| Federal obligations exceed world GDP! | Is the US Gov't Bankrupt? | Unfunded a myth? |
|---|---|---|
| Deficit: $ 14, 559, 174, 700, ooo.00 +++ | running totals source: | Unfunded Liabilities: $ 114, 907, 821, 900, 000.00 +++ |
The Congressional & W.H. '3-card monty' mantra:
"Shhhh...don't frighten the natives." Don't mention o'scamcare during the "budget ceiling crisis."
Spoon feed meaningless figures to the gullible public.
"..most people outside the beltway don't understand.."
Ignore the added TRILLIONS of $$$ being added annually ...like the "..we have to pass it to see what's in it bill !"
Reality, A House of Cards:
The miniscule billions being touted in the latest debt ceiling negotiations, relative to the overall national debt, are insignificant and basically meaningless toward solving the real crisis looming ahead "The elephant in the room." ...the overall burgeoning total national debt.
Without deep spending cuts, in the $10T dollar range now coupled with a significant downsizing of the federal government, e.g. 10% across the board now plus additional regular annual cuts for the next decade of 1% minimum, including entitlements, the true debt of $129 Trillion Dollars (Yes, $129 trillion!) will increase by many many trillions more in the next decade. A 'ponzi scheme' of the worst kind.
It is unsustainable.
The government doesn't want the public to panic.
The truth is scary. Doing nothing about it is scarier. Prepare. -- rfh
video source: http://youtu.be/AqD-nMpsYAY
(What you'll get under o'scamcare!)
excerpts from an Aug. 1st, 2011 article:
"Thrown a curve - CMS' actuaries: Healthcare spending will continue to increase, despite reform law promises."
August 1, 2011http://www.modernhealthcare.com/article/20110801/MAGAZINE/308019976#
Medicare recipients applaud during a Capitol Hill rally last week marking the 46th anniversary of the program. A report from the CMS' Office of the Actuary estimates the federal share of healthcare spending will grow to 31% by 2020 from 27% in 2009. Photo credit: Getty Images
The landmark 2010 healthcare law will not slow the nation's ballooning healthcare spending in the coming decade, and it will drive spending away from hospitals and toward physicians and pharmaceuticals, according to projections from the government's healthcare actuaries.
The latest estimates of the impact of the Patient Protection and Affordable Care Act indicate that healthcare spending will continue to increase markedly in almost every respect through 2020. Those increases run contrary to one of the central promises of the law's advocates, including President Barack Obama: that it would slow the rise of ever-higher healthcare costs. The findings, calculated by the CMS' Office of the Actuary, were published last week in the journal Health Affairs.
The latest estimates of the impact of the Patient Protection and Affordable Care Act indicate that healthcare spending will continue to increase markedly in almost every respect through 2020. Those increases run contrary to one of the central promises of the law's advocates, including President Barack Obama: that it would slow the rise of ever-higher healthcare costs. The findings, calculated by the CMS' Office of the Actuary, were published last week in the journal Health Affairs.
..health spending will grow 5.8% annually through 2020, which is 1.1% faster each year than the projected growth in the gross domestic product. The projection also found healthcare spending as a share of GDP will grow in the coming decade from 17.6% in 2009 to 19.8% by 2020, which will increase overall spending from $2.6 trillion in 2010 to $4.6 trillion in 2020. [ annually!!! ]
Those estimates may still severely underestimate future healthcare outlays because they assume that planned Medicare cuts in physician payments will occur as planned at the end of 2011. Foster, whose estimates are required to track provisions of federal law, as written, has acknowledged that Congress is unlikely to allow the CMS to cut Medicare physician payments by 29.5%.
Read more: Thrown a curve - Healthcare business news and research | Modern Healthcare
Those estimates may still severely underestimate future healthcare outlays because they assume that planned Medicare cuts in physician payments will occur as planned at the end of 2011. Foster, whose estimates are required to track provisions of federal law, as written, has acknowledged that Congress is unlikely to allow the CMS to cut Medicare physician payments by 29.5%.
Read more: Thrown a curve - Healthcare business news and research | Modern Healthcare
