Wednesday, December 16, 2009

Obama on Health Financing: It's My Way Or I'll Bankrupt the Government

In an astonishing assertion, the President says that if whatever deal Congress can cobble together on health care financing is so vital that the Federal Government will spend more money than it can tax, print or borrow on healthcare rather than adjust expenditures to avoid bankruptcy:

President Obama said in an interview with ABC News' Charles Gibson today that if Congress fails to pass health care legislation that lowers costs, the federal government "will go bankrupt."

He also painted a gloomy picture resulting from the failure of health care overhaul.

"Anybody who says that they are concerned about deficit, concerned about debt, concerned about loading up taxes on future generations, you have to be supportive of this health care bill because if we don't do this, nobody argues with the fact that health care costs are going to consume the entire federal budget," the president said.

This is a version of "my way or the highway". It's childish, irresponsible and illogical. The Government can control its own spending on anything except interest and principal on direct obligations of the Federal Government. Everything else is elective.

The more the polls go south on the current deal, which has for now devolved into a handout to insurance companies (!) as well as Big Pharma, the more histrionic the President gets-- and he was over the top this summer, arguing against doctors who took out childrens' tonsils and took off limbs from diabetics simply to make more money.

This is the wrong way to pass something as important as healthcare "reform".

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