Here's something I posted in one of my disaster prep forums I frequent.
A triumphant Speaker Nancy Pelosi likened the legislation to the passage of Social Security in 1935 and Medicare 30 years later -- and Obama issued a statement saying, "I look forward to signing it into law by the end of the year."
So she likened it to two OTHER federal programs that have failed to deliver on their promises?
BRILLIANT
Social Security, when it was enacted in 1935, was intended to be an "opt in" program where part of your annual salary was to be kept in a lock box fund earning interest at the Federal Bond rate until your retirement. Let’s review what happened with that.
1.) Opt In?
Nope, now it's mandatory and failure to contribute can be considered tax evasion and wind up with you going to jail.
2.) Lock Box Fund?
Nope, in another brilliant move by one of the worst presidents in American history Lyndon B. Johnson (you remember him right? That whole Viet Nam thing?) passed the Great Security program in 1965 which made the lock box trust fund a part of the General Operating Fund to be spent by congress.
3.) Earning interest?
Nuh unh. Gotta be a set amount of money for there to be interest accrued on it. And there's not.
The Social Security Administration's authority to make benefit payments as granted by Congress extends only to its current revenues and existing Trust Fund balance, i.e., redemption of its holdings of Treasury securities. Therefore, Social Security's ability to make full payments once annual benefits exceed revenues depends in part on the federal government's ability to make good on the bonds that it has issued to the Social Security trust funds. The federal government's ability to repay Social Security, in turn, is contingent on fiscal policies taken today (which have tended to increase deficits and the percent of the budget spent on interest and principal payments) and in the future.
In July 2008 the Office of the Chief Actuary of the Social Security Administration calculated an unfunded obligation of $13.6 trillion for the Social Security program. The unfunded obligation is the difference between the present value of the cost of Social Security and the present value of the assets in the Trust Fund and the future scheduled tax income of the program.
That means they don't have enough money NOW to cover all of the payments they're expect to make. The only thing they can do is freeze the increases in benefits (which they've done) and increase the age of retirement (which they have).
Social Security? Fail.
How about Medicare? Congress itself, in an effort to pass this bill, admitted to over 60 BILLION in fraud annually in Medicare alone. How can we trust the government to run National Healthcare responsibly when they've already proven that they cannot handle their existing medical programs. Just look at the VA. When was the last VA scandal? Oh, that's right, about 4 months ago when they found out they were not using FRESH NEEDLES for their patients which resulted in an outbreak of Hep C. Yeah, great program you have there.
These are just the existing programs we have which we already cannot fund. Now they want to enact another program that will cost even more when we haven't even found a way to pay for what we have? Brilliant.
Look, I want everyone to be healthy. But you cannot punish the many for the needs of the few. That's what this is about. We will cripple our economy through increased taxation and dependency on the government to the point of complete economic collapse.
But don't worry! They're going to tax those of us who already HAVE healthcare to pay for it. Well, not US, but our employers who pay the bulk of it through Cadillac taxes. But wait, if my employer has to pay not only for my healthcare but a tax for providing me with healthcare why would they continue to do it? There's no legal obligation for them to. So they won't. They'll put me on the national plan. And the money that was supposed to come from the taxes on my benefits? Oh, that will just disappear to. So not only will I no longer be contributing tax dollars to this massive program but I'll also be taking money OUT of it for my healthcare.
Wow.