POLITICAL: The consequences of Obamacare

http://www.americanthinker.com/blog/2010/03/pelosi_proud_to_place_healthca.html

March 28, 2010
Pelosi proud to place healthcare reform beside two failed government programs
Anthony W. Hager

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One has to wonder if Speaker Pelosi realized what she was saying when she beamed about joining the creators of Social Security and Medicare. According to her own analogy Congress and the Obama administration have imposed upon America a program destined for high taxation, inadequate service, saucy bureaucrats, fraud, waste and future insolvency. If she was trying to boost public confidence in the healthcare bill she should’ve exercised greater care in picking her comparisons.

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Interesting how economically unsound these programs — Medicare, Medicaid, and Obamacare — are.

Unfunded liabilities are a way of life for the congresscritters. By the time that the excrement hits the proverbial fan, the particular congresscritters who passed it are long on their way to a very comfortable retirement. Or their just rewards! And we are left holding the proverbial bag!!

To any one who was economically literate, the problem was almost immediately obvious:

http://www.ssa.gov/history/briefhistory3.html#idamay

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On January 31, 1940, the first monthly retirement check was issued to Ida May Fuller of Ludlow, Vermont, in the amount of $22.54. Miss Fuller, a Legal Secretary, retired in November 1939. She started collecting benefits in January 1940 at age 65 and lived to be 100 years old, dying in 1975.

Ida May Fuller worked for three years under the Social Security program. The accumulated taxes on her salary during those three years was a total of $24.75. Her initial monthly check was $22.54. During her lifetime she collected a total of $22,888.92 in Social Security benefits.

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So it’s an intergenerational theft. A welfare program in disguise. An a wealth transfer, due to disparities in lifespan, from poor minority men to rich white women.

And, probably unintended, but could be a tin foil hat conspiracy, it destroyed the American family. Grandparents, now enriched with Social Security “retirement” checks, could abscond to Florida and abandon their families. Generations of grandchildren would be deprived of their grandparents thanks to this terrible law. This, combined with the high taxes that force housewives back into the work force, forced those grandchildren into childcare. It turns the schools into de facto all day daycare centers where the family bonds are destroyed. Which makes the uber-State very happy; remember the Prussian school model was to make soldiers for the army and factory workers to be led by “the elite”.

So what are the consequences of Obamacare — intended and unintended?

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