Think Freely Media presents Common Sense with Paul Jacob

I have warned, before, about the upcoming double-barrel crisis aimed at the U.S. financial system: The insolvency of the U.S. government itself, as entitlement debt can no longer be kept afloat by FICA withholding, and as Treasury debt can no longer be maintained on a monthly basis simply because it has grown too big.

Last week our entitlement system’s trustees said that the current recession is so undermining Medicare Part A that payments for elderly care will fail in eight years, with Social Security itself imploding in less than 28.

That is, if the economy doesn’t get worse.

Medicare Part B, covering doctors’ visits and outpatient care, and Part D, covering prescriptions, are right now insolvent, sucking money from general revenues.

This crisis rushes closer, even as our president insists on reforming health care in ways that will almost certainly add new entitlements — which will also have to be paid for.

President Obama says that more government will do the opposite of what it’s done in the past. Until now, government involvement in medicine has increased costs and prices. Now he says what he’ll do will make for more “efficiency.”

Why do politicians believe in the magic of their new programs rather than the history of their old ones?

Why is it that, in politics, irresponsibility rises to the top?

However you answer that, the march to bankruptcy is picking up pace.

This is Common Sense. I’m Paul Jacob.

By: Redactor

10 Comments

  1. Rick Rund says:

    Yes…..and with revenues coming to the IRS DOWN 34%…..SPENDING is 2 (TWO) TRILLION over revenues. This “could be” a real mess. But “they” are better at letting government runs the farm than anyone else has been. We just need to TRUST “them”.
    Righhhhhht!

  2. pat says:

    Why is it that, in politics, irresponsibility rises to the top?

    Because voters are irresponsible.

  3. voxoreason says:

    >>Why is it that, in politics, irresponsibility rises to the top?

    The common thread seems to be that an issue affecting the democrat base (lawyers, unions, minorities, others with something to gain financially – or power – from their support) is ginned up by a vocal minority, then promoted by the Big Media (a rubber stamp for anything remotely liberal and/or unAmerican), while opposition is stifled or ridiculed by same, eg, the interminable coverage of Abu Ghraib a few years back. They’re working on a sequel, but the deal hasn’t been finalized just yet.

    (Gen Janice Kapinski, who failed to maintain military discipline at AG, was whisked out of the picture, later demoted, then went on to complain about the situation she helped create. She resembles one of the Russian “female” Olympic athletes from the past, ie, masculine. Draw your own conclusions.)

    This results in nonsense such as only whites are capable of being racists, while blacks aren’t because it involves the “power structure” of government. Ie, unadulterated BS.

    Then there’s the money. Liberal stooge/queen Katie Couric gets $15 million a year to put the CBS Evening News in third place, behind NBC and ABC. Where’s the return on investment on THAT one?

    It certainly isn’t her grasp of the obvious or reality. Her farce of a hit piece on Sarah Palin was a slice-and-dice edit job designed to ridicule Palin. Beneath contempt. (The transcript of the interview reveals the edits.)

    I find it more likely that Obama will wander too far off the reservation (he’s approaching the border at present), whereupon the dems will defeat themselves as opposed to the GOP defeating them, but winning by default.

    2010: VOTE! Slogan: Yeah, we’re corrupt idiots, too, but the democrats are much better at it than we are. The lesser of two evils is your best choice!

  4. Bob Giacomazza says:

    All our problems can be traced to professional politicians. They are the problem. Get Out Of Our House (GOOOH) is the solution.

    GOOOH is a system for replacing the entire House of Representatives with non-politicians who represent the people. Learn more at http://www.goooh.com.

  5. Jack Green says:

    Paul: the above remarks is just noise HERE IS THE SOLUTION:
    1)ABOLISH The Federal Income Tax
    2) ABOLISH The Federal Reserve Act
    3) Have state legislatures appoint the U.S.Senators
    WHY

    1)return power to the people and let them put there money spend it or put it in a business
    2)in 1913 we got INSTANT INFLATION THAT NOW THE PEOPLE LOSS HALF OF THEIR MONEY WITH INFLATION
    3)TAKE POWER ASWAY FROM INDIVIDUALS and return it to the states

  6. Jack Green says:

    Paul I would like to correct my spelling but I am not allowed to correct it with this kind of format jfg

  7. Timothy James Maki says:

    Paul,

    I was having this discussion with a friend the other day. I said, “this country needs health care for everyone”. He laughed and said, “we already have it”. He went on to say he has 10 hispanic employees, they all have health coverage – through the state. He does not pay a dime, but his employees and thier families go to the doctor for free.

    The only difference I see with a national health care system is that the insurance compaines will suffer and all people would have the opportunity to have medical services that will not ruin their lives financially.

    I am in Canada right now. These people seem quite happy with their health system. We seem to only see the few that are not on TV. Must be a rightwing conspiracy to keep the insurance companies fat and happy.

    It is a popular saying that the middleman makes all the money. Let me see; I’m sick – go to the doctor – the insurance company is in between me and the doctor. Hmmm, who is skimming the money. It’s the insurance company! The only thing they did was take some money. The doctor made me healthy – not the insurance company.

  8. Dr. T says:

    Obama continues to radically redefine words and phrases. In Obamaspeak, fix = damage, efficient = wasteful, and ‘all the people’ = government bureaucrats.

    The federal government’s takeover of healthcare insurance will fix {DAMAGE} health care, make it more efficient {WASTEFUL}, and benefit all the people {GOVERNMENT BUREAUCRATS}.

  9. AmeliaUZ says:

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  10. […] “March to Bankruptcy” (Common Sense … the politics of never-ending bad policy) […]

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