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The Gavel That Brought In Yet Another Entitlement Program – What To Expect

22 March 2010 No Comment


The picture of Pelosi gleefully carrying in her “special” gavel to mark the passing of the health care reform bill might have you wondering what is so special about that gavel?  Well, it was the same one used to ring in Medicare back in 1965.  To celebrate these entitlements, I’ll leave you with the following fact:

When Medicare was passed in 1965, it was estimated that 25 years later, in 1990, Medicare would cost $9 billion per year.  When 1990 rolled around, the cost was $110 billion.  That’s a miss of 1,122%.

So, where do you think ObamaCare will cost down the road?  If you buy into the fact that it will actually lower the deficit, you need to stop reading only headlines and actually look into it more deeply.  The phony accounting, the way CBO actually scores proposed legislation, and the smoke & mirrors that are being used to give it a pretty price tag are absolutely incredible.  This legislation will not lower the deficit, it will increase it drastically.  If you look into it deeper rather than trusting everything that your favorite news anchor tells you at face value, and if you look at the track record of every entitlement program ever inacted in America, you will know that the deficit will increase because of this “reform”.

It really doesn’t matter where you stand on the issue of health care, the financial realities don’t change, and that is what I’m focusing on.  Might want to buy some gold/silver coins!

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  • Amateur Financier said:

    I'm with Mossy; that's an interesting quotation, but I'm a little skeptical without some evidence to back it up. As for buying gold coins… if the Leftists are right and this bill is little more than a giveaway to pharmaceutical and hospital companies, it might be time to buy some more medical sector stock.