CBO to Obama: "Your healthcare plan sucks"/Biden Confirms It
Well, CBO punked Obama again. I would say they are good at it but the reality is that Obama's policies are so stupid as to make him an easy target.
Today's punking comes in testimony by the CBO Director to Congress. Basically, CBO says that Obama's spending on healthcare, which is designed to lower overall costs, won't work. Costs will more likely go up.
This is a shocker of a shocker (sarcasm). Anyone who has taken Economics 101 could have predicted this. Subsidizing healthcare will cause people to demand more of it... and when demand goes up while supply stays the same or goes down, prices go up. Duh.
Of course backers of the bill brought out that deeply philosophical, patented Obama defense... It's better than doing nothing. Except, CBO says that doing nothing actually costs less. Doh!
But, that logic is totally consistent with Obama Administration views on everything and confirmed by none other than Joe Biden himself today.
Actual quote:
“And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”
“We’re going to go bankrupt as a nation,” Biden said.
“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.”
Again, we get that strange Obama logic. Biden says that current government spending by Obama (increased over Bush Admin spending) is unsustainable. Therefore, we have no choice but to spend more, which will somehow save us from bankruptcy.
I think those Mayans were on to something with that end of the world in 2012 prediction. It's hard to imagine how bad things can get when these guys are already this stupid after only six months.