting government spending.
 
It's no secret... America is on the path to a financial melt down, and it's coming, soon, and it's inevitable, unless DRACONIAN measures are taken. Looks like the Chinese know this better than our own government...

You can bet that those DRACONIAN measures won't include cutting government spending.

What... the government STOP SPENDING, even though they know that's the ONLY thing that can help us? .... PFFFT... C'MON MM.... ya crack me up pard...
lol-045.gif
 

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