Just what is wrong with this bill?
1-Under the auspices of a “Comparative Effectiveness Review” the package heavily funds the first steps towards the government-mandated rationing of health care and tramples your right to medical privacy.
2-The so-called “Stimulus Package” is being sold to taxpayers as an investment in useful infrastructure like roads and bridges. But the facts prove otherwise. Only 3.6% of the scheme’s $838 billion price tag would actually go to real, practical infrastructure projects--roads and bridges.
3-This trillion-dollar debt and spending scheme will provide little or no stimulus, but will put each and every American household in at least $6,700 of new debt, to be paid by our children and grandchildren and moves our GDP spending for Government to nearly 36%.
This was seen to be a presumption of Big Government in 2075 ! That's up a ways from the 18% we knew and a great big sign that says BIG BROTHER!
Table 2.
Federal Outlays by Category, 1950 to 2075
(As a percentage of GDP)
Fiscal
Year Social
Security Medicare Medicaid Social
Security,
Medicare,
and
Medicaid
Combined All Other
Spending,
Excluding
Interest
Expense Interest
Expense Total
1950 0.3 n.a. n.a. 0.3 13.5 1.8 15.6
1960 2.2 n.a. n.a. 2.2 14.2 1.3 17.7
1962 2.5 n.a. * 2.5 15.1 1.2 18.8
1970 2.9 0.7 0.3 3.9 12.8 1.4 19.3
1980 4.3 1.2 0.5 6.0 13.7 1.9 21.6
1990 4.3 1.9 0.7 6.9 11.7 3.2 21.8
2000 4.2 2.2 1.2 7.6 8.5 2.3 18.4
2010 4.4 2.7 1.8 8.8 7.6 0.8 17.2
2020 5.4 3.6 2.3 11.3 7.1 -0.5 17.9
2030 6.2 4.9 2.8 13.9 7.1 -0.2 20.8
2040 6.2 6.0 3.4 15.5 7.1 1.1 23.8
2050 6.0 6.7 3.9 16.7 7.1 3.1 26.9
2060 6.1 7.7 4.3 18.1 7.1 5.8 31.0
2070 6.2 8.9 4.9 20.0 7.1 9.4 36.5
2075 6.2 9.6 5.3 21.1 7.1 11.5 39.7
Source: Congressional Budget Office.
- = less than 0.05 percent.
Conclusion
Under the assumptions CBO made for this 125-year picture of the federal government's finances, the projected rise in expenditures for Social Security, Medicare, and Medicaid would drive total federal outlays well above the level that they have been throughout much of the post-World War II period. The core costs of the federal government--that is, ignoring net interest on the debt--could rise from approximately 18 percent of GDP today to 24 percent in 2050 and 28 percent in 2075. Left unattended, that steady escalation in spending could cause major deficits to emerge and thereby push the government's debt and interest expenditures to unprecedented levels. The total cost of government, including interest expense, could more than double as a share of the economy, rising from 19 percent of GDP today to 40 percent in 2075 (see Figure 3 and Table 3).
