About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Wednesday, July 25, 2012

NEW CBO REPORT: ObamaCare To Cut Deficit!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Did you hear the news? If you haven't, that is not the fault of leftist pundits and bloggers.

Take this entry from The Maddow Blog at MSNBC, CBO: Obamacare still cuts deficit:
Of course, that was before the recent U.S. Supreme Court ruling. What does the nonpartisan Congressional Budget Office have to say about the ACA now? As it turns out, the law still reduces the deficit, and Republican repeal efforts would worsen U.S. finances.
 Yes. Read it and weep. All you conservative morons out there were wrong and Nancy Pelosi was right:
"A cap on your costs; no cap on your benefits!"
Here's the proof:

News Flash: It is possible to fit $1.17-trillion of poop into a two pound bag!

You see, the trick is to cut Medicare, raise taxes and raid Social Security so that you collect $1.28-trillion before you spend the $1.17-trillion. Then, take the savings and apply it to the deficit. Voila! Deficit cut by $109-billion!

Wbut what?...How?

End your perplexity. Read this: CBO Math on ObamaCare Explained

And this: News from the CBO Report: Medicaid Uncertainty Remains, Medicare Cuts Grow.

Selected quotes from the above articles:
In January 2011, blogging Harvard economics professor Greg Mankiw wrote:
I have a plan to reduce the budget deficit.  The essence of the plan is the federal government writing me a check for $1 billion.  The plan will be financed by $3 billion of tax increases.  According to my back-of-the envelope calculations, giving me that $1 billion will reduce the budget deficit by $2 billion.
This is in essence what ObamaCare does.
Not only that, but the timing of the tax increases (which started in 2010) gives the federal government more time to raise money before spending it like crazy in 2014 when the exchanges and Medicaid expansions are supposed to take place.
An interesting feature of the report is that the CBO estimates that the ACA will cut Medicare spending by $741 billion over the next 10 years, up from the roughly $500 billion advertised at passage (see page 5, table 2 — Medicare and Other Medicaid and CHIP Provisions).
The final aspect of the CBO analysis, contained in a letter to Speaker Boehner, is that repeal of the ACA will increase the deficit by $109 billion over 10 years. Interestingly, $95 billion is “off-budget” savings — CBO parlance for Social Security taxes.
Did you get that? Our governors in Washington will realize savings in the deficit by collecting more Social Security taxes.

At least that's the way it sounds to me. I could be wrong. This whole post has a kind of Alice in Wonderland aire to it:
"The hurrier I go, the behinder I get.


Anonymous said...

Three card Monte the hand is quicker than the eye. "The hurrier I go, the behinder I get."The hurrier I go, the behinder I get." Great way to sum it up.

Sherman Broder said...

Three card Monte. exactly! Shameful behavior on the part of the Washington parasites.