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On one side of his mouth Obama says, we can't continue to borrow from China?

China is the single largest holder of U.S. debt and owned $744 billion worth of U.S. government securities at the end of February, the latest month for which data is available, according to the U.S. Treasury.
...Yet on the other side of his mouth Obama proposes a Multi-Trillion Healthcare Package.

As a share of gross domestic product, we're looking at double-digit deficits as far as the eye can see. Over the next 10 years, the Congressional Budget Office predicts federal debt in the hands of the public will absorb 80 percent of GDP. And that doesn't include the real cost of state-run health care. Other than the temporary financial conditions surrounding World War II, we've never seen anything like this.

Shouldn't we fix a certain federal program $80 trillion in the hole. (Medicare)? Then move onto Social Security? Does anyone else see a problem with adding ANOTHER program to the failing mix?

Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 5:52 PM on May. 17, 2009 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (14)
  • Now that the WH is buying office supplies in bulk, we will all be better off, No?
    akinbottom2

    Answer by akinbottom2 at 5:53 PM on May. 17, 2009

  • http://www.cnbc.com/id/30746458
    http://blogs.wsj.com/chinajournal/2009/05/15/china-journal-wrap-obama-warns-on-borrowing-foreign-investment-declines/
    grlygrlz2

    Answer by grlygrlz2 at 5:54 PM on May. 17, 2009

  • Yes, Akin. I am sure there are 'some' liberals out there that would find that as a positive. Or else they are blinded by the rush for government controlled healthcare, that they do not care the cost and how it weakens America. For them, I suppose ignorance is bliss, no?
    grlygrlz2

    Answer by grlygrlz2 at 5:57 PM on May. 17, 2009

  • Ok, let me stop already today, JMHO, Medicare cannot be fixed until 2 maybe 3 things happen.
    The baby boomers are dead
    The young population paying into Medicare outnumbers the old, who retire at an older set age
    The overall deficit becomes so low, the budget is so well balanced, that any funding for Medicare is ok'd by al politicians and all voters.
    We have to have Medicare and Social Security, the problem not only lies with so much money going to other sources, the problem also lies with just the sheer numbers receiving it.
    akinbottom2

    Answer by akinbottom2 at 5:57 PM on May. 17, 2009

  • I think they do not care the cost.
    tnmomofive

    Answer by tnmomofive at 6:02 PM on May. 17, 2009

  • tn is right, those hoping to receive Government run healthcare do not care the cost, as long as it does not cost them.
    Isn't that the whole battlecry anyway when all this started, they wanted healthcare that didnt' cost them anything.
    That type of healthcare is actually the most costliest available. How much is your life worth?
    akinbottom2

    Answer by akinbottom2 at 6:06 PM on May. 17, 2009

  • The President recently told a remarkable story about his grandmother. In the last months of her life — she was dying of cancer — she broke her hip and received a hip replacement from Medicare. "I don't know how much that hip replacement cost," Obama told the New York Times, and he questioned whether giving people "a hip replacement when they're terminally ill is a sustainable model." This is the most sensitive health-care issue imaginable. But the question of whether the government can decide which health-care treatments are appropriate is central to whether an affordable universal system can be devised. Part of the answer involves an essential change in Medicare, from fee-for-service to a managed-care system that decides whether a hip replacement is necessary for a terminal cancer patient.

    grlygrlz2

    Answer by grlygrlz2 at 6:11 PM on May. 17, 2009

  • Since most of the baby boomers about to enter the Medicare system have been living with managed care for the past 20 years, a gradual transition may not be impossible.


     So who is expected to "give". If the babyboomers won't "give"? If employers drop insurance to save costs? Who GIVES? Ohh yea, the taxpayers.... Keep giving..... and giving......

    grlygrlz2

    Answer by grlygrlz2 at 6:13 PM on May. 17, 2009

  • 79 million people were born during the baby boom years, and they start retiring in 2011. Hang on to your tax dollars for the next 2 years because by 2011 you won't have any left just by the numbers alone filing for social security and medicare the first year.
    akinbottom2

    Answer by akinbottom2 at 6:24 PM on May. 17, 2009

  • We have an aging population and a nursing and doctor shortage. Medicare is over-extended NOW, as is Medicaid. If you are currently under sixty, YOU are screwed.
    mancosmomma

    Answer by mancosmomma at 6:26 PM on May. 17, 2009

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