Finally, somebody is saying what realists have been thinking. Barack Obama is so consumed with his agenda that he is spending us into oblivion. Kevin Hassett at Bloomberg.com makes comparisons between California and the federal budget that makes things perfectly clear.
The California morass has Democrats in Washington trembling. The reason is simple. If Obama’s health-care plan passes, then we may well end up paying for it with federal slips of paper worth less than California’s. Obama has bet everything on passing health care this year. The publicity surrounding the California debt fiasco almost assures his resounding defeat.
I know that people keep saying that Democrats will be running for the hills when it comes to this health care initiative of Obama’s but I would still like for those concerned to get more vocal about it. I am not convinced yet that this is DOA.
California has engaged in an orgy of spending, but, compared with our federal government, its legislators should feel chaste. The California deficit this year is now north of $26 billion. The U.S. federal defecit will be, according to the latest numbers, almost 70 times larger.
Bleak Picture
The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to defecits and elevated it to an art form.
HALLELUJAH! PREACH IT BROTHER!
With the price tag of Obama-care likely to exceed $1 trillion, moderate Democrats face a simple choice. They can jump off the cliff with the president, or they can stay true to the principles that they have espoused throughout their careers.
There are reassuring signs that principle is winning. One of the most expensive components of the Obama plan is the so- called public-insurance option, which opponents fear would result in massive government subsidies. Senator Mary Landrieu said that she is “not open” to a public option that will compete with private insurance.
One trillion? If that’s the Democrats’ estimate, I would venture that the real cost will be more than twice that. Nobody with any grasp on the situation that this country is staring down could support this health care initiative. Health care needs to be regulated. Insurance companies need to deliver what they promise and they need to do it in concert with a medical community that is accountable for corruption… just as insurers need to be held accountable for theirs. Hassett is optimistic that the stupidity that is Obama’s health care folly will be struck down. I am hopeful, but it seems to me that Hassett puts a lot of faith in the American people having a clue. I don’t know that people hear anything beyond FREE and Obama and the rest of the Democrats have made a good run at getting people to believe that they’re offering them something for nothing.
