It's doomed.
- Congress just voted to extend the annual debt limit to $12.2 trillion dollars. This means the listed federal debt will be allowed to rise to $12.2 trillion dollars. This does NOT include the Social Security rollover, because that IOU by Congress to itself for all the money collected by Social Security taxes, plus what was rolled over from last year, plus a year's interest, is actually considered an asset.
The total value of goods and services produced in the United States last year was only $14 trillion.
- Obama says we still have to spend money to save the economy, so suck it.
- Medicare was passed in 1965. They ran estimates of its cost in 2010. We're already 30x past those estimates. There's a Medicare surplus fund that Congress kept to tide the program over in tough times. It's been in the red $5 billion for 2 years now.
- Bush passed a prescription drug entitlement through a Republican Congress. It's an entitlement for seniors, so like Rush Limbaugh says, he can hold up his prescriptiosn to the pharmacist and say "Thanks for the freebie, sucker". They also ran cost estimates for years ahead.
It was already 2x as expensive as estimated after three years.
- This health care "reform" puts more unfunded mandates on states -- federal orders that the state do soemthing with no federal money to help the states do it. States only get money by sucking it out of their state economy or borrowing.
- The health care "reform" will punish doctors who submit too many Medicare bills by refusing to fully repay doctors who submit the top 10% of Medicare bills. So in other words, a doctor reads up on what medicare lets him charge, sends in the bills, and if by chance he saw too many Medicare patients compared to other doctors in America, he gets paid less. There's a simple way to avoid that...
- The health care "reform" orders you to buy insurance from a for profit company or owe a tax penalty. That's the first time in the history of the United States that Congress tried that. Do you think it will be the last time?
- Socialists think double digit employment with 50% tax rates is usual.
The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.