$17 TRILLION hole in obamacare found.

[powderman]

Massive $17 Trillion Hole Found In Obamacare March 31, 2012 Print Version     Source: Zero Hedge
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.
 
 It appears that this estimate may have been slightly optimistic… by a factor of 1700%. Because 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. And 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. Because 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 Callerexplains.
 

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 Americanwelfare 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 $2o 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.
Jeff Sessions’ full presentation.

As a reminder this is what One trillion looks like.

…Now multiply by 17.

[nomosendero]

Missed it by that much! 
 
And that is pretty much the story for everything a Lib touches.

[magooch]

But if Congress would just raise the tax rate on those darned ole one percenters--those millionaires and billionaires--you know, folks who make $200,000 a year, why there'd be plenty of revenue and everything would be rosey again.

[DDZ]

Liberals always create the exact opposite of their intent. Its just what they do. What are we now something like 15 trillion in debt? It is debt that we will never get rid of, because the majority in this country think that government should take care everything, including them, and they vote accordingly.
Just an idea of how much a trillion is. If we started paying down our 15 trillion dollar debt, by paying 1 dollar every second. It would take 474,000 years to do it. Thank you progressives, liberals, socialists, communists, what ever you like to be called! You have dug us a hole deep enough, that we will never be able to get out of it. Being as they are, ignorant, stupid, or just plain power hungry, they won't quit the digging.

It really isn't going to matter who the next president is. Whether its Obama, Mitt, or Santorum. We can talk about who is better until we run out of air. The spending of money that we don't have will continue. It takes much more than the election of one good man to steer the ship. So it would take the election of many good men to do the opposite of what we have been doing. This is not going to happen because we have become a spoiled people, and have forgotten the Biblical concepts that this nation was founded on. Its the reason we are in the mess we are in.         

[Dixie Dude]

Read "Patriots, surviving the comming colapse".  It is the excessive government spending on things like this that causes the economy and the government to colapse.  This is what the communist Obama wants.  So he can implement "Dictatorship of the Proletariant" and have a Command Economy executed from the top down.  Everyone will then share the utopia of equal misery except the elite rulers.  Obama is a communist pure and simple.  He was not vetted like Republicans are. 

[BUGEYE]

The current justice dept is enabling the democrats to commit even more election fraud.  plus the fact that lots of folks are throwing their vote away, pretty much hands obama his second term, which will probably come to resemble chavez and his communist regime.