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Escalating costs Date published: 11/23/2009
SUBSIDIES in the Senate health- The bill requires that all residents of the United State buy health insurance and offers subsidies for families earning up to 400 percent of the poverty level--that's $88,200 for a family of four. In fact, Congress may be vying with convicted financier Bernie Madoff for the title of Ponzi Schemer of the Year: The cost of the subsidies will be $0 in the next congressional election year (2010), and just $4 billion in the next presidential election year (2012), but will jump to $147 billion by 2016 and then $196 billion in 2019. By then, most of the present-day members of Congress will be relaxing in retirement. Presumably, their successors will figure out how to pay for it all. Not to worry. We see how well that's worked with Social Security, Medicare, and Medicaid.
“They (Social Security, Medicare, Medicaid) are not ‘Ponzi schemes.’” You are wrong. They are classic, quintessential Ponzi schemes in that the wealth produced by a younger generation is used to reimburse the wealth produced by an older generation. That wealth should have been “invested by Mr. Ponzi for their future benefit” (translation for liberals: it was squandered by the Federal Gov. See my below post). Whether they address critical needs or not is irrelevant to the definition of Ponzi scheme.
This editorial has echoed the Right's recent attacks on such programs as Social Security, Medicare, Medicaid as "Ponzi Schemes." These vital programs were designed to address critical needs that were not being addressed by the private sector. They are not "Ponzi schemes."
In 1803, President Thomas Jefferson purchased 828,000 square miles from the French for $11,250,000. In 2009, Sen. Harry Reid purchased Sen. "Louisiana Landrieu's" singular vote regarding national health care for $300,000,000. Sen. Reid and Sen. Landrieu, SCREW YOU! (A great example of Obama’s hope and change).
sentence. Unfunded obligations as of Nov. 23rd, 0605. (Source: National Debt Clock Real Time). Social Security: $14.00T. ... Medicare/Medicaid: $73.69T. ... Prescription Drugs: $18.53T. ... Total: $106.23T. ... The above does not include the national debt of $12.02T. ... The Democrats now want to give us the fifth crazy aunt (Health care) to join the other four crazy aunts in the fiscal basement. You own it Dems.
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