Friday, February 27, 2009

Obama’s Health Care Plan to Hit Medicare

by Barbara Sowell from Digital Journal

Medicare cuts and tax hikes on the rich is President Barack Obama's plan for the nation's ailing health care system. Obama’s budget proposals are designed to force Congress into some very tough negotiations.

The Obama administration believes that Medicare spending cuts and tax increases on the wealthy will trim waste from the system. Medical providers and Medicare recipients are likely to put up a big fight on this issue.

According to the Associated Press, Obama is forcing Congress to address this question:

If you're going to cover an estimated 48 million uninsured Americans in the world's costliest medical system, how do you pay for it?

Obama’s plan sets aside $643 billion over 10 years to cover all Americans and the cost would be more than $1 trillion dollars.

Half the money would come from tax increases on upper-income earners; the other half from cuts to Medicare and Medicaid. Private insurance plans serving Medicare seniors would take the biggest hit, but hospitals, drug companies and home health agencies also face cuts.

Insurancenewsnet.com reports that National and California-based eldercare advocates are holding a media teleconference today to detail how the Obama budget will jeopardize quality senior care and “weaken major drivers of economic activity.”

Data will be released that illustrates how the long term care sector is a major driver of economic activity as it directly employs nearly 3 million individuals, generates $56.1 billion in tax revenue annually, and indirectly contributes $371.9 billion to the U.S. economy every year.

Medicare Advantage Plans are likely to suffer under Obama’s competitive bidding plan.

Investors.com reports that Obama’s plan will bring hefty cuts to HMO-run Medicare programs.

Obama also wants to use competitive bidding for the privately run Medicare Advantage. . . Medicare Advantage, which offers more benefits and options than traditional Medicare, often is popular in districts held by conservative "Blue Dog" Democrats.

The Washington Times reports today that “Wall Street turned sour Thursday, with health care stocks leading the markets down because of President Obama's proposed cuts to Medicare insurance companies in his $3.55 trillion budget. Most bank stocks rose.”

8 comments:

  1. The ones to take the biggest hit will be the Seniors themselves. They will be losing the majority of their services and gaining nothing.

    Just like Stinky to do too.

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  2. Obambi is going to totally piss off every SANE person in this nation at the rate he's going...

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  3. Hopefully the SANE Amricans will protest loudly!

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  4. Where's liberal AARP on this? Again their silence is telling. They seem to be more concerned about electing liberals than looking out for seniors they supposedly represent. When word came out that the stimulus bill could ration health care to seniors they were silent. It's about time they put their money where their mouth is.

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  5. In today's news "the One" was bragging that he would challenge lobbyist on health care. Now I have never especially been a fan of lobbyist but this is one time I will be rooting for them to put this empty suit in his place.

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  6. "Obambi is going to totally piss off every SANE person in this nation at the rate he's going..."

    Hey, he's already pretty much done that in just five weeks or so in office.

    At this rate, he's fomenting a revolution that will involve more than just words.

    And one that he and his robots definitely will not like, nor know how to manage.

    As Ambassador Alan Keyes wrote recently, he must be stopped.

    He is the most dangerous, anti-American, anti-God, anti-anyone-outside-of-his-skin politician to come down the pike in at least one, if not two, generations.

    And the trolls who adulate him and he are just as much the enemies of the state as those in the Mideast and elsewhere who would kill us all.

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  7. I forgot to say that it appears that every time he opens his mouth, the stock market slumps, outrightly rejecting his war -- the one he declared with his recent faux SOTU address to Congress -- against capitalism, entrepreneurs, small businesses, investors, etc.

    In hell, Karl Marx must be grinning that Obama has become president.

    But this is the price we all pay for 69 million of the electorate being asleep, though voting for him--and for the RINOs in Congress, especially those in the Senate who give the Democats the 60 votes they need to override any opposition of the Republicans and conservatives.

    What Obama, who is dumber than rock, regardless of how much Ivy League parchment he claims to have -- until I see published transcripts I do not assume he graduated from either Columbia or HLS -- does not seem to comprehend is that he is now president.

    He was not elected campaigner-in-chief, nor was he elected doomsayer-in-chief.

    What he does not seem to understand is that when he took the oath of office -- which I suggest he did illegally, since he has yet to prove that he is a natural-born citizen of the U.S. -- that he would "to the best of my ability, preserve, protect and defend the Constitution of the United States." That is, America and its people.

    Then, again, maybe he does understand fully the destruction of America and captitalism which he inflicts.

    Either way, IMO, His Hope-and-Change-ness has now fractured America irreparably.

    And the Democrats,leftists and liberals best be prepared for the electoral assault on them.

    The 2010 elections may well make the 1994 Republican-and-conservative Congressional takeover seem mild.

    I hope so.

    Because given the way that Obama is now making his power play on all facets of American society, the Republicans and conservatives had better get back before Obama manipulates the census and immigration and all the other possible ways to ensure a permanent Democrat/liberal/leftist majority in America.

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  8. According to the baseline projection, table s-3, page 123 of of the budget pdf, Medicare spending rises from $425 billion to $872 billion over the next 10 years. No cuts that I can see, just more rampant spending.

    Tack on the $1 trillion a year expected for SS, the possible $634 billion-$1 trillion for the health care trust fund, other mandatory spending, and discretionary spending and you have a national debt reaching upwards of $19-20 trillion in ten years. (Not counting interest.)

    Our proposed GDP will be about $22.9 trillion. Sobering that our national debt will be almost 100% of our gross domestic product isn't it?

    This might seem disingenuous or an attempt at traffic generation, but it is not. We did a layman's break down of the budget, big picture, not by issue. The results are astounding as well as frightening. If you are interested please take a look and anything to can contribute to our amateur analysis is more than welcomed. I am sure we overlooked something.

    http://politicsandcriticalthinking.blogspot.com/2009/02/era-of-new-responsibility-fy-2010-2019.html

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