Tag Archives: Healthcare

IMF bombshell: Age of America nears end – MarketWatch


April 25, 2011, 12:01 a.m. EDT

IMF bombshell: Age of America nears end

Commentary: China’s economy will surpass the U.S. in 2016

By Brett Arends, MarketWatch

BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

The Obama deficit tour

The Wall Street Journal’s Steve Moore critiques the president’s speeches attacking Republican budget plans.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

But they’re miscounting. They’re only comparing the gross domestic products of the two countries using current exchange rates.

That’s a largely meaningless comparison in real terms. Exchange rates change quickly. And China’s exchange rates are phony. China artificially undervalues its currency, the renminbi, through massive intervention in the markets.

via IMF bombshell: Age of America nears end – MarketWatch.


My Way News – FACT CHECK: Obama’s tone shifts on health care

WASHINGTON (AP) – President Barack Obama told voters repeatedly during the health care debate that the overhaul legislation would bring down fast-rising health care costs and save them money. Now, he’s hemming and hawing on that.

So far, the law he signed earlier this year hasn’t had the desired effect. An analysis from Medicare’s Office of the Actuary this week said that the nation’s health care tab will go up – not down – through 2019 as a result of Obama’s sweeping law, though the increase is modest.

Obama offered some caveats when asked in his news conference Friday about the apparent discrepancy between what he promised and what’s actually happening so far. On several other topics, too, his rhetoric fell short of a full accounting.

via My Way News – FACT CHECK: Obama’s tone shifts on health care.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people – Telegraph Blogs

The First Lady’s ill-conceived trip to Marbella and the complete disregard for public opinion and concerns over excessive government spending is symbolic of a far wider problem with the Obama presidency – the overarching disdain for the principles of limited government, individual liberty and free enterprise that have built the United States over the course of nearly two and a half centuries into the most powerful and free nation on earth.

It is epitomized above all by the President’s relentless drive towards big government against the will of the American people, and the dramatic increases in government spending and borrowing, which threaten to leave the US hugely in debt for generations. It is also showcased by Barack Obama’s drive towards a socialized health care system, which is “a thinly disguised vanity project for a president who is committed to transforming the United States from the world’s most successful large-scale free enterprise economy, to a highly interventionist society with a massive role for centralized government.”

More on this via The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people – Telegraph Blogs.

Juan Williams: Missouri’s Anti-ObamaCare Ballot Irrelevant – Only Old White People Voted For It | NewsBusters.org

Juan Williams on Sunday said the passage of Missouri’s anti-ObamaCare ballot initiative last week is irrelevant because only older white people voted for it.

Discussing the issue on “Fox News Sunday,” the liberal FNC contributor said, “As far as the Missouri vote, you get 70 percent inside an echo chamber of older white people, no not in St. Louis not in Kansas City, saying, ‘Oh yeah, we don’t like a requirement that everybody has to have healthcare even though the hospitals in Missouri say it’s gonna drive up our costs.'”

Host Chris Wallace seemed somewhat stunned by this and asked, “What happened to respect for democracy?”

More + video on this via Juan Williams: Missouri’s Anti-ObamaCare Ballot Irrelevant – Only Old White People Voted For It | NewsBusters.org.

Bad Omen for Obama and Democrats « Thomas Jefferson Club Blog

When a swing state votes overwhelmingly against a president’s biggest accomplishment, there is trouble on the horizon for that president and his political party. That is exactly what just happened in Missouri where the people voted, almost 3 to 1, to strike down the Obamacare mandate to purchase health care insurance. Missouri certainly came out swinging.

This is a loud and clear negation of Obama’s imagined mandate to “fundamentally” change America and a good indication of the direction independent voters are taking. Obama and Democrats were preparing to boast about administration accomplishments in upcoming campaigns for mid-term elections, stressing the passage of the stimulus and health care bills as reasons to keep the Democrat majority in Congress. Perhaps they will now re-think that strategy.

Read more via Bad Omen for Obama and Democrats « Thomas Jefferson Club Blog.

Expect a Lot of Obamacare Talk Between Now and November – The Campaign Spot – National Review Online

The National Republican Senatorial Committee assesses the results in Missouri:

Yesterday’s election results in the key swing state of Missouri — particularly the success of Proposition C — are more than just evidence of voters’ overwhelming opposition to President Obama’s costly and unpopular health care takeover. A closer look at the numbers reveals further evidence of the massive enthusiasm gap that fired-up Republicans and fiscally responsible Independents currently enjoy over Democrats with just 90 days until Election Day.

In their respective primaries, Republican nominee Roy Blunt received roughly 145,000 more votes statewide than his Democrat opponent Robin Carnahan, despite the fact that Blunt faced eight opponents while Carnahan faced only two. Blunt even won nearly 500 more votes than Carnahan in St. Louis County, the state’s most heavily Democrat region.

Show Me State voters also approved Proposition C — which attempts to shield Missourians from the Washington Democrats’ mandate to buy ObamaCare — by a massive 71-29 margin. Recent surveys show that 61 percent of Missourians oppose the Democrats’ recent health care law. Notably, Carnahan has fully and enthusiastically endorsed President Obama’s health care overhaul, and she voted against Proposition C.

