Reno Hayek Symposium

Stephen Spruiell’s succinct report today in NRO, Ducking and Dodging, clearly sets out the Obamacare fiscal deficiencies highlighted today by Paul Ryan. Representative Ryan blasted Obama’s “insurance care” today and none of the Democrats could counter his arguments. Basically he pointed out that Obamacare front-loads tax hikes and Medicare cuts and defers costs, forcing the CBO to score ten years of offsets with only six years of spending! The true cost of the bill is $2.3 Trillion not the $950 Billion advertised by Obama.

Ryan focused further on other Democratic gimmicks:

• Double Counting: “savings” are counted as offsets for spending and at the same time reserved to pay for future entitlements. Example, $52 Billion in Social Security tax increases.
• “Doc Fix”: The bill’s 21% cut in Medicare reimbursements is put back in via separate legislation not subjected to combined CBO scoring.

And what does the wimpy Obama say in response? “We have some strong disagreements on the numbers, but I don’t want to get too bogged down!” If there were disagreement you would think he would have answered the criticisms.

As for getting bogged down, Obama should start getting real bogged down in his record breaking deficits, unsustainable national debt and bankrupting unfunded liabilities. Instead he is hell-bent-for-leather to add to that trio of financial irresponsibility. And this at a time of high unemployment when small businesses won’t hire because of the uncertainty, regulation and taxes proposed with Obamacare!

I guess destruction of our economy is a small price to pay for these socialists to gain total control of that economy. You’d think they would see it as a bad bargain.

I pity our future generations.

Tom Motherway