Saturday, August 8, 2009

Why They Really Want to Kill Off the Elderly and Disabled

What's really behind the push in the healthcare bill to limit, by government decree, healthcare options? It's because of the government's medicare Ponzi scheme that makes Bernie Madoff look like just a simple short-game grifter.

As Gary North points out, Medicare's hospital fund is already bankrupt:
This is taken from a March 25, 2008 press release from the U.S. government's Department of Health and Human Services.
This year the HI Trust Fund will spend more than its income, and from 2009 through 2017, about $342 billion will need to be transferred from the Federal treasury to cover beneficiaries' hospital insurance costs.

The hospital trust fund is the heart of Medicare.
How is medicare going to make up the difference? It is going to sell off non-marketable Treasury IOU's back to the Treasury? What is that going to mean? Here is North again:
If the trust fund were filled with corporate bonds or bonds issued by foreign governments, the sale of trust fund assets would not have any effect on the Federal deficit. But because the trust fund contains nothing but Treasury IOUs, it will have an effect on the deficit. It will raise it.

This means that funds from general revenues must pay Medicare obligations this year. Problem: General revenues in fiscal 2009 are expected to be $1.8 trillion in the red...Part of that general fund deficit is covered by Social Security revenues (FICA). These revenues are paid into Social Security by employers and employees. Excess revenues after Social Security payouts are transferred to the Treasury in exchange for nonmarketable IOU's from the Treasury.

The increase in the debt for Social Security's trust fund does not appear on the on-budget debt of the U.S. government, i.e., the debt reported by the various government debt clocks. It is off-budget debt. The public is unaware of this.

This cookie jar is expected to be empty in 2017, as the Trustees report. But the recession is creating unemployment. Unemployed people do not pay FICA taxes. So, the 2017 date is optimistic. The cookie jar could be empty as early as 2013, according to Prof. Kent Smetters of the University of Pennsylvania's Wharton School.

Smetters is an expert on the issue of the two programs' trust funds. His 2005 testimony before Congress on the off-budget unfunded liability -- $83 trillion -- is here (pdf).
Like Bernie Madoff's scam, the government's medicare/social security scam is about to be overloaded with money demands. The government won't be able to meet these demands given its current expenditures and income stream. Aside from printing money, the only option the government has is to cut expenditures. Got the picture? So where are they going to cut? The young that they can patch up and put back into the workforce, or those whose working days are over?

If you are no longer working, the government considers you a burden. You have already had your "good years". (Translation: "Good years" = Taxpaying years)

Overall, one-fourth (24 percent) of the elderly population reports their health status as fair or poor. Chronic conditions requiring increased contact with the medical care system and ongoing health care costs are more prevalent in the elderly population than in the non-elderly population. Does and overburden govenment that is living off the hope that the Chineese will continue buying its securities really want to deal with all these added expenses of the elderly? That's what they are going to "manage" out.

When you here government managed care, think government decisions on who gets what care and when.

Bottom line: There are two steps that need to be taken, let the young start saving up and buying their own health insurance. Under their own control, they are not going to put their money into nutty programs that kill them off when they get older. For those trapped, Bernie Madoff style, in the current system, well, they stripped Mrs. Madoff of her playthings, including her house, her furs and her jewelry. It's time to follow Ron Paul's advice and strip the government of its playthings, wars here, wars there, outposts here and outposts there and use the money to pay for healthcare for the elderly Americans who built this country, but were conned by their government that now wants to kill them off.


  1. Losing sucks and it sucked being in Germany after the Great War. The peace accord broke the economy. Democratic government was a new and confusing affair. Life is grim, dirty and hard.
    This unknown elected official, Adolf, has come out of nowhere to be chancellor.
    There is talk of a new form of government with Adolf as Führer. The radio says this is a good thing. The newspapers say it's a good thing. Our representatives give speeches and say how good Adolf and his new government will be. Some people in the crowd spoke out against a new form of government. They were beaten and thrown in the street.

    Maybe the new government will be better than being beaten.

    Anyone over 60 who voted for Obama, signed up for a suicide mission. Obama's vision of America does not include old people.

    Violence Breaks Out at Democratic Town Halls
    One conservative African-American
    activist, who was taken to the emergency room of a local hospital with injuries, told the newspaper that another black man used a racial slur against him and then physically attacked him.

    The Great Government Health Debate has drawn first blood. The liberals are so close to getting government health care they can taste. They are not going to let it slip away just because the citizens don't want it.

    The angry mob is a mob because it isn't
    organized. These people got here on their own dime. The letter they got from the RNC just asked for donations. The mob is angry because their representatives are lying to them. They have all seen video tapes of Obama, Barney Frank and other liberals explaining how the Kennedy Government Health Care Plan will lead to a "single payer" system. They have read the bill. The are passing around emails referencing sections of the bill by page numbers. On page 844 of
    is a section about the government coming into your home to determine how your children will be raised. There is enough in this bill to offend everyone.

    The angry mob has been against government
    health since FDR tried to introduce during his reign. Their emails in opposition have been ignored. Their phone calls in opposition have been ignored. Their opposition at town hall meetings has been dismissed. Now they are beaten for their public opposition. How long before
    people start to bring some self defense?

    After examing all the comments from all the people with the authority to count, after putting the events into undenialble, objective,factual context, what reasonable expectations can be confidently stated to anticipate anything but chaos coming from this - and soon?

  2. most excellent view on affordability given the cost of the pentagon and econophiles one word "VAT". The other solution is of course to redesign the economy so that it is a) geared to the provision of health and pensions and b) focussed on reducing the retirement age. Of course, this would mean the focus away from short term trading to long term profits from long term investments, but there you go. No-one said any politician actually thought of idealised visions of the future.

  3. "There are two steps that need to be taken, let the young start saving up and buying their own health insurance. Under their own control, they are not going to put their money into nutty programs that kill them off when they get older."

    I'm afraid this won't work for Baracko Obamussolini and his cohorts. What you suggest is free choice... it is getting the government out of the way... and having the government give up control.


    They need to confiscate whatever resources are left so they can redistribute them to whomever will provide them the most power, the most influence, or the biggest campaign contributions.

    This travesty of a "reform" bill must be stopped at all costs.

  4. Krugman has snickered at elderly opponents of Obamacare who may be on Medicare. Because the elderly benefit from existing limited socialised medicine, they are supposed to favor it's universalisation. But why?

    Hasn't Krugman's training as an economist sharpened up his radar for detecting sectional interests at work?

    Elderly recipients of medicare have little to gain from universal health care. Except maybe longer waiting room stays.

    Without casting the protesting elders as genuine, ...or even hypocritical, free marketeers... the "sectional interest" hypothesis may explain the revolt better than the 'Marie Antoinette' explanations being floated by the establishment liberal media pundits.

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