Budget, Budget, What’s In A Budget?
Yes, Virginia, there just may be a Santa Claus…
As President Barack Obama and his “political organization” are planning to run TV ads in an attempt to convince America that his trillion dollar-plus health care reform is something that must be done this year, Senate Majority Leader, Democrat Harry Reid (NV), basically felt that was “a waste of money” (though an aide later claims Reid does not have a problem with the ads).
Even more damaging than Reid’s initial comment, however, come thoughts from the man of all budgets.
Congressional Budget Office Director Douglas Elmendorf, to my way of thinking, basically shredded the health care reform that is being pushed fervently by President Obama.
As we have discussed previously, government projections regarding revenue and expense are rarely accurate, typically over-approximating money that is supposed to come in and under-estimating costs.
That combination for a business equates to a net loss.
For the US government, and unfortunately for Main Street USA, it means higher income tax, business tax, consumption tax, and, as recently recommended by Capitol Hill, surcharges.
As stated in a recent Associated Press report: “Even if the legislation doesn’t add to the federal deficit over the next years, Elmendorf said costs over the long run would keep rising at an unsustainable pace.” (Emphasis added.)
Costs rising at an unsustainable pace?
Is that not enough to give EVERY American pause?
If not, I have no idea what would or could convince Main Street USA that what is being proposed regarding health care reform is NOT what we need right now.
Think about it if you must.
Over For Now,
Main Street One
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