Barack Obama
CBO: ObamaCare’s Gross Costs Over 10 Years May Be Nearly Twice White House’s Original Projections
Universal healthcare. A noble idea- if a nation can afford it.
As for “ObamaCare,” the more time that passes since the Affordable Care Act was enacted on March 23, 2010, the more expensive the projected numbers are getting.
Howard Sheppard reported on the website of Central Pennsylvania FOX affiliate WPMT FOX 43 yesterday:
The gross costs of the national healthcare law rammed through Congress by President Barack Obama will reach an estimated $1.76 trillion over 10 years – nearly twice the amount originally projected. The figure, which the Congressional Budget Office (CBO) revealed on Wednesday, is bound to cause embarrassment to the administration as it comes just as debate on “Obamacare” is starting to heat up again, two weeks before the Supreme Court is set to hear arguments on whether the Affordable Care Act is unconstitutional…
Original White House estimates said the gross cost of the healthcare act would be $940 billion over a decade, but the CBO’s new figures raise that figure to a shade under $1.5 trillion. For the 10 years from 2013-2022 that increases even further to $1.76 trillion.
(Editor’s note: Italics added for emphasis)
Back on March 1, I noted that according to a Government Accountability Office (GAO) report released February 26, ObamaCare will increase the long-term federal deficit by $6.2 trillion.
$6.2 trillion.
Considering the growing instability of the U.S. financial house of cards, one might wonder if the costs associated with universal health coverage won’t be the straw that eventually breaks the camel’s back.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Sheppard, Howard. “CBO: Obamacare estimated cost nearly double to $1.7 trillion.” FOX Central Pennsylvania. 16 May 2013. (http://fox43.com/2013/05/16/cbo-obamacare-estimated-cost-nearly-double-to-1-7-trillion/#axzz2TYdCQnzp). 16 May 2013.
Obama On Gun ‘Control’ Push: ‘One Thing I Am Is Persistent’
On Thursday, May 2, 2013, Barack Obama joined his Mexican counterpart President Enrique Peña Nieto for a joint press conference in Mexico City, Mexico. Not surprisingly, the U.S. President talked about gun ‘control’ among other issues. From a transcript provided by the Chicago Sun-Times:
I do want to editorialize just for a second about gun control. As I think all your Mexican counterparts understand and as I talked about with President Peña Nieto, we recognize we’ve got obligations when it comes to guns that are oftentimes being shipped down South and contributing to violence here in Mexico.
But, frankly, what I’m most moved by are the victims of gun violence not just in Mexico but back home — like the parents in Newtown. And I said the day that the legislation that had been proposed by Senators Manchin and Toomey in the Senate — the day that that failed to get 60 votes — that that was not the end; this was the beginning.
The last time we had major gun legislation it took six, seven, eight tries to get passed. Things happen somewhat slowly in Washington, but this is just the first round. And when you’ve got 90 percent of the American people supporting the initiatives that we put forward around background checks and making sure that drug traffickers, for example, can’t just send in somebody with a clear record to purchase guns on their behalf with no way of tracking or stopping that, when you had common-sense legislation like that that the overwhelming majority of Americans, including gun owners, those of us who strongly support the Second Amendment, all of us supporting, I believe that eventually we’re going to get that done. And I’m going to keep on trying.
So I didn’t mean to horn in on President Peña Nieto’s response, but I just want to be clear that we’re going to keep at this. One thing I am is persistent.
