Sen. Sessions – ObamaCare adds $17 trillion, or 1.9% of GDP, to nation’s unfunded lia

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by Stephanie, Apr 2, 2012.

  1. Stephanie
    Offline

    Stephanie Diamond Member Supporting Member

    Joined:
    Jul 11, 2004
    Messages:
    70,236
    Thanks Received:
    10,817
    Trophy Points:
    2,040
    Ratings:
    +27,359
    links in article at site

    SNIP:

    posted at 4:45 pm on April 1, 2012 by Steve Eggleston






    On Thursday, Sen. Jeff Sessions (R-AL), the ranking member of the Senate Budget Committee, stated on the Senate floor that not only will ObamaCare cost $2.6 trillion in its first 10 years of full implementation, but that it will add $17 trillion to the nation’s long-term unfunded liabilities.



    Before I continue, I do have to explain the concept of “present value”. Except for the $2.6 trillion 10-year value, the list of figures Sen. Sessions gives are in that concept. It is one of a few common measures of long-term finances, specifically one designed to measure what is required today to avoid (excepting earned interest, which in this case appears to be assumed to be roughly 3.25%) any future draw on financing over, in the case of the federal government’s usage of the term, the next 75 years. Usually when it is invoked by the federal government, the value of legislated, but unfunded, claims on general-fund revenue, such as those contained in the Hospital Insurance “Trust Fund” and legislated mandates to fully-fund Medicare Parts B and D regardless of whether their dedicated funding sources are sufficient, are not included in that calculation. However, the Medicare Trustees include that, as well as the $2.5 trillion in Social Security “Trust Funds”, in their unfunded liability calculations from the “budget perspective”, and on the health-care side, so did Sen. Sessions.

    Quoting from the video above:


    all of it here with comments
    Sen. Sessions – ObamaCare adds $17 trillion, or 1.9% of GDP, to nation’s unfunded liabilities « Hot Air
     
  2. starcraftzzz
    Offline

    starcraftzzz Senior Member

    Joined:
    Feb 14, 2012
    Messages:
    2,263
    Thanks Received:
    120
    Trophy Points:
    48
    Ratings:
    +120
    Typical of republicans to only report half the data. Obamacare reduces the deficit by trillions of dollars over the long term and lowers total health costs, but dont let relatiy get int he way of republcian ignroance
     
  3. Luddly Neddite
    Offline

    Luddly Neddite Diamond Member

    Joined:
    Sep 14, 2011
    Messages:
    53,216
    Thanks Received:
    8,455
    Trophy Points:
    2,040
    Ratings:
    +20,829
    This has been covered so many times. Why do the pubs keep repeating stuff they KNOW is not true? Oh yeah, because rw's are so damned gullible.
     
  4. Jackson
    Offline

    Jackson Gold Member Supporting Member

    Joined:
    Dec 31, 2010
    Messages:
    19,636
    Thanks Received:
    4,872
    Trophy Points:
    290
    Location:
    Nashville
    Ratings:
    +12,677
    And you are so credible. Sorry. My bad.
     
  5. Katzndogz
    Offline

    Katzndogz Diamond Member

    Joined:
    Sep 27, 2011
    Messages:
    65,659
    Thanks Received:
    7,418
    Trophy Points:
    1,830
    Ratings:
    +8,337
  6. Staidhup
    Offline

    Staidhup Gold Member Supporting Member

    Joined:
    Jan 5, 2012
    Messages:
    2,847
    Thanks Received:
    492
    Trophy Points:
    130
    Location:
    PNW
    Ratings:
    +1,175
    So what else is new.Think of it this way "it's only money and we can tax everyone that works to pay for it" simple core liberal belief until there isn't anyone left to tax! Interesting how those liberal fucks still can't believe free costs someone money, however, they do know it won't come off the sweat that runs down their backs!
     
  7. Katzndogz
    Offline

    Katzndogz Diamond Member

    Joined:
    Sep 27, 2011
    Messages:
    65,659
    Thanks Received:
    7,418
    Trophy Points:
    1,830
    Ratings:
    +8,337
    Socialism works until you run out of other people's money.
     
  8. starcraftzzz
    Offline

    starcraftzzz Senior Member

    Joined:
    Feb 14, 2012
    Messages:
    2,263
    Thanks Received:
    120
    Trophy Points:
    48
    Ratings:
    +120
    Only people who know nothing about health care think the only way yo cut costs is to reduce health care.
    Expanding Medicare or the VA to the whole population would cut spending by near 700billion a year just because govnermtn run health care is that much more efficient.
    Not to mention billions will be saved due to Obama proving funding for computerized records, the list goes on for a long time
     
  9. starcraftzzz
    Offline

    starcraftzzz Senior Member

    Joined:
    Feb 14, 2012
    Messages:
    2,263
    Thanks Received:
    120
    Trophy Points:
    48
    Ratings:
    +120
    Thanks for proving that you are a dumbass
     

Share This Page