A time of record deficits, rising debt, and recession seems like the last time you should create a new $2.5 trillion entitlement program and yet today that is exactly what the U.S. House of Representatives did. The only thing that could possibly make such fiscal insanity worse is the wildly absurd claim that this massive new government program will reduce the deficit by more than $100 billion over the next decade. Add to that are other knee-slappers, like how government is creating a new health insurance market or how government intrusion will give consumers more freedom. One after another Democrats pontificated about how this new historic bill will help working Americans who have lost their health insurance access affordable care, how it will help businesses struggling to keep up with health insurances costs, how it will help people hold onto their insurance even if they lose their job—exploding deficits and the crashing economy be damned.
Republicans all voted no—which leads me to wonder where these erstwhile champions of small government were when the GOP rammed through what is now a $1.2 trillion Medicare drug benefit. We’ll see just how much testicular fortitude they have when they return to power and have the chance to annul this bill. Also, as big and as bad as this bill was, Republican claims about it were a bit exaggerated. What we got tonight was very much watered down from what we started out with. The public option, for one, has been stripped from the bill. The government will be providing health insurance, but this will be through an expansion of Medicaid. So, the government is not taking over the health care industry, it’s just tightening its choke hold. And if you think this is socialism, what about Medicaid and Medicare?—sorry, but that ship sailed decades ago. The bottom line? This bill probably won’t cover nearly as many Americans as the Democrats say it will, nor will it wreak as much havoc as Republicans say it will. But it most certainly will succeed in inflating the deficit and imposing ever higher taxes on the rest of us.