You can read the entire transcript of the press conference on the Sun-Times website here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Columbia University Economist Decries Criminal Behavior On Wall Street, ‘Corrupt Politics To The Core’
Stumbling on the following made me reminisce about the “good old days” as editor of Boom2Bust.com, “The Most Hated Blog On Wall Street,” when I would following the shenanigans on Wall Street a lot more than I’m able to today. From Jeffrey Sachs, an economist and Director of The Earth Institute at Columbia University, at the 31st Annual Monetary & Trade Conference on April 17:
A lot of what’s happened actually and what’s been revealed is in my view prima facie criminal behavior. It’s financial fraud on a very large extent. There’s also a tremendous amount of insider trading, and you can even watch it when you’re living in New York, how that works…
I believe we have a crisis of values that is extremely deep, because the regulations and the legal structures need reform. But I meet a lot of these people on Wall Street on a regular basis right now. I’m going to put it very bluntly. I regard the moral environment as pathological. And I’m talking about the human interactions that I have. I’ve not seen anything like this, not felt it so palpably. These people are out to make billions of dollars and nothing should stop them from that. They have no responsibility to pay taxes. They have no responsibility to their clients. They have no responsibility to people, counterparties in transactions. They are tough, greedy, aggressive, and feel absolutely out of control, you know, in a quite literal sense. And they have gamed the system to a remarkable extent, and they have a docile president, a docile White House, and a docile regulatory system that absolutely can’t find its voice. It’s terrified of these companies.
If you look at the campaign contributions, which I happened to do yesterday for another purpose, the financial markets are the number one campaign contributors in the U.S. system now. We have a corrupt politics to the core, I’m afraid to say, and no party is – I mean there’s – if not both parties are up to their necks in this. This has nothing to do with Democrats or Republicans. It really doesn’t have anything to do with right wing or left wing, by the way. The corruption is, as far as I can see, everywhere. But what it’s led to is this sense of impunity that is really stunning, and you feel it on the individual level right now, and it’s very, very unhealthy.
I have waited for four years, five years now, to see one figure on Wall Street speak in a moral language, and I’ve not seen it once. And that is shocking to me. And if they won’t, I’ve waited for a judge, for our president, for somebody, and it hasn’t happened. And by the way it’s not going to happen anytime soon it seems.
“SR 76 Wall Street”
YouTube Video
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Lake County Paper Ridicules Cook County Gun ‘Control’
Going forward, I’ve got to remember to read the Lake County News-Sun’s “Talk of the County” section more often. From the website of the Waukegan, Illinois-based paper last Friday:
Cook County
Cook County has added another tax to penalize legal gun buyers while the criminals continue to break any and all gun control laws.
Yep. Our neighbors to the north pretty much nailed it on the head.
And how about this gem:
Haw, haw
This has to be the grandest April fool joke that the world has ever heard of, or someone is going nuts beyond remedy. President Obama has declared April as National Financial Capability month. Unbelievable! Haw, haw. How incredulous coming from someone who cannot even prepare a budget and who spends borrowed money as if he were leaving the planet!
Funny but sad at the same time.
Especially since, if I recall correctly, President Bush the Second had the same problem when it came to spending.
Haven’t you heard? The nation does have a spending problem.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
“Talk of the County.” Lake County News-Sun. 5 Apr. 2013. (http://newssun.suntimes.com/news/19270481-418/talk-of-the-county.html). 10 Apr. 2013.
Should American Gun Owners Fear The U.N.-Approved Arms Trade Treaty?
Here’s some irony for you. I learned the U.N. General Assembly approved the Arms Trade Treaty yesterday while watching TV in Oak Park, Illinois- an infamous gun “control” jurisdiction just like my hometown of Chicago.
Judging by the condition of their roads these days, it looks to me they could really use those Village funds lost in their recent legal battle against gun rights.
Anyway, from Louis Charbonneau on the Reuters website last night:
The 193-nation U.N. General Assembly on Tuesday overwhelmingly approved the first treaty on the global arms trade, which seeks to regulate the $70 billion business in conventional arms and keep weapons out of the hands of human rights abusers.
The United States voted in favor of the treaty. And supporters of the new regulations, including U.S. Secretary of State John Kerry, keep insisting law-abiding gun owners in America have nothing to fear. From the Reuters piece:
“Nothing in this treaty could ever infringe on the rights of American citizens under our domestic law or the Constitution, including the Second Amendment,” he added, referring to the U.S. constitutional amendment that guarantees the right to bear arms.
