THE TEN YEAR DUPE, PART TWO
Posted by Andrew Roman on November 20, 2009
I’m not sure how many people would sign on to a program that required them to work full-time for a period of four years before being paid; or one that would require four years of insurance payments on a car before being handed the keys; or one – as Senator Mitch McConnell puts it – that required four years of mortgage payments before one can move into a house, but I’m going to venture out on a limb and say not too many.
Just as the House version of the health care bill did two weeks ago, Harry Reid’s incarnation – over two-thousand pages strong – employs that old accounting chestnut: The Ten Year Dupe.
It’s pie-in-the-sky liberal voodoo at its cooked-books best.
Recall that earlier this week, Reid assured Americans that the Senate’s version of government-run health care would be a money-saver. Like the Pelosi bill, it would be cost-effective and still be able to insure billions and billions of health-care starved people without costing Americans an extra cent. In fact, there’d actually be some money leftover to pour into other meaningful things, like doorknobs at inner-city housing projects, the study of orgasms among college girls, and the continued examination of radioactive rabbit feces.
Over ten years, according to Reid, the whole kit-n-kaboodle would cost “only” $849 billion. (In today’s trillion-happy world, that’s chump change).
But we’ve all seen this movie before … and there are too many who still don’t get it.
Although tax increases would be implemented upon the bill’s passage into law, actual spending won’t begin until the fifth year of the bill’s application, 2014; and even then, it will be relatively miniscule. For instance, only $9 billion is slated to be spent that year. However, in 2016, spending reaches $147 billion. By 2019 (the last year of Reid’s ten year projection), it’ll hit $196 billion.
Thus, actual spending of any significance would only take place during the last six years of Reid’s health care debacle.
But, if one were to look at the actual numbers over a fully implemented ten year period, which would start in 2014, the cost is more than twice the $849 billion espoused by Reid – in the neighborhood of $2 trillion, according to the Congressional Budget Office (CBO).
The Ten Year Dupe.
As many as seventeen new taxes will be enacted to help fund everything. As much as $800 billion, according to the CBO, will be sucked from Medicare during the first decade of full implementation and put somewhere else. Plus, hefty penalties for those individuals, families and businesses who fail to comply with guidelines will be imposed.
Let freedom ring.
Seeing as there will be four years of revenue collection before spending really begins – which means four more years of our ongoing American health care holocaust – where is all of that money going to go until it is ready to be spent? Where do four years of taxes and fines get stashed until the government begins saving American lives? Will there be a health care reform fund established? Will there be a secret shoe box hidden at an undisclosed location? Will convicted Congressman William Jefferson of Louisiana allow the government to borrow his freezer?
Or the do words Social Security Fund mean anything to you?