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 Obamas healthcare reform plans would impact Americas 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 wont 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. governments 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. Thats 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
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 Obamas healthcare reform plans would impact Americas 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 wont 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. governments 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. Thats 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