“Nothing in this treaty could ever infringe on the rights of American citizens under our domestic law or the Constitution, including the Second Amendment”
That’s not what the National Rifle Association is saying.
From the NRA’s Institute for Legislative Action website Tuesday:
With a passing yet non-binding acknowledgement of individual rights in the preamble, the treaty itself threatens civilian firearm ownership. The NRA has always maintained that any Arms Trade Treaty must respect the Second Amendment right of individual self-defense. This can only be accomplished by expressly excluding civilian firearms ownership from its scope, which this treaty fails to do.
Notably, the ATT includes “small arms and light weapons” among its terms, which cover firearms owned by law-abiding citizens. Further, the treaty’s text urges recordkeeping of end users, directing importing countries to provide information to an exporting country regarding arms transfers, including “end use or end user documentation” for a “minimum of ten years.” Each state is to “take measures, pursuant to its national laws, to regulate brokering taking place under its jurisdiction for conventional arms.” Data kept on the end users of imported firearms would result in a registry of law-abiding firearms owners in this country, which based on the language of this treaty, could be available to foreign governments.
President Obama’s administration has supported the adoption of this treaty, and the administration is expecting to sign it…
Somehow, I’m not surprised to hear that last part.
You can read the NRA-ILA material in its entirety here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Charbonneau, Louis. “U.N. overwhelmingly approves global arms trade treaty.” Reuters. 2 Apr. 2013. (http://www.reuters.com/article/2013/04/02/us-arms-treaty-un-idUSBRE9310MN20130402). 2 Apr. 2013.
Spring Break Over, And Stupidity Still Reigns
I’m back.
And it’s discomforting to know the world I “left” for a few days remains more or less the same.
Led by a man some refer to as “President Sparklefarts” (not too respectful if you ask me, although I have heard that respect is something that must be earned), many Americans continue to grasp onto some mythical notion of utopia on earth.
Or at least here in the United States.
One nation, under God (maybe not), with moonbeams and butterflies for all.
While at the same time, accountability, civic duty, common sense, humility, maturity, morality, and reality become increasingly alien concepts.
Did I miss anything? This Gevalia coffee is playing with my head tonight.
Upon returning to my well-worn keyboard (give me an A! no, really), my mind brings me back twenty years or so to when I first watched the “Dish and Dishonesty” episode of the British sitcom Blackadder (back then I was mocked for watching British TV; these days, if you’re not a fan of Downton Abbey, you’re not “in with the in-crowd”). From an exchange between Baldrick and his boss Blackadder:
BLACKADDER: We are reprieved. It is a triumph for stupidity over common sense.
BALDRICK: Thank you very much.
BLACKADDER: As a special reward, Baldrick, take a short holiday. [Pauses for a second.] Did you enjoy it?
“A triumph for stupidity over common sense.”
“A short holiday.”
I can relate on both counts.
Washington County, WI, Sheriff Blasts Milwaukee Police Chief, Feinstein, And Obama On Gun ‘Control’
While my family’s Wisconsin residence is not in Washington County, I thought I’d share with you this morning something residents of the nearby county received from Sheriff Dale Schmidt last week:
To Washington County Residents, 03-08-2013
Recent comments on gun control by Milwaukee Police Chief Flynn highlight, for me, a problem with law enforcement in this country. Too often, law enforcement leaders confuse all citizens with criminals, and see themselves as “kings” of their jurisdiction instead of employees of the people.
In 2009, when Wisconsin’s Attorney General issued his advisory memo on open carry, it created little discussion within my department. That is because we already knew it was legal and protected by the Constitution. Chief Flynn’s position quoted from JSOnline was, “my message to my troops is if you see anybody carrying a gun on the streets of Milwaukee, we’ll put them on the ground, take the gun away and then decide whether you have a right to carry it.” Sounds like a man who makes no distinction between law-abiding citizens and criminals. That is one example, but I believe other law enforcement leaders operate under the “end justifies the means” policing model, Constitution be damned.
