Tuesday, March 16, 2010

More Sanity From Lawrence O'Donnell

More sanity from Lawrence O'Donnell - I feel as though down is up and up is down.  This entire discussion, which is 14 minutes total, goes through all the problems with the health care bill and there are many.  I will first clip a short segment of the entire interview that included CNBC's Jim Cramer (via Newsbusters).  Cramer  highlights the fact the bill will likely break the federal budget, raise income tax rates to 50-60% and cause capital gains and dividends to be taxed as ordinary income.  Lawrence O'Donnell mentioned on Friday's show Republicans failed to make an effective tax argument and it appears he may be correct.

The bottom line for anyone who has been following this health care debate, passing this health care bill will put the country on the fast track to financial disaster.  We've already seen social security having to cash in its IOU's to make its' payments.  Adding another entitlement is grossly irresponsible.  Furthermore, as O'Donnell points out in  the larger video clip, the bill fails to do much of what it claims.  The woman in Ohio, Natoma Canfield, who qualifies already for financial aid and receives care at a top facility, is beyond having an insurance problem as O'Donnell points out.   While the bill might guarantee she could not be denied insurance or have her rates raised for her condition, someone will be paying to cover her care.  It is inevitable that everyone's rates will be raised and this bill proceeds to tax us for having higher priced insurance packages.

While Democrats will argue this bill is deficit neutral, a highly debatable point mind you, it will do nothing to cut soaring medical costs or touch the insolvency of our entitlements.     It attempts to add millions more to our health care delivery system when resources are already strained.  All these factors light a match to a powder keg of fiscal insanity in the name of care.

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