Friday, April 2, 2010

Spreading The Debt Around

It's interesting how the news is coming out more and more on both sides of the political aisle that Obamacare legislation was really more about the redistribution of wealth than it was health reform. Jim Hoft at Gateway Pundit has more on this story.

That could be the case, but I think the politicians and pundits have it all wrong. In order to redistribute wealth, both tangible and intangible, the bottom line on the balance sheet still needs a plus sign. Taking on more than a trillion dollars of debt to nationalize 17% of our economy and project an improvement in national "health" some decades into the future doesn't sound like much of a wealth building policy. In fact, it sounds just the opposite, given the soon to be upside down Medicare and Social Security programs.

On the campaign trail in October 2008, Obama made the statement that one of his intentions was to "spread the wealth around." I'm not very hopeful that borrowed money from China and India processed through Obamacare will result in any tangible wealth. When was the last time you remember a government business making serious profits? As for the intangible wealth of better health, I be in my eighties before I can tell you, the good Lord willing.

And by that time, the national economy itself is projected to be upside down, flat broke. No tangible wealth to support the intangible health. Sounds like Obama has been spreading something else around the country, and it isn't wealth or debt, my friends.