Law enforcement in America was never supposed to be about “ruling the people.” We are hired by “the people” to do that part of crime fighting they cannot do themselves. The citizens never gave up their protection against unlawful search of their persons, or seizure of their property, or the right to own guns and defend themselves, in that process. Does that make it harder to ferret out the criminals amongst us and arrest them? Yes it does, but it is how we protect our free society from a tyrannical government. I believe Chief Flynn is truly concerned about the safety of his officers, but law-abiding citizens are not the threat, and any law to improve officer safety must first be Constitutional.
The way it is supposed to work, is that the citizens elect people to run the government. Those elected people then hire police chiefs and officers to enforce society’s laws within the confines of the Constitution. In the case of Sheriffs, the people elect them directly. Either way, we are all accountable to the people, we are not their rulers. The law-abiding people are on our side and we should be focused on protecting their Constitutional rights, not limiting them! How did this get so backward?
The assertion, by President Obama, Senator Feinstein and Chief Flynn, that if certain types of guns or features of guns are banned, then violent crime will go away, is a fantasy. More importantly, they should not even be talking about it because the people hired them to protect that right. We should be talking about how to identify and stop people before they commit mass murders. We should be talking about why criminals remain on the street after multiple convictions for violent crimes. And we should be talking about how to change the sub-culture in this country that places no value on human life or personal responsibility.
Every American was appalled when they learned Adam Lanza inexplicably killed 20 children in their own classroom. But President Obama showed no leadership when he immediately took the focus to banning guns. That “kingly” position, shared by Senator Feinstein and Chief Flynn, essentially blames any American who supports the 2nd Amendment for those deaths, and excuses the perpetrator.
What if after Sandy Hook, President Obama had said, “this is bad; dangerous people are committing mass killings in public places, drug addicts are robbing banks, pharmacies and gas stations, and the Drug Cartels are operating in our central city neighborhoods. The violence in this country is more than our law enforcement people can handle right now. We work for you, and we need your help.” Might that have produced something more positive for this country than a threat to turn half its citizens into criminals for owning guns?
Rotten and disturbed individuals commit violent crimes, and that is where law enforcement leaders need to focus their energies. We were elected and hired by the people, and then took an oath to protect their Constitutional rights. I suggest we try a fresh angle on violent crime by inviting the law-abiding public to be a part of the solution instead of carpet bombing their individual rights. It would do Sheriffs, Chiefs and the President well to remember Sir Robert Peel’s 7th Principle of Policing:
Police, at all times, should maintain a relationship with the public that gives reality to the historic tradition that the police are the public and the public are the police; the police being only members of the public who are paid to give full-time attention to duties which are incumbent on every citizen in the interests of community welfare and existence.
Mr. President, Chief, it’s time to trust the People, not rule them.
Dale K. Schmidt, Sheriff
Washington County, WI
All I can say is, thank God for Wisconsin county sheriffs like Milwaukee County’s David Clarke Jr. and Washington County’s Dale Schmidt.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
North Korea Capable Of Crippling U.S. With Super-EMP Weapon?
“A furious North Korea threatened Thursday to attack America with nuclear weapons as punishment for perceived Western aggression – saber-rattling that came as the United Nations readied more sanctions against the Kim Jung-un’s rogue regime.
An unnamed spokesman in Pyongyang’s Foreign Ministry office said North Korea will launch “a preemptive nuclear attack to destroy the strongholds of the aggressors,” The Associated Press reports.
The spokesman referred to Washington as being the aggressor in a nuclear attack on North Korea, AP states.”
-The Washington Times, March 7, 2013
The last time I blogged about the Democratic People’s Republic of Korea’s nuclear warfare capabilities was on January 27. From that post:
The Democratic People’s Republic of Korea has been doing a lot of saber-rattling since I last blogged about the Communist state last month. At that time, I asked:
So what kind of timeframe are we talking about here before North Korea has an ICBM capable of reaching and hitting the continental U.S.?
