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April 1st, 2012 
FAKE NEWS for the Zionist agenda
Two years ago, when introducing then promptly enacting Obamacare, the
president stated that healthcare law reform would not cost a penny over
$1 trillion ($900 billion to be precise), and that it would not add ‘one
dime’ to the debt. ~ Josey Wales – article – Videos
It appears that this estimate may have been slightly optimistic… by a factor of 1700%.
Coincident with the recent Supreme Court debacle, in which a
constitutional law president may be about to find that his magnum opus
law is, in fact, unconstitutional, someone actually read the whole
thing cover to cover, instead of merely relying on the CBO’s, pardon
Morgan Stanley and Goldman Sachs’, funding estimates.
That someone is
Republican Jeff Sessions who after actually running the numbers has
uncovered that the true long-term funding gap is a mind-boggling $17 trillion,
just a tad more than the original sub $1 trillion forecast.
This latest
revelation means that total underfunded US welfare liabilities:
Medicare, Medicaid and social security now amount to $99 trillion!
Add
to this total US debt which in 2 months will be $16 trillion, and one
can see why Japan, which is about to breach 1 quadrillion in total debt
(yen, but who’s counting), may want to start looking in the rearview
mirror for up and comer competitors.
While Obama may have been
taking creative license with a number that is greater than total US GDP,
he was most certainly correct when saying that Obamacare would not add a
penny to US debt.
The second the US government comes to market
to fund a truetotal debt/GDP ratio of 750%, it
is game over, and the Fed will have its hands full selling Treasury
puts every waking nanosecond to have any time left for the daily 3pm
stock market ramp.
What is it that brought about this discovery of some inverse cash under the rug? The Daily Caller explains.
The hidden shortfall between new spending and new taxes was revealed
just after Supreme Court justices grilled the law’s supporters about its
compliance with the Constitution’s limits on government activity. If
the court doesn’t strike down the law, it will force taxpayers find
another $17 trillion to pay for the increased spending.The $17 trillion in extra promises was revealed by an analysis of the
law’s long-term requirements. The additional obligations, when combined
with existing Medicare and Medicaid funding shortfalls, leaves taxpayers
on the hook for an extra $82 trillion in health care obligations over
the next 75 years.
Regular readers are well aware that when it comes to US insolvency, the underfunded American welfare state, whose obligations now amount to $100 trillion!,
is the primary cause of this country’s ultimate downfall. This latest
revelation only makes it that much more certain, and likely, faster.
Currently, the Social Security system is $7 trillion in debt over the
next 75 years, according to the Government Accountability Office.Also, Medicare will eat up $38 trillion in future taxes, and Medicaid
will consume another $20 trillion of the taxpayer’s wealth, according to
estimates prepared by the actuarial office at the Centers for Medicare
and Medicaid Services.The short-term cost of the Obamacare law is $2.6 trillion, almost
triple the $900 billion cost promised by Obama and his Democratic
allies, said Sessions.The extra $17 trillion gap was discovered by applying standard
federal estimates and models to the law’s spending obligations,
Sessions said.For example, Session’s examination of the health care law’s “premium
support” program shows a funding gap $12 billion wider that predicted.The same review also showed the law added another $5 trillion in unfunded obligations for the Medicaid program.
Of course, that this “discovery” happened two years after the law was originally proposed and enacted
merely once again confirms that other banana republics have nothing on
the US, and that America continues to live in a state of sheer chaos
when it comes to understanding that every use of funds must ultimately
have a source as well.
Josey Wales – March 31, 2012 – posted at BeforeIt’sNews
Source – Zero Hedge
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