As one of the President’s chief priorities, there’s no doubt that his health care bill will be among the key issues that voters weigh this November. With our national debt skyrocketing to a record $13 trillion and unemployment still burdening middle class families and small business owners, President Obama and the Washington Democrats’ decision to ram this massive health spending bill into law will certainly motivate Republicans, Republican-leaning, and Independent voters this November.

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via Expect a Lot of Obamacare Talk Between Now and November – The Campaign Spot – National Review Online.

Prop C passes overwhelmingly

Prop C passes overwhelmingly

Missouri voters on Tuesday overwhelmingly rejected a federal mandate to purchase health insurance, rebuking President Barack Obama’s administration and giving Republicans their first political victory in a national campaign to overturn the controversial health care law passed by Congress in March.

“The citizens of the Show-Me State don’t want Washington involved in their health care decisions,” said Sen. Jane Cunningham, R-Chesterfield, one of the sponsors of the legislation that put Proposition C on the August ballot. She credited a grass-roots campaign involving Tea Party and patriot groups with building support for the anti-Washington proposition.

Read more via Prop C passes overwhelmingly.

Republican Study Committee (RSC) – The Caucus of House Conservatives

Health Reform’s Bureaucratic Spawn

Don’t bother trying to count up the number of agencies, boards and commissions created under the new health care law. Estimating the number is “impossible,” a recent Congressional Research Service report says, and a true count “unknowable.”

The reasons for the uncertainty are many, according to CRS’s Curtis W. Copeland, the author of the report “New Entities Created Pursuant to the Patient Protection and Affordable Care Act.”

The provisions of the law that create the new entities vary dramatically in specificity.

The law says a lot about some of them and a little about many, and merely mentions a few. Some have been authorized without any instructions on who is to appoint whom, when that might happen and who will pay.

Those agencies created without specific appointment or appropriations procedures will have to wait indefinitely for staff and funding before they can function, according to Copeland’s report.

And others could be just the opposite: One entity might not be enough and could spawn others, resulting in an “indeterminate number of new organizations.”

Read more via Republican Study Committee (RSC) – The Caucus of House Conservatives.

Republican Study Committee (RSC) – The Caucus of House Conservatives

Yes, Virginia…ObamaCare is unconstitutional.

All the smart people in the political, media and legal classes know that ObamaCare is constitutional and anyone who says otherwise is frivolous. This faux consensus, however, does not include a U.S. district court judge in Virginia, who yesterday rejected the Administration’s argument that one of the key constitutional challenges should be dismissed outright. Now the case will proceed to arguments on the merits this fall.

The White House actually put out a statement on the decision analogizing opposition to ObamaCare to opposition to the Civil Rights Act. The point of this exercise is to intimidate and demonize Virginia Attorney General Ken Cuccinelli and the other states that have sued, rather than addressing the substance of their claims. And little wonder, after reading Judge Henry Hudson’s opinion.

The strongest constitutional case against ObamaCare turns on the individual mandate, the requirement that everyone buy health insurance or else pay a penalty. Judge Hudson notes that ObamaCare “literally forges new ground and extends Commerce Clause powers beyond its current high watermark.” The core question is “whether or not Congress has the power to regulate—and tax—a citizen’s decision not to participate in interstate commerce,” as Judge Hudson rightly notes.

We have been instructed that the individual mandate is constitutional under the Commerce Clause, full stop. If so, why did the Justice Department think it necessary to fortify this argument with a new theory that the mandate is also sanctioned by the taxing power? During the health-care debate, Democrats vociferously denied that the penalty was a tax at all, including the President himself, who said in an ABC interview last September that “I absolutely reject that notion.” At any rate, Judge Hudson also points out that this power is “not without limitation” either.

Judge Hudson concluded that “this case raises a host of complex constitutional issues” and “unquestionably, this regulation radically changes the landscape of health insurance coverage in America.” Liberals may be forced to take ObamaCare opponents seriously after all.

via Republican Study Committee (RSC) – The Caucus of House Conservatives.

Obamacare Only Looks Worse Upon Further Review: Kevin Hassett – Bloomberg

One of the more illuminating remarks during the health-care debate in Congress came when House Speaker Nancy Pelosi told an audience that Democrats would “pass the bill so you can find out what’s in it, away from the fog of controversy.”

That remark captured the truth that, while many Americans have a vague sense that something bad is happening to their health care, few if any understand exactly what the law does.

To fill this vacuum, Representative Kevin Brady of Texas, the top House Republican on the Joint Economic Committee, asked his staff to prepare a study of the law, including a flow chart that illustrates how the major provisions will work.

The result, made public July 28, provides citizens with a preview of the impact the health-care overhaul will have on their lives. It’s a terrifying road map that shows Democrats have launched America on the most reckless policy experiment in its history, the economic equivalent of the Bay of Pigs invasion.

via Obamacare Only Looks Worse Upon Further Review: Kevin Hassett – Bloomberg.