Based on expert opinion, it could just be 4 short years.
And how does America know North Korea’s intentions are to target it with nuclear weapons? Ju-min Park and Choonsik Yoo reported on the Reuters’ website last Thursday:
North Korea said on Thursday it would carry out further rocket launches and a nuclear test that would target the United States, dramatically stepping up its threats against a country it called its “sworn enemy”…
“We are not disguising the fact that the various satellites and long-range rockets that we will fire and the high-level nuclear test we will carry out are targeted at the United States,” North Korea’s National Defence Commission said, according to state news agency KCNA.
(Editor’s note: Italics added for emphasis)
Park and Yoo added:
North Korea is not believed to have the technology to deliver a nuclear warhead capable of hitting the continental United States, although its December launch showed it had the capacity to deliver a rocket that could travel 10,000 km (6,200 miles), potentially putting San Francisco in range, according to an intelligence assessment by South Korea.
Now, the above discussion focused on a nuclear attack against the United States with intercontinental ballistic missiles as they’re traditionally-intended to be used.
However, earlier this week I stumbled upon material which suggests North Korea may already have the capability to cripple America via unconventional nuclear warfare.
Enter Dr. Peter Vincent Pry, Executive Director of the Task Force on National and Homeland Security and Director of the U.S. Nuclear Strategy Forum, both congressional advisory boards. Dr. Pry, a former intelligence officer with the Central Intelligence Agency, wrote on the Family Security Matters website on February 26:
The West consistently and unwittingly cooperates with North Korea and Iran by underestimating the advancement, sophistication, and strategic implications of their nuclear weapon and missile programs.
Despite North Korea’s successful long-range missile test in December 2012, and now its third successful nuclear test on February 12, 2013, the Obama administration and the press keep reassuring the American people that North Korea is not yet a fully fledged nuclear weapons state – that a North Korean nuclear missile threat to the United States is still years in the future.
The facts do not support this judgment. North Korea is already a major nuclear threat to the United States–an existential threat.
(Editor’s note: Italics added for emphasis)
Dr. Pry went on to say:
North Korea now appears to be armed with a FOBS capability to make a surprise nuclear attack against the United States–or against any and all nations on Earth–with Super-EMP.
FOBS? Super-EMP? The author of Apocalypse Unknown: The Struggle To Protect America From An Electromagnetic Pulse Catastrophe explained:
A Super-EMP warhead is a nuclear weapon specially designed to produce an enormous burst of gamma rays that generates an extraordinarily powerful electromagnetic pulse, capable of destroying even the best protected electronics, thereby paralyzing military forces and blacking out power grids and collapsing critical infrastructures everywhere–across an entire nation the size of the United States…
During the Cold War, the USSR experimented with a secret weapon, the Fractional Orbital Bombardment System (FOBS), that used an ICBM like a Space Launch Vehicle to put a nuclear warhead into orbit, like a satellite. Instead of using the ICBM to lob the warhead on a more accurate arcing ballistic trajectory, flying along the shortest range to target, like an artillery shell, the FOBS lofted the warhead into a “fractional” or partial orbit, sacrificing accuracy for limitless range.
FOBS could reach any nation or threaten any target anywhere on Earth.
A Super-EMP warhead does not weigh much, and could probably be delivered by North Korea’s Fractional Orbital Bombardment System, successfully tested in December 2012, against any nation on Earth. Thus, North Korea already possesses an ICBM and poses a mortal nuclear threat to the United States, and to all nations on Earth–right now.
(Editor’s note: Italics added for emphasis)
Real disturbing stuff. Even more so now that the U.N. Security Council voted unanimously Thursday for tougher sanctions against North Korea.
You can read Dr. Pry’s warning about the North Korean Super-EMP threat in its entirety on the Family Security Matters website here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Peter Schiff: Fed Creating Another Housing Bubble, ‘Day Of Reckoning’ Early In Obama’s Second Term
First it was “crash prophet” Jeremy Grantham warning:
Courtesy of the above Fed policy, all global assets are once again becoming overpriced.
Now, Peter Schiff is saying the same about housing.
And that America’s “day of reckoning” is right around the bend.
From a March 1 entry posted on The Schiff Report YouTube video blog:
The Fed influenced the housing market during the bubble predominantly by influencing the short end, making it easier for people to take out ARMs. Today, the Fed is influencing the housing market not predominantly by influencing adjustable rate mortgages, but by outright buying 30-year fixed-rate mortgages to drive mortgage interest rates down to record lows. But in both cases, it was the Fed’s interference that inflated the prices, inflated the bubbles, and there’s going to be a disastrous consequence when this bubble bursts. Although this bubble, is not going to be, I think, as large as the previous bubble. I think the consequences will be much bigger, as the Fed is not going to succeed in elevating home prices. But what they are succeeding at doing is transferring significant percentages of bad mortgages from the private sector to the Federal Reserve. In fact, the federal government has never been more involved in the housing market than it is today. Not only does the government insure over 90 percent of the mortgages, through the FHA, through Fannie, and Freddie. But now the government owns the mortgages. The Federal Reserve is financing them. The Federal Reserve is buying $45 billion worth of mortgages every month. So the government is the housing market…
Now President Obama, we’s got a bigger bubble going during his presidency, and he ain’t getting out of Dodge either. Only this time, I think, the bubble is going to burst not late in his second term, but early. And the difference is going to be- there are no more bailouts. This is the last bubble. This is the biggest bubble. In my book, The Real Crash: America’s Coming Bankruptcy: How to Save Yourself and Your Country
, I call it the “government bubble.” That’s what we have. This is the final bubble, and there is no bailout. We’re finally going to have to deal with the consequences of our profligacy. And the problem is, because we’ve kicked the can down the road for so long, right? We’ve papered it over with so much inflation, that the problems have gotten that much worse, which means when we finally are forced to confront them. And again, we’re going to be forced to do it. We’re not going to do it on our own. We’re not going to voluntarily check into rehab. We’re going to have to be forced to do it, because we’ve hit rock bottom, and the world has done an intervention. This “day of reckoning” is coming. And it’s not because of the sequester. Everybody is making a big deal about how painful this sequester is supposed to be. Well this is nothing compared to what’s really going to happen when we really have to swallow the bitter tasting medicine to restore health to an economy that is virtually going to be on its deathbed as a result of all the bad medicine that has been forced-fed it over the years by the Federal Reserve, by Congress, to mask the symptoms while the underlying disease gets that much worse.
“Bernanke Almost Comes Clean On ‘Exit’ Strategy”
YouTube Video
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)
GAO: ObamaCare Could Add $6.2 Trillion To Long-Term Federal Deficit
Here’s another headline-worthy story you may not hear/ready about in the mainstream media. Andrew Stiles reported on the National Review blog The Corner earlier this week:
Obamacare will increase the long-term federal deficit by $6.2 trillion, according to a Government Accountability Office (GAO) report released today.
Senator Jeff Sessions (R., Ala.), who requested the report, revealed the findings this morning at a Senate Budget Committee hearing. The report, he said, “confirms everything critics and Republicans were saying about the faults of this bill,” and “dramatically proves that the promises made assuring the nation that the largest new entitlement program in history would not add one dime to the deficit were false.”
President Obama and other Democrats attempted to win support for the health-care bill by touting it as a fiscally responsible enterprise. “I will not sign a plan that adds one dime to our deficits — either now or in the future,” Obama told a joint-session of Congress in September 2009. “I will not sign it if it adds one dime to the deficit, now or in the future, period.”
You can read Stiles’s entire February 26 post on his blog here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
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